Briefing.com: Hourly In Play (R) – 20:00 ET
Apr 14, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 14-Apr-10 20:00 ET
18:34
SNTS Santarus confirms District Court ruling in Par litigation (5.36 ) -Update-
Co confirmed that the U.S. District Court for the District of Delaware has ruled that five patents covering Santarus' ZEGERID (omeprazole/sodium bicarbonate) prescription products are invalid due to obviousness. These patents were the subject of lawsuits brought by Santarus against Par Pharmaceutical (PRX). The case was heard in a five-day bench trial that concluded on July 17, 2009. Santarus plans to appeal the Court's ruling to the U.S. Court of Appeals for the Federal Circuit Court.
18:31
MDVN Medivation and Astellas nnounce Publication in The Lancet of positive efficacy data from Phase 1-2 trial of MDV3100 in advanced prostate cancer patients (10.71 +0.15)
MDVN and Astellas Pharma announced publication of positive results from their previously reported Phase 1-2 trial of the novel triple-acting oral androgen receptor antagonist MDV3100 in men with progressive, metastatic castration-resistant prostate cancer in the April 15 online version of The Lancet. According to the published results, MDV3100 demonstrated anti-tumor activity in patients with late-stage prostate cancer as evaluated by reductions in prostate specific antigen (PSA) levels, radiographic findings and circulating tumor cell (CTC) counts. Anti-tumor effects were observed in patients who were resistant to standard anti-androgen treatments, as well as in patients who had progressed following chemotherapy. MDV3100 is currently in Phase 3 development for the treatment of advanced prostate cancer.
18:20
BEC Beckman Coulter signs agreements with Premier to provide medical laboratory instruments and supplies (61.47 +0.82)
Co announced that effective April 1, 2010, it has been awarded a new agreement with Premier Purchasing Partners, the group purchasing unit of Premier, to provide a full range of core laboratory systems and supplies. Premier is one of the nation's largest healthcare purchasing networks, with more than 2,300 member hospitals and 64,000 additional healthcare sites.
18:08
CENX Century Aluminum aubsidiary and Steelworkers announce second contract extension (16.45 +0.21)
Co and the United Steelworkers, have agreed to a second extension of the labor contract covering the Hawesville, Kentucky smelter operations. The agreement is now extended to May 4, 2010 at 12:01 a.m. The contract, which covers ~500 hourly workers at the Hawesville smelter, was originally scheduled to expire on March 31, 2010.
18:00
GTLS Chart Industries awarded $12 mln contract for ammonia plant in India (23.17 +0.66)
17:42
RTN Raytheon: Leading Defense Contractor Raytheon to Visit Local Electronic Assembly Manufacturer Awarded Major Contract for Patriot Missile System; Local Government Officials to Attend Meeting Friday, April 16th at LCR in Norristown (58.20 +0.07)
17:37
MGM MGM Mirage Down 6% following negative prelim Q1 results (15.41 ) -Update-
17:30
CASB Cascade enters agreements to sell assets associated with its two largest land acquisition and development loans (2.04 +0.08)
Cascade Financial (CASB) parent co of Cascade Bank announced that it has entered into agreements to sell the assets associated with its two largest land acquisition and development loans, further reducing the Co's exposure to builder lots designated for residential development. The two non-performing loans represent the sale of 397 residential lots in King and Snohomish Counties. CASB now expects to take a provision for loan losses of ~$25-27 mln in Q1 of 2010. The co's increased provision expense is the result of increased charges associated with the two loans as well as updated appraisals on other real estate loans.
17:29
GGP GGP Issues Statement Regarding Proposal from Simon Property Group (16.38 +0.23) -Update-
Co announced today it has received a proposal from Simon Property Group, Inc. and Paulson & Co. to invest in the equity of GGP. GGP said that its Board of Directors, together with its legal and financial advisors, will study the proposal consistent with its fiduciary duties.
17:23
TIBB TIB Financial announces terms with Patriot Financial Partners for private placement of stock (1.02 +0.25)
TIBB, parent co of TIB Bank and Naples Capital Advisors, announced that it has entered into a non-binding term sheet with Patriot Financial Partners, L.P. ("Patriot") pursuant to which Patriot would purchase $20.0-25 mln of newly issued shares of the Co's common stock in a private placement. Patriot's potential investment is part of the Company's previously announced plan to raise new capital. Patriot may purchase shares in the overall offering which may result in Patriot owning no more than 19.9% of the Co's pro-forma shares outstanding after completion of the overall capital offering plan. The proposed investment by Patriot is conditioned on, among other things, a maximum price per share of $0.70, a minimum of $150 mln of new capital is raised including Patriot's proposed investment, Patriot will have received the non-objection from the Board of Governors of the Federal Reserve with a determination that Patriot will not be deemed a bank holding co, and a representative of Patriot will be appointed to each of the Co's and TIB Bank's boards of directors. The term sheet provides that upon the Co securing firm commitments for a majority of the $150 mln of capital to be raised, Patriot will negotiate a stock purchase agreement setting forth the terms of the proposed investment.
17:21
Futures are mixed after hours with S&P 500 futures 0.36 points below fair value of 1207.16 and Nasdaq 100 futures 0.15 points above fair value of 2026.85
17:18
GNV GSC Investment enters into definitive agreement with Saratoga Investment Advisors, LLC (2.53 )
Co announced that Saratoga Investment Advisors, LLC and CLO Partners LLC have agreed to purchase a minority stake in the Company as part of a $55 million recapitalization plan to enable the Company to grow its business of lending to middle-market companies. The Co has been in default under its credit facility since last July. The recapitalization plan includes Saratoga and CLO Partners purchasing ~9.8 mln shares of common stock of GSC Investment for $1.52 per share pursuant to a definitive stock purchase agreement for a minority investment, pro forma for the issuance of the new shares, of ~37% of the Co's equity.
17:02
TRMS Trimeris announced Q1 net sales of FUZEON of $24.4 mln, down 12% year/year (2.40 -0.02)
17:01
ARCI Appliance Recycling Cntrs awarded a contract by National Grid to provide refrigerator and freezer recycling services for Long Island Power Authority's residential electric customers in New York (3.15 +0.15)
The program began on March 1, 2010 and will run through December 31, 2013. Through this program, participating utility customers who turn in operating but energy inefficient refrigerators and/or freezers, coined the "beasts in the basement," will be eligible for a $35.00 incentive. The incentive, which will be paid by LIPA, is designed to offset the energy costs normally incurred by keeping an old, secondary refrigerator or freezer running or the costs of disposing of an old refrigerator or freezer, often in favor of a new and more energy efficient model.
17:00
CCRT CompuCredit Holdings announces "modified dutch auction" tender offer to purchase up to $100 mln total purchase price of its outstanding 3.625% convertible senior notes due 2025 and shares of its common stock (5.56 +0.24) -Update-
Co announced that it has commenced a cash tender offer (the "Tender Offer") for (i) its outstanding 3.625% Convertible Senior Notes due 2025 (the "Notes"), up to the aggregate principal amount of Notes equal to a total purchase price of $100.0 mln (the "Tender Cap"), at a purchase price to be determined by the "Modified Dutch Auction" procedure described below, and (ii) shares of its outstanding common stock, no par value per share (the "Common Stock" and, together with the Notes, the "Securities"), in a number of shares equal to the number of such shares allowable for purchase from the Tender Cap remaining (if any) after deducting from the Tender Cap the total purchase price of the Notes actually purchased pursuant to Tender Offer, at a purchase price of $7.00 per share. The Company expects to fund the purchase of the Securities tendered in the Tender Offer with available cash on hand. The Notes will be purchased before the Common Stock, and it is possible that no Common Stock will be purchased. (Stock is halted)
16:55
CCRT CompuCredit halted, news pending (5.56 +0.24)
16:46
NOG Northern Oil & Gas announces offering of 5 mln shares of common stock at $15/share (14.85 -0.94)
16:43
STSA Sterling Financial announced its continued participation FDIC's TAG program (0.72 +0.01)
Co announced its continued participation in the Federal Deposit Insurance Corporation's (FDIC's) voluntary Transaction Account Guarantee (TAG) program through Dec. 31, 2010. Under this program, non-interest bearing transaction accounts and qualified NOW checking accounts are fully guaranteed by the FDIC for an unlimited amount of coverage. The coverage under the TAG program is in addition to, and separate from, the coverage available under the FDIC's general deposit insurance protection.
16:40
SIGI Selective Insurance Group announces catastrophe losses of ~$24 mln for the first quarter 2010, losses total $0.38 per diluted share (17.20 +0.49)
16:37
MGM MGM Mirage sees Q1 loss and revenue below consensus (15.41 ) -Update-
Co issues downside guidance; co sees Q1 ($0.31), excluding multiple items, vs. ($0.21) Thomson Reuters consensus; sees net revs of $1.36 bln vs. $1.43 bln consensus. Las Vegas Strip REVPAR decreased by 8% to $94 for the Q1 of 2010 compared to $103 in the Q1 of 2009, with occupancy of 85% and an average daily rate of $111 in the 2010 Q1. Total casino revenue is expected to be ~5% lower than the prior year, with slots revenue down ~1% for the quarter. The Co's table games volume, excluding baccarat, was down 4% in the quarter, but baccarat volume was up 17% compared to the prior year quarter. The overall table games hold percentage was lower in 2010 than the prior year quarter; in the current year Q1 the hold percentage was near the midpoint of the Co's normal 18% to 22%, while in the 2009 quarter it was at the top end of the range.
16:36
DVAX Dynavax's chronic kidney disease study confirms HEPLISAV's enhanced seroprotection against HBV infection (1.45 +0.01)
Co presented Phase 2 clinical data that demonstrate HEPLISAV 's immunogenicity and rapid protection in patients with chronic kidney disease. In a poster session at the National Kidney Foundation Spring Clinical Meeting in Orlando, FL, Dynavax results showed that two doses of HEPLISAV protected 100% of the dialysis and pre-dialysis patients measured at week 24 in the Phase 2 study.
16:36
MGM MGM Mirage announces it proposes to offer up to $ 750 mln in aggregate principal amount of convertible senior notes due 2015 in a private placement (15.41 unch) -Update-
Co plans plans to use the net proceeds from the offering to repay a portion of its outstanding indebtedness under its senior credit facility.
16:30
LIFE Life Technologies scientists help uncover powerful predictor of breast cancer progression (52.66 +1.17)
The co announces that its scientists have teamed with researchers from Stanford University School of Medicine, and other institutions to discover a genomic component that plays a key role in promoting breast cancer progression. A study published today in the journal Nature details how levels of a specific kind of non-coding RNA molecule in primary breast tumors regulate metastasis and tumor invasiveness and may be an important target for cancer diagnosis and therapy. A key to this finding was the ability of a new set of Applied Biosystems TaqMan(R) Non-Coding RNA Assays to accurately measure expression levels of this molecular marker in different breast cancer samples.
16:28
IMAX IMAX signs agreement with Blitz-Cinestar to open IMAX theatre in Zagreb, Croatia (17.41 +0.28) -Update-
Co announced an agreement with Blitz-Cinestar, Croatia's leading commercial theatre operator, to build a new stand-alone IMAX(R) theatre as part of the new Cinestar Arena Commercial 10-screen Theatre Multiplex in Zagreb, Croatia. The new digital IMAX theatre is scheduled to open in December 2010, as the first IMAX location in Croatia.
16:27
CPNO Copano Energy says cash reserves and 2010 outlook support maintaining a $0.575 quarterly distribution (25.45 +0.09)
Co says cash reserves and 2010 outlook support maintaining a $0.575 quarterly distribution to unitholders. As a result of recent public offering of common units and a temporary shut-down of the Houston Central plant to enable the start-up of fractionator, co estimates that distribution coverage for the quarter will be less than 100%. Co expects coverage to improve throughout the balance of 2010 based on increased drilling activity in north Texas and in the Eagle Ford Shale in south Texas as well as the start-up of fractionator.
16:21
ISCA International Speedway Corporation announces an increase in its annual dividend to $0.16 from $0.14 (26.96 +0.38)
16:13
UFPI Universal Forest beats by $0.01; the Co will not provide guidance for the foreseeable future (43.78 +1.41)
Reports Q1 (Mar) earnings of $0.05 per share, $0.01 better than the Thomson Reuters consensus of $0.04; revenues rose 8.6% year/year to $393.0 mln vs the $369.0 mln dual-analyst est. Co said, "The Co expects volatile economic and market conditions to prevail through 2010, limiting its ability to provide meaningful guidance for ranges of likely financial performance; therefore, the Co will not provide guidance for the foreseeable future. However, the Co remains optimistic about its performance in 2010, given its strong financial position, solid business model and diverse business opportunities that position it better than most to endure challenging times."
