Briefing.com: Hourly In Play (R) – 19:00 ET
Jan 28, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 28-Jan-10 19:00 ET
18:33
CPSI Computer Prgms & Syst misses by $0.05, reports revs in-line; guides Q1 EPS below consensus, revs below consensus (44.03 -1.87)
Reports Q4 (Dec) earnings of $0.33 per share, $0.05 worse than the First Call consensus of $0.38; revenues rose 5.6% year/year to $33.8 mln vs the $34 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.31-0.33 vs. $0.40 consensus; sees Q1 revs of $31.8-33.6 mln vs. $33.97 mln consensus.
18:10
OLN Olin lifts force majeure for all products manufactured at its McIntosh, Alabama facility (1.68 -0.39)
Co announced that it is lifting the force majeure declared on January 15, 2010 for product shipments from its McIntosh, Alabama facility. Olin expects to resume normal deliveries of chlorine, diaphragm grade caustic soda, hydrogen, hydrochloric acid, sodium hypochlorite, and sodium chloride from that facility immediately.
17:56
TONE TierOne Corp names Michael J. Falbo as new Chairman and CEO (0.87 -0.04)
Co announced it has named Michael J. Falbo as Chairman and Chief Executive Officer. Falbo will officially assume the duties of the appointment at the Company and the Bank effective today. Falbo was the Chairman and Chief Executive Officer of State Fi Services Corporation, which was acquired by Associated Banc-Corp in 2005.
17:44
OKSB Southwest Bancorp beats by $0.09; Enters into regulatory agreement (6.79 +0.09)
Reports Q4 (Dec) earnings of $0.17 per share, $0.09 better than the First Call consensus of $0.08. Total assets were $3.1 billion at December 31, 2009, an increase of 8% from December 31, 2008. At December 31, 2009 total loans were $2.7 billion, which includes $85.4 million of loans acquired from FNBA in the second quarter. Southwest and its bank subsidiaries have maintained capital levels that significantly exceed the minimums for regulatory "well capitalized" status. At December 31, 2009, our total regulatory capital was $413.4 mln for a total risk-based capital ratio of 14.55%, and Tier 1 capital was $377.4 million for a Tier 1 risk-based capital ratio of 13.28%. Co says, "On January 27, 2010, our principal banking subsidiary, Stillwater N Bank and Trust Company ("Stillwater National") entered into a formal agreement with the United States Comptroller of the Currency ("OCC") relating to its levels of commercial real estate lending and problem assets."
17:37
ZNT Zenith National Insurance beats by $0.02, beats on revs (28.13 -0.37)
Reports Q4 (Dec) earnings of $0.12 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.10; revenues fell 9.4% year/year to $140.3 mln vs the $134.3 mln consensus.
17:33
NST NSTAR reports in-line; guides FY10 revs in-line (35.28 -0.11)
Reports Q4 (Dec) earnings of $0.45 per share, in-line with the First Call consensus of $0.45; revenues fell 8.8% year/year to $712.5 mln vs the $806.8 mln consensus. Co sees 2010 EPS of $2.45-2.55 vs. $2.53 consensus.
17:27
PDLI PDL BioPharma will pay two special dividends to its stockholders in 2010; Each of the dividends will be $0.50 per share (6.10 -0.22)
17:18
CTAS Cintas confirms restart of operations at Island Apparel in Port Au Prince (24.96 -0.26)
Co confirms the restart of operations at one of its clothing suppliers, Island Apparel, S.A. in Port Au Prince. New shipments of raw fabric and finished goods into and out of the facility will continue to be difficult for several weeks as the country's infrastructure continues to rebuild, but Island Apparel has enough fabric and orders to keep its employees working for some time. Cintas and other customers are assisting Island Apparel in establishing alternative transportation logistics to maintain operations for the facility's 1,000 employees.
17:09
EMN Eastman Chem beats by $0.14, beats on revs; guides Q1 EPS above consensus; guides FY10 EPS above consensus
Reports Q4 (Dec) earnings of $1.14 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $1.00; revenues fell 1.3% year/year to $1.33 bln vs the $1.26 bln consensus. Co issues upside guidance for Q1, sees EPS of slightly higher than $1.14, excluding non-recurring items, vs. $0.75 consensus. Co issues upside guidance for FY10, sees EPS of $4.25, excluding non-recurring items, vs. $4.28 consensus. Commenting on the outlook for first quarter and full year 2010, Rogers said: "We move forward into 2010 with positive momentum given the solid earnings we delivered in the second half of 2009. We are in the early stages of a recovery in our sales volume, which we expect will continue through the year as the global economy improves. We also will continue to benefit in 2010 from the cost reduction actions we took in 2009. However, we expect raw material and energy costs to increase in 2010 compared with 2009. As a result, we expect first quarter 2010 earnings per share to be slightly higher than fourth quarter 2009 earnings per share of $1.14. In addition, we remain confident in our ability to deliver 20 percent higher earnings per share in 2010 compared with 2009." Charges related to restructuring and cost reduction actions are excluded from earnings per share.
17:06
ASIA AsiaInfo beats by $0.07, beats on revs; guides Q1 EPS below consensus, revs below consensus (23.98 -0.87)
Reports Q4 (Dec) earnings of $0.38 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.31; revenues rose 41.8% year/year to $72.3 mln vs the $71.6 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.19-0.20, excluding non-recurring items, vs. $0.22 consensus; sees Q1 revs of $61-63 mln vs. $63.79 mln consensus. Gross profit as a percentage of net revenue (non-GAAP) was 60.9% in the fourth quarter of 2009, compared to 56.4% in the year-ago period and 57.0% in the previous quarter. Operating margin of net revenue (non-GAAP) for the fourth quarter of 2009 was 19.8%, compared to 15.2% in the year-ago period and 16.8% in the previous quarter. The year-over-year and sequential margin improvements were mainly the result of improving economies of scale and the Company's continued efforts to improve operational efficiency.
17:04
PRCP Perceptron recently signed supply agreements with two new customers (3.14 -0.05)
Co announced that it has recently signed supply agreements with two new customers under which Perceptron will be supplying new visual inspection products specifically designed for professional trades in two separate vertical markets. The new products will allow trades-people to easily perform a variety of inspection and diagnostic tasks at an affordable price.
17:04
OFG Oriental Fincl Grp beats by $0.14 (12.52 +0.06)
Reports Q4 (Dec) earnings of $0.75 per share, $0.14 better than the First Call consensus of $0.61. Results also include the effects in the fourth quarter of 2009 of sales of $116.0 mln of collateralized debt obligations in December 2009 and $420.1 mln of non-agency collateralized mortgage obligations in January 2010. The CDOs and CMOs sold represented approximately 75% of Oriental's non-agency investments. Net interest income increased 17.6%, to $130.9 mln, due to an improvement in the net interest margin to 2.14% from 1.86%, primarily reflecting lower cost of funds. Co states, "We enter 2010 with one of the cleanest, most secure balance sheets among banks in Puerto Rico, with a strong and growing banking-financial services franchise and year-end book value of $10.82 per share, up 35.9% from $7.96 at December 31, 2008."
17:02
CRE Care Investment Trust announces stockholder approval of plan of liquidation (8.26 +0.05)
The co announces that its Plan of Liquidation, previously approved by the Company's Board of Directors on December 10, 2009, was approved by its stockholders at a special meeting called for that purpose. Approval of the Plan required the affirmative vote of the holders of a majority of the Company's outstanding shares. Holders of approximately 11.85 million of the outstanding shares, representing 58.6% of the shares outstanding and 99.8% of the votes cast, voted to approve the Plan.
16:49
ARG Airgas misses by $0.04, misses on revs; guides Q4 EPS below consensus; lowers FY10 EPS, raises qrtrly dividend to $0.22 from $0.18 (46.83 -0.72)
Reports Q3 (Dec) earnings of $0.65 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of $0.69; revenues fell 12.7% year/year to $942 mln vs the $960.7 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.67-0.71 vs. $0.74 consensus. Co lowers guidance for FY10, sees EPS of $2.66-2.70 vs. $2.77 consensus, down from $2.70-2.80. Total same-store sales declined 14%, with hardgoods down 19% and gas and rent down 11%. Acquisitions contributed 1% sales growth in the quarter. On a sequential basis, total sales declined by 2% from the second quarter, reflecting the impact of fewer selling days and a normal seasonal decline of certain businesses in the All Other Operations segment. Sales per selling day increased sequentially by 1%. "Although more modest than anticipated, a recovery seems to be underway across most of our geographies and customer segments. However, a slow finish left third quarter sales short of our expectations. Conditions were particularly challenging in our Distribution segment's highly-profitable rental welder business, as activity related to major plant turnarounds and contractor maintenance was unexpectedly slow. This quarter's results were up against some tough comparisons, as our earnings remained strong late into last year's third quarter."
16:46
RSCR Res-Care announces amendment to credit facility (9.13 -0.09)
Co announces it has amended its senior secured credit facility, which was originally scheduled to expire on October 3, 2010. The amendment increases the revolver capacity by $25 mln to $275 mln. A $50 mln "accordion feature" remains in place, which allows the Company to expand its total borrowing capacity to $325 mln. The amendment will result in somewhat higher borrowing costs for the Company, but does not significantly alter the existing financial covenants.
16:46
FNM Fannie Mae reports Dec monthly summary (0.99 -0.01)
Co reports its Book of Business grew at a compound annualized rate of 9.7% in December. The Gross Mortgage Portfolio grew at a compound annualized rate of 37.6% in December. The Conventional Single-Family Serious Delinquency Rate rose 31 basis points in November to 5.29 percent; the Multifamily Serious Delinquency Rate rose 5 basis points to 0.66 percent in November (latest data available). The Effective Duration Gap on Fannie Mae's portfolio averaged one month in December.
16:43
TDSC 3D Systems received a multi-year contract to produce various in-flight plastic components (10.79 -0.35)
Co received a multi-year contract from a major helicopter manufacturer to produce various in-flight plastic components using its proprietary Selective Laser Sintering Production Systems and materials. This forward-thinking helicopter manufacturer recognizes the significant weight and cost savings gained by using the latest 3Dproparts(TM) Production Systems and materials to manufacture cost effective high performance aircraft components.
16:41
RKT Rock-Tenn increases corrugated box prices by 10% and corrugated sheets by 12% (41.95 -1.98)
16:37
CYT Cytec beats by $0.31, beats on revs; guides FY10 EPS in-line (37.48 -0.11)
Reports Q4 (Dec) earnings of $0.70 per share, excluding non-recurring items, $0.31 better than the First Call consensus of $0.39; revenues rose 7.7% year/year to $752 mln vs the $700.7 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.90-2.40 vs. $2.00 consensus. "We are forecasting 2010 demand levels in our Specialty Chemical segments to be relatively flat with the second half of 2009 levels and Engineered Materials 2010 demand is expected to be down slightly from full year 2009 levels."
16:33
MSFT Microsoft trading up through $30 after trading as low as as $28.65 (29.16 ) -Update- -Technical-
$30 is resistance with $30.40 as the next level. Last trade at 30.00
16:32
ALOG Analogic and L-3 Communications to upgrade complete L-3 examiner line of explosives detection systems (40.14 +0.14)
The co announces an agreement with L-3 Security & Detection Systems (LLL) to upgrade the full suite of eXaminer Explosives Detection Systems (EDSs), including the eXaminer SX and 3DX systems, and the ultra-high-speed eXaminer XLB, to meet the US and International enhanced certification standards. In addition, L-3 placed an order for five XLB systems, which are expected to begin shipping at the end of the third quarter of this fiscal year. Together, the upgrade design work and the XLB equipment orders are valued at approximately $7 million.
16:32
CYMI Cymer beats by $0.04, reports revs in-line; guides Q1 revs above consensus (33.24 -0.64)
Reports Q4 (Dec) earnings of $0.40 per share, $0.04 better than the First Call consensus of $0.36; revenues fell 4.1% year/year to $96.4 mln vs the $95.8 mln consensus. Co issues upside guidance for Q1, sees Q1 sequential revs growth of ~10%, which equates to ~$106.04 mln vs. $105.03 mln consensus.
16:32
KGC Kinross Gold reserves increase to 51 million ounces (16.84 -0.18)
Co announces its mineral reserve and resource statements as at December 31, 2009. Total proven and probable mineral reserves increased by 5.4 million ounces to 51.0 million ounces of gold, an increase of 12% over 2008. The Company declared its first mineral reserve at the Lobo-Marte project in Chile as planned, with proven and probable gold reserves of 5.6 million ounces grading at 1.22 grams of gold per tonne. Kinross upgraded mineral resources at Fruta del Norte (FDN) in Ecuador in 2009 as planned, declaring a measured and indicated gold resource of 5.7 million ounces grading at 11.2 grams of gold per tonne, plus an inferred resource of 6.1 million ounces.
16:31
AMZN Amazon.com back into positive terrtiory after trading down 10 points following earnings (126.03 ) -Update- -Technical-
Last trade at $126.78
16:31
CYN City National beats by $0.01 (50.01 -0.19)
Reports Q4 (Dec) earnings of $0.05 per share, ex-an $0.08 TARP charge and a $0.41 gain from the Imperial Bank acquisition, $0.01 better than the First Call consensus of $0.04. Co's net interest margin in the fourth quarter of 2009 averaged 3.74 percent, compared with 4.09 percent in fourth quarter of 2008 and 3.94 percent in the third quarter of 2009. Net charge-offs in the fourth quarter of 2009 totaled $58.7 mln, or 1.93 percent of total loans and leases. Net charge-offs were $24.7 mln, or 0.79 percent of total loans and leases, in the fourth quarter of 2008 and $76.9 mln, or 2.47 percent, in the third quarter of 2009. Co's fourth-quarter provision of $80 mln brought total provisions for the year to $285 mln. The fourth-quarter provision added $21.3 mln, after net charge-offs, to the co's allowance for loan and lease losses. City National recorded provisions of $40 mln in the fourth quarter of 2008 and $85 mln in the third quarter of 2009. At December 31, 2009, City National's allowance for loan and lease losses increased to $288.5 mln, or 2.38 percent of total loans and leases. That compares with $224.0 mln, or 1.80 percent, at the end of 2008 and $265.0 mln, or 2.18 percent, at September 30, 2009. The company also maintains an additional $17.3 mln in reserves for off-balance-sheet credit commitments.
16:28
GNW Genworth Financial beats by $0.09, misses on revs (13.63 +0.26)
Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.10; revenues fell 6.4% year/year to $2.46 bln vs the $2.53 bln consensus. Net investment losses, net of tax and other adjustments, decreased to $54 mln from $89 mln in Q4 of 2008, and decreased on a sequential basis from $62 mln in Q3. Net unrealized investment losses, net of tax and other adjustments, declined to $1.4 billion from $4.0 bln in the prior year quarter. Book value per share decreased 1% sequentially to $25.12 per share from $25.42 per share as of September 30, 2009 reflecting fluctuations in valuations for risk management related hedges. Book value per share, excluding accumulated other comprehensive income (loss), increased sequentially to $25.46 per share from $25.37 per share as of September 30, 2009. The risk to capital ratio in the U.S. mortgage insurance companies improved to 14.6:1(5) from 15.1:1 in Q3 primarily reflecting the impact of new federal legislation allowing for expanded tax loss carry backs.
16:28
ETR Entergy unit and Nebraska Public Power District extend nuclear services agreement (77.10 -1.62)
Entergy Nuclear has signed an agreement with Nebraska Public Power District to extend management support services to Cooper Nuclear Station until January 2029. The original contract between the companies, signed in 2003, was for the remaining years of the plant's original operating license, currently due to expire in 2014 and presently under review by the Nuclear Regulatory Commission for a 20-year license extension.
16:27
THOR Thoratec beats by $0.05, beats on revs; guides FY10 EPS above consensus, revs in-line (27.22 +0.24)
Reports Q4 (Dec) earnings of $0.27 per share, $0.05 better than the First Call consensus of $0.22; revenues rose 21.9% year/year to $104.5 mln vs the $94.3 mln consensus. Co issues mixed guidance for FY10, sees EPS of $1.05-1.10, excluding one-time expense from the PHP technology acquisition which is expected to impact net income per diluted share by approximately $0.09, vs. $1.03 consensus; sees FY10 revs of $420-430 mln vs. $430.47 mln consensus. Worldwide growth in the Cardiovascular Division is expected to be 15 to 20 percent, with the HeartMate product line expected to grow at a mid-twenties percentage rate and the combination of the Thoratec and CentriMag product lines are expected to decline at a mid-single digit percentage rate from 2009. The growth in the HeartMate product line reflects the expected positive reception in the market for DT approval and the positive outcomes generated in the trial. Continued adoption of the new HeartMate external peripherals will also be an important growth driver, although not as significantly as in 2009. ITC revenues are expected to be flat to low single digit percentage growth, with the launch of the next generation ProTime around mid-year.
16:26
OMCL Omnicell beats by $0.01, beats on revs (12.30 -0.82)
Reports Q4 (Dec) earnings of $0.11 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.10; revenues fell 11.9% year/year to $54.7 mln vs the $53.7 mln consensus. Product backlog as of December 31, 2009 totaled $114 million, up $4 million or 4% from December 31, 2008. "The 2009 fourth quarter saw Omnicell secure first orders from some of the most prestigious hospital networks in the United States including Carolinas Health System, CoxHealth and NewYork-Presbyterian. We remain confident that customers are recognizing our solution's unique benefits and are committed to improving the efficiencies and safety in their facilities. It has been a rewarding quarter, and we expect continued growth in 2010."
16:24
THRX Theravance announces FDA complete response letter for the telavancin new drug application is incomplete (13.50 -0.35)
Co announced that it has received from the U.S. Food and Drug Administration (FDA) a letter indicating that Theravance's response to the November 2009 Complete Response letter for the telavancin New Drug Application (NDA) for the treatment of nosocomial pneumonia (NP) is incomplete and that the review clock will not start until the FDA receives a complete response. Telavancin is a bactericidal, once-daily injectable investigational antibiotic for the treatment of NP caused by Gram-positive bacteria such as methicillin-resistant Staphylococcus aureus (MRSA). VIBATIV (telavancin) is approved in the United States and in Canada for the treatment of adult patients with complicated skin and skin structure infections (cSSSI) caused by susceptible isolates of the following Gram-positive microorganisms: Staphylococcus aureus (including methicillin-susceptible and -resistant isolates), Streptococcus pyogenes, Streptococcus agalactiae, Streptococcus anginosus group (includes S. anginosus, S. intermedius and S. constellatus) and Enterococcus faecalis (vancomycin-susceptible isolates only). The FDA letter noted that, "While we acknowledge that additional mortality data and analyses have been provided to support pooling the two phase 3 clinical trials (Studies 0015 and 0019), even if this is acceptable, the two pooled studies would equate to only one adequate and well-controlled trial and would not constitute substantial evidence of efficacy. The adequacy and similarity of populations across studies for the purposes of pooling has not yet been determined, and is a review issue."
16:24
VSEA Varian Semi beats by $0.03, reports revs in-line; guides Q2 EPS above consensus, revs above consensus (29.12 -1.54)
Reports Q1 (Dec) earnings of $0.22 per share, $0.03 better than the First Call consensus of $0.19; revenues rose 31.6% year/year to $141.3 mln vs the $140.9 mln consensus. Q1 gross margins were 48.6%, exceeding the co's guidance of 46.4%. Co issues upside guidance for Q2, sees EPS of $0.38-0.43 vs. $0.25 consensus; sees Q2 revs of $186-196 mln vs. $157.11 mln consensus. "In 2010, we are anticipating a recovery in our core business combined with noteworthy progress on our growth initiatives."
16:23
MEG Media General announces offering of Senior Secured Notes of $350 mln due 2017 (8.90 +0.59) -Update-
16:23
CPHD Cepheid beats by $0.05, beats on revs; guides FY10 EPS below consensus, revs in-line (14.49 -0.38)
Reports Q4 (Dec) loss of $0.07 per share, $0.05 better than the First Call consensus of ($0.12); revenues rose 30.2% year/year to $49.2 mln vs the $45.4 mln consensus. Co issues mixed guidance for FY10, sees EPS of ($0.35)-($0.27) vs. ($0.23) consensus; sees FY10 revs of $195-205 mln vs. $203.92 mln consensus.
16:22
FII Fed Investors misses by $0.02, misses on revs (26.50 -0.48)
Reports Q4 (Dec) earnings of $0.51 per share, $0.02 worse than the First Call consensus of $0.53; revenues fell 12.2% year/year to $264.8 mln vs the $278.3 mln consensus. Federated's total managed assets were $389.3 billion at Dec. 31, 2009, down $18.0 billion or 4 percent from $407.3 billion at Dec. 31, 2008 and down $3.0 billion or 1 percent from $392.3 billion reported at Sept. 30, 2009.
16:21
ORN Orion Marine acquires T.W. LaQuay Dredging for ~$60 mln in cash; see FY10 revs of $390 mln-$410 mln vs $360 mln First Call Consensus (17.85 -0.44)
Co announces that it has acquired Texas-based T.W. LaQuay Dredging, LLC for $60 million in cash. The Company will fund the acquisition through proceeds raised through its recent follow on offering. As part of the acquisition, Orion Marine Group will take over T.W. LaQuay Dredging's fleet of dredges and associated equipment including two fully operational hydraulic cutter suction dredges, two under construction, state-of-the-art hydraulic cutter suction dredges which will be commissioned during 2010, three portable dredges, and several other pieces of associated equipment. The Company plans on deploying the dredges throughout its current operating area. T.W. LaQuay Dredging will immediately bring additional revenue opportunities to the Company. As a result, Orion Marine Group now estimates its full year 2010 revenue will be between $390 and $410 million vs $360 mln First Call Consensus and full year 2010 EBITDA margin will be in the range of 16% to 18%. Additionally, T.W. LaQuay Dredging will add approximately $25 million of backlog to the Company.
16:21
CHRD Chordiant Software beats by $0.04, beats on revs (3.72 -0.01)
Reports Q1 (Dec) earnings of $0.04 per share, $0.04 better than the First Call consensus of ($0.00); revenues fell 5.1% year/year to $22.2 mln vs the $18.1 mln consensus. Although the co is not providing specific bookings, revenue, cash flow, or EPS guidance, it continues to provide the following basic parameters for FY10: the timing of new license bookings to remain unpredictable, total license revs to exceed the total license revs of FY09 of $22.5 mln, maintenance renewals to be consistent with historical experience of greater than 90%, total professional services revs to exceed the total professional services revs of FY09 of approx $19 mln, to be profitable on a non-GAAP basis, and to generate positive operating cash flow.
16:21
MIPS MIPS Techs beats by $0.01, misses on revs (4.22 -0.12)
Reports Q2 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.08; revenues fell 25.1% year/year to $15.2 mln vs the $16.6 mln consensus.
16:21
EPAY Bottomline Tech beats by $0.02, beats on revs (16.55 -0.21)
Reports Q2 (Dec) earnings of $0.25 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.23; revenues rose 16.9% year/year to $40.1 mln vs the $37.5 mln consensus. Gross margin for the second quarter was $22.6 million, an increase of $3.6 million from the second quarter of last year.
16:21
COLM Columbia Sportswear beats by $0.29, beats on revs; guides Q1 revs above consensus (40.47 -1.41)
Reports Q4 (Dec) earnings of $0.68 per share, $0.29 better than the First Call consensus of $0.39; revenues rose 1.0% year/year to $358.3 mln vs the $331.3 mln consensus. Co issues guidance for Q1, sees Q1 revs up 4-5%, or roughly $282.8-285.6 mln vs. $270.75 mln consensus. Q1 net sales guidance includes an estimated 4 percentage points of foreign currency benefit, and first quarter 2010 operating margin to decrease approximately 100 to 200 basis points, compared with 1Q09. "Fourth quarter results were significantly better than our October outlook, primarily due to stronger than expected demand in our U.S. and international wholesale businesses, as well as in our expanded direct-to-consumer operations. We are encouraged that our full year 2009 U.S. sales increased 1 percent, thanks to growth from our direct-to-consumer operations, which more than offset declines in our U.S. wholesale business. Cash flow from operations during 2009 was a record $214.4 million. We believe our results demonstrate the strengthening of each of our major brands and consumers' renewed appreciation for the great value and performance that our products consistently deliver."
16:21
ICO International Coal reports EPS in-line, misses on revs (3.82 +0.02)
Reports Q4 (Dec) net of breakeven, ex-items, in-line with the First Call consensus of ($0.00); revenues fell 4.5% year/year to $246 mln vs the $280.5 mln consensus. For 2010, the company expects to sell 16.7-17.3 mln tons of coal, including approximately 2.4 mln tons of metallurgical coal. The average selling price is projected to be $62.00 to $64.00 per ton, with an average cost of $49.50 to $51.50 per ton, excluding selling, general and administrative expenses. The company expects coal production to be 16-16.4 mln tons. The company anticipates 2010 capital expenditures of approximately $85-$95 mln.
16:20
KLAC KLA-Tencor beats by $0.01, reports revs in-line (29.37 -1.47)
Reports Q2 (Dec) earnings of $0.28 per share, $0.01 better than the First Call consensus of $0.27; revenues rose 10.9% year/year to $440.4 mln vs the $438 mln consensus.
16:20
INFA Informatica beats by $0.03, beats on revs (23.68 -0.49)
Reports Q4 (Dec) earnings of $0.31 per share, $0.03 better than the First Call consensus of $0.28; revs of $150.90 mln vs $138.70 mln First Call consensus. "In 2009, we attained our fifth consecutive record year. Over the past five years, we consistently achieved year-over-year growth rates that are significantly faster than the enterprise software industry," said Sohaib Abbasi, chairman and CEO of Informatica. "Clearly, our singular mission, compelling value proposition and the team's relentless pace of innovation are driving record results in all economic times." Co also says that since October 2009, it has had significant milestones including that it announced a $50 million stock repurchase authorization.
