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Market Update: 110406
4:30 pm : The major equity averages surrendered early gains to trade flat in early afternoon action, but leadership from the financial sector helped the broader market settle in positive territory.

Early support was helped by gains abroad, where participants in China took yesterday's news of another 25-basis point rate hike in stride upon their return from holiday. News of a successful debt offering by Portugal also helped perpetuate a positive tone. Much later in the day Portugal announced plans to request foreign financial aid.

The generally positive tone to morning trade benefited both blue chips and riskier small-cap stocks. In fact, the Dow extended its two-year high with help from Cisco (CSCO 18.07, +0.85), which scored its best single-session gain in nearly nine months. Meanwhile, the Russell 2000 Small-Cap Index achieved a record high with help from La-Z-Boy (LZB 10.92, +1.08) following an analyst upgrade, but fellow small-cap issue American Superconductor (AMSC 14.47, -10.41) plummeted more than 40% after the company cut guidance and announced that a key customer refused product delivery from the firm.

However, broad market buying interest wasn't strong enough to take the S&P 500 back through resistance at the 1340 line. That left stocks to drift lower before securing support near the neutral line.

Financials proved pivotal in lifting the broader market up from the flat line in afternoon trade. The sector achieved a 1.1% gain. NYSE Euronext (NYX 39.81, +0.83) was a top performer in the sector after it was reported that the firm has no interest a counter bid for Nasdaq OMX Group (NDAQ 28.83, +0.83), but gains among diversified financial plays had the most impact, due to their collective weight.

Even amid leadership from the highly influential financial sector, the overall market still achieved only a modest gain for the session. As a result, action this week continues to be largely range bound.

Despite the broader market's drift, Treasuries continue to come under pressure. In turn, the yield on the benchmark 10-year Note is nearly at a one-month high of 3.55%.

Advancing Sectors: Financials (+1.1%), Utilities (+0.8%), Tech (+0.7%), Consumer Staples (+0.4%), Health Care (+0.2%), Industrials (+0.2%)
Declining Sectors: Consumer Discretionary (-0.2%), Telecom (-0.6%), Materials (-0.8%), Energy (-0.9%)DJ30 +32.85 NASDAQ +8.63 NQ100 +0.2% R2K +0.1% SP400 +0.0% SP500 +2.91 NASDAQ Adv/Vol/Dec 1520/2.00 bln/1094 NYSE Adv/Vol/Dec 1690/884 mln/1270

3:30 pm : Industrials (+1.3%) helped the CRB Commodity Index post gains today despite the fact that four of the six sectors posted losses on the session. Livestock (-1.5%) was the largest decliner.

Precious metals added 0.8% in session that saw gold trade to a new all-time high at $1467.40 per ounce, and silver trade to yet another 31 yr high at $39.785. Weakness in the dollar and the flight to safety pushed the metals higher today. June gold ended up 0.8% to $1436.90 per ounce, while silver closed higher by 0.7% to $37.85 per ounce.

This morning's inventory data sent May crude oil, which settled higher by 0.5% to $108.83, lower throughout the morning. It was able to rebound off its intraday lows to finish the day in positive territory. May natural gas ended lower by 1.9% to $4.15 per MMBtu, marking its fourth consecutive selloff. DJ30 +34.89 NASDAQ +8.10 SP500 +2.85 NASDAQ Adv/Vol/Dec 1499/1.6 bln/1092 NYSE Adv/Vol/Dec 1639/582.7 mln/1293

3:00 pm : Financials continue to drive the stock market's move up from the flat line. Although the financial sector is now up 1.0%, the broad market is only up slightly.

Stocks may be gaining upward momentum, but participation remains unimpressive. As such, only a little more than a half billion shares have exchanged hands this session and only an hour remains in today's trade. DJ30 +33.45 NASDAQ +9.96 SP500 +3.25 NASDAQ Adv/Vol/Dec 1517/1.50 bln/1067 NYSE Adv/Vol/Dec 1668/532 mln/1259

2:30 pm : The stock market has started to lift up from its recent trading range. The effort has taken the S&P 500 to a modest gain and its highest level since this morning.

Financials have been a key source of leadership, although the sector struggled to attract followers around midday. The financial sector is now up 0.7%, which puts it at its best level of the day. Banks are among the best plays in the financial space. As such, the SPDR KBW Bank ETF (KBE 26.31, +0.28) is up in excess of 1%. DJ30 +18.05 NASDAQ +6.05 SP500 +0.88 NASDAQ Adv/Vol/Dec 1478/1.38 bln/1095 NYSE Adv/Vol/Dec 1644/484 mln/1261

2:00 pm : Small-cap stocks have slipped to a 0.2% loss, as measured by the Russell 2000. The Russell 2000 actually set a record intraday high in the early going.

Among the Russell 2000's sharpest movers, La-Z-Boy (LZB 10.78, +0.94) is a top performer following an analyst upgrade. American Superconductor (AMSC 14.63, -10.25) is the worst performer in the space after the company slashed its guidance and announced that a customer that has historically accounted for about three-quarters of business refused delivery of goods from AMSC. DJ30 +25.92 NASDAQ +4.76 SP500 +1.39 NASDAQ Adv/Vol/Dec 1365/1.29 bln/1200 NYSE Adv/Vol/Dec 1552/445 mln/1333

1:30 pm : The broader market continues to hover near the neutral line. Despite its inability to sustain a gain, Treasuries remain mired in the red with a modest loss. Pressure against Treasuries continues to keep the yield on the benchmark 10-year Note above 3.50%. Meanwhile, the yield on the 2-year Note is largely unchanged at 0.82%.DJ30 +25.47 NASDAQ +2.30 SP500 +0.69 NASDAQ Adv/Vol/Dec 1312/1.19 bln/1245 NYSE Adv/Vol/Dec 1519/411 mln/1375

1:00 pm : Varied gains abroad helped bring about an early bid for stocks, but dwindling support has left stocks to slide back to the neutral line.

News of a successful debt offering by Portugal helped lift Europe's major bourses. Asia's major averages were led by a 1.1% spike in the Shanghai Composite, although Japan's Nikkei suffered a modest loss. General strength among the overseas averages added a positive backdrop to premarket trade that had not been seen in this week's first two sessions, but there haven't been many other catalysts for participants to track.

Early buying was broad based, but tech provided the most leadership in the first hour of trade. Even though the sector has since been backed down so that it trades with a 0.4% gain, names like Cisco (CSCO 17.97, +0.75) continue to offer support. Tech stocks also attempted to provide leadership in the prior session before it succumbed to selling pressure and then logged a narrow loss.

Financials and utilities have been holding on to steady gains, however. Both sectors are just off of session highs as they sport gains of 0.6% and 0.7%, respectively. Still, that hasn't made much of a difference to the broader market that has been unable to attract any sustainable buying interest in the absence of any meaningful headlines -- economic or corporate.

The stock market's struggle to extend last week's gains combined with a steady bid near the neutral line has left stocks to spend the past few sessions stuck in a tight trading range. DJ30 +21.72 NASDAQ -1.24 SP500 -0.35 NASDAQ Adv/Vol/Dec 1317/1.10 bln/1233 NYSE Adv/Vol/Dec 1541/375 mln/1330

12:30 pm : Both the S&P 500 and the Nasdaq Composite have stabilized at the flat line after a recent dip into negative territory. Meanwhile, the Dow continues to cling to a narrow gain. Blue chips continue to be led by Cisco (CSCO 17.92, +0.70). Hewlett-Packard (HPQ 41.14, +0.85) has also provided support.

Outside of the most widely tracked averages, the Dow Jones Transportation Average is currently down 0.4%, but the Dow Jones Utility Average is up 0.6%. Meanwhile, both the S&P 100 and S&P 600 are up 0.1%. DJ30 +21.50 NASDAQ +1.08 SP500 +0.16 NASDAQ Adv/Vol/Dec 1324/1.00 bln/1206 NYSE Adv/Vol/Dec 1552/340 mln/1295

12:00 pm : Stocks have been grinding lower in recent trade. Pressure has taken pause now that the S&P 500 and Nasdaq Composite are at the neutral line. Still, that makes for fresh session lows.

Financials continue to do a good job of providing support to the broad market, but the sector is no longer a top performer no that it trades with a 0.4% gain. The title now belongs to the utilities sector, which is up 0.7% as the likes of Constellation Energy (CEG 31.61, +0.33) and Exelon (EXC 41.10, +0.33) preserve their gains.

Telecom continues to represent the worst performing sector; it is now down 0.8%, but that is actually up from its session low. After surrendering an early gain, energy isn't in much better shape. That sector now trades with a 0.7% loss. DJ30 +7.80 NASDAQ -2.04 SP500 -0.91 NASDAQ Adv/Vol/Dec 1305/875 mln/1193 NYSE Adv/Vol/Dec 1523/300 mln/1318

11:30 am : Recent selling pressure took both the S&P 500 and the Nasdaq Composite back toward the neutral line, but they have started to retrace the move.

Tech had been a key source of leadership in recent trade, but the sector has since slipped a bit. It still trades with a 0.4% gain, though. Financials are now providing primary support. As a group, financials are up 0.6%. Investment banking issues and specialty finance names have been particularly strong players. DJ30 +30.73 NASDAQ +6.12 SP500 +1.66 NASDAQ Adv/Vol/Dec 1341/743 mln/1119 NYSE Adv/Vol/Dec 1569/250 mln/1234

11:00 am : Cisco Systems (CSCO 18.02, +0.80) is among this session's top performers by percent gained. The stock's surge of more than 4% takes shares back to the $18 line after they had been stuck near 52-week lows just beneath $17 per share earlier this week.

Strength among other large-cap tech stocks has helped prop up the tech sector, which currently sports a 0.9% gain. That makes for a strong follow-up to the prior session's fractional finish, which came after the sector had surrendered decent midday gains. DJ30 +45.90 NASDAQ +15.98 SP500 +4.29 NASDAQ Adv/Vol/Dec 1592/566 mln/841 NYSE Adv/Vol/Dec 1878/192 mln/887

10:35 am : Oil prices are up just 0.2% at $108.56 per barrel in the wake of the latest weekly inventory data, which showed a 1.95 million barrel build when 2.0 million barrel build had been broadly expected. Earlier this morning oil prices had shaken free from selling pressure to hit $109.15 per barrel, which is oil's highest price in more than two years.

Renewed buying interest among precious metals took gold prices to a new record high of $1462.10 per ounce and silver prices to a new 30-year high of $39.71 per ounce. Silver continues to trade at that point, but gold has eased lower so that it trades with a 0.6% gain at $1461.50 per ounce.

Cotton futures prices climbed $0.07, or 3.6%, in the exchange limit to almost $2.01 per pound. The move comes amid news that unfavorable weather might delay Australia's cotton harvest.

Natural gas has failed to share in the strength of the other commodities. Instead, it is down 0.5% at $4.21 per MMBtu. DJ30 +51.77 NASDAQ +18.32 SP500 +5.13 NASDAQ Adv/Vol/Dec 1491/398 mln/890 NYSE Adv/Vol/Dec 1769/148 mln/951

10:00 am : Stocks have started to pull back a bit. The slip comes after the S&P 500 came within a point of the 1340 line.

While equities are giving back some of their early gains, oil prices have spiked to new two-year highs. The energy component was recently quoted at $109.15 per barrel.

Advancing Sectors: Tech (+0.8%), Energy (+0.5%), Health Care (+0.5%), FInancials (+0.3%), Industrials (+0.3%), Utilities (+0.3%), Consumer Staples (+0.3%), Consumer Discretionary (+0.3%), Materials (+0.2%)
Declinging Sectors: Telecom (-0.8%)DJ30 +33.54 NASDAQ +19.72 SP500 +4.71 NASDAQ Adv/Vol/Dec 1590/173 mln/633 NYSE Adv/Vol/Dec 2072/86 mln/585

09:45 am : Stocks are up with solid gains in the first few minutes of trade. The bid has been broad based, but once again telecom stocks (-0.6%) are under pressure after they had outperformed last week.