16:13
YUM YUM! Brands beats by $0.06, beats on revs; reaffirms FY10 EPS growth outlook (41.68 +0.73)
Reports Q1 (Mar) earnings of $0.59 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.53; revenues rose 5.8% year/year to $2.35 bln vs the $2.26 bln consensus. Co sees FY10 EPS gowth of at least 10% vs the 11.1% consensus, which calculates to FY10 EPS of at least $2.39 vs. the $2.41 Thomson Reuters consensus. Worldwide restaurant margin improvement of 0.9 percentage points driven by record performance in China. Share repurchases totaled $137 million for 4 million shares at an average price of $34.12 per share. "In the U.S., we are also pleased we have seen significant sales improvement since the fourth quarter, particularly at Pizza Hut. While we are encouraged by this improvement, we are not yet performing to expectations as profits were down 9% and same-store sales declined 1%. At YRI, we increased system sales by 1% and profits by 2% primarily due to new unit development. In the first quarter, we opened over 100 new restaurants, predominantly by our franchisees, and expect to open about 900 units this year. Although the global operating environment remains challenging, we are confident we are well on our way to another year of achieving our target of at least 10% EPS growth. Longer term, our shareholders should expect us to continue to build stronger brand positions around the world, leverage our unique ability to deliver international new unit development, maintain our industry-leading return on invested capital, and return cash through dividends and share repurchases."
16:11
MUSA Metals USA announces redemption of senior floating rate toggle notes (19.38 -0.02)
Co announced that it will redeem all of its outstanding Senior Floating Rate Toggle Notes due 2012. The outstanding notes will be redeemed on May 14, 2010 for approximately $171 million, representing a redemption price of 100 percent of the aggregate principal amount of the notes, together with accrued and unpaid interest on the notes to but not including the redemption date.
16:09
BHRT Bioheart commenced successful regenerative stem cell treatments with Latin American patients having congestive heart failure (0.75 +0.05)
Co announced that treatment with stem cell therapy on two congestive heart failure (CHF) patients was performed successfully at the Hospital Angeles Tijuana, Mexico, through Bioheart's Center of Excellence program with Regenerative Medicine Institute. The therapy employed stem cells derived from the patient's own fat (adipose tissue) obtained using liposuction. Stem cells were separated from the adipose tissue utilizing the fully-automated TGI 1200 Cell Isolation System. The recovered stem cells were injected into the patients' hearts utilizing Bioheart's MyoCath needle injection catheter.
16:06
TK Teekay Shipping announces Foinaven FPSO contract amendment (25.26 +0.43)
Co signed an agreement with the Foinaven operator (Britoil plc) and the Foinaven Co-venturers (Britoil plc and certain of its affiliates and Marathon Petroleum) to amend the operating contract for Teekay's Foinaven Floating Production Storage and Offloading (FPSO) unit, which also includes transportation services provided by two shuttle tankers. The amended contract, which applied from January 1, 2010, is comprised of the following components: a daily rate, part of which is earned based on agreed operating performance incentives (adjusted annually based on industry indices); a production tariff based on the volume of oil produced; and a supplemental tariff based on both the volume of oil produced and the annual average Brent Crude Oil price. As a result, the Foinaven FPSO unit is expected to generate incremental operating cash flow and net income of ~$30 mln to $40 mln per annum over the anticipated life of the contract period. Under the amended contract, Teekay will also receive payments of ~$60 mln, relating to the Foinaven FPSO unit's operations in previous years. The first installment of ~$30 mln is payable by the end of April 2010 and the balance is expected to be payable in the third quarter of 2010.
16:06
LCRY LeCroy: U.S. Navy selects LeCroy to supply digital oscilloscopes (5.08 +0.08)
The co announces that it has received a contract award from the U.S. Navy to supply digital oscilloscopes to the U.S. Navy's Supply Systems Command. The contract has a Best Estimated Quantity (BEQ) of up to 200 WaveRunner oscilloscopes per year for five years. LeCroy's WaveRunner 64Xi-A-N oscilloscopes passed stringent technical requirements as part of a competitive bid to qualify for U.S. Navy acceptance.
16:05
THRX Theravance announces initiation of proof of concept phase 2 clinical study with its PUMA compound, TD-1211, for the treatment of opioid-induced constipation (15.49 +0.94)
Co announced that the first patient with opioid-induced constipation (OIC) has been dosed in a Phase 2 clinical study with TD-1211, an orally-administered peripherally selective mu opioid receptor antagonist (PUMA). TD-1211 is a potent, multivalent inhibitor of the mu opioid receptor designed to alleviate gastrointestinal side effects of opioid analgesic therapy without affecting analgesia. This "proof of concept" study is designed to assess the efficacy, tolerability and safety of TD-1211 in patients with OIC.
16:05
LSTR Landstar System beats by $0.02, beats on revs; guides Q2 EPS above consensus (43.20 +0.17)
Reports Q1 (Mar) earnings of $0.34 per share, $0.02 better than the Thomson Reuters consensus of $0.32; revenues rose 16.8% year/year to $548.1 mln vs the $518 mln consensus. Co anticipates Q2 2010 revenue over Q2 2009 revenue to increase in the upper teens to low twenty percent range. Co issues upside guidance for Q2, sees EPS of $0.44-0.49 vs. $0.42 Thomson Reuters consensus. Co said, "The freight environment continues to improve. Recent trends in March, and thus far in April, indicate that both the revenue per load and the number of loads hauled remain strong compared to the corresponding prior year periods. I expect these trends to continue throughout the 2010 Q2."
16:03
REVU Princeton Review announces 14 mln share common stock offering (3.47 -0.03) -Update-
(stock is halted)
16:03
MAC Macerich lowers FY10 FFO guidance following offering; now expects FFO of $2.70-2.90 vs $3.03 Thomson Reuters consensus, down from prior guidance of $2.90-3.10 (43.73 +0.22)
The revised guidance gives effect to the proposed public offering of common stock announced by the company today (see 16:01 comment for details). Such guidance will depend upon the final terms and size of the proposed public offering of common stock.
16:03
ANDE Andersons to purchase two grain cleaning and storage facilities from O'Malley Grain; terms not disclosed (34.00 +0.18)
16:02
JBHT JB Hunt Trans beats by $0.02, beats on revs (37.05 )
Reports Q1 (Mar) earnings of $0.29 per share, $0.02 better than the Thomson Reuters consensus of $0.27; revenues rose 16.9% year/year to $845 mln vs the $792.7 mln consensus. The increase in operating revenue was primarily attributable to higher Intermodal segment volumes, significant growth in our Dedicated Contract Services (DCS) segment, higher volumes in our Integrated Capacity Solutions (ICS) segment and revenue growth in our Truck segment. Current quarter operating revenue, excluding fuel surcharges, increased 11% from the first quarter 2009. "The freight recession we have experienced for over three years, showed signs of yielding to moderate volume improvements throughout the current quarter. We believe that this is partly attributable to increases in our customers' supply chain activities and partly due to a continued shrinkage of viable capacity. Spot market rates increased in the current quarter, another sign of improving transportation economics, which has historically led to improved contract rates."
16:01
KRC Kilroy Realty announces commencement of public offering of 5.5 mln shares of common stock (35.45 -0.14) -Update-
16:01
REVU Princeton Review halted - news pending (3.47 -0.03)
16:00
TITN Titan Machinery acquires dealership Hubbard Implement, Inc. (15.01 +0.12)
Co announced that it has entered into a purchase agreement to acquire Hubbard Implement, Inc., a Case IH brand agriculture equipment dealership located in Iowa Falls, Iowa. The acquisition is expected to close on or around June 1, 2010. Hubbard Implement, Inc. is well-situated in the fertile farmland in Central Iowa and is strategically located contiguous to Titan Machinery's existing locations in Grundy Center and Waverly, Iowa. In its most recently reported fiscal year, Hubbard Implement generated revenues of approximately $7.9 million.
15:50
Conferences and Shareholder/Analyst Meetings of Interest
Events of interest for tomorrow, April 15, include: GYMB, DBRN, PENN, DRI at Telsey Advisory Group Consumer Conference; LEN Shareholders Meeting; TXN Shareholders Meeting. Fed/Treasury: Fed's Lacker; Fed's Bullard; Fed's Lockhart; Fed's Lacker; Fed's Yellen.
15:50
XSD Late day global & sector ETF movers... Semis strongest & VIX weakest plays -Technical-
The Actively Traded Leading Global & Sector ETF Plays:
semis- XSD +4.25%, IGW +4.0%, SMH +4.0%, iShares Singapore- EWS +4.0%, homebuilders & home construction- ITB +3.50%, XHB +3.0%, commercial banks- KBE +3.25%, regional banks- KRE +3.0%, RKH +2.75%, oil HLDRS- OIH +2.50%, iShares transports- IYT +2.50%, financials- XLF +2.50%, IYF +2.25%, iShares S Korea- EWY +2.50%, global shippers- SEA +2.50%, insurers- KIE +2.50%, Russia- RSX +2.25%, SPDRS retailers- XRT +2.25%
The Actively Traded Lagging Global & Sector ETF Plays:
VIX vol index- VXX -2.75%, healthcare providers- IHF -1.25%, XLV -0.50%, IYH -0.50%, pharma HLDRS- PPH -0.75%, US bonds- TLT -0.50%, AGG -0.25%, livestock commods- COW -0.50%, US Dollar index- UUP -0.50%, iShares REITS - ICF -0.50%, ag/chem- MOO -0.25%
15:45
Earnings Calendar
Today after the close look for the following companies to report: JBHT, LSTR, and YUM. Tomorrow before the open look for the following companies to report: CBSH, FCS, PPG, and TITN.
15:40
DAI Daimler shareholders approve board of management remuneration (50.34 +1.40) -Update-
Co's shareholders approved the system of remuneration for the members of the Board of Management. The Annual Meeting also authorized the Board of Management to issue convertible bonds and/or bonds with warrants with a total face value of up to euro 10 bln and to create a new Conditional Capital 2010 of euro 500 mln arising from those convertible bonds and/or bonds with warrants.
15:37
GAIN Gladstone Investment announces 2-yr renewal on credit facility (6.87 +0.42)
Co announced that on April 13, 2010, it entered into a third amended and restated credit agreement through its wholly-owned subsidiary Gladstone Business Investment LLC providing for a $50 mln revolving line of credit arranged by Branch Banking and Trust Company as administrative agent. Key Equipment Finance Inc. also joined the Credit Facility as a committed lender. Subject to certain terms and conditions, the Credit Facility may be expanded up to $125 mln through the addition of other committed lenders to the facility. The Credit Facility matures on April 13, 2012, and if it is not renewed or extended by the Maturity Date, all principal and interest will be due and payable on or before April 13, 2013. Advances under the Credit Facility will generally bear interest at the 30 day LIBOR rate, plus 4.5% per annum, with an unused fee of 0.50% to 1.00% based on advances outstanding.
15:31
QQQQ Nasdaq Comp +33.98 tags 2500 for the first time since June 6, 2008 -Technical-
15:06
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX ) -Update-
May corn closed higher by 5.5 cents to $3.58 per bushel, May soybeans closed higher by 1 cents at $9.69 per bushel, May wheat closed 1.25 cents lower at $4.7475 per bushel, June ethanol closed higher by $0.017 cents at $1.561, May world sugar futures closed 0.55 cents higher to 17.53 cents.
14:57
MRVL NASDAQ 100 (NDX0 leaders & laggards moving into today's final hour of trading-- Semis continue to lead -Technical-
NDX 100 Best % Performers:
MRVL +7.50%, SNDK +5.75%, STX +5.25%, DELL +5.25%, LLTC +5.0%, MXIM +4.50%, AMAT +3.75%, KLAC +3.75%, FSLR +3.75%, MCHP +3.50%, ISRG +3.50%
NDX 100 Worst % Performers:
TEVA -3.50%, ESRX -2.25%, MYL -2.25%, CELG -2.0%, WYNN -2.0%, MAT -1.75%, ATVI -1.50%, APOL -1.50%, SRCL -1.0%, MICC -1.0%, GILD -1.0%
NASDAQ TRIN @ +0.45
NASDASQ A/D @ +1385
14:54
JPM Dow 30 (INDU) leaders & laggards moving into today's final hour of trading-- Financials & Semis continue to lead -Technical-
INDU 30 Best % Performers:
JPM +4.0%, BAC +3.50%, AXP +3.50%, INTC +3.0%, GE +2.0%, HD +1.75%, CSCO +1.50%
INDU 30 Worst % Performers:
MRK -1.75%, VZ -1.0%, PFE -0.75%, JNJ -0.50%, KO -0.50%, T -0.50%
NYSE TRIN @ +0.80
NYSE A/D @ +1455
14:47
COMDX NYMEX Energy Closing Prices
Crude oil settled up $1.79 to $85.84, natural gas finished higher by 3.6 cents to $2.244, heating oil closed up 2.98 cents to $2.244 and RBOB gasoline gained 2.5 cents to end at $2.3343 (all May contracts).
14:46
LLTC Linear Tech edges slightly above its previous 52-wk high from Jan at 31.21 -- session high 31.24 (31.20 +1.55) -Update- -Technical-
14:41
TECHX Dow leading the afternoon push to new session & 52 week highs in the major indices -Technical-
Leadership remains in place from JPM, BAC, AXP, & INTC.
