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Market Update: 110706
4:15 pm : Stocks traded listlessly again today. The lack of action comes after last week's heady advance, but precedes the payrolls report on Friday.

The broad equity market was mired near the neutral line for the second straight session. Participants continue to rest on the laurels of last week's 5.6% gain, which was the best weekly performance for the S&P 500 in about two years.

There weren't many headlines that acted as trading cues for participants this session. The only item on the economic calendar was the ISM Non-Manufacturing Survey for June. It came in at 53.3, which is less than the 54.0 that had been expected, on average, among economists polled by Briefing.com. The reading is also less than the 54.6 that was reported for the prior month.

Tomorrow's calendar features the latest weekly initial jobless claims tally and the ADP Employment Report, which is offers a glimpse into the always pivotal official Nonfarm Payrolls Report on Friday. Uncertainty surrounding the jobs report ahead of its release often results in range bound trade.

Tech stocks and industrial issues displayed strength today. Those sectors settled with 0.5% gains, but that was offset by weakness among financial stocks, which collectively shed 0.6%.

Financials were a primary source of weakness for foreign markets in their latest round of trade. More specifically, Commerzbank and Deutsche Bank (DB 58.40, -1.02) weighed down Germany's DAX; BNP Paribas and Credit Agricole undercut France's CAC, and; Britain's FTSE faltered amid weakness in Barclays (BCS 16.15, -0.59) and Royal Bank of Scotland (RBS 12.12, -0.45). Banks in China were weak a day after Moody's made it know that loans to local governments were likely understated by about a half trillion dollars. As an aside, China tacked on another 25 basis points to its target interest rate, as had been widely speculated in recent weeks.

The dollar displayed strength all day long. Relative to a basket of competing currencies, the dollar advanced 0.6%. Most of the move was against the euro, which slid 0.8% to $1.431 as it extended its prior session slide after analysts at Moody's downgraded Portugal's debt yesterday afternoon.

Without any major surprises or new catalysts to drive trade, share volume remained depressed. Participation has been anemic all summer, but it has been especially sluggish in the days that have bracketed the Independence Day holiday.

Advancing Sectors: Consumer Staples +0.6%, Industrials +0.5%, Tech +0.5%, Materials +0.4%, Health Care +0.3%, Utilities +0.2%
Declining Sectors: Energy -0.2%, Consumer Discretionary -0.3%, Financials -0.6%, Telecom -0.8%DJ30 +56.15 NASDAQ +8.25 NQ100 +0.3% R2K +0.4% SP400 +0.6% SP500 +1.34 NASDAQ Adv/Vol/Dec 1453/1.65 bln/1101 NYSE Adv/Vol/Dec 1686/820 mln/1299

3:40 pm : Precious metals extended their respective rallies to a second session, with August gold gaining 1.1% to settle at $1529.00 per ounce, while Sept silver rallied for 1.6% to end at $35.97 per ounce. Despite strength in the dollar, both metals moved higher in light of yesterday afternoon's news that Moody's cut Portugal's debt rating, as well as inflation concerns following a rate hike in China.

It was an uneventful session for August crude oil, which shed 0.3% to close at $96.65 per barrel. Crude spent the session chopping around the unchanged mark, as the market awaits tomorrow's inventory data, as well as Friday's jobs data. August natural gas finished lower by 2.7% to $4.22 per MMBtu. DJ30 +39.65 NASDAQ +4.38 SP500 -0.54 NASDAQ Adv/Vol/Dec 1363/1.4 bln/1189 NYSE Adv/Vol/Dec 1586/574.2 mln/1406

3:00 pm : The S&P 500 remains mired near the neutral line as it plods into the final hour of today's trade. Although they are off of their session low, financials (-0.6%) continue to be a source of weakness. Energy stocks (-0.5%) have hampered action, too. In contrast, tech stocks (+0.4%) and industrials (+0.7%) have provided support.

The Dow has managed to hold on to a solid gain, however. Its relative strength comes as 3M (MMM 97.43, +1.29), Caterpillar (CAT 109.74, +1.31), and Boeing (BA 74.97, +0.82) put together the best gains among blue chips. DJ30 +56.04 NASDAQ +5.81 SP500 +0.89 NASDAQ Adv/Vol/Dec 1382/1.14 bln/1150 NYSE Adv/Vol/Dec 1646/465 mln/1332

2:25 pm : Stocks are still stuck in listless, lackluster trade. The market's "inaction" today has made for rather dull theatre.

This session's insipid state is partly owed to caution ahead of the nonfarm payrolls report that is due on Friday. The sideways drift has allowed last week's heady advance to consolidate, though. DJ30 +25.96 NASDAQ +1.23 SP500 -0.75 NASDAQ Adv/Vol/Dec 1358/1.05 bln/1182 NYSE Adv/Vol/Dec 1576/425 mln/1389

2:00 pm : Stocks are little changed in the last 30 minutes. That has left the major equity averages to remain mixed.

Share volume has been paltry today. While that is consistent with the poor participation seen in recent weeks, it is also a reflection of the lack of headlines or other catalysts that have been worth trading on. DJ30 +54.64 NASDAQ +9.05 SP500 +1.39 NASDAQ Adv/Vol/Dec 1458/970 mln/1072 NYSE Adv/Vol/Dec 1684/395 mln/1286

1:30 pm : Stocks are surrendering some of their gains. The downward drift has taken the S&P 500 back to the flat line, but the Dow and Nasdaq continue to cling to their already modest gains.

Treasuries haven't really responded to the stock market's recent slip. Instead, the benchmark 10-year Note continues to trade with a gain of only a few ticks, which haven't been enough to take the Note's yield back below 3.10%. DJ30 +44.54 NASDAQ +6.17 SP500 -0.17 NASDAQ Adv/Vol/Dec 1399/890 mln/1115 NYSE Adv/Vol/Dec 1586/365 mln/1368

1:00 pm : The stock market has made its way to a modest gain after plodding along for most of the morning. The upturn comes amid increased broad market support.

For the second straight session stocks started near the neutral line and chopped along listlessly. Even amid a lack of catalysts, participants had only a muted response to the latest ISM Non-Manufacturing Index, which slipped to a slightly weaker-than-expected 53.3. International headlines were generally limited, although concerns about rate hikes in China were confirmed with the decision by the PBOC to add another 25 basis points to their target interest rate.

Financials weighed on early action as they fell to a loss of more than 1%. The sector has since trimmed that loss to 0.6%. Investment banks, diversified banks, and regional banks continue to hamper the sector, however. Markets in both Europe and China saw sellers hit bank stocks, too; European bank shares moved lower in the wake of yesterday's downgrade of Portugal's debt, while China's banks were implicated by reports that loans to local governments were underestimated.

Tech stocks have made a strong push to a 0.6% gain after slipping into the red in mid-morning trade. Microsoft (MSFT 26.32, +0.29) and Yahoo! (YHOO 15.72, +0.23) have helped give the sector a boost.

Consumer staples stocks (+0.7%), industrials stocks (+0.6%), and materials stocks (+0.5%) are also finding favor.

The dollar has been strong all day. It currently sports a 0.5% gain, most of which is owed to weakness in the euro. The euro is already down about 1.4% against the dollar this week. It was last quoted at $1.432. DJ30 +70.80 NASDAQ +12.94 SP500 +3.05 NASDAQ Adv/Vol/Dec 1465/800 mln/1007 NYSE Adv/Vol/Dec 1713/330 mln/1225

12:30 pm : Stocks have struggled to extend their recent push higher, but haven't encountered any real selling either. That has left the major equity averages sitting near session highs.

Treasuries have had their gains trimmed in recent trade. The benchmark 10-year Note had been up solidly earlier, but now it is only up a couple of ticks. DJ30 +46.96 NASDAQ +6.84 SP500 +1.10 NASDAQ Adv/Vol/Dec 1373/735 mln/1102 NYSE Adv/Vol/Dec 1598/305 mln/1342

12:00 pm : The S&P 500 has poked into positive territory for the first time today. Meanwhile, the Dow and Nasdaq Composite have worked their way up to modest gains.

The stock market's recent upturn, although modest in scope, has come amid broad support. In particular, tech stocks, which collectively represent the largest sector by market weight, are now up 0.4%. Industrials and materials stocks are up 0.5%, which puts them closely behind the 0.6% gain currently sported by the consumer staples sector. Even financials, which have lagged all session, have managed to trim a loss of more than 1% into a loss of about 0.7%. DJ30 +40.18 NASDAQ +6.84 SP500 +1.05 NASDAQ Adv/Vol/Dec 1348/640 mln/1099 NYSE Adv/Vol/Dec 1593/270 mln/1310

11:30 am : Overall action remains both listless and lackluster. The dullness comes after stocks scored their strongest weekly performance in about two years, but precedes the official nonfarm payrolls report for June. Caution ahead of that report has allowed last week's gains to consolidate.DJ30 +12.33 NASDAQ -2.66 SP500 -2.09 NASDAQ Adv/Vol/Dec 1091/525 mln/1302 NYSE Adv/Vol/Dec 1349/220 mln/1513

11:00 am : Stocks have extended their move up from morning lows, but they remain mixed overall. For two straight sessions the broad market has lacked leadership.

Consumer staples stocks are today's best performers, as a group. The sector, which carries little overall market weight, is up 0.4%. Dow component Procter & Gamble (PG 6470, +0.44) has been a primary leader in its space.

Financials have been a steady drag on trade for the past two days. The sector's 1.1% loss is worse than any other major sector, although telecom isn't in much better shape as the group grapples with a 1.0% loss of its own. DJ30 +6.54 NASDAQ -1.89 SP500 -2.63 NASDAQ Adv/Vol/Dec 1062/420 mln/1315 NYSE Adv/Vol/Dec 1300/175 mln/1537

10:35 am : The dollar index is back near session highs, which continues to add pressure on commodities. Energy markets are lower, while in the metals space, copper is down and gold, silver and aluminum are higher. In the ag space, the majority of commodities are in the red except for a few showing modest gains.

Crude oil futures moved back in the red about 45 minutes ago and back near session lows of $95.93/barrel. However the energy component managed to stay just above the $96.00 level and is currently 0.6% lower at $96.37/barrel. Natural gas futures are down 1.2% at $4.32/MMBtu.

Precious metals spent most of the morning trending higher with gold futures hitting fresh session highs of $1529.70/oz about 20 minutes ago. Silver tracked gold's momentum and moved back towards it own session high. Both precious metals have pulled back slightly off those highs and gold is now 1.0% higher at $1527.20/oz. while silver is up 1.0% at $35.77/oz.DJ30 -4.66 NASDAQ -7.59 SP500 -4.27 NASDAQ Adv/Vol/Dec 925/246.7 mln/1350 NYSE Adv/Vol/Dec 946/114.3 mln/1736

10:05 am : The ISM Non-Manufacturing Survey for June was just posted. It came in at 53.3, which is less than the 54.0 that had been broadly expected among economists polled by Briefing.com. The June Survey is also less than the 54.6 that was reported for the prior month.

Stocks haven't shown much of a reaction to the report. As a result, they continue to chop along in mixed fashion. DJ30 -2.20 NASDAQ -6.06 SP500 -3.52 NASDAQ Adv/Vol/Dec 995/130 mln/1235 NYSE Adv/Vol/Dec 1107/65 mln/1607

09:45 am : As they were in the prior session, the major equity averages are mixed this morning. There continues to be a lack of leadership, too.

