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Market Update: 110712

4:30 pm : Financial instability in parts of the eurozone, talk of further quantitative easing, and an underwhelming start to earnings season played into today's trade, yet overall action was really rather dull until late in the day, when stocks fell amid a flurry of selling pressure.

Concerns about the inability of the European Union to contain and remedy the precarious financial conditions of countries in the eurozone periphery prompted participants to drop the stock market in the prior session for its worst one-day performance in more than a month. Momentum from that slide, combined with aggressive selling abroad and a lack of progress in restoring confidence throughout the eurozone, renewed pressure on stocks ahead of the open.

Sentiment improved by the time of the open, but the broad market remained mired near the neutral line into early afternoon trade. Financials had offered some support before they rolled over in the final hour of the session. At its high, the sector was up 1.0%, but it ended the day with a 0.3% loss.

The financial sector's pullback coincided with a broad market downturn that came after participants began to digest the verbiage included in minutes from the most recent FOMC meeting. Participants first began to buy stocks in response to news that Committee members discussed the circumstances that could warrant further quantitative easing, but the recognition that members were only being prudent by discussing the topic prompted selling interest.

While stocks were on the backslide, Moody's brought Europe's financial woes back into focus with its decision to downgrade Ireland's debt.

The euro had spent most of the day trying to gain ground against the greenback, but the downgrade of Ireland's debt drove the euro back below $1.40 to a 0.4% loss. Japan's yen actually advanced against the dollar, even though the country's central bank cut its 2011 GDP forecast to 0.4% growth from 0.6% growth.

Production disruptions from the Japan's massive earthquake earlier this year continue to suppress output in the country. Trade data for May indicated that the U.S. deficit with Japan narrowed during from the same period one year ago. Still, the overall U.S. trade deficit ballooned to $50.3 billion, which is the widest that the deficit has been since 2008. The consensus among economists polled by Briefing.com had called for a deficit of $44.0 billion.

Dow component Alcoa (AA 15.71, -0.20) unofficially started earnings season with its latest quarterly report, but amid all of the macro concerns the announcement was relegated to secondary concern. The lack of attention was also partly due to the company's underwhelming results that featured earnings of $0.32 per share, which is a penny shy of what had been widely expected on Wall Street.

Advancing Sectors: Utilities +0.5%, Health Care +0.1%
Declining Sectors: Telecom -0.2%, Financials -0.3%, Energy -0.3%, Materials -0.3%, Consumer Staples -0.4%, Consumer Discretionary -0.4%, Tech -0.9%, Industrials -1.0%DJ30 -58.88 NASDAQ -20.71 NQ100 -0.8% R2K -0.5% SP400 -0.4% SP500 -5.85 NASDAQ Adv/Vol/Dec 1062/2.04 bln/1515 NYSE Adv/Vol/Dec 1265/924 mln/1736

3:30 pm : Continued concerns about Italy helped precious metals trade higher today. August gold finished up 0.8% to $1563.10 per ounce, while Sept silver closed higher by 0.3% to $35.96. Both metals, however, extended their respective rallies in afterhours trade after the release of the FOMC minutes, which indicated some members believe the Fed might have to consider providing additional monetary policy stimulus. Gold futures closed in on all time highs, at $1577.40, but have since pulled back some.

August crude oil finished higher by 2.4% to $97.43 per barrel, ending a two session losing streak. Futures erased modest overnight losses after trading back to the unchanged mark in mid-morning trade. Crude oil continued to climb higher throughout the afternoon and was added by the markets reaction to the FOMC minutes. It ended near session highs at $97.50. August natural gas finished up 0.1% to $4.39 per MMBtu. DJ30 -13.62 NASDAQ -12.78 SP500 +1.37 NASDAQ Adv/Vol/Dec 1252/1.6 bln/1306 NYSE Adv/Vol/Dec 1512/638.6 mln/1509

3:00 pm : Stocks have failed to sustain their recent upturn. As a result, the Nasdaq has dropped back into negative territory to trade with with a modest loss. Meanwhile, the Dow and S&P 500 are headed for the neutral line.

