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Market Update: 110325
4:30 pm : Stocks surrendered some of their gains, but the broad market still settled in higher ground for the sixth time in seven sessions.

Another round of broad-based buying took stocks to their highest level in a dozen days. The ascent has come in the face of political and social instability in the Middle East and North Africa, not to mention Japan's radiation risk two weeks after massive earthquakes damaged nuclear facilities.

As a group, energy stocks staged some of the strongest gains today. The sector's 0.9% gain was led by the likes of Newfield Exploration (NFX 75.68, +2.91) and Valero Energy (VLO 29.93, +1.14). Schlumberger (SLB 86.89, -1.21) was one of only a few names in the sector that failed to put together a gain.

Tech had initially displayed leadership following an upside earnings surprise and strong forecast from Oracle (ORCL 32.64, +0.50), but a loss of support in afternoon trade left the sector to finish with a gain of less than 0.2%. That caused the tech-rich Nasdaq Composite to drift to a rather lackluster finish after it been up about 1% at its session high. Research In Motion (RIMM 56.89, -7.20) was a primary source of weakness; its dramatic drop stemmed from disappointment over the firm's forecast and a subsequent downgrade by analysts at Deutsche Bank.

The only data of consequence today was the third estimate for fourth quarter GDP, which was revised upward to reflect growth of 3.1%. The consensus among economists polled by Briefing.com had called for a 2.9% increase.

That news came before Philadelphia Fed President Plosser acknowledged that an improving economy needs for a strategy to normalize monetary policy. Plosser expressed favor for a strategy that involves raising rates and shrinking the balance sheet concurrently and tying the pace of asset sales to the pace and size of interest rate increases. Although economists continue to believe that any such move is unlikely in the near term, the statement was a more direct indication that the Fed is thinking about the day when it will need to act.

Advancing Sectors: Energy (+0.9%), Telecom (+0.8%), Materials (+0.5%), Industrials (+0.3%), Health Care (+0.3), Consumer Discretionary (+0.2%), Tech (+0.2%), Financial (+0.2%)
Unchanged: Utilities, Consumer Staples
Declining Sectors: (None)DJ30 +50.03 NASDAQ +6.64 NQ100 +0.2% R2K +0.8% SP400 +0.8% SP500 +4.14 NASDAQ Adv/Vol/Dec 1512/1.86 bln/1092 NYSE Adv/Vol/Dec 1969/823 mln/1015

3:30 pm : A late run up made natural gas one of today's top performing commodities. The energy component settled pit trade with a 3.6% gain at almost $4.40 per MMBtu.

Oil had a relatively quiet session. Prices settled just 0.2% lower at $105.39 per barrel.

As for precious metals, gold prices closed with a 0.6% loss at $1426.30 per ounce and silver settled at $37.18 per ounce with a 0.5% loss. Both encountered selling pressure after Philadelphia Fed President Plosser stated his proposal for normalizing monetary policy. DJ30 +56.42 NASDAQ +8.90 SP500 +5.33 NASDAQ Adv/Vol/Dec 1745/1.48 bln/838 NYSE Adv/Vol/Dec 2128/552 mln/816

3:00 pm : Support had started to fade in recent trade, but stocks have since stabilized. In turn, the major equity averages continue to sit on solid gains.

Only an hour remains before trade will close for this week. Next week's calendar brings the latest earnings from Lennar (LEN 20.05, +0.18), Family Dollar (FDO 52.00, +0.05), and Mosaic (MOS 79.05, +1.50). Economic items include personal income and spending, consumer confidence, the latest ADP Employment Change, weekly initial jobless claims, monthly nonfarm payrolls, ISM data, and construction spending numbers. DJ30 +63.23 NASDAQ +13.15 SP500 +6.37 NASDAQ Adv/Vol/Dec 1666/1.38 bln/907 NYSE Adv/Vol/Dec 2093/512 mln/864

2:30 pm : Selling interest has started to surface. The change in tone has caused the Nasdaq to surrender about half of its gain.

The Nasdaq's pullback stems from a downturn among tech stocks, which are now up just 0.2% for the session. Even Oracle (ORCL 32.78, +0.64) has drifted to a session low after it had displayed early leadership and had traded near $34 per share. Initial strength in the stock was underpinned by better-than-expected earnings and a strong forecast. DJ30 +57.75 NASDAQ +11.07 SP500 +5.23 NASDAQ Adv/Vol/Dec 1773/1.26 bln/792 NYSE Adv/Vol/Dec 2146/469 mln/774

2:00 pm : Stocks continue to sport solid gains, but they are back near afternoon lows. There really hasn't been any sign of selling pressure, rather buying interest has waned a bit.

However, Treasuries have encountered increased selling pressure in recent trade. In turn, the benchmark 10-year Note is now down 10 ticks, which has lifted its yield to a two-week high of 3.45%. DJ30 +64.33 NASDAQ +17.18 SP500 +6.47 NASDAQ Adv/Vol/Dec 1805/1.17 bln/734 NYSE Adv/Vol/Dec 2198/430 mln/725

1:30 pm : Discretionary plays casinos and gaming stocks are benefiting from some strong buying interest today. In addition to broad market support, their advance stems partly from the decision by analysts at UBS to upgrade Las Vegas Sands (LVS 42.61, +0.65), which is a new two-week high. Wynn Resorts (WYNN 127.97, +3.73) has made an especially strong bounce in the wake of the LVS upgrade, but it is still several dollars shy of its 52-week high.DJ30 +66.87 NASDAQ +20.65 SP500 +7.05 NASDAQ Adv/Vol/Dec 1779/1.09 bln/749 NYSE Adv/Vol/Dec 2138/400 mln/783

1:05 pm : The stock market is on pace for its sixth gain in seven sessions as participants continue to move back into stocks. Buying has even held steady in the face of hawkish comments from a regional Fed president.

Stocks have staged impressive gains in recent sessions as market participants look past military conflict in Libya and social unrest in the rest of the region, as well as challenges in nuclear facility restoration and radiation containment in Japan. The stock market's ability to shrug off such ominous news stories has encouraged participants to chase the tape.

Broad-based buying in recent sessions has the stock market at a two-week high. The latest leg of gains has also been broad-based, but materials stocks are seeing some of the strongest interest. The sector is up 1%, even after commodities were clipped amid comments from Philadelphia Fed President Plosser about monetary policy normalization. Plosser said he proposes a strategy that involves raising rates and shrinking the balance sheet concurrently and tying the pace of asset sales to the pace and size of interest rate increases.

Plosser's comments come after the third estimate for fourth quarter GDP was revised upward to reflect growth of 3.1%.