INDU +86
SPX +10.75
COMPQ +32.50
13:47
SPY Minor slippage off the new 52-wk highs in recent trade -Update- -Technical-
Noted resistances at 2493/2506 Nasdaq (session high 2498), 1207/1208 S&P (session high 1207.58) and 11070/11085 Dow (session high 11092) in The Technical Take and have seen a test and minor slip in recent trade. Relative weakness as the Dollar Index attempts to stabilize near the early week low (see 12:00 update for chart) has been noted in Materials XLB, Gold Miners GDX, Ag/Chem MOO, Energy XLE / OIH along with Reg Bank RKH, REITs IYR, Solar TAN.
13:31
COMDX COMEX Metals Closing Prices
June gold ended higher by $5.70 to $1159.10, May silver finished up 24.1 cents to $18.49 and May copper gained a penny to close at $3.6105.
13:29
JOYG Joy Global pushing back toward its morning/session high at 62.75, its 52-wk peak from Monday is at 62.92 (62.69 +1.44) -Technical-
13:21
XLV Lagging Healthcare SPDR stabilizes near its 50-day sma at 31.76 -- session low 31.79 (31.83 -0.19) -Technical-
Range trade has dominated following the morning slide to 31.79 which has held on a retest in recent trade -- ABT, AMGN, LLY, JNJ, MDT, MRK, PFE, UNH, WLP, WYE, BMY, GILD.
13:11
CHRW C.H. Robinson sets new session high of 57.59, hovering just under this week's high and the March peak at 57.61/57.68 (57.57 +0.98) -Technical-
13:08
CSCO Cisco Systems test/vacillating near its March/previous 52-wk high at 25.85 -- session high 26.87 (26.85 +0.41) -Technical-
12:58
SMH Top performing Semiconductor Hldrs test/pause near 30.00 psych level -- session high 30.00 (29.91 +0.93) -Technical-
12:46
SHLD Sears Hldg edges slightly above its 52-wk close high from March at 109.74 (109.86 +3.4) -Technical-
Short term levels of interest above are at 110.45/110.55 and 111.00 prior to the March/52-wk intraday high at 111.50.
12:45
EWS Midday global & sector ETF movers... Singapore & Semis still lead -Technical-
The Actively Traded Leading Global & Sector ETF Plays:
iShares Singapore- EWS +3.75%, semis- XSD +3.50%, IGW +3.50%, SMH +3.50%, commercial banks- KBE +2.75%, iShares homebuilders & home construction- ITB +2.75%, regional banks- KRE +2.25%, RKH +2.50%, nat gas- UNG +2.25%, iShares S Korea- EWY +2.25%, oil HLDRS- OIH +2.25%, financials- XLF +2.25%, IYF +2.0%, crude/WTI oil- USO +2.0%, OIL +2.25%
The Actively Traded Lagging Global & Sector ETF Plays:
VIX vol index- VXX -2.75%, healthcare providers- IHF -1.25%, XLV -0.75%, IYH -0.50%, pharma HLDRS- PPH -0.75%, US Dollar index- UUP -0.50%, iShares REITS & real estate- ICF -0.50%, IYR -0.25%, biotech HLDRS- BBH -0.25%, ag/chem- MOO -0.25%
12:31
STX Midday NASDAQ 100 (NDX) leaders & laggards-- Semis still lead -Technical-
Early Afternoon NDX 100 % Gainers:
STX, DELL, SNDK, MRVL, MIXIM, LLTC, AMTA, WCRX, NTAP, KLAC, FSLR, INTC, SHLD
Early Afternoon NDX 100 % Decliners:
ESRX, APOL, MYL, CELG, TEVA, ATVI, MAT, SRCL, BIIB, WYNN, DISH, MICC, VRTX
12:29
SPY New highs for S&P +8.1 and Nasdaq +26, Dow +56 still hovering slightly below -Update- -Technical-
12:29
JPM Midday Dow 30 (INDU) leaders & laggards-- Financials & Tech still lead -Technical-
Early Afternoon % Gainers:
JPM, INTC, BAC, AXP, GE, CSCO, HPQ, MSFT, TRV
Early Afternoon % Decliners:
MRK, VZ, PFE, JNJ, KO, T, PG, XOM
12:17
AOS A.O. Smith entered into a strategic cooperative agreement with Chromagen (56.44 +0.69)
Co has entered into a strategic cooperative agreement with Chromagen, a global manufacturer of solar water heating solutions located in Sha'ar Ha'amakim, Israel, to develop advanced solar technology for water heating applications. Under the terms of the agreement, Chromagen will offer A. O. Smith exclusive marketing and distribution rights of its solar collectors for use in residential and commercial solar water heating systems in the United States and Canada. The two companies also agreed to work cooperatively to design, develop, and market energy-efficient solar products.
12:15
FEED AgFeed Industries announces major hog production complex, which will have an annual production capacity of up to 600,000 hogs (4.71 -0.01)
Co announced that it has agreed to invest in a hog production project in conjunction with Xinyu City in Jiangxi province. The two-year project encompasses the building of 5 western model hog farms, totaling 25,000 sows. The initial phase of the project will encompass an investment of $18 million to build two 5,000 head sow farms, one 200 head boar stud farm and one 2,600 head multiplier facility. Upon completion the first phase of this complex shall have an annual hog production capacity approaching 230,000. Construction for the initial phase will begin in May 2010, with the goal of completing the second phase during 2012. The Xinyu complex will have annual production capacity of up to 600,000 hogs.
12:01
ACPW Active Power to deploy second high effficiency flywheel UPS system to manufacturer (0.81 +0.05)
Co announced it will deploy its second CleanSource 1200 kVA UPS to a industrial customer in Oklahoma. The system will provide power conditioning and protection to the facility's sensitive manufacturing and test equipment. The flywheel based UPS system is anticipated to ship in second quarter 2010 with installation following soon after. The second system will be deployed to support expansion of the current facility, adding to the CleanSource 1200 kVA UPS system already in place since early 2008.
12:00
UUP Dollar Index drops back to weekly low, relative strength in Energy/Commodity -- OIH, XLE, SLX, MOO -Technical-
The Dollar Index gapped lower on Monday but recovered back near its 50-day averages which have been key trend indicators. If failed to work back through these averages as well as other short term resistance with today's decline leaving it back near the weekly low (Click for chart).
11:58
Rumor Round Up
Rumor activity has picked up today following yesterday's muted session. Interactive Data (IDC 33.50 +0.80) spiked early after a rumor circulated the co could be taken over; we note IDC has previously announced it is exploring strategic alternatives. Barnes and Noble (BKS 23.21 +1.22) spiked on price and volume following LBO rumors. Lennar (LEN 18.25 +0.97) traded higher following a rumor that private equity could be interested in the name. LEN calls are seeing interest following takeover chatter and ahead of its shareholder meeting tomorrow Apr 15. So far 16.2K total calls have traded vs 560 puts. Casey's General (CASY 39.41 +0.25) spiked following a rumor that a private equity company has approached the co. We note on 4/9 the co rejected a $36/share offer by Alimentation Couche-Tard. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.
11:56
European Markets Closing Prices: FTSE: 5796.3 +34.6 +0.6%, DAX: 6278.4 +47.6 +0.8%, CAC: 4057.7 +25.7 +0.6%, Spain's IBEX: +0.4%, Portugal's PSI: +0.9%
11:47
RIMM Research In Motion pops higher intraday, eyeing its late March bearish gap near the 73.63/73.97 area (73.44 +0.88) -Technical-
11:47
RIMM Research In Motion announces purchase for cancellation 2.0 million of its outstanding common shares (73.46 +0.87)
Co announced that it has agreed to purchase for cancellation 2.0 million of its outstanding common shares, representing approximately 0.36% of its common shares outstanding at April 5, 2010, pursuant to private agreements between RIM and a non-related third-party financial institution. The purchases were made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission. The common shares repurchased through the private agreements, together with the 3,935,800 million shares that RIM has repurchased through the facilities of the NASDAQ Stock Market since the beginning of April 2010, substantially complete the $1.2 billion share repurchase program announced on November 5, 2009.
11:31
TRMA Trico Marine Services closes asset sale and announces new contract awards worth $25 mln (2.36 +0.08)
Co announced the sale of one of its North Sea class vessels for ~$16 mln to a buyer in Asia, bringing the total in asset sale proceeds since the beginning of the year to ~$20 mln. The co expects to use the proceeds to service debt obligations. In addition, the co announced new contract awards representing over $25 mln in value relating to new subsea contract awards for projects in the North Sea.
11:30
COMDX New lows in dollar index helping crude, gold and silver all push higher
Crude oil is currently up $1.74 to $85.79. Gold is higher by $7.760 to $1161.00 and silver is up 22.6 cents to $18.475.
11:28
COP ConocoPhillips: General Compression signs agreement with ConocoPhillips to develop Compressed Air Energy storage projects (56.48 +0.81)
General Compression a company developing an innovative compressed air energy storage system, today announced it has signed an agreement with ConocoPhillips (COP) of Houston, Texas, to develop compressed air energy storage projects, beginning with a pilot project in Texas, using General Compression's Advanced Energy Storage technology. "General Compression is extremely pleased to have ConocoPhillips as a development partner. ConocoPhillips is a global leader in energy and has a clear commitment to bringing new technology and innovation to projects. We are excited to build transformative energy projects that will increase the dependability of renewables for wholesale electricity customers." GC and ConocoPhillips are evaluating a multiple-phase pilot project in Texas that would incorporate GCAES technology with wind energy, underground air storage and power sales.
11:14
HNP Huaneng Power announces power generation increases 40.06% in Q1 of 2010 (23.89 +0.21)
Co announces its power generation in the first quarter of 2010. According to the co's preliminary statistics, as of 31 March 2010, the co's total domestic power generation within China on consolidated basis amounted to 58.578 billion kWh, representing an increase of 40.06% over the same period last year. The accumulated power generation of Tuas Power Limited in Singapore in the first quarter of 2010 accounted for 24.5% of the market share, representing an increase of 2.1 percentage points as compared to 22.4% of the same period last year.
11:03
VZ Verizon still in the red but edges slightly off low after flirting with its 50-day sma at 29.73 -- session low 29.65 (29.77 -0.30) -Technical-
The stock is down is down for the sixth session out of the last seven with the drop off the early month high reaching 6.5% this morning. Thus far it has stabilized near its 50-day sma and the 62% retracement of the Feb-April run (29.73-29.61).
10:59
TROW T. Rowe Price stockholders reelect all 9 board members up for nomination, also re-appoints KPMG as co's auditor (57.28 +0.12)
10:45
IYR iShares DJ Real Estate recent relative strength leader slips slightly into the red (52.50 -0.12) -Technical-
Strong performance yesterday (following the early month upside breakout) was extended off the open to a fresh 52-wk high but it has slipped back into the red in recent action this morning -- CPT -1.2%, PCL -0.8%, KIM -0.7% ,MAC -0.6%, VNO -0.5%, PSA -0.5%, PLD -0.4%, BXP -0.3%, SPG -0.35, EQ -0.3%.
10:45
EWS 1st hour global & sector ETF movers... Singapore & Semis strongest & VIX weakest plays -Technical-
The Actively Traded Leading Global & Sector ETF Plays:
iShares Singapore- EWS +3.50%, semis- SMH +2.75%, IGW +2.50%, XSD +2.50%, commercial banks- KBE +2.25%, iShares S Korea- EWY +2.0%, regional banks- KRE +1.75%, RKH +1.75%, iShares homebuilders & home construction- ITB +1.50%, airliners- FAA +1.50%, global shippers- SEA +1.50%, iShares transports- IYT +1.50%, Russia- RSX +1.50%
The Actively Traded Lagging Global & Sector ETF Plays:
VIX vol index- VXX -2.0%, healthcare providers- IHF -1.0%, XLV -0.50%, IYH -0.50%, pharma HLDRS- PPH -0.50%, iShares REITS & real estate- ICF -0.50%, IYR -0.25%, US bonds- TLT -0.50%, ag/chem- MOO -0.50%, Yen currency shares- FXY -0.25%
10:34
INTC Intel extends slide off morning high of 23.69 (23.30 +0.53) -Update- -Technical-
Initial intraday support is at 23.27/23.16 followed by 23.03/22.95.
10:30
OIH Crude oil ticks up towards $85 following inventory data; currently up 82 cents to $84.87
10:30
PTI Patni Computer Sys awarded contract to develop ATA Aviation Marketplace for Air Transport Association of America (25.62 +0.13)
10:30
SPY S&P 500 check please -Update- -Technical-
The index +4.77 broke above the recent high/psych level off the open and after an extension to 1204.22 it checked back to this support/breakout point (hit 1199.86) and is attempting to push higher again.
