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Market Update: 110408
3:30 pm : Commodities closed out a strong week on a high note. The effort saw oil prices set a new two-year high, gold prices ascended to a record level, and silver prices set a 30-year best.

Specifically, gold gained 1.0% to settle pit trade at $1474.40 per ounce. It had been as high as 1476.20 per ounce, which marked its best level ever. Silver was up an even more impressive 2.7% to $40.62 per ounce, just shy of the 30-year high that it set at $40.65 per ounce earlier in the session.

Oil prices propelled to $112.79 per barrel, which made for a 2.3% gain. Prior to that, oil prices set a new two-year high of $112.88 per barrel.

Natural gas failed to follow the other commodities to higher ground. Rather, natural gas prices fell 0.4% to $4.04 per MMBtu. DJ30 -46.85 NASDAQ -19.67 SP500 -6.93 NASDAQ Adv/Vol/Dec 721/1.32 bln/1869 NYSE Adv/Vol/Dec 837/550 mln/2092

3:00 pm : Stocks have drifted deeper into negative territory. Although that has taken both the S&P 500 and the Nasdaq Composite to fresh session lows, the Dow has yet to confirm the move.

Selling interest has broadened in the past hour of trade. Initially only a few sectors were showing losses, but now all 10 major sectors are in the red. Financials are in the worst shape as they slide to a 1.1% loss. Energy has managed to limit its loss to just 0.1%.DJ30 -82.04 NASDAQ -23.74 SP500 -9.69 NASDAQ Adv/Vol/Dec 835/1.14 bln/1733 NYSE Adv/Vol/Dec 949/480 mln/1964

2:30 pm : The S&P 500 and the Nasdaq Composite have both eased down to session lows. Still, overall losses are only modest.

Without any market moving headlines or other catalysts to invoke action among traders, participation remains unimpressive. Low-share volume has been a consistent theme in recent weeks. DJ30 -33.22 NASDAQ -11.59 SP500 -4.05 NASDAQ Adv/Vol/Dec 959/1.02 bln/1605 NYSE Adv/Vol/Dec 1105/435 mln/1808

2:00 pm : Listless trade continues to keep the stock market clinging closely to the neutral line. Such has also been the case for most of the past several sessions. That is why the S&P 500 is on pace to conclude the week in line with where it started.

Although action among stocks remains boring, Treasuries continue to endure selling pressure, which lifted the yield on the benchmark 10-year Note towards 3.60% this morning. That made for a new one-month high.

The dollar's doldrums against the euro also continue, despite a recent request from Portugal for foreign financial aid following a series of sovereign debt downgrades. The euro hit a 15-month high this morning; it was last quoted with a 1.0% gain at $1.443.

The dollar's drop has helped bolster commodities, which continue to climb. As such, the GS Commodity Index is up 1.9%. DJ30 -15.25 NASDAQ -5.68 SP500 -1.70 NASDAQ Adv/Vol/Dec 966/970 mln/1563 NYSE Adv/Vol/Dec 1141/400 mln/1736

1:30 pm : The overall market remains mired at the flat line. Two of its most influential sectors are on exact opposite sides of todays action.

Financials, frequently a leader for the overall market, are currently down 0.6%. The sector has lagged all session as bank stocks drift lower.

In contrast, energy stocks are up 0.5%. Drillers like Nabors (NBR 31.80, +1.30) and Helmerich & Payne (HP 69.55, +2.05) have helped prop up the sector. The pair's strength comes amid an analyst upgrade. DJ30 -18.43 NASDAQ -5.03 SP500 -1.59 NASDAQ Adv/Vol/Dec 971/895 mln/1566 NYSE Adv/Vol/Dec 1157/374 mln/1713

1:05 pm : Listless trade continues keep the stock market flat ahead of earnings season. The lack of action today is consistent with that of the past few sessions.

An absence of major economic releases and corporate headlines of consequence left morning traders to take their cues from overseas markets, which put together strong gains in their final session of the week. However, broad market buying interest quickly waned.

Although stocks continue to struggle to sustain gains, sellers haven't been engaged in any kind of concerted effort. That has kept stocks confined to a narrow trading range near the neutral line.

The market's insipidity comes after stocks spent the final two weeks of March climbing almost 7% from monthly lows, often resilient in the face of negative headlines. The S&P 500 has spent the past week butting up against resistance along the 1340 line ahead of earnings season, which gets its unofficial start when Dow component Alcoa (AA 18.01, -0.11) posts its latest quarterly report Monday evening.

Although overall action remains mundane, there have been a few movers worth mention. Expedia (EXPE 25.05, +2.65) has been an especially strong performer following the firm's decision to split into two separate entities. Its near 12% surge makes for the strongest move of any S&P 500 member.

Stocks may be struggling to find direction, but commodities continue to climb at an impressive clip. An insatiable appetite for natural resources took oil prices to a new two-year high above $112 per barrel while gold prices hit a new record high above $1470 per ounce and silver set a 30-year high above $40 per ounce.DJ30 -19.86 NASDAQ -6.02 SP500 -1.84 NASDAQ Adv/Vol/Dec 1031/825 mln/1485 NYSE Adv/Vol/Dec 1210/345 mln/1650

12:30 pm : Stocks continue to hug the neutral line as they approach the midpoint of today's trade. The sideways crawl has left stocks on track for a flat week -- prior to the open the S&P 500 had eked out a weekly gain of less than 0.1%. Lackluster action this week is largely owed to a lack of leadership. Such is also the case this session.DJ30 -10.67 NASDAQ -3.75 SP500 -0.70 NASDAQ Adv/Vol/Dec 1004/748 mln/1500 NYSE Adv/Vol/Dec 1219/315 mln/1610

12:00 pm : BJ's Wholesale (BJ 50.21, +0.83) reported yesterday that same-store sales for March increased by more than 5%, which is greater than what had been widely expected. Although it finished off of its session high, the stock was able to put together a solid gain yesterday. Today it has added to that advance with help from an analyst upgrade at Goldman Sachs.

In contrast, Costco (COST 76.92, -0.90) is under considerable pressure after analysts at Goldman Sachs downgraded the stock. Costco actually reported yesterday a stronger-than-expected 13% increase in same-store sales for March. That news helped the stock score a record high in the prior session.DJ30 -10.40 NASDAQ -2.70 SP500 -0.26 NASDAQ Adv/Vol/Dec 1042/680 mln/1430 NYSE Adv/Vol/Dec 1240/284 mln/1553

11:30 am : All three of the headline indices have drifted down to a slight loss. Underlying weakness is largely limited, though.

Shares of Expedia (EXPE 24.74, +2.34) continue to sport the best gains of any stock in the S&P 500. Their heady move follows news that the company will split into two separate entities. Although the stock's 10% surge this session puts shares at a one-month high, the stock is still 16% below its 52-week high.

