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Market Update 110222

4:30 pm : Intense selling sent the S&P 500 to its worst single-session loss in six months as participants pared risk amid rising social and political tension in the Middle East and Northern Africa.

Ongoing protests and social unrest in Libya prompted the country's leader, Gaddafi, to threaten suspension of oil supplies from his country, which boasts the biggest oil reserve in Africa. Gaddafi was also defiant in the face of calls for him to step down as dictator.

Asia's major averages led an overnight sell-off that saw the Shanghai Composite drop 2.6%, the Hang Seng slide 2.1%, and the Nikkei tumble 1.8%. News that Moody's lowered its outlook on Japan to Negative darkened the tone of trade.

The overnight slide combined with concern about volatility related to rising geopolitical risk abroad stirred U.S. participants to slash their stock holdings. At first, their efforts took stocks down about 1%, but as has been the case in previous sessions some stepped in to provide support and bid up the dip. A February Consumer Confidence Index reading of 70.4, which exceeded the Briefing.com consensus of 67.0 to set a near three-year high, aided the effort.

However, in contrast to previous sessions, sellers redoubled their efforts after stocks failed to extend their morning rebound. Persistent pressure took the S&P 500 to its first 2% loss since last August.

More than 90% of the stocks in the S&P 500 ended the day in the red. The bleeding brought in plenty of participants, who sent share volume well above 1 billion on the NYSE. Among the major sectors, materials were hit the hardest. As a group, materials stocks dove to a 3.1% loss. Energy had been resilient in the early going, but weakness inevitably bled into the space as the broad market buckled. Energy stocks had been up as much as 1.5%, but ended the day with a 0.7% loss.

Early strength in the energy sector was predominately underpinned by a spike in oil prices. April crude oil finished 6% higher at $95.32 per barrel. Elsewhere in the commodity space, safety seekers sent April gold up 0.9% to $1401.10 per ounce and silver 2% higher to $32.86 per ounce. Silver prices had actually set a new 30-year high above $34 per ounce in the early morning.

Treasuries also benefited from an interest in safety, despite lackluster results from an auction of 2-Year Notes. The auction drew a bid-to-cover of 3.03 for dollar demand of $106.1 billion, and an indirect bidder participation rate of 31.2%.

The dollar did little today. It had been flat in morning trade, but mustered a gain of merely 0.2% by the end of the day.

Corporate news had no real impact on overall trade. The spike in volatility -- the Volatility Index was up about 30% at its high -- caused many to shrug off earnings from Dow components Home Depot (HD 38.09, -0.39) and Wal-Mart (WMT 53.67, -1.71). Both bested what Wall Street had expected for the bottom line, but HD complemented its report with increased guidance and an increased dividend.

Advancing Sectors: (None)
Declining Sectors: Materials (-3.2%), Financial (-3.1%), Industrials (-2.9%), Tech (-2.6%), Consumer Discretionary (-2.4%), Telecom (-1.7%), Health Care (-1.5%), Energy (-0.7%), Consumer Staples (-0.7%), Utilities (-0.3%)DJ30 -178.46 NASDAQ -77.53 NQ100 -2.9% R2K -2.6% SP400 -2.4% SP500 -27.57 NASDAQ Adv/Vol/Dec 374/2.12 bln/2306 NYSE Adv/Vol/Dec 359/1.11 bln/2701

3:30 pm : Commodities finished mixed on the session, with sizeable moves in both directions. Grains shed -5.4% to lead all decliners, while energy rallied for 2.8% to lead all advancers. Tensions in the Middle East factored in the direction of trade in numerous commodities.

May wheat shed 7% to close at $7.96 per bushel, May soybeans dropped 5.1% to end at $13.11 per bushel, while May corn settled lower by 4.2% to $6.90 per bushel. Prices were helped lower by a flight to safer asset classes amidst all the uncertainty surrounding events in the Middle East.

April crude oil finished higher by 6% to $95.32 per barrel. Again, concerns about the unrest in OPEC-member Libya and fears that protests could spread to other oil producing countries, supported prices throughout the session. Prices did, however, finish well below its overnight highs at $98.48. March natural gas shed 0.1% to finish at $3.87 per MMBtu.

A flight to safety helped precious metals finish higher today. April gold ended up 0.9% to $1401.10 per ounce, while March silver rallied for 2% to finish at $32.86 per ounce. DJ30 -211.72 NASDAQ -78.92 SP500 -30.38 NASDAQ Adv/Vol/Dec 400/1.8 bln/2271 NYSE Adv/Vol/Dec 939/907.4 mln/2641

3:00 pm : Only an hour remains in the session and sellers are showing few signs of letting up. Amid the wreckage, about 94% of the issues in the S&P 500 are in the red.

Expedia (EXPD 50.5, -4.33) and NVIDIA (NVDA 23.63, -2.02) are in the worst shape of any name in the S&P 500. Both stocks are down almost 8%. In contrast, V.F. Corp (VFC 98.65, +8.85) is this session's best performer; it currently boasts a gain of almost 10% after the firm posted an upside earnings surprise and issued upside guidance.

The list of companies scheduled to report earnings tonight isn't very lengthy, but it isn't that short either. Among the more familiar names, Hewlett-Packard (HPQ 48.06, -0.61), Hertz (HTZ 15.32, -0.59) and Radio Shack (RSH 15.41, -0.29) are scheduled to report after the close. DJ30 -167.79 NASDAQ -67.32 SP500 -25.56 NASDAQ Adv/Vol/Dec 412/1.65 bln/2248 NYSE Adv/Vol/Dec 404/840 mln/2612

2:30 pm : Stocks are drifting sideways along session lows. Buyers haven't shown any real sign of life since they stepped in during the first hour to bid up the broad market's dip and help trim losses. Such efforts proved futile, though, as sellers quickly redoubled their efforts. As things now stand, stocks are headed for their worst single-session slide since a 2.8% drop in August.

That kind of concerted selling effort has sent expectations for volatility up sharply. Specifically, the Volatility Index is currently up 27%. DJ30 -164.84 NASDAQ -67.10 SP500 -25.00 NASDAQ Adv/Vol/Dec 388/1.54 bln/2273 NYSE Adv/Vol/Dec 355/781 mln/2666

2:00 pm : Persistent pressure has kept stocks stuck at session lows. Financials are now off by 3.0%, which makes for the sector's worst single-session slide since a 3.6% drop in mid-August.

Energy continues to trade with a relatively modest loss of just 0.5%, but that is still well below the 1.5% gain it had sported at its session high. DJ30 -172.18 NASDAQ -68.79 SP500 -25.71 NASDAQ Adv/Vol/Dec 407/1.42 bln/2246 NYSE Adv/Vol/Dec 356/720 mln/2652

1:30 pm : Stocks continue to descend deeper into negative territory. In turn, the stock market is now down 2.0%.

Treasuries made a brief pullback in recent trade, but buying has been rekindled amid the stock market's latest leg lower. The brief slip that recently hit Treasuries followed results from an auction of 2-Year Notes that were released at 1:00 PM ET.

The auction drew a bid-to-cover of 3.03 for dollar demand of $106.1 billion, and an indirect bidder participation rate of 31.2%. For comparison, the prior auction pulled a bid-to-cover of 3.47, dollar demand of $121.5 billion, and an indirect bidder participation rate of 27.0%. An average of the past four auctions results in a bid-to-cover of 3.58, dollar demand of $125.2 billion, and an indirect bidder participation rate of 32.0%.DJ30 -172.18 NASDAQ -69.02 SP500 -25.99 NASDAQ Adv/Vol/Dec 419/1.31 bln/2228 NYSE Adv/Vol/Dec 373/665 mln/2609

1:00 pm : More than 90% of the names in the S&P 500 are in the red as participants react to ongoing social unrest in the Middle East and threats from Libya's leader.

In the face of protests in North Africa and the Middle East, Libyan dictator Gadhafi threatened to suspend oil supplies from the country, which boasts the biggest oil reserve in Africa. That scared participants of Asia's major averages, which all fell around 2% overnight. Moody's decision to downgrade its outlook on Japan to Negative certainly didn't help the tone of trade there.

Europe's major bourses were also hit with some selling, but losses there were varied since they had already endured sizable losses in the prior session.

While widespread weakness and the inclination to pare risk took the major domestic averages down to deep loses in the early going, some stepped in to provide support. Stocks started to slash losses and were even helped by a stronger-than-expected Consumer Confidence Index, which hit a near three-year high of 70.4.

However, sellers redoubled their efforts after the S&P 500 failed to break above the 1335 and Gadhafi began a speech that indicated he has no intention of resigning from his position. Stocks are now at a session low.

The stock market's backslide has even dragged down the energy sector to a 0.5% loss after it was up as much as 1.5% earlier this morning. Energy's strength stemmed from a spike in oil prices, which actually cleared $94 per barrel in electronic trade. The energy component has since pulled back to trade with a 5.7% gain at $91.25 per barrel.

The subsequent sell off has further stoked volatility, such that the VIX is up almost 25% after it was at a multi-year low just last week. With volatility up and stocks in weak shape, precious metals have performed well. However, both gold and silver are off of their session highs. Still, gold prices are up 0.6% at $1397 per ounce while silver prices are up 1.7% at $33.85 per ounce.

Treasuries are up nicely, too. In turn, the yield on the benchmark 10-year Note is several basis points below 3.50%.

The dollar hasn't caught much of a bid, though. It is up only fractionally against a collection of competing currencies.

Dow components Home Depot (HD 38.19, -0.29) and Wal-Mart (WMT 53.18, -2.20) headlined the latest list of earnings announcements. Both posted upside earnings surprises, but their reports have been lost in the frenzy of this session's sell off. DJ30 -165.63 NASDAQ -69.67 SP500 -25.13 NASDAQ Adv/Vol/Dec 440/1.17 bln/2182 NYSE Adv/Vol/Dec 391/592 mln/2598

12:30 pm : Stocks are sitting at session lows as more than 90% of the names in the S&P 500 reside in the red. Such widespread weakness has begun to bleed into the tech sector, which has pulled back to a 0.2% gain after it had been up as much as 1.5%.

Volatility has intensified with the stock market's latest leg lower. In turn, the Volatility Index is now up more than 20%, which makes for the second sharpest single-session spike in the past six months. The sharpest spike was a 24% climb less than a month ago. DJ30 -113.90 NASDAQ -52.73 SP500 -18.63 NASDAQ Adv/Vol/Dec 485/1.03 bln/2122 NYSE Adv/Vol/Dec 461/419 mln/2484

12:00 pm : Stocks have extended their recent downturn so that the S&P 500 is now at a fresh session low. The backslide comes in the wake of comments from Libya's Gadhafi, who has stated that he has no intentions of resigning his leadership role.

Although weakness is widespread, financials have been hit the hardest this session. The sector has fallen to a 2.4% loss. Within the sector, banks and diversified financial services plays are in the worst shape -- both groups are down in excess of 3%.

As for energy, it continues to trade in positive territory. However, the sector's 0.5% gain is only a third of what it had sported at its session high. DJ30 -107.05 NASDAQ -49.64 SP500 -17.18 NASDAQ Adv/Vol/Dec 488/905 mln/2098 NYSE Adv/Vol/Dec 509/449 mln/2420

11:30 am : Renewed selling has taken the stock market below its recent trading range. The S&P 500 is now down more than 1%, but the Dow has managed to limit its loss to less than that. The Dow's relative strength stems from an impressive gain by integrated oil and gas play Chevron (CVX 101.17, +2.45), which set a fresh 52-week high in the face of this session's overall weakness.

The rest of the energy sector has pulled back along with the broader market, however. Energy stocks had been up about 1.5% at their session high, but the sector now trades with a 0.9% gain. Oil prices are still up 6.5% at $91.75 per barrel. DJ30 -94.30 NASDAQ -47.90 SP500 -15.24 NASDAQ Adv/Vol/Dec 502/770 mln/2070 NYSE Adv/Vol/Dec 534/382 mln/2397

11:00 am : The S&P 500 has spent the past hour chopping along in the 1332 to 1335 zone. Although things have become more settled since overnight trade, the Volatility Index is still up more than 12% today. Expectations for higher volatility have been underpinned by ongoing social unrest in the Middle East region. As an aside, the VIX was at a multi-year low just last week.

Treasuries have started to reclaim overnight gains. In turn, the benchmark 10-year Note is now up more than 20 ticks so that its yield is just below 3.50%. DJ30 -64.67 NASDAQ -31.29 SP500 -10.45 NASDAQ Adv/Vol/Dec 606/630 mln/1921 NYSE Adv/Vol/Dec 681/320 mln/2192

10:30 am : The crisis in Libya is currently keeping energy markets higher this morning, excluding natural gas. Despite a notable pull-back in crude oil (continuous contract), the energy component is still 6.4% higher at $91.75 per barrel.

March natural gas fell into negative territory shortly after the open of pit trade, hitting new session lows of $3.85 per MMBtu. Currently, its down 0.5% at $3.86 per MMB tu.

Precious metals have been in positive territory all session, but are off overnight highs. Currently, April gold is 0.9% higher at $1400.6 per ounce, while March silver is up 1.7% at $32.85 per ounce.

Cotton futures fell the exchange limit today on concerns China demand will now slow. Currently, May cotton futures are down 3.6% at $1.8793/lb. Cocoa futures are in the top three best performers in the CRB Index after pushing to a 32-year high on more supply concerns from the Ivory Coast, which arose due to escalating violence in the area.DJ30 -63.08 NASDAQ -30.65 SP500 -10.04 NASDAQ Adv/Vol/Dec 533/442.4 mln/1935 NYSE Adv/Vol/Dec 670/243.3 mln/2171

10:00 am : Stocks are doing a good job of triming losses. The latest leg higher has been helped by a stronger-than-expected Consumer Confidence number.

The Conference Board's Consumer Confidence Index for February was just released. It came in at 70.4, which is much better than the 67.0 that had been expected, on average, among economists surveyed by Briefing.com. The February reading is the highest in almost three years.

Although the broader market has responded positively to the data, energy is still the only major sector in higher ground. Energy stocks are collectively up 1.4%.DJ30 -55.59 NASDAQ -33.63 SP500 -9.97 NASDAQ Adv/Vol/Dec 359/256 mln/2073 NYSE Adv/Vol/Dec 440/162 mln/2364

09:45 am : With the exception of energy issues, widespread weakness has taken stocks sharply lower in the first few minutes of trade.

Energy is the only major sector to sport a gain in the early going. More impressive is that the sector is actually up in excess of 1%. Such an enviable bounce stems from a sharp spike in oil prices following social unreast in the Middle East and a threat that Libya will stop its oil supply -- Libya boasts the largest oil reserve in Africa. Oil prices are off of their overnight highs, but they continue to sport a 6.3% gain at $91.60 per barrel.

Amid the spike in oil prices, airline stocks have descended deeply into the red. Specifically, the Amex Airline Index is down 4.2%. DJ30 -96.64 NASDAQ -49.10 SP500 -15.79 NASDAQ Adv/Vol/Dec 366/55 mln/1908 NYSE Adv/Vol/Dec 279/60 mln/1482

09:25 am : S&P futures vs fair value: -14.30. Nasdaq futures vs fair value: -31.20. The threat that Libya will halt its supply of oil amid social unrest in the region stirred a concerted selling effort in Asia overnight. News that Moody's knocked down its outlook on Japan to Negative seemed to only exacerbate weakness. Europe's major bourses have also been undercut by those headlines, but they already experienced sizable losses in the prior session, so pressure there has been less severe.

Oil prices are still in the zone of $93 per barrel, which makes for a gain of about 8%. Precious metals have been bid sharply higher as investors seek safety -- gold prices are up 1.0% to $1402 per ounce while silver is up 2.4% at $33.07 per ounce after it had set a new 30-year high above $34 per ounce overnight.

As for the dollar, it is flat against a collection of competing currencies.

Treasuries have handed back some of their gains, but they are still up comfortably ahead of results from an auction of 2-year Notes at 1:00 PM ET.

Corporate news has been of secondary interest this morning, even though it has featured better-than-expected earnings, increased guidance, and an increased dividend from Dow component Home Depot (HD). Fellow blue chip Wal-Mart (WMT) also posted an upside earnings surprise, but its top line was a bit light.

No real reaction was made to a 0.4% slip in the S&P/CaseShiller 20-city Home Price Index for December. Coming up at 10:00 AM ET is the Consumer Confidence Survey for February.

09:10 am : S&P futures vs fair value: -14.50. Nasdaq futures vs fair value: -31.70. Futures for the S&P 500 have stopped their upward push to take a breather. They continue to trail fair value by a wide margin. Meanwhile, Germany's DAX has managed to muster a modest gain of 0.1% in the face of global selling pressure. Man SE, Volkswagen, Daimler (DAI), and Commerzbank have been primary sources of support for the German bourse. Bayer AG and Thyssenkrupp have been heavy drags, though. As for data, Germany's Gfk Consumer Confidence Survey for March came in at 6.0, which is an improvement from the 5.8 that was posted in February. France's CAC was down as much as 1.7% overnight, but it now trades with a 1.1% loss. BNP Paribas, Societe Generale, Sanofi-Aventis (SNY), and Total (TOT) have hampered action the most. Total is among those that have halted operations and evacuated workers in the region surrounding Libya, which has threatened to stop its oil supply amid social unrest. Only a handful of French issues have managed to make gains in the face of the selling effort. Essilor International and Schneider Electric are leaders in that short list. Britain's FTSE is currently off by 0.6% as about 80% of its issues trade in the red. HSBC (HBC), Vodafone (VOD), and BP Plc (BP) are having the most detrimental impact on trade. Metals and miners BHP Billiton (BHP), Rio Tinto (RIO), and Anglo American have displayed strength, though.

Mainland China's Shanghai Composite dove to a 2.6% loss in response to concerns about rising geopolitical tensions and the threat of restricted oil supply from Libya. In turn, declining issues outnumbered advancers by more than 8-to-1 there. China Petroleum (CEO) and PetroChina (PTR) drove the downside move. Zijin Mining and Yantai Wanhua displayed strength. Hong Kong's Hang Seng fell 2.1%. HSBC, China Construction Bank, Tencent Holdings, and China Mobile weighed most on trade. Of the 45 names that make up the Hang Seng, CNOOC (CEO), CLP Holdings, and MTR Corp were the only three to put together any kind of a gain. Japan's Nikkei fell to a 1.8% loss overnight. Weakness was only exacerbated by news that Moody's lowered its outlook on Japan to Negative. Softbank, Fast Retailing, and Honda Motor (HMC) were the biggest names among declining issues, which included more than 90% of the Nikkei's components. East Japan Rail and Central Japan Railway were able to make gains. JX Holdings also moved higher.

08:35 am : S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -33.70. Stock futures continue to try to fight through premarket selling pressure, but widespread weakness persists. Oil prices in the continuous contract had been above $94 per barrel overnight, but they have pulled back in the last few hours. Still, oil futures prices sport a 7.9% gain at $93 per barrel following threats from Libya to halt oil production -- Libya has the largest oil reserve in Africa. Concerns about the potential for geopolitical instability have sent some investors to seek safety in precious metals. That has sent the price of gold up 0.7% to $1398.30 per ounce, but silver is up a much sharper 3.0% to $33.26 per ounce. Silver prices had actually eclipsed $34 per ounce earlier for a fresh 30-year high. As for the dollar, it is currently flat against a basket of competing currencies. Treasuries have pulled back from their overnight highs so that they trade with relatively modest gains. The initial flight to safety had sent the yield on the benchmark 10-year Note below 3.50% to its lowest level in about three weeks.

