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Market Update 110216

4:30 pm : Natural resource plays led the broader market to another session of strong gains. Data had little sway with traders, though.

Buying abroad overnight and this morning helped bring buyers back into action after the prior session's slip. The stock market's ability to bounce right back from that loss was also indicative that a buy-the-dip mentality continues to permeate trade.

Positive responses to the latest quarterly results from Comcast (CMCSA 25.13, +0.97), Dell (DELL 15.56, +1.65), and Deere (DE 95.86, +2.24) also helped perpetuate an upbeat tone.

Other corporate news included word that Genzyme (GENZ 75.10, +0.80) has agreed to be purchased by Sanofi-Aventis (SNY 34.95, +0.46) for $74 per share plus a Contingent Value Right. That announcement overshadowed disappointing results from GENZ.

Shares of discount retailers benefited from a strong bid after Trian Group issued a proposal to acquire Family Dollar (FDO 53.54, +9.58) for a price in the range of $55 to $60 per share in cash. The specified range represents a premium of at least 25% over FDO's prior session closing price.

Energy stocks and materials stocks made up the two strongest performing sectors. They both snapped back from sizable losses in the prior session to record gains of 1.3% and 1.2%, respectively. Both sectors steadily outperformed for virtually all of the session.

At its session high, the S&P 500 was up 0.7%, but some mid-session selling slashed that gain to less than 0.2%. Pressure intensified around the same time that Reuters reported the planned presence of two Iranian warships in the Suez Canal. Concern about potential geopolitical implications of such a move were pushed aside, at least for now, so that stocks could gradually recoup most of their gains and settle at new two-year closing highs.

Market participants had a relatively muted response to minutes from the latest FOMC meeting, even though the record indicated that the Fed has raised its economic forecast and noted that risks to GDP growth have diminished.

As for data, producer prices for January increased by 0.8%, which is slightly greater than the 0.7% increase that had been generally expected among economists surveyed by Brieifng.com. Producer prices had increased 1.1% in the prior month. As for core producer prices, they increased a more tepid 0.5% month over month, but that is still sharper than the 0.2% increase that had been widely expected after a 0.2% increase in the prior month.

Housing starts for January had been expected, on average, among economists polled by Briefing.com to hit an annualized rate of 540,000, but instead they spiked 14.6% month over month to an annualized rate of 596,000. The surge makes for a sharp rebound from the downwardly revised 5.1% decline that was reported for the prior month.

Building permits for January dropped 10.4% from the prior month to an annualized rate of 562,000. After a 15.3% jump in the prior month, January building permits had been widely expected to come in at 575,000.

Industrial production for January was just posted. It fell 0.1%, which contrasts with the Briefing.com consensus call for a 0.6% increase.

Advancing Sectors: Energy (+1.3%), Materials (+1.2%), Consumer Discretionary (+0.8%), Tech (+0.8%), Financial (+0.6%), Health Care (+0.5%), Industrials (+0.4%), Consumer Staples (+0.2%)
Declining Sectors: Telecom (-0.3%), Utilities (-0.3%)DJ30 +61.53 NASDAQ +21.21 NQ100 +0.7% R2K +1.0% SP400 +0.7% SP500 +8.31 NASDAQ Adv/Vol/Dec 1745/2.28 bln/904 NYSE Adv/Vol/Dec 2256/926 mln/745

3:30 pm : Softs lead all commodities today, posting a 2.1% gain. May sugar rallied for 3.6% to finish at $0.2922 per pound, while May orange juice finished higher by 2.9% to $1.7115 per pound.

Late morning headlines that Iran is sending two warships through the Suez Canal and into the Mediterranean Sea, to Syria, sent a jolt through select commodity markets. The news reinforces the current geopolitical tumult going on in the Middle East. March crude oil finished up 0.8% to $84.99 per barrel. While prices initially spiked on the back of this news, they pulled back from session highs throughout the afternoon to end modestly better. It was an uneventful session for March natural gas, which closed off 1.5% to $3.92 per MMBtu.

April gold ended up 0.1% to $1375.10 per ounce, while March silver shed 0.2% to $30.63 per ounce. Both metals spiked, as the dollar index dropped, after the Iran news broke. However, neither metal was able to maintain its gains and pulled back to finish the day around unchanged. DJ30 +62.63 NASDAQ +21.85 SP500 +8.00 NASDAQ Adv/Vol/Dec 1665/1.8 bln/941 NYSE Adv/Vol/Dec 2232/645.6 mln/750

3:00 pm : Trade this session closes in an hour. As participants conclude trade today and prepare for tomorrow, their focus shifts toward a couple of key economic items.

Tomorrow morning brings the latest CPI reading. After a 0.4% increase in December -- the strongest monthly increase since June 2009 -- economists polled by Briefing.com have projected a CPI increase of 0.3% for January. Most of the gains in CPI are expected to come from increases in energy and food costs. The consensus expects that core prices increased 0.1%, the same rate as in December.

The latest weekly initial jobless claims tally is also due tomorrow. The Briefing.com consensus expects the initial claims level increased to 408,000 during the week ending February 12 after claims fell to 383,000 during the prior week. Last week's tally was the lowest since July 2008. There may be a slight bias in the initial claims level due to severe snowstorms that affected much of the Midwest and Northeast in the beginning of February, though. DJ30 +59.41 NASDAQ +21.08 SP500 +7.52 NASDAQ Adv/Vol/Dec 1618/1.70 bln/994 NYSE Adv/Vol/Dec 2188/600 mln/801

2:30 pm : Stocks have eased back since reaching an afternoon high. Overall gains remain solid, though.

Underlying action continues to feature strength among natural resource plays like energy stocks (+1.1%) and materials stocks (+1.0%) and weakness among defensive-oriented issues like telecom (-0.7%) and utilities (-0.6%).

The dollar has also slipped a bit in recent trade. It now trails a basket of competing currencies by 0.3%. DJ30 +44.73 NASDAQ +15.80 SP500 +5.32 NASDAQ Adv/Vol/Dec 1561/1.58 bln/1013 NYSE Adv/Vol/Dec 2120/575 mln/864

2:00 pm : Stocks have continued to reclaim gains after suffering a midsession sell-off, but a slight slip has followed the minutes from the latest FOMC meeting. According to the minutes, the Fed has raised its economic forecast and noted that risks to GDP growth have diminished. Projected increases in PCE are expected to remain subdued in 2011 and 2012.

Treasusuries have turned lower with the release of the minutes. That pushed the yield on the benchmark 10-year Note up to 3.63%. The yield on the 30-year Bond is now up to 4.68%. DJ30 +56.32 NASDAQ +19.77 SP500 +7.03 NASDAQ Adv/Vol/Dec 1612/1.47 bln/964 NYSE Adv/Vol/Dec 2172/509 mln/801

1:30 pm : Small-cap stocks and mid-cap stocks are out in front of the broader market with gains of 0.7% and 0.6%, respectively. Small-cap issues are currently led by La-Z-Boy (LZB 10.15, +1.87), Photronics (PLAB 9.59, +1.42), and Syneron Medical (ELOS 13.71, +2.03). Mid-cap plays are presently led by Aaron's (AAN 23.48, +3.11), ValueClick (VCLK 16.23, +1.43), and Frontier Oil (FTO 27.72, +1.70). Save for FTO, which reports next week, every one of those names made news for their strong quarterly results.DJ30 +40.49 NASDAQ +14.20 SP500 +5.38 NASDAQ Adv/Vol/Dec 1545/1.34 bln/1009 NYSE Adv/Vol/Dec 2124/466 mln/822

1:00 pm : Rekindled concerns about potential geopolitical tensions have pulled the broad market down from a fresh two-year high, but the overall tone of trade remains positive.

Stocks started the session in higher ground with help from overseas strength. Buyers were also bolstered by the premise that the stock market's ability to limit losses in the prior session was another indication of its resilience and that participants will presumably continue to buy the market's dips for fear of missing out on further gains.

Corporate news was generally positive. Comcast (CMCSA 24.99, +0.83) reported better-than-expected earnings and raised both its dividend and amount for share repurchases. Dell (DELL 15.44, +1.53) also had an upside surprise and issued strong guidance. Deere (DE 95.94, +2.32) had stronger-than-expected earnings, but its top line was light.

Genzyme (GENZ 75.38, +1.07) disappointed on both its bottom and top line, but most focus has been on the company's agreement to be purchased by Sanofi-Aventis (SNY 34.76, +0.27) for $74 per share plus a Contingent Value Right. A deal has long been in the works, but the two companies have struggled to find common ground.

In other merger and acquisition activity, Trian Group issued a proposal to acquire Family Dollar (FDO 53.54, +9.58) for a price in the range of $55 to $60 per share in cash. That has sent shares of FDO soaring and stoked interest in the rest of the discount retailer space. As such, Dollar General (DG 30.04, +3.11) is up sharply; analysts at Citigroup added the stock to their Top Picks Live list.

Although the tone of trade remains broadly positive, stocks recently surrendered a substantial chunk of their gains. The downturn followed a Reuters story that reported plans for two Iranian warships to sail through the Suez Canal today. The ominous movement of the ships comes amid continued pro-democracy protests in the region.

Oil prices responded positively to the report and climbed as high as $85.95 per barrel after they had pulled back in the wake of a relatively bullish weekly inventory report this morning. Oil prices are currently at $85.20 per barrel with a 1.1% gain.

Participants got another heavy dose of data this morning, but there was never anything more than a muted reaction to any of it.

Producer prices for January increased by 0.8%, which is slightly greater than what had been widely expected. Core producer prices increased a more tepid 0.5% month over month, but that is still sharper than what was anticipated.

Housing starts for January spiked 14.6% month over month to an annualized rate of 596,000, but building permits for January dropped 10.4% from the prior month to an annualized rate of 562,000.

Industrial production for January fell 0.1% in the face of calls for an increase.

Minutes from the latest FOMC meeting are scheduled for release at 2:00 PM ET.DJ30 +41.74 NASDAQ +14.67 SP500 +5.63 NASDAQ Adv/Vol/Dec 1513/1.24 bln/1027 NYSE Adv/Vol/Dec 2065/428 mln/858

12:30 pm : A recent flurry of selling caused stocks to roll over to session lows. Stocks are still in positive territory, though.

Treasuries have finally turned positive. The move has taken the yield on the benchmark 10-year Note out of its recent range to below 3.60%. DJ30 +33.34 NASDAQ +11.31 SP500 +4.21 NASDAQ Adv/Vol/Dec 1440/1.12 bln/1067 NYSE Adv/Vol/Dec 2027/385 mln/885

12:00 pm : Oil prices made a modest push higher after the release of the latest weekly oil inventory report, but then started to pullback until a recent flurry of buying drove prices to session highs. Oil currently trades with a 1.8% gain at $85.85 per barrel.

The recent bounce by oil comes in response to a Reuters report regarding plans for two Iranian warships to sail through the Suez Canal to Syria today. The news comes as pro-democracy protests continue to percolate in the region, giving rise to concerns about geopolitical tension.

The rise in oil prices has helped keep energy stocks near their session highs. The sector is up 1.2% with oil and gas equipment plays (+2.2%), drillers (+2.3%), and refiners (+2.6%) sporting the strongest gains. DJ30 +41.55 NASDAQ +16.13 SP500 +5.56 NASDAQ Adv/Vol/Dec 1628/970 mln/857 NYSE Adv/Vol/Dec 2246/325 mln/657

11:30 am : Stocks are starting to hand back some of their gains, but the overall tone of trade remains broadly positive. There isn't any clear cause for the pullback, but it has been relatively broad based.

Treasuries have trimmed losses in recent trade, thanks to the stock market's latest slip. The benchmark 10-year Note has yet to crack into positive territory, though.

Meanwhile, the dollar has also turned lower in recent trade. It had been up slightly against a basket of competing currencies this morning, but renewed support for the euro has undermined the dollar. The euro is currently up 0.4% to $1.354. DJ30 +45.34 NASDAQ +16.24 SP500 +5.37 NASDAQ Adv/Vol/Dec 1634/816 mln/803 NYSE Adv/Vol/Dec 2274/272 mln/618

11:00 am : Stocks recently extended their advance to fresh session highs. The move has been led by natural resource plays, which have been rather volatile this week.

Energy stocks and materials stocks make up the two best performing sectors today. They are up 1.2% and 1.3%, respectively. In the prior session, both sectors fell 1.1% as profit takers sold the heady gains that the two sectors had recorded on Monday.

Despite the stock market's upward push, telecom continues to trade with a 0.5% loss. Integrated telecom giant Verizon (VZ 36.20, -0.26) has been a primary source of weakness for the sector. DJ30 +70.96 NASDAQ +22.80 SP500 +9.37 NASDAQ Adv/Vol/Dec 1672/635 mln/728 NYSE Adv/Vol/Dec 2289/220 mln/564

10:30 am : Oil prices were trading around $84.80 per barrel in the minutes that preceded the weekly crude oil inventory numbers, which reported a build of just 860,000 barrels when a 2 million-barrel build had been expected. Prices have since turned higher so that they trade with a 0.9% gain at $85.05 per barrel.

Natural gas prices have succumbed to a stiff bout of selling. They are currently down 1.3% at $3.93 per MMBtu.

Precious metals have been hit with varied degrees of selling. Gold prices are now down 0.2% to $1371.40 per ounce while silver prices are off by 0.7% at $30.48 per ounce.DJ30 +62.40 NASDAQ +16.73 SP500 +6.71 NASDAQ Adv/Vol/Dec 1652/385 mln/798 NYSE Adv/Vol/Dec 2275/155 mln/552

10:00 am : Stocks started to drift back from their opening push, but buyers have since bid shares to new session highs. The S&P 500 now trades right in line with the 100% gain level from its 2009 low, which was just beneath 667.

Early strength has been broad in that nine of the 10 major sectors are in higher ground -- telecom continues to lag with its 0.6% loss. Consumer discretionary stocks had been early leaders, thanks to strength in retailers, but that sector has started to pull back so that it is now up 0.6%.

Outside of equities, the dollar is up narrowly against a basket of competing currencies. Most of its strength comes in conjunction with a 0.7% drop by the British pound to $1.602.

Treasuries are trading in a relatively tight range that has kept the benchmark 10-year Note down with a fractional loss.

Commodities are mixed at the moment, but the CRB Commodity Index has still made its way to a 0.5% gain.