10:28
SNDK 1st hour NASDAQ 100 (NDX) leaders & laggards-- Semis lead -Technical-
NDX 100 Best % Performers:
SNDK +6.50%, MRVL +4.50%, DELL +4.25%, STX +3.75%, WCRX +3.50%, LLTC +3.50%, ISRG +3.0%, BRCM +2.75%, INTC +2.50%, AMZN +2.75%, MXIM +2.50%
NDX 100 Worst % Performers:
APOL -2.50%, CELG -1.75%, ESRX -1.75%, COST -1.50%, SRCL -1.50%, MYL -1.50%, DISH -1.25%, MICC -1.25%, SBUX -1.0%, RIMM -1.0%, TEVA -0.75%
NASDAQ TRIN @ +0.40
NASDAQ A/D @ +935
10:26
UNH Healthcare -HMO- continues to display relative weakness -Technical-
The HMO has been steadily retreating with it currently down for the second day in a row and for the fifth out of the last six. Today's extension has brought it back under its 50-day ema and near chart support in the 1505 to 1487 zone (lower Bollinger Band, 50% retrace of Feb-March rally, 50-day sma -- session low 1502). UNH -2.3%, tested its Feb low and the 38% retracement of the Oct-Jan rally at 31.39/31.26 (session low 31.23) and is attempting to lift. WLP -1.5%, MOH -0.8%, AET -1.4% (hold near its 50-day sma), CI -1.2% (hold near its 50-day sma), CVH -1%, HNT -2.2%, HUM -1.9% (session low 43.05, 200 ema at 42.55), WCG -1.4%.
10:25
INTC 1st hour Dow 30 (INDU) leaders & laggards-- Semis & Financials lead -Technical-
INDU 30 Best % Performers:
INTC +3.0%, JPM +3.0%, BAC +2.0%, AXP +1.75%, MSFT +1.50%, GE +1.0%
INDU 30 Worst % Performers:
MRK -1.50%, PFE -1.0%, VZ -1.0%, AA -0.75%, KO -0.50%, T -0.50%, JNJ -0.50%
NYSE TRIN @ +0.70
NYSE A/D @ +880
10:24
VLY Valley National declares a 5% stock dividend payble May 21, to shareholders of record on May 7 (16.18 +0.05)
10:23
COIN Converted Organics announces odor litigation against Converted Organics' Woodbridge plant withdrawn (1.01 -0.03)
Co announces that the lawsuit filed in the Middlesex County Superior Court, New Jersey on May 19, 2009 that made claims against operations at its Woodbridge, NJ manufacturing facility, has been dismissed by plaintiff Lefcourt Associates, Ltd, et al. The complaint had sought to halt any operations that would continue to cause or contribute to the cause of the alleged odors.
10:21
TNP Tsakos Energy announces the delivery and charter of Aframax Tanker Sapporo Princess, recording a capital gain of $6.2 mln will be recorded in Q2 (16.15 +0.23)
Co announced the delivery and charter of DNA-aframax tanker Sapporo Princess from Sumitomo Heavy Industries in Japan, the penultimate newbuilding in a series of eight ordered in 2004. The vessel was placed on an up to four month time-charter to a major international oil trader. The Sapporo Princess will replace the 2003-built conventional aframax tanker Marathon which will be delivered to its new owners at the end of next week. The $6.2 million capital gain from this sale will be recorded in the second quarter of this year. Furthermore, the Company announced the sale of the 1991-built panamax tanker Hesnes to an independent third party. The vessel was one of the three vessels "held for sale" as announced in the Company's March 17, 2010 earnings press release.
10:15
GBG Great Basin Gold provides operational update for the quarter ended March 2010 (1.73 0.00)
Co provided a quarterly operational update for its Hollister and Burnstone projects. Continued trial mining at the Hollister project resulted in the extraction of 25,777 ore tons containing an estimated 27,707 gold equivalent ounces at a grade of 1.07 oz per ton Au eqv. This is a 40% improvement on the previous quarter. Progress has also been made with 2,270 ft of underground development completed, with 1,149 ft being in ore and 1,121 ft in waste development. This is an improvement of 58% over the 961 ft and 479 ft reported respectively for the Dec 2009 quarter. Underground exploration and stope delineation drilling has continued. In total, 32 stope-delineation boreholes and 9 exploration and cover boreholes were completed. Highlights include: - further delineation of the North Clementine vein zone, where 8 separate vein intersections were achieved and the strike extent of the zone has been extended to 500 ft; - further extension of the main Clementine vein zone to the west; and - continued indications of the development of the Gwenivere vein system at depth.
10:10
RNN Rexahn Pharmaceuticals issues additional comments and clarifications on its Phase IIa study results of Serdaxin (1.81 +0.05) -Update-
Co offered additional commentary, clarifications and insights on yesterday's announcement of its Phase IIa clinical results of Serdaxin(R) in the treatment of major depressive disorder (MDD). The study showed that patients with severe MDD taking 5 mg of Serdaxin (55.6%) had statistically significant improvement in Montgomery-Asberg Depression Rating Scale (MADRS) scores after 8 weeks of treatment, compared to placebo (34.0%).
10:07
MOS Mosaic attempting to stabilize above its 200-day sma (55.07 -1.71) -Update- -Technical-
Relative weakness amid a downgrade in the Ag/Chem sector this morning with its dropping as much as 3.4%. Thus far it is attempting to stabilize above its 200 day sma at 54.58 (session low 54.82).
10:06
SDIX Strategic Diagnostics entered into an exclusive partnership with Novus Biologicals (1.99 +0.05)
Novus Biologicals and SDIX entered into an exclusive partnership for the creation and dissemination of premade Genomic Antibody Technology polyclonal antibodies. Initial commercial efforts will focus on Novus' dissemination of over 800 antibodies from SDIX's premade collection of cancer antigen polyclonal antibodies and the creation of additional novel antibodies through the application of GAT to targets selected by Novus for inclusion in Novus' catalog offering.
10:03
NXG Northgate Minerals & Nevada Exploration sign letter of intent on the awakening gold project, Nevada (3.03 0.00)
Co & Nevada Exploration have signed a non-binding Letter of Intent, whereby Northgate may earn a joint venture interest in NGE's Awakening Gold Project. Under the terms of the LOI, Northgate will have the option to earn a 51% interest in the Property by funding $4,100,000USD in qualifying expenditures and making $435,000USD in cash payments over 5 years. A cash payment of $87,000USD is due upon the signing of a definitive agreement, and the Year 1 work commitment of $500,000USD is a firm obligation. If Northgate completes the initial 51% earn-in, Northgate may earn an additional 14%, for a total of 65%, by completing a feasibility report. Once NGE and Northgate complete a definitive agreement, the companies will issue a further news release with additional details.
10:02
RNN Rexahn Pharmaceuticals issues additional comments and clarifications on its phase IIa study results of serdaxin in major depressive disorder (1.91 +0.15) -Update-
Co offered additional commentary, clarifications and insights on yesterday's announcement of its Phase IIa clinical results of Serdaxin in the treatment of major depressive disorder. "Based on the feedback and reaction from our shareholders, stakeholders and other market participants, it is clear that neither the purpose of the Serdaxin trial or its results were well understood," said Dr. Chang Ahn, Chief Executive Officer of Rexahn. "The purpose of the Serdaxin Phase IIa trial was to establish as a proof of concept that Serdaxin can work as an antidepressant drug for patients suffering from Major Depressive Disorder. I am happy to say that this is exactly what the study accomplished. The trial results unambiguously reach the conclusion that patients, especially those suffering from severe depression, respond positively to Serdaxin," said Dr. Ahn. The study showed that patients with severe MDD taking 5 mg of Serdaxin (55.6%) had statistically significant improvement in Montgomery-Asberg Depression Rating Scale (MADRS) scores after 8 weeks of treatment, compared to placebo (34.0%). Dr. Ahn added, "Some market participants have asked us why our overall trial results were not statistically significant. The answer is simply that the Serdaxin study was never designed to achieve statistical significance as a primary objective, but rather to establish a positive signal among treated patients. This is exactly what the trial succeeded in accomplishing."
10:01
EXK Endeavour Silver reports silver production in Q1, 2010 Compared to Q1 2009; Produces 766,210 oz silver (Up 34%) and 3,775 oz Gold (Up 62%) (3.68 +0.12)
Co announced that silver production for Q1, 2010 from the co's two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, totalled 766,210 ounces (oz) silver, up 34% compared to Q1, 2009. Gold production also rose in the Q1, 2010, up 62% to 3,775 oz compared to Q1, 2009, resulting in silver-equivalent production rising to 1,011,569 oz.
10:00
POT Potash moves lower aggressively here as price probes beneath 200-day EMA support (108.33 ) -Update- -Technical-
09:51
ETN Eaton wins USAF power reliability contract, worth as much as $568.7 mln, divided among two suppliers, over 5 years (18.59 +0.20)
Co announced that it has been awarded a contract to provide the USAF, at the Hill Air Force Base, Utah, power reliability products and complete turnkey services including engineering, project management, system integration, installation, training and onsite maintenance services. The win could be worth as much as $568.7 mln and will be divided among two suppliers over the life of the five-year contract with one single two-year option period. Eaton's Electrical Service & Systems Division's Federal Systems Business Unit will manage the work for the contract.
09:51
LTD Limited announced today next steps for its international strategy, creating Limited Brands Canada (27.14 -0.04)
The co announces next steps for its international strategy. Limited Brands is creating Limited Brands Canada, a Montreal-based company that will support all Limited Brands retail stores and strategic expansion in Canada, including La Senza, Bath and Body Works, Victoria's Secret Pink and Victoria's Secret (launching later this year). In addition to her current role as president of La Senza, Joanne Nemeroff has been named president of Limited Brands Canada. Additionally, the company will consolidate the creative and merchant leadership of its international businesses to the Limited Brands World Headquarters in Columbus, Ohio, to better support customers and associates. As a result, La Senza's creative and merchandising functions will relocate to Columbus. This structure will better connect La Senza to enterprise resources and support its advances in product, store experience and brand position.
09:51
SPY New highs for stock indices -- Dow +47, S&P +6, Nasdaq +21 -Update- -Technical-
Relative sector strength on this move (outperforming the S&P) has been noted in Finance XLF / RKH, Semi SMH, Shipping SEA, Rail, Airline, Housing XHB, Retail XRT.
09:47
MRK Relative Weakness in Drug in early trade -- MRK -0.9%, PFE -0.7%, PPH -0.47 -Technical-
The sector has headed south off the open with MRK pulling back toward but still holding above support at its March low and the five month close low from Feb at 36.10/36.20 (session low 36.32).
09:46
ECONX Reminder: Business Inventories data due out in about 14 min at 10:00ET
09:41
SPY S&P 500 breaks above the 1200 level, pauses near first level resistance at 1203 -Update- -Technical-
Noted the top of a resistance zone at 1203 in The Technical Take and have seen the index quickly run to this area (session high 1202.79). First level resistance for the Nasdaq Comp (2473/2485) has thus far held as well (session high 2484.64). A drift near the highs reflects no pressure with secondary resistances at 2493/2506 and 1207/1208.
09:36
JPM JP Morgan Chase gaps up after earnings tests its 52-wk high from Oct at 47.47 -- session high 47.41 (47.25 +1.39) -Update- -Technical-
09:32
POT Relative weakness in Ag/Chem in early trade following broker downgrade -- POT -2.8%, MOS -2.5%, CF -1.3%, AGU -1.1%, IPI -0.5% -Update- -Technical-
09:32
AMZN Amazon.com the early laggard of the top 5 widely watched NDX 100 components (139.53 -.63) -Technical-
AAPL, BIDU, GOOG, & RIMM all positive @ the open.
09:29
API Advanced Photonix, Inc. adds second shift for hybrid assembly of its 40G product lines to meet industry demand (0.54 )
09:20
GGP Gen Growth Prop: Simon Properties confirms offer to invest $2.5 bln in General Growth reorganization plan at same per share price as existing Brookfield-sponsored proposal (88.18 ) -Update-
Simon Property Group (SPG) sent a letter to GGP offering to invest $2.5 billion in a General Growth reorganization at the same per share price as the plan of reorganization sponsored by Brookfield Asset Management. SPG's proposal is substantially more favorable to GGP and its equityholders than the currently proposed plan of reorganization because it would eliminate the highly dilutive warrants that GGP proposes to issue to Brookfield, Pershing Square and Fairholme Capital. SPG's proposal also includes a $1 billion co-investment commitment by Paulson & Co. "This will formally confirm that Simon Property Group is prepared to participate in the recapitalization of General Growth Properties in the same format as the proposed plan of reorganization sponsored by Brookfield Asset Management, but on a basis very substantially more favorable to GGP and its equityholders. Simon would acquire 250,000,000 shares of common stock in GGP for $2.5 billion in the aggregate, or $10.00 per share, the same amount as Brookfield would acquire, at the same price, pursuant to its Cornerstone Investment Agreement... There will be no financing condition whatsoever to Simon's obligations to close the transaction. Simon, which has an equity market capitalization in excess of $27 billion, $3.5 billion of available cash on its balance sheet, and $3.3 billion of available borrowing capacity under its revolving credit facility, and would be fully and immediately responsible for its commitment and backstop obligations, in distinction to Brookfield, which does not seem to have yet delivered an equity commitment to the shell subsidiary with which GGP contracted and seems to be entirely free to walk away from the agreed deal. Simon's investment would not be contingent on any vote of Simon shareholders, and Simon will not require any commitment or other fee in respect of its equity investment commitment in the recapitalization of GGP."