Shares of Travelzoo (TZOO 76.00, +1.25) and Orbitz (OWW 3.47, +0.04) have both shared in the strength resulting from Expedia's announcement. DJ30 -20.89 NASDAQ -6.42 SP500 -1.48 NASDAQ Adv/Vol/Dec 957/588 mln/1463 NYSE Adv/Vol/Dec 1136/245 mln/1641

11:00 am : The lackluster action of the past week precedes earnings season, which gets its unofficial start when Dow component Alcoa (AA 18.08, -0.04) gets things going with its latest quarterly report. Wall Street has forecast earnings of $0.27 per share for the quarter. Alcoa has either met or exceeded the consensus estimate in each of the past four quarters.

Anticipation ahead of the aluminum giant's report helped its shares hit a new two-year high earlier this morning. The stock has since pulled back so that it actually lags the broad market by a narrow margin. DJ30 -16.16 NASDAQ -2.16 SP500 -0.14 NASDAQ Adv/Vol/Dec 1147/464 mln/1243 NYSE Adv/Vol/Dec 1394/195 mln/1334

10:35 am : Weakness in the dollar index this morning is providing price support in most commodities. Crude, gold and silver have been trading higher all session.

May crude oil trended higher this morning until hitting current session highs of $111.90/barrel. It has since pulled back and is now at $111.34/barrel, up 0.9%

Mauy natural gas has been volatile this morning. Just before the open of pit trading, it sold off, but quickly erased those losses and is now back just above the unchanged line.

Precious metals have been steadily higher in today's session. June gold is currently up 0.8% at $1470.70/ounce, while May silver is 1.7% higher at $40.22/ounce.

In the ag space, grains should see more than average volatility today after the USDA released its April supply/demand report this morning. Global corn inventory levels declined, but U.S. levels remained unchanged, which were below street expectations. Corn, wheat and soybeans all spiked higher at the open of pit trade. Corn and wheat moved into positive territory, but pulled back slightly. Soybeans spike and remains higher, near session highs. May corn is -4.5 cents at $7.545, May wheat is -3.25 centrs at $7.70 and May soybeans are +10 cents aty $13.735.DJ30 -3.89 NASDAQ -2.74 SP500 -0.14 NASDAQ Adv/Vol/Dec 1352/325.7 mln/1005 NYSE Adv/Vol/Dec 1598/146.7 mln/1090

10:00 am : The major equity averages are sitting just above the neutral line after buying ahead of the open gave stocks a positive start. The slip back towards the flat line is consistent with the action seen earlier this week.

Wholesale inventories for February were just released. They increased by 1.0%, which is spot on with what economists polled by Briefing.com had predicted. Inventories for the prior month had increased by a very similar 1.1%.

Advancing Sectors: Energy (+0.7%), Materials (+0.6%), Health Care (+0.5%), Utilities (+0.1%), Consumer Discretionary (+0.1%)
Unchanged: Industrials, Telecom, Consumer Staples
Declining Sectors: Tech (-0.1%), Financials (-0.1%)DJ30 +10.26 NASDAQ +2.40 SP500 +2.29 NASDAQ Adv/Vol/Dec 1419/133 mln/774 NYSE Adv/Vol/Dec 1882/81 mln/721

09:45 am : Support for stocks has moderated in the first few minutes of trade, causing the major equity averages to give back some of their opening gains. The early pullback has impacted almost every major sector, except health care and energy. They are up 0.5% and 0.7%, respectively.

Treasuries are still under pressure. As a result of renewed selling interest, the yield on the benchmark 10-year Note set a new one-month high near 3.60% this morning. DJ30 +22.78 NASDAQ +8.12 SP500 +3.74 NASDAQ Adv/Vol/Dec 1342/39 mln/729 NYSE Adv/Vol/Dec 1813/36 mln/344

09:15 am : S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +7.40. Stock futures point to a positive start to the final session of the week. The key question, though, is whether stocks can sustain the bid after finishing flat for the past several sessions -- the S&P 500 is up less than 0.1% week to date. Should stocks sustain their premarket gains, it could be telling of underlying sentiment, especially in the absence of meaningful economic data and corporate headlines of major consequence. Despite the lackluster action surrounding stocks, commodities continue to climb. As such, the CRB Commodity Index is up 1.3% for the week. Underpinning that move is a 2.7% rise in oil prices, which actually set a new two-year high of nearly $112 per barrel overnight. Precious metals have also put on a show. So far this week there has been a 2.6% increase in gold prices, which set a new record high overnight of $1474.50 per ounce. Silver prices set a 30-year high of about $40.31 per ounce overnight and are up 4.5% for the week.

09:05 am : S&P futures vs fair value: +4.70. Nasdaq futures vs fair value: +6.70. Commodities continue to benefit from strong buying interest. As a result, crude oil prices are up 1.1% to $111.52 per barrel in early pit trade. The energy component actually extended its two-year high to almost $112 per barrel in overnight trade. Gold prices pushed their record highs to $1474.50 per ounce. The yellow metal was last quoted with a 0.8% gain at $1470.80 per ounce. Silver is up an even more impressive 1.7% to $40.22 per ounce. It set a new 30-year high of about $40.31 per ounce overnight.

08:35 am : S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +7.70. Europe's major bourses are all up with impressive gains. That has helped take the EuroStoxx 50 advace to a 0.5% gain, although it is still shy of its prior session high. Germany's DAX is up 0.6%. The country's trade balance for February came in at 12.1 billion euros, which is greater than the 10.1 billion euros that was recorded for January. The increase was helped by a 2.7% increase in exports after they had fallen 1.0% in January. Imports were up 3.7% in February after a 2.3% increase in January. France's CAC has climbed to a 0.9% gain on the back of broad-based buying, which has put all 40 of the CAC's components in positive territory. The Bank of France cut its first quarter growth forecast to a 0.7% increase from a 0.8% increase. The Business Sentiment reading for March from the Bank of France came in at 110, unchanged from the prior month. Busines Britain's FTSE is currently up 1.0%. The United Kindom Producer Price Index Output NSA for March increased by 0.9% after a 0.5% increase in February. Europe's primary currency, the euro, continues to climb. Its latest advance has taken it to a 15-month high against the greenback; it was last quoted with a 0.8% gain at $1.44.

Although the dollar is down against the euro, it is up 0.4% against the yen. A weaker yen likely helped traders in Japan take in stride news of another earthquake in the country. Japan's Nikkei actually surged 1.9%. Embattled Tokyo Electric Power came rallying back from recent beatdowns to score a 24% gain. Fast Retailing also outperformed. Its 7% spike is owed to a strong forecast. Toyota Motor (TM) announced that it has decided to produce vehicles at all of its facilities in Japan from April 18 to April 27, but that production volume is planned to be about half of normal volume. Hong Kong's Hang Seng put together a 0.5% gain. China's Shanghai Composite closed 0.7% higher. China reported that its first quarter business climate measurement came in at 133.8, which is down from the 138.0 that had been scored in the prior quarter.