Advancing Sectors: Consumer Discretionary (+0.6%), Materials (+0.6%), Energy (+0.5%), Health Care (+0.5%), Financial (+0.5%), Industrials (+0.4%), Tech (+0.4%), Consumer Staples (+0.2%)
Unchanged: Utilities
Declining Sectors: Telecom (-0.6%)DJ30 +48.82 NASDAQ +12.68 SP500 +6.11 NASDAQ Adv/Vol/Dec 1520/199 mln/671 NYSE Adv/Vol/Dec 2068/90 mln/606

09:45 am : The broad market is up nicely in the first few minutes of trade, but telecom stocks (-0.4%) have failed to attract buyers. Telecom is still the only major sector that has yet to put together any kind of year-to-date gain; the sector has shed 1.7%, so far, in 2011.

Retailers are attracting some of the strongest support in the early going. As a group, retailers ae up 1.0%. Family Dollar (FDO 54.75, +10.79) is a leader in the group following news that Trian Group issued a proposal to acquire the discount retailer at a price in the range of $55 to $60 per share in cash. The range provided represents a premium of at least 25% of FDO's prior session closing price.DJ30 +39.05 NASDAQ +11.33 SP500 +4.49 NASDAQ Adv/Vol/Dec 1472/51 mln/514 NYSE Adv/Vol/Dec 1695/30 mln/411

09:15 am : S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.25. Strength overseas has provided a positive backdrop to early trade. Some participants have simply been encouraged by the stock market's ability to limit losses in the prior session without opening the door for a more concerted selling effort. That kind of resilience has bolstered the belief that buyers will continue to chase stocks and buy the market's dips for fear of missing out on future gains. Data has been a bit mixed so far, though. Producer prices proved mixed relative to expectations, housing permits spiked more than expected, but building permits fell sharper than what had been anticipated. Industrial production for January was just posted. It fell 0.1%, which contrasts with the Briefing.com consensus call for a 0.6% increase.

09:05 am : S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +6.50. Domestic stock futures continue to trade with strength. Action abroad has helped foster a positive tone. Specifically, Germany's DAX is currently up 0.2%, which puts it at a new three-year high today. Deutsche Bank (DB) has shown leadership for the second straight session. Commerzbank has complemented its efforts. Daimler (DAI) has been a bit of a drag, though. France's CAC is up 0.9% to a two-year high amid leadership from Sanofi-Aventis (SNY) and Societe Generale. Sanofi-Aventis appears to be close to wrapping up its deal to acquire Genzyme (GENZ). Reports indicate GENZ will be acquired for $74 per share plus a Contingent Value Right. Societe Generale reported fourth quarter net income that exceeded what had been widely expected. Britain's FTSE is up 0.6% as advancers, led by HSBC (HBC), Vodafone (VOD), Astra Zeneca (AZN), and Royal Dutch Shell (RDS.A), outnumber declining issues by 3-to-1. Metal and mining plays BHP Billiton (BHP) and Rio Tinto (RIO) are among the more notable laggards. The FTSE is still shy of the multiyear high that it set earlier this week. As for data, the United Kingdom Consumer Confidence poll for January came in at 47, down from 54 in December. Following a sharp increase in monthly consumer prices, the Bank of England reported that its CPI forecast calls for increases of close to 1.7% in two years. The British pound performed well in the prior session, but it is under pressure today.

In Asia, mainland China's Shanghai Composite climbed to a 0.9% gain as a broad bid helped advancers outnumber declining issues by 8-to-1. China Petroleum (SNP) was a primary leader, but PetroChina (PTR) was atop the list of laggards. Despite broad buying, the Index couldn't quite reach the two-month intraday high that it set in the prior session. Hong Kong's Hang Seng advanced 1.1% amid leadership from HSBC and China Construction Bank. However, fellow banking issues Bank East and Hang Seng Bank failed to follow and, instead, logged losses. Japan's Nikkei gained 0.6% to hit a nine-month high. TDK Corp, Softbank, and Tokyo ELectron were leaders. Honda Motor (HMC) and KDDI traded as laggards.

08:35 am : S&P futures vs fair value: +4.90. Nasdaq futures vs fair value: +7.00. Stock futures continue to sport a modest lead over fair value. Any initial reaction to the latest dose of data has subsided. Producer prices for January increased by 0.8%, which is slightly greater than the 0.7% increase that had been generally expected among economists surveyed by Brieifng.com. Producer prices had increased 1.1% in the prior month. As for core producer prices, they increased a more tepid 0.5% month over month, but that is still sharper than the 0.2% increase that had been widely expected after a 0.2% increase in the prior month. Housing starts for January had been expected, on average, among economists polled by Briefing.com to hit an annualized rate of 540,000, but instead they spiked 14.6% month over month to an annualized rate of 596,000. The surge makes for a sharp rebound from the downwardly revised 5.1% decline that was reported for the prior month. Building permits for January dropped 10.4% from the prior month to an annualized rate of 562,000. After a 15.3% jump in the prior month, January building permits had been widely expected to come in at 575,000.

08:05 am : S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +8.30. Stock futures are up modestly this morning. Support stems from varied gains abroad and precedes another large dose of data, which includes the latest in housing starts, building permits, and producer prices (8:30 AM ET), followed by industrial production and capacity utilization data (9:15 AM ET), and minutes from the latest FOMC meeting (2:00 PM ET). In corporate news, Comcast (CMCSA) reported better-than-expected earnings and raised its dividend and share repurchase amount. Dell (DELL) also had an upside surprise and issued strong guidance. Deere (DE) had stronger-than-expected earnings, but its top line was light. Genzyme (GENZ) disappointed on both its bottom and top line, but the company has agreed to be purchased by Sanofi-Aventis (SNY) for $74 per share plus a Contingent Value Right. There is also news Trian Group has issued a proposal to acquire Family Dollar (FDO) for a price in the range of $55 to $60 per share in cash. Meanwhile, Air Products (APD) has withdrawn its offer for Airgas (ARG).

06:49 am : [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +6.30.

06:49 am : Nikkei...10808.29...+61.60...+0.60%. Hang Seng...23156.97...+257.20...+1.10%.

06:49 am : FTSE...6068.56...+31.50...+0.50%. DAX...7412.19...+12.10...+0.20%.

12:00 am : Oil prices were trading around $84.80 per barrel in the minutes that preceded the weekly crude oil inventory numbers, which reported a build of just 860,000 barrels when a 2 million-barrel build had been expected. Prices have since turned higher so that they trade with a 0.9% gain at $85.05 per barrel.

Natural gas prices have succumbed to a stiff bout of selling. They are currently down 1.3% at $3.93 per MMBtu.

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

6:43PM Dover announces $800 mln debt offering (DOV) 66.63 +0.16 : Co announced that it will issue $450 million of 4.30% Notes due 2021 and $350 million of 5.375% Notes due 2041. The net proceeds from the sales of the notes will be used to repay commercial paper, including commercial paper issued to pay the $400 million of 6.50% notes, which matured February 15, 2011, and for other general corporate purposes. The new notes will be redeemable at the option of Dover in whole or in part at any time at a redemption price that includes a make-whole premium, with accrued interest to the redemption date. The transaction is anticipated to close on February 22, 2011. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., RBS Securities Inc. and Wells Fargo Securities, LLC served as joint-book-running managers for both offerings.

6:32PM Medtronic reported that Kyphon Balloon Kyphoplasty found beneficial for treating spinal fractures in cancer patients (MDT) 40.20 +0.60 : announced the results of the first randomized, controlled trial comparing Kyphon Balloon Kyphoplasty with non-surgical care in treating spinal fractures in cancer patients. The study found that Kyphon Balloon Kyphoplasty provided cancer patients better back-specific function, more rapid back pain relief and improved quality of life compared with non-surgical care one month after treatment. The study was published today in the online edition of The Lancet Oncology. It involved 134 patients with vertebral compression fractures who also had various types of cancer such as breast, lung, and prostate or had multiple myeloma and took place at 22 sites in the U.S., Europe, Australia and Canada.

6:32PM O'Reilly Auto beats by $0.05, beats on revs; guides Q1 EPS below consensus; guides FY11 EPS in-line, revs in-line (ORLY) 58.28 +0.58 : Reports Q4 (Dec) earnings of $0.69 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.64; revenues rose 11.6% year/year to $1.31 bln vs the $1.29 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.74-0.78, excluding non-recurring items, vs. $0.81 Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $3.37-3.47, excluding non-recurring items, vs. $3.47 Thomson Reuters consensus; sees FY11 revs of $5.7-5.8 bln vs. $5.71 bln Thomson Reuters consensus.

6:09PM Dynamics Research reports EPS in-line, revs in-line; guides Q1 EPS below consensus, revs in-line; guides FY11 EPS in-line, revs in-line (DRCO) 74.77 +1.26 : Reports Q4 (Dec) earnings of $0.39 per share, in-line with the Thomson Reuters consensus of $0.39; revenues rose 6.1% year/year to $69.8 mln vs the $70.3 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.25-0.27 vs. $0.29 Thomson Reuters consensus; sees Q1 revs of $68-70 mln vs. $69.29 mln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $1.25-1.30 vs. $1.30 Thomson Reuters consensus; sees FY11 revs of $281-289 mln vs. $285.63 mln Thomson Reuters consensus.

6:04PM HollySys beats by $0.08; raises FY11 revs guidance (HOLI) 16.26 +0.57 : Reports Q2 (Dec) earnings of $0.27 per share, $0.08 better than the Thomson Reuters consensus of $0.19; revenues rose 61.1% year/year to $74.4 mln vs the $63.0 mln consensus. Co raises FY11 revs to $243-247 mln vs. $238.7 mln consenus, up from $233-237 mln.

5:56PM Brandywine Realty beats by $0.01, beats on revs; raises botton end of FY11 FFO in-line (BDN) 12.21 +0.07 : Reports Q4 (Dec) funds from operations of $0.33 per share, $0.01 better than the Thomson Reuters consensus of $0.32; revenues rose 1.9% year/year to $147.7 mln vs the $143.9 mln consensus. Co issues in-line guidance for FY11, sees FFO of $1.26-1.34 vs. $1.31 Thomson Reuters consensus, up from $1.24-1.34.

5:46PM Allergan reports that FDA approves expanded use of LAP-BAND adjustable gastric banding system (AGN) 74.77 +1.26 : Co announced the U.S. Food and Drug Administration approved the expanded use of the LAP-BAND System, Allergan's gastric band, for adults with obesity who have failed more conservative weight reduction alternatives, such as diet and exercise and pharmacotherapy, and have a Body Mass Index of 30-40 and at least one obesity related comorbid condition. Currently, ~37 million Americans have a BMI of 30-40 and at least one comorbid condition,1,2 underscoring obesity as a growing health epidemic in the United States and the need for additional effective treatment options.

5:41PM Chemtura to increase production of Synton high viscosity PAO and Naugalube 438L ADPA antioxidant (CHMT) 17.52 +0.32 : Co increase plan for its line of High Viscosity Synton 40 and Synton 100 Polyalphaolefin (PAO) products at its facility in Elmira, Ontario, Canada. The debottlenecking process equipment will be completely operational in the second quarter of 2011, with some of the increased capacity coming by the end of the first quarter. Chemtura's Synton Polyalphaolefin (PAO) products are high-viscosity, highly saturated polymers used in automotive and industrial applications. They can be used as a high-viscosity synthetic basestock or as a viscosity modifier component for high-performance lubricant or synthetic lubricant formulations, such as gear oils and engine oils. In addition, Chemtura has announced it will increase production of its Naugalube 438L alkylated diphenylamine liquid antioxidant product in both its Latina, Italy and Elmira, Ontario, Canada facilities. The increased capacity will be available by the end of the first quarter of 2011. These investments come on top of the recently announced new production facility for its Naugalube 403 liquid antioxidant in Rio Claro, Brazil.

5:26PM Henry Schein reports that OHK Medical Devices selects Henry Schein as exclusive distributor of HemaClear (HSIC) 68.76 +0.37 : Co OHK Medical Devices announced that it has selected Henry Schein Medical, the U.S. physician business of Henry Schein (HSIC), the largest distributor of health care products and services to office-based dental, medical and veterinary practitioners, as the exclusive distributor of HemaClear for the U.S. alternate care market. HemaClear is the first and only surgical tourniquet single-use device that exsanguinates, occludes, and provides a clearer surgical field.

5:22PM Energy Transfer misses by $0.01, misses on revs (ETP) 54.40 +0.11 : Reports Q4 (Dec) earnings of $0.65 per share, $0.01 worse than the Thomson Reuters consensus of $0.66; revenues fell 3.4% year/year to $1.45 bln vs the $1.89 bln consensus.

5:13PM Sun Life misses by $0.01 (SLF) 34.42 +0.38 : Reports Q4 (Dec) earnings of $0.88 per share, $0.01 worse than the Thomson Reuters consensus of $0.89. "Strong financial markets resulted in higher earnings in the fourth quarter. Improvements in equity markets and increased interest rates were the main drivers of higher earnings this quarter. This was partially offset by the impact of changes to actuarial estimates and assumptions related primarily to mortality, and higher levels of expenses, which included several non-recurring items. Credit experience continued to show improvement over the prior year.

5:05PM Pier 1 Imports announced that all its outstanding 6.375% Convertible Senior Notes due 2036 have been surrendered and paid in full and are no longer outstanding (PIR) 10.09 -0.10 :

5:02PM Teradyne reached an agreement to sell its Automotive Diagnostic Solutions unit to SPX Corporation (SPW) (TER) 18.92 +1.05 : Co has reached an agreement to sell its Automotive Diagnostic Solutions unit to SPX Corporation. Diagnostic Solutions, which serves transportation OEMs, tier-one suppliers and independent service providers is based in Manchester, England and has other major operations in Munich and Detroit. The terms of the sale were not disclosed. Completion of the transaction is expected no later than the second quarter 2011.

5:02PM Vital Images beats by $0.04, beats on revs (VTAL) 14.23 -0.02 : Reports Q4 (Dec) earnings of $0.09 per share, $0.04 better than the Thomson Reuters consensus of $0.05; revenues rose 1.9% year/year to $16.1 mln vs the $15.8 mln consensus.

5:01PM Penn Virginia announces start of service on second Marcellus Shale natural gas gathering system (PVR) 27.45 : Co announces that its midstream division began commercial operation of the first section of its natural gas gathering system in Lycoming County, Pennsylvania. PVR's Lycoming system provides more than 850 million cubic feet per day of capacity on its 30-inch trunk line and connects natural gas producers' operating wells to the Transcontinental Gas Pipe Line Company, interstate pipeline system. This new system is PVR's second gathering system in the Marcellus region; PVR began operation of a 12-inch gathering system in Wyoming County last year.

