Briefing.com: Hourly In Play (R) – 20:00 ET
Sep 20, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 20-Sep-10 20:00 ET
18:29
GORO Gold Resource executes $55.6 mln private placement to accelerate production profile and exploration (18.60 +0.15)
GORO's private placement consists of 3.475 mln shares of restricted common stock at $16.00 per share with no warrants.
18:25
CHTR Charter prices $1 bln senior notes offering (34.50 ) -Update-
Co announced that its subsidiary, CCO Holdings, LLC, has priced its previously announced offering of Senior Notes due 2017. The transaction was upsized to $1 billion from the initial announcement amount of $750 mln. The 2017 Notes will have an annual interest rate of 7.25%, with interest paid semi-annually in April and October.
18:20
GLD December gold is trading just below the unchanged line after hours; now -$0.80 at $1280.00 per ounce (124.87 +0.33)
18:17
USO October crude oil is trading lower after hours; now -$0.63 at $74.23 per barrel (33.22 +0.57)
17:58
HTZ Hertz Global Holdings announces pricing of $400 mln private offering of senior notes by the Hertz Corp (11.16 +0.17) -Update-
Co announced that its wholly owned subsidiary, The Hertz Corp, had entered into an agreement to sell $400 mln aggregate principal amount of 7.50% Senior Notes due 2018 in a private offering. The notes are expected to constitute a further issuance of, will be fungible with and will be consolidated and form a single series with the 7.50% Senior Notes due 2018 priced on Sept 16, 2010 in the aggregate principal amount of $300 mln and anticipated to be delivered on Sept 30, 2010
17:24
Futures are trading lower after hours: S&P 500 futures are -1.18 from fair value of 1137.78 and Nasdaq100 futures -5.47 points from fair value of 1987.22
17:11
CLF Cliffs Natural Resources announces Asia Pacific iron ore infrastructure upgrades (61.81 +0.85)
Co announced that its Board of Directors has approved a capital project at its Koolyanobbing Complex in Western Australia. The project, which requires ~$320 mln Australian dollars of incremental capital investment, is expected to allow the Koolyanobbing Complex to produce ~11 mln tonnes annually.
17:05
HPQ HP and Oracle reaffirmed their long-term strategic partnership and the resolution of litigation regarding Mark V. Hurd's employment at ORCL (39.39 +0.25)
Co announced while the terms of the settlement are confidential, Mr. Hurd will adhere to his obligations to protect HP's confidential information while fulfilling his responsibilities at ORCL. The agreement also reaffirms HP and Oracle's commitment to delivering the best products and solutions to their more than 140,000 shared customers.
17:03
HME Home Properties raises Q3 guidance (53.49 +2.08)
Co raises Q3 funds from operations (FFO's) guidance; co now expects Q3 FFO per share to be at the high end of, or slightly above its prior guinance of $0.73-0.77; co is now expecting, based on prelim results, FFO's in the range of $0.76-0.80 vs. $0.77 Thomson Reuters consensus. Co also raises FY10 FFO's of $2.98-3.06 vs. $3.01 consensus. Co expects same-store revenue growth to be slightly positive in Q3, which would be the first increase in YoY revenue since Q1 2009.
17:00
CWH CommonWealth REIT announces redemption of remaining 7 mln shares outstanding of 8 3/4 % Series B cumulative redeemable preferred shares (28.00 +0.70)
Co announced that it will redeem the remaining 7 million shares outstanding of its 8 3/4% Series B Cumulative Redeemable Preferred Shares at the stated Liquidation Preference price of $25 per share plus accrued and unpaid dividends to the date of redemption. This redemption is expected to occur on or about October 21, 2010.
16:48
DVAX Dynavax announces $30 mln at-the-market common stock purchase agreement (1.70 +0.08)
Co announced that Aspire Capital Fund, LLC has purchased 1 mln shares of DVAX common stock at $2.00 per share, representing a 23% premium to the closing market price on September 17, 2010. The investment was made in connection with a $30 mln At-The-Market common stock purchase agreement under which Aspire Capital has committed to purchase up to an additional $28 mln of DVAX common stock over the next 25 months.
16:47
CP Canadian Pacific announces a $350 million debt offering and a prepayment to its pension plans (62.26 +0.58)
16:40
ZN Zion Oil to launch rights offering of units of its securities (5.62 -0.14)
Co announced that it intends to launch a rights offering. Under the rights offering, ZN will distribute non-transferable subscription rights to holders of ZN's common stock on the close of business on the record date of September 28, 2010, to purchase their pro rata portion of ~3.8 mln Units of ZN's securities. Each Unit will consist of one (1) share of ZN's common stock and one (1) warrant to purchase an additional share of ZN's common stock at an exercise price of $4.00.
16:36
JAXB Jacksonville Bancorp and Atlantic BancGrouP (ATBC 2.50) announce revised merger agreement and stock purchase agreement terms (8.25 +0.50)
The cos announced an amendment to their previously announced merger agreement. JAXB also announced an amendment to its previously announced stock purchase agreement with four investors led by CapGen Capital Group IV LP. The amount of capital to be raised under the stock purchase agreement has been increased from $30 million to $35 million and the purchase price per share has been reduced from $10 to $9. As a result, JAXB intends to issue 3,888,889 shares to the four private investors. Under the amendment to the merger agreement, ATBC shareholders will still receive 0.2 shares of JAXB common stock for each share of ATBC common stock. Additionally, each share of ATBC common stock will entitle its holder to receive $0.67 per share in cash. A total of approximately 250,000 shares of JAXB common stock is expected to be issued to ATBC shareholders which is unchanged since the original agreement. (both are halted)
16:34
KRA Kraton Performance Polymers commences public offering of 8 mln shares of common stock (28.53 -1.19)
16:31
MHLD Maiden Holdings announces exchange of warrants with founding shareholders (7.74 +0.08)
Co entered into an agreement with its founding shareholders, Michael Karfunkel, George Karfunkel and Barry Zyskind, to exchange all of the outstanding warrants held by them for restricted Maiden common shares. The outstanding warrants, which entitle the holders to purchase 4.05 mln Maiden common shares, were issued June 7, 2007 with an exercise price of $10.00 per share, an expiration date of June 7, 2017 and a three-year lock-up period that expired on June 7, 2010. The founding shareholders will receive an aggregate of 1.8 mln Maiden common shares in exchange for the warrants.
16:30
EROC Eagle Rock Energy says East Texas oil and gas production will be shut-in longer than originally anticipated (6.32 unch)
Co announces Energy Partners, L.P. (the "Partnership" or "Eagle Rock") (Nasdaq:EROC) announced today that its East Texas oil and gas production will be shut-in longer than originally anticipated due to delays in returning to service the third-party operated facility that processes the Partnership's production. The Partnership expects the shut-in to negatively impact net revenues in its Upstream Business by approximately $4 million.
16:22
KCAP Kohlberg Capital announces forbearance and settlement agreement with lenders (6.00 +0.14)
Co entered into a forbearance and settlement agreement relating to their revolving credit facility with BMO Capital Markets, Deutsche Bank AG and the other lender parties in order to settle all outstanding claims asserted in connection with the Co-initiated credit facility litigation.
16:19
ITT ITT Industries awarded sole source contract by NASA for the Cross-track Infrared Sounder instrument planned for flight on the first JPSS-1 in 2014 (46.94 +1.23) -Update-
Under this contract, ITT will manufacture, test and deliver the CrIS, support instrument integration on JPSS-1, and provide launch and post-launch support. The instrument will be identical to the CrIS planned for flight on the NPOESS Preparatory Project mission.
16:19
TCAP Triangle Capital commences public offering of 2 mln shares of common stock (16.76 +0.48)
16:17
CBZ CBIZ Inc announced a $100 mln convertible sr subordinated notes offering (6.08 )
16:15
WLL Whiting Petroleum announced that it has commenced a public offering of $350 mln aggregate principal amount of senior subordinated notes due 2018 (96.28 +3.50) -Update-
Co expects to use the net proceeds from this offering to repay a portion of the debt outstanding under its credit agreement.
16:12
SYA Symetra Financial's Symetra Life announces new organizational structure (10.81 -0.02)
Symetra Life Insurance Company announced a new organizational structure. The new organizational structure reflects Symetra's three core businesses -- retirement solutions, life insurance and group insurance. A division has been created for each core business, led by an executive vice president. Co is still conducting a search for an executive to lead its Life Division.
16:11
GDI Gardner Denver appoints Michael M. Larsen as Vice President and Chief Financial Officer, effective October 11 (54.45 +1.00)
Co announced Larsen succeeds Helen W. Cornell, who has served in this capacity since 2004 and previously advised the Co of her intention to retire to enable her to increase her involvement in family business matters. Cornell will remain with the Co during a transition period, which is expected to be completed in November 2010. Prior to joining GDI Larsen was Chief Financial Officer, GE Water & Process Technologies.
16:09
VOLC Volcano Files Counterclaim Asserting St. Jude (STJ) Infringes Three Volcano Patents; Answers St. Jude's Patent Infringement Claims (24.31 +0.03)
Co said that it believes the patent infringement claims brought against the company by St. Jude Medical Systems AB (STJ) and its affiliated companies are without merit. In a filing made today in the United States District Court for the District of Delaware, Volcano denies allegations that its PrimeWire products infringe any valid claim of St. Jude's asserted patents. Moreover, as described in detail in its answer, Volcano believes that two of the asserted St. Jude patents are unenforceable because they were obtained through acts of fraud on the United States Patent and Trademark Office (USPTO). Specifically, Volcano believes that the individuals involved in securing these two patents knowingly withheld from the USPTO a patent describing the pioneering work of scientists at Volcano's predecessor company, Cardiometrics, Inc. In addition, Volcano has alleged that St. Jude's PressureWire products and its RadiAnalyzer Xpress product infringe three Volcano patents. In its counterclaim, Volcano is seeking injunctive relief and monetary damages.
16:09
CXS CreXus Investment announces Q3 dividend of $0.17/share, up from $0.12/share (12.43 +0.21)
16:08
TNAV TeleNav announces amendments to Sprint and Tele Atlas agreements; co guides Q1 in-line, guides FY11 below consensus (5.06 -0.07)
Co announced that it entered into amendments to its Master Application and Services Agreement with Sprint, its largest customer, and its License Agreement with Tele Atlas, a supplier of map and point of interest content used in TeleNav's services. Co issues in-line Q1 guidance; co sees Q1 EPS of ~$0.23 vs. $0.23 consensus, guides revs of ~$$50 mln vs $50.3 mln consensus. Co issues downside FY11 guidance; co guides FY11 Non-GAAP EPS of ~$0.55-0.60 vs $0.84 consensus, guides revs of ~$180-185 mln vs. $206 mln consensus.
16:06
CWH CommonWealth REIT announces proposed public offering of 5 mln common shares (27.96 +0.66)
Co announces that it has commenced a proposed public offering of 5 mln common shares. CommonWealth expects to use the net proceeds to reduce amounts outstanding under its $750 mln revolving credit facility, fund a portion of its redemption of the remaining seven million shares of its 8 3/4% Series B cumulative redeemable preferred shares, and fund general business activities, including possible future acquisitions.
