Briefing.com: Hourly In Play (R) – 23:00 ET
Jun 29, 2010 (Briefing.com via COMTEX) -- Hourly In Play (R)
Updated: 29-Jun-10 23:00 ET
18:29
VGZ Vista Gold announces new exploration target discovery at its Mt. Todd gold project (1.70 -0.05)
Co announced today the discovery of a new exploration target located on its Exploration Tenements held together with the Mining Leases at the Company's Mt. Todd gold project in Northern Territory, Australia. Vista also provided updates on the progress of a drilling program at the Batman deposit and announced that the Pre-Feasibility Study for the Mt. Todd gold project is nearing completion.
18:17
Futures are lower after hours with S&P 500 futures 4.21 points below fair value of 1037.31 and Nasdaq 100 futures 2.32 points below fair value of 1763.32
18:15
LAD Lithia Motors announces extension of revolving credit facility (6.15 -0.54)
Co announced that it entered into an amendment to its revolving credit facility with US Bank. Pursuant to such amendment, the maturity date was extended from October 28, 2010 to June 30, 2013, the size of the facility was increased from $50 mln to $75 mln , and the interest rate on the facility was reduced from L1 + 3.25% to L1 + 2.75%.
18:04
PLA Playboy Enterprises Announces Restructuring (4.08 -0.19)
Co announced that it is downsizing its organizational structure and expects to record a restructuring charge of ~$3.0 mln in the 2010 Q2 as a result.The co said it expects Q2 restructuring will result in cost savings of more than $3.0 mln annually.
18:04
PEIX Pacific Ethanol production subsidiaries exit bankruptcy (0.46 -0.09)
Co announced the emergence from bankruptcy of Pacific Ethanol Holding Co. LLC ("PEH") and PEH's four wholly-owned ethanol production facility subsidiaries (the "Plant Subsidiaries"), effective today, June 29, 2010. The Company has eliminated ~$290 mln in debt and other liabilities from its balance sheet. The bankruptcy did not affect the Co's ownership structure and the Co continues to be owned by its existing common and preferred stockholders.
17:40
BMY Bristol-Myers: The Government agrees to dismiss all charges against Richard Lane as part of a deferred prosecution effectively ending the criminal case of United States v. Schiff and Lane (25.29 -0.28)
Co announced today in Federal Court in the District of New Jersey, the Government filed a deferred prosecution agreement agreeing to dismiss all criminal charges pending against Richard Lane and his co-defendant, Fred Schiff. The Honorable Faith S. Hochberg signed the deferred prosecution agreements dismissing the charges, initially filed in 2005, as part of a criminal investigation into Bristol-Myers Squibb's accounting and disclosure practices.
17:16
DEI Douglas Emmett announces acquisition of largest office project in Hawaii (14.54 -0.57)
Co announced that it has acquired Bishop Square, an office project containing approximately 960,000 square feet located in Honolulu, Hawaii for a contract price of $232 million, or $242 per square-foot. This transaction increases the Co's Class "A" market share to 36% from 15% in the Honolulu Central Business District.
17:02
WBS Webster announces sale of shares in Higher One (ONE) initial public offering at $12.00 (18.61 -1.01)
Co announced that in the initial public offering of Higher One Holdings (ONE) that commenced trading on June 17, 2010 it had sold 594,107 shares of common stock at $12.00 per share. WBS had indicated its desire to sell all of the 1,200,000 shares that it owned in ONE but was scaled back to 594,107 shares through the initial public offering process. As a result of the sale, WBS realized net proceeds of ~$6.6 mln that will result in an expected gain of ~$6.4 mln in its financial results for Q2 of 2010.
17:01
VISN VisionChina Media announces subscription for common shares by Chairman, Director, employees and other investors at $3.22 (3.11 -0.19)
VISN announced that the Company and Mr. Limin Li, the chairman and chief executive officer of the Company, Ms. Yanqing Liang, a director of the Co, certain employees of the Co and other investors, including affiliates of Milestone Capital Partners, an existing investor in the co (together, the "Investors") have entered into a definitive agreement on June 25, 2010 pursuant to which the Co will issue and sell to the Investors, and Investors will subscribe for and purchase, an aggregate of 4,006,474 common shares of the Co at a subscription price of US$3.22 per share, equivalent to US$3.22 per American depositary share
16:57
GAIN Gladstone Investment announces $21.7 mln sale of equity investment and $30.6 mln debt repayment in A. Stucki (5.90 +0.02)
16:51
EPD Enterprise to significantly expand Eagle Ford Shale capabilities with new construction projects (3.26 -0.35)
Co announced several new construction projects that will further extend and expand its natural gas and natural gas liquids (NGL) infrastructure in South Texas and Mont Belvieu, Texas to accommodate growing production volumes from the Eagle Ford Shale play. As part of the initiative, EPD plans to install 350 miles of pipelines, build a new natural gas processing facility, and add a new NGL fractionator at the Mont Belvieu complex near the Houston Ship Channel... EPD soon will be able to fill the existing 1.5 bln cubic feet per day (Bcf/d) of capacity at its seven South Texas natural gas processing facilities.
16:51
KOG Kodiak Oil & Gas provided an interim update on its Williston Basin oilfield activities; Bakken short lateral well IPs at 1,517 BOE/d on 24-hour test (3.27 -0.27)
The Moccasin Creek #13-34-3H well [co operated - 60% working interest (WI) / 49% net revenue interest (NRI)], a 4,330-foot horizontal lateral, was successfully completed in 11 stages in early June 2010. The well recorded 24-hour initial production rates of 1,370 barrels of oil per day and 858 thousand cubic feet of natural gas per day, or 1,517 barrels of oil equivalent per day. Co completed the 24-hour production test utilizing a 22/64" choke with flowing casing pressure of 1,750 psi. Since coming online in early June 2010, the well has cumulative production of 9,500 barrels of oil and 10,500 barrel of oil equivalent per day in the first 12 days of production. Co is currently drilling ahead on the TSB # 14-21-16-2H (co operated - 50% WI / 41% NRI), a projected 9,000-foot lateral targeting the Bakken Formation in Dunn County. This well is the second of four wells being drilled from the TSB drilling pad, one of which is planned to test the productive potential of the Three Forks Formation. It is expected that these four wells will be completed in the fourth quarter of 2010.
16:51
SLI SLI Inc names William T. Fejes Jr. Chief Executive Officer (11.75 0.00)
Co announced that William T. Fejes, Jr. has been named President and Chief Executive Officer of the Company, effective immediately. Fejes formerly served as Chief Operating Officer of Seakeeper, Inc. From 2004 to 2007, Mr. Fejes served as President and Chief Executive Officer of TB Wood's Corporation, a
16:50
TGH Textainer Group Holdings Limited announces extension and increase to securitization facility
Co announced that Textainer Marine Containers Limited, co's primary asset owning subsidiary, extended and increased the size of its securitization facility. The total commitment under the securitization facility increased from $475 mln to $750 mln. The interest rate is 2.75% over LIBOR during an initial two-year revolving period. If the securitization facility is not refinanced or renewed during this two-year period, the facility is structured to amortize over 10 years, but not to exceed the maximum term of 15 years.
16:49
IVN Ivanhoe Mines announces early exercise of warrants by Rio Tinto (13.35 -1.59)
Co annonced Robert Friedland, Executive Chairman of IVN, and John Macken, President and Chief Executive Officer, announced that Rio Tinto (RTP) has exercised its Series A warrants four months ahead of schedule, providing Ivanhoe Mines with proceeds of US$393.1 mln to help fund the development and construction of the Oyu Tolgoi copper-gold mining complex in Mongolia. The warrants entitled RTPto acquire 46.03 mln Ivanhoe Mines common shares at a price of US$8.54 per share.
16:38PARL Parlux Fragrances reports Q4 ($0.73) vs. ($0.21); revs fell 37% to $17.7 mln (1.73 +0.02)
16:37
ROL Rollins' Orkin will begin providing pest control service in Turkey in the second half of 2010 (20.85 -0.55)
16:14
OCZ OCZ Tech reports Q1 EPS of Non-GAAP $0.11 vs. Non-GAAP $0.19 in the prior quarter last year; revs fell 4% YoY to $34.3 mln (3.00 )
Co sees FY11 revenue of $200-215 mln, with growth primarily in the SSD product lines.
16:10
ACI Arch Coal licenses ADA-ES Coal Enhancement Technology (19.81 -1.79)
Arch Coal (ACI) and ADA-ES (ADES) announced that the two companies have finalized the previously announced exclusive development and licensing agreement for a promising ADA-ES technology aimed at reducing combustion-related emissions of mercury and other metals from PRB coal. In consideration for certain ADA development work and the exclusive license to Arch, ADA-ES will receive an upfront payment of $2 million and royalty payments that could amount to as much as $1 per ton of coal sold by Arch, depending upon the successful implementation of the technology and Arch's future sales of the resulting enhanced coal product.
16:07
UNFY Unify Corp and Daegis to merge; UNFY will pay ~$38 mln (3.46 )
Under the terms of the agreement, Unify will pay ~$38 mln in a combination of cash, seller financing and stock, detailed more fully below. For the twelve months ended April 30, 2010, Daegis generated approximately $23 million in revenue and $6.5 million in adjusted EBITDA. The transaction is expected to be immediately accretive to earnings per share.
16:07
GIS General Mills reports EPS in-line, revs in-line; guides FY11 EPS below consensus (36.88 -0.52)
Reports Q4 (May) earnings of $0.41 per share, in-line with the Thomson Reuters consensus of $0.41; revenues fell 2.1% year/year to $3.57 bln vs the $3.55 bln consensus. Co issues downside guidance for FY11, sees EPS of $2.46-2.48 vs. $2.50 Thomson Reuters consensus.