09:17
ABX Barrick Gold Corporation: US Court allows continued mining at Cortez Hills (40.43 )
Co announced a U.S. District Court April 13 decision that mining operations can continue at its Cortez Hills Mine while the Bureau of Land Management (BLM) completes a study of three aspects of the project identified in a 2009 ruling by the United States 9th Circuit Court of Appeals. Barrick's Cortez operations are expected to produce about 1.08-1.12 mln ounces of gold in 2010. The Company as a whole continues to anticipate production of 7.6-8.0 mln ounces at total cash costs of $425-$455 per ounce.
09:17
S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +11.00.
Stock futures point to a strong start, which would extend the stock market's recent run of gains -- the S&P 500 has advanced in seven of the past eight sessions to set new 52-week highs. The latest push comes on the back of impressive earnings and upbeat data. More specifically, both Intel (INTC) and JPMorgan Chase (JPM) posted better-than-expected earnings on better-than-expected revenue. Intel even went one step further with its upside forecast. As for data, advance retail sales for March topped the consensus call with a 1.6% increase and sales less autos were stronger than expected with a 0.6% increase while sales for the prior month were also revised higher. Meanwhile, there were no surprises in the latest dose of consumer prices. The soft consumer price figures have helped keep a cap on the dollar, which is currently down fractionally against a basket of major foreign currencies.
09:16
PNSN Penson Worldwide Announces Austock Signs Long-Term Clearing Agreement (10.16 )
Co announces that its Australian subsidiary, Penson Financial Services Australia, has signed a 5-year exclusive agreement to provide clearing services for equities and exchange traded options for Austock Securities.
09:06
On The Wires
DemandTec (DMAN) announced that Groupe Casino, a leading European retailer based in France, renewed its agreement for DemandTec's Everyday Price Optimization and Everyday Price Management software services, components of the DemandTec Lifecycle Price Optimization solution... Airgas, Inc. (ARG) announced it has signed a five-year services agreement with the University of Pennsylvania Health System located in Philadelphia, PA. Under the terms of the agreement, Airgas provides off-site cryogenic repository services for long-term storage of research samples... Middlebury College and K12 (LRN) announced an agreement to form a new venture that will online language programs for pre-college students... Gaming Partners International Corporation (GPIC) announced that it has completed the delivery of its initial order for casino currency for Singapore's first integrated resort and casino, Resorts World Sentosa... TSYS (TSS) Acquiring Solutions announced the signing of an agreement to provide authorization and capture services to Central Payment. The agreement enables Central Payment to leverage TSYS' flexible and efficient technology, and benefit from a wide array of cost-saving and revenue-generating products and services. Central Payment is currently boarding more than 1,700 merchants a month through TSYS.
09:04
ACAD ACADIA Pharmaceuticals announces Dr. Friedman will present additional data demonstrating that pimavanserin was safe and well tolerated (1.76 )
Co announced that Joseph H. Friedman, MD, will present data from ACAD's previously reported Phase III trial (the -012 Study) with pimavanserin for Parkinson's disease psychosis (PDP) at the 62nd American Academy of Neurology Annual Meeting on April 14, 2010 in Toronto, Canada. In an oral presentation entitled "A multi-center, placebo-controlled, double-blind trial to examine the safety and efficacy of pimavanserin in the treatment of psychosis in Parkinson's disease," Dr. Friedman will discuss data from the trial in which two doses of pimavanserin, 10 mg and 40 mg, were tested against placebo. As previously reported, all study arms showed marked improvements in mean SAPS scores but neither of the active arms showed a statistically significant separation from placebo at the end of the six-week treatment period. Although statistical significance was not achieved for the primary endpoint, the 40 mg pimavanserin arm consistently demonstrated signals of efficacy across a number of measures including the SAPS, CGI-I, SCOPA nighttime sleep measure, and caregiver burden scale. As previously reported, the study met its key secondary endpoint of motoric tolerability as measured using the Unified Parkinson's Disease Rating Scale, or UPDRS, and Dr. Friedman will present additional data demonstrating that pimavanserin was safe and well tolerated with the frequency of adverse events generally similar in the pimavanserin and placebo arms. "The Phase III data from the -012 Study support the safety and tolerability of pimavanserin in patients suffering from PDP and we are optimistic that the design of the ACP-103-020 study will reduce the placebo response and help ensure that the primary endpoint of antipsychotic efficacy will be reached."
09:02
Guanwei Recycling to begin trading on NASDAQ, effective April 15, 2010
Shares will trade under symbol "GPRC".
08:56
CKSW ClickSoftware files Form F-3 shelf statement providing for sale of up to 15.0 mln common shares (7.24 )
08:52
BMR BioMed Realty prices public offering of 11.5 mln shares of common stock at $17.25/share (18.08 )
08:47
MVC MVC Capital renews credit facility for three years (14.17 )
Co announced that Guggenheim Corporate Funding, LLC has renewed its secured term credit facility for three years. The Fund's prior $100 million credit facility with Guggenheim, consisting of $50 million in term debt and $50 million in revolving credit, was due to expire in April 2010. The new $50 million facility, which will expire in April 2013, has an interest rate of LIBOR plus 450 basis points with a 1.25% LIBOR floor. It is anticipated that the Facility will be used for new investment opportunities, to support the existing portfolio, and for general corporate purposes.
08:45
CKP Checkpoint Systems division OATSystems announces three-year contract extension with Airbus (22.69 )
Co announced here at RFID Journal Live that Airbus has extended its contract for OATSystems' expert Auto-ID & RFID software services for an additional three years. In what was noted at the time to be the manufacturing industry's single largest RFID software transaction to date, Airbus selected OATSystems and partners in early 2008 to provide a multi-million dollar, multi-year Auto-ID software platform In parallel, Airbus also entered into an initial two-year service contract with OATSystems to deploy its software platform, which is part of the Airbus Auto-ID standard corporate architecture. During this time, OATSystems has delivered variety of solutions to help Airbus streamline operations across supply chain, manufacturing and assembly domains.
08:36
ICE IntercontinentalExchange says ICE Futures Europe sets daily volume and WTI crude futures records (108.92 )
Co announces that ICE Futures Europe set an exchange-wide daily volume record of 1,399,536 contracts on April 13. The new record was established on the exchange's fifth consecutive million-plus volume day and surpassed by 4% the previous daily record of 1,340,588 contracts, which was set on February 5, 2010.
08:31
DCAI Dialysis Corp. of America to be aquired by U.S. Renal Care for $11.25/share (6.52 ) -Update-
Co and U.S. Renal Care announced that they have entered into a definitive merger agreement for USRC to acquire DCA. Under the terms of the agreement, USRC, through a subsidiary, will commence a tender offer for all of the outstanding common shares of DCA for $11.25 per share in cash, followed by a merger to acquire all remaining outstanding DCA shares at the same cash price paid in the tender offer. The offer price represents a premium of ~72% over yesterday's closing stock price. The transaction is valued at ~$112 mln....(Stock is Halted)
08:31
GENZ Genzyme reports "significant" percentage of MS patients receiving alemtuzumab in Genzyme's Phase 2 trial remain free of clinically-active disease (52.43 )
The co reports four-year follow-up data from its completed Phase 2 multiple sclerosis (MS) trial showing an estimated 71 percent of alemtuzumab treated patients remain free of clinically-active disease as much as three years after most patients received their last course of the investigational compound. The data were presented at the American Academy of Neurology annual meeting. The CAMMS223 Phase 2 trial, first reported in the New England Journal of Medicine in 2008, compared alemtuzumab to the approved MS therapy Rebif(R) (interferon beta-1a) in early, active, relapsing-remitting multiple sclerosis (RRMS) patients who had received no prior therapy. In the trial, alemtuzumab was given to patients in two or three annual cycles of not more than five days per cycle, while Rebif was given to patients three times per week, every week for three years.
08:31
SPY E~mini index futures uptick to new YTD & 52 week highs following key Mar. econ. data -Technical-
S&P 500 (ES) +6.75
NDX 100 (NQ) +13.75
INDU 30 (YM) +52
08:30
AAPL Apple says iPad demand is far higher than co predicted and will likely continue to exceed its supply over the next several weeks (242.43 )
The co says "Although we have delivered more than 500,000 iPads during its first week, demand is far higher than we predicted and will likely continue to exceed our supply over the next several weeks as more people see and touch an iPad. We have also taken a large number of pre-orders for iPad 3G models for delivery by the end of April. Faced with this surprisingly strong US demand, we have made the difficult decision to postpone the international launch of iPad by one month, until the end of May. We will announce international pricing and begin taking online pre-orders on Monday, May 10. We know that many international customers waiting to buy an iPad will be disappointed by this news, but we hope they will be pleased to learn the reason--the iPad is a runaway success in the US thus far."
08:30
CXW Corrections Corp wins two new management contracts and maintains management of one existing contract in Florida (20.52 )
Co announced that pursuant to a re-bid of the management contracts at four Florida facilities, two of which are currently managed by CCA, the Florida Department of Management Services has indicated its intent to award CCA the continued management of the 985-bed Bay Correctional Facility, in Panama City, Florida. Additionally, the Florida DMS has indicated its intent to award CCA management of the 985-bed Moore Haven Correctional Facility in Moore Haven, Florida and the 1,884-bed Graceville Correctional Facility in Graceville, Florida. However, CCA was not selected for the continued management of the 1,520-bed Gadsden Correctional Facility in Quincy, Florida.
08:29
DCAI Dialysis Corp. of America trading halted - news pending (6.52 )
08:28
PGR Progressive beats by $0.05, beats on revs (19.47 )
Reports Q1 (Mar) earnings of $0.44 per share, $0.05 better than the Thomson Reuters consensus of $0.39; revenues rose 7.2% year/year to $3.78 bln vs the $3.69 bln consensus.
08:16
On The Wires
Gasco (GSX) announced it has commenced its up-hole recompletion program in early February 2010. Since that time, it has successfully completed the initial stages on one Upper Mancos well and recompleted four wells. Gasco has dramatically reduced its completion costs. Completion costs were an estimated $125,000 to $150,000 per stage. Current per-stage fracture stimulation costs are now under $50,000... 3PAR (PAR) announced that it has launched its first sales office in China and named David Lu as country manager, based in Beijing... Aerojet, a GenCorp (GY) company, announced that NASA Glenn Research Center has awarded the co a five-year Indefinite-Delivery, Indefinite-Quantity contract to provide NASA with its space propulsion system technologies, including cryogenic and electric propulsion for spacecraft. Aerojet is one of five companies to be awarded a contract potentially worth up to $50 mln to support NASA's research and technology activities... BIOLASE (BLTI) announced that it was awarded a new patent, based on a patent application that was filed in 2007, for technology that is utilized in the ezlase and iLase diode lasers... North American Palladium (PAL) announced that it has restarted palladium production at its flagship Lac des Iles mine in northwestern Ontario. On an annualized basis, NAP expects to produce 140,000 ounces of palladium per year... Harris Corporation (HRS) announced it has successfully completed site acceptance testing with North Atlantic Treaty Organization forces to deliver critical, air traffic control communications for a new tower here Afghanistan... Agilysys (AGYS) announced it has signed an agreement to become an authorized AegisUSA Reseller Partner. As an AegisUSA partner, Agilysys will now be able to provide customers with AegisUSA's Identity and Access Management products and services.
08:11
ECONX Reminder: CPI and Retail Sales data due out in about 19 min at 8:30ET
08:10
GILT Gilat Satellite to supply a multinational broadband satellite network for lottery in Africa (5.71 )
Co announced that it is providing a multi-million dollar broadband satellite communications network for a large gaming and lottery project in Africa. The new network is being deployed to provide gaming and lottery services to an initial 2,500 sites in several countries in West Africa, including, the Ivory Coast, DRC and Senegal. Subsequent phases will potentially increase the scope of the project to up to 10,000 sites and will include additional countries in the region.
08:02
GEL Genesis Energy raises qtrly distribution 8.9% YoY to $0.3675 (20.16 )
08:02
MAIL Incredimail approved a final cash dividend for 2009 of $0.43 a share in addition to the interim dividend of $0.40 per share already distributed (6.36 )
08:01
CHC China Hydroelectric executes definitive agreement to acquire additional hydroelectric power project in Yunnan Province and provides update on pending acquisitions (8.87 )
Co announced it has signed a definitive agreement to acquire an additional 19 MW hydroelectric power project in Yunnan province of the PRC. In addition, the coannounced it has entered into two memoranda of understanding regarding the acquisition by the coof an additional 18 0 MW of operating hydroelectric assets, 125 MW of projects currently under construction and 341 MW of development rights for new projects. Along with the definitive agreements, these memoranda present the cowith the opportunity to acquire 709 MW of hydroelectric power projects and development rights. The new definitive agreement provides for the coto acquire 100% of the 19 MW Husahe Project, located in Yunnan province in the People's Republic of China, for a purchase price of $15.5 mln (RMB 106 mln). This acquisition, for which the cohad a MOU and which is expected to be consummated shortly, will be financed through cash on hand and a note from the seller which may be refinanced with non-recourse bank debt from a local institution. Previously the cohad announced that it had executed a definitive agreement for the coto acquire 100% of the 44 MW Xiaopengzu Project, also located in Yunnan province, for a purchase price of $57 mln (RMB 390 mln). This acquisition, which the coanticipates consummating within the next 45 days, is expected to be financed through cash on hand and bank financing expected to be provided under the terms of the co's previously announced Loan Framework Agreement with the Bank of China's Fujian Branch.