Financials remain a source of weakness, though. The sector has already fallen to a 1% loss. Banks and diversified financial services outfits like JPMorgan Chase (JPM 40.35, -0.68) and Bank of America (BAC 10.73, -0.27) have been heavy drags in early action. DJ30 +4.50 NASDAQ -3.75 SP500 -3.30 NASDAQ Adv/Dec 1310/1270 NYSE Adv/Dec 1465/1545

09:15 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -4.50. Weakness in Europe has imbued premarket trade. In turn, a lower start to the session appears to be in order. The dollar has attracted renewed support, though. More specifically, the greenback was last quoted with a 0.5% gain against a basket of major foreign currencies. Most of that move is owed to a weaker euro, which began to slide even before Moody's announced yesterday its decision to downgrade Portugal's debt. Trade-worthy headlines have been limited this morning, but participants will get their hands on the latest ISM Non-Manufacturing Index at 10:00 AM ET.

09:00 am : S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -2.50. Selling interest in Europe has the EuroStoxx 50 down 0.4%. Weakness there comes after analysts at Moody's reminded the world of the fiscal troubles facing countries in the eurozone periphery with its downgrade of Portugal. Portugal's PSI 20 is presently down 2.7%. As for action among the bigger bourses of the region, Germany's DAX is down 0.4%. Financial plays Commerzbank and Deutsche Bank are two of the heaviest drags on trade. Infineon Tech and Volkswagen have provided some support, though. In France, the CAC is off by 0.6% as Credit Agricole, Societe Generale, and BNP Paribas come under sharp pressure. Alcatel-Lucent (ALU) is one of only a few select stocks that has found positive territory. Britain's FTSE has fallen 0.8%. Banks are weak there, too. As such, Barclays (BCS) and Royal Bank of Scotland (RBS) are the two poorest performing stocks in the FTSE; both are currently contending with losses of about 4%.

Overnight action in Asia saw Japan's Nikkei advance to a 1.1% gain. Buying was broad based, but Nippon Paper was a top performer. Panasonic also outperformed. Power plays Kansai Electric and Chubu Electric topped the list of declining issues. Hong Kong's Hang Seng sank 1.0%. Bank of China and China Construction Bank were a couple of heavy drags on trade. They also weighed on Mainland China's Shanghai Composite, which closed with a modest 0.2% loss. Weakness among banks comes on the heels of news yesterday from Moody's that recent audits may have understated the loans of banks to local governments by about a half-trillion dollars. Additionally, concerns over further rate hikes proved prescient, given that the Peoples Bank of China hiked its key interest rate by another 25 basis points.

08:35 am : S&P futures vs fair value: -3.40. Nasdaq futures vs fair value: -2.80. Commodities scored strong gains in the prior session, but action in that space this morning has become mixed. Specifically, crude oil prices are down 0.6% to $96.30 per barrel while natural gas prices are down 1.0% $4.33 per MMBtu. Action among precious metals has gold prices up 0.3% to $1517.10 per ounce, but silver is flat at $35.43 per ounce. Meanwhile, the dollar has extended its prior session advance by another 0.6% today. Most of the greenback's gain has come against the euro, which was last quoted with a 0.8% loss at $1.432.

08:05 am : S&P futures vs fair value: -3.80. Nasdaq futures vs fair value: -3.80. Following a generally flat session, a mildly negative tone has crept into premarket trade. That has weakened stock futures, which point to a lower start for the session. In the backdrop, trade in Europe has been weak with the major bourses of the continent in the red. Overnight action in Asia was more mixed. After trade there closed, the Peoples Bank of China announced its plan to tack another 25 basis points on to its benchmark interest rate. Building up to the ADP Employment Report tomorrow and official non-farm payrolls numbers on Friday, the Challenger Job-Cut Report showed that planned cuts by U.S. employers increased by almost 12% in June. Still, the pace of downsizing through the first half of the year is the slowest since 2000. The ISM Non-Manufacturing Index for June is due at 10:00 AM ET. The consensus among economists polled by Briefing.com calls for a reading of 54.0, which is slightly less than the 54.6 posted for the prior month.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: -1.00.

06:53 am : Nikkei...10082.48...+110.00...+1.10%. Hang Seng...22517.55...-230.40...-1.00%.

06:53 am : FTSE...5985.02...-39.00...-0.70%. DAX...7427.29...-12.20...-0.20%.

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

4:39PM LeCroy has acquired Bogatin Enterprises, provider of training and publications for engineers; no other details disclosed (LCRY) 12.14 -0.40 :

4:37PM Westway Group announces extension and expansion of credit facility (WWAY) 4.90 0.00 : Co announced that the Company and its bank syndicate extended the maturity date and amended certain key terms of the Company's existing $200 million credit facility. The modifications included, among other items, the extension of the maturity date to July 6, 2015, the reduction of the interest rate and commitment fees payable, the relaxation of certain key financial covenants, and the provision of an additional $50 million accordion feature to the current facility.

4:37PM OCZ Tech beats by $0.02, revs grow notably YoY; raises FY12 revs guidance (OCZ) 8.34 +0.15 : Reports Q1 (May) earnings of $0.01 per share, excl. non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of ($0.01); revs rose 115% to $73.8 mln. In its FY12, the co raises revs guidance to $310-345 mln, up from $300-330 mln.

4:37PM MPG Office Trust also announces refinancing of joint venture property (20% interest) (MPG) 3.13 -0.08 : The Facility consists of a $140.0 million mortgage loan, which bears interest at a fixed rate of 4.775%, and an up to $20.0 million mortgage loan.

4:35PM MPG Office Trust disposes of non-core asset in Orange County (MPG) 3.13 -0.08 : Co announced that it had completed the disposition of 2600 Michelson in Orange County, California in cooperation with the special servicer on the mortgage loan. As a result of the disposition, we were relieved of the obligation to repay the $110.0 million mortgage loan secured by the property as well as contractual and default interest.

4:30PM Corrections Corp wins re-bid of contract from the State of Hawaii (CXW) 22.76 +0.25 : Co announced that pursuant to a competitive re-bid it has received a contract for the continued management of up to 1,956 inmates from the Hawaii Department of Public Safety primarily at CCA's 1,896-bed Saguaro Correctional Facility located in Eloy, Arizona. The contract, which commences on July 1, 2011, has a three-year term and contains two one-year renewal options. All other terms of the contract remain essentially the same as the current contract.

4:30PM Fluidigm and Life Technologies cross-license a broad set of intellectual properties (FLDM) 18.50 +1.55 : Co announces that it has entered into a set of cross-licensing and sub-licensing agreements on a range of intellectual properties with Life Technologies (LIFE). Under the terms of the agreements, Fluidigm will gain broad access to patent families covering PCR related technologies of Life Technologies. In addition, Life Technologies will gain broad access to a number of Fluidigm patent families related to imaging readers and other technologies.

4:30PM Lender Processing Services CEO Jeffrey Carbiener resigns due to health concerns (LPS) 20.54 -0.14 : Co's board of directors has established a committee to search for a replacement. In the interim, Lee Kennedy, the executive chairman of the board of co and the former chief executive officer of co's prior parent company, Fidelity National Information Services, Inc., will serve in the additional roles of president and chief executive officer.

4:29PM Cooper Industries unit expanding Brazil operations with $25 mln investment in production facility (CBE) 61.75 +0.50 :

4:24PM Polymet Mining reports Q1 ($0.01) vs. ($0.01) in the prior quarter (PLM) 1.72 -0.07 : Loss for the three months ended April 30, 2011 was $1.319 mln compared with $0.918 mln in the prior year period. General and administrative expenses were $1.183 mln compared with $0.851 mln for the prior year period. Excluding non-cash stock-based compensation, general and administrative expense was $0.647 mln compared with $0.841 mln for the prior period, reflecting the Company's continued cost-cutting efforts during the past year.

4:23PM The Hanover Insurance Grp estimates impact from Q2 catastrophes; estimated the impact of its catastrophe losses in Q2 to be in the range of $145 to $160 mln before tax, or $2.08 to $2.30/share after tax (THG) 37.59 +0.28 : Co anounces the estimated impact of catastrophe losses for the second quarter of 2011. The Hanover estimated the impact of its catastrophe losses in the second quarter to be in the range of $145 to $160 million before tax, or $2.08 to $2.30 per share after tax. The company previously announced estimated catastrophe losses for the month of April to be between $70 and $85 million before tax. Further catastrophe losses in the second quarter resulted primarily from a series of tornadoes that affected Joplin, Missouri and surrounding states at the end of May, and to a lesser extent, from tornadoes and wind damage on May 31 - June 1 in Massachusetts.

4:23PM Parkway Prop sells joint venture asset in Orlando for $23 mln (PKY) 17.26 +0.07 :

4:23PM Tessera Tech lowers Q2 rev guidance below consensus (TSRA) 17.16 -0.15 : Co announced preliminary total revs $71 mln vs $77.05 mln Capital IQ Consensus. This compares to the previous second quarter 2011 guidance of between $75.5 million and $78.5 million in total revenues. "We now expect our preliminary Micro-electronics revenue will be approximately $61 million, which compares to the previous second quarter Micro-electronics revenue guidance of between $65.0 million and $67.0 million."

4:20PM Schiff Nutrition appointed Jennifer Steeves-Kiss Senior Vice President - Chief Marketing Officer, effective July 1, 2011 (WNI) 11.26 +0.14 : Steeves-Kiss led consumer products marketing and brand management teams for the past 17 years at P&G.

4:19PM Xfone approved a direct rights offering (XFN) 1.25 +0.07 : Co has approved a direct rights offering in which stockholders will receive non-transferable and non-tradable rights to purchase one additional share of common stock for a subscription price of $0.30 per share. Co estimates that it will raise approximately $5 million in the Rights Offering. Xfone stockholders who exercise their Rights in full may also exercise an over-subscription privilege to purchase, on a pro rata basis, a portion of the unsubscribed shares, at the same price of $0.30 per share, subject to certain limitations. Each subscribing stockholder will also have a "step-up privilege" allowing such stockholder to subscribe for one (1) additional share of common stock in lieu of any fractional share that would have been granted in the Rights Offering.

4:17PM DragonWave misses by $0.08, beats on revs; guides Q2 revs below consensus (DRWI) 5.47 -0.85 : Reports Q1 (May) loss of $0.28 per share, $0.08 worse than the Capital IQ Consensus Estimate of ($0.20); revenues fell 77.4% year/year to $11 mln vs the $10.8 mln consensus. Co issues downside guidance for Q2, sees Q2 revs of $12-15 mln vs. $16.05 mln Capital IQ Consensus Estimate. Revenue from customers within North America was $8.2 million, compared with $42.9 million in the first quarter of the prior fiscal year. DragonWave had two customers who generated more than 10% of revenue in the first quarter of fiscal year 2012.

4:16PM Cabela's Credit Card Master Note Trust successfully completed the sale of $300 mln of Asset-Backed Notes, Series 2011-II (CAB) 27.66 -0.17 : The securitization transaction included the issuance of $155 million of Class A-1 Notes, which accrue interest at a fixed rate of 2.39% per year, and $100 million of Class A-2 Notes, which accrue interest at a floating rate equal to one-month LIBOR plus 0.60% per year.