16:06
ENB Enbridge to invest $500 mln in 250-megawatt Colorado wind energy project (46.03 -1.79)
16:06
EXFO EXFO misses by $0.01, reports revs in-line; guides Q4 EPS below consensus, revs in-line (5.30 +0.00)
Reports Q3 (May) net of breakeven, $0.01 worse than the Thomson Reuters consensus of $0.01; revenues rose 45.0% year/year to $63.2 mln vs the $62.9 mln consensus. Co issues mixed guidance for Q4, sees EPS of ($0.01) to $0.03 vs. $0.07 Thomson Reuters consensus; sees Q4 revs of $61-66 mln vs. $65.27 mln Thomson Reuters consensus.
16:05
LZ Lubrizolauthorized expansion of company's share repurchase program that permits Lubrizol to repurchase up to 7.2 million of its common shares (79.39 -4.04)
Co's board authorized an expansion of the company's share repurchase program that, combined with its existing program, permits Lubrizol to repurchase up to 7.2 million of its common shares, effective immediately. This authorization represents approximately 10 percent of the company's common shares currently outstanding. Year-to-date 2010, the company repurchased 1.575 million shares for $125.5 million for an average price of approximately $80 per share.
16:05
CBST Cubist Pharma announces all objectives met in Phase 2 CXA-101 complicated urinary tract infections study (20.84 -0.70)
Co announced that the recently-completed Phase 2 study of CXA-101, a novel cephalosporin, compared to ceftazidime for the treatment of complicated urinary tract infections (cUTI) in adults met its study objectives. The study met its objectives of assessing safety and efficacy of CXA-101 in comparison to ceftazidime. CXA-101 additionally demonstrated favorable microbiological and clinical outcomes at the Test of Cure Visit, 6 - 9 days after end of therapy, which were the primary and secondary outcome measures in this study, respectively.
16:04
ETRM EnteroMedics approved a 1-for-6 reverse split of its common stock effective upon close of July 9 (0.47 -0.01)
16:03
TIBB TIB Fincl: North American Financial Holdings to invest $175 million in TIB Financial (0.65 -0.06)
TIB Financial, parent company of TIB Bank and Naples Capital Advisors announced that the bank holding company North American Financial Holdings has agreed to invest approximately $175 million in TIB through the purchase of newly issued shares of TIB common stock and convertible preferred stock. In addition, during the 18-month period following the closing of its initial investment in TIB, NAFH will have the right to invest up to an additional $175 million. (Stock is Halted)
16:02
CACI CACI Intl sees FY11 revs in-line with consensus; reiterates 2010 guidance (41.53 -0.87) -Update-
CACI issues in-line guidance; co sees FY11 revs of $3.25-3.40 bln vs. $3.34 bln Thomson Reuters consensus; sees EPS $3.70-3.90 vs $3.74 consensus. Co said, "Our FY11 annual guidance reflects our strong confidence in our growth strategy to provide mission-critical services in well-funded areas to support national security priorities. We expect to build on our competitive advantages, leverage the innovation in our core competencies, and capitalize on attractive opportunities in existing, adjacent, and new markets, organically and through acquisitions. We expect the continuing asymmetric threats to our national security will drive the strong demand for our distinctive services." Co also reiterated 2010 EPS of $3.38-3.50 vs. $3.44 consensus, sees revs of $3.05-3.125 bln vs. $3.10 bln consensus.
16:02
ADK AdCare Health Systems proposes offering of common stock (3.81 -0.11)
16:01
MELA Electro Optical Sciences announces proposed public offering of common stock (8.30 -0.56)
16:01
CALM Cal-Maine Foods reports fire at Shady Dale, GA facility (32.55 -1.21)
Co announced that its egg complex in Shady Dale, GA, was damaged by a fire on June 28, 2010. The loss is fully insured, including the loss of production. The fire destroyed one of the 12 layer houses, with additional loss of laying hens at three adjoining houses due to smoke inhalation. There were no personal injuries sustained and no physical damage to the rest of the complex. An investigation is underway to determine the origin of the fire.
16:01
IAG IAMGOLD announce the start-up of its Essakane gold mine in Burkina Faso in West Africa (17.62 -0.81)
Co announced the start-up of its Essakane gold mine in Burkina Faso in West Africa, six weeks ahead of the previous production schedule and a full six months ahead of the original target of year-end 2010. The Company began processing ore last week and the mill is operating as planned.
16:00
MRK Merck wins case filed by Louisiana Attorney General involving VIOXX (35.43 -0.51)</p>
16:00
TOMO Tomotherapy selected by Premier Healthcare Alliance for supply agreement (3.01 -0.08)
The co announces that it has signed an equipment supply group purchasing agreement with Premier Purchasing Partners, the group purchasing unit of Premier. The agreement provides TomoTherapy greater reach into Premier's not-for-profit hospitals and health centers, which includes 2,300 U.S. hospitals and more than 67,000 other healthcare facilities, while enabling Premier members to access special pricing and terms for innovative radiation oncology solutions and establishing a streamlined purchasing solution for them.
15:50
VXX Global & sector ETF movers- Safety Assets (TLT, FXY, UUP) maintain gains in late trading along with VIX volatility measures (VXX, VXZ); Commodities (SLX, XME, KOL) pace the percentage decliners -Technical-
The Actively Traded Leading Global & Sector ETFs:
VIX vol index- VXX +10.50%, VXZ +7.50%, US bonds & fixed income- TLT +1.0%, TLH +0.50%, IEF +0.50%, BND +0.25%, Yen currency shares- FXY +1.0%, US Dollar index- UUP +0.50%
The Actively Traded Lagging Global & Sector ETFs:
SPDRS metals & mining- XME -6.75%, steel- SLX -6.50%, coal- KOL -6.50%, iShares Spain- EWP -6.0%, iShares Brazil- EWZ -5.75%, global shippers- SEA -6.0%, airlines- FAA -5.50%, iShares Australia- EWA -5.50%, ISE Revere nat gas index- FCG -5.25%, copper- JJC -5.25%, iShares Canada- EWC -5.0%, Russia- RSX -5.0%, clean energy- PBW -5.25%, solar power- TAN -5.50%, internet index- FDN -5.0%, SPDRS homebuilders- XHB -5.0%, iShares Italy- EWI -5.25%
15:49
SPY Additional declines in late trade, S&P -38 sets new 2010 intraday low -- Nasdaq -95, Dow -320 -Update- -Technical-
15:44
Earnings Calendar
Today after the close look for EXFO, GIS, and ZZ to report. Tomorrow before the open look for the following companies to report: AYI, AM, CSIQ, LNN, MON, and UNF.
15:41
Conferences and Shareholder/Analyst Meetings of Interest
Events of interest of interest for tomorrow, June 30, include: BCS Global Retail Banking Investor Seminar 2010; RDEN, SBUX, BBY, RUTH at Oppenheimer Consumer, Gaming, Lodging & Leisure Conference; TDG Analyst Meeting. Fed/Treasury: Fed's Evans; Fed's Duke; Fed's Lockhart.
15:25
SPY S&P -35 slides to new 7 month low, vacillating near its 8 month close low from last Oct at 1036 -- session low 1037 -Update- -Technical-
15:23
AAPL Apple retreats back near its session low and 50 ema at 255.24/254.91 (255.44 -12.87) -Update- -Technical-
15:22
SPY Stock indices slip to new lows in unison -- Dow -287, S&P -35, Nasdaq -88 -Update- -Technical-
15:19
BAC Bank of America slipping back toward its session low and 11 month close low from Feb at 14.48/14.45 (14.50 -0.74) -Technical-
The 2010 intraday low from Feb is at 14.25.
15:11
QQQQ Nasdaq Comp -75 sets fractional new low but it has not been confirmed yet by the Nasdaq 100 -61/Dow -245 /S&P -30 -Update- -Technical-
15:04
RDY Dr. Reddy's announced that it has launched anastrozole tablets, a bioequivalent generic version of AstraZeneca's (AZN) Arimidex in the U.S. (30.90 -0.96)
15:01
COMDX Commodities
July corn closed 8.75 cents lower at $3.25 per bushel, November soybeans closed lower by 7.75 cents at $9.4725 per bushel, Sept wheat closed 7.5 cents lower at $4.42 per bushel, July ethanol closed $0.025 lower at $1.475, October world sugar futures closed 0.54 cents lower to 15.28 cents.
14:59
TEVA NASDAQ 100 (NDX) strength & weakness- Pharma/Drug name (TEVA) continues to be the lone gainer in the index heading into the final hour of trading -Technical-
NDX 10 Best % Performers:
TEVA
NDX 10 Worst % Performers:
FLEX, BIDU, FWLT, NIHD, WYNN, DISH, AMZN, SNDK, JOYG, ADBE
NASDAQ A/D -2165
NASDAQ TRIN +3.65
14:57
VZ Dow 30 (INDU) strength & weakness- Telecom name (VZ) recently turns positive heading into the fianl hour o trading; 29 of 30 components trade with losses -Technical-
INDU 5 Best % Performers:
VZ
INDU 5 Worst % Performers:
BA, AA, CAT, AXP, BAC
NYSE A/D -2550
NYSE TRIN +3.80
14:50
MEE Massey Energy vacillating near its early June/previous 8 month low at 28.22 (28.22 -1.98) -Technical-
14:02
CEG Constellation Energy, GE, Qualcomm and Verizon Ventures make Cleantech investment in smart grid company consert (33.22 -0.94)
Consert, a smart grid technology provider, announced that Constellation Energy (CEG), GE Energy Financial Services, a unit of GE (GE), Qualcomm Incorporated (QCOM), Verizon Ventures (VZ) and private investors have invested $17.7 million to fund strategic marketing, North American sales and ongoing enhancements of Consert's advanced smart grid software.
14:01
FIS Fidelity National Information Services completes amendment and extension of credit agreement and plans to enter new Term Loan B agreement (27.01 -0.39)
13:41
SPY S&P -32 and Nasdaq Comp -76 slip slightly under morning lows -- Dow -269 still hovering just above its low -Update- -Technical-
The S&P is still holding near its Feb/May/June lows (1044/1040 -- session low 1041) while the Nasdaq Comp at its May/June trough (2140/2139 -- session low 2142).
