Briefing.com: Hourly In Play (R) – 21:00 ET

Mar 12, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)

Updated: 12-Mar-10 21:00 ET

16:35

GCH The Greater China Fund approves and announces terms of rights offering (12.85 0.00)

Co approved the Fund's intention to conduct a transferable rights offering of additional shares of common stock of the fund. Pursuant to announced terms of the offer, the fund will issue to record date shareholders one transferable right for each share of common stock held on the record date. The record date for the rights offering is currently expected to be March 23, 2010.

16:30

ODC Oil-Dri authorizes additional 250,000 common stock repurchase (17.98 -0.24)

16:20

OREX Orexigen Therapeutics and Patheon announce exclusive manufacturing agreement for Contrave (6.55 -0.06)

Co's announced a long-term agreement for commercial manufacturing of Contrave (naltrexone HCL sustained release/bupropion HCL SR) as well as development of future formulations of Orexigen products. The financial terms of the deal were not disclosed.

16:17

HFFC HF Financial announced that its board of directors has adopted a majority voting policy for the election of its directors, effective immediately. (10.03 -0.12)

16:16

VR Validus Holdings provides initial estimate of losses from the Chilean earthquake and European windstorm Xynthia (26.08 +0.01)

Co provided an initial estimate of losses from the recent Chilean Earthquake and Eumillropean Windstorm Xynthia. Validus expects that the Chilean Earthquake will result in total insured industry losses between $4.0 bln and $8.0 bln. Based on these estimates, Validus expects its loss to be in the range of $170 mln to $270 mln, net of reinstatement premiums and reinsurance, retrocessional and other recoveries. Validus also provided an initial estimate of losses from European Windstorm Xynthia. The co expects its loss to be in the range of $20 mln to $30 mln, net of reinstatement premiums and reinsurance, retrocessional, and other recoveries.

16:11

EVOL Evolving Systems board appoints new chairman (6.87 +0.13)

Co announced that Stephen K. Gartside, Jr., chairman of the board, has resigned from the co's board and Thad Dupper, the co's President and CEO, will assume the additional role of chairman of the board.

16:02

LII Lennox Intl increases dividend 7% to $0.15/share from $0.14/share (45.08 +0.68)

15:57

Conferences and Shareholder/Analyst Meetings of Interest

Some notable events scheduled for the week of March 15 - March 19 are listed below. For a complete list of next week's events, please see the events calendar.

Monday:

- VPRT Investor Day

- ATHR, DIVX, ACTU, ATEC at ROTH OC Growth Stock Conference

- LIFE at UBS West Coast Life Sciences Bus Tour Investor Conference

Tuesday:

- CMI Analyst Meeting

- GR, GE at Goldman Sachs Industrials Unscripted Conference

- BRCM, NETL, QCOM, MDVN at ROTH OC Growth Stock Conference

- FOMC Policy Release

Wednesday:

- DFS Analyst Meeting

- ARUN Analyst Meeting

- JACK, CBRL at JPMorgan Gaming, Lodging, Restaurant & Leisure Conference

- Fed's Fisher

Thursday:

- FST Analyst Meeting

- Fed's Duke

- Fed's Hoenig, Lacker and Pianalto

Friday:

- AerCap Holdings N.V. Investors Meeting

15:50

MOO Late day global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

Ag/chem- MOO +2.0%, SPDRS metals & mining- XME +1.0%, Global Timber- CUT +1.0%, Livestock commods- COW +1.0%, Basic materials- IYM +1.0%, XLB +0.50%, Solar power- TAN +1.0%, Steel- SLX +1.0%, iShares REITS & real estate- ICF +1.0%, IYR +0.75%, Pound/Sterling- currency shares- FXB +0.75%, Ag commods- DBA +0.75%, SPDRS US retailers- XRT +0.75%, Oil HLDRS- OIH +0.75%, iShares Japan- EWJ +0.75%

Actively Traded Lagging Global & Sector ETF Plays:

Crude/WTI oil- USO -1.25%, OIL -1.0%, Nat gas- UNG -1.0%, Heating oil- UHN -1.25%, Homebuilders & Construction- ITB -0.75%, RBOB gas- UGA -1.0%, iShares Malaysia- EWM -0.75%, Commercial banks- KBE -0.75%, VIX vol index- VXX -0.75%, SPDRS biotech- XBI -0.75%, Wind energy- FAN -0.75%, SPDRS utilities- XLU -0.75%, Regional banks- KRE -0.50%, US Dollar index- UUP -0.50%, SPDRS healthcare- XLV -0.50%

15:39

GE General Electric runs to fresh afternoon high of 16.95, its Feb peak and 52-wk close high from Sep is at 17.03/17.01 (16.92 +0.44) -Update- -Technical-

15:38

Earnings Preview for the week of Mar 15th-19th

Companies reporting earnings the week of Mar 15th-19th include: Monday: AAON, AOB, GSOL, GTXI, HWCC, RDNT, SGK, STRL, ATHN, ESC, HOK, HQS, MDVN, SSW, SQNM, and CLUB... Tuesday: ARIA, CFSG, CYPB, DSW, FDS, GSI, MDZ, NGPC, SCR, TBSI, AIR, ABK, JRJC, NKBP, DFS, EM, FMCN, KONG, and RUE... Wednesday: ATU, WNI, SMTS, TNP, CLC, GES, MLHR, IHS, NKE, and STRI... Thursday: CRA, FDX, GME, MCS, NWY, ROST, SCVL, SMRT, VIP, WGO, ADUS, CTAS, ICXT, and PALM... Friday: No companies are confirmed to report

15:32

SPY Trading volume analysis with NYSE chart-- NYSE volume continues to pace well ahead of yesterday's below average total -Technical-

With under 30 min. remaining in today's trading session, NYSE total exchange trading volume is on pace to eclipse yesterday's total with the heaviest volume seen in the 1st 60 min. of trading today, accompanying the sharp selling shortly after the opening bell. NYSE TRIN was also at the highest levels at that time signalling the potential that some mutual fund & institutional distribution was taking place at YTD/52 week highs, selling into the incredible strength in equities thus far this month.

As of 3:30p.m. ET today, nearly 756.5M shares have changed hands on NYSE vs. 698M yesterday, posting a 8.5% increase.

NYSE 60 min volume chart

15:21

SPY S&P 500 slides under midday range low, hovering slightly above session low at 1146.97 -Update- -Technical-

15:16

XLF Financial Select slides to minor new afternoon/session low (15.51 -0.09) -Update- -Technical-

Noted the test of its 52-wk close/intraday highs in opening trade at 15.73/15.76 (session high 15.73) with the midday range break extended to a new afternoon/session low of 15.51 in recent trade.

15:03

TRP TransCanada Pipelines receives South Dakota PUC approval (35.89 +0.64)

Co received a permit from the South Dakota Public Utilities Commission (PUC) to construct and operate the South Dakota portion of the Keystone Gulf Coast Expansion Pipeline project. TransCanada filed its permit application with the PUC in March 2009. The proposed project is an approximate 1,980-mile, 36-inch crude oil pipeline that would begin at Hardisty, Alberta and extend southeast through Saskatchewan, Montana, South Dakota and Nebraska. When completed, the Keystone expansion project will increase the commercial design of the Keystone Pipeline system from 590,000 barrels per day to ~1.1 million barrels per day.

14:58

PCAR NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-

NDX 100 Best % Performers:

PCAR +4.50%, LINTA +3.0%, MCHP +2.50%, BBBY +2.50%, FSLR +2.0%, EBAY +2.0%, SHLD +1.50%, VMED +1.25%, SPLS +1.50%, CTXS +1.25%

NDX 100 Worst % Performers:

HOLX -3.75%, EXPE -2.25%, WCRX -1.75%, MRVL -1.50%, KLAC -1.50%, NWSA -1.50%, LRCX -1.50%, AMZN -1.50%, CEPH -1.50%, BRCM -1.50%, PCLN -1.25%

NASDAQ TRIN @ +0.80

NASDAQ A/D @ -370

14:55

CAT Dow 30 (INDU) leaders & laggards moving into today's final hour of trading -Technical-

INDU 30 Best % Performers:

CAT +2.50%, AXP +1.50%, HD +1.25%, MCD +0.50%, MRK +0.50%, HPQ +0.50%, GE +0.50%

INDU 30 Worst % Performers:

BAC -1.50%, PFE -1.25%, TRV -0.75%, UTX -0.75%, DIS -0.50%, XOM -0.50%, BA -0.50%

NYSE TRIN @ +1.40

NYSE A/D @ +85

14:51

LFL Lan Airlines S.A. reports Feb traffic; System passenger traffic increased 9.6%, capcity increased 7.1% and load factor increased 1.9 pts to 81.9% (18.34 +0.28) -Update-

14:45

YUM YUM! Brands declares quarterly dividend of $0.21/share and announces new authorization for $300 mln in share repurchases (37.56 +0.25)

14:44

COMDX CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices

May corn ended lower by 0.75 cents to $3.645/bushel, May soybeans settled down 4.5 cents to $9.26/bushel, May wheat gained 6.25 cents to finish at $4.55/bushel, May ethanol closed off 2.3 cents to $1.59., and May world sugar futures closed 0.4 cents lower by $0.1967.

14:38

COMDX NYMEX Energy Closing Prices

Crude oil finished off 84 cents to $81.27, natural gas dropped 4 cents to end at $4.40, heating oil settled down 1.95 cents to $2.0955 and RBOB gasoline closed lower by 1.67 cents to $2.2553 (all April contracts).

13:59

SCANX Stocks making new 52-week highs/lows -Technical-

New highs (518) outpace new lows (60): New 52-week highs trading over 1 mln (average daily volume) include: Aerospace/Defense (BA, BEAV, NOC), Apparel (JOEZ, NKE, ZQK), Banks (BBT, FITB, IBN, MTB, STI, ZION), Beverages (CCE, DPS, PEP), Biotech (AMLN, APPI, HGSI), Chemicals (AGU, ASH, DD, LZ, POT, PPG), Computers (AAPL, INFY, EMC), Electronics (IMAX, VSH, WAT), Food (CAG, HNZ, HSY, SLE, TSN), Insurance (AFL, CINF, GNW, MET, UNM), Internet (AKAM, BIDU, FFIV, GSIC, LINTA, TIBX), Iron/Steel (CLF, MTL, SID), Leisure Time (BC, CCL, ELY, RCL), Media (DIS, LBTYA, SVMI), Oil & Gas (APC, FST, IVAN, KOG, NFX, PGH, PWE, RDC), Pharmaceuticals (ESRX, MJN, TEVA), REITs (BMR, BXP, DDR, DEI, HT, PSA, UDR, VTR), Retail-Apparel (ANF, ANN, JWN, ROST, WTSLA), Semis (BRCM, CY, ROVI, VECO), Software (CRM, CTXS, MXB), Telecomm (ERIC, FNSR, MBT, NIHD, OCLR, PLCM) and Transports (KNX, NSC, UNP)... 52-week lows trading over 250k (average daily volume) include: WTU

13:47

MPW Medical Properties Trust: Jury rejects all claims against Medical Properties Trust (11.11 +0.23)

Co announced that a State District Court jury in Harris County, Texas rejected all claims brought against the company and other entities by a group of physicians whose efforts to create and operate a new hospital in Houston failed in 2006. After a trial that spanned 10 weeks, the jury found unanimously in favor of Medical Properties Trust on all counts brought against it regarding the termination of the leases of Houston Town and Country Hospital and medical office building in 2006.

13:47

INDXCH Index Change Reminders

S&P will make the following changes after the close: S&P MidCap 400 constituent ONEOK (OKE) will replace The Black & Decker (BDK) in the S&P 500 index, S&P SmallCap 600 constituent Greenhill & Co. (GHL) will replace ONEOK in the S&P MidCap 400, and Powell Industries (POWL) will replace Greenhill & Co. in the S&P SmallCap 600 index.

13:36

COMDX COMEX Metals Closing Prices

April gold ended lower by $1.20 to $1107, May silver shed 12.5 cents to finish at $17.035 while May copper closed up 0.3 cents to $3.38.

