Briefing.com: Hourly In Play (R) – 21:00 ET
Feb 10, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 10-Feb-10 21:00 ET
18:35
R Ryder announces new $100 mln share repurchase program (33.21 -0.19)
18:13
HOLI HLS Systems reports in-line; reaffirms FY10 revs in-line with consensus, reaffirms net income (11.96 +0.01)
Reports Q2 (Dec) earnings of $0.16 per share, in-line with the First Call consensus of $0.16; revenues fell 12.1% year/year to $46.2 mln vs the $51.8 mln consensus. Co reaffirms FY10 revs of $185.9-192.2 mln vs. $188.6 mln consensus. Co also reaffirms FY10 net income of $30.3-31.4 mln.
18:07
DVA DaVita reports EPS in-line, revs in-line (60.82 -0.38)
Reports Q4 (Dec) earnings of $1.06 per share, in-line with the First Call consensus of $1.06; revenues rose 7.3% year/year to $1.57 bln vs the $1.58 bln consensus. Co says, "Currently we still expect our operating income for 2010 to be in the range of $950-1,020 million and we also expect our operating cash flows for 2010 to be in the range of $675-725 mln."
18:05
HIW Highwoods Prop beats by $0.01, reports revs in-line; guides FY10 FFO in-line (27.53 -0.16)
Reports Q4 (Dec) funds from operations of $0.60 per share, $0.01 better than the First Call consensus of $0.59; revenues fell 0.6% year/year to $113.7 mln vs the $114.4 mln consensus. Co issues in-line guidance for FY10, sees FFO of $2.34-2.49 vs. $2.41 consensus.
17:53
BCR C.R. Bard: NEJM publishes trial results demonstrating Bard FLAIR endovascular stent graft is superior to balloon angioplasty for failing dialysis grafts (81.01 -0.35)
Co announced the publication of trial results by The New England Journal of Medicine showing the Bard FLAIR Endovascular Stent Graft maintains the patency of dialysis access grafts more effectively than balloon angioplasty alone. The FLAIR Endovascular Stent Graft is the only implant approved by the U.S. Food and Drug Administration for use in the treatment of stenoses at the venous anastomosis of ePTFE or other synthetic arteriovenous access grafts.
17:53
PL Protective Life beats by $0.45 (17.22 +0.42)
Reports Q4 (Dec) earnings of $1.51 per share, excluding non-recurring items, $0.45 better than the First Call consensus of $1.06.
17:45
PNC PNC completes TARP repayment (51.28 +0.22)
Co announced that it has redeemed $7.6 bln of Series N preferred shares held by the United States Treasury under the Troubled Asset Relief Program's Capital Purchase Program.
17:42
EGP EastGroup reports EPS in-line, revs in-line; guides FY10 FFO below consensus (35.32 -0.22)
Reports Q4 (Dec) funds from operations of $0.75 per share, in-line with the First Call consensus of $0.75; revenues fell 2.5% year/year to $42.8 mln vs the $43 mln consensus. Co issues downside guidance for FY10, sees FFO of $2.75-2.95 vs. $2.97 consensus.
17:36
BSX Boston Scientific rebuts HeartRhythm article (8.29 +0.06) -Update-
Co rebutted an article published in the journal HeartRhythm. The article reported a case summary of a patient who had been implanted subcutaneously with a Cognis cardiac resynchronization therapy defibrillator. The article suggested a weakened header bond was responsible for the abnormal sensing and pacing impedance experienced by the patient. BSX issued the following statement: "We find it unacceptable that HeartRhythm rushed this manuscript to publication and speculated on the cause of the problem without requesting from us a detailed engineering analysis of the explanted device. Our analysis found that while the bond between the header and the case was weakened, the device functioned normally and a weakened header bond was not the cause of the abnormal sensing and pacing impedance observed in this patient. "X-ray analysis and electrical testing verified that the header wires were neither fractured nor otherwise damaged, and the seal between the header and the case was secure with no evidence of body fluid under the header. In short, there is no mechanism to link the noise observations to a weakened header bond. "Noise observations during the initial implant were not header-related. In fact, the authors themselves stated: 'It is possible that the initial noise observed on the RV pace/sense channel was due to an RV lead abnormality and not to the header abnormality.' None of the leads implanted in the patient were manufactured by Boston Scientific. "Including this most recent case, only three instances of weakened header bonds have been observed in a context of more than 90,000 COGNIS and TELIGEN devices implanted subcutaneously. The overall rate of events for this device family compares very favorably to the performance of similar devices and is well within accepted performance ranges. "We have implemented manufacturing process improvements to strengthen the header bond on these devices, allowing physicians to implant devices in either a subpectoral or subcutaneous position. We have received approval from U.S. and European regulatory authorities for the devices with the strengthened header bond and have been shipping these devices. We expect to complete the transition to these devices by next month."
17:33
PNCL Pinnacle Airlines: Colgan Air releases January performance data (8.00 ) -Update-
Co reports Jan 2010 Available seat miles of 170,849, down 4.9% from Jan 2009, reports Jan 2010 revs passenger miles of 81,412, down 9.2% YoY, Jan load factor of 50.7%, from 46.5% from Jan 2009.
17:32
PNCL Pinnacle Airlines releases January performance data (8.00 )
Co reports Jan 2010 Available seat miles of 791,614, up 2% from Jan 2009, Jan 2010 revs passenger miles of 339,312, down 4.9% YoY, Jan load factor of 69.5%, from 66.1% from Jan 2009.
17:27
LFT Longtop Financial beats by $0.09, beats on revs; guides Q4 EPS below consensus, revs above consensus; guides FY10 EPS above consensus, revs above consensus (33.23 +1.32)
Reports Q3 (Dec) earnings of $0.53 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.44; revenues rose 66.3% year/year to $54.7 mln vs the $48.8 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.26 vs. $0.27 consensus; sees Q4 revs of $40.0 mln vs. $38.51 mln consensus. Co issues upside guidance for FY10, sees EPS of $1.39, excluding non-recurring items, vs. $1.31 consensus; sees FY10 revs of $166 mln vs. $158.75 mln consensus.
17:14
CBM Cambrex misses by $0.14, misses on revs; guides FY10 revs in-line (5.27 )
Reports Q4 (Dec) loss of $0.09 per share, $0.14 worse than the First Call consensus of $0.05; revenues fell 11.2% year/year to $57.9 mln vs the $60.2 mln dual-analyst est. Co issues in-line guidance for FY10, sees FY10 revs at a decline of 5% to an increase of 1%, which equates to ~$236.9-251.8 mln vs. $243.90 mln consensus.
17:08
LEN Lennar completes transactions with the FDIC to acquire ~$3.05 billion of real estate loans (15.61 +0.01)
17:08
ATR AptarGroup beats by $0.07, beats on revs; guides Q1 EPS above consensus (35.08 -0.34)
Reports Q4 (Dec) earnings of $0.54 per share, excluding $0.02 in charges, $0.07 better than the First Call consensus of $0.47; revenues rose 8.7% year/year to $495.6 mln vs the $466.6 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.48-0.53 vs. $0.47 consensus. The co is announcing that in 2010 it is undertaking a strategic realignment of its businesses under three market-focused business segments. Co commented on the strategy, "We have always been driven to better serve our customers by enhancing our understanding of their needs and the changing markets in which they operate. The new structure will also broaden and accelerate the development of innovative new products with a global focus on market applications and consumer preferences. This realignment will take some time to complete and we expect to be fully operating under the new structure beginning in 2011."
17:03
CHBT China-Biotics reports 3Q10 EPS of $0.32 vs. $0.34 two analyst estimate; net sales increased 47% to $23.3 mln vs. $20.6 mln estimate (13.25 -0.04)
Co states, "Commercial production at our Qingpu production plant is scheduled to begin by the end of February and we continue to expect to reach approximately 50% capacity utilization by the end of calendar year 2010. With rising demand from the dairy and animal feed manufacturers, and movement by the government to encourage the use of probiotics, China continues to be a very favorable environment to grow our bulk and retail probiotics business in 2010 and beyond."
16:57
HT Hersha Hospitality Trust closed on the acquisition of three newly opened hotels (3.67 +0.02)
Co announced that it has closed on the acquisition of three newly opened hotels in Times Square, New York City. In addition to the previously announced Hampton Inn and Candlewood Suites, co was able to negotiate more favorable terms with the unaffiliated sellers to also acquire the Holiday Inn Express Times Square, on which it had a right of first offer. The total purchase price for the three Times Square properties was $165.0 million, which includes 1,451,613 units of limited partnership interest in the Company's operating partnership that were issued to the sellers.
16:50
SWIR Sierra Wireless misses by $0.09, reports revs in-line; guides Q1 EPS below consensus, revs above consensus (11.76 +0.01)
Reports Q4 (Dec) earnings of $0.09 per share, excluding non-recurring items, $0.09 worse than the First Call consensus of $0.18; revenues rose 8.4% year/year to $144 mln vs the $144.7 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.11, excluding non-recurring items, vs. $0.15 consensus; sees Q1 revs of $150 mln vs. $140.89 mln consensus. "In January of 2010, we achieved another world first in launching the first ever 3G/4G mobile hot spot with Sprint. Achievements like this underscore our commitment to developing new, differentiated AirCard products supporting leading edge air interface technologies for our key operator partners. Looking forward, we have good visibility to Q1 revenue growth and believe we are uniquely positioned in our target markets with the industry's broadest product line, strongest global presence and unmatched innovation capability. Furthermore, we believe that our target markets of M2M and mobile computing present compelling growth opportunities and we are investing to bolster our leadership position."
16:39
TRAK DealerTrack sees FY10 EPS of $0.51-0.57 vs $0.69 First Call consensus; sees revs $240-246 mln vs $245.70 mln First Call consensus (17.26 -0.15)
The guidance assumes that for 2010 new car sales will be 11.5 million units and used car sales will be 13.5 million units with consistent levels of indirect financing to 2009. The guidance also includes the expected ongoing impact of the Chrysler and General Motors bankruptcies and related franchise terminations, including the Saturn wind down. Also included in the guidance is the impact of the GMAC agreement. The co also schedules a conference call for February 10, 2010 at 6:00 pm EST to discuss an important strategic relationship with GMAC Financial Services. Under the long-term agreement, GMAC will be listed as a financing option on the DealerTrack credit application processing network. The call will be hosted by Mark O'Neil, Chairman and Chief Executive Officer and Eric Jacobs, Chief Financial and Administrative Officer.
16:38
HGR Hanger Orthopedic beats by $0.02, beats on revs; guides FY10 EPS above consensus, revs above consensus (16.62 -0.06)
Reports Q4 (Dec) earnings of $0.37 per share, $0.02 better than the First Call consensus of $0.35; revenues rose 10.6% year/year to $205.1 mln vs the $202.7 mln consensus. Co issues upside guidance for FY10, sees EPS of $1.27-1.29 vs. $1.22 consensus; sees FY10 revs of $815-825 mln vs. $812.48 mln consensus. Co expects to improve operating margins by 20-40 basis points and to generate cash flow from operations of $60-70 mln. During 2010 the co will be relocating its corporate headquarters from Bethesda, Maryland to Austin, Texas and the cost of this move will be reported as a separate component of income from operations. The co expects to incur severance and relocation cost of ~$10.0-12.0 mln, as well as, lease exit cost of ~$3.0-5.0 mln.
16:35
SWM Schweitzer-Mauduit beats by $0.18, beats on revs; guides FY10 EPS in-line (70.23 +1.70)
Reports Q4 (Dec) earnings of $0.96 per share, excluding non-recurring items, $0.18 better than the First Call consensus of $0.78; revenues rose 6.6% year/year to $188.5 mln vs the $175.6 mln consensus. Co issues in-line guidance for FY10, sees EPS of at least $4.60 vs. $4.82 consensus.
16:34
ARGN Amerigon comments on W.E.T. Automotive lawsuit (8.91 +0.60) -Update-
The co responds to legal action filed this week by the Windsor, Ontario, Canada-based subsidiary of Germany-based W.E.T. Automotive Systems AG (W.E.T.). Amerigon President and Chief Executive Officer, Daniel R. Coker, stated that Amerigon believes W.E.T.'s claims are without merit and appear to be a response to the patent infringement action filed by Amerigon against W.E.T. in November 2009. In November, Amerigon sued W.E.T. alleging that W.E.T. has infringed and continues to infringe upon four patents owned or licensed by Amerigon. The Amerigon patents at issue, which relate to thermoelectric systems and technologies, includes United States Patent Nos. 4,923,248; 5,626,021; 7,587,901; and RE38,128, all of which were asserted in the lawsuit against W.E.T. Amerigon's management and its legal team have reviewed the legal action filed by W.E.T. and believe that Amerigon's technology and patents will be protected.
16:31
RA RailAmerica reported that its total freight carloads for the month ended January 31 were 67,444, up 4.6% YoY (11.55 +0.14)
Co reported that its total freight carloads for the month ended January 31, 2010 were 67,444, up 4.6% from 64,455 in January 2009. These results exclude the discontinued Ottawa Valley Railway (OVR) operation. The co had increased shipments in January 2010 in seven out of twelve commodity groups compared to January 2009. Much of the increase was due to shipments of Agricultural Products, Chemicals, and Metallic Ores and Metals. The delayed harvest in the Midwest favorably impacted the Agricultural Products category. A general increase in economic activity positively impacted Chemicals and Metallic Ores and Metals. Continued softness in construction affected the Forest Products and Non-Metallic Minerals and Products carloads. In the Central U.S. a reduction in coal shipments resulted in decreased carloads compared to the prior year.
16:25
WINN Winn-Dixie Stores to distribute shares currently held in reserve (9.16 -0.32)
Co announced that it expects to distribute approximately 6.5 million shares, which are currently held in reserve to settle outstanding unsecured pre-petition bankruptcy claims. The distribution is based on the Company's determination that its bankruptcy share reserve contains more shares than will be necessary to resolve the remaining unsecured pre-petition claims against the Company. The Company will not receive any proceeds from this distribution and there will be no impact on the Company's financial statements. Because the shares to be distributed have been included in the Company's shares outstanding for purposes of calculating earnings per share (EPS) since emergence from Chapter 11, the distribution will not impact the Company's reported EPS.
16:24
CME CME Group confirms it will take 90% stake in joint venture owning Dow Jones Indexes Business (276.35 -6.83) -Update-
The co and Dow Jones & Company confirmed that they have signed a definitive agreement in which CME Group will take a 90% ownership interest and Dow Jones will take a 10% ownership interest in a new joint venture that will own the Dow Jones Indexes, which includes The Dow Jones Industrial Average and approx 130,000 index properties. Pending approval by regulators and completion of customary closing conditions, the transaction is expected to close during the first quarter of 2010. Dow Jones & Company will contribute the Dow Jones Indexes business, valued at $675 mln, to the joint venture. CME Group will contribute certain market data services, valued at $607.5 mln, to the joint venture. The venture also will raise approx $613 mln in third-party debt which will be used to pay a $607.5 mln distribution to Dow Jones. Terms of the agreement provide for the joint venture to license the Dow Jones name for the new index services business on a long-term basis. Ownership of the Dow Jones brand, including trademarked names, will remain with Dow Jones. The managing editor of The Wall Street Journal will continue to participate in decisions regarding constituent stock selection for the Dow Jones Industrial Average and other index products. Building on the strong brand and market expertise of both CME Group and DJI, the partnership will also expand the global reach of its index creation, calculation services and market data businesses across complementary asset classes, including cash, derivatives and customized OTC markets.
16:24
TRH Transatlantic Hldngs reported net income of $2.04 vs. $1.83 First Call consensus; net premiums written declined 7% y/y to $960 mln (48.37 +0.41)
Co states. "We enter 2010 excited about our future and the new opportunities that continue to emerge due to the breadth of our underwriting expertise, value-added service and well-established global franchise. On balance, reinsurance rates remained within acceptable levels through the just completed January 1 renewal season and exhibited greater stability than rates in the primary markets. In this environment, we are maintaining underwriting vigilance and discipline and we continue to manage our capital levels consistent with anticipated market opportunities and our targeted risk adjusted returns. Our recent capital management initiatives have included the sale of $350 million principal amount of 30 year senior notes and commencement of a $200 million common share buyback program."
16:23
ATVI Activision Blizzard beats by $0.05, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY10 EPS below consensus, revs below consensus; announces $1 bln buyback (10.09 +0.04)
Reports Q4 (Dec) earnings of $0.49 per share, $0.05 better than the First Call consensus of $0.44; revenues fell 5.0% year/year to $1.56 bln vs the $2.23 bln consensus. ATVI also announced a $1 bln share repurchase program. Co issues downside guidance for Q1, sees EPS of $0.02 vs. $0.08 consensus; sees Q1 revs of $525 mln vs. $740.91 mln consensus. Co issues downside guidance for FY10, sees EPS of $0.70 vs. $0.73 consensus; sees FY10 revs of $4.4 bln vs. $4.84 bln consensus. The co also announced a $1 bln share repurchase program. "On a non-GAAP basis, we expect to deliver a year of record net earnings and operating margins and are taking another step towards our long-term objective of operating margins of 30% or more. In calendar year 2010, we expect our net earnings and operating margin growth will be driven by our product slate that includes Blizzard Entertainment's Starcraft II and the World of Warcraft expansion pack, Cataclysm, as well as a diversified lineup based on Activision Publishing's best-selling franchises including Call of Duty, Guitar Hero and Tony Hawk, together with other well-known titles such as True Crime, Spider-Man and Bakugan."
16:23
INFI Infinity Pharmaceutical initiates clinical development of its fourth drug candidate and announces 2009 financial results (6.05 -0.06)
Co announced that it has commenced clinical development of its fourth internally discovered drug candidate, IPI-940, a novel inhibitor of the enzyme fatty acid amide hydrolase, or FAAH. In addition, Infinity announced progression of its oncology programs consistent with its 2010 guidance, and 2009 financial results. "We believe we are well positioned to show the impact that all four of our clinical candidates can have in patients' lives... Infinity is financially strong, with a cash runway into 2013. We remain focused on using this strength to continue building Infinity's product pipeline through investment in internal and potential external opportunities." Infinity is developing IPI-940 under its strategic alliance with Purdue Pharmaceutical Products and Mundipharma International Corporation Limited... Co also reported Q4 EPS of ($0.30) vs. the ($0.42) consensus, and said based on its 2010 R&D and business objectives, the co anticipates a cash burn of between approximately $25-35 million during 2010 and estimates a year-end cash and investments balance of between $95-105 million. This amount does not include any amounts that Infinity may draw under the $50 million line of credit available from Purdue Pharma L.P. This financial position enables Infinity to achieve key development milestones and evaluate external opportunities to strategically enhance its pipeline.