16:02
IVR Invesco Mortgage Capital declares Q3 dividend of $1.00, up from prior dividend of $0.74/share (22.30 +0.30)
16:02
HTS Hatteras Financial announces public offering of 5 mln shares of common stock pursuant to an effective registration statement (30.69 ) -Update-
16:01
CYS Cypress Sharpridge Investments launches 10 mln shares common stock offering; co intends to invest the net proceeds of the offering in Agency RMBS and for general corporate purposes (13.87 +0.18)
16:01
HCN Health Care REIT proposes offering of 7mln shares of common stock (48.43 +0.52)
Co intends to use proceeds for general corporate purposes, including investing in properties and repaying borrowings under its unsecured line of credit and other outstanding indebtedness.
16:01
HTS Hatteras Financial declares third quarter 2010 dividend of $1.10 per share, unchanged from prior (30.69 +0.38)
15:43
Earnings Calendar
Today after the close no companies are scheduled to report. Tomorrow before the open look for the following companies to report: AZO, CCL, CAG, and FDS
15:40
Events and conferences of interest for tomorrow
Events and conferences of interest for tomorrow, September 21, include: T, YHOO, AMT at Goldman Sachs Communacopia XIX Conference; SLW, SWC, GRS at Denver Gold Group Forum. Central Bank/Treasury: FOMC Policy Release; $25 bln 1-yr Treasury Bills Auction.
15:40
ITB Global, sector, & commodity ETF money flows- Homebuilders/Home Construction (ITB, XHB) lead all groups heading towards the close; Natural Gas (UNG) displays relative weakness to the Energy Complex -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
homebuilders & home construction- ITB +3.75%, XHB +3.0%, iShares Israel- EIS +3.50%, India- INP +3.25%, PIN +2.75%, iShares RUT 2000- IWM +2.50%, regional banks- KRE +2.50%, iShares Sweden- EWD +2.50%, REITS & real estate- IYR +2.25%, ICF +2.50%, VNQ +2.5%, internet index- FDN +2.50%, coal- KOL +2.25%, iShares Australia- EWA +2.50%, iShares France- EWQ +2.25%, commercial banks- KBE +2.25%
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
natural gas- UNG -4.0%, coffee- JO -4.0%, VIX vol index- VXX -2.0%, VXZ -1.0%, palladium- PALL -1.25%, cocoa- NIB -1.0%, sugar- SGG -1.0%, ag/grain complex- DBA -0.50%, Pound/Sterling currency shares- FXB -0.50%, livestock- COW -0.50%, copper- JJC -0.25%
15:37
KAMN Kaman has replaced its 3-year $225 mln revolving credit facility with an amended and restated 4-year $275 mln revolving credit facility (25.71 +0.87)
15:23
APD Air Products will launch its first retail compression-less station in 2010 at a location to be announced (83.11 +0.91)
15:19
SMH Semiconductor Hldrs lagging sector is testing last week's peak at 26.77 (26.76 +0.13) -Update- -Technical-
Noted early underperformance but the SMH has driven steadily higher this afternoon to test last week's peak. The next level of interest above is at the to of the Aug gap at 26.93.
15:15
XOM Exxon Mobil announced agreement with BP to provide its underwater well containment equipment to Marine Well Containment Company (61.65 +0.87)
Co announced an agreement with BP to provide its underwater well containment equipment to Marine Well Containment Company as part of BP's intent to join the new organization. Chevron (CVX), ConocoPhillips (COP), ExxonMobil and Shell (RDS.A) are establishing the Marine Well Containment Company to provide emergency response services in the U.S. Gulf of Mexico. As part of the agreement, BP equipment will be made available to all oil and gas companies operating in the U.S. Gulf of Mexico. The equipment could be deployed to capture and contain oil from a potential underwater well blowout while the new rapid-response system announced in July is being developed. ExxonMobil is leading the engineering, procurement and construction of the system on behalf of the sponsor companies.
15:03
CME CME Group pushes to fresh session high of 272.00 (271.99 +8.12) -Update- -Technical-
Approaching its six day range top/last wk and Sep high at 272.23
15:01
ARG Airgas Receives Three-Year Contract Extension from Boeing (BA), representing $19 mln of revs in the first year of the contract (67.81 +0.11)
14:59
FLEX NASDAQ 100 (NDX) strength & weakness- Internet names (BIDU, GOOG, PCLN) remain the best performing percentage gainers approaching the final hour of trade; Smartphone maker (RIMM) remains under notable selling pressure all session -Technical-
NDX 10 Best % Performers:
FLEX, APOL, PCLN, BIDU, GOOG, GRMN, NWSA, PCAR, CMCSA, ISRG
NDX 10 Worst % Performers:
RIMM, SNDK, MRVL, BRCM, XLNX, HOLX, CTSH, CSCO, BIIB, SRCL
NASDAQ A/D @ +3.0:1
NASDAQ TRIN @ +0.75
14:58
SPY S&P afternoon extension continues -- Dow +145, S&P +16, Nasdaq +34 -Update- -Technical-
The break above narrow midday ranges has been extended in recent trade (S&P session high 1142). The next near term resistance zone for the S&P is at 1145/1147.
14:56
DXR Daxor Corporation announces SEC Administrative action; Judge will issue an opinion (9.10 -0.70)
Co announced that the SEC instituted administrative proceedings. The issue of whether or not Daxor is an investment company was first raised by the SEC in 1984. The Administrative Law Judge will issue an opinion no later than 300 days from September 17, 2010. Co expects no immediate impact on its operations from this administrative proceeding. Co feels strongly that its history of operations demonstrate that it is primarily an operating medical instrumentation and biotechnology company and not primarily an investment company.
14:56
AXP Dow 30 (DJX) strength & weakness- Financials (AXP, BAC, JPM) remains the best performing percentage gainers approaching the final hour of trade; lone decliner remains Tech. (CSCO) -Technical-
DJX 5 Best % Performers:
AXP, HD, JPM, CVX, BAC
DJX 5 Worst % Performers:
CSCO
NYSE A/D @ +3.5:1
NYSE TRIN +0.40
14:53
OIH Oil Service HOLDRS notches minor new session/Sep high (109.10 +1.91) -Technical-
The OIH broke above its midday range and last week's high (109.00/109.02) in recent action (session high 109.24). The extension leave it modestly under its 200 ema and the Aug/four month close high at 109.50/109.97-- BHI +2.2%, CAM +2.2%, DO +2.4%, ESV +3.8%, EXH +1.4%, HAL +2.6%, NBR +3.4%, NOV +2.4%, RDC +3.9%, TDW +1.8%, WFT +3.5%.
14:40
COMDX NYMEX Energy Closing Prices
Crude oil settled up $1.20 to $74.86, natural gas dropped 20.2 cents to finish at $3.822, heating oil gained 4.17 cents to close at $2.1409, RBOB gasoline ended higher by 3.06 cents to $1.9498 (all Oct contracts).
14:35
ACFN Acorn Energy expands equity stake in US Sensor Systems (5.02 +0.30)
Co announced it has increased its equity ownership of US Sensor Systems to 51%. The company also has options to increase its stake in USSI up to 84%. USSI's PipeSafe System is currently being installed along an existing one-mile natural gas pipeline by one of China's largest petroleum companies. Installation is expected to be completed by the end of October 2010, with planning already underway to possibly expand the system to ~30 miles in early 2011.
14:27
COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Corn Ends Lower After Hitting Two-Year High
December corn closed 4 cents lower at $5.0925 per bushel, November soybeans closed 17 cents higher at $10.86 per bushel, Dec wheat closed 8.25 cents lower at $7.31 per bushel, October ethanol closed unchanged at $1.978, October world sugar futures closed 0.17 cents lower to 23.08 cents.
Earlier, see 11:39 comment, we noted that Dec corn futures hit a new contract high of $5.2375 per bushel, which are levels not seen since early October 2008. The gains are largely due to continued fears that corn yields will worsen even further in the U.S. and other countries. Also, some weakness is coming from planting delay expectations in grains in Russia. Global corn ending stock levels have declined almost 10%, which has provided notable strength in corn futures.
14:00
WU Western Union and EnStream announce strategic alliance to launch international mobile money transfer service (17.25 +0.27)
Cos announced a strategic alliance that will allow Zoompass users to send cross-border and domestic money transfers directly from their mobile phones. EnStream is a mobile-commerce joint venture company owned by Bell Canada, Rogers Communications (RCI) and TELUS (TU), Canada's national wireless operators.
13:56
DB Deutsche Bank fixes subscription price for new shares at EUR 33.00 per share, which corresponds to a subscription ratio of 2:1 (61.24 +1.00)
Co fixed the subscription price for the new shares from the capital increase against cash contributions at EUR 33.00 per share. Deutsche Bank issues a total of 308.6 million new registered no par value shares (common shares) in public offerings in Germany and in the United States using authorized capital. This corresponds to a subscription ratio of 2:1. The new shares will have full dividend rights from January 1, 2010. The gross proceeds from the issue amount to ~EUR 10.2 billion. (DB closing price was near EUR 47/share)
13:51
TDY Teledyne Tech acquires Icelandic Maker of the Gavia Autonomous Underwater Vehicle (39.16 +0.93)
Co announced that its subsidiary, Teledyne Benthos, acquired Hafmynd ehf. Hafmynd, located near Reykjavik, Iceland, designs and manufactures the Gavia, an autonomous underwater vehicle (AUV) that is capable of carrying out complex survey missions for commercial, scientific and defense applications. The terms of the transaction were not disclosed.
13:49
SALM Salem Comms acquires Samaritan Fundraising (2.77 0.00)
Co's subsidary announces that it has acquired Samaritan Fundraising. The addition of Samaritan Fundraising will complement Salem Web Network's portfolio of brands focused on aiding local churches, ministries, and organizations.
13:46
MDT Medtronic receives FDA approval of Integrity Coronary Stent (33.60 +0.30)
Co announced FDA approval of the Integrity Coronary Stent System. The new platform for Medtronic's coronary stents, including the Integrity bare-metal stent, is based on an advance in biomedical engineering called continuous sinusoid technology that enables the exploration of other device concepts such as a polymer-free drug-filled stent.
13:42
TCK Teck Resources lowers Coal Guidance; now expects coal sales 5.2 to 5.5 million tonnes (38.06 -0.16)
Co provides an update on its coal pricing and sales guidance. Teck has completed Q4 negotiations with a majority of its traditional customers in both the Pacific and Atlantic regions with pricing generally at $209 per tonne for its top quality brand, with other brands priced in line with market settlements announced by other producers for similar quality products. Teck also said that that its coal sales for the quarter and the year are being negatively affected by some temporary capacity constraints at Westshore Terminals. Q3 coal sales are now expected to be in the range of 5.2 to 5.5 mln tonnes, vs previous guidance of 5.8 to 6.2 mln tonnes. Sales for the calendar year are expected to be in the range of 23.0 to 23.8 mln tonnes vs previously announced 23.5 to 24.5 mln tonnes. Shipments through Westshore have been affected by Westshore not operating at its stated annual capacity of 29 mln tonnes during the current quarter. Neither the ongoing strike at the Coal Mountain mine nor the June 2010 explosion in the Greenhills processing plant has had a material impact on sales. Teck continues to load vessels with Coal Mountain coal from port inventory. The rebuilt Greenhills dryer is expected to begin commissioning in December 2010, but the mine will continue to ship higher moisture coal in the interim.