08:05 am : S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +6.90. Stocks endured relatively volatile trade yesterday, but they still finished the session flat. Buying interest has picked up this morning, though. The positive tone has been helped along by strong performances among overseas markets. Confirmation that damages from the latest earthquake to hit Japan aren't as severe as that of last month's massive quake have also encouraged traders who had initially treated reports with caution. There isn't any consequential data on tap for today and corporate news has been limited to a handful of headlines. Among the more notable news stories, Expedia (EXPE) announced that it will split into two companies. That has sent its shares up about 15% in premarket trade. Meanwhile, shares of Hercules Offshore (HERO) are down about 11% ahead of the open in response to reports that the company received a subpoena from the Securities Exchange Commission.

06:49 am : [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +4.70.

06:49 am : Nikkei...9768.08...+177.20...+1.90%. Hang Seng...24396.07...+114.30...+0.50%.

06:49 am : FTSE...6054.45...+47.10...+0.80%. DAX...7218.50...+39.70...+0.60%.
http://finance.yahoo.com/marketupdate/update

3:55PM Dow -20 bounces 65 points off low -- S&P -4.4, Nasdaq Comp -14 (DIA) :

2:59PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Corn Hits New All-Time Record of $7.6925/bushel (COMDX) : May corn futures rose 9 cents to $7.68/bu, May wheat rose 24.25 cents (or +3.2%) to close at $7.975, May soybeans rose 29 cents (or 2.2%) to close at $13.925, May ethanol closed higher by 0.026 cents at $2.69, while May world sugar futures closed down 0.84 cents to 25.66 cents.

2:57PM Dow -81 joins S&P -9.6 and Nasdaq Comp -23 at new session/weekly lows (DIA) :

2:50PM S&P -7.8 and Nasdaq Comp -20 set new lows for the session/week -- Dow -68 (SPY) :

2:46PM Puda Coal announces that it is currently reviewing the allegations regarding improper share transactions by co's Chairman, Mr. Ming Zhao, which were published on an investor website on April 8, 2011 (PUDA) 6.49 -2.61 : Co intends to provide a formal response to the allegations as soon as practical.

2:46PM NYMEX Energy Closing Prices (COMDX) : Crude oil rallied for $2.49 to settle at $112.79, natural gas fell 1.6 cents to close at $4.041, heating oil gained 11.37 cents to finish at $3.3197, while RBOB gasoline ended up 7.42 cents to $3.2607 (all May contracts).

2:39PM Nasdaq Comp -15 extends afternoon slide to new low near this week's trough at 2778 -- session low 2779 (QQQ) : New session lows for Dow -47 and S&P -5.3 but they remain above Thursday's lows.

2:36PM Deckers Outdoor drops 1.2% to new low over last 20 minutes on pickup in volume (DECK) 89.10 -1.05 :

2:25PM Insituform Tech received a one-year renewal of its existing term contract with the City of Richmond, Virginia (INSU) 26.81 +0.23 : Co received a one-year renewal of its existing term contract with the City of Richmond, Virginia. This extension, valued at up to $8 million, is the fourth year of a five-year renewable contract. Including this latest extension, the total value of this multi-year project is approximately $20.0 million to date.

2:16PM Stock indices slip slightly under midday range lows -- Dow -27, S&P -3.4, Nasdaq Comp -8.8 (SPY) :

2:07PM Rubicon Minerals updates delineation drill results from the F2 core zone, Phoenix Gold Project, Red Lake, Ontario (RBY) 5.75 +0.12 : Co provides an update on its underground delineation drill program being carried out on part of the F2 Core Zone, at its 100%-owned Phoenix Gold Project located in the heart of the prolific Red Lake Gold District of Ontario. A total of 16,000 metres of the planned 27,000-metre delineation drill program has been completed. The delineation drilling will test a total area of 150 metre (horizontal) x 200 metre (vertical) area within the F2 Core Zone. The delineation drill results presented are from an ongoing four drill fence program covering approximately 90 metres of strike length and are focused within +/-100 metres of the 305 metre level. In addition, Rubicon is carrying out approximately 40,000 metres of exploration drilling to continue to expand and infill the F2 Gold System.

2:01PM Arabian American Developmnt announces audit committee realignment (ARSD) 4.02 -0.05 : Co announced that it realigned the audit committee of the board of directors to regain compliance with the Listing Rules of the Nasdaq Stock Market. Co previously appointed John R. Townsend to serve on the audit committee which maintains the requirement of three members. The audit committee now consists of Townsend (Chair), Mohammed Al Omair and Allen McKee. The Board has also determined that McKee meets the Securities and Exchange Commission criteria of an audit committee financial expert.

1:33PM COMEX Metals Closing Prices (COMDX) : June gold rallied for $15.10 to close at $1474.40. Earlier in the session gold traded to a fresh all-time high at $1476.20. May silver finished higher by $1.063 to $40.615. Silver put in fresh ~31 yr highs at $40.645. May copper ended up 9 cents to $4.5065.

1:29PM New highs for crude oil at $112.56; now higher by $2.20 to $112.50 (COMDX) :

1:29PM Commercial Vehicle Group announces financing transactions (CVGI) 17.73 -0.04 : Co announced today a series of financing transactions designed to refinance substantially all of its existing indebtedness. These transactions include: proposed private offering of new senior secured notes, the proceeds of which the Company intends to use primarily to repay all of the amounts currently outstanding under its existing second lien term loan, 8% Senior Notes due 2013and 11%/13% Third Lien Senior Secured Notes due 2013 and for general corporate and working capital purposes. An expected amendment and restatement of its existing revolving credit facility that will, among other things, increase the revolving credit commitment from $37.5 mln to $40.0 mln, extend the maturity of the facility to three years after the date of closing, remove the availability block, reduce the interest rate by 0.50%, increase flexibility to make investments and permit the financing transactions.

1:26PM Commercial Vehicle Group announces private offering of $225 million of senior secured notes due 2019 (CVGI) 17.73 -0.05 : Co intends to use the net proceeds from the offering primarily to repay all of the amounts currently outstanding under its existing second lien term loan, 11%/13% Third Lien Senior Secured Notes due 2013 and 8% Senior Notes due 2013 and for general corporate and working capital purposes.

1:22PM New highs for silver at $40.645; now up $1.063 to $40.615 (COMDX) :

12:58PM S&P -2.7 and Nasdaq Comp -7.3 set new lows, Dow -25 just fractionally above its low (SPY) : Relative sector weakness in recent action has been noted in Semi SMH, Finance XLF, Housing XHB, Computer-Hardware, Disk Drive, Solar TAN, Rail, Discretionary XLY.