16:23
PRE PartnerRe beats by $1.06, beats on revs (74.24 +0.32)
Reports Q4 (Dec) earnings of $3.87 per share, excluding non-recurring items, $1.06 better than the First Call consensus of $2.81; revenues rose 29.1% year/year to $1.55 bln vs the $0.8 bln consensus. "We had an exceptional year in 2009, achieving an operating return on beginning equity of 22% and GAAP book value per share growth of 32%. The Company also recently announced a 6% increase in the annual common dividend per share, marking the 17th consecutive year the Company has increased its dividend since inception. These results form part of PartnerRe's long track record of success, which has seen the Company grow its GAAP book value per share plus dividends at a compounded rate of 13% over the last 5 years."
16:21
DLR Digital Realty Trust reports leasing activity for the fourth quarter and full year 2009 (46.69 -0.07)
The co announces the results of its leasing activity for both the fourth quarter and full year 2009. For the full year 2009, lease signings represent over $472 million in total cash contract value... For the quarter ended December 31, 2009, the Company commenced leases totaling approximately 91,000 square feet of space. This includes nearly 53,000 square feet of Turn-Key Datacenter space leased at an average annual GAAP rental rate of $173.00 per square foot, approximately 20,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $29.00 per square foot, and approximately 18,000 square feet of non-technical space leased at an average annual GAAP rental rate of $22.00 per square foot... For the quarter ended December 31, 2009, the Company signed leases totaling approximately 156,000 square feet of space. This includes approximately 116,000 square feet of Turn-Key Datacenter space leased at an average annual GAAP rental rate of $126.00 per square foot, approximately 30,000 square feet of Powered Base Building space leased at an average annual GAAP rental rate of $26.00 per square foot, and approximately 10,000 square feet of non-technical space leased at an average annual GAAP rental rate of $31.00 per square foot.
16:20
PROJ Deltek beats by $0.02, beats on revs (7.85 +0.95)
Reports Q4 (Dec) earnings of $0.15 per share, $0.02 better than the First Call consensus of $0.13; revenues fell 1.9% year/year to $70.3 mln vs the $65.9 mln consensus.
16:18
PAA Plains All Amer beats by $0.10, beats on revs (51.85 -0.66)
Reports Q4 (Dec) earnings of $0.80 per share, excluding non-recurring items, $0.10 better than the First Call consensus of $0.70; revenues rose 23.2% year/year to $6.08 bln vs the $5.01 bln consensus.
16:17
MPET Magellan Petroleum appoints new Chief Financial Officer and Treasurer (1.64 +0.01)
The co announces the appointment of William Begley, Jr. as its new Chief Financial Officer (CFO) and Treasurer. Daniel Samela has resigned as CFO, Chief Accounting Officer and Treasurer, but will remain with the Company and continue to serve as Vice President - New Ventures.
16:16
PVA Penn Virginia beats by $0.08, beats on revs (24.99 +0.26)
Reports Q4 (Dec) loss of $0.01 per share, excluding the effects of the non-cash change in derivatives fair value, $0.08 better than the First Call consensus of ($0.09); revenues rose 4.9% year/year to $236 mln vs the $217.2 mln consensus. "For 2010, we have hedged approximately 55 percent of our estimated natural gas production, at average floor and ceiling prices of $6.09 and $8.19 per MMBtu, respectively. During 2009 and through January 2010, we raised over $510 million from the issuances of debt and equity securities and the sale of non-core assets, including a portion of our position in PVG. As a result, we have substantially improved our financial liquidity, with $300 million of unused availability on our revolving credit facility and over $100 million of cash on hand. We expect our strong hedge and liquidity positions to facilitate future growth in our focused, resource play-driven operations."
16:16
O Realty Income beats by $0.01, reports revs in-line; guides FY10 FFO in-line (4.27 )
Reports Q4 (Dec) funds from operations of $0.47 per share, $0.01 better than the First Call consensus of $0.46; revenues fell 0.5% year/year to $81.8 mln vs the $81.8 mln consensus. Co issues in-line guidance for FY10, sees FFO of $1.86-1.92 vs. $1.88 consensus.
16:14
PRCP Perceptron reports Q2 sales of $11.8 mln vs. $19.9 mln a year ago; EPS of ($0.05) vs. $0.12 a year ago (3.50 +0.04)
"Our second quarter financial results continued to improve over recent quarters," reported Jack Lowry, Perceptron's Chief Financial Officer. "Our bookings and backlog were the best we have experienced in more than a year. We have continued to keep our costs low and benefit from the restructuring actions we implemented in fiscal year 2009. We continue to face difficult comparisons with the second quarter and first six months of fiscal 2009 however, because we did not experience the significant weakness that affected the automotive industry until the second half of fiscal 2009."
16:14
PVG Penn Va GP Hldgs reports Q4 net income per share of $0.32 vs. $0.28 First Call consensus; total revenue increased 19.6% y/y to $194.9 mlnvs. $209 mln two analyst estimate (15.44 -1.26)
16:14
EDMC Education Mgmt beats by $0.14, beats on revs; guides Q3 EPS in-line; guides FY10 EPS above consensus (18.10 +0.19)
Reports Q2 (Dec) earnings of $0.53 per share, excluding expenses incurred during Q2 of FY10 in connection with its IPO and the related repurchase of $316 mln of its senior subordinated notes, $0.14 better than the First Call consensus of $0.39; revenues rose 25.5% year/year to $655.5 mln vs the $642.3 mln consensus. Co issues in-line guidance for Q3, sees EPS of $0.36-0.39 vs. $0.36 consensus. Co issues upside guidance for FY10, sees EPS of $1.28-1.32, excluding the expenses related to the IPO and debt repurchase, vs. $1.12 consensus. At the start of the current January quarter, total enrollment at its schools was over 139,400 students, a 22.4% increase from the same time last year. Same-school enrollment (schools with enrollment for one year or more) increased 21.4% to over 138,300 students. The number of students enrolled in fully online programs increased 54.9% to ~34,800 students. Average student enrollment for fiscal 2010 is expected to grow ~21% over fiscal 2009.
16:12
ARRS Arris beats by $0.05, beats on revs; guides Q1 EPS in-line, revs in-line (9.69 -0.01)
Reports Q4 (Dec) earnings of $0.32 per share, $0.05 better than the First Call consensus of $0.27; revenues rose 2.6% year/year to $300 mln vs the $292 mln consensus. Gross margins for the qtr were 44.8%. Co issues in-line guidance for Q1, sees EPS of $0.18-$0.22 vs. $0.22 consensus; sees Q1 revs of $253-$273 mln vs. $272.93 mln consensus.
16:12
ALL Allstate beats by $0.08 (28.60 -0.13)
Reports Q4 (Dec) earnings of $1.09 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $1.01; revenues rose 22.7% year/year to $8.06 bln vs the $8.08 bln consensus; this reflected lower realized capital losses, which decrease revenues, than the prior year quarter. Partially offsetting this were decreases in net investment income of 19.0% and property-liability premiums of 2.3%. Allstate's Property-Liability business produced a combined ratio of 93.2 in 4Q09 compared to 96.4 in the prior year quarter, resulting from continued margin strength in the auto business and actions taken to reduce expenses, partly offset by the impact of catastrophe losses on the homeowners business. The underlying combined ratio was 88.1 for the year, in line with the outlook of 87 to 89 established at the beginning of 2009. Management's outlook for the 2010 underlying combined ratio is 88 to 90. Book value per share was $30.84 at December 31, 2009 compared to $23.47 at December 31, 2008 and $32.29 at September 30, 2009. The decline during 4Q09 was related to an increase in unrealized net capital loss, after adjusting for DAC and taxes. The reduction in pre-tax unrealized net capital losses was more than offset by a decrease in the DAC adjustment due to updated assumptions for Allstate Financial fixed annuity investment performance. The updated assumptions anticipate continued credit losses in certain asset classes within the portfolio in 2010 and 2011, primarily residential and commercial mortgage-backed securities.
16:12
PRU Prudential misses by $0.04, reports revs in-line (48.88 +0.52)
Reports Q4 (Dec) earnings of $1.07 per share, $0.04 worse than the First Call consensus of $1.11; revenues rose 15.6% year/year to $6.79 bln vs the $6.86 bln consensus. Assets under management amounted to $667 billion at December 31, 2009, compared to $558 billion a year earlier. Net income of the Financial Services Businesses attributable to Prudential Financial, Inc. amounted to $1.788 billion for the fourth quarter of 2009, compared to a net loss of $1.656 billion in the year-ago quarter. At December 31, 2009, gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses amounted to $4.389 billion, including $3.135 billion on high and highest quality securities based on NAIC or equivalent ratings. Gross unrealized losses include $1.293 billion related to asset-backed securities collateralized by sub-prime mortgages. Gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses at December 31, 2009 include $2.446 billion of declines in value of 20% or more of amortized cost, of which $2.179 billion represents such declines in value for three months or more. Gross unrealized losses on general account fixed maturity investments of the Financial Services Businesses amounted to $11.251 billion at December 31, 2008. Net unrealized gains on general account fixed maturity investments of the Financial Services Businesses amounted to $998 million at December 31, 2009, compared to net unrealized losses of $6.567 billion at December 31, 2008.
16:11
FBCM FBR Capital Markets reports 4Q results (5.54 +0.03)
FBR Capital Markets reports 4Q09 earnings of $0.26 vs $0.17 First Call consensus; revenues before net investment income/loss increased 156% year/year to $122.2.mln vs $109.30 mln First Call consensus. Richard J. Hendrix, President and Chief Executive Officer of FBR Capital Markets, commented that "Our fourth quarter performance was driven by leadership in capital raising for the US banking industry and demonstrates the positive operating leverage in our model. While we are cautiously optimistic about the capital markets environment in 2010, we are confident in our team of professionals and our collective ability to deliver for clients and shareholders as we focus on execution during this year."
16:11
EQIX Equinix beats by $0.10, beats on revs; guides Q1 and FY10 revs
Reports Q4 (Dec) earnings of $0.44 per share, $0.10 better than the First Call consensus of $0.34; revenues rose 33.7% year/year to $242.6 mln vs the $238.1 mln consensus. Co issues guidance for Q1, sees Q1 revs of $245-247 mln vs. $247.56 mln consensus. Co issues guidance for FY10, sees FY10 revs of $1.050-1.075 bln vs. $1.08 bln consensus.
16:10
SCOR ComScore beats by $0.01, reports revs in-line; guides Q1 revs in-line; guides FY10 revs above consensus (13.02 +0.09)
Reports Q4 (Dec) earnings of $0.05 per share, $0.01 better than the First Call consensus of $0.04; revenues rose 7.0% year/year to $33.8 mln vs the $33.7 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $34.2-36 mln vs. $34.41 mln consensus. Co issues upside guidance for FY10, sees revs growing approx 21%-25% YoY, which calculates to roughly $154.6-$159.6 mln vs. $144.73 mln consensus. "We are optimistic about 2010 and will continue to manage expenses as tightly as possible. We anticipate adjusted EBITDA margin for the full year 2010 in line with the company's 2009 EBITDA margin performance."
16:09
BELM Bell Micro reports the SEC completed investigation and that no enforcement action has been recommended (4.61 +0.07)
Co announced that it received notice from the Securities and Exchange Commission that the investigation concerning the company's accounting and financial reporting matters has been completed and that no enforcement action has been recommended.
16:08
MAS Masco is combining its two cabinet companies (14.48 +0.05)
Co is combining its two cabinet companies, Masco Retail Cabinet Group and Masco Builder Cabinet Group, to form a new organization, Masco Cabinetry. The new organization will have the ability to offer trade partners and consumers a broad portfolio of cabinets and countertops spanning a wide range of price points and styles. Over the next few months, the leadership team will work through strategic and tactical plans to ensure a seamless transition to the new organization.
16:08
LPSN LivePerson beats by $0.02, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS in-line, revs above consensus (5.96 -0.09)
Reports Q4 (Dec) earnings of $0.09 per share, $0.02 better than the First Call consensus of $0.07; revenues rose 26.5% year/year to $24.8 mln vs the $23.6 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.06-0.07 vs. $0.07 consensus; sees Q1 revs of $25-25.2 mln vs. $24.25 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.30-0.32 vs. $0.31 consensus; sees FY10 revs of $105-107 mln vs. $103.37 mln consensus. "We had a great quarter, with all facets of the business contributing to top line growth," said LivePerson CEO Robert LoCascio. "Revenue and earnings for both the quarter and year have surpassed our expectations, driven by a balanced mix of geographic expansion, new account acquisition and existing account penetration. Our sound sales strategy coupled with strong cost management across the organization place us in a solid position to continue driving growth in 2010 and beyond."
16:08
TLEO Taleo beats by $0.06, reports revs in-line (19.97 +0.22)
Reports Q4 (Dec) earnings of $0.23 per share, $0.06 better than the First Call consensus of $0.17; revenues rose 5.2% year/year to $50.5 mln vs the $50.5 mln consensus. Cash flow from operations was $20.6 mln and free cash flow was $19.2 mln.
16:07
NSR Neustar beats by $0.01, beats on revs; guides FY10 revs in-line (22.56 +0.43)
Reports Q4 (Dec) earnings of $0.37 per share, $0.01 better than the First Call consensus of $0.36; revenues rose 5.3% year/year to $134.2 mln vs the $128.1 mln consensus. Co issues in-line guidance for FY10, sees FY10 revs of $520-535 mln vs. $524.72 mln consensus.
16:07
OSUR OraSure Tech reports Q4 (Dec) results, beats on revs; guides Q1 EPS below consensus, revs in-line
Reports Q4 (Dec) loss of $0.17 per share, including items, may not be comparable to the First Call consensus of ($0.09); revenues rose 21.5% year/year to $20.9 mln vs the $19.6 mln consensus. Co issues mixed guidance for Q1, sees EPS of ($0.06)-($0.07) vs. ($0.05) consensus; sees Q1 revs of 19.0-19.5 vs. $19.03 mln consensus... Results for the year ended December 31, 2009 included a $3.0 mln pre-tax impairment charge related to the net book value of previously capitalized payments under a Hepatitis C ("HCV") patent license agreement and $1.5 mln in expense associated with the settlement of patent infringement litigation with Inverness Medical. Results for the fourth quarter ended December 31, 2009 also include the litigation settlement expense. Results for the year ended December 31, 2008 included a $4.9 mln pre-tax gain related to a lump sum payment received as a result of the settlement of patent infringement litigation during the year. Excluding the impact of these items, the Company's pre-tax loss, on a non-GAAP basis, would have been $4.0 mln and $2.0 mln for the year and quarter ended December 31, 2009, respectively. These results would compare to a pre-tax loss on a non-GAAP basis of $13.6 mln and $5.7 mln for the year and quarter ended December 31, 2008.
16:06
KBR KBR Inc. awarded contract by Woodside to execute a basis of design study for the company's Browse Liquefied Natural Gas Development (17.60 -0.23)
Co will execute the study for a 12 million tons per annum (MTPA) liquefaction facility, as well as the associated infrastructure and marine facilities. The anticipated duration of the study is nine months. The award of the basis of design study follows the recent award to KBR of a front-end engineering and design (FEED) contract for Woodside's Pluto LNG trains 2 and 3.
16:05
DGI DigitalGlobe to modify its Service Level Agreement with the National Geospatial-Intelligence Agency (22.03 +0.30)
Co announced that it has signed a contract to modify its Service Level Agreement with the National Geospatial-Intelligence Agency, or NGA. The modification restructures the option for NGA to extend the term of the SLA. The original option, if exercised, provided for a single nine-month extension of the term from April 1, 2010 through December 31, 2010. The modified option grants NGA the option to extend the SLA for three months on the same terms, from April 1, 2010 to June 30, 2010 with six additional options, each for a one-month period, with the last option term expiring on December 31, 2010. NGA requested the modification and the company believes this modification provides increased flexibility for NGA as the EnhancedView procurement continues.
16:05
FOOD Vaughan Foods will not appeal NASDAQ notice of bid (0.70 +0.05)
Co received notice from the NASDAQ listing qualifications department that its common stock has failed to maintain a minimum bid price of $1.00 per share over a period of 30 consecutive trading days, as required by NASDAQ Listing Rule 5550(a)(2).
16:05
KONA Kona Grill misses by $0.02, reports revs in-line; guides Q1 EPS below consensus, revs below consensus (3.20 +0.08)
Reports Q4 (Dec) loss of $0.18 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of ($0.16); revenues rose 7.5% year/year to $20 mln vs the $20 mln consensus. Co issues downside guidance for Q1, sees EPS of ($0.19)-(0.12) vs. ($0.10) consensus; sees Q1 revs of $19.4-20.4 mln vs. $20.73 mln consensus. The co anticipates opening one new restaurant in Baltimore, MD in the second half of 2010. The Company expects its available cash and cash flow from operations will enable it to complete construction of the Baltimore, MD restaurant. The Company will only consider additional leases based upon significant economic opportunity and the availability of affordable debt capital or sufficient cash flow from operations.
16:04
GSIC GSI Commerce reports Q4 (Dec) results, beats on revs; guides Q1 revs above consensus
Reports Q4 (Dec) earnings of $0.38 per share, may not be comparable to the First Call consensus of $0.51; revenues rose 9.8% year/year to $430.2 mln vs the $411.3 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $260 mln vs. $256.42 mln consensus. Loss from operations is expected to be $19.5 million; Non-GAAP income from operations is expected to be $10.0 million. For FY10 co expects income from operations is expected to be $21.4 million. -- Non-GAAP income from operations is expected to be $135.0 million. This compares to the previous comfort level expressed by the company of $130.0 million and includes start up expenses for a new business in the company's consumer engagement segment. (b) -- Capital expenditures are expected to be approximately $60.0 million.
16:04
ELON Echelon beats by $0.08, beats on revs; guides Q1 EPS below consensus, revs below consensus
Reports Q4 (Dec) GAAP loss of $0.09 per share, $0.08 better than the First Call consensus of ($0.17); revenues rose 5.4% year/year to $38.8 mln vs the $33.9 mln consensus. Co issues downside guidance for Q1, sees GAAP EPS of (0.35)-(0.32) vs. ($0.18) consensus; sees Q1 revs of $15-17 mln vs. $30.16 mln consensus.
16:04
LOOP Loopnet beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs above consensus (9.57 -0.05)
Reports Q4 (Dec) earnings of $0.07 per share, $0.01 better than the First Call consensus of $0.06; revenues fell 13.3% year/year to $18.3 mln vs the $18 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.04-0.05 vs. $0.06 consensus; sees Q1 revs of $18.1-18.3 mln vs. $17.97 mln consensus.
16:02
SCOR comScore announces acquisition of ARSgroup (13.02 )
Co announces that it has signed a definitive agreement to acquire the ARSgroup, a leading communications research agency specializing in the measurement of advertising persuasion for TV and multi-media campaigns. Co notes that the all-cash acquisition will strengthen their position in the areas of measuring advertising and its effectiveness in TV, online, print and integrated cross media platforms and provide comScore with a staff of high caliber researchers that have experience working with the world's great brands. comScore anticipates closing the transaction in March 2010 and expects ARS to fuel incremental growth for comScore in 2010.