5:00PM Green Bankshares announces the retirement of Chief Financial Officer James E. Adams (GRNB) 3.51 -0.02 : Co announces James E. Adams, the Company's Executive Vice President and Chief Financial Officer, has notified the Company and GreenBank of his intention to retire effective May 16, 2011. The Company will commence a search for his replacement immediately. Adams is expected to provide advisory services to the Company and GreenBank for six months following his retirement to assist in the transition of his responsibilities to his replacement.

5:00PM Phoenix Footwear announces voluntary delisting of its common stock from NYSE Amex (PXG) 0.25 +0.01 :

4:57PM HMN Financial, Inc. comments on Office of Thrift Supervisory agreements (HMNF) 2.10 -0.31 : remarked, "The current recession has severely impacted banks across the United States, and Home Federal is not immune. Our top priorities are the sound and ethical operation of Home Federal and providing excellent customer service in the communities that we serve. Home Federal has maintained capital levels above what is required to be 'well-capitalized', as defined by our regulators. The OTS has offered guidance to banks across the country as we collectively recover from the recession. I am confident that we have taken steps to build a solid future for our Bank, and we expect our agreements with the OTS will further strengthen our foundation." "In addition, the decline in real estate values and single-family home sales has caused commercial loan customers to also experience significant stress. As a result, the loss in business income has made it difficult for some commercial borrowers to repay their loans. To address the increase in problem loans, we have hired additional staff whose key responsibility is to work with our commercial loan customers during this period. We also conducted ongoing reviews of Home Federal's commercial loans, enabling us to identify problems early on - before they might become major losses for our borrowers and our Bank. Lastly, we implemented policies and procedures to strengthen how we analyze new loan requests."

4:48PM Maidenform Brands announces it will be the exclusive distributor of intimate apparel products incorporating Nano-Tex's Neutralizer (MFB) 24.91 +0.03 :

4:48PM Brookfield Homes reported Q4 net income of $4.9 mln vs ($16.7 mln) in last year's quarter; revs fell 15.3% to $122.9 mln (BHS) 14.70 +0.11 : "The outlook for the California and Washington, DC area markets in 2011, while cautiously optimistic heading into the traditional spring selling season, is tempered by the impact of continued economic weakness, high unemployment and foreclosures. The company anticipates that the majority of foreclosures or distress inventories in our market areas will be absorbed by the end of 2011, which in turn will result in higher demand for new homes. In addition, there is a very limited supply of finished lots, and Brookfield is strategically well positioned to benefit from increased demand."

4:47PM NGP Capital Resources announces departure of John H. Homier and the appointment of Stephen K. Gardner as new CEO (NGPC) 9.37 0.00 : Co announced that effective as of February 16, 2011, John H. Homier, its Chief Executive Officer and President is leaving to assume a new role as a Venture Partner with the Natural Gas Partners funds. Stephen K. Gardner, the Company's current Chief Financial Officer, Secretary and Treasurer, has been promoted to Chief Executive Officer and President of the Company.

4:47PM Tomotherapy has expanded into Central America with the introduction of TomoTherapy treatments at the International Cancer Center of El Salvador in San Salvador (TOMO) 3.65 +0.10 :

4:43PM KBR Inc. awarded a contract by the Public Works Authority of Qatar to provide program management services and engineering support (KBR) 34.39 +0.79 :

4:39PM Cliffs Natural Resources rallies ~7.1% to $99.50 following earnings results (see 16:37 comment) (CLF) 92.88 +0.54 :

4:37PM Cliffs Natural Resources beats by $0.65, reports revs in-line (CLF) 92.88 +0.54 : Reports Q4 (Dec) earnings of $2.82 per share, $0.65 better than the Thomson Reuters consensus of $2.17; revenues rose 73.6% year/year to $1.42 bln vs the $1.43 bln consensus. The co anticipates global steel production will continue to grow in 2011, primarily driven by emerging economies such as China, India and Brazil. Based on these dynamics, Cliffs continues to have an optimistic outlook for its businesses. North American Iron Ore Outlook (Long tons): Cliffs said it is increasing its 2011 North American Iron Ore sales volume expectation to approximately 28 million tons, partially as a result of the additional 600,000 tons of sales volume indicated above, it expects to recognize in the first quarter of 2011, with the balance due to improved market conditions. Asia Pacific Iron Ore Outlook (Metric tons f.o.b the port): Asia Pacific Iron Ore 2011 sales and production volumes are expected to be 9 million tons. Cliffs' 2011 Asia Pacific Iron Ore revenue-per-ton expectation is $175 - $180.

4:33PM Kinross Gold misses by $0.02, reports revs in-line (KGC) 16.99 +0.35 : Reports Q4 (Dec) earnings of $0.13 per share, excluding non-recurring items, $0.02 worse than the Thomson Reuters consensus of $0.15; revenues rose 31.7% year/year to $920.4 mln vs the $924 mln consensus. Kinross forecasts 2011 production of 2.5-2.6 million gold equivalent ounces at an average cost of sales per gold equivalent ounce of $565 - 610. Proven and probable mineral reserves as of December 31, 2010 were 62.4 million gold ounces, an 11.5 million ounce, or 23% increase year-over- year. "In 2011, with a full year of output from our West African mines, we forecast production will increase to 2.5-2.6 million gold equivalent ounces, while we also expect higher costs as a result of increased energy and labour costs, and lower average grades. By 2015, we expect production to grow to 4.5-4.9 million ounces, as our suite of new projects start up in 2013 and 2014. With new studies completed at Tasiast, FDN, Lobo-Marte, and Dvoinoye, we are making significant and steady progress advancing the projects that give Kinross the best growth profile among senior gold producers."

4:32PM Eagle Rock Energy was notified that inclement weather in East Texas has caused delays in returning the Eustace facility to service (EROC) 17.59 :

4:31PM Unifi call for partial redemption of its 11.5% senior secured notes due 2014 (UFI) 19.32 +0.13 :

4:29PM Curtiss-Wright receives a multi-million dollar contract from Hanwha of S. Korea for the design and manufacture of towed-array handling systems for the South Korean shipbuilding program (CW) 37.23 +0.76 :

4:28PM Kite Realty reports EPS in-line, revs in-line; guides FY11 FFO in-line (KRG) 5.30 0.05 : Reports Q4 (Dec) funds from operations of $0.11 per share, in-line with the Thomson Reuters consensus of $0.11; revenues fell 11.6% year/year to $25.9 mln vs the $25.7 mln consensus. Co issues in-line guidance for FY11, sees FFO of $0.40-0.45 vs. $0.44 Thomson Reuters consensus.

4:28PM Harris Interactive and Top Box Associates announce a strategic alliance that offers clients a flexible and cost-effective new product forecasting solution (HPOL) 1.00 -0.06 :

4:26PM EnerNOC beats by $0.14, misses on revs; guides Q1 EPS below consensus, revs below consensus; guides FY11 EPS above consensus, revs below consensus (ENOC) 19.30 -0.70 : Reports Q4 (Dec) loss of $0.69 per share, excluding non-recurring items, $0.14 better than the Thomson Reuters consensus of ($0.83); revenues fell 15.0% year/year to $22.7 mln vs the $23 mln consensus. Co issues downside guidance for Q1, sees EPS of (0.84-0.64) vs. ($0.55) Thomson Reuters consensus; sees Q1 revs of $25-31 mln vs. $37.04 mln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $0.97-1.23 vs. $0.68 Thomson Reuters consensus; sees FY11 revs of $300-325 mln vs. $326.36 mln Thomson Reuters consensus.

4:20PM MacQuarie Infrastructure intends to resume its regular cash dividend with 1Q11 dividend of $0.20/share (MIC) 24.46 +0.18 : Co currently expects to sustain the dividend for the foreseeable future.

4:19PM ION Geophysical beats by $0.07, beats on revs (IO) 9.88 +0.12 : Reports Q4 (Dec) earnings of $0.14 per share, excluding items, $0.07 better than the Thomson Reuters consensus of $0.07; revenues rose 30.8% year/year to $158.6 mln vs the $111.4 mln consensus. Co continues to expect the second half of 2010 to be considerably better than the first half and this proved to be the case as we finished the year by delivering strong fourth quarter results. Similar to years prior to the global financial collapse of 2008, they anticipate their 2011 financial performance to be back-end loaded. Co anticipates investing between $90 and $110 mln in their customer-underwritten multi-client data libraries. Estimates interest expense for 2011 to be between $5 and $7 million.

4:18PM Charles & Colvard 2010 sales Increase 53% (CTHR) 3.77 +0.08 : Co announces its net sales for the year ended December 31, 2010 increased 53% when compared with sales in 2009. Net sales improved 48% in the fourth quarter of 2010 versus the corresponding period of 2009. The co also announced that it will host an investor conference call to discuss its financial results for the quarter and year ended December 31, 2010 at 11:15 a.m. EST on Wednesday, February 23, 2011. The Company will release its financial results earlier the same day.

4:18PM TRW Automotive appoints John Plant as Chairman of the Board (TRW) 59.64 -0.82 : Mr. Plant has held the position of president and chief executive officer and has been serving as a member of co's board since 2003.

4:18PM Transocean has been awarded five-year, $246 mln drilling contracts for two newbuild high-specification jackup rigs for operations in Thailand for a subsidiary of Chevron Corporation (CVX) (RIG) 80.49 +1.04 :

4:17PM Avis Budget reports EPS in-line, beats on revs (CAR) 15.66 +0.12 : Reports Q4 (Dec) loss of $0.06 per share, in-line with the Thomson Reuters consensus of ($0.06); revenues rose 5.7% year/year to $1.23 bln vs the $1.19 bln consensus. The Company is continuing its efforts to reduce costs and enhance productivity and expects that such initiatives will provide $45-55 million of incremental savings in 2011 compared to 2010, bringing the annual savings from the Company's actions since 2008 to more than $550 million. The Company also expects that its effective tax rate in 2011 will be approximately 38-40%.

4:17PM CNA Financial announces the redemption of all of its outstanding $400 mln aggregate principal amount of 6.00% senior notes due August 15, 2011 (CNA) 29.93 +0.17 :

4:17PM Health Management reports EPS in-line, revs in-line; reaffirms FY11 EPS guidance (HMA) 9.66 -0.01 : Reports Q4 (Dec) earnings of $0.16 per share, in-line with the Thomson Reuters consensus of $0.16; revenues rose 14.2% year/year to $1.35 bln vs the $1.35 bln consensus. Co reaffirms guidance for FY11, sees EPS of $0.72-0.76 vs. $0.74 Thomson Reuters consensus. Our acquisition pipeline is currently very active, and we expect to complete additional acquisitions in 2011 as we continue to see attractive assets at attractive valuations. We believe the earnings potential is compelling, and we intend to remain disciplined in our approach, and continue to believe that these acquisition opportunities offer us a growth catalyst to add significant value to our company."

4:16PM Wisconsin Energy promotes Frederick Kuester to chief financial officer (WEC) 58.90 +0.20 : Mr. Keuster is currently currently president and chief executive officer of We Generation.

4:12PM Synopsys beats by $0.04, reports revs in-line; guides Q2 EPS in-line, revs above consensus; guides FY11 EPS in-line, revs in-line (SNPS) 29.03 -0.13 : Reports Q1 (Jan) earnings of $0.44 per share, $0.04 better than the Thomson Reuters consensus of $0.40; revenues rose 10.4% year/year to $364.6 mln vs the $365.2 mln consensus. Co issues guidance for Q2, sees EPS of $0.43-0.45 vs. $0.43 Thomson Reuters consensus; sees Q2 revs of $386-394 mln vs. $373.98 mln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $1.67-1.77 vs. $1.74 Thomson Reuters consensus; sees FY11 revs of $1.5-1.525 bln vs. $1.52 bln Thomson Reuters consensus.

4:12PM SS&C Techs announces Solmar Hotels & Resorts Selects co's TimeShareWare (SSNC) 19.70 -0.06 : Co announces Solmar Hotels & Resorts, with three resorts and over 850 units, has selected SS&C's TimeShareWare Professional to manage all its sales and marketing, lead management, property management, and online rental operations.

4:11PM Rubicon Tech beats by $0.14, beats on revs; guides Q1 EPS upside, revs in-line (RBCN) 21.11 +0.71 : Reports Q4 (Dec) earnings of $0.64 per share, $0.14 better than the Thomson Reuters consensus of $0.50; revenues rose 247.1% year/year to $29.5 mln vs the $26.8 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.62-0.65 vs. $0.52 Thomson Reuters consensus; sees Q1 revs of $34-36 mln vs. $31.30 mln Thomson Reuters consensus.

4:10PM Bravio Brio beats by $0.11, reports revs in-line; guides FY11 EPS, revs in-line (BBRG) 17.88 -0.07 : Reports Q4 (Jan) earnings of $0.27 per share, excl items, $0.11 better than the Thomson Reuters consensus of $0.16; revenues rose 8.5% year/year to $88.3 mln vs the $88.9 mln consensus. Co issues in-line guidance for FY11; co sees EPS of $0.75-0.80, excl items, vs. $0.80 consensus, sees revs of $365-370 mln vs. $368.5 mln consensus

4:10PM CBS beats by $0.02, beats on revs (CBS) 22.10 +0.45 : Reports Q4 (Dec) earnings of $0.46 per share, $0.02 better than the Thomson Reuters consensus of $0.44; revenues rose 11.4% year/year to $3.9 bln vs the $3.85 bln consensus.

4:09PM J. Crew anounces expiration of the 'Go Shop' period; co did not receive any alternative acquisition proposals during the 85-day "go shop" period (JCG) 43.61 +0.11 : Co announced the expiration of the 85 day "go shop" period pursuant to the terms of the previously announced merger agreement dated as of November 23, 2010, as amended on January 18, 2011, between the Company and affiliates of TPG Capital, L.P. and Leonard Green & Partners, L.P... The Company engaged in an active and extensive solicitation of 59 potentially interested parties in connection with the "go shop" period, which resulted in four parties negotiating and entering into confidentiality agreements with the Company, including one party who first expressed an interest after the initial "go shop" period that was due to expire on January 15, 2011 was extended through February 15, 2011. Despite its solicitation efforts, the Company did not receive any alternative acquisition proposals during the 85-day "go shop" period.

4:08PM NetApp drops to $54.25 in after hours trading following disappointing guidance (NTAP) 58.54 +0.10 :

4:08PM InterMune reports Q4 results, records EPS of $3.34 vs. ($0.62) a year earlier (ITMN) 38.00 +0.09 : Reports Q4 (Dec) earnings of $3.34 per share, which may not compare to the Thomson Reuters consensus of $0.64. Revenues rose to $241.6 mln, which includes $175 mln from the sale of danoprevir in Oct. 2010 and the accelerated recognition of approximately $57.3 million of remaining deferred revenue in connection with the termination of the 2006 Hoffmann-La Roche Inc. and F. Hoffmann-La Roche Ltd. collaboration agreement. Revenue may not compare vs. the $53.9 mln consensus. Co states that it currently expects to provide full-year 2011 guidance after the company meets with the FDA in March 2011 and finalizes the details of its U.S. Phase 3 study of pirfenidone for the treatment of IPF.