16:19
UTR Unitrin updated the progress made in its previously announced plan to exit the automobile finance business (21.85 -0.35)
Co updated the progress made in its previously announced plan to exit the automobile finance business and recoup its investment in Fireside Bank over the next several years (the "run-off plan"). Under the run-off plan, Fireside Bank no longer makes new loans, accepts new deposits or rolls over existing deposits. All branch locations have been closed other than the main office and the two collection call centers. Fireside Bank continues to collect outstanding loan balances and make interest payments and redemptions on outstanding certificates of deposit in the ordinary course of business. Loan receivables have declined steadily from $1,125 million, down to $744 million at the end of 2009. The reserve for loan losses remains strong at 11.2% of loans outstanding. Cash and U.S. Treasury and Agency investments now represent 31.4% of certificates of deposit outstanding. For 2010, we expect that the amount of automobile loan receivables and certificates of deposits outstanding will decline substantially, and Fireside Bank will report approximately break-even bottom line results."
16:19
SNDK After spiking down a point, SNDK is back in positive territory after earnings (28.78 ) -Update- -Technical-
Last trade at $29.44
16:18
OPLK Oplink Comms beats by $0.05, misses on revs; guides Q EPS in-line, revs below consensus (15.74 -0.07)
Reports Q2 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.21; revenues fell 13.0% year/year to $32.7 mln vs the $34 mln consensus. Co issues mixed guidance for Q, sees EPS of $0.16-0.22, excluding non-recurring items, vs. $0.20 consensus; sees Q1 revs of $30-34 mln vs. $34.67 mln consensus.
16:17
JNPR Juniper Networks trading up about $1.50 after earnings, testing $26 (24.49 ) -Update- -Technical-
$26.90-$27 is the key resistance level to watch. Last trade at $25.90
16:17
LEG Leggett & Platt beats by $0.06, beats on revs; guides FY10 EPS in-line, revs in-line (19.81 -0.24)
Reports Q4 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.24; revenues fell 12.7% year/year to $770 mln vs the $722.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.75-1.15 vs. $1.07 consensus; sees FY10 revs of 2.9-3.3 bln vs. $3.07 bln consensus.
16:16
SNDK SanDisk beats by $0.49, beats on revs (28.78 -1.16)
Reports Q4 (Dec) earnings of $1.18 per share, $0.49 better than the First Call consensus of $0.69; revenues rose 43.7% year/year to $1.24 bln vs the $1.16 bln consensus. SNDK reports Q4 gross margins of 52.5% vs 37% consensus. "In 2010, we look forward to solid growth in our markets with a continued emphasis on profitability."
16:16
INFA Informatica acquires Siperian for ~130 mln in cash (23.68 -0.49)
Co announces that it has completed the acquisition of Siperian, a leader in the Master Data Management infrastructure technology category. Informatica will acquire Siperian, on a fully diluted basis, for ~$130 million in cash.
16:15
JNPR Juniper Networks beats by $0.06, beats on revs (24.49 )
Reports Q4 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.26; revenues rose 1.9% year/year to $941.5 mln vs the $884.8 mln consensus. Non-GAAP operating margin for the fourth quarter of 2009 decreased slightly to 24.4% from 24.5% in the same quarter a year ago. Non-GAAP operating margin for the fiscal year 2009, decreased to 20.2% from 24.2% in the fiscal year 2008. "Juniper enters 2010 with good operational execution, improved financial results, and a clear strategic direction centered on innovation and expanded routes to market. Our results for the year, capped by a strong fourth quarter, validate our commitment to managing the business carefully while maintaining investments in innovation that we believe will help us grow our share of the high-performance networking market. We see improving conditions in 2010 and are positioning Juniper to accelerate out of the downturn."
16:15
CPWR Compuware beats by $0.02, beats on revs (7.79 -0.10)
Reports Q3 (Dec) earnings of $0.12 per share, $0.02 better than the First Call consensus of $0.10; revenues fell 14.4% year/year to $229.9 mln vs the $214.2 mln consensus.
16:14
FFIN First Financial misses by $0.05 (53.45 -0.17)
Reports Q4 (Dec) earnings of $0.60 per share, $0.05 worse than the First Call consensus of $0.65. "We are extremely pleased to report another year of earnings growth, especially in light of the challenges of the national recession, low interest rates, higher loan loss provisions and a significant increase in FDIC insurance premiums," said F. Scott Dueser, Chairman, President and Chief Executive Officer. "Throughout the year, our bank presidents did an exceptional job of managing their net interest margin, improving their efficiencies and minimizing credit losses. We continue to aggressively address our nonperforming assets and are committed to the highest performance and service for our shareholders and customers."
16:14
BCR C.R. Bard beats by $0.05, reports revs in-line (80.50 -0.04)
Reports Q4 (Dec) earnings of $1.39 per share, $0.05 better than the First Call consensus of $1.34; revenues rose 6.7% year/year to $676.9 mln vs the $674.8 mln consensus. Timothy M. Ring, chairman and chief executive officer, commented, "We conclude 2009 with confidence in our growth strategy and a stronger conviction to invest for the future. While challenges in our industry continue, we delivered another strong earnings quarter. We are pleased with the growth in our R&D investments and the productivity of our business development activities, closing five transactions this quarter. Our efforts this year have laid a solid foundation for further acceleration in the development and acquisition of new products to drive long-term shareholder value."
16:13
AMZN Amazon.com beats by $0.13, beats on revs; guides Q1 revs above consensus (126.03 +3.28)
Reports Q4 (Dec) earnings of $0.85 per share, $0.13 better than the First Call consensus of $0.72; revenues rose 42.0% year/year to $9.52 bln vs the $9.04 bln consensus. Co reports Q4 gross margin of 20.7% vs 20.38% street expectation and 23.36% last qtr and 20.11% a year ago. Co issues upside guidance for Q1, sees Q1 revs of $6.45-7.00 bln vs. $6.36 bln consensus; sees Q1 operating income of $275-365 mln vs $335.32 mln street consensus. Co said, "Millions of people now own Kindles... And Kindle owners read, a lot. When we have both editions, we sell 6 Kindle books for every 10 physical books. This is year-to-date and includes only paid books -- free Kindle books would make the number even higher. It's been an exciting 27 months."
16:12
CB Chubb beats by $0.20; guides FY10 EPS in-line (49.58 -0.70)
Reports Q4 (Dec) earnings of $1.66 per share, $0.20 better than the First Call consensus of $1.46. Co issues in-line guidance for FY10, sees EPS of $5.15-5.55 vs. $5.40 consensus. The operating income guidance for 2010 assumes: Net written premiums that are flat to down 2%, including about a 2 percentage point positive impact of currency based on 2009 year end exchange rates.
16:12
CA CA Inc beats by $0.01, beats on revs; reaffirms FY10 EPS guidance, revs guidance (22.35 -0.35)
Reports Q3 (Dec) earnings of $0.43 per share, $0.01 better than the First Call consensus of $0.42; revenues rose 8.3% year/year to $1.13 bln vs the $1.1 bln consensus. Co reaffirms guidance for FY10, sees EPS of $1.60-1.71 vs. $1.68 consensus; sees FY10 revs of $4.3-4.4 bln vs. $4.33 bln consensus.
16:11
VPRT Vistaprint beats by $0.14, beats on revs; guides Q3 EPS below consensus, revs above consensus; guides FY10 EPS in-line, revs above consensus (53.37 +0.73)
Reports Q2 (Dec) earnings of $0.73 per share, $0.14 better than the First Call consensus of $0.59; revenues rose 40.1% year/year to $194.6 mln vs the $175.5 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.39-0.42, excluding non-recurring items, vs. $0.48 consensus; sees Q3 revs of $165-170 mln vs. $160.80 mln consensus. Co issues mixed guidance for FY10, sees EPS of $1.92-2.00, excluding non-recurring items, vs. $1.95 consensus; sees FY10 revs of $675-685 mln vs. $648.24 mln consensus.
16:11
AMCC Applied Micro reports EPS in-line, beats on revs (7.62 -0.35)
Reports Q3 (Dec) earnings of $0.04 per share, in-line with the First Call consensus of $0.04; revenues rose 9.1% year/year to $53.7 mln vs the $52.8 mln consensus.
16:10
FORM FormFactor beats by $0.13, reports revs in-line (16.50 -0.55)
Reports Q4 (Dec) loss of $0.46 per share, $0.13 better than the First Call consensus of ($0.59); revenues fell 24.7% year/year to $33 mln vs the $32.8 mln consensus. Co states, "Although our Q4 results reflect delays in the timing of our customers' technology transitions, tooling cycles and volume plans, exiting the quarter, we are encouraged by the uptake in interest and orders we experienced from a broader customer base..."
16:10
DRIV Digital River beats by $0.07, beats on revs; guides Q1 EPS below consensus, revs above consensus (25.38 +0.27)
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.33; revenues rose 9.4% year/year to $104.9 mln vs the $96.2 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.18-0.23, excluding non-recurring items, vs. $0.28 consensus; sees Q1 revs of $95-99 mln vs. $90.13 mln consensus.
16:09
AMZN Amazon.com moving lower after earnings, now down about 5 points (126.03 ) -Update- -Technical-
Level to watch is the recent lows at $118.12. Last trade at $120.75
16:08
AMCC Applied Micro reports EPS in-line, beats on revs (7.62 -0.35)
Reports Q3 (Dec) earnings of $0.04 per share, in-line with the First Call consensus of $0.04; revenues rose 9.1% year/year to $53.7 mln vs the $52.8 mln consensus.
16:07
RMBS Rambus beats by $0.04, beats on revs (23.38 -0.82)
Reports Q4 (Dec) loss of $0.22 per share, $0.04 better than the First Call consensus of ($0.26); revenues fell 18.1% year/year to $30.8 mln vs the $28.3 mln consensus. Co states, "As compared to the fourth quarter of 2008, revenue was down 18.1% primarily due to the receipt of the previously withheld royalties related to the now vacated Federal Trade Commission ("FTC") order in the fourth quarter of 2008. Revenue for fiscal year 2009 was $113.0 million, down 20.7% over the last fiscal year primarily due to the expiration of the Elpida licensing agreement in the first quarter of 2008... The agreement signed last week with Samsung Electronics is transformational for Rambus and will accelerate the market adoption of our patented innovations and leadership products."
16:07
ARBA Ariba beats by $0.01, reports revs in-line (11.80 -0.21)
Reports Q1 (Dec) earnings of $0.19 per share, $0.01 better than the First Call consensus of $0.18; revenues fell 0.5% year/year to $85.7 mln vs the $85.1 mln consensus. "As evidenced by our strong first quarter results, Ariba is delivering solutions that meet customer demands for fast results, low risk and more variable cost structures," said Bob Calderoni, Chairman and CEO, Ariba. "Customers are increasingly turning to Ariba for their business needs and our solutions are helping to drive their recovery."
16:07
SCSC ScanSource reports EPS in-line, beats on revs; guides Q3 revs above consensus (27.06 -0.41)
Reports Q2 (Dec) earnings of $0.44 per share, in-line with the First Call consensus of $0.44; revenues rose 14.9% year/year to $548.1 mln vs the $518.8 mln consensus. Co issues upside guidance for Q3 (Mar), sees Q3 revs of $535-555 mln vs. $484.9 mln consensus.
16:07
PMCS PMC-Sierra beats by $0.02, beats on revs (7.76 -0.21)
Reports Q4 (Dec) earnings of $0.17 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.15; revenues rose 6.6% year/year to $139.5 mln vs the $136.8 mln consensus.
16:06
MSFT Initial reaction is higher in MSFT, pulling back from resistance at $29.80 (29.16 ) -Update- -Technical-
Last trade at $29.50
16:05
HUBG Hub Group beats by $0.02, beats on revs; guides FY10 EPS in-line (25.48 -0.52)
Reports Q4 (Dec) earnings of $0.26 per share, $0.02 better than the First Call consensus of $0.24; revenues fell 5.1% year/year to $408 mln vs the $380.1 mln consensus. Co issues in-line guidance for FY10, sees EPS of $1.00-1.15 vs. $1.09 consensus.
16:04
MXIM Maxim Integrated beats by $0.06, beats on revs; guides Q3 revs above consensus (18.12 -0.28)
Reports Q2 (Dec) earnings of $0.24 per share, excluding $0.05 of special items, $0.06 better than the First Call consensus of $0.18; revenues rose 15.3% year/year to $473.5 mln vs the $459.4 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $500-520 mln vs. $448.77 mln consensus. Co also sees Q2 Gross Margin: 60% - 61%, and operating expenses of $180 - $183 mln.
16:04
CA CA Inc names William E. McCracken Chief Executive Officer (22.35 -0.35)
Co announces the unanimous election of William E. McCracken, as CA's chief executive officer. McCracken previously served as executive chairman since John A. Swainson's retirement was announced in September 2009. McCracken now holds both the CEO and chairman of the board positions at the Company.
16:03
ABAX Abaxis misses by $0.02, misses on revs (22.53 -1.03)
Reports Q3 (Dec) earnings of $0.15 per share, $0.02 worse than the First Call consensus of $0.17; revenues rose 14.8% year/year to $31 mln vs the $31.9 mln consensus. Clint Severson, chairman and chief executive officer of Abaxis, commented, "Our medical market sales team has made substantial progress in expanding our customer base by growing the installed base of Piccolo instruments, excluding the U.S. government. With Piccolo instrument unit sales during the third quarter increasing 12% compared to our second quarter and 48% higher than the first quarter of the fiscal year, we are beginning to experience the benefits of our new strategic plan in addressing the medical point-of-care market. Our goal is to remain focused on growing both our medical and veterinary markets by providing leading-edge technology and quality products to our customers allowing them to improve the way healthcare is delivered."
16:03
COHR Coherent beats by $0.16, beats on revs; guides Q2 revs above consensus; raises FY10 revs above consensus (26.55 -0.18)
Reports Q1 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.16 better than the First Call consensus of $0.05; revenues fell 1.3% year/year to $122.8 mln vs the $114.1 mln consensus. Co issues upside guidance for Q2, sees Q2 revs of $135-140 mln vs. $119.73 mln consensus. Co raises guidance for FY10, sees FY10 revs of $525-550 mln vs. $487.93 mln consensus, up from $475-500 mln. The book-to-bill ratio was 1.3, resulting in backlog of $202.8 million at January 2, 2010 compared to a backlog of $164.3 million at October 3, 2009 and a backlog of $162.0 million at December 27, 2008.
16:03
RHI Robt Half beats by $0.04, beats on revs (26.86 -0.03)
Reports Q4 (Dec) earnings of $0.09 per share, $0.04 better than the First Call consensus of $0.05; revenues fell 25.5% year/year to $737.4 mln vs the $703.6 mln consensus. "We were encouraged to see broad-based, improving demand for our professional staffing services during the fourth quarter. Each of our staffing divisions reported sequential revenue growth, as did Protiviti on a same-day basis."
16:03
LSCC Lattice Semi beats by $0.01, reports revs in-line; guides Q1 revs above consensus (2.66 -0.03)
Reports Q4 (Dec) earnings of $0.05 per share, $0.01 better than the First Call consensus of $0.04; revenues rose 12.2% year/year to $55.1 mln vs the $54.9 mln consensus. Co issues upside guidance for Q1, sees Q1 revs +8-12% or roughly $59.5-61.7 mln vs. $55.03 mln consensus. Gross margin percentage is expected to be approximately 54% to 56% of revenue.
16:03
CALD Callidus Software reports EPS in-line, misses on revs; guides Q1 revs in-line (3.05 -0.13)
Reports Q4 (Dec) loss of $0.11 per share, in-line with the First Call consensus of ($0.11); revenues fell 43.2% year/year to $15.5 mln vs the $16.4 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $16.5-17.5 mln vs. $17.08 mln consensus.
16:03
CAVM Cavium Networks beats by $0.01, beats on revs (22.19 -0.71)
Reports Q4 (Dec) earnings of $0.08 per share, $0.01 better than the First Call consensus of $0.07; revenues rose 44.6% year/year to $32.1 mln vs the $30.9 mln consensus. Gross margins, on a non-GAAP basis, were 58.9% in the fourth quarter of 2009 compared to 55.7% in the third quarter of 2009. "We had record sales this quarter due to growth across multiple markets, especially in the enterprise and data center markets. We had record bookings and design wins during the quarter. New product ramps are in early stages at a number of tier-1 customers and this is driving higher revenue and growth rates for us. Non-GAAP gross margins have continued to expand continuing the trend of last few quarters, and increased 320 basis points sequentially due to improved product mix, reduced product costs as well as improved manufacturing overhead absorption. The increased sales along with expanding gross margins significantly improved sequential operating performance. Non-GAAP operating margins increased from 4% in the third quarter to 12% this quarter, showing the leverage in our operating model... We demonstrated the ECONA and PureVu products at the CES show in January and customer response has been extremely positive."
16:02
CYBS CyberSource beats by $0.03, beats on revs; guides Q1 EPS below consensus, revs above consensus; guides FY10 EPS in-line, revs above consensus (17.66 -0.56)
Reports Q4 (Dec) earnings of $0.24 per share, ex-items, $0.03 better than the First Call consensus of $0.21; revenues fell 88.3% year/year to $76.1 mln vs the $73.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.19-$0.20 vs. $0.21 consensus; sees Q1 revs of $73.5-$74 mln vs. $71.67 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.89-$0.91 vs. $0.90 consensus; sees FY10 revs of $310-$315 mln vs. $308.36 mln consensus.
16:01
PAR 3Par beats by $0.02, beats on revs (10.51 +0.19)
Reports Q3 (Dec) earnings of $0.03 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.01; revenues rose 3.9% year/year to $50.1 mln vs the $49 mln consensus. "Through unique hardware and software innovations such as our newly-announced, hardware-accelerated thin software technologies (Thin Conversion, Thin Persistence, and Thin Copy Reclamation), 3PAR has continued to move the goal posts forward, ahead of the incumbents, widening the gap between the value that legacy storage vendors promise and the value that we actually deliver. We have continued to stay ahead of the game with first-to-market technologies such as autonomic storage management for clusters, as well as autonomic storage tiering within high-end arrays. This technology leadership has created a strong incentive for customers to choose a best-of-breed approach over the sub-optimal, proprietary, vertical stacks offered by legacy storage vendors."
16:01
ININ Int. Intelligence reports EPS in-line, revs in-line (17.81 -1.08)
Reports Q4 (Dec) earnings of $0.27 per share, excluding non-recurring items, in-line with the First Call consensus of $0.27; revenues rose 14.7% year/year to $35.9 mln vs the $35.7 mln consensus.
16:01
SXE Stanley Inc. beats by $0.02, beats on revs; guides Q4 EPS in-line, revs in-line (27.37 -0.72)
Reports Q3 (Dec) earnings of $0.49 per share, $0.02 better than the First Call consensus of $0.47; revenues rose 11.5% year/year to $227 mln vs the $216.3 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.46-0.48 vs. $0.47 consensus; sees Q4 revs of $215-223 mln vs. $220.90 mln consensus. Contract backlog at December 25, 2009, was $2.1 billion, up from second quarter of fiscal year 2010 contract backlog of $2.0 billion at September 25, 2009, and essentially unchanged from third-quarter fiscal year 2009 contract backlog of $2.1 billion at December 26, 2008.
15:59
CNLG Conolog: Correction (1.71 -0.39) -Update-
In our 9:03 comment we incorrectly reported Conolog (CNLG) announced plan to construct a new fruit and vegetable powder manufacturing facility. China Nutrifruit Group (CNGL) announced its plan to construct a new fruit and vegetable powder manufacturing facility in Daqing, Heilongjiang Province. Our previous comment has been removed.
15:50
FXI Sector ETF strength & weakness approaching today's closing bell -Technical-
Actively Traded Leading Sector ETF Plays:
China 25- FXI +.75%, Ag commods- DBA +.75%, Commercial banks- KBE +.5%, Livestock commods- COW +.5%, Crude/WTI oil- USO +.25%, OIL +.25%, Yen currency shares- FXY +.25%, SPDRS homebulders- XHB +.25%
Actively Traded Lagging Sector ETF Plays:
Base metals- DBB -2.5%, Seims- SMH -2%, IGW -2.5%, Clean energy- PBW -2.5%, SPDRS tech- XLK -2.5%, Steel- SLX -2.5%, NDX 100- QQQQ -2.25%, US airlines- FAA -2%, iShares transports- IYT -2%, Silver- SLV -1.75%, Ag/chem- MOO -2%, Oil HLDRS- OIH -2%, Basic materials- IYM -1.75%, XLB -1.5%, Solar power- TAN -1.5%, Global shippers- SEA -1.75%
15:45
BA Boeing confirms Commercial Airplanes leadership changes (62.76 +0.83) -Update-
Co announces organizational changes intended to strengthen the company's focus on both performance and long-term strategy. In a move to strengthen processes, tools and functional excellence, Albaugh announced the following appointments: Howard Chambers will lead a newly created Commercial Airplanes function, Program Management, which will focus on the development of program-management skills and drive enterprise-wide best practices throughout the organization. He most recently was vice president and deputy program manager, 787 Program. Tim Copes was named vice president, Manufacturing and Quality, reporting to Ray Conner, vice president and general manager, Supply Chain Management and Operations. Copes most recently was president, Shared Services Group, for The Boeing Company. John Cornish was named vice president, 787 Final Assembly, reporting to Scott Fancher, vice president and general manager, 787 Program. Cornish most recently led Commercial Airplanes' Manufacturing and Quality organization. -- Mike Delaney was named vice president, Engineering, Boeing Commercial Airplanes. He has extensive engineering experience with all five Commercial Airplanes programs, including spending the last two years as 787 chief project engineer.
15:11
SPY Stock indices extend to new afternoon rebound highs -- Dow -69, S&P -7, Nasdaq -30 -Update- -Technical-
14:59
AMZN NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-
NDX 100 Best % Performers:
AMZN +3.25%, CTXS +2.25%, LIFE +2.25%, CHKP +1.5%, RIMM +1.5%, AMGN +.75%, FSLR +.50%, SPLS +.5%
NDX 100 Worst % Performers:
QCOM -14.25%, SYMC -5.75%, LRCX -5.5%, JBHT -5%, KLAC -5%, FLEX -5%, BRCM -4.25%, AMAT -4%, STX -3.75%, WCRX -3.5%, INFY -3.5%
NASDAQ TRIN @ +1.4
NASDAQ A/D @ -1240
14:56
PG Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-
INDU best % Performers:
PG +2.5%, BAC +1.5%, JPM +1%, BA +1%, JNJ +.75%
INDU Worst % Performers:
HPQ -3.25%, AXP -2.5%, AA -2.5%, CAT -2.25%, CSCO -2.25%
NYSE TRIN @ +.65
NYSE A/D @ -1470
14:51
AMZN Amazon.com notches a fresh session high, near resistance area (126.87 +4.12) -Update- -Technical-
A solid performer on a relative basis today ahead of its after hours earnings. It has pushed to a new session high of 127.20 in recent trade leaving it back near a resistance zone marked by its 20 day exp and the 38% retrace of the late Dec/Jan slump in the 127.17/127.46 area.
14:42
QQQQ NASDAQ trading volume pacing well ahead of yesterday's above-average totals as the index succumbs to heavy selling pressure -- See volume chart -Technical-
Trading volume on NASDAQ COMP is very heavy at this point in the session, pacing well above yesterday's tally at this juncture of the session. This is clearly 'bearish distribution' by funds and institutional market participants at this point as the index sells off sharply (-2%) on big volume. NASDAQ volume is on pace to far surpass the above-average totals of yesterday's session where the index actually experienced 'bullish accumulation.'
As of 2:30 ET, 2.0B shares have changed hands vs. 1.65B traded yesterday.
NASDAQ 60 min volume chart
14:39
COMDX NYMEX Energy Closing Prices
March crude oil ended lower by 3 cents to $73.64, March RBOB gasoline closed off 5.9 cents to $5.165, Feb heating oil gained 0.36 cents to $1.9204 and Feb RBOB gasoline shed 1.99 cents to $1.9193.
14:34
X U.S. Steel shares coming into yesterday's widely watched/high volume 45.05~45.00 LoD for possible support or failure (45.33 -1.27) -Technical-
X LoD now @ 45.24
14:07
USO March crude oil pushes into positive territory despite a modest tick higher in the US Dollar Index; crude is at $73.85 +0.18
14:01
ISYS Integral Systems unit has been awarded a contract by Iridium Communications (7.48 -0.03)
Co announced that its subsidiary, RT Logic, has been awarded a contract by Iridium Communications (IRDM) to supply two Telemetrix 400XR Modulator/Receiver (T400XR) modems. The T400XRs will serve as Iridium's next-generation satellite communication modems, handling all Iridium user voice and data between satellite phones and the terrestrial network for their Feeder Link Earth Terminal (FLT) Modem upgrade. Based in Bethesda, MD, Iridium Communications operates the Iridium satellite constellation, a system of 66 active satellites used for global voice and data communication.
14:00
PRK Park National ends At-The-Market common stock offering (57.16 -1.04)
Co announced the closure of its At-The-Market common stock offering (ATM program). The ATM program, with Sandler O'Neill & Partners, L.P. as sales agent, was one of several successful capital-raising activities Park conducted in 2009. The ATM program generated $16.7 million in capital (net of expenses, fees and commissions) through the sale of 288,272 common shares at an average price of $60.83.
13:53
TOD Todd Shipyards signs agreement with Washington State Ferries for detailed production design phase of contract to build ferries (15.10 +0.07)
Co announced that its wholly owned subsidiary, Todd Pacific Shipyards Corporation, has entered into an agreement, as part of its contract with the Washington State Ferries ("WSF") to build up to four 144-Auto Ferries, to provide the production ready design for ferry construction for $8.3 million.
13:34
SPY Fresh rebound highs for stock indices -- Dow - 100, S&P -10, Nasdaq -40 -Update- -Technical-
Leadership on the latest push (outperforming the S&P) has come from Finance XLF / RKH, Housing XHB, REITs IYR, Shipping, Ag/Chem MOO, Steel SLX, Coal KOL, Gold Miners GDX.
13:33
NSC Norfolk Southern seeks approval to declassify its board of directors (48.35 -2.08) -Update-
Co said it will seek to declassify its board of directors, as an enhancement to the company's corporate governance practices. Declassification would subject all Norfolk Southern directors to annual election, replacing the current structure in which three classes of directors are elected for staggered three-year terms.
13:32
COMDX COMEX Metals Closing Prices
Feb gold ended lower by $10 to $1074.50, March silver finished down 22.5 cents to $16.215 and March copper closed flat at $3.2225.