16:02
EQIX Equinix opens new data centers in Frankfurt and Dusseldorf; announces further German Expansion (93.01 0.00)
Co announced the opening of new International Business Exchange data centers in Frankfurt and Dusseldorf, together with plans to expand its existing Frankfurt-2 (FR2) center. Elsewhere, in the north of the city, the planned $18 million expansion of the FR2 IBX will add 2,500 square meters (27,000 square feet) of data center space, with capacity for approximately 660 cabinets. The FR2 IBX expansion will be completed in phases, between April and September 2010.
16:01
TMK Torchmark Corp beats by $0.03; guides FY10 EPS in-line (44.37 +0.09)
Reports Q4 (Dec) earnings of $1.47 per share, $0.03 better than the First Call consensus of $1.44. Co issues in-line guidance for FY10, sees EPS of $6.05-$6.25 vs. $6.10 consensus.
16:01
WIRE Encore Wire misses by $0.14, beats on revs (19.14 -0.16)
Reports Q4 (Dec) loss of $0.08 per share, $0.14 worse than the First Call consensus of $0.06; revenues fell 1.7% year/year to $177.1 mln vs the $165.8 mln consensus. "We understand that this is a cyclical industry and therefore we designed and manage our cost structure and balance sheet accordingly. Our low cost structure and strong balance sheet have enabled us to withstand difficult periods in the past, and we believe we will emerge stronger than most when market conditions improve. We thank our employees and associates for their tremendous efforts and our shareholders for their continued support during these challenging times."
16:00
FTI FMC Tech signs multi-year frame agreement with Cobalt International Energy (55.41 +0.07)
Co announces that it has signed a multi-year frame agreement with Cobalt International Energy (CIE) to provide subsea systems, including production trees, manifold hardware and distribution systems.
16:00
BOOT LaCrosse Footwear announces plans for new Danner factory (17.36 )
Co announced its plans to move into a new Danner factory in Portland. The facility will be located in an industrial building approximately one mile from the co's headquarters. The new factory will be ~59,000 square feet. The new facility's lease is scheduled to begin during the second quarter of 2010 for a term of approximately five years, with options to extend the lease for up to 15 more years.
15:45
IAI Late day Sector ETF view -Technical-
Actively Traded Leading Sector ETF Plays:
iShares US broker/dealers- IAI +1%, regional banks- KRE +.5%, RKH +.75%, Crude/WTI oil- USO +.75%, OIL +.75%, Heating oil- UHN +.75%, Commercial banks- KBE +.75%, Financials- XLF +.75%, IYF +.5%, Ag commods- DBA +.5%, Semis- IGW +.5%, SMH +.5%, Clean energy- PBW +.5%, Insurers- KIE +.5%, Commods- GSG +.25%, DBC +.5%, US Dollar index- UUP +.25%, Ag/chem- MOO +.25%
Actively Traded Lagging Sector ETF Plays:
Solar power- TAN -2%, Steel- SLX -1.5%, SPDRS metals & mining- XME -1%, India- INP -1%, Silver- SLV -1%, US bonds- TLT -1%, iShares telecom- IYZ -.75%, Basic materials- XLB -.75%, IYM -.75%, Gold miners- GDX -.75%, Global shippers- SEA -.75%, Energy- XLE -.5%, IYE -.5%, Gold- GLD -.5%, SPDRS homebuilders- XHB -.5%
15:44
Earnings Calendar
Today after the close, of the many companies scheduled to report, some of the bigger names include: ATVI, BSX, STV, KONA, LPSN, and PRU. Tomorrow before the open, of the many companies scheduled to report, some of the bigger names include: ALU, ALXN, EXPE, FLIR, JASO, MAR, PEP, TRAD, and VIA.B.
15:36
SPY Stock indices slip slightly under afternoon range lows -- Dow -34, S&P -4.1, Nasdaq -5.7 -Update- -Technical-
15:35
TAP Molson Coors Brewing falls to session lows on a pick up in 5 min. volume with the May 4, 2009 gap close objective in play surrounding the 39.00 mark (39.07 -.91) -Technical-
Gap close was 39.10 area with today's LoD now @ 39.00.
15:10
RLRN Renaissance Learning declares quarterly cash dividend (12.28 -0.38)
Co announced that it declared a quarterly cash dividend of $0.07 per share, payable March 8, 2010 to shareholders of record as of February 22.
15:09
SPY At this point of the trading day, NYSE exchange volume on pace to post the lightest trading day YTD -Technical-
Nearly 685M shares have traded here with under an hour to go. The catalyst for the anemic totals at this point is directly related to inclement weather in the mid-Atlantic up through the upper Eastern Seaboard.
14:57
ITT ITT Industries partnership awarded IDIQ contract for spaceport launch services (48.34 -0.30) -Update-
Spaceport Systems International, a limited partnership between ITT Corporation (ITT) and California Commercial Spaceport, has been awarded an indefinite delivery, indefinite quantity contract to provide spaceport launch services for the U.S. Air Force Space and Missile Systems Center Launch Test Squadron. The maximum potential value of the five-year contract is $48 million and actual revenue from the contract will be dependent upon the services specifically requested by the customer.
14:56
BIDU NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-
NDX 100 Best % Performers:
BIDU +10.5%, MICC +6.75%, CELG +2.5%, NVDA +2%, FWLT +1.75%, JBHT +2%, ADBE +1.75%, ATVI +1.75%, BRCM +1.75%, DELL +1.5%, FLEX +1.5%
NDX 100 Worst % Performers:
FSLR -3.25%, STLD -2.75%, YHOO -2%, NWSA -2%, EBAY -1.75%, LOGI -1.75%, ORCL -1.5%, URBN -1.5%, AKAM -1.5%, CHRW -1.5%, LBTYA -1.25%
NASDAQ TRIN @ +.95
NASDAQ A/D @ -160
14:53
JPM Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-
INDU Best % Performers:
JPM +1.5%, BAC +1.25%, VZ +.75%, GE +.5%, AXP +.5%, INTC +.5%
INDU Worst % Performers:
AA -1%, PFE -.75%, HD -.75%, CVX -.75%, CAT -.50%, BA -.5%
NYSE TRIN @ +1.15
NYSE A/D @ +85
14:42
SPY Stock indices slip modestly off afternoon bounce highs -- Dow -12, S&P -1.2, Nasdaq -1.6% -Update- -Technical-
Relative weakness on this intraday slide has been noted in Finance XLF / RKH, Solar TAN, Gold Miners GDX, Steel SLX, Ag/Chem MOO. Watching intraday support for the S&P in the 1068/1067 area for a read on the health of the midday rally.
14:41
COMDX NYMEX Energy Closing Prices
Crude oil finished higher by 75 cents to $74.50, natural gas ended up 1.1 cents to $5.301, heating oil settled higher by 0.77 cents to $1.945 while RBOB gasoline shed 0.06 cents to close at $1.9284 (all March contracts).
14:25
ITT ITT awarded task order to service U.S. Army vehicles & equipment (48.35 -0.29)
Co announces that the U.S. Army Contracting Command has awarded a task order under the Field and Installation Readiness Support Team contract vehicle to ITT Corporation for maintenance staff services for the U.S. Army Central Command Special Troops Battalion. Under this task order, ITT will provide support to the USARCENT STB in conducting maintenance, repair and other services for vehicles, generators and environmental control units in the Central Command area of operations. The task order is for a one-year base period and includes options for four additional one-year periods, which if exercised will bring the total value of the project to ~$6 mln.
14:01
LDSH Ladish revises tax provision (16.72 +0.44)
Co announces revised net earnings and earnings per share amounts for the three months and year ended December 31, 2009 to reflect a revision to the Company's income tax benefit for such periods. The amounts of the Company's income tax benefit for the three months and year ended December 31, 2009 were reduced by $0.547 mln to $3.122 mln and $2.894 mln, respectively, from the amounts announced in the Company's February 1, 2010 earnings release. As a result, basic and diluted earnings per share were reduced by $0.03 and $0.04 per share for the three months and year ended December 31, 2009, respectively.
13:58
ALU Alcatel-Lucent selected by Altalink to build new high-speed IP communications network (3.20 -0.06) -Update-
Alcatel-Lucent (ALU) and AltaLink announce that Alcatel-Lucent has been selected to build the utility's new, improved IP communications network linking 270 substations throughout Alberta.
13:44
THG Fitch affirms Hanover Insurance Group's IDR at 'BBB-; outlook stable (41.05 -0.13)
Fitch Ratings has affirmed The Hanover Insurance Group's Issuer Default Rating (IDR) at 'BBB', all outstanding senior debt issues at 'BBB-', as well as the Insurer Financial Strength of all operating subsidiaries at 'A-'. The Rating Outlook is Stable.
13:32
COMDX COMEX Metals Closing Prices
April gold ended the session lower by $1.10 to $1076.10, March silver lost 10.5 cents to end at $15.33 while March finished higher by 0.2 cents to $2.989.
13:31
TECHX 30-yr Bond Yield -TYX- runs to new three week high after auction -Update- -Technical-
Click for daily TYX chart.
13:18
COMDX Crude oil trades to its best levels of the session at $74.67; now higher by 87 cents to $74.62
13:12
XLF Financial Select Sector SPDR sets new high (13.99 +0.19) -Update- -Technical-
Noted the test of yesterday's peak and the early high at 13.90 in the 12:30 update and that Friday's recovery high came into play at 13.98. The upside extension in recent trade has brought the latter level into play. This also approximates the Jan and Dec lows as well (13.99/14.01). The initial level of interst above is at its 200 day ema at 14.12.
12:49
IRSN Irvine Sensors received ~$2.1 mln in contract add-ons (0.39 -0.004)
Co announces that it has recently received "add-ons" aggregating ~$2.1 million to existing development contracts related to high speed processing and electronic security applications. Included in the new add-ons are additional delivery orders for Irvine Sensors' EAGLE-10 "blade" product and more funding to continue development of this product family to design speeds of 40 gigabits per second and 100 gigabits per second
12:45
IAI Midday sector ETF view -Technical-
Actively Traded Leading Sector ETF Plays:
iShares US broker/dealers- IAI +1.5%, Financials- XLF +.75%, IYF +.75%, Ag/chem- MOO +.75%, Commercial banks- KBE +.5%, China 25- FXI +.50%, Coal- KOL +.5%, Insurers- KIE +.5%, Ag commods- DBA +.5%, Semis- IGW +.5%, SMH +.5%, VIX vol. index- VXX +.5%, US airlines- FAA +.5%
Actively Traded Lagging Sector ETF Plays:
Solar power- TAN -2%, Steel- SLX -1%, Silver- SLV -.75%, Global shippers- SEA -.75%, India- INP -.75%, SPDRS utilities- XLU -.5%, Wind energy- FAN -.5%, RBOB gas- UGA -.5%, Biotech- XBI -.5%, BBH -.5%, IBB -.25%, Yen currecny shares- FXY -.5%
12:33
TECHX Relative Sector Strength -Update- -Technical-
The indices are running intraday following the break above the morning rebound highs (noted at 12:23) with relative sector strength noted in Energy/Commodity (XLE, OIH, GDX, SLX, MOO, XLB) along with Semi SMH, REITs IYR, Solar TAN, Finance XLF / RKH.
12:30
XLF Financial Select Sector SPDR edges slightly above yesterday/morning high at 13.90 (13.93 +0.13) -Update- -Technical-
The top end of its developing four day trade range and Friday's recovery high comes in at 13.98 (session high 13.92).
12:25
POM Pepco Hldgs reports blizzard conditions interrupt Pepco power restoration; will resume as soon as the storm abates (16.24 +0.12)
12:23
SPY Stock indices flirting with intraday rebound highs amid lower volume, midday trade -- Dow -30, S&P -3.5, Nasdaq -7.8 -Update- -Technical-
12:21
ETP Energy Transfer to acquire natural gas assets in the Haynesville Shale (44.28 +0.15) -Update-
Co announces it has signed an agreement to purchase certain natural gas gathering and treating assets in the Haynesville Shale from Tristate Midstream, a portfolio company of Dallas-based Energy Spectrum. Energy Transfer is acquiring Tristate North Louisiana Midstream, and TSM Treating, which collectively own a 120-mile gathering system in Red River and Bienville Parishes with a capacity of 275 mln cubic feet per day, and natural gas treating facilities with approximately 480 million cubic feet per day of treating capacity.
12:18
SPY NYSE trading volume quite light vs. yesterday's midday tally as Eastern seaboard weather may be the catalyst-- See NYSE volume chart -Technical-
Here @ midday the NYSE is posting total trading volume well below yesterday's midday totals. The main catalyst may be the fact that much of the mid-Atlantic into New York city is pretty much shut-down in anticipation of very inclement weather. With the indices down marginally, little interest is seen on either side of the market thus far.
Market internals remain bearish as decliners outpace advancers on both NASDAQ & NYSE by a decent amount. Additionally, TRIN readings on both exchanges signal a neutral to slightly bearish tone to the price action.
As of 12:00ET, 380M shares have changed hands vs. 493M yesterday.
NYSE 30 min volume chart
12:12
COMDX Gold and silver have also bounced off of their worst levels, aided by pullback in the dollar index, to recoup some of their losses
Gold is now down $5 to $1072.20, silver is off 19.5 cents to $15.24.
12:06
COMDX Crude oil has rallied off its lows over the ~2 hours to move back to the flat line; now off 11 cents to $73.64
12:00
ELOS Syneron Medical: Candela receives registration approval to market its GentleMax and Alex TriVantage lasers in China (9.16 +0.06)
Candela, a Syneron company (ELOS), announces that the SFDA (State Food and Drug Administration) of China has approved the Alex TriVantage multi-wavelength, Q-switched laser system and the GentleMax multiple wavelength workstation for sale throughout the People's Republic of China, including Hong Kong. The receipt of the SFDA Certificates will allow Candela to begin the sales process and launch official marketing programs for these products, creating a host of new market opportunities.
11:58
ORCL Oracle shares press lower with price probing key Feb. support surrounding 23.00~22.86 (23.00 -.51) -Technical-
22.98 is current LoD as ORCL -2.15% & underperforms vs. NDX 100 -.50%
11:28
SPY S&P 500 edges to minor new intraday rebound high -Update- -Technical-
Highlighted support at 1059/1058 in the 10:23 update and did see the S&P stabilize after reaching 1059 at 10:25. Noted that 1065 and 1069 needed to be taken out in order to improve the very short term price patterns. In recent action it has been probing this initial intraday resistance -- Click for chart.
11:26
Rumor Round Up
A few rumors circulated this morning after yesterday's extremely quiet session. Hess (HES 57.13 -0.56) was rumored to be hearing interest from Chevron (CVX 70.46 -0.85) We note this rumor has been around in the past. Takeover rumors circulated around Barnes & Noble (BKS 20.17 +0.42). We note that in early February, Ronald Burkle's Yucaipa Companies disclosed an 18.7% stake in a filing and requested a 37% stake to match an existing shareholder. Hartford Financial (HIG 22.58 +0.24) saw a spike in price and volume following rumors that Prudential (PRU 48.67 +0.33) could be interested in the co. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable The speculation may increase volatility in the near term.
11:17
EBAY eBay shares dip to lows with price probing 200-day EMA @ 21.70 support after breaking 22.00 support (21.79 -.58) -Technical-
We also see the Nov. 2, 2009 swing low in play @ 21.51 & the rising 200-day SMA @ 21.35 for this NDX 100 component.
LoD now @ 21.76
11:01
AMR AMR Corp streamlines its airport processes (8.20 -0.12)
Co said, as part of its efforts to streamline processes and the customer experience during flight departure, it is placing greater focus on its existing Confirmed Flight Change service (CFC), while modifying its standby procedures for customers traveling within and between the United States, Puerto Rico, the U.S. Virgin Islands, and Canada. To streamline the departure process at the gate, only American's premium customers will continue to be eligible to standby at no charge on the day of travel for a flight on which they are not confirmed.
11:01
IAI iShares DJ Broker Dealer has displayed relative strength, approaching short term resistance (25.96 +0.31) -Technical-
The IAI held up well as the stock indices weakened this morning with recent upticks leaving it near a resistance zone at 25.99/26.05. This marks Monday's rebound high, the Jan low and intraday averages -- AMP +1.9%, SCHW +2.1%, GS +0.8%, MS +1.5%, NYX +2.6%, AMTD +3.6%, JEF +0.3%, LM +4.5%.
11:01
MITI Micromet highlights clinical plans and regulatory strategy for lead product candidate blinatumomab at its annual R&D day (7.96 -0.17)
Co outlines the design of a registration study for the Company's lead product candidate blinatumomab in acute lymphocytic leukemia, highlighted clinical data demonstrating the breadth of blinatumomab's activity in B-cell non-Hodgkin's lymphomas and announced plans to expand clinical development of blinatumomab in the U.S. "We are very pleased with the strong support received from the medical community for the planned pivotal study in adult ALL, Based on our discussions with the EMEA on the study design, we plan to initiate patient enrollment in the EU in mid-2010."
11:00
NVE NV Energy to purchase power from Central Nevada Geothermal Plant (11.08 -0.09)
Co announces that it has signed a 20-year power purchase agreement with a subsidiary of Ram Power Corporation for energy that will be produced by a new geothermal power plant under development in central Nevada. The 32-megawatt Clayton Valley Geothermal Project is expected to be generating electricity by 2014. Terms of the power purchase agreement, which is subject to approval by the Public Utilities Commission of Nevada, were not disclosed.
10:50
TECHX Dow and S&P leadership -- BAC, JPM, AIG, MS, BK, WFC, GS -Update- -Technical-
10:41
AIG American Intl displays relative strength as it lifts to fresh highs up into the 24.50 area (24.40 +1.32) -Technical-
20-day ema overhead near the 25.00 level.
10:37
XLF Relative Strength -Update- -Technical-
Energy/Commodity and interest rate sensitive sectors (XHB, IYR) paced the way lower this morning. Sectors that have displayed some relative strength in recent action include: Finance XLF / RKH, Biotech IBB, Pharma PPH, Health XLV.