4:07PM Xenoport reports Q4 results (XNPT) : Reports Q4 (Dec) loss of $0.47 per share, $0.15 better than the Thomson Reuters consensus of ($0.62); revenues fell 67.2% year/year to $1.9 mln vs the $0.7 mln consensus.

4:07PM NCI beats by $0.05, beats on revs; guides Q1 EPS in-line, revs in-line; guides FY11 EPS in-line, revs above consensus (NCIT) 20.11 -0.10 : Reports Q4 (Dec) earnings of $0.50 per share, $0.05 better than the Thomson Reuters consensus of $0.45; revenues rose 36.8% year/year to $171 mln vs the $162.6 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.42-0.46 vs. $0.43 Thomson Reuters consensus; sees Q1 revs of $145-155mln vs. $150.10 mln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $1.80-1.90 vs. $1.84 Thomson Reuters consensus; sees FY11 revs of $610-630 mln vs. $603.78 mln Thomson Reuters consensus. Co says "2010 was a very successful year for NCI in many ways. Most importantly, we met our long-standing objective and crossed over the $500 million in revenue mark. With this foundation in place, we are now focused on reaching $1 billion in revenue within the next three to five years. While the macro environment presents some challenges, we have a seasoned management team, a robust portfolio of GWAC/IDIQ contracts, a cadre of skilled and talented employees, and a reputation for superior customer satisfaction to navigate the current headwinds."

4:07PM NetApp beats by $0.02, reports revs in-line; guides Q4 EPS below consensus, revs in-line (NTAP) 58.54 +0.10 : Reports Q3 (Jan) earnings of $0.52 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.50; revenues rose 25.3% year/year to $1.27 bln vs the $1.28 bln consensus. Co issues guidance for Q4, sees EPS of $0.49-0.53, excluding non-recurring items, vs. $0.54 Thomson Reuters consensus; sees Q4 revs +15-20% YoY to $1.36-1.41 bln vs. $1.38 bln Thomson Reuters consensus.

4:07PM Jarden beats by $0.05, beats on revs (JAH) 34.35 -0.13 : Reports Q4 (Dec) earnings of $0.86 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.81; revenues rose 20.9% year/year to $1.68 bln vs the $1.64 bln consensus.

4:06PM Trinity Industries beats by $0.06, beats on revs; guides Q1 EPS in-line (TRN) 31.48 +0.17 : Reports Q4 (Dec) earnings of $0.26 per share, excluding items, $0.06 better than the Thomson Reuters consensus of $0.20; revenues rose 28.3% year/year to $652 mln vs the $562.8 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.15-0.20 vs. $0.20 Thomson Reuters consensus. Co says while positive trends are developing for the key drivers of its businesses, the continuing uncertainty regarding the pace of economic recovery makes it difficult at this time to provide earnings guidance beyond the first half of 2011. For the first six months of 2011, the co anticipates earnings per common diluted share of between $0.45-$0.60.

4:06PM Skechers USA misses by $0.06, beats on revs (SKX) 22.07 +0.03 : Reports Q4 (Dec) earnings of $0.07 per share, $0.06 worse than the Thomson Reuters consensus of $0.13; revenues rose 17.0% year/year to $454.6 mln vs the $411.8 mln consensus. Co reported gross margins of 40.5% compared to 41.3% consensus. Inventory rises to $398 mln compared to $324 mln in Q3. Co statement: "As we look forward, we are assessing all areas of our business to position ourselves to profitably grow in the future. Currently, we are carefully reviewing our expenses, which have increased in part due to significant growth over the past year. Our inventory increased by $175 million year-over-year, of which approximately $65 million is to support the increases in our international and retail expansion, and $110 million is related to our domestic wholesale business. As we aggressively work through our inventory position, we anticipate our domestic wholesale revenues and margins will be impacted in the first and second quarters, but we believe they will improve in the second half of the year. And with a healthy double-digit backlog in international as well, we believe our growth will continue to accelerate around the world".

4:05PM Endo Pharm announces first patient enrolled in second Phase III clinical trial of Urocidin (ENDP) 34.87 -0.05 :

4:05PM DealerTrack beats by $0.01, reports revs in-line; guides FY11 EPS in-line (TRAK) 20.80 +0.04 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.18; revenues rose 16.5% year/year to $62 mln vs the $61.4 mln consensus. Co issues in-line guidance for FY11, sees EPS of $0.68-0.74, excluding non-recurring items, vs. $0.72 Thomson Reuters consensus.

4:04PM Orion Energy Systems announces a restructuring of the Orion Asset Management division in relation to financing and funding certain of co's customer finance programs going forward (OESX) 3.90 0.00 : Co announced today a restructuring of the Orion Asset Management (OAM) division in relation to financing and funding certain of the Company's customer finance programs going forward. Orion has renewed a long-standing relationship with a third-party finance company to sell certain qualifying Orion Throughput Agreement (OTA) contracts on a non-recourse basis going forward. The finance company will take over various back-office procedures relating to the financing and funding of qualifying OTA contracts, previously handled by the OAM division, including preparation of the underlying OTA contract, credit application, credit underwriting and contract servicing. As part of the arrangement, the finance company has agreed to purchase the future cash flows from certain qualifying OTAs that meet its credit standards, at costs of capital that are expected to be consistent with rates that Orion has charged finance customers historically. From fiscal 2004 through fiscal 2010, Orion had sold, without recourse, 155 OTA contracts to the third-party finance company, which has experienced a favorable performance history relating to the previously-sold OTAs. Orion also has entered into a similar-structured arrangement with a third-party developer and owner of renewable energy systems to sell certain qualifying solar Power Purchase Agreement (PPA) contracts on a non-recourse basis going forward. Orion has received a preliminary term-sheet commitment for certain proposed solar PPA projects that are in the process of being finalized.

4:04PM AVEO Pharma and Astellas enter into worldwide agreement to develop and commercialize Tivozanib outside of Asia; co to receive $125 mln upfront and $1.3 bln in potential (AVEO) 13.88 -0.28 : Under the terms of the agreement, co will receive an initial cash payment of $125 mln, composed of a $75 mln license fee and $50 mln in research and development funding. Co is also eligible to receive approximately $1.3 bln in potential milestones comprised of $575 mln in clinical and regulatory milestones, including $90 mln in connection with the regulatory filings and market approval of tivozanib in RCC, as well as more than $780 mln in commercial milestones. The upfront cash payment of $125 mln is not included in Astellas' current fiscal year (from April 1, 2010 to March 31, 2011) financial forecast.

4:03PM Express Scripts beats by $0.01, misses on revs; reaffirms FY11 EPS guidance (ESRX) 57.42 -0.14 : Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.70; revenues rose 37.8% year/year to $11.29 bln vs the $11.52 bln consensus. Co reaffirms guidance for FY11, sees EPS of $3.15-3.25, excluding non-recurring items, vs. $3.22 Thomson Reuters consensus.

4:03PM Itron misses by $0.10, beats on revs; guides FY11 EPS in-line, revs in-line (ITRI) 63.62 +0.12 : Reports Q4 (Dec) earnings of $0.95 per share, $0.10 worse than the Thomson Reuters consensus of $1.05; revenues rose 30.2% year/year to $620.7 mln vs the $576.5 mln consensus. Co issues in-line guidance for FY11, sees EPS of $3.95-4.40 vs. $4.38 Thomson Reuters consensus; sees FY11 revs of $2.15-2.30 bln vs. $2.33 bln Thomson Reuters consensus.

4:03PM DealerTrack acquires Polk's U.S. price and spec business, terms not disclosed (TRAK) 20.80 +0.04 :

4:02PM Sensata Tech announces proposed secondary offering of 20 mln ordinary shares (ST) 32.03 +0.38 : Morgan Stanley, Barclays Capital, Goldman, Sachs & Co., BofA Merrill Lynch and J.P. Morgan are acting as joint book-running managers for the offering.

4:02PM Cray beats by $0.19, beats on revs; guides Q1 revs above consensus; guides FY11 revs below consensus (CRAY) .26 +0.15 : Reports Q4 (Dec) earnings of $1.46 per share, $0.19 better than the Thomson Reuters consensus of $1.27; revenues rose 148.8% year/year to $219.4 mln vs the $213.3 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $35-40 mln vs. $35.00 mln Thomson Reuters consensus. Co issues downside guidance for FY11, sees FY11 revs of $320-340 mln vs. $340.34 mln Thomson Reuters consensus. For the year, gross margins are expected to be in the range of 2010 levels and operating expenses are expected to be higher than 2010, driven primarily by lower anticipated R&D co-funding credits. Based on this outlook, the co expects to be profitable for 2011. Cash balances are expected to increase significantly from fourth quarter levels by the end of the first quarter of 2011.

4:01PM Williams Cos to pursue separating into two stand-alone, publicly traded companies; boosts dividend 60% to $0.20 per share (WMB) 27.76 +0.73 : Co's board of directors has approved pursuing a plan to separate the co's businesses into two stand-alone, publicly traded corporations. The plan calls for Williams to separate its exploration and production business via an initial public offering (IPO) in third-quarter 2011 of up to 20% of its interest and, in 2012, a tax-free spinoff to co's shareholders of its remaining interest. The board also said it plans to boost the quarterly dividend paid to co's shareholders, with an initial increase of 60% to $0.20 per co's share for the first-quarter 2011 dividend, paid in June. The co is targeting an additional 10% to 15% increase for the quarterly dividends it will pay beginning in June 2012. Williams' largest component will be its ownership interests in Williams Partners (WPZ).: 100% ownership of the general partner, which has a 2% interest in Williams Partners and certain preferred rights; and 73 percent limited-partner interest. New E&P will be one of the largest independent producers of natural gas in the United States. As of Dec. 31, 2010, it has approximately 4.5 Tcfe of proved reserves and 15.9 Tcfe of 3P (proved, probable and possible) reserves. New E&P has new, relatively undeveloped acreage positions in the Marcellus Shale and North Dakota's Bakken oil play as well as large, established positions in key Rockies basins, including the Piceance, Powder River, San Juan and Green River. New E&P has positions in the Barnett Shale and Arkoma Basin and, through its controlling 69 percent interest in Apco Oil and Gas International Inc. has significant South American reserves and production in Argentina as well as exploration and production contracts in Colombia.

3:46PM GE Hitachi Nuclear Energy, Lockheed Martin (LMT) sign nuclear industry supply chain agreement (GE) 21.41 -0.05 : The two companies, will join to design and build digital control systems and nuclear reactors. Under the agreement, Lockheed Martin's nuclear systems and solutions division will design and manufacture the main reactor control room systems for GEH's Economic Simplified Boiling Water Reactors.

3:19PM St. Jude Medical pulls back toward the low of yesterday's 52-wk high bar at 46.81 (STJ) 46.83 -0.53 : The stock railed 9 of the previous 11 sessions for a gain of as much as 18.5% off its Feb low. It formed a loss of momentum pattern yesterday and is currently hovering slightly above the low of Tuesday's 52-wk high bar at 46.81 (session low 46.82).

3:03PM Air Products signs new contract to supply industrial gases to Solar Atmospheres (APD) 94.48 +4.26 :

2:45PM Broadway Financial announced that the U.S. Department of the Treasury has consented to exchange its Series D and E preferred stock (BYFC) 2.06 0.00 : Co parent company of Broadway Federal Bank, announced that the U.S. Department of the Treasury has consented to exchange its Series D and E preferred stock in the Company for new common stock valued at a 50% discount to the Preferred Stock aggregate liquidation amount of $15 mln. In addition, the Treasury has consented to exchange the accumulated, unpaid dividends on the Preferred Stock at 100% of the accrued amount.

2:42PM Minor new afternoon bounce highs for Dow +60 and S&P +7.5 -- Nasdaq Comp +20 hovering just under (SPY) :

2:38PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : March corn finished up 2 cents to $6.925, March wheat fell 2.25 cents to close at $8.38, March soybeans fell 2.25 cents to close at $13.6575, Feb ethanol closed down 0.006 at $2.438, while March world sugar futures closed up 0.95 cents to 31.77 cents.

2:38PM Intel pushes to new session high of 21.77 (INTC) 21.76 +0.31 : Its high for the week is at 21.80 with Feb peak and the top of its three week narrowing trade range at 21.86/21.94.

2:35PM Inuvo stated that it is the company's policy not to comment on unusual market activity (INUV) 3.15 +0.51 :

2:35PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled up 67 cents to $84.99, natural gas shed 5.4 cents to end at $3.922, heating oil gained 4.52 cents to finish at $2.7742, while RBOB gasoline closed up 5.09 cents to $2.5397 (all March contracts).

2:30PM Cisco Systems slips to new session/19 month low of 18.56 (CSCO) 18.56 -0.11 :

2:23PM Taseko Mines reports that its Board of Directors has approved plans to proceed with a further capacity increase at the Gibraltar Mine (TGB) 6.04 +0.02 : The Gibraltar Development Plan 3 (GDP3) will include the construction of a 30,000 ton per day concentrator to complement the existing 55,000 ton per day facility currently operating. The additional capacity will increase Gibraltar's annual copper production by approximately 60 mln pounds to 180 mln pounds, at life of mine average grade. Capital costs for GDP3 are expected to be $235 mln for the concentrator and molybdenum plant and approximately $90 mln for mining equipment (all figures reflect 100% project number, Taseko owns 75%).

2:14PM Vivo Participacoes announces public tender offer for common shares (VIV) 33.54 +0.36 : Co announces that on February 16, 2011 co submitted to the SEC the Form 6-K relating to the tender offer by SP Telecomunicacoes LTDA to purchase for cash solely in Brazil all outstanding shares of common stock of Vivo, not already owned by Telefonica (TFONY). SP Telecom is a holding company that controls Telecomunicacoes de Sao Paulo S.A.

1:31PM COMEX Metals Closing Prices (COMDX) : April gold finished up by 60 cents to $1374.70, March silver shed 6.1 cents to end at $30.635, while March copper closed off 6.05 cents to $4.4755.

