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Market Update: 110608

4:30 pm : Pessimism continues to prevail. In turn, the major equity averages settled with various losses in the latest round of trade.

This session's slide marks an extension of the selling interest that has governed broad market trade in recent weeks. Economic growth remains the primary point of concern among market participants.

The lack of encouraging comments from Fed Chairman Bernanke was widely blamed for the prior session's late slide. Selling interest carried over amid word that the World Bank cut its forecast for 2011 economic growth to 3.2% from 3.8%. On that very topic, Germany and France, the two largest economies in Europe, both reported sharp declines in their respective total trade balances for April. Meanwhile, the Fed's latest Beige Book indicated that economic activity generally continued to expand since the last report, but a few Districts experienced some deceleration.

Warnings from analysts at Moody's that the United Kingdom's AAA credit rating could take a hit added to the dreariness of the day's headlines, but helped the greenback garner support from currency traders. The Dollar Index was up about 0.5% at the end of the trading day. It is still down more than 6% this year, though.

Despite the dollar's strength, oil prices spiked from a morning loss to a gain of more than 2%. The energy component closed pit trade with a 1.7% gain at $100.74 per barrel. Oil's climb came in response to OPEC's decision to leave production targets unchanged. A surprisingly large draw in weekly oil inventories helped support oil's move higher.

Higher oil prices helped energy stocks trade with strength this session, although its gains waned into the close. As a group, energy stocks were up more than 1% at their session high, but they settled with a 0.4% gain.

Financials and tech stocks came to be the heaviest drags on broad market trade. Financials fell 0.9% while tech turned in a 0.8% loss. Widespread weakness among tech issues undercut the Nasdaq Composite, which trailed its counterparts for just about the entire session. Ciena (CIEN 20.29, -3.92) was one of the poorest performing issues among tech-related plays; its precipitous drop to a multi-month low came in response to an earnings miss and downside guidance. Weakness in the tech space has also led the Nasdaq Composite to underperform its counterparts today.

With stocks stuck in a funk, Treasuries continued their ascent. Buying in the space drove down the yield on the benchmark 10-year Note to a new 2011 low near 2.95%. Today's auction of 10-year Notes drew a bid-to-cover of 3.23, dollar demand of $67.8 billion, and an indirect bidder participation rate of 50.6%.

Advancing Sectors: Energy (+0.4%), Telecom (+0.2%), Utilities (+0.1%), Health Care (+0.1%)
Unchanged: Consumer Staples
Declining Sectors: Materials (-1.0%), Financials (-0.9%), Tech (-0.8%), Consumer Discretionary (-0.8%), Industrials (-0.8%)DJ30 -21.87 NASDAQ -26.18 NQ100 -0.7% R2K -1.2% SP400 -1.0% SP500 -5.38 NASDAQ Adv/Vol/Dec 679/2.09 bln/1920 NYSE Adv/Vol/Dec 784/1.01 bln/2217

3:30 pm : July crude oil settled higher by 1.7% to $100.74 per barrel. Today's gains were driven by news that OPEC had disbanded its meeting with no adjustment being made to their output production level. Heading into the meeting this week, there was heavy speculation that the cartel would raise that level, the only question was how much. Inventory data, also released today, helped crude push to its best levels at $101.89. July natural gas finished up 0.3% to $4.85 per MMBtu.

It was a somewhat uneventful session for precious metals, which spent most of the day chopping around the flat line. Both metals pushed higher in morning trade in the wake of crude oil's surge, but eventually moved back toward the flat line. August gold finished lower by 0.3% to $1539.40 per ounce, while July silver ended down 0.9% to $36.72 per ounce. DJ30 -42.84 NASDAQ -30.11 SP500 -7.07 NASDAQ Adv/Vol/Dec 734/1.6 bln/1828 NYSE Adv/Vol/Dec 909/709.6 mln/2076

3:00 pm : Stocks have managed to move up from session lows as they head into the final hour of today's trade. Overall action remains unimpressive, though.

Financials have become a burden for the broad market after they traded with moderate strength this morning. The sector was last quoted with a 0.7% loss as shares of specialized finance plays come under stiff pressure. DJ30 +0.26 NASDAQ -20.96 SP500 -2.45 NASDAQ Adv/Vol/Dec 750/1.47 bln/1802 NYSE Adv/Vol/Dec 1011/605 mln/1963

2:30 pm : Stocks are sitting near session lows, but the dollar has managed to stretch a little higher so that it now leads a collection of competing currencies by 0.5%.

Meanwhile, Treasuries continue to sport solid gains. An auction today of 10-year Notes saw fairly modest demand as it drew the second lowest dollar-demand total for the past six sales. Specifically, the auction drew a bid-to-cover of 3.23, dollar demand of $67.8 billion, and an indirect bidder participation rate of 50.6%. For comparison, the prior auction drew a bid-to-cover of 3.00, dollar demand of $72.0 billion, and an indirect bidder participation rate of 42.7%. An average of the past six auctions results in a bid-to-cover of 3.15, dollar demand if $69.3 billion, and an indirect bidder rate of 51.2%. DJ30 -23.65 NASDAQ -24.93 SP500 -4.96 NASDAQ Adv/Vol/Dec 736/1.33 bln/1817 NYSE Adv/Vol/Dec 924/535 mln/2038

2:00 pm : Stocks recently descended to fresh session lows. The move took the Nasdaq to a loss of almost 1%, but the Dow continues to limit its loss. The disparity between the two averages comes as tech stocks drag down the Nasdaq while integrated energy giants Exxon Mobil (XOM 81.15, +1.15) and Chevron (CVX 100.33, +0.86) provide support to the Dow.

The Fed just released its latest Beige Book. It indicated that economic activity generally continued to expand since the last report, though a few Districts indicated some deceleration. Some slowing in the pace of growth was noted in the New York, Philadelphia, Atlanta, and Chicago. Manufacturing activity continued to expand in most parts of the country. DJ30 -23.08 NASDAQ -26.28 SP500 -4.83 NASDAQ Adv/Vol/Dec 747/1.20 bln/1783 NYSE Adv/Vol/Dec 930/480 mln/2031

1:30 pm : The Dollar Index has held steady to a 0.4% gain today. Most of its strength is owed to a drop by the euro, which was last quoted with a 0.6% loss at $1.460. Weakness in the euro comes in the wake of word from the World Bank that economic growth in many European countries remains constrained and data that indicate declining trade balances in both Germany and France. Britain's sterling pound is also down today; it was last quoted with a 0.2% loss at $1.640 following a warning from analysts at Moody's that the United Kingdom's AAA credit rating could take a hit.DJ30 +4.69 NASDAQ -16.52 SP500 -1.34 NASDAQ Adv/Vol/Dec 857/1.09 bln/1640 NYSE Adv/Vol/Dec 1082/430 mln/1870

1:00 pm : Trade has been choppy all session. The lack of direction comes amid ongoing concerns about economic growth and renewed weakness among several major overseas markets.

Following the prior session's weak finish, which came after Fed Chairman Bernanke failed to offer encouraging commentary about the pace of economic growth, most overseas markets moved lower. News that World Bank has cut its 2011 economic growth forecast by 60 basis points to 3.2% gave creedence to concerns over the recovery. Accordingly, both Germany and France reported drops in their respective total trade balances during April.

The uninspiring headlines haven't done too much damage to stocks, though. That's likely because stocks have already suffered in recent sessions, leaving them to extend five straight weekly losses.

Energy stocks have been a source of broad market support, however. The sector is up 1.2% in conjunction with higher oil prices, which are up a heady 2.6% to $101.65 per barrel following news that OPEC will not make any changes to production targets in the near term. News of a greater-than-expected draw in weekly inventories has helped keep prices propped up.

Tech stocks have cut their losses, collectively, but the sector continues to be a relative drag on broad market trade. Its 0.4% loss has been led by Ciena (CIEN 20.56, -3.65), which has dropped precipitously following the firm's earnings miss and downside guidance. Weakness in the tech space has also led the Nasdaq Composite to underperform its counterparts today.

Meanwhile, shares of blue chip McDonald's (MCD 81.39, +0.25) have rallied back from an opening loss. The company announced that its global sales grew by 3.1% during May. Action in competitor Yum! Brands (YUM 54.16, +0.01) has been more mixed.

Amid the market's generally chop, Treasuries have continued to attract buying interest. In turn, the yield on the benchmark 10-year Note is down to a 2011 low -- it was last quoted at 2.96%. Results from an auction of 10-year Notes are due at any moment.

The only item on the economic calendar is the Fed's latest Beige Book. It will be posted at 2:00 PM ET.DJ30 +16.61 NASDAQ -11.51 SP500 +0.61 NASDAQ Adv/Vol/Dec 851/998 mln/1619 NYSE Adv/Vol/Dec 1043/395 mln/1893

12:30 pm : Energy stocks sprinted out to a gain of about 1.5% this morning, but the sector has since surrendered some of that. It now trades with a 0.9% gain for the day. The sector's pullback comes despite a spike in oil prices following news that OPEC will make no change to production and data that indicate the latest weekly inventory report had a greater-than-expected draw. Oil now trades with a 2.6% gain at $101.65 per barrel after it had been in the red this morning.

The energy sector continues to attract support from the likes of Occidental Petroleum (OXY 103.16, +2.16) and Range Resources (RRC 54.10, +1.14). Apache (APA 120.30, +2.40) is also a top performer. Halliburton (HAL 47.73, -0.37) and Hess (HES 74.38, -0.15) have been weak, however. DJ30 +3.44 NASDAQ -15.19 SP500 -1.22 NASDAQ Adv/Vol/Dec 905/910 mln/1564 NYSE Adv/Vol/Dec 1081/350 mln/1843

12:00 pm : The dollar index is back at its best levels of the session, pushing to 73.95. Strength in the greenback corresponds to the euro slipping back towards its worst levels of the session. The single currency currently trades 1.4575 as markets wait on further developments regarding a Greek restructuring/re-profiling. It should be noted that Greek CDS spreads hit a record 1474 bps this morning as European authorities attempt to kick the can further down the road.