13:42
XHB SPDR Homebuilders sets new session high of 15.47, retests its 200 ema at 15.48 (15.46 +0.39) -Technical-
Note that its Sep high/two wk range top is at 15.58 -- LEN, HD, MDC, MTH, PHM, SPF, TOL, LOW, MHK, SHW, RYL, DHI, KBH.
13:31
COMDX COMEX Metals Closing Prices
Gold finished higher by $3.50 to $1281.00, silver shed 2.1 cents to end at $20.795, and copper closed lower by 1.4 cents to $3.508 (all Dec contracts).
13:12
PTNR Partner Comms announces the filing of an amendment to the shelf prospectus (17.25 +0.19)
Co announces that following the receipt of a permit from the Israel Securities Authority, it has filed an amendment to the shelf prospectus dated September 3, 2009, as amended on May 23, 2010. The Amendment allows the Company to determine whether purchasers of securities that may be offered pursuant to the shelf prospectus must be residents of Israel. It is hereby clarified that securities that may be offered pursuant to the Company's shelf prospectus may not be offered or sold in the United States or to U.S. Persons without registration under the Securities Act or an applicable exemption from the registration requirements of the Securities Act.
13:11
CASY Casey's General: Alimentation Couche-Tard urges shareholders of Casey's General Stores to vote for its directors (43.55 0.00)
Alimentation Couche-Tard issued statement regarding the Casey's General Stores 2010 Annual Meeting of Shareholders scheduled to be held on September 23, 2010 and a recent report from Institutional Shareholder Services. " We believe that disclosure of 7-Eleven's preliminary, non-binding indication of interest is yet another attempt to obfuscate the choices that have been presented to the Casey's shareholders regarding the future of Casey's... Electing at least three of Couche-Tard's nominees will send a clear message to the Casey's Board that the shareholders of Casey's expect the Casey's Board to conduct a fair and full sale process designed to maximize value for all of the shareholders of Casey's and ultimately place the decision regarding the future of Casey's in the hands of the shareholders of Casey's."
13:05
AZN AstraZeneca urges increase in FDA funding for FY12 budget by 20% (52.16 +0.11)
12:58
CAT Caterpillar won long-term contract to manufacture 621G wheeled tractor scrapers for the U.S. DoD worth up to $641.2 mln (73.70 +0.52)
The five-year contract has the option of being extended for up to an additional five years. If the contract is extended for the full 10 years, the U.S. Department of Defense can potentially order up to 909 wheeled tractor scrapers.
12:52
XLF Financial Select Sector SPDR vacillating near session high and just under 200 sma/Sep peak (14.79 +0.18) -Technical-
(Click for chart).
12:51
LNET LodgeNet sees Q3 guidance at low end of prior range of EPS: ($0.14)-(0.06) vs ($0.12) Thomson Reuters consensus; revs $116-120 mln vs $115.11 mln Thomson Reuters consensus (2.80 +0.02) -Update-
12:47
AMR AMR Corp subsidary, American Airlines, expands mobile boarding passes to eight more airports (6.55 -0.02)
12:40
EIS Global, sector, & commodity ETF money flows- Israel (EIS) continues to outperform all regions here @ midday; Pressure remains in select Commodities (UNG, JO, SGG) -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
iShares Israel- EIS +2.75%, India- INP +3.0%, PIN +2.50%, homebuilders & home construction- XHB +2.0%, ITB +2.50%, RBOB gasoline- UGA +2.25%, iShares Australia- EWA +2.0%, iShares Sweden- EWD +2.0%, crude/WTI oil- USO +1.75%, OIL +2.0%, energy components- XES +1.75%, iShares Italy- EWI +1.75%, iShares S Africa- EZA +1.75%, gold/silver miners- GDXJ +1.75%, GDX +1.50%, REITS & real estate- ICF +1.75%, IYR +1.50%
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
natural gas- UNG -4.25%, coffee- JO -4.0%, sugar- SGG -1.50%, VIX vol index- VXX -1.0%, VXZ -1.0%, semis- SMH -0.75%, IGW -0.25, copper- JJC -0.50%, palladium- PALL -0.50%, Pound/Sterling currency shares- FXB -0.50%, livestock- COW -0.25%
12:31
PCLN NASDAQ 100 (NDX) strength & weakness- Internet names (PCLN, GOOG, BIDU) remain the best percentage gainers here @ midday; Smartphone maker (RIMM) remains under pressure along with Semis (XLNX, BRCM, ALTR, MRVL) -Technical-
NDX 10 Best % Performers:
PCLN, NWSA, GOOG, GRMN, APOL, PCAR, FLEX, CMCSA, ISRG, BIDU
NDX 10 Worst % Performers:
RIMM, SNDK, XLNX, BRCM, MRVL, STX, ALTR, EXPE, CTSH, LLTC
NASDAQ A/D @ +2.5:1
NASDAQ TRIN @ +1.0
12:28
AXP Dow 30 (DJX) strength & weakness- Financials (AXP, JPM) among the best percentage gainers here @ midday; Tech. name (CSCO) remains weak -Technical-
DJX 5 Best % Performers:
AXP, JPM, AA, HD, CVX
DJX 5 Worst % Performers:
CSCO, MRK
NYSE A/D @ +3.5:1
NYSE TRIN @ +0.50
12:25
AAWW Atlas Air Worldwide confirms that its subsidary, Atlast Air, has entered into new ACMI contract with TNT Airways (TNT) (48.70 +0.46)
Co confirms that that its subsidiary, Atlas Air has entered into a contract with TNT Airways, the Belgium-based aviation division of TNT, N.V. (TNT). Under the agreement, Atlas Air will provide Boeing 747-400 Freighter service for TNT's international express air network under an Aircraft, Crew, Maintenance and Insurance (ACMI) agreement.
12:23
EDMC Education Mgmt top performing school stock vacillating between Friday high and 50 sma at 11.87/12.10 -- session high 11.95 (11.94 +0.83) -Technical-
CECO, CPLA, ESI, APOL, LOPE, LINC, STRA, APEI, DV, COCO.
12:17
SPY Stock indices slip back slightly off today's new four month highs in midday trade -- Dow +94, S&P +10 Nasdaq Comp +21 -Update- -Technical-
Noted in the 11:37 update that the Dow and Nasdaq did not confirm the new intraday high in the S&P with some minor downticks seen in recent trade.
12:10
MFC Manulife Financial's asset management division, MFC Global Investment Management, appoints Jacqui Allard As Global COO (12.91 +0.24)
12:05
European Markets Closing Prices
European markets are now closed; stock markets across Europe performed as follows: UK's FTSE: +1.7% Germany's DAX: +1.4% France's CAC: +1.8% Spain's IBEX: +1.5% Portugal's PSI: -0.2%
12:03
President Obama begins his Town Hall meeting on the economy
12:00
AFFM Affirmative Insurance CEO, Kevin Callahan, resigns effective 10/1/2010; co appoints of Gary Kusumi as CEO; Callahan to remain Chairman of the Board (3.72 -0.15)
12:00
DOW Dow Chemical unit and Wageningen UR enter into agreement to use EXZACT Precision Technology (27.06 +0.34)
Dow AgroSciences and the Plant Sciences Group of Wageningen UR (University and Research center) have entered into a research agreement to study how EXZACT Precision Technology can improve the starch quality of potato, a food and industrial crop of global importance. Under the agreement, researchers at Wageningen UR in the Netherlands will study the effectiveness of using the EXZACT technology in tetraploid potato. Additional terms of the research agreement were not disclosed.
11:58
MA MasterCard sets minor new high of 216.00, its 200 ema is at 216.71 with the three month peak from Aug at 217.41 (215.77 +2.10) -Technical-
11:55
GIFI Gulf Island Fab receives letter of authorization for fabrication and integration of the topsides of a major deep-Water Gulf of Mexico project (16.68 +0.42)
Co announced, that through its subsidiary Gulf Marine Fabricators, L.P., it received a Letter of Authorization to enter into a Contract for the fabrication and integration of the topsides of a major deep-water Gulf of Mexico project. The signing of the Contract is contingent upon the sanctioning of the project at a later date. Terms of the Contract including pricing have been finalized.
11:54
GCOM Globecomm Systems announces exercise of $4.3 mln contract option by U.S. Army for the continued production of the joint IP modem (7.97 +0.19)
The contract was initially valued at $9.9 mln and included multiple options that if fully exercised over the next 16 months would value the contract at $87 mln. The exercise of this option now brings the base contract to $22.8 mln, with $64.2 mln of options remaining over the next 5 months. Pursuant to the contract, the JIPM network-centric IP modem will be the DoD standard network IP modem for use on military and commercial satellites to provide demand-based satellite communication transport services to the warfighter.
11:50
SMH Semiconductor Hldrs ETF on the defensive again, slips back toward opening low at 26.36 (26.41 -0.22) -Update- -Technical-
11:43
CYPB Cypress Biosci: Ramius sends letter to Cypress' Independent Board Members; Urges Board to take no action to attempt to block tender offer from succeeding (3.81 0.00) -Update-
Ramius owns 9.9% of shares outstanding and has launched a tender offer to purchase all of the shares it does not currently own for $4.25 per share in cash. The letters says "It is incumbent upon you, the independent members of the Cypress board, to allow shareholders to decide for themselves whether they choose to accept our offer of $4.25 per share in cash by tendering their shares to us or whether they choose to support management's strategy of depleting the Company's cash resources in pursuit of highly-speculative CNS drug development. The choice should be theirs, not yours."
11:37
UAUA UAL and Continental Airlines (CAL) will list holding company under ticker UAL following closing of the merger; expect to close merger by Oct. 1 (22.14 +0.14)
11:37
SPY New session high for S&P +12.3, Dow +107 and Nasdaq +27 have yet to confirm -Update- -Technical-
Relative sector strength during the recent S&P push has been noted in Finance XLF (GS +0.7%, 1.5% off early low), Commodity (GDX, KOL, SLX, OIH, XLE), Solar TAN.
11:12
ROC Rockwood Holdings' Chemetall increases prices for Organo Lithium products by 8% (31.17 +0.36)
11:10
COMDX Crude oil to fresh highs at $75.45; now up $1.68 to $75.33
11:08
GFI Gold Fields signs option agreement for 60% interest in Philippines gold-copper FSE project for total pre-agreed acquisition price of $340 mln (15.12 +0.29)
Co announces that it has entered into option agreements with Lepanto Consolidated Mining Company and Liberty Express Assets to acquire a 60% interest in the undeveloped gold-copper Far Southeast (FSE) deposit in the Philippines. The agreements provide co with an 18-month option on FSE, during which time Gold Fields will conduct a major drilling programme as part of a feasibility study on FSE. Co is required to pay (i) $10 mln in option fees to Lepanto; and (ii) $44 mln as a non-refundable down-payment to Liberty upon signing of the option agreements. Should Gold Fields, after a 12-month period, decide to proceed with the acquisition of the 60% interest in FSE, a further non-refundable down-payment of $66 mln will be payable to Liberty, with the final payment of $220 mln payable at the expiration of the option period. The total pre-agreed acquisition price for a 60% interest in FSE, inclusive of all of the above payments, is $340 mln.