12:52PM New highs for crude at $112.17; now up $1.81 to $112.11 (COMDX) :

12:42PM Sears Hldg announces Amended Agreement that increases the borrowing capacity of the facility to $3.275 billion from $2.441 billion and extends its maturity date to April 7, 2016 from June 12, 2012 (SHLD) 79.08 -0.77 : The Amended Agreement also revises certain terms of the credit facility. The amended facility's interest rates will vary based on leverage in the range of LIBOR plus 2.0% to 2.5% (previously LIBOR plus 4.0% with a 1.75% LIBOR floor). Commitment fees have also been reduced to a range of 0.375% to 0.625% based on usage from the previous range of 0.75% to 1.00%.

12:19PM Huntington Banc issues statement to customers on potential federal government shutdown (HBAN) 6.79 -0.01 : "Huntington has reviewed potential impacts that may arise if a shutdown of the Federal government occurs and expects to continue business operations as usual, offering financial services to its wide range of customers, which includes consumers, businesses, non-profits and municipalities... If we have customers who are impacted, we will work closely with them to address their specific situations."

11:35AM Chevron working back toward morning peak at 109.83, its 52-wk high from Wednesday is at 109.94 (CVX) 109.79 +0.85 :

11:34AM Leucadia Nat'l agrees to purchase $125 million of the common stock of Jefferies Group ( EF) as part of a $500 million common stock offering announced by Jefferies on April 7, 2011 (LUK) 37.42 +0.06 :

11:23AM FedEx extends steep intraday slide to 91.92, holding modestly above its 50 ema/sma at 91.74/91.52 (FDX) 91.95 -1.96 :

11:17AM Neptune Technologies announce that Bayer (BAYRY) Healthcare Consumer Care Division has formally launched its Arctic Wonder proprietary Neptune Krill Oil in the United States in March 2011 after a successful market test (NEPT) 2.50 +0.00 :

11:16AM Corn and wheat moved into positive territory on USDA report; corn is back near new all-time highs hit overnight of $7.68/bu (See 08:35 and 10:50 comments) (COMDX) : May corn is currently trading +4 cents at $7.63/bu, May wheat is +6.75 cents at $7.80/bu and May soybeans are +24.5 cents (or +1.8%) at 3.88/bu

11:03AM Relative Sector Weakness as stock indices slide to new low -- Dow -21, S&P -1.3, Nasdaq Comp -5.7 (SPY) : Underperforming the S&P on this decline are: Transports IYT/Airline FAA, Semi SMH, Retail, Reg Bank KRE, Materials XLB, Oil Service OIH, Industrial XLI, Housing XHB.

10:59AM Calumet Specialty Products increases quarterly cash distribution to $0.475 per unit from $0.47 per unit (CLMT) 21.09 0.00 :

10:53AM Dow -10 sets new low, S&P +0.2 and Nasdaq Comp -1.6 have not confirmed yet but hovering near lows (SPY) :

10:50AM Corn and wheat slightly lower after pit trading opens on the CME following USDA report; soybeans higher (see 08:35 comment) (COMDX) : After grain pits opened, corn and wheat initially spike into postive territory following the USDA report, but pulled back and are slightly lower; soybeans spiked and remain near session highs. May corn is currently -3 cents at $7.56/bu, May wheat is -2.25 cents at $7.71/bu and May soybeans are +16 cents (+1.2%) at $13.795, just off session highs of $13.8425/bu.

10:50AM Kroger reports it will no longer sell shark, marlin and bluefin tuna (KR) 23.95 -0.16 : Co has set a 2015 goal of sourcing 100% of its top 20 wild-caught species from sources that are certified by Marine Stewardship Council, in full assessment, or involved in a Fishery Improvement Project with World Wildlife Fund.

10:20AM Nasdaq Comp -1.4 and S&P +1 slip to minor new lows, Dow +0.6 has not confirmed yet but is just above its morning trough (QQQ) :

10:17AM iShares DJ Real Estate flirting with 50 sma and this week's low at 58.73/58.62-- session low 58.69 (IYR) 58.76 -0.13 : MAC -0.9%, BXP -0.6%, SPG -0.6%, PSA -0.5%, EQR -0.4%, PCL -0.4%, VNO -0.3%, AIV -0.3%, CPT -0.2%, KIM -0.2%.

10:15AM Guggenheim Airline ETF extends early downside pressure (FAA) : AMR -3.1% (broke last Aug trough to set new 52-wk low), DAL -3.7% (new 52-wk low), UAL -4.6% (new 7 month low), LUV -0.8%, LCC -1.9%, ALK -1.7%, RJET -1.6%, JBLU -3.4%, SKYW -1.1%.

10:11AM Biolase Technology to raise ~$1.80 mln from institutional investors at $5.60 per share (BLTI) 5.60 0.00 : Co has executed an agreement for the sale of 320,000 shares of its common stock at $5.60 per share to institutional investors in a registered direct offering for approximately $1.80 million in gross proceeds. The offering is expected to close on or before April 11, 2011, subject to customary closing conditions. The proceeds will be used for general corporate purposes. Rodman & Renshaw acted as the exclusive placement agent for the offering.

10:09AM Financial Select Sector displaying some intraday relative weakness as it slips slightly into the red after a firmer open (XLF) 16.60 -0.02 : JPM -0.7%, BAC -0.3%, BK -0.6%, MS -0.3%, USB -0.2%, WFC -0.3%, AFL -0.6%, ALL -0.3%.

10:05AM Opening Point Gainers/Losers (TECHX) : Point Gainers: TPX (+7.12), AGQ (+6.52), EXPE (+2.85), BAS (+2.80), APA (+2.36), CLF (+2.53), WLT (+2.17), BHP (+2.20), HP (+2.33), GOLD (+2.12), PXD (+2.07)

Point Losers: YZC (-1.72), SCOK (-1.36), CLX (-1.19), PUDA (-1.09), SPR (-1.10), BKE (-1.10), HNR (-1.13), FDX (-0.96), RGA (-0.86), EDU (-1.01), AAPL (-0.88)

10:01AM General Dynamics awarded DoJ contract with maximum value to all awardees of $1.1 bln over seven years if all options exercised (GD) 74.94 -0.01 : Through the contract, General Dynamics will provide systems development lifecycle support for the Department of Justice's IT systems and equipment.

9:53AM Firmer start for stock indices but not enough momentum to break above short term range tops -- Dow +10, S&P +2.3, Nasdaq Comp +2.8 (SPY) :

9:52AM Currency Chart Watch: Aggressive Euro/Yen advance extended (TECHX) : (Click for daily chart).