13:35

SIRI Sirius XM Radio: S&P affirms Sirius XM Radio 'B' corporate credit rating; Proposed Senior Notes rated 'B- (0.91 +0.01) -Update-

13:32

COMDX Natural gas drops to its lowest levels of the day at $4.397; now down 4 cents to $4.40 (thats )

13:20

FSLR First Solar pauses between 50-day averages (115.42 +1.73) -Update- -Technical-

Highlighted on Wednesday that the stock was probing its early week high (109.49) with the initial recovery high/March peak at 110.15. The stock surged 7.2% above the early week high (roughly $8.00) to this morning's opening peak and has thus far paused between its 50 day ema/sma (116.76/118.37). Note that this zone also approximates the trendline off the Jan/Feb highs.

12:47

BMY Bristol-Myers: FDA announces new boxed warning on Plavix (25.75 -0.17)

The U.S. Food and Drug Administration today added a boxed warning to the anti-blood clotting drug Plavix (clopidogrel), alerting patients and health care professionals that the drug can be less effective in people who cannot metabolize the drug to convert it to its active form. Plavix is made under a Bristol-Myers Squibb (BMY) - Sanofi Pharmaceuticals (SNY) partnership.

12:45

MOO Midday global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

Ag/chem- MOO +2.25%, Livestock commods- COW +1.0%, iShares REITS & real estate- ICF +1.0%, IYR +0.75%, Global Timber- CUT +0.75%, Basic materials- XLB +0.50%, IYM +0.75%, Pound/Sterling currency shares- FXB +0.75%, Solar power- TAN +1.0%, SPDRS metals & mining- XME +0.75%, US bonds- TLT +0.75%, Steel- SLX +0.75%, Oil HLDRS- OIH +0.50%, iShares Canada- EWC +0.50%

Actively Traded Lagging Global & Sector ETF Plays:

Crude/WTI oil- USO -1.75%, OIL -1.50%, RBOB gas- UGA -1.50%, Heating oil- UHN -1.0%, Commods- GSG -1.0%, DBC -1.0%, Gold miners- GDX -1.0%, Silver- SLV -1.0%, iShares Malaysia- EWM -0.75%, SPDRS healthcare- XLV -1.0%, SPDRS utilities- XLU -0.75%, Pharma HLDRS- PPH -0.75%, Gold- GLD -0.75%

12:42

JPM JP Morgan Chase: Washington Mutual confirms settlement agreement with J.P. Morgan Chase and FDIC (43.39 0.00)

Washington Mutual confirms that it has reached a Global Settlement Agreement with J.P. Morgan Chase and the Federal Deposit Insurance Corporation. The significant terms of the settlement have been read into the record of the United States Bankruptcy Court for the District of Delaware, the court overseeing Washington Mutual, Inc.'s chapter 11 bankruptcy case.

12:39

SPY Stock indices slipping back off morning bounce highs but in midday trade -- Dow -7, S&P -1.6, Nasdaq -4.5 -Update- -Technical-

Relative sector weakness on this move vs. the S&P has been noted in Finance XLF / RKH, Materials XLB, Ag/Chem MOO, Utility UTIL, Gold Miners GDX, Steel SLX, Solar TAN.

12:20

LGND Ligand Pharma announces approval for Revolade in Europe (1.74 +0.05)

Co announces that GlaxoSmithKline (GSK) was granted marketing authorization from the European Commission for Revolade(eltrombopag) for the oral treatment of thrombocytopenia in adults with the blood disorder chronic immune thrombocytopenic purpura. Eltrombopag is indicated for adult chronic ITP splenectomized patients who have not responded to other treatments, such as corticosteroids and immunoglobulins. Eltrombopag may also be considered as second-line treatment for adult non-splenectomized patients where surgery is contraindicated.

12:20

HUN Huntsman prices $350 mln 8 5/8% private offering of senior subordinated notes due 2020 (13.49 +0.04)

12:09

UUP Dollar Index on defensive and hovering just above session low -Technical-

The Dollar index has dropped to a new three week low today (79.69) and thus far has merely drifted sideways just above the low suggesting limited interest. If follow through pressure does develop, there is an important near term support to monitor modestly below in the 79.50/79.25 area. This marks the Mid-Feb low, Jan high, 38% retrace of the Jan-Feb rally, an equality target and its key 50 day sma/ema. A pause near this area would argue that the action off the Feb high was merely a temporary correction (Click for chart).

11:59

European Markets Closing Prices: FTSE: 5625.65 +8.4 +0.2%, DAX: 5945.1 +16.5 +0.3%, CAC: 3927.4 -1.6 -0.04%, Spain's IBEX: +0.29%, Portugal's PSI: +0.06% (6.78 +0.07) -Update-

11:47

COMDX Crude oil also putting in fresh session lows -at $81.50; now down 53 cents to $81.59

11:46

COMDX Gold, silver both drop to their lowest levels of the session

Gold now off $5.20 to $1103; silver is lower by 8.5 cents to $17.075. Note that the dollar index is not moving.

11:44

SPY Trading volume analysis with NYSE chart-- NYSE volume pacing well ahead of yesterday's first 2 hour total -Technical-

While NASDAQ is tracking right on pace with yesterday's tally, NYSE is showing a notable increase in total trading volume thus far today. This volume jump accompanies the early sharp selling we witnessed right out of the gate, which could suggest some mutual fund & institutional participants selling into the recent very bullish strength in equities.

As of 11:30a.m. ET, nearly 377.5M shares have changed hands vs. 314.5M yesterday, a nearly +19% increase.

NYSE 60 min volume chart

11:31

XATA XATA unit chosen for its flagship XATANET fleet management solution for Predestination Transportation (2.98 +0.02)

11:31

LTXC LTX-Credence announces repurchase of convertible debt notes (3.08 +0.07)

Co announced that it has completed the repurchase of $34.9 mln aggregate principal and premium amount of 3.5% Convertible Senior Subordinated Notes due May 2011 at a discount to their par value for net cash consideration of $30.9 mln. The co will also avoid future cash interest payments of approximately $1.3 mln from the repurchase date through the maturity date of the Notes, resulting in a total cash savings of $5.3 mln.

11:30

NVE NV Energy signs agreement with Department of Energy for smart grid funding (11.71 -0.02)

Co announced that it has signed a definitive grant agreement with the Department of Energy, which will provide $138 mln in American Recovery and Reinvestment Act funding for its $301 mln Advanced Service Delivery project. With a definitive DOE grant agreement in place, NV Energy will finalize its planning for the program, with the ultimate goal of completing installation of advanced service delivery infrastructure statewide in late 2012.

11:24

WWVY Warwick Valley Telephone announces dividend increase to $0.24 from $0.22 (13.15 0.00)

11:16

SPY Minor extension of upticks off early lows -- Dow +11, S&P -0.2, Nasdaq -2.2 -Update- -Technical-

Relative sector strength on the push off the lows has been noted in Retail XRT, Oil Service OIH, Biotech IBB, Finance XLF, Industrial XLI, REITs IYR, Rail, Restaurant, Ag/Chem MOO.

11:07

MDT Medtronic starts international study of CoreValve transcatheter aortic valve system (43.76 -0.59)

Co announced the start of the first of several new initiatives in a robust international clinical program for its CoreValve transcatheter aortic valve system, a minimally-invasive alternative to open-heart surgery for aortic valve replacement. The CoreValve Advance clinical study began enrolling patients last week, with the first two implants occurring in Germany. CoreValve Advance is a prospective, observational international post-market study to evaluate clinical outcomes of patients with severe aortic stenosis who are treated with the CoreValve system in standard clinical practice. Most of the trial sites will be in Europe, where the CoreValve system is used in approximately 75 percent of transcatheter aortic valve replacements involving percutaneous femoral access.

11:07

TMR Meridian Resource provides update to possible competing offers; continues to recommend merger agreement with Alta Mesa (0.29 +0.01)

Co reported an update on events related to the announced merger proposal between itself and Alta Mesa Holding. As previously reported, preliminary indication of interest contemplated the acquisition of all of Meridian's common stock at a purchase price of not less than $0.30 per share. The Company entered into a confidentiality agreement with the third party and provided extensive due diligence information to them. On March 10, 2010, the third party notified us that they were not prepared to make a binding offer that would provide greater value to Meridian and its shareholders than the value that would be provided under the Alta Mesa agreement. On February 19, 2010, Meridian's board received another unsolicited, non-binding preliminary indication of interest from another third party. The preliminary indication of interest contemplated the acquisition at a purchase price of not less than $0.31 per share. this time, the board has not received a binding offer from this particular third party. If a binding offer is submitted, the board will consider all of its alternatives consistent with its fiduciary duties. At this time the board continues to recommend that shareholders vote to adopt the merger agreement with Alta Mesa

11:06

S&P affirms 'A/A-1' FC & 'AA-/A-1+' LC ratings on Israel; outlook stable

Standard & Poor's Ratings Services said that it affirmed its 'A/A-1' foreign currency and 'AA-/A-1+' local currency sovereign credit ratings on the State of Israel. The outlook remains stable. At the same time, we assigned our 'A' debt rating to Israel's EUR1.5 billion senior unsecured bond due in 2020. "Our sovereign credit ratings on Israel reflect our view of its external position. We believe that the global recession hurt Israel's export performance in 2009," said Standard & Poor's credit analyst Veronique Paillat-Chayrigues. Nevertheless, Israel runs structural current account surpluses, and The Bank of Israel (BoI) increased its foreign exchange reserves to more than $60 billion at year-end 2009 from $43 billion a year earlier. Gross external financing needs in 2010 (current account payments, amortization of long-term debt, plus stock of short-term external debt) are expected to account for 85% of BoI's reserves plus current account receipts, a significant improvement from the 109% in 2008. "The ratings also reflect our view of the resiliency of Israel's economy, which has benefited from substantial labor and market reforms over the past decade," she added. These reforms have helped Israel's high-income economy grow at an average of 3.7% over the past 10 years.

10:49

SPY S&P 500 range trade near lows -Update- -Technical-

The index has thus far held above a short term support at 1145 but the early price action has been somewhat aggressive based on the intraday patterns. The top of a short term support zone below is at 1140.

10:35

MOO 1st hour global & sector ETF view -Technical-

Actively Traded Leading Global & Sector ETF Plays:

Ag/chem- MOO +2.0%, SPDRS metals & mining- XME +1.0%, Steel- SLX +1.0%, iShares Canada- EWC +1.0%, Global timber- CUT +0.75%, Basic materials- IYM +0.75%, XLB +0.50%, Solar power- TAN +0.75%, Livestock commods- COW +0.50%, Ag commods- DBA +0.50%, Russia- RSX +0.50%, Pound/Sterling currency shares- FXB +0.50%, Euro currency shares- FXE +0.50%

Actively Traded Lagging Global & Sector ETF Plays:

Biotech- XBI -1.25%, IBB -0.75%, Wind energy- FAN -1.0%, iShares Malaysia- EWM -0.75%, SPDRS healthcare- XLV -0.75%, Homebuilders & Construction- XHB -0.75%, ITB -0.75%, Aerospace & Defense- PPA -0.75%, Pharma HLDRS- PPH -0.75%, iShares transports- IYT -0.50%

10:27

LINTA NASDAQ 100 (NDX) leaders & laggards moving through today's volatile 1st hour of trading -Technical-

NDX 100 Best % Performers:

LINTA +2.50%, PCAR +2.50%, SHLD +1.75%, FSLR +1.50%, MCHP +1.25%, EBAY +1.0%, VOD +1.0%, NVDA +1.0%, WYNN +0.75%

NDX 100 Worst % Performers:

HOLX -2.25%, MRVL -2.0%, NTAP -1.50%, CERN -1.50%, ORCL -1.50%, PCLN -1.50%, YHOO -1.50%, EXPD -1.50%, MAT -1.25%, ERTS -1.50%

NASDAQ TRIN @ +1.15

NASDAQ A/D @ -660

10:24

CAT Dow 30 (INDU) leaders & laggards moving through today's volatile 1st hour of trading -Technical-

INDU 30 Best % Performers:

CAT +1.50%, AXP +1.50%, HD +1.0%, MCD +0.75%, GE +0.25%

INDU 30 Worst % Performers:

PFE -1.50%, UTX -1.0%, BA -0.75%, DIS -0.50%, T -0.50%, XOM -0.50%

NYSE TRIN @ +1.40

NYSE A/D @ -285

10:19

COMDX Crude oil trades into negative territory and puts in new lows at $81.83; now down 20 cents to $81.90

10:19

SPY Stock indices move in unison into the red -- Dow -15, S&P -3, Nasdaq -9 -Update- -Technical-

Sector weakness has been noted in Disk Drive, Defense, Health Provider, Biotech IBB, Pharma PPH, Computer-Hardware, Reg Bank

10:16

IPHS Innophos Holdings gives notice to redeem senior unsecured notes due 2012 (25.63 -0.05)

Co announced that it had given the required notice under the governing indenture to redeem for cash all remaining $56.0 mln of its outstanding 9 1/2% Senior Unsecured Notes due 2012 on April 15, 2010. The redemption price for the Notes will be 100% of the principal amount of the notes, plus accrued and unpaid interest to the redemption date. The redemption will result in reduced annual after tax cash interest expense of approximately $3.3 million or $0.15 per share.

