Briefing.com: Hourly In Play (R) – 22:00 ET
Jan 19, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 19-Jan-10 22:00 ET
18:03
SSRI Silver Standard CEO resigns (23.17 -0.01)
Co announced that Robert A. Quartermain has resigned as President and CEO of the Company effective January 19, 2010. The Board of Directors is conducting a search for Mr. Quartermain's successor. Pending the completion of the search, A.E. Michael Anglin will step in as interim President and CEO. Mr. Anglin has been a director of Silver Standard since 2008.
17:27
CACI CACI announces intent to acquire SystemWare; expected to be accretive to earnings in first 12 months; terms not disclosed (49.34 +0.81)
17:25
KMP Kinder Morgan Prtnrs files 1,287,287 share offering (65.10 +1.65) -Update-
17:22
ITMN InterMune announces proposed public offering of 5 mln shares of stock (14.81 +0.58)
Co announced that it plans to offer, subject to market and other conditions, 5,000,000 shares of its common stock in an underwritten public offering. The company expects to grant the underwriters a 30-day option to purchase up to an additional 750,000 shares of common stock in connection with the offering.
17:11
XIDE Exide Tech: Polypore signs new evergreen supply agreement with Exide (8.72 +0.32)
Polypore International, Inc. (PPO) announced a new evergreen supply agreement in which Polypore's Daramic business unit will supply the majority of Exide Technologies' (XIDE) lead-acid battery separators on a global basis. This multi-year agreement continues a long-standing relationship between the two companies that has lasted over 40 years. The agreement automatically renews on the contract anniversary date unless either party provides substantial advance notice of termination under the terms of the contract
17:11
GPK Graphic Packaging announced a price increase of $50 per ton on all grades of PaceSetter uncoated recycled board, effective February 18 (3.55 +0.09)
17:02
RMBS Rambus halted for trading -Update-
17:01
RMBS Rambus and Samsung sign comprehensive agreement; Samsung to invest $200 mln (21.13 +0.36) -Update-
Samsung Electronics and Rambus (RMBS) announce that they have reached agreement settling all claims between them and licensing Rambus' patent portfolio covering all Samsung semiconductor products including a perpetual fully paid-up license to certain current DRAM products. As part of the overall agreement, Samsung will invest $200 mln in Rambus stock. Other consideration to Rambus includes an initial payment of $200 mln and a quarterly payment of about $25 mlnor the next five years. In addition, Samsung and Rambus have signed a memorandum of understanding relating to a new generation of memory technologies which brings together Samsung's leadership in memory technologies with Rambus' innovations in high performance memory interfaces. The two companies will initially focus on graphics and mobile memory solutions and will further review a potential collaboration on server and high-speed NAND Flash memories. Stock is halted.
17:00
UIS Unisys unit won a new three-year IT outsourcing services contract (35.75 ) -Update-
Co announced that its Australian subsidiary has won a new three-year IT outsourcing services contract with the Queensland Department of Education and Training. Under the agreement, Unisys will continue providing IT outsourcing services to all Technical and Further Education (TAFE) institutes across the state. The contract value is estimated at ~AUD$41 million ($38 million) during the initial three-year term. Under the contract, Unisys will provide IT services for students, teachers and administrators at 90 campuses across 13 TAFE Queensland institutes and the Australian Agricultural College.
16:47
AMAG AMAG Pharma announces proposed offering of 3 mln shares of common stock (49.99 ) -Update-
16:44
ANW Aegean Marine Petrol announces proposed ~3.9 mln share public offering of common stock (32.45 +0.49)
16:43
SIRI Sirius XM Radio adds 257,000 net subscribers in the fourth quarter (0.67 unch)
The co announces that it ended the year with 18,772,758 subscribers, adding 257,028 net subscribers in the fourth quarter of 2009. "Based on preliminary financial data, we expect to report over $100 million of free cash flow for 2009, an extraordinary improvement over the pro forma negative free cash flow of $552 million that the company experienced in 2008," noted Mel Karmazin, Chief Executive Officer, SIRIUS XM. "This is the first year in our history that we have generated positive free cash flow for the entire year. Our fourth quarter subscriber results mark two consecutive quarters of net subscriber additions for SIRIUS XM and are the highest since the third quarter of 2008. Improvements in automotive sales, conversion rates and better than anticipated self-pay churn suggest that the outlook for the auto sector and the effects of the economy on our business are beginning to improve," Mr. Karmazin added.
16:41
CNK Cinemark announces the sale of shares by Madison Dearborn Capital Partners and Syufy Enterprises (15.07 +0.10)
The co announces that it is filing a prospectus supplement to its existing shelf registration statement with the SEC relating to an underwritten public offering by Madison Dearborn Capital Partners IV of 6,444,230 shares and Syufy Enterprises, LP of 1,055,770 shares of its common stock. Upon completion of the offering, Madison Dearborn Capital Partners IV, L.P. and Syufy Enterprises, LP will own approximately 39.2% and 6.4%, respectively, of Cinemark's common stock. Cinemark will not receive any proceeds from this sale of its common stock.
16:41
SCHW Charles Schwab files for a 26.3 mln share common stock offering (19.29 +0.29) -Update-
Company intends to use the net proceeds of the offering to support balance sheet growth, including expansion of the Company's deposit base and potential migration of certain client balances from money market funds into Schwab Bank
16:38
IDSA Industrial Services comments on its business plans and prospects for 2010 (9.77 +0.04)
Co commented on its business plans and prospects for 2010. "From the second quarter in 2009, we began showing record revenues and earnings and we're positioned to continue that success as the economy improves... We've made significant changes and investments in our business that position ISA to participate more robustly in higher margin segments of the metals recycling business... Our expansion into the stainless steel and other alloys segments in a significant way allows us to provide higher value to our customer base."
16:37
SCHW Charles Schwab misses by $0.01, reports revs in-line (19.29 +0.29)
Reports Q4 (Dec) earnings of $0.14 per share, $0.01 worse than the First Call consensus of $0.15; revenues fell 23.2% year/year to $986 mln vs the $993.5 mln consensus. Net new accounts for the qtr totaled approx 36,000, down 30% y/y. Total accounts reached 5.4 mln as of Dec. 31, 2009, up 3% y/y. Year to date, new households enrolled in SCHW's fee-based advice offerings equaled 37,000, up 61% from 2008. Balance sheet assets are $43.2 bln, up 70% y/y. Outstanding mortgage and home equity loans are $7.0 bln, up 19% y/y. First mortgage originations during the quarter equaled $960 mln. Total first mortgage originations for 2009 were up 37% y/y. Co states, "The broad equity indices have shown sustained improvement from their March 2009 lows and we have seen clear indications that clients are increasingly engaged with us in finding the right way forward in this shifting environment... Over the near term, however, the net interest revenue generated by this growing asset base has been severely impacted by continued declines in the short-term interest rate environment, even as the overnight Fed Funds rate has been at essentially zero since late 2008."
16:37
EC Ecopetrol announces approval of preliminary financing commitment on behalf of the U.S. export-import bank, valued at u.s. $1 billion (25.64 +0.23)
Co announces that the U.S. Export-Import Bank issued a Preliminary Commitment letter for the financing of American goods and services to be used in exploration and development activities, as well as improvement and expansion of existing facilities, up to a value of $1 billion. This preliminary approval is the first step toward obtaining final approval (Final Commitment), once Ecopetrol fulfills all requirements typical of this type of transaction. Financial terms have not yet been established.
16:33
FULT Fulton Fincl reports EPS in-line (9.54 +0.31)
Reports Q4 (Dec) earnings of $0.11 per share, in-line with the First Call consensus of $0.11. The $121.7 million increase in the Corporation's earnings for the fourth quarter of 2009 in comparison to the same period in 2008 was primarily due to a $90.0 million goodwill impairment charge recorded in the fourth quarter of 2008, a $20.0 million reduction in provision for loan losses, and a $21.9 million decrease in other-than-temporary impairment charges related to investment securities. Non-performing assets were $305.0 million, or 1.83 percent of total assets, at December 31, 2009, compared to $219.0 million, or 1.35 percent of total assets, at December 31, 2008 and $300.9 million, or 1.82 percent, at September 30, 2009. Annualized net charge-offs for the quarter ended December 31, 2009 were 0.97 percent of average total loans compared to 0.89 percent for the quarter ended December 31, 2008 and 0.81 percent for the quarter ended September 30, 2009. The provision for loan losses decreased $20.0 million, or 30.7 percent, for the fourth quarter of 2009 as compared to the same period in 2008, and was unchanged from the third quarter of 2009. Total deposits increased $1.5 billion, or 14.7 percent, to $12.1 billion at December 31, 2009 compared to $10.6 billion at December 31, 2008. The Corporation's net interest margin was 3.67 percent for the fourth quarter of 2009, 3.68 percent for the fourth quarter of 2008 and 3.55 percent for third quarter of 2009. Investment securities losses in the fourth quarter of 2009 were $1.9 million compared to $28.3 million in the fourth quarter of 2008 and $45,000 in the third quarter of 2009.
16:32
NFX Newfield Expl achieves record production in Woodford Shale (53.34 )
The co announces it had achieved record gross operated production of 323 MMcfe/d (184 MMcfe/d net) from the Company's Woodford Shale play in the Arkoma Basin of southeastern Oklahoma. Production in early 2010 is expected to continue to benefit from the ongoing completion of about 20 wells drilled in late 2009. The recent increase in production from the Woodford Shale is being driven by results from recent super extended lateral (SXL) completions. SXL wells are defined as those having completed lateral lengths greater than 5,000 feet. Recent wells include: Madison 1H-15W- the well had a lateral length of 9,983 feet and was completed with 20 fracture stimulation stages. The well had initial production of 13.5 MMcf/d with about 25% of the frac load recovered. Martin 1H-15E- the well had a lateral length of 9,405 feet and was completed with 19 fracture stimulation stages. The well had initial production of 13.5 MMcf/d with about 15% of the frac load recovered.
16:30
FSLR First Solar, PNM sign contract for 22 megawatts of utility scale power for New Mexico (123.94 ) -Update-
New Mexico's largest electric utility has signed a contract with FSLR to construct 22 megawatts AC of utility scale photovoltaic solar power plants in New Mexico.
16:22
AXU Alexco Resources announces equity financing (3.78 +0.07)
Co announces that it has filed a preliminary short form prospectus under the multi-jurisdictional disclosure system in connection with an overnight marketed public offering of the common shares of the Company in Canada and the United States.
16:16
ALDA Aldila to move its stock listing to OTCQX (3.93 -0.05) -Update-
Co announces its Board unanimously approved a plan to voluntarily delist its common stock from the NASDAQ Stock Market and to move its common stock listing to OTCQX U.S. Premier over-the-counter market, operated by Pink OTC Markets Inc. The Board of Directors also approved the appointment of B. Riley & Co as the Company's designated advisor for disclosure, a requirement of the OTCQX. The Company also intends to subsequently deregister its common stock with the SEC and suspend its reporting obligations under the Securities Exchange Act of 1934. The Company expects that its shares will continue to trade under the "ALDA" ticker symbol (OTCQX: ALDA). (Stock is halted)
16:15
DX Dynex Capital updates market on CMBS activity (9.09 +0.01)
The co announces that it has successfully resecuritized a portion of its commercial mortgage backed securities ("CMBS") portfolio. As announced in its November 23, 2009 press release, the Company acquired the rights to call up to approximately $182.5 million in CMBS from its purchase of a joint venture interest previously owned by a third party. The CMBS are collateralized by seasoned commercial mortgage loans originated by the Company from 1996 to 1998. In December 2009 the Company called $111.3 million in 'AAA'-rated CMBS bonds with a weighted average coupon of 7.97% and resecuritized the bonds as further discussed below. As a result of the resecuritization transaction, the Company has added higher yielding investments to its portfolio at a favorable net spread to its funding costs. The Company also announced that it has recently become eligible to borrow under the TALF program and is currently investigating opportunities to acquire additional investments in CMBS financed through TALF.
16:13
SUPX Supertex beats by $0.01, misses on revs (28.59 -0.97)
Reports Q3 (Dec) earnings of $0.15 per share, $0.01 better than the First Call consensus of $0.14; revenues fell 5.1% year/year to $16.7 mln vs the $17.2 mln consensus. Co states, "Our gross margin was 48%, slightly higher sequentially, but still lower than our long term goal, primarily due to lower net sales and lower capacity utilization in recent quarters compared to previous years. We recorded a tax benefit of $391,000 primarily due to the expiration of statute of limitations on an uncertain tax position, bringing our net profit to $1,974,000 or 12% of sales. Our year-to-date tax rate was 6% compared to 22% in the same period last year. Cash and short term investments grew by $2,512,000, primarily from operating and financing activities."
16:13
NRGY Inergy announces public offering of 4,500,000 common units (30.73 +0.80)
16:12
HLF Herbalife announces that Vasilios Frankos, M.S., Ph.D., will retire from the FDA in March and join the company as senior vice president, product compliance and safety (45.03 +0.48)
Co announces that Vasilios H. Frankos, M.S., Ph.D., will retire from the FDA in March and join the company as senior vice president, product compliance and safety, effective April 2010. Frankos is currently the director, division of dietary supplements programs, Center for Food Safety and Applied Nutrition, at the Food and Drug Administration. He will report to the company's General Counsel Brett Chapman.
16:12
ALDA Aldila, Inc. trading halted - news pending (3.93 -0.05)
16:11
IBM IBM beats by $0.12, reports revs above consensus; guides FY10 EPS to high end of prior range, above consensus (134.14 +2.36)
Reports Q4 (Dec) earnings of $3.59 per share, $0.12 better than the First Call consensus of $3.47; revenues rose 0.7% year/year to $27.2 bln vs the $26.96 bln consensus. Reports Q4 gross margins of 48.3% vs Street est of 48.4%. Co issues upside guidance for FY10, sees EPS of at least $11.00 vs. $10.88 consensus. In the Q3 report (10/15), the company reaffirmed its 2010 EPS guidance, stating that it was well ahead of pace for its 2010 roadmap of $10 to $11 per share... Global Business Services segment revenues decreased 3 percent to $4.6 billion; Revenues from the Systems and Technology segment totaled $5.2 billion for the quarter, down 4 percent; Revenues from the Software segment were $6.6 billion, an increase of 2 percent; Signings in Consulting and Systems Integration and in Integrated Technology Services were $7.4 billion, an increase of 1 percent... "IBM continued to benefit from our strategic transformation, offerings that our clients value in this economy, and our commitment to developing countries around the world.... In 2009, we invested in opportunities such as Smarter Planet solutions, cloud computing and advanced analytics. These new capabilities position IBM to grow as the economy recovers. The increased operational leverage we have established by creating a globally integrated enterprise will enable us to drive greater profits as revenue growth returns. We are confident about 2010 and our ability to achieve the high end of our long-term roadmap." The balance sheet remains strong, and the company is well positioned to take advantage of opportunities.