13:09
C Citigroup resumes trading (3.78 -0.22) -Update-
13:04
C Citigroup halted with circuit breaker (3.31 -0.68)
13:04
ANSW Answers has reached 5 mln registered users (7.45 -0.21)
13:03
DUK Duke Energy and Cisco to deliver smart grid-enabled home energy mgmt solution (16.14 -0.20)
Co signed an agreement with Cisco (CSCO) to pilot and further develop a smart grid-enabled home energy management solution that will provide Duke Energy customers with energy information and tool to help them reduce the amount of energy wasted in their homes.
12:55
AXU Alexco Resources and the First Nation of Nacho Nyak Dun sign comprehensive cooperation and benefits agreement (3.12 -0.13)
12:45
VXX Global & sector ETF movers- Saftey Assets (TLT, FXY, UUP) & Volatility measures (VXX, VXZ) still lead @ midday; Spain (EWP) leads all global decliners -Technical-
The Actively Traded Leading Global & Sector ETFs:
VIX vol index- VXX +6.75%, VXZ +5.0%, Yen currency shares- FXY +1.0%, US bonds & fixed income- TLT +0.50%, TLH +0.25%, IEF +0.25%, AGG +0.25%, gold- GLD +0.50%, US Dollar index- UUP +0.50%
The Actively Traded Lagging Global & Sector ETFs:
iShares Spain- EWP -5.50%, steel- SLX -5.0%, coal- KOL -5.0%, copper- JJC -5.0%, global shippers- SEA -4.75%, iShares Italy- EWI -4.75%, SPDRS metals & mining- XME -4.50%, base metals- DBB -4.50%, airlines- FAA -4.50%, iShares Australia- EWA -4.50%, iShares Brazil- EWZ -4.50%, solar power- TAN -4.50%, BRIC countries- BKF -4.25%, Russia- RSX -4.0%, clean energy- PBW -4.0%, iShares S Korea- EWY -4.0%, ISE Revere nat. gas index- FCG -3.75%
12:31
TEVA NASDAQ 100 (NDX) strength & weakness- Pharma/Drug name (TEVA) continues to be the lone gainer in the index of 100 components here @ midday -Technical-
NDX 10 Best % Performers:
TEVA
NDX 10 Worst % Performers:
FLEX, BIDU, FWLT, DISH, SNDK, WYNN, NIHD, MICC, JOYG, AMZN
NASDAQ A/D -2105
NASDAQ TRIN +3.60
12:29
BA Dow 30 (INDU) strength & weakness- Aerospace (BA) continues to lead the percentage decliners here @ midday; 30 of 30 components still trade with losses -Technical-
INDU 5 Best % Performers:
NONE
INDU 5 Worst % Performers:
BA, CAT, AA, AXP, BAC
NYSE A/D -2575
NYSE TRIN +3.30
12:25
REIS Reis authorized repurchase up to $1 mln in shares of common stock (6.32 +0.02)
12:20
ASEI American Science & Engineering awarded follow-on order for multi-view Z Portal X-ray screening system for use at a strategic security checkpoint (74.19 -0.70)
12:06
GLD New session highs in Gold GLD and Silver SLV with Gold Miners GDX displaying some relative strength -Technical-
12:05
TECHX Stock indices edge back off morning bounce highs -Update- -Technical-
Finance is lagging with the XLF and KBE recent sliding to new session lows. Also underperforming in recent trade are Energy XLE / OIH, Retail XRT, Coal KOL.
12:00
CP Canadian Pacific Alberta mainline reopens after floods (53.52 -2.89) -Update-
CP main line east of Medicine Hat, AB that has been closed since June 18 is now open to traffic. During the 11 day outage CP utilized both secondary network routes and detour routes on other railways to minimize impacts to domestic and international supply chains. It is currently estimated that the impact of the main line closure will reduce Q2 EPS by $0.10-0.13. It is also estimated that a majority of the deferred shipments will be moved in Q3.
11:55
PRAA Portfolio Recovery Assoc. confirms Missouri Court dismisses Missouri AG lawsuit against the co (68.33 -1.29)
Co confirms that a Missouri court threw out a case filed last year by the Missouri Attorney General against PRAA and its subsidiary, Portfolio Recovery Associates. The case alleged that the co violated the Missouri Merchandising Practices Act by engaging in a variety of unfair debt collection practices in their dealings with Missouri consumers. Judge Robert H. Dierker rejected the Attorney General's attempt to apply the MMPA to debt collection and dismissed the case with respect to both defendants.
11:48
European Markets Closing Prices
European markets are now closed; stock markets across Europe performed as follows: UK's FTSE: -2.8% Germany's DAX: -3.1% France's CAC: -3.6% Spain's IBEX: -5.5% Portugal's PSI: -2.6%
11:35
TEVA Teva Pharma continues to display relative strength, sets new high of 52.06 near yesterday's peak at 52.10 (52.03 +0.73) -Update- -Technical-
11:11
JLI Jesup & Lamont announces reduction of costs, termination of personnel (0.05 0.00)
Co announced that it was taking steps to reduce costs, determine strategic alternatives to maximize values for stake holders and terminating all non-essential personnel, except for Alan Weichselbaum, its CEO, who will continue on a non-salaried basis. Steven Rabinovici, formerly an Executive Chairman, will remain as a non-executive Chairman of the Board, also on a non-salaried basis.
11:04
TECHX Yen Futures pause near multi month highs -Update- -Technical-
Highlighted the multi-month highs in The Technical Take and we have seen some intraday slippage after a morning safe haven test (Click for chart).
10:57
TECHX Sector Relative Strength -Update- -Technical-
Noted the extended/divergent posture with the S&P and Nasdaq near multi-month lows in the 10:35 update and we have seen some lift off these supports in recent trade. Sector relative strength on this move (outperforming the S&P) has been noted in Energy XLE / OIH, Housing XHB, Retail XRT, REITs IYR, Disk Drive, Casino BJK.
10:53
TECHX 10-yr Treasury Yield drops to lowest level since April 2009 -Update- -Technical-
The 10-yr yield proxy (TNX) has established a fresh 52-wk low (lowest level since April 2009) amid a continued flight to quality bid (Click for technical levels of interest/chart).
10:50
BP BP displays some relative strength as it lifts to modest opening opening highs (27.43 +0.41) -Technical-
Note that the 2-day range high is overhead near the $28.00 level.
10:47
IUSA InfoGroup stockholders approve merger with CCMP Capital (7.98 +0.06)
Co announced that at today's Special Meeting, the co's stockholders approved the merger with CCMP Capital Advisors, under which affiliates of CCMP will acquire Infogroup for $8.00 per share in cash. The transaction will close promptly after the satisfaction of certain remaining conditions, which is anticipated to occur on July 1, 2010.
10:47
PEET Peet's Coffee reaffirms FY10 EPS, rev guidance at Oppenheimer Conference (39.65 -0.73)
Co reaffirms guidance for FY10, sees EPS of $1.27-1.30 vs. $1.30 Thomson Reuters consensus; sees FY10 revs of $330-340 mln vs. $341 mln Thomson Reuters consensus.
10:40
VXX Global & sector ETF movers- Safety Assets (TLT, UUP, FXY) lead along with VIX volatility index (VXX); Commodities (KOL, SLX, XME) atop the percentage decliners through the 1st hour of trading -Technical-
The Actively Traded Leading Global & Sector ETFs:
VIX vol index- VXX +6.75%, VXZ +4.25%, Yen currency shares- FXY +1.0%, US bonds & fixed income- TLT +0.50%, TLH +0.50%, IEF +0.50%, AGG +0.25%, US Dollar index- UUP +0.50%
The Actively Traded Lagging Global & Sector ETFs:
coal- KOL -5.25%, steel- SLX -5.0%, SPDRS metals & mining- XME -5.0%, global shippers- SEA -4.75%, solar power- TAN -4.75%, iShares Italy- EWI -4.75%, iShares Brazil- EWZ -4.75%, iShares Australia- EWA -4.50%, airlines- FAA -4.50%, iShares Spain- EWP -4.50%, casinos & gaming- BJK -4.50%, junior gold miners- GDXJ -4.50%, copper- JJC -4.50%, Russia- RSX -4.25%, iShares S Korea- EWY -4.25%, semis- IGW -4.0%, XSD -4.25%
10:35
SPY S&P 500 -29 and Nasdaq Comp -70 hold near May/June lows -Update- -Technical-
Extended and divergent intraday indicators are evident as the indices attempt to stabilize near multi-month lows.
10:31
QQQQ Nasdaq Comp slides to 2143 just above its May/June lows at 2140/2139 -Update- -Technical-
The 2010 close low from Feb comes into play at 2125.
10:28
TEVA NASDAQ 100 (NDX) strength & weakness- Pharma/Drug name (TEVA) only index gainer through the 1st hour of trading -Technical-
NDX 10 Best % Performers:
TEVA
NDX 10 Worst % Performers:
BIDU, WYNN, FLEX, SNDK, NIHD, KLAC, AMZN, FWLT, PCAR, MRVL
NASDAQ A/D -2005
NASDAQ TRIN +6.10
10:27
SPY S&P 500 weakening again, approaching its Feb/June/May lows at 1044/1040 -- session low 1045 -Update- -Technical-
Dow -253, Nasdaq -70
10:26
BA Dow 30 (INDU) strength & weakness- Aerospace (BA) atop the percentage decliner leaderboard through the 1st hour of trading; 30 of 30 components post losses -Technical-
INDU 5 Best % Performers:
NONE
INDU 5 Worst % Performers:
BA, CAT, AA, GE, AXP
NYSE A/D -2535
NYSE TRIN +4.20
10:23
CLF Cliffs Natural Resources notches new low of 50.54, still holding above its important 200 day (50.81 -3.63) -Technical-
Its 200 sma, which provided support during the May/early June declines comes into play today at 50.14.