10:14

SPY S&P 500 slips back near initial support at 1148 -- session low 1147.92 -Update- -Technical-

Noted resistance in The Technical Take at 1154 and initial supports at 1148 and 1145. The opening run stalled just shy of resistance (session high 1153.41) with the subsequent pullback testing an initial level of interest. A posture above these two intraday supports is needed to keep a constructive pattern off yesterday's low intact.

10:09

C Citigroup early run pauses near resistance zone (4.05 -0.12) -Update- -Technical-

C has been of interest to the market this week as it has provided leadership to the key Finance sector. Technically it staged a breakout above its Feb highs and 50 day ema with today's early gain bringing the rally off the March low to more than 26%. Thus far it has stalled just shy of a resistance zone at 4.27-4.37 (session high 4.22) which marks the 50% retrace of the Aug-Feb decline, Nov high and its 200 day ema. The moving average has been a decent resistance since the second break below in mid 2007 with rebound attempt stalling modestly below (Click for chart).

10:06

COMDX Crude oil trades to its lowest levels of pit trade as equity indices sell off and dollar index continues to recoup losses; now up 14 cents to $82.25

10:05

COMDX Gold and silver tick back to the flat line as dollar index continues to recoup losses; gold now lower by $1.70 to $1106.50 and silver is currently higher by a penny to $17.17

09:56

SPY Stock indices slip slightly after sentiment data -- Dow +22, S&P +1.5, Nasdaq +3.1 -Update- -Technical-

09:48

TECHX Opening Point Gainers/Losers -Technical-

Point Gainers: POT (+8.52), AGU (+4.62), MOS (+3.90), CTRN (+2.36), CLF (+2.50), RTP (+2.42), IPI (+1.97), FSLR (+1.79), DB (+1.74), ARO (+1.68), ATPG (+1.47), CAGC (+1.49)

Point Losers: CF (-3.02), PLL (-1.76), NFLX (-1.58), NUVA (-1.23), ZUMZ (-1.25), CYTX (-1.16), ABT (-1.04), UHS (-1.02), WILC (-0.87), BWEN (-0.88), PSUN (-0.66)

09:45

ECONX Reminder: Business Inventories data due out in about 15 min at 10:00ET

09:45

ECONX Reminder: Mich Sentiment data due out in about 10 min at 9:55ET

09:44

CME CME Group pushes higher intraday as it continues to lift further above its 2-wk Mar range high of 314.00 (316.83 +3.62) -Technical-

09:42

NGPC NGP Capital Resources reschedules release of Q4 results to Tuesday, March 16; co was expected to report this morning (9.23 -0.02)

09:40

WHR Whirlpool wins favorable verdict against LG Electronics in Delaware patent litigation (86.44 -0.27)

Co announced that it won a favorable jury verdict against LG Electronics in a patent infringement lawsuit in the US District Court in Wilmington, Delaware. The jury awarded Whirlpool Corporation monetary damages of $1.78 mln based on LG's manufacture and sale of side-by-side refrigerators that infringe Whirlpool's patent for a refrigerator in-the-door ice system. Based on this jury verdict Whirlpool will be seeking a permanent injunction to stop LG's continued infringement of the patent when final judgment is finalized later this year.

09:39

SPY Stock indices gap up and pause with Nasdaq 100 unch/Nasdaq Comp +1 underperforming -- Dow +18, S&P +1.6 -Update- -Technical-

09:37

IPI Relative strength in Ag/Chem in opening trade -Technical-

POT +7.1% has tested its Jan peak, IPI +7.1%, MOS +6.4% probed its Jan gap bottom at 64.35 (session high 64.25), AUG +6.9%, BG +2.6%, MOO +2.3%, MON +1.2%.

09:32

POT Potash gaps higher as it nears a test of its early Jan/52-wk high of 126.47 (125.41 +8.55) -Update- -Technical-

Company raised Q1 guidance, last night

09:31

XLF Financial Select Sector SPDR gaps up near its Oct/52-wk close/intraday highs at 15.73/15.76 (15.72 +0.12) -Technical-

09:26

CF CF Industries confirms it and Terra Industries agree to combine (100.61 )

Co's announced they have entered into a definitive merger agreement to combine the two companies. Terra stockholders will receive $37.15 in cash and 0.0953 of a share of CF Industries common stock for each share of Terra common stock. The transaction has a total value of approximately $4.7 bln. The boards of directors of both companies have approved the combination. The transaction is anticipated to create annual cost synergies of up to $135 million driven primarily by the elimination of overlapping corporate functions, optimization of transportation and distribution systems, and through greater economies of scale in procurement and purchasing. The transaction is expected to be significantly accretive to CF Industries stockholders on both a GAAP and cash EPS basis.

09:18

CMC Commercial Metals provides FebQ guidance, says Q2 has been particularly difficult (16.97 )

Co says it expects to report a Q2 (Feb) loss of $1.50-1.60. This includes numerous items including accruals for severance, lower of cost or market inventory valuation adjustments, job loss reserves, and LIFO expense. Not comparable to $(0.28) consensus. "Q2 which encompasses the winter months is always our weakest quarter. Q2 has been particularly difficult due to a combination of continued weak end-use demand in the nonresidential construction markets, unusually harsh winter conditions in the U.S. and Europe, and rapidly rising ferrous scrap prices which have outpaced finished goods prices. Each of our segments will report operating losses for the second quarter with the exception of International Marketing and Distribution."

09:11

ENDP Endo Pharm announced the appointment of Julie McHugh as its COO, effective March 15, 2010 (23.45 )

09:09

SIRI SIRIUS XM Radio intends to offer $550 mln of senior notes (0.91 )

Co intends to offer $550 mln of Senior Notes due 2015 to qualified institutional buyers. SIRIUS XM will use the net proceeds from any such offering to redeem all of the co's 9 5/8% Senior Notes due 2013 and pay fees and expenses of the offering, including premium and accrued and unpaid interest on the notes being redeemed. The co intends to use any remaining net proceeds for general corporate purposes.

09:03

VZ Verizon to dual list its stock on NASDAQ and NYSE effective today (29.84 )

09:01

ROVI Rovi prices $400 million of its 2.625% convertible senior notes due 2040 (37.00 )

The notes will be convertible, subject to certain conditions, into cash up to the principal amount of the notes and, with respect to any excess conversion value, into shares of the Company's common stock. The initial base conversion rate of 21.1149 shares per $1,000 principal amount of notes (equivalent to a base conversion price of approximately $47.36 per share), subject to adjustment on the occurrence of specified events. The notes will be unsecured, unsubordinated obligations of Rovi Corporation, and interest will be payable semi-annually in cash at a rate of 2.625% per annum, and will be convertible upon satisfaction of certain conditions. The Company estimates that the net proceeds from the offering will be approximately $387.4 million, after deducting initial purchasers' discounts and estimated offering expenses. The notes will mature on March 15, 2040, and will first become redeemable by the Company, and can be put to the Company by holders thereof, on February 20, 2015.

09:01

KSW KSW Inc says CEO has adopted a personal trading plan (3.79 )

Co announces that Floyd Warkol, its Chairman of the Board and CEO, has adopted a personal trading plan, which is intended to comply with Securities Exchange Act Rule 10b5-1, to exercise 105,000 stock options granted in 1995 under the co's Employee Stock Option Plan, and to sell 105,000 shares of common stock during the remainder of 2010. Mr. Warkol, who has been Chairman of the Board and CEO since 1995, currently owns 750,386 shares of the co's common stock. The options, if not exercised, will expire on December 31, 2010.

09:01

XOMA XOMA Limited 052 Phase 2 trial initiated in Type 1 diabetes patients (0.61 )

Co announces the initiation of a Phase 2 clinical trial of XOMA 052, its antibody to interleukin-1 beta, in Type 1 diabetes patients. Funding for the trial is being provided by the Juvenile Diabetes Research Foundation International. XOMA is the study sponsor and will provide XOMA 052 drug product for the trial.

09:00

MGM MGM Mirage enters into settlement agreement in New Jersey (11.67 )

Co has entered into a settlement agreement with the New Jersey Division of Gaming Enforcement (DGE) under which it will sell its 50% ownership interest in the Borgata Hotel Casino & Spa and related leased land in Atlantic City. The settlement is subject to approval by the New Jersey Casino Control Commission (CCC). If approved, MGM MIRAGE will cease doing business as a gaming licensee in New Jersey. As MGM MIRAGE previously announced, the DGE has recommended to the CCC that MGM MIRAGE's joint venture partner in Macau be found unsuitable and the Company be directed to disengage itself from any business association with this partner.

08:47

SCHW Charles Schwab reports monthly activity highlights (19.10 )

Co reports net new assets brought to the co by new and existing clients in February 2010 totaled $7.9 bln. Total client assets were $1.432 trln as of month-end February, up 37% from February 2009 and up 2% from January 2010. Client daily average trades were 302.6 thousand in February 2010, down 14% from February 2009 and down 15% from January 2010.

08:46

UTX United Tech reaffirms FY10 EPS outlook of $4.40-$4.65 vs $4.63 consensus; reaffirms revs of $54-$55 bln vs $54.8 bln consensus (72.04 )

08:39

SRV Cushing MLP Total Return fund announces upsizing and $8.05 pricing public offering of 4 mln common shares (8.20 )

08:36

LGF Lions Gate Entain rejects Icahn's unsolicited partial tender offer (5.67 )

Co announces that its Board of Directors, in consultation with its financial and legal advisors, has determined, by unanimous vote of the directors present, that the unsolicited partial tender offer from Carl Icahn and certain of his affiliated entities to purchase up to 13,164,420 common shares of Lionsgate for $6.00 per share is financially inadequate and coercive and is not in the best interests of Lionsgate and its shareholders and other stakeholders. The Board strongly recommends that Lionsgate shareholders not tender their shares into the Icahn Group offer. The reasons for Lionsgate Board's recommendation to reject the Icahn Group's include: 1) The Icahn Group's offer is inadequate from a financial point of view and does not reflect the full value of the Lionsgate shares; 2) As the owner of 29.9% of Lionsgate's outstanding shares, the Icahn Group would likely have the power to effectively veto certain significant transactions and other matters requiring approval by a special resolution of shareholders; 3) The purchase price offered by the Icahn Group represents an effort to acquire control of Lionsgate without paying a control premium; 4)The acquisition by the Icahn Group of 29.9% of Lionsgate's outstanding shares would constitute an event of default under Lionsgate's credit facilities; 5) The Icahn Group lack industry experience; 6) The Icahn Group's "partial bid" is inherently coercive to other shareholders; and 7) The offer is highly conditional and creates substantial uncertainty for Lionsgate's shareholders.

08:34

BIG Big Lots promotes Joe R. Cooper to Executive Vice President, Chief Financial Officer (35.88 )

08:33

BDMS Birner Dental announces increase in its quarterly dividend from $0.17 to $0.20/share (18.26 ) -Update-

08:32

BDMS Birner Dental announces restatements relating to consolidation of managed professional corporations (15.26 )

Co intends to restate its consolidated statements of operations for the years ended December 31, 2007 and 2008 and for each of the quarters of the years ended December 31, 2008 and 2009. The restatements will be made in the Company's annual report on Form 10-K for the year ended December 31, 2009, which the Company intends to file by March 31, 2010. As a result of the restatements, the Company's reported revenue for each of the restated periods will increase by at least 65% to reflect amounts paid to dentists, hygienists and dental assistants. Clinical salaries and benefits expense will increase by the same dollar amounts as the increase in revenue.