Strength among stocks has induced further selling among Treasuries. In turn, the yield on the benchmark 10-year Note is back above 3.50% for the first time in a few weeks. DJ30 +44.96 NASDAQ +22.72 SP500 +6.51 NASDAQ Adv/Vol/Dec 1491/39 mln/482 NYSE Adv/Vol/Dec 1743/38 mln/404

09:15 am : S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +14.40. Aside from an upside earnings surprise and a reaffirmed forecast from Monsanto (MON) and downside guidance from American Superconductor (AMSC), it has been a slow news morning, but strength among several major overseas markets has helped provide a positive backdrop to premarket trade. That's been enough to lift stock futures so that a slightly higher start to trade appears to be in order. Commodities are also up this morning. In fact, gold hit a new record high and silver set a new 30-year high. Oil prices are up with only fractional gains ahead of the latest weekly inventory report. There are no economic items of consequence on the agenda, but Atlanta Fed President Lockhart is scheduled to issue comments at noon ET.

09:05 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.20. Commodities have benefited from varied degrees of buying interest this morning. Oil prices have overcome early pressure to trade with a fractional gain at $108.45 per barrel in the first few minutes of pit trade. Gold prices are up 0.5% to $1459.40 per ounce after they set a new record of $1462.10 per ounce. Silver prices are up 1.0% to $39.55 per ounce after they had set a new 30-year high at $39.71 per ounce.

08:35 am : S&P futures vs fair value: +5.80. Nasdaq futures vs fair value: +15.00. A successful debt offering from Portugal has helped Europe's major bourses put together some solid gains. Germany's DAX is now up 0.7%. Commerzbank is in play after the company announced plays to repay roughly $20 billion of financial aid that it had received from authorities. In France, the CAC is up a tame 0.2%. Financial outfits BNP Paribas and Societe Generale are primary leaders there, but Electricite de France has dragged along with a sizable loss after French authorities announced a lock on natural gas prices. Britain's FTSE is up 0.8% at the moment. Industrial production in the United Kingdom during February reportedly fell 1.2% after it increased by a downwardly revised 0.3% in the prior month. In broader economic news, the final reading for eurozone fourth quarter GDP showed 0.3% growth, which is unchanged from the preliminary reading.

In Asia, China's Shanghai Composite climbed 1.1% upon its return from holiday. Participants there shrugged off yesterday's news of another 25 basis point increase to one-year lending and borrowing rates by the People's Bank of China, which is the country's central bank. That was the fourth such move in less than six months and takes loan rates to 6.31% and deposit rates to 3.25%. China's latest data featured the HSBC PMI Services Index for March. It came in at 51.7, which is down slightly from the 51.9 that was posted for the prior month. Hong Kong's Hang Seng advanced 0.6% amid relatively broad support, but Japan's Nikkei slipped to a 0.3% loss amid widespread weakness. Tokyo Electric Power pushed sharply lower once again. Toyota Motor (TM) also logged a loss. Moody's has put the company on review for possible downgrade. Softbank showed strength, but that was undermined by losses in the rest of the market.

08:05 am : S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +16.00. Stock futures point to a positive start after finishing flat in each of the past two sessions. During those two days of trade stocks failed to get much support from overseas markets, but action abroad has improved in the latest round of trade. China's Shanghai Composite outperformed other Asian averages as it ascended to a 1.1% gain after a holiday observance. Europe's major bourses are currently up with varied gains. Leadership has also been lacking in the past couple of sessions, although yesterday semiconductors offered support to a tech sector that inevitably surrendered its gain. A handful of semiconductor stocks are seeing renewed interest this morning. In contrast, American Superconductor (AMSC) has dropped precipitously in premarket trade following the firm's downside forecast. Outside of equities, precious metals continue to climb. In fact, earlier this morning gold prices hit a new record high and silver set a new 30-year high. Oil prices are currently down fractionally ahead of the latest inventory report.

06:31 am : [BRIEFING.COM] S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +11.00.

06:31 am : Nikkei...9584.37...-31.20...-0.30%. Hang Seng...24285.05...+134.50...+0.60%.

06:31 am : FTSE...6039.66...+32.60...+0.50%. DAX...7224.67...+49.40...+0.70%.


http://finance.yahoo.com/marketupdate/update
6:35PM Apogee Enterpr misses by $0.01, beats on revs (APOG) 13.49 +0.04 : Reports Q4 (Feb) loss of $0.12 per share, $0.01 worse than the Thomson Reuters consensus of ($0.11); revenues fell 0.5% year/year to $147.9 mln vs the $144.8 mln consensus. Co expects a slight increase in revenues for FY12, which would be a slight increase above $582.8 mln (Thomson consensus is $642.7 mln). Co said, "believe we have the potential to be profitable for the year, with first-half losses offset by second-half earnings. This outlook factors in our expectations that increased architectural glass pricing will flow through in the second half and that we will be able to fill open Q4 architectural segment capacity. We are anticipating lower margins in the installation business with execution of projects bid at the cycle trough. Overall, we are expecting that actions we've taken in our architectural businesses, ranging from price increases and productivity improvements to project selection changes, will result in improving results as fiscal 2012 progresses."

5:40PM Eldorado Gold acquires units of Serabi Mining plc (EGO) 17.38 +0.44 : Co reports that it has acquired ownership over 2,340,000 units ("Units") of Serabi Mining plc ("Serabi") on March 30, 2011, pursuant to the initial public offering ("IPO") of Serabi by way of long form prospectus. Each Unit is comprised of one ordinary share (an "Ordinary Share") and one-half of one ordinary share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Ordinary Share at a price of Cdn$0.75 per Ordinary Share until December 2, 2012.

5:09PM MedQuist Holdings to record restructuring charge in Q1 of $2.5 mln related to the completion of the integration of Spheris into MedQuist (MEDH) 10.48 -0.06 : Co announced it has begun the implementation of the previously disclosed integration plan of MedQuist Holdings Inc. (formerly known as CBay Systems Holdings Ltd.) and MedQuist Inc. The plan is expected to eliminate duplicate costs and inefficiencies attributed to running two separate public companies and further strengthen MedQuist Holdings as the leader in the clinical documentation industry. In line with the Co's performance goals for 2011 issued on March 15, 2011, the Co announced termination costs of ~$2.3 mln (compared with a projected range of $2.5-5.0 mln) associated with initiating the integration of MedQuist Inc. and MedQuist Holdings.

5:07PM American Safety Insurance Holdings announces Q1 charges of $5-7 mln due to New Zealand Earthquake and other events (ASI) 21.47 +0.32 : ASI announced that the co's 2011 Q1 results will include pre-tax losses attributable to the New Zealand earthquake and other events of between $5.0-7.0 mln. Components aggregating the range are as follows: catastrophe losses within the Assumed Reinsurance division attributable to the New Zealand earthquake are expected to be between $1.5-2.0 mln and other weather related property losses within its Excess and Surplus Lines division are expected to be between $1.0-1.5 mln. The remainder is primarily attributable to prior year casualty net reserve strengthening in the Assumed Reinsurance division related to two contracts that have been non-renewed.

5:06PM DuPont files federal lawsuit to protect Titanium Technologies intellectual property (DD) 56.02 -0.04 : DD filed a lawsuit against USA Performance Technology, Inc. (USA PTI), Performance Group (USA) Inc. and two individuals for allegedly misappropriating trade secrets and proprietary information related to the DuPont Titanium Technologies business. The suit was filed in U.S. Federal Court for the Northern District of California.

5:05PM DRI Corp announces credit and loan agreement extensions with U.S. Lenders (TBUS) 1.04 +0.02 : Co announced that it has secured extensions for existing credit and loan agreements with its U.S. lenders, PNC Bank, National Association ("PNC") and BHC Interim Funding III, L.P. ("BHC"), respectively, through April 30, 2012.

5:03PM Advanced Analogic Tech CFO resigns (AATI) 3.80 : Co announced that Brian McDonald has resigned from his position as Vice President of Worldwide Finance, Chief Financial Officer, and Secretary to pursue other interests. Ashok Chandran, who has been with the co for more than six years, most recently as Vice President and Chief Accounting Officer, will become interim Chief Financial Officer, effective immediately.

5:01PM Power-One lowers Q1 revs guidance, below consensus (PWER) 8.29 -0.30 : Co lowers Q1 revs to $240-245 mln vs. $275.5 mln Thomson Reuters consensus, below its previously announced range of $260-290 mln, due to market conditions and near-term feed-in-tariff uncertainty in Italy and Germany. Co said, "Although we expect to post a nearly 60% increase in revenue in Q1 of 2011 compared to 2010, we've revised our guidance for the quarter due to recent adverse conditions in the European solar market. Based on current developments, we still anticipate European countries such as Italy and Germany will continue to support solar adoption to reduce reliance on non-renewable sources of power. Further, for the remainder of 2011 and 2012, we believe we are better positioned to handle similar regional anomalies due to our expanded product line and focus on developing new markets, including the United States, China and India."

4:51PM Boeing, Qatar Airways announce order for five 777s (BA) 73.72 +0.49 : Boeing (BA) and Qatar Airways today announced orders for three 777 Freighters and two 777-300ERs. The orders are valued at $1.4 billion at list prices. The 777 Freighter order was previously accounted for on Boeing's Orders and Deliveries website as unidentified in 2010. The 777-300ER order was previously accounted for on the Orders and Deliveries website in 2011.

4:48PM American Intl reported ILFC announces commencement of exchange offer (AIG) 34.86 -0.12 : International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group (AIG), announced that it has commenced a registered exchange offer to exchange up to $1,250,000,000 8.625% Senior Notes due 2015 (the "8.625% Registered Notes"), which have been registered under the Securities Act of 1933, as amended for any and all of its privately placed 8.625% Senior Notes due 2015 (the "8.625% Private Notes"), and up to $1,500,000,000 8.750% Senior Notes due 2017 (the "8.750% Registered Notes" and together with the 8.625% Registered Notes, the "Registered Notes"), which have been registered under the Securities Act, for any and all of its privately placed 8.750% Senior Notes due 2017 (the "8.750% Private Notes" and together with the 8.625% Private Notes, the "Private Notes").

4:33PM Curtiss-Wright acquires Douglas Equipment Ltd. for ~$20 mln (CW) 35.35 +0.28 : Co announced that it has acquired the assets of Douglas Equipment Ltd. ("Douglas"), a supplier of ground support vehicles for the defense and commercial aviation markets, for ~$20 mln in cash. The business will become part of Curtiss-Wright's Flow Control segment. Dougles had ~$28 mln in sales in 2010.

4:33PM Pep Boys beats by $0.10, reports revs in-line (PBY) 13.61 -0.05 : Reports Q4 (Jan) earnings of $0.16 per share, includes a $1 mln tax benefit, $0.10 better than the Thomson Reuters consensus of $0.06; revenues rose 5.4% year/year to $477.4 mln vs the $481.4 mln consensus.

4:30PM AstraZeneca: FDA approves new treatment for rare form of thyroid cancer (AZN) 47.88 +0.42 : The U.S. Food and Drug Administration today approved vandetanib to treat adult patients with late-stage (metastatic) medullary thyroid cancer who are ineligible for surgery and who have disease that is growing or causing symptoms. Vandetanib is marketed by AstraZeneca (AZN) Pharmaceuticals. There is no trade name established for this drug at this time.

4:30PM Supervalu it is seeking the consent of lenders to amend its existing senior secured credit facilities to allow for the extension of its $497 mln term loan B-1 from June 2012 to April 2018 (SVU) 8.94 +0.01 : The Company expects to complete the amendment in late April.

4:29PM Assoc Banc-Corp completes the repurchase of $262.5 million of TARP Preferred Stock (ASBC) 14.84 +0.21 : Co has completed the repurchase of 262,500 shares of the Series A Preferred Stock that it issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program (TARP) Capital Purchase Program. Associated Banc-Corp paid the U.S. Treasury a total of $262.5 mln, plus an accrued dividend of $1.9 mln. The partial repurchase represents half of the $525 mln the company received under the Capital Purchase Program. On March 28, 2011, Associated Banc-Corp completed a public offering and sale of $300 mln of 5.125 percent senior notes due 2016. A portion of the net proceeds from the offering was used to repurchase the shares of Series A Preferred Stock.