The dollar has begun to pull up from its session low, but it is still down 0.1% against a basket of competing currencies. The greenback had boasted this morning a solid gain that took it to a four-month high. DJ30 +20.06 NASDAQ -7.15 SP500 +2.14 NASDAQ Adv/Vol/Dec 1381/1.48 bln/1161 NYSE Adv/Vol/Dec 1643/545 mln/1314

2:30 pm : Although the reaction wasn't immediate, stocks have been moving higher in response to verbiage in the minutes from the most recent FOMC meeting regarding the possibility of additional monetary policy stimulus. The climb has given the Dow and S&P 500 solid gains. The Nasdaq continues to lag its counter parts, but it has finally managed to poke into positive territory.DJ30 +51.05 NASDAQ +0.64 SP500 +5.96 NASDAQ Adv/Vol/Dec 1412/1.33 bln/1116 NYSE Adv/Vol/Dec 1696/475 mln/1254

2:05 pm : Stocks haven't had much of an immediate reaction to the minutes from the most recent FOMC meeting. According to the minutes, a few members noted that, depending on how economic conditions evolve, the Federal Open Market Committee might have to consider providing additional monetary policy stimulus, especially if economic growth remained too slow to meaningfully reduce the unemployment rate in the medium run. On the other hand, a few members viewed the increase in inflation risks as suggesting that economic conditions might well evolve in a way that would warrant the Committee taking steps to begin removing policy accommodation sooner than currently anticipated.DJ30 -9.42 NASDAQ -10.80 SP500 -0.51 NASDAQ Adv/Vol/Dec 1296/1.23 bln/1209 NYSE Adv/Vol/Dec 1490/435 mln/1435

1:30 pm : Results from an auction of 3-year Notes were posted about 30 minutes ago. The auction drew a bid-to-cover of 3.22, dollar demand of $103.0 billion, and an indirect bidder participation rate of 34.5%. For comparison, the prior auction produced a bid-to-cover of 3.28, dollar demand of $105.0 billion, and an indirect bidder participation rate of 35.6%. An average of the past six auctions results in a bid-to-cover of 3.19, dollar demand of $101.9 billion, and an indirect bidder rate of 33.9%. Treasuries haven't really shown much of a response to the news.DJ30 -7.11 NASDAQ -5.96 SP500 +0.10 NASDAQ Adv/Vol/Dec 1351/1.12 bln/1145 NYSE Adv/Vol/Dec 1530/394 mln/1375

1:05 pm : Stocks have been chopping along all session. The lackluster action comes as participants continue to grapple with concerns about the precarious financial conditions of countries in the eurozone's periphery.

Overseas markets slumped overnight. Their weakness was largely owed to a lack of progress by the European Union in restoring confidence in the financial systems of Italy and its ilk. Europe's bourses were able to improve their positions as trade progressed, but they were not able to fully overcome contagion concerns. That resulted in another round of losses.

Asia's major averages also succumbed to aggressive selling. Hong Kong's Hang Seng suffered the worst with its 3% drop. Japan's Nikkei tumbled more than 1%. The country's central bank reminded the world that the global economic recovery remains challenging with its decision to cut its GDP forecast.

Although weakness abroad permeated early premarket trade, negativity diminished with the arrival of the open. Stocks have since spent the session chopping along the neutral line.

Financials have been a source of broad market support, though. The sector's 0.7% gain comes after it slumped in the prior session. They may lack market weight, but utilities are also up a relatively strong 0.7%.

Tech has lagged all session. The sector's 0.5% decline is largely owed to pronounced selling pressure against semiconductor plays. Weakness in that space has the Philadelphia Semiconductor Index wrestling with a loss of more than 3%.

Only a handful of corporate announcements have been made since the prior session's close. Among them, though, is the latest quarterly report from Alcoa (AA 15.89, -0.02). The company's earnings results came short of the consensus call, but the stock has managed to remain near the neutral line.