Meanwhile, the pound currently hovers 20 pips above its worst levels of the day near 1.6350 with its 50-day moving average continuing to provide support in the vicinity. Both the European Central Bank and Bank of England will opine tomorrow and announce their interest rate decisions.

Outside of Europe, the yen lingers below 80.00 per dollar after breaching that level last night, and the inability to recapture that level in short order will be problematic as Japan attempts to recover from the recent natural disasters. A move back towards the March record of 76.46 will have the Bank of Japan and Ministry of Finance on high alert.

The Australian dollar has slipped back below its 50-day moving average, trading down close to 100 pips near 1.0620. The level serves as critical support with a breakdown leading to a possible retest of 1.02. DJ30 +3.67 NASDAQ -11.93 SP500 -0.65 NASDAQ Adv/Vol/Dec 799/787.8 mln/1616 NYSE Adv/Vol/Dec 902/309.9 mln/1976

11:30 am : The major market averages are lower with the Nasdaq leading the decline, down 0.6%. Losses in the S&P and Dow are more muted with both trading just fractionally below the flat line.

Shares of McDonald's (MCD 81.21, +0.07) have rebounded from this morning's gap lower, now trading up 0.2% after the company announced May global sales grew at 3.1%. The company said sales in Asia/Pacific, Middle East, and Africa saw the strongest growth, climbing 4.3%. Competitor Yum! Brands (YUM 53.90, -0.25) has failed to piggyback the news.DJ30 -11.09 NASDAQ -16.95 SP500 -2.38 NASDAQ Adv/Vol/Dec 816/663.6 mln/1575 NYSE Adv/Vol/Dec 987/265.8 mln/1849

10:55 am : Stocks have fought off a recent flurry of selling pressure, but they continue to trade in mixed fashion overall. Unlike its counterparts, the Nasdaq Composite has been unable to poke into positive territory. Its relative weakness comes as tech plays like Akamai (AKAM 30.79, -0.58) and NVIDIA (NVDA 17.84, -0.22) encounter concerted selling. General weakness among tech issues has the sector down 0.4%, which is actually about half of the loss that it had traded with while at its session low.DJ30 +9.69 NASDAQ -7.12 SP500 +0.46 NASDAQ Adv/Vol/Dec 727/460 mln/1611 NYSE Adv/Vol/Dec 923/195 mln/1863

10:35 am : Crude surged following OPEC's meeting, which concluded with no deal to boost oil supply, and rose over $2/barrel to new session highs of $101.30/barrel. Then ahead of inventory data, crude oil was trading around $100.70/barrel. Following the data, which showed a draw of 4.84 million barrels versus consensus which called for a draw of 1.4 mln barrels, crude sees a mixed reaction after initially popping higher. Crude is currently up 1.6% at $100.65/barrel.

Natural gas has been in the red all session and is currently down 0.3% at $4.81. However, natural gas is 15.6% higher from where it was on May 19.

Strength in the dollar index, which is up 0.3% at 73.77, is helping keep precious metals in negative territory this morning. Gold moved back up to the unchanged line just under an hour ago, but is now 0.3% lower at $1538.70/oz. Silver is down 1.3% at $36.58/oz.DJ30 -0.98 NASDAQ -11.99 SP500 -1.31 NASDAQ Adv/Vol/Dec 786/360.2 mln/1523 NYSE Adv/Vol/Dec 998/149.7 mln/1764

10:00 am : After dancing near the neutral line in the first few minutes of the session, stocks have started to slide. The dip hasn't been too deep, though; in fact, the Dow is now down with only a narrow loss.

Tech stocks, which collectively represent the largest sector by market weight, are suffering the most. As a group tech stocks are down 0.7%. Ciena (CIEN 21.19, -3.02) is one of the worst performers in the tech space following the firm's earnings miss and downside guidance. DJ30 -16.31 NASDAQ -15.74 SP500 -3.46 NASDAQ Adv/Vol/Dec 625/180 mln/1524 NYSE Adv/Vol/Dec 866/80 mln/1848

09:45 am : The major equity averages are mixed in the first few minutes of morning trade, but energy stocks are off to a strong start. The energy sector's sprint ahead to a 1.5% gain comes after oil prices rallied from a modest loss in early pit trade to a 1.7% gain at $100.75 per barrel in response to word that OPEC will not make a move at its current meeting. Weekly oil inventory data are due at 10:30 AM ET.DJ30 +6.02 NASDAQ -3.82 SP500 +1.05

09:15 am : S&P futures vs fair value: -3.90. Nasdaq futures vs fair value: -6.30. Stock futures have steadily improved their position with the approach of the open, but the cash market is still expected to start with a moderate loss. Weakness comes amid ongoing concerns about economic growth after Fed Chairman Bernanke failed to offer encouraging commentary about the outlook in a speech yesterday. In a similar vein, the World Bank has cut its economic forecast for 2011, simultaneously making note that growth in Europe remains constrained. Two of Europe's largest economies -- Germany and France -- both reported for April disappointing trade data. Subsequent losses among the major bourses of Europe have further perpetuated selling interest, as has a weaker euro, which has helped drive the dollar higher. Still to come today is the latest tally for weekly oil inventories (10:30 AM ET) and the Fed's latest Beige Book (2:00 PM ET).

09:05 am : S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: -5.50. Commodities are generally weak this morning. Crude oil prices are down 0.5% to $98.55 per barrel in the first few minutes of pit trade. Weekly oil inventory data are due at 10:30 AM ET. Meanwhile, natural gas prices are essentially unchanged at $4.78 per MMBtu. Among precious metals, silver prices are down by 2.1% to $36.25 per ounce. Gold is down 0.5% to $36.29 per ounce. The action comes amid a stronger dollar, which was last quoted with a 0.4% gain against a basket of major foreign currencies.

08:35 am : S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -7.30. Action in Europe is weak today. Data out of the region hasn't helped; eurozone GDP for the first quarter increased by 0.8%, as had been posted in the preliminary report. The World Bank, which cut its global growth forecast for 2011, stated that growth is constrained in many European countries. That may be considered by some to be more of an acknowledgement than an original assessment. Among the continent's major bourses, Germany's DAX is down 1.1% at the moment. Deutsche Bank (DB) has been a drag, as has Commerzbank AG, even though the stock was actually upgraded to Buy by analysts at ING. The country's trade balance for April totaled 10.9 billion euros, which is down markedly from the 18.8 billion euro balance recorded for the prior month. France's trade deficit for April came in at 7.1 billion euros, which is a greater deficit than the 5.9 billion euro deficit that had been recorded for the prior month. The country's primary equity market measure, the CAC, is currently off by 0.8%. All 40 of its components are in the red - Alcatel Lucent (ALU) is in the worst shape as it contends with a loss of almost 4%. The United Kingdom's FTSE has fallen to a 0.9% loss amid widespread weakness throughout the region and reports that analysts at Moody's cautioned that the United Kingdom could lose its top-notch AAA credit rating. Only a handful of names, including Barclays (BCS), Lloyds Group (LYG), and AstraZeneca (AZN) have managed to muster gains. Metals and mining plays Xstrata and BHP Billiton (BHP) are in some of the worst shape.

Many major Asian averages closed lower, but Japan's Nikkei closed 0.1% for the better. Financials were a source of support after analysts at JP Morgan upgraded the space. Mitsubishi UFJ Financial Group (MTU) was a leader. In contrast, Tokyo Electric Power Co. tumbled again. Reports suggest that the Japanese government may close nuclear plants. China's Shanghai Composite managed to gain 0.2% in the face of ongoing concerns about interest rate increases. Aluminum Corp of China was a top performer; it surged the 10% daily limit in response to reports about rare earth joint ventures. Hong Kong's Hang Seng fell 0.9%, which made for its fifth consecutive loss. It now trades at a 12-week low. HSBC (HBC) was a heavy drag after it agreed to pay $62.5 million to investors who lost money in the Bernie Madoff ponzi scheme.

08:05 am : S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -11.00. A weak finish to the prior session has carried over into this morning's premarket trade. In turn, stock futures point to a lower start for the session. In the backdrop is a downwardly revised 2011 forecast for global growth from the World Bank. Trade data from both France and Germany has also proven disappointing. In response, the euro has moved lower against the greenback, while many of the major bourses abroad have retreated. Today's calendar features a weekly oil inventory tally at 10:30 AM ET. Results from an auction of 10-year Notes are due at 1:00 PM ET. The Fed's latest Beige Book will be posted at 2:00 PM ET.

06:47 am : [BRIEFING.COM] S&P futures vs fair value: -8.20. Nasdaq futures vs fair value: -13.00.

06:47 am : Nikkei...9449.46...+6.50...+0.10%. Hang Seng...22661.63...-207.00...-0.90%.

06:47 am : FTSE...5807.55...-57.10...-1.00%. DAX...7015.23...-88.00...-1.20%.

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

5:52PM Arch Coal prices private offering of $2.0 bln of senior notes (ACI) 26.50 -0.23 : Co announced the pricing of its private offering of $1.0 billion principal amount of its 7.000% senior notes due 2019 and $1.0 billion principal amount of its 7.250% senior notes due 2021 (together, the "Senior Notes"), in each case at an issue price of 100% of the principal amount. Arch will pay interest on each series of the Senior Notes on June 15 and December 15 of each year, beginning on December 15, 2011. Each series of the Senior Notes will be guaranteed by Arch's subsidiaries that guarantee indebtedness under Arch's secured credit facility.

5:23PM Citi prices remarketing of 3.953% senior notes due June 15, 2016 (C) 36.81 -0.77 : Co announced the successful remarketing of $1.875 billion aggregate principal amount of debt securities, representing the last of four series of debt securities required to be remarketed under the terms of Citi's Upper DECS Equity Units issued to the Abu Dhabi Investment Authority in December 2007. Pursuant to the agreements governing the Upper DECS Equity Units, the interest rate on this fourth series of remarketed debt was reset to 3.953%. The remarketing will settle on June 15, 2011.