10:35
VXX 1st hour sector ETF view -Technical-
Actively Traded Leading Sector ETF Plays:
VIX vol. index- VXX +3.5%, US Dollar index- UUP +.5%, iShares US broker/dealers- IAI +.5%, US bonds- TLT +.5%
Actively Traded Lagging Sector ETF Plays:
Solar power- TAN -4%, Steel- SLX -2.25%, RBOB gas- UGA -2.25%, SPDRS metals & mining- XME -2.25%, Gold miners- GDX -2.25%, SPDRS homebuilders- XHB -2%, Energy- IYE -1.75%, XLE -1.75%, India- INP -1.75%, Silver- SLV -1.5%, Crude/WTI oil- USO -1.5%, OIL -1.5%, Oil HLDRS- OIH -1.75%
10:28
COMDX Crude oil ticks to fresh lows at $72.71; now off $0.97 to $72.78
10:27
BIDU NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
BIDU +7%, MICC +5.25%, ATVI +1.5%, RIMM +1.5%, DELL +1.5%, FWLT +1.5%, ADBE +1.25%
NDX 100 Worst % Performers:
FSLR -3.75%, YHOO -3.5%, NWSA -3%, LOGI -2.5%, ILMN -2.5%, STLD -2.75%, LBTYA -2.25%, NRG -2%
NASDAQ TRIN @ +.75
NASDAQ A/D @ -1115
10:24
JPM Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
JPM +1%, BAC +.75%, MSFT +.15%
INDU Worst % Performers:
DIS -1.75%, CAT -1.5%, AA -1.5%, MRK -1.25%, CVX -1.25%, KO -1.25%, HD -1%
NYSE TRIN @ +1.5
NYSE A/D @ -1230
10:23
SPY S&P 500 holds on initial test of secondary support -Update- -Technical-
Support at 1059/1058 in The Technical Take has been tested in recent trade with some minor upticks noted. It will, however, take a push back through 1065 and then 1069 to improve the intraday tone. Failure leaves it vulnerable to further downticks. Initial support is at Monday's late low (1056) followed by the 1054/1053 zone.
10:19
NSU Nevsun Resources reports Assay results at the Harena VMS deposit, Eritrea (2.35 -0.07)
Co reports the final assays from the seventeen infill diamond drill holes at the Harena deposit within its Bisha exploration license in Eritrea. The highlights include: Third VMS near surface deposit on Bisha, mainly base metal (zinc) with some gold and additional feed for the Bisha mine.
10:17
XHB SPDR Homebuilders displays relative weakness quickly drops 2.5% off high, REITs IYR slides 1.8% off high -Technical-
10:16
COMDX Reminder: Crude oil inventories will be released at 11am ET on Friday, instead of today's regularly scheduled 10:30am ET release
10:11
HUM Humana shares dip to session lows in unison with the indices as price probes some noted support being carved out along the rising 50 day EMA & SMA (46.24 -1.68) -Technical-
50 day EMA = 46.05 & 50 day SMA = 45.85 with the Feb. swing low in place @ 45.65 so this should be an area on the radar for support.
LoD now @ 46.22
10:10
SPY Stock indices continue to weaken -- Dow -65, S&P -7.8, Nasdaq -14 -Update- -Technical-
Relative sector weakness (underperforming the S&P) has been noted in Commodity, Materials XLB, Housing XHB, Biotech IBB, Solar TAN, Gold Miners GDX, REITs IYR, Ag/Chem, Shipping SEA.
10:07
TAN Claymore Solar ETF slides to new low of 8.27 hovering slightly above its Feb/three month low at 8.24 (8.25 -0.20) -Technical-
Note that its Nov low and 9 month close low from Sep is at 8.12 with the Sep intraday low at 7.91.
10:06
COMDX Gold, silver trade to fresh lows as dollar index moves to new highs following the release of Ben Bernanke's commentary
Gold now lower by $9.50 to $1067.60; silver is down 19.5 cents to $15.24.
10:01
SPY Stock indices slide to new lows after Bernanke headlines hit the wires -- Dow -31, S&P -3.7, Nasdaq -4.6 -Update- -Technical-
09:48
DELL Dell gaps up to/pauses at its 200 and 50 day sma at 13.93 -- session high 13.92 (13.79 +0.24) -Technical-
The next area of interest is at its 50/200 day ema at 14.04/14.08.
09:48
FORR Forrester Rsrch beats by $0.07, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS below consensus, revs in-line (29.14 -0.05)
Reports Q4 (Dec) earnings of $0.35 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.28; revenues fell 2.2% year/year to $61.5 mln vs the $59.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.21-0.25, excluding non-recurring items, vs. $0.22 consensus; sees Q1 revs of $57.5-59.5 mln vs. $55.92 mln consensus. Co issues mixed guidance for FY10, sees EPS of $0.97-1.03, excluding non-recurring items, vs. $1.10 consensus; sees FY10 revs of $240-248 mln vs. $241.73 mln consensus. "Forrester's performance accelerated in the fourth quarter of 2009, capping a year in which we beat our plan. We met or exceeded our financial targets including revenue, operating margin, and EPS, and ended the year with client and dollar retention approaching pre-recession levels. Forrester's role-based strategy is yielding increased relevancy to our clients, as shown in our financial results in 2009. Coming out of the 2009 recession, we believe that now is the time to expand the sales force, invest in the infrastructure of the business, and enhance our client-facing technology. These investments will dampen the operating margins in 2010 as reflected in our full-year guidance."
09:44
TECHX Sector Weakness -Update- -Technical-
Sectors weighing on the action in early trade include: Solar TAN -1.4%, Trucking -1.1%, Paper -1.1%, Healthcare -1%, Gold Miners GDX -0.9%, Natural Gas -0.9%, Materials XLB -0.8%, Internet HHH -0.5%.
09:43
PAP Pacific Asia Petroleum announces it has entered into definitive agreements with certain accredited investors to sell in a registered direct offering an aggregate of 5 mln shares at a price of $4.00/share (4.45 +0.00)
09:43
BIDU Baidu.com climbs to modest gap up highs as it pushes into fresh all-time high territory (475.27 +40.19) -Update- -Technical-
09:40
TECHX Sector Watch -Technical-
Early upside leadership has come from Casino +1%, Software SWH +1%, Coal KOL +1%, Computer-Hardware +0.7%, Ag/Chem MOO +0.7%, Broker IAI +0.6%, Reg Bank RKH +0.5%, Semi SMH +0.5%.
09:40
COIN Converted Organics shipped a re-order for its organic granular and liquid fertilizer and soil amendment products to Maine-based Purely Organic Lawn Care (0.92 +0.04)
Co announced that, in preparation for the upcoming 2010 season, the Company shipped a re-order for its organic granular and liquid fertilizer and soil amendment products to Maine-based Purely Organic Lawn Care, one of the nation's largest distributors of organic products to the professional turf market. Purely Organic placed its initial order with Converted Organics in December, 2008 for the 2009 growing season.
09:38
SPY S&P 500 lifts slightly off early low/first level support -Technical-
The index slipped slightly off the open but held above initial support noted in The Technical Take at 1066/1065 and inched back into positive territory. First level resistance is at 1075.
09:37
HIG Hartford Financial-- One full trading day after earnings, price looks to retest the key support level being carved out from 22.25~22.00 (22.22 -.12) -Technical-
Early weakness from HIG with LoD now @ 22.15 with Feb. swing lows @ 21.97
09:36
GS Goldman Sachs probing early week high at 154.60 (154.41 +1.92) -Update- -Technical-
09:27
FRE Freddie Mac to purchase substantial number of seriously delinquent loans from PC Securities (1.20 )
Co announces that it will purchase substantially all 120 days or more delinquent mortgage loans from the company's related fixed-rate and adjustable-rate mortgage Participation Certificate securities.
09:07
On The Wires
The Shaw Group (SHAW) announces that it has been awarded a five-year worldwide environmental remediation services contract from the U.S. Army Corps of Engineers Engineering and Support Center, to provide munitions removal activities, environmental compliance and remediation services at U.S. Department of Defense sites around the world... MIPS Technologies (MIPS) and Mavrix Technology announce that they are working together to develop a MIPS-Based applications processor for mobile devices... Lung Rx, LLC, a wholly-owned subsidiary of United Therapeutics Corp (UTHR), announces that it has entered into a Development Agreement with ImmuneWorks to pursue development of ImmuneWorks' lead compound, IW001, a purified bovine Type V Collagen oral solution for the treatment of Idiopathic Pulmonary Fibrosis and Primary Graft Dysfunction in patients receiving lung transplant... Herley Industries (HRLY) announces that its Herley Lancaster division has received a follow-on contract valued at more than $1 mln from a major U.S. prime contractor to manufacture multi-function integrated microwave assemblies for a U.S. Navy electronic attack aircraft.... TheStreet.com, Inc. (TSCM) regained compliance with Nasdaq listing rule requiring the Company to timely file all required periodic financial reports with the Securities and Exchange Commission.
09:06
AZK Aurizon Mines announces results from its infill drilling program in the area of the Hosco zone (3.86 )
Co announces results from its infill drilling program in the area of the Hosco zone at its Joanna project. The objective of the infill drill program is to increase the in-pit mineral reserves defined in the Pre-Feasibility Study for the Hosco Deposit - Joanna Gold Project. Of the 27 holes, 15 holes returned at least one interval above 1.0 grams of gold per tonne over 20 metres (true thickness). Best results have been encountered in hole JA-09-382P with 1.8 grams of gold per tonne over 25.8 metres in the North Zone and in hole JA-09-439 with 2.2 grams of gold per tonne over 15.8 metres in the South Zone. These two results are located within 40 meters of the planned pit bottom.
09:02
GE General Electric unit formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves (15.63 )
GE Energy Financial Services, a unit of GE (GE), announced that it has formed partnerships to acquire West Texas natural gas and North Dakota oil and gas reserves for a total of nearly $200 million. In the first transaction, GE Energy Financial Services formed a partnership with independent oil and gas company Marlin Energy. Their new alliance acquired natural gas reserves in West Texas from an undisclosed seller for $65 million. GE Energy Financial Services will serve as limited partner. Marlin Energy will serve as both general partner of the partnership and operator of the assets. In the second transaction, GE Energy Financial Services has formed a partnership with Sequel Energy, LLC to acquire oil and gas reserves in the Williston Basin of North Dakota from Denver-based St. Mary Land & Exploration Company (SM) for $137 million. GE Energy Financial Services will serve as the limited partner, with Sequel - also based in Denver - serving as general partner and operator.
09:01
JRN Journal Commun announces the sale of PrimeNet (3.21 )
Co announces the sale of its PrimeNet operations in Clearwater, Florida, to PrimeNet Direct Marketing Solutions, LLC, a new company owned by PrimeNet President Mark Keefe, as Journal exits the direct marketing business. For Journal Communications' accounting purposes, PrimeNet will be treated as a discontinued operation in 2010 financial statements.
09:00
ENS Enersys appoints Michael Schmidtlein Senior Vice President Finance and Chief Financial Officer (21.79 )
Co announces that Michael Schmidtlein has been named Senior Vice President Finance and Chief Financial Officer effective immediately. Schmidtlein has been serving as interim chief financial officer since November 23, 2009.
08:59
CLSN Celsion announces the DMC has recommended that Celsion continue to enroll patients in the pivotal Phase III ThermoDox clinical trial (2.76 )
Co announced that after reviewing safety data from 120 patients enrolled in the pivotal Phase III ThermoDox clinical trial ("HEAT" trial) for primary liver cancer, the Data Monitoring Committee (DMC) has recommended that Celsion continue to enroll patients in the trial. The DMC for the HEAT study is comprised of an independent group of medical and scientific experts who are responsible for reviewing and evaluating patient safety and efficacy data. The DMC reviews safety data at regular intervals with the mandate to ensure patient safety and monitor the quality and overall conduct of the study. The study design and statistical plan for the Phase III ThermoDox trial also incorporates a pre-planned interim efficacy analysis by the DMC after patient enrollment is complete, with the intent to stop the study if there is overwhelming evidence of treatment benefit or an extremely low probability of treatment success.
08:47
TGH Textainer Group beats by $0.11, beats on revs (17.26 )
Reports Q4 (Dec) earnings of $0.45 per share, ex-items, $0.11 better than the First Call consensus of $0.34; revenues rose 2.4% year/year to $67.2 mln vs the $61 mln consensus. Co states, "Counterparty risk has been reduced as several major container shipping lines have been able to recapitalize. Despite the continued challenging environment, to date, Textainer has neither seen any bankruptcies among our major customers nor seen any major container shipping line failures. Drewry, a shipping consultancy firm, is forecasting a modest expansion in container traffic of 3-4% in 2010, and has suggested that the industry may have passed through the worst of the global recession..."
08:47
On The Wires
Quaterra Resources (QMM) announces that Goldcorp (GG), has entered into a binding Investment Framework Agreement with the Company. The IFA formalizes the terms of a previously announced Letter of Intent that provides Goldcorp with an option to acquire an interest in certain mining properties held by or acquired by Quaterra in central Mexico in return for funding a two-year generative exploration program by the Company through a private placement investment of US$10 mln in the Company... UQM Technologies (UQM) has received an order from Quantum Fuel Systems Technologies Worldwide (QTWW) for a propulsion system to be incorporated into Quantum's Quiet high efficiency battery electric drive system to power an advanced electric postal delivery vehicle being developed by Quantum for the U.S. Postal Service.
08:39
NYT New York Times beats by $0.06, beats on revs (11.67 )
Reports Q4 (Dec) earnings of $0.44 per share, $0.06 better than the First Call consensus of $0.38; revenues fell 11.5% year/year to $681.2 mln vs the $653.2 mln consensus. Janet Robinson, president and CEO, commented: "In the fourth quarter total advertising revenues declined approximately 15 percent compared with the fourth quarter of 2008, as a 20 percent decrease in print advertising was offset in part by growth in digital advertising, which rose nearly 11%. While the advertising market remains challenging, the rate of decline across the major advertising categories - national, retail and classified - lessened as the quarter progressed. In 2010, the Company expects to see the full-year benefit of several actions it took in 2009, including the consolidation of the plants and amendments to various labor agreements at The Boston Globe, and freezing of various Company-sponsored qualified and non-qualified pension plans, supplemental executive retirement plan and various other non-qualified defined benefit plans."
08:39
EZPW EZCORP names Paul Rothamel President and announces CEO succession plan (17.75 )
Co announces that Paul Rothamel has been named President, in addition to his role as Chief Operating Officer, and has also been elected to the Board of Directors. The Company also announced that the Board has designated Mr. Rothamel as the successor to current Chief Executive Officer, Joe Rotunda, effective when Mr. Rotunda retires, which is expected to be within the next year.
08:35
OXPS OptionsXpress reports key monthly performance metrics for Jan 2010; retail DARTs grew 20% compared to Dec (14.52 )
Co announces key monthly performance metrics for January. Highlights for the month included: 1) Retail daily average revenue trades of 33,900 -10% higher than January 2009, 20% higher than Dec 2009; 2) Institutional daily average revenue trades of 13,300 -20% lower than January 2009, 20% higher than December 2009; 3) Net new customer accounts of 2,000. Ending customer accounts of 353,200 -10% higher than January 2009, 1% higher than December 2009; 4) Ending client assets of $6.8 billion -39% higher than Jan 2009, 3% lower than December 2009; and 5) Ending margin balances of $172 million -29% higher than January 2009, 15% higher than December 2009
08:34
CSC Computer Sciences beats by $0.13, misses on revs; reaffirms FY10 EPS and rev guidance (52.50 )
Reports Q3 (Dec) earnings of $1.36 per share, $0.13 better than the First Call consensus of $1.23; revenues were unchanged from the year-ago period at $3.95 bln. Co reaffirms guidance for FY10, sees EPS at high end of $4.80-5.00 vs. $4.97 consensus; sees FY10 revs of $16.0-16.5 vs. $16.25 bln consensus. Co reports: New business awards of $6.8 billion for the quarter and $14.9 billion through three quarters, an increase of 17% over the previous year; Pre-tax margin of 7.36%, representing a 71 basis point improvement from the previous year; Operating margin of 9.54%, a 15 basis point improvement from the previous year. "The market trend towards increased Outsourcing continues, as evidenced by our MSS bookings, and this underlines one of our core competencies in delivering customer value. We expect this trend to fuel sequential growth in the fourth quarter. In BSS, our Verticals show encouraging growth signs, particularly in transformational and compliance projects, and this is expected to contribute to fourth quarter growth. We anticipate our NPS business will return to positive growth with the awarding of delayed contracts and closure of other opportunities, delivering mid single digit growth for the full year in this sector."
08:31
AVNR Avanir Pharmaceuticals announces issuance of new U.S. Zenvia Patent (1.73 )
Co announced that the United States Patent and Trademark Office (USPTO) has issued the Company a new patent for its lead drug candidate Zenvia (dextromethorphan/quinidine), extending the period of patent protection in the United States into late 2025. U.S. patent number 7,659,282 titled "Pharmaceutical Compositions Comprising Dextromethorphan and Quinidine for the Treatment of Neurological Disorders" was issued on February 9, 2010. The new patent will provide AVANIR with patent protection for low-dose quinidine formulations of Zenvia used to treat pseudobulbar affect (PBA).
08:30
CBG CB Richard Ellis announces early extension of $132.5 million of revolver and $24.1 million of term debt maturities (12.28 )
The co announces that it has reached agreement with its lenders to extend maturities on approximately $156.6 million of debt by offering certain holders the ability to swap into new or existing tranches with longer dated maturities. The Company transferred approximately $132.5 million of its $358 million Revolver credit facility (expiring June 2011) into its existing Revolver 2 credit facility expiring June 2013. Total Revolver 2 borrowing capacity is now $333 million. A lender also agreed to swap approximately $24.1 million of existing Tranche A term debt (maturing December 2011) to a new Tranche A-3a maturing December 2013. The new Tranche A-3a has identical pricing to the existing Tranche A-3 and amortization of 1% per year. In conjunction with these extensions, lenders also opted to exchange $115.5M of Tranche A debt for new Tranche A-4 debt. The new debt will have the same maturity date as the existing Tranche A debt, reduced required amortization and an initial higher interest rate of 50 basis points (increasing by an additional 225 basis points on the balance outstanding, if any, on April 1, 2010).
08:10
ECONX Reminder: Trade Balance data due out in about 20 min at 8:30ET
08:09
On The Wires
Buckeye Partners (BPL) and NOVA Chemicals announce that they have signed a memorandum of understanding regarding the evaluation and development of a mixed natural gas liquids pipeline from the Marcellus Basin in Pennsylvania to the refining and petrochemical complex in the Sarnia-Lambton area in Ontario, Canada... Fluor Corporation (FLR) announces that DuPont Engineering has awarded the company a construction, maintenance and services contract for nine sites throughout the U.S. and Puerto Rico... AsiaInfo Holdings (ASIA) announces that it has signed contracts to upgrade China Mobile's Business Intelligence systems to Next Generation Business Analysis Support System phase II for Liaoning, Shanghai and Zhejiang province... Honeywell (HON) announced that it would be turbocharging 70% of the U.S. diesel light truck segment following the launch of Ford's (F) 2011 Super Duty Trucks... Nuance Communications (NUAN) announces that its Nuance Mobile Care solution has shipped on more than eight million mobile handsets in the past twelve months.