Data on the day featured news that the trade deficit ballooned to about $50 billion during May. It had been broadly expected to total $44 billion.

Minutes from the latest FOMC meeting are coming up at 2:00 PM ET.

The dollar had attracted renewed buying interest this morning as traders further sold the euro. That helped the Dollar Index push up to a new four-month high. However, the euro has since rallied so that it now trails the greenback by only a fractional margin. As a result, the Dollar Index is back at the flat line. DJ30 -0.45 NASDAQ -9.93 SP500 +0.28 NASDAQ Adv/Vol/Dec 1365/1.06 bln/1130 NYSE Adv/Vol/Dec 1533/370 mln/1385

12:30 pm : Oil prices started pit trade in the red, but the energy component has staged a steady climb that has taken it to $96.34 per barrel for a 1.3% gain. Despite oil's run up, energy stocks have been slipping in recent minutes. Their pullback has left the energy sector to trade with a gain of only 0.2%. Still, names like Range Resources (RRC 55.08, +1.20) and Alpha Natural Resources (ANR 44.22, +0.97) have managed to put together impressive gains.DJ30 +11.01 NASDAQ -7.34 SP500 +1.03 NASDAQ Adv/Vol/Dec 1429/966 mln/1042 NYSE Adv/Vol/Dec 1687/343 mln/1221

12:00 pm : The Dollar Index is back at the neutral line, which is its low for the day. Early strength had been the result of a weaker euro, which was clipped in response to renewed concerns about the ability of the European Union to contain the financial troubles of countries in the periphery of the eurozone. The euro has since slashed its loss so that it is now down by only 0.1% at $1.401.

Treasuries have also been cut down. Buying interest at the beginning of today's trade had the yield on the benchmark 10-year Note below 2.90%, but the yield has since climbed a few basis points. Treasuries could see some increased volatility with the release of results from an auction of 3-year Notes at 1:00 PM ET. DJ30 +23.54 NASDAQ -1.05 SP500 +2.64 NASDAQ Adv/Vol/Dec 1378/860 mln/1060 NYSE Adv/Vol/Dec 1540/304 mln/1300

11:30 am : Both the Dow and S&P 500 have poked back into positive territory, but the Nasdaq has been unable to make any kind of gain at all this session. Semiconductor stocks have been a heavy drag on the tech-rich Nasdaq, but large-cap tech names like Google (GOOG 534.22, +6.94) and Cisco (CSCO 15.88, +0.44) have offered some support.

A few regional lenders, like Huntington Bancshares (HBAN 6.35, +0.02), have provided a modicum of support to the Nasdaq. Overall, though, financials make up the strongest performing sector this session. That has given the sector an enviable gain of 0.7%. Banks haven't really been the drivers of that move, however. Instead, buying interest in insurance and financial services providers like Hartford Financial (HIG 25.66, +0.56) has fueled the move. DJ30 +7.76 NASDAQ -10.07 SP500 +0.93 NASDAQ Adv/Vol/Dec 1231/744 mln/1182 NYSE Adv/Vol/Dec 1404/265 mln/1430

11:00 am : Action has been choppy all morning. That lack of direction has left the major equity averages to trade with mostly mixed results.

Industrial stocks have supplanted tech as the worst performing sector. Tech stocks had been collectively down by about 1%, but they have managed to improve their position so that they now trade with a loss of 0.6%. Meanwhile, industrials have been grinding downward to set a fresh session low, where they have been left to trade with a 0.7% loss. Within the industrials space, Waste Management (WM 36.48, -0.67) and Republic Services (RSG 30.25, -0.50) are primary sources of weakness. DJ30 -7.11 NASDAQ -4.34 SP500 -0.31 NASDAQ Adv/Vol/Dec 1212/585 mln/1151 NYSE Adv/Vol/Dec 1473/207 mln/1315

10:35 am : Commodities are mostly lower this morning with a only a select few in positive territory.