10:20
QQQQ NASDAQ 100 is the worst performing index this morning with it thus far able to hold just above its June low at 1770 -- session low 1773 -Update- -Technical-
Initial intraday resistances are at 1782 and 1786. If follow through develops, its May lows come into play at 1756 and 1752.
10:07
TECHX Sector Watch -Update- -Technical-
The worst performing sectors on a percentage basis after the data related downside extension include: Casino -6.3%, Coal KOL -6.2%, Paper -5.3%, Steel SLX -4.8%, Solar TAN -4.3%, Internet HHH -4.3%, Housing XHB -4%, Auto Parts -4%, Retail XRT -3.9%, Networking -3.7%, Semi SMH -3.5%, Transports IYT -3.4%, Networking -3.4%, Crude Oil USO -3.3%, Ag/Chem MOO -3.3%, Industrial XLI -3.2%.
10:07
BIDU Baidu.com - - 50 Day Alert (68.50 -5.93) -Update- -Technical-
Under pressure with broader market sell-off and following GOOG headlines about ending its Chinese redirect and re-submitted its license renewal application based on this approach. Its stock price is cracking below its 50-day moving averages along the $70-level. Next level of interest is the June low near $66-area.
10:04
COIN Converted Organics partners with Integrated Turf Care to facilitate BankAtlantic's efforts to become First Organic Banking System in the South Florida Area (0.65 -0.02)
Co is working with its commercial landscaping customer Integrated Turf Care to help make Florida's BankAtlantic the first banking system in South Florida to implement an organic-only grounds maintenance program on the property of 31 of its 100 branch locations.
10:03
JACK Jack In The Box announced completion of a new five-year $600 million senior credit facility (19.74 -0.14)
10:02
NCR NCR Corp announced the expansion of Blockbuster Express-branded DVD kiosks across Tennessee and Kentucky (12.46 -0.35)
Co announced the expansion of Blockbuster (BBI) Express-branded DVD kiosks across Tennessee and Kentucky to nearly 100 Daily's Convenience Stores. Co also announced the expansion of Blockbuster Express-branded DVD kiosks in Tennessee and the mid-South with a deployment at MAPCO Express, convenience stores. NCR has deployed a number of Blockbuster Express kiosks in Tennessee-area MAPCO Express locations as part of a pilot program.
10:01
SATS Echostar Holdings: XStreamHD signs long-term satellite service agreement with EchoStar Satellite Services (19.20 -0.39)
XStreamHD entered into a long-term satellite service agreement with EchoStar Satellite Services L.L.C., a subsidiary of EchoStar Corporation. Under the terms of the agreement, XStreamHD will increase its capacity on the AMC-16 satellite as the company's transport needs grow over time. The two companies have been working together for the past two years as XStreamHD completed the operational testing of its revolutionary transport technology.
10:01
THC Tenet Healthcare Announces national agreement with CIGNA (4.44 -0.22)
Co announced it signed a new multi-year agreement with CIGNA Corporation (CI), which became effective June 1, 2010. Under the new agreement, CIGNA health plan participants have access to health care services at all hospitals owned and operated by Tenet subsidiaries as well as Tenet's freestanding diagnostic imaging centers and ambulatory surgery centers.
10:01
SPY Fresh lows after disappointing confidence data -- Dow -244, S&P -25, Nasdaq -62 -Update- -Technical-
09:58
SPY S&P 500 -21.3 and Nasdaq Comp -56 hold near 2010 close lows -Update- -Technical-
Highlighted the 2010 close low for the S&P and Nasdaq Comp in the 09:36 and 09:44 updates and we have seen a limited stabilization attempt near these levels in recent trade.
09:54
GRO Agria provides update to its strategic review and reaches agreement in principle to divest P3A (1.26 +0.05)
Co provided an update to its strategic review and announced it has reached an agreement in principle to divest Taiyuan Primalights III Agriculture Development Co., Ltd., or P3A, to Mr. Frank Xue, the president and a director of P3A.
09:53
K Kellogg reaches back near its Feb/Dec/seven month lows at 51.70/51.55 -- session low 51.74 (51.75 -0.77) -Technical-
09:52
WMT Wal-Mart testing its June/Sep 2009/11 month lows at 48.80/48.73 -- session low 48.80 (48.82 -0.75) -Update- -Technical-
09:50
ECONX Reminder: Consumer Confidence data due out in about 10 min. at 10:00ET
09:49
SPY Stock indices continue to extend gap down start -- Dow -188, S&P -21, Nasdaq -56 -Update- -Technical-
09:44
QQQQ Nasdaq Comp extends gap down start -Technical-
The index quickly declined to the lower end of a support zone noted in The Technical Take at 2170 with the next level of note below at 2158/2150 (2010 close low/congestion) -- session low 2170.
09:44
AQQ American Spectrum Realty awarded contract for third party leasing & management by City National Bank (4.18 -0.36)
09:42
AMZN Amazon.com sinks lower off the open as it begins to dip down and probe its Feb range/8-mth low near $113.82-114.00 (114.52 -3.28) -Technical-
Late Oct gap has still not been retested and that level is below at $110.62.
09:40
CACI CACI Intl Board authorizes $50 million to repurchase up to 1 million shares (42.04 -0.36)
Co announced that its Board of Directors has authorized the repurchase of up to one million shares of the Company's common stock where the total expenditure for the purchase of the shares under this repurchase program does not exceed $50,000,000.
09:40
AAPL Apple gaps down to probe its 20-day exponential moving average alng the 263.00 area (262.65 -5.61) -Update- -Technical-
09:36
SPY S&P 500 drops aggressively, sets new three week low of 1057 -Technical-
There is a minor support zone in the 1054/1052 area with the 2010 close low from early June at 1050.
09:31
ALN American Lorain signs letter of intent to acquire Shandong Greenpia Foodstuff (3.06 0.00)
Co announced that it signed a letter of intent to acquire Shandong Greenpia Foodstuff Co., Ltd., a manufacturer of retail-packaged, Korean-style kimchi cold dishes. The acquisition will include cash and stock offer of $2.1 million in cash and 731,707 shares of American Lorain common stock, respectively.
09:31
NCMI National Cinemedia entered into a network affiliate agreement with Great Escape Theatres (16.97 -0.30)
Co entered into a network affiliate agreement with Great Escape Theatres, an Indiana-based cinema chain, for the presentation of cinema advertising and NCM Fathom entertainment and business events in theaters.
09:16
On The Wires
Teva Pharmaceutical Industries (TEVA) announced FDA approval of Venlafaxine HCl ER Capsules, the Company's generic version of Pfizer's (PFE) Wyeth's antidepressant Effexor XR. Shipment is expected to commence on July 1, 2010, as per the terms of the 2006 agreement with Wyeth... MTR Gaming (MTNG) announced Ohio Governor support of its video lottery terminal ambitions in Ohio. Iconix Brand Group (ICON) announced today that Britney Spears designed her collection of apparel and accessories for its Candie's brand. The limited edition collection will be exclusively available at Kohl's (KSS)... The KODAK (EK) Playsport Video Camera has been awarded the Parent Tested Parent Approved Seal by PTPA Media.
09:13
On The Wires
LRAD Corporation (LRAD) awarded a new $700,000+ Long Range Acoustic Device 100X /300X order from the U.S. Military for immediate shipment and scheduled deployment in Afghanistan... LibreDigital announced that it has acquired the Symtio e-commerce platform from Zondervan, unit of News Corp (NWS, NWSA)... Corporate Office Properties Trust (OFC) announced the acquisition of a Class A office building containing approximately 152,000 square feet known as the Rappahannock Building in Tysons Corner, Virginia for $40 million... Fresenius Kabi Pharmaceuticals (APCVZ) announced that APP Pharmaceuticals will begin marketing Anastrozole tablets in the U.S. Anastrozole is therapeutically equivalent to the reference-listed drug Arimidex, currently marketed by the innovator AstraZeneca (AEZS).
09:10
TAP Molson Coors Brewing announced that it has launched Coors Light in Russia beginning this month (43.61 )
09:08
On The Wires
77kids by american eagle, the kids brand from American Eagle Outfitters (AEO), plans to open seven 77kids by american eagle brick-and-mortar stores, beginning in July... Sikorsky Helitech, a Sikorsky Aerospace Services company, announced a distribution agreement with The Timken (TKR) for bearing inspection, overhaul and reconditioning services throughout the Australasian region. Sikorsky Aerospace Services is the aftermarket division of Sikorsky Aircraft, a subsidiary of United Technologies (UTX)... International Game Technology (IGT) announced the installation of sbX at Casino di Venezia in Italy... Threshold Pharmaceuticals (THLD) initiated a Phase 1 clinical trial of TH-302 in patients with advanced leukemias. TH-302 is a proprietary Hypoxia-Activated Prodrug that specifically targets tumor hypoxia.
09:05
KERX Keryx Biopharma KRX-0401 (perifosine) data will be presented (3.91 )
Co announced that abstract has been selected for oral presentation. Of the 38 patients enrolled in the Phase II study, 27 patients were previously refractory to a 5-FU based regimen. KRX-0401 (perifosine) is in-licensed by Keryx from Aeterna Zentaris Inc. (AEZS) in the United States, Canada and Mexico.
09:03
AUDC Audiocodes announced that it has appointed Guy Avidan as its new Vice President of Finance and CFO effective July 1, 2010
09:02
WMT Wal-Mart announces Bill Simon is Promoted to President and CEO of Walmart U.S. (49.57 )
09:01
TGAL Tegal receives order for Tegal 200 SE Silicon DRIE process tool from leading MEMS research center (0.74 )
09:00
MON Monsanto seeks U.S. EPA registration for refuge-in-the-bag option for Genuity VT Double PRO Corn (47.80 )
Co announced that it has submitted for registration to the U.S. Environmental Protection Agency a 5 percent refuge-in-the-bag option for Genuity VT Double PRO corn. Upon registration, a RIB option for Genuity VT Double PRO corn would provide farmers in the U.S. Corn Belt with the convenience of planting one bag containing both Bt seed and refuge seed.
