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Market Update 110214

4:30 pm : The absence of any real catalyst kept traders on the sidelines, but a big bounce by energy stocks led the broader market to a modest gain that has left it just a point shy of a 100% gain from its 2008 low.

Stocks chopped along listlessly in the early going. There were neither influential corporate announcements nor data to provide direction. Action abroad also failed to offer any kind of cue.

Although the broader market was mired in a relatively narrow range for most of the day, energy stocks surged. The sector settled with a 2.1% gain, even though energy commodity prices finished mixed -- March crude oil settled 0.9% lower at $84.81 per barrel, but March natural gas gained 0.5% to $3.93 per MMBtu. Oil and gas drillers (+3.0%) and refiners (+3.6%) were the sector's top performers.

Also natural resource plays, materials stocks found favor. The sector finished with a 1.0% gain in the face of a stronger dollar, which settled with a 0.2% gain after it had set a three-week high in the early going.

Every other major sectors was caught up in the broader market's lackluster trade. As a result, they finished mixed. Despite that, the S&P 500 was still able to muster a modest gain, which incrementally extended the stock market's two-year high. With today's gain, the S&P 500 is now up almost 100% from its March 2009 low just beneath 667.

Participation this session was paltry, though. Trading volume on the NYSE barely broke 800 million shares. That makes for the worst share volume total of this year.

Advancing Sectors: Energy (+2.1%), Materials (+1.0%), Health Care (+0.3%), Tech (+0.2%), Financial (+0.1%)
Declining Sectors: Industrials (-0.1%), Consumer Discretionary (-0.4%), Consumer Staples (-0.5%), Telecom (-0.5%), Utilities (-0.8%) DJ30 -5.07 NASDAQ +7.74 NQ100 +0.3% R2K +0.5% SP400 +0.5% SP500 +3.17 NASDAQ Adv/Vol/Dec 1439/1.97 bln/1231 NYSE Adv/Vol/Dec 1652/815 mln/1329

3:30 pm : Commodities, save for the grains sector (-0.6%), finished higher today. Energy and precious metals (+0.9%) led the way higher for commodities.

March silver finished higher by 1.8% to $30.53 per ounce. April gold ended up 0.3% to $1365.10 per ounce. Both metals rallied to their best levels in late morning trade but spent the remainder of the session trading sideways below their respective highs.

March crude oil settled lower by 0.9% to $84.81 per barrel. It was a relatively uneventful session for crude oil until approximately 15 min left in pit trade, prices dropped below the $85 level to their lowest levels in 2 months. March natural gas finished higher by 0.5% to $3.93 per MMBtu.

March copper, which settled up 2% to $4.63 per pound, traded to a new intraday high at $4.64 earlier today. Strong import data in China helped copper prices move higher today.DJ30 -7.87 NASDAQ +6.72 SP500 +2.64 NASDAQ Adv/Vol/Dec 1391/1.6 bln/1255 NYSE Adv/Vol/Dec 1592/561.3 mln/1385

3:00 pm : The S&P 500 recently broke free from its narrow trading range to set a fresh session high. The overall scope of the move and today's gain remain modest, though.

There weren't many corporate announcements ahead of the open and only a few are expected after the close, which is only an hour away. This evening's earnings announcements include the latest quarterly reports from Agilent (A 44.91, -0.11) and Marriott (MAR 41.06, -0.16), but tomorrow morning brings the latest from Marsh McLennan (MMC 28.79, -0.01) and Qwest (Q 7.43, +0.01). DJ30 +0.04 NASDAQ +6.69 SP500 +2.87 NASDAQ Adv/Vol/Dec 1410/1.46 bln/1214 NYSE Adv/Vol/Dec 1593/516 mln/1363

2:30 pm : Overall action remains mixed as the major equity averages continue to chop along in close proximity to the neutral line. Trade has been lackluster from the start.

Small-cap and mid-cap stocks are up with fairly decent gains, though. Specifically, the Russell 2000 Small-Cap Index is up 0.4% while the S&P 400 Mid-Cap Index is up 0.3%. Those gains have been enough to put both the Russell 2000 and the S&P 400 at their best levels in three years. DJ30 -12.30 NASDAQ +5.05 SP500 +1.73 NASDAQ Adv/Vol/Dec 1392/1.36 bln/1237 NYSE Adv/Vol/Dec 1576/472 mln/13888

2:00 pm : The S&P 500 has repeatedly extended two-year highs during the past two weeks. It closed Friday just off of that peak, which is near the 100% gain level from its 2009 low at 666.79.

However, the market has been unable to build on this momentum this session. Still, no selling interest has been evident. That has left the broader market to drift contently in a relatively narrow range today.

Trading around Treasuries remains quient, but they continue to hover near their best levels of the session. Today's buying has flattened the spread between 2-year and 10-year Notes to 277.3 points, which is a level not seen since the end of January. Meanwhile, the spread between the 10-year Note and the 30-year Bond is little changed at 105.3 points.DJ30 -13.70 NASDAQ +5.19 SP500 +1.62 NASDAQ Adv/Vol/Dec 1434/1.26 bln/1170 NYSE Adv/Vol/Dec 1561/435 mln/1383

1:30 pm : Energy stocks have encountered little resistance in their climb today. The sector is now up 1.9%. Meanwhile, the broader market is barely up 0.2%.

Energy's ascent comes in the face of flat energy prices. Specifically, oil prices are unchanged at $85.58 per barrel while natural gas prices are unchanged at $3.91 per MMBtu. DJ30 -8.44 NASDAQ +8.20 SP500 +2.21 NASDAQ Adv/Vol/Dec 1440/1.16 bln/1144 NYSE Adv/Vol/Dec 1569/404 mln/1348

1:00 pm : The major equity averages have spent the entire session chopping along in mixed fashion without much direction. However, natural resource stocks and semiconductor stocks have benefited from a strong bid.

A dearth of corporate news and an absence of data left participants without any real trading cues this morning. Action abroad offered little direction, too, since Europe's bourses were mixed in the wake of strong gains in Asia after it was speculated that China's upcoming CPI number wouldn't be too hot.

The lack of catalysts has kept plenty of traders on the sidelines and left stocks to trade largely under their own volition. Overall action has been mostly muddled all session.

However, energy issues and basic materials plays have made enviable bounces. Those two sectors are up 1.7% and 1.3%, respectively, as participants show favor for natural resource plays in the face of a stronger dollar, which is currently up 0.2% after it set a fresh three-week high this morning. Strength within both sectors is broad.

Natural resource plays have put quite a distance between themselves and the rest of the market. For instance, tech is the next best performing sector, but it is only up 0.3%. Almost all of that is owed to a 1.1% gain by semiconductor stocks, as measured by the Philadelphia Semiconductor Index. DJ30 -6.77 NASDAQ +8.51 SP500 +2.03 NASDAQ Adv/Vol/Dec 1470/1.07 bln/1124 NYSE Adv/Vol/Dec 1564/367 mln/1338

12:30 pm : Both the S&P 500 and Nasdaq are at session highs, but their gains remain modest. The Dow has yet to poke into positive territory.

Treasuries have had a relatively quiet session so far. Nonetheless, the benchmark 10-year Note is up slightly so that its yield has moved closer to 3.60%. DJ30 -6.85 NASDAQ +8.93 SP500 +1.89 NASDAQ Adv/Vol/Dec 1433/975 mln/1121 NYSE Adv/Vol/Dec 1507/335 mln/1373

12:00 pm : The broader market remains mired in mixed trade, making for a lackluster session.

Bank stocks have had a quiet session after surging 1.8% this past Friday. Regional banks had been big drivers of that move, but they have pulled back today. As such, Regions Financial (RF 7.88, -0.14), BB&T Corp (BBT 28.84, -0.28), and SunTrust Banks (STI 32.30, -0.23) have been laggards.

As for the overall financial sector, it is currently down 0.1%. DJ30 -16.84 NASDAQ +6.72 SP500 +0.89 NASDAQ Adv/Vol/Dec 1379/870 mln/1164 NYSE Adv/Vol/Dec 1468/300 mln/1376

11:30 am : The broader market has made its way back to the neutral line. Meanwhile, the energy sector has ascended to a fresh session high, where it sports a 1.3% gain. Strength in the sector has been broad in that equipment plays, drillers, and refiners are all up in excess of 1%. As a collective group, energy stocks are now up more than 10% this year.

Strength among energy issues this sesison comes even though oil prices are only up a narrow 0.1% to $85.65 per barrel at the moment. DJ30 -20.20 NASDAQ +4.83 SP500 -0.16 NASDAQ Adv/Vol/Dec 1323/745 mln/1187 NYSE Adv/Vol/Dec 1382/262 mln/1447

11:00 am : Stocks recently began to chop their way higher, but then quickly rolled over in response to a flurry of selling activity. Overall action remains mixed.

Natural resource plays have benefited from a strong bid, though. As such, the materials sector is up 0.9% and the energy sector is up 1.0%. Among basic materials issues, Freeport-McMoRan (FCX 55.86, +2.34) and U.S. Steel (X 60.57, +1.65) are primary leaders. Diamond Offshore (DO 72.49, +2.58) and Cameron International (CAM 58.62, +2.08) are leading the energy sector.

Tech, up 0.1%, is the only other sector in positive territory. It continues to benefit from strength in the semiconductor space; semiconductor stocks are collectively up 1.3%. DJ30 -30.46 NASDAQ +3.15 SP500 -1.23 NASDAQ Adv/Vol/Dec 1413/580 mln/1074 NYSE Adv/Vol/Dec 1379/213 mln/1397

10:35 am : The dollar index has pulling back from session highs of 78.873, but remains in positive territory. Despite the strength in the index, most of the commodities in the CRB Index are trading in positive territory, lead by the energy complex (+1.7%) and precious metals (+1%).

Precious metals moved higher after pit trading opened this morning, as April gold pushed into positive territory, to current session highs of $1366.60 per ounce, and March silver extended gains to current session highs of $30.44 per ounce. Gold is now up 0.3% at $1365.80 per ounce, while silver is 2% higher at $30.60 per ounce.

March crude oil was back near overnight lows of $85.13 around 30 minutes before pit trading began. However, it's since gained some strength and extended gains when pit trading opened, pushing it to current session highs of $86.37 per barrel. Crude is now up 0.9% at $86.36 per barrel.

March natural gas traded lower overnight and into the morning session. Around 8:00am ET (note pit trade opens at 9:00am ET), natural has rallied off morning lows of $3.86, pushing into positive territory over the next hour. In recent trade, the energy component hit new session highs of $3.93 per MMBtu and is currently back at that level.DJ30 -20.47 NASDAQ +7.97 SP500 +0.79 NASDAQ Adv/Vol/Dec 1363/422.9 mln/1079 NYSE Adv/Vol/Dec 1362/160.6 mln/1389

10:00 am : Broader market trade is still mixed, but semiconductor stocks continue to rise. Led by NVIDIA (NVDA 24.01, +0.54), the group is now up 1.2%.

Despite strength among semiconductor issues, the tech sector is only up 0.2%. That's mostly due to weakness in shares of Tellabs (TLAB 5.63, -0.16) and eBay (EBAY 33.97, -0.54).

Defensive-oriented issues like telecom and utilities have come under a rather pronounced spell of selling pressure in recent trade. Those sectors are down 0.8% and 0.9%, respectively.

Advancing Sectors: Energy (+0.8%), Materials (+0.7%), Tech (+0.1%), Industrials (+0.1%)
Unchanged: Financial
Declining Sectors: Utilities (-0.9%), Telecom (-0.8%), Consumer Discretionary (-0.4%), Consumer Staples (-0.4%), Health Care (-0.1%)DJ30 -25.77 NASDAQ +4.07 SP500 -0.30 NASDAQ Adv/Vol/Dec 1241/172 mln/1079 NYSE Adv/Vol/Dec 1298/93 mln/1355

09:45 am : The major equity averages are mixed in the first few minutes of trade. However, semiconductor stocks are showing early strength, which has helped the Philadelphia Semiconductor Index jump out to a 0.8% gain.

The lack of direction in the early going has kept many traders on the sidelines. In turn, share volume in the opening minutes of trade has been underwhelming. DJ30 -30.04 NASDAQ +2.10 SP500 -0.51 NASDAQ Adv/Vol/Dec 1062/55 mln/1114 NYSE Adv/Vol/Dec 1144/42 mln/1067

09:15 am : S&P futures vs fair value: -0.90. Nasdaq futures vs fair value: flat. Stock futures point to a flat start for today's trade. The lack of direction comes after stocks netted another gain last week that left the broad market at its best level in more than 30 months. The backdrop this morning has featured mixed action in Europe after Asia's major equity averages staged strong gains in response to speculation that upcoming inflationary readings will prove to be cooler than feared. Corporate announcements have been limited and no economic data have been posted, leaving premarket participants with few other cues to follow. The dollar set a three-week high against a basket of competing currencies earlier this morning, but it has since eased back to a 0.3% gain. The greenback's pullback has coincided with a modest upturn by commodities, which now have the CRB Commodity Index up 0.2%. As for Treasuries, they have gradually drifted down from the flat line to fractional losses.

