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Market Update: 110708
4:15 pm : Disappointment over the latest payrolls report drove broad selling pressure today, but stocks were able to battle back. That helped the stock market score a slight weekly gain.

Official data for June showed that nonfarm payrolls increased by 18,000 and private payrolls increased by 57,000. Respective increases of 80,000 and 110,000 had been expected, on average, among economists surveyed by Briefing.com. Participants were also surprised by an increase in the headline unemployment rate to 9.2% from 9.1%, even after some 270,000 people left the labor force. The negativity of the data seemed doubly surprising since just yesterday the ADP Employment Change Report for June had exceeded expectations.

Given that job growth isn't what it was expected to be during June, many called into question the trajectory of the economy. Suspicion of anemic growth put participants on the defensive and drove broad selling pressure that took all 10 major sectors into the red and each of the three major equity averages down more than 1%.

Financials felt the brunt of the selling effort after they had outperformed in the prior session. As a group, financials fell 1.3%, but regional banks generally represented the sector's worst performers.

In the face of widespread weakness, stocks were able to attract some buying interest into the close. That helped the stock market moderate its loss and secure a modest weekly gain of 0.3%, which comes on top of last week's 5.6% climb. The stock market last scored back-to-back weekly gains in April.

Although pressure eased in late afternoon trade, defensive-oriented plays were still the top performers. Specifically, consumer staples slipped just 0.3%, while telecom stocks, health care stocks, and utilities stocks declined only 0.4%.

Treasuries traded with heady gains all session. At the closing bell the benchmark 10-year Note was quoted with a gain of more than a full point. That dropped the Note's yield back to within a couple of basis points of 3.0% after it had traded narrowly below 3.2% in the prior session.

Among commodities, gold prices gained 0.7% to close pit trade at $1541.90 per ounce. Silver only gained an incremental 0.1% to close the week at $36.56 per ounce. Oil grappled with aggressive selling all session. The cyclically sensitive commodity was clipped for a 2.5% loss as it settled at $96.20 per barrel.

Concerns about the U.S. economy caused the dollar to surrender an early gain that came in response to a weaker euro, which was cut down in response to concerns about the financial systems of countries in the eurozone periphery, but it was able to rebound for a 0.3% gain against a basket of major foreign currencies.

Advancing Sectors: (None)
Declining Sectors: Consumer Staples -0.3%, Health Care -0.4%, Utilities -0.4%, Telecom -0.4%, Tech -0.5%, Consumer Discretionary -0.6%, Energy -0.7%, Materials -0.7%, Industrials -1.2%, Financials -1.3%DJ30 -62.29 NASDAQ -13.77 NQ100 -0.3% R2K -0.7% SP400 -0.7% SP500 -9.42 NASDAQ Adv/Vol/Dec 836/1.50 bln/1725 NYSE Adv/Vol/Dec 849/630 mln/2126

3:30 pm : Trade in commodities today was largely driven by this morning's dismal jobs data. That data caused for a sharp pullback in the dollar. Energy: August crude oil finished lower by 2.5% to $96.20 per barrel. Crude oil futures dropped approximately 2.5 points following the release of the data, and extend that sell off another point, later in the morning, to session lows at $95.60. It spent the remainder of the session pushing slowly lower off those lows to end around $96 per barrel. August natural gas finished higher by 1.8% to $4.21 per MMBtu, recouping some of its losses from yesterday's inventory induced sell off.

A pullback in the dollar, coupled with a flight to safety, on the back of the jobs data sent precious metals higher today. August gold finished higher by 0.7% to $1541.90 per ounce, while Sept silver ended up 0.1% to $36.56 per ounce. Gold futures put highs, at $1546, early in the session and spent the remainder of the day trading in a small range. Silver gave back most of its gains to trade near the flat line for the remainder of the session. DJ30 -100.92 NASDAQ 22.79 SP500 -13.35 NASDAQ Adv/Vol/Dec 712/1.3 bln/1828 NYSE Adv/Vol/Dec 764/527.8 mln/2215

3:00 pm : Stocks head into the final hour with substantial losses, although the major equity averages have managed to hold steady above their lows for the day. For the week, though, the S&P 500 is flat. That makes for a rather lackluster follow up to last week's climb, which saw the stock market ascend almost 6% for its best weekly performance in about two years.

Consumer credit data for May was just posted. A $5.1 billion increase for the month exceeded the $3.5 billion jump that had been broadly expected. It also marked the eighth straight period of growth in the series. DJ30 -101.15 NASDAQ -25.94 SP500 -13.52 NASDAQ Adv/Vol/Dec 657/1.18 bln/1880 NYSE Adv/Vol/Dec 735/465 mln/2235

2:30 pm : Although the broad market has managed to remain off of its session low, shares of Google (GOOG 529.85, -16.75) are stuck near their worst levels of the day. The stock's loss, which currently stands at about 3%, is largely the result of a downgrade by analysts at Morgan Stanley.

In other analyst action, estimates for Goldman Sachs (GS 134.11, -0.90) have been cut at a couple of different firms, but the stock has managed to limit its loss to less than 1%, even though the rest of the financial sector is down 1.5%. Meanwhile, shares of retailer TJX Co's. (TJX 55.13, +0.14) were upgraded by analysts at Citigroup. That has helped win the stock favor in the face of this session's weakness. DJ30 -101.75 NASDAQ -28.70 SP500 -13.81 NASDAQ Adv/Vol/Dec 645/1.09 bln/1870 NYSE Adv/Vol/Dec 722/428 mln/2249

2:00 pm : Stocks head into the middle of the afternoon with sizable losses. Still, weakness isn't quite as widespread as what it was a couple of hours ago.

Financials and industrials remain the worst performers. Both sectors are down 1.5%. Among financials, Charles Schwab (SCHW 15.50, -0.62) is the worst performer. Robert Half International (RHI 26.79, -1.01) is the worst performing name among industrial issues. DJ30 -103.23 NASDAQ -23.20 SP500 -13.91 NASDAQ Adv/Vol/Dec 670/1.01 bln/1845 NYSE Adv/Vol/Dec 730/390 mln/2220

1:30 pm : Stocks have inched up to an incrementally improved afternoon high. The move comes more as a result of softer selling pressure in the broad market than any actual buying. That said, a few large-cap tech stocks are making more pronounced upward pushes; Microsoft (MSFT 26.75, -0.02) is threatening to turn positive for the first time since this morning while Apple (AAPL 358.21, +1.01) is up to a modest gain.DJ30 -108.04 NASDAQ -28.50 SP500 -14.38 NASDAQ Adv/Vol/Dec 605/920 mln/1895 NYSE Adv/Vol/Dec 665/355 mln/2265

1:00 pm : Stocks are working their way up from session lows, but losses remain prevalent in the wake of a surprisingly weak monthly payrolls report.