16:10
IBM After some initial fluctuations, IBM seems to be settling a bit and is now down about a $1.50 (134.14 ) -Update- -Technical-
Last trade at $132.70
16:10
CSX CSX Corp beats by $0.01, misses on revs (50.51 +0.47)
Reports Q4 (Dec) earnings of $0.77 per share, $0.01 better than the First Call consensus of $0.76. Revs fell 13% YoY to $2.30 bln vs the $2.39 bln consensus. This was driven by a 7% overall decline in volume (vs. -15% YoY in Q3 and -21% YoY in Q2) as growth in the intermodal and automotive sectors was more than offset by declines in coal and merchandise. In addition, lower fuel prices led to decreased fuel surcharge recovery. Despite these factors, core pricing remained strong, reflecting high service levels and the overall value of freight rail transportation. "The economy continued to show modest, sequential improvement in the quarter. CSX worked aggressively on gaining operating leverage and further strengthening the fundamentals of our business for the future." The company continued to improve its network efficiency and safety in 2009, while reducing full-year operating costs by 20 percent compared to 2008. As a result, CSX posted a record annual operating ratio of 74.7 percent.
16:07
CREE Cree beats by $0.08, beats on revs; guides Q3 EPS and revs well above consensus (54.21 +0.20)
Reports Q2 (Dec) earnings of $0.38 per share, excluding non-recurring items, $0.08 better than the First Call consensus of $0.30; revenues rose 35.1% year/year to $199.5 mln vs the $186.8 mln consensus. Co issues upside guidance for Q3 (Mar), sees EPS of $0.41-0.44, excluding non-recurring items, vs. $0.28 consensus; sees Q3 revs of $215-225 mln vs. $189.21 mln consensus. Q2 non-GAAP gross margin was 47.5% vs 43.9% consensus; it was 44.1% in SepQ and 38.9% in the year ago period; Cree's target is 40% plus or minus. Co says LED lighting adoption continues to gain momentum and its near term focus is on factory execution and capacity expansion.
16:04
CREE Cree trading almost 4 points higher following earnings (54.21 ) -Update- -Technical-
$57, $59, and $60 are technical levels to watch. Stock was down sharply on Friday ahead of earnings
16:02
AAV Advantage Oil & Gas updates 1H guidance; says capex to be ~$110 mln; FFO to be ~$107 mln (6.91 -0.12)
The co announces that the Board of Directors has approved a capital budget and updated guidance for the six month period ending June 30, 2010. Additional corporate guidance will be provided on or about mid-year 2010 to address future growth plans at Glacier. Capital expenditures are estimated to be approximately $110 million and will be funded out of funds from operations. Approximately 80% of the capital program will be directed to Glacier with the balance allocated to drilling and enhanced oil recovery projects in our properties at Nevis, Sunset and Saskatchewan. Corporate production for H1 2010 is forecast to average 24,200 to 25,200 boe/d with a natural gas weighting of 68%... Funds from operations for the 6 month period ending June 30, 2010 based on the mid-range of guidance is estimated at $107 million using an average Nymex natural gas price of $5.53 US/mmbtu ($5.45/mcf Cdn @ AECO), WTI oil price of $80.46 US/bbl and an $0.98 Cdn/$U.S. exchange rate. Advantage's commodity price hedging positions have been included in the funds from operations estimate.
16:02
PERY Perry Ellis enters into an exclusive agreement with Nolan Glove Company (15.51 -0.48)
Co announces that it has entered into an exclusive license agreement with Nolan Glove Company (Nolan) to manufacture, design and distribute women's Laundry by Shelli Segal(R) year-round accessories, including: hats, caps, earmuffs, gloves, mittens, scarves and wraps. Launching fall 2010 in-store, Laundry by Shelli Segal year-round accessories will be distributed to better department stores and specialty stores. The collection will launch to the trade at the end of January.
16:01
ALNY Alnylam Pharma presented data from multiple pre-clinical and clinical programs at RNAi Keystone Symposium (18.16 +0.15)
Co announces it presented data from multiple pre-clinical and clinical programs at the "RNA Silencing: Mechanism, Biology, and Application" Keystone Symposium. Alnylam and its collaborators presented data from Alnylam's therapeutic programs including transthyretin -mediated amyloidosis and Huntington's disease, as well as new data on delivery approaches for the systemic delivery of RNAi therapeutics. Further, results were presented for the first-ever comprehensive analysis of "canonical" siRNAs compared to "dicer substrate" siRNAs, showing a superior performance of "canonical" siRNAs. "Alnylam scientists and collaborators continue to make significant progress in advancing the translation of RNAi to create a robust drug discovery platform for innovative medicines... We are encouraged by the data presented at this meeting from our TTR-mediated amyloidosis and Hungtinton's disease therapeutic programs, amongst others. We are also excited by the remarkable progress we and our collaborators are making in the delivery of RNAi therapeutics. Finally, our comprehensive study comparing in vitro and in vivo properties of canonical and dicer substrate siRNAs confirms that the naturally occurring canonical siRNA structure is indeed superior."
16:01
SRX SRA Intl awarded $98 million contract from Food and Drug Administration (18.74 +0.28)
16:01
VIST VIST Financial delays fourth quarter, year-end earnings release and dividend announcement (5.75 -0.08)
Co announces that it has decided to delay its earnings release for the fourth quarter and year-end 2009 in order to allow adequate time to finalize the financial results. VIST had previously announced the earnings release would be issued on January 26, 2010, followed by an earnings conference call on January 27, 2010. VIST Financial expects to release its earnings and dividend announcement on or before February 15, 2010. The exact date of the earnings call will be announced in early February. VIST Financial does not anticipate a delay in the filing of its annual report on Form 10-K.
15:57
Earnings Calendar
Today after the close look for the following companies to report: ADTN, CREE, CSX, FULT, HBHC, IBM, PNFP, SUPX, and WIT. Tomorrow before the open of the many companies scheduled to report some of the bigger names include BAC, BK, COH, MTB, MS, NTRS, STT, USB, and WFC.
15:50
FXI Sector ETF strength & weakness moving into today's closing bell -Technical-
Actively Traded Leading Sector ETF Plays:
China 25- FXI +3%, Steel- SLX +2.5%, iShares REITS & real estate- ICF +2.25%, IYR +2.25%, India- INP +2.25%, iShares S. Korea- EWY +2.25%, Silver- SLV +2%, Pharma HLDRS- PPH +2%, Healthcare- XLV +2%, IYH +1.75%, IHF +1.75%, Biotech- XBI +2%, BBH +1.75%, IBB +1.5%, Emerging Mkts.- EEM +2%, SPDRS metals/mining- XME +1.75%
Actively Traded Lagging Sector ETF Plays:
Nat gas- UNG -1.5%, Euro currency shares- FXE -.5%, US bonds- TLT -.25%, Yen currency shares- FXY -.25%
15:40
TAN Claymore Solar ETF testing morning rebound high (10.06 unch) -Update- -Technical-
Noted the test/hold near its 50 day sma this morning at 9.87 (session low 9.85) after a 14% plunge. It rebounded to 10.05 with the last several hours spent drifting sideways. In recent trade it has retested the recovery high -- FSLR, WFR, SPWRA, STP, TSL, YGE.
15:35
AAPL Apple continues to climb higher intraday as it lifts up near its Jan/52-wk high of 215.00-215.59 (214.96 +9.03) -Update- -Technical-
15:32
XLE Sector Relative Strength -Update- -Technical-
Sectors that are outperforming the S&P on the latest intraday push include: Energy XLE / OIH, Solar TAN, Materials XLB, Rail.
15:26
TECHX Stock indices breach above afternoon range highs -- Dow +114 set new 52-wk high, S&P +13 hovering just under, Nasdaq +31 -Update- -Technical-
15:10
SPY NYSE & NASDAQ trading volume firm going into the final hour, but well below Friday's pace-- See NYSE & NASDAQ 30 min. vol. chart -Technical-
Both NYSE & NASDAQ exchange trading volume remains firm today as the gains are maintained going into the last hour of trading but today's tally will fall well short of Friday's heavy volume. That sessions heavy total was attributed to increased fund & institutional selling along with the Jan. expiration cycle of index & equity options.
As of 3:00EST, nearly 675M shares have changed hands on NYSE vs. 975M on Friday. On NASDAQ, nearly 1.5B shares have changed hands vs. 2.0B on Friday.
NYSE 30 min volume chart
NASDAQ 30 min volume chart
14:57
GRMN NASDAQ 100 (NDX) leaders & laggards moving into today's final hour of trading -Technical-
NDX 100 Best % Performers:
GRMN +5.5%, AAPL +4%, MRVL +4%, LBTYA +3.75%, EBAY +3.5%, SHLD +3.5%, VRTX +3.5%, WCRX +3.25%, HOLX +3%, MICC +3%
NDX 100 Worst % Performers:
BIDU -5.5%, ILMN -3%, FAST -2%, RIMM -1.5%, NIHD -1.25%, PAYX -1%, LIFE -1%, APOL -1%, YHOO -.75%, JBHT -.75%
NASDAQ TRIN @ +.75
NASDAQ A/D @ +980
14:54
MRK Dow (INDU) leaders & laggards moving into today's final hour of trading -Technical-
INDU Best % Performers:
MRK +2.5%, PFE +2.5%, VZ +2.25%, DD +2.25%, MCD +2%, MMM +2%
INDU Worst % Performers:
KFT -1%, JPM -.5%, AA -.5%
NYSE TRIN @ +.70
NYSE A/D @ +1410
14:42
COMDX NYMEX Energy Closing Prices
Crude oil gained $1.02 cents to settle at $79.02, nat gas shed 15.6 cents to end at $5.549, heating oil closed lower by 0.07 cents to $2.0453 and RBOB gasoline finished up 1.53 cents to $2.0607 (all Feb contracts).
14:10
X U.S. Steel sets new session high of 65.25, working its 52-wk close high at 65.34 from early Jan (65.24 +3.20) -Update- -Technical-
The 52-wk intraday high set last week does not come into play until 66.45.
14:01
NEXM NexMed updates on Canadian Aproval Process for Vitaros (0.53 -0.02)
Co received a Notice of Non-Complianceas part of the review process from Health Canada for its New Drug Submission for the Vitaros erectile dysfunction treatment filed in February 2008. The deficiencies cited related to the product's CMC (Chemistry, Manufacturing and Controls). There were no pre-clinical or clinical deficiencies cited in the Notice. The Notice is a routine end-of-review communication from Health Canada when additional information is needed to reach final decision on product approval. Dr. Bassam Damaj, NexMed's Chief Executive Officer said, "The Notice provides us with a clear pathway to obtaining marketing approval of the product in Canada. The FDA had previously raised most of Health Canada's CMC issues and we were successful in working out a compliance plan with them. We look forward to discussing Health Canada's specific concerns in a face-to face meeting which will be our first since we filed the NDS. In the meantime, we remain optimistic about the approvability of our Vitaros product in Canada."
14:00
WR Westar Energy acquires development site for future Kansas Wind Energy Project (22.44 +0.20)
Co announced it has acquired development rights for a new wind energy farm in Kansas. Westar has reached an agreement with Infinity Wind Power to develop the Ironwood site near Spearville for up to 500 megawatts (MW) of wind energy. The initial phase of wind development is expected to be approximately 200 MW and will be completed by late 2011 or 2012, depending on the pace of new transmission construction in western Kansas.
13:51
APOL Draft language suggests longer period of regulatory overhang- Deutsche Bank -Update-
Deutsche Bank says due to the DoE's updated draft language for next week's final NegReg session they now expect a longer period of regulatory overhang for the market-funded education stocks. They had hoped next week's session would clear up most of the noise, but that is now highly unlikely. Without consensus, firm says the details of the proposed regulation will be unknown until the Notice of Proposed Rulemaking is published, prolonging the period of regulatory uncertainty. (APOL, APEI, COCO, DV, ESI)
13:41
SMH Semiconductors Hldrs Trust back vacillating near early high (27.32 +0.39) -Technical-
The Semi sector (SMH) was a laggard last week with it dropping more than 3% on Friday and as much as 6.3% off Monday's high. It held at support at its Oct high and 50 day ema and stabilized Friday with the early run today reaching 27.34 which has been retested in recent trade. For the near term as long as the 27.15/27.05 support area is not taken out, it will be in position for follow through upticks. Key short term resistances to work through to neutralize the recent weak pattern are at 27.60 and the 27.80/27.86 area (Click for chart) -- SNDK +6.3%, ADI +1.6%, ALTR +1.7%, AMAT +1.7%, AMD +2.2%, AMKR +1.8%, ATML +2%, LSI +1.7%, TER +1.8%, XLNX +1.6%.
13:37
Fitch issues special report for 2010 U.S. health care credit outlook
Fitch Ratings issued a special report today on the U.S. Health Care Credit Outlook for 2010. The report provides supporting data and commentary to the conclusions listed in Fitch's outlook press release issued on Dec. 2, 2009, titled 'Fitch: Economic Pressure & Event Risk Will Drive U.S. Healthcare's Negative Outlook in 2010'. According to the report, Fitch's negative outlook for the U.S. Health Care sector for 2010 is driven by two keys factors - continued economic pressure and potential health care reform legislation. Persistent high unemployment impacting health insurance coverage along with a muted ability for people to manage out-of-pocket costs of co-payments and co-insurance will continue to hamper prospects for the industry, in general, in 2010. Fitch says growing event risk surrounding U.S. healthcare reform and the subsequent impact on health insurance coverage, reimbursement and the corresponding change in the competitive landscape create uncertainty regarding the long-term financial results for the sector. Credit trends in the various health care sub-sectors are dependent on company managements' ability to counter these factors to offset potential compression of profitability.
13:33
COMDX COMEX Metals Closing Prices
Feb gold ended the day higher by $10 to $1140.50, March silver closed up 37.3 cents to $18.80 and March copper finished higher by 8.1 cents to $3.447.
13:32
CBLI Cleveland Biolabs doses first volunteers in second safety study for CBLB502 (4.07 +0.12)
13:25
KMP Kinder Morgan Prtnrs and U.S. Development Group formed a joint venture (55.05 +1.60) -Update-
U.S. Development Group announced that it has formed a joint venture with Kinder Morgan Energy Partners. The joint venture will combine USD's designing, developing and operating ethanol terminals with existing Kinder Morgan ethanol terminal and pipeline assets to create a national distribution network of ethanol handling facilities capable of meeting the growing demand for bio-fuels. As part of the venture, USD and KMP will optimize and coordinate customer access to the expanded distribution platform.
13:16
HW Headwaters and Axens form strategic alliance (6.17 +0.14)
Co announced that they have signed an agreement to form a strategic alliance to provide a single-source solution for producing ultra-clean fuels by direct coal liquefaction (DCL) alone or in combination with refinery residues or biomass. Headwaters and Axens create a strategic alliance around their Direct Coal Liquefaction technologies.
13:08
SLV Silver Trust ETF tests last week's peak at 18.45 -- session high 18.45 (18.42 +0.37) -Technical-
PAAS, SLW, SSRI.