09:05 am : S&P futures vs fair value: -0.70. Nasdaq futures vs fair value: -0.50. Commodities are somewhat mixed this morning. In turn, the CRB Commodity Index is up just 0.1%. Among its more widely tracked components, oil prices are down 0.1% to $85.50 per barrel in the first few minutes of pit trade. Natural gas prices are down 0.8% to $3.88 per MMBtu. Gold prices have fallen 0.1% to $1358.80 per ounce, but silver prices have advanced 0.8% to $30.22 per ounce. Mixed action among commodities comes amid another bounce by the greenback, which currently sports a 0.4% lead over a collection of competing currencies.

08:30 am : S&P futures vs fair value: -1.80. Nasdaq futures vs fair value: -1.50. Futures for the S&P 500 have slipped to morning lows, but only trail fair value by a modest margin. Meanwhile, action in Europe remains mixed. Germany's DAX set a new three-year high earlier this morning, but it has since eased off of that mark so that it trades with a 0.3% gain. Man SE, Linde AG, and BASF have been primary sources of support. In contrast, Allianz SE, Volkswagen, and Deutsche Bank (DB) have been sources of weakness. France's CAC fractionally extended its two-year high earlier, but has since slipped to a 0.1% loss. Axa (AXA), Total (TOT), and Vivendi have been the heaviest drags, but Air Liquide and Sanofi-Aventis (SNY) have offered some support to the broader market. Britain's FTSE has fallen to a 0.2% loss after it failed to hold an opening advance that made for an incrementally improved two-year high. Heavyweights HSBC (HBC), Lloyds Group (LYG), and Royal Dutch Shell (RDS.A) have hampered recent action and more than offset strength in Standard Charter, BP Plc (BP), and Xstrata (XTA). Data out of the eurozone indicate that industrial production during December fell 0.1% after a 1.2% increase in November.

Action in Asia was very strong overnight. Financial media reports attribute the strength to speculation that China's upcoming CPI reading will not be as high as what has been feared. A smaller-than-expected CPI figure could quell concerns about inflationary threats and, in turn, calls for tighter monetary policy, which could crimp economic growth. Already released, though, are data that indicate China's trade balance for January came in at $6.5 billion, which is down from $13.1 billion in December. Mainland China's Shanghai Composite closed its latest round of trade with a 2.5% gain, which is its best single-session move in two months. All 10 of its major sectors moved higher. Financials led the way with a 3.3% advance. PetroChina (PTR), Industrial & Commercial Bank, and China Life Insurance were individual leaders, though. Hong Kong's Hang Seng advanced 1.3% after it set a one-month low this past Friday. China Mobile, Bank of China, and Industrial & Commercial Bank were primary drivers of the move. Hutchison Whampoa was a notable laggard. Japan's Nikkei climbed 1.1% to set a nine-month high. Fanuc Corp, Honda Motor (HMC), and Softbank were key leaders. Fast Retailing faltered and, as a result, fell more than 1% to settle below its 50-day moving average, but just above its 200-day moving average.

08:00 am : S&P futures vs fair value: -1.10. Nasdaq futures vs fair value: -1.50. Stock futures are flat at the moment. The lack of direction comes amid a dearth of corporate announcements and mixed action abroad. The earnings calendar has started to thin, but merger and acquisition activity continues to move along. Among the most recent announcements, EchoStar (SATS) plans to acquire Hughes Communications (HUGH) for $60.70 per share. Although the takeover price actually represents a discout of about 2% from where HUGH closed trade this past Friday, the price marks a substantial premium over where the stock had traded prior to initial takeover rumors. Hercules Offshore (HERO) announced that it will acquire certain assets from Seahawk Drilling (HAWK), which plans to file for bankruptcy. Action in Europe has given little direction to premarket participants; the major bourses there are mixed in the wake of robust overnight gains in Asia. Treasuries are flat this morning. However, the greenback continues to gain ground against competing currencies. That has the Dollar Index up 0.5% to a new three-week high. No single dose of data is on tap for today.

06:45 am : [BRIEFING.COM] S&P futures vs fair value: -1.60. Nasdaq futures vs fair value: -1.30.


http://finance.yahoo.com/marketupdate/update

6:43PM MasTec reports that PacifiCorp awards contract to construct second energy gateway transmission expansion project (MTZ) 16.35 +0.80 : PacifiCorp today announced it has awarded a multi-year contract to build its Mona-Oquirrh transmission line in Utah, a key section of PacifiCorp's regional investment program to meet the current and projected needs of its electric customers. The contract has been awarded to EC Source, a MasTec (MTZ) affiliate. EC Source will provide engineering, procurement and construction services for this major transmission project, which will deliver additional power to serve customers of PacifiCorp's retail operating companies, Rocky Mountain Power and Pacific Power. Together, these companies serve more than 1.7 million customers in six western states.

6:36PM Titan to implement aftermarket price increase (TWI) 21.73 +0.31 : Titan Tire Corporation, a subsidiary of Titan International (TWI), will implement a price increase to all aftermarket dealers for Titan branded and Titan manufactured Goodyear branded farm and construction tires, effective April 1, 2011. The increase of up to 8 percent will offset rising raw material, energy and transportation costs. Certain tires prices may rise in excess of 8 percent due to realignment and positioning of the product. The increase will be effective on all tires shipped on or after April 1, 2011.

6:30PM CN says Canadian Auto Worker union members ratify new collective agreements (CNI) 69.98 -0.38 : Co announced that members of the Canadian Auto Workers union have ratified four-year collective agreements with the company and CNTL (a subsidiary of CN). The agreements, retroactive to Jan. 1, 2011, provide wage and benefit increases to CAW members. In addition, the settlements contain progressive provisions to help CN retain and attract skilled employees critical to its workforce in the years ahead.

6:30PM Key Energy Services announces tender offer for its 8 3/8% senior notes due 2014 (KEG) 12.90 -0.05 : Co announced that it has commenced a cash tender offer and consent solicitation with respect to any and all of the $425,000,000 aggregate outstanding principal amount of its 8 3/8% Senior Notes due 2014. In conjunction with the tender offer, Key Energy Services is soliciting noteholder consents to effect certain amendments to the indenture governing the Notes.

6:07PM Canadian Natural Resources Limited Provides Further Update to Horizon Primary Upgrader Incident; it is believed at this time that rebuild/repair costs will not exceed $250 mln (CNQ) 44.90 +1.07 : Co is continuing restoration of production from, and its investigation into, the fire at its coker unit at its Horizon Oil Sands ("Horizon") facility, which occurred on January 6, 2011. This update provides further information on the progress of the investigation and the anticipated recovery timelines. No detailed cost estimates for the repair/rebuild have yet been determined, although it is believed at this time that costs will not exceed $250 mln. The Co maintains an insurance program adequate to cover the cost of the repair/rebuild, as well as, business interruption insurance subject to a waiting period, to alleviate ongoing operating costs thereby mitigating financial impacts of the incident.

6:01PM North American Palladium provides gold exploration update; exploration success supports NAP's strategy to expand gold division (PAL) 7.24 +0.06 : Co released additional drill results from its 2010 exploration program at the Co's gold division in the Abitibi region in Quebec. During 2010, the Co decided to increase its drilling budgets on three projects, Flordin, Vezza and Discovery, following positive results received during the year. Drilling was increased from the original budget of 53,000 metres to 118,700 meters, resulting in a total of 563 underground and surface holes being drilled, at an approximate cost of $11 million.

5:59PM North American Palladium Provides Palladium Exploration; reports continued positive drill results throughout the Offset Zone (PAL) 7.24 +0.06 : Co provided an update on the drill results from its 2010 exploration program at the Co's flagship Lac des Iles ("LDI") palladium mine in Northern Ontario. These results (see appendix) are the third and final tranche of drill results from the 2010 drill program at LDI. Highlights: Continued positive drill results throughout the Offset Zone (including 40 metres at 6.2 g/t Pd), Excellent results from definition drilling in the top part of the Offset Zone, Offset Zone continues to extend higher towards surface, Deep drilling results confirm Offset Zone continues at depth, Cowboy Zone intersected again in Offset drilling

5:51PM Omnicom Group increases dividend 25% to $0.25 (OMC) 49.95 +0.52 :

5:45PM Magellan Petroleum reports Q2 EPS of ($0.04) bvs. ($0.06); revs fell 54% to $4.5 mln (MPET) 2.37 -0.01 :

5:42PM SkyWest, Inc. reports combined Jan traffic for SkyWest Airlines, Atlantic Southeast Airlines, and ExpressJet Airlines; SKYW reports 51.7% increase in revenue passanger miles (SKYW) 15.76 -0.18 : SkyWest, Inc., (SKYW) ("SkyWest") SkyWest reported a 50.6% increase in departures to 110,602 for January compared to 73,449 for the same period last year. Passenger boardings for January increased 47.0 percent to 4,023,903 compared to 2,737,931 for the same period last year. SkyWest also reported a 51.7 percent increase in revenue passenger miles (RPMs) for January, while available seat miles (ASMs) increased 53.7 percent compared to January 2010. The combined airlines generated 2.08 billion RPMs for the month, while ASMs increased to 2.87 billion. Load factor was 72.3 percent compared to 73.3 percent, down 1.0 percentage points compared to January 2010. The substantial increases for each of the items are due primarily to the acquisition of ExpressJet Airlines on November 12, 2010.

5:31PM Advanced Energy beats by $0.06, beats on revs; guides Q1 EPS in-line, revs in-line (AEIS) 15.79 +0.45 : Reports Q4 (Dec) earnings of $0.45 per share, $0.06 better than the Thomson Reuters consensus of $0.39; revenues rose 155.9% year/year to $148.7 mln vs the $145.3 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.32-0.38 vs. $0.34 Thomson Reuters consensus; sees Q1 revs of $132-142 mln vs. $136.29 mln Thomson Reuters consensus.

5:28PM Thermo Fisher Scientific prices offering of senior Notes (TMO) 57.15 -0.70 : Co announced that it has priced its previously announced offering of: $300 million aggregate principal amount of 2.050% senior notes due 2014 at an issue price of 99.971% of the principal amount, $900 million aggregate principal amount of 3.200% senior notes due 2016 at an issue price of 99.939% of the principal amount, and $1 billion aggregate principal amount of 4.500% senior notes due 2021 at an issue price of 99.353% of the principal amount. The issuance of the notes is expected to close on Feb 22, 2011. The notes will pay interest on a semi-annual basis. The co plans to use the proceeds of the offering to fund its acquisition of Dionex Corp, as well as for general corporate purposes. The aggregate purchase price of the Dionex acquisition, which was announced separately by the co, is estimated to be ~$2.1 bln. The joint book-running managers for the offering are Barclays Capital Inc. and J.P. Morgan Securities LLC.

5:19PM Cano Petroleum reports Q2 ($0.10) vs ($0.19) in last year's quarter; revs rose 0.7% to $5.68 mln (CFW) 0.37 -0.01 :

5:17PM Dynasil Corporation of America reports Q1 EPS of $0.03 vs. $0.04 in last year's quarter; revs rose 17% to a record $11.6 mln (DYSL) 4.75 +0.00 :

5:06PM Masco misses by $0.06, misses on revs (MAS) 14.19 +0.02 : Reports Q4 (Dec) loss of $0.08 per share, excluding non-recurring items, $0.06 worse than the Thomson Reuters consensus of ($0.02); revenues fell 8.6% year/year to $1.74 bln vs the $1.78 bln consensus. "The trends impacting our business including depressed new home construction, the deferral of "big ticket" repair and remodel activity and commodity cost pressures have continued into early 2011. We expect a challenging business environment, particularly in the first half of 2011; we expect the second half of 2011 to be stronger. The MBS continues to drive positive change across Masco: although we are incurring short-term costs, our Cabinet integration is on plan and we expect will ultimately drive fixed cost reductions and share gains."

5:04PM Time Warner Cable and the Los Angeles Lakers Sign Long-Term Agreement for Lakers Games, Beginning With 2012-2013 Season (TWC) 70.24 -0.87 : Time Warner Cable and the Los Angeles Lakers entered into a 20-year, wide-ranging agreement for rights to distribute all locally available pre-season, regular season, and post-season Lakers games, beginning with the 2012-2013 season. To showcase the games, TWC will launch two regional sports networks in HD, including the nation's first Spanish-language regional sports network, with new state-of-the-art facilities in Los Angeles, to bring fans the most compelling Lakers content using the latest technology.

5:02PM Albemarle to increase prices of SAYTEX brominated flame retardants (ALB) 57.62 +0.26 : Co announced that it will increase prices of SAYTEX flame retardants on shipments beginning April 1, 2011, or as contracts allow, at the following rates: SAYTEX 102E (decabromodiphenyl oxide) by $1.00/kg globally, SAYTEX HP-900 (P)/(G) (hexabromocyclododecane) by $1.50/kg globally, SAYTEX HP-3010 (brominated polystyrene) by 15% globally, SAYTEX HP-5010 (brominated polystyrene) by 15% globally, SAYTEX RB-49 (tetrabromophthalic anhydride) by $0.75/kg globally, SAYTEX RB-79 family of products (brominated diols) by $0.50/kg globally.

5:01PM Clark Holdings announces intention to explore financial and strategic alternatives (GLA) 0.49 +0.05 : Co announced that the Board of Directors has unanimously decided to explore financial and strategic alternatives to enhance shareholder value, including the possible sale or merger of the company. The Board of Directors has retained Eve Partners, LLC to assist it in the evaluation of these alternatives. The company noted that there can be no assurance that the exploration of strategic alternatives will result in any transaction.