08:08
Celsius Holdings (CELH) prices offering
Co announces that its registration statement for its public offering of 900,000 units has been declared effective by the SEC. The purchase price per unit is $16.125. Each unit consists of four shares of common stock and one warrant to purchase one share of common stock. The common stock and warrants have been listed on the Nasdaq Capital Market under the symbols "CELH" and "CELHW," respectively. The warrants are exercisable at a price of $5.32 per share any time through Feb. 8, 2013.
08:08
GTEC Global Defense Technology & Systems reports Q4 revs of $55.7 mln vs $55.08 mln consensus (13.63 )
Co announces preliminary fourth quarter revenues of $55.7 mln vs $55.08 mln consensus and fiscal year 2009 revenues of $212.8 mln. These results represent 20% and 12% growth over 2008 (all organic), respectively. The Company's preliminary segment revenue from Technology and Intelligence Services is $25.4 million for the fourth quarter and $90.4 million for fiscal year 2009. Preliminary segment revenue for the Force Mobility and Modernization Systems segment is $30.3 million for the fourth quarter and $122.4 million for the fiscal year 2009. Both segments produced solid operating income which will be detailed on the Company's year-end conference call scheduled for February 23, 2010. Additionally, the Company will provide its initial 2010 guidance on the upcoming earnings call. "As we enter 2010 with the FY10 Department of Defense appropriations bill passed and the President's decision on the Afghanistan force levels articulated, we have seen an increase in our pipeline of potential awards for our FMMS business. We anticipate several near-term awards totaling over $50 mln from our growing FMMS pipeline and these awards, coupled with the strong backlog in our TIS segment, provide confidence that we will meet our objectives of 14% to 20% organic revenue growth for the year and in fact could provide upside to those figures... Based on the timing of anticipated awards, which were originally expected by January 2010 but were delayed by the timing of the defense appropriations bill passage and the decision to increase troop levels in Afghanistan, our quarterly revenue for the year will have more variability. The delays in new contract awards over the past two months are estimated to impact our first quarter 2010 revenues in our FMMS segment by approximately $10 million, but we anticipate that the new orders will result in a quick revenue recovery beginning in the second quarter of 2010. We continue to see strong demand for our solutions that support our customers' missions in expeditionary environments that have minimal infrastructure."
08:07
BBI Blockbuster Tribune Media Services entered into an agreement (0.38 )
Tribune Media Services and Blockbuster have entered into an agreement where TMS will map its movie metadata to a specific library of Blockbuster movie content. TiVo (TIVO) is the first joint customer of TMS and Blockbuster to deploy the BLOCKBUSTER On Demand service. Through the service, owners of broadband-connected TiVo Series2, Series3(TM) and TiVo HD DVRs have instant access to the Blockbuster catalog of new releases, popular hits and independent movie favorites.
08:07
LIOX Lionbridge Tech reports Q4 results
Lionbridge Tech reports $0.03 vs ($0.01) First Call consensus; revs were flat year/year to $105.0 mln vs $100.85 mln First Call consensus. Co issues in-line guidance for 1Q10, sees revenues of $95 mln to $100 mln vs $98.90 First Call consensus
08:06
DF Dean Foods misses by $0.06, beats on revs; guides FY10 EPS below consensus (17.64 )
Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $0.37; revenues fell 2.6% year/year to $3.0 bln vs the $2.95 bln consensus. Co issues downside guidance for FY10, sees EPS of $1.54-1.64, excluding non-recurring items, vs. $1.69 consensus. Co says Q4 was a challenging finish to an otherwise highly successful year. As the year came to a close, several of its businesses fell short of expectations. At Fresh Dairy Direct, retailer and competitive pressures that had been apparent through much of the year became significantly more pronounced in 2H09 and in Q4, and were exacerbated by sharply rising commodities.
08:04
LPX Louisiana-Pacific misses by $0.12, beats on revs (7.20 )
Reports Q4 (Dec) loss of $0.31 per share, excluding non-recurring items, $0.12 worse than the First Call consensus of ($0.19); revenues rose 10.0% year/year to $275 mln vs the $258.4 mln consensus. "The consensus view is that the housing market in 2010 will be better than last year although there is much debate about the pace and magnitude of the recovery. With current stimulus programs scheduled to end and new programs being considered to improve the job situation and access to funds, the economy is likely to remain volatile. From LP's perspective, we have demonstrated the flexibility to improve results in a declining market. I believe that our people will continue to respond successfully to whatever market situation arises this year."
08:04
TSL Trina Solar achieved "breakthrough" in its development of monocrystalline cell technology (23.13 )
Co announced it achieved a breakthrough in its development of monocrystalline cell technology. As part of the Company's ongoing research and development strategy, Trina Solar has developed a square monocrystalline cell with enhanced power output using its proprietary improved cell manufacturing process. Using specially designed metallization and passivation techniques, the advanced cell structure is expected to significantly boost cell conversion efficiency, achieving up to 18.8% efficiency in test laboratory production. In addition, this technology is expected to improve module output due to increased light absorbing surface area of the square shaped cell.
08:04
IHS IHS acquires Emerging Energy Research (50.29 0.00)
Co announced the acquisition of Emerging Energy Research, a advisory firm who help clients understand, leverage and exploit the technological, regulatory and competitive trends in the global emerging energy sector. The purchase price is approximately $18 mln.
08:04
ID L-1 Identity Solutions beats by $0.06, misses on revs; guides FY10 revs in-line (7.37 )
Reports Q4 (Dec) earnings of $0.05 per share, ex-SBC, $0.06 better than the First Call consensus of ($0.01); revenues rose 8.6% year/year to $160.2 mln vs the $163.7 mln consensus. Co issues in-line guidance for FY10, sees FY10 revs of $740-$760 mln vs. $742.58 mln consensus and vs. prior guidance of $750-$775 mln. Unchanged are expectations for organic growth of 10-15%, Adjusted EBITDA of $110.0-$120.0 mln, and unlevered free cash flow of between $55.0-$65.0 mln. Capital expenditures are expected to be $60.0 mln for 2010 as L-1 completes the build out of infrastructure required for new State driver's license contract awards. The company expects capital expenditures to decline significantly in 2011, which will result in a commensurate improvement in free cash flow.
08:04
CRIS Curis publishes CUDC-101 medicinal chemistry data (2.29 )
Co announces that a medicinal chemistry paper related to the discovery of CUDC-101, Curis's HDAC, EGFR and Her2 inhibitor, was published online in the Journal of Medicinal Chemistry and also will be published in an upcoming print version of the journal. The paper describes the structure-based rational drug design, synthesis and structure-activity relationship of a class of novel compounds that included CUDC-101 and the identification of CUDC-101 as a clinical candidate. Related in vitro and in vivo data associated with these compounds are also included.
08:03
SIAL Sigma-Aldrich beats by $0.03, beats on revs; guides FY10 EPS in-line (48.25 )
Reports Q4 (Dec) earnings of $0.75 per share, $0.03 better than the First Call consensus of $0.72; revenues rose 12.4% year/year to $573 mln vs the $560.5 mln consensus. Co issues in-line guidance for FY10, sees EPS of $3.00-3.15 vs. $3.14 consensus. At a meeting held on February 9, 2010, the Company's Directors declared a 10.3% increase in the quarterly cash dividend to $0.16 per share. Organic sales for the full year 2010 are expected to increase in a mid-single digit range. Reported sales are likely to increase additionally by about 1% if exchange rates remain near current levels.
08:03
HYTM Hythiam announces peer-reviewed publication of randomized, double-blind, placebo-controlled study (0.40 )
Co announces that the results of a double-blind, placebo-controlled study on the impact of the medical component of the PROMETA(R) Treatment Program on methamphetamine dependent subjects were published in the Journal of Psychopharmacology, a peer-reviewed, international journal that publishes original research and review articles on preclinical and clinical aspects of psychopharmacology. The journal provides a forum for researchers and practicing clinicians on the effects of drugs on animal and human behavior, and the mechanisms underlying these effects.
08:02
CAVO Cavico signed an additional construction contract at the Hua Na Hydropower plant (4.46 )
Co announced that it signed an additional construction contract at the Hua Na Hydropower plant with Lilama. The revenue for this additional contract is expected to be $11.9 million. Cavico signed the initial contract for $4.9 million with Lilama for construction work at this project in April 2009. According to the term of this new agreement, Cavico's majority-owned subsidiary, Cavico Power & Resource, will be responsible for the construction of the sub headrace tunnel No. 2, a water diversion tunnel and a surge sharp tank.
08:01
LM Legg Mason reports preliminary assets under management of $679 billion as of January 31, 2010. (25.08 )
08:00
OSK Oshkosh Truck receives $158 million order for U.S. Marine Corps Heavy Fleet (39.06 )
08:00
COMDX Gold, silver and crude oil are all pulling back from their best levels as the dollar index moves to its best levels following Greece headlines
07:58
Moody's restates need for differentiation between Spain, Portugal & Greece
Among the three governments -- Spain (Aaa), Portugal (Aa2) and Greece (A2) -- whose public finances are currently the focus of much market speculation, only Greece faces material challenges, says Moody's Investors Service in a new Special Comment... In the report, Moody's reiterates the need for risk differentiation among the three southern European countries. "Spain, Portugal and Greece may share the same currency, but they do not display the same credit profile," says Kristin Lindow, Senior Vice President in Moody's Sovereign Risk Group. Moreover, Moody's new report says that concerns about the ability of the three countries to roll over their existing debt and finance their ongoing budget deficits have so far not been substantiated by hard evidence. However, Moody's acknowledges that market spreads in Spain, Portugal and Greece now suggest much larger credit risk differentiation than is indicated by their ratings. In response to these differences in perception, Moody's new report offers an assessment of the immediate liquidity risks that it believes are actually faced by the southern European sovereigns and provides the fundamental analysis underpinning its differentiated rating opinions. Moody's considers Spain's Aaa rating to be well anchored. Meanwhile, Portugal's rating is subject to some moderate downward pressure as illustrated by the negative outlook. According to the rating agency, these situations are not directly comparable to that of Greece. Moody's reiterates that Greece's ambitious government plans could -- if implemented as promised -- stabilize the country's rating.
07:52
LVLT Level 3 misses by $0.01, reports revs in-line (1.38 )
Reports Q4 (Dec) loss of $0.11 per share, $0.01 worse than the First Call consensus of ($0.10); revenues fell 12.0% year/year to $924 mln vs the $917.5 mln consensus. Co states, "In 2010, while we are still cautious about the effect the economy will have on our business, we believe it is the right time to increase our investment for growth. As such, we expect to see an increase in capital expenditures in the coming year. We are expanding our sales force and sales support operations. As a result, we expect overall operating expenses to increase slightly compared to 2009."
07:43
On The Wires
Zale Corporation (ZLC) announces that it has hired Peter J. Solomon Company, a leading independent investment banking advisory firm to the retail industry, to advise the Company in identifying and analyzing alternatives to maximize its financial flexibility... St. Jude Medical (STJ) announces the European CE Mark approval of its USB cellular adaptor for the Merlin@home transmitter... Solar Power (OTCBB: SOPW) announces that it has signed a sales representation agreement with Annerher S.L. of Barcelona, Spain to establish Yes! Solar PowerTM dealers in Spain and Portugal... Northern Oil and Gas (NOG) announces the completion of the Stallion 1-1-12H, a horizontal oil well in Mountrail County, North Dakota targeting the middle Bakken formation. The Stallion 1-1-12H was completed with an initial production rate of 2,735 barrels of oil equivalent per day and averaged 2,697 barrels of oil equivalent over the three days of flow-testing... Globalstar (GSAT) announces that it has commenced construction of a satellite tracking station in Botswana, located in Southern Africa.
07:42
COMDX Crude oil, Natural gas inventories pushed back until Friday
According to the EIA, the Weekly Petroleum Status Report, for the week ending Feb 5, 2010, scheduled to be published at 10:30am ET on Feb 10, 2010, is now scheduled to be published at 11:00am ET on Friday, Feb 12, 2010. The Weekly Natural Gas Storage Report scheduled to be published at 10:30 A.M. on Feb 11, 2010, is now scheduled to be published at 10:30am ET on Friday, Feb 12, 2010.
07:36
SON Sonoco Products beats by $0.08, beats on revs; guides Q1 EPS in-line; guides FY10 EPS in-line (27.22 )
Reports Q4 (Dec) earnings of $0.58 per share, $0.08 better than the First Call consensus of $0.50; revenues rose 7.1% year/year to $1 bln vs the $0.97 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.40-$0.45 vs. $0.42 consensus. Co issues in-line guidance for FY10, sees EPS of $2.00 to $2.15 vs. $2.03 consensus.
07:35
SNI Scripps Networks Interactive reports EPS in-line, beats on revs (43.76 )
Reports Q4 (Dec) earnings of $0.52 per share, excluding non-recurring items, in-line with the First Call consensus of $0.52; revenues rose 6.0% year/year to $429.7 mln vs the $412.1 mln consensus. 2010 Guidance: Total affiliate fee revenue is expected to be $530.0-540.0 mln. Travel Channel represents about $100 mln of the total affiliate fee revenue. Programming expenses are expected to be $380.0-400.0 mln. Non-programming expenses are expected to be $550.0-570.0 mln, including one-time transition costs related to the Travel Channel. Interactive Services Segment profit from the co's Shopzilla comparison shopping business is expected to be $33.0-35.0 mln.
07:33
CCE Coca-Cola Ent beats by $0.02, misses on revs; reafffirms FY10 outlook; confirms share buyback plan (20.34 )
Reports Q4 (Dec) earnings of $0.22 per share, $0.02 better than the First Call consensus of $0.20; revenues fell 2.3% year/year to $5.12 bln vs the $5.28 bln consensus. CCE reaffirmed the guidance delivered in its December conference call with analysts. For 2010, the co expects operating income will increase in a mid to high single-digit range, driven by mid single-digit growth in both Europe and North America. Revenue should increase at a low single-digit rate, driven by mid single-digit growth in Europe and essentially flat revenue in North America. Comparable earnings per diluted common share will increase at a high single-digit rate, excluding currency. Though it is too early to accurately evaluate the 2010 currency impact, at current rates, currency would have a negligible impact to full-year EPS. The company also expects strong free cash flow of approximately $800 million, and capital expenditures of approximately $1 billion. Interest expense is expected to decline modestly, and the effective tax rate for 2010 is expected to be approximately 26 percent. Guidance excludes items affecting comparability and is currency-neutral. CCE also confirmed that it plans to repurchase up to $600 million of its common stock by the end of 2010 under previously authorized share repurchase programs.
07:33
WXS Wright Express beats by $0.02, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY10 EPS in-line, revs above consensus (28.50 )
Reports Q4 (Dec) earnings of $0.56 per share, $0.02 better than the First Call consensus of $0.54; revenues rose 3.6% year/year to $83.8 mln vs the $82.3 mln consensus. Co issues mixed guidance for Q1, sees adjusted EPS of $0.53-$0.58 vs. $0.57 consensus; sees Q1 revs of $82-$87 mln vs. $81.07 mln consensus. Co issues mixed guidance for FY10, sees adjusted EPS of $2.26-$2.46 vs. $2.36 consensus; sees FY10 revs of $360-$370 mln vs. $348.82 mln consensus.
07:31
CRDN Ceradyne receives phase I award for Next Generation Ceramic Missile Radomes (20.70 +0.03)
Co announced that it has been awarded a $342,000 research phase I contract by NAVAIR, China Lake, California, to develop ceramic missile radome ("nose cone"). The material will be a variation of Ceradyne's silicon nitride advanced ceramic technology. Ceradyne intends to subcontract certain tasks to the Boeing (BA). Co said "Although phase I will be completed in 2010, we anticipate other phases over a 3-year period will be awarded."
07:31
MON Monsanto reaffirms FY10 EPS guidance of $3.10-3.30 vs $3.28 First Call consensus, ahead of company presentation at GS conference (75.72 )
07:31
YMI YM BioSciences granted two US patents for AeroLEF (1.53 )
Co announced that it has been granted two additional patents in the US for AeroLEF, the Company's proprietary, inhaled-delivery composition of free and liposome-encapsulated fentanyl in development for the treatment of moderate to severe acute pain. US patent numbers 7,648,981 and 7,648,982 extend the life of YM's AeroLEF patent estate in the US to 2024. The Company also announced that AeroLEF's patent estate has expanded to include other territories with the issuance of European patent number 1,603,533 and several patent allowances in China, India, Mexico and other territories.
07:30
GENZ Genzyme announces Mipomersen phase 3 study in patients with heterozygous familial hypercholesterolemia meets primary endpoint (54.87 )
Genzyme (GENZ) and Isis Pharmaceuticals (ISIS) announces that the phase 3 study of mipomersen in patients with heterozygous familial hypercholesterolemia (heFH) met its primary endpoint with a highly statistically significant 28% reduction in LDL-cholesterol after 26 weeks of treatment, compared with an increase of 5% for placebo. All of the 124 patients in the study had pre-existing coronary artery disease, were taking a maximally tolerated dose of a statin and in many cases additional lipid-lowering drugs. Patients' average LDL-C at baseline was 150 mg/dL. Patients treated with mipomersen had an average LDL-C level of 104 mg/dL at the end of the study. There were no new areas of safety concerns identified in the trial. Of the 83 patients treated with mipomersen, 73 completed the study; nine of the discontinuations were related to adverse events. Consistent with previous studies evaluating mipomersen, the most commonly observed adverse events were injection site reactions and flu-like symptoms.
07:29
SSRI Silver Standard reports on Pirquitas Mine (17.73 )
Co reports that the ramp-up at its wholly-owned Pirquitas Mine in Argentina is proceeding well and the engineering work for the San Luis Project in Peru and the Pitarrilla Project in Mexico is ongoing. Production in 2010 is planned to be seven million ounces of silver at an average operating cost of $9.00 per ounce silver (net of by-product credits).
07:24
ETP Energy Transfer Partners, LP announces expansion of Tiger Pipeline (44.13 )
Co announces the expansion of the planned Tiger Pipeline that will service the Haynesville Shale producing region in Louisiana and East Texas. Energy Transfer has entered into a binding, 10-year agreement with the expansion's foundation shipper for 400 mln cubic feet per day of capacity, bringing the pipeline's long-term contractual commitments to 2.4 bln cubic feet per day. Energy Transfer will launch a binding open season later this month to solicit additional shipper interest in the Tiger Pipeline expansion. Ultimate capacity of the expansion will be based upon producer response.