08:10 am : S&P futures vs fair value: -14.60. Nasdaq futures vs fair value: -31.20. Stock futures have worked their way off of overnight lows, but they still point toward an opening loss of roughly 1% or more. Weakness comes amid concerns about potential geopolitical implications related to renewed social unrest in the Middle East region and a threat by Lybia to stop supplying oil. In response, oil futures prices spiked; they currently trade more than 7% higher at $92.55 per barrel ahead of pit trade. Such themes sent Asia's major averages sharply lower overnight -- China's Shanghai Composite logged a 2.6% loss and Hong Kong's Hang Seng shed 2.1%. Japan's Nikkei fell 1.8% as news that Moody's lowered its rating outlook for Japan to Negative dampened sentiment further. Europe's major bourses are down with varied losses in the wake of Asia's sell-off. Corporate news has been largely overshadowed. Both Wal-Mart (WMT) and Home Depot (HD) posted this morning better-than-expected earnings for the latest quarter. HD complemented its report with an increased outlook and an increased dividend. In merger and acquisition activity, Frontier Oil (FTO) and Holly Corp. (HOC) announced an all-stock merger of equals, but FTO will pay a special dividend of $0.28 per share. Data for today features S&P/CaseShiller home price figures for December and the Conference Board's consumer confidence number for February. Those reports are due at 9:00 AM ET and 10:00 AM ET, respectively.

07:00 am : S&P futures vs fair value: -17.10. Nasdaq futures vs fair value: -36.50.

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

6:09PM Cabot Oil & Gas misses by $0.02, reports revs in-line (COG) 39.83 -1.04 : Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.02 worse than the Thomson Reuters consensus of $0.21; revenues fell 7.1% year/year to $216.9 mln vs the $216.7 mln consensus.

6:05PM Cabot Oil & Gas provides operations update, Lathrop installation and Haynesville joint venture proceeding (COG) 39.83 -1.04 : Co provided information regarding the start-up of additional compression at Lathrop, the joint ventures on the co's acreage in the Haynesville/Bossier shale play and continued drilling success in its two focus areas for 2011 - Marcellus and Eagle Ford. Drilling In the Marcellus, the co continues its active pace with excellent results. Three recent noteworthy completions yielded initial production rates from 12.1 to 23.8 Mmcf per day with the 30-day average production rates ranging from 10.3 to 19.0 Mmcf per day coming from laterals ranging between 2,600' and just over 3,700' utilizing 10 to 15 frac stages per well.

6:03PM Cabot Oil & Gas Corp announces year-end proved reserves of 2.7 Tcfe, 31% increase year-over-year (COG) 39.83 -1.04 : COG announced that its year-end 2010 proved reserves increased 31% to 2.7 Tcfe over the prior year. Generating this growth was an organic drilling program that achieved 603% production replacement (from additions and revisions only); an all-sources finding cost of $1.05 per Mcfe ($0.89 when lease acquisitions are removed); all while maintaining proved undeveloped (PUD) reserve bookings at 36% of the total. Additionally, Cabot increased its proved liquids reserves by 22% to 9.5 million barrels. A significant portion of Cabot's reserve adds were in its industry-leading area of the Marcellus, which provides substantially higher rates of return.

5:52PM St. Joe Co reschedules release of Q4 and full year 2010 results to March 1 from Feb. 24 (JOE) 27.89 -0.21 : The St. Joe Co (JOE) announced today that it has rescheduled the release of its results for the fourth quarter and full year 2010 that was previously scheduled for February 24, 2011. The Company will now release its results on March 1, 2011 in order to allow adequate time to finalize its Form 10-K.

5:51PM Greenlight Capital beats by $0.05 (GLRE) 28.37 -0.88 : Reports Q4 (Dec) earnings of $1.53 per share, $0.05 better than the Thomson Reuters consensus of $1.48.

5:35PM Subaye announced today it will require additional time to complete its quarterly financial results and file its Form 10-Q with the SEC (SBAY) 8.20 -0.32 : The quarterly results were due to be filed with the SEC by February 22, 2011. Subaye has informed the NASDAQ OMX Group that it will require additional time to complete the quarterly results and file the Form 10-Q with the SEC. Subaye has been informed that a customary listing deficiency notice letter will be mailed to Subaye immediately.

5:34PM Hertz Global beats by $0.03, reports revs in-line; guides FY11 revs below consensus (HTZ) 15.16 -0.75 : Reports Q4 (Dec) earnings of $0.10 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.07; revenues rose 5.5% year/year to $1.84 bln vs the $1.84 bln consensus. Co issues downside guidance for FY11, sees FY11 revs of $7.95-8.1 bln vs. $8.12 bln Thomson Reuters consensus.

5:33PM NovaGold Resources announced year-end results; co is focused on advancing its two core properties, Donlin Creek (NG) 14.12 -0.28 : Co announced the results of its fiscal year ended November 30, 2010 along with an update on the co's project development activities. At its 50%-owned Donlin Creek gold project in Alaska, we are revising the 2009 feasibility study to incorporate a natural gas pipeline, bringing a new source of power generation to site that may further enhance profitability. A pre-feasibility study is underway for our 50%-owned Galore Creek copper-gold-silver project located in northern British Columbia. The optimized project design has expanded throughput to ~90,000 tonnes per day, relocated the project facilities to allow for easier construction and future expansion, and reduced the risks associated with construction and operations. The co is focused on advancing its two core properties, Donlin Creek and Galore Creek. At the Donlin Creek project, Donlin Creek LLC has an approved 2011 budget of ~US$41.0 mln of which the co's 50% share is ~US$20.5 mln. Co announced the results of its FY10 along with an update on the co's project development activities. At its 50%-owned Donlin Creek gold project in Alaska, co is revising the 2009 feasibility study to incorporate a natural gas pipeline, bringing a new source of power generation to site that may further enhance profitability. A pre-feasibility study is underway for our 50%-owned Galore Creek copper-gold-silver project located in northern British Columbia. The optimized project design has expanded throughput to ~90,000 tonnes per day, relocated the project facilities to allow for easier construction and future expansion, and reduced the risks associated with construction and operations. The co is focused on advancing its two core properties, Donlin Creek and Galore Creek. At the Donlin Creek project, Donlin Creek LLC has an approved 2011 budget of ~US$41.0 mln of which the co's 50% share is ~US$20.5 mln.

5:32PM Kronos Worldwide announces a price increase for all titanium dioxide products sold in europe (KRO) 51.23 -0.76 : Co announced a price increase for all titanium dioxide products sold in Western Europe, Eastern Europe and Turkey. Effective March 15, 2011, or as permitted by contract, prices for all Kronos titanium dioxide products sold in Western Europe and Turkey will be increased by 200 to 250 Euro per metric ton (or equivalent in other currencies), depending on the grade and market segment. In the US dollar markets of Eastern Europe, the price increase will be 300 to 350 US$ per metric ton, depending on the grade and market segment. This increase is in addition to the increases previously announced.

5:21PM Rogers agrees to purchase 1.4 mln Class B non-voting shares for cancellation in private purchase (RCI) 34.74 -0.64 : Co announced that it has agreed to purchase for cancellation 1,400,000 of its outstanding Class B Non-Voting shares ("Class B shares"), or ~0.32% of the Class B shares outstanding at January 31, 2011, pursuant to a private agreement between Rogers and an arm's-length third party seller (the "Private Purchase") for an aggregate purchase price of $44,900,940, which is at a discount to the current market price of the Class B shares.

5:16PM HEICO beats by $0.06, beats on revs; guides FY11 revs above consensus (HEI) 53.23 -1.47 : Reports Q1 (Jan) earnings of $0.48 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.42; revenues rose 28.6% year/year to $174.2 mln vs the $159 mln consensus. Co issues upside guidance for FY11, sees FY11 revs growth of 13-15%, which equates to ~$697.0-709.6 mln vs. $691.16 mln Thomson Reuters consensus; sees net income growth of 15-17%.

5:15PM Lockheed Martin enters into definitive agreement to sell its PAE Business to Lindsay Goldberg, LLC (LMT) 80.18 -1.63 : Lockheed Martin (LMT) announced that it has entered into a definitive agreement to sell its Pacific Architects and Engineers Incorporated (PAE) business to Lindsay Goldberg, LLC. It is expected that the transaction will close in the second quarter of 2011. Terms of the transaction will not be disclosed and are not expected to have a material effect on Lockheed Martin.

5:08PM Papa John's beats by $0.03, beats on revs; guides FY11 EPS in-line (PZZA) 28.47 -0.68 : Reports Q4 (Dec) earnings of $0.51 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.48; revenues rose 5.1% year/year to $286.8 mln vs the $282.2 mln consensus. Co issues in-line guidance for FY11, sees EPS of $2.00-2.12, excluding non-recurring items, vs. $2.07 Thomson Reuters consensus. In reaffirming its 2011 guidance, the co noted its belief that the favorable impact of early year sales results is expected to substantially mitigate the unfavorable impact of currently projected commodity cost increases, most notably cheese, throughout the remainder of the year.

5:05PM Giant Interactive beats by $0.01, beats on revs; guides Q1 revs in-line (GA) 7.45 -0.38 : Reports Q4 (Dec) earnings of $0.15 per share, $0.01 better than the Thomson Reuters consensus of $0.14; revenues rose 8.8% year/year to $55.8 mln vs the $53.9 mln consensus. Co issues in-line guidance for Q1, sees Q1 continued sequential top-line growth, which equates to at least $55.8 mln vs. $55.86 mln Thomson Reuters consensus. For Q1 2011, the co expects the ZT Online Series of games to continue building on the positive momentum experienced in 2010, with ZT Online 2 gaining increased traction. As a result, the co expects continued sequential top-line growth in Q1 2011.

5:03PM J. Crew says ISS's report is based on flawed analyses, and co believes that ISS has reached the wrong recommendation with respect to the contemplated transaction with TPG and Leonard Green (JCG) 43.35 -0.27 : Co commented on the report issued by Institutional Shareholder Services on J.Crew Group's proposed acquisition by TPG Capital and Leonard Green. As previously announced, under the terms of the $3 billion merger agreement, J.Crew stockholders will receive $43.50 per share in cash. "Contrary to the ISS report, which the Company called 'deeply flawed in its analysis and conclusions,' the proposed transaction offers a full and fair price for J.Crew's shareholders. The special committee of independent directors of J.Crew carefully considered the transaction with TPG and Leonard Green. Following a comprehensive evaluation of the transaction, as well as all other potential strategic alternatives available to the Company, the special committee and the board of directors determined that the proposed transaction is in the best interests of and maximizes value for J.Crew's shareholders. The special committee ran a thorough process, including analyzing the risks and rewards of all alternatives. This process resulted in a premium offer that provides immediate and certain value to J.Crew shareholders. We urge all shareholders to vote on the facts and in favor of this transaction." Tomorrow, the Company is filing an Investor Presentation that explains in detail why it believes that the proposed transaction is in the best interests of its shareholders and responds to certain of the flaws in the ISS report.

5:01PM Denison agrees to make bid to acquire White Canyon Uranium Limited for approximately AU$57 million (DNN) 3.72 -0.42 : Co has entered into a Bid Implementation Agreement with White Canyon Uranium Limited under which Denison has agreed to make a takeover offer to acquire 100% of the issued and outstanding shares of White Canyon at a price of AU$0.24 per share for a total consideration of approximately AU$57 million (CDN$56.6 million). The offer reflects a premium of approximately 20% to the closing price of White Canyon shares on the Australian Securities Exchange on February 18, 2011 (the last trading day in White Canyon shares prior to this announcement) and premiums of 23% and 51% to volume weighted average prices for White Canyon shares in the previous 30 and 90 trading days, respectively.

5:01PM Healthcare Realty misses by $0.01, misses on revs (HR) 22.10 -0.22 : Reports Q4 (Dec) funds from operations of $0.30 per share, $0.01 worse than the Thomson Reuters consensus of $0.31; revenues rose 7.8% year/year to $67 mln vs the $68.8 mln consensus.

5:01PM Packaging Corp announces intent to increase dividend to $0.80 from $0.60 per annum; announces $100 mln share repurchase (PKG) 28.98 -0.97 :

5:00PM Tier Technologies to reduce the size of its Board from eight to seven members, effective at the Annual Meeting (TIER) 6.01 -0.25 : Co and the Discovery Group, which beneficially owns 14.8% of the Company's outstanding shares, announced that they have entered into an agreement in connection with the Company's 2011 Annual Meeting of Stockholders to be held on April 7, 2011. Under the terms of the Agreement, Tier will reduce the size of its Board from eight to seven members, effective at the Annual Meeting. The Tier nominees for election to the Board at the annual meeting will consist of Charles Berger, Morgan Guenther, Alex Hart, Philip Heasley, David Poe, Zachary Sadek, and Katherine Schipper. As part of the Agreement, Discovery has agreed not to nominate any candidates for election to the Board at the Annual Meeting and to vote its shares in support of Tier's nominees at the meeting. Discovery has also agreed to withdraw its stockholder proposal, which related to a Dutch Auction tender offer, and agreed not to present that proposal at the Annual Meeting. In January 2011, the Company completed a $10 million tender offer conducted as a modified Dutch Auction.

4:59PM Dillard's also announces a $250 mln share repurchase program (DDS) 40.46 -1.52 :

4:47PM Exelixis beats by $0.05, misses on revs; guides FY11 revs below consensus (EXEL) 10.55 -0.21 : Reports Q4 (Dec) loss of $0.16 per share, including charges, $0.05 better than the Thomson Reuters consensus of ($0.21); revenues fell 7.5% year/year to $40.8 mln vs the $49.1 mln consensus. Co issues downside guidance for FY11, sees FY11 revs of $145-160 mln vs. $177.16 mln Thomson Reuters consensus.

4:45PM B&G Foods increased the Company's quarterly dividend rate 24% from $0.17 per share of common stock to $0.21 per share of common stock (BGS) 14.15 -0.10 :

4:37PM IESI-BFC misses by $0.01, beats on revs; guides FY11 EPS above consensus, revs below consensus (BIN) 24.05 -0.19 : Reports Q4 (Dec) earnings of $0.22 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.23; revenues rose 63.8% year/year to $429.9 mln vs the $421.8 mln consensus. Co issues mixed guidance for FY11, sees EPS of $1.16, excluding non-recurring items, vs. $1.14 Thomson Reuters consensus; sees FY11 revs of ~$1.8 bln vs. $1.83 bln Thomson Reuters consensus.

4:35PM ArthroCare receives FDA clearance for Parallax Contour-enhanced vertebral augmentation device (ARTC) 34.21 +0.46 : Co announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to market its second-generation Parallax(R) Contour(R) -enhanced Vertebral Augmentation Device specifically for void creation in a vertebral body followed by injection of bone cement. Vertebral augmentation, also referred to as vertebroplasty or kyphoplasty, is commonly used to treat painful vertebral compression fractures. This new lower profile device makes it easier for surgeons to operate in tight spaces and to provide additional tactile and audible feedback to improve ease of use during the void creation process.

4:34PM China Distance Education beats by $0.02, beats on revs; guides Q2 revs in-line (DL) 4.25 -0.51 : Reports Q1 (Dec) loss of $0.03 per share, $0.02 better than the Thomson Reuters consensus of ($0.05); revenues rose 39.3% year/year to $7.8 mln vs the $6.4 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $8.6-9.4 mln vs. $8.68 mln Thomson Reuters consensus.

4:33PM SRS Labs misses by $0.12, misses on revs; guides FY11 revs below consensus (SRSL) 9.70 -0.35 : Reports Q4 (Dec) loss of $0.03 per share, $0.12 worse than the Thomson Reuters consensus of $0.09; revenues rose 1.4% year/year to $7.1 mln vs the $8.4 mln consensus. Co issues downside guidance for FY11, sees FY11 revs of +25% to ~$39.0 mln vs. $40.55 mln Thomson Reuters consensus. "Based on our robust pipeline of new opportunities, design wins in progress, and contracts signed, we expect revenues for fiscal 2011 to grow by 25% compared to 2010 and deliver improved profit margins... In the 2nd half of 2010, some of our customers experienced a slowdown in sales and that, in addition to some royalty reporting discrepancies, impacted our revenues in the fourth quarter. Our record results for the year, however, reflect solid execution of our strategic plans to drive top-line growth and diversify our revenue streams while successfully retaining our customer base, penetrating deeper within our key accounts, and adding new customers to our portfolio."

4:32PM Catalyst Health Solutions beats by $0.02, beats on revs; reaffirms FY11 EPS guidance, revs guidance (CHSI) 44.13 -1.45 : Reports Q4 (Dec) earnings of $0.56 per share, $0.02 better than the Thomson Reuters consensus of $0.54; revenues rose 47.1% year/year to $1.1 bln vs the $1.07 bln consensus. Co reaffirms guidance for FY11, sees EPS of $2.20 - 2.39 vs. $2.33 Thomson Reuters consensus; sees FY11 revs of $4.6 - 4.8 bln vs. $4.71 bln Thomson Reuters consensus.

4:32PM Nordson beats by $0.20, beats on revs; guides Q2 EPS above consensus, revs above consensus (NDSN) 96.50 -3.57 : Reports Q1 (Jan) earnings of $1.30 per share, excluding non-recurring items, $0.20 better than the Thomson Reuters consensus of $1.10; revenues rose 22.8% year/year to $271 mln vs the $260.7 mln consensus. Co issues upside guidance for Q2, sees EPS of $1.70-1.82 vs. $1.25 Thomson Reuters consensus; sees Q2 revs of $308-318 mln vs. $280.51 mln Thomson Reuters consensus.

4:31PM Peapack-Gladstone Financial receives approval from U.S. Treasury to redeem a portion of the preferred stock issued under the Treasury's Capital Purchase Program (PGC) 13.46 -0.34 : PGC announced that it has received approval from the U.S. Treasury to redeem an additional 25% of the preferred shares originally issued under the Treasury's Capital Purchase Program ("CPP"). The Corp expects to repay ~$7.2 mln to the Treasury (including accrued and unpaid dividends of ~$15 thousand) on March 2, 2011. The Corp's redemption of the shares is not subject to additional conditions or stipulations from the Treasury.

4:31PM CTG beats by $0.02; guides Q1 and 2011 EPS and revs in-line (CTGX) 11.75 -0.87 : Reports Q4 (Dec) earnings of $0.16 per share, $0.02 better than the Thomson Reuters dual-analyst est of $0.14; revenues rose 29.1% year/year to $87.3 mln vs the $87.3 mln consensus. Co sees Q1 EPS of $0.15-0.17 vs. $0.15 dual-analyst est; sees revs of $90-93 mln vs. $91.1 mln dual-analyst est. Co sees 2011 EPS of $0.63-0.73 vs. $0.63 dual-analyst est; sees revs of $365-385 mln vs. $376.1 mln dual-analyst est.

4:31PM Immersion Corp announces that Alps Electric has extended and expanded its license to Immersion's TouchSense haptics technology (IMMR) 6.98 : Co announces that Alps Electric has extended and expanded its license to Immersion's TouchSense haptics technology. The new agreement extends the agreement through 2016 and broadens coverage, aligning with Alps Electric's extensive reach.