4:28PM Oppenheimer Holdings announces pricing of senior secured notes offering (OPY) 33.03 -0.09 : Co announced that it priced $200 mln aggregate principal amount of 8.75% Senior Secured Notes due 2018 in connection with its previously announced private offering exempt from the registration requirements of the Securities Act of 1933, as amended.

4:25PM TransAtlantic Petroleum Ltd. receives notice of noncompliance With NYSE Amex continued listing standards (TAT) 3.08 -0.05 :

4:24PM Bed Bath & Beyond is 9% higher following earnings and guidance; FY12 EPS guidance is better than consensus (see 16:20 comment) (BBBY) 49.39 +0.49 :

4:21PM Rare Element reports final assay results drilling at the Bull Hill SW and Bull Hill NW resource areas; results continue to demonstrate the continuity of the mineralized bodies (REE) 13.14 -0.29 : The results continue to demonstrate the continuity of the mineralized bodies and show that the Bull Hill SW deposit is open to the southeast along strike and down-dip. The Bull Hill SW dike swarm exhibits excellent grade over significant widths. The results from drill holes RES10-51 and RES10-57 suggest that the dike swarm may continue west of the Bull Hill drainage, a zone interpreted previously as a fault (West Bull Hill fault), and open a new area of concentration for the 2011 drill program. The specific structural controls for REE mineralization in the Bull Hill NW resource area remain elusive and another focus for the Company's 2011 drilling. "Our interest in Bull Hill NW is also piqued by the intercept of significant gold mineralization in drill hole RES10-60, where the highest grade (12 ft @ 11.85 gpt Au) is contained within a silicocarbonatite dike. We expect 2011 to be another exciting year for the Company as we advance the Bear Lodge project."

4:20PM Bed Bath & Beyond beats by $0.15, beats on revs; guides Q1 EPS in-line; guides FY12 EPS above consensus (BBBY) 49.39 +0.49 : Reports Q4 (Feb) earnings of $1.12 per share, $0.15 better than the Thomson Reuters consensus of $0.97; revenues rose 11.6% year/year to $2.5 bln vs the $2.39 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.58-0.61 vs. $0.60 Thomson Reuters consensus. Co issues upside guidance for FY12, sees EPS growth of 10-15%, which calculates to ~$3.42-3.58 vs. $3.33 Thomson Reuters consensus.

4:19PM Horizon Technology Finance reports Q1 committed backlog increases to $51 mln (HRZN) 16.05 +0.11 : Based on Horizon's investment activity, gross new loan investments during the first quarter of 2011 totaled approximately $29 mln, which includes both new and existing portfolio company investments. Less refinanced balances, net new loan investments totaled approximately $26 mln. In addition, there was awarded backlog representing $33 mln in potential loan investments to 5 companies as of March 31, 2011. This compares to an awarded backlog of $5 mln as of December 31, 2010. Awarded term sheets are subject to the completion of due diligence and definitive documentation and there is no guarantee the Company will close any of these transactions.

4:17PM BSQUARE expands European operations (BSQR) 6.16 -0.26 : Co announced the expansion of its European operations and the hire of a new regional vice president. The regional expansion will continue with additional sales and support staff to be hired in Germany and the United Kingdom in 2011.

4:16PM Annaly Capital Mgmt announces conversion rate adjustment for 4.00% convertible senior notes due 2015 (NLY) 17.51 +0.05 : Co announces an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015. The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the previously announced first quarter 2011 common stock cash dividend of $0.62 per common share. The new conversion price for the Notes is $17.8464 per common share, effective March 29, 2011. The conversion price for the Notes was previously $18.4812 per common share.

4:15PM Montpelier Re currently estimates pretax net loss from Japanese earthquake and tsunami will be ~$126 mln (MRH) 18.50 +0.15 : Co currently estimates its pretax net loss from the Japanese earthquake and tsunami will be ~$126 million, which is net of retrocessional recoveries and reinstatement premiums and assumes a $25 billion industry loss. In view of the uncertainties associated with this preliminary estimate, Montpelier's actual losses may differ, perhaps significantly, from this estimate.

4:11PM Wright Express announces Steve Elder, currently VP, Corporate Finance and Treasurer, will become Senior VP and CFO; Melissa Smith, currently CFO and Executive VP, Finance and Operations, will become President of Wright Express North America (WXS) 53.55 -0.25 :

4:10PM Ruby Tuesday drops ~12.3% to $11.72 following earnings results, which fell short, and FY11 EPS guidance that was notably below consensus; stock now at $12.27 (see 16:09 comment) (RT) 13.37 -0.15 :

4:09PM Ruby Tuesday misses by $0.07, reports revs in-line; guides FY11 EPS below consensus (RT) 13.37 -0.15 : Reports Q3 (Feb) earnings of $0.24 per share, excluding non-recurring items, $0.07 worse than the Thomson Reuters consensus of $0.31; revenues rose 3.8% year/year to $319.1 mln vs the $319.8 mln consensus. Co issues downside guidance for FY11, sees EPS of $0.74-0.82 vs. $0.90 Thomson Reuters consensus.

4:07PM Immucor beats by $0.05, beats on revs; raises FY11 EPS, rev guidance above consensus (BLUD) 19.98 -0.02 : Reports Q3 (Feb) earnings of $0.32 per share, $0.05 better than the Thomson Reuters consensus of $0.27; revenues rose 3.5% year/year to $83.3 mln vs the $79.7 mln consensus. Co raises guidance for FY11, sees EPS of $1.18-1.20 vs. $1.14 Thomson Reuters consensus, up from $1.08-1.18; sees FY11 revs of $328-330 mln vs. $327.36 mln Thomson Reuters consensus, up from $320-322 mln. Consolidated gross margins are expected to be toward the top end of the previous guidance range of 69.5% to 71.0%. For the third quarter of fiscal 2011, the Company generated, on a worldwide basis, 31 Echo orders and 39 NEO orders. "For fiscal 2011, we expect to generate orders near the high end of our guidance range of between 80 orders and 120 orders worldwide for NEO."

4:07PM Value Vision Media redeems outstanding 12% series B preferred stock with proceeds from common stock offering (VVTV) 6.03 +0.61 :

4:07PM Commercial Metals announces promotion of Alvarado to President and COO (CMC) 17.38 -0.30 : Co announces that its Board of Directors has promoted Joe Alvarado to the position of President and Chief Operating Officer. Mr. Alvarado has been the Company's Chief Operating Officer since April 2010.

4:06PM Myriad Genetics and BioMarin Pharmaceutical (BMRN) enter into agreement; Myriad will assess BRCA status in PARP-inhibitor phase I/II study (MYGN) 20.15 +0.01 : MYGN announced that it has signed an agreement with BMRN to conduct BRCA1 and BRCA2 mutation testing on patients to be enrolled in BioMarin's Phase I/II clinical study of BMN 673, a novel PARP-inhibitor drug candidate in patients with advanced or recurrent tumors. Under the agreement, Myriad will perform Comprehensive BRACAnalysis with large rearrangement testing to identify the presence of germline mutations in the patients prior to enrolling in the study and provide standard test reports to the clinicians.

4:06PM Highwoods Prop acquires 48,000 square foot medical office building in Raleigh; co's investment is ~$9.0 million, which includes planned near-term capital expenditures (HIW) 35.07 -0.07 :

4:05PM WD-40 misses by $0.14, misses on revs; lowers FY11 EPS and revs guidance (WDFC) 43.67 +0.72 : Reports Q2 (Feb) earnings of $0.53 per share, $0.14 worse than the Thomson Reuters consensus of $0.67; revenues fell 1.6% year/year to $79.2 mln vs the $86.8 mln consensus. Co lowers guidance for FY11, sees EPS of $2.23-2.35 down from $2.25-2.40 vs. $2.31 Thomson Reuters consensus; sees FY11 revs of $335-350 mln down from $340-355 mln vs. $343.98 mln Thomson Reuters consensus. Co says "We continue to see challenges in terms of rising prices for many of our major input costs, and we will continue to work hard to manage them, we do anticipate that price increases in the second half of the current fiscal year will offset the flow through of some of those costs."

4:05PM Tessera Tech announces strategic reorganization initiatives; exploring a possible separation of its Imaging & Optics business (TSRA) 18.20 +0.50 : Co has formed new group charged with developing, acquiring and monetizing semiconductor technologies beyond packaging. The group, which will be responsible for an initial portfolio of ~280 patents and patent applications, will consist of ~40 current employees. Their focus will be on circuitry design, memory modules, 3-D architecture, and advanced interconnect technologies, among other areas. Tessera also announced that it is exploring a possible separation of its Imaging & Optics business. As part of this initiative, Tessera has retained GCA Savvian Advisors as its financial advisor to assist in the evaluation of multiple alternatives, including, among others, a spin-off transaction. Tessera has not set a definitive timetable for completing its exploration of alternatives for the Imaging & Optics business and there can be no assurance that the process will result in any transaction. Co does not expect to make further public comment regarding these matters unless a definitive agreement or other commitment for any transaction is reached.

4:03PM ReachLocal announces a strategic alliance with Auckland-based SureFire Search Ltd that will expand co's global reach by providing online advertising products and services to New Zealand's SMBs through SureFire's sales channel (RLOC) 18.52 +0.02 : Co announced today a strategic alliance with Auckland-based SureFire Search Ltd that will expand ReachLocal's global reach by providing online advertising products and services to New Zealand's SMBs through SureFire's sales channel. According to a recent study by IAB New Zealand/PwC, the total online advertising spend in New Zealand showed over 19.5 percent growth from 2009 to 2010, reaching $257.46M. Online search and directories accounted for 36 percent of the total spend, while online display accounted for 31 percent.

4:02PM Almaden Minerals surface work identifies new gold-silver targets near Ixtaca (AAU) 4.75 -0.10 : Co announces surface mapping and sampling results from its 100% owned Tuligtic project where the Ixtaca Zone is located. Co also updated shareholders on the progress of the current drill program on the Ixtaca Zone. Co anticipates drilling will continue on the Tuligtic project throughout 2011 apart from a break in operations over Easter. "We are very pleased with these new surface results which show the potential for further zones of epithermal gold-silver veining at Tuligtic in addition to the Ixtaca Zone. The results also show the potential for the Ixtaca zone of veining to be considerably larger than presently known. We are excited to test these new targets with drilling in the upcoming months while drilling continues at the Ixtaca Zone."

4:01PM Fifth Street Finance announces $150 mln private offering of convertible sr notes (FSC) 13.41 +0.15 : Fifth Street intends to use substantially all of the net proceeds from this offering to reduce outstanding borrowings, make investments in small and mid-sized companies in accordance with its investment objective and strategies and for general corporate purposes.

4:01PM Alnylam Pharma files answer and counterclaim related to Tekmira (TKMR) lawsuit (ALNY) 9.96 +0.32 : Co says it continues to believe that the complaint filed by Tekmira is without merit or foundation, and the company intends to fully defend itself in this matter... "Our focus remains on the advancement of RNAi therapeutics to patients and execution on our clinical programs."

4:01PM Inhibitex intends to commence a public offering of its common stock (INHX) 4.64 -0.31 : Co intends to use the net proceeds from the offering for working capital and general corporate purposes, including a Phase 2 clinical trial for INX-189. Deutsche Bank Securities Inc. is acting as sole book-running manager.

4:01PM Blackboard has signed an amendment to its credit facility to allow for borrowings of up to $225 mln (BBBB) 37.35 +0.82 : Proceeds from the expanded facility will be used for general corporate purposes which may include share purchases, repayment of other debt and acquisitions.