5:07PM Pall Corp beats by $0.02, beats on revs (PLL) 52.92 -0.40 : Reports Q3 (Apr) earnings of $0.72 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.70; revenues rose 15.2% year/year to $709.8 mln vs the $667.4 mln consensus. In Q4, co expects to reverse ~$20 to $30 million of previously recorded tax related liabilities. Co said, "The IRS assessed no penalties. We also now believe the probability of assessment by the IRS of approximately $106 million of potential additional penalties is remote. Gratifying third quarter results bring us that much closer to the higher end of our earnings guidance for fiscal 2011. As significant, the Company continues to make progress on delivering its long-term performance goals, creating further value for shareholders. Our Total Fluid Management strategy has proven effective to broaden and deepen Pall's presence in its end markets."

5:05PM LAN Airlines Monthly Statistics Report for May 2011; May system passenger traffic increased 19.6% as capacity rose 14.2%; international passenger traffic grew 19.7%, while capacity increased 11.4% (LFL) 28.15 +0.07 : Co reported its preliminary monthly traffic statistics and punctuality indicators for May 2011. During May, system passenger traffic increased 19.6% as capacity rose 14.2%. As a result, the Co's load factor for the month increased 3.5 points to 77.7%. International passenger traffic accounted for ~70% of total passenger traffic. Starting in January 2011, these figures include AIRES' domestic and international operations. Domestic passenger traffic in Chile, Argentina, Peru, Ecuador and Colombia rose 19.2% as capacity increased 20.9%. As a consequence, the domestic load factor for the month decreased 1.1 points to 74.2%. International passenger traffic grew 19.7%, while capacity increased 11.4%. Accordingly, the international passenger load factor for the month increased 5.5 points to 79.3%. During May, international capacity expansion was mainly driven by an increase in operations on certain regional routes, as well as routes to the United States.

5:03PM ELS announces $200 mln unsecured term loan commitment (ELS) 62.14 +0.64 : Co announced that it has entered into a commitment for a $200 million senior unsecured term loan facility. The Term Loan matures in six years and has a one-year extension option. The interest rate on the Term Loan is at LIBOR plus 1.85% to 2.80% per annum. The spread over LIBOR is variable based on leverage throughout the loan term.

5:01PM Valhi Inc's subsidiary, Waste Control Specialists, signs contract to dispose of Texas low-level radioactive waste (VHI) 43.72 +0.34 : Waste Control Specialists LLC ("WCS"), a subsidiary of Valhi (VHI), has signed a contract with one of the state's largest private brokers for the permanent disposal of low-level radioactive waste ("LLRW") at the Texas Compact disposal facility being constructed at WCS' Andrews County site.

5:00PM Penn Virginia Resource Partners, L.P. announces acquisition and expansion of midstream assets (PVR) 24.36 -0.77 : Co announced the acquisition of a natural gas gathering system and processing facility in the Texas panhandle area. The "Antelope Hills" assets acquired by PVR consist of a 20 MMcf/d cryogenic processing facility and an approximate 15-mile gathering system in Lipscomb and Hemphill Counties. The acquired assets, which are connected to PVR's existing Panhandle Systems, are strategically located to serve active producers in the Granite Wash formation. The purchase price for the acquired assets was $11.44 million.

5:00PM Whiting Petroleum lowers Q2 and 2011 production guidance (WLL) 61.34 +0.04 : The co lowered Q2 production guidance to 5.75-5.85 MMBOE, down from 6.15-6.35 and lowered 2011 production to 25.15-25.55 from 25.80-26.20 MMBOE. The following events are expected to impact our operations in Q2 of 2011 by ~450K barrels of oil equivalent (BOE). 1) Snow, ice and rain storms in North Dakota during April and May, 2011 caused power outages, road closures and field conditions which limited normal production and new completion operations. As a result, as of June 6, 2011, co had 60 wells awaiting completion operations (42 operated wells and 18 non-operated wells). 2. Our Seep Ridge Gas Pipeline located in Uintah County, Utah was shut-in for repairs on April 16, 2011. This event caused production to be reduced by ~116,000 BOE. We expect the pipeline to be fully operational by June 15, 2011. 3. During the second quarter of 2011, we have experienced under-deliveries of CO2 contract quantities from our North Ward Estes field CO2 supplier. The current shortfall is ~25 mln cubic feet (MMcf) per day below our contracted delivery volume of 134 MMcf per day. Co estimates the under-delivery of CO2 will reduce production from our North Ward Estes EOR project by 45,000 BOE in the second quarter of 2011. The supplier attributes the shortfall to steeper than forecasted production declines from McElmo Dome in southwestern Colorado (the CO2 source for the North Ward Estes field), permitting delays for new drilling at McElmo Dome, and a production imbalance currently being made up by the supplier to a co-owner of McElmo Dome. The supplier has informed us they plan to resume delivery of full contract quantities by Sept 30, 2011. The Co's full-year 2011 capital budget is $1,350 mln.

5:00PM VSE Corp and Wheeler Bros win US Postal Service repower contract (VSEC) 26.52 +0.57 : Co announced that it has received notification from the US Postal Service (USPS) that it will be awarded a contract to deliver a more fuel efficient repowered gasoline LLV prototype delivery vehicle for the existing fleet. VSE submitted a proposal with Wheeler Bros., Inc. (WBI) of Somerset, PA, to develop and deliver the vehicle for testing. The USPS solicitation asked that contractors propose fuel efficient gasoline or diesel engine to be used in the USPS truck fleet, which is the largest civilian fleet in the world. A prototype vehicle is to be tested and delivered within six months.

4:58PM Amylin Pharmaceuticals issues statement regarding U.S. District court order (AMLN) 12.93 -0.54 : Co issued the following statement regarding the decision of the United States District Court for the Southern District of California to deny its motion for a preliminary injunction to enjoin Eli Lilly and Company (LLY) from engaging in anticompetitive activity and breaching its diabetes collaboration agreement with AMLN: "We are disappointed by the Court's decision not to issue a preliminary injunction, which Amylin requested to prevent Lilly from proceeding with its plans to use the same sales force to sell both exenatide and Boehringer Ingelheim GmbH's competing drug, linagliptin. Amylin continues to believe that Lilly's conduct violates our diabetes collaboration agreements, is anti-competitive and limits patients' treatment options. It is important to note that the Court's decision did not make any findings on the merits of our claims, but merely declines to award injunctive relief, based on the conclusion that monetary damages would be sufficient. We intend to vigorously pursue the litigation to enforce our legal and contractual rights."

4:56PM Alon Refining Krotz Springs commences restart (ALJ) 10.70 -0.41 : Alon Refining Krotz Springs provided an update on the operation of the Co's refinery located in Krotz Springs, Louisiana. The Co has commenced the restart of the Krotz Springs refinery after its shutdown in late May in anticipation of flooding resulting from opening of the Morganza Spillway due to historic flooding along the Mississippi River basin.

4:50PM EasyLink beats by $0.17 (ESIC) 3.98 -0.05 : Reports Q1 (Mar) non-GAAP earnings of $0.22 per share, $0.17 better than the Capital IQ Consensus Estimate of $0.05; revenues rose 132% year/year to $319.3 mln vs the $20.1 mln consensus.

4:46PM Illumina cuts price of whole-genome sequencing for individuals by 51.3% to $9,500 (ILMN) 73.27 +0.56 : Co announced a series of measures to increase access to genetic information by individuals and physicians who participate in the company's Individual Genome Sequencing (IGS) service. In his remarks at the 3rd annual Consumer Genetics Show in Boston, Illumina President and CEO Jay Flatley announced a significant price reduction for its individual genome sequencing service from $19,500 to $9,500. Additionally, the Company is offering a program to subsidize sequencing for patients with life-threatening disease where whole-genome sequence information may provide their physician with critical tools for diagnosis or treatment. The price under this program is $7,500 per genome and, for cancer patients, $10,000 for a tumor-normal pair.

4:36PM Grupo Aeroportuario del Pacifico reports passenger traffic decrease of 3.6% for May 2011 (PAC) 40.48 -0.45 : Co announced preliminary terminal passenger traffic figures for the month of May 2011 compared to traffic figures for May 2010. During May 2011, total terminal passengers decreased 3.6% compared to the previous year. Domestic passenger traffic decreased 5.0%, while international passenger traffic decreased 0.5% compared to May 2010.

4:32PM CBIZ Inc announces redemption of 2006 convertible senior subordinated notes (CBZ) 7.46 +0.02 : Co announces that its note holders have given notice to redeem $39,250,000 of the 3.125% Convertible Senior Subordinated Notes due 2026 (the "2006 Notes") on June 1, 2011.

4:31PM Luminex says its xTAG Gastrointestinal Pathogen Panel is being used successfully as a first-line screen for patients at Kliniken der Stadt Koln suspected of having an E. coli infection (LMNX) 19.49 -0.37 :

4:31PM Texas Instruments narrows and lowers Q2 guidance (TXN) 32.67 -0.60 : Co lowers earnings guidance to $0.51-0.55 vs $0.58 Capital IQ Consensus Estimate, from $0.52-0.60 and lowers revs guidance to $3.36-3.50 bln vs $3.55 bln Capital IQ Consensus Estimate, from $3.41-3.69 bln. Conf. call begins at 5:00pm EST.

4:30PM Franklin Resources Franklin Resources May AUM rise 0.4% (BEN) 122.29 -0.18 : Co announces month-end assets under management by the co's subsidiaries of $735.8 billion at May 31, 2011, compared to $733.1 billion at April 30, 2011 and $572.7 billion at May 31, 2010

4:30PM Immunomedics announced that 4 studies, using its recently patented peptide labeling method with the radioisotope fluorine-18, were presented at the 2011 Annual Meeting of the Society of Nuclear Medicine (IMMU) 3.98 -0.03 :

4:25PM Tekmira Pharma to resume trading 16:30 ET (TKMR) 2.95 -0.03 :

4:24PM Greif beats by $0.07, beats on revs; reaffirms FY11 EPS guidance (GEF) 64.24 -0.44 : Reports Q2 (Apr) earnings of $1.04 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.97; revenues rose 25.5% year/year to $1.05 bln vs the $1.03 bln consensus. Co reaffirms guidance for FY11, sees EPS of $4.50-4.75 vs. $4.72 Capital IQ Consensus Estimate.