11:00
APRI Apricus Biosciences announces confirmatory results qualifying NexACT as an anti-microbial preservative (2.30 -0.05)
Co announced that results from a United States Pharmacopeia Preservative Efficacy Test (USP PET) qualified NexACT as an anti-microbial preservative. The results show that NexACT was effective in killing more than 23 strains of bacteria, fungus and mold, well beyond the requirements for passing the USP PET. These results are supported by the Company's prior, long-term stability and microbiology data, generated from its clinical batches of Vitaros.
10:59
IYR iShares DJ Real Estate displaying relative strength as the market extends, approaching its 52-wk high from April at 55.00 -- session high 54.91 (54.90 +0.90) -Technical-
MAC, PEI, CPT, KIM, EQR, PLD, SPG, VNO, AIV, BXP, PSA.
10:58
SPY Minor new four month high for the major averages -- Dow +112, S&P +12, Nasdaq +28 -Update- -Technical-
10:53
HD Home Depot back hovering near session high of 30.50, just under 200 sma (30.48 +0.59) -Update- -Technical-
Noted the test of last week's high (30.23) in early trade with the breakout extended up near its 200 sma at 30.59.
10:52
DIA Dow +99 sets new session high of 10711, has yet to join S&P +10.8 and Nasdaq Comp +24 at new four month high -Technical-
The Dow's Aug peak is at 10719.9.
10:45
EIS Global, sector, & commodity ETF money flows- Israel (EIS) leads all regions in morning trade; Coffee (JO) & natural Gas (UNG) underperform in the commodities complex -Technical-
Actively Traded Leading Global, Regional, & Domestic Sector ETFs:
iShares Israel- EIS +2.75%, India- INP +2.50%, PIN +2.25%, homebuilders & home construction- ITB +2.25%, XHB +2.0%, internet index- FDN +2.0%, iShares S Africa- EZA +2.0%, iShares Australia- EWA +2.0%, iShares France- EWQ +1.50%, gold/silver miners- GDXJ +1.75%, GDX +1.50%, RBOB gasoline- UGA +1.50%.
Actively Traded Lagging Global, Regional, & Domestic Sector ETFs:
coffee- JO -3.50%, natural gas- UNG -2.50%, VIX vol index- VXX -2.0%, VXZ -1.0%, sugar- SGG -0.50%, livestock- COW -0.50%, semis- SMH -0.25%, US Dollar index- UUP -0.25%
10:41
WYNN Wynn Resorts sets new high of 93.95, its 52-wk high from Aug is at 93.98 (93.86 +1.94) -Update- -Technical-
10:35
BAM Brookfield Asset Mgmt closes $2.7 bln infrastructure fund (27.68 +0.29)
10:35
AMZN Amazon.com set new high of 149.86, hovering near its 52-wk close high from April at 150.09 (149.74 +1.42) -Technical-
It 52-wk intraday high from April is at 151.09.
10:30
GRMN NASDAQ 100 (NDX) strength & weakness- Internet names (GOOG, PCLN, BIDU) among the best performers in 1st hour trade; Smartphone maker (RIMM) a notable laggard -Technical-
NDX 10 Best % Performers:
GRMN, PCLN, GOOG, LINTA, CMCSA, MAT, FLEX, BBBY, BIDU, INTU
NDX 10 Worst % Performers:
RIMM, XLNX, SNDK, BRCM, BIIB, ALTR, CSCO, FSLR, MRVL, LLTC
NASDAQ A/D @ +3.0:1
NASDAQ TRIN @ +0.75
10:28
AXP Dow 30 (DJX) strength & weakness- Financial component (AXP) leads all percentage gainers in early trade; Tech. name (CSCO) lags -Technical-
DJX 5 Best % Performers:
AXP, HD, AA, DD, CVX
DJX 5 Worst % Performers:
CSCO, VZ, KFT
NYSE A/D @ +4:1
NYSE TRIN @ +0.70
10:26
QQQQ Nasdaq Comp +25 joins S&P +9.9 at new four month high as it edges above its June peak at 2341 -- session high 2343 -Technical-
10:26
COMDX Crude oil trades to highs at $74.69; now up $1.01 to $74.67
10:23
ISRG Intuitive Surgical testing Friday's high, its 50 ema and the May/July lows at 301 (300.85 +5.08) -Technical-
The next area of interest above is at 306/307 (200 ema/50 sma).
10:22
SPY Solid morning performance with S&P +9.6 breaking out of range, reaching its highest level since Mid-May -Update- -Technical-
It took a few tests but the S&P was able to break above its four month range top (1131) this morning. There is a minor congesitve resistance near 1136 (session high 1135.51) with the 62% retracement of the April to July decline coming into play at 1140 -- Click for chart.
10:12
LPTH LightPath completes $750K SBIR Phase II contract from the U.S. Navy (3.60 +0.32)
10:12
JBT JBT Corp awarded a $20.4 million contract by BARC (16.26 +0.24)
10:11
TECHX Relative sector strength on recent follow through -Update- -Technical-
Sectors that are outperforming the S&P on the latest push to fresh highs include: Housing XHB, Retail XRT, Internet FDN, Reg Bank KRE, Semi SMH, Consumer Discretionary XLY, Networking, Airline FAA, Silver SLV, Gold GLD, Transports IYT.
10:07
SPY Indices extend further, S&P +7.6 breaks out above four month range top at 1131 -- Dow +66, Nasdaq +16 -Update- -Technical-
10:03
SNEN Sinoenergy announces voluntary delisting from NASDAQ Capital Market (1.86 +0.01)
10:02
UTX United Tech unit announces U.S. State Department orders 11 more upgraded S-61 helicopters for use in Iraq and Afghanistan (69.70 +0.17)
An open IDIQ purchase agreement serves as the contracting vehicle for any U.S. Government agency to purchase upgraded S-61 aircraft. The first delivery of the 11 upgraded S-61 helicopters for Iraq and Afghanistan is scheduled to occur in mid-2011.
10:01
SAP SAP AG announces Hawaiian Electric renews energy management with company (48.31 -0.01)
10:01
SPY Limited to just slightly weaker reaction to NAHB data -- Dow +36, S&P +4, Nasdaq +6.8 -Update- -Technical-
10:00
CVX Chevron acquires deepwater exploration lease in the Turkish Black Sea (78.85 +0.39)
Co announced today that its Turkish subsidiary has signed a Joint Operation Agreement with Turkey's state oil company for an exploration license in the Black Sea. Chevron will acquire a 50 percent interest in a western portion of License 3921, an 8,700 square mile (22,505 square km) block located 220 miles (350 km) northwest of the capital city of Ankara.
09:59
TECHX Opening Point Gainers/Losers -Technical-
Point Gainers: PCLN (+9.31), GOOG (+9.13), AAPL (+4.19), INET (+4.21), CF (+3.63), NUHC (+3.49), NZ (+3.08), ROVI (+2.90), TDC (+2.69), CRM (+2.16)
Point Losers: SFUN (-4.85), RKT (-2.50), PKG (-2.44), IP (-2.06), TIN (-1.88), CREE (-1.51), SSCC (-1.55), X (-1.47), OC (-1.28)
09:58
SPY New session highs for stock indices, Nasdaq +8.2 is above Friday's high, Dow +39 is probing while S&P +4.1 hovers modestly below -Technical-
09:55
XLK Technology Select Sector SPDR testing its June/four month high at 22.62 -- session high 22.62 (22.62 +0.09) -Technical-
The next level of note above for the XLK is at 22.70/22.80 which marks the Mid-May gap -- AAPL +1.5%, GOOG +2%, HPQ +0.5%, IBM +0.5%, QCOM +0.6%, S +1.5%.
09:49
European Markets Update: FTSE +1.0%; CAC +0.5%; DAX +0.3%
Stocks in Europe are higher after the EU and IMF assured Greece they would not abandon the country at the end of its three-year bailout. Greek stocks are trading lower by 1.8% after the country announced it would delay its next round of stress tests to allow for more preparation. The sovereign debt of the UK was affirmed AAA with a stable outlook by Moody's and Germany's was affirmed AAA with a stable outlook by Fitch. Looking at the currencies...the euro was trading better than 1.3100, but is now slightly lower to 1.3042 while the pound is weaker to 1.5555. In Britain, the FTSE is +1.0% led by strength in consumer staples (+1.5%), energy (+1.4%) and telecom (+1.3%). Shares of energy giant BP are up 1.3% after the co permanently killed the Macondo well in the Gulf of Mexico.
In France, the CAC is +0.5% led by strong gains in IT (+2.3%) and energy (+1.7%). Energy co Total is trading higher by 1.7% as 29 of the index's 40 stocks are trading higher.
In Germany, the DAX is +0.3% with financials (-0.6%) and utilities (-0.5%) limiting gains. Consumer discretionary (+1.0%) is among the best performing sectors with Bayerische Motoren Werke (BMW) +2.0% as 18 of 30 stocks are trading to the plus side.
09:49
SMH Semiconductor Hldrs ETF continues to underperform, slides to new session low (26.38 -0.25) -Update- -Technical-
The SMH tested and stalled near its 50 sma on Friday with the recent downside extension of the opening slide leaving the SMH under Friday's low and back near support at its 50 ema (26.36 -- session low 26.36) -- XLNX -2.3%, ALTR -1%, INTC -0.5%, BRCM -0.9%, AMD -1.3%, TXN -1.5%.
09:46
SFUN SouFun Holdings: General Atlantic to invest $163 mln to acquire a 19% stake in SouFun Holdings Limited (68.70 -4.80)
General Atlantic announces that it has agreed to invest $163 mln to acquire a 19% stake in co at its IPO price from Telstra, the selling shareholder. GA will be partnering with Apax Partners who will invest an equal amount on the same terms.
09:43
BIDU Baidu.com posts solid gains in opening trade, the initial level of note above is at last week's Sep peak at 87.42 (87.00 +1.27) -Technical-
Its 52-wk close high from Aug is at 87.87 with the 52-wk intraday peak from Aug at 88.32.
09:38
HD Home Depot an early Dow leader, probing last week's high at 30.23, its Sep/three month high/two week range top is at 30.32 (30.19 +0.30) -Technical-
09:36
AAPL Apple hovering near its session high of 277.29, its Sep high set Friday is at 277.96 with the June/52-wk high at 279.01 (277.26 +1.89) -Update- -Technical-
09:33
SMH Semiconductor Hldrs ETF an early laggad (26.58 -0.05) -Technical-
09:31
TRIT Tri-Tech Holding wins $1 mln bid for Sinopec natural gas field project (10.10 +0.25)
Co announces that its affiliate, Beijing Satellite Science & Technology, has won a RMB 6.9 mln (~$1.03 mln) bid from the China Petroleum & Chemical (SHI) for a Phase II turnkey project of a 800M TETRA Network Communications System for use in natural gas operations in the Puguang gas field in Sichuan Province. "In only a month as a Tri-Tech affiliate, BSST has already been awarded a large gas field safety production project. This is an important further step in demonstrating Tri-Tech's expanding capabilities in the industrial pollution and safety control market, and it underscores our reasons for the strategic acquisition of BSST. They expect Tri-Tech to receive more awards like this."
09:31
GNBT Generex Biotech announces sales agreement with Elias Shaker & Company (0.47 +0.01)
Co entered into a sales agreement with Elias Shaker & Company to represent Generex's novel consumer products to national and regional retail and wholesale accounts in the USA.