13:31
OWW Orbitz closes on debt and equity transactions (6.07 -0.15)
Co announced that PAR Investment Partners (PAR) and Travelport each completed their purchases of additional common shares of the company on Jan. 26, 2010. The share purchases were priced based on the market closing price of the company's common stock on Tuesday, November 3, 2009, which was $5.54. These purchases received shareholder approval on January 25, 2010. PAR exchanged $49.56 million aggregate principal amount of term loans for 8,141,402 common shares of the company. In addition, PAR has received the right to appoint one director to the company's board of directors. The company has retired the debt it received from PAR in accordance with the amendment to its senior secured credit agreement entered into in June 2009.
13:26
NLST NetList announces settlement of patent infringement lawsuits with MetaRAM (3.92 +0.12)
Co announced that it has reached a settlement in the patent infringement lawsuits with San Jose, CA-based MetaRAM. The settlement resolves a dispute between the two companies concerning the use of proprietary memory modules, power management operations and other related technology. Under the terms of the settlement, filed in U.S. District Courts in Delaware and Northern California, MetaRAM will not sell, offer to sell, release, or commercialize the MetaRAM DDR3 controllers in the U.S. or outside the U.S. Netlist contended that MetaRAM's DDR3 controllers and memory modules incorporating such controllers infringed its U.S. Patent No. 7,289,386, entitled "Memory Module Decoder." A provision in the settlement protects Netlist if another company purchases MetaRAM's patent and attempts to seek action against Netlist in the future.
13:16
AAPL Apple slips to fresh lows as it slips further below yesterday's low of 199.53 (198.96 -8.95) -Update- -Technical-
Jan pullback momentum low below at 197.16.
12:46
JPM JP Morgan Chase names Steve Black, Executive Chairman of the Investment Bank, as Vice Chairman of JPMorgan Chase (39.07 -0.25)
12:45
URZ Uranerz Energy received technical report for the Doughstick Project (1.15 +0.03)
Co announces that it has received an independent National Instrument 43-101 technical report for the Doughstick Project, Powder River Basin, Wyoming. The Technical Report estimates a "measured and indicated" mineral resource of approximately 967,883 pounds of uranium (eU3O8) at an average grade of 0.082% and an "inferred" mineral resource of approximately 87,981 pounds at an average grade of 0.055%. This mineral resource estimate was completed using accepted methods mandated by NI 43-101 and Canadian Institute of Mining, Metallurgy and Petroleum standards using a GT(i) cut-off of 0.20.
12:45
UUP Sector ETF strength & weakness here @ midday trading -Technical-
Actively Traded Leading Sector ETF Plays:
Yen currency shares- FXY +.25%, US Dollar index- UUP +.25%
Actively Traded Lagging Sector ETF Plays:
Semis- IGW -4%, SMH -3.5%, Steel- SLX -3.5%, Gold miners- GDX -3.25%, Silver- SLV -3%, Base metals- DBB -3%, SPDRS tech- XLK -3%, Clean energy- PBW -3%, NDX 100- QQQQ -3%, SPDRS metals/mining- XME -3%, US airlines- FAA -3.75%, Solar power- TAN -2.75%, Ag/chem- MOO -2.75%, Oil HLDRS- OIH -2.5%, Coal- KOL -2.5%, iShares trasnports- IYT -2.5%
12:37
GLD streetTRACKS Gold Shares ETF slides to fresh lows with the Dec. swing low @ 105.30 in play here (105.40 -1.11) -Technical-
LoD posts a slight undercut @ 105.25
12:34
COMDX Gold, silver trade to new lows
Gold currently off $7.00 to $1077.50; silver lower by 26 cents to $16.18.
12:32
QQQQ Nasdaq Comp -52 unable to hold at late morning low slips fractionally lower in recent action -Update- -Technical-
The next support zone for the index is in the 2162/2155 area (session low 2166). The S&P -17 and Dow -151 have thus far held above their late morning lows. Relative sector weakness in recent trade has been noted in Retail XRT, Energy/Commodity (XLE, OIH, XLB, MOO, SLX, KOL), Shipping SEA, Housing XHB, Solar TAN.
12:31
ACHN Achillion Pharma announces compound Demonstrates Excellent Potency Against HCV and Retains Activity Against Resistant Variants (2.48 +0.23)
Co announces the nomination of a lead clinical candidate in its third proprietary program against hepatitis C infection. The candidate, ACH-2684, demonstrates excellent potency in the low pico-molar range, as well as good pharmacokinetic and safety profiles in pre-clinical studies. "The potency and virology profile of ACH-2684 demonstrates that it very effectively suppresses a broad range of natural variants of the hepatitis C virus, and may be effective in prevention and treatment of emerging resistant variants. This compound also retains potent activity against all genotypes. The very high potency of ACH-2684 was achieved by optimizing its interactions against NS3 protease. We have demonstrated in vitro that ACH-2684 can be used in combination with other HCV inhibitors, and that it is synergistic with NS5B nucleoside polymerase inhibitors, We have leveraged our expertise in HCV drug discovery and structure-based design to create a set of compounds, including ACH-2684, that are part of a discrete intellectual property estate and to which we currently retain all commercial rights." Co also says "We are quite pleased to announce a clinical candidate from our third proprietary HCV program, further demonstrating our robust drug discovery expertise in this important therapeutic area. The compound, with its potency--resistance profile and preliminary safety characteristics, has the potential to be highly complementary to both our Gilead-partnered NS4A antagonist compounds as well as our ACH-1625 protease inhibitor, which recently achieved strong proof-of-concept results. We expect to move to IND-enabling pre-clinical testing of ACH-2684, and initiate a Phase 1/1b study in 2011."
12:07
TTEK Tetra Tech pushes to fresh gap up highs as it lifts back through the 20.00 "psych" area (20.70 -4.33) -Update- -Technical-
12:01
CTV Commscope to reduce Omaha workforce, consider options for facility (28.01 -0.44)
Co plans to reduce its workforce by approx 110 people at its Connectivity Solutions Manufacturing Inc. facility in Omaha. The layoffs will take effect in March and reduce the facility's workforce to fewer than 400 people. CommScope also is analyzing options for the facility's future as it works to become more efficient and protect the profitability of its business. These options include expanding the use of contract manufacturers and potentially closing the Omaha facility and relocating production to other, lower-cost, CommScope locations.
12:00
SEED Origin Agritech expects to report improved 2010 results; sees FY10 revs RMB 630-660 mln vs RMB 658.79 mln consensus (11.13 +0.62)
"While continuing to improve our overall efficiency, including our gross and operating margin, we remain extremely focused on investing in our future growth... We had another good quarter, as we continue to press on toward the completion of more advanced technologies and adding to our product offerings to drive improved performance going forward." Based on preliminary financial data, the company expects annual revenue for the FY10 to range from RMB 630-660 million. (This is same guidance given on Jan 14)
11:58
DAL Airline Index -XAL- displays intraday relative weakness but holds near 50 day avg support -Technical-
The market is broadly lower but the Airlines have lagged the S&P throughout. In recent action, however, the XAL has tested a support between its 50 day ema/sma at 32.37/32.12 (session low 32.18) so watching if this lagging sector can gain any traction near here. Individual names of interest include: CAL -2.7%, DAL -3.1% (holding near 20 day), UAUA -4.2%, LUV +0.3%, AAI -3.9% (held at 50 sma), LCC -1% (held near 50 sma yesterday), XJT -1.9%, JBLU -4.5% (holding near 200 day), SKYW -5.1%.
11:53
Rumor Round Up
Today's rumor mill has been very quiet. This morning renewed Rio Tinto (RTP 198.30 -5.48) for Freeport-McMoRan (FCX 69.77 -1.46) rumors circulated, however the shares did not react. Bloomberg also reported that Wansquare said Danone was again mulling a purchase of Mead Johnson (MJN 45.59 +1.59). We note Credit Suisse has repeatedly said they believe Mead Johnson was a ripe takeover candidate after its separation from Bristol Myers (BMY). 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 the volatility in the near term.
11:35
SPY Stock indices accelerate breakdown as S&P -19 joins the Dow -180 and Nasdaq -53 under yesterday's lows -Update- -Technical-
11:21
OICO O.I. Corporation announces cash dividend, expanded stock repurchase program, and extension of VAR agreement with Agilent Technologies (8.20 -0.07)
Co announces its Board of Directors declared a quarterly cash dividend of $0.05 per common share payable on March 1, 2010 to shareholders of record at the close of business on February 12, 2010. The Company also announced its Board of Directors has authorized the Company to repurchase up to an additional 100,000 shares of the Company's outstanding common stock under the Board's previously authorized August 2006 stock repurchase program. With this addition, the Company is authorized to purchase up to approximately 136,007 shares under the program. Finally, the co announced that the terms of its Value Added Reseller Agreement with Agilent Technologies have been extended and modified through an amendment. The amendment renews the Agreement through December 31, 2010, establishes new sales volume targets for the Company, and provides for volume-based discount on eligible products.
11:12
QQQQ Nasdaq Comp -40 weakest of the three majors slides back to support area -Update- -Technical-
Support at its Mid-Dec low, congestion and the 50% retracement of the Nov-Jan rally come into play in the 2178/2172 area with the Nasdaq Comp testing this area in recent trade (session low 2179).
11:09
SPY Dow -120 joins Nasdaq -41 under yesterday's low, S&P holding just above at 1083 -Update- -Technical-
10:56
SPY First-hour trading volume on NYSE & NASDAQ strongest of week amid heaving selling, particularly seen in NASDAQ COMPQ & NDX 100- See volume chart -Technical-
Both primary stock exchanges are exhibiting the heaviest first-hour trading volume of week as the indices succumb to heavy selling pressure, most notable in the NASDAQ space. This appears to be first-hour 'bearish distribution' among large market participants like funds and institutions and bears watching/tracking throughout today's trading session, especially after yesterday's high/above average trading volume accompanied with modest broad index gains.
As of 10:30 ET, 258M shares have changed hands on NYSE vs. 251M yesterday, while over on NASDAQ, 646M shares have traded vs. a 564M first-hour turnover yesterday.
NYSE 60 min volume chart
NASDAQ 60 min volume chart
10:55
PGTI PGT Inc. announces rights offering (2.06 -0.01)
Co announces on January 27, 2010, its board of directors declared a special dividend consisting of rights to purchase shares of the Company's common stock with an aggregate value of approx $30 mln.
10:53
SPY Stock indices slide to minor new session lows but Dow -89 and S&P -7.7 are still hovering above Wed. pullback lows -- Nasdaq -32 -Update- -Technical-
10:49
MA MasterCard back hovering near week lows/50 day (248.80 -7.53) -Technical-
The low end of this week's range and its 50 day sma/ema come into play in the 248.09/247.57 -- session low 248.58.
10:43
FSTR L.B. Foster Company unit to supply 23,000 concrete rail ties (26.63 -0.04)
CXT, Inc., a wholly owned subsidiary of L.B. Foster has been awarded a contract by West Rail Construction to supply 23,000 concrete rail ties for the unloading system at EGT's Columbia River Grain Terminal. CXT plans to start shipment of ties from its Spokane manufacturing plant to the new Longview, WA riverside facility in February 2010.
10:35
KBE Sector ETF strength & weakness through today's 1st hour of trading -Technical-
Actively Traded Leading Sector ETF Plays:
Commercial banks- KBE +.5%, SPDRS cons stpls- XLP +.5%, China 25- FXI +.5%, SPDRS homebuilders- XHB +.5%, iShares S Kores- EWY +.5%, Ag commods- DBA +.25%
Actively Traded Lagging Sector ETF Plays:
Semis- IGW -2.5%, SMH -2.25%, SPDRS tech- XLK -2%, NDX 100- QQQQ -2%, Ag/chem- MOO -1.5%, Gold miners- GDX -1.25%, Steel- SLX -1.25%, iShares transports- IYT -1.5%
10:31
NFLX Netflix slips to fresh gap up lows as it dips down to challenge the 61.00 area (61.11 +10.04) -Update- -Technical-
10:30
UNG Natural gas puts in fresh lows, following inventory data, at $5.06; now lower by 6.2 censt to $5.162
10:29
LIFE NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
LIFE +5%, CHKP +2.25%, CTXS +2%, WYNN +1.75%, PPDI +1.75%, AMZN +1.5%, AMGN +.5%, RIMM +1.5%, SPLS +.25%
NDX 100 Worst % Performers:
QCOM -12.5%, FLEX -6.5%, SYMC -6.5%, JBHT -6%, LRCX -5.25%, AAPL -4%, KLAC -3.5%, AMAT -3.5%, WCRX -3%, STX -3%, ALTR -3%
NASDAQ TRIN @ +1.3
NASDAQ A/D -785
10:27
SMH Semiconductors Hldrs Trust continues to lag, holding just above last week's low at 25.53 -- session low 25.58 (25.58 -0.56) -Technical-
LSI -9%, LRCX -5.1%, INTC -1.1%, ADI -2.7%, ALTR -2.9%, AMD -2.7%, AMKR -2.7%, ATML -2.3%, BRCM -2.9%, KLAC -3.7%, LLTC -2.4%, NSM -3%, NVLS -3.4%, TER -4.3%, TXN -1.3%, XLNX -2%.
10:26
PG Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
PG +3%, BA +.75%, BAC +.5%, JNJ +.25%
INDU Worst % Performers:
CAT -3%, AXP -2.5%, HPQ -2.25%, MSFT -1.75%, AA -1.5%, TRV -1.5%, CSCO -1.25%
NYSE TRIN @ +.70
NYSE A/D @ -830
10:23
CTC IFM Investments (Century 21 China): Opened for trading this morning at $7.15/share (7.16 ) -Update-
10:19
SPY S&P -7.3 vacillating near support at 1091/1090 -Update- -Technical-
Highlighted support at 1091/1090 for the S&P in The Technical Take and we have seen this area tested after the mildly favorable start. Intraday unless the index can push back through 1092/1093 and then 1095 it will remain vulnerable to further downticks. The obvious support below is at 1085/1083 (Nov-Dec range lows/yesterday's low).
10:14
COMDX Gold and silver pull back towards the flat line as the dollar index moves towards its best levels of the morning
Gold is now higher by $2.10 to $1086.60 and silver is currently up 4.5 cents to $16.485.
10:14
QQQQ Nasdaq Comp retests yesterday's low/Oct peak at 2192/2190 -- session low 2192 (2195 -25) -Update- -Technical-
10:13
LLY Eli Lilly extends early slide back near its 200 day ema at 35.30 -- session low 35.27 (35.27 -1.11) -Update- -Technical-
Its two month close low and congestion follows in the 35.00 area.
10:11
BA Boeing displays opening relative strength as it extends yesterday's high volume earnings-induced push higher up above its Jan range/52-wk high of 62.31 (62.67 +0.74) -Update- -Technical-
10:09
MHR Magnum Hunter announces confirmation by U.S. Bankruptcy Court of Triad Energy's plan of reorganization (2.15 0.00)
Co announced today that the United States Bankruptcy Court had entered an order confirming Triad Energy Corp.'s Plan of Reorganization. The Confirmation Order ratifies and approves Magnum Hunter's Asset Purchase Agreement to acquire substantially all of the assets of Triad and certain of its affiliated entities which was originally executed on October 28, 2009. The Triad assets being acquired primarily consist of oil and gas property interests in approximately 2,000 operated wells and include over 88,000 net mineral acres located in the states of Kentucky, Ohio, and West Virginia, a natural gas pipeline, salt water disposal facilities, three drilling rigs, workover rigs, and other oilfield equipment. The Company anticipates the financial closing of the Triad acquisition will be prior to February 15, 2010.
10:06
SPY Fresh lows for stock indices -- Dow -52, S&P -5.5, Nasdaq -21 -Update- -Technical-
Relative sector weakness (underperforming the S&P) note in Energy XLE / OIH, Materials XLB, Retail XRT, Semi SMH, Ag/Chem MOO, Steel SLX, Housing XHB.
10:04
S&P comments on the U.K. banking system
S&P says "we no longer classify the United Kingdom (AAA/Negative/A-1+) among the most stable and low-risk banking systems globally, Standard & Poor's Ratings Services noted in a report titled "Banking Industry Country Risk Assessment: United Kingdom" published today on RatingsDirect. This is due to our view of the country's weak economic environment, the reputational damage we believe has been experienced by the banking industry, and what we see as the high dependence on state-support programs of a significant proportion of the industry. We placed the U.K.'s banking system in Group 3 out of our 10 Banking Industry Country Risk Assessment (BICRA) groups on Dec. 21, 2009, which primarily reflects our view of relatively high leverage in the U.K. economy and the losses the industry could bear during the deleveraging process. (For more information, see "U.K. BICRA Revised Downward To Group 3 From Group 2 Due To High Leverage In The Economy And Weak Earnings Prospects".) The scale ranges from Group 1 (strongest) to Group 10 (weakest). The macroeconomic and banking industrywide factors that affect the BICRA influence all bank counterparty credit ratings in the U.K. "In our opinion, the weak U.K. economy will continue to hinder the credit profile of the U.K. banking industry. This reflects the sharp decline in economic output and our expectation that the unwinding of the high level of debt (of the government, households, and certain industrial segments) will weigh heavily on relative economic growth prospects and banks' financial performance," said Standard & Poor's credit analyst Nigel Greenwood."
10:01
GAIN Gladstone Investments appoints David Watson as Chief Financial Officer (4.83 -0.06)
10:00
SBUX Starbucks recalls glass water bottles due to laceration hazard (22.43 +0.02)
09:59
CAH Cardinal Health extends its gap up open higher intraday as it elevates up into its Dec-Jan range/52-wk high of 33.28 (33.27 +1.97) -Update- -Technical-
09:57
PG Procter & Gamble notches new session high of 63.25, approaching its Dec and Nov/52-wk highs at 63.39/63.48 (63.25 +2.44) -Update- -Technical-
09:55
SPY Dow -33 and S&P -2.7 follow Nasdaq -15 into the red -Update- -Technical-
The S&P has pulled back to the 38% retracement of the rally off yesterday's post-FOMC low to this morning's high near 1094. A secondary support area is at 1091/1090. Thus far the Nasdaq Comp has held near first level support noted in The Technical Take at 2209/2205 but limited intraday interest has been noted near this area thus far.
09:48
RIMM Research In Motion displays relative strength against the tech sector as it pushes to fresh highs modestly above yesterday's high of 64.22 (64.32 +0.86) -Technical-
Would note that the 65.00 area comes into play as initial resistance.
09:47
CTO Consolidated-Tomoka Land declared a dividend of $0.01 per share, down from $0.05 per share (33.10 -0.26)
09:44
GMCR Green Mtn Coffee extends its gap up open higher intraday as it lifts up into its Jan range/all-time high of 85.97 (85.16 +5.11) -Update- -Technical-
09:43
AMGN Amgen showing strength off the opening to challenge 2-month range highs along the $58 area (58.14 +0.40) -Update- -Technical-
09:41
QCOM Qualcomm extends gap down start near its 8 month close/intraday lows at 40.68/40.15 (40.57 -6.60) -Update- -Technical-
09:38
QQQQ Nasdaq Comp -9.3 slipping back toward initial support zone at 2209/2205 -- session low 2211 -Update- -Technical-
09:36
SMID Smith-Midland Corporation awarded a contract to construct a precast concrete soundwall (1.60 +0.05)
Co awarded a contract to construct a precast concrete soundwall along the new Intercounty Connector in Montgomery County, Md. Worth more than $7.8 million, it is the largest contract in the company's 50-year history. The project includes 607,000 square feet of noise barrier panels that will stretch east of MD97 to just west of US29, between Rockville and Silver Spring. The project began in late 2009 and is expected to be completed in January 2011.
09:36
POT Potash shares gap sharply lower into potential rising 200 day EMA support @ 103.75 mark (103.56 ) -Update- -Technical-
LoD undercuts the 200 day EMA now @ 103.28
09:35
QQQQ NASDAQ 100 -17.5 lags in early trade, Nasdaq Comp -5 -Technical-
Weighing are QCOM -14.2%, SYMC -3.3%, FLEX -2.7%, AAPL -2.1%, APOL -2.1%, GILD -1.5%, LRCX -1.5%, HANS -1.5%.
09:32
HNZ HJ Heinz shares open higher as price probes 52 week high price resistance @ 43.75 (43.74 +.21) -Technical-
HoD @ 43.89
09:31
AMGN Amgen shares open up & trade into notable four month technical resistance surrounding the 58.00 level (57.87 +.13) -Technical-
HoD @ 58.00
09:30
NFLX Netflix gaps higher to challenge its mid Nov/all-time high of 61.65 (61.25 +10.27) -Update- -Technical-
09:20
ICE IntercontinentalExchange Gasoil futures contract sets open interest record; record OI for ICE coal futures (97.06 )
Co announces new open interest records for ICE Futures Europe. The ICE Gasoil futures contract established a new open interest record of 612,897 contracts on Jan. 27. The ICE Richards Bay Coal futures also established an open interest record of 33,050 contracts on Jan. 27, following record open interest in the ICE Rotterdam Coal futures of 60,242 contracts on Jan. 25. Total open interest across all three ICE coal futures contracts now stands at over 110,000 contracts.
09:18
COLB Columbia Banking reports net income per share of $0.02 vs. ($0.10) First Call consensus; revenue grew 7% y/y to $38.3 mln vs. $37.2 mln consensus (18.48 )
At Dec 31, 2009, COLB's total assets were $3.2 bln, an increase of 3% from $3.10 bln at Dec 31, 2008. Total loans were $2.01 bln at Dec 31, 2009, down 10% from $2.23 bln at year-end 2008. Total securities increased $91.7 mln to $631.6 mln at Dec 31, 2009 as a result of management's asset/liability strategies. Total deposits were $2.48 bln at Dec 31, 2009, an increase of 4% from $2.38 bln at Dec 31, 2008, and an increase of 2% from $2.44 bbln at Sept 30, 2009. Core deposits, defined as demand, savings, money market accounts and certificates of deposit under $100,000, totaled $2.07 bln at December 31, 2009, comprising 83% of total deposits.
09:12
On The Wires -Update-
China Nutrifruit Group Limited (CNGL) announces the Company's plan to construct a new fruit and vegetable powder manufacturing facility in Daqing, Heilongjiang Province... Presstek (PRST) announces that Presstek Asia has been formed as a legally incorporated entity to better enable Presstek to support its growing distribution channel in Asia and to further its strategic growth initiative of international expansion... Harmonic (HLIT) announces that Insight Communications has deployed a full complement of Harmonic's digital video technologies for a network upgrade, including SD and HD encoders with integrated video/audio re-encoding technology and distributed statistical multiplexing... Skinvisible, Inc.'s (OTCBB: SKVI) licensee, JD Nelson and Associates, announces that reorders have been received as a result of the successful launch last week of their new product Safe4Hours First Aid Antiseptic Skin Protectant in over 7,000 Walgreens stores (WAG). Re-orders have been received from eleven of twelve distribution centers... Neustar (NSR) announces that it has been selected by the Digital Entertainment Content Ecosystem to provide a clearinghouse solution for the industry consortium. Neustar will develop and manage the consortium's Digital Rights Locker, a cloud-based authentication service and account management hub that provides consumers with access to their digital entertainment. The launch of the Digital Rights Locker is targeted for the second half of 2010... Cleveland BioLabs (CBLI) announces that the European Patent Office has granted its European Patent Application Number 04813124.7l, titled "Methods of Protecting Against Radiation Using Flagellin." Allowed claims cover the method of protecting a mammal from radiation using flagellin or its derivatives, including Protectan CBLB502... CIBT Education Group (MBA) announces that its subsidiary Sprott-Shaw Degree College has acquired a master license from the American Hotel & Lodging Educational Institute to offer hotel management, travel tourism, and hospitality education programs in the Philippines... MedQuist (MEDQ) issued a statement today outlining its readiness for the extension of Health Information Portability and Accountability Act security provisions in February 2010 to firms deemed "business associates" of healthcare providers, as well as the provisions of the Health Information Technology for Economic and Clinical Health Act addressing the privacy and security of protected health information
09:08
LINE Linn Energy announces Arden Walker as Chief Operating Officer, effective Jan 27 2010 (25.51 )
09:08
EXXI Energy XXI Announces Effectiveness of 1-for-5 Share Consolidation (3.67 )
Co announced it will effect a share consolidation, on the basis of one share of common stock for every five shares of the company's current common stock, which will become effective after normal trading hours today. Post-consolidation shares of the company's common stock will commence trading tomorrow, Jan. 29, 2010, on both NASDAQ and on AIM, a market of the London Stock Exchange.
09:05
ENB Enbridge to provide additional pipeline and terminal facilities to support expansion of the Christina Lake enhanced oil project (43.76 )
Co announced that it has entered into an agreement with FCCL Partnership to provide additional pipeline and terminal facilities to support expansion of the Christina Lake enhanced oil project, which is operated by Cenovus Energy. The estimated cost of the additional facilities is approximately $250 million with a planned in service date late in 2011. Enbridge's existing Christina Lake lateral and terminal facilities include two 8-inch lateral lines plus 240,000 barrels of tankage, and connect the enhanced oil project to Enbridge's Athabasca Pipeline. The Athabasca Pipeline, together with the Waupisoo Pipeline and associated lateral and terminal facilities, constitute Enbridge's Regional Oil Sands System delivering crude oil from five producing oil sands projects to the Hardisty and Edmonton mainline hubs. The additional Christina Lake facilities will include two 375,000 barrel tanks and 26 kilometers of 30-inch diameter pipeline, and will readily accommodate the current and planned future expansions of the Christina Lake enhanced oil project.
09:04
DPM DCP Midstream (30.69 -0.28)
Co announced that it has acquired an interstate natural gas liquids (NGL) pipeline system from Buckeye Partners, L.P. (BPL) for $22 million in cash. The 350 mile pipeline originates in the Denver-Julesburg Basin in Colorado and terminates near the Conway hub in Bushton, Kansas. DCP Midstream, owner of the Partnership's general partner, currently utilizes the NGL pipeline as a market outlet for NGL production from certain of its plants in the DJ Basin.