The latest dose of corporate news consists of an upside earnings surprise from both Oracle (ORCL 33.16, +1.02) and Accenture (ACN 54.34, +2.38). However, Research In Motion (RIMM 56.88, -7.21) was downgraded by Deutsche Bank in the wake of a mixed forecast, which has overshadowed better-than-expected earnings. That has the stock at a four-month low. DJ30 +65.62 NASDAQ +20.45 SP500 +7.25 NASDAQ Adv/Vol/Dec 1817/1.00 bln/675 NYSE Adv/Vol/Dec 2174/369 mln/735

12:30 pm : Comments from Philadelphia Fed President Plosser about a strategy for the normalization of monetary policy have been hitting newswires. Plosser stated that recent global events may have created some uncertainties, but strengthening of the U.S. economy suggests that it is prudent for policymakers to develop a strategy to normalize monetary policy. Plosser proposes a strategy that involves raising rates and shrinking the balance sheet concurrently and tying the pace of asset sales to the pace and size of interest rate increases.

Plosser's comments have induced selling among commodities. That has clipped the materials sector, which is still up nicely with a 1.0% gain, though. The broader market hasn't made much of a reaction to the statement. DJ30 +72.00 NASDAQ +21.65 SP500 +7.83 NASDAQ Adv/Vol/Dec 1865/912 mln/625 NYSE Adv/Vol/Dec 2249/330 mln/644

12:00 pm : Financials had traded with a slight loss in the early going, but the sector has since worked its way to a 0.6% gain. The move has been led by bank stocks like Wells Fargo (WFC 32.14, +0.60), U.S. Bancorp (USB 27.00, +0.32), BB&T (BBT 27.23, +0.56), and Fifth Third (FITB 13.99, +0.21). However, Bank of America (BAC 13.48, +0.00) remains mired near the neutral line and investment banks like Goldman Sachs (GS 158.10, -1.81) and Morgan Stanley (MS 27.25, -0.36) are down markedly.DJ30 +72.58 NASDAQ +24.64 SP500 +8.20 NASDAQ Adv/Vol/Dec 1844/800 mln/626 NYSE Adv/Vol/Dec 2222/288 mln/659

11:30 am : The Nasdaq Composite is outperforming its counterparts for the second straight session, thanks to strength among large-cap tech issues like Oracle (ORCL 33.36, +1.22). The enterprise software outfit complemented an upside earnings surprise with strong guidance.

Research In Motion (RIMM 57.23, -6.86) was a leader in the Nasdaq during the prior session, but today the stock has been dogged. Its dramatic drop to a four-month low comes in the wake of a mixed earnings forecast, which has overshadowed better-than-expected earnings for the most recent quarter. In the wake of the report, shares of RIMM have been downgraded by analysts at Deutsche Bank. DJ30 +72.62 NASDAQ +22.93 SP500 +7.99 NASDAQ Adv/Vol/Dec 1825/680 mln/606 NYSE Adv/Vol/Dec 2176/245 mln/664

11:00 am : Stocks sputtered along in the first few minutes of trade, but they have since rallied to strong gains. Once again, the bid has been broad based.

Natural resource plays have garnered some of the strongest interest. As such, materials stocks are up 1.3% while energy stocks are up 0.9%. Energy's advance comes after the sector had actually slipped to a slight loss in the first few minutes of trade. It also flies in the face of a modest dip in oil prices to $105.25 per barrel. DJ30 +72.69 NASDAQ +24.57 SP500 +8.30 NASDAQ Adv/Vol/Dec 1659/510 mln/713 NYSE Adv/Vol/Dec 2026/185 mln/778

10:30 am : The dollar index has been in positive territory all morning and extended gains in recent activity, which has pressured select commodities. However, most commodities remain higher in morning trade.

May crude oil began to sell off about two hours ago, falling into negative territory and to new session lows of $104.50 per barrel. It has since erased most of those losses and is now trading at $105.24 per barrel, down 0.3%.

April natural gas is trading just above the unchanged line currently, now at $4.26 per MMBtu.

Precious metals have been choppy this morning. April gold continues to trade between $1430.50 to $1438.00 per ounce in today's session and is now just above the unchanged line at $1436.60 per ounce, May silver is up 0.5% at $37.575 per ounce.

Overnight, grains posted decent gains with corn futures leading. May corn rose 1.5% to $7.1275/bu, May wheat rose 9 cents (or +1.2%) to $7.485/bu and May soybeans gained 7.25 cents (or $0.5%) to $13.6175/bu.DJ30 +45.52 NASDAQ +9.48 SP500 +3.68 NASDAQ Adv/Vol/Dec 1367/332.7 mln/928 NYSE Adv/Vol/Dec 1723/129.4 mln/969

10:00 am : The stock market continues to trade just north of the neutral line. Stocks have been unfazed by the final March Consumer Sentiment Survey from the University of Michigan. The Survey came in at 67.5, down from the preliminary reading of 68.2.

Earlier this week analysts at Moody's downgraded about 30 banks in Spain. Moody's is now out with downgrades on multiple covered bonds from Spain.

In a similar vein, analysts at Standard & Poor's downgraded Portugal's rating to BBB following the inability of the country's Parliament to pass austerity measures. The country's rating remains on CreditWatch Negative.

Advancing Sectors: Materials (+0.8%), Tech (+0.4%), Telecom (+0.4%), Energy (+0.3%), Consumer Discretionary (+0.2%), Industrials (+0.1%), Consumer Staples (+0.1%), Health Care (+0.1)
Declining Sectors: Financial (-0.1%), Utilities (-0.1%)DJ30 +31.79 NASDAQ +8.87 SP500 +9.77 NASDAQ Adv/Vol/Dec 1298/185 mln/882 NYSE Adv/Vol/Dec 1531/78 mln/1079

09:45 am : Each of the three major equity averages is up with a narrow gain in the early going, but financials continue to trail. This is the third straight session that the financial sector has lagged the broader market.

Although the financial sector is down a relatively tame 0.2% this morning, the sector continues to lack buying interest. Bank of America (BAC 13.43, -0.05) continues to be a burden in the wake of the Fed's decision earlier this week to deny the bank's proposal to distribute capital in the second half of 2011. Meanwhile, British banking play Barclays (BCS 18.67, -0.33) has been aggressively backed down following reports that the outfit is the target of a Libor probe. DJ30 +23.73 NASDAQ +5.80 SP500 +1.77 NASDAQ Adv/Vol/Dec 1493/58 mln/645 NYSE Adv/Vol/Dec 1844/40 mln/632

09:15 am : S&P futures vs fair value: +2.40. Nasdaq futures vs fair value: +2.00. Stock futures have given back some of their gains, but they continue to point to a positive start for the final session of the week. Stocks have already advanced in five of the past six sessions and are on pace for a weekly gain of more than 2%. The stock market's recent climb has come largely by its own volition, considering that military engagements in Libya remain escalated and Japan continues to face radiation risk and challenges related to the restoration of damaged nuclear facilities. Recent data hasn't been very inspiring either, although this morning it was reported that the third estimate for fourth quarter U.S. GDP was revised higher to reflect growth of 3.1%. Corporate news has been of less concern to many broad market participants in recent weeks, but it continues to drive action around individual names. For instance, shares of Oracle (ORCL) are up almost 5% following the company's upside earnings surprise and strong forecast. Accenture (ACN) is up almost 8% after it announced similar accomplishments, whereas Research In Motion (RIMM) was last quoted with an 11% loss as mixed guidance overshadows better-than-expected earnings.