The energy markets are lower, excluding natural gas. Crude oil futures were in the red all morning, but have been steadily trending higher. Crude has now moved back near the unchanged line from its session low of $93.55/barrel; now at $95.14/barrel. Natural gas futures are currently up 0.6% at $4.30/MMBtu.

Precious metals are mixed with small gains in gold and silver showing losses. Gold rose as high as $1554.40/oz. earlier this morning and is now up 0.1% at $1551.50/oz. Silver is down 0.7% at $35.44/oz.

Corn futures opened higher a few minutes ago following this morning's USDA supply/demand report. Corn futures are currently up 7 cents (or 1.1%) at $6.40/bushel.DJ30 -6.51 NASDAQ -8.50 SP500 +0.50 NASDAQ Adv/Vol/Dec 1140/513 mln/1211 NYSE Adv/Vol/Dec 1420/197 mln/1362

10:00 am : The Nasdaq has attempted to stabilize itself after going on the backslide amid a drop by tech stocks to a loss of 1.0%. Both tech and the Nasdaq are being weighed down by weakness in Novellus (NVLS 32.97, -2.80) shares, which have tumbled to a loss of almost 8% even though the company posted an upside earnings surprise for its latest quarter.DJ30 +5.75 NASDAQ -12.07 SP500 -0.24 NASDAQ Adv/Vol/Dec 845/190 mln/1320 NYSE Adv/Vol/Dec 1115/80 mln/1495

09:45 am : In the first few minutes of trade the major equity averages are mixed. Pressure had been sharp in early premarket trade.

Financials are offering support after they had weighed heavily on the broad market with a near 3% loss during the prior session. Today, financials are collectively up 0.5%. Bank of America (BAC 10.32, -0.03) has yet to share in the sector's strength, though.

Tech stocks, which collectively make up the most meaningful sector by market weight, are in the worst shape. The sector has already dropped to a 0.8% loss. Semiconductor stocks are in especially weak shape; as such, the Semiconductors HOLDRs ETF (SMH 32.92, -1.24) has already dropped more than 3%. DJ30 +15.59 NASDAQ -12.32 SP500 -0.57

09:15 am : S&P futures vs fair value: -5.10. Nasdaq futures vs fair value: -0.80. Ongoing concerns about the ability of Europe to contain and remedy the precarious financial conditions of countries in the eurozone's periphery stirred renewed selling interest both abroad and at home earlier this morning. Negativity has eased from earlier levels, but the S&P 500 is still expected to start the session with a loss. Amid the woes of Europe, the dollar has extended its upturn from the prior session; it was last quoted with a 0.4% gain against a basket of competing currencies. Even though earnings season got its unofficial start with the latest quarterly numbers from Dow component Alcoa (AA), which posted earnings that failed to meet the consensus forecast, corporate news flow has been largely of secondary concern. News of a deeper-than-expected trade deficit for May has also received little attention. However, minutes from the latest FOMC meeting could provide a catalyst for trade when they are released at 2:00 PM ET.

09:05 am : S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: +3.50. Oil prices are under moder pressure in the opening minutes of pit trade -- the commodity was recently quoted with a 0.4% loss at $94.75 per barrel. Early morning electronic trade saw the energy component drop below $93.60 per barrel. Coming off of a strong performance in the prior session, natural gas prices are up another 0.6% to $4.30 per MMBtu. As for precious metals, silver has extended its prior session slide so that it now trades hands at $35.35 per ounce. That makes for a 1.0% loss, so far, today. Gold prices had been up a bit earlier this morning, but they have since retreated to trade flat at $1550 per ounce. The slip in gold prices coincides with an improved tone among stock futures, which have tracked an upturn by markets of countries in the eurozone's periphery.

