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Market Update: 110330
4:30 pm : Renewed buying interest has the stock market on pace for its best first quarter performance since 1998.

Robust gains abroad provided a spark that helped stocks extend their prior session advance. No real reaction was made to the latest ADP Employment Change, which indicated that private payrolls increased by 201,000 in March. The Briefing.com consensus had called for an increase of 210,000.

Support continues to be broad based, but telecom has consistently been a top performer during the course of the past few sessions. In fact, the sector is up about 5% week to date. Integrated plays AT&T (T 30.71, +0.66) and Verizon (VZ 38.46, +0.17) have hit new 52-week highs in the process.

Strength in both shares of T and VZ helped the Dow climb to within about 20 points of the two-year high that it set little more than a month ago. Meanwhile, strength among small-cap stocks took the Russell 2000 to its highest level since 2008. The broad-based S&P 500 is back near its one-month high, which has it on pace for a quarterly gain of more than 5%. It encountered some resistance in the 1330 zone, though.

Energy stocks experienced some volatility with President Obama's outline of the U.S. energy policy. Energy stocks had been up about 1%, but gave up all of that gain in the minutes leading up to the speech. A lack of surprises enabled the sector to rebound to a 0.8% gain.

Tech stocks traded with relative weakness all session. Although the sector settled in positive territory, its 0.2% gain paled in comparison with what the broad market scored. Despite that, the tech-rich Nasdaq actually edged out its counterparts. Biotech play Cephalon (CEPH 75.44, +16.69) was a top performer after Valeant Pharma (VRX 50.08, +5.69) announced an all cash takeover offer of $73 per share for the company. Both stocks set 52-week highs.

Even though the end of the first quarter is close at hand, participation remains unimpressive in that share volume failed to break 1 billion on the NYSE again. Part of the reluctance among portfolio managers to rearrange their holdings is owed to caution ahead of the official nonfarm payrolls report, which is due this Friday.

Treasuries settled the day with solid gains. Their advance came in the face of a stronger stock market and lackluster results from an auction of 7-year Notes. The auction drew a bid-to-cover of 2.79, dollar demand of $80.9 billion, and an indirect bidder participation rate of 49.4%.

Advancing Sectors: Telecom (+1.4%), Materials (+1.2%), Consumer Discretionary (+1.1%), Materials (+1.0%), Energy (+0.8%), Financials (+0.7%), Health Care (+0.7%), Consumer Staples (+0.6%), Industrials (+0.4%), Tech (+0.2%)
Declining Sectors: (None)DJ30 +71.60 NASDAQ +19.90 NQ100 +0.5% R2K +1.3% SP400 +1.0% SP500 +8.82 NASDAQ Adv/Vol/Dec 1826/1.81 bln/779 NYSE Adv/Vol/Dec 2191/918 mln/811

3:30 pm : Grains (-0.6%) and softs (-0.1%) were the two declining sectors today. Precious metals (+0.9%) led the advancers. May cocoa shed an additional 2.3%, to close at $2987.00 per metric ton, adding to yesterday's sizeable losses.

May natural gas rallied for 2.1% to close at $4.36 per MMBtu. Today's gains come on the heels of a two session sell off. May crude oil finished lower by 0.5% to $104.27 per barrel. This morning's inventory data sent crude oil to its lowest levels of the morning, but it was able to recoup most of those losses ahead of the close.

April gold ended higher by 0.5% to $1423.80 per ounce, while May silver gained 1.4% to finish at $37.51 per ounce. Both metals retraced mid-morning sell offs to close in positive territory. DJ30 +87.99 NASDAQ +21.53 SP500 +10.22 NASDAQ Adv/Vol/Dec 1779/1.4 bln/818 NYSE Adv/Vol/Dec 2224/588.1 mln/757

3:00 pm : Only an hour remains in today's trade. That has traders turning their focus to tomorrow, which will be the final session of the quarter. As things currently stand, the S&P 500 heads into that session with a quarter-to-date gain of more than 5%, which makes for the stock market's strongest first quarter performance since 1998.

As for tomorrow's calendar, it features weekly initial jobless claims, the Chicago PMI for March, and factory orders for February. Mosaic (MOS 80.02, +1.17) and CarMax (KMX 34.27, +0.32) are the two most widely held names scheduled to report earnings between tonight and tomorrow morning. DJ30 +95.40 NASDAQ +20.15 SP500 +10.44 NASDAQ Adv/Vol/Dec 1755/1.30 bln/840 NYSE Adv/Vol/Dec 2239/545 mln/743

2:30 pm : A favor for risk has caused participants to push small-cap stocks sharply higher. In turn, the Russell 2000 is up more than 1% to its best level since 2008. However, the 5.8% year-to-date gain currently sported by the Russell 2000 matches that of the S&P 500.

Despite the strong tone currently displayed in the broad market, Family Dollar (FDO 52.21, -0.19) is under pressure. The stock's slip comes in the face of an upside earnings surprise and a strong forecast. In contrast, fellow discount retailer Dollar General (DG 31.52, +1.00) is up more than 3%. DJ30 +96.27 NASDAQ +21.17 SP500 +11.06 NASDAQ Adv/Vol/Dec 1722/1.20 bln/858 NYSE Adv/Vol/Dec 2235/504 mln/732

2:00 pm : The S&P 500 recently attempted a push up to the 1332, but it has since eased back from that mark. The stock market's hesitation near the one-month high comes after a near 6% climb in only two weeks.DJ30 +92.98 NASDAQ +19.19 SP500 +10.60 NASDAQ Adv/Vol/Dec 1725/1.11 bln/851 NYSE Adv/Vol/Dec 2232/468 mln/711

1:30 pm : Treasuries haven't made much of a reaction to the outcome of the 7-year Note auction, which drew a bid-to-cover of 2.79, dollar demand of $80.9 billion, and an indirect bidder participation rate of 49.4%. For comparison, the prior auction had a bid-to-cover of 2.86, dollar demand of $82.9 billion and an indirect bidder participation rate of 49.7%. An average of the past six sessions makes for a bid-to-cover of 2.88, dollar demand of $83.6 billion, and an indirect bidder participation rate of 51.4%.DJ30 +95.14 NASDAQ +20.51 SP500 +10.92 NASDAQ Adv/Vol/Dec 1725/1.03 bln/833 NYSE Adv/Vol/Dec 2243/435 mln/692

1:00 pm : Another round of broad-based buying has the stock market back near its one-month high and on pace for a quarterly gain of about 5%.

The S&P 500 has paused at the 1330 line, which hasn't been seen since the start of the month. The stock market's ability to recoup the losses that it suffered in the first half of the month has it on pace for a gain of about 5% for the first quarter. That puts the S&P 500 on pace for its best first quarter performance since 1998.

Telecom stocks have been the best performers over the past few sessions. Week to date the sector is up almost 5%. Blue chips Verizon (VZ 38.84, +0.55) and AT&T (T 30.87, +0.82) have been leaders in the space. Their strength has also helped take the Dow to within close reach of the 33-month high that was set in February.

Energy stocks are back up to a 1% gain after they had slipped ahead of President Obama's speech regarding U.S. energy policy. Oil's recovery to $104.90 per barrel has also helped the sector. Earlier this session oil had been down about a buck amid a greater-than-expected oil inventory build.

Although strength has been broad today, tech has trailed all session. Heavyweight Apple (AAPL 348.65, -2.31) has hampered the sector following its downgrade by analysts at Jeffries. Tech may be trading with relative weakness, but that really hasn't hurt the Nasdaq. Cephalon (CEPH 75.34, +16.59) has been a leader in the Nasdaq following news that it received a takeover offer of $73 per share in cash from Valeant Pharma (VRX 48.29, +3.90).

Participants got a preview of the official nonfarm payrolls report with the ADP Employment Change. It indicated that private payrolls increased by 201,000 in March. Since the number was on par with what had been expected, participants had only a muted response. DJ30 +90.54 NASDAQ +19.93 SP500 +10.54 NASDAQ Adv/Vol/Dec 1728/920 mln/811 NYSE Adv/Vol/Dec 2224/390 mln/703

12:30 pm : The top of the hour brings results from an auction of 7-year Notes. Treasuries have actually traded higher ahead of the announcement, despite strength in the stock market.

As was the case with auctions earlier this week, the current yield is just a couple of basis points above where it was for the previous auction, so value buyers are less likely to show up. Briefing.com's fixed income analysts are looking for a bid-to-cover of around 2.76, but anything below 2.66 would be considered weak while a number above 2.98 would be strong. The prior auction had a bid-to-cover of 2.86. DJ30 +89.95 NASDAQ +19.96 SP500 +10.48 NASDAQ Adv/Vol/Dec 1742/848 mln/789 NYSE Adv/Vol/Dec 2214/358 mln/674

12:00 pm : Energy stocks have rebounded with the opening comments of President Obama's speech regarding U.S. energy policy. Energy stocks had pulled back from a gain of about 1% to a gain of only about 0.3%, but they now sport a 0.8% gain.

Materials stocks have rallied, too. The sector actually traded with a slight loss about an hour ago, but it is now up 0.7%. PPG Industries (PPG 94.73, +4.14) is a top performer in the basic materials space, thanks to upside guidance. DJ30 +73.57 NASDAQ +15.63 SP500 +8.53 NASDAQ Adv/Vol/Dec 1672/735 mln/800 NYSE Adv/Vol/Dec 2157/310 mln/708

11:30 am : The S&P 500 is back near its one-month high, but it is having some trouble extending today's gains up to the 1330 line. Nonetheless, stocks continue to sport strong gains.

Tech has been lagged noticeably today, though -- the sector is up just 0.1%. Heavyweight Apple (AAPL 348.43, -2.53) has been a source of weakness in the sector. Computer maker Dell (DELL 14.51, -0.26) has also been a drag.

Despite relative weakness among tech issues, the tech-rich Nasdaq isn't very far behind its counterparts. Primary support has been provided by Internet retailers Amazon.com (AMZN 178.70, +4.12) and eBay (EBAY 31.43, +0.35), but Cephalon (CEPH 75.25, +16.50) has scored one of the strongest gains in the Nasdaq following news that it received a takeover offer of $73 per share in cash from Valeant Pharma (VRX 48.97, +4.60). DJ30 +68.91 NASDAQ +13.13 SP500 +7.30 NASDAQ Adv/Vol/Dec 1600/610 mln/837 NYSE Adv/Vol/Dec 2049/265 mln/769

11:00 am : The drop in oil prices below $104 per barrel, which makes for a loss of almost 1%, has undercut the energy sector. As a group, energy stocks had been up almost 1% in the first half hour of trade, but they are now up a much more modest 0.3% for the day.

Schlumberger (SLB 92.76, -1.60) is a primary source of weakness in the sector after it scored a new 52-week high in the prior session. Fellow oil services plays Baker Hughes (BHI 72.79, -1.37) and National Oilwell Varco (NOV 80.75, -1.51) are also grappling with selling pressure. DJ30 +79.47 NASDAQ +15.01 SP500 +7.87 NASDAQ Adv/Vol/Dec 1557/493 mln/828 NYSE Adv/Vol/Dec 2024/213 mln/764

10:35 am : Strength in the dollar index this morning is pressuring select commodities.