An upbeat ADP Employment Change Report on Thursday built up expectations for a strong official payrolls report this morning, but neither nonfarm payrolls nor private payrolls were what had been anticipated. Specifically, nonfarm payrolls increased in June by only 18,000, which is far less than the 80,000 that had been expected, on average, among economists surveyed by Briefing.com. Economists generally expected that private payrolls would increse by 110,000, but they increased by 57,000 instead.

The underwhelming payroll growth coupled with downwardly revised data for the prior month put the headline unemployment rate at 9.2%, up from 9.1%. The increase came even though the labor force actually narrowed by about 270,000 people.

The notion that sluggish job growth is the result of an anemic economic recovery has stoked selling interest. Few stocks have been able to escape the effort; as such, all 10 major sectors are in the red.

Questions about the pace of economic recovery have pressure on oil prices. The cyclically sensitive commodity was last quoted with a 2.5% loss at $96.20 per barrel, and had actually been as low as $95.60 per barrel earlier.

Gold and Treasuries, traditional safe havens, have found favor among market participants amid this session's negativity. Steady buying has kept the benchmark 10-year Note up by about a full point, while gold prices are up 0.7% to $1541.30 per ounce.

The dollar has had a rather volatile session. It had initially traded with strength as participants put pressure on the euro in response to rekindled concerns about the health of banks and broader fiscal conditions of countries in the eurozone's periphery. The jobs report then drove down the dollar to the neutral line, but it has since rebounded to trade with a 0.4% gain against a basket of major foreign currencies. DJ30 -113.03 NASDAQ -27.13 SP500 -14.55 NASDAQ Adv/Vol/Dec 600/859 mln/1892 NYSE Adv/Vol/Dec 646/330 mln/2772

12:30 pm : Stocks have managed to move up from session lows, but they continue to contend with stiff selling pressure that has the three major equity averages down by about 1% or more. Amid the selling, the Volatility Index is up almost 4%, but shy of its weekly high.DJ30 -120.90 NASDAQ -32.71 SP500 -16.10 NASDAQ Adv/Vol/Dec 580/795 mln/1900 NYSE Adv/Vol/Dec 600/309 mln/2300

12:00 pm : Oil prices have been on the retreat all session. The commodity came under pressure immediately after the June jobs report was posted. Given the underwhelming number of payroll increases, participants have questioned the pace of economic recovery and, as a result, sold the cyclically sensitive commodity. Oil prices were last quoted with a 2.5% loss at $96.20 per barrel. Oil was actually as low as $95.60 per barrel only a few minutes ago.DJ30 -107.96 NASDAQ -30.41 SP500 -14.96 NASDAQ Adv/Vol/Dec 510/700 mln/1950 NYSE Adv/Vol/Dec 553/270 mln/2340

11:30 am : Stocks continue to descend deeper into negative territory. That has left the S&P 500 just a few points above its weekly low, which was set at the 1331 line on Wednesday. This session's slide has come amid aggressive selling. In fact, declining volume outweighs advancing volume on the NYSE by more than 13-to-1.

Given the negative tone to today's trade, participants have sought the safety of Treasuries. Their interest has been so strong that the benchmark 10-year Note is up more than a full point. That has taken the Note's yield back near 3.0% after it had been at almost 3.2% yesterday. DJ30 -142.43 NASDAQ -39.21 SP500 -18.83 NASDAQ Adv/Vol/Dec 439/615 mln/2012 NYSE Adv/Vol/Dec 475/235 mln/2392

11:00 am : Stocks slipped some more in recent trade. Strength remains limited.

Financials and industrials -- two of the prior session's top performing sectors -- continue to suffer the worst of this session's selling efforts. Sharp pressure has taken them down to losses of 1.7% and 1.5%, respectively.

The dollar has managed to reclaim some of its morning gain. It had been up about 0.6% against a collection of competing currencies prior to the release of the latest jobs report, but dropped to the flat line after the data proved disappointing. It has since worked its way back up to a 0.4% gain. DJ30 -133.20 NASDAQ -30.82 SP500 -17.03 NASDAQ Adv/Vol/Dec 445/490 mln/1955 NYSE Adv/Vol/Dec 450/180 mln/2395

10:35 am : The dollar index remains close to session lows after falling sharply earlier after the poor jobs figures.

Crude oil continues to trade sharply lower and hit new session lows of $95.71/barrel in recent activity. In current activity, the energy component is down 2.8% at $95.95/barrel. Natural gas futures have been in positive territory all session and are now up 0.9% at $4.18/MMBtu.

Gold and silver both rallied just after floor trading began. Gold hit session highs of $1545.40/oz following the rally, while silver is holding a session high of $36.87. However, gold has been able to hold its gains this morning, while silver lost steam and fell into negative territory a short while ago. Currently, gold is 0.8% higher at $1542.70/oz and silver is down 0.4% at $36.41/oz.DJ30 -133.50 NASDAQ -29.32 SP500 -16.72 NASDAQ Adv/Vol/Dec 430/442.9 mln/1963 NYSE Adv/Vol/Dec 427/173.6 mln/2418

10:00 am : Telecom stocks have managed to limit their losses in the face of broad market selling pressure. The sector has shed only 0.4%, which is less than half of what the overall market has endured, so far, today.

Wholesale inventory data were just released. Inventories increased during May by 1.8%, which is double what had been expected, on average, by economists polled by Briefing.com. The data do not appear to be having any immediate impact on trade. DJ30 -105.73 NASDAQ -22.02 SP500 -12.85 NASDAQ Adv/Vol/Dec 391/175 mln/1870 NYSE Adv/Vol/Dec 369/70 mln/2338

09:45 am : Stocks are down markedly this morning, but the S&P 500 has managed to remain above its weekly low, which was set just above the 1330 line on Wednesday.

Selling pressure is broad in that there isn't a single sector in positive territory. Financials have been the heaviest drags on trade, so far. The sector's 1.4% slide hasn't yet fully offset its 1.6% advance in the prior session, though. DJ30 -93.01 NASDAQ -28.32 SP500 -9.26

09:15 am : S&P futures vs fair value: -15.30. Nasdaq futures vs fair value: -22.00. An encouraging ADP Employment Change Report helped send stocks up sharply to new monthly highs during the prior session, but a surprisingly weak official jobs report released earlier this morning has soured the mood among traders. A firmly lower start to the final session of the week now looks to be in order. If broad market futures offer an accurate picture of the open, all of this week's gain will be erased. Renewed negativity has prompted many participants to push into defensive plays. In turn, the benchmark 10-year Treasury Note is up nearly one full point so that its yield is back near 3.0%, while gold prices have gained 0.8% to trade at $1543 per ounce. The dollar has seen its morning gain dashed, though. It had been up markedly earlier this morning, but now it is up only fractionally. Initial strength in the dollar had come amid a weaker euro, which was weighed down by concerns about the health of banks and finances among countries in the eurozone's periphery.