08:31

NOK Nokia updates mobile device market estimates for 2010 based on its revised definition of the industry mobile device market applied to its reporting beginning in 2010 (14.49 )

Beginning in 2010, Nokia is revising its definition of the industry mobile device market that it uses to estimate industry volumes. This is due to improved measurement processes and tools that enable Nokia to have better visibility to estimate the number of mobile devices sold by certain new entrants in the global mobile device market. These include vendors of legitimate, as well as unlicensed and counterfeit, products with manufacturing facilities primarily centered around certain locations in Asia and other emerging markets. For comparative purposes only going forward, applying the revised definition and improved measurement processes and tools that we are using beginning in 2010 retrospectively to 2009, Nokia estimates that industry mobile device volumes in 2009 would have been 1.26 billion units... Applying its revised definition of the industry mobile device market applicable beginning in 2010 on a comparable year-over-year basis, Nokia expects industry mobile device volumes to be up approximately 10% in 2010, compared to 2009; Nokia targets its mobile device volume market share to be flat in 2010, compared to 2009; and Nokia targets to increase its mobile device value market share slightly in 2010, compared to 2009. These expectations and targets are the same as announced by Nokia on January 28, 2010 while now applying the revised market definition.

08:30

SPY E~mini index futures lift to GLOBEX & 52 week highs following econ. data -Technical-

S&P 500 (ES) +4.00

NDX 100 (NQ) +4.25

INDU 30 (YM) +30

08:30

CLD Cloud Peak Energy announces year-end 2009 reserves (16.24 )

Co announces it has submitted year-end 2009 coal reserve estimates to Rio Tinto plc on behalf of Cloud Peak Energy Resources. Cloud Peak Energy also submitted its year-end 2009 non-reserve coal deposit estimates to Rio Tinto. This information was provided to Rio Tinto pursuant to the Master Separation Agreement entered into in connection with the November 2009 initial public offering of Cloud Peak Energy Inc. and related separation and transition transactions. Cloud Peak Energy Inc. owns a 51.7% controlling interest in Cloud Peak Energy Resources. Rio Tinto owns the remaining interest in Cloud Peak Energy Resources LLC. As of December 31, 2009, Cloud Peak Energy controlled approximately 1.0 billion tons of proven and probable coal reserves. All of the company's proven and probable reserves are classified as steam coal. The co also announced that as of December 31, 2009, the company's non-reserve coal deposits were as follows: Antelope mine (80 million tons) and Cordero Rojo mine (175 million tons).

08:23

ATPG ATP Oil & Gas misses by $0.08, misses on revs (17.43 )

Reports Q4 (Dec) loss of $0.20 per share, excluding non-recurring items, $0.08 worse than the First Call consensus of ($0.12); revenues fell 8.2% year/year to $74.3 mln vs the $77 mln consensus. In the fourth quarter 2009, ATP produced 1.3 MMBoe compared to 0.9 MMBoe in the fourth quarter 2008. With the startup of production at the Telemark Hub, ATP anticipates a further increase in its oil revenues as a percent of total revenues as well as its oil to gas production ratio during 2010. Co also announces a 376% reserve replacement ratio, and announced that its major deepwater Gulf of Mexico development, the Telemark Hub, is on schedule for first production later this month. At ATP's other deepwater development, the Canyon Express Hub, the MC 217 #3 well was placed on initial production March 11, 2010 at 30 MMcf/d gross.

08:19

DHT DHT Holdings responds to MMI Investments; says Board of Directors is pursuing the same fundamental goal MMI expressed for enhancing the co's performance and increasing shareholder value (4.09 )

Co announces it sent a letter to MMI Investments, L.P. in response to MMI's public letter of March 2, 2010: " I want to assure you that the DHT Board of Directors is pursuing the same fundamental goal you express of enhancing the Company's performance and increasing shareholder value... We believe DHT is well positioned to successfully execute on its growth strategy. As you note in your letter, with all of its vessels chartered to solid counterparties at contracted charter rates, DHT has stable and positive cash flow for several years to come. We have also significantly strengthened our balance sheet by making $153 million of debt repayments since 2008. When coupled with our proven access to the capital markets, the suspension of the dividend, and the recently announced holding company reorganization, DHT now has the flexibility to grow and prosper. While we recognize you take issue with some of our decisions, most of which predate your investment in DHT, it is critical to understand the broader context in which they were made... We review DHT's dividend policy every quarter based on the Company's financial commitments, current and projected cash flow, shipping market conditions, and new business opportunities. In June 2009, the Board took steps to reduce total leverage and increase flexibility by prepaying $50 million under our credit facility. This prepayment improved DHT's future liquidity by pushing out scheduled debt repayment obligations and allowed the Company to comply with its financial covenants and pay the dividend."

08:16

ECONX Reminder: Retail Sales data due out in about 14 min at 8:30ET

08:15

HANS Hansen Natural announces $200 mln share repurchase program (41.39 )

08:12

MHR Magnum Hunter announces year-end 2009 proved reserves (3.10 )

Co announced today a 98.9% increase in the quantity of the co's Proved Reserves at year-end 2009 versus year-end 2008. Proved Reserves increased 99% to 6,203 MBoe, an increase of 3,118 MBoe (74% crude oil and NGLs, 43% Proved Developed Producing) as of December 31, 2009 when compared to 3,085 MBoe as of December 31, 2008 (77% crude oil and NGLs, 47% Proved Developed Producing). The co's reserve life (R/P ratio) was 14 years at December 31, 2009. Magnum Hunter's December 31, 2009 PV-10 increased 212% to $65.6 mln, or an increase of $44.5 mln, from the December 31, 2008 value of $21.0 mln.

08:11

On The Wires

TransCanada Corporation (TRP) announces that the National Energy Board has approved the company's application to construct and operate the Canadian portion of the Keystone Gulf Coast Expansion Project.... CB Richard Ellis Group (CBG) announces the launch of an iPhone application that connects users of the mobile communications device with the rich resources of the world's preeminent commercial real estate services firm... ADVENTRX Pharmaceuticals (ANX) announces that the FDA has accepted the proposed proprietary name "Exelbine" for the Company's product candidate ANX-530... United Natural Foods (UNFI) announces plans to adopt hydrogen fuel cell technology to power the lift truck fleet at its Sarasota, Florida distribution center. As part of the Sarasota initiative to replace lead acid batteries and their associated charging equipment with hydrogen fuel cells, UNFI has partnered with a number of companies to implement the roll-out, including Plug Power (PLUG), Air Products and Chemicals (APD) and Abel Womack, Inc... Delhaize Group (DEG) announces that it has launched through its wholly owned Dutch subsidiary Delhaize "The Lion" Nederland B.V. a voluntary public tender offer of EUR 35.73 for all of the common registered shares of Delhaize Group's Greek subsidiary "Alfa Beta" Vassilopoulos S.A., which are not yet held by any of the consolidated companies of Delhaize Group... National Health Investors (NHI) announces a total of $29.7 million in purchase/leaseback transactions... H.B. Fuller Company (FUL) announces that it has entered into a stock purchase agreement under which it will acquire all of the shares of Revertex Finewaters Shd Bhd in Malaysia, a joint venture of Yule Catto & Company Plc and Jahor Corporation... Valley National Bancorp (VLY) announces that its wholly-owned subsidiary, Valley National Bank, assumed all deposits and received certain assets of Manhattan-based LibertyPointe Bank from the Federal Deposit Insurance Corporation, which was appointed the receiver for LibertyPointe Bank... Bridgepoint Education (BPI) announces that Ashford University has signed an articulation agreement with Nashville State Community College, based in Nashville, Tennessee... Integra LifeSciences (IART) announces that the U.S. commercial launch of Integra Spine's Paramount Pedicle Screw Fixation System for minimally invasive spine surgery.

08:08

FSR Flagstone Reinsurance provides initial estimate for Chilean earthquake loss and European windstorm Xynthia (11.26 )

Co announced that its preliminary estimate of claims relating to its exposure to the earthquake in Chile is $50 mln net of reinstatement premiums and retrocession. Furthermore, Flagstone expects claims relating to Windstorm Xynthia, which struck Europe on February 27, to be between $3 - $6 mln net of reinstatement premiums and retrocession.

08:07

ANX ADVENTRX Pharma receives brand name acceptance for ANX-530 (0.21 )

Co announced that the FDA has accepted the proposed proprietary name Exelbine for the co's product candidate ANX-530 (vinorelbine injectable emulsion).

08:03

CBEH China Bio Energy reports Q4 EPS of $0.28 vs $0.28 First Call consensus; revs $93.3 mln vs $85.27 mln First Call consensus; CBEH Q4 revenues rose 58% YoY (8.36 )

China Bio Energy sees FY10 revs of $382 mln vs $367.57 mln First Call consensus. Mgmt expects 2010 net income of $48 million, representing an increase of 32.8% and 26.3% compared to 2009 revenue and net income, respectively. Guidance includes an additional 50,000 tons of annual biodiesel manufacturing capacity expected to come online during the third quarter of 2010 and the lease of 3 additional retail gas stations. Management reserves the right to revise guidance in the future.

08:03

ONTY Oncothyreon consults with Division of Corporation Finance about accounting for 2008 License Agreement (4.98 )

Co announces that it will restate its 2008 financial statements contained in its Annual Report on Form 10-K for the year ended Dec 31, 2008, and its Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and Sept 30, 2009 to correct a revenue recognition error in accounting for a license agreement with Merck KGaA signed in December 2008. The co is currently discussing the error with the Division of Corporation Finance of the SEC, and it is unclear whether the correction of the error will result in a restatement to provide further disclosure about the basis for the Company's accounting, or in a restatement of revenue and deferred rev. "While we are disappointed that we're faced with this complex accounting issue, it has no effect on historical cash balances including short-term investments, which were $33.2 million as of December 31, 2009, or projected operations or cash flows from operations and no effect on our science, our clinical trials or our arrangement with Merck KGaA."

08:02

NVAX Novavax misses by $0.09, beats on revs (2.48 )

Reports Q4 (Dec) loss of $0.15 per share, $0.09 worse than the First Call consensus of ($0.06); revenues rose 7.1% year/year to $0.8 mln vs the $0.1 mln consensus. Co says the primary reason for the increased loss in the comparative fourth quarter and year-over-year results are the number and size of the clinical trials that were performed in 2009, compared to 2008.

08:01

PGNX Progenics Pharm to advance oral methylnaltrexone into late stage clinical development (4.91 )

Co announced that it plans to advance oral methylnaltrexone for the treatment of opioid-induced constipation (OIC) into late stage clinical development and will commence a phase 2b/3 clinical trial of a methylnaltrexone tablet in chronic-pain patients in the second half of 2010. Progenics also announced data from a clinical trial of this methylnaltrexone tablet.

08:01

YONG Yongye Intl. signs agreement to secure coal resources Pproject in Inner Mongolia, PRC (8.56 )

Co announces its operating entity in China, Yongye Nongfeng Biotechnology, signed a preliminary agreement with a local supplier of humic acid to purchase an undeveloped lignite coal resources project in Inner Mongolia, PRC. Consummation of the acquisition requires the satisfaction of certain customary closing conditions, including receipt of governmental approval. Yongye Nongfeng is seeking to meet these requirements and complete the transfer as quickly as practicable. Financial terms weren't disclosed.

08:01

MAM Maine & Maritimes: Emera to acquire Maine & Maritimes corporation for $45.00/share (32.00 )

Co announced today that MAM has entered into a merger agreement with BHE Holdings Inc. of Bangor, (BHE), a subsidiary of Emera (TSX: EMA). Under the terms of the agreement, all outstanding shares of MAM common stock will be purchased for $45.00 per share in cash, representing over a 40 percent premium based on MAM's closing share price on Thursday, March 11, 2010, the last trading day prior to the announcement of the proposed merger and MAM will become a wholly owned subsidiary of Emera.