08:53
WOR Worthington beats by $0.14, beats on revs (13.08 )
Reports Q4 (May) earnings of $0.42 per share, $0.14 better than the Thomson Reuters consensus of $0.28; revenues rose 32.8% year/year to $626.4 mln vs the $527.4 mln consensus. "Steel Processing continues to show marked improvement in its operations, despite lower but improving volumes. Pressure Cylinders had a very strong quarter in North America across many of its product lines with some modest improvements showing up in results from the European operations. We believe the economic environment in which we operate will continue to improve, though not linearly, over the next 24 months."
08:49
ECONX Reminder: Case-Shiller 20-city Index data due out in about 11 min at 9:00ET
08:46
CVU CPI Aerostructures announces $3.2 mln production program order (9.15 )
08:37
CNX CONSOL Energy's Harvey named Chairman (36.30 )
Co announced that J. Brett Harvey, the president and CEO of CONSOL Energy, has been appointed with the additional responsibilities as chairman of the board. With the change, John Whitmire, the current chairman, now becomes vice chairman of the board.
08:35
MITI Micromet announces data published in proceedings of National Academy of Sciences highlights potential of Micromet's BiTE Antibody Platform (6.99 )
Co announced the publication of pre-clinical data in the Proceedings of the National Academy of Sciences (PNAS), demonstrating the potency of new product candidates based on the Company's proprietary BiTE antibody technology.
08:33
PKG Packaging Corp announces separation of Chairman and CEO Roles; Mark W. Kowlzan named CEO (22.12 )
Co announced today that effective July 1, 2010 it will separate the roles of Chairman and CEO into two positions. Paul T. Stecko will remain as Chairman of the Board and an executive officer of the company. He will relinquish his role as CEO to Mark W. Kowlzan who has also been named to the company's board of directors.
08:32
IRC Inland Real Estate commences tender/exchange offer for its outstanding 4.625% convertible senior notes due 2026 and solicitation for proposed amendment to the related indenture (8.27 )
08:31
PSDV pSivida announces submission of NDA to FDA for an Ophthalmic product for diabetic macular edema (3.37 )
Co announced that its licensee, Alimera Sciences (ALIM) has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration for Iluvien for Diabetic Macular Edema. Iluvien, developed by pSivida and licensed to Alimera Sciences in 2005, is a sustained release drug delivery system releasing the steroid flucocinolone acetonide for the treatment of diabetic macular edema (DME). In the submission, Alimera requested priority review, which, if granted, could result in an action letter from the FDA in the fourth quarter of this year.
08:31
MKC McCormick announces investment in Eastern condiments private limited based in Kerala, India (39.27 )
Co announced that it has signed an agreement to purchase a minority share in Eastern Condiments Private Limited, a leading spice and seasoning business based in Kerala, India. The completion of the agreement is expected to occur in the fourth quarter of 2010 subject to regulatory approval. McCormick has agreed to acquire a 26% minority position for approximately $35 million. The business has operated profitably in each of the last 10 years and achieved annual sales of $67 million in the year ended March 2010 with the average annual growth rate exceeding 25% for the past three years.
08:31
WAIN Wainwright Bank & Trust to be acquired by Eastern Bank for $19.00 per share in cash (9.62 )
Co will recieve $19.00 per share in cash to be acquired by Eastern Bank Corp. The merger will combine two banks focused on serving their communities, while providing enhanced convenience for customers of both organizations. The combined organization will have more than 90 retail banking offices serving people and businesses across eastern Massachusetts, including 22 offices in the Boston metro area. At March 31, 2010, Eastern Bank Corporation's consolidated assets were approximately $6.6 billion and Wainwright Bank & Trust Company had assets of ~$1.0 bln. At March 31, 2010, Wainwright Bank & Trust Company and Eastern Bank were both considered well-capitalized under applicable regulatory capital guidelines, and Eastern Bank will be well-capitalized under such standards upon completion of the transaction.
08:30
CAT Caterpillar announces plans for new manufacturing facility in Brazil (64.40 )
The co is announcing plans to expand its manufacturing presence in Brazil to further position the company to meet growing customer demand across Latin America. Studies and site selection for the new facility are at advanced stages and are part of Caterpillar's long-term global manufacturing strategy. A final location is expected to be announced later this summer.
08:29
ANV Allied Nevada drills 165 meters grading 1.9 g/t gold equivalent of higher grade mineralization in the Vortex Zone at the Hycroft Mine (21.49 )
Hole 10-3843, a 100-meter step-out hole from previously released hole 10-3659 (May 7, 2010), intersected 165 meters grading 1.9 g/t AuEq1,2 (0.77 g/t Au2 and 64.74 g/t Ag2) including a 37 meter interval grading 3.68 g/t AuEq (0.83 g/t Au and 162.79 g/t Ag) . Deep mineralization in hole 10-3843 is fed by the East fault, while shallower mineralization occurs in a brecciated vein zone.
08:24
On The Wires
Shutterfly (SFLY) announced that it has partnered with Sony to deliver Shutterfly's photo book to Sony VAIO PC customers... JBT Corporation (JBT) announced that its JBT FoodTech business signed a definitive agreement to acquire assets of International Food Technology and Food Audits International, both of which are headquartered in Bangkok, Thailand. Terms of the transaction were not disclosed.
08:18
On The Wires
Equinix (EQIX) announced plans to build its third International Business Exchange in Sydney, Australia. The $65 mln first phase of the SY3 IBX data center will add 1,000 cabinets and is targeted for opening during the second quarter of 2011... CSC (CSC) announced it has entered into a multi-year agreement with Symetra Life Insurance Company to license two software products... LSI Corporation (LSI) and Seagate (STX) announced the delivery of a read channel technology for Seagate's latest hard disk drive products... NeoStem (NBS), announced on June 15, 2010 that its 51% owned Suzhou Erye pharmaceutical subsidiary passed the government inspection by the State Food and Drug Administration in China to manufacture penicillin and cephalosporin powder for injection at its new manufacturing facility... Tenneco (TEN) and Sturman Industries announced that the companies have entered into a joint product development agreement... Superior Industries International (SUP) announced it has acquired 8.7% of the outstanding shares of privately-owned SYNERGIES Castings Limited, an aluminum wheel manufacturer in Visakhapatnam, India... Sussex Bank (SBBX) named Steve Fusco to the position of Executive Vice President and Chief Financial Officer.
08:06
CAVO Cavico signs transport tunnel construction agreement for Noi Bai - Lao Cai Highway; contract brings total revenue value of project to $7.9 Million (3.83 )
Co announced that its majority owned subsidiary, Cavico Bridge and Tunnel JSC signed a transport tunnel construction agreement with Korea-based Doosan Heavy Industries & Construction for the Noi Bai - Lao Cai Highway. The expected revenue value for this new contract is $5.8 million, excluding value added VAT. In March 2010, Cavico announced the contract for a road construction contract related to this project for $2.1 million.
08:04
ARSD Arabian American Developmnt affiliate announced that it has signed a five-year replacement contract with an affiliate of a Fortune 100 company (2.22 )
Arabian American Development affiliate announced that it has signed a five-year replacement contract with an affiliate of a Fortune 100 company that allows sales in excess of $15 million per year based on current market values, which represents a continuing business relationship with a current purchaser. The contract includes several different hydrocarbons that will be supplied to multiple plant locations for the customer within North America.
08:03
ALIM Alimera Sciences submits Iluvien NDA to the FDA for the treatment of diabetic macular edema (8.08 )
In the submission, Alimera requested priority review, which, if granted, could result in an action letter from the FDA in the fourth quarter of 2010.
08:02
RZ Raser Technologies and Hyundai Heavy Industries announce agreement for joint development of renewable energy and electric vehicles (0.54 )
08:02
FLR Fluor wins $1.3 bln mining contract form Minera Lumina Copper Chile (43.46 )
Co announces they were awarded a contract by Minera Lumina Copper Chile S.A. to deliver engineering, procurement and construction management services for the co's new Caserones copper mine project in central Chile. Minera Lumina Copper Chile is jointly owned by Pan Pacific Copper Co., Ltd. and Mitsui Co., Ltd. Fluor will book approx $1.3 bln for the project in 2Q10.
08:01
MDT Medtronic announces STAR 3 trial results; MDT's MiniMed Paradigm REAL-TIme System achieves better glucose control than daily insulin injections (36.87 )
Co announces adult and pediatric patients using the Medtronic MiniMed Paradigm REAL-Time System achieved better glucose control without an increase in hypoglycemia compared to multiple daily insulin injections. The data also showed a statistically significant reduction in glycated hemoglobin levels, which was sustained over a prolonged one-year period for patients enrolled in the sensor-augmented insulin pump therapy arm of the trial. Study results were simultaneously published online in The New England Journal of Medicine and presented at a late-breaking clinical study symposium at the American Diabetes Association 70th Scientific Sessions. The Sensor-Augmented Pump Therapy for A1C Reduction (STAR 3) trial showed patients (adults, teens and children) on sensor-augmented insulin pump therapy demonstrated a reduction in mean A1C levels that was four times greater than the multiple daily injection group (0.8% study vs. 0.2% control. The mean A1C decrease was from a baseline of 8.3% to 7.5% in the sensor-augmented pump therapy group, compared to only 8.3% to 8.1% in the MDI group. In addition, for the adult participants in the sensor-augmented insulin pump therapy arm, there was a full one percent reduction in their A1C levels.