09:05 am : S&P futures vs fair value: -17.40. Nasdaq futures vs fair value: -25.00. A surprisingly weak jobs report for June has undercut both stock futures prices and crude oil prices. In turn, the equity market is expected to open with a sharp loss. Meanwhile, oil prices are down 1.6% to $97.05 per barrel in the early minutes of pit trade. Natural gas prices are up an enviable 0.9% to $4.17 per MMBtu, though. Precious metals have caught a bid as traders turn to defensive-oriented assets. Specifically, gold prices are up 1.0% to $1545.50 per ounce. Meanwhile, silver was recently quoted with a 0.7% gain at $36.77 per ounce. In the backdrop, the dollar has suffered a marked drop so that it now trades near the neutral line after it had been up about 0.6% an hour ago.

08:35 am : S&P futures vs fair value: -12.00. Nasdaq futures vs fair value: -13.00. Stock futures have reversed sharply into the red with the release of the latest official payrolls report. According to data, nonfarm payrolls increased by only 18,000 during June. They had been expected to increase by 80,000. As for private payrolls, they increased by 57,000, which is considerably less than the increase of 110,000 that had been expected, on average, among economists polled by Briefing.com. The headline unemployment rate increased to 9.2% from 9.1%. Moreover, hourly earnings in June declined by 0.1%, which contrasts with the consensus call for a 0.2% increase. The average workweek during June eased down to 34.3 hours. It had been widely expected to remain at 34.4 hours.

08:05 am : S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +7.00. A concerted buying effort in the prior session took stocks to their highest level in more than a month after participants got their hands on a surprisingly strong ADP Employment Change Report. A more neutral tone has taken over this morning's premarket trade as participants prepare for the official nonfarm payrolls report, which is due at the bottom of the hour. Consumer credit data, due at 3:00 PM ET, are of secondary concern, and there is little else in the backdrop, given the dearth of corporate announcements and mixed action abroad. However, the dollar is trading with renewed strength after it slipped in the prior session. The greenback was last quoted with a 0.6% gain against a basket of major foreign currencies.

07:22 am : [BRIEFING.COM] S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +8.00.

07:22 am : Nikkei...10137.73...+66.60...+0.70%. Hang Seng...22726.43...+196.30...+0.90%.

07:22 am : FTSE...6062.52...+8.00...+0.10%. DAX...7499.54...+28.10...+0.40%.

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

5:17PM DemandTec files lawsuits against Revionics and Revionics Executive (DMAN) 7.71 -0.10 : Co filed a complaint in the Superior Court of the State of California, County of San Mateo, against Revionics, Inc. alleging libel, intentional interference with contractual relations and prospective economic advantage, and unfair competition. Separately, DemandTec also filed a complaint in the Superior Court of the Commonwealth of Massachusetts, Middlesex County, against a former DemandTec executive who recently joined Revionics for breach of contract, misappropriation of trade secrets, breach of duty of loyalty, fraud, and conversion.

5:10PM Castle Brands receives notice from the NYSE AMEX relating to failure to conduct annual shareholder meeting during FY11 (ROX) 0.31 -0.01 : Co disclosed receipt of a notice from the NYSE Amex, LLC ("NYSE Amex" or "Exchange"), dated July 5, 2011. The notice states that Castle Brands is not in compliance with Section 704 of the NYSE Amex Company Guide ("Company Guide") in that it failed to hold an annual shareholder meeting within one year after the Co's fiscal year ended March 31, 2010.

5:04PM TriCo Bancshares amends shareholder rights plan (TCBK) 15.22 -0.20 : TriCo Bancshares (TCBK), parent co of Tri Counties Bank, today announced that it has amended its Shareholder Rights Plan, which was originally adopted on June 12, 2001. The amendment to the Rights Plan provides, among other things, for an extension of the term of the Rights Plan to July 10, 2021.

5:01PM LAN Airlines monthly statistics report for June 2011; during June, system passenger traffic increased 12.1% as capacity rose 3.4% (LFL) 19.17 -0.07 : Co reported its preliminary monthly traffic statistics and punctuality indicators for June 2011. During June, system passenger traffic increased 12.1% as capacity rose 3.4%. As a result, the Company's load factor for the month increased 6.1 points to 78.1%. International passenger traffic accounted for ~71% of total passenger traffic. Starting in January 2011, these figures include AIRES' domestic and international operations.

5:01PM QIAGEN reaches agreement to buy 61% stake In Ipsogen (QGEN) 19.17 -0.07 : Co announced it has entered into binding agreements with a group of major shareholders of Ipsogen S.A. (Alternext: ALIPS) to purchase approximately 61% of the global leader in molecular profiling and personalized healthcare diagnostics for a broad range of applications in the field of hematology. QIAGEN entered into a binding agreement on July 8, 2011, with Ipsogen co-founders Vincent Fert and Stephane Debono, Ipsogen board member Kevin Rakin, Amundi Asset Management and Matignon Investissement relating to the unconditional purchase of their respective Ipsogen shares, which together amount to ~47% of the company's share capital. QIAGEN also has entered into agreements with other shareholders to purchase approximately additional 14% of Ipsogen's share capital, which will allow QIAGEN to exceed the threshold of 50% of Ipsogen share capital.

5:01PM Juniper Networks recommends rejection of below-market mini-tender offer by TRC Capital Corp (JNPR) 32.06 -0.74 : Co announced that it has been notified of an unsolicited "mini-tender" offer by TRC Capital Corp to purchase up to three million shares, or less than 0.563%, of outstanding Juniper Networks common stock at a price of $28.25 per share in cash. TRC's offer price is ~4.33% less than the $29.53 closing price of Juniper Networks common stock on June 22, 2011, the day before the offer commenced. In addition, TRC's offer is subject to numerous conditions, including the availability of financing on terms satisfactory to TRC.

4:37PM GlaxoSmithKline: FDA approves boostrix to prevent tetanus, diphtheria, and pertussis in older people (GSK) 44.21 +0.30 : Co approved Boostrix vaccine to prevent tetanus, diphtheria, and pertussis (whooping cough) in people ages 65 and older. Currently, there are vaccines approved for the prevention of tetanus and diphtheria that can be used in adults 65 and older. Boostrix, which is given as a single-dose booster shot, is the first vaccine approved to prevent all three diseases in older people.

4:34PM Ellington Financial LLC announced that its estimated book value per common share as of June 30, 2011, was $23.33, or $22.79 on a diluted basis (EFC) 21.60 +0.01 :

4:33PM SDG&E signs renewable contracts for nearly 200 MW of Green Energy (SRE) 52.82 -0.36 : Since January 1, 2011, San Diego Gas & Electric (SDG&E) has added more than 1,200 megawatts (MW) of clean, green energy to its renewable portfolio. Today, the utility announced it has signed two more contracts: a 25-year power purchase agreement for 150 megawatts (MW) of solar power with Solar Gen 2 LLC and a one-year contract for 40 MW of geothermal power with Silicon Valley Power. Solar Gen 2 LLC is a private solar development company based in Greenwich, Conn., with offices in Folsom, California. The 150-MW solar project will be built in three, 50-MW phases at separate sites on fallowed land in the Imperial Valley, California. Delivery of power from the first phase is expected by next summer.