13:06
TECHX Relative Sector Strength -Update- -Technical-
Sectors that are providing leadership on the latest intraday push to new highs for the market averages include: Energy XLE / OIH, Finance XLF / RKH, Housing XHB, Semi SMH, Ag/Chem MOO, Steel SLX, Gold Miners GDX.
13:02
BDX Becton Dickinson and Juvenile Diabetes Research Foundation announced program aimed at improving the treatment of type 1 diabetes (77.05 +0.76)
Juvenile Diabetes Research Foundation (JDRF) and Becton, Dickinson and Company announced program aimed at improving the treatment of type 1 diabetes by developing novel insulin delivery products to enhance the use of insulin pumps. Through the program, JDRF will support BD's research and development of new products that deliver insulin from a pump to a patient in either an infusion set or patch-pump configuration. An additional goal of the program is improving the speed at which insulin works.
13:00
FSBK First South Bancorp renews stock repurchase program (10.58 +0.33)
Co reports that its previously announced stock repurchase program expired on January 15, 2010. Co had placed the program in an inactive status and did not purchase any of the 486,905 shares approved under that program. Co announces it has adopted a plan to renew the stock repurchase program so that it may repurchase up to 5% of its current outstanding common shares, totaling 487,115 shares. Initially, the stock repurchase program will remain inactive.
13:00
MAIN Main Street Capital announces it closed its underwritten public offering of 2,500,000 shares of common stock at a price of $14.75 per share. (14.74 +0.14)
12:58
DIA Dow sets new high of 10715, hovering just under its 52-wk intraday peak from last week at 10723 -Technical-
Top performing components on a percentage basis include: MRK +35, PFE +2.2%, VZ +2.1%, MCD +2.1%, MMM +1.9%, DD +1.9%, JNJ +1.7%, PG +1.5%, CAT +1.4%, CSCO +1.4%. The next resistance zone is in the 10750/10765 area.
12:55
COMDX Natural gas has rallied over the past ~2 hrs, off of session lows, to trade to its best levels of the session and is off 5.1 cents to $5.64
12:50
FXI Sector ETF strength & weakness @ midday trading -Technical-
Actively Traded Leading Sector ETF Plays:
China 25- FXI +2.75%, Pharma HLDRS- PPH +2.5%, Healthcare- XLV +2.5%, IHF +2%, IYH +2%, Silver- SLV +2%, Biotech- BBH +2%, XBI +1.75%, IBB +1.5%, Steel- SLX +2%, iShares S Korea- EWY +2%, iShares REITS & real estate- ICF +1.75%, IYR +1.5%, iShares Brazil- EWZ +1.75%, Emerging mkts.- EEM +1.5%, India- INP +1.5%
Actively Traded Lagging Sector ETF Plays:
Heating oil- UHN -1%, Solar power- TAN -1%, Nat gas- UNG -.75%, Euro currency shares- FXE -.75%, Clean energy- PBW -.5%, Wind energy- FAN -.25%, Yen currency shares- FXY -.25%
12:40
LXU LSB Industries announces initial ammonia production at Pryor Chemical Company Plant (15.34 +0.49)
Co announced that production of anhydrous ammonia, which is the initial feedstock for the production of urea ammonia nitrate, began at its Pryor Chemical Company plant in January 2010, but that the production of UAN from the ammonia feedstock has not yet started. Production rates of ammonia are currently below targeted annual rates. When in full production, Pryor Chemical expects to produce and sell ~325,000 tons of UAN and ~35,000 tons of ammonia annually. Co also reported that since there was no significant production at Pryor Chemical in Q4 of 2009, it continued to incur and expense ~$1.6 million per month in start-up costs, in addition to variable costs such as natural gas and electricity. Those costs are consistent with those incurred during Q3 of 2009.
12:31
REGN Regeneron Pharms moves in tandem with the strength in the biotech space as shares of this stock probe very notable weekly technical resistance surrounding the 25.00 mark -Technical-
We see topping action around 25.00~25.25 going back to late 2007 in play again today. Watch for a key breakout or continued resistance/sellers in this price zone.
HoD now @ 25.10
REGN Weekly Chart
12:29
IDN Intelli-Check Inc confirms it was awarded a pilot agreement from Loyalty and Marketing solutions provider (3.78 +0.15) -Update-
Co confirms that a "leading provider of loyalty and marketing solutions" has signed an agreement to pilot the IDCheck FastForm technology for potential applications in the delivery of its credit card programs provided to retailers. The agreement allows for the integration of Intellicheck Mobilisa's IDCheck FastForm technology into retail clients' points of sale systems.
12:25
SPY Stock indices extend early advance after late morning pause -- Dow +94, S&P +11, Nasdaq +26 -Update- -Technical-
The 52-wk close high for the S&P from last week is at 1148.46 with the 52-wk intraday peak at 1150.41.
12:17
MSEX Middlesex Water names Richard M. Risoldi Chief Operating Officer (17.09 -0.09)
12:09
AAPL Apple sets fresh session high of 213.90, its early month 52-wk close/intraday highs are at 214.38/215.59 (213.80 +7.87) -Update- -Technical-
12:03
AMGN Amgen shares rise to highs here @ midday with notable technical resistance surrounding the 57.75~58.00 level in play once again-- See Daily Chart (57.73 +1.48) -Technical-
AMGN Chart
HoD now @ 57.75
12:01
TRI Thomson Reuters' Tax & Accounting business awarded a patent by the US PTO for creating a system to determine a co's tax provision (32.93 -0.58)
11:52
TECHX Relative sector performance -Update- -Technical-
Seeing some relative sector weakness in recent intraday trade (underperforming the S&P) in Semi SMH, Housing XHB, Industrial XLI, Airline, REITs IYR, Medical Supplies, Networking, Coal KOL, Steel SLX. Finance (XLF, RKH) is displaying relative strength.
11:46
TGT Target hovering in tight range near session high of 50.65, the early Jan/two month peak is at 50.79 (50.63 +0.46) -Technical-
Its November high comes into play at 51.02.
11:32
SEAC SeaChange: DISH Network is upgrading its platform of SeaChange International Spot advertising insertion systems (6.49 +0.04)
DISH Network LLC, a subsidiary of DISH Network Corporation (DISH), is upgrading its entire platform of SeaChange International (SEAC) Spot advertising insertion systems to meet the growing demand for high-definition ad placements. SeaChange is the exclusive ad insertion technology provider for DISH Network.
11:31
UNT Unit Corp announced its initial 2010 capital expenditures budget (49.32 +0.22)
Co announced its initial 2010 capital expenditures budget for all of its business segments of $467 mln, an increase of 57% from 2009. Of this amount, $365 mln is budgeted for its oil and natural gas segment, which includes $319 mln for drilling and completion activities and is a 66% increase over estimated 2009 capital expenditures, $49 mln for its contract drilling segment, a 27% decrease over estimated 2009 capital expenditures, and $53 mln for its mid-stream segment, a 446% increase over estimated 2009 capital expenditures. The company's 2010 operating budget is based on oil and natural gas prices averaging $72.00 per barrel and $5.30 per mln cubic feet (Mcf), respectively, and, in addition to other items, may be adjusted based on changes in commodity prices and industry conditions. The 2010 capital expenditures program is anticipated to be funded mainly through internally generated cash flow and to a lesser extent from borrowings under the company's bank credit facility.
11:27
ANR Alpha Natural Resources: Cobalt Coal has executed a sales contract with subsidiary of Alpha Natural Resources (48.49 +0.34)
Cobalt Coal has executed a sales contract with Riverside Energy, a wholly owned subsidiary of Alpha Natural Resources Inc. (ANR) whereby Riverside has agreed to purchase metallurgical coal from Cobalt's Westchester Coal Mine in McDowell County, West Virginia USA. Terms of the sales contract include a fixed price for 8,000 tons of coal from Westchester per month over a period of twelve months. Any production above this amount will be sold into the spot market. Cobalt has targeted March 1st, 2010 as the start date for commercial coal production into the aforementioned sales contract.
11:26
TECHX AAPL & GOOG run to session highs as the broad market indices consolidate gains just beneath he morning highs -Technical-
11:22
IBM IBM sets minor new 52-wk ahead of earnings (133.13 +1.35) -Technical-
The stock has edged slightly above its early month high of 132.97 to establish a new 52-wk high (session high 133.27) ahead of its earnings after the close. The next technical target zone above is at 134.14/134.93 which is based on the width of the Jan range and marks its Sep 2000 high (Click for chart).
11:06
BBBB Blackboard shares continue the intraday trend lower as price probes potential rising 50 day moving average support now in play (43.58 -1.33) -Technical-
50 day SMA @ 43.50
50 day EMA @ 43.25
LoD now @ 43.54
11:01
SPY S&P 500 extends to upper end of last week's range/52-wk highs -Update- -Technical-
Strong run this morning leaves the index slightly extended on a very short term basis (Click for chart) with it back near the upper end of the near two week trading range/52-wk highs. Initial intraday supports are 1143 and 1141.
11:00
NCR NCR Corp signed a multimillion dollar deal with Westpac New Zealand (12.32 +0.28)
Co announced it has signed a multimillion dollar deal with Westpac New Zealand to implement the country's standards-compliant ATM network and help fulfil the bank's promise of better service in its branches. By June 2010, more than 400 devices - 80% of the bank's network - will be replaced with next generation NCR SelfServ ATMs.
10:55
PXD Pioneer Natural Resources slips to fresh lows on a pick up in volume as it dips below the 50.00 "psych" area to challenge its 20-day ema at 49.61 (49.67 -0.85) -Update- -Technical-
10:48
Rumor Round Up
The shortened week opened up with a plethora of rumors. It was rumored America Movil (AMX 46.72 +0.15) could be interested in MetroPCS (PCS 6.48 +0.16). Newell Rubbermaid (NWL 15.33 +0.42) saw some early morning strength after the co was rumored to be hearing interest from Proctor Gamble (PG 61.45 +0.63). Rambus (RMBS 21.28 +0.51) heard renewed positive settlement chatter. Note on Jan. 14 wire reports announced Judge Kramer said manufacturers were asking for a two month delay because Micron's (MU) lawyer had health issues. A hearing was scheduled for Jan. 21 to consider the request; shares fell ~8% on that news. Citigroup speculated that Bunge (BG 68.84 -1.01) could be gearing up for another run at Corn Products (CPO 31.07 +1.32) after BG indicated it was in discussions to sell its wholesale fertilizer minding operations. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.
10:46
TAN Claymore Solar ETF extends plunge off last week's high to 14%, holds near its 50 day sma at 9.87 -- session low 9.85 (10.00 -0.06) -Update- -Technical-
FSLR, WFR, SPWRA, STP, TSL, YGE.
10:44
BIDU Baidu.com sinks lower intraday as it nears a test of last wk's gap near 425.00-430.00 (430.60 -36.30) -Update- -Technical-
10:40
WTW Weight Watchers filed a complaint for injunctive relief and damages against Jenny Craig (29.08 -0.04)
Co has filed a complaint in the U.S. District Court for the Southern District of New York for injunctive relief and damages against Jenny Craig. Co seeks to prohibit Jenny Craig from continuing its current "false and misleading advertising campaign, which makes deceptive claims about the success of their program versus the Weight Watchers program that are not supported by fact or science." The complaint states that to support Jenny Craig's claims, generally accepted standards of biomedical research require Jenny Craig to compare the two current offerings of both companies through a head-to-head randomized clinical trial. The ads mislead consumers into believing such a trial has taken place. Rather, Jenny Craig chose to make a purported scientific claim by twisting the findings of an irrelevant 10-year-old Weight Watchers study against a new Jenny Craig study, instead of running a head-to-head clinical trial which Jenny Craig was free to do. In fact, neither of the two studies cited by Jenny Craig, both of which were conducted with different research purposes and protocols, actually compares the efficacy or success of Jenny Craig to Weight Watchers.
10:35
FXI Sector ETF strength & weakness through today's 1st hour of trading -Technical-
Actively Traded Leading Sector ETF Plays:
China 25- FXI +2.5%, Healthcare- XLV +1.75%, IHF +1.75%, IYH +1.5%, iShares S. Korea- EWY +1.75%, Pharma HLDRS_ PPH +1.75%, India- INP +1.75%, Steel- SLX +1.5%, Biotech- BBH +1.5%, XBI +1.25%, iShares Brazil- EWZ +1.25%, Emerging mkts.- EEM +1.5%, Regional banks- KRE +1.25%
Actively Traded Lagging Sector ETF Plays:
Nat gas- UNG -3%, Heating oil- UHN -1.5%, RBOB gas- UGA -1.25%, Solar power- TAN -.5%, Commods- DBC -.75%, GSG -.75%, Euro currency shares- FXE -.75%, Crude/WTI oil- USO -.75%, OIL -.75%
10:34
AKS AK Steel slips to fresh gap down lows as it eyes a test of the 22.00 area below (22.73 -0.97) -Technical-
10:30
IYR iShares DJ Real Estate displaying intraday relative strength, working up toward top of narrow two week range at 46.52 (46.36 +0.65) -Technical-
VNO, BXP, SPG, PSA, PEI, MAC, PLD, AIV, CPT, KIM.
10:30
PENN Penn Natl Gaming secures option for alternate Columbus Casino site at former Delphi Automotive plant on West Side (29.55 +0.12)
Co announces it has entered into an option to purchase the site of the former Delphi Automotive plant on Columbus' West Side as an alternate location for its planned development of Hollywood Casino Columbus. Penn National's alternate 123-acre site is located on Georgesville Road near the intersection of West Broad Street. In November 2009, in connection with an amendment to the state constitution, Ohio voters approved the development of a casino in Columbus' Arena District. The company agreed to consider alternate sites at the request of public officials and others in the Columbus community.
10:28
GRMN NASDAQ 100 (NDX) leaders & laggards moving through today's 1st hour of trading -Technical-
NDX 100 Best % Performers:
GRMN +4.25%, FLEX +3.5%, WCRX +2.75%, AAPL +2.5%, ISRG +2.5%, SHLD +2.5%, MRVL +2.75%, ADBE +2.5%, MICC +2.25%, NWSA +2.25%, CEPH +2%, XRAY +2%
NDX 100 Worst % Performers:
BIDU -6.25%, APOL -2%, RIMM -1.75%, ATVI -1.25%, FSLR -1%, AMZN -1%, FAST -.5%, PAYX -.5%
NASDAQ TRIN @ +.75
NASDAQ A/D @ +895
10:25
MRK Dow (INDU) leaders & laggards moving through today's 1st hour of trading -Technical-
INDU Best % Performers:
MRK +2.75%, PFE +1.75%, CSCO +1.5%, VZ +1.5%, CAT +1.5%, MCD +1.25%
INDU Worst % Performers:
KFT -2.5%, JPM -1%, BAC -.75%, XOM -.5%, KO -.5%, CVX -.25%
NYSE TRIN @ +1.0
NYSE A/D @ +880
10:23
APOL Education stocks continuing to display early morning relative weakness -- APOL, ESI, COCO, CECO, DV (59.19 -1.22) -Update- -Technical-
10:20
V Visa climbs higher off the opening to challenge last Friday's high of 87.54 (87.57 +1.43) -Technical-
Note the stock has been in a narrow range consolidation pattern along its 20-day exponential moving average for the last 4-weeks. Its current January resistance lies along the 87.50/88.00 area with support along the 85.50 area (Click for chart).