08:01
AAN Aaron's to close office furniture division; will record charges from shutdown; reduces earnings guidance (19.25 )
During Q2 the co closed all but four of its Aaron's Office Furniture stores and plans to have the remaining stores closed by September 30, 2010. It is anticipated that the Company's pre-tax earnings will be negatively impacted by up to $9.5 million, or ~$0.07/share, relating to the closure of the division. Co anticipates recording over 70% of this amount as a charge to operating expenses in Q2 2010 and most of the remainder is estimated to be incurred and recorded by the end of 2010. Based upon preliminary results so far in the second quarter, it is anticipated that same store revenue and customer growth in the Aaron's Sales & Lease Ownership division will be a little less than expected, and although overall revenue targets are not expected to materially change, theco is adjusting its earnings forecast to primarily reflect lower store revenue growth. The guidance includes charges. Co lowers guidance for Q2 (Jun), sees EPS of $0.29-0.33, down from $0.37-0.41, vs. $0.39 Thomson Reuters consensus. Co lowers guidance for FY10 (Dec), sees EPS of $1.36-1.48, down from $1.48-1.60, vs. $1.54 Thomson Reuters consensus.
08:01
UGI UGI Corp announces Peter Kelly, CFO, will retire in 2011 (26.60 )
08:00
ALNY Alnylam Pharma obtanis approval to initiate Ph. 1 study with ALN-TTR01 in patients with TTR-medicated amyloidosis (15.76 )
Co announces that its applications for ALN-TTR01 have been given clearance by Portuguese, Swedish, and British regulatory authorities to begin clinical testing. The trial will begin enrolling patients shortly in a blinded, randomized, placebo-controlled, multicenter Phase I study. ALN-TTR01 is a systemically delivered RNAi therapeutic being developed for the treatment of transthyretin-mediated amyloidosis, including familial amyloidotic polyneuropathy and familial amyloidotic cardiomyopathy.
07:55
MUSA Metals USA announces acquisition of J. Rubin & Co.; terms were not disclosed (15.69 )
07:52
PRGO Perrigo acquires exclusive sales and distribution rights to OTC store brand versions of Allegra and Allegra D-12 from Teva
Co announced that it has acquired the exclusive U.S. store brand rights to sell and distribute OTC versions of Fexofenadine HCl 180 mg and 60 mg tabs, plus Fexofenadine HCl 60 mg and Pseudoephedrine 120 mg tabs, the generic versions of Sanofi-Aventis' Allegra and Allegra D-12 products. Teva Pharmaceutical (TEVA) currently has Rx approval for these products, and Teva and Sanofi-Aventis have settled their Paragraph IV/Hatch-Waxman litigation.
07:43
On The Wires
China Agritech (CAGC) announced that it has received $10 mln as a result of the exercise of common stock warrants held by two affiliates of The Carlyle Group... Alcatel-Lucent (ALU) acquired ProgrammableWeb, the technology industry's universal source for Web APIs used by application developers. Terms of the acquisition were not disclosed... SunOpta (STKL) unit entered into exclusive agreements with Clearwater Country Foods to market and distribute the company's Garden Green Garbanzo. Under the terms of the agreement, SunOpta will be responsible for global sales and distribution of the Garden Green Garbanzo and Clearwater will provide exclusive sourcing and supply services... AlphaRx (ALRX) entered into an agreement with Cypress Bioscience (CYPB), under which AlphaRx is regaining all rights to Indaflex from Cypress Bioscience, which AlphaRx had previously licensed to Proprius Pharmaceuticals, which was subsequently acquired by Cypress Bioscience.
07:32
CHTP Chelsea Therapeutics initiates Northera Study 306 in neurogenic orthostatic hypotension and provides update on status of phase II Study of CH-4051 in rheumatoid arthritis (2.91 )
Co announced the initiation of Study 306, a pivotal Phase III trial evaluating the efficacy of NORTHERA for the treatment of symptomatic neurogenic orthostatic hypotension (NOH) associated with Parkinson's disease. The primary endpoint of the trial will be the relative mean change in the Orthostatic Hypotension Questionnaire (OHQ) composite score between Northera and placebo... Chelsea anticipates completion of the requested histology reports by late July. In the interim, the company continues to explore potential strategies for further mitigating any FDA concerns regarding dose while allowing for evaluation of the full dose range and minimizing potential program delays. Chelsea anticipates filing a response to the FDA in late July, at which time the agency will have 30 days to review and respond to the submission.
07:31
Brigus Gold (BRD) appoints Richard Allan as Chief Operating Officer
07:31
AEZS Aeterna Zentaris receives positive scientific advice from the European medicines agency for its Phase 3 trial with Perifosine in colorectal cancer (1.20 )
Co announced that it has received positive Scientific Advice from the European Medicines Agency regarding the Phase 3 trial initiated last April for the development of its lead anticancer proprietary compound, perifosine, in refractory advanced colorectal cancer. The trial is being sponsored by Keryx Biopharmaceuticals (KERX), Aeterna Zentaris' licensee for perifosine in North America. The Scientific Advice from the EMA, in conjunction with safety data generated from other clinical studies with perifosine, is considered sufficient to provide all data necessary to support a marketing authorization of perifosine in advanced colorectal cancer. Co does not intend to initiate any additional study with perifosine for this indication.
07:30
PBTH PROLOR Biotech granted EU GMP certification for lead candidate hGH-CTP, a pre-condition for its Phase II clinical trial (7.15 )
07:30
MYL Mylan Labs receives approval for generic version of Arimidex Tablets (17.67 )
Co announced that its subsidiary Mylan Pharmaceuticals Inc. has received final approval from the U.S. Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA) for Anastrozole Tablets, 1 mg, the generic version of AstraZeneca's (AEZS) Arimidex Tablets, a treatment for early breast cancer.
07:29
GFI Gold Fields reports Q4 production at upper end of guidance (13.78 )
Co announced that attributable Group production for Q4 F2010 is expected to be about 895koz, which is at the upper end of the guidance provided on 7 May, 2010. Total cash cost and notional cash expenditure (NCE) for Q4 F2010 are also expected to be within the guidance provided. All four regions performed well with overall attributable Group production increasing by 13% compared with the March quarter.
07:07
WPPGY WPP Group plc annual general meeting trading update for first five months of 2010 (49.52 )
Co reported its 2010 Five Month Trading Update. The following statement was made by the Chairman at the Company's 38th Annual General Meeting held in Dublin at noon today: "First, a few comments on current trading over the first five months of this year. On a reportable basis, worldwide revenues were up 1.8%. In constant currencies, revenues were up 2.2%, principally reflecting the comparative weakness of the US dollar and Euro against the pound sterling. On a like-for-like basis, excluding the impact of acquisitions and currency fluctuations, revenues were up 2.0%. Year-to-year comparisons continue to improve, with like-for-like revenue growth showing sequential improvements for the first five months, and with May revenue growth of well over 5%. As in the first quarter, the United States has continued to show remarkably strong like-for-like growth, continuing in April and May, with combined revenue growth of over 7% and well over 5% year to date. The United Kingdom has also shown continuous improvement this year, with revenue growth in both April and May well over 4%. Continental Europe overall was flat, although Eastern Continental Europe showed revenue growth for the first five months of over 1%.
07:04
TGA Transglobe Energy provides an operations update (7.66 )
TransGlobe successfully completed the first, multi-stage, horizontal ("Hz") well stimulation in Egypt at Arta #12. The well continues to clean up as frac fluid is recovered and is producing at an initial pumping rate of 300 - 400 barrels of oil per day... The East Arta #2 well was drilled as a down dip eastern extension to the Arta Nukhul pool. The well encountered oil in the Nukhul formation approximately 1,000 feet structurally lower than Arta #13 and was cased as a potential Nukhul oil well.
07:03
OMER Omeros successfully unlocks Orphan GPCRs (7.64 )
Co announced that it has successfully identified compounds that interact with three orphan G protein-coupled receptors (GPCRs) linked to cancer, metabolic disorders and appetite control. GPCRs represent the premier family of drug targets, with more than 30 percent of currently marketed drugs targeting only 46 GPCRs. There are approximately 120 orphan GPCRs, and Omeros expects to unlock a large percentage of these for drug development.
07:01
ISIS ISIS Pharm highlights new data on Antisense drugs to treat type 2 diabetes and obesity (10.00 )
Co announced that data from seven programs in Isis' broad metabolic disease franchise were presented at the American Diabetes Association's (ADA) 70th Scientific Sessions in Orlando. The study produced the following results: Statistically significant reductions in multiple short and intermediate measures of glucose control at the 200 mg/week dose. Statistically significant decrease of approximately 11 mg/dL in LDL Cholesterol. Reduction in body weight that was preceded by a statistically significant increase in circulating adiponectin, supporting the role of PTP-1B in the regulation of body weight. No clinically significant adverse events or observations of hypoglycemia. The most common adverse event was mild injection site reactions.
07:01
SGMO Sangamo BioSci presents positive Phase 2 ZFP therapeutic data from SB-509 programs in diabetic neuropathy (3.99 )
Co announced positive Phase 2 clinical data from its ZFP Therapeutic program to develop SB-509 as a treatment for diabetic neuropathy. Data from Sangamo's SB-509-601 and SB-509-701B Phase 2 clinical trials demonstrated that SB-509 treatment resulted in clinically beneficial improvements in subjects with moderate and severe DN as compared to placebo. The data, which were described in three oral presentations, provided direct histological evidence of SB-509's dual effect on both blood vessel and nerve growth and validated the strategy of the use of multi-endpoint disease severity criteria that have been established for enrollment into the co's ongoing Phase 2b trial in subjects with moderately severe DN.
07:01
PTIE Pain Therapeutics: King Pharmaceuticals (KG) announces a modification to its strategic alliance with Pain Therapeutics for REMOXY (5.83 )
King Pharmaceuticals (KG) announces a modification to its strategic alliance with Pain Therapeutics (PTIE) for REMOXY. The move signals a desire to target Europe's small and growing market for strong pain medications. King and Pain Therapeutics believe the target market for strong pain medication in Europe is smaller than the U.S. market for similar drugs. To accommodate a cohesive commercial strategy for REMOXYoutside the U.S., King and Pain Therapeutics have amended a royalty term of their strategic alliance. Pain Therapeutics will now receive a flat royalty rate of 10% on net sales of REMOXY outside the U.S. in exchange for a one-time payment of $5 million dollars from King to be made in July 2010. The original agreement called for a royalty rate of 15% of net sales; with a provision to increase to 20% should certain net sales benchmarks be met. King also gained certain undisclosed rights related to the development of other opioid products covered by the collaboration agreement. Pain Therapeutics' royalty rate in the U.S. and potential milestone payments from King remain unchanged.