4:44PM Arbitron CEO William T. Kerr extends employment agreement (ARB) 44.14 -0.02 : Co announced an extension of its employment agreement with William T. Kerr, President and Chief Executive Officer, that extends Mr. Kerr's employment as CEO through January 10, 2013. The term of his existing agreement would otherwise have expired January 10, 2012.

4:42PM Dynegy reports that Seneca Capital comments on the co to shareholders (DYN) 5.81 +0.14 : Seneca Capital, the second largest shareholder of Dynegy (DYN) with a 12% economic interest (including 9.3% voting common stock) is writing to address the latest chapter in Dynegy's scorched-earth campaign. Seneca Capital believes the materials disseminated by DYN on Friday represent yet another unfortunate attempt to corral support for a sale of the co at a low point in the cycle - a process that shareholders have now rejected four times. Seneca Capital urges DYN shareholders NOT TO TENDER their shares at $5.50 per share - it is the WRONG PRICE at the WRONG TIME for the WRONG REASONS. Seneca Capital believes that once the IEP tender is defeated this Friday and the merger agreement is subsequently dissolved, an overhang will be removed that will clear the path for investors to participate in the positive changes (including Board/management alignment with shareholders) at DYN that Seneca Capital is working vigorously to advance.

4:37PM Prospect Capital announces pricing of $150 mln of 5.5% 5.5-year unsecured convertible senior notes due August 2016 (PSEC) 11.60 -0.01 : Co intends to use the net proceeds from the sale of the notes to maintain balance sheet liquidity, including repayment of debt under its credit facility, investments in high quality short-term debt instruments or a combination thereof, and thereafter to make long-term investments in accordance with co's investment objectives.

4:32PM Onstream Media reports Q1 EPS of ($0.10) vs. ($0.58) in last year's quarter; revs rose 4.1% to $4.2 mln (ONSM) 1.09 +0.08 : Co said, "As expected, during the first quarter of fiscal 2011 and continuing into the second quarter, we have signed a number of new MP365 promoter agreements. In addition to our four active marketplaces, we have 20 signed MP365 promoter contracts in hand and other exciting prospect companies are in the pipeline. Several of these existing contracts are expected to launch and become active in the coming weeks and months. Due to the anticipated increases in conferencing, webcasting and DMSP and hosting revenues, as well as our anticipation of the start of meaningful revenues from our MP365 platform, we expect revenue increases to continue throughout 2011."

4:32PM Aastrom Biosciences announces restatement of historical financial results to reflect reclassification of warrants (ASTM) 2.44 -0.09 : Co will be restating its financial statements for all periods included in an amended annual report on Form 10-K/A for the fiscal period ended June 30, 2010 as a result of comments received from the Securities and Exchange Commission following a review of the company's annual report on Form 10-K for the fiscal year ended June 30, 2010. The restatements will correct for a misapplication of the accounting for warrants to purchase shares of the company's common stock that were issued in connection with prior equity offerings. These warrants will now be reclassified as liabilities, with changes in the fair value of the warrants recorded as non-cash income or expense in each reporting period. All the restatements involve non-cash, non-operating expenses and will have no impact on the company's current or previously stated cash position, operating expenses or cash flows. Aastrom anticipates filing the amended annual and quarterly reports within the next two weeks, but is presently targeting such a filing on or before February 18, 2011 with restated financial statements reflecting the treatments of the warrants described above.

4:31PM Technical Communications receives an order valued at ~$1.1 million for further expansion of its DSP 9000 radio encryptor deployments in Afghanistan (TCCO) 10.26 +0.06 :

4:31PM Bridge Capital received regulatory approval to repay $24.0 mln in TARP Capital Purchase Program funds (BBNK) 9.00 +0.05 : Co announced today that it has received regulatory approval to repay $24.0 million in TARP Capital Purchase Program funds, plus accrued but unpaid dividends, to the U.S. Treasury. The company expects to redeem all of the shares of its Series C Preferred Stock that were originally issued to the U.S. Treasury under the program.

4:30PM Arbitron extends employment agreement with William T. Kerr, President and Chief Executive Officer (ARB) 44.14 -0.02 : Co announced an extension of its employment agreement with William T. Kerr, President and Chief Executive Officer, that extends Mr. Kerr's employment as CEO through January 10, 2013. The term of his existing agreement would otherwise have expired January 10, 2012.

4:30PM Penske Auto announces they have started negotiations to transition the distribution rights, management, sales and marketing activities of smart USA from Penske Automotive Group to Mercedes-Benz USA (PAG) 19.54 +0.09 :

4:29PM China Direct reports Q1 EPS of $0.09 vs. (0.04) in last year's quarter; revs rose 105.7% to $45.8 mln (CDII) 1.52 -0.06 : Co gives outlook as follows, "As overall trends in our end-markets continue to improve and our revenue base has strengthened across all of our business segments, the Company sees revenue for the full 2011 fiscal year of $180 million with net income of $12 million"

4:29PM Viacom agrees to sell $500 million in aggregate principal amount of 4.50% senior notes due 2021 at a price equal to 98.32% of the principal amount thereof (VIA) 51.67 +0.13 :

4:27PM Almaden Minerals report that its winter 2011 joint venture exploration program at its 58.8% owned ATW Diamond Property is now underway (AAU) 4.42 +0.62 : The JV is operated by Almaden and all parties have a working interest. The ATW diamond property is located at Mackay Lake, NWT and is in close proximity to a number of active diamond projects: The Diavik Mine lies about 29 kilometres north, the Snap Lake Project is about 68 kilometres southwest, the Mountain Province/De Beers Gacho Kue Project is about 72 kilometres southeast, and Peregrine Diamonds Ltd.'s DO-27 Kimberlite lies 20 kilometres to the northeast.

4:24PM Curtiss-Wright reports EPS in-line, beats on revs; guides FY11 EPS in-line, revs above consensus (CW) 36.00 -0.02 : Reports Q4 (Dec) earnings of $0.74 per share, excluding $0.05 favorable tax rate due to higher foreign tax credits, in-line with the Thomson Reuters consensus of $0.74; revenues rose 4.1% year/year to $523.4 mln vs the $484.1 mln consensus. Co issues mixed guidance for FY11, sees EPS of $2.48-2.58 vs. $2.49 Thomson Reuters consensus; sees FY11 revs of $1.96-1.99 bln vs. $1.94 bln Thomson Reuters consensus.

4:19PM Omega Navigation Enterprises announces third party purchased minority equity interest in the Omega subsidiary (ONAV) 1.10 0.00 : Co announces that an unaffiliated third party has purchased at Omega's original book cost a 20% minority equity interest in the Omega subsidiary that owns a 50% interest in Megacore Shipping Ltd. Omega retains full control of this subsidiary, 80% of the shares of which remain under the ownership of Omega. The proceeds from the sale are used by Omega to fund newbuilding payments on the Panamax product tankers for the joint venture. The sale of the minority stake has limited the equity requirements by Omega for the purchase of the newbuildings.

4:16PM Silicon Graphics announces that University of Sao Paulo has selected SGI Altix ICE 8400 for its high performance computing system to enable advanced scientific astronomical research in Brazil (SGI) 15.84 +0.11 :

4:14PM US Gold Corp intends to offer 15 mln shares of its common stock in a public underwritten offering in the United States and Canada (UXG) 7.30 +0.07 : US Gold intends to use the net proceeds from this offering to complete feasibility study work and acquire long lead-time capital items for the El Gallo Project in Mexico, complete pre-feasibility and feasibility work at the Gold Bar Project in Nevada, continue ongoing aggressive exploration programs in Mexico and Nevada and for general corporate purposes. Dahlman Rose & Company, and GMP Securities are acting as joint book-runners for the offering and Scotia Capital and StifelNicolaus are acting as co-managers.

4:14PM Marriott beats by $0.03, beats on revs; guides Q1 EPS below consensus; guides FY11 EPS in-line (MAR) 41.00 -0.022 : Reports Q4 (Dec) earnings of $0.39 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.36; revenues rose 7.8% year/year to $3.64 bln vs the $3.58 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.24-0.28, excluding non-recurring items, vs. $0.30 Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $1.35-1.45 bln vs. $1.40 Thomson Reuters consensus.

4:12PM Arch Capital beats by $0.20 (ACGL) 91.14 -1.12 : Reports Q4 (Dec) earnings of $2.58 per share, $0.20 better than the Thomson Reuters consensus of $2.38. The company's book value per common share was $89.98 at December 31, 2010, a 0.8% increase from $89.24 per share at September 30, 2010 and a 23.2% increase from $73.01 per share at December 31, 2009.

4:11PM Agilent beats by $0.02, misses on revs; guides Q2 EPS above consensus, revs above consensus; guides FY11 EPS above consensus, revs in-line (A) 12.57 +0.18 : Reports Q1 (Jan) earnings of $0.60 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.58; revenues rose 25.2% year/year to $1.52 bln vs the $1.55 bln consensus. Co issues upside guidance for Q2, sees EPS of $0.63-0.65, excluding non-recurring items, vs. $0.60 Thomson Reuters consensus; sees Q2 revs of $1.59-1.61 bln vs. $1.56 bln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $2.53-2.63, excluding non-recurring items, vs. $2.50 Thomson Reuters consensus; sees FY11 revs of $6.3-6.4 bln vs. $6.32 bln Thomson Reuters consensus.

4:11PM Kendle announces CEO succession plan; promotes Stephen Cutler, co's COO, to President and CEO; promotes Jamie Macdonald to COO (KNDL) 12.09 +0.32 : Co announces that as part of a planned succession Senior Vice President and COO Stephen Cutler, PhD, will become the Company's next President and CEO. Chairman and CEO Candace Kendle, PharmD, will continue to serve as Chairman. Assuming the role of Senior Vice President and COO from Cutler will be Jamie Macdonald.

4:10PM FedEx lowers Q3 EPS guidance due to impacts of severe weather and higher than expected fuel prices (FDX) 93.99 -1.43 : FDX Q3 EPS has been negatively impacted by an estimated $0.25 per diluted share due to loss of rev and increased expenses resulting from severe winter storms and higher-than-expected fuel prices. Co lowers Q3 EPS guidance to $0.70-0.90, ex-items, from $0.95-1.15 vs. the $1.04 consensus. "We experienced significant network disruptions in the U.S. and Europe and unusually high costs from severe winter storms. In addition, fuel prices continued to escalate since we provided our earnings outlook in December. We continue to see strength in our base business across all transportation segments and geographies." These costs will also impact earnings guidance for the full year, which the co will update when it announces third quarter earnings on March 16, 2011.

4:08PM NASDAQ Chief Financial Officer and Executive Vice President, Corporate Strategy to depart co, effective 3/4 (NDAQ) 29.66 +1.54 : Former NASDAQ OMX CFO David Warren has been appointed special advisor to the CEO and Ronald Hassen, Senior Vice President, Controller and Principal Accounting Officer will become interim CFO, while a permanent replacement is sought.

4:07PM Annaly Mortgage announces that it intends to make a public offering of 75 mln shares of its common stock (NLY) 17.94 -0.01 : Co expects to use the proceeds of this offering to purchase mortgage-backed securities for its investment portfolio and for general corporate purposes, which may include additional investments and repayment of short-term indebtedness. Credit Suisse Securities (USA) LLC is acting as the lead book-running manager for the offering. BofA Merrill Lynch, Deutsche Bank Securities, Morgan Stanley and RCap Securities, Inc. are acting as book-running managers.

4:07PM Encore Capital beats by $0.09, beats on revs (ECPG) 23.60 +0.42 : Reports Q4 (Dec) earnings of $0.56 per share, $0.09 better than the Thomson Reuters consensus of $0.47; revenues rose 22.3% year/year to $99.7 mln vs the $97.2 mln consensus. Separately, the Company announced that on February 11, 2011, it obtained an additional $50.0 million in commitments from lenders and exercised half of its $100.0 million accordion feature. The Company thereby increased its revolving credit facility to $410.5 million from $360.5 million, leaving $50.0 million available under the accordion feature.

4:07PM Amicus Therapeutics reports Q4 net loss per share of ($0.48) vs. ($0.15) Thomson Reuters Consensus; revenue of $922K vs. $9 mln consensus estimate (FOLD) 6.70 +0.29 : As previously reported, the company expects to spend a total of $45 to $55 million on 2011 operating expenses, net of cost sharing and milestones related to the GSK collaboration.

4:07PM Masco announces an expanded strategic relationship in which Owens Corning (OC) becomes the preferred fiberglass insulation provider to Masco Contractor Services (MAS) 14.19 +0.02 :

4:03PM Mack-Cali Realty commenced a public offering of 5.5 mln shares of common stock (CLI) 34.62 -0.09 : BofA Merrill Lynch, Deutsche Bank Securities and J.P. Morgan will serve as the joint book-running managers.

4:03PM Thoratec authoprizes $100 mln share repurchase program (THOR) 27.15 +0.18 :

4:03PM FMC Tech beats by $0.12, beats on revs; guides FY11 EPS in-line (FTI) 91.40 +1.92 : Reports Q4 (Dec) earnings of $0.82 per share, $0.12 better than the Thomson Reuters consensus of $0.70; revenues fell 5.2% year/year to $1.1 bln vs the $1.04 bln consensus. Co issues in-line guidance for FY11, sees EPS of $3.20-3.40 vs. $3.34 Thomson Reuters consensus.