07:21
ICE IntercontinentalExchange misses by $0.01, reports revs in-line; raises share buyback program 50% to $300 mln (98.87 )
Reports Q4 (Dec) earnings of $1.13 per share, $0.01 worse than the First Call consensus of $1.14; revenues rose 24.2% year/year to $257 mln vs the $256.7 mln consensus. Quarterly consolidated transaction and clearing fee revenues increased 29% to $229 mln, from $178 mln in the fourth quarter of 2008. The increase in transaction and clearing fee revenues was driven primarily by strong trading volume in ICE's futures and OTC energy segments, new products, and the addition of credit derivatives execution, processing and clearing. Co has raised its buyback program by $100 mln to $300 mln. ICE currently expects 2010 CDS clearing revenue in the range of $60 mln to $80 mln based upon assumptions relating to product roll outs, regulatory approvals, additional customers, founding member pricing structures and a gradual improvement in trading activity in the CDS market. After expenses and the 50% profit sharing with the former owners of TCC, ICE expects approximately 16% to 20% of the projected revenues to be recorded as net income. In 2010, headcount is expected to increase between 4% and 5% for the full year, excluding any personnel additions relating to merger and acquisition activity in 2010. ICE reiterates its guidance for non-cash compensation expense in the range of $45 mln to $49 mln for 2010. ICE expects 2010 capital expenditures in the range of $25 mln to $30 mln, driven by continued investments in trading and clearing technology and data centers. ICE expects depreciation and amortization for 2010 in the range of $110 mln to $114 mln, including $26 mln related to the amortization of the exclusive Russell Index license and $35 mln for the amortization of intangibles associated with prior acquisitions. ICE expects interest expense in the range of $20 mln to $25 mln in 2010.
07:15
ABD ACCO Brands misses by $0.01, beats on revs (7.14 )
Reports Q4 (Dec) earnings of $0.21 per share, $0.01 worse than the First Call consensus of $0.22; revenues fell 0.2% year/year to $352.8 mln vs the $332.3 mln consensus. The company anticipates that 2010 will continue to be challenging due to uncertainty around consumer and business spending, particularly regarding higher-margin durable products. Despite this, the company expects sales to be flat to slightly higher driven by share gains, which are expected to offset continued lower demand. Based on today's exchange rates, foreign currency should further increase sales. The company expects to expand adjusted EBITDA margins by three-quarters to a full percentage point due to an improvement in gross profit margin, which will be partially offset by an increase in selling, general and administrative expenses. Targeted free cash flow, after interest, taxes and capital expenditures, is expected to be approximately $50-60 million.
07:13
AMG Affiliated Managers announces acquisition of private equity fund-of-funds manager Pantheon (62.45 )
The co and Russell Investments, a subsidiary of Northwestern Mutual Life Insurance Company, have reached a definitive agreement for AMG to acquire the business of Pantheon Ventures, a Russell Investments subsidiary. Under the terms of the purchase agreement, AMG will pay approximately $775 million in cash with the potential for additional payments over the next five years, contingent on the growth of Pantheon's business. Following the closing of the transaction, Pantheon's management team will own a meaningful stake in the partnership and continue to direct the firm's day-to-day operations.
07:13
OMC Omnicom beats by $0.01, beats on revs (35.25 )
Reports Q4 (Dec) earnings of $0.73 per share, $0.01 better than the First Call consensus of $0.72; revenues fell 3.1% year/year to $3.27 bln vs the $3.18 bln consensus. Domestic revenue for the fourth quarter of 2009 decreased 7.3% to $1,630.4 million compared to $1,759.5 million in the fourth quarter of 2008. International revenue increased 1.5% to $1,635.5 million compared to $1,611.8 million in the fourth quarter of 2008.
07:12
MMC Marsh McLennan beats by $0.01, beats on revs (22.19 )
Reports Q4 (Dec) earnings of $0.38 per share, $0.01 better than the First Call consensus of $0.37; revenues rose 3.4% year/year to $2.73 bln vs the $2.56 bln consensus. In the fourth quarter of 2009, Marsh announced an agreement to acquire HSBC Insurance Brokers Ltd, an international provider of risk intermediary and risk advisory services headquartered in London. The transaction is expected to close early in the second quarter. "I am particularly pleased with our fourth quarter results since each of our operating segments achieved double-digit growth in adjusted operating income."
07:11
TDG Transdigm Group misses by $0.01, misses on revs; guides FY10 EPS in-line, revs in-line (48.35 )
Reports Q1 (Dec) earnings of $0.70 per share, $0.01 worse than the First Call consensus of $0.71; revenues rose 1.7% year/year to $184.3 mln vs the $188.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $3.00-3.25 vs. $3.11 consensus; sees FY10 revs of $800-831 mln vs. $808.57 mln consensus. "We are increasing our annual guidance to reflect the acquisition of the Dukes aerospace business, our current market outlook, and the change in classification of the Company's dividend equivalent payments. We remain cautious about the pace of recovery in both the worldwide economy and the aerospace markets."
07:08
<p>ALU Alcatel-Lucent: AT&T Selects Alcatel-Lucent as LTE Equipment Supplier (3.26 )
Alcatel-Lucent (ALU) announced that AT&T (T) has selected Alcatel-Lucent as one of two equipment suppliers for its planned deployment of LTE mobile broadband technology. Supplier selection paves the way for planned field trials of LTE technology later this year with commercial deployment scheduled to begin in 2011.
07:06
S Sprint Nextel misses by $0.15, misses on revs; sees YoY improvments in subscriber losses for 2010 (3.65 )
Reports Q4 (Dec) loss of $0.34 per share, $0.15 worse than the First Call consensus of ($0.19); revenues fell 6.7% year/year to $7.87 bln vs the $8.03 bln consensus. The co served 48.1 mln customers at the end of the fourth quarter of 2009, compared to 48.3 mln at the end of the third quarter of 2009. This includes 34.0 mln post-paid subscribers (26.0 mln on CDMA, 7.3 mln on iDEN, and 725,000 Power Source users who utilize both networks), 10.7 mln prepaid subscribers (5.7 mln on iDEN and 5.0 mln on CDMA) and almost 3.5 mln wholesale and affiliate subscribers, all of whom utilize our CDMA network. For the quarter, net retail subscribers, excluding transfers from business combinations, declined by a total of 69,000, and net wireless customers declined by approximately 148,000, including net losses of 504,000 post-paid customers. Post-paid churn in the quarter was 2.11% compared to 2.16% in the year-ago period and 2.17% in the third quarter of 2009. The YoY improvement in churn is primarily due to improved credit quality of our customer base. The sequential improvement in churn is mostly due to seasonality. Prepaid churn in 4Q09 was 5.56%, compared to 8.20% in the year-ago period and 6.65% in 3Q09. The year-over-year improvement in churn is due to increased subscriber additions related to our national Boost Monthly Unlimited offering. Sprint Nextel expects that both post-paid and total subscriber losses will improve in 2010, as compared to 2009. The co expects full-year capital expenditures in 2010 to be up to $2 bln. In addition, the co expects to continue to generate positive FCF during 2010.
07:05
MTOX Medtox Scientific misses by $0.10, misses on revs (8.48 )
Reports Q4 (Dec) loss of $0.02 per share, $0.10 worse than the First Call consensus of $0.08; revenues fell 4.3% year/year to $19.9 mln vs the $21.8 mln consensus.
07:04
SKYW SkyWest reports Jan traffic (14.25 )
Co reported a 9.9 percent increase in revenue passenger miles (RPMs) for January, while available seat miles (ASMs) increased 8.4 percent compared to the same period last year. The combined airlines generated 1.37 billion RPMs for the month, while ASMs increased to 1.87 billion. Load factor was up 1.0 percentage points to 73.3 percent compared to 72.3 percent for the same period last year. Passenger boardings for January totaled 2,737,931 a 12.0 percent increase from January 2008.
07:03
JNY Jones Apparel reports EPS in-line, misses on revs (15.32 )
Reports Q4 (Dec) earnings of $0.11 per share, in-line with the First Call consensus of $0.11; revenues fell 8.3% year/year to $777 mln vs the $785 mln consensus. Gross profit margin increased 480 basis points to 34.3% for the fourth quarter, reflecting the benefits of careful inventory management. Wesley R. Card, Jones Apparel Group Chief Executive Officer, stated: "Our fourth quarter results were reflective of today's macroeconomic situation, which was marked by both low consumer confidence and spending levels. We are encouraged by our improved operating margins and the performance of our Retail business, which was profitable in the quarter and posted an increase in comparable store sales of 2.0%."
07:03
WYN Wyndham Worldwide beats by $0.03, beats on revs; guides FY09 revs in-line (21.22 )
Reports Q4 (Dec) earnings of $0.40 per share, $0.03 better than the First Call consensus of $0.37; revenues rose 0.2% year/year to $913 mln vs the $855.7 mln consensus. Co issues in-line guidance for FY09, sees FY09 revs of $3.5-3.9 bln vs. $3.69 bln consensus. Co also sees FY10 adjusted EBITDA of $775 - $800 million. The co's Board of Directors authorized an increase of the quarterly cash dividend to $0.12 from $0.04 per share, beginning with the dividend that is expected to be declared in the first quarter of 2010. With this increase, the dividend is equivalent to an annual rate of $0.48 per share. The co also announced plans to resume repurchase of its common stock under its existing $200 million stock repurchase program, which currently has $157 million remaining capacity.
07:03
MDZ MDS Inc announces agreements to divest MDS Pharma Services' Early Stage business (7.92 )
Co announces that it has signed agreements to divest its remaining MDS Pharma Services Early Stage business, which provides Discovery through Phase IIa clinical trial services to biotechnology and pharmaceutical companies, for $45 mln and certain minority equity interests. The $45 mln purchase price includes a five-year, $25 mln note and $20 mln in cash that will be adjusted for working capital and other items; after currently projected adjustments, the $20 mln cash payment is estimated to result in net cash proceeds of ~$7 mln. Operating costs during the wind-down period are currently anticipated to be in the range of $7 mln to $12 mln. The cost of employee severance is estimated to be in the range of $18 mln to $21 mln, and MDS has retained pension obligations of approximately $3 mln.
07:02
RENT Rentrak signs agreement with NBC affiliate WCMH to provide StationView Essentials for local market measurement (17.28 )
Co announced an agreement with WCMH, a Media General NBC affiliate, to utilize Rentrak's StationView Essentials system for the station in Columbus, Ohio. Continuing the momentum Rentrak has established with local stations for its Station View Essentials service, WCMH joins Lin TV and Sinclair Broadcast Group for measurement and software services for the Columbus, Ohio, market from the largest commercially available database of digital set-top-devices. Rentrak will be providing WCMH with new metrics, including the company's unique "Stickiness Index," which measures viewer involvement, in order to illuminate the value proposition local broadcaster's have in terms of reach and hold with their television viewers.
07:02
CVG Convergys announced that Jeff Fox has been named President and Chief Executive Officer (10.88 )
Co announced that Jeff Fox has been named President and Chief Executive Officer. Fox has agreed to serve in this position for at least one year and will also remain on the Convergys Board. Fox, who has been a Convergys Board member since February 2009, and was previously Chief Operating Officer of Alltel Corporation, succeeds David F. Dougherty. Dougherty will serve as a consultant to help facilitate a smooth transition.
07:01
AXG Atlas Acquisition announces actions relating to securing stockholder approval of business combination with select staffing (9.55 )
The co announces it had been advised that its founding stockholders (including James Hauslein and Gaurav Burman) and the Sorensen Family Trust (the "Sorensen Trust"), the principal beneficial owner of Koosharem, a California limited liability company that does business as "Select Staffing," are negotiating arrangements with holders of shares of Atlas common stock and warrants as part of their efforts to secure stockholder approval of Atlas' proposed business combination with Select Staffing. In addition, Atlas announced that it has been advised that its founders and the Sorensen Trust are negotiating with potential buyers of shares of common stock of Atlas who will agree to vote in favor of the proposed business combination. The purpose of such arrangements would be to increase the likelihood that holders of a majority of the shares of Atlas common stock issued in its initial public offering (the "public shares") vote in favor of the Select Staffing business combination and that holders of less than 30% of the public shares demand conversion of their public shares into cash.
07:01
UNH UnitedHealth continues annual dividend, renews share repurchase program (33.00 )
Co authorized payment of an annual dividend to shareholders for 2010. The dividend, $0.03 per share, will be paid on April 20, 2010. The Board also renewed and increased the Company's Share Repurchase Program, under which up to 120 million shares of the Company's common shares may now be repurchased. This includes approximately 23 million shares remaining under the previous share repurchase program.
07:00
BVF Biovail enters into license and collaboration agreement with Alexza for AZ-004 (13.94 -0.04)
Co announced that its subsidiary, Biovail Laboratories International SRL, has entered into a collaboration and license agreement with Alexza Pharmaceuticals (ALXA) Biovail has acquired the U.S. and Canadian rights to commercialize AZ-004 - a formulation of loxapine administered via deep lung inhalation using Alexza's proprietary Staccato device. AZ-004 is initially targeted for the treatment of agitation in patients with schizophrenia or bipolar disorder. In December 2009, ALXA submitted a New Drug Application to the FDA for Staccato loxapine. A response from the FDA is anticipated in October 2010.
07:00
LB LaBarge awarded $1 million in contracts from BAE Systems for common missile warning system (10.66 )
07:00
DISCA Discovery reports EPS in-line, beats on revs; guides FY09 revs above consensus (29.27 )
Reports Q4 (Dec) earnings of $0.36 per share, in-line with the First Call consensus of $0.36; revenues rose 6.6% year/year to $964 mln vs the $942.5 mln consensus, as 22% growth at International Networks and 3% growth at U.S. Networks was partially offset by a $21 million or 30% decline at Commerce, Education and Other as a result of the transition to a new commerce licensing model. Co issues upside guidance for FY09, sees FY09 revs of $3.625-3.750 bln vs. $3.49 bln consensus; "Adjusted OIBDA between $1,560 million and $1,640 million, and net income available of $660 million to $725 million [vs the $689 mln consensus]. Our outlook incorporates current foreign exchange rates for revenues and expenses and current share price for mark-to-market share-based compensation calculations."
06:47
TRNO Terreno Realty prices 8.75 mln share IPO at $20.00 per share; co was orginally expected to price 15.0 mln, then 10.0 mln shares
Co intends to use the net proceeds from the initial public offering and the concurrent private placement to invest in industrial properties in accordance with the co's investment strategy and for general business purposes.
06:31
ATHX Athersys receives U.S. patent covering adult stem cell composition & production (2.88 )
Co announces it has been granted U.S. patent 7,659,118 that covers non-embryonic multipotent stem cells, their isolation and expansion, and related pharmaceutical compositions. Athersys also announced that it has been granted -- and the opposition period has cleared -- EP patent EP1218489B1 that covers non-embryonic pluripotent stem cells, their isolation, expansion, and usage.
06:29
S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +4.00.
06:29
Asian Markets
Nikkei...9963.99...+31.10...+0.30%. Hang Seng...19922.22...+131.90...+0.70%.
06:29
European Markets
FTSE...5171.88...+60.00...+1.20%. DAX...5575.10...+76.80...+1.40%.
06:09
CLRT Clarient launches new lung cancer test (2.16 )
Co announces the commercial launch of a new lung cancer test, Clarient Insight Dx Pulmotype Test, that helps physicians classify specific types of lung cancer to identify which therapies may be most effective. The new test has been clinically validated to use in the sub-classification of patients with non-small cell lung cancer, which accounts for approximately 85 percent of the more than 200,000 lung cancer cases diagnosed each year.
05:08
TLM Talisman Energy reports EPS in-line, revs in-line (16.89 )
Reports Q4 (Dec) earnings of CDN$0.07 per share, excluding non-recurring items, in-line with the First Call consensus of CDN$0.07; revenues rose 2.9% year/year to CDN$1.8 bln vs the CDN$1.78 bln consensus. Cash flow for 2009 was CDN$4 billion versus CDN$6.2 billion a year earlier. Relative to 2008, lower oil and gas prices contributed to most of the decrease, offset partially by lower cash taxes (CDN$655 million), royalties (CDN$846 million) and higher realized gains on held-for-trading financial instruments (CDN$547 million). Cash flow increased 10% to CDN$921 million compared to the third quarter, with higher production volumes and netbacks. Production from continuing operations increased 2% over 2008 to 413,000 boe/d. Total production averaged 425,000 boe/d, down 2% due to asset sales.
01:25
EOG EOG Resources misses by $0.06, misses on revs; increases annual dividend 7% to $0.62/share (94.54 )
Reports Q4 (Dec) earnings of $0.92 per share, excluding non-recurring items, $0.06 worse than the First Call consensus of $0.98; revenues, excluding gains on property dispositions, fell 25.0% year/year to $1.23 bln vs the $1.33 bln consensus. EOG delivered 6.5% total company production growth over 2008. Total liquids production in North America increased 30%, comprised of 23% growth in crude oil and condensate and 48% in natural gas liquids. In the U.S., the increase in total liquids production was primarily driven by ongoing exploration and development drilling in the North Dakota Bakken and Fort Worth Barnett Shale Combo Plays. Carrying the momentum of a strong operational year forward into 2010, EOG continues to target 13% total company full year organic production growth over 2009 with a 47% increase in total liquids production. The liquids growth will be driven by expanded operations in the North Dakota Bakken where EOG plans to execute an active drilling program in the Bakken Core and Lite, as well as the Three Forks Formation. Also fueling the liquids growth will be an increased level of drilling activity in the Fort Worth Barnett Combo and the Waskada Field in Manitoba. EOG's North American natural gas production is expected to increase 2% over 2009. Plans are to ramp up activity levels in the Haynesville, Bossier and Marcellus Shales during the second half of the year. In the Horn River Basin, EOG will operate an active drilling program in the first half of the year, with the goal of completing and turning wells to sales during the second half of 2010. At December 31, 2009, total co proved reserves were approx 10.8 trillion cubic feet equivalent, an increase of 2,087 billion cubic feet equivalent, or 24% higher than YE08. Co increases annual dividend 7% to $0.62/share.
01:13
On The Wires
Volt Information Sciences (VOL) announces that it has entered into agreements with its lenders that extends the time for delivery by the co of its audited financial statements for FY09 to May 10, 2010.
01:11
DEI Douglas Emmett reports in-line 4Q09 FFO (13.00 )
Reports Q4 (Dec) funds from operations of $0.30, in-line with First Call consensus of $0.30; revenues declined 10.4% year/year to $139.42 mln vs $139.61 mln consensus. Co issues in-line guidance for FY10; sees FFO of $1.19-1.25, excluding items, vs $1.22 consensus.
01:06
MU Micron announces agreement to acquire Numonyx in all-stock transaction (9.08 )
Co and Numonyx Holdings B.V. announce that the companies have signed a definitive agreement under which Micron has agreed to acquire privately held Numonyx in an all-stock transaction valuing Numonyx at approx $1.27 bln. Under the terms of the agreement, Micron will issue 140 mln Micron common shares to Numonyx shareholders, Intel (INTC), STMicroelectronics, N.V. (STM) and Francisco Partners. Up to 10 mln additional Micron common shares will be issued ratably to Numonyx shareholders to the extent the volume weighted average price of Micron shares for the 20 trading days, ending two days prior to the close of the transaction, ranges between $7.00 and $9.00 per share.