4:30PM Dynavax Technologies reports additional positive Phase 1B immunogenicity data for hepatitis b therapy candidate (DVAX) 2.96 -0.12 : Co reports new Phase 1b immunogenicity data for DV-601, its proprietary hepatitis B therapeutic vaccine. The study evaluated three doses of the candidate therapeutic vaccine escalation in 14 patients with chronic hepatitis B infection, including six patients that were HBeAg negative and eight patients who were HBeAg positive, and found: 1) The therapeutic regimen was safe and generally well tolerated at all dose levels; 2) Most common systemic reactions were fatigue and malaise. No SAEs were recorded; 3) DV601 was found to elicit immune responses at all dose levels, and anti-HBe antibodies were elicited in two of eight (2/8) patients; 4) Anti-HBs antibodies were elicited in four of 14 (4/14) patients; 5) Amongst the eight HBeAg positive patients, two had HBeAg clearance, and one of those individuals also had HBsAg clearance; and 6) Three patients are still in the follow-up observation period.

4:25PM USEC Inc. reports on the progress of ongoing negotiations with the DoE Loan Guarantee Program office on a term sheet for a conditional commitment for the financing of the American Centrifuge Plant (USU) 5.61 -0.23 : Co's CEO issues the following statement: "We are pleased with the progress being made between DOE and USEC staff to develop the terms and conditions for a conditional commitment... Based on our recent discussions with DOE, I am optimistic that we can reach an agreement on terms in the near future and that DOE will then be able to move promptly to issue the conditional commitment."

4:25PM SRS Labs announces stock repurchase program of up to one mln shares of the co's outstanding common stock (SRSL) 9.70 -0.35 : The stock repurchase program will commence February 25, 2011 and will conclude on December 31, 2011.

4:25PM Pebblebrook Hotel Trust beats by $0.01; reaffirms FY11 FFO's in-line with consensus (PEB) 20.87 -0.88 : Reports Q4 (Dec) adjusted funds from operations of $0.10 per share, $0.01 better than the Thomson Reuters consensus of $0.09; reports revenues of $33.9 mln vs the $33.6 mln consensus. Co reaffirms FY11 adjusted FFO's of $0.80-0.85 vs. $0.83 consensus.

4:23PM Herbalife beats by $0.19, beats on revs; guides Q1 EPS above consensus, revs above consensus; raises FY11 EPS in-line, revs above consensus (HLF) 69.85 +0.31 : Reports Q4 (Dec) earnings of $1.31 per share, $0.19 better than the Thomson Reuters consensus of $1.12; revenues rose 17.0% year/year to $738.3 mln vs the $721.3 mln consensus. Co issues upside guidance for Q1, sees EPS of $1.17-1.21 vs. $1.11 Thomson Reuters consensus; sees Q1 rev growth of 18-20%, equates to revs of ~$729-7.42 mln vs. $696.23 mln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $5.15-5.40 vs. $5.28 Thomson Reuters consensus; sees FY11 rev growth of 13-15%, equates to revs of ~$3.09-3.14 bln vs. $3.03 bln Thomson Reuters consensus.The full year improvements in earnings were predominantly a result of strong volume growth. For the second consecutive quarter and for the year ended December 31, 2010, as compared to full year 2009, each of the company's six regions experienced volume growth. The Herbalife Board of Directors has approved a two-for-one split of Herbalife's Common Shares, subject to shareholder approval.

4:19PM Homeowners Choice has taken initial steps to enter the Alabama homeowners insurance market; expects to satisfy the Alabama regulatory requirements and begin operations there by the end of 2011 (HCII) 8.29 -0.06 :

4:19PM Valspar has acquired Isocoat Tintas e Vernizes; Isocoat had 2010 sales of approximately $34 mln; terms of the transaction were not disclosed (VAL) 38.64 -0.51 :

4:17PM American Reprographics reports Q4 EPS of ($0.03) vs $0.00 Thomson Reuters consensus; revs declined 6% YoY to $105 mln vs $103.06 mln Thomson Reuters consensus (ARC) 9.11 -0.24 : Co sees FY11 EPS of $0.01-0.15 vs $0.13 Thomson Reuters consensus.

4:14PM USEC Inc. beats by $0.04, beats on revs; guides FY11 revs below consensus (USU) 5.62 -0.22 : Reports Q4 (Dec) earnings of $0.05 per share, $0.04 better than the Thomson Reuters consensus of $0.01; revenues rose 42.5% year/year to $666.4 mln vs the $650.6 mln consensus. Co issues downside guidance for FY11, sees FY11 revs of $1.7 bln vs. $2.01 bln Thomson Reuters consensus.

4:13PM China Medicine announces auditor will decline to stand for re-appointment (CHME) 2.05 +0.07 : Co announces it has been advised by Frazer Frost, LLP that after completion of the current audit for the year ended December 31, 2010, Frazer Frost will decline to stand for re-appointment as the Company's independent registered public accounting firm for the Company's audit and for the quarterly reviews of the Company for the year ended December 31, 2011. The decision of Frazer Frost was made on its own initiative without the prior knowledge or participation of the Company. The audit reports of Frazer Frost on the financial statements of the Company as of and for the years ended December 31, 2009 and December 31, 2008 did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope or accounting principles.

4:12PM BGC Partners announces Chairman and CEO, Lutnick, exercised options on 1.5 million shares (BGCP) 8.93 -0.27 :

4:12PM Hewlett-Packard beats by $0.07, misses on revs; guides Q2 EPS, revs below consensus; raises FY11 EPS in-line, lowers revs below consensus (HPQ) 48.23 -0.44 : Reports Q1 (Jan) earnings of $1.36 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $1.29; revenues rose 936.3% year/year to $32.3 bln vs the $32.95 bln consensus. Co issues downside guidance for Q2, sees EPS of $1.19-1.21, excluding non-recurring items, vs. $1.25 Thomson Reuters consensus; sees Q2 revs of $31.4-31.6 bln vs. $32.59 bln Thomson Reuters consensus. Co issues mixed guidance for FY11, raises EPS to $5.20-5.28, excluding non-recurring items, from $5.16-5.26 vs. $5.24 Thomson Reuters consensus; lowers FY11 rev to $130-131.5 bln from $132-133.5 bln vs. $132.95 bln Thomson Reuters consensus. Q1 non-GAAP operating margin of 12.4% vs 11.7% Thomson Reuters consensus. HP saw balanced growth in the first quarter across all regions in local currency, with accelerated growth in BRIC countries. Results were largely driven by momentum in the commercial sector as businesses continued to spend on technology. HP experienced uneven consumer performance across its geographies and product categories during the quarter. First quarter revenue was up 6% in the Americas to $14.4 billion. Revenue was flat in Europe, the Middle East and Africa and up 7% in Asia Pacific to $12.1 billion and $5.8 billion, respectively. When adjusted for the effects of currency, revenue was up 5% in the Americas, up 4% in Europe, the Middle East and Africa and up 2% in Asia Pacific. Revenue from outside of the United States in the first quarter accounted for 65% of total HP revenue, with revenue in the BRIC countries increasing 11% while accounting for 11% of total HP revenue.

4:11PM Biglari Holdings will redeem all its outstanding 14% Subordinated Debentures which were to be due 2015 (BH) 423.98 -14.43 : Co announces it will redeem all its outstanding 14% Subordinated Debentures which were to be due 2015 on March 30, 2011. Upon redemption, Biglari Holdings will pay to the registered holders of the Debentures a redemption price of 100% of the principal amount outstanding, plus accrued and unpaid interest up to, but excluding, the Redemption Date, for a total of $1,035 per $1,000 principal amount of Debentures. The aggregate principal amount of Debentures currently outstanding is $22,628,000.

4:11PM Amgen announces results from a pivotal Phase 3 study of 1,776 advanced cancer patients with different types of solid tumors; results are is statistically significant (AMGN) 52.24 +0.36 : Co announces the publication of results from a pivotal Phase 3 study of 1,776 advanced cancer patients with different types of solid tumors or multiple myeloma, which compared XGEVA to Zometa in preventing skeletal-related events. The study, which appeared today in the Journal of Clinical Oncology, found that XGEVA was non-inferior to Zometa in delaying or preventing SREs. For the primary endpoint of this study, the median time to first on-study SRE was 20.6 months for patients receiving XGEVA and 16.3 months for patients receiving Zometa, which is statistically significant for non-inferiority. Although numerically greater, the delay in the time to first SRE associated with XGEVA was not statistically superior compared to Zometa based upon the statistical testing strategy. The time to first- and subsequent SRE was also numerically greater but not statistically superior compared to Zometa.

4:09PM Endologix reports adjusted net earnings of $0.00 vs. ($0.01) Thomson Reuters consensus, revenue increased 41% y/y to $19.2 mln vs. $18.29 mln consensus (ELGX) 5.50 -0.47 : Co reaffirms gudiance, sees FY11 revenue of $78-$82 mln vs $80.6 mln Thomson Reuters consensus. In 2011, the company expects to generate a GAAP net loss of between $0.25 to $0.30 per share due to planned investments in building a direct sales force in Europe and developing the acquired Nellix technology in anticipation of both a commercial launch in Europe and the initiation of a U.S. IDE clinical trial in 2012. The company's 2011 loss per share guidance also includes ongoing investments in the U.S. sales force, research and development and clinical initiatives, and litigation expenses, but excludes the potential impact of adverse litigation outcomes, acquisitions, or other business development transactions.

4:09PM Graphic Packaging unit plans to close its Jacksonville, Ark., multiwall bag facility; co will transition business and equipment from Jacksonville to other U.S. operating locations (GPK) 5.00 -0.26 : Graphic Packaging unit recently announced plans to close its Jacksonville, Ark., multiwall bag facility. Co will transition business and equipment from Jacksonville to other U.S. operating locations. The Jacksonville multiwall bag facility will continue to operate and support customers while its business is transitioned to other Company facilities in the U.S. over the next several months. The Company has notified its Jacksonville employees, and will provide appropriate assistance to those affected.

4:07PM SatCon Tech misses by $0.06, misses on revs; guides Q1 revs below consensus (SATC) 4.83 +0.22 : Reports Q4 (Dec) loss of $0.03 per share, $0.06 worse than the Thomson Reuters consensus of $0.03; revenues rose 237.7% year/year to $72.6 mln vs the $73.7 mln consensus. Co issues downside guidance for Q1, sees Q1 revs of $65-70 mln vs. $75.41 mln Thomson Reuters consensus. "As we look out to Q2, we expect a significant increase in volume from Europe and North America, and increased gross margin on improvements in our supply chain and greater utilization of our Asian manufacturing facilities. We expect to continue our run of operating profitability throughout the year."

4:07PM Group 1 Auto announces that it acquired a Ford dealership in Houston; the dealership will operate as Sterling McCall Ford and is expected to generate ~$70.0 million in estimated annual revenues (GPI) 41.97 -0.05 :

4:05PM QEP Resources reports 2010 production; year-end reserves; affirms 2011 production guidance and provides an operations update (QEP) 38.94 -0.15 : Co's exploration and production subsidiary, QEP Energy, reported production of 229.0 Bcfe in 2010 compared to 189.5 Bcfe in 2009, a 21% increase. Co's estimated proved reserves totaled 3.03 Tcfe at December 31, 2010, up 10% from year-end 2009. The trailing 12-month weighted average prices used to estimate co's year-end 2010 proved reserves were $3.85/MMBtu for natural gas and $59.23/bbl for crude oil and NGL's. Co estimates 2011 production could range from 258 to 265 Bcfe, up 13 to 16% from 2010 production of 229.0 Bcfe. This guidance remains unchanged from the original guidance issued on November 16, 2010. Since the last operations update, co has completed and turned to sales 19 additional company-operated Haynesville wells, each with strong production rates and pressures.

4:05PM Chesapeake Energy beats by $0.07 (CHK) 32.01 +1.58 : Reports Q4 (Dec) earnings of $0.70 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.63; revenues fell 11.1% year/year to $1.98 bln vs the $2.37 bln consensus. Chesapeake's daily production for the 2010 fourth quarter averaged 2.920 bcfe, a decrease of 4% from the 3.043 bcfe produced per day in the 2010 third quarter and an increase of 12% over the 2.618 bcfe of daily production in the 2009 fourth quarter. 2010 Year-End Proved Reserves Reach 17.1 Tcfe; co adds proved reserves of 5.1 Tcfe through the drillbit at a 2010 full year drilling and completion cost of $1.07 per Mcfe

4:04PM Mohawk beats by $0.09, misses on revs; guides Q1 EPS below consensus (MHK) 57.34 -1.96 : Reports Q4 (Dec) earnings of $0.66 per share, $0.09 better than the Thomson Reuters consensus of $0.57; revenues fell 6.3% year/year to $1.26 bln vs the $1.28 bln consensus. Co issues downside guidance for Q1, sees EPS of $0.36-0.44 vs. $0.53 Thomson Reuters consensus. Co said, "The economic recovery and stronger consumer spending will positively impact our industry in 2011. The seasonally slow Q1 is being affected by harsh weather and increasing raw material costs offsetting savings from our cost initiatives. The Chinese joint venture's extended holiday shutdown will unfavorably impact our Q1. The residential remodeling market should improve with increased consumer spending and higher home sales. Commercial."

4:03PM EPIQ Systems reports EPS in-line, misses on revs (EPIQ) 13.36 -0.21 : Reports Q4 (Dec) earnings of $0.21 per share, in-line with the Thomson Reuters consensus of $0.21; revenues rose 26.6% year/year to $60.4 mln vs the $62.6 mln consensus.

4:03PM Texas Roadhouse misses by $0.02, reports revs in-line; guides FY11 EPS below consensus (TXRH) 17.74 -0.59 : Reports Q4 (Dec) earnings of $0.14 per share, $0.02 worse than the Thomson Reuters consensus of $0.16; revenues rose 7.6% year/year to $244.6 mln vs the $243.9 mln consensus. Co repots its goal for 2011 diluted earnings per share growth is approx 10% compared to 2010. This calculates to EPS of ~$0.88 vs. $0.93 Thomson Reuters consensus. This estimate is based, in part, on the following assumptions: Comparable restaurant sales growth of approximately 3.5%; Approximately 20 company restaurant openings; Food cost inflation of approximately 3.0%; and Total capital expenditures of $65 to $70 million.

4:02PM Encore Wire beats by $0.03, beats on revs (WIRE) 22.64 -0.68 : Reports Q4 (Dec) earnings of $0.19 per share, $0.03 better than the Thomson Reuters consensus of $0.16; revenues rose 44.6% year/year to $256.1 mln vs the $231.5 mln consensus. "We believe the exit of a former competitor in the first quarter of 2010 has contributed to the positive trend in industry pricing levels and margins over the last three quarters."

4:01PM Dice Holdings announced the closing of its previously announced public offering of 8.05 mln shares of common stock (DHX) 14.45 -0.45 :

4:00PM ATS announces new contract award totaling $22.7 mln for U.S. Architect of the Capitol (ATSC) 3.90 -0.17 : Co announces that it has been awarded a contract to provide comprehensive information technology services to the U.S. Architect of the Capitol with a value of $22.7 million over five years. The Architect of the Capitol is an organization charged by Congress with operation of the U.S. Capitol Complex, including the Capitol building and the Capitol Visitors Center.

4:00PM FMC Tech awarded $75 million contract to support Ekofisk Field (FTI) 90.45 -2.58 : Co announces that its subsidiary, FMC Kongsberg Subsea AS, has signed an agreement with ConocoPhillips Scandinavia AS for the manufacture and supply of subsea equipment and services for a water injection development in the Ekofisk field. The award has a base value of ~$75 million.

3:36PM Chico's FAS appoints Kent A. Kleeberger to the position of Executive Vice President - Chief Operating Officer (CHS) 12.13 -0.31 : Kleeberger is assuming the position currently held by Jeffrey A. Jones, who is retiring from the company effective March 7, 2011. Jones has agreed to serve as part-time consultant to the company during a transition period.

3:17PM Hudson Highland Grp announced that it has removed Jon Chait as Chairman and CEO of the company, effective immediately (HHGP) 6.26 -0.16 : Co announced that it has removed Jon Chait as Chairman and CEO of the company, effective immediately. The Board has appointed Mary Jane Raymond, the company's executive vice president and chief financial officer, to serve as interim CEO. Lead outside director Richard J. Stolz has been elected chairman of the board. The company announced on December 1, 2010 that Mr. Chait agreed to retire at the company's annual meeting of shareholders on April 28, 2011. On February 16, 2011, Mr. Chait informed the board of directors of his desire to stay on as chairman and CEO indefinitely and requested that all efforts to identify a successor be cancelled immediately. "We are disappointed that we were unable to reach an agreement on the terms of Mr. Chait's retirement. His recent communications with the board have caused us to lose confidence in his judgment, and we believe it is in the best interests of shareholders to remove him as chairman and CEO at this time. The Board has made significant progress on the search for Mr. Chait's successor, and we are confident in Ms. Raymond and the rest of our senior operational team to lead the company during this interim period."

3:10PM Stock indices give back limited afternoon upticks, Dow -194 and S&P -28 slide to new session lows -- Nasdaq Comp -72 just above (SPY) :

2:57PM Cubic declares a one-time special dividend of $0.10 per share payable on April 5 to shareholders of record at the close of business on March 11 (CUB) 49.78 -0.97 :

2:53PM Eastern Virginia Bank has entered into a written agreement with the Federal Reserve Bank (EVBS) 3.86 +0.04 : Co has entered into a written agreementwith the Federal Reserve Bank of Richmond and the Virginia State Corporation Commission Bureau of Financial Institutions. The purpose of the Agreement is to formally document the common goal. Under the terms of the Agreement, the Company and the Bank have committed to take certain steps to strengthen the Company's and the Bank's financial condition. These steps will primarily focus on improving the supervision and internal controls over credit risk management practices, the quality of the loan and asset portfolios, and the Company's and the Bank's capital, liquidity and earnings.

2:47PM Longwei Petroleum S-3 registration statement declared effective (LPH) 2.33 -0.11 : Co announced that its S-3 Registration Statement, which was filed with the SEC on December 13, 2010, has been declared effective as of February 18, 2011. The S-3 Registration Statement included the registration of all outstanding warrants and a $50 million shelf registration. The effective registration of the warrants associated with its October 2009 financing guarantees that the remaining outstanding warrants will be exercised "for cash" rather than on a cashless basis, which will provide the Company with an additional $26 million in cash when the warrants are fully exercised.

2:44PM Oil Service HOLDRS Trust displaying some relative weakness in recent action (OIH) : SLB, HAL, BHI, CAM, DO, ESV, EXH, NBR, NE, NOV, RDC, RIG, TDW, WFT.

2:38PM NYMEX Energy Closing Prices (COMDX) : April crude oil, the new front month, finished higher by $5.61 to $95.32. Overnight highs, at $98.48, represent a ~2 yr high for prices. March natural gas closed off 1.5 cents to $3.965, March heating oil rallied for 8.11 cents to settle at $2.794, while March RBOB gasoline ended higher by 5.72 cents to $2.6085.

2:35PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Price; Corn, wheat and soybeans fall the exchange limit (COMDX) : May corn finished down 30 cents (or -4.2%) to $6.9025, May wheat fell 30 cents (or 7.1%) to close at $7.9575, March soybeans fell 70 cents (or 5.1%) to close at $13.11, Apr ethanol closed down 0.066 at $2.45, while may world sugar futures closed down 0.06 cents to 30.96 cents.