09:04
VVTV ShopNBC announced that Bob Ayd has been named President of the company (4.32 )
09:02
BEN Franklin Resources beats by $0.13, beats on revs (103.88 )
Reports Q1 (Dec) earnings of $1.54 per share, $0.13 better than the First Call consensus of $1.41; revenues rose 42.1% year/year to $1.38 bln vs the $1.36 bln consensus. Net new flows for the quarter ended December 31, 2009 were $14.3 billion, as compared to $12.2 billion for the prior quarter and $(18.2) billion for the same quarter a year ago. Total assets under management by the company's subsidiaries were $553.5 billion at December 31, 2009, as compared to $523.4 billion at September 30, 2009 and $416.2 billion at December 31, 2008.
09:02
SHAW Shaw Group awarded a five-year IDIQ contract by the U.S. Army Corps of Engineers' Kansas City District for environmental remedial action services (30.17 )
09:02
BC Brunswick misses by $0.08, reports revs in-line (12.31 )
Reports Q4 (Dec) loss of $1.40 per share, $0.08 worse than the First Call consensus of ($1.32); revenues fell 21.5% year/year to $657.3 mln vs the $658.9 mln consensus. "Although our plans reflect a modest reduction in retail marine demand, our boat facilities will gradually increase wholesale shipments throughout the year because dealer inventories are at historically low levels. The increase in wholesale boat shipments will require us to raise production rates throughout the year. Additionally, although over-supply conditions still exist in the overall marine market, we believe that based on our 2009 achievements in lowering our dealer pipeline, the amount of discounts will be lower in 2010 as compared to 2009. The factors affecting our Boat segment should also lead to revenue growth in our engine business, but the anticipated sales improvement will be less due to the mix of businesses within the Marine Engine segment. Specifically, Mercury's parts and accessories business and its international operations, which together currently account for roughly 72 percent of the segment's revenues, are expected to grow at substantially lower rates than Brunswick's Boat segment."
09:02
VRUS Pharmasset prices offering of 1.6 mln common shares at $18.75/share (19.92 )
09:01
STBA S & T Bancorp announces resignation of Bob Rout as Chief Financial Officer (18.54 ) -Update-
Co announces that Chief Financial Officer Bob Rout has resigned to pursue another opportunity. Rout's decision was not based on any disagreement with S&T's operations, accounting principles or practices, or financial statement disclosures. Rout's resignation is effective February 5, 2010, and he will be assisting in transition efforts.
09:00
CBLI Cleveland Biolabs granted European Patent for radiation protection drug CBLB502 (3.97 )
08:59
CBEH China Bio Energy signed a contract to deliver an estimated 160,000 tons of petroleum products (6.78 )
Co announced that it has signed a contract with an existing wholesale distribution customer to deliver an estimated 160,000 tons of petroleum products in 2010, an increase of 62,000 tons over sales to this customer in 2009. The newly signed contract is expected to generate an additional $52 million in revenue from this customer in 2010.
08:58
SY Sybase beats by $0.11, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS in-line, revs in-line (41.38 )
Reports Q4 (Dec) earnings of $0.80 per share, $0.11 better than the First Call consensus of $0.69; revenues rose 8.7% year/year to $331.7 mln vs the $310.6 mln consensus. Non-GAAP operating margin of 35% for Q4. Co issues guidance for Q1, sees EPS of $0.54-0.56 vs. $0.54 consensus; sees Q1 revs of $285-295 mln vs. $284.24 mln consensus. Co issues in-line guidance for FY10, sees EPS of approx $2.59 vs. $2.59 consensus; sees FY10 revs of approx $1.23 bln vs. $1.23 bln consensus.
08:47
HP Helmerich & Payne beats by $0.09, beats on revs (45.19 )
Reports Q1 (Dec) earnings of $0.59 per share, $0.09 better than the First Call consensus of $0.50; revenues fell 35.9% year/year to $399.8 mln vs the $378.6 mln consensus. Rig utilization for the company's U.S. land segment was 62% for this year's first fiscal quarter, compared with 95% for last year's first fiscal quarter and 55% for last year's fourth fiscal quarter. At December 31, 2009, the company's U.S. land segment had 143 contracted rigs and 67 idle and available rigs.
08:46
BIIB Biogen Idec receives notice of intention from Icahn Partners to nominate three directors (53.58 ) -Update-
Co announces that it has received notice from Icahn Partners LP and certain of its affiliates of their intention to nominate three individuals, Thomas F. Deuel, Eric K. Rowinsky and Richard A. Young, to Biogen Idec's Board of Directors at the Company's 2010 Annual Meeting. The notice also includes a proposal to amend the Company's bylaws to fix the number of directors at 12.
08:43
ABII Abraxis BioScience plans to spin-off Abraxis Health in 2010 and announces appointment of Bruce J. Wendel as CEO (41.36 )
Co confirms that it intends to spin-off the Abraxis Health division this year. "By spinning off Abraxis Health as an independent, stand-alone company, we believe we will enhance the intrinsic value of both companies by allowing each company to pursue its differing drug development and commercialization strategies," said Patrick Soon-Shiong, M.D., Executive Chairman of Abraxis BioScience. Concurrently, Abraxis BioScience announced that Bruce J. Wendel has been appointed Vice Chairman of the board of directors and Chief Executive Officer. Mr. Wendel succeeds Lonnie Moulder, who is leaving the company to pursue other opportunities. Dr. Soon-Shiong will continue as Executive Chairman of Abraxis BioScience. Following the spin-off, it is expected that Dr. Soon-Shiong will continue to serve as Executive Chairman of Abraxis BioScience and as Chief Executive Officer and Chairman of Abraxis Health. Mr. Wendel is anticipated to continue to serve as Chief Executive Officer of Abraxis BioScience following the spin-off.
08:40
MJN Mead Johnson Nutrition misses by $0.03, reports revs in-line (44.00 )
Reports Q4 (Dec) earnings of $0.48 per share, excludes items, $0.03 worse than the First Call consensus of $0.51; revenues rose 0.9% year/year to $714.4 mln vs the $715.2 mln consensus. Co issues downside guidance for FY10, sees EPS of $2.30-2.40, excluding non-recurring items, vs $2.43 First Call consensus.
08:37
RCL Royal Caribbean beats by $0.08, reports revs in-line; guides Q1 EPS above consensus; guides FY10 EPS above consensus (25.43 )
Reports Q4 (Dec) earnings of $0.02 per share, $0.08 better than the First Call consensus of ($0.06); revenues fell 0.3% year/year to $1.45 bln vs the $1.44 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.25-0.30 vs. $0.03 consensus. Co issues upside guidance for FY10, sees EPS of $1.61-1.81, excluding a $0.39 legal settlement gain vs. the $1.48 consensus. The co reported that early "wave season" bookings have been encouraging and that since the beginning of September, new bookings have been running approximately 30% higher than the corresponding period a year ago. Current price levels are also ahead of the same time last year across the majority of the company's product groups. Net Yields for the fourth quarter decreased 7.2% as compared to 2008 and guidance of a 7% to 8% decline. -- Net Cruise Costs per APCD ("NCC") for the fourth quarter decreased 10.5% versus 2008. NCC excluding fuel for the fourth quarter declined 8.8% versus 2008.
08:36
On The Wires
American Lorain Corporation (ALN) announces that it has launched an upgraded "cold-dish" product line with extended shelf life for food retail counters... CIBER (CBR) has been awarded a contract with Navman Wireless Holdings. Navman Wireless engaged CIBER to implement SAP software solutions for financials, sales and product services, including the SAP ERP and SAP Customer Relationship Management applications... Cadence Design Systems (CDNS) revealed an ongoing collaboration to leverage STARC's regression suites to ensure the high quality of electronic design automation software for advanced chip design. The regression suites and validation flow were developed by STARC and its member companies to qualify EDA software for use by consortium members... BroadSoft and Polycom (PLCM) introduce voice and video solution delivered over one common infrastructure. V2Connect leverages Polycom's Open Collaboration Network strategy with BroadSoft's BroadWorks VoIP application platform.
08:34
IEC IEC Electronics reports Q1 revs of $18.1 mln vs. $15.9 mln a year ago; EPS of $0.08 a share vs. $0.06 a share a year ago (4.15 )
"Some of our customers continue to face significant difficulties in this weak economy. However others continue to expand, and in turn expand their commercial activity with us. This is attributable to increases in their end market activity and also endorses our performance as it appears that we are taking market share from others. We view this as recognition of our continuing commitment to serving our customers as closely to 'Absolutely, Positively Perfect and On Time' as we can."
08:34
DLX Deluxe beats by $0.08, beats on revs; guides Q1 EPS above consensus, revs below consensus; guides FY10 EPS above consensus, revs in-line (16.07 )
Reports Q4 (Dec) earnings of $0.70 per share, $0.08 better than the First Call consensus of $0.62; revenues fell 6.7% year/year to $340.3 mln vs the $336.2 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.57-$0.64 vs. $0.54 consensus; sees Q1 revs of $320-$335 mln vs. $336.02 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.35-$2.65 vs. $2.35 consensus; sees FY10 revs of $1.275-$1.335 bln vs. $1.31 bln consensus.
08:34
MPW Medical Properties Trust beats by $0.03, misses on revs (9.89 )
Reports Q4 (Dec) funds from operations of $0.23 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.20; revenues rose 11.5% year/year to $32.9 mln vs the $33.8 mln consensus. "Given the compelling dynamics of our business model within healthcare real estate and the attractive pipeline of potential acquisitions, we continue to remain excited about the prospects for strong growth levels throughout the year. As a result of this as well as increased stability in both the real estate and credit markets, the Company currently expects to invest approximately $150 million in healthcare real estate assets in 2010."
08:33
APPY AspenBio Pharma entered into a strategic relationship with LRE Medical GmbH (2.17 )
Co announced that it has entered into a strategic relationship with LRE Medical GmbH (LRE) to complete commercial development and manufacture of the reader instrument to be used with the AppyScore cassette system. LRE, a wholly owned subsidiary of Esterline Corporation (ESL).
08:31
RAD Rite Aid Jan same store sales decreased 2.1% (1.38 )
Front-end same store sales decreased 2.1 percent while pharmacy same store sales, which included an approximate 210 basis points negative impact from new generic introductions, were down 2.1 percent. Prescriptions filled at comparable stores decreased 1.1 percent over the prior-year period.
08:30
SPY E~mini index futures see slight downtick following two key pieces of econ. data, still holding marginal gains -Technical-
ES +4
NQ +3
YM +26
08:28
FCF First Commonwealth beats by $0.04 (6.15 )
Reports Q4 (Dec) earnings of $0.04 per share, $0.04 better than the First Call consensus of ($0.00). The YoY decline was primarily the result of a $10.4 million ($6.8 million after tax) increase in the provision for credit losses as well as an increase of $943 thousand ($613 thousand after tax) in other-than-temporary impairment charges. The higher provision was primarily related to a commercial and industrial (C&I) loan in Western Pennsylvania that migrated to nonaccrual status during the fourth quarter of 2009. The other-than-temporary impairment charges resulted from further credit deterioration of the co's pooled trust preferred collateralized debt obligations. The 2009 fourth-quarter net interest margin decreased nine basis points to 3.78%, compared with 3.87% in the corresponding prior-year period. The decrease in net interest margin can be attributed to declines in yields on total interest-earning assets exceeding the cost of interest-bearing liabilities.
08:16
SUMRX Today's Economic/Fed Calendar
Key economic data:
-December Durable Goods Orders (consensus 2.0%; revised prior -0.7%) and Orders ex-transportation (consensus 0.5%; revised prior 1.5%) at 8:30 a.m. ET
-Initial Jobless Claims for the week ended Jan. 23 (consensus 450,000; prior 482,000) and Continuing Claims for the week ended Jan. 16 (consensus 4.593 mln; prior 4.599 mln) at 8:30 a.m. ET
Federal Reserve/Treasury:
-None
08:14
ALK Alaska Air misses by $0.20, beats on revs (36.50 )
Reports Q4 (Dec) earnings of $0.12 per share, excluding a net $0.45 gain from special items, $0.20 worse than the First Call consensus of $0.32; revenues rose 2.3% year/year to $846.1 mln vs the $821.2 mln consensus. "Our traffic and unit revenue performance, driven by positive network changes, outpaced the industry throughout the year. This performance, combined with lower fuel costs, placed Alaska Air Group's profitability among the best in the industry for 2009. This marks our sixth consecutive year of profits on an adjusted basis."
08:11
ECONX Reminder: Initial Claims and Durable Orders data due out in about 19 min at 8:30ET
08:11
UTX United Tech's Pratt & Whitney share of Jetstar Airways order potentially valued in excess of $1 billion (67.61 )
Jetstar Airways, a subsidiary of Qantas Airways, has awarded International Aero Engines (IAE) an order for V2500 engines to power a new fleet of 50 Airbus A320-family aircraft, with the option to purchase V2500 engines for up to 40 more aircraft. The airline also signed a 15-year aftermarket services agreement with IAE covering these new engines, as well as V2500 engines installed on 44 aircraft the three Jetstar airlines currently operate. The value to Pratt & Whitney of the order and aftermarket agreement could exceed $1 billion if all options are exercised. Pratt & Whitney is a United Technologies Corp. (UTX) company and a major participant in IAE.
08:10
HUB.B Hubbell Inc beats by $0.11, reports revs in-line (44.97 )
Reports Q4 (Dec) earnings of $0.84 per share, $0.11 better than the First Call consensus of $0.73; revenues fell 9.2% year/year to $591.9 mln vs the $593.5 mln consensus. "Turning to 2010, our outlook is in line with our last earnings call in October. We expect our largest market, non-residential construction, to decline by approximately 20%. Construction activity is expected to decline on the heels of sharply lower construction starts throughout the past year and a half. The utility market for transmission and distribution products is expected to grow modestly. The growth should be driven by the build out of new transmission lines from alternative energy sources such as wind, infrastructure spending to upgrade and modernize the grid that is supported by stimulus spending and a housing recovery. The industrial markets are likely to improve from severely depressed levels in 2009; we are beginning to see early signs of this with the latest data including capacity utilization data trending upward. The residential market is expected to improve from historically low levels but we remain cautious about the magnitude of the recovery being forecasted. When you combine all of these end market outlooks with the full year impact of Burndy we would expect to have approximately the same level of sales in 2010 as 2009 (consensus calls for a 2.7% increase in FY10 sales)... While we expect another year of lower organic sales, I am confident the organization will continue to favorably respond to those challenges."
08:09
BTU Peabody Energy approved the upgrade and expansion of the Metropolitan Mine (45.79 )
Co approved the upgrade and expansion of the Metropolitan Mine in New South Wales, Australia. The expansion is expected to increase capacity by 1 million tons within several years. Capital investments for the expansion are expected to total $70 million, of which approximately $15 million is targeted for 2010. Metropolitan Mine received final permits to proceed with the expansion in the second half of 2009.
08:09
CY Cypress Semi beats by $0.05, beats on revs; expects Q1 rev to exceed consensus (11.06 )
Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.11; revenues rose 17.5% year/year to $194 mln vs the $184.5 mln consensus. Co says Q1 revenue is expected to exceed current Street consensus and its internal plan. "We are pleased to report a strong sequential revenue increase of 8.5% in what is seasonally a down quarter. The growth occurred in all core divisions. We exceeded the upper end of our guidance due to both strong growth in our PSoC-based touchscreen products and strength in our high-performance SRAM business. We continue to achieve significant design wins with our proprietary products -- especially our TrueTouch touchscreen products. Customers are providing increased booking visibility into Q1 and Q2, and our semiconductor book-to-bill ended Q4 at 1.13 -- a significant milestone since we rarely have a positive book-to-bill entering Q1 due to consumer seasonality. Lead times have not increased and we see no signs of double ordering..."
08:09
UXG US Gold Corp announces results from two areas at the El Gallo Project (2.30 )
Co announces results from two areas at the El Gallo Project in Sinaloa State, Mexico. These results represent the first four core holes drilled at El Gallo in 2010. Highlights include: 18.6 ounces of silver per ton (opt) over 134.2 ft (feet) (638.0 grams per tonne (gpt) over 40.9 m (meters)) and 4.4 opt silver over 239.2 ft (150.9 gpt silver over 72.9 m). Mineralization in both holes starts near-surface.
08:07
On The Wires
Motorcar Parts of America (MPAA) announces a strategic initiative to expand its presence within the heavy-duty alternator and starter market with the release of its new Xtreme heavy-duty catalog for off-highway applications, covering agricultural, forestry, forklifts, industrial, marine and mining requirements... Idera Pharmaceuticals (IDRA) announces initiation of a Phase 1 clinical trial of IMO-3100, an antagonist of Toll-like Receptor 7 and TLR9... American Lorain Corporation (ALN) announces that it has launched an upgraded "cold-dish" product line with extended shelf life for food retail counters... Novella Clinical and OSI Pharmaceuticals (OSIP) will expand their existing clinical service agreement. Under the terms of the new agreement, effective February 1, 2010, Novella will provide clinical research and related services to OSI for a period of two years as OSI transitions its clinical operations to its new Ardsley, New York campus. Novella will assume use of some of OSI's facilities in Boulder and employ members of OSI's Boulder staff.
08:05
AVT Avnet beats by $0.07, beats on revs; guides Q3 EPS above consensus, revs in-line (27.86 )
Reports Q2 (Dec) earnings of $0.66 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.59; revenues rose 13.3% year/year to $4.84 bln vs the $4.55 bln consensus. Co issues mixed guidance for Q3, sees EPS of $0.53-0.61, excluding non-recurring items, vs. $0.52 consensus; sees Q3 revs of $4.10-4.70 bln vs. $4.31 bln consensus. "Avnet's strong growth this quarter provides further evidence that the global economy has begun the next growth cycle as sales at both operating groups came in well above normal seasonality and our upwardly revised expectations for the quarter. This strength was widespread as all three regions in both EM and TS delivered sequential growth that was well above normal seasonality after adjusting for the extra week in the September quarter. Operating leverage was also strong as operating income grew nearly five times faster than revenue sequentially, driving operating income margin up 90 basis points. Return on working capital was up 887 basis points sequentially and 664 basis points year over year, driven by the sequential improvement in operating income margin coupled with record working capital velocity. This performance demonstrates the operating leverage in our financial model and the ongoing benefits of our focus on return on capital as the industry returns to growth."
08:05
GTCB GTC Biotherapeutics and LFB Biotechnologies are moving forward with their plans to file an IND
The co and its strategic partner LFB Biotechnologies announced that, following discussions with the FDA, they are moving forward with their plans to file an IND for a phase I study for the transgenically derived recombinant human Factor VIIa (rhFVIIa) being developed in their joint venture. This rhFVIIa is being developed for the treatment of hemophilia patients who have developed antibodies to Factor VIII or Factor IX. GTC and LFB plan to initiate the phase I study in the second quarter of 2010.
08:05
OXPS OptionsXpress reports EPS in-line; misses on revs (14.54 )
Reports Q4 (Dec) earnings of $0.26 per share, in-line with the First Call consensus of $0.26; revenues rose 5.1% year/year to $60.1 mln vs the $61.7 mln consensus. "In 2009, optionsXpress delivered double-digit net new account growth and brokerage pretax margins of 46%. We are pleased with these results, particularly amidst the very difficult economic backdrop that included the highest unemployment rates in 25 years and extraordinary low short-term interest rates," remarked David Fisher, Chief Executive Officer of optionsXpress.... We were very pleased by the resiliency of both our customers and the broader derivatives markets during 2009 as exemplified by our customer assets ending the year at an all time high of $7 billion, up 43% versus last year, and industry-wide option volumes eclipsing 2008 levels - providing a strong base for our long-term success. In addition, we continued our history of innovation with many product enhancements including the introduction of the OX Mobile application, IDEAS and our new streaming platform, Xtend... In 2009 we saw retail investors reduce their trading activity following the turmoil of the financial crisis. However, as the year came to an end, we were encouraged by our customers' shift towards a more historical level of derivatives trading. And, while trading levels have not fully rebounded, we believe the double digit account and asset growth we generated in 2009, combined with our obsessive focus on providing the best investing experience for self-directed investors using derivatives, leaves us well positioned to benefit from a more stable trading environment in 2010 and eventual rising interest rates."
08:04
TSL Trina Solar announces sales agreement with ITEC in Germany (22.78 )
Co announces it has entered into an agreement with ITEC of Germany for a total of 40 MW of PV modules to be delivered during 2010. Under the terms of the agreement a total of 18 MW will be shipped during the first half of 2010, with agreed prices for the first quarter. Initial shipments commenced in January 2010.
08:03
ACXM Acxiom beats by $0.03, beats on revs (13.95 )
Reports Q3 (Dec) earnings of $0.18 per share, $0.03 better than the First Call consensus of $0.15; revenues fell 11.6% year/year to $283.8 mln vs the $276.9 mln consensus.
08:03
TRNS Transcat acquired United Scale and Engineering, a regional supplier and servicer of industrial scales and weighing systems; Terms of the transaction were not disclosed (6.75 )
08:03
LCC US Airways beats by $0.30, beats on revs (4.86 )
Reports Q4 (Dec) loss of $0.20 per share, $0.30 better than the First Call consensus of ($0.50); revenues fell 4.9% year/year to $2.63 bln vs the $2.59 bln consensus. "Our fourth quarter and full year results reflect the extremely difficult environment the industry experienced in 2009. Given that environment, we are particularly pleased with the significant improvement in financial performance versus 2008. The actions we have put in place to address the challenges of the past two years - capacity cuts, a la carte revenues, cost control and a commitment to efficient operating reliability - are working. We enter 2010 with encouraging momentum and well positioned to take advantage of the improving economic environment."
08:02
USAK USA Truck misses by $0.07, misses on revs (12.35 )
Reports Q4 (Dec) loss of $0.24 per share, $0.07 worse than the First Call consensus of ($0.17); revenues fell 8.4% year/year to $85.1 mln vs the $93.7 mln consensus. "Fuel prices per gallon were similar in the comparative quarters, but their trends were substantially different. Fuel prices were falling dramatically during 4Q08, but were climbing throughout 4Q09. As diesel fuel prices increase above an agreed-upon baseline price per gallon, we add a graduated surcharge to the rates we charge our customers. The surcharge is designed to approximately offset increases in fuel costs above the baseline. However, because our fuel surcharge recovery lags behind changes in actual diesel prices, we generally do not recover the increased cost we are paying for fuel when prices are rising (as in the most recent quarter). Conversely, we generally collect excess fuel surcharge revenue when prices are declining (as we did, at near-record levels, in the comparative quarter of 2008)..."
08:02
KTOS Kratos Defense and Security awarded three-year Modeling & Simulation Task valued at more than $9 Million (9.93 +0.11)
08:02
KSU KC Southern beats by $0.04, beats on revs (31.35 )
Reports Q4 (Dec) earnings of $0.33 per share, $0.04 better than the First Call consensus of $0.29; revenues fell 4.0% year/year to $406.8 mln vs the $397.2 mln consensus.
08:02
CRUS Cirrus Logic reports EPS in-line, revs in-line; guides Q4 revs above consensus (7.22 )
Reports Q3 (Dec) earnings of $0.19 per share, excluding non-recurring items, in-line with the First Call consensus of $0.19; revenues rose 48.9% year/year to $65.2 mln vs the $65 mln consensus; quarter. Gross margin for the quarter was 54 percent, down from 55 percent in the quarter a year ago and up sequentially from 52 percent for the previous quarter. . Co issues upside guidance for Q4, sees Q4 revs of $55-59 mln vs. $54.00 mln consensus; Gross margin is expected to be between 54 percent and 56 percent.
08:02
JNS Janus Capital beats by $0.01, beats on revs (13.18 )
Reports Q4 (Dec) earnings of $0.20 per share, $0.01 better than the First Call consensus of $0.19; revenues rose 41.5% year/year to $250.6 mln vs the $244.6 mln consensus. Average assets under management during the fourth quarter increased 8.5% to $155.2 bln compared with $143.1 bln during the third quarter 2009. At December 31, 2009, the company's total assets under management were $159.7 bln compared with $151.8 bln at September 30, 2009 and $123.5 bln at December 31, 2008. The increase in firmwide assets during the fourth quarter 2009 reflects $8.0 bln of net market appreciation and breakeven net flows. Janus and Perkins long-term net inflows totaled $1.5 bln and $0.9 bln, respectively, while INTECH long-term net outflows totaled $2.4 bln. The increase in year-over-year assets was primarily the result of $41.5 bln of net market appreciation.
08:01
CEPH Cephalon announced the promotion of three executives (65.43 )
Co announced the promotion of three executives, Kevin Buchi, Wilco Groenhuysen and Alain Aragues. Kevin Buchi is promoted to a new position as Chief Operating Officer. Wilco Groenhuysen is promoted to Executive Vice President & CFO. Alain Aragues is promoted to EVP & President of Cephalon Europe.
08:01
GNTX Gentex beats by $0.04, beats on revs; guides Q1 revs above consensus (17.45 )
Reports Q4 (Dec) earnings of $0.22 per share, $0.04 better than the First Call consensus of $0.18; revenues rose 45.2% year/year to $177.6 mln vs the $164 mln consensus. The gross profit margin increased on a QoQ basis from 28.4% in the fourth quarter of 2008 to 36.7% in the fourth quarter of 2009, primarily due to the co's ability to leverage fixed overhead costs due to the 45% QoQ increase in net sales. During the fourth quarter, the co did not repurchase any shares. "Based on CSM Worldwide's end-of-December light vehicle production forecast for the first quarter of 2010, we currently expect our net sales in 1Q10 to increase by 80-90% YoY vs the 69.6% consensus (we calculate this to be Q1 revs of $169-178 mln vs the $159 mln consensus). Light vehicle production volumes have significantly improved, and we are quite pleased with the prospects for the first quarter. However, the global automotive market is still a bit unstable and there continues to be uncertainty. CSM is currently forecasting relatively flat QoQ vehicle production for all four quarters of 2010 when North America, Europe and Japan and Korea are combined. We continue to believe that there will be some schedule adjustments as automakers work to balance their inventories with vehicle sales levels. As such, due to uncertainties, we do not plan to give full year 2010 guidance at this time. The co's current first quarter 2010 forecast is based on CSM's end-of-December forecast for light vehicle production of a 56 percent increase to 2.6 million units for North America; a 23 percent increase to 4.2 million units for Europe, and a 38 percent increase to 3.1 million units for Japan and Korea. CSM's current calendar year 2010 forecast for production in North America is a 24 percent increase to 10.6 million light vehicle units; a one percent decline to 16.2 million units for Europe, and a 12 percent increase to 12.2 million units for Japan and Korea, when compared with 2009. Based on the Company's expected net sales for the first quarter of 2010, Jen said that the co expects its gross profit margin for the first quarter of 2010 to be in the same range as 4Q09, consensus calls for -0.3% GM contraction in Q1.