Overnight and ahead of the open, April crude was in the red. Shortly after pit trading began crude pushed higher, barely moving into positive territory at $104.81/barrel. This was short-lived, however, as it quickly sold-off to new session lows of $104.02/barrel ahead of inventory data. Following the data, which showed a build of 2945K versus consensus of a build of 1500K, crude ticked higher and is now at $103.64/barrel, down 1.1%.

After losing 5% in a two-day sell off, April natural gas is modestly higher this morning, showing gains of 1.3% at $4.32 MMBtu.

Precious metals have been higher all morning, but pulled back in currently activity. April gold pulled back to the unchanged line and is now at $1418.80/oz and May silver is at $37.30/oz, up 0.8%.DJ30 +61.38 NASDAQ +9.49 SP500 +6.19 NASDAQ Adv/Vol/Dec 1485/334.9 mln/807 NYSE Adv/Vol/Dec 1995/151.0 mln/717

10:00 am : Shares of homebuilder Lennar (LEN 18.73, -0.34) failed to participate in the prior session's advance, despite an upside earnings surprise for the latest quarter. Its weakness continues this morning as the stock works its way down to a new one-month low. The weakness has spread to other homebuilders, which are collectively down in excess of 1%.

Internet retailers are having another strong session, though. The likes of Amazon.com (AMZN 179.26, +4.64) and Netflix (NFLX 240.55, +3.17) have led the group to a 2% gain this morning. More impressive is the 7% gain that the group has staged during the course of the past five trading sessions.

Advancing Sectors: Telecom (+1.5%), Utilities (+1.0%), Energy (+0.9%), Materials (+0.9%), Health Care (+0.8%), Consumer Discretionary (+0.6%), Consumer Staples (+0.6%), Industrials (+0.3%), Financials (+0.3%), Tech (+0.2%)
Declining Sectors: (None)DJ30 +67.97 NASDAQ +14.60 SP500 +7.61 NASDAQ Adv/Vol/Dec 1530/165 mln/644 NYSE Adv/Vol/Dec 1997/85 mln/627

09:45 am : Telecom continues to trade higher. The sector is up another 1.0% after it advanced 1.5% yesterday and 1.4% the day before. Integrated plays continue to lead the way. As such, shares of Dow component Verizon (VZ 38.75, +0.46) are at fresh 52-week highs.

In contrast, financials continue to lag. Although the sector is in positive territory, its 0.2% gain this morning is less than half of what the broader market has already achieved. Heavyweights Bank of America (BAC 13.33, -0.02), Citigroup (C 4.43, -0.02), and Goldman Sachs (GS 158.14, -0.33) are hampering the sector this morning. DJ30 +53.25 NASDAQ +13.39 SP500 +6.53

09:15 am : S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +9.90. Overseas strength has provided a spark to stock futures, which point to an opening gain. Such a start would at the very least help solidify the stock market's near 5% gain for the first quarter. As things currently stand, that would make for the strongest first quarter performance for the S&P 500 since 1998. Premarket strength persists in the wake of an in-line ADP Employment Change report, which somewhat of a precursor to the official nonfarm payrolls report that will be posted Friday morning. Caution ahead of that report has put a cap on participation and, in turn, share volume in recent sessions, despite typical end-of-quarter portfolio rebalancing and window dressing.

09:05 am : S&P futures vs fair value: +7.20. Nasdaq futures vs fair value: +11.60. Europe's major bourses are up with heady gains after a lackluster session yesterday. Germany's DAX is leading Europe's bourses with a 1.6% gain. France's CAC has advanced only half of that, but the 0.8% gain is still impressive in its own right. GDF Suez, ArcelorMittal (MT), and Total (TOT) are among the CAC's top performers. Financial outfits BNP Paribas and Credit Agricole are caught up in a flurry of selling interest, though. Britain's FTSE is currently up 0.4%. Lloyds Group (LYG) has run into some selling interest following its latest quarterly report, which featured a light revenue figure that has overshadowed stronger-than-expected earnings. More generally, European Auto Suppliers ratings were left unchanged by Moody's in the wake of Japan's earthquake. As for data, the eurozone Business Climate Index came in at 1.41 for March after a reading of 1.46 in February. The final Consumer Confidence reading for March remained unchanged at -10.6.

Japan's Nikkei advanced 2.6%. Hitachi (HIT) was a top performer after it reassured investors that efforts are in place to return production to capacity. Nissan (NSANY) also announced that production will be at full capacity in coming months. The comments came amid news that Moody's said that Japanese automakers are expected to be weakened in the aftermath of the country's massive earthquake. Meanwhile, analysts at Fitch put insurers Mitsui Sumitomo, Aioi Nissay Dowa, Sompo Japan, and Nippon KOA on Rating Watch Negative. Economic data featured preliminary February Industrial Production, which increased by 0.4% after a 1.3% increase in January. Hong Kong's Hang Seng ascended to a 1.7% gain. Hutchison Whampoa surged following its latest quarterly report. Agricultural Bank also had a strong reaction to its latest report. Mainland China's Shanghai Composite failed to follow the other major Asian averages; it slipped 0.1%. China's Leading Index for February came in at 101.05, barely changed from January.

08:30 am : S&P futures vs fair value: +7.40. Nasdaq futures vs fair value: +13.60. Stock futures are off of their morning highs, but they continue to trade with strength. The ADP Employment Change for March was of little surprise. It indicated that 201,000 private payrolls were added during the month. The consensus among economists polled by Briefing.com had been pegged at 210,000. The report's February figure was revised downward to 208,000 from 217,000, though.

08:05 am : S&P futures vs fair value: +8.70. Nasdaq futures vs fair value: +16.20. Buying momentum has extended into premarket trade so that stock futures point to a positive start. Strength among the major averages abroad has added a positive backdrop. Corporate news flow is somewhat slow this morning, but the latest merger and acquisition activity features word that Cephalon (CEPH) has been approached by Valeant Pharma (VRX) with a buyout offer valued at about $5.7 billion, or $73 per share of CEPH. The offer represents a premium of about 24% over CEPH's prior session closing price. The ADP Employment Change Report is due shortly -- 8:15 AM ET, to be exact. Weekly oil inventory data is due later this morning (10:30 AM ET) and results from an auction of 7-year Notes are scheduled for this afternoon (1:00 PM ET). A handful of regional Fed Presidents -- Lacker, Hoenig, and Bullard -- are slated for separate speeches throughout this afternoon.

06:40 am : [BRIEFING.COM] S&P futures vs fair value: +6.60. Nasdaq futures vs fair value: +11.40.

06:40 am : Nikkei...9708.79...+249.70...+2.60%. Hang Seng...23451.43...+391.10...+1.70%.

06:40 am : FTSE...5959.86...+27.70...+0.50%. DAX...7036.41...+102.00...+1.50%.
http://finance.yahoo.com/marketupdate/update

5:56PM Ameristar Casinos announces senior notes offering (ASCA) 17.75 +0.72 : Co announced that it is making a private placement offering of $800 million of new senior unsecured notes due 2021.

5:52PM K-V Pharmaceutical reported that Wedgewood Pharmacy will continue to compound 17P (Hydroxyprogesterone Caproate) (KV.A) 5.65 -1.46 : Wedgewood Pharmacy will continue to prepare and dispense 1ml, 5ml and 10ml multi-dose vials of 17P (Hydroxyprogesterone Caproate). The drug often is prescribed to prevent premature births. The announcement followed a news release from the Food and Drug Administration (FDA) that it "does not intend to take enforcement action against pharmacies that compound" the substance.

5:46PM Geomet reports Q4 (GMET) 1.78 +0.02 : Reports Q4 (Dec) earnings of ($0.12) per share, incl items, may not be comparable to the Thomson Reuters two-anlayst est of ($0.04); revenues fell 8.2% year/year to $7.4 mln vs the $11.9 two-analyst est consensus.

5:35PM SandRidge Energy, in filing, requests the withdrawal of its registration statement on Form S-3 (SD) 12.38 +0.18 : Co said, "pursuant to Rule 477 under the Securities Act of 1933, SandRidge Energy, Inc. (the "Registrant") hereby requests the withdrawal of its registration statement on Form S-3 (the "Registration Statement") (File No. 333-173153) filed on March 30, 2011. This application for withdrawal is being made because the registration statement was inadvertently tagged with an incorrect EDGAR submission code. The Registrant is filing the appropriate Form S-3ASR concurrently with this withdrawal request. Accordingly, we request that the Commission issue an order granting the withdrawal of the Registration Statement as soon as possible."

5:30PM Miller Energy Resources announced the pending transfer of the listing of its common stock from the NASDAQ Global Market to the New York Stock Exchange (MILL) 5.00 +0.02 :

5:30PM Berkshire Hath B color: David Sokol was said to be a top candidate to be Warren Buffett's successor as CEO of Berkshire Hathaway (see 17:07 comment) (BRK.B) 85.46 +0.75 :

5:21PM Brandywine Realty Trust prices $325 mln of 4.95% seven-year senior unsecured notes (BDN) 12.13 +0.16 : Co announced that its operating partnership, Brandywine Operating Partnership, L.P., has priced the underwritten public offering of $325 million of 4.95% senior unsecured guaranteed notes due April 15, 2018. Interest on the notes will be payable semi-annually on April 15 and October 15 commencing October 15, 2011. The notes are being offered to investors at a price of 98.907% with a yield to maturity of 5.137%, representing a spread at pricing of 230 basis points to the yield on the 2.75% February 28, 2018 Treasury note.

5:21PM CIT Group announces plans to redeem an additional $2.5 bln of Series A notes (CIT) 42.22 +0.08 : Co announced that it will redeem an additional $2.5 billion of its 7% Series A Second Lien Notes. This redemption will include the ~$1.1 billion principal amount of remaining 2013 Series A Notes and ~$1.4 billion principal amount of the 2014 Series A Notes.

5:18PM GS Financial reports that Home Bancorp announces acquisition of GSLA for $21.00 (GSLA) 17.49 +0.24 : Home Bancorp (HBCP), the holding co of Home Bank and GS Financial (GSLA), the holding co of Guaranty Savings Bank, announced that they have entered into a definitive agreement for Guaranty Savings Bank to merge into Home Bank in a cash transaction. The merger was unanimously approved by both companies' boards of directors. The holding companies for each bank will also merge. Under the terms of the agreement, shareholders of GS Financial will receive $21.00 per share in cash upon completion of the merger. The combined company will have total assets of ~$950 million, $625 million in loans and $750 million in deposits.