10:17
MSFT Microsoft retests early session high of 31.15, hovering slightly under last week's peak at 31.24 (31.15 +0.28) -Update- -Technical-
Note that its 52-wk close/intraday highs from Dec come into play at 31.39/31.50.
10:15
AIG American Intl shares slip below some notable technical support @ 27.50~27.40 derived from the mid-Dec. low points (27.42 -.64) -Technical-
AIG -2.4% vs. SPX +.75%.
LoD @ 27.31
10:14
SPY Stock indices run to fresh session highs -- Dow +55, S&P +7.9, Nasdaq +24 -Update- -Technical-
Relative sector strength (outperforming the S&P) has been noted in Internet HHH, Solar TAN, Casino, Semi SMH, Oil Service OIH.
10:13
AMAC American Medical Alert announced that e-pill has executed an agreement to begin selling AMAC's MedSmart Medication Reminder and Dispensing System (6.50 +0.16)
10:09
WPI Watson Pharm confirms filing of FDA application for generic Lidoderm (42.00 +1.10)
Co confirmed that its subsidiary, Watson Laboratorieshas filed an Abbreviated New Drug Application with the FDA seeking approval to market its lidocaine topical patch 8% prior to the expiration of U.S. Patent No. 5,827,529. Watson's lidocaine topical patch 8% is a generic version of Endo's Lidoderm.
10:04
XLF Financial Select Sector SPDR rebounds off support, back hovering near unchanged (14.92 -0.02) -Technical-
The XLF opened on the defensive after not participating in Friday's afternoon recovery attempt but it held at an equality target (Click for chart) and stabilized. A continued posture above this early low leaves a favorable pattern off the Jan recovery high intact -- AXP, BAC, BK, GS, JPM, MS, STT, USB, WFC, C, PNC, MET, TRV.
10:01
COIN Converted Organics retained Crossbow Group for 2010 marketing efforts (1.12 +0.02)
Co retained Crossbow Group of Westport, CT to develop high impact advertising and marketing communications programs targeted to several of the firm's target markets. Crossbow Group will be developing measurable, scalable programs for the retail lawn and garden, agriculture, professional lawn care and golf course markets. Programs will roll-out in the first quarter of 2010.
10:00
SOLR GT Solar sgns more than $40 mln in new contracts with GCL-Poly (6.02 +0.28)
Co announces it has signed contracts in excess of $40 mln with two wholly owned subsidiaries of China-based GCL-Poly Energy Holdings Limited. The first agreement, with Jiangsu Zhongneng Polysilicon Technology Development is for GT Solar's Trichlorosilane Production Technology Solution. The second, with Jiangsu GCL Silicon Material Technology Development, is for GT Solar's Directional Solidification System furnaces and ancillary equipment. These contracts represent the first purchases of GT Solar equipment and services by GCL-Poly and its subsidiaries.
09:55
X U.S. Steel showing strength off the opening as it climbs above last Friday's high of 63.63 (63.80 +1.76) -Technical-
09:54
GENZ Genzyme shares tick to session highs as price probes a notable congestion top area capped off by the resistance of the descending 200 day SMA @ 54~54.05 (53.90 +.45) -Technical-
GENZ HoD now @ 54.00 with the Jan. swing high point just above the 200 SMA @ 54.35.
09:53
COMDX Crude oil recoups its losses to move back into positive territory; now higher by 8 cents to $78.08
09:48
PPH Sector Watch -Technical-
Top performing sectors in the early going are being led by Pharma PPH, Healthcare XLV, Biotech IBB, Airline, Ag/Chem, Housing XHB, Materials XLB.
09:41
SPY S&P slightly firmer in early trade -Update- -Technical-
The index has paused near first level resistance at 1138 (38% retrace of Thur-Fri decline) (session high 1138) with a posture above 1135/1134 needed to keep it in a favorable price pattern off Friday's low. Resistance above is at 1142/1143.
09:38
JNJ Johnson & Johnson launches higher off the opening to challenge recent 6-week highs along the 65.25/65.40 area (65.23 +0.67) -Update- -Technical-
09:36
BAC Bank of America slips under last week's low (16.03 -0.22) -Technical-
Weaker start with it breaking under last week's low at 16.15 leaving it near the 50% retracement of the Dec - Jan rally and its 50 day ema at 16.00/15.93 (session low 16.01). Note that its 50 day sma comes into play at 15.79.
09:35
USGS reports 5.8 magnitude earthquake in Cayman Islands region
09:34
MPR Met-Pro Corp's Flex-Kleen business unit receives equipment order totaling approximately $600,000 (9.80 +0.17)
Co announced that the Flex-Kleen business unit has received an order, totaling ~$600,000, to supply a dust collection system for a petroleum coke calcining operation in the Gulf Coast region of the United States. This order is expected to ship in the first quarter of the Company's next fiscal year, which begins on February 1, 2010.
09:31
AMZN Amazon.com shares fall through a key line of 4 week technical/daily support (124.70 -2.44) -Update- -Technical-
Price shows early weakness & falls through some notable swing support @ 125.65/125.75.
LoD now @ 124.33
09:31
TYC Tyco announces upside prelim Q1 results, reaffirms FY10 results (38.50 +0.96)
Co issues upside guidance for Q1 (Dec), sees EPS of $0.63-0.65, excluding non-recurring items, vs. $0.50 First Call consensus, up from $0.48-0.50 previously; sees Q1 (Dec) revs of $4.25 bln vs. $4.15 bln consensus and $4.1 bln previously. Co reaffirms guidance for FY10 (Sep), sees EPS of $2.30-2.50, excluding non-recurring items, vs. $2.49 consensus. In addition, operating income before special items in the quarter was better than anticipated and was driven in part by improved operating results at each of the company's business segments. Corporate expense and the company's tax rate were both below previous guidance due to the timing of certain items. On a preliminary basis, higher operating segment income and lower corporate expense contributed approximately $0.10 to the improvement, with the remaining $0.05 attributable to the impact of lower taxes. "We were pleased with our operating performance and margins in the first quarter. Although our first quarter was better than expected, our order activity continues to be relatively flat. However, we are seeing increased quoting activity in our businesses." CO also announced acquisition of CFL this morning.</p>
09:30
QTWW Quantum Fuel announces solar system supplier agreement with the Los Angeles Department of Water and Power (1.15 +0.06)
Co announces it has entered into a professional services agreement with the City of Los Angeles Department of Water and Power as a "qualified supplier", one of 12 companies selected among 109 bid participants. The agreement sets forth the terms by which LADWP would procure the materials and services necessary for solar power projects, as part of Los Angeles' mandated Renewable Portfolio Standard, which targets 20% of the energy for the City from renewable energy sources by 2010, and 35% of the energy from renewable energy sources by 2020.
09:30
JAS Jo-Ann Stores announced the promotion of Travis Smith to president and chief operating officer effective January 31, 2010 (37.13 +0.23)
09:26
UTA Universal Travel announces acquisition of Hebei Tianyuan Travel Agency (10.38 )
Co announces that it has entered into a Letter of Intent to acquire Hebei Tianyuan Travel Agency for RMB 29 million (approximately $4.2 million), 80% of which shall be paid in cash and 20% of the consideration in shares of the Company's common stock. The purchase consideration may be subject to adjustment after the completion of acquisition audit on Tianyuan by the Company. Unaudited full year 2009 revenues and net income for Tianyuan are approximately $7.2 million and $0.7 million, respectively.
09:10
On The Wires
World Heart Corporation (WHRT) announces that the first U.S. implant of the Levacor Ventricular Assist Device was successfully performed at INTEGRIS Baptist Medical Center in Oklahoma City on Wednesday, January 13, 2010... Procera Networks (PKT) announces that two major carriers selected Procera's high-end PacketLogic PL10000 80 Gbps platform. These initial orders, placed in the fourth quarter of 2009, were a culmination of almost a year of lab and field trials... US Dataworks (UDW) announces that The Bankers Bank, with headquarters in Oklahoma City, OK, has selected the Clearingworks platform to drive the image check clearing network for its over 275 community bank and other correspondent bank clients... Iconix Brand Group (ICON) announces that it has renewed its exclusive partnership with international icon, Britney Spears for its Candie's brand, which is available only at Kohl's Department Stores (KSS) and Kohls.com... China Sky One Medical (CSKI) announces that it has been featured by 'Science and Technology Daily,' an authoritative and influential publication in China covering science, technology, and innovation... TechTeam Government Solutions, a wholly-owned subsidiary of TechTeam Global (TEAM), announces that its Vector Research Center division has been awarded an indefinite delivery, indefinite quantity contract with the Defense Energy Support Center for management support services, analyses and studies. The contract vehicle has a potential value of up to $15 mln over five years.
09:09
PETS PetMed Express beats by $0.02, beats on revs (18.09 )
Reports Q3 (Dec) earnings of $0.25 per share, $0.02 better than the First Call consensus of $0.23; revenues rose 11.5% year/year to $48.4 mln vs the $47.1 mln consensus. Reorder sales increased by 17%, from $32.2 million to $37.6 million for the quarters ended December 31, 2008 and 2009, respectively. "We are pleased to report that our internet sales increased by 18% to $33.6 million for the quarter, compared to $28.6 million for the same quarter the prior year, with approximately 70% of our orders being generated from our website during the quarter, compared to 66% in the prior year. During the quarter, the co leveraged its operating expenses as a percent of sales, by 170 bps as compared to the same quarter in the prior year. We acquired approximately 151,000 new customers in the December quarter."
09:05
ESC Emeritus Corp signs JV agreement to acquire 134 senior living communities for $1.15 billion (19.14 )
Co announces that it has entered into a joint venture agreement with Blackstone Real Estate Advisors and Columbia Pacific Advisors, an affiliate of the Chairman and Co-CEO of Emeritus, in connection with the acquisition by the Joint Venture of approximately 134 communities currently operated by an affiliate of Sunwest Mgmt. BREA will have up to an 80% equity interest in the Joint Venture and Emeritus and Columbia Pacific each will have up to a 10% equity interest in the Joint Venture. The Joint Venture has entered into a purchase and sale agreement to acquire the 134 communities from Sunwest for approximately $1.15 billion. The Joint Venture will post a $50 million purchase deposit in conjunction with the signing. The purchase includes cash, the assumption of secured debt, and the In conjunction with the proposed acquisition, Emeritus entered into an agreement with the Joint Venture to manage the portfolio of communities for a fee equal to 5% of gross revenues. In addition, the Joint Venture agreement contains provisions to allow Emeritus a right of first opportunity to purchase the communities or the Joint Venture interests at fair value, and includes a profit sharing provision for Emeritus if the Joint Venture's internal rate of return exceeds established thresholds. potential equity rollover of up to $25 million by the existing Sunwest investors.
09:04
MVG MAG Silver discovered the continuation of the prolific Veta Grande Vein (6.68 )
Co announces the discovery of the extension, into MAG's 100% owned ground, of one of the most productive high grade silver veins in Mexico's historic billion-ounce silver producing Zacatecas District. Two holes (VGSE06 and VGSE07), appear to have discovered the continuation of the prolific Veta Grande Vein, the second most important production vein in the Zacatecas district. This discovery shows that this important and historic vein is open along strike from areas of past production including an additional 4 kilometres of possible projection on MAG's wholly owned property. In a second discovery in the same vicinity, Holes PR-01 and 02, drilled in the Puerto Rico Vein, have encountered high-grade silver mineralization.
09:03
CHLN China Housing & Land sees Q4 contract sales of $41.1 mln vs. previous guidance of $32-34 mln (4.50 )
the co reports preliminary results for the fourth fiscal quarter and annual results ended December 31, 2009, significantly exceeding previous guidance. During the fourth quarter of 2009, contract sales totaled RMB 280.5 million ($41.1 million) of residential and commercial unit sales from the JunJing II Phase One, Phase Two, Tsining 24-G and Puhua Phase One Projects, representing a total of 58,672 square meters. Previous guidance was $32 to 34 million in contract sales, and 46,000 to 48,000 square meters Gross Floor Area. The Company's average selling price per square meter in the fourth quarter 2009 was RMB 4,780... Puhua Phase One, the Company's first project in the Baqiao Development Region, started to contribute contract sales in the fourth quarter 2009. Puhua Phase One and JunJing II Phase Two are currently the Company's major development projects and generated the majority of contract sales in the fourth quarter of 2009... "We are pleased with our fourth quarter sales results, and glad to see strong sales coming from the Puhua project. We are also encouraged by the increasingly strong sales momentum seen throughout the fourth quarter."
09:02
KMP Kinder Morgan Prtnrs announces $195 million acquisition and new ethanol venture (63.45 )
Co announces a terminal venture designed specifically to handle renewable fuels. The transaction includes KMP's acquisition of three unit train ethanol handling terminals in Linden, N.J., Baltimore, Md., and Dallas, Texas, from U.S. Development Group (USD), and the formation of a joint venture to coordinate access to these terminals, other assets KMP already owns and operates, and other projects under development. The three unit train terminals acquired, together with KMP's existing ethanol terminal assets, will create a nationwide distribution network of ethanol handling facilities connected by rail, marine, truck and pipeline. The acquisition price for the terminals was approximately $195 million, including over $80 million in KMP equity issued to the seller. Upon closing, the transaction is expected to be immediately accretive to cash distributable to KMP unitholders.
09:02
DEPO DepoMed received guidance from the FDA regarding Serada (3.09 )
Co announced it has received guidance from the FDA in formal meeting minutes from a meeting held in December regarding SeradaTM, the company's extended release gabapentin product candidate for the treatment of menopausal hot flashes. Based on guidance reflected in the meeting minutes, Depomed plans to conduct a single additional pivotal Phase 3 trial evaluating Serada for the treatment of menopausal hot flashes. Co expects to initiate the trial, which will be known as Breeze 3, by the end of April 2010 and to complete the trial by the end of the first quarter of 2011. The FDA has agreed to review the proposed Breeze 3 study protocol under the FDA's Special Protocol Assessment (SPA) process. "We believe Serada continues to hold the potential to be the first non-hormonal treatment to address menopausal hot flashes, a significant unmet need in women's health."
09:01
MGI MoneyGram and Bank of China announce agreement to bing money transer service to the bank's 10,000 branches in China (3.14 )
MoneyGram International and Bank of China announce an agreement that will bring MoneyGram money transfer services to Bank of China's 10,000 domestic branches in the mainland in the coming years. The agreement, which more than triples MoneyGram's presence in this growing remittance market, follows the successful completion of a six-month pilot that ran in 240 Bank of China branch locations in Beijing. MoneyGram will begin rolling out its money transfer services in Bank of China branches in key provinces across the southern and eastern coast in China beginning in January and will continue expanding throughout the Bank's extensive network in the country in 2010 and 2011. In addition, this new strategic alliance with Bank of China will create further opportunities for MoneyGram's money transfer services in several other countries in the Asia Pacific region.