08:01
EXAS EXACT Sciences prices its 4.2 mln share common stock offering at $4.50/share (4.69 )
08:01
PKI PerkinElmer enters into agreement to acquire Signature Genomic Laboratories (23.74 )
The co announces that it has entered into a definitive agreement to acquire Signature Genomic Laboratories, a diagnostic genetic testing company based in Spokane, Washington. The acquisition is expected to enable PerkinElmer to strengthen its existing genetic testing service business, expand its position in early detection of disease, specifically in the molecular diagnostics market, and provide the company with additional strengths in cancer diagnostics... The transaction is expected to close sometime in May 2010 and is subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
08:01
WPRT Westport Innovations exercise generates $8.4 million in cash for Westport (18.67 )
The co announces that 790,614 warrants previously issued to Industry Canada, a department of the Government of Canada, have been exercised at a price of $10.65 per warrant generating $8.4 million in cash for the company. Each warrant entitled the holder to one common share of Westport. As a result of the exercise of warrants, the total outstanding number of Westport common shares has increased to 39,325,853 from 38,535,239. The warrants were issued to Industry Canada under its former Technology Partnerships Canada (TPC) Program. Under the TPC program, Westport received $18.9 million to support the development of high-performance low-emissions engines for vehicles. Much of that development is now being commercialized through the Westport HD system. TPC funding supported approximately 80 jobs during the work phase of the project, which was successfully concluded on March 31, 2008. Under the terms of the TPC agreement, Westport is also obligated to pay the greater of $1.35 million or 0.33% of annual gross revenues until March 31, 2018. Westport made its first annual payment of $1.35 million in 2009.
08:00
IOC InterOil releases full resources evaluation and well flow test information in an updated presentation at the IPAA investor conference (72.58 )
The co announces that the full report of the independent engineering evaluation prepared by GLJ Petroleum Consultants, who evaluated the contingent resources of the Elk and Antelope fields in Papua New Guinea effective as at December 31, 2009, as well as the presentation that is to be delivered by Mr. Phil Mulacek, Chief Executive Officer, and Mr. Wayne Andrews, V.P. Capital Markets at the Independent Petroleum Association of America's 2010 Oil & Gas Investment Symposium on April 14, 2010, have been posted on InterOil's website. The GLJ Report was prepared in accordance with the definitions and guidelines in the COGE Handbook and National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities (NI 51-101) adopted by Canadian Securities Administrators. InterOil has included in its presentation technical information on the flow tests from both the Antelope-1 and Antelope-2 wells conducted on March 2 and December 1, 2009 respectively. The presentation also includes a summary of the results, in addition to total gas volumes recovered during the tests, total production time over the entire test periods, and the flowing pressures and rates at each choke size.
08:00
POZN POZEN enters into settlement agreement with Teva regarding Paragraph IV patent litigation (10.26 )
The co announces that it has entered into a Settlement Agreement with TEVA to resolve a U.S. patent infringement suit related to Teva's filing of an Abbreviated New Drug Application (ANDA) with the FDA to market a generic version of Treximet (sumatriptan/naproxen sodium) marketed by POZEN's exclusive U.S. licensee, GlaxoSmithKline. Under the terms of the Settlement Agreement, Teva will be dismissed without prejudice from the consolidated litigation currently pending in the United States District Court for the Eastern District of Texas against Teva, Par Pharmaceutical, Alphapharm Pty, and Dr. Reddy's Laboratories, but will agree to be bound by the outcome of such litigation or any resulting settlements with third parties. The parties have also agreed to file a stipulation of dismissal and order with the United States District Court for the Eastern District of Texas which will conclude this litigation with respect to Teva. The settlement does not end the ongoing litigation against the other three defendants. Discovery in the litigation is in process and the case is currently scheduled for trial in the fourth quarter of 2010.
07:51
C Citigroup enters agreement to sell its fund of hedge funds, hedge fund seeding and hedge fund advisory businesses to SkyBridge Capital (4.62 )
Co entered into a definitive agreement to sell the fund of hedge funds, hedge fund seeding and hedge fund advisory businesses to SkyBridge Capital, with total investments under management and advisory of $4.2 bln. These businesses are part of Citi Holdings, the segment which contains Citi's non-core assets and businesses.
07:47
On The Wires
Denny's (DENN) issues a letter to shareholders recommending they vote against three dissident nominees proposed by hedge funds... Itron (ITRI) announced that Azerigas Production Union, dealing with transmission, distribution and sale of natural gas in the territory of Azerbaijan Republic will implement Itron's integrated smart payment solution in the capital city, Baku. Itron will deliver smart payment meters and smart cards, along with Itron's Eclipse Enterprise Edition, the prepayment management software. Deliveries will take place during the coming year, starting in March 2010... Saflex, a business unit of Solutia (SOA), is launching a solar encapsulant that helps increase the efficiency of the solar module while reducing material usage. The new product, called Saflex Radiant White PA27, represents a new class of value-added encapsulants and is based on collaboration between Oerlikon Solar and Saflex to rapidly drive thin film PV technology towards grid parity.
07:45
GEO Geo Group announces results of State of Florida rebids with no impact to GEO's financial guidance (19.08 )
Co announces the results of the rebids of two of its managed-only contracts in the State of Florida. The State of Florida has issued a Notice of Intent to Award contracts for the GEO-managed 1,884-bed Graceville Correctional Facility and 985-bed Moore Haven Correctional Facility to another operator effective August 1, 2010. These two managed-only Facilities generated approximately $39.0 million in annual operating revenues in 2009. The transition of these two managed-only contracts will not have a material impact on GEO's financial performance or its previously issued financial guidance for 2010 (on 2/22, co issued FY10 EPS guidance of $1.36-$1.46 on revs of $1.11-$1.13 bln).
07:32
ONCY Oncolytics Biotech announces reovirus research to be presented at AACR annual meeting (3.11 )
Co announced that abstracts covering both clinical and preclinical research with reovirus are available on the American Association for Cancer Research (AACR) website at www.aacr.org, and on the Oncolytics website at www.oncolyticsbiotech.com. The first abstract, entitled covers correlative results from a Phase 1/2 study with reovirus, sponsored by the National Cancer Institute under its Clinical Trials Agreement with Oncolytics, in patients with ovarian, primary peritoneal and fallopian tube carcinoma. The results provide evidence of viral targeting and replication in peritoneal and ovarian cancer cells after intravenous administration of reovirus to patients. The second abstract, covers work done to better understand the mechanisms associated with the cytotoxic synergies in this combined approach. The investigators concluded that the top three canonical pathways significantly affected by the combination treatment were interferon signaling, antigen presentation and the protein ubiquitination pathways. The third abstract, covers research done in vitro into a novel therapeutic approach for treating patients with colorectal cancer tumors that harbor a mutation in the Kras oncogene that have failed first line therapy. The investigators found that when REOLYSIN was combined with irinotecan, there was evidence of synergistic cytotoxicity in seven of eight tested cell lines and concluded that the combination of REOLYSIN and irinotecan is synergistic in colorectal cancer cell lines, including those with Kras mutation, and is worthy of exploration in human patients. The fourth abstract, covers the utility of reovirus in treating hematological malignancies. The investigators concluded that the sensitivity of reovirus towards multiple myeloma and its lack of effect on human stem cells highlight the potential of reovirus as an ex vivo purging agent during autologous hematopoietic stem cell transplants for multiple myeloma.
07:31
TSYS TeleComm Sys issued U.S. Patent on remote access to intelligent communication network status (7.35 )
Co announced the issuance by the U.S. Patent and Trademark Office of patent number 7,693,981 entitled, "System and Method to Publish Information from Servers to Remote Monitor Devices."
07:31
EPD Enterprise Products announces sale of additional 1.8 mln common units at $35.55/share (35.69 )
Co announced that the underwriters of its recent common unit offering have exercised their full over-allotment option to purchase 1.8 mln additional common units as part of EPD's common unit offering that was priced on April 13, 2010 at a public offering price of $35.55 per common unit.
07:30
CRXX Combinatorx discovers novel multi-target mechanism for the treatment of hematologic malignancies (1.33 )
Co announced the publication of new preclinical data in BLOOD, The Journal of the American Society of Hematology. In the article, CombinatoRx researchers, in collaboration with the Jerome Lipper Multiple Myeloma Center, Dana-Farber Cancer Institute, Harvard Medical School, demonstrate the powerful and unexpected synergistic interactions of A2A Agonist and PDE Inhibitors as potential adjunctive therapy to glucocorticoid (GC) containing regimens in the treatment of multiple myeloma (MM) and other B-cell malignancies. By deploying the CombinatoRx combination high throughput screening (cHTS) technology to identify compounds that synergize with GCs to inhibit the proliferation of the MM cells, researchers were able to identify two classes of targeted agents that synergize with GCs and quite strongly with each other. This synergy was observed broadly across a large panel of MM and diffuse large B-cell lymphoma (DLBCL) cell lines. Exposure of these cells to A2A agonists and specific PDE inhibitors results in rapid synergistic inhibition of proliferation and induction of apoptosis.
07:24
EWY Moody's upgrades Korea rating to A1 with stable outlook (51.32 )
Moody's Investors Service has changed South Korea's government bond ratings to A1 from A2 and maintains a stable outlook. "The change has been prompted by Korea's demonstration of an exceptional level of economic resilience to the global crisis, while containing the government's budget deficit," says Tom Byrne, a Moody's Senior Vice President. The Korean economy is responding rapidly to the improving global economic environment, and the government has put in place supportive policy measures which should help sustain economic growth over time. Moody's rating action also includes moving the ceiling applied to foreign currency bonds issued in Korea to Aa2 from Aa3, and moving the ceiling applied to foreign currency bank-deposits to A1 from A2. The local-currency bond and bank deposit ceilings remain at Aa1.
07:19
AER AerCap announces first quarter 2010 transactions, delivering 12 aircraft and 12 engines under lease agreements (12.94 )
Co announced the completion of the following transactions during the first quarter 2010: Signed new lease agreements for four aircraft, delivered 12 aircraft and 12 engines under lease agreements, purchased 20 aircraft and five engines, sold five aircraft and three engines, and disassembled six aircraft and seven engines.
07:04
MTOX Medtox Scientific reports EPS in-line, beats on revs (11.15 )
Reports Q1 (Mar) earnings of $0.01 per share, in-line with the Thomson Reuters consensus of $0.01; revenues rose 2.4% year/year to $21.2 mln vs the $20.8 mln consensus.
07:03
CHGS China Gengsheng Minerals Wins Two Fracture Proppant Supply Contracts with China's Changqing Oilfield Valued at Approximately $1.3 million (2.80 )
Co announces it has won two fracture proppant supply contracts with China's Changqing Oilfield, a subsidiary of China National Petroleum. The total value of the two contracts is approximately $1.3 million.
07:03
JPM JP Morgan Chase beats by $0.10, beats on revs (45.87 )
Reports Q1 (Mar) earnings of $0.74 per share, $0.10 better than the Thomson Reuters consensus of $0.64; revenues rose 4.6% year/year to $28.17 bln vs the $26.47 bln consensus. Noninterest revenue was $14.4 bln, up by $2.9 bln. The increase was driven by higher principal transactions revenue, including higher trading revenue and higher private equity gains (compared with losses in the prior year), partially offset by lower MSR risk management results. Net interest income was $13.8 bln, down by $1.7 bln, or 11%, largely driven by lower loan balances. Partially offsetting these declines were wider loan spreads and higher investment portfolio net interest income. The provision for credit losses was $7.0 bln, down by $3.1 bln, or 30%, from the prior-year managed provision. The resulting firmwide allowance for loan losses to end-of-period loans retained1 was 5.64%, compared with 4.53% in the prior year. The total consumer-managed provision for credit losses was $7.2 bln, compared with $8.5 bln, reflecting a lower addition to the allowance for credit losses, partially offset by a higher provision related to net charge-offs across most consumer portfolios. Consumer-managed net charge-offs were $7.0 bln, compared with $5.7 bln, resulting in managed net charge-off rates of 6.61% and 4.90%, respectively. The wholesale provision for credit losses was a benefit of $236 mln, compared with an expense of $1.5 bln, reflecting a reduction in the allowance for loan losses due to repayments and loan sales, partially offset by a higher provision related to net charge-offs. Wholesale net charge-offs were $959 mln, compared with $191 mln, resulting in net charge-off rates of 1.84% and 0.32%, respectively, mainly related to continued weakness in commercial real estate. The Firm's nonperforming assets totaled $19.0 bln at March 31, 2010, up from the prior-year level of $14.7 bln and down from the prior quarter by $722 mln. Noninterest expense was $16.1 bln, up by $2.8 bln, or 21%, reflecting increased litigation reserves, including those for mortgage-related matters. Balance sheet: Tier 1 Capital ratios were 11.5% at March 31, 2010 (estimated), 11.1% at December 31, 2009, and 11.4% at March 31, 2009. Tier 1 Common ratios were 9.1% at March 31, 2010 (estimated), 8.8% at December 31, 2009, and 7.3% at March 31, 2009. Dimon says, "Total firmwide credit reserves were more than $39 billion, or 5.6% of total loans. We continued to see delinquencies stabilize, and in some cases improve, in our credit portfolios. Ultimately, the health of these portfolios will track the health of the economy."