5:14PM Berkshire Hath B shares dropped 2.3% to $83.50 following the news that David Sokol resigned from Berkshire Hathaway (see 17:07 comment) (BRK.B) 85.46 +0.75 :

5:07PM Berkshire Hathaway reports that Warren E. Buffett, CEO of Berkshire Hathaway, announces the resignation of David L. Sokol (BRK.B) 85.46 +0.75 : Warren Buffett said, "I had not asked for his resignation, and it came as a surprise to me. Twice before, most recently two or so years ago, Dave had talked to me of resigning. In each case he had given me the same reasons that he laid out in his Monday letter. Shortly before I left for Asia on March 19, I learned that Dave first purchased 2,300 shares of Lubrizol (LZ) on December 14, which he then sold on December 21. Subsequently, on January 5, 6 and 7, he bought 96,060 shares pursuant to a 100,000-share order he had placed with a $104 per share limit price. Dave's purchases were made before he had discussed Lubrizol with me and with no knowledge of how I might react to his idea. In addition, of course, he did not know what Lubrizol's reaction would be if I developed an interest. Furthermore, he knew he would have no voice in Berkshire's decision once he suggested the idea; it would be up to me and Charlie Munger, subject to ratification by the Berkshire Board of which Dave is not a member. Neither Dave nor I feel his Lubrizol purchases were in any way unlawful. He has told me that they were not a factor in his decision to resign."

5:01PM Monarch Community Bank announced today a restatement of Q4 earnings (MCBF) 1.46 -0.09 : Monarch Community Bancorp (MCBF), the parent co of Monarch Community Bank, announced today a restatement of Q4, 2010 earnings and capital position, concurrent with the completion of a regularly scheduled annual FDIC and OFIR examination. Net loss for the quarter was ($401,000), compared to a loss of $(17.5) mln for the same period a year ago. Basic and diluted earnings (loss) per share in Q4 of 2010 were $(.67), compared to ($8.90) reported for the fourth quarter of 2009. For the year, net loss in 2010 was $(11.2) mln compared to net loss of $(19.7) mln in 2009. Basic and diluted loss per share for the full year were $(5.68) in 2010 compared to $(10.03) in 2009. This restatement results in the raising of the Total Risk Based Capital Ratio to 8.08% as of December 31, 2010, returning the bank to the status of "adequately capitalized" as defined by the FDIC.

5:00PM General Maritime announces proposed public offering of common stock; the co does not list an amount (GMR) 2.16 +0.09 : The co intends to use all of the net proceeds from the offering to fund a portion of the remaining purchase price for its previously announced acquisition of a Suezmax vessel and for general corporate purposes.

5:00PM Toro CFO Retires (TTC) 66.29 +1.93 : Co announced that Steve Wolfe, vice president of finance and chief financial officer, plans to retire after 27 years with the co. Wolfe will continue to serve as vice president and CFO until his retirement on July 31, 2011 to ensure a smooth transition in financial leadership.

4:57PM TAT Technologies reports Q4 ($0.32), incl items, vs. ($0.12). incl items, in last year's quarter; revs rosed 29.7% to $23.8 mln (TATT) 5.30 -0.10 :

4:42PM Poniard Pharma reports Q4 (PARD) pard : Reports Q4 (Dec) earnings of ($0.11), $0.02 better than the Thomson Reuters t wo-analyst est of ($0.13); revenues were $0.00 mln vs the $0.00 mln consensus.

4:37PM Grubb & Ellis Co receives $18 mln financing commitment from Colony Capital (GBE) 0.75 +0.01 : Co announced that it has received an $18 million financing commitment from Colony Capital, LLC, a private, international investment firm focusing primarily on debt and equity investments in real estate-related assets and operating companies, headquartered in Los Angeles. In conjunction with this financing, Colony was granted the right to an exclusive 60-day negotiating period during which it can evaluate a potential larger strategic investment with Grubb & Ellis.

4:30PM Photronics acquires $30.4 mln aggregate principal amount of its outstanding 5.5% convertible notes (PLAB) 8.91 +0.32 : Co announced that it acquired $30.4 mln aggregate principal amount of its 5.5% convertible senior notes due in October 2014. The convertible notes were acquired in individually negotiated transactions, by delivering ~$19.7 mln in cash and approximately 4.5 mln shares of its common stock with an approx. value of $39.2 mln. As a result, the Company expects to record an after-tax charge in the range of $30 mln to $31 mln, of which ~67% is expected to be noncash. As a result of the after-tax charge and the issuance of common stock, the Company's equity will increase by ~$9 mln.

4:30PM SunTrust Banks completes repurchase of preferred stock under TARP (STI) 29.21 -0.11 : Co announced that it has completed its previously announced repurchase of $3.50 billion of Fixed Rate Cumulative Preferred Stock, Series C and $1.35 billion of Fixed Rate Cumulative Preferred Stock, Series D held by the United States Treasury under the Troubled Asset Relief Program's Capital Purchase Program.

4:30PM X-Rite announces refinancing of outstanding indebtedness and payoff of mandatorily redeemable preferred shares (XRIT) 4.75 +0.02 : XRIT announced that the co has entered into a new $225 mln Senior Secured Credit Facility with Bank of America, Fifth Third Bank, and GE Capital Corpn as co-lead and syndication agents (the Refinancing). This facility provides for a revolving credit facility in an aggregate principal amount of $55 mln and a term loan in the aggregate principal amount of $170 mln. The new credit facility will refinance the Company's existing indebtedness under the 2007 Senior Secured Credit Facilities. In addition, the co will use ~$49.4 mln of proceeds under the credit facility to redeem all of its outstanding Series A Preferred Stock as part of a plan to substantially reduce its overall cost of capital.

4:28PM Helix Energy reported that Helix Well Containment Group to significantly expand deepwater capabilities (HLX) 17.12 -0.41 : The Helix Well Containment Group (HWCG) announced it will substantially increase its subsea well containment capabilities this year by expanding its ability to control and contain a release in water depths up to 10,000 feet. HWCG is a consortium of 22 deepwater operators in the Gulf of Mexico. Building upon equipment effectively used in the Deepwater Horizon response, HWCG has signed an agreement with Helix Energy Solutions Group (HLX) to provide the primary components of the response. Additionally, HWCG has agreements in place with more than 30 service providers who will provide additional services, products and personnel, if needed.

4:25PM General Maritime misses by $0.09, misses on revs (GMR) 2.16 +0.09 : Reports Q4 (Dec) loss of $0.46 per share, $0.09 worse than the Thomson Reuters consensus of ($0.37); revenues fell 14.7% year/year to $51.3 mln vs the $60.2 mln consensus.

4:23PM Mosaic beats by $0.14, misses on revs (MOS) 80.45 +1.60 : Reports Q3 (Feb) earnings of $1.21 per share, $0.14 better than the Thomson Reuters consensus of $1.07; revenues rose 27.9% year/year to $2.21 bln vs the $2.34 bln consensus. Co reports Q3 phosphate sales volume of 2.4 mln vs. 2.4-2.7 mln company guidance; reports DAP pricing of $543 versus $510-540 per tonne company guidance. Co reports Q3 potash sales volume of mln 1.9 vs. 1.9-2.1 mln company guidance; reports MOP pricing of $358 versus $330-350 per tonne company guidance. Total sales volumes for the Phosphates segment are expected to range from 2.5-2.9 mln tonnes for Q4. Co's realized DAP price, FOB plant, for Q4 is estimated to range from $560-590 per tonne. Total sales volumes for the Potash segment are expected to range from 1.9-2.2 mln tonnes in Q4. Co's realized MOP price, FOB plant, for Q4 is estimated to range from $385-415 per tonne.

4:21PM Neptune Technologies and its subsidiary Acasti Pharma announce that Acasti shares will start trading under APO ticker on the TSX-Venture Exchange (NEPT) 2.30 +0.01 :

4:19PM Financial Inst. completes redemption of TARP funds (FISI) 17.96 +0.32 : Co has redeemed the remaining $25.0 million of its Series A Fixed Rate Cumulative Perpetual Preferred Stock, issued to the U.S. Department of the Treasury pursuant to the Troubled Asset Relief Program ("TARP") in December 2008.

4:18PM Canadian Natl Rail: Metrolinx purchased a section of CNI's Kingston Subdivision rail line for C$299 mln (CNI) 74.47 +0.23 :

4:17PM Chevron names Paul V. Bennett vice president and treasurer, effective May 1, 2011 (CVX) 108.01 +0.64 :

4:14PM U.S. Concrete announced that Michael W. Harlan, President and Chief Executive Officer, will step down in 2011 (USCR) 9.52 -0.09 : Mr. Harlan will remain with the Company in his current role while the Board of Directors conducts a search for his replacement. Board of Directors has engaged Russell Reynolds Associates to assist in the search for a new CEO and named Director Kurt Cellar to head the Search Committee.

4:10PM Hershey Foods reaffirms FY11 outlook; announces price increases (HSY) 54.72 -0.07 : Co announced an increase in wholesale prices across the majority of its U.S., Puerto Rico and export portfolio. A weighted average price increase of approximately 9.7% across the co's instant consumable, multi-pack, packaged candy and grocery lines is effective today. "These changes will help offset part of the significant increases in Hershey's input costs, including raw materials, packaging, fuel, utilities and transportation... Given this timing and some higher than anticipated costs, we do not expect this action to materially impact our financial expectations this year. We expect the majority of the financial benefit from this pricing action to impact our earnings in 2012. As a result, we continue to expect full-year 2011 net sales, including the impact of foreign currency exchange rates, and adjusted earnings per share-diluted growth to be around the top of the Company's long-term 3 to 5 percent and 6 to 8 percent objectives, respectively." Co reaffirms FY11 EPS of $2.70-2.76 vs consensus of $2.78. Current consensus sees revenue growth of 4.91%.

4:10PM Deltek signed a strategic deal with the Danish consulting firm COWI (PROJ) 7.61 +0.03 : Co signed a strategic deal with the Danish consulting firm COWI. COWI will use Deltek as a critical component of its corporate-wide One Company strategy to standardize on one ERP system to unify and align its global organization.

4:09PM Capital Lease Funding commences a public offering of 10 mln shares of its common stock (LSE) 5.70 -0.10 : Co intends to grant the underwriters of the offering a 30-day option to purchase up to an additional 1,500,000 shares of its common stock to cover over-allotments, if any. Citi and Wells Fargo Securities are the joint book-running managers of the offering.

4:08PM Neurogesx reports Q4 in-line (NGSX) 4.00 +0.19 : Reports Q4 (Dec) earnings of ($0.69), in-line with the Thomson Reuters consensus of ($0.69); revenues rose 24.3% year/year to $2.3 mln vs the $2.38 mln consensus.

4:06PM A. Schulman to add production line at China, Texas manufacturing facility to accommodate growing demand (SHLM) 24.39 +0.49 : Co will add several production lines to the facility and expects them to be operational by early 2012.

4:06PM Amgen to appeal CHMP opinion on Vectibix use with chemotherapy in metastatic colorectal cancer in Europe (AMGN) 8.80 +0.12 : Co announces that it has submitted a request to the European Medicines Agency for a re-examination of the negative opinion issued in March by the Committee For Medicinal Products for Human Use for the use of Vectibix in combination with chemotherapy for patients with wild-type KRAS metastatic colorectal cancer. Amgen believes that Vectibix in combination with chemotherapy provides an important treatment option for patients with wild-type KRAS mCRC.