4:16PM Catalyst Health Solutions raises FY11 guidance above consensus (CHSI) 59.12 +1.30 : Co raises FY11 EPS guidance to $2.30-2.40 vs. vs. $2.26 Capital IQ Consensus, up from $2.20-2.39; raises revs guidance to $5.1-5.3 bln vs. $4.95 bln consensus, up from $4.6-4.8 bln. Co said, "over the past several months, Catalyst and WHI associates have developed detailed integration plans and identified best practices. The Day-1 transition proceeded smoothly. We are confident that the integration of WHI will be completed within the next eighteen months and the Company will reach its stated financial targets. During the initial six months of integration, the Company's primary focus will be client retention, contract optimization, and clinical and formulary management. During the following twelve months, management expects to integrate information technology systems, business processes and adjudication platforms."

4:13PM AMR: American Eagle reported a June traffic increase of 18.6% YoY (AMR) 5.29 -0.05 : American Eagle reported a June traffic increase of 18.6% year over year as capacity increased 16.7%. June load factor was 78.3%, an increase of 1.2 points compared to the same period last year.

4:12PM Daegis (formerly Unify UNFY) also completes debt and equity financing (DAEG) 2.01 +0.11 : Co announced the closing of a $24 million facility and a $4 million preferred stock offering with an existing shareholder. The Wells Fargo Capital Finance facility is comprised of a 4-year senior secured term loan A of $12 million, term loan B of $4 million and a revolver of $8 million at a blended interest rate substantially less than the Company's current debt facility with Hercules Technology Growth Capital. Proceeds of the Wells Fargo Capital Finance facility were used to fully repay Hercules.

4:08PM Star Bulk Carriers appoints Zenon Kleopas as the co's new CEO (SBLK) 2.02 -0.01 : Kleopas served as General Manager of Combine Marine before joining Star Bulk.

4:06PM EnerNOC acquires Energy Response; announces 240 megawatt commitment for 2012/2013 delivery year in Western Australia (ENOC) 16.22 +0.41 : Co anticipates this acquisition to be dilutive to earnings in 2011 and 2012, and accretive beginning in 2013.

4:06PM Excel Maritime Carriers has entered into period charter fixtures for another two vessels in its Kamsarmax/ Panamax fleet (EXM) 3.20 +0.01 : Co announces it has entered into period charter fixtures for yet another two vessels in its Kamsarmax/ Panamax fleet. Namely, the Company has agreed the employment of M/V Iron Vassilis, a 2006 built Kamsarmax with 82,257 dwt carrying capacity at a gross daily rate $14,000, and of M/V Happy Day, a 1997 built Panamax with 71,694 dwt carrying capacity at a gross daily rate of $13,000, for a period of 11 to 14 months with quality European charterers.

4:06PM Everest Re Group provides preliminary Q2 catastrophe loss estimates of $80 mln (RE) 81.92 +1.20 : Co announced that it expects to incur net catastrophe losses of $80 mln, after reinstatement premiums and taxes. This estimate is based on an effective tax rate of 20%. This estimate provides for events that occurred during Q2, primarily the severe weather that impacted large areas within the U.S. during April and May and the wildfires in Alberta, Canada. In addition, the estimate reflects updated loss provisions for Q1 catastrophe losses. The co currently anticipates that losses related to the most recent New Zealand earthquake will be less than $10 mln and therefore would not be reported as part of its current catastrophe loss provision. Events with expected losses below this threshold are included as part of the co's attritional losses.

4:05PM Guess? announced that it has entered into a five-year $200 million secured revolving credit facility (GES) 43.58 +0.49 : Co announced that it has entered into a five-year $200 million secured revolving credit facility with a global and strategic syndicate of banks led jointly by J.P. Morgan Securities LLC and Bank of America Merrill Lynch. This new credit facility, which includes an additional $100 million accordion feature, replaces the Company's existing $85 million revolving line of credit which was scheduled to mature September 30, 2011.

4:04PM Affymetrix issues downside guidance (AFFX) 8.00 +0.11 : Co issues downside guidance for Q2 (Jun), sees Q2 (Jun) revs of 64-65 vs. $74.08 mln Capital IQ Consensus Estimate. Co expects product revenue for the second quarter of 2011 to be approximately $58-59 million, including consumable sales of approximately $55 million and instrument sales of approximately $3.5 million. "During the second quarter we experienced decreased sales to academic customers across all regions, particularly in North America... Our consumable revenue was down by about 10% from last year... We are clearly disappointed with our revenue this quarter... However, we still expect to generate approximately $10 million in positive cash-flow for the second quarter and to have a net cash position of more than $155 million."

4:03PM Allscripts-Misys Healthcare announced Aria Health selects Allscripts Community Record to share health information between Philadelphia area hospitals and physicians (MDRX) 20.12 +0.31 :

4:03PM Vaughn Foods (FOOD.ob) to be acquired by Reser's Fine Foods for $18.3 mln total in cash, not per share (FOOD) 0.67 : Under the terms of the agreement, Vaughan will become a subsidiary of Reser's. Immediately following the closing, Vaughan stockholders will receive $1.58 per Vaughan share, which represents a 285 percent premium to the Vaughan closing stock price on May 13, 2011, the last trading day prior to the execution of the Term Sheet, when agreement was reached regarding the transaction consideration.

4:03PM Exelixis provides update on Cabozantinib development activities; Timeline for reporting top-line data from EXAM extended by ~3 months (EXEL) 9.20 +0.08 : Co announces an update to the timing for reporting top-line data from the ongoing phase 3 pivotal trial of cabozantinib in patients with medullary thyroid cancer, known as the EXAM trial. The company has extended the timing to report top-line data from this trial by approximately three months. The timeline is being extended from the middle of this year to provide additional time for the trial to reach the pre-specified number of progression-free survival events required for un-blinding of the data. "We continue to be optimistic about a positive outcome for the EXAM trial. We believe the activity that cabozantinib has demonstrated in MTC as part of the ongoing phase 1 clinical trial of cabozantinib in this indication as well as the selection of MTC patients with rapidly progressing disease increase the possibility of a positive outcome for the EXAM study."

4:02PM Asia Entertainment announced unaudited Rolling Chip Turnover for the month of June 2011 at its VIP rooms in Macau was a record US$1.504 bln (AERL) 7.81 -0.02 : Co announces unaudited Rolling Chip Turnover for the month of June 2011 at the company's VIP rooms in Macau was a record US$1.504 billion, up 117% year-over-year despite the closure of the VIP room at MGM on June 15, compared to US$693 million for the month of June 2010. This compares with a year-over-year increase in gross gaming revenue for Macau of 52% for June 2011. AERL's Rolling Chip Turnover improved 10.4% sequentially from May to June while gross gaming revenue for Macau declined 14.4% for the same period; for the first six months of 2011 in Macau, AERL's Rolling Chip Turnover was US$8.406 billion (an average of $1.401 billion per month), up 94% year-over-year, compared to US$4.340 billion for the first six months of 2010.

4:02PM Quepasa Announces over 2 mln Installs of Its First Social Gaming Title (QPSA) 8.00 +0.30 : Co announces that its first proprietary social gaming title had achieved over two million installs.

4:01PM MaxLinear secures strategic IP licenses for MoCA and connectivity technologies (MXL) 8.70 -0.25 : Co announced that it has made a substantial investment to expand its TAM by securing IP and software related to connectivity technologies, including the acquisition of MoCA(Multimedia over Coax Alliance) Physical Layer IP and Connectivity related software IP licenses. Co said, "The investment in these technologies represents exciting progress in MaxLinear's TAM expansion effort into new communications platforms. In addition, it expands our footprint on Broadband platforms where we have already established a strong presence."

4:01PM MarketAxess announces monthly volume statistics for June 2011 of $46.0 bln (MKTX) 25.69 +0.08 : Co announces total monthly trading volume for June 2011 of $46.0 billion, consisting of $28.9 billion in U.S. high-grade volume, $3.0 billion in eurobond volume, and $14.1 billion in other volume.

4:00PM AMR reports June traffic increased 1.3% y/y in June (AMR) 5.29 : Capacity increased 1.8 percent year over year, resulting in a load factor of 86.3 percent compared to 86.8 percent in the same period last year. International traffic increased by 4.8 percent relative to last year on a capacity increase of 3.8 percent. Domestic traffic decreased 0.9 percent year over year on a capacity increase of 0.5 percent.

4:00PM Atmel files patent infringement suit against Infineon Technologies (IFNNY) (ATML) 14.31 -0.17 : Co announces that it had sued Infineon Technologies and Infineon Technologies North America for patent infringement in the United States District Court for the District of Delaware. Atmel's court filing alleges that Infineon's 8-bit, 16-bit and 32-bit microcontrollers infringe six Atmel patents. The allegedly-infringing Infineon products are for use in various industrial, commercial and automotive applications.

4:00PM Unum Group non-executive chairman Fossel retiring; Ryan named non-executive chairman (UNM) 26.04 +0.24 : Co announces that Jon Fossel, is retiring as non-executive chairman of the board of directors. William Ryan has been named non-executive chairman of the board of directors, succeeding Fossel. The transition will take effect on September 30, 2011, when Fossel marks five years of service.

3:47PM Netflix sees some late day strength as buyers take it back up into yesterday's gap up momentum/all-time highs of $291.23 (NFLX) 291.55 +2.01 :

3:43PM Earnings Calendar (SUMRX) : Today after the close look for the following companies to report:

* AIR and OCZ

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

* HELE, HITK, ISCA, and PSMT.

3:35PM Trinity Industries announces the successful refinancing of TRIP's $963 mln warehouse loan (TRN) 36.49 +0.38 : Co announced that its subsidiary, Trinity Industries Leasing completed the refinancing of TRIP's $963.3 mln Warehouse Loan with a $1 bln package of medium-term and long-term financing. Proceeds from the refinancing will be used to fully repay and terminate the Warehouse Loan, cover the cost to terminate certain interest rate hedges related to the Warehouse Loan, and fund issuance expenses related to the refinancing. As part of the refinancing, a newly-formed subsidiary of TRIP Holdings entered into a multi-tranche railcar financing in the aggregate amount of ~$857.0 mln at a blended coupon of ~5.4% and a weighted average life of ~8 years at closing.

3:33PM New Hampshire Thrift Banc appointed Laura Jacobi as CFO (NHTB) 13.23 -0.22 : Jacobi succeeds Stephen R. Theroux who will continue to serve as Vice-Chairman, President and Chief Operating Officer.

3:06PM Relative Sector Weakness as stock indices slip slightly off afternoon bounce highs (TECHX) : Sectors that have been underperforming the market in recent trade include: Oil Service OIH, Commodity Index, Materials XLB, Ag/Chem MOO, Solar TAN, Silver SLV, Gold Miners GDX, Semi SMH.

3:05PM Index Change Reminders (INDXCH) : Approach Resources (AREX) will replace California Pizza Kitchen (CPKI) in the S&P SmallCap 600 index after the close of trading today.