4:03PM Limelight Networks beats by $0.01, beats on revs; guides Q1 revs in-line (LLNW) 6.46 +0.46 : Reports Q4 (Dec) earnings of $0.01 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of ($0.00); revenues rose 64.3% year/year to $55.2 mln vs the $53.3 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $48.0-49.5 mln vs. $48.20 mln Thomson Reuters consensus. Q4 Mobile revenue growth exceeded 200% YoY; Q4 Site and application acceleration services growth exceeded 150% YoY; Q4 Enterprise cloud storage growth exceeded 40% YoY; Q4 Online video platform growth exceeded 110% YoY

4:02PM DCT Industrial Trust commences a public offering of 19 mln shares of common stock (DCT) 5.56 +0.04 : BofA Merrill Lynch, J.P. Morgan and Wells Fargo Securities will serve as the joint book-running managers for the offering.

4:01PM Informatica Calls 3% convertible senior notes due 2026 (INFA) 49.56 +0.15 :

4:01PM Mitek Systems signs agreement with Chase for Mobile Deposit (MITK) 5.95 -0.55 : Co announces the leading highlight of the quarter is an agreement with J. P. Morgan Chase (JPM) under which it will deploy Mitek's flagship Mobile Deposit solution in the next version of its widely advertised mobile check-deposit application.

4:00PM ATS announces new 5-yr contract totaling $19.5 million with the U.S. Department of Homeland Security Science and Technology Directorate (ATSC) 3.74 +0.03 :

3:56PM Late day push in S&P +3.4 to new session/multi-year year of 1332.96 (SPY) : The 100% gain level off the March 2009 bear market low of 666 is at 1332 (exact low was 666.79, 100% gain level 1333.58).

3:52PM Metals USA announces 5-yr, $230 mln Department of Defense contract award (MUSA) 15.94 +0.07 : Co announces that the Defense Logistics Agency, the Department of Defense's combat logistics support agency, has exercised its option to extend the existing Metals Prime Vendor contract with Metals USA Holdings Corp., through its wholly-owned subsidiary, I-Solutions Direct, Inc., to supply the Southeast Region of the United States. The contract extension represents the first option year of the contract's potential five year term, consisting of a two year base and three one-year option extensions. The Southeast Region Metals Prime Vendor contract is subject to a five-year maximum limit of $230 million.

3:23PM Starbucks pushes to fresh high of 33.64 (SBUX) 33.57 +0.22 : Afternoon jump probes its multi-year close high from Jan at 33.65, the Jan intraday peak is at 33.78.

3:08PM Oil Service HOLDRS Trust working back toward morning peak at 158.67, its Feb/multi-year high is slightly above at 158.88 (OIH) 158.43 +3.76 : BHI, CAM, DO, ESV, EXH, HAL, NBR, NE, NOV, RDC, RIG, SLB, TDW, WFT.

3:03PM Anadarko Petro establishes a minor new session high of 79.91, hovering modestly under its multi-year close high from early in the month at 80.03 (APC) 79.89 +1.40 : The Feb/multi-year intraday high and the top of its Jan/Feb trading range is at 80.60.

3:01PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Ag commodities pull back following USDA report (see 12:49 and 13:13 comment) (COMDX) : March corn finished down 10.75 cents to $6.9575, March wheat rose 5.0 cents to close at $8.72, March soybeans fell 13.25 cents to close at $14.0275, Feb ethanol closed down 0.019 at 2.446, while March world sugar futures closed down 0.39 cents to 30.91 cents.

2:52PM Shaw Comms announces the reopening of its 6.75% senior unsecured notes due 2039 for an additional C$400 million (SJR) 21.90 +0.06 : The net proceeds of this offering will be used for repayment of debt incurred under co's credit facility and for working capital and general corporate purposes. Closing is scheduled to occur on February 17, 2011 and, based on the closing purchase price, the effective yield of the senior notes being offered, if held to maturity, is 6.961%.

2:51PM S&P +2.8 and Dow -1 break above midday range peaks to set minor new session highs -- Nasdaq Comp +7 still range bound (SPY) : Relative sector strength in recent trade has been noted in Casino (BJK, LVS), REITs IYR, Oil Service OIH, Finance XLF.

2:37PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled down 77 cents to $84.81, natural gas gained 2.3 cents to close at $3.933, heating oil finished higher by 5.52 cents to $2.751 while RBOB gasoline ended up 5.19 cents to $2.5171 (all March contracts).

2:13PM Crude breaks below $85 to notch lows at $84.82, with ~15 min left in pit trade; now off 66 cents to $84.91 (COMDX) :

2:05PM Kandi Technologies retains Lambert, Edwards & Associates as investor relations advisor (KNDI) 4.01 -0.04 : LE&A will assist the Company in communicating its corporate strategy to shareholders, the investment community and media.

2:05PM Zygo announced that its Optical Systems Division has been awarded a $3.0 mln continuation order for meter class Laser Fusion Amplifiers (ZIGO) 12.75 -0.09 :

1:53PM COMEX Metals Closing Prices (COMDX) : April gold ended higher by $4.70 to $1365.10, March silver gained 53.9 cents to finish at $30.534, while March copper rallied for 9.25 cents to close at $4.6285.

1:27PM Chevron announces there has been an adverse judgment from the Provincial Court of Justice of Sucumbios in Lago Agrio, Ecuador in an environmental lawsuit involving Texaco Petroleum Co (CVX) 96.98 +1.25 : Co stated, "The Ecuadorian court's judgment is illegitimate and unenforceable. It is the product of fraud and is contrary to the legitimate scientific evidence. Chevron will appeal this decision in Ecuador and intends to see that justice prevails. United States and international tribunals already have taken steps to bar enforcement of the Ecuadorian ruling. Chevron does not believe that today's judgment is enforceable in any court that observes the rule of law. Chevron intends to see that the perpetrators of this fraud are held accountable for their misconduct."

1:17PM Cotton futures see notable sell-off following the USDA report (see 12:49, 13:06 and 13:13 comment); cotton futures are currently -2.4% at $1.8534/lb (BAL) 94.13 -2.08 :

1:16PM AgFeed Industries elected John Stadler as its Chairman and appointed him interim President and CEO (FEED) 2.39 -0.01 : In addition, AgFeed announced that Edward Pazdro has been made the permanent Chief Financial Officer of the Company. Pazdro had been appointed acting Chief Financial Officer in November of 2010.

1:13PM Additional color on USDA Ag Baseline Projections Report (see 12:49 comment), positive for ag processors, irrigation, fertilizer and seed stocks (COMDX) : As we noted in our initial comment, the USDA is projecting 2011 planting expectation as follows versus 2010 (Corn est 92 mln vs 88.2, wheat 55.5 mln vs 53.6, soybeans 78 mln vs 77.4 mln, cotton 12.8 mln vs 10.97 mln).

This is a slight negative for corn futures and wheat futures, while positive for soybeans futures. However, this is positive for ag stocks including the ag processors (ANDE +4.2%, ADM +0.9%), irrigation (LNN +3.5%), fertilizer names (IPI +2.2%, BG +1.5%, POT +1.2%, AGU +1.0%, CF +0.9%, MOS +0.3%) seed stocks (SYT +0.3%, MON +0.1%).

The move to 92 mln acres, we suspect is largely due to the current rotation cycle and the corn/soybeans ratio. Many U.S. farmers are in the position to plant corn for a second year to add to total corn acres planted. As mentioned in our preview, the soybeans/corn ratio is around 2.0x, which favors planting more corn.

In short, corn, compared to wheat and soybeans, have strong fundamentals. While all three have seen ending inventory level expectations decline in recent months, many commodities have risen largely due to supply shortages. Corn has a combination of strong demand (e.g., large ethanol demand component) and serious supply issues (ending stocks (inventory) expectations just hit levels not seen since the 1995/96 crop year.

1:09PM Sunesis Pharma announces 1-for-6 reverse stock split (SNSS) 0.42 0.00 :

1:06PM Ag commodities begin to sell-off in a delayed reaction to the USDA Baseline Projections report; corn -6 cents at $7.005/bu, wheat -15.75 cents at $8.7275/bu and soybeans -6 cents at $14.10/bu (COMDX) : Related ag ETFs move lower as a result, including JJA, JJG and DBA.

12:49PM USDA Releases Ag Baseline Projections Report early; Shows 2011 planting expectation as follows versus 2010 (Corn est 92 mln vs 88.2, wheat 55.5 mln vs 53.6, soybeans 78 mln vs 77.4 mln, cotton 12.8 mln vs 10.97 mln) (COMDX) : Report is positive for fertilizer and seed stocks including POT, MOS, IPI, AGU, CF and MON, although the stocks are seeing no real reaction.

12:38PM WPCS Intl receives ~$10.8 million in new projects (WPCS) 2.69 -0.01 : The new contracts include projects to be completed for Oakland International Airport, Abbott Labs, Princeton Plasma Physics Laboratory, Siemens, Merritt College, Washington Elementary School, Roosevelt Elementary School, Glastonbury Police Department, Rocky Hill Voluntary Ambulance Association, Resorts Casino Hotel, JCPenney and City of Charleston Police Department. In addition, co was awarded new international projects for the China National Petroleum Corporation and the Taian Gas Group in China and Mount Morgan Hospital, Dalby Hospital and Rochedale Estates in Australia.

12:36PM Citrix Systems breaks above its Dec peak of 71.57 and sets new session high of 71.77 (CTXS) 71.72 +1.91 : Note that its Sep peak/multi-year high is modestly above at 71.93.

12:29PM St. Joe Company confirms statement regarding resignation of Fairholme representatives from Board (JOE) 25.90 -0.80 : Co states "Fairholme's statements and actions surrounding the resignation of its representatives from the Board of The St. Joe Company, after having served for only six weeks and while the St. Joe Governance and Nominating Committee was reviewing their proposed nominees, are not in the best interest of all St. Joe shareholders. While on the Board, Fairholme's representatives had advised the Company that they substantially agreed with the business plan and approved the exploration of strategic alternatives. The St. Joe Board has always been committed to strong corporate governance, to protecting shareholders' interests and to creating superior results for the long-term. On February 8, 2011 we announced that our Board has retained Morgan Stanley & Co. Incorporated to serve as financial advisor as we explore a wide range of options to enhance shareholder value. While there can be no assurance that any changes or transaction will result from this process, we believe it is an important step for the Company."

12:27PM Additional upticks off morning lows with the S&P +1.8 and Nasdaq Comp +8 setting new session highs -- Dow -8 (SPY) :

12:01PM PF Chang's appoints F. Lane Cardwell as President, effective 3/1 (PFCB) 48.12 -0.20 :

11:55AM AerCap's subsidiary, AeroTurbine, signs a three year exclusive agreement with Webjet Linhas Aereas S.A to provide engine management services (AER) 15.18 +0.37 :

11:46AM Emergency Medical Services provides additional transaction details on acqusition (EMS) 62.91 -7.75 : Co earlier today issued a press release announcing that it has signed a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC. This release referred to a $3.2 billion transaction value. This value comprises an equity purchase price of $64.00 per share with ~45.5 million net diluted shares and LP Exchangeable Units outstanding. The transaction value also includes net debt and estimated transaction costs of ~$300 million.

11:22AM streetTRACKS Gold Shares sets new session high of 133.38 (GLD) 133.26 +0.94 : Recent push leaves it slightly under last week's high and its week long range top is at 133.50. Note that its 50 sma comes into play thereafter at 133.93 -- FCX, AEM, ABX, GG, NEM, AU, HMY, IAG, KGC, GFI.

11:18AM Energy Select Sector back hovering near session high of 75.20 and its multi-year high from last week is at 75.22 (XLE) 75.15 +1.03 : CVX, COP, DVN, XOM, MRO, OXY, SLB, APA, APC.

11:11AM Technology Research announces resignation of Chief Executive Officer (TRCI) 5.16 -0.10 : Co announces that Owen Farren resigned his positions as Chairman of the Board, Chief Executive Officer and President of the Company to pursue other interests. Ray Malpocher, the Company's Lead Director, will oversee the daily management of the Company until a successor Chief Executive Officer of the Company has been appointed and qualified. The Nominating and Governance Committee of the Board will initiate a search for a replacement Chief Executive Officer immediately.

11:10AM Some intraday relative weakness in Airline -XAL- in recent trade (TECHX) : DAL -1.2%, UAL -1.7%, AMR -1.1%, LUV -0.9%, LCC -1.8%, SKYW -1.8%, JBLU -1.3%, RYAAY +0.1%, TAM -0.4%.

11:08AM Merck confirms that it has won the first FOSAMAX (alendronate sodium) state court trial (MRK) 32.83 -0.24 : Co announces that a state court jury in New Jersey found in its favor in the Rosenberg v. Merck case, rejecting the claims of a woman who blamed her dental and jaw related problems on her FOSAMAX use.

11:01AM Tech Data partners with BeyondTrust Partners to Distribute the PowerBroker Suite in the U.S. (TECD) 50.13 +0.20 :

11:01AM 3M's Infection Prevention Division and Sage Products enter into an agreement which includes sales representation of Sage Products by 3M in select international locations (MMM) 91.83 +0.03 :

10:47AM Some intraday weakness developing as Dow -32 and S&P -1.5 set minor new lows -- Nasdaq +3.1 (SPY) : The Nasdaq Comp and then S&P were able to set new multi-year highs after the weaker start today but the Dow did not confirm the move suggesting some thinning leadership. Components weighing on the Dow include: VZ -1.4%, WMT -1.2%, MRK -0.9%, HPQ -0.9%, T -0.9%, AXP -0.8%, DIS -0.7%.