4:06PM MAKO Surgical announces multi-system order from Hospital Management Associates (MAKO) 21.44 -0.27 : Co announces receipt of a binding commitment for the establishment of eleven new MAKOplasty sites from Hospital Management Associates (HMA). It is expected that these MAKOplasty sites will be established over the course of 2011.

4:05PM Neoprobe Corporation announces Retirement of David Bupp and appointment of Mark Pykett as President and CEO effective April 15th (NEOP) 4.19 +0.12 : Co announces that President and Chief Executive Officer David Bupp will retire from the Company effective April 15th. The Company's Board of Directors appointed Mark Pykett the new President and CEO, effective April 15th. Pykett will also be nominated to the Neoprobe Board of Directors. Bupp will remain on the Neoprobe Board of Directors and continue to assist the Company through the final stages of commercialization of Lymphoseek and other product development activities as a consultant.

4:01PM Analog Devices priced an offering of $375 million aggregate principal amount of 3.00% senior unsecured notes due April 15, 2016 (ADI) 39.51 +0.01 :

3:51PM Mine Safety increases production of its air-purifying respirator line in two U.S. factories in response to greater demand for such products from Japan (MSA) 36.16 +0.27 :

3:37PM Some relative strength in Casino/Gaming in recent action -- PENN, SHFL, BYD, LVS, MGM, PNK, BYI, MCRI, IGT, ISLE, WYNN, WMS (BJK) :

3:20PM Ameron Int'l: Barington Capital Group announces preliminary voting results from the 2011 Annual Meeting of Stockholders of AMN indicate that the Barington Group's nominee has been elected to the Board (AMN) 69.80 -4.95 : Barington Capital Group, L.P. announces that the preliminary voting results from the 2011 Annual Meeting of Stockholders of Ameron International Corporation indicate that the Barington Group's nominee -- James A. Mitarotonda -- has been elected to the Board. A preliminary count of the voting results by MacKenzie Partners, Inc., the Barington Group's proxy solicitor, shows that the stockholders of Ameron have overwhelmingly supported the election of Mitarotonda, with ~72.6% of the votes cast voting in favor of his election as a director of co.

3:12PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Wheat +1.7% (COMDX) : May corn finished 8.5 cents lower to $6.6325. May wheat fell 10 cents to close at $7.2725, May soybeans rose 10.5 cents to close at $13.72, April ethanol closed lower by 0.022 cents at $2.47, while May world sugar futures closed up 0.19 cents to 27.21 cents.

3:08PM Multi-Color announces the acquisition of Italian wine label specialist La Cromografica; acquisition is expected to be immediately accretive (LABL) 19.55 +0.17 : Co has entered into a binding agreement to acquire 100% ownership of La Cromografica for a purchase price of ~Euro 8.3 mln, payable in cash with an expected closing on April 1, 2011. Located in the heart of Tuscany in Florence, Italy, La Cromografica specializes in wine labels for Italian wines. The company's revenues were ~$11 mln (Euro 8 mln) in 2010 with profitability consistent with LABL's other wine label printing operations. The acquisition is expected to be immediately accretive.

3:06PM General Motors to invest $30 mln+ in its Pontiac Stamping Plant earmarked for tooling and equipment (GM) 31.55 +0.45 :

3:03PM NJ Resources unit received approval from the New Jersey BPU to continue its Accelerated Infrastructure Program (NJR) 42.84 +0.42 : New Jersey Natural Gas received approval from the New Jersey Board of Public Utilities to continue its Accelerated Infrastructure Program (AIP II) to accelerate previously planned capital expenditures. Work associated with AIP II will commence no later than December 31, 2011 and is expected to be completed by October 31, 2012.

2:50PM Rochester Medical announced that the shareholders of Fornix BioSciences approved previously announced sale of Laprolan B.V. to Rochester Medical (ROCM) 10.77 -0.07 :

2:48PM Index Change Reminder (INDXCH) : Huntington Ingalls Industries (HII) will replace Dynegy (DYN) in the S&P MidCap 400 index after the close of trading today. 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 this date.

2:38PM General Motors edges to minor new high of 31.64, slightly under last week's rebound high/five day range top at 31.70 (GM) 31.61 +0.51 :

2:33PM General Electric extends to fresh session high of 20.25 in recent trade, hovering modestly under its rising 50 day sma at 20.31 (GE) 20.24 +0.38 :

2:33PM NYMEX Energy Closing Prices (COMDX) : May crude oil settled lower by $0.52 to $104.27, May natural gas gained 9.2 cents to end at $4.355, April heating oil shed 0.4 cents to close at $3.0375, while April RBOB gasoline gained 1.51 cents to finish at $3.0609.

2:30PM Answers: Glass Lewis joins ISS in recommending Answers.com Stockholders vote for merger (ANSW) 10.42 0.00 : Merger vote scheduled for April 12, 2011.

2:30PM Camco Financial appoints Kirksey as Chief Financial Officer (CAFI) 2.10 +0.12 : Co announces that John E. Kirksey has been appointed to the position of Senior Vice President, Chief Financial Officer and Treasurer for Camco and Advantage Bank, co's subsidiary. Kirksey was previously employed by Modern Medical, Inc from 2008 through 2010 serving as the Director of Operations

2:02PM Generex Biotech appoints Mark Fletcher as CEO, David Brusegard as COO, and Stephen Fellows as acting CFO; Seeks to spin off Antigen Express (GNBT) 0.27 -0.03 : John Barratt, the Chairman of the Company's Board of Directors, advised that the Board has appointed Mark Fletcher as the Company's President & Chief Executive Officer on a go-forward basis. Fletcher apprised of the Company's intention to spin-out its wholly-owned subsidiary, Antigen Express as a separate DTC-eligible SEC registered company. Fletcher stated that following the spin-out, Antigen Express is expected to seek to list its common stock on a national stock exchange. The spin-out will be accomplished by the issuance of one or more dividends of Antigen Express stock to Generex stockholders. Following the issuance of stock dividends, Generex expects to retain a controlling interest in Antigen Express, but the exact proportion of the shares to be held by Generex has not yet been determined.

1:47PM BT Group PLC reports acceleration of pension deficit contribution for 2011; not impact previously announced outlook for free cash flow (BT) 30.05 +0.62 : Co announces that it has brought forward the payment of its next pension deficit contribution from the due date in December 2011 to March 2011, in agreement with the Trustee of the BT Pension Scheme. Co has taken the decision to accelerate the payment as it is economically beneficial to do so and utilises existing cash deposits. As a result of the acceleration, BT has made a cash payment of 505 mln pounds into the BTPS, being the actuarial value of the 525 mln pounds due to have been paid in December 2011. In addition, the payment will be tax deductible at a corporation tax rate of 28%, rather than the 26% which will apply in the 2011/12 financial year, and the timing of the tax deduction will be brought forward to the first half of the 2011/12 financial year. The early payment does not impact the company's previously announced outlook for free cash flow.

1:45PM Verisk Analytics prices $450 million of senior notes due 2021 (VRSK) 32.64 -0.07 : Co announces the pricing of an issuance of $450 million of 5.800% Senior Notes due 2021. Co expects to use the net proceeds for general corporate purposes, including the repayment of indebtedness and/or acquisitions. BofA Merrill Lynch and J.P. Morgan acted as book-running managers for the offering. SunTrust Robinson Humphrey and Wells Fargo Securities acted as co-managers.

1:31PM COMEX Metals Closing Prices (COMDX) : April gold ended higher by $8 to $1424.20, May silver rallied for $0.513 to close at $37.50, while May copper fell 7.45 cents to finish at $4.272.

1:10PM Wowjoint Holdings signs new equipment sales contract for the wind power industry (BWOW) 2.25 -0.07 : British Green (Tongliao) Wind Power Equipment signed a contract with Wowjoint to purchase a 100 ton wind tower hoist. The contract with Tongliao Green represents its first sale into the clean energy industry. The product is anticipated to be delivered within three months and provides a strong reference for further marketing and branding efforts underway within the wind industry. "We plan to capitalize on this order to obtain additional contracts within the wind power industry as well as other clean energy industries such as solar and geothermal, further diversifying our revenue base."

1:02PM KeyCorp has completed the repurchase of $2.5 billion of Fixed-Rate Perpetual Preferred Stock, Series B issued to the U.S. Treasury (KEY) 8.90 +0.15 : Co announced that it completed the repurchase of $2.5 bln of Fixed-Rate Perpetual Preferred Stock, Series B issued to the U.S. Department of the Treasury as a result of Key's participation in the Capital Purchase Program of the Troubled Asset Relief Program.

1:02PM Comcast and Mnet reach new carriage agreement (CMCSA) 24.73 +0.21 : The deal calls for the network to be launched on the D1 digital tier in the major markets of Chicago, Boston, San Francisco and Sacramento by September 1, 2011.

1:01PM United Continental announced Continental agreement reached with passenger service airport and reservations agents (UAL) 23.71 +0.84 : Co announced that Continental reached consensus with the employee representatives of its passenger service airport and reservations agents on improvements to pay, benefits and work rules. Continental employs approximately 7,200 passenger service airport and reservations agents. Discussions with the executive councils for these workgroups, consisting of representatives elected by their co-workers, began in January 2011.

12:59PM Fronteer Gold securityholders approve plan of arrangement with Newmont (NEM) (FRG) 15.05 +0.15 : Under the Arrangement, shareholders of Fronteer Gold will receive Cdn$14.00 in cash and one common share of a new company, which will own certain exploration assets of Fronteer Gold, for each common share of Fronteer Gold.

12:52PM ZOOM Technologies responds to article noting 'significant error' that co believes mislead investors (ZOOM) 3.40 -0.39 : Co says the Seeking Alpha article inaccurately states the name of the co's auditor. Co's auditor is Goldman Kurland Mohidin, LLP of Encino, California. Co says, "It is unfortunate that Seeking Alpha chose to include Zoom Technologies in an article that highlights Chinese small-cap companies accused of fraud and whose stocks have been halted by the NASDAQ OMX. We are proud of our institutional shareholder presence and welcome our shareholders and other prominent institutional investors and investment bankers to visit our headquarters and R&D facilities in Beijing, as well as our manufacturing facilities in Tianjin to conduct their own due diligence."

12:47PM Golar LNG wholly-owned subsidiary filed for for an initial public offering (GLNG) 23.93 -0.38 : Golar LNG Limited announced that its wholly-owned subsidiary, Golar LNG Partners LP, a Marshall Islands limited partnership, has filed a registration statement with the SEC for an initial public offering of the Partnership's common units. The Offering currently is scheduled to include the sale by Golar of 12 mln common units, representing a 30.1% limited partner interest in the Partnership, and to increase to 13.8 mln common units if the underwriters exercise in full their over-allotment option. The common units have been approved for listing on The Nasdaq Global Market under the symbol "GMLP". Immediately following, Golar will own the Partnership's general partner and an ~67.9% limited partner interest in the Partnership. Citi, BofA Merrill Lynch and Morgan Stanley will act as the joint bookrunning managers of the offering. Citi and Evercore Partners served as co-structuring agents on behalf of Golar in connection with the Offering.