2:30PM Sinclair Broadcast to amend and refinance a portion of its bank credit facility (SBGI) 12.85 -0.15 : Co announces that its wholly-owned subsidiary, Sinclair Television Group, intends to refinance a portion of, and amend certain terms of, its existing bank credit facility. Under the proposed terms, co would raise a $240.0 million tranche B term loan maturing 2016, and a new 5-year $100.0 million tranche A term loan. The new term loans, along with cash and/or revolving credit, would be used to repay the existing $270.0 million tranche B term loan which matures in October 2015 and redeem the $70 million principal amount of 6% convertible debentures due 2012 currently outstanding. Under the new term loans, Sinclair is expected to have more incremental loan capacity, increased television station acquisition capacity and more flexibility under the restrictive covenants.

2:29PM Monsanto has acquired Divergence; Terms of the agreement were not disclosed (MON) 71.68 -0.73 : Co announced that it has acquired Divergence, privately-held St. Louis-based biotechnology research and development company. Divergence's current focus is its work with parasitic nematodes, including developing biotechnology traits for nematode control and nematicides with novel modes of action and superior safety profiles.

2:29PM Index Change Reminder (INDXCH) : B&G Foods (BGS) will replace Compellent Technologies (CML) in the S&P SmallCap 600 after the close of trading today.

2:06PM CBS and Netflix (NFLX) announce two-year licensing agreement for library content (CBS) 21.82 -1.09 : CBS Corporation (CBS) and Netflix (NFLX) announce a two-year, non-exclusive licensing agreement that will allow select TV shows from CBS's library, including episodes of "Medium" and "Flashpoint" as well as full seasons of classics such as "Frasier," and "Cheers," to be streamed instantly from Netflix. CBS retains an option to extend the agreement for up to two additional years. Terms of the deal were not disclosed. Beginning in early April, dozens of shows from CBS will join the library of television shows and movies available to watch from Netflix for $7.99 a month.

1:50PM Pfizer confirms U.S. Supreme Court decision in Bruesewitz V. Wyeth (PFE) 18.81 -0.38 : The co affirmed the ruling of the U.S. Court of Appeals for the Third Circuit in favor of Pfizer's subsidiary Wyeth, in Bruesewitz v. Wyeth. The Third Circuit determined that the National Childhood Vaccine Injury Act prevents civil suits against manufacturers of FDA-approved childhood vaccines based on a claim that a particular vaccine should have been designed differently. "We are pleased that the U.S. Supreme Court affirmed the ruling of the Third Circuit."

1:31PM Sara Lee discusses proposed spin-off transaction at CAGNY; says spun-off North American Retail and Foodservice business will retain the Sara Lee name and is expected to account for ~$4.2 bln of co's total FY11 net sales (SLE) 16.99 -0.02 : On the International Beverage and Bakery business, this yet-to-be-named company is internally referred to as "CoffeeCo," will consist of Sara Lee's International Beverage and Bakery businesses, as well as the current North American beverage business, and is expected to account for ~$4.85 bln of co's total fiscal 2011 net sales. Co also discussed the impact of escalating commodity costs on its businesses; co reinforced its position that it will see improvement during the remainder of the year. "Although we anticipate further headwinds in the second half, particularly as we push through our new price increases, we do expect the increases that we have already taken will benefit our margins in the back half of the year."

1:31PM COMEX Metals Closing Prices (COMDX) : April gold finished higher by $12.20 to $1400.80, March silver gained 57.4 cents to end at $32.87, while March copper dropped 15.1 cents to close at $4.331.

1:25PM Another downside extension for stock indices -- Dow -184, S&P -27, Nasdaq Comp -71 (SPY) :

1:20PM IBM reaches its 20 day ema at 161.77 -- session low 161.82 (IBM) 162.06 -2.78 : Noted the test of last week's low/short term range floor at 162.52 in the 12:39 update with the break extending to 161.82 in recent trade to test its 20 day ema.

1:14PM Headwaters unit to manage coal ash at major new power plant in Virginia (HW) 5.18 -0.16 :

1:10PM JPMorgan Chase recent downside extension to 46.11 leaves it near its 20 day ema at 46.02 (JPM) 46.25 -1.75 : This average has been a solid trend indicator since early Dec.

1:00PM Mentor Graphics confirms receipt of unsolicited conditional proposal from the Icahn Group; will review conditional proposal (MENT) 15.70 +1.19 : The company's Board of Directors will review the Icahn Group's conditional proposal including any trade regulation limitations that may apply to alternate proposals and make a recommendation to shareholders in due course. Mentor Graphics shareholders are advised to take no action at this time pending the review of the proposal by the Mentor Graphics Board. (see 8:17 comment)

12:58PM S&P -25 extends to new low of 1317 to test a support zone (SPY) : Steady pressure off the morning bounce high leaves the index at support in the 1317/1316 area, which marks the 38% retrace of the surge off the late Jan low, its 20 day ema and congestion. Today's percentage decline approximates the Egypt related slide on Jan 28.

12:41PM Minor new session low for stock indices -- Dow -123, S&P -20, Nasdaq Comp -57, Nasdaq 100 -53 (SPY) :

12:39PM IBM dips to new session low of 162.63, last week's low and its near three week range low is at 162.52 (IBM) 162.65 -2.19 :

12:38PM UltraShort ProShares 20+ yr Treasury ETF attempting to stabilize after flirting its 50 sma/ema at 39.01/38.86 -- session low 39.05 (TBT) 39.16 -0.99 :

12:18PM Dow -115 joins S&P -19 and Nasdaq Comp -53 at new session lows, Nasdaq 100 -47 still has not confirmed break of first hour low (SPY) : Sectors displaying relative weakness (underperforming the S&P as it pulls back) include: Energy XLE, Oil Service OIH, Ag/Chem MOO Commodity Index, Silver SLV, Steel SLX, Coal KOL, Materials XLB, Gold GLD, Gold Miners GDX -- Dollar Index rallies off low -- along with Reg Bank KRE, Solar TAN.

12:07PM Nasdaq Comp -52 joins S&P -18 at new session lows, Dow -115 and lagging Nasdaq 100 -47 have not yet confirmed the move (SPY) :

12:03PM Gold drops below $1400; now higher by $8.80 to $1397.40 (COMDX) :

12:01PM Spartan Motors announced that a multi-year supply agreement has been signed with the Navistar (NAV) Engine Group (SPAR) 6.66 +0.29 :

12:00PM Navistar reaches a development agreement with EcoMotors International in support of the company's opoc engine architecture (NAV) 62.27 -1.37 :

11:57AM iShares Russell 2000 slides to new session low (IWM) : The small cap index has extended the pullback off it morning bounce high slightly below its opening trough. Last week's new multi-year was not confirmed by its relative strength line vs. the S&P and this similar set-up was seen in Jan prior to the corrective pause (Click for chart).

11:55AM WTI crude oil retracing recent bounce; now up $4.64 to $94.37 (COMDX) :

11:52AM New session low for Russell 2000 and S&P 500 in recent trade, Nasdaq Comp probing its morning low (SPY) :

11:44AM Corn futures hit limit-down (JJG) 53.00 -2.48 : March futures fell the exchange limit, falling 30 cents (or 4.3%) at $6.7975/bushel. Headlines are citing the crisis in Libya as a key driver in traders cutting long positions in corn futures.

11:17AM Stock indices slip further back off morning bounce highs -- Dow -82, S&P -14, Nasdaq Comp -45 (SPY) : Sectors that are displaying relative weakness (underperforming the S&P as it pulls back) include: Reg Bank KRE, Finance XLF, Casino BJK, Software IGV, Semi SMH, Technology XLK.

11:13AM Transition Therapeutics aware of the significant increase in its share price in TSX and NASDAQ trading today and has no material events to announce (TTHI) 4.25 +0.68 : Co is aware of the significant increase in its share price in TSX and NASDAQ trading today. At the request of the Investment Industry Regulatory Organization of Canada on behalf of the TSX, Transition reports that the Company has no material events to announce.

11:12AM Cisco Systems promotes Gary Moore to COO, a new position within the co, effective immediately (CSCO) 18.66 -0.19 :

11:04AM Financial Select Sector SPDR and Reg Bank KRE are displaying some relative weakness in recent trade (XLF) :

11:04AM Capitol Federal announced the Board of Directors declared a welcome dividend of $0.60 per share on all outstanding shares of CFFN common stock (CFFN) 12.09 -0.09 :

11:01AM Benchmark Elec announces that it has acquired facilities and certain other assets to expand its precision technologies capabilities in Penang, Malaysia; financial terms not disclosed (BHE) 19.58 -0.28 :

10:57AM Kraft Foods establishes new rebound/session high of 31.18 (KFT) 31.18 +0.27 : Working up toward of area of interest at 31.21/31.25 which marks its 50 sma/Feb high and a trendline off the Oct/Dec highs.

10:53AM Muammar Gaddafi begins speech on state-TV (COMDX) : WTI crude oil trading at lows; currently higher by $4.14 to $93.85. Brent crude oil is closing in on flat line; currently up 25 cents to $105.99.

10:52AM Minor new rebound highs for Semi SMH, Disk Drive, Retail XRT, Technology XLK (TECHX) :

10:39AM WTI crude oil futures drop another ~75 cents to new lows around the $94 level; currently higher by $4.48 to $94.19 (COMDX) :

10:17AM Relative Sector Strength (TECHX) : Sectors that are outperforming the S&P has the market averages extend the bounce off the early lows include: Materials XLB, Retail XRT, Internet FDN, Airline FAA, Ag/Chem MOO, Disk Drive.

10:12AM S&P -8.5 extends push off opening low (SPY) : The index reached as high as the 50% retracement of the slide off Friday's late high/close to the opening low at 1334 (rebound high 1334). Intraday watching 1336 and more importantly 1338 on the upside and 1328 in front of the early low (1325) and support zone (1324/1322) (Click for chart).

10:11AM Canadian Pacific and Port Metro Vancouver (PMV) announced a collaboration agreement to improve productivity and performance through Canada's Pacific Gateway (CP) 68.26 -0.17 :

10:05AM Gammon Gold confirms SEC declares F-4 registration statement effective (GRS) 9.41 +0.14 :

10:04AM Cotton futures fall by exchange limit for a second straight session, largely on concerns of slowing China demand (BAL) 95.55 -2.51 : Separately, National Australia Bank said that wool output forecasts for Australia may be reduced due to the flooding. Currently, May cotton futures are 3.6% lower at $1.8793/lb.

10:04AM Canadian Pacific and Port Metro Vancouver announce a collaboration agreement to improve productivity and performance through Canada's Pacific Gateway (CP) 68.20 -0.28 : This collaboration agreement sets the framework for the Port, CP and port stakeholders to develop mechanisms to define, measure, monitor and evaluate the performance of each participant at the port against established benchmarks. It also establishes processes to proactively communicate on service-related matters and resolve disputes between CP, the Port and port supply chain participants on a commercial basis.

10:03AM FedEx unit is adding new services for customers including FedEx First Overnight Freight and FedEx 2Day A.M. (FDX) 95.86 -2.45 : FedEx First Overnight Freight will offer nationwide, early-morning delivery of critical air freight shipments. Most markets will have a 9 a.m. delivery commitment. The new FedEx 2Day A.M. service will provide a 10:30 a.m. delivery commitment time for shipments with two-day delivery to most areas in the U.S. This service also is available for return shipments.

10:03AM UPS announces the expansion of its UPS Preferred LCL (less-than-container-load) Ocean Freight service to 10 additional Asian ports (UPS) 75.76 -0.71 : The service provides up to 40 percent faster port-to-door delivery to the United States for LCL shipments while still delivering the economic advantages of ocean freight.

10:02AM Wilson Greatbatch unit Greatbatch Medical and Boston Scientific (BSX) extend agreement through 2015 (GB) 24.30 +0.03 : Greatbatch Medical announced that it has signed a five-year agreement with Boston Scientific's Cardiology, Rhythm and Vascular Group. The agreement is effective immediately. This agreement replaces the previous contract between the two companies, and expands the depth of the relationship by adding multiple new product lines to the agreement--highlighting the value of our partnership.

10:01AM Stock indices lift to minor new rebound highs after confidence data and pause -- Dow -56, S&P -9.8, Nasdaq -35 (SPY) :

9:54AM S&P -11.3 reaches initial intraday resistance near 1331/1332 (SPY) : This marks Thursday's low, the 38% retrace off Friday's late high and it short term trending indicating 50 sma/ema on an hourly basis.

9:51AM Stock indices extend bounce off opening lows -- Dow -59 has lifted 60 points, S&P -11.7, Nasdaq -36 (SPY) :

9:48AM Partner Comms announces receiving a lawsuit and a motion for the recognition of this lawsuit as a Class Action; total amount claimed is estimated by the plaintiff to be approximately NIS 600 mln (PTNR) 19.18 -0.20 : The claim alleges that co's subscriber agreement includes unduly disadvantageous conditions in a standard contract and therefore the court has the right to declare them void and/or to change them. The claim further alleges that Partner did not comply with the requirements set by Law with respect to the subscriber's right to review the subscriber agreement in advance and to receive a copy of it and with respect to the subscriber's signature on the agreement by an electronic pad.

9:47AM Opening Point Gainers/Losers (TECHX) : Point Gainers: AGQ (+7.76), VFC (+7.01), HUM (+3.84), SIGA (+2.45), MCP (+2.51), WLK (+2.51), CLR (+2.31), USO (+2.20), EOG (+2.20), CVX (+2.30)

Point Losers: PCLN (-15.91), NFLX (-12.30), GOOG (-11.35), AAPL (-8.24), SINA (-6.56), BIDU (-5.32), SOXL (-4.79), FFIV (-4.65), AMZN (-4.27)

9:43AM Sector strength (TECHX) : Crude Oil USO +6.2% (stalled at its nine month close high of 39.05-- session high 39.05), Silver SLV +2.4%, Gold Miners GDX +1.4%, Gold GLD +1.1%, Energy XLE, Oil Service OIH +0.5% and Healthcare +0.9%.

9:38AM S&P -17 pulls back to/attempting to stabilize near 1324/1322 support -- session low 1325 (SPY) : This support, highlighted in The Technical Take, marks two week lows and the Feb 8 high and congestion.

9:36AM April WTI crude oil moves to lows of the morning; now up $6 to $95.71 (COMDX) :

9:36AM Nasdaq 100 -1.9% and Nasdaq Comp -1.7% pace way lower -- S&P -1.3%, Dow -0.9% (SPY) :

9:34AM Richardson Elec signed a global distribution agreement with Maestro Wireless (RELL) 12.88 -0.15 : Addition of Maestro Wireless GPS and Cellular Modules provides Richardson Electronics' customers with access to complementary embedded solutions.

9:33AM KB Home testing its 50 sma/ema support for third time this month at 14.33/14.19 (KBH) 14.28 -0.41 :

9:32AM U.S. Energy enters into Eagle Ford Participation Agreement With Crimson Exploration to acquire a 30% working interest in an oil prospect and associated leases located in Zavala County, Texas (USEG) 6.48 +0.02 : U.S. Energy (USEG) announced that it has entered into a participation agreement with Crimson Exploration (CXPO) to acquire a 30% working interest in an oil prospect and associated leases located in Zavala County, Texas. Under the terms of the agreement, USE will earn a 30% working interest (22.5% net revenue interest) in ~4,675 gross contiguous acres (1,402.5 net mineral acres) through a combination of a cash payment and commitment well carry. All future drilling and leasing will be on a heads up basis.

9:32AM Apple gaps down to its 50 ema/sma at 338.80/337.91 -- session low 338.33 (AAPL) 338.56 -12.10 :

9:31AM Quantum Fuel has secured a new purchase contract from Hi-tec Fuel & Auto Ltd to supply a series of natural gas vehicle tanks for light duty trucks (QTWW) 5.10 +0.02 :

9:25AM Abraxas Petroleum Corp. announces production rates for First Eagle Ford well (AXAS) 5.36 : In DeWitt County, Texas, Blue Eagle Energy, the joint venture between co and Rock Oil Company, drilled the T Bird 1H to a total measured depth of 19,450 feet, including a 5,700 foot lateral. The well was completed with a 15-stage fracture stimulation and placed on-line in January 2011 at a restricted rate. Over the past 19 days, the well has produced an average of 5.8 MMcf of liquids-rich gas and 342 barrels of condensate per day on a 12/64-inch choke. Co currently owns an ~50% interest in the joint venture.

9:21AM Mechel Steel places commercial papers of the 15 and 16 Series at a sum of 10 bln rubles (~$343 mln) (MTL) 31.38 :

9:18AM Unit beats by $0.03, beats on revs (UNT) 57.42 : Reports Q4 (Dec) earnings of $0.92 per share, $0.03 better than the Thomson Reuters consensus of $0.89; revenues rose 42.5% year/year to $252.6 mln vs the $242 mln consensus. Co currently anticipate 2011 production of 66.0 to 68.0 Bcfe.

9:17AM IberiaBank to purchase certain assets of the Florida Trust Company (BOFL) (IBKC) 57.17 : Co to purchase certain assets of the Florida Trust Company, a wholly-owned subsidiary of the Bank of Florida Corporation. Approval is subject to specific conditions. The Florida Trust Company team will join IBERIA Wealth Advisors, the trust and asset management division of IBERIABANK. IBERIABANK will pay the Bank of Florida Corporation an initial payment of $0.7 million and a contingent payment of up to $0.7 million. The contingent payment will be paid approximately one year after the consummation of the transaction and will be determined based on the amount of revenue realized by IBERIABANK during that period from former Florida Trust Company clients. Florida Trust Company, which was incorporated in 2000, currently has $460.0 million in assets under management and operates offices in Naples and Ft. Lauderdale, Florida.

9:17AM On The Wires (WIRES) :

* Cal Dive International (DVR) announced that it has been awarded a contract by Pemex Exploracion y Produccion for the installation of a 20" inch subsea pipeline located in the Abkatun Field in 24 meters of water. The lump sum contract will generate total revenue of ~$24 million and will utilize two of the Company's key assets.
* Shoebuy.com, an operating business of IAC (IACI), announced its partnership with HookLogic, provider of e-commerce media services and solutions. The strategic alliance will enable Shoebuy to offer premium brand and product placements within its online store, creating new and innovative merchandizing opportunities for its current brand partners to reach active shoppers at the point of sale.
* XETA Technologies (XETA) announced the launch of its new hospitality business unit, XETA Hospitality Solutions.
* Synopsys (SNPS) announced the immediate availability of the silicon-proven DesignWare Data Converter IP for SMIC's popular 65-nanometer Low Leakage process technology, enabling designers to improve their chips' power efficiency and ease their integration efforts.
* Verizon Wireless (VZ) and Motorola Mobility (MMI) announced the Feb. 24, 2011 availability of the innovative new Motorola XOOM tablet. The first device to run Google's new Android 3.0 Honeycomb operating system, the Motorola XOOM will be available for purchase from Verizon Wireless for $599.99 with a new two-year customer agreement or $799.99 without a contract. Wireless 3G data service for the Motorola XOOM will begin at $20 monthly access for 1GB.

9:16AM Orchids Paper Products announced the initiation of quarterly cash dividend policy and authorized a dividend of $0.10 per outstanding share (TIS) 11.91 :

9:09AM Inuvo secures an $8.475 mln credit facility with Bridge Bank, N.A. a subsidiary of Bridge Capital Holdings (BBNK) (INUV) 2.90 : The new facility will be used primarily to satisfy working capital needs and is expected to reduce the co's effective cost of capital by ~200 basis points annually, as compared to the prior facility.