07:50
FLWS 1-800-FLOWERS misses by $0.01, misses on revs, lowers FY10 outlook (2.19 )
Reports Q2 (Dec) earnings of $0.20 per share, excluding non-recurring items, $0.01 worse than the First Call consensus of $0.21; revenues fell 5.2% year/year to $238.5 mln vs the $247.2 mln consensus, reflecting reduced wholesale order volume in the mass market channel as well as soft demand in the consumer floral business. Gross profit margin for the quarter improved 180 basis points to 41.8 percent compared with 40.0 percent in the prior year period. This improvement resulted from product mix, pricing initiatives and manufacturing efficiencies. Previous guidance called for revenues from continuing operations to be flat to down approximately five percent, compared with the prior year, while EBITDA and EPS were expected to increase by 20 percent and 30 percent, respectively. The co now anticipates total revs for fiscal 2010 will be down approximately five-to-ten percent (we calculate this to be FY10 revs of $643-678 mln vs the $693.5 mln consensus) and EBITDA and EPS are expected to be flat FY09 EPS was $0.11 vs the $0.16 consensus), compared with the prior year. The Company has increased its guidance for Free Cash Flow -- including discontinued operations -- to more than $30 million, reflecting improved operations, effective inventory management and reduced capital expenditures.
07:43
CP Canadian Pacific beats by $0.11, reports revs in-line (51.02 )
Reports Q4 (Dec) earnings of $0.94 per share, which excluded foreign exchange gain and loss on long term debt, a charge on the terminatin of a shortline railway lease and two favourable income tax items, $0.11 better than the First Call consensus of $0.83; revenues fell 13.7% year/year to $1.12 bln vs the $1.13 bln consensus."We have come through an extraordinary year of economic challenges and we met these with focused productivity initiatives that have delivered sustainable improvements," said Fred Green, President and CEO. "Markets remain uncertain and we will continue to drive efficiency while delivering a reliable service. We are positioned with assets and resources to respond to changes in our customers' demand."
07:41
CHTT Chattem beats by $0.12, beats on revs (93.45 )
Reports Q4 (Nov) earnings of $1.18 per share, excluding non-recurring items, $0.12 better than the First Call consensus of $1.06; revenues rose 4.5% year/year to $110.2 mln vs the $109.1 mln consensus.
07:41
BMY Bristol-Myers beats by $0.06, reports revs in-line; guides FY10 EPS in-line (24.30 )
Reports Q4 (Dec) earnings of $0.47 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.41; revenues rose 10.8% year/year to $5.03 bln vs the $4.99 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.15-2.25, excluding non-recurring items, vs. $2.19 consensus. Key 2010 guidance assumptions include mid single-digit revenue growth (consensus calls for FY10 revs -2.4%); full-year gross margin consistent with last year 9consensus calss for Gm down 0.15% YoY); advertising and promotion decrease in the mid to high single-digit range; marketing, sales and administrative expense flat; research and development expense growth in the mid to high single-digit range; and an effective tax rate of between 23% and 24%. This guidance excludes any potential impact of U.S. healthcare reform. The co has previously provided guidance that it expected non-GAAP EPS to grow at a minimum of 15 percent compound annual growth rate from the 2007 base through 2010 without rebasing for the sale of the ConvaTec business. If the co meets its expected 2010 non-GAAP EPS from continuing operations guidance, it will exceed the prior 15 percent minimum three-year compound annual growth rate guidance.
07:40
IVZ Invesco misses by $0.03, reports revs in-line (21.69 )
Reports Q4 (Dec) earnings of $0.25 per share, $0.03 worse than the First Call consensus of $0.28; revenues rose 6.0% year/year to $747.8 mln vs the $745.6 mln consensus.
07:37
GR Goodrich misses by $0.08, reports revs in-line; guides FY10 EPS in-line, revs above consensus (62.23 )
Reports Q4 (Dec) earnings of $0.82 per share, $0.08 worse than the First Call consensus of $0.90; revenues fell 3.1% year/year to $1.64 bln vs the $1.65 bln consensus. Co said, "While the market environment for commercial aftermarket products and services remains challenging, we continue to believe that 2010 will be a year of modest recovery which should allow us to grow our commercial aftermarket sales. We continue to expect aftermarket sales to be weak for the first few months of 2010, with the recovery beginning towards the middle of the year. In our large commercial original equipment market channel, Boeing and Airbus delivered a record 979 new airplanes in 2009 and both manufacturers are striving to maintain stable production for their narrowbody airplanes through at least 2010." Co issues guidance for FY10, sees EPS of $4.15-4.40 vs. $4.41 consensus; sees FY10 revs of $7.1 bln vs. $6.96 bln consensus.
07:37
HSC Harsco beats by $0.06, reports revs in-line; guides Q1 EPS below consensus; guides FY10 EPS in-line (31.30 )
Reports Q4 (Dec) earnings of $0.50 per share, $0.06 better than the First Call consensus of $0.44; revenues fell 7.5% year/year to $772.5 mln vs the $774.7 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.05-0.10 vs. $0.24 consensus. Co issues in-line guidance for FY10, sees EPS of $2.00-2.10 vs. $2.07 consensus. "Due to the expected near-term difficulties of our Harsco Infrastructure business, we expect first quarter 2010 results to be well below those of the first quarter last year. Further, the previously discussed difficult operating conditions we face in our Harsco Infrastructure Segment as we enter 2010 will cause us to accelerate gross restructuring costs into the first quarter of the year. Thus, it is likely that these factors will result in a first quarter 2010 operating loss for the Harsco Infrastructure Segment."
07:36
KNSY Kensey Nash beats by $0.04, misses on revs; guides Q3 revs below consensus; reaffirms FY10 EPS above consensus, revs in-line (25.00 )
Reports Q2 (Dec) earnings of $0.43 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.39; revenues fell 8.2% year/year to $19.1 mln vs the $20.1 mln consensus. Co issues guidance for Q3, sees EPS of $0.43-0.45, may not be comparable to $0.46 consensus; sees Q3 revs of $19.5-20.2 mln vs. $20.98 mln consensus. Co reaffirms guidance for FY10, sees EPS of $1.81-1.85, excluding non-recurring items, vs. $1.74 consensus; sees FY10 revs of $79.0-81.0 mln vs. $81.88 mln consensus.
07:36
JBLU Jetblue Airways beats by $0.01, beats slightly on revs, comments on Q1, Y10 outlook (5.55 )
Reports Q4 (Dec) earnings of $0.04 per share, $0.01 better than the First Call consensus of $0.03; revenues rose 2.6% year/year to $832 mln vs the $827.9 mln consensus. Company comments on Q1, 2010 outlook, states, "For the first quarter of 2010, PRASM and RASM are expected to be in the range of down one to up two percent year over year. CASM is expected to increase between seven and nine percent over the year-ago period. Excluding fuel, CASM in the first quarter is expected to increase between six and eight percent year over year. PRASM and RASM for the full year are expected to increase between five and eight percent year over year. CASM for the full year is expected to increase between five and seven percent over full year 2009. Excluding fuel, CASM in 2010 is expected to increase between three and five percent year over year."
07:36
TROW T. Rowe Price beats by $0.02, reports revs in-line (52.63 )
Reports Q4 (Dec) earnings of $0.57 per share, $0.02 better than the First Call consensus of $0.55; revenues rose 30.5% year/year to $543 mln vs the $546.6 mln consensus. "The dramatic and broad-based market recovery last year provided welcome relief for investors who suffered devastating losses in 2008 and into early 2009. With this backdrop, and supported by our strong investment performance and success in attracting assets from new and existing clients, our financial results steadily improved from the depths of the downturn in the first quarter of 2009. Nevertheless, we remain mindful that most equity investors - while in better shape than a year ago - have yet to recover all of their losses, and that the last decade was the worst for U.S. equities since the 1930s... While our net revenues, net income, and earnings per share have rebounded, they remain lower than their 2008 levels and well below their highs in 2007. Our level of assets under management has recovered strongly and ended 2009 approaching the year-end 2007 peak of $400 billion; however, our average assets under management - from which we derive our investment advisory revenues - was well below the average assets under management in each of the prior two years. As such, we have remained very attentive to expense control, including earlier in 2009 when we made the difficult decision to implement a workforce reduction... U.S. and global economies have started on a path to recovery, and 2010 should be a year of modest growth in both the economies and the financial markets. The markets face wide-ranging risks, including residual fragility in the financial system, high unemployment, a stretched consumer, uncertainty surrounding taxes and regulation, and the Federal Reserve's exit strategy for reducing liquidity. Nevertheless, the backdrop for equities continues to gradually improve. Valuations remain reasonable, consumers and companies are working to repair their balance sheets, and investor and corporate confidence is improving. In this environment, we expect to see modest growth in corporate revenues and earnings as we move through 2010."
07:36
MMM 3M beats by $0.09, beats on revs; guides FY10 EPS in-line, revs in-line (82.30 )
Reports Q4 (Dec) earnings of $1.30 per share, $0.09 better than the First Call consensus of $1.21; revenues rose 11.1% year/year to $6.12 bln vs the $5.88 bln consensus. Co raises guidance for FY10, sees EPS of $4.90-5.10 up from $4.85-5.00 vs. $5.02 consensus; sees FY10 revs of $24.5-25.5 bln vs. $24.79 bln consensus. Co also sees organic sales volumes to grow 5 to 7% and currency effects to add 1 to 2% to sales for the year.
07:36
CELG Celgene reports EPS in-line, beats on revs; guides FY10 EPS below consensus, revs in-line (58.11 )
Reports Q4 (Dec) earnings of $0.62 per share, excluding non-recurring items, in-line with the First Call consensus of $0.62; revenues rose 21.1% year/year to $761 mln vs the $743.3 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.55-2.60, excluding non-recurring items, vs. $2.63 consensus; sees FY10 revs of $3.20-3.30 bln vs. $3.23 bln consensus. Revlimid $497.1 mln vs. $484.9 consensus; Vidaza $117 mln vs. $116.5 mln consensus; Thalomid $108 mln vs. $105. mln consensus. Co sees FY10 Revlimid sales of $2.1-2.2 bln vs the $2.15 bln consensus
07:34
T AT&T reports EPS in-line, revs in-line; adds 2.7 mln wireless subscribers (25.62 )
Reports Q4 (Dec) earnings of $0.51 per share, in-line with the First Call consensus of $0.51; revenues fell 0.7% year/year to $30.86 bln vs the $30.86 bln consensus. Co reports 2.7 mln fourth quarter net addition in total wireless subscribers, the second highest quarterly net gain in the company's history; full year wireless net adds totaled 7.3 mln, equaling the company's best ever annual total, to reach 85.1 mln subscribers in service Bestever fourth quarter wireless subscriber churn levels 1.19% postpaid and 1.44% total; 2.6 percent growth in post paid wireless subscriber ARPU (average monthly revenues per subscriber), eighth consecutive quarter with a year over year increase; Continued robust growth in revenues from wireless data services such as messaging, access to applications and related services; up $805 mln, or 26.3 percent, versus the yearearlier quarter to $3.9 bln 248,000 net gain in AT&T UverseSM TV subscribers to reach 2.1 mln in service, up more than 1 mln in 2009, with continued high broadband and voice attach rates.
07:33
OXY Occidental Petro beats by $0.05 (76.43 )
Reports Q4 (Dec) earnings of $1.30 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $1.25. For the fourth quarter of 2009, daily oil and gas sales volumes averaged 650,000 barrels of oil equivalent, compared with 620,000 BOE per day in the fourth quarter of 2008
07:33
LIFE Life Technologies beats by $0.08, beats on revs; guides FY10 EPS above consensus (48.69 )
Reports Q4 (Dec) earnings of $0.80 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.72; revenues rose 60.4% year/year to $874 mln vs the $842.6 mln consensus. Co issues upside guidance for FY10, sees EPS of $3.30-3.50 vs. $3.32 consensus. Organic revenues are expected to increase in the mid- to high-single digits (consensus calls for a rev increase of 8% in 2010). "Our results, on both the top and the bottom line, demonstrate the value we have been able to bring to our shareholders by combining the best of Invitrogen and Applied Biosystems to create a technological leader in the life sciences. Moving forward, we aim to leverage those strengths to further expand our position in areas such as sequencing, applied markets and clinical applications."
07:33
TDY Teledyne Tech beats by $0.14, beats on revs; guides Q1 EPS below consensus (39.81 )
Reports Q4 (Dec) earnings of $0.88 per share, $0.14 better than the First Call consensus of $0.74; revenues fell 2.2% year/year to $454.4 mln vs the $449.2 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.57-0.61 vs. $0.71 consensus. Co issues guidance for FY10, sees EPS of $2.80-2.90, may not be comparable to $3.13 consensus.
07:33
DCO Ducommun unit awarded IDIQ contract for the V-22 Osprey titanium longeron assemblies and awarded a contract for Plug-And-Play spacecraft technologies (17.96 )
Co's subsidiary has been awarded an indefinite delivery, indefinite quantity (IDIQ) contract for the V-22 Osprey titanium longeron assemblies. Co also announced today that its Miltec Corporation subsidiary has been awarded a contract for Plug-And-Play (PNP) spacecraft technologies from Air Force Research Laboratory (AFRL). The Miltec award is a five year indefinite delivery, indefinite quantity (IDIQ) contract with a ceiling of $200 million. Task One on the contract is an architecture study and demonstration phase to support the development of an Advanced PNP spacecraft architecture.
07:33
COL Rockwell Collins beats by $0.03, reports revs in-line; guides FY10 EPS in-line, revs in-line (53.64 )
Reports Q1 (Dec) earnings of $0.76 per share, $0.03 better than the First Call consensus of $0.73; revenues fell 2.9% year/year to $1.03 bln vs the $1.03 bln consensus. Co issues in-line guidance for FY10, sees EPS of $3.35-$3.55 vs. $3.46 consensus; sees FY10 revs of $4.6-$4.8 bln vs. $4.65 bln consensus. Co sees FY10 capex of about $135 mln. Co states, "Improvements in commercial aerospace conditions and general developments in the formulation of defense budgets world-wide reinforce my confidence that we should see sequential growth in sales and profitability throughout the year which will allow us to achieve our full year forecast."
07:32
On The Wires
Trimble (TRMB) announces that it has acquired the assets of privately-held Pondera Engineers based in Post Falls, Idaho. Pondera is an engineering and development company offering services and software tools for siting, designing, optimizing, and maintaining high-voltage power transmission and distribution lines. Financial terms were not disclosed... Vical (VICL) announces that the co has completed enrollment of the planned 375 subjects in its multinational Phase 3 trial of Allovectin-7 in patients with metastatic melanoma. Allovectin-7is a novel gene-based immunotherapeutic with a unique mechanism of action that is fundamentally different from currently approved treatments, and has the potential to be the first new primary treatment approved for metastatic melanoma in nearly 20 years... CONSOL Energy (CNX) announces that it has concluded the sale of five more vessels of high-vol coking coal from its Bailey and Blacksville mines in Northern Appalachia destined for Asia. The sales were made by Xcoal, and are the result of the Asian Marketing Initiative announced last month by CONSOL. The sales for these 5 vessels total approximately 410,000 short tons. The cargoes are destined for integrated steel mills located in the Hebei and Shangdong provinces of China... Wal-Mart Stores (WMT) announces a number of related events that position the company to leverage its global scale to reduce costs of goods, accelerate speed to market, and improve the quality of products. Walmart's new global sourcing strategy involves the creation of Global Merchandising Centers, a change in leadership and structure, and a strategic alliance with Li & Fung, a global sourcing organization... ZOLL Medical (ZOLL) announces that HealthTrust Purchasing Group, a healthcare group purchasing organization, has entered into a purchasing agreement with ZOLL for its therapeutic temperature management equipment. Under the terms of the agreement, HealthTrust members will be able to purchase ZOLL's intravascular temperature management system, which includes the Thermogard XP temperature management console and a family of cooling/warming catheters with triple lumen central venous capability... Cascade Microtech (CSCD) and SUSS MicroTec AG enter into a strategic partnership to address the growing device complexities of emerging semiconductor technologies such as 3D TSV manufacturing and test... Hertz (HTZ) announces that it will temporarily stop renting vehicles named in Toyota's (TM) voluntary recall... Autoliv (ALV) announces that it has agreed to acquire substantially all of Delphi's Occupant Protection Systems (OPS) operations in Korea and China. These operations are expected to generate approximately US$250 million of annualized sales in 2010.... TeleTech (TTEC) announces that Direct Alliance, its wholly-owned subsidary, has been chosen by a leading global technology company to to design, implement and manage a multi-million dollar revenue generation solution targeting small and medium businesses in the United States... Flagstar Bancorp (FBC) announces that it has raised $300 million of capital through a previously announced rights offering, which closes on February 8, 2010.
07:31
ETRM EnteroMedics intends to submit an Investigational Device Exemption application (0.59 +0.01)
Co announced today that, following a recent meeting with the U.S. Food and Drug Administration (FDA) to discuss the Company's EMPOWER study results and the regulatory process, the Company intends to submit an Investigational Device Exemption (IDE) application for a clinical trial to support a possible Premarket Approval (PMA) application for the next-generation Maestro RC System in the treatment of morbid obesity.
07:31
CCRT CompuCredit commenced a "Modified Dutch Auction" cash tender offer (3.24 )
Co announced that it has commenced a "Modified Dutch Auction" cash tender offer for up to $160.0 million aggregate principal amount of its outstanding 3.625% Convertible Senior Notes due 2025 and its outstanding 5.875% Convertible Senior Notes due 2035. The tender offer consists of two separate offers, with one offer to purchase up to $160.0 million aggregate principal amount of the 2025 Notes and a second offer to purchase the 2035 Notes in an aggregate principal amount up to the amount of the Tender Cap remaining (if any) for the purchase of the 2035 Notes following the purchase of the 2025 Notes. The Company expects to fund the purchase of the Notes tendered in the Tender Offer with available cash on hand.
07:28
ETH Ethan Allen misses by $0.04, misses on revs (14.90 )
Reports Q2 (Dec) loss of $0.06 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of ($0.02); revenues fell 24.4% year/year to $143.3 mln vs the $149 mln consensus. Comparable Ethan Allen design center net delivered sales were 25.3% lower than the prior year quarter while comparable written orders were 6.1% lower. The Company's Retail backlog has increased 34% and the Wholesale backlog is up 54% from the prior year second quarter. "The consolidation and restructuring initiatives did result in lower delivered sales in the December quarter while increasing our backlogs. Our plants, retail and logistics have absorbed most of the operational changes and transition costs during the last six months. This includes the training of 274 new upholstery associates and the conversion of our case goods products to custom. We expect to significantly lower these costs in the third and fourth quarters of this fiscal year."
07:24
CTC IFM Investments (Century 21 China) prices 12.49 mln ADR IPO at $7.00 per share
Co was originally expected to price 16.65 mln ADRs in a range of $8.75-10.75.
07:22
LLL L-3 Comms beats by $0.07, beats on revs; guides FY10 EPS in-line, revs in-line
Reports Q4 (Dec) earnings of $1.93 per share, $0.07 better than the First Call consensus of $1.86; revenues rose 4.9% year/year to $4.21 bln vs the $4.11 bln consensus. Co issues in-line guidance for FY10, sees EPS of 8.00-8.20 vs. $8.02 consensus; sees FY10 revs of 15.8-16.0 bln vs. $15.88 bln consensus. Michael T. Strianese, chairman, president and chief executive officer stated that, "Our full-year results were underscored by a solid fourth quarter, where we generated record sales and strong operating results, cash flow and EPS. The strength of L-3's ISR businesses continued to be a key driver of our growth, more than offsetting the challenging environment experienced by our government services and commercial businesses."
07:18
SVA Sinovac Biotech prices 10.0 mln common shares at $5.75/share (6.11 )
This reflects an increase in the size of the offering from the previously announced offering of 8.65 mln common shares.
07:18
BPSG Broadpoint Gleacher Securities reports EPS in-line, misses on revs (4.07 )
Reports Q4 (Dec) earnings of $0.08 per share, in-line with the First Call consensus of $0.08; revenues rose 60.5% year/year to $81.2 mln vs the $92.9 mln consensus. "We are very pleased with the progress across all of our businesses during 2009, building upon the platform we established in 2008. We have much work to do however to continue to build-out our firm and diversify our earnings stream. While the fourth quarter reflected a slowdown in fixed income, we fared somewhat better than many of our competitors, and we continued our progress in growing investment banking... Our progress in developing our investment banking business over the past seven months since Gleacher Partners became a part of Broadpoint has gone well. Our restructuring business continues producing strong results and our M&A and capital markets backlogs have grown meaningfully. Our goal is that our results in 2010 will reveal a balanced set of completed transactions in all three areas, demonstrating solid progress and growth in investment banking."
07:17
CXG CNX Gas misses by $0.02, beats on revs (28.27 )
Reports Q4 (Dec) earnings of $0.27 per share, $0.02 worse than the First Call consensus of $0.29; revenues fell 13.7% year/year to $177.8 mln vs the $175.1 mln consensus. Production was 25.1 billion cubic feet (Bcf), or 273 million cubic feet (MMcf) per day, for the quarter ended December 31, 2009. This was the third consecutive quarterly production record, and 13% higher than the 22.2 Bcf, or 242 MMcf per day, for the year-ago quarter. "CNX Gas ended 2009 on a very strong footing. Once again, we set another quarterly production record, and our employees continued working safely, having passed the 4-million hour mark without incurring a lost-time incident. With our increasing Virginia coalbed methane production and our continued Marcellus Shale success, we expect 2010 production of 100 Bcf. To support this goal, we have contracted for a second horizontal rig to begin drilling in the Marcellus Shale on March 1. CNX Gas increased production by 23% in 2009 while paying down about $15 million of debt. And as we reported earlier this week, we also increased our proved reserves in 2009 by one-half trillion cubic feet (Tcf), or 34%, to 1.9 Tcf."
07:16
CNX CONSOL Energy beats by $0.04, beats on revs (50.03 )
Reports Q4 (Dec) earnings of $0.78 per share, $0.04 better than the First Call consensus of $0.74; revenues fell 0.4% year/year to $1.24 bln vs the $1.17 bln consensus. Co said, "2010 is looking better than I thought possible three months ago, due to increased economic activity and much colder-than-normal weather. CONSOL Energy has major advantages with its low cost position and low level of debt. With its superior portfolio of Appalachian high-Btu thermal coal, both low-vol and high-vol coking coal, and natural gas, I continue to believe that CONSOL Energy will outperform its peers in 2010."
07:15
ZMH Zimmer Hldgs beats by $0.04, reports revs in-line; guides FY10 EPS in-line (59.88 )
Reports Q4 (Dec) earnings of $1.12 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $1.08; revenues rose 7.5% year/year to $1.11 bln vs the $1.11 bln consensus. Co issues in-line guidance for FY10, sees EPS of $4.15-4.35, excluding non-recurring items, vs. $4.28 consensus, with FY10 rev growth of 4-6% (3-5% on a constant currency basis) -- we calculate this to be revs of $4.26-4.34 bln vs the $4.37 bln consensus.
07:14
CLP Colonial Properties beats by $0.01, beats on revs; guides FY10 FFO in-line (11.10 )
Reports Q4 (Dec) funds from operations of $0.25 per share, $0.01 better than the First Call consensus of $0.24; revenues rose 1.6% year/year to $86.5 mln vs the $77.1 mln consensus. Co issues in-line guidance for FY10, sees FFO of $0.92-0.97 vs. $0.93 consensus.
07:13
NTY NBTY Inc beats by $0.24, beats on revs (43.23 )
Reports Q1 (Dec) earnings of $1.18 per share, $0.24 better than the First Call consensus of $0.94; revenues rose 13.7% year/year to $751.2 mln vs the $731.7 mln consensus.
07:12
DGW Duoyuan Global Water prices a 3.545 mln share ADS offering at $29.50/ADS (29.74 )
07:11
CAH Cardinal Health beats by $0.11, reports revs in-line; guides FY10 EPS above consensus (31.31 )
Reports Q2 (Dec) earnings of $0.57 per share, $0.11 better than the First Call consensus of $0.46; revenues rose 3.3% year/year to $24.92 bln vs the $24.77 bln consensus. Co issues upside guidance for FY10, sees EPS of $2.08-2.18 vs. $2.03 consensus. "Based on our year-to-date performance and our best assessment of our current environment, our outlook for the full year has improved considerably since we last reported. Although our journey is in its early stages, we are pleased with our rate of progress."
07:11
CL Colgate-Palmolive beats by $0.03, reports revs in-line (80.39 )
Reports Q4 (Dec) earnings of $1.21 per share, $0.03 better than the First Call consensus of $1.18; revenues rose 11.4% year/year to $4.08 bln vs the $4.08 bln consensus. Gross profit margin increased to 59.5% in fourth quarter 2009 from 56.0% in the year ago period. Excluding restructuring charges in 2008, gross profit margin increased 320 basis points to 59.5% in fourth quarter 2009 from 56.3% in fourth quarter 2008, primarily reflecting the benefits of increased pricing and cost-savings programs.
07:10
WCC Wesco beats by $0.01, beats on revs (28.50 )
Reports Q4 (Dec) earnings of $0.51 per share, $0.01 better than the First Call consensus of $0.50; revenues fell 20.8% year/year to $1.13 bln vs the $1.09 bln consensus.