12:43PM Lockheed Martin receives a production contract totaling $789.8 million to produce the Terminal High Altitude Area Defense (THAAD) Weapon System for the Missile Defense Agency (LMT) 79.87 -0.48 : The contract includes $694.9 million and for the production of 48 THAAD interceptors, six THAAD launchers, four fire control units and additional support equipment. An option for additional launchers in the amount of $94.8 million was also award for a total value of $789.8 million. These components will be employed by THAAD Batteries 3 and 4 for the U.S. Army. Delivery to Batteries 3 and 4 will be completed in 2013.

12:25PM Alaska Air and the Transport Workers Union jointly announced tentative agreement on a new 4 year contract for the carrier's 36 dispatchers (ALK) 63.82 1.06 : The proposed contract includes wage increases and provisions to improve quality of life issues, among other changes. Union members will now review the proposed contract and conduct a ratification vote, with results expected in late April.

12:16PM New session highs for stock indices -- Dow +84, S&P +10.3, Nasdaq Comp +20.6 (SPY) : The Russell 200 +8.7 has joined the S&P 400 Mid-Cap at a new multi-year high above its Feb peak.

12:10PM Crude oil moves into positive territory, ticks toward $105; now up 16 cents to $104.95 (COMDX) :

12:09PM S&P 400 MidCap sets new session high of 983.94, edges just above its previous multi-year high from Feb (MDY) : The Russell 2000 is hovering just under a similar level at 838.00 (session high 837.68).

12:01PM Time Warner Tcom announced that data center operator Core NAP has selected it to provide last-mile Ethernet services (TWTC) 19.29 +0.13 :

11:29AM Boeing and GE (GE) Capital Aviation Services finalized an order for 10 777-300ER airplanes; order is worth ~$2.8 billion at list prices (BA) 73.85 +0.23 :

11:24AM Crude approaching flat line; now down 35 cents to $104.44 (COMDX) :

11:17AM Nasdaq 100/Comp again do not confirm new Dow +72 and S&P +7.s session highs (QQQ) : Underperforming technology/semi (SMH -0.5%, SOXX -0.4%, XSD -0.2%, Disk Drive -0.1%) has been a drag on Nasdaq following the positive start to the day. However, short term if the Nasdaq Comp can continue to hold above intraday support at 2768/2765 it will be in position for a run at the opening peak (2773). Minor resistance above is in the 2782/2785 area.

11:00AM Bank of America announced that William Boardman would not seek another term as director (BAC) 13.55 +0.20 :

10:51AM State Street notches a new session high to challenge its 50 ema at 44.77 (STT) 44.79 +0.88 : Last week's recovery high comes into play at 44.99.

10:49AM Crude oil attempting to bounce off of lows; currently lower by 85 cents to $103.95 (COMDX) :

10:48AM Financial Select Sector SPDR testing last week's recovery high of 16.46 (XLF) 16.46 +0.14 : AXP, JPM, TRV, BAC, BK, GS, MS, STT, USB, WFC.

10:45AM Relative Sector Strength (TECHX) : The Nasdaq 100/Comp did not confirm the new session highs alluding to a slowing of opening momentum but the slip off the highs has been limited. In recent trade have seen some relative sector strength in Retail XRT, Housing XHB, Finance XLF, Airline. Technically very short term positive divergence did form for the indices

10:36AM Crude oil extends sell off; now lower by $1.22 to $103.57 (COMDX) :

10:31AM Google agreed to settle FTC charges that it used deceptive tactics and violated its own privacy promises to consumers when it launched its social network, Google Buzz, in 2010 (GOOG) 582.71 +0.98 : The proposed settlement bars the company from future privacy misrepresentations, requires it to implement a comprehensive privacy program, and calls for regular, independent privacy audits for the next 20 years.

10:30AM Following inventory data, crude oil ticks modestly higher; now off 76 cents to $104.03 (OIH) :

10:21AM Insituform Tech awarded contract valued at up to $9.5 million from Orange County, Florida (INSU) 26.13 +0.18 : Co announces that it has been awarded its first stormwater pipeline rehabilitation contract from the Board of County Commissioners, Orange County, Florida (Orange County). The contract's first year value is ~$3.2 million and may be extended for two additional years for up to $9.5 million over the three-year period.

10:17AM Opening Point Gainers/Losers (TECHX) : Point Gainers: CEPH (+16.30), (BLK (+9.37), MA (+9.17), AGQ (+6.31), LNN (+5.86), OXM (+4.95), PCLN (+4.71), VRX (+3.69), AMZN (+3.82), PPG (+3.71)

Point Losers: ACXM (-4.72), AAPL (-2.10), TZOO (-1.59), ALGN (-1.35), GDX (-1.29), GLNG (-1.31), MKC (-1.28), UTA (-1.23), GDOT (-1.15), APKT (-1.07)

10:15AM Relative Sector Weakness (TECHX) : The Nasdaq 100/Comp did not confirm new Dow/S&P highs, which suggests some weakening momentum, with minor downticks off the early peaks noted. Sectors that have underperformed the S&P in recent trade include: Semi SMH, Oil Service OIH, Industrial XLI, Technology XLK, Disk Drive, Solar TAN, Steel SLX, Rail, Copper JJC, Materials XLB.

10:12AM Whirlpool files antidumping and countervailing duty petitions against bottom-mount refrigerators from South Korea and an antidumping petition against the same product from Mexico (WHR) 82.47 +0.93 : "Two Korean manufacturers, Samsung Electronics and LG Electronics, export their production to the United States from manufacturing facilities in both Korea and Mexico. The purpose of these petitions is to establish conditions of fair competition in the U.S. market that will support significant investment and innovation in the production of high-end refrigerators in the United States and the U.S. jobs created by that production. The Whirlpool products affected by this case are made in Amana, Iowa, where Whirlpool employs approximately 2,000 people."

10:09AM Crude extends push lower; now down 75 cents to $104.04; note that inventory data will be released in approx 20 min (COMDX) :

10:08AM Nasdaq Comp +12 and Nasdaq 100 +6.5 have thus far not been able to confirm the new morning highs in the Dow +59 and S&P +6.4 (QQQ) :

10:07AM Volvo to boost production, recall 700 workers at New River Valley, VA, plant (VOLVY) 17.78 +0.38 : Volvo Trucks in North America today announced that in response to increased demand, the company will ramp up production at its New River Valley, VA, plant, and recall approximately 700 employees. Through February 2011, Volvo Trucks increased its combined U.S. and Canadian retail sales volume 47 percent vs. the same period last year. The ramp-up, which includes adding a second shift, and associated recalls will take place in several stages between May 2 and June 13. Current employment at the plant is just under 1,500.

10:01AM ATMI announces a global distribution agreement with Finesse Solutions (ATMI) 18.43 -0.03 : Co announces a global distribution agreement with Finesse Solutions, LLC, of San Jose, CA, a manufacturer of measurement and control solutions for bioprocess applications. The deal gives co the right to sell Finesse T700 control systems with the ATMI single-use Integrity PadReactor system. The combined turnkey system will provide the single-use market with a best-in-class, ready-to-use bioreactor platform.

10:00AM Textron unit announced that it has acquired 51% of Shanghai Endura Tools (TXT) 27.19 +0.20 : Shanghai Endura Tools is provider of hand tools for the home center, construction, industrial manufacturing and automotive channels. Based in Shanghai, China, Endura employs approximately 140 people.

9:59AM Minor new high for S&P +8 and Dow +67, Nasdaq Comp +15 is hovering just under its early high (SPY) :

9:58AM Cisco Systems hovering slightly under its session high of 17.60, its rebound high from last week and the mid-month bear gap top are at 17.64/17.74 (CSCO) 17.57 +0.13 :

9:58AM Sunstone Hotel announces public offering of Series D Cumulative redeemable preferred stock (SHO) 10.18 -0.03 : Co announced that it intends to issue 3,000,000 shares of its Series D Cumulative Redeemable Preferred Stock. The underwriters will be granted a 30-day option to purchase up to an additional 450,000 Series D Preferred Shares to cover over-allotments, if any. The offering is expected to price no later than Friday, April 1, 2011. The joint book-running managers for this offering are J.P. Morgan, BofA Merrill Lynch and Wells Fargo.

9:57AM Russell 2000 tests its 52-wk close high from Feb at 834 -- session high 834 (IWM) : Its 52-wk intraday high from Feb is at 838. The S&P Mid-Cap 400 is also near its 52-wk close high at 982 (session high 981.67) with its 52-wk intraday peak at 983.

9:54AM iShares DJ Telecom continues to provide upside leadership (IYZ) 23.70 +0.20 : T +1.6% and VZ +1.6% are working 6 and 10 day win streaks, respectively, propelling the IYZ to a fresh five week high.

9:51AM News Corp names James Murdoch Deputy Chief Operating Officer and Chairman and CEO, International (NWS) 18.41 +0.12 : Co appoints James Murdoch Deputy Chief Operating Officer and Chairman and CEO, International. In this newly-created role,Murdoch will bring his operational expertise to bear across News Corporation's broad asset portfolio, collaborating with senior leaders to develop and execute strategies and plans that strengthen and further evolve businesses, extend brands, and build new franchises. He will maintain direct responsibility for co's operations in Europe and Asia. Murdoch will relocate to New York, continue to report to co's Deputy Chairman, President and Chief Operating Officer, Chase Carey and work closely with Rupert Murdoch, Chairman and Chief Executive Officer of co.

9:49AM Coca-Cola vacillating near its Dec/Jan/March peaks at 65.88 (KO) 65.87 +0.15 :

9:47AM Crude to its lowest levels of pit trade; now off 52 cents to $104.27 (COMDX) :

9:45AM S&P +6.6 run to/pauses at first level resistance at 1326/1327 -- Dow +51, Nasdaq Comp +13 (SPY) :

9:38AM MasterCard nears its 11 month high from Dec at 259.35 -- session high 259.05 (MA) 258.88 +7.17 : The intraday peak from Dec is at 260.72.

9:38AM Volume alert: Weight Watchers jumps 3 points on increased volume (WTW) 66.75 +3.13 :

9:35AM CEL-SCI Corp receives Israeli government approval to commence Phase III clinical trial of multikine in head and neck cancer (CVM) 0.66 +0.06 : Co announced that the State of Israel's Ministry of Health has given approval to begin enrollment of subjects for a Phase III clinical trial of Multikine in Israel. The Phase III trial will be conducted in approximately 48 clinical centers. CEL-SCI's partner Teva Pharmaceutical (TEVA) will be conducting the trial at three clinical centers in Israel. The Phase III trial started in the United States in late December 2010 and is expected to commence in other countries around the world within the next 30-60 days. Multikine is the Company's flagship immunotherapy developed as a first-line standard of care in treating head and neck cancer.