09:01
TMO Thermo Fisher signs agreement to acquire Ahura Scientific for $145 million in cash (47.75 )
Co agrees to acquire Ahura Scientific for $145 mln in cash plus the potential for an earn-out payment based on the achievement of certain 2010 financial targets.
08:58
COMDX Crude oil ticks to its lowest levels of the morning; now off 97 cents to $77.03
08:48
PGN Progress Energy narrows FY09 EPS guidance; issues FY10 EPS below consensus (38.93 )
Co issues in-line guidance for FY09 (Dec), sees EPS of $3.00-3.05, excluding non-recurring items, vs. $3.04 First Call consensus narrowed from $2.95-3.15 previously. Co issues downside guidance for FY10 (Dec), sees EPS of $2.85-3.05, excluding non-recurring items, vs. $3.11 consensus. The 2010 earnings guidance reflects adjusted retail revenue expectations due to the challenging economy in the company's service territories and the results of the decision last week in the co's Florida rate case. "Given the disappointing regulatory decision in Florida and the lingering effects of the economic recession, we expect 2010 will be an extremely challenging year. The rate case decision was particularly harmful because it failed to recognize the true costs associated with providing a secure, reliable electricity system. This decision will require us to make a number of tough decisions related to our O&M costs and capital expenditures."
08:45
ECONX Reminder: Net Long-Term TIC Flows data due out in about 15 min at 9:00ET
08:39
On The Wires
Wonder Auto Technology (WATG) announces that it closed an acquisition recently... 3M (MMM) and SATA GmbH have come to a settlement concerning patent infringement litigation brought by 3M in August, 2006 relating to 3M's utility models covering its Paint Preparation System products... Jude Medical (STJ) announces that it has successfully completed its second interoperability testing process for the company's Merlin.net Patient Care Network... Conexant Systems (CNXT) announces that Huper Laboratories has selected the company's video surveillance products for its new family of digital video recorder server boards... Omnicell (OMCL) announces that FirstHealth of the Carolinas has selected Omnicell OmniRx automated medication dispensing cabinets and OptiFlex supply systems to streamline the management of medications and healthcare supplies throughout its facilities.
08:39
EPL Energy Partners provided an update on fourth quarter 2009 operational activity
Co provided an update on fourth quarter 2009 operational activity. EPL also announced it will present at the IPAA Oil & Gas Investment Symposium (OGIS) on Wednesday, January 20, 2010 in Hollywood, Florida. Co had three rig operations underway in the fourth quarter 2009 on the Gulf of Mexico shelf. December production resulting from the South Timbalier workover program significantly enhanced fourth quarter 2009 production averages. As a result, the Company expects to be at the upper end or slightly higher than the production guidance given for the fourth quarter 2009 of 12,500 to 13,500 barrels of oil equivalent (boe) per day. Co reported a successful drill well on the GOM shelf, the EC 111 #1st, located in its Western offshore area.
08:38
Equity futures regain morning losses... SPX futures now flat vs. fair value, Nasdaq 100 futures are +6.5 vs. fair value
08:38
ROY International Royalty obtained an interim order with respect to IRC's previously announced plan of arrangement with Royal Gold (7.26 )
Co obtained an interim order from the Ontario Superior Court of Justice with respect to IRC's previously announced plan of arrangement with Royal Gold (RGLD). Pursuant to the Arrangement, each holder of IRC common shares will have the right to elect to receive, in exchange for each IRC share, up to either C$7.45 in cash or 0.1385 common shares of Royal Gold or a combination thereof, subject to a maximum of US$350 million in cash and a maximum of 7.75 million common shares of Royal Gold. If IRC shareholders elect to receive more than approximately US$314 million in cash, the number of Royal Gold common shares issued will be reduced on a pro-rated basis until such cash election reaches a maximum of US$350 million.
08:33
SNCR Synchronoss Tech's ConvergenceNow Plus platform has been selected by Dell (18.42 )
Co announces that its ConvergenceNow Plus platform has been selected by Dell (DELL) to globally enable on-demand activations of Dell's entire connected device portfolio, including Dell's first smart phone, designed on Google's Android Operating System. The initial markets supported will be North America and Europe, and then expanding on a global basis throughout 2010.
08:33
PXD Pioneer Natural Resources announced its second significant well in the Eagle Ford Shale and formation of a new Eagle Ford Shale Asset Team (50.53 )
Co announced its second significant well in the Eagle Ford Shale in South Texas. The Robert Crawley Gas Unit #1 well, which is located in Live Oak County, Texas, flowed at an initial production rate of approximately 17 million cubic feet of gas per day on a 24/64 inch choke with 7,300 pounds per square inch wellhead flowing pressure. It was drilled to a true vertical depth of approximately 14,000 feet and completed in a 5,400-foot lateral section with a 16-stage fracture stimulation (frac). The well is currently producing to sales... Co also announced the formation of a new Eagle Ford Shale Asset Team and the realignment of responsibilities for certain Executive Vice Presidents (EVPs) who are members of Pioneer's Management Committee. These changes are effective immediately and will support the Company's plans to potentially accelerate development of its sizable acreage position in the Eagle Ford Shale, including active pursuit of a joint venture partner, and to ramp up Spraberry drilling and other Permian services.
08:31
HAR Harman announces newly-formed collaboration with Sony (37.88 )
Harman International (HAR) announced two important initiatives in a newly-formed collaboration with Sony (SNE). Co has introduced the new JBL(R) docking station designed for Sony's Walkman digital media player. Additionally, Sony has begun offering products under Harman's JBL brand in Sony Style stores throughout Canada, and Sony is assessing the expansion of this relationship into other markets.
08:31
GIB CGI Group awarded 10-year, $395 million BPA with the U.S. Department of State and U.S. Agency for International Development (14.09 )
08:31
ZIGO Zygo names Chris Koliopoulos President and Chief Executive Officer (10.83 )
Co announces that Chris Koliopoulos, former President and CEO of ADE Corporation, has been appointed President and Chief Executive Officer, effective immediately. With the commencement of his employment, Dr. Koliopoulos has also become a member of the Board of Directors of Zygo Corporation. Dr. Koliopoulos succeeds J. Bruce Robinson, who announced in October his planned retirement as Chief Executive Officer, and from the Board.
08:31
FHCO Female Health Company initiates qtrly cash dividend of $0.05; reiterates FY2010 unit sales and earnings guidance (4.72 )
Co announces that its Board of Directors has declared a quarterly cash dividend of $0.05 per share. The dividend is payable February 16, 2010 to stockholders of record as of January 29, 2010. The cash dividend is the first in the Company's history. The Company also reiterated its previously announced guidance that Fiscal 2010 unit sales are expected to increase 20%-25%, when compared with Fiscal 2009 results, and that operating earnings should increase 35% to 40% over the $6.2 mln in operating income recorded in Fiscal 2009.
08:30
SMP Standard Motor reinstates quarterly dividend (8.98 )
The co announces that its Board of Directors has approved the reinstatement of a quarterly dividend. The Board approved a dividend of five cents per share on the common stock outstanding to be paid on March 1, 2010 to stockholders of record on February 15, 2010. Lawrence Sills, Standard Motor Products' Chairman and Chief Executive Officer, stated, "Our Board's decision to reinstate the dividend reflects our improved financial performance. The aggressive steps we have taken over the past twelve months have strengthened our financial and liquidity position, which has now allowed us to return to providing cash dividends to our shareholders."
08:22
NKTR Nektar Therapeutics tgt raised to $15 at Brean Murray as recent data reduces risk in pegylating small molecule drugs (11.97 )
Brean Murray raises their NKTR tgt to $15 from $12 after a more thorough review of the initial Phase 2 NKTR-102 results and Phase 1 pharmacokinetic data for NKTR-105 makes the firm believe it is clear that pegylation has reproducibly improved these drugs. Furthermore, the firm believes that Nektar's new focus largely on oncology and pain is the result of the preclinical product opportunities the co has discovered after its initial clinical success with small molecule pegylation. The firm notes that a convenient dual effect of pegylating chemotherapy is that the reduction in the initial spike in blood drug level reduces adverse events like neutropenia, yet the durability of drug is generally at a serum level low enough to preferentially kill the rapidly dividing cells in a tumor and its neovasculature, while sparing most of the more slowly dividing normal cells. Additionally, pegylation increased the half-life of both NKTR-102 and NKTR-105 by about 25-fold, and the firm suspects that Nektar will identify more chemotherapies that benefit similarly from the modification and allow for optimal drug exposure.
08:19
FAST Fastenal misses by $0.01, reports revs in-line (45.86 )
Reports Q4 (Dec) earnings of $0.30 per share, $0.01 worse than the First Call consensus of $0.31; revenues fell 12.5% year/year to $476.8 mln vs the $479.4 mln consensus. Gross profit margin was 49.9% in Q4 vs. 53.4% in 4Q08. "On a sequential basis, our daily average sales to our manufacturing customers improved each month since May 2009 (with the exception of July and December 2009 due to the holiday impact) versus the previous month. This trend was the first sequential improvement since September 2008. However, this improvement was partially offset by continued weakening in our non-residential construction business."
08:16
ENT Enterra Energy approved the conversion of the Trust to a corporation (2.11 )
Co approved the conversion of the Trust to a corporation to be named Equal Energy. The conversion is anticipated to be completed on or before May 31, 2010. Equal Energy will continue to pursue the exploration and development of its Oklahoma based Hunton natural gas and NGL resource play. The company will work to further develop opportunities in its Circus, Oklahoma oil play, as well as its oil play in the west central Alberta Cardium formation, and its various other Western Canadian Sedimentary Basin oil and gas prospects. In addition, the conversion will address the upcoming changes in the Canadian tax law, when the government will start imposing the new tax on income trusts starting in January 2011.
08:12
ACH Alum. Corp China warns of FY09 loss in 6-K filing (31.04 )
Based on preliminary calculations from ACH's finance department, the consolidated net profit of the co for FY09 is estimated to post a loss. Co says "domestic and international demand for aluminum from related industries decreased significantly in 2009. Meanwhile, overcapacity remained in the industry... the utilization rate of the co's production capacity was low. As a result, a significant loss was recorded by the co in 1H09." Co has adopted "proactive measures to maximize profit while keeping losses under control." Co notes the momentum of loss was "curbed effectively". Still, a significant loss was recorded in 1H09, according to filing.
08:11
C Citigroup reports EPS in-line, misses on revs (3.42 )
Reports Q4 (Dec) loss of $7.6 bln or $0.33 per share, in-line with the First Call consensus of ($0.33). Losses were $1.4 bln or $0.06 per share excluding the repayment and exit of TARP. Citigroup fourth quarter revenues were $5.4 billion, or $15.5 billion excluding the loss on the repayment of TARP and exiting the loss-sharing agreement, compared to First Call consensus of $18.4 bln. Revenues were down from $20.4 billion in the prior quarter which included a $1.4 billion gain from the extinguishment of debt associated with the exchange offers. Tier 1 Capital Ratio is 11.7% and Tier 1 Common Ratio is 9.6%. Allowance for Loan Losses stands at $36.0 Billion, or 6.1%, the provision for loan losses in the fourth quarter was $8.2 billion, down 36% from the prior year and 10% from the prior quarter. Fourth quarter net credit losses of $7.1 billion were down $0.8 billion from the prior quarter, marking the second consecutive quarter of improvement. Fourth quarter managed revenues were $7.9 billion, or $17.9 billion excluding a $10.1 billion pre-tax loss associated with the TARP repayment and exiting the loss-sharing agreement. Citigroup fourth quarter consumer managed net credit losses were $8.9 billion, down 6% sequentially, driven by lower losses across most consumer lending portfolios, due in part to loss mitigation efforts. Total corporate net credit losses declined sequentially to $1.1 billion in the fourth quarter, from $1.5 billion, reflecting continued stabilization in corporate credit quality, and declines in the size of the portfolio.
08:10
FRX Forest Labs beats by $0.11, misses on revs (30.66 )
Reports Q3 (Dec) earnings of $0.97 per share, excluding $0.25 fee related to Almirall and $0.03 from restructuring, $0.11 better than the First Call consensus of $0.86; revenues rose 8.4% year/year to $997 mln vs the $1037.7 mln consensus. Cost of sales as a percentage of sales was 24.8% compared with 22.5% in last year's third quarter due to the one-time restructuring charge of $14.0 million, or $0.03 per share net of tax. During the period, the Company commenced closing its packaging operations on Long Island resulting in a one-time charge. Excluding the one-time charge, cost of sales as a percentage of sales would have been 23.4% for the quarter.
08:10
On The Wires
Conexant Systems (CNXT) announces that Huper Laboratories has selected the company's video surveillance products for its new family of digital video recorder server boards... Omnicell (OMCL) announces that FirstHealth of the Carolinas has selected Omnicell OmniRx automated medication dispensing cabinets and OptiFlex supply systems to streamline the management of medications and healthcare supplies throughout its facilities... Interleukin Genetics (ILI) and LABEC Pharma, S.L. announces that LABEC Pharma has met European regulatory guidelines to sell Interleukin Genetics' Heart Health genetic test... Inuvo (INUV) announces that it will use $4.2 mln raised through an over-subscribed stock offering to drive growth by incorporating decision science technology into the existing Inuvo affiliate and search marketing platforms... Global Crossing (GLBC) announces that it is helping AeroMexico, the global airline of Mexico and Latin America, improve the efficiency and effectiveness of its business by providing the airline with a full suite of data and voice services to support more than 30 of its locations worldwide. AeroMexico has signed a three-year contract with Global Crossing... Integra Life Sciences (IART) announces that its subsidiary, Integra Luxtec, has signed a three-year contract with HealthTrust Purchasing Group to provide Luxtec surgical headlights, light sources and accessories to its members.
08:09
SNTA Synta Pharma announces completion of sale of 833,333 shares of common stock at price of $4.50/share (4.82 )
08:08
LEE Lee Enterprises reports Q1 EPS, excluding items, of $0.25, compared fo $0.24 a year ago; operating revs came in at $209.8 mln (4.05 )
08:07
CTFO China TransInfo Tech expands real-time traffic coverage, establishes relationship with Baidu (8.96 )
Co announces that it expanded its real-time traffic application coverage to Dalian and Nanjing effective January 15, 2010 and recently formed a cooperative relationship with Baidu, Inc. (BIDU). The company recently established a cooperative relationship with Baidu for its real-time traffic application. Based on the agreement, the company will provide real-time traffic information for Baidu's map searching service in Beijing, Shanghai, Shenzhen, Chengdu, and Chongqing. In addition, CTFO and Baidu will collaborate to develop new applications for mapping real-time traffic information searching services. This cooperation will allow CTFO to adopt Baidu's mapping technologies and interfaces.