4:00PM Navios Maritime announces that its majority owned subsidiary, Navios South American Logistics priced $200.0 million of 9.25% senior notes due 2019 (NM) 5.77 -0.07 :

3:42PM eDiets.com announces plans for rights offering to stockholders (DIET) 0.42 -0.01 : Co announces that it filed a registration statement on Form S-1 with the Securities and Exchange Commission for a rights offering in which stockholders will receive non-transferable rights to purchase newly issued shares of the Company's common stock, par value $0.001 per share. The rights will be issued to all stockholders as of a record date that has yet to be determined. The subscription price and the amount of shares to be offered are also yet to be determined.

3:41PM Alliance Data provides statement surrounding unauthorized entry incident at Epsilon subsidiary (ADS) 84.10 +0.36 : "We are extremely regretful that this incident has impacted a portion of Epsilon's clients and their customers. We take consumer privacy very seriously and work diligently to protect customer information... We apologize for the inconvenience that this matter has caused consumers and for the potential unsolicited emails that may occur as a result of this incident. We are taking immediate action to develop corrective measures intended to restore client confidence in our business and in turn regain their customers' confidence."

3:22PM UPS aircraft mechanics represented by the International Brotherhood of Teamsters ratifies a new labor agreement that runs through Nov. 1, 2013 (UPS) 74.50 +0.35 : The 1,136 members who voted ratified the contract by a wide margin, 69% to 31%. The contract covers 1,200 aircraft maintenance technicians and employees in related trades at UPS Airlines.

3:19PM KBW Regional Bank ETF continues to display relative strength, probes its Feb/three month peak at 27.32 -- session high 27.31 (KRE) 27.30 +0.48 : Its 11 month close/intraday highs from Jan are at 27.53/27.54 -- BOH, CVBF, FMER, FULT, MBFI, ONB, PACW, SBNY, SIVB, UMPQ.

3:15PM Covidien receives FDA premarket approval for pipeline embolization device (COV) 52.74 +0.33 : Co announces that it received Premarket Approval from the U.S. Food and Drug Administration for the Pipeline Embolization Device, indicated for the endovascular treatment of adults with large or giant wide-necked intracranial aneurysms in the internal carotid artery from the petrous to the superior hypophyseal segments.

3:04PM Citigroup testing its Mid-March reaction high and its 50 sma at 4.62/4.65 (C) 4.62 +0.15 :

2:51PM Sunrise Senior Living issues the following statement today about the matter at The Quadrangle (SRZ) 10.38 +0.18 : "We are taking these allegations very seriously. Our number one concern, above all else, is the safety of our residents. We have a number of policies and procedures in place that address their welfare and are intended to prevent any inappropriate activity in our community. While we continue to work closely with the police in their investigation, we cannot discuss this in any more detail at this time. To ensure that all necessary steps are taken, Sunrise Senior Living CEO, Mark Ordan, is travelling immediately to Haverford, PA."

2:50PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : May corn futures fell 3.75 to $7.63/bu, May wheat fell 4 cents to close at $7.8225, May soybeans rose 3.25 cents to close at $13.72, April ethanol closed lower by 0.016 cents at $2.703, while May world sugar futures closed down 0.84 cents to 26.71 cents.

2:49PM New afternoon rebound highs for stock indices -- Dow +1, S&P +3, Nasdaq Comp +10 (SPY) : Relative strength in recent action has been noted in Finance XLF, Reg Bank KRE, Energy XLE, Oil Service OIH, Networking IGN, Disk Drive, Solar TAN, Housing XHB.

2:40PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled higher by $0.49 to $108.83, natural gas shed 8.4 cents to close at $4.147, heating oil gained 0.4 cents to finish at $3.189, while RBOB gasoline ended lower by 1.25 cents to $3.1888 (all May contracts).

2:31PM Waste Mgmt notches a new session high of 38.29, its 52-wk close high from Jan is just above at 38.34 (WM) 38.27 +0.53 : The 52-wk intraday peak from Jan comes into play thereafter at 38.58.

2:21PM Anaren confirmed earlier that AML Comm (AMLJ) received superior offer (ANEN) 19.15 +0.84 : Anaren announced that AML Communications advised the Company earlier that AMLJ has received a formal binding offer from Microsemi Corporation (MSCC) to acquire all of the outstanding shares for $2.50 per share in cash upon the terms and conditions set forth in a proposed Agreement and Plan of Merger. AMLJ also advised Anaren that its Board of Directors determined that Microsemi's offer constitutes a "Superior Offer" within the meaning of the Agreement and Plan of Merger entered into with Anaren dated February 13, 2011, and that the failure of the AML Board of Directors to withdraw or modify its recommendation in favor of the Anaren Merger Agreement would violate the AML Directors' fiduciary duties to AMLJ stockholders under applicable law.

2:01PM Immunomedics awarded U.S. patent for Veltuzumab, co's humanized anti-CD20 antibody in advanced clinical testing (IMMU) 4.06 +0.10 :

1:51PM Theragenics has pulled back after Eckert & Ziegler confirmed it withdrew its offer to acquire Theragenics (TGX) 2.04 -0.08 : The Executive Committee of Eckert & Ziegler Strahlen- und Medizintechnik AG determined not to increase, or to continue to pursue, its offer to acquire Theragenics Corporation due to continued resistance from the Theragenics board of directors against any kind of negotiated transaction, and for lack of evidence that the additional effort of a hostile take-over would be justified by the risk-adjusted business value of the target. Eckert & Ziegler therefore withdraws its offer to acquire Theragenics.

1:39PM Intl Speedway increases annual dividend to $0.18 per share from $0.16 per share (ISCA) 32.11 +0.27 :

1:33PM COMEX Metals Closing Prices (COMDX) : June gold finished higher by $6 to $1458.50, May natural gas ended up 17 cents to $39.36, while May copper rallied for 10.15 cents to at $4.366.

1:31PM Southern Community Finl receives notice from NASDAQ that co is in violation of Listing Rule with its 2007 Restricted Stock Plan adoption without obtaining shareholder approval (SCMF) 1.66 +0.03 : Additionally, co did not file with NASDAQ a Listing of Additional Shares notification at least 15 days prior to establishing the Plan in violation of Listing Rule 5250(e)(2).

1:05PM Wright Express expands accepting network to include RaceTrac locations (WXS) 52.94 -0.86 : The agreement with RaceTrac adds over 300 locations to the Wright Express network of accepting locations. That's 90% of fueling stations in the U.S. -180,000 fueling sites, including 54,000 diesel fuel locations - and 45,000 service stations.

1:02PM Clean Energy Fuels issues press release regarding proposed Federal legislation on natural gas (CLNE) 17.16 +0.18 : Co states "This backing by Congress is critical for our nation to succeed in its goal of creating a new alternate energy economy that's not dependent on imported petroleum, and we applaud efforts to achieve this most important objective."

1:01PM Microsoft and Toyota (TM) to participate in 1 billion yen (~$12 mln) investment in Toyota Media Service Co; partnership to build platform for TM's next-generation telematics services using Windows Azure platform (MSFT) 26.08 +0.30 : Note the cos announced yesterday after the close plan to host conference to discuss a collaboration between the two companies. Media can register and ask questions online, following opening remarks from each executive.

12:53PM Portfolio Recovery Assoc. reports Missouri appellate court upholds decision to dismiss Attorney General's lawsuit against co's subsidiary (PRAA) 85.52 -0.06 : Co announced that the Missouri Court of Appeals Eastern District has upheld the decision of a lower court to dismiss a lawsuit by the Missouri Attorney General against its subsidiary, Portfolio Recovery Associates. The case, State of Missouri v. Portfolio Recovery Associates, which alleged that co violated Missouri's Merchandising Practices Act by engaging in unfair debt collection practices, was previously dismissed by the Circuit Court of the City of St. Louis last June. On April 5, 2011, the Missouri Court of Appeals Eastern District affirmed last year's decision by The Circuit Court, again rejecting the Attorney General's attempt to apply the MPA to debt collection. In its ruling, the Court of Appeals commented that "we cannot undertake a legislative role and write into the MPA language that simply does not exist."

12:20PM Crude gives back gains to slide into negative territory; now off a penny to $108.33 (COMDX) :

12:19PM Excel Trust has acquired two properties for approximately $92.1 mln using a combination of cash and shares (EXL) 11.81 +0.03 :

12:11PM Stock indices set new pullback lows in midday trade, short term oversold/divergent -- Dow +16, S&P +0.1, Nasdaq Comp +0.5 (SPY) :

12:07PM F5 Networks sets minor new low of 93.34 attempting to stabilize at last wk/this wk lows between 93.41 and 93.23 (FFIV) 93.60 +0.25 :

12:02PM New session lows for S&P -1.1 and Nasdaq Comp -2.5 -- Dow +9.9 sets new pullback low but holds above flat line (SPY) :

11:48AM Ambassadors Intl announces that Windstar Cruises' luxury yachts are sailing as scheduled and all Windstar fares and reservations, including charter contracts, are being honored (AMIE) 0.54 +0.06 : At a hearing April 5, 2011, the U.S. Bankruptcy Court for the District of Delaware granted permission for Windstar and Ambassadors, among other things, to: Maintain all of Windstar's customer programs and policies and honor all Windstar fares and reservations, including charter contracts; -- Provide commissions and payments to travel partners as usual; and -- Pay employees and crewmembers in the usual manner and to continue their benefits without disruption.

11:46AM Smithfield Foods confirms discussions to acquire controlling interest in Campofrio Food Group (SFD) 23.55 -0.49 : Co confirmed that the company and Pedro Ballve are currently evaluating a joint de-listing takeover bid to acquire the remaining approximate 50 percent of Campofrio Food Group, S.A. for EUR9.5 per share. Smithfield currently owns 37 percent of Campofrio.

11:45AM Stock indices extend pullback off morning peaks -- Dow +12, S&P +0.2, Nasdaq Comp +1.8 (SPY) : Energy/Commodity have paced the way lower (XLE, OIH, MOO, KOL, XLB).

11:43AM Smithfield Foods halted, news pending (SFD) 23.55 -0.49 :

11:32AM Goldman Sachs continues to display relative strength today, notches new session high of 161.47 near its 50 day ema (GS) 161.46 +2.55 : The rally last week was capped near its declining 50 day ema which comes into play today at 161.54. Last week's high and the top of its narrowing near three week range are at 162.00/162.21.

11:31AM Williams-Sonoma recalls hot chocolate pots due to burn and laceration hazards; ~28,000 units in the United States and 700 in Canada (WSM) 41.81 +0.21 :

11:30AM Crude oil extending bounce off of post-inventory lows at $108.15; currently up 51 cents to $108.85 (COMDX) :

11:15AM Finance XLF and Reg Bank KRE display some relative strength as they edge back toward session highs while the market pulls back (XLF) :

11:15AM Nat gas ticks to lows; now off 6.3 cents to $4.168 (COMDX) :

11:09AM Fresh pullback lows/session lows for Nasdaq Comp +6.6 and S&P +1.7, Dow +27 has not broken under its morning pullback low yet but is nearing (SPY) :

11:03AM Source Capital, Inc. reports unaudited total net assets and net asset value per common share at quarter end March 31, 2011: total net assets of $605 mln vs $517 mln yr-ago; value per common share of $63.61 vs $53.53 yr-ago (SOR) 58.81 -0.17 :

11:03AM Relative Sector Weakness (TECHX) : Sector that are underperforming the S&P in recent trade include: Energy XLE, Oil Service OIH, Materials XLB, Coal KOL, Gold Miners GDX, Silver SLV, Commodity Index, Rail, Internet FDN.

11:02AM Gold, silver pull back (COMDX) :

* Gold now higher by $5.40 to $1457.90.
* Silver up 19.2 cents to $39.375.

10:55AM Relative Strength in Education in recent trade (TECHX) : CECO +3.5, STRA +3.5%, ESI +2.7%, EDMC +2.4%, LOPE +2.4%, COCO +2%, APOL +2%, CPLA +1.8%, APEI +1.7%.

10:42AM Triumph Group announces amendment to its existing revolving credit agreement which increased the size, modified the fee structure and extended the maturity to five years (TGI) 87.67 -0.01 : The amendment increased the company's secured revolving credit facility from $535 million to $850 million with a $50 million accordion feature and also extended the term through April 5, 2016. The amendment results in a more favorable pricing grid and a more streamlined package of covenants and restrictions. The company intends to use the facility to immediately retire its $350 million Term Loan B and for working capital purposes, internal growth initiatives, funding of future acquisitions and other general corporate purposes.