9:31AM Clorox announces that the EPA approved the registration of DISPATCH Hospital Cleaner Disinfectant Towels with Bleach to kill Clostridium difficile spores in five minutes (CLX) 70.00 +0.32 :

9:27AM Healthstream acquires 50% Stake in Laerdal Medical's Advanced Video System; immediately accretive; raises FY rev guidance (HSTM) 7.68 : Co announces that it has acquired a 50 percent stake in Laerdal Medical's Advanced Video System. The co paid $3.5 mln in cash at closing for its 50% ownership in AVS and used existing cash balances to fund this transaction. Co issues guidance for FY11 (Dec), sees FY11 (Dec) revs of $76.25-78.25 mln, may not be comparable to $76.98 mln Thomson Reuters consensus. Co expects the impact will be immediately accretive.

9:25AM Iridium Communications announces a secondary equity offering of 4,030,855 shares of common stock, at a price to the public of $8.15 per share by a selling stockholder, Syndicated Communications Venture Partners IV, L. (IRDM) 8.72 :

9:21AM Healthstream amends its its line of credit with SunTrust Bank, increasing line of credit to $20.0 mln from $15.0 mln; extends its availability to July 2012. (HSTM) 7.68 : Co comments: "The amendment increases available capital for growth initiatives of the co."

9:21AM Crude oil pulling back from flat line; now down 45 cents to $104.34 (COMDX) :

9:14AM Swisher Hygiene Choice Environmental subsidiary acquires Lawson Sanitation; hygiene and chemical business of Chicagoland Hygiene for total up to $5.5 mln in cash (SWSH) 5.95 :

9:09AM On The Wires (WIRES) :

* Tetra Tech (TTEK) announced that it has been awarded a $15.9 million, four-year contract to support the U.S. Agency for International Development (USAID)/Kosovo's New Opportunities for Agriculture program.
* Onstream Media Corporation (ONSM) announced that SmartSource has signed a MarketPlace365 Master Agent Agreement. Under the terms of the agreement, SmartSource will become a Master Agent, marketing both Onstream's popular MarketPlace365 virtual tradeshow platform as well as the company's complete suite of Internet broadcasting solutions and collaborative conferencing services.
* 3D Systems (TDSC) announced plans to expand its in-house manufacturing activities to include additional personal and professional 3D printer models. In connection with its expansion plans the co also exercised an option to purchase an 11-acre parcel contiguous to its Rock Hill facility.
* Intellectual Ventures announced today that it has entered into a license agreement with Research In Motion (RIMM). The deal provides RIM with access to IV's extensive patent portfolio of more than 30,000 IP assets.
* Synopsys (SNPS) announced that it has worked with TSMC to develop a broad portfolio of DesignWare interface PHY IP including SuperSpeed USB 3.0, USB 2.0, HDMI, PCI Express, DDR and SATA as well as embedded memories for TSMC's 28-nanometer process technology.
* Sonus Networks (SONS) announced that Newtel Essence, a wholly owned subsidiary of KPN, has selected the NBS5200 and GSX9000 as the backbone of its enterprise offering.
* ThermoGenesis (KOOL) said that Nanshan Memorial Medical Institute will be utilizing its AXP AutoXpress and BioArchive Systems used to process and store stem cells from cord blood in its two stem cell banks in China.

9:08AM Acuity Brands misses by $0.05, beats on revs (AYI) 55.86 : Reports Q2 (Feb) earnings of $0.45 per share, $0.05 worse than the Thomson Reuters consensus of $0.50; revenues rose 8.5% year/year to $416.1 mln vs the $410.8 mln consensus. "This was the fourth quarter in a row where we achieved unit volume growth in an environment where U.S. non-residential construction, a key market for us, continued to decline. We estimate that higher material, component, and fuel costs negatively impacted second quarter operating profit by approximately $5 million as compared with the year-ago period... Even with the higher material costs, we increased our operating profit margin by 20 basis points over the prior-year period's adjusted operating profit margin as higher sales volumes, favorable price/mix, and productivity improvements all contributed to the margin improvement."

9:06AM Abbott Labs launches catheter-based MitraClip System in Australia for mitral regurgitation (ABT) 48.38 : The MitraClip device, which has received Therapeutic Goods Administration approval, offers a new treatment option for patients suffering from MR, a debilitating heart valve condition.

9:04AM Interdigital Comm announces pricing of private offering of $200 million of 2.50% senior convertible notes (IDCC) 43.51 : Co announces the pricing of its private offering of $200 million aggregate principal amount of 2.50% Senior Convertible Notes due 2016, which was upsized from the previously announced $150 million offering, to be sold to qualified institutional buyers. The notes will be convertible at an initial conversion rate of 17.3458 shares of InterDigital common stock per $1,000 principal amount of the notes, which is equivalent to an initial conversion price of ~$57.65, which represents a 32.5% conversion premium to the closing sale price of $43.51 per share of InterDigital common stock on the NASDAQ Global Select Market on March 29, 2011.

9:02AM US Gold says drilling continues to expand the size of the silver-gold resource and upgrade the inferred mineralization at the El Gallo Project in Sinaloa State (UXG) 16.79 : Co announces drilling continues to expand the size of the silver-gold resource and upgrade the inferred mineralization at the El Gallo Project in Sinaloa State, Mexico. In addition, drilling has intersected high grade mineralization 400 meters southwest of the El Gallo resource. Also, drilling on the recently discovered Alamo vein has encountered mineralization 150 m south of the previous exploration.

9:00AM Crude oil trades to near unchanged; now off 15 cents to $104.64 (COMDX) :

8:56AM Value Vision Media announces pricing of 8.25 mln shares of public offering of common stock at $6.25 per share (VVTV) 6.86 :

8:35AM On The Wires (WIRES) :

* Calix (CALX) announced that Broadband Stimulus award winner Southwest Minnesota Broadband Services has selected the EXA Powered Calix E7 Ethernet Service Access Platform and 700GE family of optical network terminals to bring advanced broadband services to eight rural communities across southwest Minnesota.
* Washington Post's (WPO) Kaplan EduNeering and AdvaMed announced the extension and expansion of their partnership through 2014. Since 2008, AdvaMed and Kaplan EduNeering have worked together to develop online compliance management and training programs for medical technology professionals. As the global regulatory climate grows in complexity and FDA increases its enforcement of safety standards, the need for training medical technology professionals escalates.
* BG Medicine (BGMD) announced that it has entered into a research collaboration agreement with Boston Scientific Corporation (BSX) to study the role of galectin-3 as an aid in patient screening for cardiac-resynchronization therapy using patient data from the MADIT-CRT study.
* ArvinMeritor (ARM) has officially changed its name to Meritor, Inc. As a result, Meritor's ticker symbol on the New York Stock Exchange is MTOR (MTOR), effective at the start of trading today.
* O2Micro International Limited (OIIM) was issued 21 claims under United States patent number 7,898,218 for its Power Supply Topology.
* China Architectural Engineering (CCGM) announced that it has changed the Company's corporate name from China Architectural Engineering, Inc. to China CGame, Inc. to better reflect the Company's focus on providing MMORPG in China. The Company's stock ticker symbol on the NASDAQ Select Global Market changed from "CAEI" to "CCGM" and the CUSIP number for the Company's common stock has been changed to 16946P 107.

8:32AM Cynosure presents 2 positive studies involving Its Cellulaze Workstation for Treatment of Cellulite (CYNO) 13.35 : Co announces the presentation of two new studies involving its Cellulaze workstation, the world's first minimally invasive surgical device designed to reduce cellulite appearance by restoring the normal structure of the skin and underlying connective tissue. The first study indicated that there are considerable potential benefits from the use of subcutaneous laser energy in addressing cellulite. The second concluded that a sidelight three-dimensional optical fiber and 1440 nm NdYAG laser appear "to have long-lasting benefits in the treatment of cellulite." The results of the 15 person study were that 68% of subjects showed significant improvement in cellulite by photographic evaluation and 65% with Vectra 3D surface imaging. Patient and physician evaluations also revealed good to excellent results in 76% and 69% of cases, respectively. "The results of our study demonstrate that a minimally invasive surgical approach to cellulite can be effective."

8:31AM Dana Holding names Roger Wood its new Chief Executive (DAN) 17.22 : Co announces the appointment of a new chief executive officer and president, Roger Wood, effective April 18. John Devine, Dana's executive chairman, who also has been serving as interim CEO, announced he has elected to retire on June 30, 2011. At that time, Keith Wandell, lead independent director of Dana's board, will become non-executive chairman of the board. In addition, Wood will be a member of Dana's Board of Directors.

8:16AM Hercules Tech capital receives commitment to renew $300.0 mln accordion credit facility and receives initial $100.0 mln in commitments (HTGC) 10.92 : Co announces it has received a commitment to renew its $300.0 mln accordion credit facility and has received initial commitments of $100.0 mln through Wells Fargo Capital Finance (WFC) and the RBC Capital Markets. This new arrangement replaces a previous $300.0 mln accordion WFC credit facility, under which WFC had initially committed $50.0 mln in capital, and is subject to customary closing conditions and the completion of appropriate documentation.

8:13AM On The Wires (WIRES) :

* BioSante Pharmaceuticals (BPAX) announced that enrollment of subjects in the second of two pivotal Phase III LibiGel safety and efficacy trials has been completed. Enrollment in the first LibiGel efficacy trial was completed in February.
* Hollysys Automation (HOLI) announced that its proprietary large-scale industrial Distributed Control System successfully completed 168 hours continuous trail operation and went into commercial operation for 1GW ultra-supercritical thermal power generating unit in Guohua Taishan Thermal Power Plant.
* Sierra Wireless (SWIR) announced that Fujitsu has selected Sierra Wireless to provide 3G mobile broadband for several new models in its LIFEBOOK series of notebooks and tablets.
* MicroStrategy Incorporated (MSTR) announced that Groupon has selected MicroStrategy for enhanced insights into customer behavior and purchasing data.
* Medivation (MDVN) and Astellas Pharma announced treatment of the first patient in the TERRAIN study, a Phase 2 comparison of the investigational drug MDV3100, a triple-acting oral androgen receptor antagonist, with bicalutamide, a commonly used anti-androgen, in the treatment of advanced prostate cancer patients who have progressed while on LHRH analogue therapy or following surgical castration. \
* Jack Henry (JKHY) announced the availability of My NetTeller, its solution that enables accountholders to create customized dashboard-style landing pages of their most commonly used online banking functions.

8:13AM NIC Inc announces that Mississippi becomes the latest state to contract with the company for self-funded online government services (EGOV) 12.04 : Agreements were recently finalized securing the primary funding source for the contract. This concludes the process that began with a competitive bid through which the State of Mississippi awarded NIC a five-year contract that will run through December 2015.