9:47AM Mkt Vectors Gold Miners ETF displays relative strength in early trade, vacillating near its 52-wk close high from Dec at 63.80 (GDX) 63.71 +1.20 : The 52-wk intraday high from Dec does not come into play until 64.62 -- AEM, NEM, ABX, AU, FCX, GFI, GG, HMY, KGC, BVN, AUY, EGO.

9:44AM SPDR Homebuilders gaps up, slightly penetrates its 11 month high from Feb at 18.78 and pauses -- session high 18.82 (XHB) 18.77 +0.16 : LEN +0.8%, MDC +0.8%, MTH +0.3%, SPF +0.5%, TOL +0.7%, DHI +0.3%, KBH +0.9%, NVR +0.7%, MHK +0.8%.

9:35AM Jefferies Group commences an underwritten public offering the Corporation's senior notes (JEF) 24.70 -0.01 : The offering is being underwritten by Jefferies & Company, Inc., the broker-dealer subsidiary of Jefferies Group, Inc.

9:32AM Solid start for stock indices with S&P +5.8 testing its five day range top/congestion area at 1339/1340 -- Dow +40, Nasdaq Comp +11 (SPY) :

9:30AM Globecomm Systems has acquired ComSource; transaction is anticipated to be immediately accretive (GCOM) 12.91 -0.09 : The initial purchase price is $20.0 mln, funded through $2.0 mln of existing cash and $18.0 mln through the existing credit facility with Citibank. ComSource may receive up to $21.0 mln of additional consideration, through a two-year earn-out, based on reaching certain earnings milestones. ComSource had unaudited revenues of ~$22.7 mln for the year ended December 31, 2010. The transaction is anticipated to be immediately accretive excluding the impact of amortization of intangibles relating to the transaction, and excluding the non-recurring charge for acquisition costs. ComSource's primary customer is a Tier 1 global telecommunications company and has a high concentration of recurring service revenue that complements one-time equipment sales.

9:28AM Kingold Jewelry announces that it will be opening a new showroom and distribution center, totaling roughly 16,000 square feet, in Shenzhen, China's jewelry hub, on April 16, 2011 (KGJI) 2.05 :

9:25AM SearchMedia receives notice from NYSE for failure to conduct annual shareholder meeting; provides update on insider stock purchase activity since Sep 2010; inside ownership has increased by ~ 180,370 shares purchased in the open market, at an average price of $2.07 (IDI) 1.58 :

9:23AM Companhia Vale do Rio agreed to acquire the total share capital of Metorex for the amount of 7.35 ZAR per share; totaling ZAR 7,524 mln on a fully diluted basis, and equivalent to US$1.125 bln (VALE) 33.67 : "The proposed acquisition is consistent with our goal to become one of the largest copper producers in the world. Moreover, the majority of Metorex assets are located near two of our Central African copper projects - Konkola North under development in Zambia and Kalumines under feasibility study in the DRC - which will enable Vale to exploit synergies. Currently, we are developing the first phase of the Salobo copper mine in the Carajas mineral province in the state of Para, Brazil, with an annual nominal capacity of 100,000 metric tons of copper in concentrates. Given our portfolio, comprised by copper operations and projects in Carajas, the operations in Canada and Chile and the enlarged growth platform in the African copperbelt, we expect to create significant shareholder value."

9:08AM Hi-Tech Pharmacal receives tentative approval for Brimonidine Tartrate with Timolol Maleate Ophthalmic solution (HITK) 24.58 : Co announces that the US Food and Drug Administration granted tentative approval for the Company's Abbreviated New Drug Application for brimonidine tartrate with timolol maleate ophthalmic solution, the generic for Allergan's Combigan(R) ophthalmic solution which had sales of $108 million for the 12 months ended December 2010 according to IMS sales data. The product is indicated for the reduction of elevated intraocular pressure. The Company filed Paragraph IV certifications against the brand's Orange Book listed patents and litigation related to the patents is ongoing. Hi-Tech plans to launch the product after the Company receives final approval from the FDA.

9:06AM Overstock.com confirms it cut Arkansas marketing ties after Governor signs unconstitutional internet sales tax bill (OSTK) 15.51 :

9:05AM Sangamo BioSci prices of its previously announced public offering of 6.7 mln shares of its common stock at a price to the public of $7.70 per share (SGMO) 8.36 :

9:04AM Navios Maritime Partners prices its follow-on public offering of 4 mln common units, which represent limited partnership interests, at $19.68 per unit (NMM) 20.67 :

9:03AM On The Wires (WIRES) :

* PokerTek (PTEK) announced that the Croatian Lottery has selected PokerPro tables as their preferred electronic poker solution after a successful field trial. Three PokerPro tables were installed for the trial in October 2010, and have now been accepted by the Lottery.
* Magnum Hunter Resources Corporation (MHR) announced that its wholly-owned subsidiary, Triad Hunter, has executed a definitive agreement and closed on the acquisition of oil and gas properties and leasehold mineral interests located in Wetzel County, West Virginia for a cash purchase price of $20.0 Million.
* StemCells (STEM) announced that it has discontinued its Phase Ib clinical trial in neuronal ceroid lipofuscinosis, a rare and fatal neurodegenerative disorder in children, due to lack of patient accrual.
* Raytheon Technical Services, a subsidiary of Raytheon (RTN), has received a one-year extension to its contract with the National Science Foundation in support of the U.S. Antarctic Program. The award is worth ~$157 mln through March 31, 2012.

9:02AM Fuwei Films files administrative lawsuit in connection with anti-dumping duties (FFHL) 4.09 : Co announces that it has filed an administrative lawsuit with United States Court of International Trade in connection with anti-dumping duties imposed pursuant to the first administrative review issued by the U.S. Department of Commerce on March 18, 2011. On March 25, 2011, Fuwei received a favorable ruling from the Court of International Trade regarding its Motion for a Preliminary Injunction. Pursuant to this ruling, prior to the final arbitration decision of the Court of International Trade, Fuwei and its US customers will not be subject to anti-dumping duties for the PET films they exported to US during the period of November 6, 2008 to December 31, 2009 as stipulated by the first administrative review.