08:07
NIV NIV IntelliMedia Tech Grp to acquire Huizhou Dongri Digital (3.60 )
Co executed a definitive acquisition agreement to acquire Huizhou Dongri Digital, a mobile phone product manufacturer located in the Huizhou Zhongkai Hi-tech Zone area. The aggregate purchase price to be paid for Dongri is to be up to $23 million. $13 million will be paid within 30 days after closing, expected to be January 22, 2010, and up to an additional $10 million may be payable at future dates contingent on certain performance metrics of Dongri being met, as described below. With the acquisition of Dongri, the Company's production capacity will be increased to 1 million mobile phones per month, in keeping with the Company's demand for its overall mobile phone products.
08:06
MMR McMoRan Expl beats by $0.17, misses on revs (13.94 )
Reports Q4 (Dec) loss of $0.11 per share, $0.17 better than the First Call consensus of ($0.28); revenues rose 12.8% year/year to $132 mln vs the $135.7 mln consensus. Average daily production for 2010 is expected to approximate 180 MMcfe/d net to McMoRan, including 200 MMcfe/d in first quarter of 2010. Potential to increase production rates with exploration success. Fourth-quarter 2009 production averaged 209 Million cubic feet of natural gas equivalents per day (MMcfe/d) net to McMoRan, compared with 162 MMcfe/d in the fourth quarter of 2008. Full-year 2009 average daily production averaged 202 MMcfe/d net to McMoRan. "We are excited by the results from the Davy Jones ultra-deep well, which indicate a major discovery. These important geologic results combined with the data available from other wells are redefining the subsurface geologic landscape below 20,000 feet on the Shelf of the Gulf of Mexico. We look forward to future activities to define the potential of this promising new exploration frontier."
08:05
MRNA MDRNA demonstrates significantly reduced off-target activity for proprietary RNAi-based compounds (1.02 )
Co announces the presentation of data highlighting the ability of the UsiRNA construct to significantly minimize off-target effects while maintaining potent RNA Interference activity. Narendra Vaish, Ph.D., MBA, Associate Director, Discovery Research and Pharmaceutical Development, presented the data at the Keystone Symposia on "RNA Silencing: Mechanism, Biology and Application" from January 14 to 19, 2010, Keystone Resort, Keystone, Colorado. MDRNA also reported delivery of UsiRNA against Survivin and PLK-1, by MDRNA's proprietary DiLA2-based liposome formulations via systemic or local administration, and demonstrated potent and persistent target knock-down and inhibition of tumor growth. Significant knockdown in the expression level of a liver gene has also been described in non-human primates following intravenous administration of a UsiRNA using DiLA2 liposomes.
08:05
CAB Cabela's announced series of executive promotions (16.47 )
Co announced series of executive promotions. The promoted executives now hold these titles and responsibilities: Patrick A. Snyder, Executive Vice President and Chief Marketing Officer. Snyder previously served as Senior Vice President of Merchandising and Marketing. Ralph W. Castner, Executive Vice President and Chief Financial Officer of Cabela's and Chairman of the Board of World's Foremost Bank. Joseph M. Friebe, Executive Vice President of Cabela's and President and Chief Executive Officer of World's Foremost Bank. Previously Vice President, and President and Chief Executive Officer of World's Foremost Bank, Mr. Friebe will continue to lead World's Foremost Bank. Charles Baldwin, Executive Vice President and Chief Administrative Officer. Michael Copeland, Executive Vice President and Chief Operations Officer.
08:04
STU Student Loan Corp reports Q4 EPS of $1.90 vs. $0.62 a year ago (48.19 )
"I am extremely proud of The Student Loan Corporation's achievements over the past year despite the difficult market environment. We executed our strategy to secure new long-term structural liquidity while transforming the Company into a more efficient organization. We hope to build on this success as we enter what is anticipated to be another challenging year."
08:04
AXK Accelr8 Technology announced the start of a private sale of equity to qualified investors and released updates on corporate events (0.77 )
Co announces announced the start of a private sale of equity to qualified investors and released updates on corporate events. The company began the equity offer after its annual shareholders' meeting on December 16, 2009. Since early October 2009, the company has opened discussions with a number of prospective industry collaborators. The company's ability to do so became possible upon the completion of a technical development agreement with another company, announced September 25, 2009. In October 2009, Accelr8 received notice of allowance on its patent application for the BACcel rapid diagnostics system. This notice follows the prior issuance of U.S. patent 7,341,841 covering the BACcel system's core methods for culture-free rapid microbial pathogen diagnostics.
08:03
IMOS Chipmos Technology says revs for Dec 2009 were $39.9 mln, up 8.9% from Nov 2009 and up 63.9% YoY (0.80 )
Co announces that revs for the month of December 2009 was NT$1,274.7 million or US$39.9 million, an increase of 8.9% from the month of November 2009 and an increase of 63.9% from the same period in 2008. On a quarterly basis, revenues for the fourth quarter of 2009 was NT$3,589.7 million or US$112.4 million, an increase of 7.2% from the third quarter of 2009 and an increase of 17.6% from the same period in 2008. This is above prior expectations that fourth quarter 2009 revenue would be flat to having growth in the single digit percentage, as compared to the third quarter 2009. The Company also announced upwardly revised gross margin guidance for the fourth quarter 2009, primarily due to better than expected revenue. The Company now expects gross margin will be in the range of negative 13% to negative 17%, compared to prior guidance of negative 18% to negative 25%.
08:02
BQI Oilsands Quest announces sale of Pasquia Hills oil shale assets, resignation of CEO and senior management changes (1.14 )
Co announces it has reached an agreement to sell its oil shale assets located near Pasquia Hills in Saskatchewan to Canshale Corp. ("Canshale"). As previously announced, OQI has been examining alternative structures to develop its oil shale assets and provide a separate vehicle for funding and operating these assets, having determined that the best use of OQI's financial and management resources continues to be in developing its significant portfolio of oil sands projects and exploration lands. OQI will sell the oil shale properties to Canshale for consideration of CDN $1 million in cash and 8,000,000 shares of Canshale. The transaction is conditional on Canshale raising a minimum of CDN $12.5 million. Following the initial Canshale financing, OQI will retain an ownership interest of between 10 and 16 per cent in Canshale. Canshale is a private company formed by Christopher H. Hopkins. Mr. Hopkins is the Chairman, President and Chief Executive Officer at Canshale and, effective January 15, 2009, resigned as President and Chief Executive Officer at OQI. Mr. Hopkins remains on the board of directors of OQI and is the chair of the Environment, Health and Safety Committee. He is also a member of the Governance Committee of the board.
08:02
MON Monsanto: Federal Court fnds DuPont is not licensed to use Monsanto's roundup ready trait in combination with the DuPont Optimum GAT Trait (81.16 ) -Update-
The co welcomes the St. Louis Federal Court's ruling that DuPont was not licensed to combine the Roundup Ready trait with the Optimum GAT (OGAT) trait in corn or soybeans. The ruling means that DuPont is not authorized to use the Roundup Ready trait to mask the "unacceptable risks to farmers" posed by DuPont's OGAT trait. "The Court ruled that the Monsanto-DuPont license agreements 'are unambiguous and do not grant Pioneer the right to stack' the Roundup Ready trait with the Optimum GAT trait," said Scott Partridge, chief deputy general counsel for Monsanto. "DuPont negotiated and signed a contract with a specific set of rights, at the financial terms they preferred, and the rights did not include making this stacked combination. This was DuPont's business decision." "The court record further highlights that DuPont was authorized to create any stacked trait product with our Roundup Ready technology other than one such as OGAT, a conscious business decision that they made at the time the contract was negotiated and signed," said Partridge. "DuPont has always had the rights to create a stacked product such as Roundup Ready with its Plenish High Oleic soybean oil product, or adding a second herbicide tolerance mode like its proprietary ALS-herbicide-tolerance combined with Roundup Ready."
08:02
SPY E~mini index futures tick to fresh GLOBEX lows following the release of C quarterly earnings -Technical-
ES - 4.5 as price slips below last weeks/Friday's 1127.50 sell-off low point
NQ -2.75
YM -35
08:01
CRDC Cardica's C-Port Flex-A Anastomosis System to be used for development of surgical robot in Japan (1.99 )
The co announces that the Department of Precision Engineering in conjunction with the Department of Cardiothoracic Surgery at the University of Tokyo will begin development of an Intelligent Surgical Instrument (ISI) cardiac surgery robot, incorporating Cardica's C-Port Flex-A Anastomosis System (Flex-A System) to connect blood vessels during surgical procedures. Research and development for the cardiac surgery ISI is funded by the New Energy and Industrial Technology Development Organization, with industrial support from both Olympus and Terumo Corporations.
08:01
NAV Navistar's Pure Power Technologies acquires Holley EGR Valve Technology (40.37 )
The co has acquired from Holley Performance Products certain assets including intellectual property rights to some of Holley's valve technology for diesel engine exhaust-gas recirculation systems. Pure Power Technologies, a Navistar company, will manufacture the advanced EGR valve at its Blythewood, S.C., plant. Terms of the deal were not disclosed.
07:53
On The Wires
Holly Corporation (HOC) announces that it experienced a fire in the crude unit at its Navajo Refinery in Artesia, New Mexico. The fire was detected on January 17, 2010, and was extinguished after approximately one hour by the refinery's fire fighting team. There were no injuries reported. This unit was scheduled to be shutdown beginning later this week for approximately three weeks for a planned turnaround--primarily for completion of the refinery's crude unit reconfiguration. It is expected all necessary repairs to the unit should be made during this downtime... General Steel Holdings (GSI) announces that it won two contracts to supply an aggregate 240,000 metric tons of steel to support the Xi Luo Du and the Xiang Jia Ba hydropower projects both located in western China... Alcon (ACL) announces that it will purchase the rights in the United States for two FDA-approved topical eye care products from Sirion Therapeutics. The two products purchased are Durezol, a marketed ophthalmic corticosteroid approved for the treatment of inflammation and pain associated with eye surgery, and Zirgan, a recently approved antiviral for the treatment of acute herpetic keratitis. In addition to these marketed products, Alcon also acquired the global rights, excluding Latin America, for Zyclorin. This product is currently in clinical development to treat dry eye and other ocular surface diseases... Netlist (NLST) announces that the United States Patent and Trademark Office issued to Netlist Patent No. 7,636,274 for its invention related to memory load isolation and memory rank multiplication, and Patent No. 7,619,912 for its invention related to memory rank multiplication... SORL Auto Parts (SORL) announces that the Company has entered into two new agreements to better penetrate the agricultural, light truck and alternative energy vehicle segments in China... Sybase (SY) responded to Vertica Systems' press release, issued January 14, regarding Sybase's lawsuit against Vertica for infringement of United States Patent No. 5,794,229. In its press release, Vertica incorrectly states that Sybase has admitted that Vertica's architecture does not infringe the above-referenced patent... Syniverse Technologies (SVR) announces that Vodacom South Africa has selected Syniverse to enhance the operator's mobile roaming operations... FirstRain announces a reseller agreement with FactSet Research Systems (FDS). Under the new agreement, FactSet will offer access to FirstRain's web research engine within FactSet's highly regarded financial software platform. This means that FactSet users will now be able to review and analyze qualitative intelligence from the web within the comprehensive FactSet system. Additionally, FactSet clients will be able to license the full capabilities of FirstRain's powerful new research engine directly from FactSet... Alnylam Pharmaceuticals (ALNY) announces the publication of new data in the journal Nature Biotechnology by Alnylam scientists and collaborators from Tekmira Pharmaceuticals Corporation, AlCana Technologies, and The University of British Columbia. The new study employed a rational design approach for the discovery of novel lipids that can be incorporated into lipid nanoparticles for systemic delivery of RNAi therapeutics. This new research complements the combinatorial chemistry-based approach recently described by Alnylam scientists in the Proceedings of the National Academy of Sciences and highlights the power of using multiple parallel approaches for optimizing LNPs.
07:52
FHN First Horizon misses by $0.11, misses on revs (13.63 )
Reports Q4 (Dec) loss of $0.32 per share, $0.11 worse than the First Call consensus of ($0.21); revenues fell 11.9% year/year to $436 mln vs the $455.7 mln consensus. Net charge-offs were 400 annualized basis points of average loans, down from 424 basis points in prior quarter. Net charge-offs were $182.9 million in fourth quarter compared to $201.7 million in prior quarter. Income CRE and Res CRE net charge-offs ratios increased, all other portfolios were flat or decreased from prior quarter. Current ratios improved and continue to benefit from balance sheet contraction): 7.75% for tangible common equity to tangible assets; 16.3% for Tier I; - 21.8% for Total Capital; 9.8% for Tier 1 Common.
07:49
CNC Centene announced a 5 mln share common stock offering (22.04 )
(Note that earlier this morning, the co filed for a common stock shelf offering for an indeterminate amount).
07:46
IDRA Idera Pharma announces achievement of clinical milestone under its collaboration with Merck for cancer treatment; entitled to receive ~$4.3 mln payment from Merck (4.94 )
Co announces that it has achieved a milestone under its worldwide licensing and collaboration agreement with Merck KGaA (MRK), Darmstadt, Germany. The milestone was achieved upon initiation of a Phase 2 trial by Merck KGaA of EMD 1201081, a novel agonist of Toll-like Receptor 9, in combination with cetuximab (Erbitux) in second-line cetuximab-naive patients with recurrent or metastatic squamous cell carcinoma of the head and neck. Under the terms of the agreement, the Company is entitled to receive a payment of approximately $4.3 mln from Merck KGaA.
07:39
On The Wires
RXi Pharmaceuticals (RXII) announces that new pre-clinical data using proprietary rxRNA compounds was presented at the Keystone Symposia's RNA Silencing: Mechanism, Biology and Application held Jan. 14-19... The first S-70i BLACK HAWK helicopter is nearing completion on the assembly line at PZL Mielec, a Sikorsky Aircraft company in Poland. Sikorsky Aircraft is a subsidiary of United Technologies Corp. (UTX)... GlaxoSmithKline (GSK) Consumer Healthcare alerts consumers that a small quantity of fake weight loss product, falsely packaged and labeled as alli has been sold on online auction websites, such as eBay. The FDA has reassured consumers that "there is no evidence at this time that counterfeit alli products has been sold through other channels, such as retail stores."... National Instruments (NATI) expanded its automated test product line with two new RF signal conditioning modules that enhance the measurement accuracy and flexibility of PXI-based RF and microwave test systems... Frozen Food Express Industries (FFEX) and FFE Transportation Services announces the promotion of two executives. S. Russell Stubbs has been promoted to President of Frozen Food Express Industries and FFE Transportation Services. John T. Hickerson has been promoted to Executive Vice President and Chief Operating Officer... RailAmerica (RA) reported its freight carloads for the month ended December 31, 2009. Total carloads for December 2009, excluding Ottawa Valley Railway, were 67,707, up 6.4% from 63,642 in December 2008... Mesabi Trust (MSB) declared a distribution of $0.55 per Unit of Beneficial Interest payable on February 20, 2010 to Mesabi Trust unitholders of record at the close of business on January 30, 2010. This compares to a distribution of $0.11 per Unit for the same period last year and $0.22... Halozyme Therapeutics (HALO) announces the signing of an exclusive, worldwide, contract research collaboration agreement with BioAtla for the development of novel high throughput recombinant protein screening libraries directed against targets in oncology, aesthetic dermatology and inflammation... AAR (AIR) announces that it has signed a two-year agreement with Hawaiian Airlines to provide maintenance, repair and overhaul services for the airline's Boeing 717 aircraft... VirnetX Holding Corporation (VHC) announces that its patented technology portfolio, derived from a Central Intelligence Agency security project, could be used to help stop Internet fundraising scams associated with disasters like the recent earthquake in Haiti or Hurricane Katrina... EMCOR GROUP (EME) announces that that its University Mechanical & Engineering Contractors subsidiary has received a contract for the installation of mechanical systems at the new U.S. Federal Courthouse in downtown San Diego, California... Tyler Technologies (TYL) announces that it will migrate Angelina County to its latest court technology by providing its integrated case management software solution. The contract, which includes software licenses, installation, maintenance, and support, is valued at more than $1.4 mln.