10:37AM S&P +0.8 sets fractional new multi-year intraday high of 1330.93 (SPY) : Short term Fib extension targets, its Aug-Nov trendline and 100% gain level off the 2009 low (666) come into play at 1330/1332. If you want to be more precise the 2009 low was 666.79 with a 100% gain at 1333.58. For this morning watching initial support at 1328/1327 for a read on the underlying strength of today's intraday recovery and the very short term bias. A secondary zone at 1325/1323

10:33AM Manulife Financial acquires Optique Capital Management; Optique's mutual fund and separate account assets under management were ~$800 mln (MFC) 18.41 +0.21=4 :

10:29AM Cantel Medical acquires the sterilization monitoring business of ConFirm Monitoring Systems for $7.5 mln and contingent consideration of up to an additional $1 mln (CMN) 21.94 -0.11 : The purchase price is comprised of $7.5 million in cash at closing and contingent consideration of up to an additional $1.0 million based on achievement of specified sales levels through January 31, 2012. The transaction is expected to be slightly accretive to co's earnings per share in the first full fiscal year.

10:27AM Crude oil ticks to fresh highs; now up 77 cents to $86.35 (COMDX) :

10:22AM S&P +1.5 and Dow -13 notch new intraday bounce highs (SPY) : Tuesday through Friday the market opened weaker but found its footing over the first hour. Minor weakness was noted again off the open but the indices have recent push to new intraday rebound highs. The outperforming Nasdaq Comp +8.2 has set a new session/multi-year high.

10:17AM Mechel Steel announces the re-launching of the Nerungrinskaya washing plant at Yakutugol OAO, following the accident on December 26 (MTL) 32.31 +0.45 :

10:16AM Silver to fresh highs at $30.58; now up 55 cents to $30.545 (COMDX) :

10:16AM CDC Corp provides estimate of its 3.75 percent senior exchangeable convertible notes due 2011 at $0.82 per $1.00 of par value (CHINA) 3.17 +0.04 : Co believes that the fair value measurement of the Notes, as of Dec. 31, 2010, was ~$0.82 per $1.00 of par value. Under generally accepted accounting principles, the Company is required to disclose the fair value of its financial instruments, both assets and liabilities, including the Notes. SFAS 157 provides guidance on how companies should establish the fair value of their assets and liabilities.

10:15AM Apricus Biosciences and Neopharm Group sign licensing agreement for Vitaros in Israel for up to $4.35 million, plus royalties (APRI) 4.27 +0.19 : Co announces that it has entered into a licensing agreement granting Neopharm Group the exclusive rights to market and sell Vitaros, co's treatment for erectile dysfunction and, when and if available, its formulation for the treatment of premature ejaculation, in Israel and the Palestinian Territories of the Gaza Strip and the West Bank. Under the terms of the licensing agreement, Neopharm has been granted exclusive rights in Israel and the Palestinian Territories to commercialize and market Vitaros under the Vitaros trademark for ED and, when and if available, co's formulation for PE. In return, co is entitled to receive up to a total of $4.35 million in up-front, regulatory and sales milestone payments for the products. Further, over the life of the agreement, co will receive tiered, double-digit royalties based on Neopharm's sales of the products.

10:06AM Dollar Index slipping back off session high after testing 50 day ema at 78.81 -- session high 78.87 (TECHX) : Relative sector strength was noted early in the Energy (XLE/OIH) and have seen a push to fresh session high in recent trade as the Dollar has dipped. Also displaying relative strength are the Commodity Index , Solar TAN, Cola KOL, Steel SLX, Ag/Chem MOO, Materials XLB.

10:01AM Gray Television signs a multi-year video extension with Gray Television (GTN) 2.16 +0.05 :

9:59AM Virtusa announces the development of a Web portal and supporting middleware service integration platform for Sri Lanka's Information and Communication Technology Agency as part of the gov's eSriLanka initiative (VRTU) 17.09 +0.08 :

9:59AM Hertz Global's online car sales program, has partnered with Dealix allowing customers to search for Hertz Rent2Buy vehicles through their website (HTZ) 16.56 +0.15 :

9:52AM Viacom announces a cash tender offer for up to $500 million of its outstanding 6.25% senior notes due 2016 (VIA) 51.02 -0.52 :

9:51AM Thoratec rebounds near Friday's high after weaker start (THOR) 27.04 +0.01 : Intraday recovery leaves it back in the vicinity of its Feb recovery high at 27.14 with its 50 sma/ema following at (27.20/27.32).

9:50AM Gold and silver continue to push higher, with both metals trading to fresh highs (COMDX) :

* Gold now up $5.40 to $1365.80
* Silver higher by 41.5 cents to $30.41

9:47AM Opening Point Gainers/Losers (TECHX) : Point Gainers: WLT (+5.82), NFLX (+6.63), AGQ (+4.68), AAWW (+4.85), POT (+3.56), CLF (+3.08), OIH (+2.67), DBD (+2.92), TM (+2.42), CRM (+2.22), REGN (+1.89), AAPL (+1.99)

Point Losers: EMS (-7.69), HAWK (-4.25), CTRP (-3.08), HUGH (-2.59), VSAT (-2.11), ENOC (-1.80), BUD (-1.42), PRU (-1.18), AXTI (-1.12), MMI (-1.12)

9:45AM Sector Relative Weakness (TECHX) : Sectors that have been a drag on the early action on a relative basis (underperforming the S&P) include: Housing XHB, Reg Bank KRE, Finance XLF, Retail XRT, Discretionary XLY, Utility UTIL, Casino (MCRI -4.4%, MGM -3.3%), REITs IYR,

9:42AM Geoglobal Resources principal shareholder announces stock disposition transactions (GGR) 0.70 +0.04 : Co announced a decision by Jean Paul Roy, the principal shareholder and a Director of the Company, to engage in three transactions that will reduce his holdings of GeoGlobal stock. Specifically, Roy informed the Company that he (directly and indirectly) intends to gift ~13.5 million shares of GeoGlobal common stock to family members and friends, has agreed to sell 3.0 million shares of GeoGlobal common stock to PetroCarribean Resources as part consideration for 25 percent of PCR's outstanding common shares and intends to sell an additional 2.5 million shares of GeoGlobal common stock in private sales transactions or over the NYSE/Amex to cover his expenses over the next 12 months.

9:40AM Mixed early action as Dow -20 and S&P +0.2 lag while the Nasdaq Comp +3 edges above Friday's multi-year peak (SPY) :

9:38AM iShares DJ Transports ETF tests its Jan/multi-year high at 94.89 -- session high 94.88 (IYT) 94.87 +0.19 : CHRW, CSX, FDX, GMT, JBHT, LSTR, NSC, UNP, UPS. A similar level for the Dow Transports Index is at 5256.80 (session high 5245.01).

9:33AM BMB Munai agrees to sell its operating subsidiary, Emir Oil for $170 mln (KAZ) 1.06 : Co announces it has entered into a definitive purchase agreement to sell all of its interest in its wholly-owned operating subsidiary, Emir Oil to a subsidiary of MIE Holdings. The initial purchase price is $170 mln, which is subject to various closing adjustments and the deposit of $36 mln in escrow to be held for a period of twelve months. In connection with the purchase, all notes and sums owed by Emir Oil to the Company will be transferred to the purchaser. Upon consummation of the sale, the co will use a portion of the proceeds to repay the Company's outstanding $60 mln convertible senior notes. The co intends to make an initial cash distribution to stockholders in the estimated range of $1.04-1.10 per share upon the closing from the transaction proceeds.

9:27AM Terremark Worldwide commences consent solicitation relating to its outstanding 6.625% Senior Convertible Notes due 2013 (TMRK) 18.93 : Co announces that it is soliciting consents from holders of its outstanding 6.625% Senior Convertible Notes due 2013 to approve an amendment to the indenture relating to the Notes that would remove the co's obligation to provide the trustee under the Indenture with copies of certain reports it files with the SEC.

9:26AM First West Virginia Banc declares quarterly cash dividend of $0.19 per share to be paid to its shareholders for the first quarter of 2011. (FWV) 16.50 :

9:21AM Hewlett-Packard to acquire privately held Vertica; no terms were disclosed (HPQ) 48.64 : Co announces it has signed a definitive agreement to acquire Vertica, a privately held, real-time analytics platform co. The acquisition of Vertica will enhance HP capabilities for information optimization, adding sophisticated, real-time business analytics for large and complex sets of data in physical, virtual and cloud environments. Terms of the deal were not disclosed.

9:16AM St. Joe Company: Berkowitz tells CNBC that they could not persuade St Joe board on their plan; says looking at options for their next step (JOE) 26.68 :

9:14AM On The Wires (WIRES) :

* athenahealth (ATHN) announced its EHR service platform, athenaClinicals, has been selected by the West Virginia Regional Health Information Technology Extension Center as a Five Star vendor in its EHR Vendor Recognition Program.
* Oil States International (OIS) announced that its Australian subsidiary, The MAC Services Group, signed a lease agreement with the Department of Regional Development and Lands Western Australia to develop an accommodation village at Gap Ridge, Karratha, which is on the Northwest coast of Western Australia.
* Reis (REIS) announced that it has reached an agreement with FactSet Research Systems (FDS) to distribute the company's popular Reis Observer reports within the FactSet platform. Reis Observers are comprehensive quarterly written analyses of market conditions for all commercial real estate property types in the top fifty U.S. metropolitan areas.
* Chase (JPM) announced a strategic agreement with Mitek Systems (OTC: MITK.OB) to develop a suite of image-capture solutions across multiple smartphone operating systems.
* Domino's Pizza (DPZ) announced that it has refranchised its 26 company-owned stores to a local owner-operator.
* CytRx Corporation (CYTR) announced that under terms of a definitive agreement for the acquisition of SynthRx by ADVENTRX Pharmaceuticals (ANX), CytRx will receive shares of ADVENTRX common stock based on CytRx's 19.1% ownership of SynthRx. CytRx initially will receive ~191,000 shares of common stock of ADVENTRX, and if all milestones under this agreement are achieved, CytRx would receive up to 2.9 million additional shares, in the aggregate representing an ~7.8% ownership stake in ADVENTRX.
* Rubicon Minerals (RBY) announced as a result of a review by the British Columbia Securities Commission of the Company's recently filed NI 43-101 technical report containing its Phoenix Gold Project mineral resource and geological potential estimates for the F2 Gold System, the co expects to file an amended technical report for the Project.
* AeroVironment (AVAV) announced that it has begun shipping and installing its UL-listed single-family and multi-unit residential Smart Charging Dock.

9:14AM Natural gas spikes back to flat line; now off 0.2 cents to $3.908 (COMDX) :

9:11AM Compass Minerals Intl increases co's quarterly dividend by 15% to $0.45 per share effective with its dividend payable March 15, 2011 (CMP) 94.82 :

9:10AM Magellan Midstream acquires full interest in Cushing Storage joint venture (MMP) 57.00 : Co announces that it has acquired the remaining interest in a joint venture for the construction of 4.25 million barrels of crude oil storage in Cushing, Oklahoma from the private investors who had been partial owners. As a result, Magellan is increasing its 2011 expansion capital spending estimate to $215 million from its previous estimate of $170 million for the acquisition cost and the partnership now funding the full project.

9:08AM Swisher Hygiene to acquire Choice Environmental Services; co will issue 9.2 mln shares of its common stock at the agreed upon value of US$50.1 mln (SWSH) 6.01 : In the transaction, co will issue 9.2 million shares of its common stock to the former shareholders of Choice Environmental at the agreed upon value of US$50.1 million. Swisher Hygiene will also assume ~US$41.5 million in debt, and expects to pay down a majority of this debt with proceeds from its previously announced subscription receipts offering.

9:06AM Barnes & Noble issues open letter to Amazon (AMZN) affiliates (BKS) 18.50 : "We understand that Amazon.com has threatened to terminate its affiliate program in certain states that may enact e-fairness legislation that requires Amazon to collect sales tax due on purchases by residents in those states. Barnes & Noble is disappointed to hear that Amazon would threaten small businesses' livelihood rather than comply with state law... Barns & Noble wants Amazon.com affiliates who have been terminated to know that you are welcome to join the Barnes & Noble affiliate family. If Amazon doesn't want you, we do!..."

9:05AM Symmetricom acquire certain assets of Brilliant Telecommunications, including all of its intellectual property, for a cash purchase price of $3.5 mln (SYMM) 5.71 : Co announces that it has entered into an agreement to acquire certain assets of Brilliant Telecommunications, Inc. including all of its intellectual property, for a cash purchase price of $3.5M. Symmetricom will pay an additional $2.3M in cash if certain milestones are achieved within six months of closing.