10:42AM FX Energy drilling Montana well to evaluate Bakken potential (FXEN) 9.25 +0.12 : Co is rigging up to begin the re-entry of an existing wellbore in northern Montana. The purpose of the re-entry is to gather data from the wellbore to assist the Company in evaluating the hydrocarbon and CO2 potential in the Company's northern Montana acreage. The well will be deepened from its current depth in the Cutbank formation of approximately 3,216 feet. Following completion of the re-entry project the well will be plugged and abandoned. For strategic reasons, results of the test will remain confidential.

10:37AM Stock indices lift off morning pullback lows, Dow +46 sets a new session high -- S&P +4 and Nasdaq Comp +15 did not confirm the move (DIA) :

10:30AM Crude oil extends pullback following inventory data; now up 21 cents to $108.56 (OIH) :

10:30AM First Solar extends its recent pullback lower intraday as it dips down to challenge its 50-day ema ($151.38) just off of the $150.00 support zone (FSLR) 150.91 -2.10 :

10:20AM Pullback off early highs in stock indices slightly extended -- Dow +24, S&P +2.4, Nasdaq Comp +12.7 (SPY) :

10:19AM American Learning announces proposed acquisition and sale of certain assets; acquisition to be accretive immediately (ALRN) 2.76 +0.11 : Co announced it has signed a non-binding letter of intent to acquire an 80% interest in an east coast company which provides educational and behavioral health professionals that has reported revenues averaging over $30 million per year over the last few years. The Company will have the option to acquire the remaining 20% interest at a future date. The proposed acquisition would be accretive to the Company's earnings immediately. Payment for the proposed acquisition is to be made by a combination of cash and notes payable at closing with an additional sum based on future earnings. Current management in the company will continue in their existing capacities. Also, on March 31, 2011, the Company completed the disposition of certain assets of its wholly owned subsidiary, Interactive Therapy Group Consultants.

10:12AM Energy Select Sector hovering just under its 52-wk peak from last week (XLE) 80.71 +0.43 : After three days of very tight range action the XLE pushed up toward its 52-wk high from last week at 80.97 in opening trade (session high 80.90). Range trade modestly under these highs has developed over the last half hour -- XOM, CVX, SLB, COP, APA, HAL, APC, DVN, XTO.

10:08AM Halliburton wins services contracts for HP/HT fields in Norway; multiyear awards have the potential to exceed more than $200 million in value (HAL) 49.98 +0.22 : Co has been awarded several contracts by Statoil (STO) to provide services for two high-pressure/high-temperature fields offshore Norway. Halliburton estimates that these significant multiyear awards have the potential to exceed more than $200 mln in value. Under these contracts, Halliburton will provide directional drilling, logging-while-drilling, cementing, drilling fluids, and completion equipment and services at the Gudrun and Brynhild fields. Drilling is scheduled to start in the third quarter of 2011.

10:08AM Technology Select Sector SPDR range trade near resistance (XLK) 26.10 +0.22 : The Technology ETF (XLK) has been a laggard for the last five months. While the XLK has yet to turnaround this underperforming trend, it continues its two week flirtation with resistance at its trend indicating 50 day sma/ema (Click for chart) -- AAPL, IBM, MSFT, T, GOOG, ORCL, VZ, CSCO, INTC, QCOM.

10:01AM Comtech Telecom reports its subsidiary received orders aggregating $3.3 mln addressing the needs of multiple customers for different applications (CMTL) 29.00 +0.27 :

10:01AM Verizon and Liberty Starz's (LSTZA) Starz Entertainment announce new, expanded FiOS TV agreement (VZ) 37.81 -0.09 : Cos announced a new, multiyear agreement that extends and expands the FiOS TV affiliation agreement. As part of the new comprehensive deal, Verizon will continue to offer the full complement of Starz Entertainment's offerings, including its premium linear and HD channels, On Demand, HD On Demand and online services. The new agreement also enables Verizon to offer FiOS TV customers MOVIEPLEX, including MOVIEPLEX ON DEMAND in SD and HD, as well as other premium services in the future.

10:00AM Sprint Nextel announces that VHA has agreed to a three-year contract extension with Sprint worth an estimated $1.2 billion. (S) 4.69 +0.14 :

9:58AM Crystallex received notice that the NYSE intends to proceed with an application to the SEC to remove the co's common shares from listing (KRY) 0.16 0.00 :

9:55AM Crude oil spikes to highs at $109.15; now up 72 cents to $109.06 (COMDX) :

9:51AM Advanced Battery Tech responds to allegations by Variant View Research (ABAT) 2.18 +0.11 : Co responded to the research report published online on March 30, 2011 by a short seller operating under the pseudonym "Variant View Research." "The publication by Variant View was, by its admission, intended to support the short-selling activities of the actual author of the report. ABAT's management carefully reviewed the report when it was first published and determined that it, like other self-serving short seller "reports," consisted of nothing more than innuendo and distortions of the clear facts published in ABAT's reports to the SEC."

9:48AM Opening Point Gainers/Losers (TECHX) : Point Gainers: ISRG (+11.62), EDU (+7.99), MSM (+6.98), AGQ (+4.52), GWW (+4.12), AAPL (+3.73), NFLX (+3.05), OPEN (+2.74), WYNN (+3.02), FAST (+2.92), APKT (+2.88)

Point Losers: AMSC (-12.28), PNRA (-3.51), CF (-1.71), MON (-1.47), GOLD (-1.07), MOS (-0.94), GPN (-0.81), RBA (-0.81)

9:45AM Columbia Labs and Watson Pharmaceuticals (WPI) announce the publication of Phase III PROCHIEVE data in today's online version of Ultrasound in Obstetrics & Gynecology; results significantly reduced the rate of preterm (CBRX) 3.97 0.00 : The published results indicate that administration of vaginal progesterone from the midtrimester of pregnancy until term in women with a premature cervical shortening as confirmed by transvaginal ultrasound significantly reduced the rate of preterm birth before 33 weeks gestation (p=0.020). Use of PROCHIEVE was associated with a 45% reduction in the incidence of preterm birth before 33 weeks gestation. Further, improvement in infant outcome was noted with PROCHIEVE. Data published in the study also demonstrated that self-administered PROCHIEVE progesterone gel was associated with a significant reduction in the risk of preterm birth before 28 and before 35 weeks of gestation. Adverse events were comparable between women who received PROCHIEVE and those who received placebo. (CBRX is halted)

9:41AM Sappi Limited prices its upsized bond offering to raise ~$705 million equivalent of new senior secured notes (SPP) 5.39 0.00 : The new notes will be issued by Sappi Papier Holding GmbH in a series of 250 million pound notes maturing in 2018 issued at a price of 100% with a coupon of 6.625%, and a series of US$350 million maturing in 2021 issued at a price of 100% with a coupon of 6.625%.

9:39AM Cotton ETF rose limit-up (+3.6%) earlier this morning following news that unfavorable weather may delay Australia's cotton harvest (BAL) 110.62 +7.16 : July cotton futures rose 7 cents (or +3.6%), the exchange limit, to $2.0081/lb.

9:38AM CDC Software expects Q1 cloud bookings to increase ~33% q/q (CDCS) 4.64 +0.20 : Co announced that, based on current financial projections and estimates, the Company expects an increase of approximately 33% in Secured Total Contract Value (STCV), or bookings, for Software-as-a-Service (SaaS) sales secured during Q1, compared to Q4. Secured Total Contract Value (STCV) is the contract dollar amount for the duration of the contracts for all SaaS contracts secured, including new logo contracts, upsell, rental, as well as all renewals received by the end of the quarter. CDC Software's first quarter 2011 SaaS renewal rate was approximately 94%. First quarter 2011 Total Contract Backlog (TCB) is expected to increase ~5% over Q4. Specifically, during Q1 of 2011, cloud TCB was at its highest levels since the company started its cloud business in the latter part of fourth quarter of 2009. TCB is the sum of the remaining revenue value of SaaS and term license or rental contracts through the end of their respective terms, the value of contracted renewals for current SaaS and rental contracts based on 12 months of value, plus maintenance revenues from existing on-premise contracts over the previous 12 months. The upsell rate for cloud business, which is the value of all the extensions and add-ons sold to existing clients compared to total TCB, was 42%, compared to 24% in the fourth quarter of 2010.

9:36AM Dreams announces plan to partner with Sportswear (DRJ) 2.31 +0.06 : The new partnership will incorporate the Sportswear customization technology into the FansEdge.com shopping experience.

9:35AM Semiconductor Hldrs ETF near yesterday's high, it March recovery high and a retracement area at 35.01/35.09 and pauses -- session high 34.98 (SMH) 34.86 +0.24 : BRCM +4.4%

9:32AM Solid open with Nasdaq Comp +15 edging above Tuesday's high, Dow +35 and S&P +4.5 are approaching a similar level (SPY) :

9:30AM S&W Seed announces the expansion of its global distribution network with the addition of an international distributor of forage crops currently serving international agricultural market (SANW) 3.97 0.00 : The new international dealer relationship was marked by the issuance of an initial $260,000 purchase order for the Company's proprietary alfalfa varieties.

9:20AM NCI awarded DOJ Information Technology Support Services-4 contract (NCIT) 24.34 : Co has been awarded the Department of Justice (DOJ) Information Technology Support Services-4 (ITSS-4) Multiple Agency Contract (MAC). The ITSS-4 contract has a ceiling value of $1.1 billion with a projected contract term for placing orders covering a seven-year period - a base period through September 30, 2011 and 6 one-year option periods. The ITSS-4 contract is an Indefinite Delivery/Indefinite Quantity (IDIQ) multiple award contract vehicle that may be utilized by any DOJ component (e.g., Office, Bureau, or Division), as well as non-DOJ Federal agencies. NCI is one of 20 awardees on the ITSS-4 contract.

9:20AM Grupo Aeroportuario Del Sureste announces total passenger traffic for March 2011 down 2.3% YoY (ASR) 58.52 :

9:19AM Dot Hill Systems announced it will be showcasing a newly tested and certified video post-production solution for Apple (AAPL) users at the forthcoming NAB Show (HILL) 2.72 : The solution has been fully tested and certified to easily integrate with Apple workstations running Mac OS X and the Apple Xsan file system.

9:17AM On The Wires (WIRES) :

* Inland Real Estate (IRC) announced that its joint venture with Inland Private Capital has acquired a 66,393-square-foot, single-tenant retail property located in the Chicago, Illinois suburb of Arlington Heights. The JV acquired the property in an all-cash transaction from a private developer for a purchase price of ~$20.8 mln.
* Safe Bulkers (SB) announced that it has entered into shipbuilding contracts for the construction of two Japanese-built, drybulk Panamax-class vessels at attractive prices, with an expected delivery date in the first half of 2014.
* Intec, recently acquired by CSG Systems (CSGS) and one of the world's leading providers of Business Support System solutions to the global telecom industry, announced that MasterCard (MA) commenced production in January 2011 on Intec's market-leading products, Singl.eView and Inter-mediatE.

9:09AM Vision-Sciences, Inc. clarifies that recent beneficial ownership reports filed yesterday with the SEC on Form 4 on behalf of certain members of its management team did not reflect any actual sales of company shares held by management (VSCI) 2.78 : Co also commented on FY11. "Despite not achieving all of our goals, we continue to increase traction in all of our markets. We recently launched our domestic product program under the supply agreement with Stryker and are continuing to focus on our airway-related products and our spine video endoscopes."

9:04AM On The Wires (WIRES) :

* Orbit International Corp. (ORBT) announced that its Orbit Instrument Division received a $603,000 order for Standard Terminal Automation Replacement System keyboards for use in air traffic control systems in U.S. airports.
* Alterra Capital (ALTE) announced the formation of New Point IV, a sidecar vehicle established to create additional capacity for the property catastrophe collateralized reinsurance marketplace. Alterra and partners have committed up to $100 mln each to capitalize New Point IV.
* Harris (HRS) has received a $4.6 mln order from a nation in Eastern Africa for Falcon III and Falcon II tactical radios.