07:56

ANN AnnTaylor beats by $0.06, reports revs in-line; guides Q1 revs in-line (19.45 )

Reports Q4 (Jan) earnings of $0.05 per share, excluding non-recurring items, $0.06 better than the First Call consensus of ($0.01); revenues fell 2.9% year/year to $469.1 mln vs the $472.3 mln consensus. Comparable store sales for the quarter were essentially flat, at negative 0.6% vs the prior year. At Ann Taylor, comparable store sales declined 7.3% while at LOFT, comparable stores sales increased 2.1%. Gross margin, as a percentage of sales, was 52.5%, reflecting a 1,680 basis point increase vs the gross margin rate achieved in 4Q08. Co issues in-line guidance for Q1, sees Q1 revs of ~$445.0 mln vs. $443.72 mln consensus. The co currently expects fiscal 2010 total net sales to improve over the levels achieved in 2009. In addition, the co anticipates a return to positive comparable store sales at both brands in each of the fiscal quarters of 2010, as a result of more compelling product assortments, strategic marketing initiatives and a disciplined approach to inventory management. Gross margin is expected to remain approx equivalent to level achiveved in fiscal 2009.

07:47

COMDX Crude oil is moving higher this morning on the back of a weaker dollar index and a bullish IEA report that said world oil demand will rise this year due to surging economic activity in Asian countries, especially China; currently up 53 cents to $82.64

Session highs are at $82.83. (See 5:58 comment for more details regarding IEA report)

07:32

ARNA Arena Pharm misses by $0.01, misses on revs (3.11 )

Reports Q4 (Dec) loss of $0.32 per share, $0.01 worse than the First Call consensus of ($0.31); revenues were unchanged from the year-ago period at $2.7 mln. At December 31, 2009, cash, cash equivalents and short-term investments totaled $115.4 million and approximately 92.8 million shares of common stock were outstanding. On March 9, 2010, Arena received net proceeds of approximately $24.2 million from the sale of approximately 8.3 million shares under an equity financing commitment it entered into with Azimuth Opportunity Ltd., or Azimuth, in March 2009. Arena expects to use cash, cash equivalents and short-term investments of approximately $97 to $107 million for its operating activities and interest expense in 2010, and approximately $7 million for capital expenditures primarily for the manufacturing facility in Switzerland. This assumes that Arena, and not another pharmaceutical company, pays for the lorcaserin pre-commercial launch activities. "Our primary objectives in 2010 are getting lorcaserin approved by the FDA and optimizing the value of lorcaserin in a commercial agreement."

07:32

NITE Knight Capital Group reports Feb volume (16.54 )

Co recorded average daily equities share volume in February 2010 of 102.6 mln, virtually unchanged from 102.3 mln in January 2010, and up approximately 95.8% from 52.4 mln in February 2009.. Co's equities volumes were as follows: Average daily U.S. equities dollar volume traded in February 2010 was $26.5 bln, down ~5.7% from $28.1 bln in January 2010 and up approximately 36.1% from $19.5 bln in February 2009. Average daily U.S. equities trade volume in February 2010 was 3.7 mln, down ~3.7% from 3.9 mln in January 2010, and down ~1.2% from 3.8 mln in February 2009. Average daily U.S. equities share volume in February 2010 was 9.1 bln, down approximately 12.2% from 10.4 bln in January 2010, and up approximately 49.3% from 6.1 bln in February 2009.

07:30

WILC G. Willi Food Intl announces that it has priced ~3.3 mln shares at $6.05 (6.95 )

07:29

EXFO EXFO announces acquisition of global wireless test specialist NetHawk Oyj (6.32 )

Co announced the acquisition of NetHawk Oyj, the second-largest provider of 2G, 3G and 4G/LTE protocol analyzers and simulators for wireless network equipment manufacturers (NEMs) and network operators, in an all-cash transaction estimated at (euro)37.3 mln for all outstanding shares on a fully diluted basis, or (euro)27.6 mln excluding NetHawk's net cash. EXFO entered into a purchase agreement to acquire 91% of NetHawk's outstanding shares and will purchase the remaining shares pursuant to a statutory procedure under the Finnish Companies Act. An additional earn-out, based on sales over the next three years, could raise the total value of the transaction by (euro)8.7 mln. The acquisition is expected to be neutral for the remainder of fiscal 2010 and accretive in fiscal 2011, excluding after-tax amortization of intangible assets and stock-based compensation costs.

07:24

BOFL Bancshares Of Florida announced that it has commenced an offering to sell shares of its common stock in a public offering to raise at least $45.0 mln (1.35 ) -Update-

07:21

AGII Argo Group Int'l enters into accelerated share repurchase agreement with Goldman Sachs for $17.5 mln of its common stock (30.05 )

07:14

AMGN Amgen: Swedish Orphan Biovitrum agrees to run an additional Kineret bulk drug campaign with Amgen (57.49 )

Swedish Orphan Biovitrum announced an agreement with Amgen to run an additional Kineret bulk drug campaign. In addition, Swedish Orphan Biovitrum will pay to buy-out previously agreed future sales milestones for Kineret and Kepivance. Under the agreement Amgen will run an additional Kineret campaign at its Boulder facility in Colorado, as well as manufacture drug product at its facility in Puerto Rico. The objective of this additional campaign is to meet an expected increased market demand of Kineret(R) until Swedish Orphan Biovitrum has transferred manufacturing processes to new contract manufacturers.

07:07

ACHN Achillion Pharma reports Q1 results; guides FY10 EPS below consensus (2.70 )

Achillion Pharma reports Q1 earnings of ($0.25) vs ($0.18) First Call consensus; revs were $0.061 mln vs $0.14 mln First Call consensus. Co issues FY10 EPS guidance below expectations; sees FY10 EPS range from ($0.65) to ($0.70) per share vs First Call consensus of ($0.58)

07:00

TSL Trina Solar announces increased module shipments with ENERQOS in Italy (23.22 )

Co announced that its subsidiary, Changzhou Trina Solar Energy, has increased its yearly shipments to ENERQOS SPA ("ENERQOS"), a leading Italian photovoltaic system and solar power plant construction company headquartered in Monza with offices across Italy, France and Greece. Under the terms of the agreement signed in November 2009, Trina Solar is increasing its 2010 committed quantity to ENERQOS to 23 MW of PV modules in 2010 from 2 MW in 2009. Shipments include 13 MW and 10 MW of PV modules for the first and second half of 2010, respectively, with agreed prices for the first and second quarter of 2010.

07:00

BVX Bovie Medical announces clearance to market its ICON VS Electrosurgical Generator (7.54 )

Co received clearance from the FDA to market its ICON VS electrosurgical generator. The generator has been designed to perform vessel sealing procedures, providing both monopolar and bipolar energy options to the surgeon. The clearance of the ICON VS generator allows the Company to complete testing required in support of the previously filed vessel sealing instrument 510(k) application.

06:57

SCOK SinoCoking completes private placement financing and raises additional $37 million (31.75 )

Co completed a subsequent and final closing of its private placement equity financing, following the initial closing of the financing which occurred on February 5, 2010. Co issued and sold an additional 5,000,000 of its units of its restricted equity securities to U.S. accredited investors in reliance on an exemption from registration under Regulation D, and an additional 1,162,376 of its unregistered units to non-U.S. investors under Regulation S and/or Regulation D. Each unit consists of one share of restricted common stock, and a warrant for the purchase of 0.5 shares of common stock with an exercise price of $12.00 per share. The units were sold for USD $6.00 per unit.

06:49

ATV Acorn Intl announces CFO Gordon Wang will step down, effective April 1, 2010 (6.46 ) -Update-

06:47

CTRN Citi Trends beats by $0.03, reports revs in-line; guides FY11 EPS above consensus (29.94 )

Reports Q4 (Jan) earnings of $0.78 per share, $0.03 better than the First Call consensus of $0.75; revenues rose 15.8% year/year to $169.8 mln vs the $169.4 mln consensus. Co issues upside guidance for FY11, sees EPS of $1.60-1.65 vs. $1.59 consensus. This guidance includes an anticipated 2010 comparable store sales increase of approximately 3% to 4%. For the year, the co expects to increase selling square footage by at least 15%. Fiscal 2010 is off to a strong start with comparable store sales increasing more than 10% during the first five-plus weeks of the year in addition to a 14% increase during the same period of time last year. The Company attributes the strong sales thus far in the first quarter to be primarily a result of our customers receiving their tax refunds later this year. Additionally, and importantly, our spring merchandise assortment has resonated well with our customers. Comparable store sales increased 1.2% in the fourth quarter.

06:45

CRU Crude Carriers prices 13.5 mln share IPO at $19.00 per share, at the low end of the $19-21 expected range

06:38

S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +2.00.

06:38

Asian Markets

Nikkei...10751.26...+86.30...+0.80%. Hang Seng...21209.74...-18.50...-0.10%.

06:38

European Markets

FTSE...5640.04...+22.80...+0.40%. DAX...5970.38...+41.60...+0.70%.

06:32

HIBB Hibbett Sporting beats by $0.09, beats on revs; guides FY11 EPS in-line (24.71 )

Reports Q4 (Jan) earnings of $0.40 per share, $0.09 better than the First Call consensus of $0.31; revenues rose 12.8% year/year to $166.8 mln vs the $155.1 mln consensus. Co issues in-line guidance for FY11, sees EPS of $1.12-1.30 vs. $1.18 consensus, with comps up 1-4%. Q4 comparable store sales increased 9.6%. "We are pleased with the strong comparable stores' sales performance delivered by all merchandise categories during the quarter. Approximately one-third of this increase can be attributed to a strong demand for licensed products due to both the University of Alabama and the New Orleans Saints successful football seasons and resulting championships. We are encouraged that the positive sales trend has accelerated into the first quarter of Fiscal 2011."

06:02

YUII Yuhe International confirms auditor resignation, investor conference call (9.82 )

Co announces that Grant Thornton resigned as auditor on March 5, 2010 and that Child, Van Wagoner & Bradshaw, PLLC was appointed effective March 9, 2010. Yuhe will host a special conference call to discuss the change in independent auditors on Friday, March 12, 2010 at 4:00PM EST.

06:02

BOFL Bancshares Of Florida records deferred tax asset valuation allowance and revises fourth quarter and year-end 2009 financial results (1.30 )

Co announces it has recorded a $38.8 mln valuation allowance on its deferred tax assets for the quarter ended December 31, 2009. Consequently, the carrying value of the Company's deferred tax asset has decreased by approximately the same amount. As a result of the valuation allowance, income tax expense was $26.8 mln in the fourth quarter of 2009, compared to the previously reported tax benefit of $12.0 mln. Income tax expense was $10.8 mln for the year ended December 31, 2009, compared to the previously reported tax benefit of $28.0 mln. The net loss available to common shareholders for the fourth quarter of 2009 was $58.6 mln, or $4.58 per diluted share, as opposed to the previously reported $19.8 mln, or $1.55 per diluted share. The net loss for the year ended December 31, 2009 was to $147.6 mln, or $11.54 per diluted share, as opposed to the previously reported $108.8 mln, or $8.51 per diluted share. "Following an additional review of our deferred tax asset, we determined that a valuation allowance was necessary given our expectations for loan loss provisions, loan workout expenses, and net charge-offs in 2010,

01:55

GMXR GMX Resources beats by $0.11, beats on revs; announces restatement of FY08 earnings (10.29 )

Reports Q4 (Dec) earnings of $0.20 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.09; revenues rose 6.1% year/year to $25.6 mln vs the $25 mln consensus. FY09 financial results reflect lower overall oil and natural gas prices, offset in part by a small production growth. Though fewer drilling rigs were used, and the CAPEX was much lower than in 2008, GMXR was able to increase production in 2009 by 5% to 13.6 Bcfe as compared to production of 12.9 Bcfe in 2008. FY10 Budget and Guidance Update: GMXR's 2010 CAPEX budget is forecasted at $175 mln, the substantial majority of which will be used to drill approx 22 wells of which 20 will be H/B Hz wells and 2 will be CVS Hz wells. The co is negotiating with third parties on participation, farm-ins and acreage exchange agreements. Execution of these agreements throughout the year could allow us to reduce our CAPEX further. Our YE2010 production guidance is 17.5 Bcfe, a 30% increase over YE2009. Forecast production for Q1 2010 is estimated between 3.2 Bcfe and 3.3 Bcfe. 1Q10 will see some increase from deployment of a second rig and 2Q10 will see all three H/B Hz rigs deployed and growing production. FY08 restatement: GMXR is correcting a non-cash charge for the method used to record its previous full cost pool impairment charges, other impairment charges and related deferred income taxes that adjusts the co's earnings under GAAP for the year ended 2008 and for the first three quarters of 2009. In addition, the co has adjusted its previously reported GAAP diluted loss per share for such periods to remove the effects of dilutive securities in calculating diluted loss per share. As a result of these adjustments, the restated net loss for the year ended December 31, 2008 was $124.6 million as compared to the originally reported $81.7 million (net loss of $83.0 as adjusted for the retrospective adoption of a change in accounting for the 5.00% Convertible Notes). The prior errors were determined during the preparation and independent audit of the co's December 31, 2009 financial statements. Based on the errors in the 2008 year-end and 2009 quarterly financial statements, the Audit Committee concluded on March 10, 2010, that such financial statements should no longer be relied upon. upon. GMXR will reflect all of the corrections in its forth coming Form 10-K for the year ended December 31, 2009 to be filed with the SEC on or about March 16, 2009.