3:04PM Torch Energy comments on unusual market activity; co policy is not to comment on unusual market activity or rumors (TRU) 2.18 +0.58 :

3:00PM First Community to expand its residential mortgage business unit with acquisition of assets of Palmetto South Mortgage Corporation (FCCO) 6.91 -0.03 : The transaction is scheduled to close effective July 31, 2011 and is structured as an asset purchase. The acquisition price will be paid during a three year earn out period with the actual amount calculated based on the achievement of certain profitability metrics.

2:46PM Allegiant Travel receives approval from FAA to operate Boeing (BA) 757 aircraft type (ALGT) 49.20 -0.30 : The next focus for the co will be to gain Extended-range Twin-engine Operational Performance Standards 180 certification and Flag Carrier status from the FAA for the 757-200. Both are required for flying to Hawaii, which the co anticipates achieving in summer 2012.

2:36PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled lower by $0.24 to $96.65, natural gas shed 12 cents to close at $4.22, RBOB gasoline finished up 1.1 cents to $2.988, while heating oil shed 3 cents to end at $2.956 (all Aug contracts).

2:31PM Unify Corp will change its name to Daegis effective after the close; will trade under the symbol DAEG (UNFY) 1.99 +0.09 :

2:30PM Bristol-Myers and Innate Pharma announce global license agreement for an investigational immuno-oncology biologic (BMY) 29.22 +0.08 : The cos announced a global agreement for the development and commercialization of IPH2102, a novel antibody in Phase I development for the treatment of cancer. Under the terms of the agreement, Innate Pharma will grant to Bristol-Myers Squibb exclusive worldwide rights to develop, manufacture and commercialize IPH2102 and related compounds blocking KIR receptors. The agreement covers all potential indications for IPH2102. Innate Pharma will continue to develop IPH2102 in acute myeloid leukemia through to the end of Phase II. Innate Pharma will also provide pre-clinical support for the development of IPH2102. Bristol-Myers Squibb will fund the development of IPH2102, make an upfront payment of $35 mln and additional payments of up to $430 mln, depending on the achievement of pre-specified milestones during the development and commercialization period, as well as pre-specified tiered double-digit royalty payments on worldwide net sales.

2:10PM Stock indices slip further off midday highs -- Dow +35, S&P -0.7, Nasdaq Comp +2.6 (SPY) : Intraday support for the S&P at 1337 is being probed with a secondary level near 1335.

2:06PM Altria's Philip Morris USA sues 34 New York Retailers for selling counterfeit cigarettes (MO) 26.89 +0.30 :

2:04PM Viacom's Paramount Pictures will launch an in-house animation division, with its first title slated for release in 2014 (VIA) 58.90 +0.23 :

2:03PM General Dynamics unit awarded enterprise communications services contract by Defense Intelligence Agency; task order value is $178 mln for five years if all options are exercised (GD) 74.84 -0.06 :

2:02PM Stage Stores announces $250 mln credit facility that will mature on June 30, 2016 (SSI) 17.53 -0.27 : Borrowing availability under the Credit Facility may be used for working capital and general corporate purposes, as well as to support the Company's letters of credit requirements.

2:02PM Delta Air Lines reports June traffic; System traffic decreased 1.5% y/y on a 0.2% increase in capacity and load factor declined 1.4 pts to 86.3% (DAL) 9.15 +0.03 :

1:56PM AAR Corp receives $24 mln in shelter orders from U.S. Army (AIR) 28.78 +0.45 : Co has been awarded a five-year contract to provide lightweight, multi-purpose shelters for the U.S. Army, valued up to $14 million. This is AAR's first award on this platform.

1:55PM Arkansas Best confirms that it won appeal against Teamsters, YRC (YRCW) and Trucking Management (ABFS) 26.56 +2.22 : Co confirmed that the U.S. Court of Appeals reversed and remanded a lower court's previous dismissal of ABFS's lawsuit against the International Brotherhood of Teamsters, YRCW Trucking Management and other related entities. When the original lawsuit was filed in November 2010, the co sought to have the lower court create an appropriate grievance review committee to resolve the dispute, or to have the contract amendments benefiting only YRC declared null and void by the court, as required by the NMFA. The co also sought an award of monetary damages estimated to be ~$750 mln. The co will continue to seek that relief on remand. See the 10:30 comment related to co's plan to increase rates.

1:34PM COMEX Metals Closing Prices (COMDX) : August gold settled higher by "6.30 to "529, Sept silver gained 56 cents to finish at $35.97, while Sept copper shed 1.25 cents to end at $4.326.

1:29PM Midday slippage with Dow +42 sliding 30 points off its high, S&P -0.3 is back in the red after failing to clear last week's high -- Nasdaq Comp +6.3 (SPY) :

1:15PM S&P +1.1 thus far fails to confirm break of last week's high of 1341.01 and edges back -- session high 1340.94 (SPY) : Dow +55, Nasdaq Comp +8.

1:00PM Honeywell will invest $33 mln in its Baton Rouge manufacturing facility to produce a low-global-warming material used in insulation and aerosols (HON) 59.92 +0.46 :

12:51PM Titan Intl to implement price increase (TWI) 25.73 +0.65 : Co will implement a price increase for the aftermarket on all Titan branded tires and Titan manufactured Goodyear branded farm tires effective on all shipments on or after August 1, 2011. The increase of up to 8 percent will offset rising raw material, energy and transportation costs. Certain tire prices may rise in excess of 8 percent due to realignment and positioning of the product.

12:51PM Stock indices set minor new highs -- Dow +58, Nasdaq Comp +9.3, S&P +1.8 lags as it holds slightly under Tues/last wk highs (SPY) :

12:39PM SPDR Retail hovering slightly under session high and its May/52-wk peak at 54.71/54.72 (XRT) 54.68 +0.18 : URBN +3.4%, CHRS +3.8%, TSCO +0.5%, WMT +0.9% (nearing its 200 sma at 54.00), ANF +1.3%, TGT +1.5%, FDO +1.2%, DKS +0.8%, GPS +0.5%, GES +1.2%, ODP +1.2%, PLCE +1.3%, PCLN +0.2%.

12:38PM Acorn Energy's US Seismic Systems receives order for custom downhole seismic arrays (ACFN) 4.16 +0.02 : Co announced that it has received an order for custom downhole seismic systems based upon its revolutionary fiber optic sensor technology from a leading international oilfield seismic equipment co. The value of this contract to USSI once in full production is anticipated to be ~$6 mln annually. This is the third significant order received by USSI from a major oilfield equipment company in 2011.

11:59AM iShares DJ Transports hovering near session high of 100.51 (IYT) 100.50 +1.18 : Noted in the 11:23 update that the Dow Transports was probing its 52-wk high from May. In recent action the IYT has notched a new high of 100.51 leaving it modestly under its May/52-wk peak at 100.67.

11:55AM Middleby Acquires Danfotech to expand its food processing platform; financial terms not disclosed (MIDD) 96.23 +0.04 :

11:44AM Stock indices run to new session highs, Nasdaq Comp +5.8 and Dow +39 edge above Tues highs -- S&P +0.8 (SPY) : Relative sector strength in recent action has been noted in Transports IYT, Materials XLB, Finance XLF, Semi SMH, Housing XHB, Rail, Disk Drive.

11:39AM NeuroMetrix reports successful marketing launch of NC-stat|DPNCheck at the American Diabetes Association sessions (NURO) 0.42 +0.01 : In addition to marketing efforts at the exhibition booth, the Company met its clinical and scientific objectives for the meeting. There was a positive and informative meeting of the diabetes scientific advisory board during which the board further developed plans for clinical studies that the Company believes will support expanded market adoption and eventually reimbursement coverage by commercial and governmental payers.

11:36AM Silver Trust ETF sets new high of 35.33, eyeing 50 ema again at 35.40 (SLV) 35.30 +0.67 : The SLV stalled near its 50 ema during early and mid-June rebound attempts -- PAAS +1%, SIL +1.9%, SLW +3.6%, SSRI +1.3%.

11:30AM Gold, silver continue to push higher (COMDX) :

* Gold now up $21.360 to $1534.00,
* Silver higher by 72 cents to $36.13.

11:28AM Oil Service HOLDRS Trust pushing back toward session/morning rebound high at 154.06 (OIH) 153.86 -0.14 : NBR, HAL, SLB, BHI, RIG, CAM, DO, ESV, NE, NOV, RDC.

11:23AM Dow Transports -TRAN- notches new session high of 5555, last wk's peak is at 5558 (IYT) : Note that its 52-wk high from May is slightly above at 5565 -- CNW, LSTR, UPS, UNP, FDX, CHRW.

11:16AM Gold breaks above $1530; now higher by $18.40 to $1531.10 (COMDX) :

11:07AM Apple extends yesterday's break above Feb-June trendline, workinging toward two month high from early June at 352.13 -- session high 351.40 (AAPL) 351.01 +1.58 :

11:07AM Fuwei Films signs supply letter of intent with Coca-Cola (FFHL) 4.29 +1.02 : Co announced that its wholly-owned subsidiary, Fuwei Films signed a letter of intent on PETG heat shrinkable label film supply for the second half of this year with China Bottlers Procurement Consortium, the authorized procurement service provider for the Coca-Cola Bottling (COKE) system in China, on June 30, 2011. As the leading beverage supplier in the world, Coca-Cola plans to take the lead in replacing PVC non-carbonated beverages labels with PETG films in China starting in the second half of this year, in order to be environmentally-friendly.

11:05AM SAVVIS Comm: SiteMinis announces partnership with Savvis (SVVS) 39.65 +0.05 : The parternship will enable SiteMinis to offer mobility-enabled hosting solutions to its customer base. Based on this agreement, Savvis also will leverage SiteMinis' technology to extend mobile web solutions to its customers.

11:02AM Echo Global Logistics acquires Advantage Transport for an undisclosed amount; expected to be immediately accretive to earnings (ECHO) 18.41 +0.37 : In calendar year 2010, Advantage Transport generated ~$26 mln in gross revenue and is expected to be immediately accretive to Echo's earnings.

10:58AM Apple lifts to morning highs as buyers begin to try and reclaim the key $350.00 area (AAPL) 350.30 +0.75 :

10:53AM S&P -2.2 and Nasdaq Comp 2.9 set new morning bounce highs, Dow +8.6 probing a similar level (SPY) :

10:32AM United Tech hovering near session high of 90.44 and slightly under yesterday's multi-wk high of 90.57 (UTX) 90.40 +0.89 : Note that its May/52-wk high is just above at 90.67.

10:30AM Arkansas Best will revise its general rates and charges for its freight division; Rates will increase by about 6.9% (ABFS) 24.55 +0.16 :

10:29AM Currency Chart Watch: Dollar Index pushes slightly above overnight/early session highs (TECHX) : As shown in The Technical Take the Dollar Index has been firmly uncertain for the last two months as it has formed a narrowing trading range on both sides of its 50 sma/ema. The next resistance of interest is at its 2010-2011 trendline which held on an intraday basis Mid-June and on a close basis later in the month (Click for chart). It comes into play today in the 75.30 area (session high 75.18).