06:41
S&P futures vs fair value: -12.70. Nasdaq futures vs fair value: -23.30.
06:41
Asian Markets: Nikkei...9570.67...-123.30...-1.30%. Hang Seng...20248.90...-477.80...-2.30%
06:41
European Markets: FTSE...4968.92...-102.80...-2.00%. DAX...6019.97...-137.00...-2.20%
06:35
TIV Tri Valley continues reorganization (1.00 )
Co announces additional organizational changes designed to strengthen the Company's focus on accelerating oil revenue generation from existing assets. Under the new structure, Maston Cunningham, president and CEO of Tri-Valley Corporation, will also become president of Tri-Valley Oil & Gas. He assumes this role from Joe Kandle. Jim Kromer, vice president of operations, will report to Mr. Cunningham. In addition, the Company has consolidated its minerals activities under Mike Stark, vice president of exploration, who also reports to Mr. Cunningham.
06:33
INO Inovio Biomed announces their novel gene immunoadjuvant significantly improves DNA vaccine immune responses in non-human primates (1.07 )
Co announces the peer-reviewed journal Molecular Therapy has published a paper entitled "IL-28B/IFN-lambda3 Drives Granzyme B Loading and Significantly Increases CTL Killing Activity in Macaques." The paper, co-authored by researchers from Inovio and collaborators from University of Pennsylvania School of Medicine, notes that co-delivery of Inovio's immunoadjuvant, a DNA plasmid encoding interleukin (IL)-28B, with an Inovio optimized SynCon(TM) DNA vaccine using its proprietary electroporation (EP) technology significantly enhanced antigen-specific killer T cell responses in rhesus monkeys.
06:32
AMAG AMAG Pharma and Takeda announce acceptance of submission of Feraheme marketing authorization application to the European Medicines Agency (35.66 )
01:09
On The Wires
Bell Microproducts (BELM) announces that its shareholders approved the merger agreement among Bell Micro, Avnet (AVT) and AVT Acquisition Corp, a wholly owned subsidiary of Avnet, pursuant to which Bell Micro would be acquired by Avnet. More than 97% of the votes cast voted to approve the merger agreement... Portland General Electric (POR) announces they are disappointed by draft emissions control options for the Boardman Power Plant issued today by the Oregon Department of Environmental Quality, and plans to continue working with the agency to develop an appropriate control strategy for the plant... Teck Resources Ltd. (TCK) reports that an explosion occurred in the coal dryer at Teck's Greenhills coal mine near Elkford British Columbia today at approx 3.15 PM... Evergreen Energy (EEE) selects HEIN & ASSOCIATES LLP to serve as the co's independent registered public accounting firm beginning with 2Q10 results. HEIN replaces the co's previous independent registered accountants, Deloitte & Touche LLP... China Medical Technologies (CMED) announces the recent publication of a large sample study on the co's SPR analyzer and related HPV DNA chip for the detection of 16 high risk and 8 low risk genotypes of human papillomavirus... Century Casinos (CNTY) announces the co has extended its exclusive and long-term agreement with Oceania Cruises.
00:49
TSLA Tesla Motors prices 13.3 mln share IPO at $17.00/share, above the expected $14-16 range
Co increased size of offering to 13.3 mln shares from 11.1 mln shares.
00:38
On The Wires
EpiCept (EPCT) announces that it has submitted a New Drug Application to the FDA for Ceplene. EpiCept is seeking approval for Ceplene, administered concomitantly with low-dose interleukin-2, for the remission maintenance and prevention of relapse in patients with Acute Myeloid Leukemia in first complete remission... Fresenius Kabi Pharmaceuticals Holding(APCVZ) announces that APP Pharmaceuticals will immediately begin marketing Anastrozole tablets in the U.S., after the FDA granted approval to market the breast cancer treatment medication to Fresenius Kabi Oncology Ltd... California Water Service Group (CWT) announces that its largest subsidiary, California Water Service Co, has entered into a settlement agreement with the California Public Utilities Commission's Division of Ratepayer Advocates and other participants on its co-wide 2009 General Rate Case... Sempra LNG, a subsidiary of Sempra Energy (SRE), reports that a Mexican federal appeals court has revoked a June 17 district court order that had directed Mexican regulatory agencies to suspend authorizations for the operations of Sempra LNG's liquefied natural gas terminal near Ensenada, Mexico... Grupo Aeroportuario del Sureste, S.A.B. de C.V. (ASR) is not aware of any material changes in management or operations of the co which may have contributed to the unusually high trading volume of Ordinary Shares on the Mexican Bolsa and of ADSs on the NYSE. ASUR has been advised that a shareholder with a derivatives position related to ASUR's stock closed out their position and that such action by the shareholder may have caused the unusually high trading volume.
19:10
JAV Javelin Pharmaceutic popped ~52% to $2.10 following 19:09 M&A news (1.38 -0.01) -Update-
19:09
JAV Javelin Pharmaceutic: HSP announces intention to complete tender offer for shares of JAV (1.38 -0.01)
Hospira (HSP) announced its intention to complete the tender offer by Discus Acquisition Corporation, a wholly owned Hospira subsidiary, for all outstanding shares of the common stock of JAV, upon its currently scheduled expiration at 12:00 midnight, New York City time, on June 30, 2010 (the end of the day on June 30, 2010). JAV has notified HSP that it is prepared to deliver a closing certificate in accordance with the merger agreement among the parties confirming the accuracy of its representations and warranties and its performance of all of its obligations under the merger agreement as of the end of the current offer period.
18:33
USO August crude oil trading modestly lower in electronic trade; currently $78.07, down $0.18 (35.21 -0.45)
18:30
MNKD Mannkind: AFREZZA demonstrates long-term efficacy in controlling blood sugar levels in patients with Type 2 diabetes (6.85 -0.26) -Update-
Co annonced AFREZZATM (insulin human [rDNA origin]) Inhalation Powder, a well-tolerated, investigational ultra rapid acting mealtime insulin, as part of a diabetes treatment regimen, provides long-term glucose control comparable to usual insulin therapy but with a significantly reduced incidence of hypoglycemia and less weight gain in patients with Type 2 diabetes, according to a two-year study presented today at the American Diabetes Association's 70th Scientific Sessions. Two-year findings presented at the American Diabetes Association's 70th Scientific Sessions also show significantly less hypoglycemia than standard of care.
18:28
Futures are lower after hours with S&P 500 futures 1.06 points below fair value of 1070.66 and Nasdaq 100 futures 3.38 points below fair value of 1835.38.
18:27
PRPX Portec Rail Products co announces preliminary injunction to tender offer and merger dissolved (11.33 -0.06)
Co announced that on June 24, 2010, the Court of Common Pleas of Allegheny County, Pennsylvania (the "Court") issued an Order of Court granting the Motion to Dissolve Preliminary Injunction in the case styled In Re Portec Rail Products, Inc. Shareholders Litigation.
18:09
SMMX Symyx Technologies, Inc. Board of Directors Rejects Certara Corporation's "Best and Final" Proposal of $5.75/share (5.31 -0.27) -Update-
SMMX announced that its board of directors determined that the June 28, 2010 "best and final" proposal received from Certara, Tripos International and Pharsight (collectively referred to as "Certara") and Vector Capital ("Vector") (collectively the "Certara/Vector proposal") to acquire all of the outstanding capital stock of SMMX for $5.75 per share in cash, continues not to constitute a Co Superior Offer as defined in the Symyx merger agreement dated April 5, 2010 with ACCL, would not reasonably be expected to result in a Co Superior Offer and is not in the best interests of SMMX stockholders.
18:00
CAT Caterpillar to increase excavator production in China (64.40 -0.31)
Co announced its expansion plans for the company's excavator facility in Xuzhou, China. As a part of its overall excavator sourcing plans, Caterpillar has also reached an agreement with Xuzhou Construction Machinery Group (XCMG) to acquire XCMG's 15.87% ownership interest in Caterpillar Xuzhou Limited (CXL), a joint venture between Caterpillar and XCMG that was initially established in 1995. When complete, CXL will be a wholly-owned Caterpillar company. CAT is not releasing terms of the transaction, which is subject to Chinese regulatory approval.
17:51
BKS Barnes & Noble misses by $0.08, beats on revs; guides Q1 EPS below consensus; guides FY11 revs above consensus (16.41 -0.02)
Reports Q4 (Apr) loss of $0.89 per share, excluding non-recurring items, $0.08 worse than the Thomson Reuters consensus of ($0.81); revenues rose 17.6% year/year to $1.3 bln vs the $1.28 bln consensus. Co issues downside guidance for Q1, sees EPS of $(1.15)-(0.85) vs. ($0.44) Thomson Reuters consensus. Co issues guidance for FY11, sees EPS of $(0.10)-0.30, excl deferral, may not be comparable to $0.80 Thomson Reuters consensus; sees FY11 revs growth of 20-25%, which equates to ~$6.97-7.26 bln vs. $6.72 bln Thomson Reuters consensus.
17:20
BKI Buckeye Technologies Florida facility regains full operations as expected June 23; co sees Q4 EPS of $0.24-0.27 vs. $0.28 Thomson Reuters consensus (11.00 -0.44)
Co announced that its Foley Plant in Perry, Florida, which manufactures specialty wood cellulose and fluff pulp, has returned to full operation. The plant suffered a power failure and outage on June 17. The Co confirmed that it continues to expect the financial impact of the outage, excluding the effect of any insurance proceeds, to be in the range of a $4 to $5 mln reduction in pretax operating income for the quarter ending June 30.