8:12AM Molycorp and DOE's Ames Laboratory sign cooperative research and development agreement on rare earth magnets (MCP) 59.65 : Co announced that it has entered into a cooperative research and development agreement with the U.S. Department of Energy's Ames Laboratory. The Molycorp-Ames effort will focus on developing new methods to create commercial-grade rare earth permanent magnets. The collaboration combines Ames Laboratory's 60+ years of experience in the critical materials science field with Molycorp's 58+ years of experience in developing and commercializing innovative rare earth processing technologies.

8:11AM PPG Industries sees Q1 EPS of $1.30-1.35 vs $1.12 Thomson Reuters consensus (PPG) 90.59 : Co sees Q1 EPS of $1.30-1.35 vs $1.12 Thomson Reuters consensus. "Our aggressive cost focus, coupled with continued recovery in global industrial activity levels and slightly higher than anticipated European volumes, has resulted in higher year-over-year earnings and comparable margins in our combined coatings and Optical and Specialty Materials segments... In addition, our commodity chemicals and fiber glass businesses are benefiting from higher pricing and stronger end-use market demand, and earnings have recovered substantially versus the prior year, which was still heavily impacted by the recession." Bunch said that the company expects many of these trends to continue in the second quarter. He added that, despite the strong earnings performance, several businesses have not fully offset inflationary pressures, and that the company is aggressively pursuing higher selling prices, including nontraditional pricing actions, in these businesses.

8:09AM Gerber Scientific says committed to financial performance target of 8%+ annual sales growth and double-digit operating margins by fiscal 2013 (GRB) 9.15 : Co reported that John Hancock, President of Gerber Technology, will be leaving the company, effective April 30, 2011. Marc Giles, Gerber Scientific President and CEO will assume leadership responsibilities for the Gerber Technology business segment. "We are continuing to focus on further optimizing our business portfolio and operating model while reducing our cost structure and accelerating new product development. We are also committed to achieving our financial performance target of 8+% annual sales growth and double-digit operating margins by fiscal 2013."

8:07AM Dell, Equinix (EQIX) and Rackspace Hosting (RAX) have collaborated to develop an OpenStack cloud demonstration and test environment (DELL) 14.77 : Cos also plan to collaborate on additional demo environments in Equinix data centers in Europe and Asia in the second quarter of 2011.

8:07AM Xenith prices 4 mln share of common stock at $4.25 per share (XBKS) 4.30 : Co announced the pricing on March 29, 2011 of a public offering of 4,000,000 shares of its common stock (4,600,000 shares if the option granted by the company to the underwriters to cover over-allotments, if any, is fully exercised) at a public offering price of $4.25 per share. Sandler O'Neill + Partners, L.P. is the sole book-running manager and Stifel, Nicolaus & Company, Incorporated is the co-lead manager for the offering.

8:05AM Power-One secures $150 mln in revolver financing led by Bank of America Merrill Lynch (PWER) 8.69 : Co intends to use revolver for general corporate purposes, including expansion of design, production, service and sales of its renewable energy inverters in the North American and Asian markets.

8:05AM MSC Industrial announces that Jeffrey Kaczka will succeed Charles Boehlke as EVP and CFO, effective April 8, 2011 due to retirement (MSM) 66.72 : Co announces that Jeffrey Kaczka will succeed Charles Boehlke as Executive Vice President and Chief Financial Officer, effective April 8, 2011. Boehlke will retire as Chief Financial Officer and a Director of the Company and will continue with the Company as a Senior Advisor to ensure a smooth transition process. Kaczka has over 25 years of experience in financial management in both public and private companies. Most recently, from 2008 to 2009, Kaczka served as Chief Financial Officer, International, of Genworth Financial, Inc. (GNW).

8:02AM Mentor Graphics announces pricing of private placement of 4.00% convertible subordinated debentures due 2031 (MENT) 14.67 : Co announced that on March 29, 2011 the company priced a private placement of $220 mln aggregate principal amount of its 4.00% Convertible Subordinated Debentures due 2031 to be issued to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended. The company intends to use the net proceeds of approximately $212.9 mln from the sale of the debentures to repurchase up to $25.0 mln of its outstanding common stock, to repay outstanding amounts owing under its $18.5 mln aggregate principal amount term loan due 2013 and, along with available cash on hand, to retire, through repurchases or redemption, the outstanding principal and interest on the company's 6.25% Convertible Subordinated Debentures due 2026.

8:02AM Lindsay Corp beats by $0.18, beats on revs (LNN) 76.13 : Reports Q2 (Feb) earnings of $0.89 per share, $0.18 better than the Thomson Reuters consensus of $0.71; revenues rose 41.1% year/year to $120.2 mln vs the $109.8 mln consensus. "Conditions in the global agriculture markets point to continued strong demand for irrigation equipment. Commodity prices have improved significantly from the previous year and the USDA projects 2011 net farm income for the U.S. to be the highest on record and 20% higher than 2010. Order flow continues to be strong during the primary irrigation selling season... Our infrastructure segment results improved significantly over the prior year on higher QMB sales and improvements in the rail and contract manufacturing businesses. The outlook for infrastructure spending remains unclear with uncertain timing on a multi-year U.S. highway bill and significant government budget constraints in Europe... For our business overall, the global, long-term drivers of water use efficiency, population growth, increasing importance of biofuels, and improvements in infrastructure safety and security remain positive."

8:01AM UniFirst reports EPS in-line, beats on revs (UNF) 54.90 : Reports Q2 (Feb) earnings of $0.82 per share, in-line with the Thomson Reuters consensus of $0.82; revenues rose 9.9% year/year to $278.6 mln vs the $263.6 mln consensus. "We are pleased with the Company's overall results for the second quarter, and are particularly encouraged by the strong revenue performance of all our segments. The revenue gain for the core laundry operations was largely the result of improved sales representative productivity, stabilizing wearer levels and solid customer retention rates."

7:45AM Biovest announces viral vaccine research collaboration to advance strategy to support department of defense bio-manufacturing initiatives (BVTI) 0.61 : Co entered into a research collaboration agreement with Ordway Research Institute. Biovest and Ordway will jointly conduct manufacturing studies using Biovest's proprietary hollow fiber bioreactor systems, including the AutovaxID system, in viral growth studies for the purpose of establishing further data confirming the efficiency of Biovest's instruments for the production of a variety of potent virus-fighting products such as vaccines and virus-like particles.

7:43AM On The Wires (WIRES) :

* MAX (IMAX) and PVR Cinemas announced an agreement to install digital IMAX theatre systems in four key locations throughout India.
* Tyler Technologies (TYL) has signed contracts with Orange County, Texas, and the Texas cities of Greenville and Georgetown for co's Incode local government software solution. The agreements include software licenses, maintenance, support and related professional services.
* TradeStation (TRAD) announced the opening of a new TradeStation data center within Equinix's New York facilities.

7:33AM Flagstone Reinsurance provides estimate for losses from Japan earthquake and tsunami; expected to be between $80-130 mln net of reinstatement premiums and retrocession (FSR) 8.79 : The co's estimated loss is based on an estimated industry loss of between $25-35 bln.

7:31AM Bottomline Tech acquires Allegient Systems, a provider of advanced capabilities for legal e-billing, bill review and analytics, for $48 mln in cash (EPAY) 23.93 :

7:17AM On The Wires (WIRES) :

* Universal Travel Group (UTA) announced that it has postponed its year 2010 earnings conference call previously scheduled for March 30, 2011 at 09:00 a.m. EDT to a later day in 2011 to be determined.
* CNOOC Limited (CEO) announced that the Company and Tullow Oil plc entered into Sale and Purchase Agreements on March 29th for the acquisition of Tullow's one third interest in Exploration Areas 1, 2 and 3A in Uganda. Total consideration of the transaction is ~US$1.467 billion in cash, subject to closing adjustments.
* BioClinica (BIOC) signed a technology agreement with Millennium: The Takeda Oncology Company, a leading biopharmaceutical company. This agreement makes Millennium the first customer for BioClinica's new Enterprise Demand Aggregator product offering. As part of the agreement BioClinica and Millennium will work in partnership to speed the release of the product which will advance Millennium's clinical trial supply planning across all their global clinical trials.
* Columbia Laboratories (CBRX) announced that the co expects results from the PREGNANT Study, a Phase III clinical trial evaluating PROCHIEVE, will be published in a respected peer-reviewed medical journal online next week, and in the journal's print edition thereafter
* Pharmasset (VRUS) announced that screening has begun in a Phase 2b study of PSI-7977, a nucleotide analog polymerase inhibitor for the treatment of chronic hepatitis C. The trial will evaluate PSI-7977 400mg QD with pegylated interferon and ribavirin in patients with HCV genotype 1, 4, 5 or 6 who have not been treated previously.

7:06AM Amgen reports Top-Line Results of Pivotal Phase 3 Motesanib Trial in Advanced Non-Squamous Non-Small Cell Lung Cancer Patients; trial did not meet its primary objective of demonstrating an improvement in overall survival (AMGN) 53.43 : Co, Millennium: The Takeda Oncology Company, and Takeda Pharmaceutical Company Limited day announce top-line results from the MONET1 pivotal Phase 3 trial evaluating motesanib administered in combination with paclitaxel and carboplatin in 1,090 patients with advanced non-squamous non-small cell lung cancer (NSCLC). The trial did not meet its primary objective of demonstrating an improvement in overall survival.

7:02AM ICF International awarded $36.5 mln ENERGY STAR contract over 5 years (ICFI) 20.42 :

7:02AM Oppenheimer Holdings proposed $200 mln Senior Secured Notes offering due 2018 (OPY) 32.40 : Co intends to use the net proceeds from the offering of the Notes to refinance (i) $22.5 million outstanding as of December 31, 2010 under its Secured Credit Note and (ii) all amounts outstanding under its $100.0 million Subordinated Note.

6:59AM Biodel announces appointment of Dr. Brian J.G. Pereira as Board Chairman; Dr. Charles A. Sanders to remain on Board (BIOD) 2.11 : Co announced the appointment of Dr. Brian J.G. Pereira as board chairman effective immediately. Pereira has served on the board since November 2007. Charles A. Sanders, who served as chairman since March 2010 after joining the board in August 2006, will continue to serve as a board member pending his return from medical leave.

6:53AM Insignia Sys announced last night supplements special dividend information (ISIG) 6.76 : Co announced on February 23, 2011 that its Board had approved payment to the shareholders of a special dividend of $2.00 per share, to shareholders of record on April 1, 2011, with the payment date to be May 2, 2011. Pursuant to NASDAQ rules, the ex-dividend date is May 3, 2011. All persons who own the stock on May 2, 2011, will receive the $2.00 special dividend regardless of whether or not they held the stock on the record date (April 1, 2011). The reason for this is the special rules applicable to dividends that are more than 25% of the market price of the stock. The only importance of the April 1, 2011, record date is that if the Company were to issue additional shares after April 1st, the additional shares would not be eligible for the special dividend. However, the Company has determined not to issue any additional shares, including pursuant to stock options after April 1, 2011. For this reason, all outstanding shares will be eligible for the special dividend and it will be paid to the shareholders who own the stock on May 2, 2011. The Company expects that the stock will continue normal trading between April 1 and May 2, 2011.