9:03AM Raytheon awarded a $177 mln contract modification by the Federal Aviation Administration to continue deployment of the Standard Terminal Automation Replacement System (RTN) 50.57 :

9:01AM Cypress Semi announces that it will vigorously defend itself in a patent lawsuit filed by Avago Technologies (AVGO) (CY) 19.21 : Co announces that it will vigorously defend itself in a patent lawsuit filed by Avago Technologies (AVGO). The lawsuit, filed on January 21 in the Federal District Court of Delaware, alleges that CY's well-received OvationONS optical navigation technology infringes on Avago's intellectual property. "Cypress will show at trial that its technology is fundamentally different than the technology covered in Avago's patents. In fact, Cypress's solution is based on an entirely distinct method of tracking. Avago's patents are based on image correlation techniques where a series of images are taken and compared to detect movement. Cypress instead uses its own, patented OptiCheck technology, which the company has invested tens of millions of dollars to develop. OptiCheck is a proprietary, speckle-based two-dimensional comb array technology."

9:01AM Duoyuan Global Water announces it forms special investigation committee; expands 3rd party review into investigation (DGW) 3.21 : Co announced that it has passed the following resolutions: "The Board has broadened the third party review, which was authorized by the Board on September 14, 2010 and is led by Skadden, Arps, Slate, Meagher & Flom, into a more thorough and exhaustive third party investigation. In doing so, the Board authorizes Skadden to investigate the Company's business practices including but not limited to finances, accounting, operations and internal control... The Board has established a Special Investigation Committee to oversee the third party investigation."

8:47AM Anooraq Resources confirms the appointment of Harold Motaung as CEO (ANO) 1.24 : Co announces confirms the appointment of Harold Motaung as the CEO of the Company with effect from April 1, 2011, as approved by the Board. Motaung will succeed Philip Kotze, whose fixed-term three-year contract terminates with effect from 1 April 2011. Kotze will continue to act as a consultant to Anooraq. Motaung has been an executive director of Anooraq since 2004.

8:47AM Nevsun Resources announces the Bisha mine in Eritrea processed 461,000 tonnes of ore yielding 75,000 ounces of gold in dore in Q1 2011 (NSU) 6.29 : The Bisha mine continues to perform very well and is now producing over 1,000 oz gold per day.

8:46AM Netsol signs multimillion-dollar contract with TCS Private Limited (NTWK) 1.73 : Co announced that it has signed a three-year, multimillion-dollar contract with TCS Private Ltd. ("TCS"), Pakistan's leading express and logistics provider, to develop a customized operations management IT solution.

8:45AM Grupo Aeroportuario del Pacifico reports passenger traffic decrease of 5.1% YoY for March 2011 (PAC) 41.62 : CO announces today preliminary terminal passenger traffic figures for the month of March 2011 compared to traffic figures for March 2010. During March 2011, total terminal passengers decreased 5.1% YoY; domestic passenger traffic increased 6.0% YoY, while international passenger traffic decreased 3.6% YoY. Co states: "It is important to mention that during 2010, the Holy Week vacation period took place during the month of March. However in 2011, this vacation period will take place during April. As a result, year-over-year growth figures are not perfectly comparable. This distortion is particularly noticeable in the airports that have higher tourist traffic."

8:41AM On The Wires (WIRES) :

* Verint Systems (VRNT) announced that the Nextiva Video Management software is integrated with Automatic License Plate Reader technology provided by INEX Technologies. This solution expands the capabilities of the Nextiva Video Management software by adding the ability to capture license plate images and data.
* China Marine Food (CMFO) board of directors has approved and issued 700,000 shares of common stock to employees.
* Capstone Turbine Corporation (CPST) has signed an OEM agreement with Sustainable Environmental Technologies Corp (OTCQB: SETS). Capstone has received its first order from SET Corp and will supply microturbines and accessories used in the manufacture of SET Corp's high efficiency MultiGen cooling, heating, power and water generation systems. Additionally, SET Corp will leverage Capstone's extensive distributor network for sales support and after sale service.
* The Dreyfus, part of BNY Mellon (BK) Asset Management, announced that it has launched a new global bond fund, Dreyfus Global Dynamic Bond Fund. The fund seeks total return by investing in bonds, currencies and other instruments that provide investment exposure to global bond and currency markets.
* CareFusion (CFN) announced it has acquired technology to automate the segregation of pharmaceutical waste, helping hospitals reduce cost, improve regulatory controls and facilitate environmental responsibility.
* CTC Media (CTCM) announces that CTC Media's Channel 31 in Kazakhstan reached its highest ever audience share of 14.8% during the first quarter of 2011 in its target demographic according to TNS Central Asia.

8:36AM Kilroy Realty prices 5.25 mln shares common stock at $38.25 per share (KRC) 39.46 : All of the shares are being sold by Kilroy Realty Corporation. BofA Merrill Lynch, Barclays Capital and J.P. Morgan are acting as joint book-running managers. The estimated net proceeds from the offering are expected to be ~$192.3 million, before giving effect to any exercise of the underwriters' overallotment option.

8:35AM Liz Claiborne reports results of its Tender Offer to Purchase Certain of its EUR350.0 mln 5.0% Notes Due 2013 extends the settlement date for the tender offer (LIZ) 5.57 : Co announces EUR128.5 mln of Notes had been tendered into the Offer. The co expects to announce whether it has decided to accept valid tenders of Notes for repurchase pursuant to the Offer. The co is also announces that it will extend the expected Settlement Date from April 7, 2011 to April 8, 2011 in order to coordinate the timing of the Settlement Date with the closing of the financing for the Offer.

8:35AM Quepasa announced an agreement with Tutudo, to make Tutudo's E-Wallet payment solution available for all Quepasa games (QPSA) 5.83 : "The Tutudo E-Wallet allows for the purchase of game currency credits through a network of 70,000 points of sale (POS) in Brazil, including newsstands and Internet cafes... Quepasa will promote Tutudo as its exclusive POS payment solution in Brazil and Mexico and Tutudo will include Quepasa's games in all of its media campaigns."

8:32AM Immunomedics announces preclinical results of TF2 for pretargeted imaging of colon cancer; revealed a rapid and very specific uptake of radioactivity in tumor (IMMU) 3.98 : Co reported results that indicate immunoPET with TF2 and a gallium-68 (68Ga)-labeled peptide is a highly specific and sensitive imaging method for colon cancer. Within one hour of injecting the 68Ga-labeled peptide, pretargeted immunoPET scan revealed a rapid and very specific uptake of radioactivity in the tumor, while the inflamed muscle was not visualized. As a result, high tumor to background ratios of radioactivity concentrations were obtained. In contrast, 18F-FDG, the most widely used radiopharmaceutical approved for use in the U.S. for the detection of certain tumors, localized efficiently in the tumors as well as in the inflamed muscle and in a number of normal tissues, resulted in a tumor to intestines ratio of 4.0 +/- 0.9, a more than 10-fold decrease compared with TF2. Efficient tumor uptake of the 68Ga-labeled peptide in the intraperitoneal CEA-positive tumors (23.4 +/- 7.2% ID/g) was also observed. The high and specific uptake in the CEA-expressing tumors combined with the very low uptake in normal tissues, such as the intestines, produced clear visualization of very small abdominal tumors of less than 2mm.

8:31AM Clean Harbors signs a definitive agreement to acquire Peak Energy Services for ~CAD $196mln; expects the acquisition of Peak will be immediately accretive (CLH) 99.87 : Co announces that it has signed a definitive agreement to acquire Calgary, Alberta, Canada-based Peak Energy Services, a diversified energy services company. Under the agreement, co will purchase Peak for ~CAD $196 million consisting of a combination of cash and assumed debt. The acquisition is expected to be completed during the second quarter of 2011. Each of the directors and officers of Peak and Deans Knight Capital Management Ltd., collectively holding 53.6% of the issued and outstanding Peak shares, have entered into agreements with Clean Harbors pursuant to which such holders have agreed to vote such Peak shares in favor of the acquisition at the Peak shareholders' meeting, expected to be held on May 25, 2011. Under the terms of the agreement, co will pay ~CAD $161 million in cash, (CAD $0.95 for each Peak share that it does not currently own) including payments to holders of in-the-money Peak stock options, and assume Peak's net debt which at March 31, 2011 is estimated to be ~CAD $35 million. Co plans to fund the purchase of Peak from its available cash. Co expects the acquisition of Peak will be immediately accretive, excluding any one-time fees and acquisition-related expenses.

8:26AM On The Wires (WIRES) :

* Advanced Photonix (API) announced that it has shipped the second Computer Tomography accessory to NICT in Japan.
* Calix (CALX) announced that Broadband Stimulus award winner Atlantic Telephone Membership Corporation, North Carolina's largest telephone cooperative, has selected the Ethernet eXtensible Architecture Powered Calix E7 Ethernet Service Access Platform, along with the 700GX/GE family of optical network terminals, to bring fiber-based broadband services to Columbus County, North Carolina.

8:15AM Scorpio Tankers enters into an agreement to charter-in a 2007 built Handymax ice class 1B product tanker, the Kazdanga (STNG) 10.30 : This vessel will be chartered-in for one year at $12,345 per day and is expected to be delivered in June 2011. The agreement includes an option for Scorpio Tankers to extend the charter for an additional year at $13,335 per day.

8:14AM Curis presents highlight breadth of targeted cancer platform (CRIS) 3.69 : Co reports pre-clinical data characterizing three drug development candidates that target cancer signaling networks. The data demonstrate that co's cancer platform can be utilized to generate a range of highly differentiable small molecule inhibitors for cancer with varying functions, molecular composition and potential therapeutic utility in diverse cancer indications. The data presented further show that CUDC-907 displays high exposure, a long half-life in tumor tissue and oral bioavailability in preclinical models, resulting in promising anti-proliferative and pro-apoptotic activity in hematologic cancer models.

8:06AM Monsanto beats by $0.03, reports revs in-line; reaffirms FY11 EPS guidance (MON) 73.60 : Reports Q2 (Feb) earnings of $1.87 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $1.84; revenues rose 6.1% year/year to $4.13 bln vs the $4.15 bln consensus. Co reaffirms guidance for FY11, sees EPS of $2.72-2.82, excluding non-recurring items, vs. $2.86 Thomson Reuters consensus; raises its FY11 free cash flow guidance to the range of $900 mln to $1.1 bln from $800-900 mln previously. In total, sales for Monsanto's Seeds and Genomics segment in Q2 increased 5%, driven by global unit volume growth and a mix upgrade in the United States. While it's early in the season, the co indicated sales are pacing to meet the mid-teens mlns of U.S. acres it had expected for both its Genuity Roundup Ready 2 Yield soybeans and the Genuity reduced refuge corn family this year. This brings a positive mix improvement across Monsanto's U.S. soybean and corn portfolios.

8:06AM On The Wires (WIRES) :

* Science Applications International (SAI) announced it was awarded a prime contract by the DOJ to provide a full range of IT services in support of numerous Federal agencies.
* HID Global and NXP Semiconductors N.V. (NXPI) announced that HID Global will integrate NXP's MIFARE technology into its multi-standard physical and logical access readers and software.
* Cardica (CRDC) announced that the U.S. Patent and Trademark Office has issued the company a Patent for its proprietary Microcutter technology. This patent relates to the articulation of a surgical stapler or endocutter.
* Houston METRO awarded Siemens (SI) a contract worth $83 mln to build and deliver nineteen S70 light rail vehicles including spare parts, training and manuals, marking Siemens' second order from Houston METRO, which will bring the total number of Siemens vehicles in Houston to 37.
* Complete Genomics (GNOM) announced that it has added 29 high-coverage, complete human genome sequences to its public genomic repository.
* Roche Diagnostics (RHHBY) is cooperating with the Spanish Vall d'Hebron Institute of Research, the Networking Biomedical Research Centre in Liver and Digestive Diseases and the software producer Advanced Biological Laboratories Therapy Edge Spain in a study designed to resolve the current limitations that prevent the individualization of anti-HBV and anti-HCV (hepatitis B and C) treatments. The project will utilize Roche's 454 Sequencing Systems and bioinformatics analysis, together with other genetic and molecular analytical techniques.