09:05 am : S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +4.30. Europe's major bourses are all near the neutral line. Data there has been a bit mixed. Specifically, Germany's IFO Business Climate reading for March came in at 111.1, which is hardly changed from the 111.2 that was posted in the previous month. the IFO Expectations reading slipped to 106.5 from 107.9. France's fourth quarter GDP was revised upward to reflect a 0.4% increase, but its consumer confidence reading for March slipped to 83 from 85. Overnight action in Asia was helped by Wall Street's ability to advance yesterday in the face of numerous negative headlines. Japan's Nikkei pushed to a 1.1% gain. Concerns about radiation and restoration of damaged nuclear facilities linger, though. The country's CPI was flat in February. Core CPI actually fell 0.6%. Hong Kong's Hang Seng also advanced 1.1% while mainland China's Shanghai Composite climbed 1%.

08:35 am : S&P futures vs fair value: +3.60. Nasdaq futures vs fair value: +3.80. The third esitmate for fourth quarter GDP was revised upward to reflect a 3.1% increase, which is greater than the 2.9% increase that had been expected, on average, among economists polled by Briefing.com. The news hasn't done anything to spur additional buying interest this morning. In turn, stock futures remain off of morning highs. Still on today's calendar is the final monthly consumer sentiment reading from the University of Michigan at 9:55 AM ET.

08:05 am : S&P futures vs fair value: +4.30. Nasdaq futures vs fair value: +5.10. Stock futures point to a positive start to today's trade. That would add to the stock market's weekly gain, which already exceeds 2%. Large-cap tech is a source of early support following an upside earnings surprise and forecast from Oracle (ORCL), which is up more than 4% ahead of the open. However, Research In Motion (RIMM) shares have dropped about 12% in premarket trade. The company's latest quarterly announcement featured better-than-expected earnings on light revenue and a mixed forecast. The stock had seen strong buying ahead of its report. Accenture (ACN) also saw strong buying ahead of its announcement, but news of a bottom line beat and strong forecast have hiked its shares another 5% this morning. Today's economic calendar features the third GDP reading for the fourth quarter (8:30 AM ET) and the final monthly reading on conumer sentiment from the University of Michigan (9:55 AM ET).

06:34 am : [BRIEFING.COM] S&P futures vs fair value: +6.60. Nasdaq futures vs fair value: +5.10.

06:34 am : Nikkei...9536.13...+101.10...+1.10%. Hang Seng...23158.67...+243.40...+1.10%.

06:34 am : FTSE...5914.31...+33.40...+0.60%. DAX...6979.69...+46.20...+0.70%.
http://finance.yahoo.com/marketupdate/update

4:30PM PulteGroup terminates revolving credit facility (PHM) 7.57 +0.15 : Co announced its decision to terminate the co's $250 million revolving credit facility effective March 30, 2011. The co will realize a charge of ~$1.3 million associated with this action which will be recorded in its first quarter financial results.

4:17PM CNinsure sells Datong Life Business unit to Warburg Pincus for ~$63.69 mln (CISG) 13.54 -0.85 : CISG announced that it has reached definitive agreements to sell its 55% equity interest in Beijing Fanhua Datong Investment Management Co., Ltd. ("Datong") to Winner Sight Global Limited, an affiliated entity of Warburg Pincus LLC. The cash consideration for the sale is ~USD63.69 mln. In addition, Datong agreed to pay a cash dividend of RMB10 mln exclusively to CNinsure. The transaction has been completed on March 25, 2011. Datong, in which CNinsure acquired 55% equity interest for RMB220 mln in Q4 of 2008, was primarily engaged in the distribution of life insurance products. Net revenues and net income derived from Datong for fiscal year 2010 were RMB251.1 mln and RMB29.7 mln, respectively, representing 16.9% and 7.0% of the Company's total net revenues and net income attributable to shareholders, respectively.

4:17PM Home Federal Bancorp announces adoption of plan of reorganization and Charter Conversion (HOME) 11.80 +0.28 : Co announced that on March 22, 2011, the Boards of Directors of the Company and Home Federal Bank, the Co's financial institution subsidiary, had adopted a Plan of Reorganization and Charter Conversion to convert the Bank to an Idaho chartered commercial bank and reorganize the Co as a bank holding company. In connection with the adoption of the Plan, the Bank has filed an application with the Idaho Department of Finance to convert the Bank to an Idaho chartered commercial bank and the Co has filed an application with the Board of Governors of the Federal Reserve System to reorganize as a bank holding co.

4:14PM Watson Pharm confirmed that its subsidiaries, Andrx Labs, LLC and Watson Laboratories, filed Abbreviated New Drug Applications with the U.S. FDA (WPI) 55.63 +0.25 : Co confirmed that its subsidiaries, Andrx Labs, LLC and Watson Laboratories- Florida, (collectively "Watson") filed Abbreviated New Drug Applications (ANDAs) with the U.S. Food and Drug Administration seeking approval to market Oxycodone Hydrochloride Extended-Release tablets in the 10,15, 20, 30, 40, 60 and 80 mg strengths. Watson's Oxycodone Hydrochloride Extended-Release tablets are a generic version of Purdue Pharma's OxyContin, which are indicated for the management of moderate to severe pain when continuous, around-the-clock opioid analgesic is needed for an extended period of time. Based on available information, WPI believes it may be the first applicant to file ANDAs for several strengths of OxyContin and, should the ANDAs be approved, may be entitled to 180 days of generic market exclusivity.

2:47PM Crestwood Midstream Partners prices $200 mln aggregate principal amount of its 7.75% Senior Notes due 2019 (CMLP) 29.76 -0.03 :

2:43PM KeyCorp implements governance for executive compensation and settlement of derivative litigation (KEY) 8.69 +0.03 : Co has taken specific steps in the implementation of corporate governance enhancements adopted by the Board in December 2010, following recommendations of a special Board committee that had studied the matter for nearly nine months. KeyCorp also announced that, with the implementation of these enhancements, it would settle derivative claims filed against the Company, certain current and former Directors, and certain officers over 2009 executive compensation practices. Co reaffirmed its historical "Pay for Performance" approach to compensation.