18:58

MDT Medtronic announces public offering of senior notes (44.34 -0.29)

Co announced a registered offering of $1.25 bln of its 3.0 percent Senior Notes due 2015, $1.25 bln of its 4.45 percent Senior Notes due 2020 and $500 mln of its 5.55% Senior Notes due 2040. MDT intends to use the net proceeds for working capital and general corporate purposes, which may include the repayment of its indebtedness.

18:36

DRL Doral Financial extends preferred exchange offers (4.10 +0.17)

Co announced it has extended the expiration date until 11:59 p.m., New York City time, on March 19th, 2010 for its offers to exchange up to 16,500,000 shares of its common stock for issued and outstanding shares of its 7.00% Noncumulative Monthly Income Preferred Stock, Series A ("Series A Preferred Stock"), 8.35% Noncumulative Monthly Income Preferred Stock, Series B ("Series B Preferred Stock"), 7.25% Noncumulative Monthly Income Preferred Stock, Series C ("Series C Preferred Stock"), and 4.75% Perpetual Cumulative Convertible Preferred Stock ("Convertible Preferred Stock" and together the "Preferred Stock")

18:33

AKRX Akorn enters into an agreement to sell common stock and warrants; co agreed to sell 1.8 mln shares at $1.36 (1.59 -0.05)

Co announced that it has entered into an agreement to issue and sell to Serum Institute of India Ltd. ("Serum") 1,838,235 shares of the Co's common stock at $1.36 per share or a 15% discount to the market closing price on March 5, 2010 of $1.60 per share, resulting in aggregate proceeds of $2,500,000. The Co also agreed to issue to Serum a warrant to purchase ~1,404,494 additional shares of the Co's common stock for cash at an exercise price of $1.78 per share, which would result in an additional aggregate proceeds of $2,500,000. The warrant is exercisable beginning on the fifth consecutive trading day that the closing price of the Co's common stock is at least $2.22 per share. The warrant expires 30 days after it becomes exercisable or on March 10, 2013, whichever comes first. The shares issued to Serum are subject to registration rights.

18:27

Other potash plays spike notably on POT's raised guidance; AGU popped 3.1% to $68.8 (Co had prior news as well), MOS popped 2.9% to $61.66 and IPI popped 2% to $29.00

Agriculture ETF MOO popped 2% to $45.62.

18:25

POT spikes 5.2% to $123 after co raises Q1 guidance

18:24

POT Potash raises Q1 guidance well above consensus (116.93 -1.332)

Co raises Q1 EPS guidance to $1.30-1.50 vs. $0.94 consensus, up from $0.70-1.00. The upward revision reflects a sharp rebound in potash demand that is expected to drive a record quarter for North American sales volumes and strong offshore shipments, as well as higher-than-expected margins in nitrogen and phosphate. Any revisions to annual guidance will be addressed in our first-quarter news release issued on April 29, 2010. Co said, "Strong farmer returns, a depleted distributor pipeline and the agronomic need to replace soil nutrients have kick-started a potash rebound from 2009 lows. While we know that growth does not follow a straight upward line, we believe the increase in potash sales volumes this quarter represents the beginning of a return to long-term growth in demand."

18:23

POT raises Q1 EPS guidance to $1.30-1.50 vs. $0.94 consensus, up from $0.70-1.00

18:22

POT raises Q1 EPS guidance

18:21

MITI Micromet announces pricing of public offering of 10 mln shares of common stock at $7 (7.54 -0.49)

Co announced the pricing of an underwritten public offering of 10 million shares of common stock at a public offering price of $7.00 per share. The co has granted the underwriters a 30-day option to purchase an additional 1.5 million shares of common stock from the co. All of the shares in the offering are being sold by Micromet. The closing of the offering is expected to take place on March 17, 2010, subject to the satisfaction of customary closing conditions. The Company expects to receive net proceeds from the offering, after underwriting discount and offering expenses payable by the co, of ~$65.5 mln (prior to any exercise of the Underwriters' option to purchase additional shares of common stock). The co plans to use the net proceeds from the financing primarily for general corporate purposes, which may include research and development, capital expenditures, working capital and general and administrative expenses.

18:19

AGU Agrium to terminate offer to acquire CF Industries (66.78 -1.37)

Co announced that it will no longer pursue an acquisition of CF Industries Holdings Inc. ( CF) or the election of its nominees to the CF board of directors and will allow its offer to expire at 12:00 midnight, New York City time, on March 22, 2010.

18:17

KEG Key Energy Services provides February activity data; rig hours up 1% (10.75 -0.13)

Co announced its February 2010 consolidated rig hours, which increased 1% and trucking hours, which decreased 5% over the previous month, respectively. Total rig hours were 154,268 vs 153,852 from the prior year's month.

18:14

NOVL Novell: Elliott Corrects Bloomberg Story; NOVL "not for sale" (5.80 -0.01)

Elliott Associates, L..P. (together with funds under common management), issued the following statement in response to an erroneous and inaccurate story published by Bloomberg today regarding the firm's offer to purchase Novell, Inc. (NOVL), for $5.75 per share in cash. "The story that Bloomberg ran today was inaccurate," the firm said. "Elliott has made no statement with respect to its intent regarding NOVL. Elliott wants to own the company. Elliott has no plans to sell any business units and to report anything else would be erroneous."

18:09

Futures are higher after hours with S&P 500 futures 0.36 points above fair value of 1145.54 and Nasdaq 100 futures 0.90 points above fair value of 1921.85

17:59

MMLP Martin Midstream Partners L.P. receives favorable private letter ruling from Internal Revenue Service on marine time charters (31.50 +0.12)

Co announced it has received a favorable ruling from the United States Internal Revenue Service (IRS) regarding the tax characterization of income derived from its marine time charter agreements as qualifying transportation income. On January 29, 2010, MMLP announced that it was seeking such a ruling after having become aware of a specific decision by the United States Court of Appeals for the Fifth Circuit in which gross income derived by another entity from its time charters was deemed to be rental income, rather than transportation income, and thus created some uncertainty as to whether the Partnership will continue to be classified as a partnership for U.S. federal income tax purposes.

17:57

SLG SL Green Realty prices $250 mln of 7.75% senior notes due 2020 (57.37 +0.26)

Co announced that Reckson Operating Partnership, L.P. ("Reckson"), a wholly-owned subsidiary of the Co's operating partnership, SL Green Operating Partnership, L.P. ("SL Green OP"), and SL Green OP and the Co, as co-obligors, priced $250 mln aggregate principal amount of 7.75% senior unsecured notes due March 15, 2020 (the "Notes"). Net proceeds from the sale of the Notes, after underwriting discounts and commissions and the Co's estimated fees and expenses, is expected to be ~$246.4 million. The Co expects the offering to close on March 16, 2010, subject to customary closing conditions.

17:39

CNS Cohen & Steers raises Q1 dividend 100% sequentially to $0.10 (23.36 +0.15)

17:37

PLD ProLogis files to sell $400 mln in convertible senior notes, as filed in a 424B5 (13.79 -0.01)

17:34

BCR C.R. Bard: FDA issues warning on counterfeit surgical mesh (82.76 -0.47)

BCR announced that the U.S. Food and Drug Administration today warned health care providers and consumers about counterfeit surgical mesh being distributed in the United States under the C. R. Bard/Davol brand name. Surgical mesh products are used to reinforce soft tissue where weakness exists. The warning is of particular significance to health care professionals and their patients with surgical mesh implants as well as hospitals and surgical centers, operating room medical professionals and staff, and purchasing and risk managers.

17:31

BAX Baxter presents results from Phase III Study; The Phase III clinical study found a 78% overall protection rate against culture-confirmed influenza; Immunogenicity results met all of the requirements (58.16 -0.32)

BAX, in conjunction with DynPort Vaccine Company LLC (DVC), a CSC Co (CSC), presented Phase III study data measuring the clinical efficacy for PREFLUCEL, a trivalent seasonal influenza candidate vaccine. PREFLUCEL is made using Baxter's Vero cell culture platform and does not contain an adjuvant or preservatives. The data were presented at the International Congress on Infectious Disease (ICID) in Miami, Florida. The Phase III clinical study found a 78% overall protection rate against culture-confirmed influenza from influenza strains that matched those in the vaccine and a 71% rate of prevention of influenza from all circulating strains. The study was conducted during the 2008/2009 influenza season in the United States in more than 7,000 healthy clinical trial participants ages 18-49. The study also assessed the immunogenicity of PREFLUCEL by determining the rates of seroprotection and seroconversion, as well as geometric mean titer increases, in vaccinated study participants. Immunogenicity results met all of the requirements for each of these criteria set forth by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP).

17:23

GG Goldcorp reports EPS in-line, beats on revs (40.02 +0.57)

Reports Q4 (Dec) earnings of $0.25 per share, excluding non-recurring items, in-line with the First Call consensus of $0.25; revenues rose 27.8% year/year to $778.3 mln vs the $732.4 mln consensus. Co reported gold production of 601,300 ounces at a total cash cost of $289 per ounce for the quarter ended December 31, 2009.

17:18

PLL Pall Corp misses by $0.05, misses on revs; guides FY10 EPS below consensus (40.84 -0.20)

Reports Q2 (Jan) earnings of $0.42 per share, excluding non-recurring items, $0.05 worse than the First Call consensus of $0.47; revenues rose 3.1% year/year to $560.4 mln vs the $589 mln consensus. Co lowers guidance for FY10, sees EPS to $1.95-2.05, vs. $2.07 consensus, down from $2.02-2.19. The co's prior EPS guidance for FY10 forecast an earlier and stronger recovery for the Industrial markets and a benefit from foreign currency translation of $0.17. Applying an estimated benefit from foreign currency translation of $0.09 based on current exchange rates, the coretained the low end of its guidance at $1.95 and reduced the high end to $2.05 (excluding Discrete Items)... Co said, "In Pall Industrial, Energy, Water & Process Technologies and Aerospace & Transportation saw a sales decline in the quarter. Microelectronics came back solidly with a 15% sales increase (in local currency). PLL's results have impeded growth in the first half of the year. Orders in many key submarkets have now started to rebound and we continue to expect Industrial sales will grow in the second half of this fiscal year. Orders are also building in the capital expenditure sensitive Energy, Water & Process Technologies markets. We are looking to fiscal 2011 for recovery in Aerospace & Transportation."

17:08

PKD Parker Drilling Co announces sale of 9 1/8% senior notes due 2018 (5.48 -0.02)

Co announced that it has agreed to sell 9 1/8% senior notes due 2018 in a previously announced private offering resulting in gross proceeds of $300 mln. The senior notes will bear interest at a rate of 9 1/8% per annum and will mature on April 1, 2018. The Co intends to use the net proceeds of the offering of the senior notes to fund a cash tender offer and consent solicitation for all of the $225.0 million outstanding principal amount of the Co's 9 5/8% senior notes due 2013 and for general corporate purposes, which may include the redemption of any of the Co's 9 5/8% senior notes due 2013 not tendered in the tender offer and consent solicitation and the repayment of up to $42.0 mln of borrowings under its revolving credit facility.