8:06AM Visa announces funding of litigation escrow account (V) 75.62 : Co announced that on March 31, 2011, it had deposited $400 million into the litigation escrow account previously established under retrospective responsibility plan. Under the terms of the Plan, the $400 million deposit has the effect of a repurchase of 5.42 mln shares of class A common stock at ~$73.81 per share, on an as-converted basis, by reducing the as-converted class B common stock share count from 125.25 mln to 119.83 mln. The deposit and price per share calculations were conducted in accordance with the certificate of incorporation using the volume-weighted average price over the 8-day pricing period from March 25, 2011, through April 5, 2011. As a result of the deposit, the conversion rate applicable to the Company's class B common stock has decreased from 0.5102 to 0.4881 as of March 31, 2011.

8:04AM Orchid Cellmark to be acquired by LabCorp (LH) for $2.80/share for a total purchase price to stockholders and optionholders of approximately $85.4 mln (ORCH) 2.01 : Laboratory Corp (LH) and Orchid Cellmark (ORCH) announce that they have entered into a definitive agreement and plan of merger under which LabCorp will acquire all of the outstanding shares of ORCH in a cash tender offer for $2.80 per share for a total purchase price to stockholders and optionholders of ~$85.4 mln. ORCH strengthens co's presence and strong brand name in identity testing in the US and establishes its presence in identity testing in the UK. (ORCH is halted)

8:02AM Seattle Genetics reports Brentuximab Vedotin data at EBMT annual meeting; Patients in co's pivotal Hodgkin lymphoma trial had all relapsed following autologous transplant, but none had received an allogeneic transplant (SGEN) 82.04 : Co announces that data from a case series of Hodgkin lymphoma patients receiving brentuximab vedotin (SGN-35) following allogeneic stem cell transplant were presented in an oral session at the European Group for Blood and Marrow Transplantation (EBMT) Annual Meeting in Paris, France. Brentuximab vedotin is an antibody-drug conjugate (ADC) directed to CD30, a defining marker of Hodgkin lymphoma. This is the first report of data from brentuximab vedotin in Hodgkin lymphoma patients who relapsed following allogeneic transplant. Patients in the company's pivotal Hodgkin lymphoma trial had all relapsed following autologous transplant, but none had received an allogeneic transplant.

8:01AM SinoHub confirms its policy is not to comment on unusual market activity (SIHI) 1.52 :

8:00AM Force Protection receives $46.6 mln award for delivery of 40 Buffalo vehicles (FRPT) 4.98 : Co announced that it has received contract M67854-11-C-5063 from the United States Marine Corps Systems Command with an approximate value of $46.6 mln.

7:46AM On The Wires (WIRES) :

* Tyler Technologies (TYL) has signed contracts with the Missouri cities of Washington and Jefferson City for Tyler's Incode local government software. The agreements include software licenses, maintenance, support and related professional services.
* Zix Corporation (ZIXI) was selected to provide email encryption services to Rush University Medical Center, a not-for-profit academic medical center in Chicago, in a new three-year contract. Email encryption enables secure email for 8,000 Rush users, including physicians, nurses, staff, students, faculty and researchers.
* Building on its plans to accelerate its software strategy, HP (HPQ) announced that it has signed a leasing agreement for Moffett Towers in Sunnyvale, Calif., to create a state-of-the-art software innovation center.

7:32AM On The Wires (WIRES) :

* NCI (NCIT) announced today that the Company has been awarded the Department of Justice Information Technology Support Services-4 (ITSS-4) Multiple Agency Contract. The ITSS-4 contract has a ceiling value of $1.1 billion with a projected contract term for placing orders covering a seven-year period - a base period through September 30, 2011 and 6 one-year option periods.
* Willis Europe BV, a division of Willis Group Holdings (WSH) announced the conclusion of a transaction whereby Willis South Africa has acquired 22.5% of the equity in Amabubesi Consulting Services, a specialist employee benefits consulting business.
* EMCOR Group (EME) announced that its J.C. Higgins subsidiary has been awarded a contract for the installation of the HVAC mechanical systems at the Sanofi-aventis Genomics Center in Cambridge, Massachusetts.
* LHC Group (LHCG) announced that it has entered into a home health and hospice joint venture with Helen Keller Hospital located in Muscle Shoals, Alabama, to provide home health and hospice services.
* KVH Industries (KVHI) announced the creation of a Brazilian subsidiary, KVH South America Comunicacao Por Satelite.

7:32AM MSC Industrial beats by $0.08, beats on revs; guides Q3 EPS above consensus, revs above consensus (MSM) 70.50 : Reports Q2 (Feb) earnings of $0.78 per share, $0.08 better than the Thomson Reuters consensus of $0.70; revenues rose 22.2% year/year to $483.4 mln vs the $475.7 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.90-0.94 vs. $0.82 Thomson Reuters consensus; sees Q3 revs of $524-536 mln vs. $506.22 mln Thomson Reuters consensus.

7:31AM Spirit Aerosystems to recognize first quarter charge on CH-53K Helicopter Development Program; 2011 EPS Guidance Unchanged (SPR) : Co announced it expects a pre-tax charge of ~$28 million, or $0.13 per share associated with the development effort on the CH-53K helicopter program. The additional costs associated with this change have resulted in a loss program for Spirit on the Systems Development and Demonstration (SDD) contract. Co expects to achieve its 2011 fully diluted earnings per share guidance of $1.70-1.90 vs. $1.82 Thomson Reuters consensus.

7:31AM Sirius XM Radio increases purchase price for its 3-1/4% Convertible Notes due 2011 (SIRI) 1.78 : Co announces that it has increased the purchase price offered in its tender offer for any and all of its outstanding 3-1/4% Convertible Notes due 2011 to $1,010 per $1,000 principal amount of Notes tendered, plus accrued and unpaid interest up to, but not including, the payment date of the Notes.

7:13AM The rally in precious metals continues this morning, with gold notching a new all-time high at $1462.10, while silver rallied to a fresh ~31 yr high at $39.71 (COMDX) :

* Gold now higher by $6.70 to $1459.20.
* Silver up 42.7 cents to $39.61.

7:10AM On The Wires (WIRES) :

* NetSol Technologies (NTWK) announced that it has signed a three-year, multimillion-dollar contract with TCS Private, Pakistan's leading express and logistics provider, to develop a customized operations management IT solution.
* ICF International (ICFI) has been awarded a new contract to support global energy efficiency for the U.S. Agency for International Development through the agency's Energy Efficiency for Clean Development Program. The five-year grant contract has a value of up to $10 million.
* Salix Pharmaceuticals (SLXP) announced that as of March 31, 2011 Lupin Ltd. granted Salix exclusive worldwide rights (except for India) to exploit Lupin technology and technology jointly developed by Lupin and Salix for all rifaximin products for human use. This agreement expands the collaboration that Salix and Lupin entered into as of September 30, 2009. The agreement covers the development and commercialization of rifaximin products and provides for Lupin to supply Salix with rifaximin active pharmaceutical ingredient and certain finished rifaximin products. Salix is required to make a $10 million up-front payment to Lupin along with potential U.S. regulatory milestone payments in respect of products covered by Lupin patents or jointly-held patents. Royalties at a percentage rate in the low teens will be payable by Salix to Lupin in respect of sales of products covered by Lupin patents or jointly-held patents.
* Spectranetics Corporation (SPNC) announced that the Japanese Ministry of Health, Labor and Welfare granted approval for the LLD lead locking device, which is used for the removal of pacemaker and defibrillator cardiac leads.
* Cambrios Technologies Corporation and Synaptics (SYNA) announced that they have entered into a Reference Design Partner Agreement.
* IRIS International (IRIS) has commenced the U.S. commercial activities with the shipment in March of its iChem Velocity Automated Urine Chemistry Analyzers in combination with its iRICELL Urinalysis Workstations to three U.S. hospitals.
* Rentrak Corporation (RENT) announced an expanded contract with National Geographic Channel to provide access for Nat Geo WILD and Nat Geo Mundo to Rentrak's TV Essentials national measurement currency in order to improve programming, sales and marketing strategies.

7:06AM AML Communications: Microsemi (MSCC) announces superior offer to Acquire AML Communications for $2.50 per share in cash (AMLJ) 2.11 : Microsemi Corporation announced that it has submitted a proposal to acquire AML Communications for $2.50 per share in an all-cash transaction. The total transaction value would be ~$28 million, net of AML Communications' projected cash balance at closing. AML Communications had previously entered into a definitive merger agreement with Anaren on February 14, 2011 whereby Anaren would acquire all of AML's outstanding shares of common stock for $2.15 per share in an all-cash transaction. As a result, AML Communications' Board of Directors has delivered a notice to Anaren of its intent to withdraw its recommendation of the current Anaren transaction to the AML Communications stockholders.

7:05AM Intercontinental Hotels Group to develop 19 new Holiday Inn Express hotels across India (IHG) 20.77 : IHG will invest through a 24% equity stake, making a multi-year investment of US$30 million into the partnership. This investment will go into a fund to support the building of the 19 hotels over the next five years. These 19 Holiday Inn Express hotels will add approximately 3,300 rooms to IHG's current India development pipeline of over 10,000 rooms (46 hotels) and are expected to be operational by 2016.

7:03AM Golden Minerals completes ~430 meters of development drifting at El Quevar at the 4,774 meter elevation, and has advanced ~200 meters along strike in the central Yaxtche zone (AUMN) 22.92 : The drifting has encountered over 40 mineralized structures believed to be tension faults. These structures trend to the north and east, averaging N60E, and are steeply dipping to the northwest. Co has also received results for an additional drill hole recently completed on the western trace of the ManiSub target, which is located approximately 500 meters southwest of the Yaxtche deposit. Drill hole QVD-237 contained an 18 meter intercept that averaged 192 grams per tonne silver, which included a two meter intercept of 583 grams per tonne silver.

7:03AM Pluristem Therapeutics to expand testing of PLX Cells for the treatment of radiation exposure (PSTI) 2.95 : Co announces that it has signed a collaborative agreement with the Hadassah University Medical Center to continue previously conducted animal study that indicates PLX cells are potentially effective in the treatment of radiation sickness. Co's preliminary study indicated that the administration of PLX cells following radiation exposure resulted in a significant improvement in the repopulation of cells of the haematopoietic system within the animal's bone marrow. Approximately five weeks after the injection of the cells of mice, a significant recovery of the animal's hematopoietic stem cells, which give rise to all the blood cell types, including the cells of the immune system, was noted. Additionally, co has found its PLX cells to be cytoprotective, which the co believes play a role in protecting bone marrow cells from the adverse effects of radiation exposure.

7:02AM Gran Tierra Energy Provides South America Operations Update; San Angel Exploration Well Encounters Gas Shows, Testing Initiated (GTE) 8.03 : Co announces a drilling and operations update in the Putumayo and Lower Magdalena Basins of Colombia, an acreage update in Argentina, and a general Corporate update. Drilling and logging of the San Angel-1 natural gas exploration well in the Magdalena Block of the Lower Magdalena Basin has been completed. Gas shows were encountered over two intervals totaling 415 feet (gross). Wireline logs and repeat formation tester data was not conclusive in quantifying reservoir quality or gas saturation. Testing operations have been initiated and are expected to be completed in late April, 2011... Gran Tierra Energy also announced it has successfully farmed out a 50% interest in its Santa Victoria block (2,091.5 km2 or 516, 815.3 acres) in the Noroeste Basin of northwestern Argentina to Apache Corp... Subsequent to closing the acquisition of Petrolifera Petroleum Ltd. ("Petrolifera") on March 18, 2011, company average production has been approximately 18,000 barrels of oil equivalent per day ("BOEPD"), net after royalty ("NAR"), weighted 95% to light oil. Oil production in Colombia has averaged approximately 15,000 barrels of oil per day ("BOPD") NAR, while oil production in Argentina has averaged approximately 2,300 BOPD NAR and gas production has averaged approximately 4 million standard cubic feet per day, or approximately 700 BOEPD.