2:41PM Minor slippage off midday high for S&P +5.7 holds thus far near intraday support (SPY) : Support at a retracement of today's rally and the opening range high in the 1314/1313 area has provided support thus far this afternoon (recent pullback low 1314). Based on intraday patterns monitoring 1315.75/1316 on the upside for a read on the potential for latter day upticks.

2:40PM KeyCorp's retiring Chairman and CEO Henry Meyer will assume one-year non-executive role (KEY) 8.69 +0.03 : Co's CEO-elect, Beth E. Mooney announced that retiring Chairman and CEO Henry L. Meyer III has agreed to remain with KeyCorp as a non-executive employee for up to one additional year to help facilitate the transition of his industry and community relationships.

2:39PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : May corn finished 12.5 cents higher (or -1.7%) to $6.9025. May wheat gained 6.25 cents to close at $7.3325, May soybeans rose 4.75 cents to close at $13.5925, April ethanol closed lower by 0.006 cents at $2.509, while May world sugar futures closed up 0.41 cents to 27.86 cents.

2:27PM Stock indices slip back to new afternoon lows -- Dow +55, S&P +5.2, Nasdaq Comp +11 (SPY) :

1:42PM COMEX Metals Closing Prices (COMDX) : April gold finished lower by $8.60 to $1426.30, May silver shed 19.5 cents to end at $37.18, while May copper closed down 0.55 cents to $4.419.

1:27PM NEON Systems announces 25:1 reverse stock split (NEON) 0.11 -0.01 : Co anticipates that the reverse stock split will be effective as of the close of business on March 25, 2011, and that trading of the Company's common stock on the OTCBB on a split-adjusted basis will begin at the open of trading on March 28, 2011.

1:25PM Schweitzer-Mauduit confirms PTO issued non-final office action in the re- examination of patent (SWM) 47.92 -4.26 : Co confirms that the US Patent and Trademark Office issued a non-final office action in the re-examination of U.S. Patent 6,725,867 ('867 Patent). While the USPTO's office action is styled as a "rejection," in practice it is the routine process through which the USPTO identifies the issues that a patent holder must defend and all of the '867 patent claims remain valid and enforceable until the re-examination process is completed. The requests for re-examination of the '867 Patent and the similar request for re-examination filed on U.S. Patent 5,878,753 ('753 Patent), the other patent that is currently being litigated before the ITC was expected, and such requests are common in the context of patent disputes alleging infringement. "We fully expect that an office action will also issue from the USPTO in respect to the ex-parte re-examination request on our '753 patent, the other patent in dispute before the ITC and in the civil action for infringement that was filed in the U.S. District Court of South Carolina - Charleston Division. In the '867 re-examination, the USPTO confirmed the validity of claims 22 and 34 of the '867 patent." With respect to the remainder of the claims, it is important to note that the USPTO office action is a non-final action and such an office action is the procedure by which the USPTO identifies the issues for the re-examination process. The co now has two months to respond to the office action after which Delfort (requestor) will have 30 days to reply to SWM's response.

1:02PM LyondellBasell CEO adopts 10b5-1 trading plan for 12 month period beginning in May 2011 with approx equal amounts each month (LYB) 40.07 -0.32 : Gallogly will exercise 1,127,804 options to purchase LyondellBasell shares. Co said CEO plans to plan to further his charitable giving program.

12:43PM Communications Systems subsidiary received a $16.9 mln order (JCS) 15.10 +0.31 : Co announced that its Transition Networks, subsidiary received a $16.9 mln order for a range of media converters that will be purchased by a Fortune 500 company for installation in multiple sites across the United States. The customer's identity was not disclosed at their request.

12:33PM Silver now reacting to Plosser headlines; currently lower by $0.315 to $37.06 (COMDX) :

12:31PM Roche Hldg's Grenetech announces second lucentis phase III study meets primary endpoint for improved vision in patients with diabetic macular edema (RHHBY) 35.57 -0.37 : Genentech, a member of the Roche Group, announces that the second of two Phase III trials evaluating Lucentis (ranibizumab injection) in patients with diabetic macular edema met its primary endpoint. The primary endpoint of the study, known as RIDE, showed that after 24 months a significantly greater number of patients who received Lucentis, compared to those who received placebo (sham) injections, were able to read at least 15 additional letters on an eye chart than they could at the start of the study. The safety results were consistent with previous Lucentis Phase III trials and no new significant safety findings were observed. Further analyses of the data are ongoing. Topline results from the RIDE study will be presented at the EURETINA Congress in London on May 29, 2011.

12:30PM Gold drops another 2 points; currently lower by $7.40 to $1427.50 (COMDX) :

12:23PM Dollar Index flirting with the high for the week, Euro Currency futures weakening as is Gold GLD (UUP) :

12:22PM Gold drops to lows; now off $5.10 to $1429.80 (COMDX) :

12:03PM Crude oil ticks to fresh highs at $105.83; now up 22 cents to $105.82 (COMDX) :

12:00PM Fractional new session highs for the major averages in midday trade -- Dow +72, S&P +8.2, Nasdaq Comp +25 (SPY) :

11:44AM Ethan Allen amended revolving credit facility (ETH) 22.56 +0.57 : Co amended its senior secured asset-based revolving credit facility. Changes to the facility include: extended expiration by ~4 years to March 25, 2016, or June 26, 2015 if the 5.375% long term bonds have not been refinanced, reduced the costs of the facility, and revised the borrowing capacity to up to $50 mln with expansion potential to raise the total capacity to up to $100 mln.

11:07AM KBW Regional Bank ETF continues to provide intraday relative strength (KRE) 26.20 +0.46 : BOH +2.1%, CVBF +2%, FMER +1.7%, FULT +2.8%, MBFI +2.2%, ONB +1%, PACW +2.6%, SBNY +3.2%, SIVB +2.3%, UMPQ +2.2%.

11:06AM ServiceSource Intl IPO opens for trading at 13.65 vs. $10 IPO pricing (SREV) 13.65 +3.65 :

11:03AM F5 Networks probing upper end of four day range (FFIV) 96.51 +1.63 : Stock was hammered for the fifth straight session into Tuesday (off roughly 19% from high to low during this period) with a lateral drift taking hold thereafter. Today's push leaves it back near the upper end of this week's range highs at 96.61/96.80.