1:26PM St. Joe Company comments on Fairholme announcement; says co is adamantly opposes Fairholme's efforts to obtain control of co without paying a control premium (JOE) 26.61 +0.12 : "St. Joe adamantly opposes Fairholme's efforts to obtain control of the Company without paying a control premium to all other shareholders. If Fairholme and its President, Bruce Berkowitz, want to take control of St. Joe, they should make an offer to all shareholders to buy it. Since the Fairholme representatives on the St. Joe Board voted to approve the decision to explore financial and strategic alternatives, we believe that Fairholme should support that process by participating in it, rather than seeking to obtain control of the Company through a costly and disruptive proxy contest..."

1:04PM Sprint Nextel extends cooperative purchasing agreement to provide wireless services to state and local governments nationwide (S) 4.52 +0.06 : A national consortium of states (Western States Contracting Alliance ) has again selected Sprint as an approved wireless provider, extending the company's contract to serve as a supplier of wireless products and services to state and local governments across the nation for an additional year. The consortium extended the contract with Sprint through Oct. 31, 2012. This latest contract extension, worth an estimated $360 million, increases the total lifetime value of the contract to $1.4 billion since 2006.

12:52PM Baker Hughes and the Drillers continue to display relative strength (BHI) 69.76 +2.76 : BHI recently hit a new session high of 69.88 leaving it slightly under its early Feb/multi-year high at 69.99 -- HAL +3.9%, NBR +3.1%, DO +2.7%, SLB +1.9%, ATW +1.8%, RIG +1.5%, NE +1.1%.

12:52PM Gold drops back toward flat line while silver moves back into negative territory (COMDX) :

* Gold now up 60 cents to $1374.70
* Silver lower by 11.6 cents to $30.58

12:33PM Crude oil pulling back from highs; now up 60 cents to $84.92 (COMDX) : WTI-Brent spread back at historic levels at -15.80.

12:21PM Stock indices hold at retracements but (SPY) : The recent downside extension saw the three major averages hold at the 62% retracement of the run off yesterday's low (12235 Dow, hit 12234; 1329 S&P hit 1329; 2810 Nasdaq Comp hit 2811). However, unless they can sustain a push back through 12271, 1333 and 2820, respectively, on the lift off the retracements they will remain vulnerable to further short term declines.

12:14PM Relative Sector Performance (TECHX) : The pullback off the highs in the market averages has been relatively broad based (most sectors sliding at same pace). Some relative weakness has been noted in Industrial XLI, Retail XRT, Airline FAA, Rail, Internet FDN (AMZN -1%), Networking IGN.

12:12PM Randgold Resources says its rating in the Environmental Investment Organisation's Carbon Rankings Report was based on incorrect information (GOLD) 78.46 +0.27 :

12:10PM Canadian Natrl Res entered into a partnership with North West Upgrading to move forward with detailed engineering regarding the construction and operation of a bitumen refinery (CNQ) 46.56 +1.42 :

12:09PM Stock indices slip further off this morning's fresh multi-year highs -- Dow +12, S&P +3, Nasdaq Comp +8.7 (SPY) :

12:08PM Gold and silver to fresh highs on heels of dollar index's move to lows (COMDX) :

* Gold now up $6.80 to $1380.90
* Silver higher by 10.9 cents to $30.805

12:00PM Almaden Minerals enters agreement to sell its Elk Gold Deposit, BC (AAU) 4.43 +0.08 : Co announces today it has entered into an Asset Sale Agreement under which Beanstalk Capital will acquire 100% of the Elk gold deposit, British Columbia. Almaden will retain a 2% NSR in the Elk project. Under the terms of the Agreement, Almaden will receive 37 mln common shares of Beanstalk. Upon closing, Almaden will be the largest Beanstalk shareholder at ~58%. Closing of the transaction is expected in the first quarter 2011. As part of the Transaction, Beanstalk will complete a private placement to close concurrently with the Transaction of up to 10 mln units at a purchase price of $0.50 per Unit and up to 3,850,000 common shares in the capital of Beanstalk issued on a flow-through basis pursuant to the Income Tax Act (Canada) at a purchase price of $0.65 per Flow-Through Share for aggregate gross proceeds of up to $7.5 mln or in such other amounts and on such other terms as may be determined by Beanstalk.

11:46AM Sherwin-Williams increases quarterly dividend to $0.365 from $0.36 (SHW) 84.92 +0.33 :

11:37AM Relative Sector Strength (TECHX) : Sectors that have outperformed as the stock indices have edged back off the high include Energy/Commodity amid Dollar weakness -- SLV, GLD, GDX, XLE, OIH, USO.

11:36AM Crude oil rallies close to a full point off of session lows to test highs; now up 85 cents to $85.19 (COMDX) :

11:35AM Stock indices slip further off highs/second level resistances -- Dow +46, S&P +5.9, Nasdaq Comp +16 (SPY) : Some modest slippage over the last half hour (Dow 30 points off peak) after the indices tested and paused near second level resistances noted in The Technical Take (and the 10:31 update) at 1335/1337 S&P (session high 1337), 2820/2828 Nasdaq Comp (session high 2828) and 12295/12305 Dow (session high 12303).

11:32AM streetTRACKS Gold Shares lifts up toward the opening highs as it begins to probe buying back above the $134.00 area again (GLD) 134.27 +0.27 : This group was initially very weak off the open, but it has turned full circle and is how starting to show some renewed strength. (GDX, AEM, GG, GFI, RGLD, KGC, SA, AUY, ABX, IAG, NEM, GOLD, SA)

11:30AM Pullback in dollar index sends gold and silver into positive territory (COMDX) :

* Gold now up $1.60 to $1375.70
* Silver up 0.4 cents to $30.70

11:29AM Caterpillar gaps up to fresh multi-year high of 104.41 but has weakened leaving it back near today's gap bottom at 103.11 -- session low 103.21 (CAT) 130.27 +0.28 :

11:20AM Deere -- Earnings Mover -- Stock continues to give back the bulk of its early gains as it closes in on a gap fill down into yesterday's high here near $94.75 (DE) 94.71 +1.16 : Coming into yesterday's highs here. Gap fill into yesterday's close doesn't come into play until down near the $93.60 area.

11:19AM Crude oil trades into negative territory to notch lows at $84.21; now off 7 cents to $84.25 (COMDX) :

11:01AM Urologix announces grant of 180-Day extension to regain compliance with NASDAQ minimum bid price requirement (ULGX) 0.63 -0.00 :

11:00AM McAfee and Wind River to develop, market and support security solutions for non-PC devices (MFE) 47.91 +0.02 : The co and Wind River announced a strategic agreement to develop, market and support security solutions for non-PC devices, specifically embedded and mobile devices. Together McAfee and Wind River will create comprehensive, purpose-built security solutions specifically designed for these increasingly connected devices or networks of devices.

10:58AM Crude oil gives back inventory-induced gains to move to near unchanged on day; now up 17 cents to $84.49 (COMDX) :

10:42AM Gerova Financial down 20% after reporting last night that Dennis L. Pelino has withdrawn his name from consideration as Chairman and President (GFC) 7.41 -1.89 : Co announced last night that Dennis L. Pelino was appointed as President and Chairman of the board of directors and that he had agreed to accept such appointment subject to confirmation of certain conditions. However, co and Pelino were unable to reach agreement on the terms of his appointment. Pelino withdrew his name from consideration as the Chairman and President of the Company. The Company is actively pursuing other qualified candidates for the above

10:38AM Hertz Global has aquired Ace Rental Cars, the second largest discount car rental company in New Zealand. (HTZ) 16.20 +0.07 : In addition to entering the domestic low cost rental markets in Australia and New Zealand, the acquisition of Ace Rental Cars enables the Hertz group to compete for the business of budget international travelers visiting the Australasian region.

10:31AM Stock indices extend to second level resistances -- Dow +60, S&P +6.8, Nasdaq Comp +16 (SPY) : Recent upside follow through has seen the three major averages extend to second level resistances noted in The Technical Take at 1335/1337 S&P (session high 1335), 2820/2828 Nasdaq Comp (session high 2822) and 12295/12305 Dow (session high 12295).

10:30AM Crude oil trades back toward highs following inventory data; now up 68 cents to $85.00 (OIH) :

10:17AM Yahoo! notches new session/three month high of 17.50, its Nov/10 month high is just above at 17.60 (YHOO) 17.48 +0.28 :

10:14AM New session highs in unison for stock indices -- Dow +55, S&P +6.7, Nasdaq Comp +16 (SPY) : Dow just under last week's multi-year high at 12285 -- session high 12284.

10:06AM Early momentum slows a bit as S&P +4.4 and Dow +37 set new highs, Nasdaq +10 does not confirm, with some slippage noted in recent trade (SPY) :

10:02AM Moody's unit will partner with DelphX (MCO) 30.64 +0.16 : Moody's Analytics announced that it will partner with DelphX, a new global ABS data and trading utility, to make Moody's structured finance deal data and analytics available to DelphX subscribers. Moody's Analytics will also establish a link to connect its users to the DelphX network from Structured Finance Workstation (SFW), Moody's cash flow and valuation platform for structured finance.

10:01AM Huntsman announces $70 mln capacity expansion at Singapore polyetheramines plant (HUN) 18.89 +0.04 : Co announced that it is going ahead with the engineering design for a 40,000-ton capacity expansion program at its facility in Singapore. Huntsman plans to invest more than $70 million at its Jurong Island plant in a move that will more than double the site's manufacturing capabilities, help satisfy increasing global demand for polyetheramines and strengthen the company's leadership position in this technology.

9:53AM Opening Point Gainers/Losers (TECHX) : Point Gainers: FDO (+10.47), CME (+5.11), APD (+3.46), DG (+3.24), DE (+3.23), DLTR (+3.12), AAN (+2.77), NFLX (+2.84), PFCB (+2.31), XEC (+2.14), PXD (+1.96)

Point Losers: SINA (-4.45), AGQ (-3.78), RLOC (-2.90), PAAS (-2.37), ROVI (-2.11), BHP (-2.10), BBL (-1.90), TNGN (-1.81), FXCM (-1.49), FFIV (-1.38)

9:51AM F5 Networks slips back into the red after slightly firmer start (FFIV) 125.10 -1.27 : Stock surged more than 26% off its Jan to to test its 50 sma yesterday off the open. It pulled back and finished in the red Tuesday and this morning it has slipped after a limited push higher off the open. Its 50 ema at 124.50 has provided a support thus far today with its 20 day ema at 123.40.

9:50AM Atlas Energy shareholders approve Merger with Chevron (CVX); merger is expected to close promptly (ATLS) 45.35 +0.19 :

9:44AM SPDR Homebuilders performing well after early housing data (XHB) 18.49 +0.37 : The XHB gapped higher off the open and extended to 18.50 in recent trade leaving it modestly below last week's nine month high of 18.62 -- LEN, MDC, MTH, PHM, SPF, TOL, RYL, DHI, KBH, HD, LOW, MHK, SHW.

9:43AM Gold and silver drop quickly (COMDX) :

* Gold now off $2 to $1372.10
* Silver down 28.6 cents to $30.41

9:43AM Gold issues displaying some early relative weakness right off the open -- GDX, GLD, AEM, GG, GFI, RGLD, GOLD, AUY, KGC, NEM, SA (TECHX) :

9:40AM S&P 500 +4.9 reaches the 100% gain level off its 2007 bear market low at 1333.58 -- session high 1333.75 (SPY) : Dow +44 and Nasdaq +12 solidly bullish but they have yet to reach their weekly/multi-year highs.

9:39AM Wells Fargo showing notable relative weakness; drops ~1.7% off the open on heavy volume vs. a +0.4% move in the financial sector (XLF) (WFC) 33.00 -0.70 :

9:37AM Dow Transports breaks above its Jan peak to confirm the new high in the Dow Industrials (IYT) :

9:35AM iShares FTSE/Xinhua China gaps up to retest this week's high and its 200 sma (FXI) 42.06 +0.26 : The FXI has significantly lagged the S&P since Nov with it dropping nearly 15%. It held last week near the 62% retracement of its May-Nov rally and bouced to its 200 sma Monday. This morning it has retested the weekly high/200 sma at 42.14/42.16 (session high 42.15).

9:32AM Phillips-Van Heusen has licensed Arvind Mills to manufacture apparel and accessories under the IZOD brand in India (PVH) 61.32 +0.18 : Co has licensed Arvind Mills to manufacture and market men's, women's and boys' apparel and accessories under the IZOD brand in India, as well as in the United Arab Emirates, Kuwait, Bahrain, Qatar, Saudi Arabia, Bhutan, Madagascar, Seychelles, Oman, Yemen, Bangladesh, Nepal, Sri Lanka and Maldives. Under the agreement, Arvind, based in Bangalore, India, will have the right to produce and market a wide range of products, including tops, casual pants and shorts, jeans, sweaters and unconstructed blazers, outerwear, and accessories, such as women's handbags and men's and boys' small leather goods. The initial term of the license agreement is through 2019, with renewal options that would extend the term through 2029.

9:31AM Onstream Media announces agreement with Franchise Professionals to create MarketPlace365 for the franchise industry (ONSM) 1.07 -0.01 :

9:29AM Baldwin Technology's CFO, John P. Jordan, to resign, effective immediately (BLD) 1.50 : Jordan's employment with the Company will terminate to allow Jordan to pursue other opportunities outside of Baldwin.

9:28AM Natural gas to lows at $3.925; now lower by 4.6 cents to $3.93 (COMDX) :

9:27AM MCG Capital sells Avenue Broadband for ~$50.4 mln (MCGC) 7.22 : Co announces that Avenue Broadband, a majority-owned, control investment of MCG, has signed a definitive agreement to sell all outstanding shares of its capital stock to Telecommunications Management, a wholly-owned subsidiary of NewWave Communications. After transaction expenses, co's cash proceeds in connection with the exit of this investment are expected to be ~$50.4 mln.

9:26AM Airgas announces repurchase of up to $300 million of its outstanding shares of common stock (ARG) 63.73 :

9:19AM Crude oil ticks to fresh highs at $85.09; now up 70 cents to $85.02 (COMDX) :

9:18AM Cheviot Finl increases quarterly dividend to $0.12 per shar, up from $0.11 per share (CHEV) 8.18 :

9:17AM INX Inc. provides update on Q4 business trends and status of the revenue accounting project; bookings decreased ~2% sequentially (INXI) 7.50 : Co provides certain Q4 financial info, recent business conditions and the status of completing the restatement of previously issued financial statements and becoming current on its SEC filings. Co reports: Product bookings decreased by ~2% sequentially compared to Q3, and increased by ~18% YoY; Product billings decreased by ~19% on a sequential basis and increased by ~11% YoY. Services billings increased by ~9% compared to the third quarter, and increased by ~34% YoY. Through December 31, 2010, the co estimates that it has incurred ~$4 mln of expenses directly related to the Accounting Project. At this time the co anticipates that it will incur ~$2.5 mln of additional expenses in the first quarter ending March 31, 2011 directly related to the Accounting Project. "We are hopeful that we will be able to achieve our goal of becoming current with our SEC filings by March 31, 2011."