17:05

IBOC International Banc announces extension of stock repurchase program and litigation matter (22.14 +0.07)

Co announced the extension of its stock repurchase program. On April 9, 2009, the Board authorized the repurchase of up to $40 million of common stock within the next twelve months. On March 9, 2010, the Board again authorized the repurchase of up to $40 million of its common stock during the twelve month period commencing on April 9, 2010, which repurchase cap the Board is inclined to increase over time... On March 5, 2010, judgment was entered on a jury verdict rendered against co in a jury trial that commenced on February 8, 2010. The dispute related to certain tax matters that were inherited in its 2004 acquisition of Local Financial Corporation ("LFIN"). The dispute involves claims by the former controlling shareholders of LFIN related to approximately $14 million of tax refunds received by IBC based on deductions taken in 2003 by LFIN in connection with losses on loans acquired from a failed thrift and a dispute LFIN had with the FDIC regarding the tax benefits related to the failed thrift acquisition which originated in 1988. Other than the tax refunds that are in dispute, IBC does not have any other disputes regarding tax refunds received by IBC in connection with the LFIN acquisition. Co is currently reviewing the judgment, its implications and IBC's intention to appeal as well as take other paths of action to mitigate the impact of the judgment. IBC is disappointed with the judgment but believes it has a number of valid grounds for appeal which it intends to pursue. Management is currently analyzing the amount to be reserved in connection with this dispute. At this time, management believes the reserve addition related to this matter will be ~$21.8 million based on management's judgment of IBC's current exposure.

17:05

AZN AstraZeneca comments on FDA Joint Advisory Committee Meeting on post-marketing safety studies for the use of LABAs in asthma (46.99 -0.39) -Update-

Co announced that on March 10-11, 2010, the Joint Advisory Committees of the U.S. Food and Drug Administration (FDA) -- including the Pulmonary-Allergy Drugs and the Drug Safety and Risk Management Advisory Committees -- discussed the design of post-marketing safety studies for long-acting beta-agonist (LABA)-containing products in the U.S., including SYMBICORT (budesonide/formoterol fumarate dihydrate). "As we've witnessed over the past two days, there are many challenges in designing and executing a relevant, feasible and ethical post-marketing safety study that answers FDA's question regarding LABA-containing products," said Howard Hutchinson, M.D., Chief Medical Officer of AstraZeneca. "AstraZeneca (AZN) is confident in the positive benefit-risk profile of SYMBICORT in asthma as demonstrated by extensive clinical data and patient experience, and supports ongoing scientific discussion to address any outstanding questions regarding the use of combination LABA and inhaled corticosteroid products for the treatment of asthma. We look forward to working with the FDA to execute a study design that is both scientifically robust and offers a pragmatic approach to answer critical questions regarding the appropriate use of LABAs." The FDA frequently convenes advisory committee meetings to obtain independent expert guidance and recommendations on clinical matters. While the FDA is not required to follow this guidance, the agency usually takes the advice into consideration when rendering decisions on public health matters.

17:03

PFE Pfizer discontinues a Phase 3 study Of figitumumab in previously treated patients with advanced non-small cell lung cancer (17.29 +0.14) -Update-

Co announced today the discontinuation of A4021018 (also known as ADVIGO 1018), a Phase 3 trial examining the effects of investigational compound figitumumab (CP-751,871) in combination with erlotinib as a second/third-line treatment in patients with previously treated advanced non-adenocarcinoma non-small cell lung cancer. An independent Data Safety Monitoring Committee recommended A4021018 be stopped after concluding that the addition of figitumumab to erlotinib is unlikely to demonstrate a statistically significant improvement in the primary endpoint of overall survival compared to erlotinib alone in the study population.

17:02

TYPE Monotype Imaging confirms distribution by major shareholder (9.43 +0.17)

Co announced that it was informed today by TA Associates, Inc. that funds managed by TA have made distributions to their partners of two million shares of Monotype Imaging common stock. TA is in the process of completing Form 4 filings in connection with this distribution.

17:02

IPCI Intellipharmaceutics Intl announces settlement for its generic version of Focalin XR (1.52 -0.02)

Co announced that Novartis Pharmaceuticals (NVS) and Celgene (CELG) have settled their patent suit in the U.S. District Court for the District of New Jersey, and Elan Pharma (ELN) has settled its patent suit in the U.S. District Court for the District of Delaware, with Intellipharmaceutics, a wholly-owned subsidiary of Intellipharmaceutics International, and its licensee Par Pharmaceutical (PRX) over a generic version of the Attention Deficit Hyperactivity Disorder drug Focalin XR (dexmethylphenidate hydrochloride). The terms of the settlements are confidential and remain subject to regulatory and court approval.

17:01

PFE Pfizer: Two Phase 3 trials Of Sunitinib with commonly used Chemotherapies In advanced breast Cancer did not meet the primary endpoint (17.21 +0.06)

Co announced that two Phase 3 studies of Sutent (sunitinib malate) in advanced breast cancer did not meet their primary endpoints. The SUN 1064 Phase 3 study of sunitinib in combination with docetaxel for the first-line treatment of patients with advanced HER-2 negative breast cancer did not show a statistically significant improvement in progression-free survival compared with docetaxel alone. In addition, the SUN 1099 Phase 3 study of sunitinib plus capecitabine, in previously-treated advanced breast cancer patients, did not show a statistically significant improvement in progression-free survival compared with capecitabine alone.

17:00

FLR Fluor Team receives final notice to proceed from NTTA on Texas SH 161 extension (45.86 +0.58)

Co announced that Prairie Link Constructors, a Fluor-led joint venture with Balfour Beatty, received final notice to proceed from the North Texas Tollway Authority for the State Highway 161 Tollway project in the greater Dallas/Fort Worth region. The contract value is $416 mln. FLR will book the project into backlog in Q1 of 2010.

16:57

SEAC SeaChange misses by $0.05, misses on revs; guides Q1 EPS below consensus, revs in-line; guides FY11 revs in-line (7.66 +0.12)

Reports Q4 (Jan) GAAP $0.00, $0.05 worse than the First Call consensus of $0.05; revenues fell 1.9% year/year to $53 mln vs the $53.8 mln consensus. Co issues mixed guidance for Q1, sees GAAP EPS of $0.00, excluding estimated severance charges of $1.5-1.8 mln, vs. $0.05 consensus; sees Q1 revs of $52-54 mln vs. $53.62 mln consensus. Co issues in-line guidance for FY11, sees FY11 revs of $225-235 mln vs. $228.20 mln consensus.

16:53

KOG Kodiak Oil & Gas misses by $0.01, misses on revs (2.84 0.00)

Reports Q4 (Dec) net of breakeven, $0.01 worse than the First Call consensus of $0.01; revenues rose 292.6% year/year to $4.8 mln vs the $5.6 mln consensus. Kodiak's year-end 2009 estimated total proved reserves were approximately 4.5 million barrels of oil equivalent (MMBoe), or 26.7 billion cubic feet of natural gas equivalents (Bcfe). This compares to 0.5 MMBoe, or 3.3 Bcfe in 2008. The 2009 total, a 709% increase on an equivalent basis from the 2008 estimated quantities, is comprised of 3.8 million barrels of crude oil and 3.8 Bcf of natural gas.

16:52

PNM PNM Resources reaffirms 2010 EPS guidance in-line (13.22 +0.23)

Co reaffirms 2010 EPS at $0.60-0.72 vs. $0.68 First Call consensus. Co's management will meet with energy industry analysts and investors this week during the 2010 Morgan Stanley Utilities Conference in New York City. During the meetings, management expects to affirm the company's 2010 given in today's press release. Co also reaffirms 2010 EBITDA (earnings before interest, taxes, depreciation and amortization) guidance ranges for First Choice Power of $25-35 mln and for Optim Energy of $60-70 mln, which represents 100% of Optim Energy's estimated EBITDA. PNM Resources owns a 50% interest of Optim Energy.

16:49

PNM reaffirms 2010 EPS at $0.60-0.72 vs. $0.68 First Call consensus

16:48

GNK Genco Shipping & Trading Limited announces plan to extend time charter for supramax vessel (21.96 -0.10)

Co announced that it has reached an agreement to extend the time charter for the Genco Hunter, a 2007-built Supramax vessel, with Pacific Basin Chartering Ltd. for ~11.0 to 13.5 months at a rate of $21,750 per day, less a 5% third-party brokerage commission. The time charter is expected to commence following the expiration of the vessel's current time charter on or about April 1, 2010 and is subject to the completion of definitive documentation. Currently, GNK has ~61% of its fleet's estimated available days secured on contracts for the remainder of 2010.

16:46

HEV Ener1 reports Q4 revs and 2009 results (4.24 -0.01)

Reports Q4 (Jun) revenues rose 35.8% year/year to $11.0 mln vs the $10.3 mln consensus. Reports 2009 full year earnings ($0.45), $0.03 worse than the consensus of ($0.42); revs grew 408% to $34.8 mln vs. $34.2 consensus.

16:45

AAI Air Tran Holdings and Safeair settle copyright dispute terms of the settlement are confidential and will not be released (5.37 0.00)

16:30

ART Artio Global Investors announces February month-end assets under management (23.72 -0.18)

The co announces preliminary month-end assets under management of $52.9 billion as of February 28, 2010, compared to $53.5 billion as of January 31, 2010.

16:30

FMD First Marblehead: Office of Thrift Supervision terminates enforcement action against FMD (3.00 +0.05)

Co announced that it has been notified by the Office of Thrift Supervision (OTS) that, effective March 10, 2010, the OTS has terminated the Supervisory Agreement between First Marblehead and the OTS, which was made effective on July 2, 2009. In connection with this termination, FMDs Board of Directors adopted resolutions requiring FMD to continue to support the implementation by its subsidiary bank, Union Federal Savings Bank (Union Federal), of its business plan, so long as Union Federal is owned or controlled by FMD, and to notify the OTS in advance of any distributions to First Marblehead shareholders in excess of $1 mln per fiscal quarter and any incurrence or guarantee of debt in excess of $5 mln. As previously announced, FMD is examining strategic alternatives for Union Federal, including a potential sale.

16:27

ICO International Coal prices offering of $200 mln 9.125% senior secured second-priority notes due 2018 (4.47 0.00) -Update-

16:25

ATK Alliant Tech will realign its business structure, effective April 1, into four operating groups: Aerospace Systems, Armament Systems, Missile Products, and Security and Sporting. (81.49 -0.99)

16:24

NEOP Neoprobe Corporation announces successful meeting on Lymphoseek Phase 3 results (2.05 +0.03)

Co announced that it met with the FDA to review the clinical trial results of a Phase 3 investigational new drug, Lymphoseek. The Phase 3 clinical study (NEO3-05) was conducted in subjects diagnosed with either breast cancer or melanoma. FDA encouraged Neoprobe to request a series of pre-NDA meetings in the coming months to review the components of the NDA prior to its formal submission. The protocol compliant clinical sites that participated in the NEO3-05 study contributed 136 Intent-To-Treat (ITT) subjects who provided 215 lymph nodes that contained the vital blue dye. 210 of the vital blue dye positive lymph nodes contained Lymphoseek for an overall concordance rate of 98% achieving a statistical p-value of 0.0001. In addition to the nodes identified by vital blue dye and Lymphoseek, Lymphoseek was able to identify 85 additional lymph nodes that did not contain the vital blue dye, and 18% of these nodes were found by pathology to contain cancer. There were no significant safety events related to Lymphoseek. The FDA indicated that the clinical data would be supportive of a NDA submission for Lymphoseek.

16:23

HRLY Herley Industries beats by $0.08 (14.50 +0.28)

Reports Q2 (Jan) earnings of $0.27 per share, $0.08 better than the First Call dual-analyst est of $0.19; revenues rose 16.5% to $46.6 mln (No consensus). Co said, "Our backlog remains strong and our bookings are on plan. We anticipate a number of large orders in the second half of the fiscal year which are expected to fuel our continued improved performance."

16:22

GST Gastar Exploration postpones earnings release until Mar 15, previously scheduled for Mar 12 (5.50 +0.35)

The release is being delayed to provide additional time to determine the proper accounting treatment regarding foreign exchange transactions.

16:18

POWR PowerSecure beats by $0.05, beats on revs (8.35 +0.35)

Reports Q4 (Dec) earnings of $0.09 per share, $0.05 better than the First Call consensus of $0.04; revenues rose 13.6% year/year to $30 mln vs the $28.4 mln consensus. Revenue Backlog to be recognized after December 31, 2009: $120 mln.