11:03AM Crude extends move higher to fresh highs at $105.90; now up 23 cents to $105.83 (COMDX) :

10:59AM Crude back to flat line at $105.60 (COMDX) :

10:58AM Market averages extend morning advance amid broad based participation -- Dow +67, S&P +7.7, Nasdaq Comp +23 (SPY) :

10:56AM Parkervision, Inc. issues correction: the number of units should be listed as 2,691,360, not 2,382,718 (PRKR) 0.73 -0.15 : Co announced the signing of a securities purchase agreement for the sale of 3,332,117 shares of its common stock at a price of $0.71 per share and 2,691,360 units, each unit consisting of one share of common stock and 0.3 of a warrant to purchase common stock, at an offering price of $0.81 per unit in a registered offering primarily to institutional investors. The warrants have an exercise price of $0.88 per share and are exercisable during the five-year period commencing six months following the closing of the transaction. Hudson Securities, Inc., a subsidiary of Hudson Holding Corporation (OTCBB:HDHL), acted as the company's placement agent in connection with the offering.

10:48AM AutoZone races to new high of 275.00, its 52-wk close high from Dec is at 275.50 with the 52-wk intraday high at 276.00 (AZO) 274.95 +2.84 :

10:47AM iShares NASD Biotech sets a new high for the month at 97.12 (IBB) 97.12 +0.77 : Not a top performing sector on a percentage basis but the IBB has broken above its early month peak (96.98) in recent trade. Its 52-wk close high from Jan is at 97.27 with the 52-wk intraday high at 97.42 -- AMGN +06%, GILD +1%, CELG +1.4%, BIIB +0.8%, ALXN +1.2%, ILMN +0.8%, PRGO +1.8%, DNDN +1.1%, REGN +1%.

10:45AM Gevo denies all claims of infringement in the Butamax patent infringement complaint (GEVO) 17.57 +0.19 :

10:31AM Dow +48 and S&P +4.4 set new session highs, Nasdaq Comp +10 hovering just below its early peak (SPY) : Relative sector strength in recent trade has been noted in: Coal KOL, Silver SLV, Retail XRT, Reg Bank KRE, Energy XLE, Material XLB, Ag/Chem MOO.

10:14AM Oil Service HOLDRS Trust displaying intraday relative strength in recent trade, reaches 160.15 (OIH) 159.98 unch : This week's range top/high is at 160.96 -- BHI, CAM, DO, ESV, EXH, HAL, NBR, NE, NOV, RDC, RIG, SLB, TDW, WFT.

10:11AM SPDR Oil & Gas Expl & Prod notches new high of 62.49, its 52-wk high from Tuesday is at 62.57 (XOP) 62.49 +0.58 :

10:10AM Crude bouncing off lows; now off 35 cents to $105.25 (COMDX) :

10:09AM WellPoint extends gap higher start to its 52-wk close high from March at 69.40, session high 69.39 (WLP) 69.36 +0.59 : The 52-wk intraday high from early in the month is at 69.56.

10:02AM Hill International received a contract from the Chicago's Regional Transportation Authority to provide project management oversight services (HIL) 5.45 +0.02 :

9:56AM Stock indices hovering slightly under opening highs, tick slightly lower after below consensus sentiment report -- Dow +24, S&P +1.7, Nasdaq Comp +6.8 (SPY) :

9:51AM Seeing relative strength in Refiners in recent trade -- WNR, HOC, FTO, VOL, SUN, TWO, ALJ, MRO (TECHX) :

9:43AM Stock indices mildly firmer, pause near first level resistance zones -- Dow +20, S&P +0.5, Nasdaq Comp _4 (SPY) : Noted first levels resistance in The Technical Take at 2742/2749 Nasdaq Comp (session 2748), 1314/1316 S&P (session high 1313.54) and 12195/12212 Dow (session high 12212) and have seen a quick test and pause near these levels. As mentioned in the pre-open update, the short term posture has become a bit extended in the wake of the bounce off last week's low so watching to see if some corrective trade develops after the early pop to a new recovery/weekly high.

9:39AM Eastman Kodak continuing to climb off the open, now up 10% (EK) 3.41 +0.28 : (see 9:12 comment for details)

9:36AM Las Vegas Sands tacks on to strong Thur. gains after upgrade, tests/pauses near its 50 ema at 43.21 -- session high 43.18 (LVS) 43.14 +1.20 : Its 50 day sma comes into play at 44.46.

9:35AM Crude oil to lows; now down 53 cents to $105.06 (COMDX) :

9:34AM MAG Silver announced before the open high-grade, silver-rich sulphide and skarn altered intrusion intercepts from on-going exploration drilling in the northwestern part of its 100% owned Cinco de Mayo property in northern Chihuahua State, Mexico (MVG) 12.63 +0.07 :

9:32AM Microsoft opening push stalls near its 200 day sma at 25.99 -- session high 25.95 (MSFT) 25.89 +0.08 :

9:05AM Funtalk China announces receipt of "going private" proposal for $7.10 per ordinary share in cash (FTLK) 6.15 : Co announces that its Board of Directors has received a preliminary non-binding proposal letter dated March 25, 2011 from ARCH Digital Holdings, Capital Ally Investments, GM Investment Company Limited, Sinowill Holding Limited, which is controlled by the Chairman of its Board of Directors, Kuo Zhang, Huge Harvest Enterprises, which is wholly owned and controlled by the Chief Executive Officer of the Company, Dongping Fei, Kingstate Group, which is wholly owned and controlled by Hengyang Zhou, executive president of Beijing Funtalk Century Technology Group Company, an indirect wholly owned subsidiary of the Company, and Trend Focus Limited, which is wholly owned and controlled by its senior vice president of corporate investor relations, Mr. Francis Kwok Cheong Wan, to acquire all of the outstanding ordinary shares of the Company not already owned by the Consortium Members in a "going-private" transaction for $7.10 per ordinary share in cash. The Consortium Members currently own, in the aggregate, 46,458,314 ordinary shares, or ~77.13% of the outstanding shares of the Company (excluding outstanding warrants and options of the Company).

9:02AM China Nuokang Bio-Pharma announces $5 million share repurchase program (NKBP) 3.97 :

9:01AM Resource Capital prices 6 mln share follow-on offering at $6.90/share (RSO) 7.14 : Co is externally managed by Resource Capital Manager, an indirect wholly owned subsidiary of Resource America (REXI).

8:58AM Timberline Resources appoints Paul Dircksen as CEO and President in addition to continuing in his role as Executive Chairman of the Board (TLR) 0.98 :

8:55AM Autoliv has four manufacturing facilities in Japan with only one facility suffering minor damage (ALV) 73.16 : Autoliv has four manufacturing facilities in Japan with only one facility suffering minor damage. This plant was brought back into operations on March 15, just four days after the earthquake, and resumed its first customer deliveries on March 17.