9:11AM Discovery Labs prices offering of 10 mln units at a price to the public of $2.35 per unit (DSCO) 2.94 : Co announced that it has priced an underwritten public offering of 10,000,000 units at a price to the public of $2.35 per unit for gross proceeds of $23.5 million. Each unit consists of (i) one share of common stock, (ii) a five-year warrant to purchase 0.50 of a share of common stock and (iii) a fifteen-month warrant to purchase 0.50 of a share of common stock. The shares of common stock and warrants are immediately separable and will be issued separately such that no units will be issued. The five-year warrants are exercisable immediately upon issuance, have a five-year term and an exercise price of $3.20 per share. The fifteen-month warrants are exercisable immediately upon issuance, have a fifteen-month term and an exercise price of $2.94 per share.

9:11AM Albemarle increases the regular quarterly dividend to $0.165 per share from $0.14 (ALB) 57.77 :

9:11AM Landec purchases $15 million of Senior Preferred Shares of Common Shares in Windset Holdings 2010 (LNDC) 6.36 : Co announces that its subsidiary, Apio has purchased $15 mln of Senior Preferred Shares and $201 of Common Shares in Windset Holdings 2010, which represents a 20.1% equity ownership by Apio in Windset. The proceeds from Apio's equity investment, in addition to proceeds raised by Windset from bank financings, will be used by Windset to purchase 221 acres of land in the Santa Maria Valley of California.

9:09AM Abercrombie & Fitch trading +4.5% after beating analyst expectations (ANF) 53.41 : The company reported Q4 (Jan) earnings of $1.38 per share, $0.06 better than the Thomson Reuters consensus of $1.32; revenues rose 22.8% year/year to $1.15 bln vs the $1.14 bln consensus. Comparable store sales increased 13%. "In addition the Company expects to open 30 to 40 international mall-based Hollister stores, primarily in the latter part of the year. The Company expects a minimal number of domestic store openings in 2011. In addition, the Company continues to expect to close approximately 50 domestic stores during Fiscal 2011, primarily at the end of 2011 through natural lease expirations."

9:08AM Potash stocks are trading higher pre-market following bullish inventory data released last night (POT) 183.64 : Last night, POT reported January North American potash inventory data, which showed that inventory supplies at the producer level were tightened again. The company showed that inventories in North America fell by 85,000 tonnes in January, pushing inventory levels 24% below the 5-year average, just ahead of planting season.

Potash names trading higher pre-market includes POT (+1.4%), MOS (+1.1%), and IPI (flat). Other fertilizer names include CF +1.5% and AGU +0.7%

9:08AM Reynolds American declares a 8.2% dividend increase to $0.53 per share (RAI) 33.23 :

9:06AM CAMAC Energy acquires Offshore Nigerian contract rights for $5 mln (CAK) 1.90 : Co announced that on February 15, 2011, it completed the acquisition of the remaining interest held by Allied Energy Plc and certain of its affiliates in a Production Sharing Contract which relates to Oil Mining Leases 120 and 121 granted to Allied by the Federal Republic of Nigeria. CAMAC Energy has now acquired Allied's full interest under the PSC, and has recombined CAMAC Energy's interest in the Oyo Field within OML 120 that it acquired from Allied in April 2010.

9:06AM Silver continues to sell off; now down 15.6 cents to $30.54 (COMDX) :

9:04AM Medtronic: FDA classifies labeling corrections related to occurrence of pocket fills during a SynchroMed Implantable Infusion Pump refill as a Class I Recall (MDT) 39.60 : Co announces that the FDA has classified the corrections being made to product labeling in response to the occurrence of Pocket Fills during a drug refill of a SynchroMed II or SynchroMed EL Implantable Infusion Pump as a Class I recall. A Class I recall is a situation in which there is a reasonable probability that the use of, or exposure to, a violative product will cause serious adverse health consequences or death. This Class I recall is not related to Medtronic external insulin pumps for diabetes. Medtronic is not retrieving the product from the field or recommending the removal of the product in association with its communication to physicians. Co has communicated with the FDA about this issue. No new action is required of patients or physicians beyond what was included in the January 2011.

9:00AM Dice Holdings prices an offering of 7 mln sharesof common stock at $14.25 per share (DHX) 15.45 :

8:59AM NIV IntelliMedia Tech Grp announces entrance into India market with contract for $1.7 million in custom mobile phones (NIV) 2.86 :

8:57AM Noranda Aluminum beats by $0.08, beats on revs (NOR) 15.52 : Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.08 better than the Thomson Reuters consensus of $0.32; revenues rose 50.2% year/year to $344 mln vs the $318.4 mln consensus. At the current forward LME curve the co expects higher LME prices, coupled with the benefits of fully operational integrated upstream assets throughout 2011, to have a favorable impact on its results in 2011. However, the co expects these improvements to be partially offset by inflation in chemicals and carbon-based input materials as well as the impact from fuel adjustment charges in New Madrid's power contract.

8:52AM Reinsurance Group of America purchases 3 mln shares of RGA common stock from MetLife at a price of $61.14 per share on 2/15; co expects to repurchase up to 2.6 mln additional shares of common stock, which may include an accelerated stock repurchase program (RGA) 61.38 :

8:51AM Vitamin Shoppe beats by $0.01, reports revs in-line; reaffirms FY11 outlook; announces mgmt changes, Truesdal promoted to CEO (VSI) 34.26 : Reports Q4 (Dec) earnings of $0.22 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.21; revenues rose 11.0% year/year to $180.3 mln vs the $179.1 mln consensus; Q4 comps +6.5%. Co reaffirms FY11 comps +4-5%. The co also announced executive management promotions which will become effective April 4, 2011. Rick Markee will continue to be Executive Chairman of the co as well as maintain his position as Chairman of the Board, while Anthony Truesdale will assume the role of Chief Executive Officer. Michael Archbold has been named President of the co and will maintain his position as Chief Operating Officer. In addition, Brenda Galgano has been appointed Chief Financial Officer (CFO) and will join the Company April 4, 2011. Ms. Galgano was most recently CFO and Treasurer at the grocer The Great Atlantic & Pacific Tea.

8:50AM Silver drops to its lowest levels of the morning; now off 11.1 cents to $30.585 (COMDX) :

8:45AM Martha Stewart reports EPS in-line, revs in-line (MSO) 3.84 : Reports Q4 (Dec) earnings of $0.07 per share, in-line with the Thomson Reuters consensus of $0.07; revenues fell 17.1% year/year to $72.6 mln vs the $72.1 mln consensus.

8:41AM Progressive reports January results; net premiums +3% YoY (PGR) 20.16 : Co reports the following results for Jan 2011. Net premiums written were $1,375.0, up 3% YoY ; Net premiums earned were $1,395.8, up 5% YoY; Net income was $112.6 up 58% YoY. Per share was up 60% YoY to $0.17.

8:38AM On The Wires (WIRES) :

* USEC (USU) and the U.S. Department of Energy have agreed on a modification to their 2002 agreement that includes milestones related to the deployment of the American Centrifuge uranium enrichment technology. In agreeing to these modifications, DOE recognized the substantial progress that USEC has made to commercially deploy the American Centrifuge, as well as the promise of this U.S. technology and the importance of its deployment.
* Quepasa (QPSA) has launched a redesigned game section to support its strategic focus on social gaming and bringing more culturally relevant social titles to its core users on Quepasa.com.
* CGI Group (GIB) has been selected by SaskPower, an electrical generation, transmission, and distribution utility to provide service desk support through to 2015.

8:36AM Koppers Holdings reports EPS in-line, beats on revs (KOP) 41.39 : Reports Q4 (Dec) earnings of $0.38 per share, in-line with the Thomson Reuters consensus of $0.38; revenues rose 13.9% year/year to $307.8 mln vs the $291.7 mln consensus.

8:34AM AtriCure reports first quarter of positive net income and record adjusted EBITDA (ATRC) 11.25 : Co reports Q4 EPS of $0.00 vs ($0.07) Thomson Reuters consensus; revs rose 19% YoY to $16.4 mln vs $15.52 mln Thomson Reuters consensus. Fourth quarter represents the first quarter the company generated positive net income as well as record adjusted EBITDA, a non-GAAP measure, of $1.0 million. "We are pleased with our record fourth quarter financial results which reflect our focus and commitment to sustained high growth and profitability. During 2010 the AtriCure team executed on our strategic priorities, including the introduction of new products, sales force expansion and FDA approvals... We are also encouraged by our clinical and regulatory progress. During the fourth quarter we filed the final clinical PMA module for our ABLATE clinical trial which we believe positions us to achieve an atrial fibrillation approval during mid-year 2012. Also during the fourth quarter, we initiated enrollment in our DEEP AF clinical trial and we continue to be highly encouraged by this novel approach to treating patients with AF."

8:34AM Amicus Therapeutics announces that additional positive data from the ongoing Phase 2 extension study of Amigal will be presented (FOLD) 6.13 : Co announced that additional positive data from the ongoing Phase 2 extension study of its investigational drug Amigal for Fabry disease will be presented at the Lysosomal Disease Network WORLD Symposium in Las Vegas, Nevada, February 16-18th, 2011. Twenty-six subjects completed either 12 or 24 weeks of treatment with migalastat HCl during the initial Phase 2 studies and 23 subjects enrolled in a separate, long-term extension study designed to evaluate the long-term safety and efficacy of migalastat HCl.

8:34AM Threshold Pharma announces agreement with the FDA on a special protocol assessment for planned Phase 3 TH-302 combination trial in advanced soft tissue sarcoma (THLD) 1.75 : Co announces that the Company reached agreement with the U.S. Food and Drug Administration on a Special Protocol Assessment for a Phase 3 randomized trial of TH-302 in patients with soft tissue sarcoma. This pivotal trial is expected to begin in the middle of 2011, and will enroll patients with metastatic or locally advanced unresectable soft tissue sarcoma who have not previously received chemotherapy outside the adjuvant or neoadjuvant setting. The trial is designed to evaluate the efficacy and safety of TH-302 in combination with doxorubicin, compared to doxorubicin alone.

8:33AM OptionsXpress reports key monthly performance metrics for January 2011: DARTs of 36,300, +7% YoY, +23% higher than December 2010 (OXPS) 16.02 : Co announces monthly performance metrics for January, which included: 1) Retail daily average revenue trades of 36,300 -7% higher than January 2010, 23% higher than Dec 2010; 2) Institutional daily average revenue trades of 12,700 -5% lower than Jan 2010, 30% higher than Dec 2010; 3) Net new customer accounts of 3,100.

8:33AM FirstEnergy misses by $0.05 (FE) 39.20 : Reports Q4 (Dec) earnings of $0.71 per share, $0.05 worse than the Thomson Reuters consensus of $0.76.

8:32AM AutoChina International cancels earn-out provision after 2011, significantly reducing potential dilution to shareholders (AUTC) 20.25 : Co announces that it will be cancelling the earn-out share provision of the share exchange agreement entered into in connection with its initial business combination for fiscal years after 2011. Originally, the Earn-out could cause a maximum of 20% dilution during each of 2012 and 2013 if EBITDA grew 90% or more in each of those years. This amendment eliminates the Earn-out for 2012 and 2013, eliminating the potential dilutive effects of such issuances on AutoChina's currently issued and outstanding shares.

8:31AM Cerus has been granted orphan drug status for plasma prepared with the INTERCEPT Blood System for treatment of thrombotic thrombocytopenic purpura (CERS) 3.38 : Co announces it has been granted orphan drug status for plasma prepared with the INTERCEPT Blood System for treatment of thrombotic thrombocytopenic purpura. (TTP). All secondary efficacy endpoints, comparing time to first remission, relapse rates and plasma exchange volume, were also met. INTERCEPT plasma is currently approved in Europe for use in all indications of plasma for transfusion, including treatment of TTP. TTP is a rare, life-threatening blood disorder that typically requires transfusion with large volumes of plasma.

8:31AM Exceed reports 23% order growth YoY at Autumn 2011 Sales Fair (EDS) 7.94 : Co announces total value of the wholesale orders placed at the co's Autumn collection sales fair grew by approximately 23% over the same sales fair last year.

8:14AM On The Wires (WIRES) :

* Oklahoma Health Care Authority Signed a 7-year $281 mln Medicaid Contract with HP (HPQ).
* Jack Henry & Associates (JKHY) announced that its Symitar division added 20 credit unions to its client roster between July 1, 2010 and December 31, 2010.
* Equinix (EQIX) announced the availability of its Business Continuity Trading Room services in Equinix's NY7 International Business Exchange data center.
* STMicroelectronics (STM) and LifeNexus , announced that STMicroelectronics will produce the iChip microprocessor for the LifeNexus Personal Health Card.
* Texas Instruments (TXN) introduced a serial-controlled, 16-channel constant-current sink LED driver with four-channel grouped delay.
* Kennedy Wilson (KW) announced that the co, along with an affiliate of DRA Advisors and with Kennedy Wilson Property acquired Enclave at Adobe Creek, a 492-unit multifamily community in Petaluma, CA and also joined forces with The LeFrak Organization to purchase a 100% equity interest in Indigo Springs, a 278-unit multifamily community in Kent, WA.

8:07AM E*TRADE reports Jan DARTs +22% from Dec and +5% YoY (ETFC) 17.88 : Daily Average Revenue Trades (DARTs) for January were 180,967, a +22% from December and a +5% YoY. Co ended the month with ~2.7 million brokerage accounts - including gross new brokerage accounts of 37,005 and net new brokerage accounts of 12,504 during the month. Total accounts ended the month at ~4.3 million. Net new brokerage assets were positive $1.2 billion in the month - the highest level since October 2008.

8:06AM Skypeople Fruit Juice launches 'Qian Mei Duo' high-fiber fruit juice beverages; forecasted to contribute $9.0 mln in revs for 2011, with avg gross margins of approx 30% (SPU) 4.64 :

8:06AM Cyanotech: UC Davis research study indicates that Cyanotech's Spirulina Pacifica may counter anemia and declining immune function in persons over age 50 (CYAN) 2.62 : Co announces that researchers at the University of California at Davis have determined that microalgae-based Hawaiian Spirulina Pacifica(R) may improve immune function and ameliorate anemia in persons over 50. Results of the UC Davis study will be published in the March edition of the journal Cellular & Molecular Immunology. Cyanotech produces Hawaiian Spirulina Pacifica, along with other microalgae nutrition supplements.