9:08AM Dynavax Technologies reports new Phase 1a and Phase 1b Data for universal flu vaccine candidate: demonstrates that N8295 has the attributes co intended (DVAX) 3.08 : Co announces results of Phase 1a and Phase 1b safety and immunogenicity data for its universal flu candidate vaccine. Data from the Phase 1a and the Phase 1b study, initiated in September 2010, showed:

* N8295 alone or combined with H5N1 vaccine was very safe and generally well tolerated
* The most common adverse events were mild, self-limited injection site reactions
* There were no SAEs
* All N8295 dose groups had an antibody response to M2e, and the placebo group did not
* All N8295 dose groups had an antibody response to NP, and the placebo group did not
* All N8295 dose groups had a cellular immune response to NP, and the placebo group did not
* The addition of N8295 to a non-immunogenic dose of H5N1 vaccine resulted in H1 responses in all N8295 dose groups

9:06AM Sempra Energy raises annual dividend 23% to $1.92 per share (SRE) 53.30 :

9:06AM Amazon.com confirms Amazon Prime Members now get unlimited streaming of more than 5K movies and tv shows at no additional cost (AMZN) 186.50 : Co announced the launch of a new benefit for Amazon Prime members: unlimited, commercial-free, instant streaming of more than 5,000 movies and TV shows. This new benefit is being added at no additional cost -- Prime membership will continue to be $79 per year. Amazon Prime is a membership program that offers customers unlimited free Two-Day Shipping with no minimum purchase requirement for only $79 a year.

9:05AM Zoran: Ramius expresses concern with ZRAN's deal to merge with CSR Plc; believes the transaction may undervalue Zoran (ZRAN) 9.33 :

9:04AM Hi-Tech Pharmacal receives FDA final approval for co's Abbreviated New Drug Application for gabapentin oral solution 250mg/5mL, the generic for Pfizer's (PFE) Neurontin oral solution (HITK) 23.41 : Co announces that the FDA granted final approval for the co's Abbreviated New Drug Application for gabapentin oral solution 250mg/5mL, the generic for Pfizer's (PFE) Neurontin oral solution, which had sales of $15 mln for the 12 months ended December 2010 according to IMS sales data. The product is indicated for postherpetic neuralgia and epilepsy.

9:03AM Cameco has appointed Tim Gitzel to be the next CEO, effective July 1, 2011, as envisioned by the co's succession plan (CCJ) 41.90 : Jerry Grandey has confirmed his intention to retire as CEO and as a board member at the end of June 2011.

9:03AM China Sky One Medical Provides Update on SAIC Reports; corrected financial reports for 2007, 2008 and 2009 have been submitted to the local SAIC (CSKI) 4.72 : Co provided an update regarding its progress in amending financial reports previously filed with the State Administration for Industry and Commerce, the PRC governmental agency responsible for issuing and renewing the Company's business license. According to the Company, corrected financial reports for 2007, 2008 and 2009 have been submitted to the local SAIC offices in the jurisdictions in which the Company's subsidiaries are located. The Company believes that the financial information included in the amended reports is consistent with the information included in reports filed by the Company with the U.S. Securities and Exchange Commission. As previously reported, the Company believes that, should the SAIC impose a penalty in connection with amending these financial reports, such penalty will not be material.

9:03AM Expeditors Intl reports EPS in-line, misses on revs (EXPD) 54.83 : Reports Q4 (Dec) earnings of $0.45 per share, in-line with the Thomson Reuters consensus of $0.45; revenues rose 26.9% year/year to $1.58 bln vs the $1.69 bln consensus.

9:02AM Flexible Solutions has purchased and cancelled 792,576 shares of its common stock for $1.30 per share for a total expenditure of $1,030,349 (FSI) 1.42 :

9:01AM Vitacost.com names Jeffrey J. Horowitz as Chief Executive Officer (VITC) 5.70 : Co announced that its Board of Directors has named Jeffrey J. Horowitz as the Company's Chief Executive Officer. Mr. Horowitz had been currently serving as the company's interim Chief Executive Officer since August 16, 2010 and was appointed to the Board of Directors on August 3, 2010.

9:01AM Caraco Pharma to merge with Sun Pharma; Shareholders to receive $5.25/share (CPD) 4.72 : Co announced that on February 21, 2011 it entered into a merger agreement with Sun Pharma. Sun Pharma and Sun Global collectively own 75.8% of Caraco common stock. The merger agreement provides that all shareholders of Caraco other than Sun Pharma and Sun Global will receive a cash payment of $5.25 per share upon the closing of the transaction. As previously disclosed, Sun Pharma and Sun Global had proposed a "going private" transaction by which Sun Pharma, Sun Global and/or one or more of their affiliates would acquire all of the outstanding shares of Caraco common stock not held by Sun Pharma and Sun Global for a per share consideration of $4.75 cash. Caraco entered into the merger agreement based upon the recommendation and approval of the Independent Committee of Caraco's Board of Directors and the approval of the Board of Directors. The Independent Committee was advised by William Blair & Company, as its independent financial advisor and Carrington Coleman as its independent legal counsel. Upon completion of the transaction, Caraco will become a privately held company and its common stock will no longer be traded on the NYSE Amex.

9:01AM Clearfield announced that its Chief Financial Officer Bruce Blackey unexpectedly passed away on Friday, February 18 (CLFD) 5.35 : (Stock is halted)

9:00AM Tennant reports EPS in-line, beats on revs; guides FY11 EPS above consensus, revs above consensus (TNC) 42.64 : Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.40; revenues rose 11.3% year/year to $182.8 mln vs the $174.9 mln consensus. Co issues upside guidance for FY11, sees EPS of $1.70-1.90 vs. $1.69 Thomson Reuters consensus; sees FY11 revs of $705-725 mln vs. $703.53 mln Thomson Reuters consensus.

8:57AM Coca-Cola FEMSA reports Q4 results (KOF) 76.00 : Total Q4 revenues reached Ps. 27,991 million in the fourth quarter of 2010, a decrease of 3.6% YoY mainly as a result of the devaluation of the Venezuelan bolivar. Consolidated operating income grew 5.2% to Ps. 5,080 million for the fourth quarter of 2010, driven by double-digit operating income growth recorded in our Latincentro division. Their operating mar. Consolidated net controlling interest income grew 6.9%, reaching Ps. 3,022 mln in the fourth quarter of 2010, resulting in earnings per share of Ps. 1.64 in the fourth quarter of 2010. "In the face of unusually bad weather conditions across our Mexico and Latincentro divisions during an important part of the year and the effect of the devaluation of the Venezuelan bolivar, we believe the strength of our diversified, defensive business profile enabled us to produce top-line growth for 2010. Our operators' disciplined ability to navigate and adapt our business to challenging, complex market environments produced increased profitability for the fourth quarter and the full year, despite the volatility of sugar costs throughout 2010."

8:50AM On The Wires (WIRES) :

* CPI Aerostructures (CVU) announced it has received a purchase order to manufacture seats for the E-2D Advanced Hawkeye aircraft from Northrop Grumman Corporation (NOC) valued at ~$4 million.
* FEI (FEIC) and CEA-Leti announced the cos have entered into a three year agreement to characterize advanced semiconductor materials for the 22nm technology node and beyond.

8:45AM Sparton Corporation acquire assets of Byers Peak for $4.35 million in cash (SPA) 7.75 : The acquisition expected to provide $10 million in annual revenue and is expected to be accretive to earnings no later than co's fiscal 2012 second quarter.

8:40AM On The Wires (WIRES) :

* American Science and Engineering (ASEI) announced the receipt of a $16.3 million order for multiple Z Backscatter Vans for three agencies in a Latin American country, including existing ZBV system users in law enforcement and customs, and the first AS&E purchase for the Latin American military organization.
* Infinity Pharmaceuticals (INFI) announced the initiation of the randomized Phase 2 portion of the trial of IPI-926 in combination with gemcitabine in patients with previously untreated, metastatic, pancreatic cancer. The Phase 2 portion of the trial is a double-blind study that will compare treatment with IPI-926 in combination with gemcitabine to treatment with placebo and gemcitabine.
* Regeneron Pharmaceuticals (REGN) announced that the company submitted a Biologics License Application to the U.S. Food and Drug Administration for VEGF Trap-Eye for the treatment of the neovascular form of age-related macular degeneration.
* China Agritech (CAGC) announced that it has expanded its sales partnership with China National Agrochemical Corporation for the Company's Green Vitality organic granular compound fertilizer products. Pursuant to the agreement, China Agritech will supply Green Vitality organic granular compound fertilizers worth an estimated value of RMB 44 million (~US$6.8 million) through December 2011.
* Mercer International (MERC) announced that it has completed a preliminary feasibility analysis for its Celgar and Stendal mills with respect to enhancing their operations and margins. In addition to other enhancements, the preliminary analysis identified that, for a capital cost of approximately $30 to $40 million per mill, they could have the capacity to produce NBSK pulp, as currently, and dissolving pulp when market conditions are favourable.
* Worthington Industries (WOR) announced that it has reached an agreement in principle with Marubeni-Itochu Steel America to combine Dietrich Metal Framing and ClarkWestern Building Systems in a newly-formed joint venture. In the transaction, MISA will acquire a 75% interest of the joint venture, and Worthington will acquire a 25% interest.
* UPS (UPS) announced it has purchased another 48 heavy tractor trucks equipped to run on Liquefied Natural Gas, bolstering its continuing effort to reduce the emissions of its truck fleet while taking a step toward energy security.
* NET Federal, a wholly-owned subsidiary of Network Equipment Technologies (NWK), announced that it has received a contract award in excess of $3 mln of maintenance services, provided on a subcontract basis, for the Defense Information Services Agency of the Department of Defense.
* ViaSat (VSAT) has been awarded a Limited Production order valued at $6.8 million for Multifunctional Information Distribution System Joint Tactical Radio System terminals for the U.S. government.
* CACI International (CACI) announced that it has been awarded a $20 million task order contract to provide support services for the Joint Improvised Explosive Device Defeat Organization's Strategic Plans and Policy Division and Command, Control Communications and Computer Systems Division.

8:39AM General Mills reaffirms FY11 guidance for $2.46-2.48 vs $2.48 Thomson Reuters consensus; sees low single-digit growth in net sales, vs. consensus of +1.2% rev growth (GIS) 36.10 : Co says results through the fiscal year's first half, ended Nov. 28, 2010, generally tracked in line with strong year-ago performance as anticipated. Results for the fiscal second half are expected to show good sales and earnings increases, with gross margin expansion and faster earnings growth anticipated in the final quarter of the year.

8:35AM Barnes & Noble misses by $0.13, misses on revs; suspends dividend; does not issue guidance citing BGP bankruptcy as reason (BKS) 18.61 : Reports Q3 (Jan) earnings of $1.00 per share, $0.13 worse than the Thomson Reuters consensus of $1.13; revenues rose 6.9% year/year to $2.33 bln vs the $2.38 bln consensus. Barnes & Noble.com comparable sales increased 64% as compared to a year ago. Barnes & Noble comparable store sales increased 7.3%, exceeding the co's forecast for an increase of 5% to 7%. Online and bookstore sales benefited from strong consumer demand for NOOK products and related accessories as well as the company's expanded Toys & Games selection. Due to a competitor's recent announcement that their co has filed for Chapter 11 bankruptcy protection and the potential short-term impact that their announced store closures may have in the marketplace, the co has decided not to issue sales or earnings guidance for the balance of fiscal 2011. Additionally, the co's Board of Directors has decided to suspend its quarterly dividend payment of $0.25 per share. This will provide the co the financial flexibility to continue investing into its high growth digital strategies, while simultaneously allowing the co to take advantage of any other market opportunities that may present themselves. Barnes & Noble College Booksellers comparable store sales decreased 2.2% as compared to the prior year period. "In the digital area, our eContent business continues to scale quickly such that we now sell twice as many ebooks as we do physical books at BN.com. NOOK Color, launched in the third quarter, was named the best dedicated eReader by the Associated Press. We're very encouraged by the sell-through of that break-through device, as well as the newly launched NOOK Newsstand subscription service and NOOK Kids children's digital library. At retail, our enhanced Educational Toys & Games experience drove 47% comparable growth in the stores, and gives families yet another reason to feel good about shopping at Barnes & Noble."

8:35AM Genuine Parts beats by $0.05, beats on revs (GPC) 55.25 : Reports Q4 (Dec) earnings of $0.75 per share, $0.05 better than the Thomson Reuters consensus of $0.70; revenues rose 13.8% year/year to $2.81 bln vs the $2.74 bln consensus. "We enter 2011 with a degree of optimism in each of our four businesses, and with a continued corporate-wide commitment to sustaining good revenue growth, further improving operating margins, generating solid cash flows and maintaining a strong balance sheet."

8:33AM Mediacom Comm: Glass Lewis Joins Institutional Shareholder Services in recommending stockholders vote "FOR" the Mediacom Communications merger (MCCC) 8.78 :

8:32AM Perrigo confirms filing for generic version of Taclonex ointment; announcses lawsuit by Leo Pharma (PRGO) 75.70 : Co announced that it has filed an Abbreviated New Drug Application for calcipotriene 0.005% and betamethasone dipropionate 0.064% ointment, a generic form of Taclonex? Ointment. Another generic company is the first to file on this product.

8:32AM Contango Oil & Gas receives all necessary permits and expects to spud its wildcat exploration well, Vermillion Island 170, later this evening (MCF) 59.33 : Co announces it has received all necessary permits and expects to spud its wildcat exploration well, Vermillion Island 170, later this evening. The Company will pay 100% of drilling costs, estimated to be ~$10.0 mln.

8:31AM Gilead Sciences to acquire Calistoga Pharmaceuticals for $375 mln (GILD) 39.30 : Co and Calistoga Pharmaceuticals announced the signing of a definitive agreement pursuant to which Gilead will acquire Calistoga for $375 mln. Calistoga could earn up to an additional $225 mln if certain milestones are achieved. Gilead anticipates that the deal will close in the second quarter of 2011, subject to satisfaction of certain closing conditions, and plans to finance the acquisition through available cash on hand.

8:31AM Graymark Healthcare reports record January resupply orders, Up 225% (GRMH) 0.74 : Co announces that it realized a 225% year-over-year increase in patient resupply shipments in January, a record level for what is typically a slow month. In January, co shipped 659 re-supply parts relating to their Continuous Positive Airway Pressure (CPAP) machines and also realized growth in the number of sleep studies performed through their higher margin outreach programs. The number of sleep therapy setups also increased versus January 2010.

8:30AM Ivanhoe Mines announces a 50% increase in Indicated Mineral Resources as part of an update of the NI 43-101 Mineral Resources for the Bakyrchik Deposit (IVN) 27.69 : Co announced a 50% increase in Indicated Mineral Resources as part of an update of the NI 43-101 Mineral Resources for the Bakyrchik Deposit, which is part of the company's Kyzyl Gold Project in northeastern Kazakhstan. Ivanhoe Mines owns 50% of Altynalmas Gold.

8:30AM Boise to acquire Tharco Packaging for $200 mln in cash (BZ) 9.55 : Tharco had revenue of $261 million and shipped 2.3 billion square feet of corrugated products. When complete, co expect annualized synergies of ~$8 million, achieved primarily through the increased integration. Co anticipate these synergies will be fully realized in 18 months. The acquisition will be financed using cash on hand and existing revolver capacity, with no material change to our leverage profile. Co expect the transaction to be accretive to itsearnings in the first year.

8:25AM Zoran discloses that it has entered a merger agreement with CSR for an equity value of ~$679 mln; ZRAN shareholders will receive ~$13.03 per share in CSR shares (ZRAN) 9.32 : Zoran shareholders will receive ADSs representing the equivalent of 1.85 ordinary shares of CSR for each share of Zoran common stock held, which, as at close on 18 February 2011 represents a value of US$13.03 per share of Zoran common stock. In addition, CSR announces that it intends to return up to US$240 million to shareholders via an on-market share buyback programme. The Share Buyback is intended to achieve an overall financial impact on CSR broadly equivalent to a transaction structured with ~65% stock and 35% cash. The Share Buyback, which will replace the US$50 million programme announced on 13 September 2010, of which approximately US$37 million has been expended, is expected to commence as soon as practicable following this announcement.

8:14AM Tollgrade to be acquired by an affiliate of Golden Gate Capital in an all-cash transaction valued at ~$137 mln, or $10.10 per share of common stock (TLGD) 10.08 : Co announces it has signed a definitive merger agreement to be acquired by an affiliate of Golden Gate Capital in an all-cash transaction valued at ~$137 mln. Co shareholders will receive $10.10 in cash per common share. Golden Gate Capital is a San Francisco-based private equity firm with more than $9 billion of capital under management.

8:12AM Perma-Fix Enviro appoints James Blankenhorn as COO (PESI) 1.49 : Co announced that Mr. James A. Blankenhorn has been hired as Chief Operating Officer of the Company. It is anticipated that Mr. Blankenhorn will begin his employment with Perma-Fix in late May 2011.

8:11AM Accelr8 Technology presents preliminary results in Pilot ICU study, plus advances in product engineering (AXK) 2.70 : Co announces results of research in which shows the BACcel system analyzes live microbial cells extracted directly from a patient specimen and eliminates the need for days of laboratory cultures. In previous research, the system demonstrated the ability to report quantitative identification within two hours after obtaining a specimen, and major drug resistance expression types within a total of six hours. Standard culturing methods require 2-3 days, which is too late to improve outcomes for critically ill patients who acquire drug-resistant infections with endemic hospital pathogens.

8:11AM Fabrinet proposes 6 mln share secondary offering by certain selling shareholders (identities not disclosed) (FN) 31.54 : Morgan Stanley & Co. International plc and J.P. Morgan Securities LLC are acting as joint book-runners for the offering, and Stifel Nicolaus & Company, Incorporated and Cowen and Company, LLC are acting as co-managers for the offering.

8:08AM Omnicare John L. Workman, CFO, has been appointed to the additional role of President, effective immediately (OCR) 26.96 :

8:08AM Conexant receives superior proposal from Golden Gate Capital; new proposal to acquire all of the outstanding shares of co's common stock at a price of $2.40 per share in cash (CNXT) 2.49 : Co announces that on February 21, 2011 it received a revised written proposal from an affiliate of Golden Gate Capital to acquire all of the outstanding shares of Conexant common stock at a price of $2.40 per share in cash. This is in lieu of previously announced definitive merger agreement on January 9, 2011 with Standard Microsystems (SMSC) in which stockholders would receive for each share of common stock $1.125 in cash and a fraction of a share of SMSC common stock equal to $1.125 divided by the volume weighted average price of SMSC common stock for the 20 trading days ending on the second trading day prior to closing, but in no event more than 0.04264 nor less than 0.03489 shares of SMSC common stock.

8:07AM Chipmos Technology reports Jan revs +24.5% YoY to $53.4 mln; up 1.9% sequentially (IMOS) 7.39 : Revenue for the month of January 2011 was NT$1,548.8 million or US$53.4 million, an increase of 1.9% from the month of December 2010 and an increase of 24.5% from the same period in 2010.