10:22AM Crude oil pulls back to near overnight lows at $95.90; currently off 74 cents to $96.15 (COMDX) :

10:18AM Windstream expands high-bandwidth ethernet internet in 11 new markets (WIN) 13.17 -0.04 : The new markets are Akron, Columbus and Dayton, Ohio; Indianapolis, Ind.; Wichita, Kan.; Tulsa and Oklahoma City, Okla.; Northwest Arkansas; Augusta, Ga.; Baton Rouge, La.; and Mobile, Ala.

10:16AM Dow -19 joins S&P -5.4 and Nasdaq Comp -10 at new session low (SPY) :

10:15AM Humana jumps higher intraday on pickup in volume, breaks above its June peak of 83.40 to set a new 52-wk high of 83.83 (HUM) 83.59 +0.57 :

10:07AM S&P -5.3 and Nasdaq Comp -9.8 slide to new session lows, Dow -11 still hovering just above its opening low (SPY) :

10:02AM General Electric unit and Endosense entered into a joint development agreement (GE) 18.97 -0.06 : Endosense and GE Healthcare have entered into a joint development agreement to integrate the contact-force data provided by Endosense into GE's CardioLab electrophysiology recording and Innova imaging platforms. By combining their technologies, the companies are working on the development of an all-in-one system for performing catheter ablation procedures for the treatment of cardiac arrhythmias.

10:01AM GeoEye and Russian Partner ScanEx sign multi-year, multi-million-dollar imagery agreement (GEOY) 37.29 -0.36 : GeoEye will deliver high-resolution IKONOS imagery from its extensive color imagery archive and new imagery to be collected through 2012. This new agreement expands the 2010 agreement where GeoEye provided ScanEx over two million square kilometers of imagery. The scope of this new agreement underscores the international commercial market's increasing demand for high-resolution satellite imagery and services.

10:01AM Stock indices edge up slightly following ISM data but still range trading -- Dow +8.5, S&P -2.6, Nasdaq Comp -23 (SPY) :

10:01AM Medgenics extends collaboration with Baxter (BAX) on development of factor VIII biopump (MDGN) 3.92 : Under the extension, confirmatory studies will be conducted implanting Factor VIII Biopumps in mice. Baxter will bear the costs of these studies including the preparation and delivery of the necessary Biopumps. During the extended agreement, which will expire by September 30, 2011, Baxter has the opportunity, to exercise an exclusive option for 6 months to negotiate with Medgenics an agreement for commercialization of the Biopump Factor VIII technology.

9:51AM Opening Point Gainers/Losers (TECHX) : Point Gainers: SODA (+5.25), GOOG (+5.22), VRUS (+4.06), TZOO (+2.67), LNKD (+2.44), FFIV (+2.04), VHC (+2.00), SZYM (+1.40), ILMN (+1.22), JVA (+1.12), WYNN (+0.99), GLD (+1.11), TGT (+1.14)

Point Losers: WLT (-3.85), CSH (-2.60), OVTI (-2.57), SINA (-2.79), OPEN (-1.72), VRTX (-1.69), DB (-1.52), BIDU (-1.77), APA (-1.51), SBNY (-1.51), AAPL (-1.52), VECO (-1.52), GS (-1.31)

9:51AM Financial Select Sector SPDR slightly extends gap down start but holding above support (XLF) 15.34 -0.15 : The XLF stalled yesterday at its declining channel, 200 sma and March/May lows (Click for chart). This morning it gapped down and recently extended to 15.30. Although it has put together a sizeable early retreat, it is holding above a support of importance at its first thrust high (15.19) off its June lows -- BAC -2.5%, JPM -1.9%, AXP -0.7%, COF -1.2%, USB -1.1%, WFC -1.8%, MS -1.1%, GS -0.9%, KBE -1.1%.

9:41AM Energy Focus names Mark Plush Chief Financial Officer (EFOI) 0.48 +0.01 : Plush was Vice President and Chief Financial Officer of Keithley Instruments (acquired in 2010 by DHR).

9:40AM FirstEnergy Electric generation discount extended to August 31, 2011, for Dayton Power & Light customers (FE) 43.91 -0.18 : Customers now have until August 31, 2011, to enroll in FirstEnergy Solutions' offer of 7.59 cents per kilowatt-hour on electric generation through December 2013.

9:37AM ValueClick plans to increase its workforce by over 10% (VCLK) 17.01 +0.18 : ValueClick is now hiring in 13 locations in North America with additional openings in Europe and Asia. For more information and to apply please visit our careers page.

9:37AM Wynn Resorts edges above its May/previous 52-wk high at 151.73 (WYNN) 152.07 +0.91 :

9:36AM Caterpillar displaying relative strength, probing last week's high at 109.17 (CAT) 109.17 +0.74 :

9:33AM Diebold renews $500 million credit facility (DBD) 31.69 +0.02 : Co entered into a $500 million credit facility agreement with certain credit relationship banks. This facility replaces a previous facility of approximately the same amount which was scheduled to expire in October 2012. The renewal improves existing covenants and includes an all-in reduction in borrowing cost of 150 basis points, which represents an annual savings of approximately $5 million at current debt levels. The unsecured credit facility is for a term of five years and expires in June 2016.

9:32AM XO Group announces Ijie.com and SINA (SINA) partnership to launch wedding channel in China (XOXO) 10.39 +0.08 :

9:31AM Good Times Restaurants reports Q3 sales +5.1%; comps +6.1% (GTIM) 1.60 0.00 : "We are excited about several permanent and limited time offer products that we plan to bring to market during the several months, along with the re-engineering of a few current products to improve quality and our overall food cost margin."

9:30AM Telvent announced earlier awarded a contract by the Spanish National Energy Commission (TLVT) 39.86 +0.01 : Co has been awarded a contract by the Spanish National Energy Commission (CNE) to provide vital technical support for the authority's institutional IT systems. Telvent will help guarantee top performance of the systems and 24/7 availability as both the CNE IT infrastructure and the number of users grow significantly.

9:27AM Abraxas Petroleum Corp. announces purchase of drilling rig; will be ready to spud its first well in October 2011 in the North Fork area (AXAS) 4.15 :

9:24AM Warner Music Group stockholders approve adoption of merger agreement (WMG) 8.24 : Under the terms of the Merger Agreement, the co's stockholders will receive $8.25/share in cash at the closing of the transaction. The co currently expects the merger to be completed in the third calendar quarter of 2011.

9:17AM Signature Bank prices 4.1 mln shares of common stock at $56.25 (SBNY) 58.53 :

9:16AM Aerosonic receives new order from Korea Aerospace Industries (AIM) 3.21 : Co announces that it has received a new purchase order from Korea Aerospace Industries in support of its T50 Golden Eagle jet trainer sale to Indonesia. The order is to supply air data systems that include its integrated multifunction probe and related equipment for the production of the jet trainer aircraft. These additional shipments to KAI will begin in March 2012, and are planned to ship concurrently with existing orders.

9:15AM Cedar Fair reports 2% increase in YoY revenues through the July 4th weekend to $372 mln (FUN) 20.65 : This period traditionally represents ~35% of the Company's full-year revenues. During this same period, both attendance and average in-park guest per capita spending increased slightly, while out-of-park revenues, including its resort hotels, were up ~3%. The co's CEO says he believes 2011 growth goals of revenues between $975 mln to $1.0 bln and full-year adjusted EBITDA in the range of $350 mln to $370 mln are attainable.

9:13AM Grupo Aeroportuario del Pacifico reports passenger traffic decrease of 4.1% for June 2011 (PAC) 40.97 : Co announces terminal passenger traffic figures for the month of June 2011 compared to traffic figures for June 2010. During June 2011, total terminal passengers decreased 4.1% compared to the previous year. Domestic passenger traffic decreased 5.6%, while international passenger traffic decreased 1.1% compared to June 2010.

9:05AM US Airways reports June traffic; RPMs +2.5% YoY (LCC) 8.46 : Co announced mainline revenue passenger miles for the month were 5.7 bln, up 2.5% YoY. Mainline capacity was 6.6 bln available seat miles, up 2.3% YoY. Mainline passenger load factor was an all-time record 87.1%, up 0.2 points YoY.

9:04AM China Metro-Rural states that its policy is not to comment on unusual market activity (CNR) 1.67 : Co announces that its policy is not to comment on unusual market activity. In view of the unusual market activity in the ordinary shares of the Company, the NYSE Amex has contacted the Company in accordance with its usual practice; the Company stated that it is our company policy not to comment on unusual market activity.

9:03AM Apricus Biosciences has sold its wholly-owned subsidiary, Bio-Quant, to BioTox Sciences (APRI) 4.82 : Under terms of the agreement, Apricus Bio will receive a minimum of $5 million in up-front and future earn-out payments, with the potential for as much as $20 million over the next ten years, based on BioTox's currently projected revenues. Additionally, Apricus Bio has retained all NexMed-related research conducted by Bio-Quant as well as the profitable Bio-Quant diagnostic kit business.

9:02AM US Geothermal completed repair of production well RRG-7 at the Raft River geothermal power project (HTM) 0.69 : The repair work was completed by U.S. Geothermal Services Inc., a wholly owned subsidiary, according to plan and budget. Previously well RRG-7 experienced a leak between two overlapping casing strings that allowed cooler geothermal fluid to flow into the well. The repair involved removing the production pump and then completing a "squeeze" job whereby grout was injected into the leaking lap joint.

9:01AM Safeguard Sci to acquire 36% interest in Penn Mezzanine (SFE) 18.81 : Co announces that it has signed a definitive agreement to acquire a 36% ownership interest in Penn Mezzanine, a mezzanine platform which commenced operations in early 2010 with over $30 mln of initial fund capital. In addition to this capital, co will deploy up to $30 mln over a several year period in lending opportunities that meet certain predefined criteria alongside existing and future Penn Mezzanine funds.

8:59AM Epoch Holdings reports AUM of $17.1 bln as of June 30; up 9% QoQ (EPHC) 17.94 :

8:53AM Gold jumps ~4 points to fresh highs at $1522.90; now up $9.80 to $1522.90 (COMDX) :

8:48AM On The Wires (WIRES) :

* Itron (ITRI) announced that it has installed more than 150,000 Itron gas meter communication modules in the greater Houston area for the natural gas distribution subsidiary of CenterPoint Energy.
* CPI Aerostructures (CVU) announced that it has received purchase orders from Spirit AeroSystems for wing leading edge assemblies for the Gulfstream G650 aircraft that extend CPI Aero's backlog through July 2012.
* Cambrex (CBM) and Tillotts Pharma AG announced they have entered into a Development and Commercialization Agreement for a proprietary mesalamine-based technology for use in the treatment of Inflammatory Bowel Disease.

8:46AM General Cable: The European Commission alleges two affiliates in Europe engaged in violations of competition law for a limited period of time in the underground power cables business (BGC) 43.03 : The European Commission has issued a Statement of Objections in relation to its ongoing competition investigation to a number of wire and cable companies in the submarine and underground power cables businesses, including General Cable. A Statement of Objections is a procedural document in which the European Commission communicates its preliminary view in regard to possible infringement of European competition law and allows the companies identified in the Statement to present procedural and substantive arguments in response before a final decision by the Commission. The Statement of Objections issued to General Cable alleges that two affiliates in Europe engaged in violations of competition law for a limited period of time in the underground power cables business. As previously disclosed, General Cable only recently entered the submarine power cables business in March 2009 through its subsidiary in Germany, Norddeutsche Seekabelwerke GmbH & Co, which was acquired in 2007. The co is reviewing the Statement of Objections and intends to defend itself against the allegations. The co also stated that it has not been named as a party in any other cases or proceedings which have been brought by competition authorities in various countries against companies in the submarine and underground power cables businesses.