6:50AM PMI Group responded last night to government's proposed definition of qualified residential mortgage (PMI) 2.89 : "While we are disappointed that the regulators chose a very narrow and restrictive definition of QRM, we are encouraged that they are seeking comment on an alternative QRM definition that would involve a 10 percent down payment and more reliance on private mortgage insurance. Additionally, we believe that prudentially underwritten mortgages with less than a 10 percent down payment and private mortgage insurance should also be included in the definition."

6:24AM On The Wires (WIRES) :

* Acacia Research Corporation (ACTG) announced that its AdjustaCam LLC subsidiary has entered into a settlement and license agreement with KYE International Corporation, KYE Systems America Corporation, KYE Systems Corporation, and jWIN Electronics Corp. The settlement agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.
* MIND C.T.I. (MNDO) announced it has been chosen by Pelephone Communications to provide MIND's billing solution for MVNOs.
* Glu Mobile (GLUU) announced the implementation of In-app purchases into several of Glu's leading games on the Android platform.
* Epocrates (EPOC) announced its mobile and web-based electronic health record solution has entered beta and is now being tested by solo and small group physician offices across the country. The co also announced an agreement with Nuance Communications (NUAN) to leverage the Nuance Healthcare Development Platform to integrate Nuance's cloud-based, medical speech recognition technology as a component of its Epocrates EHR solution.

6:18AM Fifth Street Finance unit locks $65.3 mln of borrowings at an interest rate of 4.084% per annum for 10 years (FSC) 13.45 :

6:09AM Achillion Pharma reports positive RVR Results with ACH-1625 to treat chronic Hepatitis C (ACHN) 7.05 : Co announces top-line results from its on-going Phase 2a clinical trial of ACH-1625 dosed once daily in combination with Pegasys and Copegus, a current standard of care in patients with chronic hepatitis C infection. The analysis demonstrated that 75-81% of patients receiving ACH-1625 achieved rapid virologic response with a promising safety and tolerability profile. ACH-1625 is an inhibitor of HCV NS3 protease that was discovered by and is being developed by co. All patients receiving 4 weeks of treatment with ACH-1625 demonstrated continuous and substantial declines in HCV RNA with no viral breakthrough during therapy at any of the doses. The preliminary safety profile of ACH-1625 continues to support future plans to combine this protease inhibitor with other directly acting antiviral agents. Co expects to initiate during 2012 a clinical trial evaluating ACH-1625 in combination with ACH-2928, an internally discovered and developed NS5A inhibitor.

6:07AM Greenbrier Comp proposes offering of $200 mln in Convertible Senior Notes due 2018; announces cash tender offer and related consent solicitation for its 8 3/8% Senior Notes due 2015; (GBX) 28.20 : Co announces that it has commenced a cash tender offer for any and all of its outstanding 8 3/8% Senior Notes due 2015. Additionally, co announced it intends to offer $200 million aggregate principal amount of Convertible Senior Notes due 2018. Co intends to use the net proceeds from the offering, together with additional cash on hand, to purchase any and all of co's outstanding $235 mln aggregate principal amount of its 8 3/8% senior notes due 2015 mentioned above; to pay the consent and other fees in connection with such cash tender offer and consent solicitation and to redeem or otherwise retire any and all 2015 Notes that remain outstanding following consummation of the cash tender offer.

6:05AM Alexion Pharma approves 2 for 1 stock split as of the close of business on May 2, 2011 (ALXN) 97.14 :

3:43AM Cellcom Israel releases results of its debenture offering in Israel; total consideration to be received by the co is ~NIS 1.041 bln (CEL) 32.80 : Co announces that the public tenders for its series D and series E debentures have been concluded. The public tenders follow the institutional investor tenders in which the Company received offers for ~NIS 1.8 bln total consideration and elected to accept commitments for only a portion of these commitments. The final pricing information relating to the public offering is as follows: NIS294,347,000 principal amount of Series D debentures at the price of NIS 1,300.5 per unit; NIS632,295,000 principal amount of Series E debentures at the price of NIS 1,040.5 per unit. The total consideration to be received by the co is ~NIS 1.041 bln.

2:55AM DuPont extends Danisco (DNSCY) tender offer period 4 weeks to April 29 to accommodate ongoing regulatory reviews (DD) 54.59 :

2:32AM On The Wires (WIRES) :

* AirAsia and Expedia (EXPE) announced the launch of a new joint venture company covering Asia Pacific and offering a complete range of great value flights, hotels, and holiday packages.
* Samson Oil & Gas (SSN) provided a progress report on the Rodney #1-14 well in which co has a 26.3% working interest Since the co's last report, the 16th and final stage of the stimulation was pumped, for a total of 1.7 mln pounds of proppant placed in the well. Flow back operations commenced on March 23rd.
* ExxonMobil (XOM) Chemical opened its Shanghai Technology Center in Shanghai's Zizhu Science-Based Industrial Park. The $90 mln facility represents a critical link for development of new premium products which can be manufactured or distributed globally.
* IMAX (IMAX) reported strong opening weekend results of Sucker Punch: The IMAX Experience. Co states it contributed ~$4.0 mln in gross box office receipts to the film's overall domestic opening weekend box office of $19 mln.
* NIC (EGOV) announced that Mississippi becomes the latest state to contract with the co for self-funded online government services.
* Verizon (VZ) announced plans to deploy 100G technology on selected segments of its U.S. backbone network by the end of the second quarter of 2011, bringing customers the benefit of greatly increased speed and performance for everything from cloud-based enterprise applications to video streaming.
* QIC announced that it has entered into an investment operations outsourcing agreement with Northern Trust (NTRS), while retaining incumbent custodian NAB Asset Servicing for back office services. QIC is one of Australia's largest institutional fund managers with $55.9 bln under management as of 31st December 2010.
* Accenture (ACN) announced it will enable postal agencies worldwide to offer digital mail, a digital version of printed mail securely delivered to an online mailbox, to their customers to recapture lost revenue from a steady decline in mail volumes and to compete against a growing number of independent operators currently offering digital mail direct to consumers.

2:01AM CEMEX S.A. prices $800 mln in floating rate notes due 2015 (CX) 8.91 : Co intends to use the net proceeds from the offering to prepay principal outstanding under its Financing Agreement completed on August 14, 2009.

1:58AM Time Warner prices $2 bln senior notes (TWX) 34.97 : Co announces that it has priced a $1 bln underwritten public offering of 4.75% senior notes due 2021 at a price equal to 98.943% of their face amount and a $1 bln underwritten public offering of 6.25% debentures due 2041 at a price equal to 98.707% of their face amount. The net proceeds from the issuance of the notes and debentures will be used for general corporate purposes.

1:55AM Mentor Graphics: Icahn urges co to consider his lending of $220 mln 6.25% senior notes in lieu of issuing dilutive securities (MENT) 14.67 : "To preempt your proposed dilutive convertible debt offering, which may act to derail an acquisition proposal, we would be willing to lend the co $220 mln on a senior unsecured basis, at a rate of 6.25%, for a period of two and a half years...We would agree to serve as a stalking horse without fees to allow the co to seek better terms in the market. Based upon your earnings guidance of $1.00 per share for your next fiscal year, we fail to see why the co would not be able to retire this debt with earnings generated during that timeframe, thereby leaving the Company debt free. It is not too late for this Board to change its mind and there is no urgency, as the existing 6.25% Convertible Notes do not come due until March 1, 2013. We urge you to consider our proposal or superior proposals and not issue unnecessary dilutive securities that may act as a great disservice to shareholders."

1:42AM Intellipharmaceutics Intl provides update on activities related to 30mg generic version of Focalin XR (IPCI) 3.58 : Co has become aware that Elan (ELN) has filed a Complaint against co and Par Pharmaceutical, co's development and commercialization partner for generic Focalin XR, for alleged patent infringement in the US District Court for the District of Delaware, relating to co's generic version of 30mg Focalin XR extended-release capsules. The Complaint has not yet been served upon the Company or upon Par. Co believes there is a reasonable prospect that the litigation relating to the 30mg strength could be settled on terms satisfactory to the co.

1:38AM Cephalon confirms receipt of unsolicited proposal from Valeant Pharmaceuticals (VRX) (CEPH) 58.75 : Co confirms that it received an unsolicited proposal from Valeant Pharmaceuticals (VRX) on March 18th to acquire the co for $73 per share and a second unsolicited proposal on March 25th to either acquire the co for $73 per share or to purchase co's non-oncology related assets for $2.8 bln. On March 29th, VRX announced an unsolicited proposal to acquire all of the outstanding shares in the co for $73 per share.

1:35AM Qihoo 360 Technology prices 12,110,800 ADS IPO at $14.50 per ADS; above the $10.50-12.50 expected range (QIHU) :

1:28AM Emmis Comms amends its credit agreement (EMMS) 1.04 : Among other things, the amendment, provides that an extended maturity date of November, 2014 and pricing on such amended term loans is increased pursuant to a grid under which 7.5% to 12.25% per annum is to be paid in cash and 7.0% to 0.0% per annum is to be paid in kind, subject to a minimum yield of 12.25% per annum. The total amount of Tranche B Term Loans outstanding as of March 29, 2011 is $329 mln, and the amount of such term loans that Canyon is amending into extended term loans is ~$182.9 mln.

1:26AM Interpublic states it is targeting 2014 to reach its operating margin objective of 13% at its Investor Day (IPG) 12.10 :

1:24AM RSC Holdings and RSC Equipment Rental announce exchange offer for 8 1/4% Senior Notes due 2021 (RRR) 14.42 : RSC Equipment Rental and RSC Holdings announce that they commenced an exchange offer pursuant to which they are offering to exchange $650 mln in aggregate principal amount of their 8 1/4% Senior Notes due 2021. The terms of the new notes will be substantially identical to those of the old notes, except that the transfer restrictions and registration rights relating to the old notes will not apply to the new notes.

1:18AM Gametech receives NASDAQ notice relating to its late Form 10-Q (GMTC) 0.33 : Co announces that on March 23, 2011, it received a letter from the NASDAQ Stock Market stating that GameTech did not timely file its Quarterly Report on Form 10 Q for the period ended January 30, 2011, with the SEC. As a result, co is not in compliance with the continued listing requirements. The notification of noncompliance has no immediate effect on the listing or trading of co's common stock on the NASDAQ Global Market.

1:13AM Autobytel reminds stockholders about tax benefit preservation plan in view of recent trading activity in shares (ABTL) 1.44 : Co issues release reminded stockholders about its Tax Benefit Preservation Plan, adopted in May 2010, in view of recent trading activity in the co's common stock. The plan was adopted to protect stockholder value by seeking to preserve the company's substantial net operating loss carryovers and other tax attributes for US federal income tax purposes that can generally be used to offset future taxable income, and therefore, reduce federal income tax obligations. These tax benefits would be substantially limited if the company were to experience an ownership change.

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