08:35 am : S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +3.00. The dollar has drifted lower in recent trade so that it now leads a basket of major foreign currencies by just 0.2%. Meanwhile, stock futures have managed to further improve their position so that they are now more mixed relative to fair value. A recent dose of data indicated that the deficit for May climbed to $50.2 billion from $43.6 billion. Economists polled by Briefing.com had been expected, on average, a total deficit of just $44.0 billion.

08:05 am : S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -1.30. Stock futures have managed to work their way up from morning lows in recent action, but they remain in the red as weakness from the prior session lingers in this morning's premarket trade.

Initial negativity was partly perpetuated by renewed selling abroad, which saw Asia's major averages log losses overnight that ranged from Japan's 1.4% slide to Hong Kong's 3.1% drop. The decision by Japan's central bank to cut its growth forecast highlighted concerns about the global economic recovery. Europe's bourses are back in the red amid ongoing concerns about the state of finances among countries in the eurozone periphery, but markets in those corners are starting to see some relief as trade progresses. General weakness across the region had the EuroStoxx 50 down to a near four-month low, but it has since cut its loss to 1.4%. The euro is also trying to improve its position. It still trails the dollar by 0.4%, though.

Last evening Dow component Alcoa (AA) unofficially started earnings season with its latest quarterly report. The company came short of the consensus earnings estimate, but it has suffered only limited selling pressure in the wake of that miss. The stock had already suffered an outsized loss in yesterday's trade. Infosys (INFY) shares are down much more sharply on news of an earnings miss and downside guidance.

As for data, monthly trade figures are scheduled for the bottom of the hour. Minutes from the latest FOMC meeting are scheduled to be released at 2:00 PM ET.

06:42 am : [BRIEFING.COM] S&P futures vs fair value: -8.00. Nasdaq futures vs fair value: -10.00.

06:42 am : Nikkei...9925.92...-143.60...-1.40%. Hang Seng...21663.16...-684.10...-3.10%.

06:42 am : FTSE...5846.46...-82.70...-1.40%. DAX...7090.71...-139.50...-1.90%.

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

4:53PM Puda Coal receives resignation and non-reliance letter from auditor; plan of compliance ubmission deadline extended; buy-out discussion continues (Stock remain halted from April 8th (PUDA) 6.00 : By letter dated July 7, 2011, the independent registered public accounting firm of Puda Coal. (PUDA), Moore Stephens, resigned, effectively immediately. Moore Stephens served as the Co's auditor since July 19, 2005. Moore Stephens also advised the Co that further reliance should no longer be placed on its previously issued audit reports relating to the Co's financial statements for FY09 and FY10. The resignation and non-reliance advice by Moore Stephens are based on its conclusion that it is no longer able to rely on the representations of the Co's management received in connection with its audits of the Co's financial statements for the last two fiscal years. Moore Stephens believes such management representations are materially inconsistent with the alleged unauthorized transfers of subsidiary ownership by the Co's Chairman, Mr. Ming Zhao, which are currently subject to the investigation by the Audit Committee. The Co's Audit Committee will continue its investigation into the alleged unauthorized transactions. On June 24, 2011, the Company announced that it received a notice from NYSE Amex (the "Exchange") regarding the Co's failure to satisfy certain of the Exchange's continued listing standards and that it was required to submit a plan of compliance by July 5, 2011 to help regain compliance. On April 29, 2011, the Co announced that it has received a preliminary buy-out proposal from Chairman of the Board, Mr. Ming Zhao and that an Independent Committee of the Board was authorized by the Board to review and evaluate Mr. Zhao's buy-out proposal and, if appropriate, negotiate its terms and take any other actions in connection therewith.

4:50PM Marsh & McLennan Companies announces pricing of $500 mln senior notes offering (MMC) 30.54 +0.05 : Co announced that it has priced $500 mln of 4.80% senior notes due 2021 (the "Notes"). The co intends to use the net proceeds towards the repurchase of ~$600 mln outstanding aggregate principal amount of its 5.375% Notes due 2014 and 5.750% Notes due 2015 by means of separate tender offers. The closing of the Notes offering is expected to occur on July 15, 2011, subject to certain customary conditions. BofA Merrill Lynch, Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Morgan Stanley & Co. LLC acted as joint book-running managers for the offering.