8:41AM Gold testing overnight highs; now up $5.80 to $1518.50 (COMDX) :

8:41AM On The Wires (WIRES) :

* China New Borun (BORN) filed a Form 6-K confirming that it will continue its relationship with its existing audit team by engaging BDO China Shu Lun Pan Certified Public Accountants.
* Converted Organics (COIN) announced that TerraSphere Systems signed a new licensee for the Atlantic Provinces (New Brunswick, Prince Edward Island, Nova Scotia, Newfoundland and Labrador). Under the agreement, Eco-Leaf Farms will take over the license previously sold to Regional Growth Systems and will own an expanded license to utilize TerraSphere's advanced vertical farming technology, with exclusive rights to a territory which includes New Brunswick and the remaining Atlantic Provinces, to grow fresh produce for local communities.
* ePlus inc. (PLUS) announced that its subsidiary, ePlus Technology, has expanded its sales and engineering staff in the Richmond and Tidewater, VA regions.
* PokerTek (PTEK) today announced that its planned rollout of Blackjack Pro on the ProCore gaming platform continued to gain momentum, with several new installations going live at the end of June. The latest installations increase the total installed Blackjack Pro gaming positions to 96, with all available inventory now fully deployed on cruise ships and land-based casinos.
* Acme Packet (APKT) announced that Philippine Long Distance Telephone Company has extended its deployment of Acme Packet session border controllers to transition its international interconnects from circuit-switched to IP connections and add more network capacity for its growing international wholesale services.

8:39AM Arabian American Developmnt announces new investment partner in Al-Masane Al-Kobra mining company (ARSD) 4.04 : Co announces that the Arab Mining Company (ARMICO) has invested US $37.3 million, acquiring five million shares, or 10% interest in Al-Masane Al-Kobra Mining Company (AMAK). This capital provides AMAK with the financing necessary to start full production in early 2012. ARMICO paid 28 Saudi riyals per share for their 10% stake in the AMAK joint stock company. With 50 million shares now outstanding, this investment now values the Company at 1.4 billion Saudi riyals, or US $373 million. AMAK's Saudi partners now own 53% (previously 59%) and Arabian American now owns 37% (previously 41%). Further, this values the Saudi partners' stake at $198 million compared to their initial investment of $60 million, and ARSD's stake is now valued at $138 million or $107 million more than the amount currently carried on ARSD's balance sheet.

8:35AM Horizon Technology Finance provided portfolio update for Q2; new loans funded total $51 mln (HRZN) 15.83 : Gross new loan investments during the second quarter of 2011 increased to $51 million from $29 million in the first quarter of 2011. Less refinanced balances, net new loan investments totaled approximately $45 million.

8:34AM Synta Pharma presents data results showing that ganetespib has greater potency in small cell lung cancer cell lines compared to 17-AAG (SNTA) 4.91 : Co announces announced that results presented at the International Association for the Study of Lung Cancer Conference. "Results presented today show that ganetespib has greater potency in small cell lung cancer cell lines compared to 17-AAG and also suggests that ganetespib and doxorubicin may be synergistic when dosed sequentially. Intriguingly, ganetespib withdrawal after 48-72 hours of treatment induces precipitous cell death, suggesting that intermittent treatment may be an effective strategy in small cell lung cancer. These results are encouraging and suggest the potential for ganetespib single agent or combination clinical development strategies in small cell lung cancer."

8:34AM Pacific Ethanol (PEIXD) amended its marketing and asset mgmt agreements for four ethanol production facilities the company operates and whose ethanol the company markets (PEIX) 1.16 :

8:32AM Alterra Capital's New Point IV closes with more than $200 mln in commitments (ALTE) 22.28 : Co announces that New Point IV has closed with more than $200 mln of capital commitments. New Point IV is a sidecar vehicle established earlier this year to provide additional capacity to write property catastrophe collateralized retrocessional coverage.

8:30AM CytRx announces safe administration of high doses of Doxorubicin with its tumor-targeted drug, INNO-206 (CYTR) 0.71 : Co announces that its tumor-targeted doxorubicin conjugate, INNO-206, is delivering doxorubicin safely at doses over 4 times higher than the standard doxorubicin dose in the co's open-label Phase 1b safety and dose escalation clinical trial. No dose-limiting side effects in phase 1b clinical trial at more than a four-fold increase in standard Doxorubicin Dose. Co plans escalation to higher Doxorubicin doses to determine maximum tolerated dose. Initiation of INNO-206 Phase 2b clinical trial in advanced soft tissue Sarcomas planned for the second half of 2011. "The ability to administer dramatically higher doses of doxorubicin with INNO-206 could represent a major breakthrough in the treatment of various cancers in which doxorubicin is an important component of chemotherapy regimens. Although it is too early in the trial to assess clinical response, we believe that the ability of our conjugate formulation to safely deliver greater amounts of doxorubicin directly to the tumor compared with standard doxorubicin treatment can lead to improved efficacy. We plan to rapidly enter a Phase 2b clinical trial with INNO-206 in patients with soft tissue sarcomas in the second half of 2011 after completing this dose escalation safety study."

8:30AM Dendreon Announces Increased Capacity and Significant Reimbursement Decisions Supporting Broad Availability of Provenge (DNDN) 41.64 : Co announced significant milestones that support broad availability for on-label use of Provenge (sipuleucel-T), the first autologous cellular immunotherapy for the treatment of asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer (mCRPC). As part of this expanded access, Dendreon supports programs to provide comprehensive assistance for eligible patients seeking access to treatment with Provenge, including through grants to independent foundations and establishment of a patient assistance program for uninsured patients. Dendreon provides grants to independently run foundations providing qualifying patients with financial assistance for co-pays, co-insurance, and treatment-related travel costs.

8:30AM Apache announces record development well in North Sea (APA) 124.55 : Co says Charlie 4-3 commenced production at a rate of 12,567 BOPD. This well's initial production rate is the highest in the Forties since 1990 and follows the previously disclosed Charlie 2-2, which was completed in March with an IP rate of 11,876 b/d. Delta 3-5 commenced production at 8,781 b/d.

8:29AM Equinix announces proposed $500 million public offering of senior notes (EQIX) 102.30 : Equinix intends to use the net proceeds from this offering for general corporate purposes, which may include capital expenditures, repayment of its 2.50% convertible subordinated notes due 2012 upon maturity, working capital and potential acquisitions. Currently, however, Equinix does not have any agreements or understandings with respect to any such material strategic transactions or acquisitions.

8:15AM Commtouch Sftwr signed new agreements with Bullguard and with Neo Technology (CTCH) 3.39 : Co announced that amongst its second quarter achievements it enhanced its presence in the consumer Internet security market through its customers and offerings.

8:10AM National Financial Partners acquires Lapre Scali & Co Insurance Services; no terms disclosed (NFP) 11.50 : Lapre Scali states annualized revenue of ~$21 mln.

8:09AM Akzo Nobel N.V. planning UK manufacturing plant (AKZOY) 62.85 : Around EUR110 million is earmarked for the custom-built Decorative Paints site, designed to enable the company to deliver the most efficient supply chain operations, reduce operating working capital and accelerate its response to changing market and customer demands. The planned new facility is within 25 miles of AkzoNobel's existing site in Prudhoe, and is anticipated to be operational by the end of 2014.

8:07AM Incredimail announced that Rajiv Jain joined the Company as Chief Technology and Innovation Officer (MAIL) 7.12 :

8:03AM Hutchinson Tech. sees Q3 rev above consensus (HTCH) 2.27 : Co sees Q3 revs of ~$72 mln vs $66.57 mln Capital IQ Consensus Estimate. The co shipped ~118 mln suspension assemblies in Q3, up 15% QoQ. "our shipments over the last 9 weeks of our third quarter averaged ~10 million suspensions per week, and we expect this pace to continue into the fourth quarter. As a result, we currently expect our fourth quarter shipments to exceed our third quarter shipments. It appears that demand has shifted to some customer programs where we have stronger positions, and we believe that we are beginning to regain market share. We are leveraging available capacity to respond to the additional customer demand."

8:02AM Threshold Pharma receives National Comprehensive Cancer Network grant for Phase 1 trial of TH-302 in combination with Pazopanib (THLD) 1.73 : Co announced that The National Comprehensive Cancer Network awarded a grant to Dr. Herb Hurwitz to evaluate Threshold Pharmaceuticals' hypoxia activated prodrug, TH-302. In the coming quarter, the Duke Cancer Institute expects to commence a Phase 1 clinical trial to evaluate the safety and preliminary activity of TH-302 in combination with pazopanib in various advanced solid tumors. These trials are being funded by a $2 mln research grant to NCCN from GlaxoSmithKline (GSK) to evaluate the effectiveness of pazopanib in the treatment of a variety of solid tumors.

8:02AM Walgreens June Compareable Store Sales were +4.8%; total sales were +6.8% to $6.04 bln (WAG) 42.73 :

8:02AM Neptune Technologies confirms dividend of Acasti rights (NEPT) 3.77 : Co announces that, following the announcement by Acasti Pharma, a subsidiary of co, of a rights offering to its shareholders of record date July 5, 2011 and Neptune's announcement that the rights it would receive from Acasti would be transferred to its own shareholders at the Record Date in payment of a dividend on its common shares, NEPT announces that is has received on the date hereof a total of 38,617,733 rights pursuant to Acasti's rights offering. Accordingly, co confirms that the value of the dividend declared on its common shares is of CAD0.030421697 per common share and that this dividend is paid by the transfer to co's shareholder at the Record Date of 0.787 of an Acasti Right per common share of Neptune.

8:02AM Enzo Biochem scientists report on key discovery of novel targets for metabolic bone disease and other conditions (ENZ) 4.41 : Co reported that scientists from its Enzo Therapeutics group presented a podium session entitled "The Presence of Sulfated Tyrosine In Scelerostin and Dkk1 Ligands and its Effect on Wnt Signaling" at the WNT 2011 conference in Los Angeles Thursday, June 30, 2011. The work performed by Enzo's scientific team showed the existence of an entirely new class of modification of scelerostin and Dkk proteins which exhibit significant biological function. These proteins have been shown to inhibit the Wnt signaling pathway, and therefore mediate the development of numerous diseases. As an example, fluctuation in the level of these proteins has been shown to affect such serious conditions as osteoporosis. It has been reported that anti-scelerostin anabolics are among the most exciting development in the treatment of bone disorders.

8:01AM Capstone Therapeutics announces pre-clinical results with AZX100 in radiation and bleomycin models of pulmonary fibrosis; pulmonary anti-fibrotic effect demonstrated (CAPS) 0.29 : Co announces results from a pre-clinical study of AZX100 in a rodent model of radiation-induced pulmonary fibrosis. These data provide additional pre-clinical evidence supporting an anti-fibrotic effect of aerosolized AZX100 in lung tissue. Earlier studies in the bleomycin-induced model of pulmonary fibrosis showed that AZX100 treatment significantly reduced soluble and tissue collagen and inflammation at a 1 mg/kg single daily dose for 18 days. Treatment with AZX100 was also shown to modulate several pulmonary metabolic pathways' including circadian rhythm and cytoskeletal remodeling.