9:04AM Antares Pharma announced the receipt from the FDA of a waiver, for the $1.5 mln NDA filing fee for Anturol Gel for overactive bladder (AIS) 1.80 :

9:02AM Enbridge Energy pipeline expansion secures 100,000 bpd capacity commitments (EEP) 63.48 : Co and Enbridge Income Fund Holdings announced that additional shippers have finalized capacity commitments to the Bakken Expansion Program under the terms of the open season process. The expansion program is being undertaken on the Enbridge North Dakota System owned by EEP, and the Enbridge Saskatchewan System, owned by the Enbridge Income Fund. The total cost of the program is expected to be $560 million. The added capacity from this expansion will be 145,000 bpd, of which 25,000 bpd will be available by early 2011 following completion of the Portal Reversal Expansion Project, and the remaining 120,000 bpd by late 2012. Under the applicable regulatory arrangements a maximum of 115,000 bpd can be held by committed shippers and at least 30,000 bpd must be reserved for uncommitted volumes.

9:02AM Computer Sciences signs a new IT outsourcing agreement with SELEX Galile; estimated value of the agreement is ~$200M (CSC) 47.93 :

9:01AM Sunstone Hotel announced that John Arabia has been appointed as CFO and Executive VP of Corporate Strategy effective April 4, 2011 (SHO) 10.60 :

9:01AM AML Communications to be acquired by Anaren (ANEN) for $2.15 per share in cash; expected to be accretive to ANEN with in first year (AMLJ) 2.20 : Co announces the signing of a definitive merger agreement whereby Anaren, through a subsidiary, has agreed to acquire all of co's outstanding shares of common stock for $2.15 per share in an all-cash transaction, representing an equity value of ~$29.3 mln, and an enterprise value of ~$22.6 mln. ANEN anticipates that the acquisition will be accretive within the first year of the transaction's completion.

8:53AM On The Wires (WIRES) :

* Mediacom Communications Corporation (MCCC) announced that on February 10, 2011 Institutional Shareholder Services issued a report recommending that MCCC stockholders vote "FOR" the proposal to adopt the merger agreement with an entity created by Mediacom's founder, Chairman and Chief Executive Officer, Rocco B. Commisso, at the upcoming Special Meeting of Stockholders to be held on March 4, 2011.
* Casablanca Capital announced that it has notified Mentor Graphics Corporation (MENT) of its intention to nominate a slate of three individuals with finance, investment and technology experience for election to Mentor's Board of Directors at the Company's 2011 Annual Meeting of Shareholders to be held on May 12, 2011.

8:52AM Crude oil has bounced ~40 cents to trade back to near unchanged; now off 2 cents to $85.56 (COMDX) :

8:49AM Evergreen Solar reports expiration and results of exchange offers and consent solicitation (ESLR) 2.20 : Co provides results for exchange offers. Exchange Offer for Existing 4% Notes: U.S. Bank National Association advised the co that as of the expiration date, holders of ~$45.4 mln aggregate principal amount of the existing 4% notes had tendered, and not withdrawn, existing 4% notes for exchange. Exchange Offer for Existing 13% Notes and Consent Solicitation: Less than $50 mln aggregate principal amount of existing 13% notes were tendered in this exchange offer. Because the minimum tender and consent conditions were not met, the co will not accept any existing 13% notes for exchange and will not amend the indenture governing the existing 13% notes. These expired at 5pm NY time Feb 11, 2011.

8:48AM Charles Schwab reports monthly activity highlights for Jan 2011: net new assets totaled $6.4 bln, up 13.8% YoY; client daily average trades were 511.8K, up 10% YoY (SCHW) 19.25 :

8:47AM Uranium Energy advances radioactive material license, the final state authorization, for the Goliad Project (UEC) 6.18 : Co announces that it has filed a response to a request for additional information by the Texas Commission on Environmental Quality regarding the Company's Radioactive Material License Application for the Goliad in-situ recovery project in South Texas.

8:46AM BioTime announces agreement to acquire Glycosan BioSystems for ~332,906 BTX common shares, and warrants to purchase ~206,612 additional BTX common shares at an exercise price of $10 per share (BTX) 7.62 :

8:43AM Minefinders reports additional 2010 drill results from the Dolores Mine and La Virginia project; drilling continues to confirm potential to increase the size of the open pit (MFN) 10.32 : "Drilling at Dolores continues to confirm potential to increase the size of the open pit, particularly to the south, and also significant underground mineralization. Step-out drilling at our recent La Virginia discovery continues to intersect high-grade gold and silver and we will work toward establishing an initial resource at La Virginia."

8:39AM On The Wires (WIRES) :

* TechPrecision Corporation (TPCS) announced that it has received a new medical purchase order valued at ~$450,000. The order, from an existing customer, is to machine and fabricate key components and is expected to ship by the end of Q3 quarter of 2011.
* CSC (CSC) announced it has signed a five-year information technology contract to develop and implement an electronic health information system for the Australian Defence Force known as the Joint eHealth Data and Information system.
* FuelCell Energy (FCEL) announced the sale of a 300 kilowatt DFC300 to be installed at the Quadrant 3 re-development project on Regent Street in central London, England.
* Ball (BLL) announced that Latapack-Ball Embalagens, the co's majority-owned beverage can joint venture in Brazil, plans to build a new beverage can manufacturing plant in Alagoinhas, in the Brazilian state of Bahia. The plant will initially operate one manufacturing line with the capability to make multiple aluminum can sizes, and is expected to start up in early 2012.

8:35AM Neoprobe Corporation announced that a multi-center Phase 3 study of Lymphoseek has enrolled clinical subjects to achieve the minimum analysis goal of 196 lymph nodes, the study's primary accrual objective (NEOP) 3.20 : Co announces that a multi-center Phase 3 study of Lymphoseek(R) has enrolled clinical subjects to achieve the minimum analysis goal of 196 lymph nodes, the study's primary accrual objective. An earlier Phase 3 multi-center study (NEO3-05) of Lymphoseek was conducted in subjects with breast cancer or melanoma. In the NEO3-05 study an overall localization rate of over 97% in lymph nodes was achieved in those patients where both a vital blue dye and Lymphoseek were used.

8:35AM Todd Shipyards: Vigor Industrial Announces 88% Tender in Offer for Shares of co; tender offer expires (TOD) 22.22 : Co announced that the tender offer by Vigor's wholly owned subsidiary, Nautical Miles, Inc. for all of the outstanding shares of common stock of Todd at a price of $22.27 per share net to the holder in cash, without interest and less any required withholding and transfer taxes, expired at 12:00 midnight, New York City time, on Friday, February 11, 2011. The tender offer was initiated pursuant to an offer to purchase and related letter of transmittal, each dated December 30, 2010, and a merger agreement dated December 22, 2010 among Todd, Vigor, and Purchaser. American Stock Transfer & Trust Company, LLC, the depositary for the offer, has indicated that, as of the February 11th expiration date, approximately 5,121,073 shares of common stock of Todd had been validly tendered and not withdrawn pursuant to the offer, representing approximately 88.4% of the outstanding shares. This satisfies the minimum tender condition of the Merger Agreement which required the tender of approximately 67% of the outstanding shares as a condition to the closing of the offer. Vigor intends to consummate the closing of the tender offer, top-up option and short-form merger on February 15, 2011.

8:35AM Honeywell commenced a cash tender offer for any and all of its $400 million aggregate principal amount of 5.625% notes due 2012 (HON) 57.98 :

8:34AM Datawatch announces that Michael Morrison has joined co as president and CEO (DWCH) 3.51 : Co announces that Michael Morrison has joined the company as president and chief executive officer. Morrison replaces Ken Bero, who has served as Datawatch's chief executive officer since January 2008.

8:33AM Ixys authorizes a stock repurchase program of up to 1 mln shares of its common stock (IXYS) 11.44 :

8:31AM The Medicines Co and WilmerHale Law Firm reach settlement agreement; co will receive ~$18 mln (MDCO) 14.99 : Co announces a settlement agreement with the law firm WilmerHale resolving all of The Medicines Company's potential claims against WilmerHale related to the principal U.S. patent covering the product Angiomax, U.S. Patent No. 5,196,404. Under the settlement agreement, MDCO will receive approximately $18 million up front from WilmerHale's professional liability insurers to cover certain past expenses. An additional $214 million will be available for damages in the event a generic bivalirudin is sold in the United States before June 15, 2015 as a result of the extension of the '404 patent being held invalid on the basis that the application for the extension was not timely filed.

8:30AM Ecopetrol increases stake in exploration of Cano Sur Block (EC) 41.26 : Co announces that it and and Shell Exploration and Production Colombia Cano Sur GmbH, a unit of of Royal Dutch Shell (RDS.A) have reached an agreement whereby co will assume all of the stake that Shell previously held in the exploration of Cano Sur block, located in the Llanos Orientales basin. Co will retain a 100% stake in the block and continue as operator to carry out anticipated investment programs associated with it.

8:28AM Silver jumps ~10 cents following the open of pit trade to its best levels of the morning; now up $0.215 to $30.21 (COMDX) :

8:16AM PerkinElmer acquires chemagen Biopolymer-Technologie AG (PKI) 27.03 : Co announces that it has acquired chemagen Biopolymer-Technologie AG, a key player in the field of automated nucleic acid isolation, as part of the co's strategy to advance its offerings to the molecular diagnostics and research markets. No financial terms were disclosed.

8:16AM On The Wires (WIRES) :

* Wave Systems Corp. (WAVX) announced that the South Carolina Department of Revenue has chosen Wave's EMBASSY software to manage data security for its fleet of laptops.
* Foster Wheeler AG (FWLT) announced that its Global Engineering and Construction Group has been awarded an engineering design contract for a copper concentrator plant in Chile for the Chilean Copper Corporation.

8:12AM On The Wires (WIRES) :

* The Shaw Group Inc. (SHAW) announced it has been awarded a contract by Qatar Petrochemical Company to provide basic engineering services for the expansion of a 720 KTA ethylene plant in Mesaieed, Qatar.
* Quest Software (QSFT) announced that it has acquired the assets of e-DMZ Security, LLC, a privately held company specializing in privileged access control and privileged identity management products.
* RADVISION (RVSN) announced that Virtual Netcomm Pvt. Ltd. will distribute RADVISION's SCOPIA line of innovative video conferencing solutions throughout India.
* ManTech International Corporation (MANT) announced the company has acquired TranTech Inc., an Alexandria, Va.-based provider of information technology, networking and cyber security services to the federal government. Terms of the acquisition were not disclosed.
* AsiaInfo-Linkage (ASIA) announced that it has signed Next Generation BOSS 3.0 system upgrade contracts with Shanghai Mobile, Zhejiang Mobile, Henan Mobile, Liaoning Mobile and Guizhou Mobile, all subsidiaries of China Mobile (CHL).
* OXiGENE (OXGN) announced that it has entered into a Cooperative Research and Development Agreement with the National Cancer Institute's Cancer Therapy Evaluation Program to collaborate on the conduct of a randomized Phase 2 trial of ZYBRESTAT in combination with bevacizumab in patients with relapsed ovarian cancer.
* Accenture (ACN) and NetApp (NTAP) are expanding their existing relationship with two technology agreements, one for the joint development, marketing, and delivery of a customized set of solutions focused on data center optimization and virtualization, cloud computing, and application optimization; and the second for NetApp's Professional Services organization to expand its implementation capabilities by leveraging a Accenture team providing consulting and integration services.
* Affymetrix (AFFX) launched its Anatrace brand Neopentyl Glycol Class Detergents, the next generation of detergents to significantly advance the study of integral membrane proteins, the most important proteins found in the human genome.
* Telstra partners with Ericsson (ERIC) to launch 4G/LTE in Australia.
* Vringo (VRNG) announced the granting of a non-exclusive world-wide license to ASUSTek Computer. Under the agreement, ASUS will embed Vringo's video ringtone application onto ASUS' Android mobile phone handsets and distribute Vringo's video ringtone application in Singapore, Malaysia and Indonesia.
* Idera Pharmaceuticals (IDRA) announced that it is presenting data on IMO-3100, an antagonist of TLR7 and TLR9, in a preclinical model of lupus showing that treatment with IMO-3100 suppressed several key disease progression parameters.

8:08AM Seabridge Gold hires Jay S. Layman, to the new position of Executive Vice President and Chief Operating Officer effective March 1, 2011 (SA) 30.50 :

8:05AM Avnet names Rick Hamada CEO, effective July 4, 2011 (AVT) 36.40 : Co announces that the Board of Directors has promoted Rick Hamada to Chief Executive Officer effective July 4, 2011, concurrent with the beginning of Avnet's new fiscal year. Hamada, who currently serves as Avnet's President and Chief Operating Officer, has also been appointed to the Company's Board of Directors, effective immediately.

8:04AM Arbinet-thexchange agrees to sell certain patent assets for $4 mln (ARBX) 9.85 : Co announces that it signed a definitive agre sell its portfolio of patents and patent applications for a purchase $4,000,000 to AIP Acquisition on February 11, 20. Arbinet estimates the net proceeds from the sale of Arbinet's portfolio of patents and patent applications would equal $3,650,000 and the aggregate base merger consideration would be increased by such net proceeds from $28,000,000 to $31,650,000.

8:03AM STEC Inc beats by $0.02, beats on revs; guides Q1 EPS above consensus, revs above consensus (STEC) 23.79 : Reports Q4 (Dec) earnings of $0.35 per share, $0.02 better than the Thomson Reuters consensus of $0.33; revenues fell 11.4% year/year to $93.9 mln vs the $90.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.32-0.34 vs. $0.25 Thomson Reuters consensus; sees Q1 revs of $90-92 vs. $85.57 mln Thomson Reuters consensus.