7:02AM Arrowhead Research increases ownership in Ablaris to 64% (ARWR) 0.68 : Co announces that majority-owned subsidiary, Ablaris Therapeutics, has completed a second closing of its Series A financing round for gross proceeds of $1.2 million, with aggregate gross proceeds of $2.9 million to date. Arrowhead invested $1.3 million in the offering and holds a 64% stake in the obesity company post closing. Use of proceeds includes upfront licensing payments and expenses associated with preparation for a Phase I clinical trial, expected in the second half of 2011.

7:01AM Optimer Pharma and Cubist (CBST) to collaborate to co-promote DIFICID for CDI in the US (OPTR) 13.80 : Co and Cubist announced the signing of an exclusive two-year co-promotion agreement to market DIFICID, in the US. Co notes that on April 5, 2011, the FDA's Anti-Infective Drugs Advisory Committee voted unanimously that the clinical evidence submitted by Optimer demonstrated the safety and effectiveness of DIFICID for the treatment of CDI. FDA is expected to complete its review of DIFICID and deliver a decision on market approval by a PDUFA date of May 30, 2011. Under the terms of the agreement, OPTR and CBST will co-promote DIFICID to physicians, hospitals, long-term care facilities and other healthcare institutions in the US. OPTR and CBST will also jointly provide medical affairs support for the product. The agreement expires two years from the first commercial sale of DIFICID. "Optimer plans to hire 100 sales representatives to target the 1,100 hospitals, which comprise about 70% of U.S. hospital CDI cases."

6:50AM On The Wires (WIRES) :

* Transocean (RIG) senior management team, led by Chief Executive Officer Steven Newman, announced that they are voluntarily donating the safety bonuses that were awarded to them for 2010 to the Deepwater Horizon Memorial Fund.
* FutureFuel Corp. (FF) announced that it had elected Paul M. Manheim to the Company's board of directors.

6:30AM Fuel Systems Solutions to acquire NaturalDrive Partners, an alternative fuel automotive systems developer in North American, for $6 mln (FSYS) 28.80 :

6:27AM Sagent Tech commences IPO of 5 mln shares of common stock; estimated range is $14.00 to $16.00 (SGNT) :

6:18AM On The Wires (WIRES) :

* Volvo (VOLVY) Buses has received an order for 180 buses for public transport in New York City via its subsidiaries Prevost and Nova Bus.
* Accenture (ACN) has extended for four additional years its contract to provide RSA UK with insurance business process outsourcing services. Additionally, co announced the expansion of its global network of analytics innovation centers with the opening of a new center in Barcelona, Spain.
* Magic Software (MGIC) announced that, following its acquisition in January 2011 of a controlling share in its South African distributor, Magix Integration, it has taken up the option to acquire additional shares and thereby increase its holding in the company to 75%.
* Boeing (BA) reached a major milestone with long-time customer Air Algerie this week when it delivered the 50th Boeing jetliner to the North African carrier. Additionally, co delivered the first Next-Generation 737-800 to Algeria's Tassili Airlines, a fully owned subsidiary of Sonatrach, the state owned Algerian oil company. Tassili Airlines' primary mission is to transport employees of Sonatrach to and from its oilfields and bases.
* ADTRAN (ADTN) announced that Eastex Telephone has selected ADTRAN's Total Access 5000 Multi-Service Access and Aggregation Platform to deliver broadband services throughout its customer base of more than 30,000 subscribers.
* To further support its mission to change the way power is made, Green Mountain Energy (NRG) launched Pollution FreeSM EV, the first widely available 100 percent emissions-free Texas wind-powered product designed for drivers of plug-in electric and plug-in hybrid electric vehicles.
* Acacia Research (ACTG) announced that its Catheter Flushing subsidiary has entered into a license agreement with Smiths Medical ASD covering patents generally relating to the catheterization of patients using a guide wire and a flushing port.

6:04AM DISH Network agrees to acquire Blockbuster (BLOAQ) assets; winning bid was valued at ~$320 mln (DISH) 24.31 : Co announces that it was selected as the winning bidder in the bankruptcy court auction for substantially all of the assets of Blockbuster (BLOAQ). Co's winning bid was valued at ~$320 mln. After certain adjustments are made at closing of the transaction, including adjustments for available cash and inventory, co expects to pay ~$228 mln in cash to acquire Blockbuster at the closing which is expected to occur in the second quarter of 2011.

6:02AM Genpact to acquire Headstrong for $550 mln; expected to accelerate co's revenue growth and be EPS accretive in 2011 (G) 14.76 : Co announces that it has signed a definitive agreement to acquire Headstrong for cash consideration of $550 mln. Co expects the transaction to be accretive to earnings per share on a GAAP basis in 2011. The transaction is being funded by a combination of existing cash and acquisition financing, and is expected to close by May 31, 2011. Headstrong generated revenues of ~$217 mln in 2010 and co expects Headstrong's long-term growth rate to be in excess of 20% per year.

5:40AM On The Wires (WIRES) :

* NXP Semi (NXPI) announced it relocated automotive sales and marketing headquarters to Shanghai and established new automotive technical center in China. Additionally, co announced idOnDemand and NXPI will partner to bring smart card security to mobile device authentication.
* Caesars Entertainment announced that U.S. District Court Judge has dismissed all claims filed by the operators of Poetry nightclub against Caesars Palace, Simon Property Group (SPG) and associated defendants.
* Netflix (NFLX) and Lionsgate (LGF) announced a multiyear syndication deal in which Lionsgate has licensed the first four seasons of its Emmy Award-winning series "Mad Men" to be watched instantly by Netflix members starting July 27, with additional seasons being added annually after they complete airing on their respective seasons on the AMC network.
* BioTime (BTX) announced it has formed LifeMap Sciences in collaboration with XenneX. This will develop and commercialize a database of the thousands of cell lineages branching from embryonic stem cells, and their molecular markers.
* iPass (IPAS) announced that it has expanded the iPass Mobile Network in Poland with wireless connectivity in six airports, 45 hotels and over 60 cafes with its partnership with Polska Telefonia Cyfrowa.
* Shire (SHPGY) announced that its subsidiary has filed a lawsuit in the U.S. District Court for the Southern District of New York against Watson Pharmaceuticals (WPI) and its subsidiaries for infringement of Shire's U.S. Reissue Patents and also for breach of contract.
* Elbit Systems (ESLT) announced that it was awarded a contract to supply self-propelled artillery and accompanying systems to an African country. The contract, valued at ~$24 mln, will be performed over the next two years. This is the first contract announcement regarding Soltam Systems since its recent acquisition by Elbit Systems.

2:37AM NYSE Euronext reports gloabal derivatives avg daily volume of 9.2 mln contracts per day; +11.9% YoY (NYX) 39.98 : Co announces trading volumes for its global derivatives and cash equities exchanges for March 20111. Global derivatives average daily volume of 9.2 mln contracts traded per day in March 2011 increased 11.9% YoY. The increase in global derivatives ADV versus prior year levels was driven by a 22.8% increase in U.S. equity options ADV and a 3.2% increase in European Derivatives ADV. Cash equities ADV in March 2011 was mixed, with European cash ADV increasing 44.0% and U.S. cash trading volumes decreasing 2.1% YoY.

1:57AM Public Storage prices public offering of 13 mln 6.5% cumulative preferred shares of beneficial interest, Series Q at $25 per depositary share (PSA) 111.19 : The offering is expected to result in $325 mln of gross proceeds.

1:53AM Valeant Pharmaceuticals files preliminary consent solicitation statement with the SEC (VRX) 53.96 : Co announces that it has filed with the SEC a preliminary consent solicitation statement in connection with its solicitation of written consents from the Cephalon (CEPH) stockholders to remove each member of the Board of CEPH and elect seven new directors in their place. Co is going directly and immediately to CEPH stockholders by initiating its consent solicitation process. It is VRX's expectation that a new CEPH board would act in the best interests of CEPH stockholders and remove the impediments to a tender offer, such as the poison pill, and permit VRX to conduct a due diligence investigation.

1:47AM Intellipharmaceutics Intl provides additional update on activities related to 30mg generic version of Focalin XR; complaint has not yet been served upon the co (IPCI) 3.00 : Co announces that further to its press release issued on March 29, 2011, the co had become aware that Celgene (CELG), Novartis Pharmaceuticals, and Novartis Pharma AG (NVS), have filed a complaint against co for alleged patent infringement relating to its generic version of 30mg Focalin XR, the complaint has not yet been served upon the co. Previously, in similar litigation, co's development and commercialization partner for generic Focalin XR, NVS and CELG had filed a similar complaint in the same court for alleged patent infringement relating to co's and Par Pharmaceutical's development of 5mg, 10mg, 15mg and 20mg dosage strengths of Focalin XR. In view of the previous settlement related to these four dosage strengths, the co believes it is reasonable to expect that the litigation relating to the 30mg strength could also be settled on terms satisfactory to the co.

1:40AM Penn Virginia upsizes note offering by $50 mln and prices $300 mln of 7.25% senior notes due 2019 (PVA) 15.73 : Co intends to use a portion of the net proceeds from the Offering to fund its previously announced tender offer for any and all of its outstanding 4.50% Convertible Senior Subordinated Notes due 2012. Any remaining net proceeds from the Offering will be used to provide additional working capital for general corporate purposes.

1:36AM LECG Corp CEO and CFO resign (XPRT) 0.15 : Co announces Steve Samek resigned at President, CEO, and board member as well as Warren Barratt's resignation as EVP and CFO. Simultaneously, the firm announced the appointment of Bruce Rogoff as the new CEO and president and the sole director of the board. Rogoff is the President of The Staten Group, a national restructuring firm.

1:32AM Great Panther Silver files amendment to its annual information form; no changes to financial results (GPL) 4.12 : Co announces it has amended and refiled on SEDAR its Amended and Restated Annual Report on Form 20-F for the year ended December 31, 2010. The Annual Report has been amended to incorporate technical reports by reference and by including additional disclosure regarding directors, officers and experts, and audit committee qualifications. The restated Annual Report/20-F has no bearing or impact on the reported financial results.

1:23AM Medicis receives notice from FDA of NDA for generic Ziana (MRX) 34.09 : Co announces that on March 30, 2011, it received a Paragraph IV Patent Certification from Actavis Mid Atlantic, advising that Actavis has filed an Abbreviated New Drug Application with the FDA for a generic version of the co's product Ziana Gel. Actavis has not advised the co as to the timing or status of the FDA's review of its filing, or whether Actavis has complied with FDA requirements for proving bioequivalence. Actavis' Paragraph IV Patent Certification alleges that the co's U.S. Patents will not be infringed by Actavis' manufacture, use and/or sale of the product for which the ANDA was submitted. The co is evaluating the details of Actavis' certification letter and considering its options.

1:18AM China Armco Metals clarifies relationship between Usiminas and Mineracao Usiminas S.A. (CNAM) 2.44 : Co provides clarification of the description of Usiminas included in its March 17th, 2011 press release titled "Brazilian Steel Giant Inks Major Metal Distribution Agreement with China Armco." The co announced on March 17th, 2011 that it had delivered its first shipment of 150,000 metric tons of iron ore from Mineracao Usiminas S.A. The agreement is with Mineracao Usiminas SA, 70% owned by Usiminas, a vertically integrated steel producer based in Brazil, and 30% owned by Sumitomo Corporation, a global integrated conglomerate based in Japan. The original press release incorrectly stated that the agreement was with Usiminas. In addition, MUSA intends to export 1 mln MT of iron ore in 2011, not the 3 mln stated in the original press release.

1:12AM Oclaro: optical peers under pressure INFN, CIEN, OPLK, FNSR and JDSU (OCLR) 10.89 :
http://finance.yahoo.com/marketupdate/inplay