16:17

XOMA XOMA Limited reports Q4 results (0.56 +0.01)

XOMA Limited reports Q4 earnings of $0.01 vs ($0.03) First Call consensus; revs fell over 41% year/year $21.6 mln vs $15.16 mln First Call consensus. The company will not be providing guidance on revenues or cash receipts for 2010 so as to best manage its ongoing negotiations for XOMA 052 and technology licensing and in light of general economic and market conditions. The company expects that cash used in operating activities may range from $45 mln to cash neutral or positive.

16:17

CIT CIT Group closes $667 mln TALF-Eligible equipment lease securitization (37.03 +0.44)

Co announces it closed a $667 million equipment lease securitization. The Class A Notes issued constitute eligible collateral under the Federal Reserve Bank of New York's Term Asset-Backed Securities Loan Facility. CIT sold six classes of fixed rate notes in a private offering backed by a pool of equipment leases originated by CIT Vendor Finance. The weighted average fixed coupon is 3.31%, which represents a weighted average credit spread of 2.20% over benchmark swap rates for the six classes of notes. The securitization had a net advance rate of 89.5%. All but $50 million of the offering was sold to investors that did not use financing under the TALF program.

16:16

CMO Capstead Mortgage declares quarterly dividend of $0.50 vs. $0.54 previously (12.92 +0.07)

16:16

WPI Watson Pharm announces FDA approval of TRELSTAR 22.5 mg, a new twice-yearly formulation of TRELSTAR (40.98 +0.40)

16:15

DHT Double Hull Tankers names Board member Randee Day acting Chief Executive Officer (4.09 -0.01)

The co announces that Board member Randee Day has been named acting Chief Executive Officer of DHT Holdings, Inc. and DHT Maritime, Inc., effective April 1, 2010. Ms. Day will remain on the Board of Directors of both companies, but will not continue on the Audit, Nominating and Corporate Governance, and Compensation Committees. Ms. Day succeeds Ole Jacob Diesen, who will step down as Chief Executive Officer on March 31, 2010... This transition follows a comprehensive review of DHT's strategy by the Board and management beginning in 2009. The Board and Mr. Diesen concluded it would be in DHT's best interests to turn to new leadership as the Company pursues a more growth-oriented strategy going forward. Mr. Diesen will continue to work with DHT as a consultant for the next six months. The DHT Board of Directors will conduct a search over the next few months for a permanent CEO and will evaluate both internal and external candidates. Ms. Day has indicated she would be a candidate for this position.

16:15

OPTR Optimer Pharma beats by $0.06 (13.57 -0.08)

Reports Q4 (Dec) loss of $0.28 per share, $0.06 better than the First Call consensus of ($0.34). "Recently, we announced robust results from our second Phase 3 trial of fidaxomicin confirming the positive results of our first Phase 3 trial showing that fidaxomicin has the potential to be a first-in-class drug for the treatment of Clostridium difficile infection. 2010 will be a significant year for Optimer, as we focus on completing fidaxomicin and Pruvel regulatory filings, publish existing data and continue to prepare for the commercialization of these product candidates." Optimer expects to use cash, cash equivalents and short-term investments of approximately $50 million for its operating activities in 2010, based on its current operating plans.

16:13

ARO Aeropostale beats by $0.04, reports revs in-line; guides Q1 EPS above consensus; guides FY11 EPS above consensus (27.10 +0.68)

Reports Q4 (Jan) earnings of $0.99 per share, $0.04 better than the First Call consensus of $0.95; revenues rose 16.1% year/year to $801.2 mln vs the $797.7 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.39-0.40 vs. $0.37 consensus. Co issues upside guidance for FY11, sees EPS growth of ~15%, which equates to ~$2.61 vs. $2.48 consensus.

16:12

LDK LDK Solar sees FY10 revs $1.35-1.45 bln vs $1.37 bln First Call consensus; sees Q4 revs of $300-310 mln vs $301.11 mln First Call consensus, Q4 rev guidance was $280-310 mln previously (6.95 -0.02) -Update-

For the fourth quarter of 2009, LDK Solar revised its expected ranges for revenue, wafer shipments and module shipments. LDK Solar currently expects revenue in the range of $300 to $310 million ($301.1 mln First Call Consensus) and wafer shipments between 330 and 340 MW and module shipments between 20 and 25 MW. The company previously forecasted revenue in the range of $280 to $310 million and wafer shipments between 320 and 340 MW and module shipments between 20 and 30 MW. Additionally, LDK Solar provided guidance for fiscal year 2010. Based upon preliminary data and current expectations, the company's outlook for the fiscal year 2010 is as follows: Revenue to be in the range of $1.35 billion to $1.45 billion ($1.37 bln First Call Consensus); Wafer shipments in the range of 1.3 GW to 1.4 GW; Module shipments between 300 MW to 400 MW; Gross margin between 15% and 20%; and Production of between 4,500 and 5,500 MT of polysilicon in 2010.

16:12

WNC Wabash Natl announced that they have hired 100 temporary associates with plans to hire 90 more during the quarter (5.41 -0.08)

16:08

CSCX Cardiac Science Corp reports Q4 results; issues downside revenue guidance for 1Q10 and FY10 (2.15 -0.04)

Cardiac Science Corp report Q4 earnings of ($0.33) vs ($0.19) First Call consensus; revs fell 17% year/year to $42.2 mln vs $39.43 mln First Call consensus. Co issues downside revenue guidance for 1Q10; sees revenues in a range between $32 and $35 mln vs First Call consensus of $38.10 mln. As previously announced, first quarter revenues have been adversely impacted by recently announced voluntary corrective actions relating to the Company's AED products. Based on this range of revenue, the Company expects to incur a net loss for the first quarter in a range between $8.0 and $9.0 million. Adjusted EBITDA for the first quarter of 2010 is expected to be in a range between negative $5.5 and negative $6.5 million. Co also issues downside revenue guidance for FY10; sees revenues in a range between $150 and $170 mln vs First Call consensus of $171.40 mln.

16:08

AIRM Air Methods misses by $0.05, misses on revs (27.84 +0.14)

Reports Q4 (Dec) earnings of $0.22 per share, includes items, $0.05 worse than the First Call consensus of $0.27; revenues rose 1.1% year/year to $120.2 mln vs the $121.6 mln consensus. As previously announced, current-year Q4 results were negatively impacted by higher weather cancellations of patient transports associated with very severe weather experienced throughout the country. Co said, "The strong growth in net earnings achieved in 2009 reflects benefits from continued fleet rejuvenation and conversions from twin-engine to single-engine aircraft. In addition, decreased fuel prices, combined with improved net reimbursement per community-based transport, also contributed to overall earnings growth. While this winter has been very severe to-date, we would anticipate a recovery in flight volume as weather returns to more moderate levels."

16:08

SHFL Shuffle Master misses by $0.01, misses on revs (8.93 +0.32)

Reports Q1 (Jan) earnings of $0.07 per share, $0.01 worse than the First Call consensus of $0.08; revenues rose 16.8% year/year to $40.3 mln vs the $43.4 mln consensus. "Our results this quarter reflect solid year-over-year growth in ETS leases, continued momentum of our progressive upgrade strategy, and real progress in our Ace to i-Deal shuffler conversion process... This, and the continued strong acceptance of our varied and improved product offerings in existing and new markets, are exciting as we enter the new year."

16:08

LTRE Learning Tree awarded FAC-P/PM training contract worth up to $60 mln by Department of Veterans Affairs (13.55 +0.44)

Co announced that the Department of Veterans Affairs (VA) has awarded Learning Tree an IDIQ contract for delivering FAC-P/PM training to VA employees nationwide. FAC-P/PM (Federal Acquisition Certification for Program and Project Managers) is a government-specific project and program management discipline that has been mandated throughout the U.S. Government by the Office of Federal Procurement Policy. The contract includes a base year and four option years, with a total value of up to $60 million. Learning Tree estimates revenues of between $10 and $15 million for the contract's base year. Training under this contract began February 22, 2010.

16:07

SWHC Smith & Wesson beats by $0.01, misses on revs; guides Q4 revs below consensus (4.73 +0.01)

Reports Q3 (Jan) earnings of $0.02 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.01; revenues rose 6.8% year/year to $89.4 mln vs the $92.6 mln consensus. Co issues downside guidance for Q4 (Apr), sees Q4 revs of $97-101 mln vs. $103.7 mln consensus.

16:07

RSYS RadiSys announces acquisition of privately held Pactolus Communications Software (8.83 0.00)

16:05

NXTM Nxstage Medical secures $15 mln revolving line of credit (10.50 +0.16)

16:04

ULTA Ulta Salon beats by $0.04, beats on revs; guides Q1 EPS above consensus, revs above consensus (21.54 +0.07)

Reports Q4 (Jan) earnings of $0.34 per share, $0.04 better than the First Call consensus of $0.30; revenues rose 16.1% year/year to $396.4 mln vs the $390 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.14-0.16 vs. $0.12 consensus; sees Q1 revs of $301-307 mln vs. $298.65 mln consensus.

16:04

<p>ZQK Quiksilver beats by $0.11, beats on revs (3.11 -0.27)

Reports Q1 (Jan) loss of $0.02 per share, excluding non-recurring items, $0.11 better than the First Call consensus of ($0.13); revenues fell 2.4% year/year to $432.7 mln vs the $412.8 mln consensus. The Company had approximately $148 million of availability under its credit lines in addition to approximately $150 million of unrestricted cash at the end of the first quarter

16:04

NSM National Semi beats by $0.04, beats on revs; guides Q4 revs above consensus (14.34 -0.49)

Reports Q3 (Feb) earnings of $0.22 per share, $0.04 better than the First Call consensus of $0.18; revenues rose 23.8% year/year to $362 mln vs the $348.6 mln consensus. Co issues upside guidance for Q4, sees Q4 revs of $375-390 mln vs. $360.89 mln consensus. Co reports Q3 gross margins of 67.3% vs 65.5% Street est. National's total company bookings increased 5 percent sequentially, as order rates increased from direct OEM customers as well as from distributors. Bookings exceeded billings in the quarter. Stronger product mix from higher sales into industrial markets drove gross margin improvement in the quarter. In addition, the company continued to improve its manufacturing cost performance.

16:02

NAVI NaviSite reports net loss per share of ($0.08) vs. ($0.08) First Call consensus; revenue decreased 1% y/y to $37.7 mln vs. $37.3 mln consensus (2.99 +0.00)

16:02

ZUMZ Zumiez beats by $0.02, reports revs in-line; guides Q1 EPS below consensus (20.25 +0.18)

Reports Q4 (Jan) earnings of $0.29 per share, $0.02 better than the First Call consensus of $0.27; revenues rose 5.5% year/year to $132.4 mln vs the $131.3 mln consensus. Co issues downside guidance for Q1, sees EPS of ($0.11)-($0.09) vs. ($0.01) consensus. This guidance is based on an anticipated comparable store sales increase in the mid to upper single digit range for the first quarter of fiscal 2010.

16:02

PTP Platinum Underwriters announces preliminary loss estimate from first quarter 2010 catastrophe events (35.59 -1.29)

Co announced its initial loss estimate from first quarter 2010 catastrophe events that have occurred to date of approximately $85 mln, net of reinstatement premiums, tax benefits, and retrocessional coverage.

16:01

CODI Compass Group subsidiary, Advanced Circuits, acquires Circuit Express (14.21 +0.16)

The co announces that its subsidiary, Advanced Circuits, has acquired Circuit Express (CEI) for a purchase price of $15.6 million. Based in Tempe, Arizona and founded in 1987, CEI focuses on quick-turn manufacturing of prototype and low-volume quantities of rigid printed circuit boards (PCBs), primarily for aerospace and defense related customers. While its standard production lead time is five days, CEI specializes in expedited delivery in as fast as 24 hours. The company's three facilities total 35,000 square feet, and are designed for the sole purpose of producing PCBs. For the year ended December 31, 2009, CEI reported revenue of approximately $16.4 million. The purchase price was funded largely in cash from CODI's balance sheet... expect this acquisition to be highly accretive to cash flows.

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