07:10
MKC McCormick reports EPS in-line, misses on revs; guides FY10 EPS in-line (37.54 )
Reports Q4 (Nov) earnings of $0.91 per share, in-line with the First Call consensus of $0.91; revenues rose 1.9% year/year to $924.5 mln vs the $952.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.49-$2.54 vs. $2.52 consensus. The Company plans to drive sales with a $20 million increase in brand marketing support from $147 million in 2009 and $127 million in 2008. These funds will support new products across global markets as well as consumer favorites such as grilling products, seasoning mixes and ethnic food items. Sales are projected to grow 4-6%, including an estimated 2% benefit based on current foreign currency exchange rates. The Company plans to fund higher marketing with CCI-driven cost savings. Savings of $35 to $40 million are expected and projects are already underway to achieve this target. Due in large part to the anticipated cost reductions, gross profit margin is expected to increase by half a percentage point. These projected CCI savings will also help offset an expected 2010 increase in pension expense of approximately $15 million, due largely to a change in the prevailing discount rates used to calculate this expense.
07:09
ISCA Intl Speedway beats by $0.04, misses on revs (29.32 )
Reports Q4 (Nov) earnings of $0.63 per share, ex-items, $0.04 better than the First Call consensus of $0.59; revenues fell 1.7% year/year to $201.8 mln vs the $207.7 mln consensus. Co states, "We are optimistic that the economic recovery underway will continue to strengthen and we will begin to see positive changes in consumer and corporate spending. Benefiting our Company is the fact that we remain in excellent financial shape highlighted by significant contracted revenue from media income and a solid balance sheet."
07:09
ODFL Old Dominion beats by $0.03, reports revs in-line (27.24 )
Reports Q4 (Dec) earnings of $0.26 per share, $0.03 better than the First Call consensus of $0.23; revenues fell 7.4% year/year to $310.9 mln vs the $310 mln consensus.
07:09
BAX Baxter reports EPS in-line, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS in-line (58.91 )
Reports Q4 (Dec) earnings of $1.03 per share, in-line with the First Call consensus of $1.03; revenues rose 10.8% year/year to $3.47 bln vs the $3.39 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.92-0.94 vs. $0.95 consensus. Co issues in-line guidance for FY10, sees EPS of $4.20-4.28 vs. $4.28 consensus. For the first quarter of 2010, Baxter expects sales growth, excluding the impact of foreign exchange, of approximately 5 to 7 percent. Including the benefit of foreign exchange, the company expects reported sales growth of approximately 10 to 12 percent compared to the first quarter of 2009, based on current exchange rates.
07:08
UA Under Armour beats by $0.05, beats on revs; raises FY10 guidance (27.91 )
Reports Q4 (Dec) earnings of $0.30 per share, $0.05 better than the First Call consensus of $0.25; revenues rose 23.9% year/year to $222.2 mln vs the $200.6 mln consensus. Co raises guidance for FY10, sees FY10 revs of $945-960 mln vs. $915.81 mln consensus, growth of 10-12%, vs growth in the high single to low-double digits previously, with FY10 EPS up 10-12%, vs growth in the high single to low-double digits previously (we calculate this to be EPS of $1.01-1.03 vs $1.00 consensus). Fourth quarter apparel net revenues increased 26.0% to $192.1 million compared with $152.4 million in the same period of the prior year, driven by growth in Men's, Women's, and Youth apparel. Footwear net revenues were $8.7 million in the fourth quarter of 2009 compared with $9.2 million in the same period of the prior year. Direct-to-Consumer net revenues grew 52.9% year-over-year during the fourth quarter. Gross margin for the fourth quarter of 2009 increased to 51.4% compared with 50.7% in the prior year's quarter primarily due to the increased higher margin sales in Direct-to-Consumer.
07:08
RTN Raytheon beats by $0.07, reports revs in-line; reaffirms FY10 EPS below consensus, reaffirms revs in-line (53.46 )
Reports Q4 (Dec) earnings of $1.30 per share, $0.07 better than the First Call consensus of $1.23; revenues rose 9.5% year/year to $6.67 bln vs the $6.64 bln consensus. Co reaffirms guidance for FY10, sees EPS of $4.75-4.90, excluding non-recurring items, vs. $4.99 consensus; reaffirms FY10 revs of $25.9-26.4 bln vs. $26.2 bln consensus.
07:08
LB LaBarge misses by $0.02, beats on revs (11.14 )
Reports Q2 (Dec) earnings of $0.18 per share, $0.02 worse than the First Call consensus of $0.20; revenues rose 1.2% year/year to $69 mln vs the $67.4 mln consensus.
07:07
CEVA Ceva beats by $0.01, beats on revs (11.73 )
Reports Q4 (Dec) earnings of $0.11 per share, $0.01 better than the First Call consensus of $0.10; revenues rose 2.0% year/year to $10.2 mln vs the $10 mln consensus.
07:07
MNRO Monro Muffler beats by $0.03, beats on revs; guides Q4 EPS above consensus (32.42 )
Reports Q3 (Dec) earnings of $0.38 per share, $0.03 better than the First Call consensus of $0.35; revenues rose 28.6% year/year to $152.7 mln vs the $149.4 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.20-0.23 vs. $0.19 consensus. "We have continued to execute well against our business strategy and remain optimistic as we head into the fourth quarter. Our January comparable store sales increased approximately 9%, on top of a very strong 14.6% last January. We are extremely pleased with the performance of our recent acquisitions, which also provide us with an opportunity to convert 53 service stores in New England to our Black Gold format over the next three months. Additionally, we would hope to close acquisition deals by the end of this quarter that would add approximately $20 million in annual sales. As we look to the fourth quarter, we continue to view the current trends in our industry, our business and acquisition opportunities favorably, and are excited about what fiscal year 2011 will bring."
07:07
EQT EQT Corp. beats by $0.13, beats on revs (42.87 )
Reports Q4 (Dec) earnings of $0.52 per share, excluding items, $0.13 better than the First Call consensus of $0.39; revenues rose 19.7% year/year to $281.8 mln vs the $242.5 mln consensus. The company's sales of produced natural gas and oil are approximately 36% hedged for 2010. There were no changes to the company's production hedge position in the quarter. EQT's capital expenditure plan is $850 million in 2010, which includes $565 million for well development, $245 million for midstream projects, including the first phase of the Equitrans expansion project, and $40 million for distribution infrastructure projects and other corporate items.
07:05
WDR Waddell & Reed beats by $0.01, beats on revs (31.96 )
Reports Q4 (Dec) earnings of $0.39 per share, $0.01 better than the First Call consensus of $0.38; revenues rose 28.2% year/year to $244.8 mln vs the $236.9 mln consensus. Hank Herrmann, Chief Executive Officer of Waddell & Reed Financial, states that, "Despite the many challenges of 2009, our business model proved its resilience" he continues that "Our sales volume recovered rapidly, redemption levels are well below our peers, our asset recovery was among the best in the industry and by year-end had returned to its all time high of $70 billion reached in June 2008."
07:05
ZOLL ZOLL Medical reports EPS in-line, beats on revs (27.39 )
Reports Q1 (Dec) earnings of $0.11 per share, in-line with the First Call consensus of $0.11; revenues rose 17.6% year/year to $105.2 mln vs the $99.3 mln consensus. Co said, "Overall, North American Hospital sales were a small step in the right direction, and the LifeVest and Temperature Management are continuing to gain momentum, and perform impressively. Moving through the year, we expect to increase our level of profitability as we gain leverage in these high growth businesses. We believe we are on track for the year and our outlook for 2010 is unchanged."
07:04
XEL Xcel Energy beats by $0.01, misses on revs; reaffirms FY10 EPS guidance (20.94 )
Reports Q4 (Dec) earnings of $0.37 per share, $0.01 better than the First Call consensus of $0.36; revenues fell 3.4% year/year to $2.62 bln vs the $3.5 bln consensus. Co reaffirms guidance for FY10, sees EPS of $1.55-1.65 vs. $1.63 consensus. Co says guidance assumes normal weather patterns experienced for the year. Weather-adjusted retail electric utility sales growth of approx 1%. Weather-adjusted retail firm natural gas sales decline approx 1% to 2%. Reflects increased revenue due to the full year impact of 2009 electric rate cases in Colorado, Texas and New Mexico, along with the 2010 electric rate increase in Colorado. Constructive outcomes in the Minnesota natural gas rate case and PSCo wholesale electric rate case. Increased rider revenue recovery of approx $30 mln. O&M expenses are projected to increase $115 mln to $135 mln, or 6 percent to 7 percent. Depreciation expense is projected to increase by $40 to $50 mln. Interest expense is projected to increase approx $15 mln to $25 mln. AFUDC-equity is projected to decrease $25 to $30 mln. The effective tax rate for continuing operations is approx 34% to 36%. Average common stock and equivalents total approximately 460 million shares.
07:03
TGA Transglobe Energy announced its 2009 year-end reserves (3.59 +0.04)
Co announced its 2009 year-end reserves. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's total proved reserves increased 53 percent from 12.6 million barrels of oil ("MMbbl") at December 31, 2008 to 19.2 MMbbl at December 31, 2009. This increase in proved reserves represents a production replacement in 2009 of 303 percent. Total 2P reserves grew 22 percent from 19.8 MMbbl at December 31, 2008 to 24.2 MMbbl at December 31, 2009. The increase in 2P reserves represents a production replacement in 2009 of 234 percent. Total 3P reserves grew 9 percent from 28.0 MMbbl at December 31, 2008 to 30.5 MMbbl at December 31, 2009. The increase in 3P reserves represents a production replacement in 2009 of 176 percent.
07:02
EQT EQT Corp. announces year-end 2009 proved reserves increased 31% to of 4.1 tcfe; 26.0 Tcfe of resource potential (42.87 )
07:01
FSNM First State Banc appoints Garrey E. Carruthers as Chairman (0.60 -0.04)
Co announced that the appointments by the board of directors of Garrey E. Carruthers as Chairman of the Board and H. Patrick Dee as President and Chief Executive Officer have been confirmed by the Federal Reserve Bank of Kansas City. Mr. Dee will also be assuming the position of Chairman of the Board and Chief Executive Officer of First Community Bank, the Company's subsidiary. In addition to serving as Chief Executive Officer of the bank, Mr. Dee will continue to serve as President.
07:00
ACM Aecom Tech Joint venture awarded a $164-million contract to manage the widening of New Jersey Turnpike (27.98 )
06:59
AEP American Electric beats by $0.04, misses on revs; reaffirms FY10 EPS guidance (35.53 )
Reports Q4 (Dec) earnings of $0.50 per share, $0.04 better than the First Call consensus of $0.46; revenues rose 3.1% year/year to $3.3 bln vs the $3.54 bln consensus. Co reaffirms guidance for FY10, sees EPS of $2.80-3.20 vs. $3.06 consensus.
06:58
CMCO Columbus McKinnon misses by $0.05, beats on revs (15.09 )
Reports Q3 (Dec) earnings of $0.06 per share, excluding restructuring charges, $0.05 worse than the First Call consensus of $0.11; revenues fell 27.9% year/year to $119 mln vs the $116.9 mln consensus. Co says backlog was $71.6 mln at the end of the third quarter of fiscal 2010, above backlog of $69.7 mln at the end of the second quarter but below backlog at the end of last year's third quarter of $79.1 mln. The time to convert the majority of backlog to sales averages from one day to a few weeks, and backlog normally represents four to five weeks of shipments. "The sequential improvement in orders, primarily driven by our European operations, has bolstered our confidence that we are through the worst of the downturn and, although we would not expect an extremely robust economy to follow, any improvement from the historic low in industrial capacity utilization will continue to be beneficial to the Company."
06:58
S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: -8.50.
06:58
Asian Markets
Nikkei...10414.29...+162.20...+1.60%. Hang Seng...20356.37...+323.30...+1.60%.
06:58
European Markets
FTSE...5226.60...+9.20...+0.20%. DAX...5657.27...+14.30...+0.30%.
06:48
EL Estee Lauder beats by $0.07, reports revs in-line; guides Q3 EPS in-line; guides FY10 EPS in-line (53.64 )
Reports Q2 (Dec) earnings of $1.28 per share, $0.07 better than the First Call consensus of $1.21; revenues rose 10.8% year/year to $2.26 bln vs the $2.24 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.20-0.30, excluding non-recurring items, vs. $0.28 consensus. Co issues in-line guidance for FY10, sees EPS of $2.55-2.73, excluding non-recurring items, vs. $2.59 consensus.
06:44
TRCR Transcend Services, Inc. reports EPS in-line, beats on revs (21.00 )
Reports Q4 (Dec) earnings of $0.22 per share, excluding non-recurring items, in-line with the First Call consensus of $0.22; revenues rose 67.2% year/year to $21.4 mln vs the $21 mln consensus. Gross profit increased 53% to $7,289,000, or 34% of revenue, for the fourth quarter of 2009 compared to $4,769,000, or 37% of revenue, for the fourth quarter of 2008. Excluding the impact of the August 31, 2009 acquisition of Medical Dictation Services, gross profit was 36% of revenue for the fourth quarter of 2009. We expect to complete the TRS conversions during the first quarter of 2010 and the MDSI conversions by the end of 2010. In the meantime, we are evaluating opportunities for additional acquisitions in the future."
06:40
WRLD World Acceptance beats by $0.23, beats on revs
Reports Q3 (Dec) earnings of $0.89 per share, $0.23 better than the First Call consensus of $0.66; revenues rose 13.2% year/year to $112.3 mln vs the $108.7 mln consensus. Co states, "We experienced a reduction in net charge-off ratios in each of the last three quarters and a steady improvement in our loss ratios during the current year," noted Sandy McLean, Chairman and CEO. "Although these are positive trends, they remain above our historical levels for these credit metrics. The 180 basis points decrease in the third quarter's net charge-off ratio was at least 100 basis points greater than the previous two quarterly reductions. Additionally, our net charge-offs as a percent of average net loans for the first nine months of the current fiscal year loss ratio was approximately 110 basis points greater when compared with the average ratio for the corresponding three quarters of fiscal 2005 through 2008. Based on the continued softness in the economy, we cannot predict when or if we will return to more historical loan loss ratios, yet believe that our current reserves are adequate at current loss levels."
06:38
LMT Lockheed Martin beats by $0.18, reports revs in-line; raises FY10 EPS guidance, reaffirms FY10 revs guidance (77.13 )
Reports Q4 (Dec) earnings of $2.17 per share, $0.18 better than the First Call consensus of $1.99; revenues rose 12.5% year/year to $12.52 bln vs the $12.47 bln consensus. Co issues guidance for FY10, raises FY10 EPS to $7.15-7.35 vs. the $7.41 consensus, up from $7.05-7.25 previously; reaffirms FY10 revs of $46.25-47.25 vs. $46.92 bln consensus. FY10 EPS revisions come from a net decrease in the projected FAS pension expense, an increase in interest expense as a result of issuing $1.5 billion in new debt during the fourth quarter of 2009 and the benefit of a reduction in projected weighted average shares outstanding as a result of both share repurchase activity during the fourth quarter and additional projected share repurchase activity during 2010.
06:35
LLY Eli Lilly misses by $0.01, beats on revs; reaffirms FY10 EPS guidance (36.39 )
Reports Q4 (Dec) earnings of $0.91 per share, $0.01 worse than the First Call consensus of $0.92; revenues rose 12.8% year/year to $5.93 bln vs the $5.68 bln consensus. Co reaffirms guidance for FY10, sees EPS of $4.65-4.85 vs. $4.73 consensus. Gross margin as a percent of total revenue decreased by 6.6 percentage points, to 75.9%. Cost of sales increased by 57% in the fourth quarter of 2009 compared to the fourth quarter of 2008. The decrease in gross margin was due to the impact of changes in foreign currencies compared to the U.S. dollar on international inventories sold during the quarter, which substantially increased cost of sales in the fourth quarter of 2009, but substantially decreased cost of sales in the fourth quarter of 2008.
06:33
RGEN Repligen announces long term supply agreement with GE Healthcare for Recombinant Protein A (3.54 )
Co announces that it has extended its longstanding relationship with GE Healthcare Bio-Sciences AB by entering into a five-year supply agreement for recombinant Protein A, a consumable used in the manufacture of monoclonal antibodies, a highly successful class of biopharmaceutical. his agreement provides for Repligen to continue to be a strategic supplier to GE Healthcare through 2014. GE Healthcare sells chromatography products which incorporate Repligen's recombinant Protein A to the biopharmaceutical industry for the manufacture of monoclonal antibodies.
06:30
ASYS Amtech Systems announces $19 mln in new solar orders; Total solar orders in FY10 surpass $70 mln (10.24 )
Co announces that its solar subsidiary, Tempress Systems, Inc., has received approximately $19 mln in solar orders for its diffusion processing systems from several new and existing customers in Asia. The orders are expected to ship in the second half of calendar 2010. Amtech's total solar orders to date in fiscal 2010, including these most recent orders, have surpassed $70 mln.
06:21
BDX Becton Dickinson beats by $0.10, beats on revs; raises FY10 guidance (76.00 )
Reports Q1 (Dec) earnings of $1.30 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $1.20; revenues rose 11.6% year/year to $1.92 bln vs the $1.83 bln consensus. Co raises guidance for FY10, sees EPS of $5.05-5.15, excluding non-recurring items, vs. $5.09 consensus, an increase of 2-4% YoY, vs previous guidance of EPS growth of 1-3%. Co also raises rev guidance, sees FY10 rev growth of 7% YoY, vs prior guidance of 6% growth (we calculate this to be FY10 revs of $7.65 bln vs the $7.59 bln consensus). "We are pleased with our solid start to fiscal 2010. Our BD Medical and BD Diagnostics segments led our revenue growth, aided by flu-related sales. Our revenue growth, good operating performance and a stabilizing Biosciences business this quarter give us the confidence to raise guidance for fiscal 2010."
06:19
CBC Capitol Bancorp reports 4Q results (3.18 )
Capitol Bancorp reports 4Q earnings of ($2.88) vs ($1.10) First Call consensus; revs decreased 1% year/year $44.6 mln vs $44.20 mln First Call consensus. Capitol's Chairman and CEO Joseph D. Reid said, "To mitigate the economic challenges that Capitol continues to face, we have implemented a strategy to deleverage the consolidated balance sheet and preserve core capital through regional consolidations and selective bank divestitures. These transactions support our objective to redeploy capital and resources to those markets currently facing challenges. We remain focused on enhancing balance sheet strength, improving corporate-wide liquidity and strengthening core capital ratios."
06:17
PII Polaris Inds beats by $0.08, beats on revs; guides Q1 EPS; guides FY09 revs above consensus; guides FY10 EPS in-line (43.30 )
Reports Q4 (Dec) earnings of $1.31 per share, $0.08 better than the First Call consensus of $1.23; revenues fell 9.9% year/year to $471.8 mln vs the $449.7 mln consensus. Co issues guidance for Q1, sees EPS of $0.45-0.47 vs. $0.45 consensus. Co issues upside rev guidance for FY09, sees FY09 revs of $1.58-1.6 bln vs. $1.54 bln consensus. Co issues in-line guidance for FY10, sees EPS of 3.15-3.30 vs. $3.22 consensus.
06:15
BLL Ball Corp beats by $0.13, reports revs in-line (50.45 )
Reports Q4 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.71; revenues rose 7.6% year/year to $1.86 bln vs the $1.85 bln consensus. "Volume momentum improved sequentially in the fourth quarter in our metal beverage and metal food and household products businesses due largely to increased customer promotional activity, and the four U.S. metal beverage packaging plants acquired in October were accretive to earnings in the quarter. While prior year inventory gains make beating last year's first quarter earnings difficult, we expect full-year 2010 earnings to be above those of 2009 (FY10 consensus is at $4.39 vs FY09 EPS of $4.08)... In 2009, Ball generated $373 million in free cash flow after an incremental pension contribution of $14 million. The co expects 2010 free cash flow of more than half a billion dollars after capital spending of approximately $235 million."
06:13
RRC Range Resources proved reserves increase 18% (47.35 )
Co announces that its proved reserves at December 31, 2009 increased 18% to 3.1 Tcfe. From all sources, Range replaced 486% of production in 2009 with all the reserve replacement occurring through the drill bit and positive performance revisions. Finding and development costs from all sources, including leasehold additions and all price and performance revisions, averaged $0.98 per mcfe. Excluding price revisions, finding and development costs averaged $0.89 per mcfe. Drill bit development costs averaged $0.68 per mcfe. For 2009, Range added 770 Bcfe of proved reserves through the drill bit. No reserves were added through acquisitions. Performance revisions added 90 Bcfe, while price revisions reduced proved reserves by 86 Bcfe. During 2009, Range sold properties containing 140 Bcfe of proved reserves and production was 159 Bcfe. As a result, year-end 2009 reserves totaled 3.1 Tcfe; up 18% from the 2.7 Tcfe at year-end 2008. For year-end 2009, new SEC rules were implemented requiring that the reserve calculations be based on the average prices throughout the year, versus the previous method which required year-end prices. The benchmark cash prices under the new method were $3.87 per Mmbtu for natural gas and $60.85 per barrel for crude oil, representing the simple average of the prices for the first day for each month of 2009. Based on these prices adjusted for energy content, quality and basis differentials ($3.19 per Mmbtu and $54.65 per barrel, respectively), the pre-tax discounted (10%) present value of the year-end 2009 reserves was $2.6 bln. Using the previous SEC pricing method (year-end benchmark prices of $5.79 per Mmbtu and $79.36 per barrel with similar adjustments) proved reserves would have been 3.2 Tcfe and the pre-tax discounted present value would have been $5.1 bln. Using the 10-year futures strip prices at December 31, 2009 (averaging $6.91 per Mmbtu and $92.36 per barrel with similar adjustments), reserves would have been 3.3 Tcfe with a pre-tax discounted present value of $6.6 bln.
06:12
POT Potash beats by $0.02, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS below consensus (109.52 )
Reports Q4 (Dec) earnings of $0.80 per share, $0.02 better than the First Call consensus of $0.78; revenues fell 41.3% year/year to $1.1 bln vs the $1.07 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.70-1.00 vs. $1.10 consensus. Co issues downside guidance for FY10, sees EPS of $4.00-5.00 vs. $5.89 consensus. Fourth-quarter sales of 1.1 mln tonnes represented more than one-third of our 2009 total of 3.0 mln tonnes. This was 23 percent lower on a quarter-over-quarter basis, but reflected an improvement over the 65 percent decline experienced for the full year. We shipped 0.5 mln tonnes to North American customers, a 30 percent increase over the same period last year, and 0.6 mln tonnes to offshore markets, which was 42 percent below fourth-quarter 2008 levels. We expect global shipments will be approximately 50 mln tonnes in 2010, marking the transition between the historically low levels of 2009 and a return to higher demand in 2011. This will be a significant improvement from 2009 levels but will not address the multi-year process of refilling distributor inventories and soil nutrient levels. Weaker crop margins or delayed buyer engagement could result in potash shipments below the forecast for this year, while stronger crop economics or significant engagement of key markets could raise demand above this level. Supportive crop prices, improved potash price clarity and an empty supply chain are prompting buyers to begin positioning product in advance of key growing seasons. We expect India to resume potash imports under a new contract in the first half of 2010 and import about 5.5-6.0 mln tonnes. In Brazil, where soils are naturally deficient in potassium, the combination of strong crop economics and improved access to credit is expected to push 2010 imports up to 5.5-6.5 mln tonnes. Southeast Asian markets are forecast to import 4.0-5.0 mln tonnes. We expect China to consume about 8.0-9.0 mln tonnes of potash (KCl), including 4.5-5.0 mln tonnes of imports. Depending on the extent of farmer engagement in China, buyers there could pursue additional volumes later in 2010.
06:11
CCMP Cabot Micro beats by $0.15, beats on revs (32.43 )
Reports Q1 (Dec) earnings of $0.56 per share, $0.15 better than the First Call consensus of $0.41; revenues rose 55.1% year/year to $97.7 mln vs the $90 mln consensus. Co notes from October 2006 through April 2009, the company had provided full year gross profit margin guidance in the range of 46 to 48 percent of revenue. However, it suspended this guidance last April due to the uncertainty in the global economic and industry environments caused by the severe economic downturn. In light of the stabilizing industry environment and resulting increased visibility, the company now expects its gross profit margin to be in the range of 46 to 50 percent of revenue for full fiscal year 2010. The increase in the upper level of the range reflects the contribution of Epoch's strong gross profit margins and associated synergies, as well as improvement associated with higher pad revenue. This guidance is for the full fiscal year and quarter to quarter the company's gross profit percentage may be above or below this range.
06:10
CSH Cash America beats by $0.11, beats on revs; guides Q1 EPS above consensus; guides FY10 EPS in-line (35.88 )
Reports Q4 (Dec) earnings of $1.09 per share, $0.11 better than the First Call consensus of $0.98; revenues rose 15.7% year/year to $323.7 mln vs the $304.8 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.89-0.94 vs. $0.85 consensus. Co issues in-line guidance for FY10, sees EPS of $3.50-3.65 vs. $3.51 consensus. Higher balances of pawn loans outstanding and cash advance loans written generated increased revenue from these products and contributed the largest share of the growth in total revenue during 4Q09. In addition, merchandise sales rose 9% in 4Q09 compared to the same period in 2008 adding to the top line growth for the period. Gross profit margin on the disposition of merchandise was also higher year over year, boosted during the quarter by the higher market price for gold compared to the same period in 2008. The increase in gross profit contribution and the higher revenue from lending activities produced a 20% increase in net revenue.
06:07
TYC Tyco beats by $0.05, reports revs in-line (35.50 )
Reports Q1 (Dec) earnings of $0.65 per share, $0.05 better than the First Call consensus of $0.60; revenues fell 4.1% year/year to $4.25 bln vs the $4.21 bln consensus.
06:05
TWC Time Warner Cable beats by $0.03, reports revs in-line (43.62 )
Reports Q4 (Dec) earnings of $0.91 per share, $0.03 better than the First Call consensus of $0.88; revenues rose 3.0% year/year to $4.53 bln vs the $4.53 bln consensus. Subscription revenues grew 4.2% year-over-year to $4.3 billion, driven by a 3.6% increase in residential subscription revenues and a 14.1% increase in commercial subscription revenues. Advertising revenues declined 17.6% to $201 million. For the full-year 2009, Primary Service Unit ("PSU") net additions were 795,000, including 101,000 in the fourth quarter. At December 31, 2009, total PSUs were 26.4 million. Double and Triple Play Subscribers increased by 27,000 and 64,000 in the fourth quarter, respectively, and bundled subscribers totaled 8.3 million, or 57.3% of total customer relationships as of December 31, 2009.