09:30
QTWW Quantum Fuel selected by California Energy Commission for $4.4 million financing for solar manufacturing in California (0.46 +0.01)
The low-interest funds will go toward manufacturing equipment for the solar module facility in Irvine, CA, to implement a plant capacity of 45 megawatts annually.
09:29
CPWR Compuware announced that it has acquired DocSite; will be slightly accretive this fiscal year (8.62 )
The non-material, all-cash transaction closed on September 17, 2010, and will be slightly accretive this fiscal year. The majority of DocSite's employees, headquartered in Raleigh, NC, will join Covisint.
09:25
TEVA Teva Pharma and Active Biotech: Oral Laquinimod Demonstrated Sustained Efficacy and Safety (53.48 )
Co and Active Biotech announce results from a 36-week active extension study evaluating two doses of laquinimod, an investigational, once-daily oral immunomodulator, for the treatment of relapsing remitting multiple sclerosis. The double-blind, multinational study demonstrated the sustained positive benefit-risk profile of laquinimod, which was shown to reduce Gd-enhancing T1 lesions, while maintaining a good safety profile. Study shows 52%reduction (p=0.0006) in mean number of gadolinium-enhancing (GdE) T1 lesions. Results from pivotal Phase III studies, ALLEGRO and BRAVO, anticipated in 2011
09:21
CSA Cogdell Spencer announces appointment of Ray Braun as CEO and President (6.55 )
Co announces that the Board of Directors has appointed Raymond Braun to serve as the Company's Chief Executive Officer and President, beginning September 20, 2010. As the Company previously announced, Frank Spencer, the Company's current Chief Executive Officer and President, will end his full time leadership position as Chief Executive Officer and President of the Company but will remain as a member of the Board of Directors.
09:15
GENZ Genzyme says Japan's Ministry of Health, Labour and Welfare has approved Synvisc, indicated for the treatment of osteoarthritis of the knee (70.10 )
09:07
INET Internet Brands resumes trading and jumps 45% in premarket (9.11 ) -Update-
See 8:30 comment for details related to news that the co agrees to be acquired by Hellman & Friedman stockholders and to receive $13.35 per share.
09:07
On the Wires
Campbell Soup (CPB) announced that its Pepperidge Farm division will further reduce sodium across its portfolio of 84 breads, rolls and bagels. By February 2011, 80% (69 varieties) of these Pepperidge Farm products will be at least 25% lower in sodium than regular breads, rolls and bagels...SRA International (SRX) announced it has entered into an agreement to sell its Airport Operations Solutions group to ITT Corporation (ITT). Terms were not disclosed... Orckit Communications Ltd. (ORCT) successfully participated in the Carrier Ethernet World Congress multi-vendor interoperability testing event. Not only did the company demonstrate full IP/MPLS and MPLS-TP interoperability within the CM-4314 product, but the MPLS-TP demonstration included 1:1 LSP protection and the IP/MPLS tests ran over OSPF-TE, LDP, and RSVP-TE IP/MPLS protocols.
09:03
NUHC Nu Horizons Elec to be acquired by Arrow Electronics (ARW) in an all-cash transaction for $7.00/share (3.41 )
Co announces agreement providing for the acquisition of NUHC by ARW in an all-cash transaction in which co shareholders will receive $7.00/share. The transaction is expected to be $.05-.10/share accretive to earnings in the first full year of operations. The cos expect the transaction to close in 4Q10.
09:02
MON Monsanto initiates regular product performance update; Early indicators are demonstrating the continued performance of YieldGard VT Triple, soybean harvest is less advanced (56.23 )
Initial results suggest that Monsanto is delivering higher yields to farmers again this year, led by DEKALB corn hybrids. Highlights from the first harvest report include: Early indicators are demonstrating the continued performance of YieldGard VT Triple relative to competitive offerings... Genuity VT Triple PRO trait, Monsanto's new triple-trait technology offering, protects yield on-farm better than the competition. Agronomic evaluations conducted in 2010 indicate the Genuity SmartStax trait platform is delivering expected benefits on insect control, with more than 70 percent reduction in kernel damage versus refuge and competitive traits... This year's soybean harvest is less advanced. Monsanto is currently collecting initial reports from soybean plots harvested in the Southern region and expects to report on these findings as well as additional data over the next several weeks.
09:01
MBA CIBT Education Group says it has withdrawn its registration statement as a result of current market conditions (0.55 )
09:01
FEIC FEI announced a 4 mln share repurchase program (17.42 )
09:01
ES EnergySolutions announced appointment of William Benz as Interim Chief Financial Officer, effective immediately (5.47 )
09:00
ACPW Active Power chosen to support The University of Texas at Austin in creating green data center (1.12 )
Co announces that it has been chosen by The U of Texas's UDC to deploy co's highly efficient and reliable UPS (uninterruptible power supply) systems. The four Active Power CleanSource 900 kVA UPS systems installed provide nearly three megawatts of critical backup power to the facility.
09:00
RBY Rubicon Minerals provides update on secondary offering (4.01 )
Co made a further announcement today in connection with the previously announced overnight-marketed secondary offering by Evanachan Limited and McEwen Trading. Pursuant to the terms of the underwriting agreement, entered into on September 17, 2010 by the underwriter, the Company and the Selling Shareholders, the underwriter has agreed to purchase a total of 45,714,357 common shares of Rubicon (the "Common Shares") from the Selling Shareholders at a price of C$4.16 per Common Share for aggregate gross proceeds to the Selling Shareholders of approximately C$190,171,725. Closing is expected to occur on or about October 5, 2010 and is subject to customary closing conditions, including the issuance of a receipt for the final short form prospectus and approval of the Toronto Stock Exchange and NYSE Amex Equities.
08:59
ITT ITT Industries to acquire airport operations solutions group from SRA International (SRX) (45.70 )
Co announces it has reached a definitive agreement with SRA International (SRX) under which ITT will acquire SRA's Airport Operations Solution. The A.O.S group reported revenue of approximately $3.5 million in the 12 months ended June 30, 2010
08:54
HTZ Hertz Global subsidiary to offer $400 million aggregate principal amount of 7.50% senior notes (10.99 ) -Update-
Hertz intends to use the proceeds from the offering of the notes for general corporate purposes, which may include repayment of consolidated indebtedness or funding a portion of the cash consideration for the acquisition of Dollar Thrifty Automotive Group by Hertz Holdings.
08:45
SBGI Sinclair Broadcast subsidary announces proposed private offering of ~$250 mln Senior Unsecured Notes (7.15 )
Co announces that its wholly-owned subsidiary, Sinclair Television Group, intends to offer, ~$250.0 mln aggregate principal amount of Senior Unsecured Notes. The Notes are expected to mature in 2018 and to be guaranteed by Sinclair and certain of Sinclair's subsidiaries. The net proceeds from the private placement of Notes are intended to be used, together with available cash on hand and/or revolving debt, to repurchase all or a portion of STG's 8.0% Senior Subordinated Notes due 2012 and Sinclair's 6% Convertible Subordinated Debentures due 2012. Any net proceeds not used for the repurchases would be used for general corporate purposes.
08:45
SPAR Spartan Motors announced the sale of the assets of its Road Rescue ambulance business for $8 mln (4.22 )
Co announced the sale of the assets of its Road Rescue ambulance business for $8 mln. The purchaser, a subsidiary of Allied Specialty Vehicles, Inc., received substantially all of Road Rescue's assets, including the trade names and intellectual property associated with the business. The transaction was effective today, Sept. 20, 2010.
08:37
DFS Discover Financial Services beats by $0.10; Q3 Net charge-off (NCO) rate 7.18% vs the 7.5-8.0% guidance (15.57 )
Reports Q3 (Aug) earnings of $0.47 per share, $0.10 better than the Thomson Reuters consensus of $0.37. Provision for loan losses of $713 mln decreased $373 mln, or 34%, from the prior year, as adjusted, driven by lower charge-offs and a reduction in the allowance for loan losses. Improvement in the outlook for credit performance over the next twelve months led to a reduction in the loan loss reserve rate, which resulted in a reserve release of $187 mln in 3Q10 vs. a reserve build of $7 mln in 3Q09. Loans delinquent over 30 days continued to decline from 4Q09 peak as credit trends continue to improve. The delinquency rate was 4.16%, an improvement of 95 bps YoY and 36 bps QoQ. The net charge-off rate decreased to 7.18% for Q3, down 122 bps YoY and 79 bps QoQ. Net interest margin was 9.16%, a decrease of 79 bps from the prior year as adjusted and relatively flat QoQ reflecting the increase in lower rate student loan balances, the impact of legislative changes on credit card yield and higher funding costs.
08:36
HIG Hartford Financial discloses, in 424B7 filing, that the US Department of the Treasury offering to sell 52,093,973 warrants (22.50 )
From today's 424B7: "The United States Department of the Treasury, or the selling security holder or Treasury, is offering to sell 52,093,973 warrants, each of which represents the right to purchase one share of our common stock, par value $0.01 per share, at an initial exercise price of $9.79 per share... During the auction period, potential bidders will be able to place bids at any price (in increments of $0.10) at or above the minimum bid price of $10.50 per warrant. The minimum size for any bid is 100 warrants."
08:34
GIA Gulfstream Intl receives $8.5 million of Federal Subsidies for essential air service contracts for routes to Cleveland (0.59 )
08:32
MFA MFA Mortgage appoints Stephen Yard CFO, effective immediately (7.66 )
08:32
SILU Sprott Resource Lending says halt of trading on Sept 17 was due to technical issues involving the eligibility status of its common shares with The Depository Trust Company
Co provided clarification on the decision by the NYSE Amex to halt trading in the Corporation's common shares, shortly prior to market close on September 17, 2010. This halt was due to technical issues involving the eligibility status of the Corporation's common shares with The Depository Trust Company. This issue does not affect the trading of the Corporation's common shares on the Toronto Stock Exchange
08:31
SNY Sanofi-Aventis reports adding Lantus to oral antidiabetic drug therapy further reduced blood sugar in patients with type 2 diabetes (32.77 )
Co announced results of two studies presented at the European Association for the Study of Diabetes 46th Annual Meeting in Stockholm, Sweden. The first pooled analysis using patient-level data from randomized clinical trials demonstrated that adding Lantus (insulin glargine [rDNA] injection) to patients with type 2 diabetes, uncontrolled on oral antidiabetic drug therapy (OADs), was associated with a greater reduction in A1C levels and lower incidence of any hypoglycemia versus all comparators (OADs, NPH, lispro, premix). In the second pooled analysis of clinical studies, "patients with type 2 diabetes, who used Lantus as monotherapy or added it to one baseline oral antidiabetic agent, demonstrated a greater reduction in A1C with lower risk of hypoglycemia than those taking two OADs, with a most significant reduction when Lantus was added to metformin alone versus other OADs [sulfonylurea alone or sulfonylurea plus metformin]."
08:31
JW.A John Wiley & Sons announces a 4 mln share repurchase program (40.25 )
08:30
TGB Taseko Mines files preliminary base shelf prospectus (4.38 )
Co announces filed a preliminary short-form base shelf prospectus with the securities commissions in each of the provinces of Canada, except Quebec, and a corresponding shelf registration statement with the SEC. This allows the co to make offerings of common shares, warrants, subscription receipts, debt securities, or any combination of such securities up to an aggregate offering price of CAD300 mln during the 25-month period that the final short form base shelf prospectus.