07:02
IGTE iGATE beats by $0.02, beats on revs (11.52 )
Reports Q1 (Mar) earnings of $0.18 per share, excluding $0.02 gain, $0.02 better than the Thomson Reuters consensus of $0.16; revenues rose 29.2% year/year to $57.9 mln vs the $54.2 mln consensus. "Our growth in revenue and exponential jump in EPS reflects a good performance coming on the back of a recovery in our key segments..."
07:02
AUMN Golden Minerals extends high grade mineralization at El Quevar, Argentina and drills high grade Silver in Zacatecas, Mexico (7.90 )
Co provided additional drill results for the El Quevar project in northwestern Argentina and results from an initial drilling program for the Panuco target at our Zacatecas project in Mexico. The Company has recently received additional results from the diamond core drilling program at the El Quevar project in Argentina. A total of approximately 41,000 meters in 201 holes have been drilled to date. Drilling results indicate that mineralization continues to the west at the Yaxtche zone, beneath the post mineral volcanic cover. Hole QVD-194, drilled 50 meters west of hole QVD-192, which was the previously reported farthest west drill hole, intercepted 11 meters of 1,301 grams per tonne of silver including a 1 meter intercept of 2,898 grams per tonne of silver. Hole QVD-195, drilled 50 meters farther west than hole QVD-194 intercepted 7 meters of 1,025 grams per tonne of silver including a 1 meter intercept of 5,403 grams per tonne of silver. Both QVD-194 and QVD-195 were drilled through at least 200 meters of post mineral volcanic cover. The drill holes are generally angle holes oriented perpendicular to the interpreted trend of the mineralized zone. The Company has completed approximately 5,900 meters of drilling on an initial 24 drill hole test of its Panuco silver-gold target at the Zacatecas project, located north of the city of Zacatecas, Mexico.
07:02
SIRI Sirius XM Radio adds 171,441 net subscribers in 1Q (0.96 )
Co adds 171,441 net subscribers in the first quarter of 2010, compared to a net subscriber decline of 404,422 in the first quarter of 2009. SIRI ended the first quarter with 18,944,199 subscribers, an increase of 344,765 over the year ago quarter.
07:01
MAPP MAP Pharma announces potential of LEVADEX to treat patients with menstrual migraine and with allodynia during migraine (16.32 )
Co announces additional post-hoc analyses of data from the FREEDOM-301 Phase 3 trial of its investigational LEVADEX(TM) orally inhaled migraine therapy showing efficacy in two difficult to treat patient subpopulations, menstrual migraine and migraine with allodynia. The data will be presented at the Annual Meeting of the American Academy of Neurology
07:01
ITMN InterMune reports top-line results from phase 2b Study of Danoprevir in patients with chronic Hepatitis C; results are among the very best reported by any DAA compound to date (47.93 )
Co announced top-line results from the planned Week 12 interim analysis of the Phase 2b randomized, partially-blind study evaluating the hepatitis C virus (HCV) protease inhibitor danoprevir (also known as RG7227 and ITMN-191), administered for 12 weeks in combination with PEGASYS (pegylated interferon alfa-2a) and COPEGUS (ribavirin), compared with placebo for the same duration plus PEGASYS and COPEGUS. "The RVR and cEVR results reported today are among the very best reported by any DAA compound to date, reinforcing our view that danoprevir may potentially play a meaningful role in the treatment of HCV patients. With Roche (RHHBY), we are now focused on making the critical dose and regimen selection decision for future development plans for ritonavir-boosted danoprevir, an approach that appears to deliver strong efficacy and offer attractive advantages of dosing convenience and increased safety margin." Similar virologic response was observed in all danoprevir treatment groups throughout the 12 weeks and after 12 weeks of treatment. Viral response of patients at the highest dose of 900 mg twice daily was not meaningfully different from that observed in patients who received 600 mg twice daily or 300 mg three times daily. Due to the 900 mg arm being terminated early, most of the patients in this 900 mg arm did not receive 12 weeks of triple therapy.
07:00
BAC Bank of America confirms Charles H. Noski Chief Financial Officer (18.66 ) -Update-
06:31
AVEO AVEO Pharma receives milestone payment from Biogen Idec under licensing agreement for ErbB3 antibody program (8.81 )
Co announces it has received a $5 mln milestone payment from Biogen Idec International GmbH, a subsidiary of Biogen Idec (BIIB), for the selection of the first humanized antibody development candidate from its ErbB3 program.
06:29
S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +7.80.
06:29
Asian Markets
Nikkei...11204.90...+43.70...+0.40%. Hang Seng...22121.43...+17.90...+0.10%.
06:29
European Markets
FTSE...5787.20...+25.50...+0.50%. DAX...6257.68...+27.00...+0.40%.
06:09
AEN Adeona Pharma announces positive results of Part 1 of CopperProof-2 study in Alzheimer's disease and mild congenitive impairment (1.52 )
Co announces positive results of Part 1 of its CopperProof-2 clinical study of Zinthionein ZC in Alzheimer's disease and mild cognitive impairment. Adeona will hold a conference call today at 2:00 PM EDT to discuss these results and answer questions.
06:06
On The Wires
Ascent Solar Technologies (ASTI) announces that Samsonite has selected flexible light-weight CIGS modules from Ascent Solar to be integrated into its new line of solar consumer products being initially rolled out this summer... Radient Pharmaceuticals (RPC) announces the Journal of Immunoassay and Immunochemistry (April 2010, Volume 31) has published a peer-reviewed journal article written by Dr. Andrea Small-Howard and Mr. Holden Harris titled "Advantages of the AMDL-ELISA DR-70 (FDP) Assay Over Carcinoembryonic Antigen (CEA) for Monitoring Colorectal Cancer Patients."
02:36
KRC Kilroy Realty announces that Kilroy Realty, L.P. was assigned a Baa3 issuer rating by Moody's Investors Service with a stable outlook and a BBB- corporate credit rating by S&P with a stable outlook (35.59 )
02:34
BPOP Popular announces pricing of $1.0 bln in depositary shares (3.50 )
Co prices an offering of $1.0 billion in depositary shares, each representing a 1/40th interest in a share of Contingent Convertible Perpetual Non-Cumulative Preferred Stock, Series D, no par value, $1,000 liquidation preference per share.
02:31
ASML ASML Holding beats by EUR 0.02, beats on revs; issues upside 2Q10 revenue guidance (35.99 )
Reports Q1 (Mar) earnings of EUR 0.25 per share, EUR 0.02 better than the Thomson Reuters consensus of EUR 0.23; revenues rose 304.0% year/year to EUR 741.8 mln vs the EUR 728.8 mln consensus. ASML's order backlog as of March 28, 2010 was EUR 2,170 million, totaling 85 systems with an average selling price of EUR 25.5 million. ASML's backlog as of December 31, 2009 was valued at EUR 1,853 million, totaling 69 systems with an average selling price of EUR 26.8 million. Q1 2010 gross margin was 40.3% compared with the Q409 gross margin of 38.0%. Co issues upside guidance for Q2; sees net sales of approx EUR 1.0 bln vs Thomson-Reuters consensus of EUR 972.98 mln. This guidance is EUR 50 mln higher than guided at the publication of 4Q09 results.
02:16
NVR Orleans Homebuilders announces execution of definitive 'stalking horse' asset purchase agreement with NVR (726.50 )
Orleans Homebuilders (OHBIQ) announces the co has executed an asset purchase agreement with NVR for an initial "stalking horse bid" for substantially all of the assets of Orleans Homebuilders. The co confirmed that it has received the cash deposit required under the agreement. The co also filed a motion with the U.S. Bankruptcy Court for the District of Delaware seeking orders to approve the agreement as well as the auction and bidding procedures described herein. Under the asset purchase agreement, NVR would acquire substantially all of the co's land, work-in-process home construction and intangible assets for communities in each of the co's existing regions for an aggregate purchase price of $170.0 mln, subject to certain working capital and other adjustments, as noted below.
01:20
ADTN ADTRAN beats by $0.03, beats on revs (27.32 )
Reports Q1 (Mar) earnings of $0.29 per share, includes stock-based compensation expense, $0.03 better than the Thomson Reuters consensus of $0.26; revenues rose 15.1% year/year to $127 mln vs the $121 mln consensus.
01:12
On The Wires
Key Energy Services (KEG) March 2010 total rig hours increased 16%, and trucking hours increased 21% over the previous month. Activity in Mexico declined 2% during March, and Key's first contract with PEMEX covering 14 workover rigs in the ATG area (Chicontepec field) expired at the end of the first quarter. At PEMEX's request, firm is relocating three of these service rigs to work outside the ATG area, and they anticipate additional rigs will be requested to provide workover services both within and outside the ATG area... Crucell N.V. (CRXL) and the Aeras Global TB Vaccine Foundation announce the start of a Phase II clinical trial of the jointly developed tuberculosis vaccine candidate AERAS-402/Crucell Ad35 in HIV infected adults.
18:06
OHI Omega announces new $320 mln credit facility (20.28 +0.41)
Co announced the new credit facility replaces Omega's previous senior secured credit facility. The New Credit Facility matures in four years, on April 13, 2014; provided, the Company has refinanced or repaid its $310 million, 7% Senior Notes due April 2014, prior to December 31, 2013. In the event the Senior Notes have not been refinanced or repaid on or prior to December 31, 2013, the maturity date of the New Credit Facility will become December 31, 2013. The New Credit Facility includes an "accordion feature" that permits the Company to expand its borrowing capacity to $420 million during its first three years.
17:56
GOL GOL and Delta Air Lines file request to implement code-share agreement (13.19 -0.35)
GOL Linhas Aereas Inteligentes S.A. (GOL), the largest low-cost and low-fare airline in Latin America, announces that it has filed with Delta Air Lines, a request for authorization to implement a code-share agreement with Brazilian and U.S. authorities.
17:07
LLTC Linear Tech beats by $0.13, beats on revs (29.65 +0.31)
Reports Q3 (Mar) adjusted earnings of $0.52 per share, $0.13 better than the Thomson Reuters consensus of $0.39; revenues rose 21.4% year/year to $311.3 mln vs the $279.1 mln consensus. "Bookings remained strong throughout the quarter and our book-to-bill ratio for the quarter was once again firmly positive. Though it is likely that certain customers may have begun to restock inventory from unsustainably low levels, or have reacted to longer lead times within the industry, we believe that new programs at both new and existing customers as well as expanding end-customer demand at continuing programs have been the primary catalyst for our current growth. Inventories in the distribution channel are still relatively lean and inventory turns remain higher than normal. Looking ahead we remain upbeat about our growth prospects and currently believe we can continue to keep our lead times at modest levels of 4 to 6 weeks and grow revenues another 7-10% in our fiscal fourth quarter."
17:02
BECN Beacon Roofing Supply announces acquisition of Tampa, Florida-Based Phoenix Sales (19.94 +0.19)
Co announced that it has acquired Phoenix Sales, a distributor of commercial roofing systems and related accessories with four branches located in Tampa, Orlando, Pompano and Ft. Myers, Florida and sales of ~$20 mln in 2009.
17:01
KLIC Kulicke & Soffa announces Q2 revs of ~$153 mln vs. $146.4 mln Thomson Reuters consensus; guides Q3 revs of $205 mln vs. $143.1 mln consensus (7.86 -0.26)
Co said, "We are able to give revenue guidance for the June quarter a few weeks earlier than normal because of unprecedented demand for both ball bonders and wedge bonders. Based on booked orders, we expect June quarter revenue of ~$205 mln. This same strength in demand gives us visibility into the beginning of the September quarter and while it is too early to give guidance for that quarter, so far we are seeing a continuation of current customer demand patterns."