8:05AM PFSWeb completes the sale of certain assets of eCOST.com to a new subsidiary of PC Mall (MALL) for $2.3 mln; expected to be mildly accretive to MALL FY11 (PFSW) 3.60 : Co announces that it has acquired through a new subsidiary assets of eCOST.com, a subsidiary of PFSweb, (PFSW), including various intangible assets and ~$1 mln of inventory, for $2.3 mln. eCOST's sales under were ~$76 mln in the 12 months ending September 30, 2010. MALL expect this acquisition to be mildly accretive in our fiscal year ending 2011.

8:04AM Public Service misses by $0.02; guides FY11 EPS below consensus (PEG) 31.74 : Reports Q4 (Dec) adjusted earnings of $0.60 per share, $0.02 worse than the Thomson Reuters consensus of $0.62. Co issues downside guidance for FY11, sees EPS of $2.50-$2.75 vs. $2.80 Thomson Reuters consensus.

8:02AM Clinical Data: Forest Laboratories (FRX) to acquire Clinical Data for $30.00/share in cash plus contingent consideration of up to $6.00/share that may be paid upon achievement of certain commercial milestones (CLDA) 33.70 : The cos have entered into a definitive merger agreement pursuant to which Forest will acquire Clinical Data, a specialty pharmaceutical company focused on the development of first-in-class and best-in-category therapeutics, for $30.00 per share in cash plus contingent consideration of up to $6.00 per share that may be paid upon achievement of certain commercial milestones related to Viibryd. Forest will finance the transaction with existing cash. The transaction was approved by the boards of both companies and is expected to be completed in the second quarter of 2011... The transaction is expected to be dilutive, net of synergies, to Forest's earnings per share for the next three fiscal years, with EPS dilution in the range of ($0.55) to ($0.65) in fiscal 2012. The transaction may become accretive during fiscal 2014. The transaction is not expected to impact Forest's fiscal year 2011 financial guidance. Under the terms of the definitive merger agreement, it is anticipated that Forest will promptly commence a cash tender offer to purchase all of the outstanding shares of Clinical Data common stock for $30.00 per share in cash and the non-transferable contractual right that could deliver up to an additional $6.00 per share in cash if U.S. net sales of Viibryd over four consecutive fiscal quarters commencing from the date of the closing of the transaction reach or exceed $800 mln within the first 5 years ($1.00 per share), $1.1 bln within the first 6 years ($2.00 per share) and $1.5 bln within the first 7 years ($3.00 per share).

8:02AM Innovaro enters into agreement with Asian telecom leader; total value of the relationship with Innovaro in connection with the project to ~$6 mln (INV) 1.30 : Co entered into an agreement with a major Asian telecommunications company to provide it with additional consulting services through its Strategos consulting services division. Under the agreement, Innovaro will assist the client in developing, selecting, and implementing new business ideas and opportunities within high-priority domains. This agreement represents the third project phase of Innovaro's relationship with the client, which has been ongoing for the past year. This phase is planned for completion within the first half of 2011. The value of the agreement to Innovaro is ~$3.35 mln for the provision of its services under the agreement, which will bring the total value of the relationship with Innovaro in connection with the project to ~$6 mln.

8:02AM Gammon Gold confirmed that advanced negotiations with the union are currently underway (GRS) 9.28 : Co provide an update on recent developments at the Company's El Cubo mine located in Guanajuato State, Mexico. "In response to reports issued by the Mexican media that have indicated an end to the 8-month labour disruption, the Company wishes to clarify the status of current negotiations with the El Cubo union. The Company confirms that advanced negotiations with the union are currently underway and while the Company is optimistic that a resolution to the work stoppage will be finalized in the near term, a definitive agreement with the union has not been reached. As this time, the union continues to restrict access to the mine facilities. However, as a sign of good faith, representatives from both the Company and the union will be inspecting the underground mine facilities today to determine the possible level of remediation requirements before mining activities could resume. The Company will provide further updates as warranted."

7:53AM On The Wires (WIRES) :

* Derma Sciences (DSCI) announced that researchers who invented DSC127 have been awarded a $4.5 million, 16-month grant by the U.S. Department of Health and Human Services' Biomedical Advanced Research and Development Authority to investigate preclinically the use of DSC127 in the treatment of skin injuries associated with acute radiation exposure.
* Jacobs Engineering Group (JEC) announced that it signed a contract in Dec. 2010, with the Saudi Industrial Investment Group and Arabian Chevron Phillips Petrochemical Company Limited to provide engineering, procurement and construction management services for a polyamide 6,6 manufacturing plant and a number of polymer conversion projects.
* Science Applications International Corporation (SAI) announced it was awarded a contract extension by the National Aeronautics and Space Administration for the Unified NASA Information Technology Services contract to continue providing a broad range of information technology services in support of the NASA Information Technology Service Network. The extension has an eight-month base period of performance, valued at more than $36 million, and options that would total 14 months of performance for the continuation of services through March of 2012. The total value of the extension is more than $62 million if all options are exercised.

7:37AM On The Wires (WIRES) :

* Alliance Data Systems Corporation (ADS) announced it has signed a new, long-term agreement to provide private label credit card services to J.Jill. J.Jill has more than 200 retail stores nationwide and strong catalog and web businesses.
* TeleCommunication Systems (TSYS) announced that it has received a contract from the Florida National Guard to design and deliver a deployable Global System for Mobile Communications solution. The $3.8 million contract award includes three years of continued support.
* Conmed Healthcare Management (CONM) has signed a full-service agreement with Haywood County, Tennessee, to provide correctional healthcare services for the new Haywood County Jail in Brownsville for an initial three-year term, beginning April 1, 2011, with the option for ongoing mutually agreed one-year renewals. The agreement, valued at ~$1.4 mln, includes hosting services, related professional services, maintenance and support.
* Tyler Technologies (TYL) has signed a seven-year software as a service contract with McLennan County, Texas, for Tyler's Munis enterprise resource planning solution. The agreement, valued at ~$1.4 mln, includes hosting services, related professional services, maintenance and support.

7:34AM Sonic Automotive beats by $0.04, beats on revs; guides FY11 EPS (SAH) 14.80 : Reports Q4 (Dec) earnings of $0.30 per share, $0.04 better than the Thomson Reuters consensus of $0.26; revenues rose 17.0% year/year to $1.84 bln vs the $1.81 bln consensus. Co issues guidance for FY11, sees EPS of $1.18-1.28 vs. $1.28 Thomson Reuters consensus. "We expect to see continued steady growth in the automotive retailing sector. We are targeting 2011 new vehicle industry volume of 12.5 million units."

7:33AM Diana Shipping misses by $0.01, beats on revs (DSX) 12.56 : Reports Q4 (Dec) earnings of $0.40 per share, $0.01 worse than the Thomson Reuters consensus of $0.41; time charter revenues rose 24.4% year/year to $73 mln vs the $69.3 mln consensus.

7:32AM Chemed approves $100 mln stock repurchase program (CHE) 65.32 : These share repurchases will be funded through a combination of cash generated from operations as well as utilization of its revolving credit facility.

7:32AM ConAgra reaffirms FY11 low single-digit rate of EPS growth vs 2010 vs consensus of 1.7% growth (CAG) 22.76 : Co announces that it will provide a company update to analysts and investors at the annual Consumer Analyst Group of New York Conference in Boca Raton, Fla. CEO Gary Rodkin and Chief Financial Officer John Gehring will present the company's accomplishments and outlook. With regard to the long-term financial outlook, co will state: 1) co expects ~3% annual sales growth. 2) Co expects 6-8% EPS growth annually, adjusted for items impacting comparability. 3) Co expects Return on Invested Capital to be 13-14%. 4) Paying a top-tier dividend is a priority for the company. 5) Co expects to repurchase shares and invest in growth, both organically and through acquisitions, as opportunities arise. As part of co's efficiency initiatives, co will note a recently approved restructuring plan that will result in an estimated $65 million of pre-tax charges over an 18-month period. ~$25 million of these charges represent a cash outlay.

7:26AM Heidrick & Struggles misses by $0.08, beats on revs; guides Q1 revs in-line; guides FY11 revs in-line (HSII) 28.47 : Reports Q4 (Dec) earnings of $0.29 per share, $0.08 worse than the Thomson Reuters consensus of $0.37; revenues rose 15.7% year/year to $127.2 mln vs the $124.5 mln consensus. Co issues in-line guidance for Q1, sees Q1 revs of $122-128 mln vs. $125.78 mln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees FY11 revs of $515-545 mln vs. $535.40 mln Thomson Reuters consensus. The co is currently forecasting a 2011 first quarter operating margin of between 1 and 5 percent and a full year 2011 operating margin of between 6 and 10 percent. Net income and earnings per share in 2011 are expected to reflect a full-year effective tax rate of between 42 percent and 50 percent, but will be impacted by country-level results. "There are still mixed assessments of economic prospects around the world, but we expect growth in each of our regions, industry practice groups, and Leadership Consulting Services in 2011. Twenty-two new consultants have started to date in 2011 and we continue to recruit. We are delivering integrated solutions to our clients that address their leadership challenges. Simply put, Heidrick & Struggles is the leadership advisory firm helping the world be better led."

7:24AM Henry Schein beats by $0.04, beats on revs; guides FY11 EPS in-line (HSIC) 69.85 : Reports Q4 (Dec) earnings of $1.00 per share, $0.04 better than the Thomson Reuters consensus of $0.96; revenues rose 14.5% year/year to $2.02 bln vs the $1.98 bln consensus. Co issues in-line guidance for FY11, sees EPS of $3.88-3.98 vs. $3.92 Thomson Reuters consensus. The co announced that it repurchased 919,698 shares of its common stock during the fourth quarter at an average price of $57.54 per share. For the year the co repurchased $57.7 mln of its common stock. The impact of the repurchase of shares on fourth quarter and full year diluted EPS was immaterial. At the end of the Q4, the co had $100 mln authorized for future repurchases of its common stock.

7:23AM Encore Energy beats by $0.02, reports revs in-line (ENP) 23.28 : Reports Q4 (Dec) earnings of $0.32 per share, excluding items, $0.02 better than the Thomson Reuters consensus of $0.30; revenues rose 1.7% year/year to $47.4 mln vs the $47.4 mln consensus. Average daily production for 4Q10 was 6,004 Bbls of oil per day and 15,379 Mcf of natural gas per day, for a combined 8,567 BOE per day. Total proved oil and natural gas reserves at Dec 31, 2010 were 41.1 mln barrels of oil equivalent, consisting of 28.7 mln barrels of crude oil, condensate, and natural gas liquids and 74.5 bln cubic feet of natural gas. For 2011, co sees avg daily production of 7,930 to 8,350 BOE/D. Sees percentage oil, natural gas and natural gas liquids production 65%, 30% and 5% respectively.

7:23AM Steven Madden beats by $0.07, beats on revs; guides FY11 EPS above consensus (SHOO) 44.55 : Reports Q4 (Dec) earnings of $0.62 per share, $0.07 better than the Thomson Reuters consensus of $0.55; revenues rose 15.4% year/year to $161 mln vs the $157.9 mln consensus. Co issues upside guidance for FY11, sees EPS of $3.00-3.10 vs. $2.99 Thomson Reuters consensus. For the year ending December 31, 2011, the Company expects net sales to increase 20% - 22%. Excluding the transition of two businesses - a mass merchant private label business and the Olsenboye footwear business - from the commission income line to the net sales line on the income statement, the Company expects net sales to increase 10% - 12% during the year ending December 31, 2011. Consensus calls for +14% rev growth in 2011.

7:22AM V.F. Corp beats by $0.13, beats on revs; guides FY11 EPS, revs above consensus (VFC) 89.80 : Reports Q4 (Dec) earnings of $1.78 per share, excluding non-recurring items, $0.13 better than the Thomson Reuters consensus of $1.65; revenues rose 11.0% year/year to $2.13 bln vs the $2.03 bln consensus. Co issues upside guidance for FY11, sees EPS of $7.00-7.10 vs. $6.79 Thomson Reuters consensus; sees FY11 revs +8-9% YoY to $8.23-8.31 bln vs. $8.04 bln Thomson Reuters consensus. Operating margins are expected to be comparable to the 13.3% achieved in 2010. Reflecting higher product costs, gross margins are expected to decline, but by less than one percentage point, as margins will also continue to benefit from our changing business mix. We will continue to invest strongly in our brands, with the ratio of marketing spending to revenues remaining at approximately the same level in 2011 as in 2010. However, our overall SG&A spending will represent a lower percentage of revenues in 2011, reflecting the leverage from strong revenue growth.

7:20AM Medtronic beats by $0.02, reports revs in-line; guides FY11 EPS in-line (MDT) 41.27 : Reports Q3 (Jan) earnings of $0.86 per share, $0.02 better than the Thomson Reuters consensus of $0.84; revenues rose 2.9% year/year to $3.96 bln vs the $3.97 bln consensus. Co revises guidance for FY11, sees EPS of $3.38-3.40, including $0.02 dilution from Ardian vs. $3.40 Thomson Reuters consensus.

7:14AM On The Wires (WIRES) :

* Sycamore Networks (SCMR) and MLL Telecom announced they have signed a reseller agreement. The agreement allows MLL Telecom to resell Sycamore's IQstream Adaptive Content OptimizationTM solution.
* Maxwell Technologies (MXWL) announced that a leading producer of instrument transformers for the Russian utility grid has selected CONDIS capacitive voltage dividers produced by Maxwell's Swiss subsidiary for integration into thousands of capacitive voltage transformers that will be installed over the next several years as part of a multi-billion dollar renovation of Russia's utility infrastructure.
* Rural/Metro Corporation (RURL) announced that its Southwest Ambulance subsidiary was once again awarded the exclusive 911 emergency ambulance contract to serve the Sun City Fire District, which includes Sun City, Arizona. The contract has an initial term of three years, followed by two 3-year renewal terms, for a total possible length of nine years. The contract is expected to generate $4.1 million in net ambulance revenue annually.
* Reed's (REED) announced that it has formed a distribution partnership with Savannah Distributing Co.
* athenahealth (ATHN) and Microsoft Corp. (MSFT) announced a strategic alliance to launch an electronic health solution designed to improve the connectivity and communication between hospitals, physicians and patients.
* Omeros Corporation (OMER) announced that its exclusive license to phosphodiesterase 7 inhibitors from Daiichi Sankyo Co., Ltd. has been amended to include addiction and compulsive disorders in the field of use.
* China Security & Surveillance Technology (CSR) announced that the Special Committee of its Board of Directors, formed to consider, among other things, the letter received by its Board of Directors from its Chairman and CEO on January 28, 2011, and to evaluate any proposal that he may make as stated in the letter.

7:14AM Wal-Mart beats by $0.03, misses on revs; guides Q1 EPS in-line; guides FY12 EPS in-line (WMT) 55.38 : Reports Q4 (Jan) earnings of $1.34 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $1.31; revenues rose 2.4% year/year to $116.36 bln vs the $117.71 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.91-0.96 vs. $0.96 Thomson Reuters consensus. Co issues in-line guidance for FY12, sees EPS of $4.35-4.50, excluding non-recurring items, vs. $4.43 Thomson Reuters consensus. Co sees U.S. Q1 comps of -2% to flat vs +0.8% consensus. Q4 Walmart U.S. comparable store sales declined 1.8 percent in the 13-week period ended Jan. 28, 2011 vs. +0.4% consensus and -1 to +2% guidance. Sam's Club comparable sales, without fuel, increased 2.7 percent for the same period. Co sees FY12 cap-ex of $13.5-14.05 bln. Duke pointed out that under the leadership of President and CEO Bill Simon, Walmart U.S. is implementing a four-point plan designed to deliver better results. He acknowledged that it will take some time to see positive comparable store sales. "Some of the pricing and merchandising issues in Walmart ran deeper than we initially expected, and they require a response that will take time to see results. There is no greater priority for Bill or me than getting sales back into positive territory."

7:07AM Daktronics beats by $0.01, misses on revs; provides cautious near-term commentary (DAKT) 16.26 : Reports Q3 (Jan) earnings of $0.04 per share, $0.01 better than the Thomson Reuters consensus of $0.03; revenues rose 38.0% year/year to $99.9 mln vs the $101 mln consensus. Backlog at the end of the fiscal 2011 third quarter was ~$128 million, compared with a backlog of ~$100 million a year earlier and $121 million at the end of the second quarter of fiscal 2011. "As a result of the growing interest in our architectural lighting products, which we are manufacturing in our facility in China, we are currently in the process of adding capabilities and capacity to our manufacturing operations there. We expect to have this capacity on line by the end of the current fiscal year so we are ready for the growing sales opportunities that we see for this product line. This is an important initiative for us over the next six months to take advantage of the opportunity we see for growth with our line of architectural lighting products. Given the current makeup of our backlog and our dependence on some new product development initiatives that are required on a number of contracts, our Q4 net sales could be reduced by some projects getting pushed out into 1Q12. Therefore, although we expect net sales to rise in 4Q11 from the level of 3Q11, the amount of the increase may be limited. The competition for orders in the marketplace across all business units remains very keen, and we expect continued pressure on gross margins in 4Q11. We remain optimistic on the long-term outlook overall, subject to the natural volatility and the competitive pressures in the large contract business, and the performance of the overall economy."

7:05AM Bottomline Tech acquires Direct Debit; co expects the acquisitions to contribute ~$0.5 mln and 1.0 mln of rev in Q3 and Q4 respectively and be dilutive by ~ $0.02 in both Q3 and Q4 (EPAY) 22.02 : Direct Debit Limited is a London-based provider of payments automation software for direct debits and receivables management for corporations, banks, financial institutions and government organizations.

7:02AM Given Imaging announces that the UFDA has cleared revised labeling regarding the use of the SensorBelt in patients with a Body Mass Index of up to 43.3 kg/m2, reflecting the results of a recent clinical trial (GIVN) 20.02 :

7:01AM Nabors Industries extends pending exchange offer of its 5.0% Notes Due 2020 (NBR) 28.16 : Co announces that its subsidiary Nabors Industries has extended its pending exchange offer to exchange up to $700 mln aggregate principal amount of its 5.0% Notes due 2020 that have been registered under the Securities Act of 1933, as amended, for a like principal amount of its issued and outstanding unregistered 5.0% Notes due 2020.

6:55AM Unisys commences a cash tender offer for its 14 1/4% Senior Secured Notes due 2015 and 12 3/4% Senior Secured Notes due 2014; also announces an offering of 2.25 mln shares of mandatory convertible preferred stock (UIS) 41.00 : The maximum aggregate consideration for Notes purchased in the tender offer, excluding accrued and unpaid interest, will not exceed $220 mln. Co also announces that it has commenced a public offering of 2,250,000 shares of mandatory convertible preferred stock. The mandatory convertible preferred stock has an offering price of $100 per share and will be mandatorily convertible into shares of Unisys common stock on March 1, 2014. Co intends to use the net proceeds from this offering to redeem up to an aggregate of $98.7 million of co's 12 3/4% Senior Secured Notes due 2014 and up to an aggregate of $86.3 million of co's 14 1/4% Senior Secured Notes due 2015 under the provisions of the indentures relating to the notes that allow the Company to redeem, at its option, up to 35% of the original aggregate principal amount of each series of notes from the net cash proceeds of one or more equity offerings. Goldman, Sachs & Co. and Citi will act as joint book-running managers for the offering. RBS will act as co-manager for the offering.