08:30
INET Internet Brands agrees to be Acquired by Hellman & Friedman stockholders to receive $13.35 per share; transaction valued at ~$640 mln (9.11 )
Co announces that it has entered into a definitive merger agreement to be acquired by an affiliate of Hellman & Friedman Capital Partners VI, L.P. in a transaction valued at approximately $640 mln. Under the terms of the agreement, co stockholders will receive $13.35 in cash for each outstanding share of common stock they own. This price represents a premium of approximately 46.5% over the closing price on 9/17/2010.
08:23
HTZ Hertz Global announces amendments to its term loan credit facility and asset-based revolving loan credit facility (10.99 )
Co announces that its wholly owned subsidiary, The Hertz Corp, entered into an amendment to each of its term loan credit facility and asset-based revolving loan credit facility. The amendments provide Hertz the flexibility to opportunistically refinance its outstanding debt to lower interest expense. In addition, the amendment would facilitate the anticipated divestiture of the Advantage Rent A Car business in connection with Hertz Holdings' pending acquisition of Dollar Thrifty Automotive Group, carve out a Dollar Thrifty insurance related subsidiary from certain credit agreement restrictions and provide for an additional $150 million of acquisition capacity under the Term Facility.
08:20
ZBB ZBB Energy awarded contract to Supply UWM's new energy lab with renewable energy technology (0.49 )
Co announces it has been awarded a competitive bid contract from the University of Wisconsin - Milwaukee (UWM) to supply the energy lab at UWM's College of Engineering & Applied Science with ZBB's advanced energy power and storage solutions. ZBB's cutting-edge technology will be used by a multi-university team of researchers conducting renewable energy studies for the Wisconsin Energy Research Consortium.
08:17
VITA Orthovita provides 24-month data from Cortoss clinical pilot studies in Vertebroplasty and Kyphoplasty (1.85 )
Co announces publication of "Clinical Experience Using Cortoss for Treating Vertebral Compression Fractures with Vertebroplasty and Kyphoplasty" in the 9/15/10 edition of Spine. The paper concludes that based on the results of these pilot studies: Cortoss is safe and effective in treating osteoporotic VCFs using either vertebroplasty or kyphoplasty and VCF pain relief and functional restoration achieved with Cortoss is comparable to the results reported in the literature for VCFs treated with polymethylmethacrylate.
08:12
On the Wires
Vringo (VRNG) announced the signing of an agreement with Tiesto to co-develop new video ringtone content...Electronic Arts Inc. (ERTS) announced an advertising relationship with T-Mobile USA that delivers promotional content from several leading EA titles, enabling consumers to download free premium content enhancing their game playing experience...VERMILLION (VRML) announced that its OVA1 Test is now CE marked, which is a requirement for marketing the test in the European Union.
08:08
LFT Longtop Financial won a contract to develop a customized Wealth Management IT system (36.47 )
Under the terms of the contract, Longtop will develop a fully integrated system that provides all front, middle and back office support services required by the customer.
08:06
HOLI HLS Systems announces adoption of shareholder rights agreement (10.38 )
Co announces that its board has approved the adoption of a shareholder rights agreement effective 9/27/10. The purpose of this is to protect shareholders against attempts to acquire control of the co by means of hostile takeover tactics and to encourage cooperation with current management and ensures that takeover attempts are friendly and beneficial to all the shareholders.
08:06
GSX Gasco Energy Automatically Converts 30% of 5.50% Convertible Senior Notes Due 2015 Into Series C Convertible Preferred Stock (0.30 )
Company will effect the automatic conversion of a portion of the outstanding principal amount of the Company's outstanding 5.50% Convertible Senior Notes due 2015. As of the Automatic Conversion Date, Notes in an aggregate principal amount of $64,532,000 were outstanding. On the Automatic Conversion Date, an aggregate principal amount of Notes equal to 30% of the aggregate principal amount of outstanding Notes shall convert automatically into that number of fully paid and non-assessable shares of the Company's Series C Convertible Preferred Stock obtained by multiplying the principal amount of the Notes to be so converted by 0.01579, such that each $1,000 of Notes to be converted shall be converted into 15.79 shares of Series C Convertible Preferred Stock.
08:05
PPHM Peregrine Pharma provides update on government-sponsored research program; 2 yr base period extended by additional 6 months to expand evaluation of Bavituximab in advanced models of viral hemorrhagic fever (1.39 )
Co announces an update on its government contract with the Transformational Medical Technologies program of the U.S. Department of Defense's Defense Threat Reduction Agency. The two-year base period has been extended by six months to March 2011, and includes approximately $2.4 million in additional funding, to continue studying Peregrine's phosphatidylserine-targeting antibodies to reach proof of concept in advanced preclinical models of viral hemorrhagic fever infections.
08:04
KTOS Kratos Defense and Security awarded new $3.6 million Department of Education task order (10.80 )
08:03
GRS Gammon Gold reports an initial 127,750 gold equivalent ounces in Proven and Probable Reserves at three new discoveries made at Ocampo (7.46 )
Co reports initial 127,750 gold equivalent ounces in Proven and Probable Reserves at three new discoveries made at Ocampo. These three new deposits have been discovered through the first phase drilling program during the 1H10.
08:02
SRE Sempra Energy, RBS agree to sell retail commodity operations to Noble Group for $317 mln in cash, plus assumption of $265 mln in debt (53.08 )
Co and The Royal Bank of Scotland (RBS) announce that Noble Group Ltd. has agreed to acquire the San Diego-based Sempra Energy Solutions unit of the RBS-Sempra Commodities joint venture for $317 mln in cash, plus assumption of $265 mln in debt.
08:02
CVE Cenovus Energy receives regulatory approval to expand its Foster Creek oil sands operation (27.01 )
Co announces that it has taken a significant step forward in the expansion plans for its Foster Creek oil sands operation after receiving regulatory approval from the Alberta Energy Resources Conservation Board. The approval covers three phases of expansion, which are expected to increase Foster Creek's production capacity to 210,000 barrels per day (bbls/d) from the current 120,000 bbls/d.
08:02
GSX Gasco Energy names Chuck Crowell Chairman of Board and King Grant CEO and Director, effective immediately (0.30 )
08:01
GTEC Global Defense Technology & Systems names Joseph Cormier EVP & CFO (12.70 )
Co announces that Joseph Cormier will become the co's EVP & Chief Financial Officer effective 10/1/10. James Allen, GTEC's current EVP & CFO will transition to a part-time employee and become a senior advisor to the co. Cormier joined co in Jan 2010 as SVP of Finance.
08:01
NZ Netezza to be acquired by IBM for $27/share (24.55 )
Co announces it will be acquired by IBM, in a cash transaction at a price of $27 per share or at a net price of ~$1.7 bln, after adjusting for cash. Netezza will expand IBM's business analytics initiatives to help clients gain faster insights into their business information, with increased performance at a lower cost. Transaction is expected to close in 4Q10. Briefing.com note: Premium is just 9.8%, but we would note that NZ is up ~65% since late August; stock ran ~33% following blowout Q2 results on August 26 and has run on takeover speculation since then.
07:54
HYGS Hydrogenics announced award of an electrolyzer and related equipment and services for a fueling station in Belgium (4.06 )
07:54
On the Wires
The Western Union Company (WU) announces their intention to expand their cooperation to introduce international business payment services to DHL customers throughout Europe. The two companies plan to extend their successful alliance, which currently covers offering the Western Union Money Transfer service in Latin America and the Caribbean, to DHL's 5,000 locations in Europe...TechTeam Global (TEAM) has become an authorized reseller of the Google (GOOG) Apps Premier Edition suite of communication and collaboration tools, and will provide services to help customers implement and use the toolset...Gran Tierra Energy Inc. (GTE) announces it has entered into an agreement to farm into 3 blocks operated by Burlington Resources Peru Limited, Sucursal Peruana, a wholly owned subsidiary of ConocoPhillips Company. Under the agreement, Gran Tierra Energy will acquire a 20% working interest in blocks 123, 124 and 129, which are located in the Maranon Basin and are contiguous to Gran Tierra Energy's blocks 122 and 128.
07:48
BP BP confirms well kill at MC252; will now proceed to complete the abandonment (38.02 )
Over the weekend, BP confirmed that it has successfully killed MC252, permanently putting an end to one of the worst oil spills in decades. According to BP, "the MC252 well has been shut-in since July 15 and cementing operations in August, following the static kill, provided an effective cement plug in the well's casing. The relief well drilled by the DDIII drilling rig intercepted the annulus of the MC252 well on September 15, followed by pumping of cement into the annulus on September 17. BP, the federal government scientific team and the National Incident Commander have now concluded that these operations have also successfully sealed the annulus of the MC252 well... BP will now proceed to complete the abandonment of the MC252 well, which includes removing portions of the casing and setting cement plugs. A similar plugging and abandonment of both relief wells will occur as well." The cost of the accident has totaly approx $9.5 bln, which includes costs of the spill response, containment, relief well drilling, static kill and cementing, grants to the Gulf states, claims paid and federal costs.
07:43
MMR McMoRan Expl updates in-progress exploration activities in the shallow waters of the Gulf of Mexico (14.57 )
Co announces The Blackbeard East ultra-deep exploration well commenced drilling on 3/8/10 and is currently drilling below 24,800 feet. Recent drilling results have indicated that the well encountered several sands below 24,100 feet. On 4/7/10 co commenced drilling the Davy Jones offset appraisal well on South Marsh Island Block 234. The well has been drilled to 15,125 feet and co is currently setting an 11 7/8 inch liner. The well has a proposed total depth of 29,950 feet.
07:36
MMR McMoRan Expl announces private placement of $900 mln in convertible securities to be issued upon completion of gulf of mexico property acquisition (14.57 ) -Update-
Co announces it will privately issue $900 mln in convertible securities upon completion of its acquisition of Plains Exploration & Production (PXP) shallow water Gulf of Mexico (GOM) shelf assets. The private placement will include $200 mln of 7-year 4% Convertible Senior Notes and $700 mln of 5 3/4% Convertible Perpetual Preferred Stock. A group of institutional investors has agreed to purchase 44% of the securities and Freeport-McMoRan (FCX) has agreed to purchase 56% of the securities. The private investors will purchase the Notes and $200 mln of the Preferred Stock and FCX will purchase $500 mln of the Preferred Stock. The proceeds from the sales of the convertible securities will be used to fund future capital expenditures associated with McMoRan's expanded asset base and for general corporate purposes.
07:35
LPNT Lifepoint Hospitals announces proposed offering of $400 mln of Senior Notes (35.58 )
Co announces its intention to sell through a private offering $400 mln in aggregate principal amount of Senior Notes due 2020. The Company intends to use the net proceeds of the offering to repay $249.2 mln principal amount of Term B loans outstanding under its senior secured credit facilities and for general corporate purposes, which may include the repurchase of its outstanding common stock from time to time pursuant to its 2010 stock repurchase plan.