8:02AM Elec For Imaging announces $30 mln share repurchase program (EFII) 15.05 : Co announced that its Board of Directors has authorized a new share repurchase program of up to $30 mln of its common stock. No amounts remain available under the prior authorizations. The share repurchase program will be funded from existing cash on hand and cash generated from operations. No date was established for the completion of the share repurchase program.

8:01AM Administaff beats by $0.01, reports revs in-line (ASF) 29.67 : Reports Q4 (Dec) earnings of $0.30 per share, $0.01 better than the Thomson Reuters consensus of $0.29; revenues rose 10.0% year/year to $435.5 mln vs the $437.5 mln consensus, due to a 5.8% increase in revenues per worksite employee per month, and a 3.9% increase in the average number of worksite employees paid per month. average gross profit per worksite employee per month increased $51, or 26.7%, to $242 in the fourth quarter of 2010 from $191 in the 2009 period. This was primarily due to the improvement in our benefits cost center. This resulted from the effective implementation of a plan to recover from increased COBRA costs and elevated utilization levels experienced during the fourth quarter of 2009.

8:01AM Magal Security announced three orders totaling $4.1 mln for homeland security projects in Asia and Latin America (MAGS) 2.88 :

8:01AM Varian Medical Board of Directors has authorized co to repurchase an additional 12 mln shares of its common stock through the end of its fiscal year 2012 (VAR) 69.10 : Co announced that its Board of Directors has authorized the company to repurchase an additional 12 million shares of its common stock through the end of its fiscal year 2012. The company's Board of Directors further authorized the company to enter into an accelerated share repurchase program under which the company could repurchase up to $300 million of its common stock.

7:58AM Natural gas trades to fresh lows at $3.86, its lowest levels since mid-Nov; now off 4.7 cents to $3.863 (COMDX) :

7:36AM On The Wires (WIRES) :

* NaviSite, Inc. (NAVI) announced that PROACTIS, a leading provider of spend control and eProcurement solutions, has selected NaviSite's Managed Cloud Services to deliver eProcurement solutions to its North American customers for deployments across the globe.
* Kyocera Industrial Ceramics Corp., a Kyocera Group (KYO) company, unveiled its new Orthopedic Design Center in Somerset, N.J., formed in collaboration with Japan Medical Materials Corporation.
* PROLOR Biotech (PBTH) reported that patient enrollment and dosing in the Phase II trial of its long-acting version of human growth hormome are proceeding according to plan, with study completion targeted for mid-year 2011.

7:31AM Oncolytics Biotech meets primary endpoint for first part of U.S. Phase 2 pancreatic cancer clinical trial (ONCY) 6.18 : Co announced preliminary results from a U.S. Phase 2 clinical trial using intravenous administration of REOLYSIN in combination with gemcitabine in patients with advanced pancreatic cancer. The trial is a single arm, open-label, Phase 2 study of REOLYSIN given intravenously with gemcitabine every three weeks. The study's primary objective is to determine the clinical benefit rate of REOLYSIN in combination with gemcitabine in patients with advanced or metastatic pancreatic adenocarcinoma with measurable disease who have not received any prior chemotherapy or biotherapy. The secondary objectives are to determine progression-free survival, and the safety and tolerability of REOLYSIN when administered in combination with gemcitabine. This endpoint was met after six evaluable patients were enrolled. All patients treated reported symptomatic improvement. Three of six patients showed SD for 12 weeks or greater. Co now intends to complete enrollment in the first stage of the study and then continue with further studies.

7:21AM Rex Energy reports 61% net increase in proved reserves; reports 2010 drill bit F&D costs of $.68/MCFE (REXX) 11.37 : Co reports year end 2010 proved oil and gas reserves of 201.7 Bcfe, an increase of 61% YoY. Of the 201.7 Bcfe proved reserves, 63% was attributable to natural gas and 37% to oil, condensate and natural gas liquids. The proved developed portion of year-end 2010 reserves was 43% of total proved reserves. Co successfully replaced 1,560% of its estimated 2010 production of 7,310 MMcfe, which equates to a reserves to production ratio of ~27.6 years.

7:19AM On The Wires (WIRES) :

* Descartes Systems Group (DSGX) announced that Panalpina Group has expanded its relationship with Descartes by selecting Descartes' Cargo 2000 solution to help it comply with business process and automation standards established by the International Air Transport Association.
* VSE Corporation (VSEC), in conjunction with Manheim Corporation, will conduct a Public Auction of seized and forfeited luxury vehicles formerly owned by Byron Keith Brown of Vienna, VA and Ellicott City, MD. The auction will be conducted on behalf of the U.S. Department of the Treasury.
* HealthWarehouse.com and Huntington Insurance, a wholly-owned subsidiary of Huntington Bancshares (HBAN) announced a partnership that will give customers across the Midwest access to low-cost generic prescription medication.
* On Track Innovations (OTIV) has received initial orders for its recently announced contactless mobile payment product.
* Cricket Communications, a unit of Leap Wireless International (LEAP) announced the availability of Muve Music in 13 additional markets across the country.
* Delta Air Lines (DAL) announced it will pay out $313 mln in profit sharing.

7:07AM Transglobe Energy announces 2010 year-end reserves total proved reserves increased 6% to 20.5 MMBbl, up from 19.2 MMBbl yr ago (TGA) 15.45 : Total proved reserves increased 6 percent to 20.5 MMBbl at December 31, 2010 from 19.2 MMBbl at December 31, 2009. This increase in proved reserves represents a production replacement in 2010 of 133%. Co produced 3.6 MMBbl of reserves during 2010. 2P reserves grew 26% to 30.4 MMBbl at December 31, 2010 from 24.2 MMBbl at December 31, 2009. The increase in 2P reserves represents a production replacement in 2010 of 272%. Total 3P reserves grew 37% to 41.9 MMBbl at December 31, 2010 from 30.5 MMBbl at December 31, 2009. The increase in 3P reserves represents a production replacement in 2010 of 412%.

7:05AM KVH Industries misses by $0.03, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY11 revs below consensus (KVHI) 12.55 : Reports Q4 (Dec) earnings of $0.02 per share, $0.03 worse than the Thomson Reuters consensus of $0.05; revenues rose 2.7% year/year to $27 mln vs the $27.3 mln consensus. Co issues downside guidance for Q1, sees EPS of ($.05)-(0.10) vs. $0.13 Thomson Reuters consensus; sees Q1 revs of -5-10% YoY to $25.2-26.6 mln vs. $32.11 mln Thomson Reuters consensus. Co issues downside guidance for FY11, sees FY11 revs of +15-20% to ~$129.1-134.7 mln vs. $137.73 mln Thomson Reuters consensus. "However, we do anticipate challenges in the first quarter. Among these are the continued slow pace of FOG sales for remote weapon stations during the CROWS II to CROWS III transition period, a delay in resumption of LiveTV shipments until the second half of 2011, and the full cost impact of the mini-VSAT Broadband network buildout, including Brazil and some additional capacity for the continental U.S... We are on a solid path of executing our strategic plans to expand our VSAT, marine satellite TV, and FOG businesses. These efforts form the basis for building toward progressively stronger financial results with four- to five-year targets of annual revenue greater than $300 million, more than half of which would be generated by our VSAT business, along with operating margins of 15%."

7:04AM Rand Logistics acquires two self-unloading integrated tug/barge units from KK Integrated Shipping; expected to result in an additional $0.25-0.30 in free cash flow per common share for FY ending March 31, 2012 (RLOG) 5.29 : Co announces it has acquired two Jones Act compliant, self-unloading integrated tug/barge units from KK Integrated Shipping. The acquisition was structured with $35.5 mln cash paid at closing (including $31.0 mln financed with third party debt), $5.1 mln of attractively priced junior seller paper and 1,305,963 shares of the co's common stock. Co anticipates that the acquisition will be accretive to free cash flow per common share by $0.25-0.30 in fiscal year ending March 31, 2012.

7:03AM Emergency Medical Services to be acquired for $64.00 in cash per share by Clayton, Dubilier & Rice (EMS) 70.66 : Co and Clayton, Dubilier & Rice, LLC (CD&R) announce a definitive merger agreement under which an affiliate of CD&R formed to complete the merger will acquire co. Under the terms of the agreement EMS stockholders would receive, at the closing of the transaction, $64.00 in cash for each share of EMS Class A common stock and Class B common stock and each LP Exchangeable Unit. Co's board unanimously approved the terms of the definitive merger agreement and has recommended that stockholders approve the transaction. Onex Corporation and its affiliates, the holders of co's LP Exchangeable Units, have sufficient voting power to approve the merger, and have agreed to vote in favor of adoption of the merger agreement.

7:01AM China Sunergy signs 4400 MW long term wafer supply agreement with GCL-Poly (CSUN) 4.45 : Co announced that it has entered into a long-term wafer supply agreement with GCL-Poly Energy Holdings Limited. Under the terms of the agreement, GCL-Poly will supply China Sunergy with an aggregate of approximately 4,400 MW of wafers over six years. Delivery of wafers will commence in February 2011 for completion in December 2016. The agreement also contains a clause for a price adjustment mechanism based on wafer market price.

6:41AM On The Wires (WIRES) :

* AVEO Pharmaceuticals (AVEO) announced that previously reported positive clinical data evaluating tivozanib, its lead product candidate designed to optimally block the VEGF pathway by inhibiting all three VEGF receptors, in patients with renal cell carcinoma will be featured in several poster presentations at the American Society of Clinical Oncology 2011 Genitourinary Cancers Symposium being held February 17-19, 2011 at the Orlando World Center Marriott in Orlando, Fla.
* Medisafe 1 Technologies Corp. (OTCBB: MFTH) was contacted by McKesson Corporation (MCK) for potential cooperation once customer feedback of its device has been received from early pilots in US hospitals.

6:38AM On The Wires (WIRES) :

* Citi (C) announced that its Global Transaction Services business has been appointed by UK retailer Debenhams plc as depositary for its sponsored Level 1 American Depositary Receipt program.
* Eastern Light Capital (ELC) announced that at its Special Shareholder meeting, both the preferred shares and the common shares, voting separately as a class approved the resolution to convert each Series A Preferred Share into 1.25 common shares.
* Icahn Enterprises (IEP) announced that on February 10, 2011, FERC approval for the Icahn tender offer for Dynegy (DYN) shares was received.
* ADVENTRX Pharmaceuticals (ANX) announced that it has entered into a definitive agreement to acquire SynthRx, a private biotechnology company developing a purified form of a rheologic and antithrombotic agent, poloxamer 188.
* Motorola Mobility Holdings (MMI) announced Motorola XOOM 3G/WiFi-enabled version as well as a WiFi-only version will be available in Europe beginning in Q2 2011.
* Adobe (ADBE) announced that by the end of 2011, co expects more than 200 million smartphones and tablets to support Adobe AIR applications.

6:35AM Seadrill considers reorganization of its harsh environment activities (SDRL) 35.84 : Co announces it is currently evaluating the structure of the co's harsh environment activities which include the six drilling rigs contracted in the North Sea area. Co is currently evaluating the existing ownership structure of these activities. One alternative that is under consideration is to organize this segment into a new public co where SDRL will remain the majority shareholder. Co believes this will prepare the ground for further growth and consolidation in this market.

6:31AM Vical's Allovectin-7 phase 3 trial receives positive review from safety monitoring board (VICL) 1.74 : Co announces an independent Safety Monitoring Board for co's Phase 3 trial of Allovectin-7 in patients with metastatic melanoma has completed the trial's fifth scheduled safety analysis and recommended that the trial continue per the protocol. Co estimates that the worldwide market for Allovectin-7 as a treatment for metastatic melanoma could exceed $500 million annually.

6:31AM Acura Pharma NDA accepted for filing with a priority review classification (ACUR) 3.27 : Co announced that it has been informed by King Pharmaceuticals Research and Development that King's New Drug Application for ACUROX. Tablets was accepted for filing by the FDA with a Priority review classification and a PDUFA date of June 17, 2011.

6:10AM Provident Fincl relocates of Its Temecula retail branch; agrees to sell its existing retail branch facility (PROV) 7.96 : Co announces that the Company will relocate its Temecula Retail Branch to a newly leased location at 40705 Winchester Road, Suites A106 and A107, Temecula, California. The relocation is expected to occur in May 2011. Additionally, the Company has agreed to sell its existing branch facility located at 40325 Winchester Road, Temecula, California to an unaffiliated third party. The sale will result in a pre-tax gain on sale of real estate of ~$1.1 million.

6:09AM Pacific Premier repurchases 2 outstanding warrants that were exercisable for an aggregate of 600,000 shares of common stock (PPBI) 6.90 : This represents ~6% of co's common stock. As a result of the repurchase and the cancellation of the warrants, the shares of our common stock which are issuable upon the exercise of outstanding warrants have been reduced from 966,400 shares to 366,400 shares.

6:08AM ArthroCare beats by $0.02, beats on revs (ARTC) 31.15 : Reports Q4 (Dec) earnings of $0.30 per share, $0.02 better than the Thomson Reuters consensus of $0.28; revenues rose 1.9% year/year to $92.6 mln vs the $89.4 mln consensus.