4:30PM HiSoft acquires U.S.-based IT consulting firm, Nouveon Technology Partners (HSFT) 14.78 -0.06 : Co announced that it has acquired 100% of the equity interests in Nouveon Technology Partners ("Nouveon"). Under the terms of the agreement, HiSoft will pay an initial consideration of US$5.5 million in cash with additional contingent consideration to be paid based on Nouveon's financial performance over the next two years.

4:22PM Entergy Louisiana announces anticipated sale of investment recovery bonds (ETR) 67.94 -0.07 : Entergy Louisiana, LLC ("ELL"), an indirect, wholly-owned subsidiary of Entergy (ETR), announced that it plans to sell ~$206,000,000 principal amount of Entergy Louisiana Investment Recovery Funding I, L.L.C., Senior Secured Investment Recovery Bonds in an underwritten public offering. All of the investment recovery bonds will be offered in a registered offering under a shelf registration statement filed jointly with the Securities and Exchange Commission on June 24, 2011, by ELL and Entergy Louisiana Investment Recovery Funding I, L.L.C. ELL will use the net proceeds as a reimbursement for previously-incurred investment recovery costs. ELL anticipates that the investment recovery bonds will be offered late in July or during August 2011 after the registration statement has become effective.

4:16PM Noah Education states that its policy is not to comment on unusual market activity (NED) 2.38 +0.36 : NED announced it was contacted by the New York Stock Exchange regarding the unusual market activity in the Co's stock on Friday, July 8, 2011. Noah stated that its policy is not to comment on unusual market activity.

4:03PM Kimco Realty announces Q2 transaction activity (KIM) 19.50 +0.13 : Co acquired three grocery anchored shopping centers for a purchase price of ~$75.5 mln (including ~$43.4 mln in mortgage debt). Co also converted its preferred equity interest in six shopping centers totaling 638,000 square feet into a pari-passu joint venture in which Kimco holds a 70% interest. These properties are primarily located in Austin and are ~91% occupied.

4:02PM Asbury Automotive Group reschedules release of second quarter financial results (ABG) 19.64 +0.40 : Co announced that it has rescheduled to an earlier date and time the release of its second quarter financial results in order to better accommodate the investor community interested in listening to Asbury's results as well as the results of the other public automotive retailer companies. The company will now release its second quarter financial results before the market opens on July 26, 2011. President and CEO Craig T. Monaghan, Executive Vice President and COO Michael S. Kearney, and Senior Vice President and CFO Scott J. Krenz will host a conference call later that day, at 2:00 p.m. Eastern Time.

3:45PM Stock indices break above morning/midday bounce highs -- Dow -77 roughly 75 points off low, S&P -10, Nasdaq Comp -15 set a new session high (SPY) :

3:33PM PNM Resources' TNMP received regulatory approval to recover costs of $113.4 mln for installing an Advanced Metering System (PNM) 17.00 -0.06 : The approval will allow for the recovery of $113.4 mln, including $66.3 mln of capital, through a surcharge during the next 12 years. TNMP will install up to 240,000 meters beginning this year through 2016.

3:11PM Crystal Rock Holdings states it is policy to not comment on unusual stock market activity (CRVP) 1.42 +0.64 :

2:48PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : Continuous corn futures closed 22 cents higher at $6.37/bushel, wheat rose 14 cents to close at $6.48, cont. soybeans rose 4 cents to $13.47, cont. ethanol closed up 9 cents to $2.59, while cont. world sugar futures closed down 1.3% at 0.29 cents.

2:41PM GOL Linhas Areas Inteligentes S.A. confirmed it is under discussions with Webjet Linhas Aereas (GOL) 12.77 +0.16 : Co says "if there is any material fact necessary, it will be announced to the market."

2:35PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled lower by $2.47 to $96.20, natural gas gained 8 cents to close at $4.21, RBOB gasoline shed 3 cents to end at $3.09, while heating oil finished lower by a penny to $3.10 (all August contracts).

2:06PM Arcos Dorados prices private placement of R$400 mln 10.25% notes due 2016 (ARCO) 22.44 -0.02 : The proceeds from the sale of the notes will be used by the Company to satisfy its capital expenditure program, including to open and reimage restaurants, and for general corporate purposes.

1:37PM YRC Worldwide names Christopher C. Wren Senior Vice President and Treasurer (YRCW) 1.12 -0.03 :

1:34PM Stock indices break above midday ranges/bounce highs -- Dow -89, S&P -11.9, Nasdaq Comp -21 (SPY) :

1:32PM COMEX Metals Closing Prices (COMDX) : August gold finished higher by $11.30 to $1541.90, Sept silver ended up 2 cents to $36.56, while Sept copper shed 3 cents to close at $4.402.

12:54PM Seeing some Airline relative strength in recent trade -- UAL, AMR, ALK, TAM, LCC, LUV, GOL, CPA (TECHX) :

12:47PM Fresh rebound highs for Nasdaq Comp -26 and S&P -14, Dow -113 holding below its midday bounce high (SPY) : Relative strength noted earlier in Casino and Ag/Chem MOO, Materials XLB has accelerated in recent trade. Also seeing some intraday sector outperformance in Internet FDN, Housing XHB, Disk Drive, Solar TAN, Commodity Index.

11:47AM Exco Resources terminates strategic review process; special committee determined there were no proposals in the best interest of the co/all shareholders (XCO) 15.89 -0.78 : After consultation with its independent financial and legal advisors, the Special Committee determined that its review of strategic alternatives, including its consideration of Mr. Miller's proposals, has not resulted in any firm proposal or any other proposal that the Special Committee determined was in the best interests of the co and all of its shareholders. In addition to Mr. Miller's original proposal of $20.50 per share in cash, on July 6, 2011, CEO and Chairman Miller submitted a written proposal for a possible transaction in which he and certain indicated financing sources (who collectively hold a significant minority percentage of EXCO's outstanding common shares) would acquire by merger an ~81% interest in EXCO's common equity at a stated purchase price of $18.50 per share, with each EXCO shareholder receiving $13.52 per share (or ~73% of the purchase price) in cash as well as equity in the post-transaction EXCO with a stated value of $4.98 per share (or ~27% of the purchase price), subject to rights of election and pro ration. As part of the financing for the proposed transaction, Mr. Miller's proposal contemplated the issuance of $300 mln of perpetual convertible preferred stock which, if not successfully issued, would result in an adjustment to the cash and stock mix received by EXCO shareholders. Mr. Miller indicated he believed he would likely be able to finance the transaction but he did not provide any financing commitments, nor did his proposal outline the terms by which his potential investors would govern EXCO and what rights and protections would be offered to the remaining publicly held interest in EXCO. "We conducted a thorough review of strategic alternatives available to the co. As that process did not result in a transaction the Special Committee determined is in the best interests of the co and all of its shareholders, the Special Committee has decided to terminate the process."