8:01AM Silicom announces design win for its intelligent external BYPASS switch; revs from win expected to ramp to a rate exceeding $1 mln/Year (SILC) 19.77 : Co announces a Design Win for its 10Gbps external Intelligent BYPASS Switch. The customer will provide the IBS as part of its latest network appliance family. According to the customer's current demand and projections, Silicom expects the Design Win to contribute significant revenues exceeding $1 million per year.

8:01AM Rosetta Genomics announces 1 for 4 reverse split (ROSG) 0.29 : Co announced the effectiveness of a one-for-four reverse stock split of its share capital. The reverse stock split, which was previously approved by the Company's Board of Directors, was approved by its shareholders at the 2011 Annual General Meeting of Shareholders of the Company held earlier today. The reverse stock split is intended to increase the per share trading price of the Company's ordinary shares to satisfy the $1.00 minimum bid price requirement for continued listing on the NASDAQ Capital Market.

8:01AM Cinedigm Digital Cinema announces close to $7 mln private placement (CIDM) 1.78 : Co announced that it has entered into a definitive securities purchase agreement with accredited investors, for the issuance and sale in a private placement transaction of ~ 4.3 mln shares of Class A common stock at a purchase price of $1.60/share. The co thus expects to receive gross proceeds from the offering of ~$7 mln, before deducting estimated offering expenses. The Co intends to use the funds for general working capital purposes and strategic opportunities.

7:55AM Gold Fields secures new $1 bln loan facility (GFI) 14.48 : Co announced that it has secured a 5-year $1 bln revolving credit facility. The loan will replace a $450 mln three-year facility with September 2013 maturity. The new facility, agreed by Gold Fields with a syndicate of fourteen banks, was oversubscribed by 1.33 times. The funds will be used for general corporate purposes and working capital requirements.

7:33AM Focus Media announces repurchase of shares (almost 2 mln ADSs) from Fosun International at $30.67 (FMCN) : Co announced that they have entered into a definitive agreement with Fosun International, one of Focus Media's shareholders, pursuant to which Focus Media will repurchase from Fosun International ~2 mln ADSs, each representing five ordinary shares of Focus Media at a price of US$30.67 per ADS totaling $60 mln through a privately negotiated transaction. Inclusive of this block repurchase, Focus Media has to date ~spent $300 mln of its previously announced share repurchase program.

7:32AM Allied Nevada drills 125 meters of 0.7 g/t gold and 158.0 g/t silver in the Vortex Zone at Hycroft (ANV) 37.15 : Co announces recent drill results from the ongoing exploration program at its wholly owned Hycroft mine located near Winnemucca, Nevada. The results of infill drilling in the Vortex Zone continue to intercept intervals of mineralization at or above the average grade of the resource.

7:32AM Intl Game Tech names Eric Berg President effective July 18 (IGT) 17.66 : He most recently was CEO of SunGard Availability Services.

7:31AM Gentium announces NDA submission for Defibrotide (GENT) 9.79 : Co announces that it has submitted a New Drug Application to the FDA for Defibrotide for the treatment of hepatic veno-occlusive disease in adults and children undergoing hematopoietic stem-cell transplantation.

7:31AM IMAX signs joint revenue sharing agreement in Portugal (IMAX) 30.02 : Co and ZON Lusomundo Cinemas announced a joint revenue sharing agreement to install three new digital IMAX theatre systems in Portugal. The deal marks the first IMAX theatres to open in Portugal. Under the terms of the agreement, the systems will be installed in existing theatres in different parts of the country, with the first expected to open by the end of the year. All three locations are expected to open before the end of 2012.

7:30AM Babcock & Wilcox announces $333 mln West Valley demonstration project cleanup contract award (BWC) 26.81 : Co announced that B&W West Valley has been awarded a $333 mln contract from the U.S. Department of Energy for the decommissioning of the West Valley Demonstration Project near West Valley, New York. The contract will begin following a 60-day transition period that started July 1.

7:26AM Noah Holdings states that its policy is not to comment on unusual market activity or rumors (NOAH) 13.96 : Co announces that in view of the unusual market activity in the stock of Noah on Tuesday, July 5, 2011, the New York Stock Exchange has contacted the Company in accordance with its usual practice; the Company stated that its policy is not to comment on unusual market activity or rumors.

7:10AM On The Wires (WIRES) :

* Socket Mobile (SCKT) announced Cellar Advisors have chosen the Socket Bluetooth Cordless Hand Scanner Series 7 as their recommended barcode scanner for use in wine inventory and cellar management applications utilizing the Apple iPad and other mobile devices.
* ENGlobal (ENG) announced that it has been awarded an engineering, procurement, and construction services agreement from Georgia-Pacific Chemicals. The work will be specific to the GP Chemicals Lufkin, Texas processing facility.
* China Automotive Systems (CAAS) announced that the NASDAQ Stock Market has notified the co that it has until July 29, 2011 to file its Form 10-Q for the period ended March 31, 2011. CAAS believes that it will be able to meet the deadline which will put co in full compliance for continued listing requirements.
* Top Image Systems (TISA) signed a partnership agreement with Konica Minolta Business Solutions Spain. This agreement allows Konica Minolta to offer its clients TIS eFLOWTM-based solutions, with an emphasis on processing large volumes of incoming mail and invoices automatically. Top Image Systems is positioned to further expand its foothold in the Iberian market through this partnership, which has already signed its first customer.
* Schiff Nutrition Group, a wholly owned subsidiary of Schiff Nutrition International (WNI), and Aker BioMarine expanded their supply agreement through at least June 2016 to provide Schiff high quality Aker BioMarine krill oil. Further, Schiff is granted certain exclusive sales rights, and the parties have agreed to collaborate on future innovations.
* CEVA (CEVA) announced the availability of fully optimized HSPA+ software libraries for the CEVA-XC DSP.

7:06AM Brigus Gold expands new 147 Gold Zone at Depth at Black Fox Complex (BRD) 1.71 : Co announces that exploration drilling on the southern portion of the Black Fox Complex continues to return excellent gold assays over significant widths within the new 147 Gold Zone ("147 Zone"), including 3.94 grams per tonne over 24.20 metres that included 6.86 gpt over 11.77 m.

7:05AM Prospect Capital closes $105 mln in new originations; including $75 mln senior secured debt investment in a leading specialty media buying business (PSEC) 9.93 : Co has made a senior secured debt investment of $75 mln in a market-leading specialty media buying business on June 30, 2011. The co is a leading specialty media placement agency that purchases and manages television inventory across national networks and local broadcast stations throughout the United States. Separately, Prospect provided $25 million in secured second lien financing for the recapitalization of a leading company in the occupational medical services industry. Prospect also provided $5 mln in secured second lien financing for the acquisition of a top company in the professional services subscription market.

7:04AM Silvercorp Metals reports resources estimate on the silvertip silver-lead-zinc property in British Columbia, Canada (SVM) 10.16 : Co announced that the base case resource for 2011 is estimated for resources greater than 200 grams per tonne (g/t) silver (Ag) equivalent. The update estimates an Indicated resource of 4.17 million tonnes grading 261 g/t Ag, 4.87% lead (Pb), and 8.50% zinc (Zn), containing in situ 35 million ounces of silver, 203,050 tonnes of lead, and 354,327 tonnes of zinc. In addition, the mineral resource in the Inferred category includes 0.91 million tonnes grading 278 g/t Ag, 4.80% Pb, and 9.60% Zn with in situ metal resources of 8.1 million ounces of silver, 43,358 tonnes of lead, and 87,406 tonnes of zinc. At 200 g/t Ag equivalent cut-off grades, the Indicated in situ metal resource estimates from the 2011 resource update increased by almost 32% for silver, 28% for lead, and 60% for zinc, compared to last resource estimates released in the 2010 technical report, while the Inferred in situ metal resource estimates increased by almost 60% for silver, 53% for lead, and 94% for zinc.

7:03AM Callidus Software acquires iCentera, provider of on-demand portal software; Financial terms of the transaction were not disclosed (CALD) 5.75 :

7:02AM MBA Mortgage Applications of -5.2% vs -2.7%% prior (ECONX) :

7:02AM Oncolytics Biotech collaborators present positive REOLYSIN clinical trial (ONCY) 5.49 : Co announces a presentation covering interim preliminary results from a Phase 2 clinical trial using intravenous administration of REOLYSIN(R) in combination with paclitaxel and carboplatin in patients with non-small cell lung cancer with Kras or EGFR-activated tumours. Thestudy indicated that 22 patients had received Reovirus intravenously daily on days one to five, in combination with carboplatin and paclitaxel. Response evaluation to date in 21 patients showed six partial responses (28.6%), 13 stable disease (61.9%), two progressive disease (9.5%). This translates into a clinical benefit rate of 90.5% and a response rate of 28.6%. The investigators noted that the clinical benefit noted so far is encouraging and that a follow up randomized clinical trial appears warranted.

7:01AM LCA Vision 14,081 procedures were performed during the second quarter of 2011, compared with 15,266 procedures (62 vision centers) YoY; same store procedures increased slightly (LCAV) 4.80 : Co announces that 14,081 procedures were performed during the second quarter of 2011, compared with 15,266 procedures (62 vision centers) during the second quarter of 2010. Same-store procedures (53 vision centers) increased slightly year-over-year from 13,943 procedures during the second quarter of 2010, the third consecutive quarter of year-over-year same-store procedure growth.

7:01AM Compuware acquires dynaTrace software for $256 mln cash (CPWR) 9.60 : dynaTrace has trailing twelve month revenues of $26 million and will add between $35 and $45 million to Compuware's FY '12 revenues. In FY '13, Compuware expects it to add nearly $100 million to the top line. Due to purchase accounting, the acquisition will have a three cents per share negative impact on Compuware's expected FY '12 EPS. In FY '13, the impact is expected to be at least four cents per share positive. These estimates reflect the long-term value of Compuware's investment strategy to become best-in-the-world in the APM market.

7:00AM Fortress International Group Awarded $29.1 Million in New Business During Second Quarter 2011 (FIGI) 1.60 : Co announces that, during the second quarter of 2011, the Company was awarded new contracts totaling $29.1 million. This total included $9.4 million in new, recurring revenue contracts and service upgrade projects from the Company's Facilities Management group, representing a 50% increase over bookings in the first quarter of 2011. Additionally, the Company booked Construction Management contracts totaling approximately $18.6 million during the second quarter of 2011, compared with $2.2 million during the first quarter.

7:00AM Microsemi acquires ASIC Advantage; terms of deal not disclosed (MSCC) 20.42 : Co has acquired privately-held ASIC Advantage, known for its technical innovation with high levels of quality and reliability, ASIC Advantage is a fabless semiconductor co that designs and manufactures a broad portfolio of high-performance, high-voltage and radiation-hardened mixed-signal integrated circuit (IC) solutions for the aerospace, automotive, communications, industrial and medical markets. "While relatively small, this important acquisition offers strong synergy opportunities, enriches our mix and accelerates our growth potential." Terms of the acquisition were not disclosed. Microsemi plans to discuss this acquisition during its Q3 call, to be scheduled later in July.