07:34
SRI Stoneridge announces it will sell up to $175 mln of sr secured notes; announces amendment to asset-based credit facility (9.11 )
The Company intends to use the proceeds of the offering of the notes and cash on hand to repurchase its 11-1/2% Senior Notes Due 2012 tendered pursuant to a tender offer and related consent solicitation announced today and to pay fees and expenses associated with the transactions. The co also announced that it has commenced a tender offer to purchase for cash any and all of its 11-1/2% Senior Notes Due 2012. The co also announced that it has entered into an Amended and Restated Credit and Security Agreement relating to its existing asset-based credit facility, which will become effective upon the completion of the private offering of its senior secured notes due 2017 announced today.
07:32
PXP Plains Exploration: McMoRan Exploration (MMR) to acquire Gulf of Mexico shallow water shelf properties from Plains Exploration & Production (PXP) (26.90 )
McMoRan (MMR) announces an agreement to acquire PXP's shallow water Gulf of Mexico shelf assets for a combination of stock and cash. Under the terms of the transaction, McMoRan will issue 51 mln shares of MMR common stock and $75 mln in cash to acquire all of PXP's interests and exploration rights in the shallow waters of the shelf of the GOM.
07:31
FCX Freeport-McMoRan to invest $500 mln in McMoRan Exploration (MMR) (81.72 )
Co agrees to purchase $500 mln of 5 3/4% Convertible Perpetual Preferred Stock of McMoRan Exploration Co. (MMR) in connection with MMR's proposed oil and gas property acquisition from Plains Exploration & Production Company (PXP). The Preferred Stock is convertible into MMR common stock at a conversion price of $16 per share. A group of institutional investors has also agreed to concurrently Preferred Stock is convertible into MMR common stock at a conversion price of urchase $400 mln in convertible securities, including a portion of the Preferred Stock, of MMR.
07:31
GWW WW Grainger's Acklands-Grainger acquires Solus Securite effective September 17, 2010 (118.74 )
Solus Securite is a fire protection and safety distributor in Quebec with locations in Trois Rivieres, Victoriaville, Montreal and Sorel had 2009 sales of ~C$20 million. Terms of the deal were not disclosed.
07:30
LCRD LaserCard receives $2.8 mln order for Costa Rica foreign resident cards; Delivery expected to be completed by the end of December 2010 (4.09 )
07:30
IMAX IMAX and Rave Motion Pictures sign joint venture deal for 13 IMAX theatres (15.13 )
07:30
VZ Verizon clarifies succession plans; names Lowell McAdam as COO (31.68 )
Verizon Wireless President and CEO Lowell C. McAdam has been named president and chief operating officer of Verizon Communications (VZ) effective Oct. 1, 2010. Separately, Verizon named Francis J. Shammo, currently president of Verizon Telecom and Business, to become executive vice president and chief financial officer of the company, effective Nov. 1. Shammo will succeed John F. Killian, who last Monday announced he will retire around the end of the year. Verizon also announced that Daniel S. Mead, currently executive vice president and chief operating officer at Verizon Wireless, will become president and chief executive officer of Verizon Wireless, succeeding McAdam.
07:15
ORA Ormat Tech received $108 mln cash grant under the 1603 Program (29.11 )
Co announces that it has received $108.2 mln for Specified Energy Property in Lieu of Tax/Credits relating to its North Brawley geothermal power plant under Section 1603, Division B of the American Recovery and Reinvestment Act of 2009. "The funding we received today will go toward our continued expansion, including the construction of new projects that will be eligible for future funding under the ITC cash grant program."
07:13
CHTR Charter Comm subsidary to issue $750 mln of Senior Notes (34.50 )
Co announces that its subsidiary, CCO Holdings, LLC, intends to offer for sale an aggregate of $750 mln principal amount of Senior Notes due 2017. The net proceeds of this proposed issuance will be used (i) to repay borrowings under one or more term loan portions of Charter Communications Operating credit facilities, and (ii) for general corporate purposes. Concurrently with the offering of the 2017 Notes, the Company's subsidiaries, Charter Operating and Charter Communications Operating Capital Corp. ("CCO Capital") have commenced an optional prepayment offer to prepay up to $750 mln of Term B-1 loans ($3.3 bln aggregate principal amount) under the Amended and Restated Credit Agreement.
07:11
RAE RAE Systems to be acquired by Battery Ventures for $1.60/Share (1.04 )
Co announces it signed a signed a definitive agreement to be acquired for $1.60/share in cash by an affiliate of Battery Ventures The purchase price represents a premium of ~53.8% over co's closing share price on 9/17/10. There is no financing condition to the transaction.
07:06
OC Owens Corning updates expectations based on U.S. roofing market demand; comfortable with prior guidance that Roofing EBIT margins will exceed 20% for Q3 and FY10 (24.76 )
Despite lower demand, the company's Roofing business has continued to perform well. The company remains comfortable with its prior guidance that Roofing EBIT margins will exceed 20 percent for the third quarter and also for full-year 2010. In addition, the company's two other major businesses, Insulation and Composites, are performing in line with prior guidance. Owens Corning previously stated that it was on track to deliver as much as $450 million in adjusted EBIT in 2010. The company believes that, based on its revised outlook for U.S. roofing market demand, the higher end of the guidance is no longer achievable. The company expects that its 2010 adjusted EBIT will grow significantly from 2009.
07:05
On the Wires
Micromet, Inc. (MITI) announces the initiation of a phase 2 trial of the Company's lead product candidate blinatumomab in adult patients with relapsed or refractory B-precursor acute lymphoblastic leukemia. Blinatumomab is the first of a new class of agents called BiTE antibodies, designed to harness the body's T cells to kill cancer cells...Beacon Power (BCON) is appealing the Nasdaq Staff's determination. The appeal will stay the delisting of the Company's common stock from The Nasdaq Capital Market until a hearing is completed and the listing qualifications panel issues its written decision. The Company expects this process to take 8-12 weeks...Callidus Software (CALD) announced that a provider of equipment and services for petroleum retailers has selected the Callidus Sales Performance Management suite, the Monaco release, to manage its sales incentive and compensation programs in the United States. The agreement was signed in the third quarter of 2010.
07:05
CRA Celera signs agreement with Abbott (ABT) for distribution of CE-marked KIF6 test to identify patients at risk of coronary heart disease (6.88 )
Cos signed an exclusive distribution agreement to market Celera's CE-marked KIF6 diagnostic test for use on Abbott's CE-marked m2000 instrument system. Under the 4-year agreement, Celera will manufacture the KIF6 test kit that Abbott will distribute in the European Union, other geographic areas that recognize the CE mark, and elsewhere worldwide, excluding the U.S. Financial details of the agreement were not disclosed.
07:04
WEBM webMethods announces acquisition of the Semantic Technology Conference (SemTech) and Semantic Universe Blog (0.75 )
Co announces that it has acquired all of the assets of the Semantic Technology Conference and the SemanticUniverse.com blog from Wilshire Conferences. Terms of the transaction were not disclosed. Co says "... We expect that this acquisition will be accretive to our earnings and cash flows..."
07:02
SIRO Sirona Dental Systems appoints Jeffrey Slovin to President (36.29 )
07:02
MGAM Multimedia Games names Patrick Ramsey President and Chief Executive Officer (3.85 )
<p>Patrick Ramsey who has served as Interim Chief Executive Officer since March 2010 and as Chief Operating Officer since September 2008, has been appointed President and Chief Executive Officer.
07:02
FMCN Focus Media announces repurchase of ~9.5 mln ADSs from Fosun International at $21 per ADS, totaling $200 mln (21.88 )
Co signs a definitive agreement with Fosun International pursuant to which co will repurchase from Fosun International 9,523,810 ADSs, each representing five ordinary shares of co at a price of $21 per ADS (or US$4.2 per ordinary share), totaling $200 mln through a privately negotiated transaction. Inclusive of this block repurchase, co has to date cumulatively spent ~$237 mln in share repurchases on its previously announced share repurchase program.
07:02
ICFI ICF International awarded $31.8 mln health informatics contract to support FDA (23.04 )
ICF International (ICFI) has been awarded a $31.8 mln re-compete contract by the U.S. Food and Drug Administration to provide information technology and scientific support services to the National Center for Toxicological Research. The contract has a term of approximately five years, including four option years.
07:02
ALTI Altair Nanotechnologies: Canon Investment Holdings plans to invest $48.9 mln in Altair Nanotechnologies. (0.69 )
Co announces that it reached a definitive agreement whereby Canon Investment Holdings would purchase newly issued common shares of co resulting in 51% of co's fully diluted common shares immediately following closing. Canon has agreed to purchase approximately 125,917,996 shares at $0.3882/share, providing $48.9 mln in proceeds to fund the contemplated establishment of a lithium-titanate manufacturing facility in China and co's working capital requirements and operations in the US.
07:02
ATHX Athersys announces data showing neuroprotective effects of multistem therapy for traumatic brain injury (3.24 )
Co announces the publication of a key study in the October issue of Experimental Neurology conducted by researchers at Athersys, the University of Texas Medical School, the Michael DeBakey Institute for Comparative Cardiovascular Science and Biomedical Devices, and Texas A&M University. This study demonstrates that intravenous injection of MultiStem, Athersys' multipotent adult progenitor stem cell therapy product, provides neurovascular protection after traumatic brain injury (TBI) in an established preclinical model of brain injury. The publication outlines how the administration of MultiStem enabled the preservation of the "blood brain barrier", and also reduced the effects and extent of the brain injury.
07:01
MYRX Myriad Pharma presents key findings from its cancer metabolism inhibitor, MPC-9528; reports MPC-9528 is a potent and selective inhibitor (3.82 )
Co announces evidence demonstrates that treatment with MPC-9528 results in significant tumor growth inhibition and that the co-administration of niacin improves the therapeutic index of MPC-9528. Additionally, a large panel of tumor cell lines and primary human tumor tissue indicate that approximately 40% of all cancers may carry a biochemical defect making them respond well to the combination of niacin and MPC-9528 treatment.
06:58
S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +8.80.
06:57
Asian Markets
Nikkei...Holiday......... Hang Seng...21977.34...+6.50...0.00.
06:57
European Markets
FTSE...5572.05...+63.60...+1.20%. DAX...6247.06...+37.30...+0.60%.
06:56
BEST Shiner: CEO's 2010 progress letter to shareholders (1.02 )
Co sent a letter from CEO Qingtao Xing to shareholder: "During the first six months of 2010, the Company saw its business grow to more than 60 customers, with sales in excess of 800 tons of coated films, anti-counterfeit film, and tobacco film. As such, we decided that it was necessary to make investments in our operations and distribution to improve production and quality control, and position ourselves to gain market share both in China and internationally... FWe completed phase 1 of construction on our new manufacturing facility in Hainan in April 2010 and have successfully begun operations... We will have opened sales offices in Shanghai by the end of the third quarter, and in Hong Kong by the end of the fourth quarter, of this year... By the end of 2011, we plan to open at least six sales offices in China and eight sales offices overseas, in North America, Europe and Australia..."
06:48
MTL Mechel Steel signs a $471.2 mln facility to finance construction of the universal rolling mill at its Chelyabinsk Metallurgical plant subsidiary (23.95 )
Co announces it has signed a loan agreement to finance a universal rolling mill installation project at its Chelyabinsk Metallurgical Plant OAO (CMP OAO) subsidiary. The new $471.2 mln Senior Term Loan facility, entirely fronted by BNP Paribas S.A., consists of three tranches underwritten by BNP Paribas S.A., GPB (OJSC) and UniCredit Corporate Banking S.p.A. GPB (OJSC)'s tranche is $219.4 mln, BNP Paribas S.A.'s tranche is EUR102.8 mln, UniCredit Corporate Banking S.p.A.'s tranche is EUR89.2 mln.