4:20PM Mexco Energy reports its working interest in a well in Texas is currently producing at a rate of ~90 barrels of 28 gravity oil and 130 barrels of water per day. (MXC) 9.22 -0.17 : Co announced the results of further tests of a well in Andrews County, Texas. Mexco Energy participated as a working interest owner in a well drilled to a depth of ~5,000 feet in the Grayburg and San Andres producing intervals in the Fuhrman-Mascho Field of Andrews County, Texas. Based on a report from the operator, this well is currently producing at a rate of ~90 barrels of 28 gravity oil and 130 barrels of water per day. Mexco's working interest in this new well is 10.8% (net revenue interest of 7.77%). The rates at which this will be produced and sold may be substantially different, based on regulatory and engineering considerations as well as performance of the well over longer periods of time. This property contains an additional 11 potential drill sites in the Grayburg and San Andres formations.

4:19PM NetSpend announces issuance of U.S. Patent (NTSP) 7.68 -0.20 : Co announced that the company's wholly-owned subsidiary, NetSpend Corporation, has been granted patent #7,814,018 by the United States Patent and Trademark Office. The '018 patent covers techniques for associating a valid charge number, such as a debit card number, and a prepaid account, so that consumers can make electronic payments without the need for a traditional credit or debit card.

4:17PM Eli Lilly: U.S. District Court Rules in favor of co in Amylin (AMLN) litigation (LLY) 37.27 +0.01 : Co announced that the U.S. District Court for the Southern District of California ruled in co's favor, vacating a temporary restraining order and denying a request by Amylin Pharmaceuticals for a preliminary injunction that sought to impose restrictions on the Lilly Diabetes sales force and other relief. Amylin recently filed litigation involving the two companies' diabetes collaboration agreement.

4:16PM XOMA Limited released six-month top line results from a Phase 2a clinical trial of XOMA 052 in 74 patients with Type 2 diabetes; XOMA 052 was well tolerated (XOMA) 2.85 -0.05 : Co released six-month top line results from a Phase 2a clinical trial of XOMA 052 in 74 patients with Type 2 diabetes. The results were as expected based on data from the Phase 2a three-month interim review and the Phase 2b trial. XOMA 052 was well tolerated with no significant differences between the XOMA 052 and placebo groups in observations of adverse events.

4:11PM SPS Commerce announces public offering of 1.2 mln shares of common stock by shareholders (SPSC) 17.72 0.15 : The co will not issue any shares in the offering and will not receive any of the proceeds from the sale of shares by the selling stockholder. Stifel Nicolaus Weisel is the book-running manager for the offering and Craig-Hallum Capital Group is the co-manager for the offering.

4:08PM Men's Wearhouse beats by $0.04, reports revs in-line; guides Q2 EPS in-line; guides FY12 EPS in-line (MW) 30.11 -0.70 : Reports Q1 (Apr) earnings of $0.53 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.49; revenues rose 22.6% year/year to $580.4 mln vs the $578 mln consensus. Co issues mixed guidance for Q2, sees EPS of $1.02-1.05 vs. $1.05 Capital IQ Consensus Estimate; sees reveneu growth of 20-21% y/y (approx $644-649 mln) vs Capital IQ consensus of $608.6 mln; Gross margin range 43.05-43.25%. Co issues mixed guidance for FY12, sees EPS of $2.04-2.12 vs. $2.10 Capital IQ Consensus Estimate; sees revenue growth of 12-13% (approx $2.35-2.36 bln), consensus $2.348 bln; Gross Margin range 46.65-46.80%.

4:06PM Insignia Sys announced the appointment of John Gonsior as its new Vice President of Finance, CFO, and Treasurer (ISIG) 4.13 -0.03 :

4:05PM C.R. Bard increased the quarterly dividend on Bard's common stock by 6 percent, to 19 cents per share (BCR) 108.53 +0.21 :

4:05PM Thor Industries beats by $0.04, reports revs in-line (THO) 30.20 -0.65 : Reports Q3 (Apr) earnings of $0.72 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.68; revenues rose 25.3% year/year to $852.1 mln vs the $848.9 mln consensus.

4:05PM Five Star Quality Care commenced a public offering of 10 mln common shares (FVE) 7.21 -0.08 : FVE expects to use the proceeds of this offering for general business purposes, including repaying its outstanding bridge loan and for funding in part the cash purchase price of pending acquisitions and other possible future acquisitions. The joint bookrunning managers for this offering are Jefferies & Company, Citi and UBS Investment Bank.

4:04PM Spectra Energy announced a 6.25 mln share common stock offering representing limited partner interests (SEP) 31.83 +0.14 : The Partnership intends to use the net proceeds, as well as the net proceeds from any exercise of the underwriters' over-allotment option, to fund a portion of the purchase price for the Big Sandy acquisition, and use any remaining proceeds for general partnership purposes. BofA Merrill Lynch, Barclays Capital, Citi, and Wells Fargo Securities will act as joint book running managers for the offering. Spectra Energy Partners is a master limited partnership, formed by Spectra Energy Corp (SE).

4:04PM Tekmira Pharma has undertaken an offering of units, each unit being comprised of one common share and a portion of a common share purchase warrant, to be approximately $5 mln (TKMR) 2.95 -0.03 :

4:02PM Plexus will reaffirms guidance for Q3 at Investor Day (PLXS) 34.20 -1.32 : Co reaffirms guidance for Q3 (Jun), sees EPS of $0.52-0.57, including approximately $0.07 per share of stock-based compensation expense, vs. $0.55 Capital IQ Consensus Estimate; sees Q3 (Jun) revs of $550-580 mln vs. $569.07 mln Capital IQ Consensus Estimate.

4:01PM Procera Networks plans to offer to sell shares of its common stock in an underwritten public offering (PKT) 10.10 -0.23 : All of the shares in the offering will be sold by Procera. Stifel Nicolaus Weisel is the sole book-running manager of the offering and Stern Agee is serving as a co-manager.

3:50PM Dow -10 jumps roughly 40 points after setting fractional new session low (DIA) :

3:42PM Earnings Calendar (SUMRX) : Today after the close look for the following companies to report:

* UHAL, GEF, MW, PLL, STEI, and THO.

Tomorrow before the open look for the following companies to report:

* BF.B, SJM, GAGA, TITN, and MTN.

3:30PM Fractional new session lows for major averages -- Dow -37, S&P -6.5, Nasdaq Comp -29 (SPY) :

3:27PM Procter & Gamble held near its 50 sma support at 64.73 on a morning and early afternoon test, slipping back toward this area in recent trade -- session low 64.69 (PG) 64.79 -0.27 :

3:21PM Stock indices slipping back toward the lows again in recent trade -- Dow -37, S&P -6.3, Nasdaq Comp -28 (SPY) :

3:01PM Dow Chemical to acquire Prairie Brand Seed (DOW) 34.89 -0.29 : Co announced it intends to purchase certain assets of Sansgaard Seed Farms, of Story City, Iowa. The transaction is expected to close in the near future. Under the terms of the agreement, Dow AgroSciences will acquire the Prairie Brand Seed brand and marketing assets, in addition to land, buildings and equipment. The addition of these assets will build upon Dow AgroSciences' seed business and will expand its broad range of product offerings.

3:00PM Community Partners Bancorp elects Frank J. Patock, Jr. as new Chairman of the Board (CPBC) 4.80 0.00 :

2:54PM Merck confirmed changes to the prescribing information in the US for the highest dose of simvastatin (MRK) 35.93 +0.36 : Co confirmed changes to the prescribing information in the United States for the highest dose of simvastatin, 80 mg, and the use of simvastatin with certain other medicines. Merck has updated the U.S. prescribing information: To limit the use of the high dose of simvastatin, 80 mg, which is taken by approximately 12 percent of U.S. simvastatin users, to patients who have been taking that prescribed amount chronically (e.g., for 12 months or more) without evidence of muscle toxicity; and, in addition. To contraindicate and/or limit the dose of simvastatin when used with certain drugs where the combined use may increase the risk of myopathy and rhabdomyolysis. The agency is recommending that simvastatin 80 mg be used only in patients who have been taking this dose for 12 months or more and have not experienced any muscle toxicity. It should not be prescribed to new patients. There are also new contraindications and dose limitations for when simvastatin is taken with certain other medications.

2:52PM Kingold Jewelry announced that Mr. Zhihong Jia, the Company's Chairman and CEO has entered into a Rule 10b5-1 plan (KGJI) 1.61 +0.08 : Co announced that Mr. Zhihong Jia, the Company's Chairman and Chief Executive Officer, has entered into a Rule 10b5-1 plan, under which he intends to purchase up to $500,000 of the Company's common stock. Once the maximum dollar amount of shares has been purchased under the plan, the Chairman currently intends to enter into a subsequent Rule 10b5-1 plan to purchase up to an additional $1 million of the Company's common stock, for a total investment of up to $1.5 million dollars.

2:41PM Financial Select Sector SPDR pulls back to support zone (XLF) 14.83 -0.07 : The downside extension in recent action for the XLF has pulled back to a support zone noted The Technical Take this morning (see for chart) in the 14.80/14.76 zone (session low 14.76). This marks an extension target, the 62% retracement of the Aug 2010 to Feb 2011 rally and an early Dec gap. Initial intraday resistance is in the 14.90/14.95 area -- BAC, WFC, USG, STT, MS, JPM, GS, BK, BAC, AXP.

2:37PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled higher by $1.65 to $100.74, natural gas closed up 2 cents to $4.85, RBOB gasoline shed a penny to close at $2.98, while heating oil finished higher by 2 cents to $3.09 (all July contracts).

2:31PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Corn prices rise 3.6% on high oil prices and ahead of tomorrow's USDA report (COMDX) : Continuous corn futures ended 26 cents higher (or +3.6%) at $7.63/bushel, wheat rose 13 cents to close at $7.47, cont. soybeans rose 5 cents at $13.99, cont. ethanol closed 6 cents higher at $2.69, while cont. world sugar futures closed 0.36% lower at 0.25 cents.