11:43AM Monsanto edging back toward its rebound/session high at 74.91 (MON) 74.83 +0.08 :

11:39AM Stock indices trying to gain some traction off morning lows -- Dow -114 is 38 points off low, S&P -15, Nasdaq Comp -32 (SPY) : Relative sector strength on this move has come from: Materials XLB, Commodity Index, Silver SLV, Copper JJC, Ag/Chem MOO as the Dollar slips back slightly off its high along with Housing XHB, Biotech IBB, Casino BJK.

11:04AM Nasdaq Comp -36 and Nasdaq 100 -27 slip to minor new lows, Dow -137 and S&P -17 hovering just above their lows (TECHX) : Relative sector weakness in recent action has been noted in Semi SMH, Technology XLK, Disk Drive, Networking IGN.

11:01AM Omega Navigation Enterprises and certain subsidiaries file for reorganization relief under Chapter 11 (ONAV) 0.32 +0.01 : Co announced that it and certain of its subsidiaries have filed voluntary petitions under Chapter 11. Co believes that in light of the unwillingness of its Senior Lenders to work with Omega on an out-of-court restructuring of its Senior Loan Agreement, it needs the protection of Chapter 11 to ensure the uninterrupted operation of its vessels and services to its customers. Co is "disappointed in the Senior Lenders' intransigence" and has commenced litigation against them in Greece. Co wishes to assure its customers and suppliers that Omega will continue to operate in the ordinary course of business during its Chapter 11 proceedings... In addition, as separately announced by the Company, effective July 1, 2011, the joint venture with Topley Corporation, named Megacore Shipping, was terminated. This termination will have no effect on the Chapter 11 proceedings. (stock halted)

11:01AM Medtronic issues update related to potential for reduced battery performance in a small percentage of SynchroMed II implantable drug infusion pumps (MDT) 38.03 -0.18 : Co is issuing an urgent Medical Device Correction to provide physicians with additional information about the potential for reduced battery performance in a small percentage of its SynchroMed II Implantable Drug Infusion Pumps. Co is not retrieving the product from the field or recommending surgical removal of the devices unless a patient's pump demonstrates reduced battery performance. As of May 31, 2011, there have been 55 confirmed cases of this issue from approximately 139,653 SynchroMed II pump implants worldwide.

10:52AM Omega Navigation Enterprises halted, news pending (ONAV) 0.32 +0.01 :

10:48AM Generex Biotech provided preliminary results of generex oral-lyn clinical trials in patients with Type 1 Diabetes and patients with impaired glucose tolerance (GNBT) 0.15 +0.01 : Co announced preliminary clinical results of two major trials using the Generex Oral-lyn formulation that will be used for registration and marketing. Unlike prior reported results from studies using older versions of the formulation, the combined data from the now completed 084 Trial in Type 1 patients and the Prevoral Trial in patients with Impaired Glucose Tolerance provide key insights into both the short-term pharmacokinetic and glucodynamic effectiveness of Generex Oral-lyn in reducing post-prandial increases in blood sugar as well as the long-term (one year) safety and positive effect on metabolic control using the registration formulation of Generex Oral-lyn.

10:41AM Corn, wheat and soybeans open higher on the CME- corn is currently 2.2% higher (COMDX) : Floor trading just began on the CME and corn, wheat and soybeans all opened higher and extended overnight gains. Corn is currently up 14 cents (+2.3%) at $6.30/bushel, wheat is up 13 cents (or +2.0%) at $6.47 and soybeans are 4 cents higher at $13.42/bu.

10:38AM Slow slide after gap down start extended to second level supports in recent trade -- Dow 126, S&P -15, Nasdaq Comp -32 (SPY) : Further minor slippage for the stock indices with the major averages pulling back near second level supports noted in The Technical Take at 2838/2834 Nasdaq Comp (session low 2837), 1336/1334 S&P (session low 1335) and 12590/12580 Dow (session low 12576).

10:37AM Middleby announces acquisition of Mauer-Atmos, German thermal processing systems manufacturer for food processing industry (MIDD) 95.03 -1.52 : Co announced that it has entered into an agreement to acquire the net assets of Mauer-Atmos GmbH (approximate annual revenues of $20 million). The addition of this brand complements and further strengthens Middleby's food processing equipment platform.

10:35AM Honeywell named the company's Vice President and Chief Information Officer effective immediately (HON) 59.48 -0.96 :

10:26AM Semiconductor Hldrs ETF attempting to stabilize after testing support zone (SMH) 34.59 -0.58 : Second level support noted in The Technical Take at 34.55/34.45 has been tested in recent trade (session low 34.45) with it attempting to stabilize -- ADI -1.6% (hovering near its 50 sma), AMAT -2.3%, ALTR -2.1%, AMD -2.2%, AMKR -3.6% (tested 50 sma/ema), BRCM -1.6%, KLAC -1.5% (tested 50 sma), LLTC -1.4% (tested 200 ema), TER -2.6% (tested 200 ema).

10:19AM Semi/Technology SMH / XLK slide to new session lows pushing Nasdaq 100/Comp slightly under their opening troughs (TECHX) :

10:11AM Dow -114 and S&P -14 slipped to minor new lows but the Nasdaq Comp -25 has again not confirmed the move (SPY) :

10:04AM Stryker unit entered into an exclusive collaboration with RegenLab (SYK) 59.91 -0.68 : Stryker Joint Preservation, a business unit of Stryker's Orthopaedics group, announced it has entered into an exclusive collaboration with RegenLab SA to distribute Stryker's RegenKit-THT, a one-step system designed for the safe and rapid preparation of autologous platelet-rich plasma (A-PRP) from a small sample of blood at the patient's point of care.

10:02AM Pinnacle Airlines named Edward Christie as its new vice president and CFO (PNCL) 4.47 0.00 : Christie, a partner at Vista Strategic Group, succeeds Peter D. Hunt. He is expected to begin his new duties by July 25, 2011.

10:02AM Ciber wins contract to support financial systems for the National Park Service (CBR) 5.61 -0.15 : Under the new award, which consists of a base year and four option years valued at $12 million if all options are exercised, the NPS will issue task orders to procure IT support services from Delta Solutions and CIBER.

10:00AM Crude oil to fresh lows at $96.22; now down $2.37 to $96.31 (COMDX) :

9:58AM Silver Trust ETF displaying relative strength as it set a new weekly high, currently hovering near its 50 sma at 35.76 (SLV) 35.77 +0.27 :

9:55AM Fractional new lows for S&P -12 and Dow -88 (SPY) : However, the indices continued to hold near support zones noted at 09:40 and the Nasdaq Comp -19 did not confirm the new lows suggesting some loss of downside momentum.