07:34
FSIN Fushi Intl announces commencement of a public offering for 5 mln shares of common stock (10.51 )
07:33
AMTD TD Ameritrade misses by $0.03, misses on revs (18.32 )
Reports Q1 (Dec) earnings of $0.23 per share, $0.03 worse than the First Call consensus of $0.26; revenues rose 2.3% year/year to $625 mln vs the $634.1 mln consensus. Average client trades per day of approximately 379,000, an increase of 6 percent -- Gross new accounts of approximately 180,000, a decrease of 17 percent. "Despite the ongoing low interest rate environment, we have actually increased our asset-based revenues quarter-over-quarter, largely due to our strong organic growth and the implementation of our new cash management strategy. We also entered the capital markets and refinanced our long-term debt on attractive terms. These efforts, combined with vigilant expense management, strengthen our earnings potential over the balance of the year and beyond."
07:32
SAH Sonic Automotive completes new credit facilities (10.95 )
Co announces that it has entered into new syndicated credit facilities with various financial institutions which mature in August 2012. In addition, Sonic has entered into new floorplan arrangements with several manufacturer-affiliated finance companies for floorplan financing of both new and used vehicles. These new lending arrangements replace Sonic's existing syndicated credit facility which was scheduled to mature in February 2010. Under the terms of the new syndicated credit facilities, up to $321 million of the syndicated credit facility is available for new vehicle inventory floorplan financing, up to $50 million is available for used vehicle inventory floorplan financing and up to $150 million is available for working capital and general corporate purposes.
07:31
HEV Ener1: EnerDel, ITOCHU announce second smart grid battery storage project (5.17 )
American lithium-ion battery producer EnerDel announces that it is partnering with the real estate arm of Japan's industrial trading giant, ITOCHU Corporation, to develop and produce the advanced battery systems for a residential smart grid energy storage project to be installed in a major apartment building near Tokyo. The system will provide a critical link between renewable energy, high-speed charging for electric cars and the local utility grid. It is the second such venture between the two companies, following the announcement last month that they are teaming up with Mazda Motor Corporation on a similar system using vehicles converted to electric drive using a platform designed and built by EnerDel and its partner THINK, which will be stationed at a Family Mart convenience store.
07:31
SONO SonoSite announced the commencement of its previously announced tender offer to repurchase up to $100 mln of its common stock for cash through a modified "Dutch Auction" tender offer (28.16 )
07:31
OSIS OSI Systems awarded approximate $35 mln contract for installation of baggage handling and inline hold baggage inspection systems (30.69 )
Co announces that its Security division, Rapiscan Systems, has been awarded an approximate $35 mln contract from Grupo Aeroportuario del Pacifico for a turn-key aviation security project for the construction and installation of baggage handling systems integrated with the Rapiscan MVXR5000 high-speed multi-view X-ray hold baggage screening systems at multiple Mexican airports.
07:29
DAL Delta Air Lines and SkyTeam issued the statement in response to Japan Airlines restructuring (12.74 )
Delta Air Lines (DAL) and SkyTeam issued the statement in response to the announcement that Japan Airlines (JAL) has entered into court-led financial restructuring under the guidance of the Enterprise Turnaround Initiative Corporation of Japan. "Delta and SkyTeam fully support Japan Airlines and stand ready to provide assistance and support in any way possible. Delta fully expects that JAL, with the support of ETIC, will be successful in its restructuring and return the airline to a position of prominence. Delta went through a similar restructuring process, and as a result emerged in 2007 as one of the most financially sound and the world's largest airline. "JAL customers should continue to book their travel on the flagship carrier of Japan as they will not notice any impact to service as a result of the restructuring. "Delta has been in discussion with JAL in hopes of forming a strategic SkyTeam partnership that would provide significant benefits for JAL and all of its stakeholders."
07:27
OLN Olin declared force majeure at its McIntosh, Alabama facility (17.68 )
Co announced that it has declared force majeure for chlorine, diaphragm grade caustic soda, hydrogen, hydrochloric acid, sodium hypochlorite, and sodium chloride manufactured at its McIntosh, Alabama facility until further notice. The force majeure was declared due to an unexpected equipment failure at the facility, which has caused a production shutdown. Olin is working diligently to minimize the impact of these events and will work to resume production capabilities as soon as possible.
07:26
BLDP Ballard Power, Dantherm, Danfoss invest to create fuel cell backup power systems capability (2.32 )
Co announces that it has acquired a controlling interest in Denmark-based Dantherm Power, partnering with co-investors Danfoss A/S and Dantherm A/S. Dantherm Power develops clean energy backup power systems, utilizing Ballard's hydrogen fuel cell technology, for telecom equipment suppliers. The joint investment and partnering support from Ballard, Danfoss and Dantherm is expected to result in accelerated development of fuel cell backup power applications across Europe.
07:26
PH Parker-Hannifin beats by $0.28, beats on revs; guides FY10 EPS above consensus (58.56 )
Reports Q2 (Dec) earnings of $0.64 per share, $0.28 better than the First Call consensus of $0.36; revenues fell 12.4% year/year to $2.35 bln vs the $2.25 bln consensus. Co issues upside guidance for FY10, sees EPS of $2.40-$2.80 vs. $2.02 consensus. Co states, "With our actions to drive strong margin and cash flow performance taking full effect, and what we believe to be the early signs of a recovery emerging, we are anticipating a strong second half to our fiscal year and have raised our guidance appropriately. Our priorities will remain unchanged as we progress through this fiscal year focused on executing the Win Strategy and managing for cash while simultaneously targeting strong margin performance."
07:15
On The Wires
Cubic Applications (CUB) announces that it will provide military training and strategic advisor services as a member of the AECOM Corporation team for the Africa Peacekeeping Program. AECOM is one of four companies to win the five-year AFRICAP contract, which has a maximum value of $375 mln per company... DURECT Corporation (DRRX) announces that it has begun dosing patients in its U.S. pivotal Phase III clinical trial to evaluate POSIDUR, an investigational drug, for the treatment of post-surgical pain. The pivotal trial, referred to as BESST, is an international, multi-center, randomized, double-blind, controlled trial evaluating the safety, efficacy, effectiveness, and pharmacokinetics of POSIDUR in patients undergoing general surgical procedures. The co expects to enroll ~300 patients at ~20 clinical trial sites in the study... Graymark Healthcare (GRMH) announces that through its wholly-owned subsidiary, Nocturna Sleep Centers, it has entered into a management agreement with Medical Center of McKinney, in McKinney, Texas, to provide sleep diagnostic and treatment services to patients in the Medical Center's sleep center... CAE (CAE) announces that it has sold Airbus A320 and A330 CAE 7000 Series full-flight simulators to Shanghai Eastern Flight Training Company, the training subsidiary of China Eastern Airlines. The contract, valued at approximately C$30 mln at list prices, brings the total FFS sales that CAE has announced during fiscal year 2010 to 14. CAE also announced it received an order cancellation of one simulator that was sold during a prior fiscal year.
07:13
Moody's says Greece's fiscal program addresses short-term challenges
Moody's Investors Service said that the Greek government's Stability and Growth Programme (SGP), which was submitted to the European Commission last week, is consistent with Moody's current A2 rating for Greece's government bonds. However, given the lack of certainty surrounding the Greek government's ability to implement the programme, Moody's negative outlook remains unchanged... The rating agency notes that the SGP addresses the three most important threats to Greece's long-term creditworthiness that Moody's had previously identified: chronically weak fiscal institutions, the slow erosion in competitiveness and accelerating demographic pressures. "Although two key pieces of legislation -- related to pension and tax reform -- are still in consultation, the Greek government has provided enough detail to validate Moody's current rating assessment, since the SGP is not significantly different from what was anticipated," says Ms Carlson. Moody's notes that the SGP aims to partly address formidable and longstanding problems, such as endemic tax evasion and misreporting of financial data, which have undermined the government's credibility and contributed to the government's fiscal problems. The breadth of the legislative programme that the government has outlined for the first quarter of 2010 alone underscores the implementation challenges that the government faces.
07:07
DNN Denison Mining announces expansion of phoenix high-grade uranium discovery on the Wheeler River Property in Saskatchewan (1.52 )
Co reports that high-grade uranium mineralization continues to be encountered on the Phoenix discovery on the Wheeler River Property located in the Athabasca Basin of northern Saskatchewan. The best intersections of the fall 2009 drill program were 32.80% eU3O8, 16.80% U3O8, 12.74% U3O8 and 8.02% U3O8 over 7.6, 9.0, 3.0 and 5.0 metres in holes WR-287, 286, 291A and 290 respectively. In 2010 a CDN$6.0 mln drill program will be carried out, beginning in January, to continue the delineation of this exciting new discovery.
07:06
SGMO Sangamo BioSci annoiunces ZFN-Modified cells well tolerated and able to expand (6.32 )
Co announces that preliminary data from the University of Pennsylvania investigator sponsored Phase 1 safety study of SGMO's zinc finger nuclease based product, SB-728-T, for HIV/AIDS were presented on Jan. 15, 2010 at the Keystone Symposium Session "HIV Biology and Pathogenesis." Dr. June described data from a single HIV- positive subject treated with SB-728-T who, as part of the study, began a structured treatment interruption from his antiviral drug therapy four weeks after SB-728-T treatment. Twelve weeks later, the S.T.I. ended and the subject resumed antiviral therapy. During the study, the subject's CD4+ T-cell count, the number of circulating ZFN-modified cells and viral loads were measured periodically. In addition, rectal biopsies were taken prior to treatment and at the end of the STI period to monitor levels of CD4+ and ZFN-modified T-cells in the GALT. The subject entered the S.T.I. period with stable CD4+ and ZFN-modified T-cell levels and an undetectable viral load. Viral load was monitored with biweekly testing and it was observed that the subject experienced a delay in the return of virus, which was first detectable at six weeks post STI initiation. Previous studies have shown that in subjects undergoing an S.T.I., the average time to detection of an increase in viral load is two to four weeks. At twelve weeks post STI, in accordance with the trial protocol, the subject resumed antiretroviral medication and his viral load decreased. During the monitoring period, the subject continued to demonstrate stable CD4+ T-cell counts and stable levels of ZFN-modified T-cells. In rectal biopsy samples taken at the end of the S.T.I. period, ZFN-modified cells were found in GALT suggesting that these cells circulate and traffic normally.
07:04
WMB Williams Cos confirms strategic restructuring (21.37 ) -Update-
Co announces that it plans to contribute its gas pipeline and domestic midstream businesses plus its limited- and general-partner interests in Williams Pipeline Partners L.P. (WMZ) into Williams Partners. The partnership-transforming restructuring is valued at approximately $12 bln. The gas pipeline assets Williams will contribute to Williams Partners include 100% of Transcontinental Gas Pipe Line Company, 65% of Northwest Pipeline, and 24.5% of Gulfstream Pipeline. Williams will also contribute its general-partner and limited-partner interests in Williams Pipeline Partners, which owns the remaining 35% of Northwest Pipeline. The midstream assets Williams will contribute include its significant, large-scale operations in the Rocky Mountain and Gulf Coast regions, as well as its recently added business in Pennsylvania's Marcellus Shale. These assets encompass seven processing trains totaling 2.3 bln cubic feet per day of capacity in the Rockies and four processing trains on the Gulf Coast. The Gulf Coast processing trains are integrated with five major deepwater oil and gas pipeline systems and two production handling platforms to serve producers in the deepwater Gulf of Mexico. The midstream assets will also include various equity investments in domestic processing and fractionation assets. As consideration for the asset contributions, Williams will receive from Williams Partners cash proceeds of approximately $3.5 bln, less Williams Partners' transaction fees and expenses, plus 203 mln Williams Partners limited-partner units and will maintain its 2% general-partner interest. Williams Partners also will assume ~$2 bln of existing debt associated with the gas pipeline assets. This transaction is expected to be immediately accretive to Williams Partners' distributable cash flow per L.P. unit and is expected to have no material effect on Williams' previous 2009-11 guidance for recurring earnings or cash flows. Williams expects this restructuring will increase recurring earnings and cash flow in the future as it will be able to pursue a greater number of investment and growth opportunities.
07:02
IMA Inverness Medical sells Nutritionals business (43.08 )
The co announces that it has sold its vitamin and nutritional supplements business, which operates under the names Inverness Medical Nutritionals and IVC Industries and constitutes Inverness' entire vitamin and nutritional supplements business segment. Inverness sold the assets of the business, which include manufacturing facilities in Freehold and Irvington, New Jersey, to International Vitamin Corporation, and affiliates, for a total price of approximately $63.4 million in cash, subject to post closing adjustment based on the final working capital of the business. Through the first nine months of 2009, the business generated net revenues of $63.6 million and contributed an operating loss of $2.4 million. As a result of the sale, Inverness' vitamin and nutritional supplements business segment will be presented as a discontinued operation in its financial statements for the fiscal year ended December 31, 2009.
07:02
OGE OGE Energy expects 2009 earnings to exceed the previously announced guidance of $2.30-2.60 vs. the $2.49 consensus (36.38 )
Co expects 2009 earnings to exceed the previously announced guidance of $2.30-2.60 vs. the $2.49 consensus The primary drivers for the higher 2009 earnings expectations are: Higher than previously forecasted results for the Enogex processing business. Colder than normal weather in December in the OG&E service area and lower than previously forecasted operation and maintenance expenses at both businesses. The company continues to forecast an annual long-term earnings growth rate of 5 to 7 percent from 2009 through 2012. OGE Energy will announce and discuss in more detail 2009 results on Feb. 18.
07:01
BLK BlackRock acquires the Helix Financial Group LLC Business (238.09 )
Co announces that it has acquired substantially all the assets of Helix Financial Group LLC, a Charlotte, North Carolina based company that provides advisory, valuation and analytics solutions to commercial real estate lenders and investors. The transaction closed January 15th. Helix will be fully integrated into BlackRock Solutions, a unit of BlackRock that offers a broad range of tools and services designed to help institutions understand and manage their capital markets exposures and risks. The acquisition of Helix further expands the commercial real estate capabilities of BlackRock Solutions -- including its Financial Markets Advisory Group practice. Terms of the transaction were not disclosed.