2:13PM Glatfelter Co expanding its proprietary festooning capacity (GLT) 14.50 +0.11 : Co is expanding its proprietary festooning capacity, providing a sustainable competitive advantage to its customers. This expansion is in response to rapidly growing demand in the Americas. Glatfelter operates festooning lines in its Falkenhagen, Germany and Gatineau, Quebec operations. This investment will significantly increase capacity in the Gatineau facility. The project costs are factored into the Company's previously reported capital guidance of $60 million to $65 million for 2011. While improving service to the growing demand of its customer base, Glatfelter also expects the investment to contribute to the Gatineau community by creating new employment opportunity as this capacity becomes operational.

2:02PM CE Franklin announced the promotion of Mr. Derren Newell to the position of CFO (CFK) 9.72 -0.02 : Mr. Newell succeeds Mr. Mark Schweitzer who is leaving CE Franklin to pursue an opportunity with an oil sands development company.

1:53PM Technology Select Sector SPDR extends to new low of 25.06, probing its 200 ema/sma for first time in nine months at 25.07/25.02 (XLK) 25.08 -0.19 : CSCO, GOOG, HPQ, IBM, AAPL, ORCL, VZ, S, QCOM, MSFT, INTC.

1:38PM Underperforming Nasdaq Comp -23 slides to new session low, Dow -19 and S&P -4 working back toward their early session lows (SPY) : Relative sector weakness on this move (underperforming the S&P) has been noted in Semi SMH, Disk Drive, Software IGV, Finance XLF, Reg Bank KRE, Materials XLB, Solar TAN, Silver SLV, Gold Miners GDX.

1:33PM COMEX Metals Closing Prices (COMDX) : August gold ended lower by $4.60 to $1539.40, July silver shed 33 cents to close at $36.72, while July copper finished down 4.05 cents to $4.109.

1:32PM Digital River signed e-commerce agreement with Panasonic (PC) (DRIV) 30.34 -0.39 : Based on the agreement, Digital River is managing U.S. e-commerce transactions for Panasonic's VIERA Connect Market.

1:23PM Generex Biotech and Amarantus BioSciences (AMBS.bb) announce oral-lyn-focused collaboration program (GNBT) 0.19 -0.01 : Co announced that the companies have selected the development of a MANF-based biomarker test to diagnose diabetic patients likely to respond to Oral-lyn treatment as the lead program for their joint research collaboration announced on May 31, 2011. This effort will be advanced through Amarantus' wholly-owned subsidiary, Amarantus MA.

1:09PM Copa Holdings reports May ASM's +23.1% YoY; RPM's +29.2% YoY (CPA) 60.98 -1.43 :

1:01PM Alnylam Pharma and Regulus Therapeutics report Nature article implicates microRNAs in the pathogenesis of obesity and Type 2 Diabetes (ALNY) 9.58 -0.09 : The cos announced the publication in Nature of new pre-clinical data in mice about the antagonism of microRNA-103 and microRNA-107 (miR-103/107). Data from a collaborative study performed by Regulus, Alnylam and ETH Zurich demonstrated that antagonism of miR-103/107 with proprietary chemically modified anti-miR oligonucleotides could promote insulin signaling in both liver and adipose tissue. Silencing miR-103/107 in animal models of obesity improved glucose homeostasis, suggesting that these microRNAs are potential targets for the treatment of diabetes.

1:00PM Target increases regular quarterly dividend by 20% to $0.30 (TGT) 46.64 -0.42 :

12:37PM Sino-Forest confirms Ontario Securities Commission investigation (SNOFF.PK) 4.79 +0.64 : Co confirmed that the Ontario Securities Commission ("OSC") has opened an investigation. The Company expected the OSC to take this step given its responsibility as the public regulator and the recent unusual trading activity and volatility in Sino-Forest's stock price and the allegations contained in Muddy Waters' report. The Company welcomes the OSC initiative and believes that the issues the OSC will seek to address will be consistent with the investigation commenced by an Independent Committee of the Board of Directors. The Company has also formally requested that the Toronto Stock Exchange and the Investment Industry Regulatory Organization of Canada investigate the trading of the Company's shares by Muddy Waters, LLC and its principal Carson Block and anyone associated with these persons in advance of the issuance of the Muddy Waters' report. The Company also intends to request an investigation by the Singapore Exchange Ltd in respect to the trading of the Company's bonds.

12:09PM Crude oil to fresh highs at $101.62; now up $2.53 to $101.60 (COMDX) :

11:31AM Air Products to expand nitrogen capacity and pipeline in Chandler, Arizona (APD) 90.42 -0.18 :

11:29AM Corn futures rise the exchange limit (+30 cents (or +4.1%)) to $7.67/bushel; now at $7.63, up 26 cents (COMDX) :

11:27AM Corn futures are rallying hard ahead of tomorrow's June supply/demand report; corn is currently +27 cents (or 3.7%) at $7.64-- the exchange limit in corn is 30 cents (COMDX) :

11:10AM Another round of minor new rebound highs for stock indices -- Dow +19, S&P +1.6, Nasdaq Comp -6.3 (SPY) : Some relative sector strength on this move (outperforming the S&P) has been noted in: Disk Drive, Semi SMH, Retail XRT, Housing XHB, Networking.

11:04AM GlobalStar announced that six new Globalstar satellites are now being prepared for July launch (GSAT) 1.12 0.00 :

10:54AM Gold dropping toward lows; now off $10.10 to $1533.90 (COMDX) :

10:48AM Minor new bounce highs for stock indices -- Dow +5.1, S&P +0.03, Nasdaq Comp -7.8 (SPY) :

10:47AM General Electric edges off low after flirting with Monday's low and its 200 sma at 18.39/18.35 -- session low 18.40 (GE) 18.59 +0.11 :

10:32AM Crude oil sees mixed reaction following inventoryd ata, initially spiking then pulling back; currently higher by $1.45 to $100.55 (OIH) :

10:31AM NCR Corp reports the addition of more than 800 new Blockbuster Express locations at Food Lion grocery store (NCR) 18.22 -0.14 :

10:22AM TD Ameritrade notches new session low of 19.15 near its 200 sma at 19.12 (AMTD) 19.16 -0.25 :

10:06AM Qualcomm sharp morning decline pauses near the lower end of its five week trade range at 55.42 -- session low 55.52 (QCOM) 55.78 -0.74 :

10:04AM Dow -14 joined S&P -3 and Nasdaq Comp -15 at new lows but follow through limited (SPY) : S&P has hit and paused near at 1280/1279 support noted in The Technical Take while the Nasdaq Comp has reached support at 2686/2683.

10:01AM Travelzoo Asia Pacific launches Local Deals in Hong Kong (TZOO) 60.71 +0.25 : Travelzoo Hong Kong's first trial Local Deal was a complete sell out. The trial resulted in 532 vouchers sold and generated over HKD 630,000 in gross revenue within two days. It had to be stopped to contain capacity.

9:56AM Merck attempting to stabilize near its 50 ema and Monday's low at 35.55/35.49 -- session low 35.49 (MRK) 35.58 +0.01 : Intraday resistance is at 35.75/35.79 with its 50 sma coming into play below at 35.36.

9:53AM Tri-Tech Holding wins contract for $3.83 million flash flood monitoring and forecasting project in Heilongjiang Province (TRIT) 8.10 -0.10 : Co announced today that its affiliate, Beijing Yanyu Water Tech Co., Ltd. (Yanyu), has won flash flood monitoring and forecasting projects in six districts and counties in Yichun City, Heilongjiang Province. The contract value is RMB24.82 million or $3.83 million.

9:50AM Minor new session lows for Nasdaq Comp -11 and S&P -2, Dow -10 hovering just above its early low (SPY) :

9:48AM Semi SMH, Housing XHB, Retail XRT slide to new session lows, Oil Service OIH and Energy XLE losing early upside momentum (TECHX) :

9:41AM Baldwin Technology announced that it has sold Oxy-Dry Food Blends to CPC Dry Pack (BLD) 1.29 0.00 : Under the terms of this transaction, the Company has fully transferred the lease obligation to CPC Dry Pack, Inc. and will no longer need to record the related fourth quarter charge.

9:40AM Only limited pressure thus far for stock indices -- Dow +4, S&P +0.2, Nasdaq Comp -5.7 (SPY) : The S&P did slip under Tuesday's low leaving it lower for the sixth session in a row but losses have been limited due to underlying strength in Energy (XLE +1.2%, OIH +0.9%, Natural Gas +1%, Coal KOL +0.2%) which has lifted it back above the flat line. Also, the severely lagging Finance sector (XLF) is attempting to hold above a support zone at 14.80/14.76 (session low 14.85, see The Technical Take for XLF chart).

9:33AM McDonald's weaker after report global sales but holds near last week's low of 80.01 and bounces -- session low 80.00 (MCD) 80.40 -0.74 : YUM -0.3% also held near its low from last week and edged off opening low.

9:31AM Marriott reports JW Marriott plans to open 12 new properties by year-end 2012 (MAR) 35.40 -0.14 :

9:31AM Grupo Aeroportuario del Pacifico enters new credit agreements for some airports (PAC) 40.93 +0.37 : Co informs that, effective June 6, 2011, the Company contracted an additional line of credit for the Guadalajara, Puerto Vallarta, Los Cabos, Hermosillo and Guanajuato airports, for a total of Ps. 551.37 million.

9:28AM On The Wires (WIRES) :

* IntercontinentalExchange (ICE) reported record daily volume in its Cocoa futures contract of 45,697 lots on June 7, 2011. The previous daily volume record of 45,618 contracts was established on November 9, 2010.
* The Real Estate and Living Media Network , the online advertising service of the LPS Real Estate Group, a unit of Lender Processing Services (LPS) announced a strategic media relationship with Smarter Agent, the leading mobile real estate application provider. This partnership enables the REALM network to expand its offerings beyond its many thousands of websites into the mobile device market.
* WellPoint (WLP) announced that it has entered into an agreement to acquire CareMore, a senior focused health care delivery program that includes Medicare Advantage plans and clinics designed to deliver proactive, integrated, individualized health care in select California, Arizona and Nevada markets. The transaction is expected to be neutral to earnings in 2012 and accretive in 2013 and beyond.