06:03
DHR Danaher beats by $0.09, beats on revs (74.19 )
Reports Q4 (Dec) earnings of $1.12 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $1.03; revenues fell 1.4% year/year to $3.13 bln vs the $3 bln consensus, core revs fell 9% YoY. "We were encouraged by the continued sequential end market improvements in the fourth quarter, as well as our team's solid execution on the restructuring initiatives undertaken throughout the year. Our continued focus on internal growth investments, new product introductions and strategic M&A opportunities give us confidence that we can outperform in 2010 and over the long term."
05:10
QSII Quality Systems reports EPS in-line, revs in-line (59.55 )
Reports Q3 (Dec) earnings of $0.46 per share, in-line with the First Call consensus of $0.46; revenues rose 14.4% year/year to $75 mln vs the $75.5 mln consensus.
05:09
CHKP Check Point Sftwr beats by $0.04, beats on revs; authorizes share repurchase of up to additional $250.0 mln (33.17 )
Reports Q4 (Dec) earnings of $0.61 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.57; revenues rose 25.1% year/year to $272.1 mln vs the $257.8 mln consensus. Co authorizes share repurchase of up to additional $250.0 mln.
03:08
On The Wires
Merck (MRK) announces the European Commission approval of ELONVA. ELONVA is indicated for controlled ovarian stimulation in combination with a GnRH antagonist for the development of multiple follicles in women participating in an assisted reproductive technology program. With the EC approval, Merck receives marketing authorization for ELONVA with unified labeling valid in all European Union Member States... Canadian Natural Resources (CNQ) announces that, together with North West Upgrading, it has submitted a joint proposal to the Alberta Government to construct and operate a bitumen refinery near Redwater, Alberta.
03:06
ABFS Arkansas Best misses by $0.58, beats on revs; reduces quarterly dividend (25.96 )
Reports Q4 (Dec) loss of $0.88 per share, excluding non-recurring items, $0.58 worse than the First Call consensus of ($0.30); revenues fell 5.0% year/year to $371.6 mln vs the $365.8 mln consensus. Co reduces quarterly dividend to $0.03/share from $0.15/share.
02:18
TSM Taiwan Semi reports EPS in-line, revs in-line; issues upside guidance for Q110 (9.99 )
Reports Q4 (Dec) earnings of $0.19 per share, in-line with the First Call consensus of $0.19; revenues rose 45.2% year/year to $2.85 bln vs the $2.85 bln consensus. Co issues upside guidance for Q110; expects 1Q10 revenue of NT89.0-91.0 bln vs NT$87.75 bln consensus. Co sees gross profit margin of 46.5-48.5% and operating profit margin to be between 35% and 37%.
02:10
SPP Sappi Limited reports basic EPS of $0.01, excludes items, ($0.05) per share First Call consensus; revenues increased 36.5% year/year to $1.62 bln vs $1.49 bln consensus (4.11 )
01:42
SJW SJW raises annual dividend to $0.68 from $0.66 (22.20 )
01:40
MEOH Methanex misses by $0.02, beats on revs (23.36 )
Reports Q4 (Dec) earnings of $0.28 per share, $0.02 worse than the First Call consensus of $0.30; revenues fell 6.5% year/year to $381.7 mln vs the $375.2 mln consensus.
01:21
CSCD Cascade Microtech acquires test systems division of SUSS MicroTec AG (4.25 )
Co announces that it has acquired the semiconductor test systems business of SUSS MicroTec AG.. Under the terms of the agreement, Cascade Microtech has acquired all of the outstanding capital stock of SUSS MicroTec Test Systems GmbH, a wholly owned subsidiary of SUSS MicroTec AG, plus other related assets. The purchase price, which is subject to a post-closing purchase price adjustment, consists of a fixed amount and an amount placed in escrow. The fixed component amounts to EUR 4.5 million ($6.3 million) of which EUR 2.0 million ($2.8 million) was paid in cash and EUR 2.5 million ($3.5 million) was paid in shares of Cascade Microtech common stock. In addition, an amount of EUR 2.5 million ($3.5 million) has been placed in escrow and will be released to the seller upon meeting certain post-sale conditions. Cascade Microtech expects the acquisition to be accretive by YE10.
19:00
CBT Cabot beats by $0.38, beats on revs (26.57 +0.86)
Reports Q1 (Dec) earnings of $0.65 per share, excluding $0.21 in non-recurring items, $0.38 better than the First Call consensus of $0.27; revenues rose 4.1% year/year to $679 mln vs the $619.5 mln consensus. Co said, "Our key end markets are showing continued signs of recovery which bodes well for the future. Given that we are seeing demand stabilize around current levels, a full recovery to pre-downturn volumes may occur at a more moderate pace. Our restructuring work is yielding benefits, recently completed energy investments will begin to show results in 2010 and our emerging market investments will enable growth in the coming years. In summary, we have weathered the economic downturn with a strong balance sheet and are confident we will deliver on our long-term financial goals."
18:29
TER Teradyne beats by $0.02, reports revs in-line; guides Q1 EPS above consensus, revs above consensus (10.26 +0.14)
Reports Q4 (Dec) earnings of $0.17 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.15; revenues rose 37.3% year/year to $267.4 mln vs the $266.9 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.20-0.26, excluding non-recurring items, vs. $0.13 consensus; sees Q1 revs of $290-310 mln vs. $268.67 mln consensus.
18:27
HTWR HeartWare International announces pricing of public offering of common stock at $35.50 (35.77 +1.06)
18:05
KEX Kirby Corp misses by $0.01, misses on revs; guides Q1 EPS below consensus; guides FY10 EPS below consensus (35.98 +0.96)
Reports Q4 (Dec) earnings of $0.59 per share, excluding $0.05 non-recurring charge, $0.01 worse than the First Call consensus of $0.60; revenues fell 20.5% year/year to $259.6 mln vs the $263.9 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.42-0.47 vs. $0.53 consensus. Co issues downside guidance for FY10, sees EPS of $1.85-2.20 vs. $2.46 consensus. Co says, " Our low end guidance assumes volumes will be consistent with current volumes throughout 2010, with continued downward pressure on term contract renewals and spot market pricing in the first half of 2010. Our high end guidance assumes an improvement in volumes as the year progresses, some reduction in excess tank barge capacity and some improvement in term contract and spot market pricing. We anticipate our diesel engine services segment will continue to face challenges but we do believe we have reached the bottom of the diesel engine services business cycle."
17:52
CMO Capstead Mortgage misses by $0.01 (60.25 -0.41)
Reports Q4 (Dec) core earnings of $0.54 per share, $0.01 worse than the First Call consensus of $0.55. Book value ended year at $11.99 per common share
17:44
INDXCH Standard & PoorĆ¢??s Announces Changes to U.S. Indices
Sun Microsystems (JAVA) has been acquired by Oracle (ORCL, also in the S&P 500) and will be deleted from the S&P 500 after tomorrow night's close of trading. Previously announced as a TBA, NRG Energy (NRG) will replace Sun Microsystems in the S&P 500 after the close of trading tomorrow night.
17:41
SHBI Shore Bancshares misses by $0.06 (13.55 +0.23)
Reports Q4 (Dec) earnings of $0.14 per share, $0.06 worse than the First Call single-analyst est of $0.20. The provision for credit losses was $3.7 mln for the three months ended December 31, 2009. Nonperforming assets to total assets was 1.63% at December 31, 2009. The comparable nonperforming asset ratio was 1.51% at September 30, 2009 and 0.79% at December 31, 2008. The allowance for credit losses to period-end loans increased to 1.19% at December 31, 2009, compared to 1.17% at September 30, 2009 and 1.05% at December 31, 2008.
17:34
BKS Barnes & Noble has not given personal, credit or debit card information to discount clubs (18.07 -1.63) -Update-
Co acknowledged today that it has received a subpoena from the New York State Attorney General for information concerning an investigation into online retailers who link customers to discount clubs that charge hidden fees. Barnes & Noble said that it wants to reassure customers that it is not one of the retailers who turns over personal or credit or debit card information to discount clubs.
17:34
STAN Standard Parking announed Metropolitan Washington Airports Authority Awards two three-year transportation contracts to the co (16.48 +0.33)
Co has been awarded two three-year contracts with the Metropolitan Washington Airports Authority. Pursuant to the contracts, Standard Parking will manage the operation and maintenance of shuttle bus services at Ronald Reagan Washington National Airport and Washington Dulles International Airport.
17:33
FNET FortuNet special committee recommends that stockholders tender their shares in tender offer; Trust is seeking to acquire outstanding Shares for $2.25 per share in cash (2.24 0.00)
17:26
NGD New Gold announces agreement to sell Amapari mine (4.15 )
Co announces the signing of an agreement to sell its Brazilian subsidiary Mineracao Pedra Branca do Amapari Ltda. ("MPBA"), which holds the Amapari mine and other related assets, to Beadell Resources Ltd. ("Beadell") (ASX-BDR) for $63 mln. Beadell is an Australian listed gold-focused co with exploration and development assets in Western Australia and Brazil. Proceeds to New Gold will be $46 mln in cash and $17 mln in Beadell shares and are contingent on the successful completion of an A$75 mln equity offering by Beadell. The Macquarie Fixed Income, Currencies and Commodities Group of Macquarie Bank Limited and Macquarie Capital Group Limited have committed to subscribe for a total A$10 mln of Beadell shares (A$5 mln each) at the bookbuild price up to A$0.25 per share.
17:25
CTS CTS Corp beats by $0.04, beats on revs; guides FY10 EPS in-line, revs below consensus (8.42 -0.21)
Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.04 better than the First Call consensus of $0.15; revenues fell 17.8% year/year to $133.9 mln vs the $130 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.45-0.53 vs. $0.52 consensus; sees FY10 revs up 10-15%, which equates to ~$548.9-573.8 mln vs. $640.00 mln consensus.
17:22
FCE.A Forest City Enterprises unit closed the sale of its partnership interests in three supported-living apartment communities (11.39 +0.24)
Co announced that a subsidiary has closed the sale of its partnership interests in three supported-living apartment communities to a subsidiary of Hyatt Corporation. Units of Forest City and Hyatt have been partners in the properties since their initial development. Forest City expects to receive proceeds of approximately $30 million from the sale.
17:21
KBR KBR Inc. plans to expand presence in Houston (19.45 +0.09)
Co announced plans to extend its lease and expand its presence in downtown Houston. The downtown expansion will replace previously announced plans to develop a KBR campus in West Houston. The new total of KBR leased space in downtown will be just over 1.2 million square feet at completion. Renovation planning for the expansion will begin next month with project work then scheduled to begin in the second quarter.
17:17
AF Astoria Fincl beats by $0.01 (13.50 +0.40)
Reports Q4 (Dec) earnings of $0.09 per share, $0.01 better than the First Call consensus of $0.08. "Despite high unemployment and a weak housing market, we continue to remain cautiously optimistic as the economy begins to show signs of improvement. We are encouraged by the stabilizing trends we are seeing in non-performing loans, which if sustained, will have a positive impact on future credit costs and earnings. In the near term, as a result of the U.S. government's efforts to keep residential mortgage rates artificially low coupled with elevated conforming loan limits in many of the markets we operate in, loan prepayments will remain high and restrain loan and balance sheet growth. If and when these government programs subside, mortgage rates should return to normal market levels and we should resume loan and balance sheet growth at reasonable spreads. With respect to the net interest margin, we expect modest increases in the first half of 2010 as we continue to realize the benefit from significant CD repricing opportunities."
17:07
JBHT JB Hunt Trans reports EPS in-line, beats on revs (32.83 +0.44)
Reports Q4 (Dec) earnings of $0.32 per share, in-line with the First Call consensus of $0.32; revenues fell 0.3% year/year to $877 mln vs the $840.5 mln consensus. "All of our business segments experienced pricing pressure and resulting margin contraction aggravated by the on-going recession. The pressure contributed significantly to the decline in earnings for the year. Prices must increase substantially to ensure a viable transportation industry through adequate returns. Obtaining acceptable pricing must be the most critical priority for 2010. We are particularly proud of our employees who have continued to provide uncompromised service and commitment to our customers."
17:01
HSTX Harris Stratex enters into turnkey contract with Uninor for transmission microwave solutions (7.52 +0.26)
Co announces it has signed a contract with Uninor - the joint venture of the Telenor Group and India's Unitech Ltd. The contract is all-inclusive, incorporating supply, install, commission and maintenance services, as well as the backhaul and access microwave links. Under the five year contract, Harris Stratex will supply its latest state-of-the-art Eclipse platform microwave solution to meet both TDM and IP backhaul requirements.
16:50
CFNL Cardinal Financial increased its quarterly cash dividend to $0.02 per share up from $0.01 per share (8.97 +0.37) -Update-
16:48
ARP American Reprographics raises 2009 EPS guidance above consensus (6.72 +0.12)
Co raised 2009 EPS to $0.35-0.38 vs. $0.30 First Call consensus, up from $0.27-0.33. The co said ARC 2009 earnings are expected to exceed estimates due to less than anticipated decline in Q4 revenue.
16:48
DRE Duke Realty beats by $0.03, beats on revs; guides FY09 FFO below consensus (12.05 +0.07)
Reports Q4 (Dec) funds from operations of $0.31 per share, $0.03 better than the First Call consensus of $0.28; revenues fell 11.1% year/year to $340.2 mln vs the $221.7 mln consensus. Co issues downside guidance for FY09, sees FFO of 0.95-1.15 vs. $1.50 consensus. Co states, "During 2009 we made significant progress on the capital side of our business, raising over $1.6 billion. In addition, during the fourth quarter we renewed our line of credit through 2013 and had no balance outstanding on the line at year end," said Dennis D. Oklak, chairman and chief executive officer. "We also ended the year with positive leasing momentum, increasing our occupancy by 80 basis points during the fourth quarter." Oklak continued, "As we look forward to 2010, we expect economic conditions to remain challenging; however, we will continue to execute on our operating, capital and asset strategies." Co continued, "While economic forecasts call for tepid GDP growth during 2010, unemployment remains high and is expected to worsen with nominal economic growth forecasted by the end of the year. Our earnings guidance reflects the economic environment we face as we continue to focus on improving our portfolio performance and further positioning our business for growth as the economy recovers."
16:46
ARP raised 2009 EPS to $0.35-0.38 vs. $0.30 First Call consensus, up from $0.27-0.33
16:45
ARP 2009 Earnings Expected to Exceed Estimates Due to Less Than Anticipated Decline in Fourth Quarter Revenue
16:44
MUR Murphy Oil reports Q4 (Dec) results, beats on revs (51.87 -0.25)
Reports Q4 (Dec) earnings of $1.65 per share, which included a $185.3 million after-tax benefit from anticipated recovery of deepwater federal royalties previously paid for certain oil and gas properties in the Gulf of Mexico. may not be comparable to the First Call consensus of $0.85; revenues rose 33.1% year/year to $5.87 bln vs the $3.93 bln consensus. "First quarter 2010 production is projected to average 192,000 barrels of oil equivalent per day, with sales volumes projected at 198,000 barrels of oil equivalent per day. Our current earnings estimate for the first quarter is in the range of $0.80 to $0.95 per diluted share. This estimate includes total exploration expense of between $50 million and $90 million, with a worldwide downstream loss of $24 million. Projected results for the first quarter could be affected by commodity prices, drilling results, timing of oil sales and refining and marketing margins."
16:43
ANV Allied Nevada reports positive results from metallurgical testing at Hycroft mine (12.92 +0.14)
Co reports positive results from metallurgical testing on seven new samples of sulphide mineralization taken from the Vortex zone at the Company's wholly owned Hycroft mine located near Winnemucca, Nevada. Testing of the seven samples of sulphide material with average grades of 1.02 grams per tonne ("g/t") gold and 43.87 g/t silver, further confirms previous test work (as reported in the April 13 and August 12, 2009 press releases), which indicated that sulphide mineralization is amenable to conventional flotation technology.
16:43
LRCX Lam Research beats by $0.07, beats on revs (35.54 +0.54)
Reports Q2 (Dec) earnings of $0.47 per share, $0.07 better than the First Call consensus of $0.40; revenues rose 71.8% year/year to $487 mln vs the $453.6 mln consensus. LRCX reports gross margins of 44.8% vs 44.4% consensus. "In the December 2009 quarter we saw significant growth in shipments, revenue and earnings for Lam Research. As we move into 2010 we will continue to focus on delivering market share gains in our etch and clean businesses to expand revenues, earnings per share and cash generation from cycle to cycle."
16:42
TNDM Neutral Tandem announces court issues order construing disputed terms in Neutral Tandem patent infringement case (15.80 -0.19)
Co announced that the United States District Court for the Northern District of Illinois issued an order construing disputed terms of Neutral Tandem's patent in Neutral Tandem's patent infringement case against Peerless Network. The court adopted the constructions proposed by Neutral Tandem for each of the terms construed in the order. The court stated that a written opinion would follow.
16:41
FRE Freddie Mac reports December monthly volume summary (1.21 -0.01)
Co reports Dec total mortgage portfolio increased at an annualized rate of 5.7%. The aggregate unpaid principal balance (UPB) of mortgage-related investments portfolio was $755.3 billion at December 31, 2009, down from $761.8 billion at November 30, 2009. The net amount of mortgage-related investments portfolio mortgage purchase (sale) agreements entered into during the month of December totaled $2,618 million, up from the $378 million entered into during the month of November. Refinance-loan purchase and guarantee volume was $27.3 billion in December, up from $19.3 billion in November. Total guaranteed PCs and Structured Securities issued increased at an annualized rate of 5.9% in December. December 2009 issuance includes $4.4 billion of guarantees under the Housing Finance Agencies (HFA) initiative, under which Treasury bears initial losses on these securities up to 35% of the program-wide issuance. The single-family portfolio delinquency rate rose to 3.87% in December, up 15 basis points from November. The multifamily delinquency rate was 0.15% in December.
16:37
NE Noble Corp beats by $0.14, reports revs in-line (42.19 +0.03)
Reports Q4 (Dec) earnings of $1.72 per share, $0.14 better than the First Call consensus of $1.58; revenues rose 1.4% year/year to $894 mln vs the $896.4 mln consensus. "We expect to begin to realize the benefits of our fleet expansion program in 2010 ... The commencements of operations of three new ultra-deepwater units, coupled with our outstanding backlog, give us positive momentum for the year ahead. At the same time, we will stay focused on fundamentals and work hard to create value for the shareholders."
16:35
TTEK Tetra Tech beats by $0.01, beats on revs; guides Q2 EPS below consensus, revs below consensus; lowers FY10 EPS below consensus, lowers revs below consensus (25.07 +0.35)
Reports Q1 (Dec) earnings of $0.30 per share, $0.01 better than the First Call consensus of $0.29; revenues rose 4.1% year/year to $343.5 mln vs the $339.7 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.20-0.23 vs. $0.30 consensus; sees Q2 revs of $310-330 mln vs. $354.69 mln consensus. Co lowers guidance for FY10, sees EPS of $1.08-1.18 vs. $1.32 consensus, down from $1.25-1.35; lowers FY10 revs of $1.4-1.5 bln vs. $1.5 bln consensus, down from $1.45-1.55 bln.
16:33
OI Owens-Illinois beats by $0.02, beats on revs (28.50 -1.15)
Reports Q4 (Dec) earnings of $0.49 per share, $0.02 better than the First Call consensus of $0.47; revenues rose 11.8% year/year to $1.9 bln vs the $1.8 bln consensus. The co successfully renegotiated several North American customer contracts, effective in 2010. Regarding these new agreements, Stroucken said, "We will earn higher profit margin percentages on this business, and attain greater margin stability in the future. To achieve these objectives, shipment levels in the region will likely decline. As a result, we will incur additional temporary production curtailments in the first half of 2010 until we permanently reduce capacity due to this change in business mix. In 2010, we intend to maintain the strong North American operating profits achieved in 2009, while long-term profits will improve considerably once capacity has been realigned." Commenting on the co's outlook for full year 2010: "Globally, higher prices should more than offset cost inflation, which we anticipate will remain modest throughout the year. As the economy continues to recover, we expect global glass shipments will improve from the prior year. Results should benefit from lower fixed costs due to the Company's strategic footprint initiative, while non-operational costs will increase primarily due to higher pension expense. Despite the challenges of the global economic recession during the past two years, O-I enters 2010 well positioned to drive profitable growth as markets recover and we execute on our strategic priorities."
16:32
TTEK announced today that it is one of five firms awarded a $750 mln contract to provide design-build services for large construction projects for the U.S. Navy
16:31
ZHNE Zhone Technologies reports Q4 results (0.59 +0.01)
Co reports Q4 EPS of $0.00 vs $0.01 single estimate; revs $36.04 mln vs $37.87 mln single estimate. "We're excited by stronger than expected profitability associated with the market acceptance of the MXK product family. The initial positive reaction to our new products is very encouraging and we hope to build on that momentum in 2010," stated Mory Ejabat, Zhone's chief executive officer. "In the fourth quarter, we achieved our primary financial goal of generating positive quarterly pro forma EBITDA and GAAP net income and now focus on improving that profitability for 2010 and beyond."
16:30
CXW Corrections Corp announces Arizona notification not to renew contract at Huerfano County Correctional Center (19.39 -0.24)
Co announces it has received notification from the Arizona Department of Corrections of its election not to renew its contract at CCA's 752-bed Huerfano County Correctional Center in Colorado, which is scheduled to expire on March 8, 2010. Arizona expects to begin transferring offenders from the Huerfano facility beginning on March 10, 2010 and expects to complete the transfer on March 22, 2010. As a result of this notification, CCA will idle the Huerfano facility shortly thereafter, but will continue marketing the facility to other customers.
16:29
FSBI Fidelity Bancorp, Inc. reports Q1 results (4.85 0.00)
Co reports Q1 EPS of $0.04 vs $0.53 a year ago. The $1.5 million decrease in net income primarily reflects charges of $1.2 million for other-than-temporary impairment ("OTTI") on certain investment securities. Annualized return on assets was 0.13% and return on equity was 1.97% for the fiscal 2010 period, compared to 0.91% and 15.66%, respectively, for the same period in the prior year. Net charge-offs for the three-months ended December 31, 2009 were $39,000 compared to $394,000 in the prior year period. Non-performing assets and foreclosed real estate were 2.22% of total assets at December 31, 2009, and the allowance for loan losses was 36.7% of non-performing loans and 1.46% of gross loans at that date. Non-performing assets and foreclosed real estate were 1.24% of total assets at December 31, 2008, and the allowance for loan losses was 39.6% of non-performing loans and 0.75% of gross loans at that date.
16:26
LIFE Life Technologies announced investments designed to extend the use of sequencing (48.68 +0.19)
Co announced a series of investments and new technologies designed to extend the use of sequencing in the research arena and make it more relevant for physicians. The company introduced the Applied Biosystems SOLiD 4 Sequencing System at a cost of $6,000 per genome. The system, which leverages proprietary advances in sequencing chemistry, will be available as an upgrade for all SOLiD installations in the first quarter of 2010. The company also announced that in the second half of the year, the SOLiD 4 System can be upgraded with the SOLiD 4hq package that will sequence full genomes for $3,000.
16:26
SCI Service Corp International extends offer for Keystone North America (7.67 -0.03)
Co announces that its wholly-owned subsidiary, SCI Alliance Acquisition Corporation, has extended the expiry time of its offer dated November 16, 2009, as amended, to purchase all of the issued and outstanding common shares in the capital of Keystone North America Inc. The expiry time of the Offer has been extended from 5:00 p.m. on Monday, February 1, 2010 to 12:00 p.m. on Friday, February 26, 2010. SCI continues to anticipate that the transaction will close in the first quarter of 2010.
16:24
CWT California Water increasing the annual dividend to $1.19 from $1.18 (36.24 +0.05)
16:24
BMC BMC Software beats by $0.08, beats on revs; guides FY10 EPS in-line (37.24 -0.30)
Reports Q3 (Dec) earnings of $0.76 per share, $0.08 better than the First Call consensus of $0.68; revenues rose 4.0% year/year to $508 mln vs the $493.1 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.64-2.72 vs. $2.61 consensus. Expects total bookings and revenue growth in the low single digits; expects currency to have a slightly positive impact on bookings; A license bookings ratable rate in the low 50s versus 50 percent in fiscal 2009; non-GAAP tax rate of 27 percent. The Company also expects full year fiscal 2010 cash flow from operations to be between $600 million and $650 million, unchanged from prior expectations.
16:23
MW Men's Wearhouse quarterly dividend to $0.09 per share from $0.07 (20.62 +0.52)
16:23
FTNT Fortinet beats by $0.06, beats on revs (18.65 +0.34)
Reports Q4 (Dec) earnings of $0.13 per share, $0.06 better than the First Call consensus of $0.07; revenues rose 19.6% year/year to $70.7 mln vs the $67 mln consensus. Total billings were $82.3 mln for the fourth quarter of 2009, an increase of 13% compared to the fourth quarter of 2008. Co states, "We are very pleased with the company's performance during our first quarter as a public company. In addition to reporting record total revenue, strong billings growth and cash collections led to fourth quarter and full year cash flow that was ahead of our expectations. While cognizant of the volatile economic environment, we remain focused on growing our global market share, delivering strong profits and cash flow, and continuing to introduce innovative, high-performance products."
16:22
HXL Hexcel beats by $0.02, beats on revs; sees flat to slightly declining revenue in 2010 (12.43 +0.19)
Reports Q4 (Dec) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues fell 7.9% year/year to $266.6 mln vs the $257.6 mln consensus. The volatile nature of the global economy and the potential effects on our customers results in a good deal of uncertainty in our 2010 outlook. Our operating assumptions assume a difficult first half in industrial markets and no changes to the announced large aircraft build rates through 2011. We also expect an end to our sales for the F22 program in 2010, but not the C17. With these assumptions, we foresee flat to slightly declining revenue on a constant currency basis for the full year, with the first quarter being the weakest, particularly when compared to 2009's relatively strong first quarter (consensus calls for flat revenues in 2010). However, with the recent successful first flights for several aerospace programs and solid progress on other new programs, we remain encouraged by the demand shift to larger, more composite-intensive aircraft that will benefit us in 2010 and beyond. We remain pleased with our long-term prospects. We are using this pause in growth to improve our operational efficiencies, enhance our technologies and remain focused on taking the actions necessary to position ourselves for the future.