6:02AM Constellation Energy agrees to acquire 7.8 mw solar project from Community Energy (CEG) 31.40 :

6:02AM Hughes Communications acquired by EchoStar (SATS) for $60.70 per share (HUGH) 61.78 : EchoStar (SATS) will acquire HUGH in a deal valued at ~$2 bln, or $60.70 per share. The deal represents a 31% premium to the January 19 closing price of $46.43. Note that HUGH was up 18% on January 21, the day after reports circulated that the co hired an advisor. Deal has been approved by the respective boards but is subject to regulatory review. "With a rich engineering culture, an extensive fleet of owned and leased satellites, and experienced personnel in communications centers around the world, the combination of EchoStar and Hughes will create a powerful leader in video and data transport." Investment funds affiliated with Apollo Management IV, L.P., who own a majority of Hughes' outstanding stock, have approved the transaction by entering into a written shareholder consent.

6:00AM On The Wires (WIRES) :

* Xerox (XRX) introduced the world's first high-speed waterless inkjet system to enable vivid image quality on low-cost paper for printers looking to produce high-volume, high-value jobs.
* Magic Software (MGIC) announced a partnership with CD Group. In its first iBOLT deal, CD Group has sold Magic Software's iBOLT for Oracle JD Edwards to a leading supplier of automotive products and services.
* Juniper Networks (JNPR) announced the integration of its new Juniper Networks vGW Virtual Gateway with the Juniper Networks SRX Series Services Gateways to provide a consistent, virtualization-aware solution for private and public cloud deployments.
* PMC-Sierra (PMCS) announced its Universal Front End 4 silicon that enables OEMs to develop a range of high performance, highly integrated solutions for the growing mobile backhaul market segment.
* Marvell (MRVL) introduced it phone platform based on the Marvell PXA978 communications processor with Marvell HSPA modem.

5:35AM United Comm Banks defers capital purchase program dividend payment (UCBI) 1.89 : Co announces that it will exercise its right to suspend its regularly scheduled quarterly dividend payment of $2.25 mln on its $180 mln Cumulative Perpetual Preferred Stock, Series B that was issued to the U.S. Treasury Department under its Capital Purchase Program.

5:32AM Ness Tech signs $16 mln contract with Ministry of Defense of foreign country (NSTC) 6.39 :

5:25AM On The Wires (WIRES) :

* LogMeIn (LOGM) is extending its focus on supporting mobile consumers and workers, introduced support features due to the rapid rise of Android tablets and smartphones.
* Ceragon Networks (CRNT) announced at Mobile World Congress in Barcelona, the launch of the FibeAir IP-10 E-Series.
* Novatel Wireless (NVTL) announced the next-generation of Enfora's Spider AT asset tag family of products.
* Research In Motion (RIMM) announced plans to launch two additional BlackBerry 4G PlayBook tablets during the second half of 2011, featuring support for LTE and HSPA+ high speed wide area wireless networks. Westinghouse
* Electric Company today announced that it has entered into a long-term agreement with South Carolina Electric & Gas, the principal subsidiary of SCANA (SCG), to provide nuclear fuel fabrication services for the V.C. Summer nuclear power plant in South Carolina. The contract is valued in excess of $400 mln, and includes fuel fabrication services for the existing reactor there, as well as for two new AP1000 nuclear power units currently in the early stages of construction. First delivery is scheduled to occur in 2012, and the contract runs through 2033.
* Acme Packet (APKT) unveiled the Net-Net Policy Director, a policy exchange controller.
* Atmel (ATML) announced it is collaborating with NVIDIA (NVDA) to bring high-performance, multi-touch, large-format touchscreen solutions to market. SanDisk (SNDK)announced that several of the industry's major chipset vendors have selected SanDisk's iNAND embedded storage device for use in their new reference designs, the boards on which next-generation mobile phones and tablets are developed.
* Evergreen Energy (EEE) announced it has re-commenced testing coal upgrades at its Fort Union Test Facility located near Gillette, Wyoming.
* Cimatron (CIMT) announced the partnership with Aditya Infotech to increase CimatronE's reach and coverage in India.

4:08AM On The Wires (WIRES) :

* Lawson Software (LWSN) announced the general availability of Lawson Fashion PLM on the Cloud, which offers fashion companies a lower entry cost to product lifecycle management software.
* Osaka Securities Exchange has successfully launched its new derivatives trading system, J-GATE, compliant with international standards and equipped with new trading functions and the world's highest order processing capacity. The system is powered by NASDAQ OMX trading technology, part of NASDAQ (NDAQ).
* RF Micro Devices (RFMD) announced availability of the Company's RF724x family of HSPA+ power amplifiers.
* Ericsson (ERIC) and Akamai Technologies (AKAM) announce an exclusive strategic alliance focused on bringing to market mobile cloud acceleration solutions aimed at improving end-user Internet experiences such as mobile ecommerce, enterprise applications and Internet content.
* Texas Instruments (TXN) in collaboration with Azcom Technology announced the availability of a new small cell base station platform focused on 3G and 4G high speed data systems.
* VeriFone Systems (PAY) announced a next-generation version of PAYware Mobile Service for global markets. This latest innovation features VeriFone's sleek mobile payment solution and gateway service and brings international payment standards including NFC and EMV smart card, with PCI-compliant PIN keypad for Chip & PIN transactions, to popular smart phones.
* Qualcomm (QCOM) announced its next mobile processor architecture for the Snapdragon family. NETGEAR (NTGR) announced four new products for mobile network operators with four new models all offer either 3G or LTE connection.
* CEVA (CEVA) announced an agreement to undertake joint research into the development of cellular modem technologies targeting next generation wireless baseband standards with NEC CASIO Mobile Communications.

2:54AM On The Wires (WIRES) :

* Boeing (BA) unveiled its new 747-8 Intercontinental, the new high-capacity passenger airplane that offers airlines the lowest operating costs and best economics of any large passenger airplane while providing enhanced environmental performance.
* Procera Networks (PKT) announced the launch of the next generation PL 10000 series at Mobile World Congress in Barcelona. The new PL10000 series ships with flow processing line cards that boost capacity to an impressive 120 Gbps per chassis in actual deployment configuration with traffic classification and policy enforcement capabilities enabled.
* Powerwave Technologies (PWAV) announced the new LTE ultra-broadband Powerwave Picocell, which delivers up to 15 times greater overall system capacity at a much lower cost and complexity than adding standard macro cells to address "sore spots" of high data usage or weak signals in wireless networks.
* Smith Micro Software (SMSI) and PT Bakrie Connectivity announced that the company's industry-leading QuickLink Mobile connection manager will be available to Bakrie Connectivity's subscribers in Asia later this year.
* Moser Baer Clean Energy and First Solar (FSLR) announced that MBCEL will procure 25 megawatts DC of First Solar's advanced thin-film modules for its solar power generation projects. Delivery is expected to take place by June 30, 2011.
* TeleCommunication Systems (TSYS) announced that Iusacell, a leading provider of cellular services, is launching end-to-end TCS Location Based Services in Mexico using Global System for Mobile and High-Speed Downlink Packet Access networks.
* Sierra Wireless (SWIR) introduced two new 4G mobile hotspots to its line of AirCard Mobile Broadband Devices. Bothproducts are scheduled for commercial shipments in the second quarter of this year.
* Broadcom Corporation (BRCM) announced its newest wireless combination chip designed to support more media and data applications without impacting size or battery life for smartphones, tablets and other mobile devices.

2:32AM Tower Semicon reports EPS in-line, revs in-line; guides Q1 revs below consensus (TSEM) 1.41 : Reports Q4 (Dec) earnings of $0.14 per share, in-line with the Thomson Reuters consensus of $0.14; revenues rose 34.3% year/year to $135.1 mln vs the $135 mln consensus. Co issues downside guidance for Q1, sees Q1 revs of $120-125 mln vs. $131.40 mln Thomson Reuters consensus.

2:21AM Cameco reports beats by $0.20; provides 2011 outlook (CCJ) 42.28 : Reports Q4 (Dec) earnings of $0.48, $0.20 better than $0.28 Thomson Reuters consensus; revs increased 2% YoY to $673 mln (no est). Co issues in-line guidance for FY11 (Dec), sees FY11 (Dec) revs of ~+10-15% to 2.34-2.44 bln vs. CDN$2.47 bln Thomson Reuters consensus. Co sees 2011 consolidated Cap ex of ~575 mln.

2:07AM Motorola Mobility acquires Three Laws Mobility; terms not disclosed (MMI) 31.15 : Co announces that it has acquired Three Laws Mobility, a developer of mobile enterprise security software and solutions and mobile device management products for the Android operating system. The agreement was completed in late 2010 and terms of the transaction were not disclosed. The acquisition is expected to enable the commercialization of device management services in the second quarter of 2011.

2:04AM Toreador Royalty agrees interim way forward with French Government in Paris Basin Tight Rock Oil program (TRGL) 12.91 : Co announces that its subsidiary Toreador Energy France and its partner, Hess Oil France SAS met with France's Ministry of Environment and the Ministry of Energy to discuss the government's decision to instruct the General Council of Industry, Energy and Technology and the General Council on the Environment and Sustainable Development to undertake a study to determine the economic, social and environmental impact of both shale oil and shale gas development in France. The Partners will voluntarily delay their Paris Basin tight rock oil 'proof of concept' program until after the interim report is issued (mid-April 2011).

1:59AM On The Wires (WIRES) :

* Mentor Graphics (MENT) announced that MediaTek has adopted the Calibre PERC product as its solution for electrical rule checking to help ensure comprehensive electrostatic discharge protection and increase overall product reliability.
* Mattel (MAT) subsidiary, Fisher-Price and DreamWorks Animation (DWA) announced that they have entered into an exclusive licensing relationship in which Fisher-Price, the world's leading brand of infant and preschool toys, will serve as the worldwide master toy licensee for a number of DWA's theatrical feature film releases and television series.
* Bridgewater Systems announced that Juniper Networks (JNPR) will resell Bridgewater's complete control plane portfolio globally, as an integral component of Juniper's MobileNext, the industry's first open mobile core for 2G/3G and LTE networks. Additionally, Openwave Systems (OPWV) announced that JNPR has selected the co as a strategic partner to integrate its Media Optimizer into JNPR's Media Flow solution for mobile video optimization.
* NVIDIA (NVDA) and Samsung Electronics announced the Galaxy Tab 10.1, a 10.1-inch screen tablet which uses the NVIDIA Tegra 2 mobile super chip to take full advantage of the Android 3.0 user interface.
* Sony Ericsson and Verizon Wireless (VZ) announced that its new Xperia PLAY, the world's first PlayStation Certified smartphone, will be available on the Verizon Wireless Network in the Spring 2011.
* BGC Partners (BGCP) announces its first fully electronic Australian Dollar Interest Rate Swap trade using BGC's award-winning Volume Match tool on the BGC Trader platform.

1:37AM Samson Oil & Gas reports stimulation dates for the Rodney #1-14H and Earl 1-13H wells have been established (SSN) 2.62 : Co advises that firm fracture stimulation dates for the Rodney #1-14H and Earl 1-13H wells have been established. Fracture stimulation operations are expected to commence March 14th for the Rodney well and March 28th for the Earl well. Co had anticipated this to take place in February. These two wells are the latest wells drilled to date in the North Stockyard field. Both wells are expected to commence drilling in 2011.

1:33AM General Electric's Oil and Gas unit acquires the Well Support division of John Wood Group for $2.8 bln (GE) 21.33 : Co announces that its Oil & Gas business has entered into an agreement to acquire the Well Support division of John Wood Group for ~$2.8 bln. In 2010, the Well Support division recorded revenues of $947 mln and EBITDA of $166 mln, which reflected growth of 16% and 55% respectively over 2009.

1:27AM NYSE Euronext and Deutsche Borse AG (DBOEY) refute reports that a name for the holding co has been finalized (NYX) 38.31 :

1:26AM BioSante Pharmaceuticals reports positive LibiGel safety data in Phase III program (BPAX) 2.31 : Co announces positive safety data in its ongoing LibiGel Phase III clinical development program. Co reported that with 2,869 women enrolled and over 3,000 women-years of exposure in its LibiGel Phase III cardiovascular and breast cancer safety study, there have been 17 adjudicated cardiovascular events, with a lower than anticipated event rate of ~0.57%. There have been eight breast cancers reported, a rate of ~0.27%. Therefore, the Phase III LibiGel safety study will continue as per the FDA-agreed protocol, without modifications including continued enrollment of new subjects. Upon completion of the statistical analyses of the safety study and efficacy trials, co intends to submit an NDA to the FDA, requesting approval to market LibiGel for the treatment of HSDD in menopausal women.

1:23AM Seahawk Drilling Hercules Offshore (HERO) Signs Purchase Agreement to Acquire Assets of Seahawk Drilling (HAWK) (HAWK) 7.90 : Co announces that it will file for bankruptcy. In lieu of this event, Hercules Offshore (HERO) announces that it has entered into an Asset Purchase Agreement with Seahawk Drilling (HAWK) and its affiliates to purchase 20 jackup rigs and related assets from co for ~22.3 mln shares of Hercules Offshore common stock and cash consideration of $25 mln, which will be used primarily to pay off co's Debtor-in-Possession loan, which co has secured in connection with its bankruptcy. The amount of HERO common shares issued will be proportionally reduced at closing, based on a fixed price of $3.36 per share, if the outstanding amount of the DIP loan exceeds $25 mln , with the total cash consideration not to exceed $45 mln.

1:18AM Oil-Dri promotes Jeff Libert to CFO (ODC) 20.27 : Co announces that Jeff Libert, Vice President of Finance, has been promoted to CFO. He had previously been VP of Finance with co.

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