9:49AM Orient-Express announced that Paul White, President and Chief Executive Officer, has resigned (OEH) 11.05 -0.25 : Bob Lovejoy, Chairman of the Board, has been named Interim Chief Executive Officer while the Board conducts a search for a permanent replacement. The Board has named a Search Committee chaired by director Mitchell Hochberg including Lovejoy, Prudence Leith and Georg Rafael.

9:48AM Opening Point Gainers/Losers (TECHX) : Point Gainers: GLD (+1.22), JVA (+1.18), AAPL (+0.87), VMW (+0.63), FCN (+0.70), AEM (+0.58), LOCM (+0.71)

Point Losers: GOOG (-13.70), PCLN (-7.34), ALV (-5.79), ARX (-3.36), XXIA (-3.01), A (-2.90), TRW (-2.60), MELI (-2.60), CAT (-2.43), DKS (-2.39), CRM (-2.33), BIDU (-2.40)

9:46AM Merck displays relative strength sets new high for the week (MRK) 35.86 +0.13 : Resistance at the Mid-June reaction high and its 50 sma (35.97-36.04) have held thus far (session/weekly high 36.00).

9:43AM Amazon.com bounces 1.4% off early low, rebound holding just under flat line thus far at 216.74 -- session high 216.31 (AMZN) 216.31 -0.43 :

9:40AM S&P -12 pulls back near last week and Tues/Wed highs at 1341/1340 -- session low 1339.77 (SPY) : Friday/Tues high for Dow -107 at 12601/12596 (session low 12608), Wed high for Nasdaq Comp -25 at 2838 (session low 2841).

9:33AM Microsoft bounces off opening low to test yesterday's high and its four month high from April at 26.88/26.87 -- session high 26.88 (MSFT) 26.85 +0.07 :

9:16AM SRA Intl awarded 5 year base, $12 bln Multi-Award contract from Department of Veterans Affairs (SRX) 31.14 : Co announces it is one of the awardees on the Department of Veterans Affairs' Transformation Twenty-One Total Technology program. The indefinite delivery, indefinite quantity, multiple-award task order contract has a five-year base period, with a ceiling of $12 bln.

9:10AM On The Wires (WIRES) :

* Douglas Emmett (DEI) announced that it has closed a secured, non-recourse $355 mln term loan to refinance existing debt. The loan bears interest at a fixed interest rate of 4.14% per annum and matures on August 5, 2018.
* Alterra Capital (ALTE) announced that the State of New York Insurance Department has approved Alterra Bermuda as an eligible reinsurer for reduced collateral status, which allows lower collateral requirements for non-domestic reinsurers that are highly rated and financially secure. Alterra Bermuda will now be able to post collateral for 20% of property and casualty reinsurance loss reserves in New York rather than the 100% required by most non-US reinsurers.
* Montana-Dakota Utilities (MDU) announced that it has filed an application with the North Dakota Public Service Commission for an advance determination of prudence to construct, own and operate an 88-megawatt simple cycle combustion turbine, as well as the related infrastructure needs for the project.
* Riverview Bancorp (RVSB) announced that on June 15, 2011, the Boards of Directors of the Company and Riverview Community Bank, its financial institution subsidiary, had adopted a Plan of Reorganization and Charter Conversion to convert the Bank to a Washington chartered commercial bank organized under Title 30 of the Revised Code of Washington and reorganize the Company as a bank holding co.
* PennantPark Floating Rate Capital (PFLT) declares an increase to its monthly distribution for July 2011 to $0.06 per share, payable on August 1, 2011 to stockholders of record as of July 22, 2011.

8:51AM Diana Shipping announces delivery of the Panamax Dry Bulk Carrier M/V Arethusa and commencement of time charter contract With Cargill (DSX) 11.08 : Co announces it has taken delivery of the m/v "Corona", renamed "Arethusa", a 73,593 dwt Panamax dry bulk carrier built in 2007. As previously announced, the Arethusa is chartered to Cargill International S.A., Geneva for a period of about 11-13 months, at a gross charter rate of $13,250 per day, minus a 5% commission paid to third parties. The charter commenced today. This employment is anticipated to generate ~$4.2 mln of gross revenue for the minimum scheduled period of the charter.

8:50AM Ecology and Environment raises 6-month dividend by $0.02 to $0.24 per share (EEI) 16.93 :

8:46AM Southwest Air reports June Traffic; RPMs grew 7.5% YoY (LUV) 11.61 : Co announces flew 9.6 bln revenue passenger miles in June 2011, compared to 9.0 bln combined RPMs flown in June 2010, an increase of 7.5%. Available seat miles increased 6.2% to 11.5 bln from the June 2010 combined level of 10.8 bln. The load factor for June 2011 was 83.9%, compared to the combined load factor of 82.8% in June 2010. For June 2011, Southwest Airlines' passenger revenue per ASM (excluding AirTran Airways) is estimated to have increased ~5% as compared to June 2010. For 2Q11, the co flew 27.6 bln combined RPMs, compared to 25.4 bln combined RPMs flown for the same period in 2010, an increase of 8.8%. The combined second quarter 2011 ASMs increased 6.0% to 33.6 bln, compared to the combined level of 31.7 bln for the same period in 2010. The combined 2Q11 load factor was 82.2%, compared to the combined load factor of 80.1% for the same period in 2010.

8:44AM MarkWest Energy upsizes and prices 3.5 mln common units at $48.00 per unit (MWE) 49.67 :

8:42AM Gold pushing toward the $1550 mark; currently up $12.80 to $1543.60 (COMDX) :

8:39AM Baxter and Halozyme (HALO) report top-line results of Phase III Study of HyQ in Patients with Primary Immunodeficiency (BAX) 61.06 : Baxter (BAX) and Halozyme Therapeutics (HALO) announce top-line results of a phase III study of HyQ for use in patients with primary immunodeficiency. The data confirms the interim results presented late in 2010 and support the recent submission of a biologics license application to FDA. In the study, the acute serious bacterial infection rate was 0.025 per patient per year, which is below the required efficacy threshold of 1.0. In the tolerability assessment of HyQ, the most frequently reported adverse reactions were infusion site reactions (20% of infusions), headache (3% of infusions), fatigue (1% of infusions) and pyrexia (1% of infusions). In addition to the recent regulatory submission in the United States, BAX expects to file in Europe and Canada in the coming months, and will present results from the phase III study by the end of 2011.

8:39AM Crude oil extends its slide, notching fresh lows at $96.58; now down $2.02 to $96.65 (COMDX) :

8:34AM Northwest Biotherapeutics announced $4.55 mln equity investment (NWBO) 0.64 : Co announced $4.55 mln equity investment on June 28, 2011, by The Richard M. Schulze Family Foundation. The sale of newly issued common stock of the Company to the Foundation follows the investment of $3 million, on May 31, 2011, by investment funds managed by Whitebox Advisors.