9:01AM Opnext lowers Q4 rev guidance below consensus due to Japan distruptions (OPXT) 2.48 : Co lowers Q4 rev guidance to $95.3 mln from $97-102 mln vs $99.41 mln Thomson Reuters consensus; the shortfall in expected revs from the co's earlier guidance is attributable to a ten-day interruption in the co's module manufacturing operations in Japan following the earthquake and tsunami on March 11, 2011. Opnext's module assembly facility in Totsuka, Japan suffered minor disruption as a result of the March 11 earthquake and, while shipments of subassemblies to contract manufacturers and shipments of finished goods to customers from inventory each resumed on March 18, 2011, production at this facility was not reinstated until March 21, 2011. The co's chip production facility in Totsuka suffered minor damage which has been repaired and the co is in the process of recalibrating and verifying the proper operation of the equipment at this facility prior to restarting full production, which is expected to resume by the end of April 2011. Opnext's industrial and commercial production facility located in Komoro, Japan was undamaged and production at this facility resumed shortly following the earthquake. The Komoro facility is also being used to process pre-existing wafers from the Totsuka chip production facility pending full restoration of the Totsuka facility. Opnext also continues to work with its suppliers affected by the earthquake and tsunami and related subsequent events to address component availability and, in certain instances, the co is exploring alternative sources of supply. In addition, Opnext continues to be impacted by the planned power outages in the Totsuka area and the co is in the process of installing backup power capability to permit continuous operation.

8:57AM On The Wires (WIRES) :

* China Yida Holding (CNYD) announced that its China Yang-sheng Tourism Project was praised and supported by Jiangxi Government.
* Impax Laboratories (IPXL) announced that it will collaborate with Banner Pharmacaps Inc. with respect to the supply and commercialization of two softgel capsule products.
* Uroplasty (UPI) announced that NHIC will cover posterior tibial nerve stimulation using Uroplasty's Urgent PC Neuromodulation System for the treatment of overactive bladder and associated symptoms, effective May 22, 2011.
* inContact (SAAS) announced that an expanding U.S. based outsourcer has selected the inContact solution to better serve its growing energy industry clientele.
* Amgen (AMGN) announced the expansion of its operations in Brazil, including the acquisition of Bergamo, a privately-held Brazilian pharmaceutical company.

8:56AM ARMOUR Residential REIT prices 16 mln shares at $7.40 (ARR) 7.66 : The co intends to use the net proceeds of the offering to acquire additional target assets in accordance with its investment objectives and strategies.

8:54AM SunLink Health Systems and Foundation HealthCare Affiliates announce prelim agreement and letter of intent for non-cash merger; co to acquire HealthCare with ~1.56 mln co common shares and other securities (SSY) 1.50 : SunLink Health Systems announced that it has reached a preliminary agreement and executed a letter of intent with Foundation HealthCare Affiliates and New Age Fuel and Foundation Investment Affiliates I for the non-cash merger of certain Foundation and New Age, FIA, subsidiaries and affiliates with and into newly formed acquisition subsidiaries of SunLink. The merger consideration to be issued by SunLink to the owners and affiliates of Foundation and New Age will consist of approximately 1,560,000 SunLink common shares, approximately 133,000 shares of SunLink's non-voting cumulative 5% Series A Preferred Stock, liquidation value $100.00 per share; approximately 277,000 shares of SunLink's non-voting non-cumulative 4% Series B Preferred Stock, liquidation value $100.00 per share; and 3,000,000 Series A Warrants each of which will entitle the holder for three years to buy one SunLink common share at an exercise price of $6.00. In connection with the mergers, it is contemplated that SunLink will declare a stock dividend, issuing to its existing holders of common shares, approximately 133,600 shares of its Series A Preferred Stock, approximately 79,900 shares of its Series B Preferred Stock, and 3,000,000 Series B Warrants each of which will entitle the holder for three years to buy one SunLink common share at an exercise price of $6.50.

8:37AM Allied Nevada reports preliminary first quarter 2011 sales of 21,241 ounces of gold and 59,383 ounces of silver; in-line with guidance (ANV) 39.28 :

8:33AM Corning to maintain production levels at its Shizuoka and Sakai City LCD glass facilities during Sharp Corporation's temporary production curtailment of LCD panels (GLW) 20.20 : "The decision by Sharp has no impact on our Corning Gorilla Glass operations in Japan. Demand for Gorilla Glass continues to be very strong."

8:30AM Granite Constr awarded $59 million interstate reconstruction project in Northern California; co books the project into its first quarter 2011 backlog. (GVA) 27.66 :

8:26AM Jefferies Group announces that its underwritten public offering of common stock was priced at $24.25 per share (JEF) 24.71 : The offering included a total of 20,618,557 shares of Jefferies' common stock with net proceeds of $490,000,007.

8:17AM Tortoise Capital reports Q1 EPS of $0.12 vs $0.56 Thomson Reuters consensus (TTO) 9.24 : Assuming the sale of International Resource Partners LP closes in the expected timeframe, the company anticipates paying a distribution of not less than $0.10 per share, per quarter, for the remainder of fiscal 2011.

8:15AM Investment Tech releases March 2011 US trading volumes; reports ADV of 178 mln shares down 4.8% MoM (ITG) 18.47 : Co announces March 2011 US trading volume was 4.1 bln shares and average daily volume (ADV) was 178 mln shares. This compares to 3.6 billion shares and ADV of 187 mln shares in February 2011 and 3.7 bln shares and ADV of 162 mln shares in March 2010. There were 23 trading days in both March 2011 and March 2010, and 19 trading days in February 2011.

8:05AM ScanSource announces definitive agreement to acquire Brazil's AIDC/POS distributor, CDC Brasil (SCSC) 37.44 : Co enters into a definitive purchase agreement with CDC Brasil, S.A., Brazil's leading distributor of AIDC and point-of-sale solutions. CDC Brasil is a value-added distributor that sells only to resellers and offers many of the same industry-leading products that ScanSource, Inc. provides.

8:04AM Qiao Xing expecting to file its 2010 financial results earlier than prior years; announces CFO resigns (XING) 2.22 : Co is currently expecting to file its 2010 financial results in May 2010, which is earlier than the Company reported its annual financial results in recent prior years... XING recently appointed Luo Zhaoyang as Financial Controller to strengthen its accounting department. Also today, XING announced that its Chief Financial Officer, Jiang Aijun, resigned as the Company's CFO effective immediately. The Company is seeking a new CFO to replace Mr. Jiang.

8:02AM ScanSource announced Q1 sales in the range of $608-617 mln, Thomson Reuters consensus $644 mln (SCSC) 37.44 : Today's release reflects ScanSource's normal reporting practice whereby quarterly sales results are disclosed in a release at a practicable date soon after quarter-end. At this reporting interval, ScanSource does not comment on gross margin, the mix of its sales by business unit, or any other information that would be necessary to draw conclusions regarding net income and earnings per share.

8:02AM Watson Pharm confirms Alcon's (ACL) Vigamox patent challenge (WPI) 57.92 : Co confirms that its subsidiary, Watson Laboratories filed an Abbreviated New Drug Application with the FDA seeking approval to market Moxifloxacin Hydrochloride Ophthalmic Solution USP, 0.5%. Co's Moxifloxacin Hydrochloride Ophthalmic Solution USP, 0.5% is a generic version of Alcon (ACL) Vigamox. For the twelve months ending February 28, 2011, Vigamox had total U.S. sales of ~$281 mln according to IMS Health data.