6:54AM On The Wires (WIRES) :

* Bank of America (BAC) announced that, in a move that does not affect co's current or previously reported consolidated financial results and capital positions, co has amended previously filed call reports for 2009 and 2010 for its FIA Card Services, N.A. subsidiary.
* Huaneng Power International (HNP) announced that its wholly-owned Huaneng Liaoning Changtu Taiping Wind Power Project has recently been approved by Liaoning Provincial Development and Reform Commission of the People's Republic of China. The total investment amount of the Project is estimated to be ~RMB469 million, with a planned installed capacity of 49.5MW for installation of 33 wind power generating units of 1.5MW each.
* JinkoSolar Holding (JKS), announced that it has entered into an agreement, which is the first between the two companies, to supply a total of 35 megawatts of JinkoSolar branded solar modules to Payom Solar AG of Germany in 2011.

6:54AM Flowserve announces a quarterly cash dividend increase to $0.32 per share from $0.29 per share (FLS) 130.33 : The dividend is payable on April 14, 2011, to shareholders of record as of the close of business on March 31, 2011.

6:53AM Asbury Automotive beats by $0.02, beats on revs (ABG) 18.30 : Reports Q4 (Dec) earnings of $0.37 per share, $0.02 better than the Thomson Reuters consensus of $0.35; revenues rose 22.2% year/year to $1.02 bln vs the $0.99 bln consensus. Reports Q4 total same store revenues up 21% over the prior year period; New vehicle same store unit sales up 23% YoY; Used vehicle same store unit sales up 22% YoY. Co acquired 9 franchises in the 4Q10 with total estimated annual revenues of $160 mln and sold 1 franchise with 2010 revenues of $9 mln.

6:45AM Quicksilver Resrcs announces reserves increase 20% to 2.9 tcfe; production increases 9% to 130 bcfe; all-in finding, development & acquisition cost of $1.29 per mcfe; drill-bit development cost of $0.94 per mcfe (KWK) 15.12 :

6:44AM On The Wires (WIRES) :

* Canadian Solar (CSIQ), announced it has entered into a sales contract with S.A.G. Solarstrom AG, based in Freiburg, Germany. Under terms of the contract, shipments will start in March, with Canadian Solar expected to supply 60 MW of PV modules to S.A.G. Solarstrom AG in 2011 for deployment in Germany and Italy.
* Canadian Solar (CSIQ), in partnership with Energy Resources, has provided modules used in the creation of SolarLAB2, an open-air solar laboratory intended to study the integration of photovoltaic technology for prefabricated roofing.
* Vical Incorporated (VICL) announced that the company has extended its relationship with the U.S. Naval Medical Research Center to develop its platform technology for the rapid development and production of vaccines against emerging infectious diseases.
* China Cord Blood Corporation (CO) announced the formation of Zhejiang Lukou Biotechnology, an indirect non-wholly owned subsidiary with the Zhejiang Provincial Blood Center, pursuant to the Company's framework agreement announced in September 2010.
* NIVS IntelliMedia Technology Group (NIV) announced that it has won its first order from China Mobile Limited (CHL).
* RADCOM (RDCM) announced that a Tier-1 operator in Brazil has selected RADCOM's Service Assurance Solution to monitor their NGN network. This deal is valued at $2 mln.

6:43AM Goodrich Petroleum announces $225 million offering of senior notes (GDP) 19.70 : Co announces that it intends to offer $225 million in aggregate principal amount of senior notes due 2019 in a private placement to eligible purchasers. Co intends to place a portion of the net proceeds of this offering into escrow, to be used for the redemption in December 2011 of its $175 million outstanding 3.25% convertible senior notes due 2026 or to repurchase such convertible notes prior to redemption. Any remaining net proceeds are intended to be used for general corporate purposes, including funding a portion of the Company's 2011 capital expenditure program.

6:38AM Medco Health Solutions reports EPS in-line, beats on revs; reaffirms FY11 EPS guidance (MHS) 64.78 : Reports Q4 (Dec) earnings of $0.94 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.94; revenues rose 11.1% year/year to $16.93 bln vs the $16.65 bln consensus. Co reaffirms guidance for FY11, sees EPS of $3.99-4.12, excluding non-recurring items, vs. $4.08 Thomson Reuters consensus. During the fourth quarter of 2010, Medco repurchased a total of 15.8 mln shares at a total cost of $963.3 mln and an average per-share cost of $61.05. For 2011 to-date, Medco repurchased 7.0 mln shares with an average per-share cost of $62.06. Total prescription volume, adjusting for the difference in days supply between mail-order and retail, was a record 244.3 mln, a 7.4 percent increase over the fourth quarter of 2009. Medco's generic dispensing rate increased 3.9 percentage points from fourth-quarter 2009 to a record 72.2 percent. The mail-order generic dispensing rate increased 4.6 percentage points to a record 62.9 percent and the retail generic dispensing rate increased 3.8 percentage points to a record 73.8 percent.

6:35AM American Wdmrk beats by $0.11, beats on revs (AMWD) 20.74 : Reports Q3 (Jan) loss of $0.41 per share, $0.11 better than the Thomson Reuters consensus of ($0.52); revenues rose 24.9% year/year to $111.4 mln vs the $97.2 mln consensus.

6:34AM RR Donnelley & Sons beats by $0.05, beats on revs (RRD) 19.39 : Reports Q4 (Dec) earnings of $0.51 per share, $0.05 better than the Thomson Reuters consensus of $0.46; revenues rose 4.7% year/year to $2.7 bln vs the $2.66 bln consensus.

6:33AM Hormel Foods beats by $0.12, beats on revs; raises FY11 EPS above consensus (HRL) 26.92 : Reports Q1 (Jan) earnings of $0.55 per share, $0.12 better than the Thomson Reuters consensus of $0.43; revenues rose 11.3% year/year to $1.92 bln vs the $1.86 bln consensus. Co raises guidance for FY11, sees EPS of $1.62-1.68 vs. $1.61 Thomson Reuters consensus, up from $1.55-1.60. "Due to our strong results in the first quarter, we are raising our full year guidance range from $1.55 to $1.60 per share to $1.62 to $1.68 per share. We expect to see higher input costs the balance of the year, and our team will continue to tackle the challenge of offsetting these added costs with pricing and efficiency gains. Nevertheless, we believe our strong portfolio of branded products and our balanced model should allow us to build upon the momentum of our excellent start... We are pleased to report double-digit increases in both sales and earnings for the quarter. All five segments generated year-over-year sales growth. Earnings growth was led by excellent performance by our Jennie-O Turkey Store and Refrigerated Foods segments."

6:30AM Gold Resource announces drilling returns highest grade intercepts to date including 11 meters down hole of 37.48 grams gold per tonne and 2183 grams silver per tonne (GORO) 24.63 : Co announces development drilling returns highest grade intercepts to date including 11 meters down hole of 37.48 grams gold per tonne and 2183 grams silver per tonne within 28.6 meters of 21.64 grams gold per tonne and 2178 grams silver per tonne from its Arista deposit. Co expects initial production from its high-grade Arista deposit, located at its El Aguila Project, in the next few weeks.

6:26AM Trina Solar beats by $0.78, beats on revs; sees Q1 shipment volume higher QoQ (TSL) 29.41 : Reports Q4 (Dec) earnings of $1.87 per share, $0.78 better than the Thomson Reuters consensus of $1.09; revenues rose 104.9% year/year to $641.8 mln vs the $525.3 mln consensus. Gross margin was 31.4% in the fourth quarter of 2010, compared to the co's previous guidance of ~30%, and was primarily due to higher than targeted ASP. The fourth quarter gross margin compares to 31.4% in the third quarter of 2010 and 32.6% in the fourth quarter of 2009. Gross margin relating to the co's in-house wafer production to module production was 36.5% in the fourth quarter of 2010, compared to its previous guidance of mid 30s in percentage terms, and 37.6% in the third quarter of 2010. For the first quarter of 2011, the co expects its shipment volume for PV modules to be slightly higher than that for the fourth quarter of 2010. The co expects its gross margin relating to its in-house wafer production to module production to be ~30% during the first quarter of 2011. The co believes its overall gross margin, taking into account wafer and cell requirements outsourced to third party suppliers to meet demand in excess of its internal capacity, for the first quarter will be in the mid to high 20s in percentage terms. To meet expected demand for its PV solar modules, the co expects to raise its annualized in-house ingot and wafer production capacity, as well as PV cell and module production capacity to reach approximately 1.2 GW and 1.9 GW, respectively, in the second half of 2011, based on actual manufacturing yield.

6:23AM Frontier Oil and Holly (HOC) announce an all-stock merger of equals; FTO to pay special dividend of $0.28 per share (FTO) 28.12 : TexaHolly Corporation and Frontier Oil Corporation announces that the Boards of Directors of both companies have unanimously approved a definitive merger agreement under which the companies will combine in an all-stock merger of equals transaction. Based on the closing market prices for the shares of both companies on Friday, February 18, 2011, and their debt levels as of December 31, 2010, the new company would have an enterprise value of $7 bln. The new company will be named HollyFrontier Corporation and will be headquartered in Dallas, s, the location of Holly's current headquarters. Mike Jennings, current Chairman, President and CEO of Frontier, will serve as President and Chief Executive Officer of the combined company. Matt Clifton, current Holly Chairman and CEO, will serve as Executive Chairman of the combined company. Under the terms of the agreement, Frontier shareholders will receive 0.4811 Holly shares for each share of Frontier common stock. Upon closing of the transaction, Holly shareholders are expected to own ~51% and Frontier shareholders are expected to own ~49% of the combined company. Frontier plans to pay a $0.28 per share special dividend on March 21, 2011 to all Frontier shareholders of record on March 7, 2011. Frontier also plans to reinstate its regular quarterly dividend of $0.06 per share, which will also be payable on March 21, 2011 to shareholders of record on March 7, 2011.

6:23AM OraSure Tech receives FDA approval for its OraQuick HCV rapid test using fingerstick whole blood (OSUR) 7.02 : Co announces its OraQuick HCV Rapid Antibody Test has now been approved by the U.S. Food and Drug Administration for use in detecting HCV antibodies with a fingerstick whole blood sample. The product received an initial approval for use in persons at risk for HCV infection with venous whole blood specimens in June 2010.

6:07AM Dorman Products beats by $0.13, beats on revs (DORM) 34.25 : Reports Q4 (Dec) earnings of $0.69 per share, $0.13 better than the Thomson Reuters consensus of $0.56; revenues rose 26.7% year/year to $122.5 mln vs the $112.2 mln consensus.

6:05AM Westlake Chemical beats by $0.52, beats on revs (WLK) 45.95 : Reports Q4 (Dec) earnings of $1.26 per share, $0.52 better than the Thomson Reuters consensus of $0.74; revenues rose 26.3% year/year to $795.4 mln vs the $779 mln consensus. The increase in income from operations was primarily due to continued improvement in Olefins integrated product margins as sales price increases outpaced increases in feedstock costs, as well as higher caustic sales prices and improved PVC resin sales volume.

6:02AM Hollywood Media provides prelimary results of tender offer (HOLL) 1.95 : Co announces the preliminary results of its tender offer to purchase up to 8 mln shares of its common stock at a price of $2.05 per share, which expired at 17:00 ET on Friday, February 18, 2011: 24,168,572 shares of common stock were properly tendered and not withdrawn. Accordingly, Hollywood Media Corp. expects to accept for purchase a total of 8,000,000 shares at a purchase price of $2.05 per share, for a total cost of ~$16.4 million.

6:01AM Ternium S.A. misses by $0.15, beats on revs (TX) 37.62 : Reports Q4 (Dec) earnings of $0.39 per share, $0.15 worse than the Thomson Reuters consensus of $0.54; revenues rose 41.2% year/year to $1.93 bln vs the $1.87 bln consensus. Q4 Shipments (tons) increased 27% YoY to 2,106,000. Co expects the NAFTA region to accelerate its growth rate in 2011, with higher industrial activity in Mexico driving local demand for steel products. The co also anticipates that South America's economies will continue to grow during 2011. Co expects an improvement in operating income in the first quarter 2011 compared to the fourth quarter 2010, mainly as a result of a recovery in operating margin in the North America Region due to an increase in prices and higher shipment levels, partially offset by an increase in cost per ton during the same period.

5:35AM Delcath receives refusal to file letter from FDA (DCTH) 11.30 : Co announces that it received a "refusal to file" letter from the FDA for the New Drug Application for its proprietary chemosaturation system used in the treatment of patients with metastatic melanoma in the liver through the percutaneous intra-arterial administration of melphalan hydrochloride. Co expects to submit a formal meeting request to the FDA this week and intends to meet with the FDA at the earliest opportunity to discuss the issues raised and to confirm our understanding of the remedies required for the filing to be accepted. Based on management's current understanding of the information in the FDA's letter, the co intends to resubmit the NDA by September 30, 2011. "The FDA's letter requested information involving manufacturing plant inspection timing, product and sterilization validations and additional safety information that we already planned on filing with our 120 day safety update in April, as well as additional statistical analysis clarification."

3:31AM On The Wires (WIRES) :

* SIGA Technologies (SIGA) announced that the Biomedical Advanced Research and Development Authority has advised that it is issuing a new Request for Proposal seeking to procure 1.7 mln courses of a smallpox antiviral. Responses to the new Request for Proposal are due February 28, 2011.
* VMware (VMW) announced that major Japan-based telecommunications operator, SOFTBANK TELECOM has joined the VMware vCloud Datacenter Services Program, which delivers globally consistent enterprise-class hybrid cloud computing infrastructure services.
* Santarus (SNTS) and biotech company Pharming Group NV (PHARM) announced that Pharming has begun an international, multicenter, randomized, placebo-controlled Phase IIIb clinical study evaluating the investigational drug RHUCIN for the treatment of acute attacks of angioedema in patients with Hereditary Angioedema.
* Johnson & Johnson (JNJ) and Crucell N.V. (CRXL) announce that JNJ has completed the tender offer for CRXL and has declared the offer unconditional. As a result, CRXL will now operate as the center for vaccines within the Johnson & Johnson pharmaceuticals group.

3:25AM Atwood Oceanics: notice of force majeure event withdrawn (ATW) 44.54 : Co announces its customer, RWE Dea Nile GmbHformally withdrew its notice of a force majeure event, previously given on January 29, 2011 to Alpha Offshore Services, a wholly-owned subsidiary of Co. The force majeure event intermittently affected the operations of the Atwood Aurora which is presently performing normal operations offshore Egypt in the Mediterranean Sea. RWE and Alpha have agreed to a partial reduction of the operating day rate to apply during the period from January 28, 2011 to February 8, 2011 to account for the reduced manning levels on board the Atwood Aurora during that time period.

2:58AM Choice Hotels beats by $0.01, beats on revs; guides Q1 EPS below consensus; guides FY11 EPS below consensus (CHH) 41.25 : Reports Q4 (Dec) earnings of $0.40 per share, $0.01 better than the Thomson Reuters consensus of $0.39; revenues rose 10.2% year/year to $155 mln vs the $150 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.25 vs. $0.27 Thomson Reuters consensus. Co issues downside guidance for FY11, sees EPS of $1.71-1.75 vs. $1.82 Thomson Reuters consensus. Co sees EBITDA for full-year 2011 are expected to range between $180-183 mln vs 186.7 Thomson Reuters consensus. The co expects net domestic unit growth of ~1% in 2011; RevPAR is expected to increase ~5% for first quarter of 2011 and increase ~4% for full-year 2011; The effective royalty rate is expected to increase 3 basis points for full-year 2011.

2:52AM Ducommun misses by $0.08, misses on revs (DCO) 22.39 : Reports Q4 (Dec) earnings of $0.39 per share, $0.08 worse than the Thomson Reuters consensus of $0.47; revenues fell 3.7% year/year to $101.8 mln vs the $106.1 mln consensus.

2:51AM ONEOK misses by $0.03, misses on revs (OKE) 64.65 : Reports Q4 (Dec) earnings of $0.76 per share, $0.03 worse than the Thomson Reuters consensus of $0.79; revenues fell 10.0% year/year to $3.36 bln vs the $4.23 bln consensus.

2:48AM ONEOK Partners beats by $0.06, beats on revs (OKS) 83.66 : Reports Q4 (Dec) earnings of $1.09 per share, $0.06 better than the Thomson Reuters consensus of $1.03; revenues rose 3.5% year/year to $2.35 bln vs the $2.05 bln consensus.

2:43AM Elbit Systems reaches agreement to acquire balance of Elisra's shares held by Elta Systems for $67.5 mln (ESLT) 51.78 : Co announces it has reached an agreement to acquire the remaining 30% of the shares of Elisra Electronic Systems held by Elta Systems for $67.5 mln . Co currently owns 70% of Elisra's shares, and following the acquisition, Elisra will become a wholly-owned subsidiary of co.

2:37AM Best Buy initiates series of actions intended to financial performance; reaffirms FY11 EPS guidance (BBY) 33.04 : Co announces a series of actions intended to enhance growth in key strategic businesses and improve the financial performance of its International segment. The co reported that FY12 new store openings will be focused primarily on the profitable growth platforms of its Best Buy Mobile business in the United States and its Five Star business in China. In addition, the co plans to restructure its operations in its branded China and Turkey markets. The co also announced plans to improve efficiencies in its U.S. supply chain operations. Altogether, the co estimates that these restructuring actions will result in annual pre-tax net savings of $60-70 mln once fully realized in fiscal 2013. The co expects these restructuring actions to result in charges during fiscal 2011 and 2012 totaling $225-245 mln. The co stated that it continues to expect fiscal 2011 diluted EPS of $3.20-3.40, excluding the restructuring charges described in this news release, and in-line with Thomson Reuters consensus of $3.31. Given the timing of these actions, the co expects that the majority of the charges will be reported in the fourth quarter of fiscal 2011 (~$210-230 mln or $0.33-0.36 diluted EPS impact) with the balance of the charges reported in fiscal 2012.

2:17AM Dynegy: Icahn Enterprises merger agreement terminated; CEO and CFO to resign; current Board do not intend to stand for reelection (DYN) 6.01 : Co announces that that Bruce Williamson, pursuant to a mutual agreement with the Board of Directors, will resign as President and CEO, effective March 11, 2011. Williamson has also resigned as a director and Chairman of the Board, effective immediately. David Biegler, currently an independent co director, has been appointed interim President and CEO following the departure of Williamson, and Patricia Hammick, previously Lead Director of co, now serves as Chairman. Also, Holli Nichols will resign as EVP and CFO, to accept an opportunity at another company. Charles Cook, co's EVP, Commercial Operations and Market Analytics, will serve as interim CFO following the departure of Nichols. Additinally, co announces termination of Icahn Enterprises (IEP) merger agreement as an insufficient number of shares were tendered in response to the tender offer, and as a result the merger agreement with an affiliate of IEP automatically terminated as of 5:00 p.m. (Eastern time) on February 18, 2011. Recognizing the desire of the stockholders to pursue a different path, co's five remaining directors do not intend to stand for reelection at the co's upcoming annual meeting, anticipated to be held in June 2011.

2:07AM Assisted Living Concepts enters into new $125 mln credit facility, substantially reduces collateralized residences (ALC) 33.23 : CO announces it has entered into a five year, $125 mln revolving credit agreement with U.S. Bank National Association. Co and three of co's subsidiaries that own 31 residences consisting of ~1,313 units have granted first priority security interests of each of the three subsidiaries including a perfected first priority mortgage on certain real properties providing an aggregate appraised value of at least $166.67 mln. The U.S. Bank Credit Facility will expire on February 18, 2016. Simultaneous with the consummation of the U.S. Bank Credit Facility, co and General Electric Capital and the lenders and L/C Issuers party thereto terminated their $120.0 mln credit agreement. Initial proceeds of $50 mln borrowed under the U.S. Bank Credit Facility were used to repay all outstanding amounts owed under the GECC Credit Facility.