00:53
Piedmont Office Realty Trust prices 12.0 mln common shares at $14.50/share
Piedmont's Class A common stock is expected to begin trading on February 10, 2010 on the NYSE under the ticker symbol "PDM."
18:01
OMAB Grupo Aeroportuario reports that terminal passenger traffic at its 13 airports decreased 10.5% in January 2010, as compared to January 2009 (12.40 +0.14)
Domestic traffic decreased 12.1%, and international traffic decreased 4.2%. Of total traffic, 97.1% was commercial aviation, and 2.9% was general aviation.
18:00
HNI HNI beats by $0.02, misses on revs (25.53 +0.35)
Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.24; revenues fell 35.1% year/year to $413.7 mln vs the $418.5 mln consensus. Co provides outlook: "Our markets continue to be dynamic and volatile and are not yet showing signs of near-term improvement. Our office furniture businesses remain uncertain and difficult with competitive pricing pressure and weakness in day-to-day activity. Hearth demand remains at historically low levels but we are seeing indications of improving market trends. We will continue to reset our cost structure to market conditions while investing for the future. The co remains focused on creating long-term shareholder value by growing its business through investment in building brands, product solutions and selling models, enhancing its strong member-owner culture, and remaining focused on its long-standing rapid continuous improvement programs to build best total cost and a lean enterprise."
17:58
IPCC Infinity Prpty & Casualty increases dividend 16.7% to $0.14 per quarter (39.16 +0.42)
17:52
ORA Ormat Nevada signs purchase agreement for an advanced stage development property (34.23 +0.33)
Co announce that its wholly owned subsidiary, Ormat Nevada Inc. has signed an agreement to acquire 100% of the membership interests in HSS II, LLC, which includes the Hot Sulphur Springs Geothermal Project in the northern Independence Valley of northeast Nevada. The Project is in an advanced stage of development and has one successful well. The Company plans to construct and operate a geothermal plant on the site which is expected to become operational in 2012.
17:46
INDXCH Standard & Poorâ??s Announces Change to U.S. Index
Tessera Technologies (TSRA) will replace Financial Federal (FIF) in the S&P SmallCap 600 index after the close of trading on Thursday, February 18. Financial Federal is being acquired by S&P 500 constituent People's United Financial (PBCT) in a deal expected to close on or about that date, pending final approvals.
17:42
VNO Fitch affirms Vornado Realty Trust's IDR at 'BBB'; outlook stable (63.01 +0.14)
Fitch Ratings has affirmed the Issuer Default Ratings (IDRs) and security level ratings of Vornado Realty Trust (VNO) and its subsidiary Vornado Realty, L.P. (together, Vornado) as follows: Vornado Realty Trust --IDR at 'BBB'; Perpetual preferred stock at 'BB+'. Vornado Realty, L.P. IDR at 'BBB'; Unsecured revolving credit facilities at 'BBB'; --Senior unsecured notes at 'BBB'; Convertible senior unsecured notes at 'BBB'; Exchangeable senior unsecured notes at 'BBB'. The Rating Outlook is Stable. The rating affirmations are supported by a strong management track record, diverse portfolio of high quality assets, large unencumbered asset pool with strong coverage of unsecured debt, strong leasing profile, solid debt service coverage ratios, and manageable leverage.
17:29
PHH PHH Corp Reschedules Investor Call Due to Winter Storm Warning to Feb 16 at 10am EST, from Feb 10 2:00pm EST (17.96 +0.30)
17:28
PAC Grupo Aeroportuario del Pacifico reports passenger traffic decrease of 1.7% for January 2010 (32.39 +0.87)
Co announced preliminary terminal passenger traffic figures for the month of January 2010 compared to traffic figures for January 2009. During January 2010, total terminal passengers decreased 1.7% compared to the previous year; domestic passenger traffic decreased 2.6%, while international passenger traffic decreased 0.3% compared to January 2009.
17:26
ARG Airgas Board of Directors rejects unsolicited proposal from Air Products (61.35 +0.80)
Co announced that its Board of Directors has unanimously determined that the unsolicited proposal from Air Products & Chemicals (APD) ("Air Products") announced on February 5, 2010, very significantly undervalues Airgas and its future prospects and is not in the best interests of Airgas stockholders. The Board rejected the Air Products' proposal after a thorough review and reached its decision after careful consideration with the assistance of its independent financial and legal advisors.
17:26
MMM 3M raises Q1 dividend 3% YoY to 52.5 cents (78.72 +1.19)
17:24
Terreno Realty Corporation (TRNO) Announces Pricing of Initial Public Offering at $20/share
Co which intends to acquire, own and operate industrial real estate located in six major coastal U.S. markets, today announced it has priced its initial public offering of 8,750,000 shares of common stock, $0.01 par value per share, at $20 per share. The shares of common stock of the Company are scheduled to begin trading on February 10, 2010 on the New York Stock Exchange under the symbol "TRNO."
17:23
RNR RenaissanceRe beats by $0.32, beats on revs (52.26 +0.83)
Reports Q4 (Dec) earnings of $2.82 per share, $0.32 better than the First Call consensus of $2.50; revenues rose 164.5% year/year to $396.7 mln vs the $347.9 mln consensus.
17:19
AHL Aspen Insurance beats by $0.32, reports revs in-line; guides 2010 gross premiums; announces $400 mln shares repurchase program (26.73 +0.09)
Reports Q4 (Dec) earnings of $1.44 per share, $0.32 better than the First Call consensus of $1.12; revenues fell 0.5% year/year to $476.2 mln vs the $472.7 mln consensus. At this early stage in the year and given the state of the market, the co anticipates gross written premium for the full year to be $2.2 bln +/- 5%, premium ceded to be between 8% and 12% of gross earned premium and the combined ratio to be in the range of 88%-94% including a cat load of $170 mln assuming normal loss experience in the year. Separately, the Board authorized a new share repurchase program for up to $400 mln over two years.
17:15
TCO Taubman Centers beats by $0.15, beats on revs; guides FY10 FFO in-line (32.05 +0.22)
Reports Q4 (Dec) funds from operations of $0.93 per share, excluding non-recurring items, $0.15 better than the First Call consensus of $0.78; revenues fell 1.9% year/year to $186.3 mln vs the $165.4 mln consensus. Co issues in-line guidance for FY10, sees FFO of $2.55-2.75, excluding non-recurring items, vs. $2.63 consensus.
17:13
GBL GAMCO Investors beays by $0.13 (40.64 +0.91)
Reports Q4 (Dec) earnings of $0.70 per share, $0.13 better than the First Call consensus of $0.57; revenues rose 55.8% year/year to $78.0 mln vs the $66.7 mln dual-analyst est. Assets Under Management (AUM) were $26.3 billion as of December 31, 2009, 30.4% greater than December 31, 2008 AUM of $20.2 billion and 7.6% higher than September 30, 2009 AUM of $24.5 billion.
17:09
Derma Sciences (OTC: DSCID) will list its common stock on NASDAQ Capital Market effective February 10 under the ticker symbol "DSCI" (6.10 0.00)
17:05
SNE Sony acquired iCyt Mission Technology (33.77 +0.76)
Co announced that it has acquired iCyt Mission Technology, a producer of high-performance cell sorters used for stem cell and disease research, through its U.S. subsidiary, Sony Corporation of America (SCA). Through this acquisition, Sony expects to accelerate its development of next-generation cell analysis systems and deliver innovative products to research and clinical laboratories around the world.
17:03
SU Suncor Energy agrees to sell non-core assets in Northeast B.C. to Progress Energy Resources Corp. (29.85 +0.73) -Update-
Co has reached an agreement with Progress Energy Resources Corp. to sell certain natural gas properties for approximately $390 million. Current production on these lands is ~43.8 million cubic feet equivalent per day (mmcfe/d). The sale includes properties known as Jedney, Beg and Blueberry, which are located in British Columbia about 125 kilometres northwest of Fort St. John. The sale is expected to close at the end of the first quarter and is subject to closing conditions and regulatory approvals typical of transactions of this nature.
17:00
SLTC Selectica announces a 1-for-20 reverse stock split (0.25 +0.0)
16:49
KNSY Kensey Nash announces $30 mln share buyback (20.44 +0.56)
KNSY said the new program allows the co to repurchase an additional $30 mln of its issued and outstanding shares of Common Stock, in addition to approximately $3 million currently remaining under the previously announced repurchase program, and has no scheduled expiration. The Company intends to finance the repurchases using its available cash and liquid investments.
16:47
EXBD Corp Exec Bd beats by $0.16, beats on revs; guides FY10 EPS below consensus, revs below consensus (22.93 +0.02)
Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.16 better than the First Call consensus of $0.24; revenues fell 21.0% year/year to $108 mln vs the $101.3 mln consensus. Co issues downside guidance for FY10, sees EPS of $0.85-1.10, excluding non-recurring items, vs. $1.29 consensus; sees FY10 revs of $385-405 mln vs. $418.21 mln consensus.
16:40
GRA W.R. Grace announces Paul J. Norris resigns from Board of Directors (26.36 +0.45)
16:39
PSEC Prospect Energy beats by $0.02; guides Q3 EPS below consensus (10.92 +0.08)
Reports Q2 (Dec) net investment income of $0.29 per share, $0.02 better than the First Call consensus of $0.27. Co issues downside guidance for Q3, sees net investment income of $0.24-0.32 vs. $0.34 consensus.
16:36
NFP National Financial Partners reports Q4 earnings of $0.61 vs $0.52 First Call consensus; revs declined 7% year/year to $277.2 mln vs $265.25 mln First Call consensus
16:35
TSPT Transcept Pharma granted first U.S. patent covering Intermezzo formulation (7.74 -0.03)
The co announces that the first patent covering the composition and method of use of Intermezzo (zolpidem tartrate sublingual tablet), the lead Transcept product candidate, has been issued by the United States Patent and Trademark Office. Transcept announced the issuance of a Notice of Allowance for claims under the application for this patent, U.S. Patent Application Serial No. 11/060,641, on December 14, 2009. The newly issued patent, U.S. Patent No. 7,658,945, titled "Compositions for Delivering Hypnotic Agents Across the Oral Mucosa and Methods of Use Thereof," will expire no earlier than February 2025.
16:35
BIDU Baidu.com beats by $0.12, beats on revs; guides Q1 revs above consensus (435.01 -8.22)
Reports Q4 (Dec) earnings of $1.80 per share, $0.12 better than the First Call consensus of $1.68; revenues rose 39.8% year/year to $184.7 mln vs the $180 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $176-181 mln vs. $170.23 mln consensus. "The year ended on a positive note as Phoenix Nest's better than anticipated performance helped us to exceed expectations for the fourth quarter..." Online marketing revenues for the fourth quarter of 2009 were RMB1.260 bln ($184.6 mln), representing a 39.8% increase from the corresponding period in 2008. Baidu had about 223,000 active online marketing customers in the fourth quarter of 2009, representing a 13.2% increase from the corresponding period in 2008 and a 3.2% increase from the previous quarter. Revenue per online marketing customer for the fourth quarter was approximately RMB5,700 ($828), a 23.9% increase from the corresponding period in 2008 and a 3.4% decrease from the previous quarter, primarily due to the effects of the transition from Baidu Online Marketing Classic Edition to Phoenix Nest. Traffic acquisition cost (TAC) as a component of cost of revenues was RMB201.9 mln ($29.6 mln), representing 16.0% of total revenues, as compared to 14.6% in the corresponding period in 2008 and 15.3% in the third quarter of 2009.
16:35
OPEN OpenTable beats by $0.07, beats on revs (24.99 -0.21)
Reports Q4 (Dec) earnings of $0.14 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.07; revenues rose 32.4% year/year to $19.2 mln vs the $17.7 mln consensus. Subscription revenues were $9.6 mln in Q4 2009, up 18% over Q4 2008 revenues of $8.1 mln. Subscription revenues increased as a result of the increase in installed restaurants. Reservation revenues were $8.5 mln in Q4 2009, up 47% over Q4 2008 revenues of $5.8 mln. Reservation revenues primarily increased as a result of the increase in seated diners. Installation and other revenues were $1.0 mln in Q4 2009, up 67% over Q4 2008 revenues of $0.6 mln.
16:35
RNWK RealNetworks and Viacom to separate Rhapsody into independent company (4.16 +002)
RealNetworks (RNWK) and MTV Networks, a division of Viacom International (VIA.A and VIA.B) announced plans to restructure their digital music service joint venture, Rhapsody America, into a newly formed corporation that will operate independently from its parent companies. RealNetworks, currently the majority owner and operator of Rhapsody, and Viacom will restructure their ownership and rights in the joint venture to provide the necessary intellectual property rights to launch the new company as an independent entity. RealNetworks will also contribute operating capital as part of the transaction. Under the terms of the restructuring, which is expected to close at the end of the first quarter, RealNetworks will no longer have operating control over the venture, and Rhapsody will have no single majority owner.
16:34
ARW Arrow Elec unit and Riverbed Technology signed a North American distribution agreement (26.99 +0.22)
Arrow Enterprise Computing Solutions, a business segment of Arrow Electronics (ARW) and Riverbed Technology (RVBD) have signed a North American distribution agreement. Riverbed wide-area network optimization solutions help to improve remote and mobile employee productivity, enable private clouds, and provide enterprise-wide network and application visibility, while eliminating the need to increase bandwidth, storage or servers.
16:32
MXGL Max Capital Group increases share repurchase plan by $29 mln (22.41 +0.39)
Co announces that 2010, Max Capital's Board of Directors authorized an increase in the share repurchase plan of $100 million, and, following this authorization, the amount currently available is $129 million.
16:32
CXW Corrections Corp beats by $0.02, reports revs in-line; guides Q1 EPS below consensus; guides FY10 EPS below consensus (17.83 -0.03)
Reports Q4 (Dec) earnings of $0.36 per share, $0.02 better than the First Call consensus of $0.34; revenues rose 4.0% year/year to $427.1 mln vs the $430.7 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.28-0.30 vs. $0.33 consensus. Co issues downside guidance for FY10, sees EPS of $1.16-1.26 vs. $1.33 consensus. The Board of Directors has approved a stock repurchase program of up to $250.0 million of CCA's common stock effective through June 30, 2011.
16:31
RUSHA Rush Enterprises beats by $0.01, misses on revs; sees 1Q10 sales up QoQ, with a sliggish Q2 and Q3 (11.15 +0.02)
Reports Q4 (Dec) earnings of $0.04 per share, $0.01 better than the First Call consensus of $0.03; revenues fell 22.8% year/year to $295.6 mln vs the $304.5 mln consensus. "We believe 2010 will be a difficult year. Industry experts currently estimate U.S. Class 8 retail sales for 2010 to be 114,000 units, up from 97,000 units in 2009. However, we believe U.S. Class 8 retail sales will only increase slightly over 2009 to about 105,000 units. Current industry projections are for U.S. Class 4-7 retail sales in 2010 to be 123,500 units, up from 111,415 units in 2009. We expect to see a slight increase in sales during 1Q10, as compared to 4Q09 (consensus calls for a 9.1% QoQ icrease in sales), as trucks with engines manufactured before new emissions regulations took effect on January 1, 2010 are delivered from our inventory. However, continued uncertainty about the economy caused us to be more conservative with inventory purchases than we were in the previous emissions-driven cycle in early 2007. We expect truck sales to be extremely sluggish in the second and third quarters as new technology begins to gradually gain acceptance in the marketplace. We do not believe any sustainable increase in retail sales will occur until late in 2010. However, fleet age is the oldest on record and I believe excess freight capacity will continue to dissipate throughout 2010. As a result, I expect a strong recovery in retail sales in 2011 and 2012."
16:31
XIDE Exide Tech and Truck Pride Partners announce new supply agreement (5.17 -0.04)
Co announces a new supply agreement with Truck Pride Partners. Under the new agreement, Exide has been designated as the preferred vendor for the Truck Pride Partners battery line. Exide will supply a full aftermarket line, including automotive, heavy duty, marine, golf cart, electric vehicle, lawn and garden and power sport products. The two-year agreement includes Exide branded and Truck Pride private label batteries sold in the U.S. and Canada.
16:31
BRNC Bronco Drilling announces monthly operating results (4.95 +0.09)
Co announces operational results for the month ended January 31, 2010. Utilization for the Company's drilling fleet was 33% for the month of January compared to 32% for the previous month and 31% for the fourth quarter of 2009. The Company had an average of 37 marketed drilling rigs in January compared to 37 in the previous month and 37 for the fourth quarter of 2009. The average dayrate on operating drilling rigs as of January 31, 2010, was $15,442 compared to $15,079 as of December 31, 2009, and $15,354 for the fourth quarter of 2009. The Company cautions that several factors other than those discussed above may impact the Company's operating results and that a particular trend regarding the factors above may or may not be indicative of the Company's current or future financial performance.
16:27
GIL Gildan Activewear beats by $0.02, beats on revs; reaffirms FY10 rev and gross margin guidance (22.47 +0.41)
Reports Q1 (Dec) earnings of $0.24 per share, ex-items, $0.02 better than the First Call consensus of $0.22; revenues rose 19.8% year/year to $220.4 mln vs the $206.7 mln consensus. Co reaffirms guidance for FY10, sees FY10 revs of in excess of $1.2 bln vs. $1.23 bln consensus, with gross margins of ~26% vs the 25.6% consensus. The strong recovery in sales of activewear and underwear compared to fiscal 2009 primarily reflected a 31.5% increase in activewear unit sales volumes, due to higher market share in the U.S. wholesale distributor channel, lower seasonal inventory destocking by distributors than in the first quarter of fiscal 2009, and increased penetration of international and other screenprint markets. These positive factors, together with more favourable activewear product-mix, were partially offset by an 8.9% decline in overall industry unit shipments from U.S. distributors to U.S. screenprinters, and an approximate 3.5% reduction in net selling prices for activewear, compared to the first quarter of fiscal 2009. Consolidated gross margins in the first quarter were 29.8%, compared to 21.1% in the first quarter of fiscal 2009. The increase in gross margins compared to last year was due to significant gains in manufacturing efficiencies, lower cotton and energy costs and more favourable activewear product-mix, partially offset by lower net selling prices for activewear, as well as the impact of additional inventory provisions. The co has increased its capital expenditure forecast for fiscal 2010 to approximately U.S. $145 million, compared to $130 million projected in Dec. The increase in projected capital expenditures is due to the acceleration of planned sewing capacity expansion projects required to support the Company's projected sales growth, further capacity expansion and additional knitting machines at the new Rio Nance IV sock facility, and additional investment in the biomass project in Honduras, which is expected to result in further incremental cost savings.