17:01
HCC HCC Insurance estimates first quarter catastrophe losses to be ~$20.0 mln pretax and $13.0 mln after-tax will reduce Q1 EPS by ~$0.11 (27.93 +0.44)
Co announced that it estimates losses from first quarter catastrophes, which include the Chilean earthquake, the Haitian earthquake, and European windstorm Xynthia, to be approximately $20.0 mln pretax and $13.0 mln after-tax. These amounts include estimated losses and loss expenses net of reinsurance recoverable and also include estimated reinsurance reinstatement premiums. The estimated loss is primarily from the Chilean earthquake. HCC estimates the total after-tax loss will reduce the Company's first quarter earnings by approximately $0.11 per diluted share.
17:00
BMR BioMed Realty trading ~4% lower following trade resumption (18.08 +0.67) -Update-
17:00
HOFT Hooker Furniture will resume trading at 17:15 ET (16.66 -0.06) -Update-
16:35
HCSG Healthcare Services Group misses by $0.04, misses on revs; increases dividend (23.32 +0.25)
Reports Q1 (Mar) earnings of $0.17 per share, $0.04 worse than the Thomson Reuters consensus of $0.21; revenues rose 14.6% year/year to $183.8 mln vs the $186.1 mln consensus. Additionally, co declared a regular quarterly cash dividend of $0.22 per common share, a 5% increase over the dividend declared for the 2009 Q4 and a 22% increase over the dividend declared for the same 2009 period payment.
16:34
ART Artio Global Investors reports preliminary month-end assets under management of $56.4 billion as of March 31, 2010, compared to $52.9 billion as of February 28, 2010 (24.03 +0.05)
16:31
Moody's says U.S. commercial real estate markets continue improvement
Commercial real estate markets across the U.S. continued to show signs of improvement, according to Moody's Investors Service Red-Yellow-Green study for first quarter 2010, which incorporates 12-month forecasts. The supply pipeline of new properties continued to shrink across almost all sectors while projected demand improved. "This quarter's numbers maintained the positive theme that began last quarter," says Moody's Vice President-Senior Analyst Keith Banhazl. "While vacancy rates remain high, generally due to the poor absorption experienced in 2009, projections show a slowdown in negative absorption over the next year." All but the two hotel sectors showed better market conditions and had higher Red-Yellow-Green scores than they did in the previous quarter. Although the largest share of markets--43%-- remain in red territory, the proportion is an improvement from the final quarter of 2009 when a majority of the markets--51%--were in red territory, according to Red-Yellow-Green. The share of markets that are green increased from 13% to 17% and that are yellow from 36% to 41%.
16:30
IOSP Innospec announces collaboration with Huntsman on Innovative New Surfactant (12.35 +0.07)
The co announces the launch of a major new collaborative venture with Huntsman Corporation (HUN) in the personal care market. The collaboration brings together Huntsman's novel isethionate surfactant technology and Innospec's global sales and applications expertise in the personal care market. Under an exclusive agreement, Innospec and Huntsman will co-operate to continue developing and to commercialize Innospec's new, innovative mild surfactant: Iselux. Huntsman will focus on manufacturing the surfactant's key raw material, and Innospec will manufacture and market the finished surfactant, initially from its plant in Spencer, North Carolina.
16:29
RPC Roberts Pharm announced the second closing of a 12% Convertible Promissory Note and Warrant financing (1.70 -0.49)
Co announced the second closing of a 12% Convertible Promissory Note and Warrant financing for the sale of additional Notes in the aggregate principal amount of $5,524,425. The first financing, which closed on March 26, 2010, included one Note in the original principal amount of $925,000 and Warrants to purchase up to 1,100,000 shares of RPC common stock. Net proceeds for the first financing were approximately $540,000. The second Convertible Promissory Note financing was offered to 25 accredited investors with similar discount terms and lender fees to that of the first financing. Net proceeds from the sale of Notes in second closing after payment of fees and discounts were ~$3,225,000. Warrants to purchase 6,569,585 shares of RPC common stock were also issued as a part of the second closing.
16:20
INTC Intel beats by $0.05, beats on revs; guides Q2 revs, margins above consensus (22.76 +0.23)
Reports Q1 (Mar) earnings of $0.43 per share, $0.05 better than the Thomson Reuters consensus of $0.38; revenues rose 44.2% year/year to $10.3 bln vs the $9.83 bln consensus. Intel reports Q1 gross margins of 63% vs 61.3%. The average selling price (ASP) for microprocessors was slightly up. Co issues upside guidance for Q2, sees Q2 revs of $9.8-10.6 bln vs. $9.69 bln Thomson Reuters consensus. Co guides Q2 gross margins of 64%, plus or minus a couple percentage points, vs 60.4% consensus. Co guides FY10 gross margins to 64%, plus or minus a couple percentage pts, vs 61.6% consensus, up from 61%, plus or minus 3% pts... Spending (R&D plus MG&A) was $12.4 billion, plus or minus $100 million. The company's prior expectation was $11.8 billion, plus or minus $100 million. R&D spending was approximately $6.4 billion. Tax rate was approximately 31% for the second, third and fourth quarters. Depreciation was approximately $4.4 billion, plus or minus $100 million. Capital spending is expected to be $4.8 billion, plus or minus $100 million. "The investments we're making in leading edge technology are delivering the most compelling product line-up in our history... These leadership products combined with growing worldwide demand and continued outstanding execution resulted in Intel's best first quarter ever. Looking forward, we're optimistic about our business as Intel products are designed into a variety of new and exciting segments."
16:18
CLD Cloud Peak Energy reports Q1 production results for its partilaly owned mine decreasing ~4.6% YoY to 21.7 mln short tons vs 22.7 mln short tons (16.75 +0.20)
Co announced that it has submitted its first quarter 2010 coal production to Rio Tinto (RTP) plc on behalf of Cloud Peak Energy Resources LLC. Cloud Peak Energy Inc. owns a 51.7% controlling interest in Cloud Peak Energy Resources LLC. Rio Tinto owns the remaining interest in Cloud Peak Energy Resources LLC.
16:17
GFC Gerova Financial: Marshall Manley, Chief Executive Officer and Chairman of the Board of Directors of GEROVA, resigned from all positions held with GEROVA (6.53 +0.48)
The co announces that Marshall Manley, Chief Executive Officer and Chairman of the Board of Directors of GEROVA, resigned from all positions held with GEROVA. In addition, the Board accepted the resignation of Tore Nag as Chief Operating Officer of GEROVA. Dr. Gary T. Hirst, President and a Director of GEROVA, was appointed as Chairman of the Board, and Stuart LR Solomons was appointed as Managing Director and a member of the Board. Dr. Hirst agreed to accept the position of Chairman and Mr. Solomons agreed to accept the position of Managing Director on an interim basis until suitable permanent candidates for these positions are appointed by the Board.
16:16
SGI Silicon Graphics announced a strategic partnership with Nimbis Services (10.25 -0.14)
Co announced a strategic partnership with Nimbis Services, which will provide easy access to SGI Cyclone, the first large-scale, on-demand cloud computing service specifically dedicated to technical applications. Cyclone's HPC cloud services will be available May 2010 for small and mid-sized U.S. companies via Nimbis Services' ecommerce portal.
16:16
NBIX Neurocrine Biosci announces that it has received approval from Health Canada to commence its second Phase I clinical trial of its proprietary Vesicular Mono-Amine Transporter 2 compound, NBI-98854 (2.79 unch)
16:15
MET MetLife announced it will incur a non-cash charge for the reduction of deferred tax assets in an amount of ~$75 mln in the quarter ending March 31, 2010 (45.46 -0.17)
In an 8-K, the Co announced The Patient Protection and Affordable Care Act, signed into law on March 23, 2010, and The Health Care and Education Reconciliation Act of 2010, signed into law on March 30, 2010 (together, the "Act"), reduce the tax deduction available to MET for retiree health care costs. The federal government currently provides a subsidy, on a tax-free basis, to companies, including the Co and its subsidiaries, that provide certain retiree prescription drug benefits (the "Medicare Part D subsidy"). The Act reduces the tax deductibility of retiree health care costs to the extent of any Medicare Part D subsidy received beginning in 2013. Because the deductibility of future retiree health care costs is reflected in the Co's financial statements, the entire future impact of this change in law must be recorded as a charge in the period in which the legislation was enacted. Therefore, in order to reflect the increase in taxes due to this change in law, the Co will incur a non-cash charge for the reduction of deferred tax assets in an amount of ~$75 mln n in the quarter ending March 31, 2010. The charge will reduce net income, as determined under generally accepted accounting principles in the United States of America ("GAAP"), and also will reduce operating earnings.
16:15
RPM RPM names Robert L. Matejka as CFO (21.33 +0.21)
Co announced that P. Kelly Tompkins, executive vice president and CFO, will be resigning effective April 30, 2010, to accept the position of executive vice president of legal, government affairs and sustainability for Cleveland-based Cliffs Natural Resources (CLF). Robert L. Matejka, who had previously served as RPM's CFO from 2001 through 2007 has been named the company's CFO.
16:07
CSX CSX Corp beats by $0.09, beats on revs (54.92 )
Reports Q1 (Mar) earnings of $0.78 per share, $0.09 better than the Thomson Reuters consensus of $0.69; revenues rose 11.0% year/year to $2.5 bln vs the $2.38 bln consensus, with gains across most of the co's markets. The combination of higher revenues and productivity also resulted in a record first quarter operating ratio of 74.5 percent and record first quarter operating income of $634 million. "CSX drove strong efficiencies in its operations and produced outstanding results as the economy continued to recover. We are particularly proud of our excellent safety performance in the quarter, as our employees achieved record results in one of America's safest industries."
16:06
BMR BioMed Realty announces public offering of 9,000,000 shares of common stock (18.11 +0.67) -Update-
...(Stock is Halted)
16:06
NTCT NetScout Systems sees FY10 Non-GAAP revs of $261-262 mln vs. $260.9 mln Thomson Reuters consensus; sees EPS of $0.85-0.86 vs. $0.89 consensus (14.61 -0.02)
Co said, "We gained significant momentum in the second half of the year and achieved the bookings and revenue targets that we set a year ago. We set a record for bookings and deferred revenue and achieved our full year revenue guidance. EPS was slightly below guidance for the year because of sales incentive expenses principally associated with higher than anticipated service renewal bookings in advance of the contract start date. Those service renewal bookings drove $16 mln in Q4 deferred revenue growth but provided no FY10 revenue. We do not expect this increased level of sales expense to continue in FY11. Most importantly, our deferred revenue strength gives us additional revenue and profit visibility for which the associated sales expense has already been recognized... Cash and marketable securities also hit a record high of over $170 mln, increasing by more than $19 mln in the quarter, and we anticipate record Q1 FY11 cash growth due to high receivables at March 31. In fiscal 2010 bookings were up 12 percent year-over-year. We expect that momentum to continue into fiscal 2011 driven by growth in the wireless service provider sector and returning strength in the financial services sector. We have yet to see enterprise sector growth, however we anticipate that it will return as the economy continues to recover. Our preliminary expectation is for FY11 revenue growth of 7-13% and EPS growth of 10-20%.
16:01
QKLS QKL Stores provides update to 2010 store opening plan; two new super markets opened in 1Q10 (5.95 +0.17)
The co says two new supermarkets were opened in the 2010 first quarter and one department store was opened during the first week of April bringing the total number of Company store locations to 39 for an aggregate total of 160,303 sq. meters of store space. This is comprised of 30 supermarkets totaling 85,000 sq. meters, 6 hypermarkets totaling 42,000 sq. meters and 3 department stores totaling 33,000 sq. meters. The Company plans on opening 20 locations and a minimum total of 100,000 sq meters of new store space in 2010. Currently, over twenty projects are under construction or are about to start construction along with two store renovations and two store relocations that are designed to increase the general size of each individual location. Further, the Company's new Harbin-based 19,600 sq. meter distribution center is scheduled to open in the second half of April 2010. Once opened, this new DC will accelerate the Company's store opening schedule, deliver a greater variety of products to new store locations and enhance overall efficiency.
16:01
LSE Capital Lease Funding announces cash tender offer for any and all of its 7.50% convertible senior notes (5.52 +0.02)
16:01
EXAS EXACT Sciences announces 3.5 mln common stock offering (4.69 -0.04)
16:01
DLLR Dollar Financial announces acquisition of 4th largest pawn lending business in the United Kingdom (24.72 +0.19)
Co announces the acquisition of the fourth largest pawn broking business in the United Kingdom, Suttons & Robertsons. Two of the three acquired stores were founded in the year 1770 and 1797 and are reputed to be the oldest pawn broking stores in London. Co says "we expect to leverage this solid expertise against our existing store-based international pawn operations, as well as to further grow and expand this well-recognized brand and provider of high end pawn lending services in the U.K. and other countries around the world." The purchase price of the acquisition, including approximately 6.0M of net assets, was 15.0M with additional payouts potentially amounting to another 2.5M over two years. The acquired stores are anticipated to generate approximately 2.5M of EBITDA over the twelve months following acquisition.
16:00
HOFT Hooker Furniture halted, news pending (16.66 -0.06)
16:00
BMR BioMed Realty halted, news pending (18.06 +0.65)
Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond and world FX market participants. 1-800-752-3013 or http://www.briefing.com
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News