6:59AM Delta Petroleum announces the closing of the non-core asset sale and the initiation of a strategic alternatives process (DPTR) 0.46 : Co announces initiation of a strategic alternatives process. "With the June 28 closing of the $43.2 million sale of non-core, non-operated assets located in Texas and the DJ Basin, Delta has now completed the transformation to become essentially a pure Piceance Basin company. Initial production results from the 2C well are expected in the near future, and further information will likely be obtained throughout the strategic alternatives process. These developments and continued expansion of the shale analogs from offset competitor activity coupled with geologic confirmation information expected from the currently drilling 12B-6-14D well, make this the right time to initiate a strategic alternatives process for the transformed Delta to explore the value of our approximately 22,000 net acres of Williams Fork and deeper shale resource." The Delta Board of Directors has engaged Macquarie Capital and Evercore Group to act as advisors to the Company in conducting a strategic alternatives process that will be aimed at maximizing shareholder value and dealing with 2012 debt maturities. Through this process, the Board of Directors intends to evaluate all opportunities available, including a potential sale of the Company.

6:58AM Greenhill's Chairman Simon Borrows to leave Greenhill to join 3i, a longtime client of the firm (GHL) 54.82 : Mr. Borrows had previously served as Co-CEO of the Firm, until a year ago in April when he reduced his role to less than full time status in order to pursue outside interests.

6:46AM Pharmasset enters into a clinical collaboration agreement with Tibotec Pharmaceuticals for a combination study in patients chronically infected with Hepatitis C. (VRUS) 116.85 : Co announced today that it has entered into a clinical collaboration agreement with Tibotec Pharmaceuticals to evaluate in a Phase 2 study the safety and efficacy of PSI-7977, Pharmasset's investigational nucleotide polymerase inhibitor, in combination with TMC435, Tibotec Pharmaceuticals' investigational protease inhibitor, for the treatment of chronic hepatitis C virus. This phase 2 proof of concept study will evaluate the potential to achieve sustained virologic response 12 weeks post treatment with an all oral, once-daily, interferon-free treatment regimen in patients infected with genotype 1 HCV.

6:31AM On The Wires (WIRES) :

* TripAdvisor, a unit of Expedia (EXPE), announced the beta launch of rail itineraries into its award-winning flight meta-search engine, TripAdvisor Flights.
* Raptor Pharmaceutical (RPTP) announced that the United States Patent and Trademark Office has issued Notices of Allowance for two patents covering the co's delayed-release oral formulation of cysteamine bitartrate, as well as other formulations of cystamine and cysteamine.

6:31AM Zhongpin announces stock repurchase program of up to $10 mln (HOGS) 11.09 : Co announces that its board of directors has approved a stock repurchase program of up to $10 mln of its outstanding stock over the next 12 months. The stock repurchase program was approved by Zhongpin's board of directors on July 5, 2011, became effective on July 5, 2011, and is authorized to be in effect through July 4, 2012. Zhongpin expects to pay for the repurchased shares using internally available cash. As of March 31, 2011, Zhongpin's cash and cash equivalents totaled $177.6 mln.

6:31AM Tri Valley signs definitive agreement with US Gold (UXG) for Richardson minerals project (TIV) 0.57 : Co announced Select Resources, its wholly-owned minerals subsidiary, executed a Definitive Agreement with US Gold Corporation (UXG) on July 1, 2011, for a four-year Exploration Lease and Purchase Option Definitive Agreement with respect to Select's Richardson Minerals Project in Alaska. Under the terms of the Definitive Agreement, as outlined in the previously announced letter of intent, US Gold will acquire an exploration lease for Richardson, along with an exclusive option to purchase a 60% interest in the project and enter into a joint venture with Select for its development. With this agreement, Select will reduce its operating costs by ~$200K annually. In addition, with the signing of the Definitive Agreement, Select received its first Option Payment of $200K from US Gold, as provided in the Definitive Agreement."

6:04AM Oilsands Quest provides update on strategic alternatives review process; plans rights offering to advance SAGD projects toward commercial development (BQI) 0.35 : The proceeds from the rights offering will be used to advance the co's development plan. The key operational priorities are to 1) Operate the planned pilot project at Axe Lake in order to demonstrate that the Axe Lake reservoir can be produced using proven steam-assisted gravity drainage technology. 2) Conduct additional overburden testing in order to further refine the aerial extent of the glacial till that overlies the reservoir and demonstrate its extent and integrity as a cap for SAGD production. 3) Advance the Wallace Creek project through additional delineation programs.

6:03AM Union Drilling signs multi-year contracts for two new rigs (UDRL) 10.75 -0.04 : Co has entered into contracts to purchase two new drilling rigs based upon executed three-year contracts with a long-standing customer. The 1,500 horsepower AC electric drilling rigs, designed for pad drilling and efficient rig moves, have an aggregate cost of ~$35 mln. Upon completion, which is expected in the first quarter of 2012, the rigs will be deployed to Arkansas for work in the Fayetteville Shale.

6:01AM GeoResources provides an operations update; successfully drilled and completed our first two Eagle Ford wells (GEOI) 23.84 +0.68 : Co also recently completed drilling their third Eagle Ford well, the Black Jack Springs well, in which they have a 44.1% working interest. This well was drilled with a ~5,900 ft. lateral and is currently undergoing a 16 stage frac job. After drilling the Black Jack Springs well, the drilling rig was moved to drill the West Cannon Unit well in their Giddings Austin Chalk Field development area in Grimes County. The West Cannon well is currently drilling and should finish within the next few weeks. Co expects this well to be an "oily" Austin Chalk producer, with strong economics. After drilling the West Cannon Unit, the rig will return to their Eagle Ford project in August 2011 and will continue drilling Eagle Ford wells.

5:37AM On The Wires (WIRES) :

* Dynegy (DYN) announced that Carolyn J. Burke will join co as Executive Vice President and Chief Administrative Officer, effective August 30, 2011.
* DragonWave (DRWI) announced that Brian McCormack, Vice President of Worldwide Sales has submitted his resignation and will be leaving the company.
* HFF (HF) announced that it has arranged a $372 mln refinancing for 1285 Avenue of the Americas, a 1,650,000-square-foot, 42-story, trophy office tower in midtown Manhattan.
* CNOOC (CEO) announced that the oil spills occurred in PengLai 19-3 oil field have already been basically under control.
* Panasonic (PC) announced the launch of VIERA Connect Developers, a public web portal, to invite IPTV application developers to write applications for its VIERA Connect cloud-based TV service.
* iPass (IPAS) announced the iPass Open Mobile Exchange, a carrier-grade platform for service providers to extend core mobility and Internet offerings by integrating Wi-Fi with 3G and 4G, allowing providers to seamlessly connect customers to preferred Wi-Fi networks.
* Rib-X Pharmaceuticals announced today the signature of an exclusive worldwide research collaboration agreement and option for license with Sanofi (SNY) for novel classes of antibiotics resulting from Rib-X's RX-04 program for the treatment of resistant Gram-positive and resistant Gram-negative pathogens.
* SodaStream (SODA) announced that the co will break ground on a new 850,000 square-foot manufacturing facility in Israel. The new primary site is expected to go live during 2013 at an approximate cost of EUR30 mln.
* The Huffington Post UK, part of AOL (AOL) goes live today.
* Evergreen Energy (EEE) and WPG Resources appointed Wayne Rossiter as the CEO of Southern Coal Holdings, the joint venture established to produce K-Fuel in Australia using Evergreen's coal upgrading technology.
* JinkoSolar Holding (JKS) announced the commencement of the construction of five ground-mounted solar projects by Solairedirect, the largest French pure-play solar power company operating in France and sunbelt countries. These projects will use a total of 25 megawatts of JinkoSolar-branded solar modules.

2:13AM Toreador Royalty comments on recent developments in France (TRGL) 3.68 : Co comments on the recent French law, voted on June 30, 2011, banning the use of hydraulic fracturing for oil and gas extraction. "Notwithstanding the new law, we believe the oil resource potential of the Paris Basin can create jobs, provide local economic development, generate substantial revenues for the State and benefit all stakeholders. We reaffirm our commitment to define and develop this basin to reach its potential for all stakeholders, in compliance with French legislation and through cooperation with French authorities It is important to note that our plan to evaluate our exploration licenses does not call for hydraulic fracturing. We will not conduct hydraulic fracturing operations within any of our permit areas. We will make full disclosures and representations to the French regulatory authorities as may be required."

2:05AM Pfizer reports positive top-line results for Lyrica In Phase 3 study Of patients with fibromyalgia In Japan (PFE) 20.78 : Co annuounces top-line results for Lyrica Study A0081208, a Randomized, Double-Blind, Multicenter, Placebo-Controlled Study to Evaluate Efficacy and Safety of Pregabalin in the Treatment of Fibromyalgia. The results demonstrated a statistically significant reduction in the endpoint mean pain score, the primary efficacy analysis in the study, with pregabalin compared to placebo. Further analyses will be conducted on these initial results. Study A0081208 was a 16-week, randomized, double-blind, placebo-controlled, parallel group, multi-center study comparing pregabalin flexibly dosed and placebo in subjects with fibromyalgia. A total of 501 subjects were enrolled in the study in 45 investigative sites in Japan. The preliminary results of the study indicate that the most common adverse events in the study were somnolence, dizziness, weight increased, constipation, feeling abnormal, edema peripheral and blurred vision.

2:00AM Transatlantic Hldngs reports prelim estimate of Q2 catastrophe costs; expects ~$35 mln, principally from severe tornado activity in the US during the quarter. (TRH) 48.60 :

1:57AM Republic Airways reports June Traffic; RPMs down 3% YoY (RJET) 5.26 : Co announces preliminary passenger traffic results for June 2011. The co generated 1.9 bln revenue passenger miles, a 3% decrease from the same month last year, while capacity remained unchanged at 2.3 bln available seat miles. Block hours were 81,827 in June 2011, a decrease of 2% from June 2010. Consolidated load factor was 84% versus 86% in June 2010. Nearly 2.9 million passengers were carried during the month, a 4% reduction from the same month last year. Frontier Airlines, a subsidiary of co, reported preliminary traffic results for June 2011. Frontier's traffic decreased 1%, to 1.2 bln revenue passenger miles while capacity was also down 1%, at 1.3 bln available seat miles. Frontier Airlines served 1.4 mln passengers in June, a 1% decrease from June 2010. June's load factor was 90% and remained unchanged compared to the same month last year.

1:49AM Dana Holding completes two agreements for growth in emerging markets (DAN) 18.46 : Co announces that it has completed two transactions that will enhance its position for further growth in the emerging markets of China and India. Co has increased its stake in Dongfeng Dana Axle, a China-based commercial-vehicle axle joint venture, to 50%. Co has also acquired the commercial-vehicle axle business of Axles India. Additionally, co has acquired from Dongfeng Motor in which co paid $124 mln to DFL; a sales incentive agreement could effectively increase co's consideration by as much as $20 million if specified profitability targets are achieved. DDAC achieved 2010 sales of nearly $1 bln, supported by the strong performance of both the truck and bus markets and in particular of its main customer, Dongfeng Motor


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