8:01AM SinoHub reaffirms FY11 rev guidance for $255.00 mln vs $253.61 mln Thomson Reuters consensus, as well as its target of producing and selling 3 million mobile phones for 2011 (SIHI) 1.70 : Co says it has thus far not seen any significant impact on its business as a result of the recent earthquake in Japan and, as such, reaffirms its 2011 rev guidance for $255.00 mln vs $253.61 mln Thomson Reuters consensus, as well as its target of producing and selling 3 million mobile phones for 2011, representing year-over-year growth of 160% in terms of handsets sold. SinoHub does not expect it will require further equity financing for the foreseeable future... Co also announced that it has added three substantial new mobile phone design houses as supply chain management customers, namely, Tianlong Shenzhen, Gaophone Shanghai and Henzong Hong Kong. These new customers are expected to generate additional profits for the electronic sales and services business segment. Transactions with these new customers will strengthen the Company's robust database of information available to support electronic component purchasing in its ECSS and integrated contract manufacturing business segments.

8:00AM Antares Pharma announces FDA acceptance of Anturol NDA for filing (AIS) 1.70 : Co announces the NDA for Anturol Gel in patients with overactive bladder (OAB) was accepted for filing for review by the FDA. The Anturol NDA submission is supported by data from a Phase 3 randomized, double-blind, placebo-controlled clinical trial involving 600 patients with OAB. In the 12-week study, patients treated with Anturol 56 mg daily or 84 mg daily experienced a significant decrease in OAB symptoms versus placebo, including the number of urinary incontinence episodes per day. Anturol was well tolerated in the study with no reported serious treatment-related adverse events. Anticholinergic side effects such as dry mouth and constipation were low and no increase in CNS side effects was seen compared to placebo.

7:33AM Merge Healthcare appoints Cheryl Whitaker as first Chief Medical Officer (MRGE) 4.84 :

7:31AM AeroVironment: NRG Energy (NRG) selects AeroVironment to expand eVgosm electric vehicle charging 'ecosystem' to Dallas/Fort Worth Area (AVAV) 29.98 -0.13 : In addition to supplying, installing and supporting smart home and public charging stations, AeroVironment will also provide the integrated data collection, communication and analysis systems that will power NRG's eVgo network. NRG Energy plans to install a total of 70 Freedom Stations in the DFW area by the end of 2012, 35 of which are scheduled for installation by the end of 2011. Freedom Stations comprise one EVSE-CS and one EV50-PS, a DC fast charging system that can fully recharge an EV in minutes. The eVgo charging network will give DFW's EV drivers ready access to charging stations along major freeways, in key shopping and business districts, at popular retailers and in multi-family community and workplace parking areas.

7:31AM Spirit Aerosystems commences secondary offering of 10,307,375 shares of the co's class A common stock by existing shareholders (SPR) 25.14 : CO announces that certain of its equity holders, primarily affiliates of Onex Corp, have commenced a public secondary offering of 10,307,375 shares of the co's class A common stock. Morgan Stanley is acting as underwriter for the offering. The co will not receive any proceeds from the offering.

7:11AM Commodities, including crude oil, gold, and silver, are well higher this morning; being helped higher by weakness in the dollar (COMDX) :

* May crude oil currently higher by $1.52 to $111.82 (overnight highs at $111.90)
* June gold up $13.20 to $1472.50 (overnight, and new all-time highs, at $1474.50)
* May silver now up 68.8 cents to $40.24 (overnight, and fresh ~31 yr highs, at $40.305)

7:00AM Fuel-Tech announced receipt of multiple air pollution control orders totaling $4.5 mln; two orders were received for projects in China (FTEK) 8.66 :

6:57AM Seadrill Ltd confirms ultra-deepwater contract in Mexico estimated at ~$850 mln over 5 years (SDRL) 35.89 : Co through its affiliate Sea Dragon de Mexico settled the final agreement with Pemex Exploracion y Produccionfor the provision of the ultra-deepwater semi-submersible drilling rig West Pegasus. The five-year assignment in Mexico has a fixed operating dayrate for the first two years, and the dayrate will be adjusted annually thereafter based on market conditions. Estimated contract value is ~$850 mln assuming a constant dayrate over the five year term.

6:56AM Golar LNG Partners prices 12.0 mln share IPO at $22.50, above the $20-22 expected range (GMLP) :

6:55AM Cephalon recommends shareholders reject Valeant (VRX) nominees (CEPH) 76.51 : Co, in a preliminary consent revocation statement filed with the SEC that its Board has recommended that shareholders reject Valeant Pharmaceuticals (VRX) proposals to remove and replace co's current Board and not deliver any consent solicitation cards to VRX. On April 5, 2011, the Board rejected VRX's unsolicited proposal to purchase the co for $73 per share, concluding that the non-binding proposal is inadequate and not in the best interests of shareholders.

6:31AM Copa Holdings' consolidated traffic for March grows 21.2%; ASM grew 24%, RPM grew 21% (YoY) (CPA) 54.06 : Beginning with this traffic release, co will no longer report ASM, RPM and Load Factor on a monthly basis separately for Copa Airlines and Copa Airlines Colombia.

6:24AM On The Wires (WIRES) :

* Integra LifeSciences Holdings Corporation (IART) announced that it has opened a new facility in Medina, Ohio, to house its growing spinal implant business.
* Acacia Research Corporation (ACTG) announced that its Greenlight Technologies LLC subsidiary has entered into a license agreement with Pass & Seymour, Inc. and The Wattstopper, Inc. The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.
* Caterpillar (CAT) and Shaanxi Fast Gear announced they have signed an agreement to form a JV that will manufacture drivetrain systems and other complex components for Caterpillar machinery and produce a full line of on-highway automatic transmissions.
* A number community colleges across the country have joined forces with Ashford University to offer graduates an opportunity to pursue a four-year degree. In alignment with Ashford, an academic institution owned by Bridgepoint Education (BPI), these community colleges can offer a direct transition for their two-year students to a four-year program. Students may transfer up to 90 credits toward a bachelor's degree at Ashford.

6:06AM Harvest Natural provides Q1 operational update; Petrodelta drilled and completed 4 wells and produced ~28,700 barrels of oil per day (HNR) 15.71 : Co provides an operational update of its first quarter domestic and international exploration and production activity. During the three months ended March 31, 2011, Petrodelta produced ~2.6 MMBO for a daily average of 28,700 BOPD, an increase of 32% over the same period in 2010. Petrodelta's production target for the year 2011 is projected to be ~36,000 BOPD. The 2011 Petrodelta capital budget is expected to be ~$224 mln.