16:21
MLNX Mellanox Tech beats by $0.06, beats on revs (18.87 )
Reports Q4 (Dec) earnings of $0.28 per share, $0.06 better than the First Call consensus of $0.22; revenues rose 40.9% year/year to $35.5 mln vs the $34.8 mln consensus. Q4 gross margins were 75.6%.
16:20
CTXS Citrix Systems beats by $0.14, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS in-line, revs above consensus (41.98 -0.10)
Reports Q4 (Dec) earnings of $0.66 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.52. Co issues mixed guidance for Q1, sees EPS of $0.39-0.40 vs. $0.40 consensus; sees Q1 revs of $405-410 mln vs. $403.77 mln consensus. Co issues mixed guidance for FY10, sees EPS of $1.87-1.90 vs. $1.88 consensus; sees FY10 revs of $1.74-1.76 bln vs. $1.74 bln consensus.
16:20
HBI Hanesbrands reports EPS in-line, revs in-line; production suspensions in Haiti should not have an impact on sales (23.16 +0.16)
Reports Q4 (Dec) earnings of $0.56 per share, excluding non-recurring items, in-line with the First Call consensus of $0.56; revenues fell 4.5% year/year to $988.7 mln vs the $984.7 mln consensus. Update on Haiti Contract Operations Production has resumed and is ramping up at the company's contract T-shirt sewing operations that were affected by the Jan. 12 earthquake in Haiti. With resumption of production, the addition of new contract suppliers, and added production at co-owned plants, Hanesbrands expects full pre-earthquake levels of T-shirt production as soon as mid-February. The temporary production suspension in Haiti should not have a material impact on sales of the co's T-shirts. The co has three primary contract sewing operations in Haiti, two of which were affected by the earthquake. The co is supplying humanitarian aid to the contract workers and to relief agencies working throughout Haiti.
16:20
PNNW Pennichuck announces 2.9% cash dividend increase payable on March 1, 2010
Co announces that the Company's Board of Directors has authorized a 2.9% cash dividend increase above the December 1, 2009 quarterly cash dividend payment. The Company will commence paying the increased dividend on March 1, 2010 to shareholders of record as of February 15, 2010. Beginning with the March 1, 2010 payment, Pennichuck's quarterly dividend will increase to $.18 per share from $.175 per share.
16:20
COHU Cohu beats by $0.17, reports revs in-line (12.81 +0.41)
Reports Q4 (Dec) earnings of $0.11 per share, $0.17 better than the First Call consensus of ($0.06); revenues rose 26.1% year/year to $52.2 mln vs the $52 mln consensus.
16:20
LSTR Landstar System misses by $0.04, beats on revs; guides Q1 EPS in-line (39.15 +0.47)
Reports Q4 (Dec) earnings of $0.37 per share, $0.04 worse than the First Call consensus of $0.41; revenues fell 9.3% year/year to $547.7 mln vs the $523.5 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.28-$0.32 vs. $0.31 consensus. Co states, "Diluted earnings per share in the 2009 fourth quarter compared to the 2008 fourth quarter was negatively impacted by $0.10 per diluted share due to increased insurance and claims expense attributable to an unusual amount of adverse development of commercial trucking claims in the 2009 fourth quarter, partly offset by $0.03 per diluted share from a lower provision for taxes... Operating margin was 5% in the 2009 fourth quarter compared to 6.8% in the 2008 fourth quarter, primarily as a result of the adverse development of commercial trucking claims."
16:19
HOKU HOKU Scientific and Tianwei Announce Plans to Explore $50 mln Investment in Hawaii Solar Projects (2.58 +0.16) -Update-
The co and Tianwei New Energy Holdings announced the signing of a letter of intent to explore the establishment and capitalization of an investment fund to provide dedicated financing for photovoltaic (PV) power systems to be installed and operated in the State of Hawaii by Hoku Solar, Hoku's PV integration subsidiary. The letter of intent is non-binding, and intended as a framework for further discussions and negotiations. Under the terms of the letter of intent, the two companies will begin the process of structuring a solar project financing fund that could be as large as $50 million, which would provide funding for the installation and operation of large commercial, industrial, and utility-scale PV projects via power purchase agreements (PPA).
16:19
CFNL Cardinal Financial reports net income of $0.12/share, $0.02 above consensus vs $0.07 in the yr-ago; (8.97 +0.37)
Co announced annual earnings surpassing $10 million for the first time in its history. " am pleased as we announce 2009 results that we achieved improved financial performance and capital strength while maintaining sound asset quality. Even in such challenging times locally and nationally, our long term philosophy of Ć¢??conservative on risk and aggressive on sales' remains. We are in a prime position to continue our path toward improved profitability with balanced growth. We have been very focused on activities that increase our revenue in the future and believe these investments will continue to add to our core franchise value."
16:19
BYI Bally Technologies reports EPS in-line, misses on revs; reaffirms FY10 EPS guidance (42.60 )
Reports Q2 (Dec) earnings of $0.58 per share, in-line with the First Call consensus of $0.58; revenues fell 8.7% year/year to $213 mln vs the $216.2 mln consensus. Co reaffirms guidance for FY10, sees EPS of $2.30-$2.55 vs. $2.44 consensus. Co also says that their fourth quarter anticipated to be stronger than their third quarter.
16:19
ETFC E*TRADE reports EPS in-line (1.65 +0.03)
Reports Q4 (Dec) loss of $0.04 per share, in-line with the First Call consensus of ($0.04). At quarter end, E*TRADE reported 4.5 million customer accounts, which included 2.7 million brokerage accounts. Brokerage accounts decreased by 17,000 in the quarter, including a reduction of 8,000 accounts as a result of the sale of the Company's local trading business in Germany. Fourth quarter provision for loan losses decreased $55 million from the prior quarter to $292 million. Total net charge-offs in the quarter were $324 million, a decrease of $27 million from the prior quarter.
16:18
FICO Fair Isaac reports 1Q10 results (22.69 -0.23)
Fair Isaac reports 1Q earnings of $0.37 vs $0.35 First Call consensus; revs declined 7% year/year to $151.5 mln vs $152.64 mln First Call consensus. The co's prior year period included $5.4 mln in revenue associated with the divested telecom product lines.
16:18
CLS Celestica to redeem its 7.625% senior subordinated notes due 2013 (9.91 +0.10) -Update-
16:18
WCRX Warner Chilcott announces FDA Issues Complete Response Letter for Low Dose Oral Contraceptive (27.29 +0.37)
Co announces it has received a complete response letter from the FDA to its New Drug Application submitted in March 2009 for its "low dose" oral contraceptive (also referred to as WC 3016). The letter states that during FDA inspections of the third-party drug substance manufacturing facility and control testing laboratory used to support the application deficiencies were noted that remain unresolved. Satisfactory resolution of these deficiencies is required before the application can be approved. No efficacy or safety issues were raised by the FDA in the letter. The co intends to work closely with the FDA and its third-party partners whose facilities were cited in the complete response letter to resolve these issues as rapidly as possible. Until that time, the Company's primary promotional focus within the U.S. hormonal contraceptive market continues to be LOESTRIN 24 Fe.
16:17
ACF AmeriCredit beats by $0.25, reports revs in-line (21.30 +0.36)
Reports Q2 (Dec) earnings of $0.33 per share, $0.25 better than the First Call consensus of $0.08; revenues fell 30.8% year/year to $386.8 mln vs the $388.9 mln consensus. The allowance for loan losses as a percentage of finance receivables was 7.7% at December 31, 2009, compared to 8.2% at September 30, 2009 and 7.1% at December 31, 2008. The Company had total available liquidity of $750 million at December 31, 2009, consisting of $320 million of unrestricted cash and approximately $430 million of borrowing capacity on unpledged eligible receivables. Co says "We had an outstanding December quarter with year-over-year improvements in all key aspects of our business - originations, credit performance and earnings, while we remain cautious about the economic recovery, our strong balance sheet and improving credit trends combined with a more favorable capital markets environment, position us well to move forward and continue to rebuild our business in 2010."
16:17
HOKU HOKU Scientific misses by $0.02, beats on revs (2.58 +0.16)
Reports Q3 (Dec) loss of $0.05 per share, $0.02 worse than the First Call consensus of ($0.03); revenues fell 66.2% year/year to $259 mln vs the $1.3 mln consensus. Revenues for the quarter ended December 31, 2009 were lower than expected as a result of management's focus on financing for the co's polysilicon facility under construction in Pocatello, Idaho, and due to slower purchasing cycles for PV systems in Hawaii in 2009. As of December 31, 2009 deferred revenue of $495,000 was attributable to PV system installations and related service contracts. "Because the demonstration was delayed... Suntech may have the right to terminate its polysilicon supply agreement with Hoku Materials, and request a refund of its $2 million prepayment. However, Suntech has not taken that position, and we expect that they will work with us to make the required adjustments to the milestone dates in the existing sales agreement. Suntech invested $20 million in our common stock in calendar year 2008, and they have previously shown their willingness to be flexible when needed." "With the closing of the Tianwei financing, we look forward to a break-through year in calendar 2010 -- both in Hawaii and in Idaho."
16:17
QCOM Qualcomm beats by $0.06, reports revs in-line; guides Q2 below consensus; guides FY10 EPS in-line, lowers revs in-line (47.20 +0.31)
Reports Q1 (Dec) earnings of $0.62 per share, excluding non-recurring items, $0.06 better than the First Call consensus of $0.56. Co issues downside guidance for Q2, sees EPS of $0.49-0.53, excluding non-recurring items, vs. $0.57 consensus; sees Q2 revs of $2.4-2.6 bln vs. $2.75 bln consensus. Co issues in-line guidance for FY10, sees EPS of $2.10-2.30, excluding non-recurring items, vs. $2.26 consensus; sees FY10 revs of $10.4-11.0 bln vs. $11.06 bln consensus, down from $10.5-11.3 bln. Co guides Q2 MSM shipments at approx. 89-92 mln; CDMA/WCDMA devices shipped of approx. 144-149 mln, and CDMA/WCDMA device wholesale average selling price of approx. $179.
16:17
WERN Werner Enterprises beats by $0.01, beats on revs (21.23 +0.38)
Reports Q4 (Dec) earnings of $0.25 per share, $0.01 better than the First Call consensus of $0.24; revenues fell 10.4% year/year to $439.6 mln vs the $433.2 mln consensus. Freight shipment volumes continued to firm in fourth quarter 2009. The daily pre-books (ratio of loads to trucks) for the One-Way truckload fleets in fourth quarter 2009 held steady from levels achieved in September 2009. On a year-over-year basis, pre-books were meaningfully stronger in fourth quarter 2009 compared to decelerating pre-books during fourth quarter 2008. Management continues to believe a portion of the Company's strengthening freight demand is caused by shippers acknowledging and adjusting to the increased risk of relying on highly leveraged carriers. Pricing remained competitive, due primarily to the high level of customer bid activity that occurred during the first half of 2009. Much of our pricing on committed business is available for review with customers in the first half of 2010. The Company is planning for a better relative freight pricing market and more freight opportunities in 2010 compared to what transpired in the first half of 2009. Management is cautiously optimistic that the Company will experience gradual improvement in the freight market during 2010.
16:15
CVD Covance misses by $0.01, beats on revs; guides Q1 EPS below consensus; guides FY10 EPS below consensus, revs below consensus (58.82 -0.48)
Reports Q4 (Dec) earnings of $0.64 per share, $0.01 worse than the First Call consensus of $0.65; revenues rose 9.4% year/year to $507.3 mln vs the $481 mln consensus. Co issues downside guidance for Q1, sees EPS of ~$0.60 vs. $0.68 consensus. Co issues downside guidance for FY10, sees EPS of $2.50-2.75 vs. $2.90 consensus; sees FY10 revs of ~10%, which equates to ~$1.9 bln vs. $2.04 bln consensus.
16:15
HRB H & R Block and Yodlee announced a strategic alliance (22.02 +0.29)
The co and Yodlee announced a strategic alliance to integrate H&R Block's tax expertise into the Yodlee online experience. Currently more than 25 million consumers access Yodlee's solutions through the online banking and portal sites. Beginning next tax season, consumers will be able to use data from their personal financial accounts, including 1099 forms, tax-deductible transactions, and business expenses, to populate information in their H&R Block tax return, allowing them to automatically identify money-saving deductions.
16:15
AMLN Amylin Pharms misses by $0.02, misses on revs (18.77 -0.24)
Reports Q4 (Dec) loss of $0.32 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of ($0.30); revenues fell 0.3% year/year to $185.5 mln vs the $219.4 mln consensus. The Company now presents reimbursements received under collaborative agreements for research and development as a reduction of research and development expense, and has reflected 2009 and 2008 information accordingly. Previously, these reimbursements were presented as revenue under collaborative agreements. This change in accounting method does not have any effect on net loss or net loss per share. The impact of this accounting change reduces net reported revenue and, correspondingly, research and development expenses by $27.7 million for the quarter and $69.1 million for the year ended December 31, 2009.
16:14
KNX Knight Transportation reports EPS in-line, misses on revs (19.37 +0.28)
Reports Q4 (Dec) earnings of $0.16 per share, in-line with the First Call consensus of $0.16; revenues fell 4.0% year/year to $167.8 mln vs the $172.4 mln consensus.
16:14
RYL Ryland Group reports Q4 (Dec) results, beats on revs (21.55 +0.65)
Reports Q4 (Dec) earnings of $0.11 per share, which is excluding inventory and other valuation adjustments and write-offs, as well as the income tax benefit and may not be comparable to the First Call consensus of ($0.26); revenues fell 20.8% year/year to $418.4 mln vs the $391.3 mln consensus. New orders in the fourth quarter of 2009 increased 74.9 percent to 969 units from 554 units in the fourth quarter of 2008. Cash, cash equivalents and marketable securities totaled $814.9 million as of December 31, 2009.
16:14
EGHT 8x8 reports 3Q10 results; beats by $0.01; misses on revs (1.30 +0.09)
8x8 reports 3Q earnings of $0.02 per share vs $0.01 Single Analyst Estimate; revs declined 2% year/year to $15.94 mln vs $16.64 mln Single Analyst Estimate
16:13
VAR Varian Medical beats by $0.07, beats on revs; guides Q2 EPS in-line, revs above consensus; guides FY10 EPS above consensus, revs in-line (48.97 -0.81)</p>
Reports Q1 (Dec) earnings of $0.63 per share, $0.07 better than the First Call consensus of $0.56; revenues rose 6.3% year/year to $540.9 mln vs the $527.3 mln consensus. Co issues guidance for Q2, sees EPS of $0.66-0.68 vs. $0.66 consensus; sees Q2 revs increasing by about 4% YoY, which calculates to roughly $575.7 mln (vs. $572.09 mln consensus). Co issues guidance for FY10, sees EPS of $2.76-2.83 vs. $2.73 consensus; sees FY10 revs increasing by 6% YoY, which calculates to roughly $2346.9 bln (vs. $2.31 bln consensus).
16:13
ISIL Intersil beats by $0.02, beats on revs; guides Q1 EPS above consensus, revs above consensus (14.23 +0.36)
Reports Q4 (Dec) earnings of $0.18 per share, $0.02 better than the First Call consensus of $0.16; revenues rose 35.5% year/year to $177.7 mln vs the $175.1 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.18-$0.20 vs. $0.15 consensus; sees Q1 revs of $180-$187 mln vs. $167.91 mln consensus. Gross margin for the fourth quarter was 55.2%, compared with gross margin of 33.7% in the same quarter last year, and 54.5% in the third quarter of 2009. Co states, "The fourth quarter was stronger than expected due to recovery of the industrial and communications end markets, and growing traction from new product introductions. Inventories reached historically low levels and we believe we are positioned for continued growth throughout our businesses in 2010."
16:12
NFLX Netflix beats by $0.11, reports revs in-line; guides Q1 EPS above consensus, revs above consensus; guides FY10 EPS above consensus, revs in-line (50.97 )
Reports Q4 (Dec) GAAP earnings of $0.56 per share, $0.11 better than the GAAP First Call consensus of $0.45; revenues rose 23.6% year/year to $444.5 mln vs the $445.6 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.47-0.58 vs. $0.44 consensus; sees Q1 revs of $490-496 mln vs. $486.06 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.28-2.50 vs. $2.23 consensus; sees FY10 revs of $2.05-2.11 bln vs. $2.05 bln consensus. Co reports Q4 total subscribers of 12.268 mln vs 12.2 mln street expectation and 11.12 mln last qtr; co guided for 12.0-12.3 mln. Co reports Q4 subscriber acquisition cost of $25.23 vs ~$24 street expectations and $26.86 last qtr. Co reports Q4 gross margins of 38.0% vs 34.68% street expectation and 34.94% last qtr, 35.20% a year ago. Co reports Q4 churn of 3.9% vs ~4.2% street expectation and 4.4% churn last qtr.
16:12
CLS Celestica beats by $0.03, reports revs in-line; guides Q1 EPS above consensus, revs above consensus (9.91 +0.10)
Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.18; revenues fell 14.0% year/year to $1.66 bln vs the $1.65 bln consensus. Co issues upside guidance for Q1, sees EPS of $0.15-0.21 vs. $0.15 consensus; sees Q1 revs of $1.45-1.60 bln vs. $1.43 bln consensus.
16:11
NSC Norfolk Southern misses by $0.02, reports revs in-line (50.43 +0.68)
Reports Q4 (Dec) earnings of $0.82 per share, $0.02 worse than the First Call consensus of $0.84; revenues fell 15.8% year/year to $2.11 bln vs the $2.12 bln consensus. The fourth-quarter operating ratio was 73.9 percent compared with 67.5 percent in the same period last year. "Our fourth-quarter results demonstrate a continuation of the momentum we have generated since the second quarter of 2009. The results reflect a high level of performance throughout Norfolk Southern, and showcase the strength and flexibility of our franchise, our industry-leading safety and service performance, and continuing strong cost discipline. We expect to build upon the sequential volume gains we experienced in the third and fourth quarters driven by anticipated improvement in economic conditions combined with project growth. We plan to invest about $1.4 billion, slightly higher than our 2009 capital spending, in our rail network in 2010, including leveraging technology to improve operational efficiency and service, and support the business growth we expect in future years."
16:10
SYMC Symantec beats by $0.03, beats on revs; guides Q4 EPS in-line, revs in-line (18.61 +0.15)
Reports Q3 (Dec) earnings of $0.40 per share, $0.03 better than the First Call consensus of $0.37; revenues rose 0.8% year/year to $1.55 bln vs the $1.51 bln consensus. Co issues in-line guidance for Q4, sees EPS of $0.36-0.37 vs. $0.37 consensus; sees Q4 revs of $1.510-1.525 bln vs. $1.52 bln consensus. Co states, ""Our consumer business, with its market-leading solutions and diverse go-to-market channels, continued to show strong momentum," said Enrique Salem, president and chief executive officer, Symantec. "Our Security and Compliance business contributed to the better than expected results, driven by our ability to sell multiple security products to our customers. In addition, our hosted services, data loss prevention and compliance solutions performed well."
16:10
GMCR Green Mtn Coffee beats by $0.11, beats on revs; guides Q2 EPS above consensus; guides FY10 EPS above consensus (80.02 -0.23)
Reports Q1 (Dec) earnings of $0.27 per share, $0.11 better than the First Call consensus of $0.16; revenues rose 77.4% year/year to $349.4 mln vs the $329.6 mln consensus. Green Mtn Coffee prelim sees Q2 total consolidated net sales growth of 64% to 69%. Co issues upside guidance for Q2, sees EPS of $0.59-0.64 vs. $0.57 consensus. Co issues upside guidance for FY10, sees EPS of $1.95-2.05 vs. $1.91 consensus.
16:08
RDEN Elizabeth Arden beats by $0.08, beats on revs; guides Q3 EPS in-line, revs in-line; raises FY10 EPS in-line, revs in-line (15.42 +0.06)
Reports Q2 (Dec) earnings of $0.80 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.72; revenues rose 6.3% year/year to $393.3 mln vs the $388.1 mln consensus. Co issues in-line guidance for Q3, sees EPS of (0.19)-(0.15) vs. ($0.15) consensus; sees Q3 revs of $210-217 mln vs. $216.58 mln consensus. Co raises guidance for FY10, sees EPS of $0.63-0.73 vs. $0.64 consensus, up from $0.55-0.65; sees FY10 revs up 2.5-3.5%, which equates to ~$1.10-1.11 bln vs. $1.1 bln consensus.
16:08
HRS Harris beats by $0.13, misses on revs; guides FY10 EPS above consensus, revs above consensus (46.80 +1.16)
Reports Q2 (Dec) earnings of $1.08 per share, $0.13 better than the First Call consensus of $0.95; revenues fell 8.3% year/year to $1.22 bln vs the $1.3 bln consensus. Co raises guidance for FY10, sees EPS of $4.25-4.35 up from $3.85 to $3.95 vs. $3.91 consensus; sees FY10 revs of $5.2-5.3 bln vs. $5.18 bln consensus.
16:07
NFLX Netflix trading 3 points higher following earnings (50.97 ) -Update- -Technical-
$54 is a resistance level, as is $57.50-$58 if it gets up there. Last trade at $53.96
16:07
TSCO Tractor Supply beats by $0.16, beats on revs; guides FY09 revs above consensus; guides FY10 EPS above consensus (52.22 +1.60)
Reports Q4 (Dec) earnings of $1.04 per share, $0.16 better than the First Call consensus of $0.88; revenues rose 7.9% year/year to $862.5 mln vs the $845.5 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $3.42-$3.48 vs. $3.19 bln consensus. Co issues upside guidance for FY10, Exclusive of the LIFO provision the firm sees EPS of 3.50-3.62 vs. $3.28 consensus.Gross margin increased 16.6% to $285.7 mln, or 33.1% of sales, compared to $245.0 mln, or 30.7% of sales, in the prior year's fourth quarter. The increase in gross margin percentage resulted primarily from a substantial decrease in the LIFO provision and lower transportation costs.
16:06
FLEX Flextronics beats by $0.02, beats on revs; guides Q4 EPS above consensus, revs in-line (7.10 +0.53)
Reports Q3 (Dec) earnings of $0.17 per share, $0.02 better than the First Call consensus of $0.15; revenues fell 19.6% year/year to $6.56 bln vs the $6.29 bln consensus. Co issues mixed guidance for Q4, sees EPS of $0.13-0.16 vs. $0.13 consensus; sees Q4 revs of $5.8-6.2 bln vs. $5.85 bln consensus.
16:06
LSI LSI Logic beats by $0.07, beats on revs; guides Q1 EPS in-line, revs above consensus (6.00 +0.26)
Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.11; revenues rose 4.6% year/year to $637.8 mln vs the $631.5 mln consensus. For Q1, co sees EPS of $0.04-0.10, excluding non-recurring items, vs. $0.06 consensus; sees Q1 revs of $590-620 mln vs. $580.1 mln consensus.
16:05
GHL Greenhill reports Q4 EPS of $0.57 vs. $0.14 First Call consensus; revenue increased 26% y/y to $66.4 mln vs. $39.03 mln consensus (79.28 +0.63)
Co states, "Our strong 2009 results demonstrate growth in our market share and continued control of our costs. Our total revenue and profitability grew substantially despite a difficult operating environment. Our advisory revenue was flat versus the prior year while most of our large competitors suffered steep declines consistent with the decline in overall transaction activity. We believe this outperformance is the result of a strategy that focuses entirely on client advisory activities and an ongoing recruiting effort for senior bankers that is clearly bearing fruit. Many of our most significant recent transaction announcements came from managing directors who joined us in the past two years. And while growth has always been an important part of our strategy, cost control has always been equally important."
16:04
GMCR After spiking higher on earnings, GMCR is now back down and hovering around unchanged (80.02 ) -Update- -Technical-
Support at recent low/October high around $78-79. Support also at $75
16:04
GLT Glatfelter Co plans to sell up to $100 million of debt securities during the first quarter of 2010 in (13.46 +0.25)
16:04
SHOR ShoreTel beats by $0.04, beats on revs; guides Q3 revs in-line (5.81 +0.59)
Reports Q2 (Dec) earnings of $0.01 per share, excluding non-recurring items, $0.04 better than the First Call consensus of ($0.03); revenues rose 0.5% year/year to $35.5 mln vs the $34.2 mln consensus. Co issues in-line guidance for Q3, sees Q3 revs of $33-36 mln vs. $35.41 mln consensus.
16:03
ALGN Align Tech beats by $0.07, beats on revs; guides Q1 EPS above consensus, revs above consensus (16.64 +0.18)
Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.09; revenues rose 16.9% year/year to $86.6 mln vs the $80.6 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.12-0.14, excluding non-recurring items, vs. $0.08 consensus; sees Q1 revs of $85-88 mln vs. $80.42 mln consensus.
16:03
TCBI Texas Capital announces $40 million discretionary equity issuance program (16.00 +0.48)
Co entered into an Equity Distribution Agreement with Morgan Stanley & Co. Incorporated, pursuant to which the Company may, from time to time, offer and sell shares of its common stock, having aggregate gross sales proceeds of up to $40,000,000. Sales of the shares, if any, will be made by means of brokers' transactions on or through the NASDAQ Global Select Market at market prices prevailing at the time of the sale or as otherwise agreed to by the Company and Morgan Stanley.
16:02
BYI Bally Technologies announces seven-year contract extension with New York Lottery to continue providing video gaming terminals to state's casinos (42.60 -0.63)
Co announced that it has signed a seven-year contract to extend its current term with the New York Lottery to continue providing video gaming terminals to the state's eight racetrack casinos. The contract extension will commence immediately and run through December 31, 2017.
16:02
SRDX SurModics beats by $0.07, beats on revs (20.45 )
Reports Q1 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.17; revenues fell 26.0% year/year to $21 mln vs the $19.4 mln consensus.
16:01
QCOM Qualcomm trading a point lower following earnings, trading below the Jan. lows of $46.57 (47.20 ) -Update- -Technical-
Last trade at $46.20. Low was $45.40
16:00
ENZN Enzon stockholders approve sale of specialty pharmaceutical business (9.87 -0.01)
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