8:33AM Glu Mobile announces availability of Eternity Warriors App for Apple (AAPL) iPad, iPhone and iPod touch at the App Store (GLUU) 5.46 :

8:33AM Allied World Assurance expects to record ~$65-75 mln in catastrophe related losses (AWH) 57.60 : Co announces that it expects to record approximately $65 million to $75 million in catastrophe related losses and loss expenses in the second quarter of 2011. This range is comprised of approximately $40 million to $50 million from second quarter 2011 weather-related events in the United States and approximately $25 million for additional expected losses from first quarter catastrophe events in New Zealand and Japan. These amounts are pre-tax and net of reinsurance recoverables.

8:32AM Longwei Petroleum increases deposit for the acquisition of Huajie Petroleum Assets (LPH) 1.52 : Co has increased its deposit to ~$85.1 mln through cash on hand for the purchase of the assets of Huajie Petroleum. Co intends to acquire the assets of Huajie Petroleum for a total of ~$108.3 mln. The co and Huajie Petroleum had previously been in discussions to close on the asset purchase by June 30, 2011, at which time Longwei had agreed to pay at least 50% of the total purchase price through cash on hand as a deposit and the Seller would accept a promissory note for the balance of the purchase price. The Parties could not reach a final agreement relating to the terms of the promissory note and have agreed that the Company shall pay the balance of the purchase price, ~$23.2 mln, by December 31, 2011, at which time the assets will be transferred. As of June 30, 2011, Longwei had paid a ~$85.1 mln deposit, or 78.6% of the total purchase price, using cash on hand.

8:31AM Gold, silver ticking higher on pullback in dollar (COMDX) :

8:31AM Marina Biotech reports significant developments in its ability to develop both microRNA mimetics and antagonists (MRNA) 0.19 : Co announces data demonstrating that its proprietary technologies, its liposomal-based delivery technology SMARTICLES as well as its Conformationally Restricted Nucleotide technology, support the development of both microRNA mimetics and antagonists. Systemic administration of a SMARTICLES formulated miRNA mimetic in an orthotopic liver tumor model demonstrated inhibition of tumor growth, as indicated by a decrease in a systemic liver tumor biomarker, alpha-feto protein, and a decrease in tumor weight of greater than 80%. In separate work, the co demonstrated that incorporation of CRN in miRNA antagonists increased potency with an approximate 60-fold improvement in the IC50.

8:30AM Crude oil drops close to 2 points following wecon data; now off 86 cents to $97.78 (COMDX) :

8:20AM Crude oil trades to its best levels of the morning at $99.18 heading into the jobs data; currently up 44 cents to $99.11 (COMDX) :

8:14AM Apollo Global Management expands its Senior Loan Management Business with the acquisition of Gulf Stream Asset Management (APO) 16.87 : Co announces that it has agreed to acquire Gulf Stream Asset Management, which currently manages 10 Collateralized Loan Obligations with more than $3 bln in assets under management. is expected to bring the assets under management of co's capital markets business to ~$27 bln. Co's senior loan business is expected to exceed $14 bln upon closing of the transaction. Terms of the transaction were not disclosed.

8:02AM Martha Stewart and KB Home (KBH) to introduce new collection of homes in Orlando; no terms disclosed (MSO) 4.50 :

8:01AM PriceSmart June sales +21.1% YoY; comps +19.7% (PSMT) 60.20 : Co's June net warehouse club sales increased 21.1% to $137.9 mln (28 stores vs. 27 one year ago); June comps +19.7% (26 stores).

8:01AM China Technology Devlpmt announces board and management changes; Zhenwei Lu has been appointed Chief Financial Officer effective July 7 (CTDC) 1.77 : Co announces Zhenwei Lu has been appointed Chief Financial Officer effective July 7, and will continue as executive director on the board of directors. The Board resolved to remove Ju Zhang from the office as Executive Director effective July 7th. The Company has no disagreement with Ju Zhang.

8:00AM Skypeople Fruit Juice announced the filing of a defamation lawsuit against Absaroka Capital Mgmt (SPU) 2.65 : Co announces announced the filing of a defamation lawsuit against Absaroka Capital Management and its analyst, Kevin Barnes. On June 1, 2011, an entity identifying itself as "Absaroka Capital Management", a short seller of the co's securities, published an article containing several false allegations and accusations against the co. On June 10, 2011, the co requested that Absaroka Capital and Kevin Barnes retract the inaccurate statements contained in the Article. Absaroka Capital did not comply with the co's request, and, subsequently, the Company filed a civil action against Absaroka Capital and Kevin Barns for libel and tortuous interference with existing and prospective economic advantages in the United States District Court for the District of Wyoming, where Absaroka Capital is based.

7:43AM News Corp provides statement regarding co's proposed offer for BSkyB (NWSA) 17.93 : Co notes comments by the Prime Minister with respect to its proposed offer to acquire the outstanding shares in BSkyB. "Our priority is to continue to cooperate with the Secretary of State for Culture, Olympics, Media and Sport and the existing regulatory process."

7:03AM On The Wires (WIRES) :

* Jones Soda (JSDA) announced its popular WhoopAss energy drink is now available in the Canadian market. Further ramping up its presence, Jones also announced a 1-year sponsorship deal of the Toronto Argonauts.
* FairPoint Communications (FRP) announced that it met its regulatory broadband commitment in Vermont by the June 30, 2011 deadline. With this achievement, FairPoint now offers broadband service to more than 83% of its customers in Maine, more than 85 percent of its customers in New Hampshire and almost 90% of its customers in Vermont.

7:01AM First California Financial Group announced that Diane Dickerson has been appointed senior vice president and CMO (FCAL) 3.83 :

6:31AM On The Wires (WIRES) :

* Acacia Research (ACTG) announced that a subsidiary has acquired over 30 circuit patents for advanced memory and processor technology from a major technology company.
* STMicroelectronics (STM) announced a new highly integrated SoC family with unique integration of comprehensive video and audio inputs, advanced video quality and expanded functionality.
* Tianyin Pharmaceutical (TPI) announced that its 250-ton Jiangchuan Macrolide facility is scheduled for its manufacturing test runs by the end of July.
* Consumers Energy, the principal subsidiary of CMS Energy (CMS), received approval on July 7 from the Mason County Planning Commission of the utility's special land use permit application for its first wind park, the 100 megawatt Lake Winds Energy Park.