9:26AM ZAGG confirms it was awarded new patent to protect devices with protective coverings (ZAGG) 10.55 : Co announced that yesterday, June 7, 2011, United States Patent No. 7,957,524, titled Protective Covering for an Electronic Device, was issued to the company. These film-based body covers may include one or more films or sets of films that substantially cover an electronic device and conform to its shape. This patent is further evidence of ZAGG's continued commitment to innovation and quality that protect and enhance the mobile experience. Note: this was reported on US PTO website yesterday.

9:21AM Crude oil back to near $100 on OPEC indecision; currently higher by 70 cents to $99.87 (COMDX) :

9:11AM On The Wires (WIRES) :

* Wind River, a wholly owned subsidiary of Intel (INTC) and Beijing Traffic Control Technology have partnered in the development of the Communication-Based Train Control system employed in the Yizhuang and Changping lines of the Beijing subway network.
* PokerTek (PTEK) announced that Gaming Laboratories International has approved its latest PokerPro software, Tournaments Plus+, version 3.0. This approval clears the way for installations and upgrades of this new software into jurisdictions worldwide that accept GLI certification.
* In a collaborative model designed to improve patient outcomes and enhance physician decision-making, Walgreens (WAG) and Northwestern Memorial Physicians Group of Chicago today announced a new coordinated health care program.
* BSD Medical (BSDM) announced that the co has signed an agreement with a third major U.S. distributor for sales and distribution of the MicroThermX Microwave Ablation line of products.
* Zebra Technologies (ZBRA) announced the release of its new QLn mobile printer family.
* The Smith Micro Software (SMSI) Productivity and Graphics Group today announced the release of Anime Studio Debut 8.
* ARM (ARMH) announced the use of a wide range of ARM technology in Panasonic Corporation's recently launched UniPhier MN2WS0220 SoC for Internet Connected Digital TV applications.
* Archer Daniels Midland (ADM) announced the expansion of its flagship cocoa sustainability program, Socially and Environmentally Responsible Agricultural Practices, into Lambandia, South East Sulawesi, Indonesia.
* Texas Instruments (TXN) introduced a flexible stereo audio codec with two fully-programmable miniDSP cores to support customized processing solutions for use in soundbars and docking stations.
* Meritor (MTOR) announced it has taken another step toward increasing efficiency in commercial vehicles with the launch of its 18X rear axle for fast and heavy long-haul operations.
* AOL (AOL) announced the release of Winamp for Android 1.1, a new version of the Winamp music management application for the Android mobile operating system, on the heels of its surpassing four million downloads.

9:05AM Neoprobe disputes premise of Citizens Petition; continue to believe in the clinical and scientific validity of trials including the use of vital blue dye (NEOP) 3.88 : Co acknowledges that a Citizen's Petition has been filed with the FDA by a holder of a short interest in the company's stock. "We strongly believe the premise of the Citizen's Petition is flawed and we continue to believe in the clinical and scientific validity of our trials including the use of vital blue dye as the appropriate comparator for registration purposes based on discussions with the FDA. We remain confident that Lymphoseek is approvable based on the regulatory pathway we have laid and continue to move forward with our plans to file an NDA in the third quarter. Neoprobe Corporation is continuing to assess options with our public relations, regulatory and legal advisors to address the unfounded information presented in the petition."

9:02AM Teleflex priced its previously announced public offering of $250 mln in aggregate principal amount of 6.875% senior subordinated notes at an issue price of 100% of their principal amount (TFX) 58.98 :

9:02AM Multi-Fineline has enhanced its manufacturing operations with two new facilities that incorporate additional capacity; expect annual revenue capacity to be $1.1 to $1.2 bln by the end of fiscal 2011 and approximately $1.3 bln by mid fiscal 2012. (MFLX) 20.98 : Co announces it has enhanced its manufacturing operations with two new facilities that incorporate additional capacity. Both new facilities were built on time and within budget to meet future customer demands. "Upon completing this latest phase of our expansion initiatives, we expect our annual revenue capacity to be $1.1 to $1.2 billion by the end of fiscal 2011 and approximately $1.3 billion by mid fiscal 2012."

9:01AM Exxon Mobil announces three discoveries in deepwater Gulf of Mexico; potential for more than 700 mln barrels of recoverable oil equivalent (XOM) 80.00 : Co announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company's first post-moratorium deepwater exploration well. announced two major oil discoveries and a gas discovery with a combined estimated recoverable resource of more than 700 mln barrels of oil equivalent. "We estimate a recoverable resource of more than 700 mln barrels of oil equivalent combined in our Keathley Canyon blocks... This is one of the largest discoveries in the Gulf of Mexico in the last decade. More than 85% of the resource is oil with additional upside potential."

8:56AM China Ming Yang Wind Power states it does not see impact from Chinese Government subsidy cut (MY) 6.27 : Co reiterates its committed to continuous innovation, and does not see any impact from a proposed subsidy cut by the Chinese Government. Co does not currently receive any subsidy under the aforementioned Chinese Government subsidy program, and does not expect the subsidy cut to affect the co's operations.

8:41AM Wells Fargo at Deutsche Bank Financial Conference: Say it thinks the stock 'is on sale'; ability to buyback $200 mln shares in current program; says it is fair to assume that 'this is an opportune time' to buy shares (WFC) 25.77 :

8:39AM On The Wires (WIRES) :

* Avago Technologies (AVGO) announced a family of digital isolators that deliver the market's most robust insulation performance.
* Electro Scientific Industries (ESIO) announced that on June 3, 2011, the Kaohsiung District Court of Taiwan orally announced its judgment in a patent infringement lawsuit brought by ESI against Taiwan equipment manufacturer All Ring Tech. The District Court found that All Ring had infringed ESI's patent, and it ordered All Ring to pay ESI NT$700,000,000 (~US$24 mln) and interest accrued from November 4, 2005, to the date of payment at 5% per annum. ESI must post a $10 mln letter of credit with the court to enforce the judgment.
* Medidata Solutions (NMDSO) announced that South Korean contract research organization LSK Global PS has joined Medidata's ASPire to Win channel partner program for CROs and other service providers.
* Iteris (ITI) has introduced Abacus 2.0, its next generation traffic incident detection and data collection product.
* Capstone Turbine (CPST) received another follow-on order for C600 and C800 Power Packages from Tatneft.
* Ellie Mae (ELLI) announced the integration of PLATINUMdata's REALview collateral valuation review technology with Ellie Mae's Encompass360 Mortgage Management Solution

8:34AM Electro Scientific says Taiwan District Court rules in its favor in patent dispute with All Ring Tech (ESIO) 16.78 : Co announces that on June 3, 2011, the Kaohsiung District Court of Taiwan orally announced its judgment in a patent infringement lawsuit brought by ESI against Taiwan equipment manufacturer All Ring Tech, Ltd. The District Court found that All Ring had infringed ESI's patent, and it ordered All Ring to pay ESI NT$700,000,000 (approximately US$24 million) and interest accrued from November 4, 2005, to the date of payment at 5% per annum. ESI must post a US$10 million letter of credit with the court to enforce the judgment. The only method available to All Ring to stay the affect of the judgment is to post a cash security bond with the court in the amount of NT$700,000,000.

8:31AM Clean Harbors announces 2-for-1 stock split, in the form of a stock dividend of one share for each outstanding share (CLH) 97.47 : Co announces that its Board of Directors has authorized a two-for-one split of the Company's common stock in the form of a stock dividend of one share for each outstanding share. The stock dividend will be payable on July 26, 2011 to holders of record at the close of business on July 6, 2011.

8:31AM Ebix reports buy back of 1 mln shares since 29th March 2011 (EBIX) 18.39 : Co announces it has purchased a total of 1,020,073 shares of its common stock since March 29th 2011, for a total sum of $20.381 mln.

8:08AM A/S Dam TORM enters into sale and leaseback agreement for one product tanker; vessel sold for $46 mln (TRMD) 5.04 : Co announces it has entered into a sale and leaseback agreement for the product tanker TORM Marie. The vessel has been sold for a total consideration of $46 mln. The transaction will be treated as a sale with an accounting profit of $7 mln. The sale will be effected in 2Q11 where the effect of the transaction will be recognised in the financial statements. At the same time, the vessel will be leased back on a bareboat charter for 7 years. The transaction does not change the co's forecast for 2011 of a loss before tax of $100-125 mln.

8:04AM Flotek Industries has paid-in-full its Senior Credit Facility. (FTK) 8.45 : Co announces it has paid-in-full its Senior Credit Facility. Using proceeds received from a recent equity private placement, the Company paid approximately $29.25 million in remaining principal due to its senior lenders, Whitebox Advisors and Gates Capital Management. The repayment of the Senior Credit Facility reduced Flotek's outstanding debt obligations by approximately 22%.

8:03AM Celsion reports Drug Safety Monitoring Board recommends advancing DIGNITY study of ThermoDox in recurrent chest wall breast cancer into Phase II (CLSN) 3.28 : Co announced that after reviewing safety data from the Company's recently completed Phase I portion of the DIGNITY Phase I/II study of ThermoDox and hyperthermia in recurrent chest wall (RCW) breast cancer, an independent Drug Safety Monitoring Board (DSMB) has recommended advancing from Phase I to Phase II at 50 mg/m2 of ThermoDox.

8:02AM Hawaiian Holdings May RPMs +24.8% YoY to 865.5 mln; load factor -100 bps YoY to 84.5% (HA) 5.49 :

8:02AM Cardero Resource Names Michael Hunter President & Files NI 43-101 Resource Estimate on Carbon Creek Project (CDY) 1.43 : Co announces the appointment of Michael Hunter as President of co as a result of the recently completed acquisition of Coalhunter Mining Corporation. Hendrik Van Alphen will remain as the CEO and a Director. In addition, the co announces it has received a NI43-101 resource estimate on the Carbon Creek Metallurgical Coal deposit located in north eastern British Columbia from Norwest Corp. The report outlines 114.0 mln tonnes of measured and indicated, plus an additional 89.1 mln tonnes of inferred, coal with an ASTM coal rank of mvB.