8:50AM Chemtura will increase prices by up to 30% in all regions effective April 1, 201 for numerous products (CHMT) 16.60 : Price increases are for the following products: HBCD (Hexabromocyclodecane) all grades of CD-75P and SP75 DE-83R (Decabromodiphenyl oxide)... Firemaster 2100R (Decabromodiphenyl ethane)... PH-73FF (2,4,6 Tribromophenol)... BA-59P (Tetrabromobisphenol A)... BC-52 and BC-58 (carbonate oligomers)... PDBS-8, Firemaster PBS-64HW and Firemaster CP-44HF grades of polybromostyrene... PHT-4 (tetrabromophthalic anhydride) and derivatives... Firemaster 500/600 series... PE-68 and DP-45.

8:41AM Parkervision signs purchase agreement for common stock and warrants; net proceeds of ~$4.14 mln (PRKR) 0.88 : Co announces the signing of a securities purchase agreement for the sale of 3,332,117 shares of its common stock at a price of $0.71 per share and 2,382,718 units, each unit consisting of one share of common stock and 0.3 of a warrant to purchase common stock, at an offering price of $0.81 per unit in a registered offering primarily to institutional investors. The warrants have an exercise price of $0.88 per share and are exercisable during the five-year period commencing six months the closing. Net proceeds from the sale of the shares and units are expected to be ~$4.14 mln. The co plans to use the net proceeds from the offering for working capital and for other general corporate purposes.

8:39AM Healthspring prices its underwritten public offering of 7.5 mln shares of its common stock; shares were resold by the underwriters at a price of $35.95 per share (HS) 37.97 : The net proceeds from the offering, after estimated offering expenses and underwriting discounts, are anticipated to be approximately $262 million, not including any proceeds from the potential exercise of the underwriters' option to purchase additional shares. HealthSpring expects to use at least 50% of the net proceeds for the repayment of indebtedness and the balance of the net proceeds for general corporate purposes, which may include acquisitions of similar or complementary businesses. Goldman, Sachs & Co. acted as the sole book-running manager with BofA Merrill Lynch as co-manager for the offering.

8:34AM On The Wires (WIRES) :

* The Barington Group released an open letter to the shareholders of Ameron International (AMN). The letter recommends that shareholders vote the Barington Group's WHITE proxy card for the election of the Barington Group's "highly qualified nominee" to the Ameron Board at the Company's 2011 Annual Meeting.
* interclick (ICLK) announced that claims alleging violation of the Electronic Communications Privacy Act have been dropped against the Company as part of ongoing legal litigation.

8:34AM ADA-ES beats by $0.37, beats on revs (ADES) 18.16 : Reports Q4 (Dec) loss of $0.42 per share, $0.37 better than the Thomson Reuters consensus of ($0.79); revenues rose 36.1% year/year to $9 mln vs the $6.4 mln consensus. "Looking forward, our non-routine legal expenses should be lower in the first quarter of 2011, with a significant decline starting in the second quarter as the Norit arbitration reaches its final stage and with the Calgon matter now settled...The Air Toxics Rule as well as the Cement and Industrial Boiler MACTs are expected to expand our markets significantly over the next four years as utilities, cement producers and other manufacturers that burn coal take steps to comply with the new emission limits. We expect far better financial results in 2011 than 2010 due to reduced legal expenses, a full year of operation of our first two Refined Coal facilities, and CO2 contract revenues. In addition, 2011 revenues could be enhanced with the potential from new Refined Coal facilities and royalties from Arch's Enhanced Coal."

8:31AM Capital Gold urges its stockholders to consider the facts of the superior Bid by Gammon Gold (GRS) (CGC) 6.18 : Co is urging stockholders to consider all the facts when voting on the approval of the amended merger agreement with Gammon Gold (GRS) which will provide CGC stockholders with a substantial premium and a superior value to the proposal made by Timmins Gold. Based on current trading levels, the Gammon merger has a value of $6.34 per share of CGC, delivering a premium of 67% to the trading price of CGC's common stock on September 24, 2010. Co states the GRS merger provides CGC stockholders with value and time-certainty. Co also states: Timmins still has to receive regulatory approvals in the U.S. and Mexico; Timmins still has to schedule a meeting of its shareholders and receive their support for a transaction that will significantly dilute their interests; Timmins still has to commence an actual offer to acquire CGC.

8:31AM Eagle Bulk Shipping reaches an agreement with the Receivers of Korea Line Corporation regarding twelve time-chartered vessels impacted by KLC's decision to file for protective receivership earlier this year (EGLE) 3.85 : Charter rates on ten vessels have been adjusted to $17,000 per vessel per day. Additionally, through December 31, 2015, Eagle Bulk will receive all profits between $17,000 and $21,000 per vesse After December 31, 2015, all profits above $17,000 per vessel per day are to be split equally until the conclusion of the charters which expire at the earliest on December 31, 2018. For the next twelve months, Eagle Bulk will charter these ten vessels and KLC will be responsible for any shortfall between the vessels' actual daily earnings and $17,000 per vessel per day.

8:15AM Horizon Lines extends consent solicitation for its 4.25% Convertible Senior Notes due 2012 1 day to March 25 (HRZ) 3.35 :

8:11AM AstraZeneca announces long-term safety data demonstrated VIMOVOTM is generally well tolerated in arthritis patients at risk for NSAID-associated gastric ulcers (AZN) 46.17 : The data demonstrated VIMOVO was generally well tolerated throughout the 12-month treatment period, with no new or unexpected safety issues. Study findings were presented at the American Academy of Pain Medicine Annual Meeting in National Harbor, MD, and published in Current Medical Research and Opinion, the international, peer reviewed clinical research journal.

8:04AM On The Wires (WIRES) :

* EMCOR Group (EME) announced that its subsidiary EMCOR Government Services, Inc. has been awarded a three-year contract extension for facility operations and maintenance support at the NASA Jet Propulsion Laboratory in Pasadena, California.
* Grace Construction Products, an operating segment of W. R. Grace & Co. (GRA), opened new manufacturing facilities in Cartagena, Colombia and Panama City, Panama this week.
* Dorman Products (DORM) released over 150 new products this month, featuring Formerly "Dealer Only" parts that were previously unavailable in the Aftermarket.

8:02AM Oxford Lane Capital continues to invest proceeds of initial public offering (OXLC) 17.50 : Co announced that, since the closing of the Company's initial public offering on January 25, 2011, it has invested approximately $28.3 million of the $34.1 million in net proceeds the Company received from its initial public offering (including the proceeds received from the underwriters' partial exercise of the over-allotment option), representing approximately 83% of those proceeds, including transactions entered into by the Company that are pending settlement. These investments were made in junior debt and equity tranches of collateralized loan obligations, consistent with the Company's investment objective described in the prospectus, dated January 19, 2011, relating to the Company's initial public offering.