8:05AM Strategic Hotels & Resorts plans to acquire Four Seasons Jackson Hole and Four Seasons Silicon Valley; issues $50 mln of common equity (BEE) 6.43 : Co announces it has signed a letter agreement to acquire the Four Seasons Jackson Hole and Four Seasons Silicon Valley from The Woodbridge Company in exchange for an aggregate of 15.2 mln shares of common stock at an agreed upon issuance price of $6.25 per share, or an implied valuation of $95.0 mln. The Co also intends to concurrently directly privately place and issue an additional 8.0 mln shares of its common stock to Woodbridge resulting in total gross proceeds of $50.0 mln which will be used to pay down the co's revolving credit facility.

8:03AM NewLead enters into two new long-term time charter contracts (NEWL) 2.62 : The Newlead Compass (72,934 dwt) and the Newlead Compassion (72,782 dwt) have each been chartered-out for a five-year period. The net daily charter-out rate for each vessel will be $11,700 for the first year, $13,650 for the second, third and fourth year and $15,600 for the fifth year. In addition, during the term of the charters, Newlead will have a profit-sharing interest equal to 50% of the actual earnings up to $26,000 per day and 30% above such amount.

8:03AM Dean Foods beats by $0.01, reports revs in-line; guides Q1 EPS below consensus; guides FY11 EPS below consensus (DF) 9.79 : Reports Q4 (Dec) earnings of $0.15 per share, $0.01 better than the Thomson Reuters consensus of $0.14; revenues rose 6.7% year/year to $3.2 bln vs the $3.2 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.05 vs. $0.16 Thomson Reuters consensus. Co issues downside guidance for FY11, sees EPS of $0.55-0.65 vs. $0.78 Thomson Reuters consensus. "While we do not see meaningfully better industry conditions in 2011, we do see more stability returning to important aspects of our business, albeit stability at levels that imply lower earnings in Fresh Dairy Direct-Morningstar going forward..."

8:03AM Constant Contact acquires Bantam Networks for a cash purchase price of $15 mln (CTCT) 29.47 : Co announces the acquisition of Bantam Live. Under the terms of the deal, which closed on February 15, 2011, Constant Contact acquired substantially all of the assets and assumed certain liabilities of Bantam Networks for a cash purchase price of $15 million, subject to certain post-closing adjustments.

8:02AM Seabridge Gold announces that an updated, independent National Instrument 43-101 mineral resource estimate for its KSM project has increased measured and indicated gold resources by 16% to 45.3 mln ounces (SA) 31.45 :

8:02AM Tengion addresses recent trading activity in its common stock; announces it has been engaged in negotiations with a publicly traded co relating to the acquisition of co through a stock-for-stock merger (TNGN) 5.51 : Co announces that it has been engaged in negotiations with a publicly traded company relating to the acquisition of Tengion through a stock-for-stock merger. As a result of the recent increases in the trading price and volume of Tengion's common stock, Tengion's potential acquirer has terminated merger negotiations. As has previously been stated in the Company's filings with the Securities and Exchange Commission, Tengion believes it has sufficient cash to fund its operations into April 2011. If Tengion cannot secure either a sale transaction or alternative financing through partnership or equity investment, Tengion may need to take steps to wind down its operations so as to preserve the value of its assets for the benefit of its creditors and stockholders.

8:02AM Iconix Brand beats by $0.03, beats on revs; reaffirms FY11 EPS guidance, revs guidance (ICON) 19.74 : Reports Q4 (Dec) earnings of $0.33 per share, $0.03 better than the Thomson Reuters consensus of $0.30; revenues rose 33.7% year/year to $88 mln vs the $82.8 mln consensus. Co reaffirms guidance for FY11, sees EPS of $1.53-1.58 vs. $1.59 Thomson Reuters consensus; sees FY11 revs of $340-350 mln vs. $347.90 mln Thomson Reuters consensus.

8:02AM IHS reaffirms FY11 revenue and adjusted EBITDA guidance (IHS) 83.00 -0.11 : Co is reaffirming its 2011 revenue and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) guidance. Co sees FY11 (Nov) revs of $1.21-1.25 bln vs. $1.24 bln Thomson Reuters consensus and all-in adjusted EBITDA in a range of $378 to $388 million.

7:59AM Coinstar announces $50 million accelerated share repurchase (CSTR) 43.69 :

7:39AM Penske Auto beats by $0.06, beats on revs (PAG) 20.15 : Reports Q4 (Dec) earnings of $0.32 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.26; revenues rose 13.5% year/year to $2.77 bln vs the $2.63 bln consensus; +18.9% in the United States; 3.7% Internationally. Total same-store retail revenues increase 9.1%; 13.5% in the United States o 2.0% Internationally. "Our results exceeded my expectations."

7:33AM JMP Group beats by $0.16, beats on revs (JMP) 8.55 : Reports Q4 (Dec) earnings of $0.38 per share, $0.16 better than the Thomson Reuters consensus of $0.22; revenues fell 4.6% year/year to $44 mln vs the $34.6 mln consensus. "While comparing to 2010's record results will present a challenge this year--since we continue to expect a sharp drop-off in loan sale gains--we remain focused on delivering a return of at least 10 percent on adjusted tangible equity, excluding loan sale profits and assuming relative stability in capital markets conditions."

7:33AM Hypercom issues upside Q4 guidance; merger anticipated to close in the second half of 2011 (HYC) 10.66 : Co sees Q4 EPS of $0.18-0.20, ex items, vs $0.15 Thomson Reuters consensus; revs $140 mln vs $129.92 mln Thomson Reuters consensus. The Q4 revs were driven by strong year-over-year growth in Asia-Pacific (63%), Southern EMEA (24%) and the Americas (15%). Fourth quarter 2010 net revenue is expected to be up approximately 12% over third quarter 2010 net revenue of $125 million, with stronger sequential revenue growth from Northern EMEA (25%), Asia-Pacific (15%), and Southern EMEA (12%). On a constant currency basis, net revenue is expected to increase approximately 23% over the prior-year period and approximately 12% over the third quarter 2010. As previously announced, Hypercom has entered into a definitive merger agreement under which VeriFone Systems (PAY) will acquire Hypercom in an all-stock transaction. The transaction is subject to approval by Hypercom stockholders and customary regulatory approvals, and is anticipated to close in the second half of 2011. Hypercom will hold a special meeting of stockholders to vote on approval of the pending merger, which is scheduled to take place at the Company's headquarters on February 24, 2011.

7:32AM On The Wires (WIRES) :

* TASER International (TASR) announced significant follow-on orders of TASER X26 and ADVANCED TASER M26 electronic control devices and related accessories from two international customers.
* Rockwell Medical (RMTI) announced that it has commenced enrollment in its clinical study designed to investigate reduction in the need for erythropoietin stimulating agents in hemodialysis patients receiving Soluble Ferric Pyrophosphate via dialysate.
* Oncolytics Biotech (ONCY) announced that enrollment has begun in a 2-Arm randomized Phase II study of carboplatin, paclitaxel plus REOLYSIN versus carboplatin and paclitaxel alone in the first line treatment of patients with recurrent or metastatic pancreatic cancer.

7:31AM Celgene authorizes up to an additional $1 bln to share repurchase program (CELG) 53.14 : Co announces that the Boardhas authorized the repurchase of up to an additional $1 bln of the co's common stock through December 2012. This authorization is in addition to the $500 mln authorization announced on January 10, 2011. The $500 mln program announced in April of 2009 has been fully utilized.

7:26AM Rogers Comms authorizes repurchase of up to $1.5 billion of stock (RCI) 35.20 :

7:25AM PF Chang's beats by $0.07, reports revs in-line; guides FY11 revs in-line (PFCB) 48.16 : Reports Q4 (Dec) earnings of $0.64 per share, $0.07 better than the Thomson Reuters consensus of $0.57; revenues fell 4.7% year/year to $311.2 mln vs the $312.3 mln consensus. Co issues in-line guidance for FY11, sees FY11 revs of +3-4% to ~$1.28-1.292 bln vs. $1.29 bln Thomson Reuters consensus. Co reports comparable store sales increased 0.1% at the Bistro and 1.3% at Pei Wei. The co expects to experience higher commodity costs and increased labor wage rates during FY11 which will be partially offset with a slight menu price increase at both concepts. Despite these cost pressures, the co anticipates that FY11 restaurant operating margins will increase compared to fiscal 2010, primarily due to lapping the impact of the first quarter 2010 Bistro Happy Hour rollout combined with a higher contribution from Global Brand Development businesses. In addition, the co expects an increase in general and administrative expenses in FY11, primarily related to higher share-based compensation expense.

7:24AM Arbitron beats by $0.06, beats on revs; reaffirms FY11 EPS guidance, revs guidance (ARB) 43.60 : Reports Q4 (Dec) earnings of $0.57 per share, $0.06 better than the Thomson Reuters consensus of $0.51; revenues rose 10.0% year/year to $111.7 mln vs the $109.6 mln consensus. Co reaffirms guidance for FY11, sees EPS of $1.90-2.05 vs. $2.00 Thomson Reuters consensus; reaffimrs FY11 revs growth of 6%-8% YoY, which calculates to roughly $419.1-427 mln vs. $422.99 mln Thomson Reuters consensus.

7:23AM Comcast increases its dividend 19%; planned at $0.45 per share annually (CMCSA) 24.16 :

7:22AM Rogers Comms increases annualized dividend 11% to $1.42 effective immediately (RCI) 35.20 :

7:21AM Fundtech beats by $0.02, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY11 EPS in-line, revs above consensus (FNDT) 18.46 : Reports Q4 (Dec) earnings of $0.29 per share, $0.02 better than the Thomson Reuters consensus of $0.27; revenues rose 15.2% year/year to $37.8 mln vs the $36.5 mln consensus. Co issues guidance for Q1, sees EPS of $0.17-0.21 vs. $0.22 Thomson Reuters consensus; sees Q1 revs of $36-37 mln vs. $35.98 mln Thomson Reuters consensus. Co issues guidance for FY11, sees EPS of $1.00-1.10 vs. $1.05 Thomson Reuters consensus; sees FY11 revs of $154-159 mln vs. $154.00 mln Thomson Reuters consensus.

7:19AM LCA Vision misses by $0.01, beats on revs (LCAV) 7.21 : Reports Q4 (Dec) loss of $0.39 per share, $0.01 worse than the Thomson Reuters consensus of ($0.38); revenues fell 12.3% year/year to $19.3 mln vs the $18.6 mln consensus. "For the fourth quarter, we reported a YoY increase in same-store procedures of more than 6% - the first increase since the fourth quarter of 2006. We attribute this growth to acceptance of our 'Life in Focus' marketing campaign, improved operational metrics, a greater willingness of patients to spend on vision correction services and a discount promotion that expired at year-end. Although the December promotion expiration adversely impacted procedure volume in early 2011 as some patients accelerated their procedure dates to take advantage of the discount, we have been gaining some momentum as the first quarter continues."

7:16AM Borders Group confirms filing for reorganization relief under Chapter 11 (BGP) 0.23 : Co releases the following statement: "It has become increasingly clear that in light of the environment of curtailed customer spending, our ongoing discussions with publishers and other vendor related parties, and the company's lack of liquidity, Borders Group does not have the capital resources it needs to be a viable competitor and which are essential for it to move forward with its business strategy to reposition itself successfully for the long term.... In this regard, operating under Chapter 11, Borders has received commitments for $505 million in Debtor-in-Possession (DIP) financing led by GE Capital, Restructuring Finance."

7:14AM OfficeMax beats by $0.05, misses on revs (OMX) 17.07 : Reports Q4 (Dec) earnings of $0.16 per share, $0.05 better than the Thomson Reuters consensus of $0.11; revenues fell 2.4% year/year to $1.77 bln vs the $1.79 bln consensus. Co anticipates that for Q1, total co sales will be lower than the prior year's first qtr, including the favorable impact of foreign currency translation, and the adjusted operating income margin rate will be significantly lower than the prior year's first qtr. For the full year 2011, OMX anticipates that total co sales will be flat, to slightly higher than, 2010, including the favorable impact of foreign currency translation and the benefit of a 53rd week, and the adjusted operating income margin rate will be in line with, to slightly lower than, the prior yr.

7:13AM On The Wires (WIRES) :

* Reed's (REED) announced that it has reached a distribution agreement with SPIKE Beverage. Under the agreement, SPIKE has agreed to begin distributing Reed's and Virgil's brands in all retail channels, large and small.
* Garmin International, a unit of Garmin (GRMN), announced that Chaparral Boats has selected Garmin to be the exclusive electronics supplier to outfit their broad mix of award-winning recreational pleasure boats stretching from 18-foot bowriders to 42-foot luxury cruisers.
* Covidien (COV) announced 510(k) clearance from the U.S. Food and Drug Administration for the LigaSure Curved, Small Jaw, Open Sealer/Divider surgical instrument.
* Numerex Corp (NMRX) announced that FEMA had renewed its contract with the QinetiQ-led group, in which Numerex plays a critical role, to support FEMA's disaster operations.

7:11AM Genzyme misses by $0.04, misses on revs; GENZ will be acuired by SNY for $74 plus contingent value right (GENZ) 74.30 : Reports Q4 (Dec) earnings of $0.82 per share, excluding non-recurring items, $0.04 worse than the Thomson Reuters consensus of $0.86; revenues rose 22.8% year/year to $1.15 bln vs the $1.17 bln consensus. Record rev in the fourth quarter shows strength across each of Genzyme's businesses. In 2011, the company expects double-digit revenue growth, driven primarily by Cerezyme and Fabrazyme. In addition, Genzyme expects strong growth from its Pompe disease treatments Myozyme (alglucosidase alfa) and Lumizyme (alglucosidase alfa); its viscosupplement treatments Synvisc (hylan G-F 20) and Synvisc-One(R) (hylan G-F 20); and its Hematology and Oncology business. Fourth-quarter sales of Cerezyme were $222.0 mln compared with $105.4 mln in the same period in 2009 vs consensus of $235 mln.

7:08AM Deere beats by $0.21, misses on revs (DE) 93.62 : Reports Q1 (Jan) earnings of $1.20 per share, $0.21 better than the Thomson Reuters consensus of $0.99; revenues rose 30.1% year/year to $5.51 bln vs the $5.67 bln consensus. Company equipment sales are projected to be up 18-20% for FY11 and up about 25% for Q2 compared with the same periods of the previous year. Net income attributable to Deere & Company is anticipated to be ~$2.5 bln for FY11 vs the $2.33 bln consensus. Worldwide sales of agriculture and turf equipment are forecast to increase by about 16 percent for full-year 2011, benefiting from favorable global farm conditions.