8:02AM Oasis Petroleum says unpredictable weather continue to make operations difficult and the impact on Q2 production is not fully defined (OAS) 26.59 : Co provided an update on its operations and the impact of weather conditions across the Williston Basin during the second quarter of 2011. Co's operations have been adversely impacted by breakup from a record winter snowfall, sustained heavy rainfall, and out of the ordinary flooding throughout the second quarter. Last week, certain federal highways and various counties imposed road restrictions on heavy trucks, and Oasis had to shut-in certain wells. These unpredictable weather conditions continue to make operations difficult and the ultimate impact on the second quarter of 2011 production is not yet fully defined. As of June 6, 2011, Oasis had 24 gross operated wells waiting on completion. Co has been able to complete 11 gross operated wells since March 31, 2011, but 5 of these wells still have not been cleaned out. Co expects to provide a more thorough operational update during its second quarter 2011 conference call in August, which will include a discussion on third quarter and full year guidance.

8:02AM Somaxon Pharma and Paladin Announce Silenor Ex-Us Collaboration (SOMX) 2.30 : Somaxon Pharmaceuticals (SOMX) and Paladin Labs (TSX: PLB) announced that they have entered into an exclusive collaboration under which Paladin will commercialize Silenor (doxepin) for the treatment of insomnia characterized by difficulty with sleep maintenance in Canada, South America and Africa. According to IMS Canada, the value of the Canadian insomnia market, mainly comprised of zopiclone, exceeded $79 million in 2010 alone and has been growing at a 5 year CAGR of 10%. Under the terms of the agreements, Somaxon will receive an up-front payment of US$500,000, and Paladin will purchase 2,184,769 shares of Somaxon's common stock for a purchase price of US$5 million. Once Silenor is commercialized in the licensed territories, Somaxon will also be eligible to receive sales-based milestone payments of up to US$128.5 million as well as a tiered double-digit percentage of net sales in the licensed territories. Paladin will be responsible for regulatory submissions for Silenor in the licensed territories and will have the exclusive right to commercialize Silenor in the licensed territories. Governance of the collaboration will occur through a joint committee structure.

8:01AM Eli Lilly announced the FDA approved its supplemental new drug application with updates to the Humalog label (LLY) 37.26 : Co announces the FDA approved the company's supplemental new drug application with the following updates to the Humalog label: 1) continuous insulin infusion pump therapy in children 4 years of age and over with type 1 diabetes; 2) extension of the time-in-use in the external pump reservoir to a maximum of seven days; and 3) extension of the time-in-use of the infusion set and of the infusion set subcutaneous insertion site to a maximum of three days.

8:01AM Ryder System Ryder Acquires UK-Based Commercial Truck Leasing, Rental and Maintenance Provider Hill Hire (R) 50.70 : Co announced it has acquired Bradford, England-based Hill Hire plc, an independently run and wholly owned subsidiary of Lloyds Banking Group. Hill Hire is a UK market leader in commercial truck leasing, rental and maintenance, with a solid base of contractual customers. The stock acquisition was completed on June 8, 2011 at a cash price of approximately 154 million (approximately $252 million). The acquisition is expected to add approximately 90 million (approximately $147 million) in annual revenue to Ryder's Global Fleet Management Solutions (FMS) business segment, and be accretive to Ryder's earnings in 2011.

8:01AM Intl Game Tech Board approves $500 mln share repurchase program (IGT) 16.10 : Co announced that its Board of Directors has authorized a share repurchase program of up to $500 million of the Company's outstanding common stock. IGT expects to fund the repurchases using cash on hand and cash generated from operations.

7:51AM On The Wires (WIRES) :

* Skyworks Solutions (SWKS) introduced connectorized, high power filters for military, homeland security, airborne and high-end commercial transceiver applications.
* RF Micro Devices (RFMD) announced the expansion of its multi-market product portfolio to include several point-to-point (P2P) radio chipsets targeting the growing cellular backhaul market.
* Cavium Networks (CAVM) announced that it has delivered its OCTEON II CN63XX 2 to 6-core MIPS64 processors with up to 10.8GHz of 64 bit processing with each CPU core running at up to 1.8GHz to customers worldwide.
* A&B Properties, the real estate subsidiary of Alexander & Baldwin (ALEX), announced the sale of the Arbor Park Shopping Center, a 139,500 square-foot retail center in San Antonio, Texas, for $22.5 mln. The co also announced that, in a separate transaction, it has acquired the Union Bank Office complex in Everett, Washington, an 84,100 square-foot, two-building office facility, for $10.9 mln.
* VMware (VMW) announced a new collaboration with HP on turnkey solutions to simplify and accelerate virtualization for customers on the journey to cloud computing.
* ZST Digital Networks (ZSTN) signed a Letter of Intent with EarthSearch Communications International, subsidiary of East Coast Diversified Corporation as the basis for further discussion regarding the terms and conditions that may apply in a formal agreement to be executed between both parties in the future.
* First Solar (FSLR) announced that it has manufactured 4 gigawatts of thin-film photovoltaic solar modules since beginning commercial production in 2002.
* Noble Energy (NBL) announced that it has joined a venture that is exploring the AGC Profond block located offshore Senegal and Guinea-Bissau in West Africa.
* The DOJ awarded a contract to Unisys (UIS) to compete for task orders under the Information Technology Support Services-4 contract for information technology support services such as applications modernization, integration, and operations and maintenance.

7:43AM On The Wires (WIRES) :

* EDGAR Online (EDGR) announced its Xcelerate XBRL Taxonomy Services for U.S. GAAP. The consultancy and advisory solution assists firms in meeting the XBRL filing requirements of the SEC using in-house resources while leveraging EDGAR Online's expertise.
* NXP Semiconductors N.V. (NXPI) unveiled its new XR family of "eXtremely Rugged" LDMOS RF power transistors.
* TeleCommunication Systems (TSYS) announced that ATX Group has chosen TCS as a navigation and location-based services partner to deliver enhanced turn-by-turn navigation assistance with the upcoming Hyundai Blue Link program.
* China TechFaith Wireless Technology (CNTF) announced it will launch six Android-based smartphones in the third quarter 2011 under its TecFace brand.
* Tyler Technologies (TYL) has signed an agreement with the city of Hartselle, AL, for co's Incode integrated local government solution. The contract includes related professional services, maintenance and support.

7:42AM Piedmont reaffirms FY11 EPS of $1.50-1.60 vs $1.58 Capital IQ Consensus Estimate (PNY) 29.79 :

7:30AM SoundBite Communications acquires key assets of SmartReply; no terms disclosed; reiterates Q2 rev guidance (SDBT) 2.39 : The acquisition advances co's position in mobile marketing and significantly expands its penetration in the retail vertical. Based on modest revenue expectations from the SmartReply deal, co reaffirms guidance for Q2 (Jun), sees Q2 (Jun) revs of $9.0-9.5 mln vs. $9.20 mln Capital IQ Consensus Estimate.

7:13AM On The Wires (WIRES) :

* Harris (HRS) and Cubic (CUB) have conducted a series of technology demonstrations that significantly enhance intelligence, surveillance and reconnaissance situational awareness for tactical ground units by distributing Unmanned Aerial System video and targeting data across wideband ground tactical communications networks.
* Convio (CNVO) announced a strategic partnership to integrate email marketing from Constant Contact (CTCT) with Convio Common Ground CRM. The integration is designed to help small and mid-sized nonprofits create, grow and maximize the value of relationships with donors, volunteers and other constituents.
* Covidien (COV) announced that a subsidiary of the co filed an answer and counterclaims against Applied Medical Resources Corporation for patent misuse, non-infringement and invalidity.
* TMNG Global (TMNG) announced that one of its flagship proprietary toolsets, eLexicon, is now compliant with the industry standards developed by TM Forum - eTOM and TAM.

7:06AM Consolidated Comms announced the successful completion of amendment and extension of its secured and revolving credit facility (CNSL) 18.79 : Co has extended $409.1 mln of its Term Loan B to December 31, 2017. This extended traunche is priced at LIBOR plus 375 basis points, while the non-extended portion remains at LIBOR plus 250 basis points. Both the extended and non-extended debt will continue with no LIBOR floor. The Company has extended most of its $50 mln undrawn Revolving credit to June 8, 2016. This traunche, if drawn, continues to be based on the same total leverage scale as the non-extended portion and includes a 75 basis point increase. The agreement includes a 1% amortization on the principal portion of the debt beginning March 31, 2012. This results in a planned debt reduction of $2.2 mln per quarter starting next year. The agreement increases the incremental facility from $250 mln to $300 mln, which, based upon certain restrictions, can be used in an acquisition or for refinancing the non-extended portion.

7:06AM RXi Pharmaceuticals presents additional positive Phase 2 efficacy results for combination of NeuVaxTM and trastuzumab breast cancer at ASCO (RXII) 1.22 : Co presented Phase 2 efficacy results for NeuVax(TM) in combination with trastuzumab at the ASCO annual meeting. Data from the E75 Phase 2 breast cancer trial and another CD8 T cell eliciting peptide were analyzed, and the control arms of each trial were combined for this analysis. Of 187 patients enrolled in the E75 trial, 108 received vaccine and 79 were in the control arm. Of the vaccine treated patients 15 received Tz. A total of 32 patients in the combined control arms received Tz. The recurrance rate for the control arm was 12.5%, comparable with reported rates of similarly staged and treated patients. The recurrance rate for the NeuVax +Tz arm was 0% - no patients receiving vaccine after adjuvant Tz relapsed. A total of 30 patients were treated with Tz followed by vaccine, with zero patients recurring.

7:05AM Waste Mgmt CFO Robert Simpson to retire as of September 30, 2011 (WM) 37.18 : Co announces that senior vice president and CFO Robert Simpson intends to retire as of Sept. 30, 2011. Anticipating his retirement, the co has been conducting a search for a new CFO, and expects that the position will be filled before Bob's Sept. 30 retirement in order to make an orderly transition.

7:04AM GeoVax Labs trial results establish a new benchmark for preventative HIV vaccine model (GOVX) 0.90 : Co announced the publication of the results of preclinical testing of a simian prototype of its 2nd generation HIV/AIDS vaccine. The article, titled "Prevention of Infection by a Granulocyte-Macrophage Colony-Stimulating Factor Co-Expressing DNA/Modified Vaccinia Ankara Simian Immunodeficiency Virus Vaccine," will appear in the July 1 issue of The Journal of Infectious Diseases. In this non human primate study, the highly beneficial activity of the GM-CSF was shown by 70% of the group receiving the GM-CSF co-expressing DNA vaccine resisting infection.