6:04AM Nat'l Technical Systems makes statement on resignation of Jack Lin from Board (NTSC) 7.42 : Co states: "We regret that Jack Lin, a former long-time CEO and Chairman of the Board of NTS, and his group are attempting to take certain actions that we believe would not be in the best interests of the Company and all of its shareholders. Transitioning a company from one generation of management to the next is challenging. The Company has made repeated attempts and invested substantial energy and resources to preserve a positive relationship with Dr. Lin, unfortunately those efforts have been unsuccessful. The Board of Directors and management strongly believe that NTS is strategically positioned to increase its dominance in its industry, and are committed to executing management's plan to maximize shareholder value."

6:02AM Regis reports Q3 same store sales of -2.3%; sees Q3 revs below consensus (RGS) 18.91 : Co reports Q3 total same-store sales decreased 2.3%. Co issues downside guidance for Q3 (Mar), sees Q3 (Mar) revs of $581.23 mln vs. $585.57 mln Thomson Reuters consensus. "Our monthly same-store sales throughout the third quarter were choppy. Customer visitation trends in the month of January were adversely impacted by cold weather and snow. In addition, the late Easter season this year resulted in a shift in holiday traffic from late March to mid-April which impacted our consolidated third quarter same-store sales by about thirty basis points. We expect our fourth quarter will benefit by a similar amount."

3:58AM On The Wires (WIRES) :

* ATP Oil & Gas (ATPG) announced that it has received a permit to complete the previously drilled #2 well at Green Canyon Block 300 in the deepwater Gulf of Mexico.
* Walt Disney (DIS) and Shanghai Shendi Group, its JV partner in China, have broken ground on the Shanghai Disney Resort following approval from the Chinese central government in Beijing.
* Teck Resources (TCK) announced that employees at its Elkview operation in southeast British Columbia have ratified a new five-year agreement, replacing an agreement which expired on October 31, 2010.
* Regeneron Pharmaceuticals (REGN) and Bayer HealthCare (BAYRY) announced that they have initiated the first of two Phase 3 clinical trials evaluating the efficacy and safety of VEGF Trap-Eye, an investigational new agent for the treatment of certain eye diseases, in the treatment of Diabetic Macular Edema.
* LDK Solar (LDK) announced a business investment of ~$40 mln to establish a new manufacturing plant in Nanchang City, Jiangxi Province.

3:31AM NIDEC to enter into a corporate split transaction with a subsidiary (NJ) 20.51 : Co announces its Board determined will transfer a portion of its management function relating to a subsidiary to Nidec Shimpo through an absorption-type corporate split transaction with the transaction expected to become effective on July 1, 2011. This is part of co's efforts to achieve the goals set forth in the current mid- to long-term growth strategy, "Vision 2015," in which co aims to create a group of companies with a target sales level of YEN2 trln in the fiscal year ending March 31, 2016.

3:28AM Gold Fields reports 1Q11 production in line with guidance (GFI) 18.15 : Co announces that attributable Group production for the Q1 is expected to be ~830,000oz, which is 5% higher than for the corresponding quarter a year ago. As expected production is lower than that achieved in the previous quarter (900,000 ounces), almost entirely due to the customary Christmas break in South Africa, when all mines close for two weeks. The guidance of between 3.5-3.7 mln ounces for the full year 2011. The higher year-on-year quarterly production is due to improvements at both the South African and international operations. Total cash costs and notional cash expenditure are expected to be ~$750/oz and $1,090/oz respectively, and the NCE margin for the Group is expected to be ~21%.

3:24AM United Micro reports March sales of NT$9,585,283; +1.11% YoY; +6.41 sequentially (UMC) 2.84 :

2:18AM CGGVeritas provides its vessel utilization update for Q1; 3D vessels allocated 94% to contract and 6% to multi-client programs (CGV) 35.63 : Co provides its vessel utilization and its fleet allocation updates for the first quarter of 2011. Vessel utilization for the first quarter 2011: The vessel availability rate was 81% vs 84% availability rate in the 4Q10 and a 90% rate in the 1Q10. The vessel production rate was 80% vs 92% production rate in the 4Q10 and a 92% rate in the 1Q10. During the Q1, 3D vessels were allocated 94% to contract and 6% to multi-client programs. Additionally, co states: "Following very strong seasonal sales in the fourth quarter of 2010, multi-client sales were low this quarter."

1:34AM Catalyst Health Solutions prices 5.5 mln shares at $53 per share (CHSI) 53.90 : Co announces successful pricing of its public offering of 5.5 mln shares of common stock, consisting of 4.5 mln shares to be sold by the co and 1 mln shares to be sold by one of its stockholders, Principal Holding, at a price of $53.00 per share. The co expects to use the net proceeds received from this offering to fund a portion of the purchase price for the previously announced acquisition of Walgreens Health Initiatives. If the acquisition is not completed, the co will use the proceeds received from this offering for general corporate purposes.

1:26AM Allegiant Travel reports Mar Traffic; provides outlook on metrics (ALGT) 42.73 : Co reports traffice metrics for March: Passengers +4.8% YoY; Revenue passenger miles +3.4% YoY; Load factor +1.2pts YoY; Average stage length (miles) -1.0% YoY. March 2011 estimated RASM change of 18.1-18.5% YoY; March 2011 estimated TRASM change of 16.3-16.7% YoY. For co's capacity guidance, co sees:

* April 2011 Scheduled: Departures (2)%; ASMs (2)%
* 2Q11 System: Departures (4)-0%; ASMs (4)-0%; Scheduled: Departures (5)-(1)%; ASMs (6) -(2)%
* 3Q11 System: Departures (4) - 0%; ASMs (4)-0%; Scheduled: Departures (8)-(4)%; ASMs (6)-(2)%

1:23AM Elster prices secondary offering of 16 mln ADSs by majority shareholders at $15 per ADS (ELT) 15.25 : Co will not receive any proceeds from this secondary offering. This reduces majority holder, Rembrandt Holdings interest in co to 63.8%.

1:19AM Basic Energy Services reports select operating data for March; rig count remained constant at 412 (BAS) 24.14 : Co reports selected operating data for the month of March 2011. Co's well servicing rig count remained constant at 412 as of March 31, 2011. Well servicing rig hours for the month were 72,900 producing a rig utilization rate of 70%, an increase from 59% MoM and 53% YoY. During the month, co's fluid service truck count increased by six to 830 as of March 31, 2011, as a result of adding 16 trucks offset by ten retirements. Fluid service truck hours for the month of March 2011 were 180,000, an increase from 147,400 MoM and 151,400 YoY. Drilling rig days for the month of March 2011 were 185, producing a rig utilization of 99%, essentially flat with February 2011 and an increase from 88% in March 2010.

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