6:17AM Greenbrier Comp misses by $0.11, misses on revs (GBX) 21.97 : Reports Q3 (May) earnings of $0.10 per share, excluding non-recurring items, $0.11 worse than the Capital IQ Consensus Estimate of $0.21; revenues rose 53.1% year/year to $317 mln vs the $370.7 mln consensus. With regard to co's outlook, Based on current business trends, mgmt continues to anticipate that both revenues and Adjusted EBITDA will be higher in the fourth quarter than the third quarter of 2011. Management anticipates the co will continue to be profitable in the fourth quarter of the year and for the year as a whole, excluding any one-time charges associated with the early retirement of debt. Profitability will be driven by continued new railcar delivery momentum, production efficiencies, an optimized balance sheet and anticipated higher wheel services and repair volumes. Co comments: "...these results did not fully meet our expectations, principally due to a temporary shortage of castings in North America and a temporary delay in certification of railcars in Europe, which dampened new railcar deliveries by about 300 units. In addition, about $2 million of certain other non-recurring general & administrative costs were incurred during the third quarter. Business momentum continues in what co believes is the early stage of an upturn in the markets they serve. Additionally, co reports new railcar deliveries in the third quarter of 2011 were 2,200 units, compared to 700 units in the third quarter of 2010. Co's new railcar manufacturing backlog as of May 31, 2011 was 13,600 units with an estimated value of $1.05 bln, compared to 9,500 units valued at $720 mln at February 28, 2011.

6:05AM Hyperdynamics will transfer the listing of its common stock to the NYSE from the NYSE Amex; expects to begin trading July 11; will retain ticker (HDY) 4.22 :

5:56AM On The Wires (WIRES) :

* Overland Storage (OVRL) announced that it has expanded its product deployment footprint in the higher education market with over two thousand college, university and vocational school deployments across the globe.
* Baidu (BIDU) announced the realignment of four main business functions: Sales, Commercial Operations, User Products and Technologies, and Commercial Products and Technologies. Baidu will implement an executive rotational program to promote management innovation and efficiency.

3:49AM On The Wires (WIRES) :

* The merger of GS Financial (GSLA) with and into Home Bancorp (HBCP) was approved by the shareholders of the co.
* HFF (HF) announced that it has arranged $167 mln in first trust deed and mezzanine financing for The Breakers Resort, a six-village, 1,523-unit, Class A multi-housing community in Denver, Colorado.
* Ascent Media (ASCMA) announced that it has changed its name to Ascent Capital Group. The co will continue to trade on the Nasdaq Global Stock Market under its current ticker symbol ASCMA. The name change does not affect the company's ownership structure or day-to-day operations.
* Caterpillar (CAT) and Bucyrus (BUCY) received notification from the Ministry of Commerce of the People's Republic of China that it has formally approved Caterpillar's planned acquisition of the Wisconsin-based mining equipment company.
* Cinema Scene Marketing announced the signing of an agreement to expand its Digital Media Network to 23 additional Marcus Theatre (MCS) locations. Terms were not disclosed.

3:43AM Autoliv provides information on antitrust inquiries; investigations still ongoing (ALV) 79.77 : Co provides information about the antitrust inquiries. The DOJ and EC investigations are still ongoing. It is likely that, for the reporting periods in which the related liabilities become estimable or the investigations are resolved, the co's operating results and cash flows will be materially impacted. However, co states it cannot predict the duration, future scope or final outcome of the investigations, it is unable to estimate such impact or predict the reporting periods in which it may be recorded.

3:24AM United Micro reports June sales of NT$9.186 bln; down 11.1% YoY; down 2.3% sequentially (UMC) 2.55 :

3:22AM NYSE Euronext reports Trading Volumes for June 2011; Global Derivatives ADV Up 8% YoY (NYX) 35.40 : Co announces trading volumes for its global derivatives and cash equities exchanges for June 20111. Global derivatives average daily volume of 8.8 mln contracts in June 2011 increased 8.0% versus the prior year driven by a 19.7% increase in U.S. options ADV and a 14.3% increase in European fixed income derivatives which offset a 14.4% decrease in European equity products ADV. Cash equities ADV declined across all venues in June 2011, with European cash ADV decreasing 2.8% and U.S. cash trading ADV decreasing 28.7% from June 2010 levels.

1:56AM Newport enters into agreement to acquire Ophir Optronics (OPHRF) for $8.43 per share; ~$230 mln (NEWP) 18.91 : Co announces it has signed a definitive agreement to acquire Ophir Optronics. The consideration to be paid by Newport is $8.43 per share, or a total of ~$230 mln in cash. The transaction is expected to close in the fourth quarter of 2011. Co expects the transaction to be immediately accretive to its earnings following the closing.

1:51AM Allegiant Travel reports June traffic; RPMs increased 1.4% (ALGT) 48.70 : Co reports total systems passengers increased 3.8% YoY; RPMs +1.4%; ASMs +1.9%; load factor -0.5%; departrues +4.0% and Avg Stage Length -2.4%. Co provides guidance on some internal metrics. June 2011 estimated YoY ear PRASM change +24.3-24.7%; June 2011 estimated YoY TRASM change +18.5-18.9%. Capacity guidance is as followed: Co sees July Schedulted departures -4%; ASMs -1%; Q3 system departures (7%)-(3%); ASMs (5%)-(1%).

1:41AM Exxon Mobil provides update on Yellowstone River clean up (XOM) 82.36 : Under the direction of the Unified Command, more than 500 people are now involved in the response and cleanup effort including co's North America Regional Response Team, the Clean Harbors and ER oil spill response organizations and additional contractors. More than 75,000 feet of absorbent boom is on site, with more than 8,000 feet deployed to clean up oil adjacent to the river. More than 400,000 absorbent pads are on site with more than 150,000 deployed. Two isolated spots of oil have been located beyond 20 miles of the release point; however, we have not discovered any oil between 20 and 40 miles from the site of the release. One spot was located ~40 miles from the site of the release and the second spot was found approximately 80 miles away. Ongoing air quality monitoring has confirmed there is no danger to public health.

1:30AM Avalon Rare Metals updated prefeasibility study confirms significantly improved economics for the Nechalacho REE Deposit, Thor Lake (AVL) 6.54 : Co announces a significant improvement in the anticipated economics of the Nechalacho Rare Earth Elements deposit at Thor Lake NWT, Canada, based on the results of an update of its June, 2010 Prefeasibility Study. The update was prepared to reflect a new mine plan based on an update of the Mineral Reserve Estimate which was, in turn, based on the co's January, 2011 mineral resource update as well as higher product prices. The updated PFS produced a discounted cash flow analysis yielding a 39% Internal Rate of Return on a pre-tax basis and a 34% IRR on an after-tax basis. The NPV at a 10% discount rate is now CAD1.77 bln pre-tax and CAD $1.27 bln after-tax. The 20 year mine life is based on a new CIM-compliant Probable Mineral Reserve estimate of 14.5 million tonnes of 1.53% TREO, 2.90% zirconium oxide, 0.38% niobium oxide and 0.04% tantalum oxide. The mining method was updated to include some long-hole stoping in the thicker parts of the reserve, but no changes were made to the metallurgical process flowsheets from the original PFS, where combined recoveries of TREO, ZrO2, Nb2O5 and Ta2O5 are 84.6% from the flotation plant and 90% from the hydrometallurgical plant.

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