7:04AM Merck and Intercell AG terminate Phase II/III clinical trial of investigational staphylococcus aureus vaccine, V710 (MRK) 35.57 : Co announces that following a detailed analysis of the data from the Phase II/III clinical trial evaluating V710, an investigational vaccine for the prevention of Staphylococcus aureus infection, the independent Data Monitoring Committee has unanimously recommended termination of the study. The recommendation to terminate was made based upon both the observation that V710 was unlikely to demonstrate a statistically significant clinical benefit as well as a safety concern regarding overall mortality and multi-organ dysfunction that occurred with greater frequency in vaccine recipients, compared with placebo recipients.

7:02AM Ciena misses by $0.13, misses on revs; guides Q3 revs below consensus (CIEN) 24.21 : Reports Q2 (Apr) loss of $0.24 per share, excluding non-recurring items, $0.13 worse than the Capital IQ Consensus Estimate of ($0.11); revenues rose 64.9% year/year to $417.9 mln vs the $428.1 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $435-455 mln vs. $457.29 mln Capital IQ Consensus Estimate; and adjusted gross margin to be in the low 40s range.

7:00AM Rentrak announced multi-year StationView Essentials contract to provide local market TV ratings data for three Lockwood Broadcast Group television stations (RENT) 19.40 :

6:46AM On The Wires (WIRES) :

* Equinix (EQIX) announced that IP network and managed services provided by TeliaSonera International Carrier are now available to customers in 25 of its International Business Exchange data centers in North America, Europe and Asia-Pacific.
* Netlist (NLST) announced the expansion of its Embedded Flash product portfolio with the new mini PCI Express SSD.
* Pharmasset (VRUS) announced the addition of three treatment cohorts to the ELECTRON trial of PSI-7977, a nucleotide analog polymerase inhibitor, for the treatment of chronic hepatitis C. Co anticipates reporting results from the first four arms of the trial during the second half of 2011.

6:42AM Piedmont misses by $0.01, misses on revs (PNY) 29.79 : Reports Q2 (Apr) earnings of $0.66 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.67; revenues fell 17.0% year/year to $392.6 mln vs the $491.9 mln consensus.

6:05AM Layne Christensen beats by $0.38, beats on revs (LAYN) 27.41 : Reports Q1 (Apr) earnings of $0.66 per share, $0.38 better than the Capital IQ Consensus Estimate of $0.28; revenues rose 15.9% year/year to $267.4 mln vs the $242.9 mln consensus.

6:02AM Cytori Therapeutics reports sustained benefits at 18 months in cardiac cell therapy heart attack trial (CYTX) 5.09 : Co reports 18 month outcomes from its APOLLO trial for Acute Myocardial Infarction. The results from the 14 patient, randomized, placebo-controlled, double-blind safety and feasibility trial in patients with ST-elevation AMI demonstrated the following:

* Mean reduction in infarct size at 6 months was preserved at 18 months for the cell treated group, at 11.7% and 11.2%, respectively. In contrast, patients receiving control, exhibited diminished treatment effect from 6 months (6.1%) to 18 months
* The mean reduction in left ventricular infarct size was statistically significant from baseline to 18 months in the cell-treated group. In patients receiving control, there was less improvement which was not statistically significant
* Statistically significant improvement in perfusion of the left ventricle from baseline to 18 months was observed in the cell-treated group. In patients receiving control treatment, there was less improvement which was not statistically significant
* There were substantially fewer premature ventricular beats per holter recording in patients who had received cells compared to those who had received control (mean of 24 and 146 PVBs per recording, respectively).

4:14AM On The Wires (WIRES) :

* Boeing (BA) and All Nippon Airways have completed pilot training in Seattle, for the first airline crews who will fly the 787 Dreamliner. Motorola Solutions (MSI) announced WiNG 5 WLAN, the next generation architecture along with an expanded portfolio of single-, dual- and tri-radio 802.11n access points and a powerful Integrated Services Controller designed to help organizations effectively manage thousands of APs from a network operations center.
* AMD (AMD) announced increasing industry adoption of the OpenCL standard across a broad range of innovative software applications.
* PPR S.A.announced that its previously announced tender offer to acquire all the outstanding shares of common stock of Volcom (VLCM) for $24.50 per share in cash has been extended to allow additional time to obtain necessary foreign antitrust approvals and will now expire at 5:30 p.m., New York City time, on Thursday, June 16, 2011, unless further extended. All other terms and conditions of the offer remain unchanged.
* Royal Caribbean International (RCL) announced that it will introduce Voyager of the Seas to the China market in 2012.
* Etrion announced an agreement with ABB (ABB) to complete Etrion's 10 MW Helios ITA 3 solar project under construction in the Puglia region of Italy.
* Active Power (ACPW) has moved its UK operations into a new office and industrial facility in Evesham, England, near the city of Birmingham.
* Harris (HRS) CapRock Communications has been chosen by Odfjell Drilling to deliver turnkey Very Small Aperture Terminal communications to seven of its mobile offshore drilling rigs and drill ships currently operating in the North Sea and Africa, as well as those under construction in South Korea. Communications for three of the rigs are new contracts and the other four are renewals. The contracts are valued at ~$13 mln, including options.
* SunPower (SPWRA, SPWRB) launched the SunPower E20 series of solar panels, the industry's first commercially-available solar panels to achieve total area efficiencies of 20% or more.
* AXA Private Equity announced it has signed a Sale and Purchase Agreement with Citigroup (C) for the acquisition of a $1.7 bln portfolio of limited partnership interests in private equity buyout funds and a portfolio of direct stakes in companies.
* Logitech (LOGI) unveiled the Logitech Touch Lapdesk N600, featuring a large touchpad that makes it easier to point, scroll and swipe your way through the Web.
* Digital Realty Trust (DLR) has signed a bespoke data centre agreement with Visa Europe. The new site will provide 10,000 square feet of raised floor space close to London.
* CME Clearing, a wholly-owned London-based subsidiary of CME Group (CME) announced that it has added two new over-the-counter diesel and two biodiesel contracts for clearing as the co expands its European product offerings. In addition, the co will be adding Credit Suisse (CS) as a clearing member firm bringing the total number of clearing members to 16.

3:14AM Ormat Tech secures $130 mln supply & EPC contract for Ngatamariki Geothermal Power Plant in New Zealand; its the largest order ever received for the product segment (ORA) 20.60 : Co announces that it received the largest product order in the co's history. The Supply contract and the Engineering, Procurement and Construction, contract, signed by two of its subsidiaries with Mighty River Power of New Zealand, are for the first stage of the Ngatamariki geothermal project valued at a total of ~$130 mln. The new power plant is to be constructed on the Ngatamariki Geothermal Field in New Zealand. Construction of the power plant is expected to be completed within 24 months from the contract date. Additionally, co increases our Product Segment guidance for 2011 by ~15% to between $90-100 mln.

2:46AM NYSE Euronext reports May trading volumes; average trading volume of 10.6 mln, down 20.6% YoY (NYX) 35.27 : CO announces trading volumes for its global derivatives and cash equities exchanges for May 20111. Global derivatives average daily volume of 10.6 mln contracts in May 2011 decreased 20.6% versus the prior year, which benefited from unseasonally strong trading volumes due to heightened market volatility driven by the sovereign debt crisis in Europe. Co states When compared to the strong first quarter of 2011, global derivatives trading volumes quarter-to-date are running ~13% below first quarter 2011 levels. Cash equities ADV declined in May 2011, with European cash ADV decreasing 22.0% and U.S. cash trading volumes decreasing 45.5% from May 2010 levels, but trading volumes at both venues increased when compared to April 2011.

1:45AM Merge Healthcare commences consent solicitation of $200 mln 11.75 Senior Notes due 2015 (MRGE) 5.27 :

1:43AM Air Lease issues $120 mln in unsecured notes; the notes contain a 5% coupon for a 5-year term due 2016 (AL) 24.93 :

1:41AM Brookdale Senior Living executes term sheet for $417 mln mortgage loan (BKD) 22.86 : Co announces it has entered into a term sheet and is engaged in negotiations with Oak Grove Capital for an ~$417.0 mln mortgage loan, which is expected to close in July 2011. The co anticipates that 75% of the proposed loan will bear interest at a fixed rate of ~4.11%, with the remaining 25% bearing interest at a variable rate of 30 day LIBOR plus a margin of 187 basis points. The proceeds from the proposed loan, together with the net proceeds from the recently announced convertible senior notes offering and cash on hand, will be used to repay ~$628.1 mln of mortgage debt due in 2012 and $84.1 mln of mortgage debt due in 2013.

1:39AM Evercore to acquire Lexicon Partners for ~$86 mln; expected to be immediately accretive to EPS (EVR) 34.26 : Co anounces it has entered into an agreement to acquire Lexicon Partners, a UK-based investment banking advisory firm. Co will pay ~86 mln in cash and EVR shares. The merger is expected to be immediately accretive to earnings per share and co believes the combination will provide a strong base to create value for shareholders via the continuing buildout of its European operations.

1:34AM Seven Arts Pictures receives letter from Fletcher Asset Mgmt to terminate venture agreement (SAPX) 2.37 : Under the Agreement, Fletcher, through BRG, and the co intended to form a venture to invest at least $10 mln in production and release costs of motion pictures, including motion pictures to be produced by the co and its affiliates. After review by counsel, the co's management and board have determined that Fletcher and BRG do not have the right to terminate the Agreement; as a result, the co has determined that Fletcher is obligated to pay the Company not less than $1,500,000 as damages. The co currently intends to seek legal redress from Fletcher and BRG for their improper, purported termination of the Agreement.

1:21AM Alnylam Pharma Chief Scientific Officer is leaving the co personal reasons, deciding to return to big pharma (ALNY) 9.67 :

1:14AM Community Partners Bancorp elects Frank Patock as new Chairman (CPBC) 4.81 : He was formerly the Vice Chairman of the Board.
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