07:00
HLCS Helicos BioSciences announces the sale of a Helicos(R) Genetic Analysis System to the Turku Centre for Biotechnology (1.12 )
The co announces the sale of a Helicos Genetic Analysis System to the Turku Centre for Biotechnology in Turku, Finland. The center, led by Dr. Riitta Lahesmaa, is a joint facility of the University of Turku and Abo Akademi University. The Turku Center sale represents the 10th sale of a HeliScope Single Molecule Sequencer. To date, 12 Helicos Systems are installed and operating at customer sites at key national and international institutions with an additional, previously announced purchased system, waiting for site preparations to be completed.
06:28
S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: +0.30.
06:28
Asian Markets
Nikkei...10764.90...-90.20...-0.80%. Hang Seng...21677.98...+218.00...+1.00%.
06:28
European Markets
FTSE...5445.43...-48.90...-0.90%. DAX...5870.64...-47.70...-0.80%.
06:26
GNVC GenVec enters collaboration on hearing loss treatments with Novartis (1.74 )
Co announces into a research collaboration and license agreement. GenVec and Novartis (NVS) will collaborate to discover and develop novel treatments for hearing loss and balance disorders. Preclinical results suggest that delivery of the atonal gene using GenVec's innovative adenovector technology may have the potential to restore hearing and balance function. Under terms of the agreement, GenVec is licensing the world-wide rights to its preclinical hearing loss and balance disorders program to Novartis. GenVec will receive a $5 mln upfront payment and Novartis has purchased $2 mln in GenVec common stock. In addition, GenVec will receive funding from Novartis for a research program focused on developing additional adenovectors for hearing loss. If certain clinical, regulatory and sales milestones are met, GenVec is eligible to receive up to $213.6 mln, including upfront and milestone payments, in addition to royalties on future sales.
06:10
DGW Duoyuan Global Water announces preliminary Q4 and FY09 results (34.99 )
Co announces selected preliminary unaudited financial results for the full year and quarter ended December 31, 2009. The audit of the Company's consolidated financial statements as of and for the year ended December 31, 2009 has not been completed and changes may result during the completion of the Company's audit. For the full year, the Company believes revenue will be RMB781.5 mln to RMB785.3 mln and net income will be RMB113.0 mln to RMB116.8 mln. For the fourth quarter, the co believes revenue will be RMB191.9 mln to RMB195.8 mln vs RMB190.55 mln consensus and net income will be RMB35.8 mln to RMB39.6 mln.
06:08
MAXY Maxygen announces its subsidiary, Perseid Therapeutics, achieved a preclinical milestone under its collaboration with Astellas Pharma (5.51 )
Co announces its majority-owned subsidiary, Perseid Therapeutics LLC, achieved a preclinical milestone under its collaboration with Astellas Pharma Inc. to co-develop and commercialize next-generation CTLA4-Ig therapeutics. Perseid has received a $5 mln payment from Astellas for achievement of this milestone.
06:06
SSYS Stratasys announces it has signed a definitive agreement with HP for Stratasys to manufacture an HP-branded 3D printer (18.63 )
Co announces it has signed a definitive agreement with HP for Stratasys to manufacture an HP-branded 3D printer. Under the terms of the agreement, Stratasys will develop and manufacture for HP an exclusive line of 3D printers based on Stratasys' patented Fused Deposition Modeling technology. HP (HPQ) will begin a phased rollout of the 3D printers in the mechanical design (MCAD) market in selected countries later this year, with the right to extend distribution globally.
06:06
On The Wires
INX (INXI) announces that it has been awarded a $671,000 contract for a project at Santa Fe Indian School... Netlist (NLST) announces that the United States Patent and Trademark Office issued to Netlist Patent No. 7,636,274 for its invention related to memory load isolation and memory rank multiplication, and Patent No. 7,619,912 for its invention related to memory rank multiplication... Bridgepoint Education (BPI) announces that Ashford University has entered into an alliance agreement with the Science Applications International Corp.
06:03
UIS Unisys reaches agreement to sell health information management business to Molina Healthcare (34.97 )
Co announces that it has signed an agreement to sell its health information management business to Molina Healthcare (MOH 23.20) for approximately $135 million in cash. The Unisys HIM business provides system solutions and business process outsourcing services to state governments for administration of their Medicaid and other state health care entitlement programs.
05:05
XRA Exeter Resource plans to undertkake spin-out transaction to create two independent companies (8.07 )
Co's Board unanimously approves a proposal to undertake a spin-out transaction pursuant to which the assets of Exeter would be separated into two companies. Under the terms of the proposed transaction, Exeter will retain all assets relating to the Caspiche gold-copper discovery, together with approx $50 mln in working capital. Exeter will transfer to a new corporation, Newco, Exeter's Cerro Moro and other exploration properties in Argentina and approx $25 mln in working capital. Newco will then become an emerging gold-silver producer, focused on the high grade Cerro Moro gold-silver project in Argentina. It will be a condition to the closing of the transaction that Newco obtain conditional approval for the listing of its common shares on a major stock exchange.
03:08
EDU New Oriental Education & Technology misses by $0.02, misses on revs (72.13 )
Reports Q2 (Nov) GAAP earnings of $0.03 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of $0.05; revenues rose 23.9% year/year to $61.2 mln vs the $61.8 mln consensus.
03:02
ADG Allied Defense Group announces definitive merger agreement with Chemring Group plc (4.71 )
Co announces that it has signed a definitive merger agreement with Chemring Group plc. Chemring has agreed to acquire The Allied Defense Group in an all-cash transaction valued at $7.25 per share.
02:24
MON U.S. Supreme Court to review delay on Roundup Ready alfalfa (81.16 )
The U.S. Supreme Court announces it has granted co petition for review of a federal district court order which halted planting of Roundup Ready alfalfa in 2007, pending completion of an environmental impact statement by the U.S. Department of Agriculture.
02:22
DD DuPont to proceed with license, antitrust, patent fraud claims against Monsanto (34.01 )
In response to a motion filed by Monsanto (MON) in 2009, the U.S. District Court ruled that the Roundup Ready license agreements between DuPont (DD) and Monsanto contain an unwritten term that prohibits DuPont from stacking its Optimum GAT trait with Monsanto's Roundup Ready trait in soybeans or corn. Describing its ruling as "narrow," the court also emphasized that DuPont's separate antitrust and patent fraud claims were not impacted by its ruling and would, therefore, proceed.
02:17
BIDU Baidu announces that Chief Technology Officer Yinan Li has resigned for personal reasons (467.68 )
02:09
KOSS Koss appoints David D. Smith as Chief Financial Officer (3.90 )
02:07
On The Wires
AstraZeneca (AZN) and Dako Denmark A/S announce that they have entered into a collaboration agreement to develop companion diagnostic tests for multiple AstraZeneca oncology projects, including biologics and small molecules, in various stages of discovery and development... St. Jude Medical (STJ) announces regulatory approval from the Japanese Ministry of Health, Labor and Welfare for the Genesis spinal cord stimulation system for the management of chronic pain... Covidien (COV) announces the extension of its agreement with Allergan (AGN) to jointly promote Allergan's LAP-BAND System in the U.S... Holly (HOC) reports that it experienced a fire in the crude unit at its Navajo Refinery in Artesia, NM; the fire was detected at approx 3:30 AM MST on January 17, 2010, and was extinguished after approx one hour by the refinery's fire fighting team... Fortune Industries (FFI) announces Tena Mayberry has been named Chief Executive Officer, effective January 18, 2010.
02:02
BGP Borders Group reports holiday sales results (1.36 )
Co reports results for the 11-week holiday period ended Jan. 16, 2010. Total consolidated sales were $846.8 mln, a 13.7% decrease compared to the same period last year. Comparable store sales at Borders superstores declined 14.6%.
02:00
BBEP BreitBurn Energy Partners LP announces recent court order regarding Quicksilver lawsuit (12.77 )
Co announces that, with regard to the lawsuit filed by Quicksilver Resources (KWK) against the Partnership, the trial court in Fort Worth, TX, issued an order on Friday which declined to enter a mandatory injunction requested by Quicksilver requiring that an annual meeting be held by March 23, 2010, but granted a temporary injunction "enjoining BreitBurn LP and BreitBurn GP from giving effect to the 'Revised Amendment No. 1 to the First Amended and Restated Agreement of Limited Partnership of BreitBurn Energy Partners L.P. purportedly adopted by BreitBurn GP's Board of Directors on December 29, 2009."
01:56
TISI Team announces non-routine charge associated with Venezuelan currency devaluation (19.50 )
As a result of Venezuelan government's intention to devalue its currency (Bolivar), Team will take a non-routine pre-tax charge which is expected to be approx $1.8 mln in the third quarter ending February 28, 2010. The charge will be presented in the co's statement of operations as "other expense" below the "operating income" line. The after-tax effect of this charge is expected to be approx $0.06 per fully diluted share. After the devaluation, the co's net assets in Venezuela will be less than $1.0 mln. Excluding the impact of this non-routine charge, the devaluation of the Bolivar does not affect previously affirmed earnings guidance for FY10 of $0.85 to $1.05 per fully diluted share.
01:52
CAL Continental Airlines announces special items for 4Q09 and FYO9
Co expects to record $77 million of special charges during 4Q09 ($145 mln for FY09). Continental also expects to record a non-cash income tax benefit during 4Q09 and for the year ended Dec. 31, 2009.
01:50
CFL Tyco Int'l to acquire Broadview Security for $42.50/share in cash and stock (31.42 )
Tyco Int'l (TYC 37.54) and Brink's Home Security Holdings annouce a definitive agreement for Tyco to acquire Brink's Home Security Holdings, now operating as Broadview Security. Following the closing of the transaction, Tyco intends to combine Broadview with Tyco's ADT security business. The cash and stock transaction is valued at $42.50 per share or approx $2.0 bln. The transaction has been unanimously approved by the board of directors of each co. Excluding transaction and integration-related expenses, Tyco expects the transaction to become accretive to earnings before special items by approx $0.07 in the first full year after closing, increasing to approx $0.14 in year two. The combination is expected to result in operating synergies of approx $150 mln.
01:45
On The Wires
Life Partners Holdings (LPHI) announces that it has been advised by Eide Bailly LLP that the firm has resigned as the co's independent registered public accounting firm effective January 13, 2010... The Hanover Insurance Group (THG) announces that it has entered into a definitive agreement through which it will acquire the Vienna, Virginia-based Campania Group, which specializes in insurance solutions for the healthcare industry.
01:42
On The Wires
Shaw Communications (SJR) announces that it has agreed to purchase for cancellation 1.6 mln of its outstanding Class B Non-Voting Participating Shares, or approx 0.39% of the Class B Shares outstanding as at December 31, 2009, pursuant to a private agreement between Shaw and an arm's length third party seller for an aggregate purchase price of $30,505,600... Results from a study of more than 90,000 Italian women published by the Lancet Oncology found that testing for high-risk types of the human papillomavirus DNA is significantly more effective in preventing invasive cervical cancer than cytology alone; the trial used QIAGEN's (QGEN) digene HPV Test which detects the high-risk types of HPV that can cause cervical cancer... Kra Polymers (KRA) announces European SBS price increases
01:38
NXG Northgate Minerals reports record gold production of 362,743 ounces in 2009 (3.31 )
Co reports gold production of 81,098 ounces in 4Q09, bringing full year production to 362,743 ounces of gold. Fosterville achieved the highest quarterly gold production in the history of the mine, producing 26,615 ounces of gold. Full year production at Fosterville of 103,360 ounces of gold was also a record high.
01:36
DIT AMCON Distributing reports 4Q09 EPS of $2.32 (no estimates); revenues increased 12.2%year/year to $243.94 mln (no estimates) (61.20 )
01:08
OMN OMNOVA Solutions reports 4Q09 results (6.04 )
Reports Q4 (Nov) earnings of $0.25 per share, includes restructuring, severance, asset impairment and other charges of $0.4 million, compared to $0.3 million in the 4Q08, and may not be comparable to $0.15 First Call consensus; revenues declined 14.0% year/year to $188.8 mln vs $172.4 mln consensus.
17:13
Reminder: U.S. markets are closed on Monday in observance of the Martin Luther King Jr. holiday
17:04
AVGO Avago Tech raises Q1 revs above consensus (18.24 -0.19) -Update-
Co raises Q1 revs to be up 3-5% sequentially, which equates to ~$440.8-449.4 mln vs. $421.0 mln First Call consensus, up from prior guidance of flat to down 3%, which equates top ~$415.2-428 mln. The improvement in forecasted results for Q1 is primarily the result of stronger than anticipated sales in the wired infrastructure and industrial target markets. In addition, during the quarter to date the Company has seen a degree of price stabilization across all of its target markets.
17:02
WIRE Encore Wire announced that the co paid off its $100 mln of senior notes (20.33 -0.25)
16:52
AVGO Avago Tech registers to sell 25 mln shares of common stock for shareholders in an S-1 filing (18.24 -0.19)
16:50
AREX Approach Resources files $150 mln mixed shelf securities offering (8.27 -0.31)
16:49
PRGN Paragon Shipping files 9.2 mln share secondary, priced at $5.08 in an F-3 filing (5.14 -0.02)
16:46
RAIL RailAmerica reports December 2009 monthly carloads (20.84 -0.33)
Co y reported its freight carloads for the month ended December 31, 2009. Total carloads for December 2009, excluding Ottawa Valley Railway, were 67,707, up 6.4% from 63,642 in December 2008.
16:41
TYC Tyco International seeks shareholder approval to increase dividend by 5% (37.54 +0.26)
16:37
PPG PPG Industries: Fitch affirms PPG Industries' IDR at 'A-'; outlook to stable (62.05 -0.74)
Fitch Ratings has affirmed its ratings on PPG Industries, Inc. (NYSE: PPG) as follows: --Long-Term Issuer Default Rating (IDR) at 'A-'; Senior unsecured debt at 'A-'; Short-Term IDR at 'F2'; Commercial paper at 'F2'. The Rating Outlook has been revised to Stable from Negative. The rating affirmations reflect a geographically well-balanced company with a heightened focus on its coatings and optical businesses, consistent strong earnings, and excellent cash flow. Risk factors include a higher leverage profile, the cyclicality of certain of PPG's end-markets, often volatile raw materials and energy costs, and the company's exposure to asbestos litigation.
16:25
FPIC FPIC Insurance Group announces 3-for-2 stock split (37.97 -0.69)
16:01
CRRC Courier announces that it has acquired Highcrest Media (13.20 +0.19)
Co announces that it has acquired Highcrest Media, a provider of software and solutions that streamline the production of customized textbooks for use in colleges, universities and businesses. Courier's acquisition of Highcrest complements its recent investment in digital printing technology, which is also suited to the capacity and efficiency needs of this growing market. The acquisition is expected to be modestly accretive to Courier earnings for its 2010 fiscal year. Acquisition terms were not disclosed.
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