8:02AM Watson Pharm confirms District Court ruling in Generic Fentora patent suit; co is reviewing the decision and will evaluate all available options, including an appeal (WPI) 55.38 :

8:01AM Earthstone Energy appoints interim CFO; reports additional Horizontal Bakken Wells in North Dakota (ESTE) 19.90 : Co announces its Board has appointed James Poage as Interim CFO. Poage will perform the duties and responsibilities previously held by Mr. Joseph Young who resigned earlier this week. Additionally, co expects its interest in the Garmin well to remain at less than 1%. However, co's working interest in the Enderud well is now expected to be 5.5%. The co is now involved in a third Brigham well; the Broderson 30-31 #1H. This well is also expected to commence by early summer and Earthstone expects to have a 4.94% working interet. Finally, Brigham has indicated that they plan to drill seven more wells, in addition to these three, by calendar year-end; ~1 per month.

8:00AM Bill Barrett announces increased production guidance to benefit from higher ngl and oil price realizations (BBG) 37.77 : Co announces that the Company is increasing 2011 production guidance to 106 to 110 billion cubic feet equivalent (Bcfe), representing year-over year growth of 10% to 14%. The Company plans to continue development drilling at its liquids-rich Gibson Gulch program as well as benefit from faster drilling times already realized at West Tavaputs. Natural gas liquids and oil prices have risen 17% and 19%, respectively, since November 2010 when the Company put its initial 2011 development program in place. Based on current commodity futures prices, Gibson Gulch oil production and NGL processing revenues are expected to account for more than 50% of pre-hedge revenue from the area, which provides an estimated return on drilling and completion capital of more than 50%. The updated 2011 program includes running two rigs in Gibson Gulch from April through year-end and is expected to add ~3 Bcfe to 2011 production as well as provide potential for 20%-plus production growth in 2012. As a result, the Company is increasing its capital expenditure guidance for 2011. Further, the additional activity will drive operating efficiencies that are expected to reduce total lease operating expenses and gathering, processing and transportation expenses by $0.03 per Mcfe for 2011.

7:42AM ServiceSource prices 11.9 mln share IPO at $10/share, above the $7.50-9.00 expected range, for proceeds of $119 mln (SREV) :

7:32AM James River Coal announces exercise of common stock over-allotment option; announces pricing of $275 mln of senior notes and exercise of over-allotment option on convertible senior notes (JRCC) 23.92 : Co announces that the underwriters in the previously announced public offering of 6,650,000 shares of its common stock have exercised the over-allotment option granted by it and as a result will purchase an additional 997,500 shares of its common stock. Including the over-allotment shares, the offering totaled 7,647,500 shares of its common stock, resulting in net proceeds to it of approximately $170.73 mln. The co also priced an offering of $275 million aggregate principal amount of 7.875% senior notes due 2019

7:31AM Delia*s appoints Michael Zimmerman, CEO of Prentice Capital Mgmt, and Mario Ciampi, the managing partner of Prentice Capital Mgmt to its Board of Directors (DLIA) 1.64 :

7:15AM Encore Energy receives a proposal from Vanguard Natural Resources (VNR) to acquire co in a unit-for-unit exchange; VNR is proposing consideration of 0.72 VNR common units for each outstanding publicly-held ENP common unit (ENP) 23.15 : The proposed transaction would be structured as a merger of Encore Energy Partners with a wholly-owned subsidiary of VNR. The proposal was referred to a committee of independent directors of the general partner which will study, review and evaluate the proposal. There can be no assurance that a definitive agreement will be executed or that any transaction will be approved or consummated. VNR owns 100% of the general partner of ENP and owns ~46% of the outstanding common units of Encore Energy Partners.

7:11AM Hyperdynamics prices 25 mln shares of common stock at $5.00 (HDY) 6.01 : The co intends to use the proceeds of the offering for general corporate purposes and working capital, including an exploratory well drilling program offshore Guinea beginning in 2011.

7:11AM Arlington Asset Investment declares Q1 $0.75/share dividend, prior $0.60/share (AI) 29.70 +1.00 :

7:01AM On The Wires (WIRES) :

* Hydrogenics Corporation (HYGS) announced that the Company has received a contract from Statue Cruises, LLC, a subsidiary of Hornblower Cruises & Events for the delivery of two HyPM HD 16 fuel cell power modules delivering up to 33 kilowatts of continuous power.
* Lexicon Pharmaceuticals (LXRX) announced that Pablo Lapuerta, M.D. has joined the company as its chief medical officer, responsible for directing clinical development of Lexicon's drug candidates from Phase 2 proof-of-concept through Phase 3 and approval.
* Black Hills Corp. (BKH) subsidiary Black Hills Energy - Colorado Electric today announced it has filed a proposal with the Colorado Public Utilities Commission to own 50 percent of an approximate 29 megawatt wind turbine project as a part of its plan to meet the State of Colorado's Renewable Energy Standard.
* Turkcell (TKC), the leading communications and technology company, which has mobile operations in eight countries and is Europe's 3rd largest operator in terms of subscriber base, is delighted to announce that it is now expanding its operations into nine countries by initiating operations in Germany.
* Teleflex Incorporated (TFX) announced a global distribution agreement with Perouse Medical under which Teleflex will distribute the Perouse line of POLYSITE intravenous implantable infusion ports.

7:01AM Gulfport Energy upsizes offering by 800K shares and prices 4.8 mln shares of its common stock at 32.00; half of offering by selling shareholders (GPOR) 32.58 : Net proceeds to co from the sale of the 2.4 mln shares will be ~$73.0 mln. Co intends to use these net proceeds to fund its pending Utica Shale acquisition and for general corporate purposes, which may include expenditures associated with co's 2011 drilling programs. Pending application of the net proceeds for such purposes, co will repay the outstanding indebtedness under its revolving credit facility. co will not receive any proceeds from the sale of shares of its common stock by the selling stockholder.

6:39AM Brown-Forman Corp authorizes $250 mln share repurchase program (BFB) 67.41 : Co announces its Board has authorized the repurchase of up to $250 mln of its outstanding Class A and Class B common shares through November 30, 2011, subject to market and other conditions.

6:30AM Clean Energy Fuels subsidiary announces pricing of $40.2 million bond issuance (CLNE) 14.07 : Dallas Clean Energy McCommas Bluff, LLC, a subsidiary owned 70% by co, has arranged for a $40.2 million tax-exempt bond issuance led by Senior Managing Underwriter FirstSouthwest Company. The bonds will be repaid from the revenue generated by Dallas Clean Energy McCommas Bluff, LLC from the sale of renewable natural gas.