2:03AM Kirby Corp signs agreement to purchase United Holdings; issues new FY11 EPS guidance to reflect acquistions; immediately accretive (KEX) 52.05 : Co announces that it has signed an agreement to purchase United Holdings. The base purchase price is $270 mln in cash, plus a three-year earnout provision for up to an additional $50 mln payable in 2014. Co Projected full year 2011 revenues for United are anticipated to be in the $375-450 million range, generating projected full year net earnings in the $0.20-0.25 per share range. Assuming a closing in April 2011, anticipated revenues for co from United's operations would be in the $285-335 mln range, generating net earnings in the $0.15-0.20 per share range. Therfore, Co issues guidance for FY11 (Dec), sees EPS of $2.55-2.80, may not be comparable to $2.56 Thomson Reuters consensus.

1:55AM Pinnacle Airlines releases Jan performance data; ASMs +69% YoY (PNCL) 6.73 : Co releases capacity and operational results for its subsidiaries for January 2011. The results are as followed:

* Passengers to 1,372,069 +43% YoY
* Available Seat Miles to 961,919 +69% YoY
* Revenue Passenger Miles 623,513 +64% YoY
* Load Factor was 64.8% which was down 2 pts.

1:48AM Jabil Circuit acquires 3 of its former divested operations; expects one time charge to GAPP earnings of $25-40 mln (JBL) 22.57 : Co announces it has acquired three of its former operations in France and Italy, which were divested in July of 2010. Co currently expects, based on existing information, to take a one-time charge of $25-40 mln to U.S. GAAP earnings in its second fiscal quarter of 2011. This charge is principally the write-off of working capital loans for the operations and other expenses associated with the transaction. Co comments: "Although the transgressions of the purchaser that led to this action were beyond our control, we could not stand-by and allow the circumstances to deteriorate further, risking more serious consequences to our stakeholders."

1:46AM Chesapeake Energy sells Fayetteville Shale assets to BHP Billiton (BHP) for $4.75 bln in cash (CHK) 30.43 : Co announces it has agreed to sell all of the co's interests in ~487,000 net acres of leasehold and producing natural gas properties in the Fayetteville Shale play in central Arkansas to BHP Billiton Petroleum, a wholly owned subsidiary of BHP Billiton (BHP), for $4.75 bln in cash. The transaction includes existing net production of ~415 mln cubic feet of natural gas equivalent per day and midstream assets with ~420 miles of pipeline. As part of the transaction, co has agreed to provide essential services for up to one year for BHP's Fayetteville properties for an agreed-upon fee. The transaction is expected to close in the first half of 2011.

1:42AM Taseko Mines submits revised project description for the Prosperity Project to federal government (TGB) 5.97 : Co announces it has submitted a new Project Description for its Prosperity Gold-Copper Project with the Government of Canada. The revised plan addresses the concerns identified during the federal review process. The proposal greatly reduces environmental impacts, preserves Fish Lake and its aquatics, and enables all mine operations and related components to be contained within one single watershed, a beneficial feature of the original design.

1:39AM On The Wires (WIRES) :

* Emdeon (EM) announced the selection of IBM (IBM) as its technology provider for patient-centric clinical information exchange.
* Telles, a joint venture between Metabolix (MBLX) and Archer Daniels Midland (ADM) announced that Lakeside Plastics Ltd., an innovative film converter headquartered in British Columbia, Canada, will be launching a compostable bag product line based on Mvera B5002, a compostable film product made from a proprietary blend with Mirel bioplastics.
* KBR (KBR) announced that KLH Australia-Browse Joint Venture, a joint venture between KBR, Leighton Contractors and John Holland, has been awarded a FEED contract by Woodside for the co's Browse Liquefied Natural Gas Development in Western Australia.
* Monotype Imaging Holdings (TYPE) has added the 12-font Camphor typeface family to the co's Monotype collection. Covisint, a Compuware (CPWR) co, announced its partnership with HealthShare Montana, a non-profit statewide initiative focused on the exchange of healthcare information.
* Harris (HRS) has introduced the newest member of its FalconIII tactical radio family, the Falcon III Low Profile RF-7800V-V511 vehicular/base VHF radio system.
* Constant Contact (CTCT) and WeReward announced a partnership to help merchants and product manufacturers increase customer loyalty and lifetime value through stronger relationships.
* Lawson Software (LWSN) announced it has signed contracts with Physicians Health Alliance and Buffalo Medical Group to implement the Lawson Cloverleaf Integration Suite.
* Cree (CREE) announced commercial availability of the LBR-30 LED lamp, aimed at replacing energy-wasting incandescent lamps commonly used in tracks, commercial and residential recessed downlights. Panasonic Solutions Company, a unit of Panasonic (PC) announced it will offer a new high definition, 32", hospital-grade, patient room display later this year.
* Philips Electronics NV (PHG) and Microsoft (MSFT) announced the cos will collaborate to streamline the workflow of radiologists as they seek to build and understand the complete clinical context of a patient.
* Fiserv (FISV) announced the availability of a new module that gives lenders the ability to offer borrowers two high-demand self-service channels, which can help lenders enhance customer relationships and realize efficiencies.
* Rite Aid's (RAD) free prescription delivery service has been expanded to more than 400 Rite Aid pharmacies in the greater New York metro area including northern New Jersey.
* To address the need for lower operating voltages in battery-operated consumer products, Vishay Intertechnology (VSH) broadened its optoelectronics portfolio with the introduction of a new "V" low-voltage supply option for 10 of its TSOP IR series receivers.
* GE Healthcare Performance Solutions, a unit of GE (GE), and Cisco (CSCO) announced they have joined forces to help hospitals improve the quality of patient care, increase efficiency, and reduce costs by enabling them to better manage the flow of patients, staff, and equipment.
* Dell (DELL) and Microsoft (MSFT) will collaborate to deliver an analytics, informatics, Business Intelligence and performance improvement solution designed specifically to meet the needs of community hospitals through an affordable, subscription-based model.
* Standard Register (SR) Healthcare unveiled the world's first anti-microbial laser wristband for patient identification.
* Ballard Power Systems (BLDP) announced that it has finalized the agreement to deploy a clean energy fuel cell power generator at a K2 Pure Solutions bleach plant in Pittsburg, California.
* Save-A-Lot, a wholly owned subsidiary of SUPERVALU (SVU) announced that it will open five new stores in Chicago's South Side neighborhoods on Thursday, Feb. 24, nearly doubling its presence in the area.
* HFF (HF) announced that it has arranged an $80 mln refinancing for Whalers Village, a 110,836-square-foot, open-air shopping and entertainment center located along Kaanapali Beach in West Maui, Hawaii.
* GT Solar (SOLR) announced its next generation silicon tetrachloride converter for polysilicon production plants using direct chlorination for hydrogenating STC.

1:33AM Blockbuster initiates process to sell company; enters into 'stalking horse' purchase agreement with investor group; bid currently at $290 mln (BLOKA) 0.12 : Co announces that it has initiated a process to sell the co, which it believes represents the best means of maximizing value for co's stakeholders. In conjunction with this process, co has entered into an asset purchase agreement with a "stalking horse" bidder, Cobalt Video Holdco, LLC. Cobalt has agreed to purchase substantially all of the assets of co and its U.S. and international subsidiaries for $290 mln. In addition, co has filed a motion seeking authorization from the U.S. Bankruptcy Court for the Southern District of New York to conduct an auction process for the co. The auction process is designed to achieve the highest and best offer for the co's assets and would be conducted under the Court's supervision. Co expects that its U.S. operations, including a majority of its stores, DVD vending kiosks, by-mail and digital businesses, will continue to serve customers in the ordinary course during the sale process.

1:29AM Genuine Parts increases quarterly dividend 10% to $0.45, payable on April 1 for shareholders on record March 11, 2011 (GPC) 55.25 :

1:29AM Timkento increase base prices on all special bar quality products by $40 per ton; applies to non contract pricing, effective April 1, 2011 (TKR) 52.20 :

1:28AM Autoliv raises quarterly dividend 8% to $0.43, payable June 2 to shareholders of May 5, 2011 (ALV) 75.75 :

1:28AM Neutral Tandem CEO to retire; names Edward Evans CEO; authorizes $50 mln share repurchase program (TNDM) 17.86 : Co announces CEO Rian Wren has announced his decision to retire from the co on April 1, 2011. He will continue to serve on the Board following his retirement. Co's Board has elected Edward Evans to succeed as CEO, effective April 1, 2011. Evans has served on co's Board of Directors since November 2008.

1:26AM News Corp to acquire Shine Group (NWS) 18.73 : Co and Shine Group announced today they have reached an agreement in principle for co to acquire 100% of Shine Group for an enterprise value of $415 mln. The parties have signed a non-binding letter of intent and will now proceed with the regulatory filings required for the transaction.

1:25AM On The Wires (WIRES) :

* LaBarge (LB) has received a $3.8 mln contract from Bell Helicopter, a Textron (TXT) co , to continue to produceelectronic assemblies for the H-1 Upgrade Program for helicopters used by the U.S. Marine Corps.
* More than 7,700 people from over 77 countries registered to bid on $172 mln of used and unused equipment and trucks sold at an unreserved public auction conducted by Ritchie Bros. Auctioneers (RBA) in Orlando, Florida last week
* GE South African Technologies, GE (GE) Transportation's entity in South Africa, and Transnet Limited celebrated the introduction of the first two of 100 new GE locomotives for South Africa.
* xpedx, a unit of International Paper (IP) announced a new network of seven Package Design Centers with the opening of centers in the San Francisco Bay Area and Rochester, N.Y., and the expansion of existing design centers in Chicago, Detroit, Kansas City, Pittsburgh and Juarez, Mexico metropolitan areas.
* Mater Children's Hospital and Masimo (MASI) jointly announced the conversion of Mater Children's Hospital to Masimo rainbow SET Pulse CO-Oximetry technology for advanced noninvasive patient monitoring capabilities.
* Motorola Solution (MSI) announced its newest advanced data capture solution for healthcare - the DS4208-HC corded imager.
* Hitachi Data Systems Corporation, a wholly owned subsidiary of Hitachi (HIT) introduced a new solution for healthcare providers to improve clinical decision making and resulting patient care.
* Dell (DELL) announced it is delivering new cloud-based services to simplify secure information access and sharing for physicians and hospitals and improve healthcare efficiency from the point of care to the data center and business office.
* After a full year of feasibility studies, the CDC is taking a significant step toward providing public health information at the point-of-care. CDC is collaborating with GE Healthcare, a unit of General Electric (GE), to explore the efficacy of actionable health alerts, delivered instantly to a physician's electronic medical record.
* Northrop Grumman (NOC) has introduced a mobile application available to U.S. military veterans that enables secure access to health information and records from a mobile device.
* Sanofi Pasteur, the vaccines division of sanofi-aventis (SNY), announced that it is partnering with the International Vaccine Institute to support the recently launched Dengue Vaccine Initiative.
* AB Volvo Penta (VOLVY) and Garmin Ltd have entered into a joint development and marketing strategic alliance to provide instrumentation, navigation and communication equipment for marine use.

1:22AM Wowjoint Holdings signs $5 mln in new contracts and enters new market (BWOW) 3.10 : Co announces it has signed $5 mln in new equipment contracts. The first contract totaling $4 mln is with China Railway 16th Bureau's No. 5 Engineering Company, for a 900 ton tyre trolley and a 900 ton launching gantry. Sunbird Yacht signed a $1 mln contract with co to purchase two 150 ton tyre marine hoists.

1:21AM Unifi mourns the death of Stephen Wener, Chairman of the co's Board (UFI) 18.95 : Co announces the non-executive Chairman of the Board of Directors passed away unexpectedly on Friday, February 18, 2011. Wener, who was 67 years old, had served as a member of the Board of Directors of the co since 2007.

1:19AM Bryn Mawr Bank to acquire the Private Wealth Management Group of the Hershey Trust; increases wealth assets by more than 30.0% (BMTC) 21.33 : Co announces it entered into a definitive agreement to acquire the Private Wealth Management Group of the Hershey Trust. The acquisition is expected to increase the assets under management of co's Wealth Management Division by ~ $1.1 bln. Consideration for the transaction will involve a combination of cash and stock, for the PWMG Business. The acquisition is expected to close in the second quarter of 2011.

1:16AM Nordion signs share purchase agreement to divest MDS Nordion S.A. (NDZ) 11.61 : Co announces it has signed a share purchase agreement with Best Medical Belgium for the divestiture of the co's Belgian operations, MDS Nordion S.A. Best Medical will acquire all of Nordion's Belgian operations with the exception of the TheraSphere business. Co will leave an amount of capital in the business, currently estimated to be $18 mln. The final amount will be determined upon closing. Due to the losses incurred in the Belgian operations, Nordion made a decision in fiscal 2010 to restructure or exit this business.

1:15AM Xerox unit acquires Unamic/HCN (XRX) 11.32 : Affiliated Computer Services, a unit of co, announces a definitive agreement to acquire Unamic/HCN, the largest privately-owned customer care provider in the Benelux. The agreement marks ACS' first acquisition in the European customer care market, building on the co's global capabilities with a management team that provides regional market expertise. No terms were disclosed.

1:14AM Nxstage Medical: FREEDOM data shows continued, marked benefits for patients using the system one for daily home hemodialysis throughout a 12 month period (NXTM) 22.58 : Co announces the latest interim results from its ongoing FREEDOM study which show an increase in overall quality of life benefits, significant improvement in overall sleep quality and a marked improvement in Restless Legs Syndrome symptoms experienced by patients after 12 months of daily home hemodialysis with the NxStage System One. The interim analysis of the FREEDOM study shows that daily home hemodialysis is associated with clear improvements in quality of life benefits sustained throughout a 12-month period, as measured by the SF-36v2 Health Survey. Results show: Significant improvements in both mental health scores and physical health scores from baseline to month 12. Seven out of eight individual showed clinically meaningful improvements.

1:11AM Fresenius Medical receives FDA clearance for 2008K@home Dialysis Machine (FMS) 64.32 : Co announces the FDA cleared its 2008K@home dialysis machine. The 2008K@home will be available to patients in the late spring/early summer, 2011.

1:09AM Alliant Tech wins contract from Jordan's King Abdullah II Design and Development Bureau to modify two CASA-235 military transport aircraft; terms not disclosed (ATK) 72.74 : Co announces it has received a contract from the King Abdullah II Design and Development Bureau of the Kingdom of Jordan to modify two of the country's CASA-235 transport aircraft into highly-capable and cost-effective special mission aircraft, according to the combined modification designs of both KADDB and co. The modified aircraft are expected to be delivered by the late spring of 2013. Terms of the contract were not announced.

1:07AM On The Wires (WIRES) :

* Genoptix (GXDX) announced that it has entered into a MOU providing for the settlement of the putative class action lawsuits currently pending in the Superior Court of the State of California, San Diego County
* Boeing (BA) and Saudi Arabian Airlines have teamed to modernize the flag carrier's 777 fleet to enhance the passenger experience and environment. The project involves modifying the interiors of 22 of Saudi Arabian Airlines' 23 Boeing 777-200ERs (extended range).
* Canon USA , a unit of Canon (CAJ) introduced the imagePRESS Server T1 V2 Controller for use with the Canon imagePRESS C1+ Digital Printing Solution and CYPHER PS Print Server.
* Internet Initiative Japan (IIJI) announced the March 2011 release of the FS810WR mobile wireless LAN router, the latest data communications terminal available for use with IIJ's enterprise class high-speed mobile data communications service IIJ Mobile Service/Type D.
* ATK (ATK) introduced its newly-developed Modular Advanced Weapon System, a Multi-platform Adaptability Allows for Easy Weaponization and Upgrade for Land, Air and Naval Platforms.
* LifeWatch announced an initiative with UnitedHealthcare Insurance, an affiliate of United-Health Group (UNH) that will provide members insured by UnitedHealthcare in-network access to LifeWatch cardiac monitoring services and technologies.
* BGC Partners (BGCP) announced its first fully electronic UK Sterling Interest Rate Swap trade using co's Volume Match tool on the BGC Trader platform.
* NextGen Healthcare Information Systems, a unit of of Quality Systems (QSII) unveiled several new innovations to help providers advance collaborative care and clinical integration across the continuum.
* Meru Networks (MERU) announced that Sarasota Memorial Health Care System, the second-largest acute care public medical center in Florida, selected Meru for pervasive wireless coverage throughout their 806-bed facility.
* Microsoft (MSFT) and T-Systems have signed a major five-year deal that will allow Shell employees to work together online globally. Shell will buy SharePoint services dynamically via the internet to increase flexibility at work and to reduce costs.

1:03AM Royal Dutch Shell, Vitol and Helios reach agreement on African downstream businesses (RDS.A) 71.01 : Vitol announced that, in partnership with Helios Investment Partners, it has agreed to purchase the majority of co's shareholding in most of their downstream businesses in Africa for a total consideration of some $1 bln. Two new joint venture cos will assure continued availability of co's fuels and lubricants in 14 African countries under the Shell brand. One joint venture will own and operate co's existing oil products, distribution and retailing businesses in 14 African countries, with the potential to add five more in future. Vitol and Helios will hold 80% of the venture and co will hold the remaining 20%. A separate company, which will be 50% owned by co and 50% by Vitol and Helios, will own and operate Shell's existing lubricants blending plants in seven countries and will manage macro-distributor relationships in each of the countries where the main ventureoperates, plus a number of others.

1:00AM First California Financial Group acquires San Luis Trust Bank (FCAL) 3.39 : Co announces that it assumed all of the deposits and substantially all of the assets of San Luis Trust Bank from the FDIC acting in its capacity as receiver of San Luis Trust Bank. As a result of this transaction, First California Bank will assume ~ $275 mln in total deposits and $220 mln in total loans. All of the loans purchased from the FDIC are covered under loss-sharingagreements that afford First California Bank significant protection from losses.

12:59AM Bank of Marin expands into Napa through FDIC transaction (BMRC) 34.94 : Co announces that through its subsidiary, Bank of Marin, it has acquired certain assets and assumed certain liabilities of Napa-based Charter Oak Bank. This transaction has been completed under a modified whole-bank purchase and assumption agreement with the FDIC without loss share. No capital has been raised to complete this transaction, as co has grown capital through the retention of earnings in order to take advantage of such acquisition opportunities. At December 31, 2010, Charter Oak Bank reported gross loans totaling $107.0 mln and deposits totaling $105.3 mln. The purchase price reflects an asset discount of $19.8 mln and no deposit premium.

12:56AM Unify Corp to restate previously issued financial statements (UNFY) 3.53 : Co announces it will restate previously filed financial statements to revise the accounting treatment regarding certain warrant issuances and contingent consideration related to a 2009 acquisition. The purpose of the restated reports is to correct errors to non-cash items related to certain of the co's financing and acquisition activities. The preliminary estimates of the combined impact on the co's balance sheet as of April 30, 2010 is to increase goodwill by ~ $2.1 mln, to increase current liabilities by ~$1.0 mln and to increase stockholders' equity by ~$1.1 mln . The restatements do not impact the co's previously reported total revenues, cash, cash equivalents or cash flows.

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