7:03AM China Gengsheng Minerals awarded $10.5 mln fracture proppant export contract (CHGS) 3.04 : Co announces that it has been awarded $10.5 million a follow-on contract for its fracture proppants from a China-based distributor specializing in sales to overseas oil and gas companies. GengSheng will begin shipments to this customer in February 2011 and expects to supply ~27,000 tons of proppant products over a six-month period.

7:02AM Altair Nanotechnologies announces extension of share subscription agreement with Canon Investment Holdings; Canon agrees to acquire newly issued shares of ALTI common stock resulting in a 51% ownership immediately upon the closing (ALTI) 2.83 : Co announces the co and Canon Investment Holdings Limited have entered into a First Amendment to Share Subscription Agreement to the Share Subscription Agreement dated September 20, 2010 between co and Canon. Pursuant to the terms of the Agreement and the Amendment, Canon has agreed to acquire newly issued shares of co's common stock resulting in a 51% ownership immediately upon the closing.

7:02AM Flushing Fin John Roe elected Chairman of the Board co and Flushing Savings Bank effective Feb 16 (FFIC) 14.71 : Co, the parent holding co for Flushing Savings Bank announces John E. Roe, Sr. has been elected Chairman of the Board of the co and the Bank, effective February 16, 2011. He has been a member of the Board of Directors of the co since its formation in 1994 and of the Bank since 1968.

7:00AM PDL BioPharma and MedImmune Resolve Patent Disputes; PDL to pay MedImmune $92.5 Million (PDLI) 5.44 : Co announces that PDL and MedImmune, LLC have entered into a definitive settlement agreement that resolves all legal disputes between them, including those relating to MedImmune's product Synagis and PDL's patents known as the Queen et al. patents. Under the settlement agreement, PDL paid MedImmune $65 million on February 15, 2011 and will pay $27.5 million by February 10, 2012 for a total of $92.5 million. MedImmune has not paid royalties to PDL on sales of Synagis that occurred after September 30, 2009. No further payments will be owed by MedImmune to PDL under its license to the Queen et al. patents as a result of past or future Synagis sales. As part of the settlement agreement, MedImmune has agreed not to challenge or assist other parties in challenging the Queen et al. patents.

6:31AM On The Wires (WIRES) :

* Trimble (TRMB) announced that it has been selected as a preferred distributor for the new Tekla BIMSight 3D Modeling.
* Vical (VICL) announced the issuance of U.S. Patent covering DNA vaccines for cytomegalovirus containing specific gene sequences and formulated with Vical's Vaxfectin adjuvant.

6:24AM On The Wires (WIRES) :

* Western Union (WU) announced that they have agreed to introduce the Western Union Mobile Money Transfer service in the 18 countries where Etisalat operates.
* Maxim (MXIM) introduced sampling of the MAX2550-MAX2552, a family of multiband transceivers specifically designed for a new range of dongle, module, and stand-alone femto base stations.
* Agilent (A) announced that they have entered into a licensing agreement with Qualcomm (QCOM) for factory test technology.
* PCTEL (PCTI) announced the expansion of its SeeGull MX product to support international bands and 15/20 MHz bandwidths.
* NextGen Healthcare Information Systems, a wholly owned subsidiary of Quality Systems (QSII) announced that Memorial Medical Center, Neillsville, WI, is the latest in a growing number of healthcare organizations to select NextGen Inpatient Clinicals, NextGen Inpatient Financials and NextGen Ambulatory EHR to create a seamless technology platform across its continuum of care.

6:23AM On The Wires (WIRES) :

* Aquila Resources announced that it has completed a C$2 million private placement of common shares with HudBay Minerals (HBM) pursuant to the previously announced Exploration Alliance Agreement with HudBay.
* The Company also announced that it has acquired and commenced exploration on a mineral property that will be included in the Exploration Alliance with HudBay and initially funded by HudBay. Virgin Media (VMED) announced its senior lenders have unanimously approved the proposed amendments in relation to its Senior Credit Facilities Agreement dated 16 March 2010, and as amended and restated on 26 March 2010 and 15 February 2011.
* Caterpillar (CAT) announced it has reached an agreement to sell Carter Machinery Company Inc.
* Integra LifeSciences (IART) announced the launch of Trel-XPress Demineralized Bone Matrix, expanding its portfolio of bone grafting substitutes for the orthopedic extremity reconstruction surgeon.
* BB&T (BBT) announced the launch of the BB&T MoneyAccount which is a prepaid transaction account, featuring a Visa (V) -branded debit card.
* Integra LifeSciences (IART) announced the launch of Trel-XPress Demineralized Bone Matrix, expanding its portfolio of bone grafting substitutes for the orthopedic extremity reconstruction surgeon.

6:20AM Devon Energy beats by $0.16, misses on revs (DVN) 88.10 : Reports Q4 (Dec) earnings of $1.57 per share, excluding non-recurring items, $0.16 better than the Thomson Reuters consensus of $1.41; revenues fell 12.7% year/year to $2.13 bln vs the $2.33 bln consensus. "2010 was an outstanding year for Devon. The company's record earnings were accompanied by excellent operating results and the successful execution of our strategic repositioning. Our focused North American onshore capital program helped grow proved reserves to an all-time record of 2.9 billion equivalent barrels, and we are nearing completion of our strategic repositioning with total asset sales of more than $10 billion."

6:09AM Natl Hlth Investors promote CCO Justin Hutchens to CEO (NHI) 46.00 : Co announces that pursuant to its previously disclosed succession plan, Justin Hutchens, the co's President and COO, has been appointed CEO, effective March 1, 2011. Andrew Adams will remain Chairman.

6:07AM Donaldson beats by $0.01, beats on revs; guides FY11 EPS in-line, revs in-line (DCI) 61.78 : Reports Q2 (Jan) earnings of $0.56 per share, $0.01 better than the Thomson Reuters consensus of $0.55; revenues rose 23.2% year/year to $537 mln vs the $530 mln consensus. Co issues in-line guidance for FY11, sees EPS of $2.57-2.77 vs. $2.73 Thomson Reuters consensus; sees FY11 revs of +18-20% to ~$2.21-2.25 bln vs. $2.23 bln Thomson Reuters consensus. Co sees full year operating margin is forecasted to be 13.0-13.8%. Capital spending is estimated to be between $70-80 mln.

6:07AM Cimarex beats by $0.05, beats on revs (XEC) 107.10 : Reports Q4 (Dec) earnings of $1.58 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $1.53; revenues rose 24.1% year/year to $408 mln vs the $400 mln consensus. Year-end 2010 proved reserves grew 23% to 1.88 trillion cubic feet equivalent (Tcfe), up from 1.53 Tcfe at year-end 2009. Proved reserves are 77% developed for both year-end 2010 and year-end 2009. First-quarter 2011 production is projected to range between 582-602 MMcfe/d, which has been negatively impacted by 10-15 MMcfe/d from weather related down time. "Full-year 2011 production is projected to be in the range of 615-645 MMcfe/d. Full-year 2011 exploration and development (E&D) capital investment is expected to be principally funded from cash flow. At the present time, based on current market prices and service costs, we would expect that 2011 capital expenditures may range from $1.2-$1.4 billion. We have a large inventory of drilling opportunities and limited lease expirations."

4:03AM Alexco Resources reports new Keno Hill silver discovery (AXU) 7.37 : Co announces results from 2010 core drilling at its Flame & Moth property, within the Keno Hill Silver District. This new discovery is a "blind" discovery, the result of a district-wide structural geology study, and is located at depth adjacent to the recently constructed Keno District mill. To date, 13 holes have intersected the northeast-trending Flame & Moth structure over a strike length of ~400 meters centered on the current mill site and down dip 300 meters below surface. Based on these encouraging results, the Flame & Moth area, along with the Bermingham area on Galena Hill is considered a primary exploration target for co at Keno Hill in 2011.

2:58AM On The Wires (WIRES) :

* NXP Semiconductors (NXPI) and ZTE announced a partnership to incorporate NXP's Near Field Communications PN544 technology into ZTE handsets.
* Smith Micro Software (SMSI) announced the expansion of its global footprint through an agreement with Telecom New Zealand, the largest telecommunications service provider in New Zealand.
* The Vermont Department of Taxes today announced the launch of a dynamic new electronic service for filing property transfer tax returns online through NIC (EGOV).
* Halozyme Therapeutics (HALO) and Roche (RHHBY) announced the first patient received subcutaneous MabThera, an anticancer biologic, in a Phase 3 registration trial using Enhanze. Initiation of the clinical trial has triggered a milestone payment of $5 mln to HALO.
* Glu Mobile (GLUU) announced games developed for the Sony Ericsson Xperia Play.

2:51AM Volvo reports Jan Truck deliveries of 15,277, up 62% YoY (VOLVY) 17.09 :

2:35AM Ampal-American Israel's 12.5% interest EMG expects supply to return to Israel later this month (AMPL) 2.14 : Co announces that the gas supply to East Mediterranean Gas and therefore to EMG's Israeli Clients, is expected to resume later this month. Co has a 12.5% interest in EMG. The Egyptian National Gas Co informed EMG that the delay is to due to a hold-up in repair work on a GASCO pipeline.

2:24AM Euronet beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs in-line (EEFT) 19.25 : Reports Q4 (Dec) earnings of $0.40 per share, $0.01 better than the Thomson Reuters consensus of $0.39; revenues fell 0.6% year/year to $283.8 mln vs the $284.6 mln consensus. Co reports transactions of 475 mln, compared to 396 mln for the fourth quarter 2009. Co issues mixed guidance for Q1, sees EPS of ~$0.31 vs. $0.32 Thomson Reuters consensus; sees Q1 revs of down ~5-10% from Q4 revs to ~$255.4-269.6 mln vs. $262.71 mln Thomson Reuters consensus. Expectations for the first quarter 2011 reflect lower transaction fees in Germany and a seasonal reduction in transactions following the higher transaction levels during the fourth quarter holiday season. Co estimates that each of the co's three business segments' overall revenue will be ~5% to 10% lower during the first quarter of each year compared to the fourth quarter of the previous year, reflecting normal seasonality.

1:59AM Genzyme: Sanofi-aventis (SNY) to acquire GENZ for $74.00 in cash per share plus contingent value right (GENZ) 74.30 : SNY and GENZ announce they have entered into a definitive agreement under which SNE is to acquire GENZ for $74.00 per share in cash, or ~$20.1 bln. In addition to the cash payment, each GENZ shareholder will receive one Contingent Value Right for each share they own, entitling the holder to receive additional cash payments if specified milestones related to Lemtrada are achieved over time or a milestone related to production volumes in 2011 for Cerezyme and Fabrazyme is achieved. If all the milestones are achieved, it can represent up to an additional $14 per share to shareholders. The transaction, which has been unanimously approved by the Boards of both cos, is expected to close early in the second quarter of 2011. The acquisition is expected to be accretive to sanofi-aventis' Business Net earnings per share in the first year following closing, and accretive to Business Net earnings per share in the range of EUR0.75 -1.00 by 2013.

1:43AM Northgate Minerals updates resource estimate for Kemess Underground; contains 2.6 mln ounces of gold, 860.6 mln pounds of copper (NXG) 2.85 : Co announces and NI 43-101 compliant resource estimate for the Kemess Underground Project. Co states Indicated Resource of 136.5 mln tonnes containing 2.6 mln ounces of gold and 860.6 mlnpounds of copper. Co Identified a 10.3 Mt, high-grade sector of the overall resource containing 450,000 ounces of gold and 119 mln pounds of copper grading 1.35 grams per tonne gold and 0.52% copper, respectively. Additionally, co has engaged AMC Mining Consultants to complete technical studies, which will be incorporated into a NI 43-101 compliant Preliminary Assessment.

1:41AM St. Joe Company adopts shareholder rights plan (JOE) 26.49 : Co announces its Board has has adopted a shareholder rights plan. The plan enables the co to conduct an orderly, thorough and deliberative process of exploring the co's financial and strategic alternatives. The rights plan was designed to include certain provisions that are important to shareholders. In particular, the rights plan will not apply to any fully-financed tender offer that is made to all shareholders and that meets certain other criteria. The rights will expire unless the rights plan is approved by a vote of the shareholders on or before December 31, 2011.

1:39AM Hecla Mining postpones 4Q10 results and webcast due to ongoing settlement negotiations regarding the CERCLA litigation (HL) 10.15 : Co announces it has postponed the release of its Q4 results and expects to release its results on or before February 28, 2011. The co has decided to postpone the release of its fourth quarter results due to ongoing settlement negotiations regarding the CERCLA litigation involving its subsidiary and historic mining activity in the Coeur d'Alene basin in north Idaho. This does not result from any disagreement with Hecla's auditors or any accounting or financial irregularity.

1:33AM Family Dollar confirms receipt of unsolicited conditional proposal from Trian Group in the range of $55-60 (FDO) 43.96 :

1:31AM Headwaters commences tender offer and related consent solicitation for its 11-3/8% Senior Secured Notes due 2014 (HW) 5.20 : Co announces it has commenced a cash tender offer for any and all of its outstanding 11-3/8% Senior Secured Notes due 2014. As of February 15, 2011, there was ~$328.3 mln aggregate principal amount of Notes outstanding.

1:29AM Key Energy provides January 2011 activity data; total rig hours +15% YoY, +6.2% sequentially (KEG) 13.11 : Co announces January 2011 activity data. Thus far in February, co estimates that weather has negatively impacted U.S. activity by 5-6% compared to January's activity level. Meanwhile, international activity continued to improve in January, driven primarily from increases in Mexico and Colombia.

* US rig hours inceased +5.4% MoM, +22.2% YoY
* International rig hours +9.1% MoM, -5.7% YoY
* Total Rig hours +6.2% MoM, +15.0% YoY.
* Total trucking hours -1.1% MoM, +60.2% YoY
* Utilization 62% vs 60% in Dec

1:18AM Pan Am Silver provides year-end 2010 reserve & resource update; year end proven & probable reserves at 230.7 ounces (PAAS) 36.53 : Co announces the results of its 2010 exploration programs and provided its 2010 year-end Silver Reserves and Resources update. In 2010, co spent $8.5 mln to complete over 110,000 meters of diamond drilling at its seven operating mines. As a result of this investment in exploration, 27.0 mln ounces of Silver was discovered and added to Proven and Probable Reserves, which was nearly sufficient to fully replace the 28.3 mln contained Silver ounces mined during 2010. The co entered 2011 with Proven and Probable Silver Reserves of 230.7 mln ounces, after including a reclassification from Reserves to Resources of the 1.9 mln ounces contained in the Pyrite stockpiles.

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