17:13
DEPO Depomed announces receipt of a $10 mln milestone payment for DM-1796 (2.98 -0.02) -Update-
Co announced that it has received a $10 million milestone payment from Abbott Products, Inc., its licensee of DM-1796, for the U.S. Food and Drug Administration's acceptance for filing of the New Drug Application for DM-1796 for the management of postherpetic neuralgia, or pain after shingles.
17:07
ZEP Zep beats by $0.04 (17.19 +0.05)
Reports Q3 (May) earnings of $0.30 per share, excludes non-recurring items, $0.04 better than the First Call consensus of $0.26; revenues rose 24% year/year to $153.0 mln vs the $153.1 mln consensus.
17:00
SXL Sunoco Logistics Partners L.P. acquires Texon's butane blending business; transaction is expected to be immediately accretive (72.24 +0.49)
Co announced that it has signed a definitive agreement to acquire a butane blending business from Texon L.P. for $140 mln plus inventory. The Partnership expects to fund the acquisition with a $100 mln loan from Sunoco, Inc. and borrowings under its revolving credit facility. The transaction is expected to close July 1 and will be immediately accretive.
17:00
MLP Maui Land & Pineapple Co announces subscription price for rights offering at $3.85 (3.74 -0.01)
Co announced the subscription price for its previously announced $40 mln rights offering of common stock to its shareholders
16:46
SCI Service Corp: Contract negotiations resume with Texas-Based funeral industry giant (7.85 -0.02)
Co Contract negotiations between Teamsters Local 727 and funeral industry giant Service Corporation International (NYSE: SCI) are set to resume Tuesday, June 29, 2010, with the possibility of labor disputes at 17 area funeral homes and facilities hanging in the balance. The final two bargaining sessions are scheduled for Tuesday, June 29, and Wednesday, June 30 - the day the current three-year contract expires. If an agreement cannot be reached, the funeral directors and drivers will take a strike vote on Wednesday, June 30.
16:32
FFCO FedFirst Financial confirms Plan of Conversion and Reorganization was approved (5.65 +0.05)
Co announced that the Plan of Conversion and Reorganization was approved by the members of FedFirst Financial Mutual Holding Company and the shareholders of FedFirst Financial Corporation. Co also announced that FedFirst Financial Corporation, the newly formed Maryland corporation and proposed holding company, has commenced a syndicated community offering to complete the sale of shares in the offering being conducted in connection with the second step conversion of First Federal Savings Bank at a purchase price of $10.00 per share.
16:32
DARA DARA BioSciences reports on SurgiVision receiving FDA Clearance to market its ClearPoint System (3.90 -0.02)
The co announces that SurgiVision, Inc., a privately held company of which DARA owns 1,613,258 shares and warrants to purchase an additional 405,000 shares, has received 510(k) clearance from the Food and Drug Administration (FDA) to market their ClearPoint system in the United States for general neurological interventional procedures.
16:31
EGN Energen announces Chattanooga Well frac set for late July (45.30 -0.26)
Co said that the 3,000 foot horizontal length of its Chattanooga shale test well, the Westervelt 19-2 #1, has been drilled and set and is scheduled to be hydraulically fractured in late July. A minor delay while drilling the horizontal leg caused the company to have to reschedule its planned, multi-stage nitrogen frac. Energen also plans to frac in late July an uphole interval in the Marchant 22-16 #1. Energen had hoped to have well results to disclose in June; a determination of the two shales' economic viability may not be known now until late summer/early fall.
16:30
RSG Republic Services names Don Slager to succeed Jim O'Connor as CEO; O'Connor to retire in January 2011 (30.89 -0.08)
Co announced that James E. O'Connor, 61, will retire from his position as chief executive officer of the company on January 1, 2011 after leading the company for 12 years. Mr. O'Connor will continue to serve as a director, and as the chairman of the board, until the next annual meeting of stockholders in May 2011.
16:30
HALO Halozyme Therapeutics: Coinjection of Halozyme's rHuPH20 enzyme accelerates the absorption and action of mealtime insulin analogs (7.58 +0.22) -Update-
Co announced clinical trial results showing that the addition of its proprietary rHuPH20 (recombinant human hyaluronidase, PH20) enzyme to three different mealtime insulin analogs accelerated their absorption. The acceleration produced by the coadministration of rHuPH20 produced significantly more pronounced insulin effects during the first hour after injection as well as a more rapid diminution of insulin effects two to four hours after administration compared to the analogs alone. The coinjection of PH20 with lispro (Humalog), aspart (NovoLog) and glulisine (Apidra) results in a more physiologic fast-in, fast-out profile and enhances the glucodynamic performance for each analog.
16:23
WCRX Warner Chilcott: Par Pharmaceutical (PRX) filed ANDA for a generic version of ASACOL 400 mg (23.80 -0.50)
Co received a Paragraph IV Certification Notice from Par Pharmaceutical (PRX) that advises it of the filing of an ANDA by Par for a generic version of the Company's ASACOL 400 mg delayed release mesalamine product.
16:22
KSU Kansas City Southern nnounces Michael Haverty elected Executive Chairman; David Starling elected President and Chief Executive Officer (36.63 -0.66)
16:18
MDU MDU Resources division announced that two new wind projects have achieved commercial operation (18.74 +0.07)
Montana-Dakota Utilities Co. announced today that two new wind projects have achieved commercial operation. Montana-Dakota, a division of MDU Resources Group, constructed an additional 30 megawatts of wind generation in two locations.
16:18
MMM 3M sees Q2 revs of $6.6-6.75 bln vs. $6.57 bln Thomson Reuters consensus (78.98 +0.08)
Co announced that at an institutional investor and analyst meeting tomorrow at the co's Cynthiana, Kentucky manufacturing facility, MMM will reiterate the co's commitment to investing in its core businesses to accelerate sales growth. The co will cite a number of factors contributing to faster growth including new products and continued strong demand in emerging economies. Co will also report that Q2 2010 sales are projected to be in the range of $6.6-6.75 bln vs. $6.57 bln Thomson Reuters consensus, reflecting an estimated 16-18% growth in organic sales volumes versus the Q2 of 2009. Total-dollar sales are expected to rise between 4-6% versus Q1 of 2010.
16:16
NOC Northrop Grumman anticipates work stoppage at the Hagerstown facility (58.42 -0.18)
In anticipation of a possible work stoppage at the Hagerstown Maintenance and Modification Center in Hagerstown, Md., Northrop Grumman has issued Worker Adjustment and Retraining Notifications (WARN) to 59 employees at the facility.
16:15
FRX Forest Labs and Gedeon Richter announce results from a Phase II study of Radiprodil for the treatment of diabetic peripheral neuropathic pain (27.97 +0.34)
Co today announced top-line results from a Phase II placebo and positive comparator-controlled, parallel-arm, double-blind, dose-response clinical trial of the novel, investigational NR2B-selective NMDA receptor antagonist, radiprodil, for the treatment of neuropathic pain associated with diabetic peripheral neuropathy. Treatment with radiprodil did not show statistically significant or clinically meaningful reductions in mean daily pain scores, the primary endpoint, compared to placebo for any of the dosages studied.
16:15
XRM Xerium Tech will close its Stowe Woodward, North Bay, Ontario facility; expects to record restructuring expenses of ~$4 mln related to the closure of this facility (14.05 -0.37)
Co announced that it will implement a reorganization and consolidation that will result in the closing of its Stowe Woodward, North Bay, Ontario facility. It is expected that production will cease at this location by August 20, 2010. Stowe Woodward is a recognized leader in roll technology in the papermaking industry.
16:11
SPIR Spire receives DOE grant to develop LED based solar simulator (3.62 +0.09)
Co announced it has been selected by the Department of Energy (DOE) as the recipient of a Small Business Innovation Research grant to develop a light emitting diode (LED) based solar simulator.
16:06
CLC CLARCOR names Christopher Conway new President and Chief Operating Officer (36.85 +0.31)
16:04
GIS General Mills declares dividend increase; also approved an authorization for the company to repurchase up to 100 mln common shares (37.51 +0.17)
Co declared an increase in the quarterly dividend rate to $0.28 per share, payable Aug. 2, 2010, to shareholders of record July 12, 2010. The new annualized dividend rate of $1.12 per share represents a 17 percent increase over dividends of $0.96 per share paid in fiscal 2010. Co also approved an authorization for the company to repurchase up to 100 million common shares. The new authorization replaces the previous repurchase authorization established in December 2006, and has no expiration date.
16:04
AMMD American Medical announces FDA clearance for MiniArc Precise Single-Incision sling (22.74 -0.01)
16:03
SMSC SMSC beats by $0.06, beats on revs; guides Q2 EPS and revs above consensus (23.34 -0.20)
Reports Q1 (May) earnings of $0.33 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.27; revenues rose 55.5% year/year to $97.2 mln vs the $86.5 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.40-0.44, excluding non-recurring items, vs. $0.37 Thomson Reuters consensus; sees Q2 revs of $101-104 mln vs. $95.27 mln Thomson Reuters consensus. "Both SMSC's Automotive and Analog product lines achieved record revenue levels, and we also saw strength in PC, PC peripheral and industrial sales during the first quarter of fiscal 2011."
16:02
RMBS Rambus: GE Lighting and Rambus sign license agreement to create LED lighting solutions for global markets (18.53 +0.22)
16:00
FTI FMC Tech: Petrobras (PBR) awards FMC Technologies $300 mln subsea manifold frame agreement (52.68 -1.24)
16:00
BMTI Biomimetic Therapeutics receives filing letter from FDA for Augment Bone Graft PMA (11.82 -0.15)
Co announced the Food & Drug Administration (FDA) has accepted for review its Premarket Approval (PMA) application for Augment Bone Graft for use in foot and ankle fusions in the U.S. The FDA has now filed the application and begun the comprehensive review of the clinical module. Now that the FDA has officially accepted the application, the Company anticipates receiving additional feedback from the Agency in the third quarter, with an advisory panel review late this year or early 2011.
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