16:20
CRY CryoLife sends letter to Medafor shareholders (6.28 +0.12)
Co announces it has sent the following letter to Medafor shareholders. "As you have read in our press release dated February 2, 2010, CryoLife now owns approximately 11 percent of Medafor ("the Company"). As a result, CryoLife has acquired additional shareholder rights, including the right to call a special meeting of Medafor shareholders. We did receive a letter from Medafor's board on January 22, 2010 indicating that Medafor's board is giving serious consideration to our proposal to acquire the outstanding shares of Medafor for $2.00 per share in cash and stock. We at CryoLife remain committed to engaging with Medafor in good faith negotiations about this proposal in order to help maximize value for all shareholders. However, it has been over two weeks since Medafor's board last communicated with us and almost four weeks since we sent our first letter to the Company.... We believe our initial proposal to Medafor is compelling. We look forward to engaging Medafor's board to fully discuss the complete set of opportunities that exist for both companies as a combined entity..."
16:20
NU Northeast Utilities will pay a quarterly dividend of $0.25625 per share, up from $0.2375 per share (25.04 +0.26)
16:19
WWWW Web.com beats by $0.01, reports revs in-line (5.48 +0.23)
Reports Q4 (Dec) earnings of $0.16 per share, $0.01 better than the First Call consensus of $0.15; revenues fell 8.4% year/year to $26.3 mln vs the $26.3 mln consensus. Co's total net subscribers were approximately 275,000 at the end of the fourth quarter of 2009, up approximately 2,000 compared to the end of the prior quarter. Customer churn was 3.3% for the fourth quarter of 2009, representing an all-time low and down from 3.4% for the third quarter of 2009.
16:18
UDR UDR beats by $0.01, beats on revs; guides FY10 FFO below consensus (15.09 -0.43)
Reports Q4 (Dec) funds from operations of $0.29 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.28; revenues rose 0.4% year/year to $150.1 mln vs the $148.5 mln consensus. Co issues downside guidance for FY10, sees FFO of $1.00-1.07 vs. $1.08 consensus.
16:17
RX IMS Health beats by $0.13, beats on revs (21.87 +0.07)
Reports Q4 (Dec) earnings of $0.52 per share, excluding non-recurring items, $0.13 better than the First Call consensus of $0.39; revenues rose 3.2% year/year to $599.2 mln vs the $565.6 mln consensus.
16:17
ATAC Aftermarket Tech reports EPS in-line, misses on revs; guides FY10 EPS in-line, revs in-line (21.04 +0.05)
Reports Q4 (Dec) earnings of $0.50 per share, in-line with the First Call consensus of $0.50; revenues fell 0.9% year/year to $125.3 mln vs the $127.9 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.13-$2.45 vs. $2.30 consensus; sees FY10 revs of $510-$550 mln vs. $507.51 mln consensus. Logistics revs are expected to be $400-$430 mln, with segment profit of $67-$74 mln. In Drivetrain, they expect revs of $115-$120 mln and segment profit of $2-$5 mln.
16:17
HCSG Healthcare Services Group misses by $0.05, reports revs in-line (21.29 +0.27)
Reports Q4 (Dec) earnings of $0.15 per share, $0.05 worse than the First Call consensus of $0.20; revenues rose 18.1% year/year to $182.6 mln vs the $181 mln consensus.
16:16
AIR AAR Corp estimates impact of Mesa's bankruptcy on Q3 results (22.39 +0.33)
Co commented that results for the third quarter ending February 28, 2010, will be unfavorably impacted by approx $0.10 diluted earnings per share as a result of Mesa Air Group, Inc.'s January 5, 2010 Chapter 11 filing under the United States Bankruptcy Code. The impact mostly reflects the Company's estimated loss on pre-petition trade accounts receivables and the reduction in the carrying value of other contract related assets. Sales to Mesa prior to the reorganization filing approx $70 mln per year. Based upon the Company's current understanding of Mesa's requirements, the Company expects annual sales to Mesa to now approx $45 mln. "We have not yet seen the uptick in sales to commercial customers in January that we had expected. However, our defense business remains strong and after excluding the unfavorable impact of Mesa, we expect to achieve modest sequential earnings per share improvement in our Fiscal 2010 third quarter results. We also expect continued strong cash flow from operations in our third quarter."
16:16
VRUS Pharmasset reports 1Q10 results (22.68 +0.40)
Pharmasset reports 1Q10 earnings of ($0.49) vs ($0.43) First Call consensus; revs $0.3 mln vs $1.77 mln First Call consensus. "Pharmasset continues to make solid progress across all of its clinical programs." stated Schaefer Price, President and Chief Executive Officer. "2010 is shaping up to be an important year for the company with phase 2a data from our proprietary PSI-7977 program and phase 1 data with our first purine analog, PSI-938, coming in the third quarter. We believe nucleoside/tide analogs have the potential to become the backbone of treatment regimens, not only for genotype 1, but also across a broad range of HCV genotypes. We look forward to reporting data from all our programs throughout 2010."
16:15
APPY AspenBio Pharma reports on AppyScore supplemental clinical trial interim analysis and provides guidance on FDA 510(k) Filing (2.31 +0.10)
The co reports conclusions from its pre-planned, independent, interim analysis of the Company's ongoing supplemental clinical trial of AppyScore , the first blood-based test designed to aid in the evaluation of patients suspected of having acute appendicitis, and outlined next steps for its AppyScore 510(k) filing with the FDA. Based on the interim analysis, the trial, currently with over 600 patients enrolled, will continue enrollment to approximately 800 patients with completion anticipated in March of 2010. Given the time estimate to complete the current trial and related data analysis, the Company has withdrawn its 510(k) on file with the FDA and will submit a new 510(k) with full results from the ongoing clinical trial. This clinical trial is statistically sized to stand alone and thereby becomes the pivotal trial to support the new 510(k) submission... "We believe AppyScore has the potential to help improve physicians' evaluation of appendicitis, eliminating unnecessary CT scans and reducing radiation exposure risk for patients -- while also reducing health care costs," said Daryl J. Faulkner, Chief Executive Officer of AspenBio Pharma. "We continue to actively enroll patients in the ongoing clinical trial and believe that submitting a new 510(k) based on a full analysis of the data from this study will provide the most effective path to 510(k) clearance. Our new timeline includes finalizing the trial results and submitting the new 510(k) in the second quarter of 2010.
16:14
NTGR NETGEAR beats by $0.12, beats on revs; guides Q1 revs above consensus (21.76 +0.62)
Reports Q4 (Dec) earnings of $0.34 per share, $0.12 better than the First Call consensus of $0.22; revenues rose 35.6% year/year to $218.8 mln vs the $178.4 mln consensus. Gross margin on a non-GAAP basis in Q4 were 31.1%, as compared to 31.2% in the year ago comparable qtr. Co issues upside guidance for Q1, sees Q1 revs of $195-$205 mln vs. $175.76 mln consensus. Sees Q1 non-GAAP operating margins in the range of 10%-11%.
16:13
XNPT XenoPort announces extension of the Horizant PDUFA date to February 11, 2010 (19.92 -0.20)
Co announces the FDA will not be taking an action today on the Horizant (gabapentin enacarbil) new drug application for moderate-to-severe primary Restless Legs Syndrome, due to the fact that the federal government has been closed for the past two days. The FDA has indicated that the new Prescription Drug User Fee Act goal date is Thursday, February 11, 2010, assuming that there are no further federal government closings this week. The FDA indicated that if there are additional federal government closings this week, the goal date for this NDA will likely be extended further. This NDA was filed by GlaxoSmithKline (GSK), XenoPort's partner in the United States and several other countries outside of Asia. Horizant is also known as XP13512.
16:12
XL XL Capital misses by $0.01 (17.02 +0.51)
Reports Q4 (Dec) earnings of $0.69 per share, $0.01 worse than the First Call consensus of $0.70. Book value per ordinary share of $24.60 at December 31, 2009, an increase of 3% in the quarter and 59% for the full year. P&C operations combined ratio of 96.4% for the quarter and 93.6% for the year. The loss ratio for the quarter was 62.2% compared to 58.0% for the fourth quarter of 2008, with full year loss ratios of 61.5% and 66.2%, respectively. Net unrealized losses on investments, net of tax, were $1.2 billion at December 31, 2009 compared with net unrealized losses, net of tax, of $1.5 billion at September 30, 2009. The decrease in net unrealized losses for the quarter in the Company's P&C operations was substantially due to realized losses during the quarter, combined with favorable mark-to-market movements arising from tightening spreads, offset by rising interest rates. The decrease in net unrealized losses in the Company's Life operations was a result of realized losses during the quarter, offset by negative mark-to-market as a result of rising U.K. interest rates partially offset by tightening spreads.
16:11
USNA USANA beats by $0.07, reports revs in-line; guides FY10 EPS above consensus, revs in-line (25.94 -0.13)
Reports Q4 (Dec) earnings of $0.66 per share, $0.07 better than the First Call consensus of $0.59; revenues rose 5.1% year/year to $116.8 mln vs the $115.7 mln consensus. Co issues mixed guidance for FY10, sees EPS of $2.45-2.55 vs. $2.40 consensus; sees FY10 revs of $465-475 mln vs. $470.35 mln consensus.
16:11
DIOD Diodes reports Q4 (Dec) results, revs in-line; guides Q1 revs above consensus (17.89 +0.63)
Reports Q4 (Dec) earnings of $0.36 per share, which included $2.2 mln or $0.05 per share, net of tax, non-cash compensation expense and may not be comparable to the First Call consensus of $0.29. Excluding the expense EPS would have increased by an additional $0.05 per share; revenues rose 49.6% year/year to $130.3 mln vs the $129 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $131 mln - $137 mln vs. $125.48 mln consensus.Commenting on the results, Dr. Keh-Shew Lu, President and Chief Executive Officer of Diodes Incorporated, stated, "We expect continued growth momentum in the first half of 2010 and remain positive on our outlook due to design win traction and new product introductions. Despite the first quarter being a typically seasonally slower period for our markets, we are seeing strong customer demand in the consumer and communications markets, in particular for our products utilized in panels for LCD and LED televisions as well as smartphones and set-top boxes. Further, we are also beginning to see market stabilization in North America and Europe.
16:09
KFRC kforce.com beats by $0.01, beats on revs; guides Q1 EPS in-line, revs above consensus (13.92 -0.45)
Reports Q4 (Dec) earnings of $0.09 per share, $0.01 better than the First Call consensus of $0.08; revenues fell 6.8% year/year to $224.6 mln vs the $219.6 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.04-0.07, which includes an impact of ~$0.05 per share of payroll taxes. vs. $0.07 consensus; sees Q1 revs of $224-232 mln vs. $222.21 mln consensus.
16:09
PODD Insulet beats by $0.05, reports revs in-line; guides Q1 revs in-line; guides FY10 revs in-line (13.48 +0.31)
Reports Q4 (Dec) loss of $0.42 per share, $0.05 better than the First Call consensus of ($0.47); revenues rose 69.7% year/year to $20.2 mln vs the $20.1 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $20-21 mln vs. $20.72 mln consensus. Co issues in-line guidance for FY10, sees FY10 revs of $90-100 mln vs. $95.74 mln consensus, with an operating loss of $30-40 mln, may not compare to the consensus for operating profit of -$38.65 mln. Gross profit for the fourth quarter of 2009 was $7.3 million, representing a 36% gross margin, compared to a gross profit of $1.2 million, or a 10% gross margin, for the fourth quarter of 2008.
16:08
LTRE Learning Tree beats by $0.05, reports revs in-line (11.42 )
Reports Q1 (Dec) earnings of $0.18 per share, $0.05 better than the First Call consensus of $0.13; revenues fell 99.9% year/year to $32.5 mln vs the $32.5 mln consensus. "Our performance in our first quarter reflects significant benefits from profitability improvements and cost savings we have made during these challenging economic times... We are pleased that these changes have resulted in increased profitability compared to a year earlier, and we look forward to being able to build on our strong financial base and market position to capitalize on opportunities as they arise."
16:08
DNEX Dionex beats by $0.04, reports revs in-line; guides Q3 EPS above consensus, revs above consensus; guides FY10 EPS in-line, revs in-line (66.04 +0.03)
Reports Q2 (Dec) earnings of $0.92 per share, $0.04 better than the First Call consensus of $0.88; revenues rose 6.0% year/year to $109.2 mln vs the $108.9 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.90-$0.93 vs. $0.86 consensus; sees Q3 revs of $109-$113 mln vs. $105.98 mln consensus. Co issues in-line guidance for FY10, sees EPS of $3.15-$3.25 vs. $3.20 consensus; sees FY10 revs of $413-$420 mln vs. $413.43 mln consensus. Co states, "In the first six months of this fiscal year, we experienced the impact of the global economic weakness on our business. We believe that we will see some improvement as we enter the second half of fiscal 2010 and we anticipate that our organic sales growth rates will increase to the mid-single digits..."
16:08
GCOM Globecomm Systems reports EPS in-line, beats on revs; guides FY10 EPS in-line, revs in-line (6.69 )
Reports Q2 (Dec) earnings of $0.07 per share, in-line with the First Call consensus of $0.07; revenues rose 42.8% year/year to $57.1 mln vs the $51.6 mln consensus. Co issues in-line guidance for FY10, sees EPS of $0.30-$0.35 vs. $0.33 consensus; sees FY10 revs of $215-$225 mln vs. $215.49 mln consensus.
16:07
BOBE Bob Evans misses by $0.02, misses on revs; guides FY10 revs in-line (27.78 +0.51)
Reports Q3 (Jan) earnings of $0.58 per share, $0.02 worse than the First Call consensus of $0.60; revenues fell 3.1% year/year to $429.8 mln vs the $438.1 mln consensus. Same-store sales at Bob Evans Restaurants were down 4.2 percent in the third quarter of fiscal 2010, with average menu prices up 0.9 percent. At Mimi's Cafe, same-store sales decreased 8.3 percent for the third quarter of fiscal 2010, with average menu prices up 2.2 Co expects sales for Fy10 to be down 0.5-1.0% from FY09 (~$1.74-1.75 bln) vs. $1.74 bln consensus. Company reaffirmed its estimate for reported fiscal 2010 operating income of approximately $110 million to $115 million. The Company continues to expect substantively lower future capital expenditures for restaurant development in fiscal 2010 at both Bob Evans Restaurants and Mimi's Cafe. Specifically, the Company will not build any new Bob Evans Restaurants, but has built two Mimi's Cafes during fiscal 2010.
16:07
CERN Cerner beats by $0.03, beats on revs; guides Q1 and FY10 in-line (78.96 +1.61)
Reports Q4 (Dec) earnings of $0.75 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.72; revenues rose 0.1% year/year to $466.3 mln vs the $451.2 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.57-0.62, excluding non-recurring items, vs. $0.62 consensus; sees Q1 revs of $420-435 mln vs. $431.8 mln consensus. Co issues in-line guidance for FY10, sees EPS of $2.80-2.90, excluding non-recurring items, vs. $2.84 consensus; sees FY10 revs of $1.80-1.875 bln vs. $1.85 bln consensus.
16:06
DIS Walt Disney beats by $0.09, reports revs in-line (29.84 +0.36)
Reports Q1 (Dec) earnings of $0.47 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.38; revenues rose 1.5% year/year to $9.74 bln vs the $9.66 bln consensus. Media Networks revenues for the quarter increased 7% to $4.2 bln and segment operating income increased 11% to $724 mln. Parks and Resorts revenues for the quarter were essentially flat at $2.7 bln and segment operating income decreased 2% to $375 mln. Results for the quarter reflected a decrease at Disneyland Paris, partially offset by an increase at our domestic operations.
16:06
MRCY Mercury Computer announced the correction that was discovered in finalizing Quarterly Report on Form 10-Q (11.31 +0.70)
Co announced the correction of an error that was discovered in the process of finalizing the Company's Quarterly Report on Form 10-Q for the second quarter of fiscal 2010. The correction related to the cost of revenues and inventory balances reported in the press release issued on January 26, 2010, announcing the Company's results for the quarter ended December 31, 2009. Cost of revenues for the three and six months ended December 31, 2009 was $19.3 million and $39.4 million, respectively, rather than $18.8 million and $38.9 million as previously announced. This correction resulted from the incomplete release of inventory into costs of revenue. While it had no impact on revenue, the correction had the net effect of reducing the previously announced gross profit, income from operations, income tax expense, income from continuing operations, net income, basic and diluted earnings per share and adjusted EBITDA for the three and six months ended December 31, 2009.
16:05
DIS Walt Disney shares move higher in extended hours with the current Feb. high point in play @ 30.87 & the Feb. closing high @ 30.75 (29.84 ) -Update- -Technical-
Underside of the 50-day SMA is in play @ 31~31.05.
DIS now @ 30.55
16:05
FNSR Finisar sees Q3 revs of $166-167 mln vs $155.59 mln First Call consensus (10.18 +0.14)
The co announces that, on the basis of preliminary financial results, it expects to report revenues of $166 to $167 million ($155.59 mln First Call consensus) for its fiscal third quarter ended January 31, 2010, compared to revenue guidance of $148 to $158 million provided by the Company early in the quarter. The announced results are preliminary and subject to adjustment; however, in the absence of a material adjustment, third quarter revenues will set a new record for the Company surpassing the previous record of approximately $163 million for Finisar and Optium Corporation on a combined basis for the fiscal quarter ended July 31, 2008, just prior to the merger of the two companies. Based on these higher preliminary revenues, the Company expects to be at the upper end of its original guidance for the quarter on a non-GAAP basis of 30%-32% for gross margin and 6%-8% for operating margin. While a complete assessment of cost of revenues and operating expenses is not yet available, based on past experience, results under GAAP are expected to include approximately $8 to $10 million in additional non-cash and infrequently occurring charges.
16:04
ULTI Ultimate Software reports EPS in-line, revs in-line; guides Q1 revs in-line; guides FY10 revs in-line (28.84 +0.30)
Reports Q4 (Dec) earnings of $0.10 per share, excluding non-recurring items, in-line with the First Call consensus of $0.10; revenues rose 5.2% year/year to $52.3 mln vs the $52.1 mln consensus, with recurring revs of $35.7 mln. Co issues in-line guidance for Q1, sees Q1 revs of ~$55 mln vs. $54.35 mln consensus, with recurring revs of ~$39 mln and non-GAAP op. margins of ~6%. Co issues in-line guidance for FY10, sees FY10 revs up ~18% YoY which we calculate to be revs of ~$232 mln vs. the $231.91 mln consensus, with recurring revs up 27% YoY and non-GAAP op. margin of ~10%..
16:03
ASEI American Science & Engineering misses by $0.34, misses on revs (76.70 +1.25)
Reports Q3 (Dec) earnings of $0.64 per share, $0.34 worse than the First Call consensus of $0.98; revenues fell 15.9% year/year to $54.9 mln vs the $60.1 mln consensus. Bookings in the quarter were $91,332,000 resulting in a backlog of $223,870,000 as of December 31, 2009. Co says "... although revenue in the quarter was impacted by contractual delivery requirements we are well positioned to deliver our historically high backlog on schedule to meet or exceed customer expectations."
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