06:40
On the Wires
PAREXEL (PRXL) announces strategic functional service provider relationship with Eli Lilly (LLY) for clinical development in Asia/Pacific Region...Gran Tierra Energy (GTE) expands exploration portfolio in Peru...Acacia Research (ACTG) enters into license agreement with U.S. Cellular.
06:33
CHTP Chelsea Therapeutics reports phase III trial of Northera met primary endpoint and achieved highly significant symptomatic benefits in Neurogenic Orthostatic Hypotension (5.06 )
06:33
MMS MAXIMUS authorizes $100 mln expansion of share repurchase program (57.36 )
Co announces increase of of its share repurchase program to $100 mln. The Board approved a $75 mln share repurchase program in 2008, of which $22.3 mln remained available at 9/15/10.
06:33
PMTC Parametric appoints Jeffrey Glidden as Executive VP and CFO effective 9/27/2010 (18.74 )
06:31
LEN Lennar beats by $0.11, beats on revs (13.99 )
Reports Q3 (Aug) earnings of $0.16 per share, $0.11 better than the Thomson Reuters consensus of $0.05; revenues rose 14.5% year/year to $825 mln vs the $777.5 mln consensus. Revenues were higher primarily due to a 9% increase in the number of home deliveries, excluding unconsolidated entities. The average sales price of homes delivered increased to $240,000 in the third quarter of 2010 from $239,000 in the same period last year. Sales incentives to home buyers were 11.3% of home sales rev vs. 15.0% last yr. Gross margin on home sales was 21.1% vs. 7.8% last yr.
06:19
IFN India Fund reports final results of Semi-Annual repurchase offer of $37.2694 (36.02 )
06:16
GGP Gen Growth Prop reaches agreement with heirs of Howard Hughes regarding Summerlin Development (15.08 )
Co announces it has reached an agreement to settle its dispute with the heirs of Howard Hughes regarding the Summerlin planned community in Las Vegas, NV. Under the terms of the agreement, co will pay $230 mln to the Hughes heirs in exchange for a full release and settlement of all claims against co and its affiliates. The amount will be paid shortly after co's emergence from bankruptcy. $10 mln will be paid in cash and the remaining $220 mln may be paid either in cash or in shares of new GGP common stock at the election of the co.
06:14
CRNT Ceragon acquires Elxys Innovations for 1.6 mln (9.54 )
Co announces acquisition of Elxys Innovations for 1.6 mln. It has been a long-time design partner and strengthens co's leadership position in high-capacity radio technology.
06:09
BMY Bristol-Myers and AstraZeneca (AZN) show results of Phase 3 Study of Dapagliflozin (27.31 )
Co and AZN announce the results of 24-Week Phase 3 study finding investigational drug Dapagliflozin improved glycosylated hemoglobin when added to glimepiride in adults with Type 2 Diabetes Mellitus.
06:06
PBH Prestige Brands to acquire Blacksmith Brands (7.82 )
Co announces it has entered into a definitive agreement to acquire 100% of the stock of Blacksmith Brands for $190 mln cash. It is is expected to close during the 4Q10. The acquisition is expected to be accretive to co's earnings per share in FY12 and provides excellent long-term growth opportunities for both sales and earnings.
04:49
ORCL Oracle unveils new products at conference (27.48 )
Co introduces 4 major products including: Exalogix, Unbreakable Enterprise Kernel (co's preferred Linux platform) Exadata OLTP machine, and Fusion Applications (available in a controlled release in 1Q11).
03:26
LDK LDK Solar signs memorandum of understanding with national renewable energy laboratory (8.02 )
Co announces the signing of a memorandum of understanding with the DOE's National Renewable Energy Laboratory for collaborative research and development activities related to silicon materials and photovoltaic devices.
02:49
FNSR Finisar acquires Broadway Networks (17.53 )
Co announces it it has acquired Broadway Networks for an undisclosed sum in an all-cash transaction. Co indicated that the acquisition is not expected to have a significant impact on revenue or earnings in the near term.
02:41
ID L-1 Identity Solutions to be acquired by Safran for $12.00/Share; sells its Intelligence Services Group to BAE Systems (9.70 )
Co announces it has entered into an agreement to be acquired by Safran in a merger transaction providing for stockholders to receive $12.00/share in cash. The per share consideration incorporates the purchase price to be received pursuant to the sale of the L-1 intelligence services businesses to BAE Systems prior to closing. The per share price represents a premium of 24% co's closing stock price on 9/17/10. As mentioned, co also announces it sold its Intelligence Services Group for a total price of $295,833,000.
02:29
NDAQ NASDAQ launches first US Equity Price-Size Exchange (19.43 )
Co announces it will launch NASDAQ OMX PSXsm on 10/8/10. The platform, which will be operated as a facility of the NASDAQ OMX PHLX exchange, has been approved by the SEC.
02:26
OXBT Oxygen Biotherapeutics ammends existing contract with US Navy (2.50 )
Co announces it has amended an existing CRADA with the US Navy to to include preclinical trials using swine models to assess the safety and efficacy of co's Oxycyte perfluorocarbon emulsion for spinal cord injury due to decompression sickness and for hemorrhagic shock. The protocol for the spinal cord injury trial will measure safety and efficacy of Oxycyte in conjunction with recompression therapy.
02:19
On the Wires
Compellent (CML) introduces Storage Center 5 in Australia due to strong channel partner and customer momentum...Western Union (WU) and DHL announce intent to expand their cooperation services into Europe...Eastman Kodak (EK) unveils revolutionary new PYNK smart print system. Early consumer acceptance signals solid profit opportunity with new photo category...Hain Celestial (HAIN) launch its co-branded Earth's Best and Zhi Ling Tong organic infant formula in China...Finisar (FNSR) expands WaveShaper family of programmable optical processors by Introducing Flexgrid Operation and Programmable Channel Selector...Abovenet (ABVT) expands to key european markets in which customers in the US, London, Frankfurt, Amsterdam and Paris will be able to connect seamlessly over a dedicated, high bandwidth network...Lattice Semi (LSCC) announces low cost programmable SPI-4.2 solution...Qiao Xing Universal (XING) announces extension of time for Qiao Xing Mobile (QXM) to respond to its proposal to acquire all outstanding shares of QXM to 9/22/10.
01:33
CEL Cellcom Israel receives Supreme Court issue prohibiting radio access devices construction relying on exemption from building permit (28.60 )
Co announces that that the Israeli Supreme Court issued an interim order prohibiting further construction of radio access devices in cellular networks, in reliance on the exemption from the requirement to obtain a building permit. The inability to rely on or substantial limitation of the exemption could adversely affect the co's existing network particularly given the objection of some local planning and building authorities to grant due permits where required, and consequently may adversely affect the co's results of operations.
01:28
CYPB Cypress Biosci: Ramiums sends letter to CYPB board urging board not to block tender offer (6.00 )
Co's board receives letter from 9.9% owner Ramius Value and Opportunity Advisors imploring the board to allow shareholders to decide on the future of the co. Ramius has launched a tender offer to purchase all of the shares it does not currently own for $4.25/share in cash.
01:22
NVSL Naugatuck Valley Financial and Southern Connecticut Bancorp (SSE) amend acquisition agreement (6.45 )
Co and SSE announce that they have amended certain terms of their Agreement and Plan of Merger dated as of February 22, 2010, providing for NVSL's acquisition of SSE. Under the amended agreement, SSE shareholders will be entitled to receive $6.75/share of SSE common stock owned. SSE shareholders will be able to elect to receive cash, shares of common stock of NVSL or a combination of cash and common stock of New NVSL. The parties have agreed to amend the pricing terms in light of changed circumstances, particularly weakened stock market conditions, since the date of the original agreement. The acquisition is expected to be completed in the Q4 of 2010 or in early 2011.
16:41
GAS Nicor Subsidiary to acquire shipping business (44.20 +0.02)
Co announces that a subsidiary of Birdsall, has signed a definitive agreement to acquire the assets of V.I. Cargo Services. Terms of the agreement were not announced. Birdsall, Inc. is the parent company of Tropical Shipping.
16:40
PXG Phoenix Footwear announced the resignation of its Chief Executive Officer and President, Russell Hall (0.35 0.00)
Co announced the resignation of its Chief Executive Officer and President, Russell Hall, effective September 10, 2010. James R. Riedman has been elected Chief Executive Officer and President, effective immediately. Mr. Riedman, age 51, has served on our Board of Directors since 1993 and has been Chairman of our Board of Directors since 1996. He served as our Chief Executive Officer from 1996 to 2004 and as interim Chief Executive Officer from May 2006 to April 2007.
16:30
APP American Apparel announces NYSE Amex acceptance of plan of compliance (1.46 +0.21)
Co announced that it received a letter from the NYSE Amex LLC (the "Exchange") that the Exchange accepted the company's updated plan of compliance and, pursuant to such plan, has granted the company an extension until November 15, 2010 to regain compliance with its continued listing standards.
16:23
DEXO Dex One appoints new non-executive Chairman (11.51 +0.89)
Co announced that Jonathan B. Bulkeley, a member of the company's Board of Directors, will succeed Alan F. Schultz as non-executive chairman of the Board of Directors. Schultz will remain on the Board.
16:23
RBC Regal-Beloit announces the appointment of Charles Hinrichs as Vice President and CFO, effective September 20, 2010. (60.90 +0.53)
16:19
YHOO Yahoo! issues statement regarding Alibaba (13.89 -0.30)
Co stated "Our investment as a shareholder in Alibaba Group is strategic and a great one for our company and our shareholders... As an investor, Yahoo! has no operational control in the Group and we're very supportive of the operational direction Jack Ma and his team are taking the Group. Jack is clearly one of the most impressive entrepreneurs of our time. We are not going to comment on any private discussions we may or may not have with our strategic partners. As with all matters like this, any decisions regarding this investment would be driven by what will create the most value for our shareholders."
16:17
DHIL Diamond Hill Investment announced that its board of directors has approved a $13.00 per share cash dividend (60.36 +1.21)
16:05
OFC Corporate Office Properties Trust Board of Trustees elects Roger A. Waesche, Jr. as President and COO (37.85 +0.16)
Co announced that its Board of Trustees, as part of an ongoing personnel development and succession program, elected Roger A. Waesche, Jr. as President, in addition to his current duties as Chief Operating Officer (COO). Randall M. Griffin, currently President and Chief Executive Officer (CEO), will continue in his role as CEO. The change in responsibilities is effective immediately.
16:01
ROMA Roma Financial announces stock repurchase of up to 5% of its outstanding shares (10.40 +0.19)
16:00
TCX Tucows announces commencement of Dutch Auction tender offer to repurchase up to 2.9 mln common shares (0.67 0.00)
Co announces that it is commencing a modified "Dutch auction" tender offer to repurchase up to 2.9 mln shares of its common stock, representing approximately 5.1% of Tucows' outstanding shares. The closing price of Tucows common stock on the NYSE Amex on 9/16/ 2010 was $0.67.
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Keller Rohrback L.L.P. Investigates Prudential Financial, Inc. Regarding Retained Asset Accounts, Including Prudential’s Alliance Account
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