6:08AM On The Wires (WIRES) :

* Black Hills (BKH) subsidiary Black Hills Energy, Colorado Electric, announced it has filed a proposal with the Colorado Public Utilities Commission to own 50% of an ~29 megawatt wind turbine project as a part of its plan to meet the State of Colorado's Renewable Energy Standard.
* Johnson and Johnson (JNJ) unit DePuy announced another recalled hip device lawsuit was filed in Austin, Texas.
* Wynn Resorts (WYNN) announced that it has entered into a strategic relationship with PokerStars. The cos will first work to secure the passage of federal legislation that will finally and conclusively define illegal internet gambling, provide law enforcement with the tools necessary to stop illegal internet gambling, protect consumers by establishing a robust regulatory environment for the safe operation of online poker by experienced operators, and establish a regime for the assessment and collection of taxes.
* The Public Utility Commission of Oregon issued an order approving the pending merger between CenturyLink (CTL) and Qwest Communications (Q). This is the final approval needed to complete the merger.
* Turkcell (TKC) announced that it is expanding its operations into nine countries by initiating operations in Germany.
* Royal Dutch Shell plc (RDS.A, RDS.B) announced that it has issued 31,143,934 A Ordinary shares in relation to the scrip dividend program for the fourth quarter 2010 interim dividend.

3:21AM Delhaize Group discloses Silchester International Investors now owns 4.99% of co's voting rights. (DEG) 81.80 :

3:20AM CryptoLogic appoints Deloitte Corporate Finance to assist it with a strategic review of the co (CRYP) 1.21 : This review is at an early stage and will consider a number of strategic options, including the possibility of an offer being made for the co or a disposal of part of the business. The Board wishes to stress that there can be no certainty that any offer will be forthcoming.

3:03AM S&P Index Changes (INDXCH) : S&P will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 Indices: Huntington Ingalls Industries (HII) will replace Dynegy (DYN) in the S&P MidCap 400 index after the close of trading on Wednesday, March 30. S&P 500 constituent Northrop Grumman (NOC) is spinning off Huntington Ingalls Industries to its shareholders in a transaction expected to be completed after the market close on or about that date. The Northrop Grumman stub will remain in the S&P 500 index following the spin-off. S&P MidCap 400 constituent Edwards Lifesciences (EW) will replace Qwest Communications (Q) in the S&P 500 index, S&P SmallCap 600 constituent The Cooper Companies (COO) will replace Edwards Lifesciences in the S&P MidCap 400 index, and Koppers Holdings (KOP) will replace The Cooper Companies in the S&P SmallCap 600 index after the close of trading on Thursday, March 31. Qwest Communications is being acquired by S&P 500 constituent CenturyLink (CTL) in a deal expected to be completed on or about that date.

2:02AM Endeavour Intl upsizes offering by 2 mln shares and prices 10 mln shares of common stock at $11 per share (END) 11.40 : Co intends to use the net proceeds from the offering to retire all $81.3 mln of its 6% Convertible Senior Notes due 2012. The remaining net proceeds will be used for general corporate purposes.

1:58AM Accretive Health prices 6.5 mln shares of common stock at $23.50 by selling shareholders (AH) 24.25 :

1:48AM Ebix responds to stock price drop; states that it is not aware of any negative developments within co or in its operations that would warrant a sudden drop in price (EBIX) 22.52 : Co states it had received calls from shareholders regarding the sudden drop in the price. The co stated that it is not aware of any negative developments within the co or in its operations that would warrant in such a sudden drop in the price of its stock. The co also refuted the "random implications" in a recent blog posted on Seeking Alpha about the co. The co states it normally does not comment on blog posts, but believes "it is the author's intention to advance his interests, and the interests of other investors that have taken a position adverse to the long-term growth prospects of the company. It is management's opinion that this post misrepresents and distorts facts not relevant to the Company's current financial position, long-term growth prospects and management policies. To that end, the Company reiterates its long term growth initiatives and expansion opportunities, both domestically and internationally with an expanding distribution channel and broadening a product offering."

1:46AM Samson Oil & Gas agrees to sell its gas assets in the Jonah and Lookout Wash Fields for $6.3 mln (SSN) 3.75 : Co announces it has agreed to sell its gas assets in the Jonah and Lookout Wash Fields in the greater Green River Basin, Wyoming for $6.3 mln to a group of private buyers. When closed, the sale will have an effective date of January 1, 2011. The sale of these gas properties will cause the co to recognize a tax loss that will offset some of the income tax liability it previously incurred by the sale of acreage in Goshen County, Wyoming completed in November 2010. The tax benefit is presently expected to be ~$8 mln, though the final amount will not be determined until the tax return for the year ended June 30, 2011 is completed and filed.

1:43AM Quanta Services CEO John Colson to assume role as Executive Chairman in May 2011; COO James O'Neil III to become CEO (PWR) 22.59 : CO announces that chairman and CEO John Colson will assume the role of executive chairman of the board on May 19, 2011, and that president and COO James O'Neil III will succeed Colson as CEO at that time. O'Neil will continue to hold the position of president.

1:37AM Pacific Office Properties Trust declares dividends on Senior Common Stock (PCE) 2.38 : Co announces that its Board of Directors has declared daily cash dividends per share of its senior common stock for the second quarter 2011 at the annualized rate of 7.25% on its offering price of $10.00. The daily dividends for each month within the quarter will be aggregated and paid on or about the 15th of the following month. The Board declined to declare distributions on the preferred units and common units of the co's operating partnership and declined to declare dividends on the co's common stock for the first quarter 2011.

1:34AM NII Holdings increase offering by $250 mln and prices $750 mln 7.625% Senior Notes due 2021 (NIHD) 39.35 :

1:30AM Hyperdynamics files shelf registration for common stock offering; no specific terms announced (HDY) 6.01 :

The co intends to use the proceeds of the offering for general corporate purposes and working capital, including an exploratory well drilling program offshore Guinea beginning in 2011.

1:28AM Universal Display prices 5 mln shares of common stock at $46.00 (PANL) 48.75 : The proceeds of the offering will be used for general corporate purposes, including the acquisition, development and license of properties, assets, entities or technologies.

1:25AM Vantage Drilling extends expiration date for its exchange of $1 bln 11% Senior Secured First Lien Notes due 2015 to March 30, 2011 (VTG) 2.00 :

1:17AM Cephalon wins FENTORA patent suit against Watson (WPI) (CEPH) 57.29 : Co announces United States District Court in Delaware upheld the validity of co's patent and found that Watson Pharmaceuticals' (WPI) proposed generic version of FENTORA infringes that patent. The Court also denied Watson's motion to vacate a previously entered injunction preventing WPI from marketing its product.
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