4:49PM KCS announces establishment of $500 mln KCSR credit agreement (KSU) 56.85 -1.07 : Co announced its subsidiary the Kansas City Southern Railway (KCSR) has entered into a new credit agreement with the various financial institutions as Lenders, The Bank of Nova Scotia as Administrative and Collateral Agent, Bank of America as Syndication Agent and Compass Bank, JPMorgan Chase Bank and Morgan Stanley Bank as Co-documentation Agents. This credit facility consists of a five-year $200 million revolver and five and a half year $300 mln term loan A. The cash proceeds from the new credit facility, along with cash on hand will be used to refinance $306 mln due April 2013 under the current KCSR credit facility. With these new facilities KCSR will improve its liquidity, financial flexibility, and extend its maturities.

4:45PM CenturyLink announces that the Federal Communications Commission approves CenturyLink-Savvis Merger (CTL) 39.31 -0.15 : The Federal Communications Commission (FCC) today approved the pending merger between CenturyLink (CTL) and Savvis (SVVS). The merger previously received an early termination notice under the Hart-Scott-Rodino Act from the Department of Justice and the Federal Trade Commission. The companies expect to begin combining operations later this year.

4:42PM Quaker acquires remaining interest in Mexican affiliate; will record a one-time, non-cash gain in Q3 of 2011 as a result (KWR) 44.29 +0.87 : Co announced that it has acquired the remaining ownership interest in its Mexican affiliate, TecniQuimia Mexicana, S.A. de C.V. Cash consideration of $10.5 mln was paid for the 60% interest not previously owned by Quaker, with an additional $2.0 mln payable in July 2012, subject to certain conditions. Quaker had been a joint venture partner in TecniQuimia Mexicana for more than 40 years. As part of the acquisition, co will record a one-time, non-cash gain in Q3 of 2011, representing a revaluation of its existing ownership interest in TecniQuimia Mexicana. Excluding the one-time gain and acquisition-related costs, the acquisition is expected to be slightly accretive to earnings in 2011. TecniQuimia Mexicana had sales of ~$19 mln in 2010.

4:40PM Cummins' Tim Solso retires as CEO (CMI) 103.32 -0.33 : Co announced the retirement of Tim Solso the Co's Chairman and Chief Executive Officer since 2000. Solso will be succeeded by Tom Linebarger, Cummins President and Chief Operating Officer. Linebarger has been with Cummins 17 years, and was formerly President of Cummins Power Generation and served as the Co's Chief Financial Officer. He will assume his new role on January 1, 2012.

4:38PM Pebblebrook Hotel Trust issues additional 7.875% Series A cumulative redeemable preferred shares (PEB) 20.23 +0.03 : Co announced it has sold 600,000 shares of its 7.875% Series A Cumulative Redeemable Preferred Shares ("Series A Preferred Shares") directly to CBRE Clarion Securities LLC at a price of $25.25 per share. The 600,000 shares represent additional Series A Preferred Shares having the same rights, terms and preferences as the 5,000,000 Series A Preferred Shares initially issued by the co in an underwritten public offering in March 2011.

4:29PM Pioneer Drilling announced a 6 mln share common stock offering pursuant to its effective shelf registration (PDC) : The co ends to use the net proceeds from the offering to fund a portion of the purchase price in connection with the construction of new-build AC drilling rigs and for general corporate purposes, which may include capital expenditures, working capital, acquisitions or the repayment of indebtedness. The Company may invest funds not required immediately for such purposes in marketable securities and short-term investments. Goldman, Sachs & Co. and Jefferies & Company, Inc. will serve as joint bookrunners for this offering.

4:24PM Cheviot Finl halted, news pending (CHEV) 9.08 0.00 :

4:23PM AllianceBernstein announced that preliminary assets under management decreased to $461 bln from $473 bln during June 2011 (AB) 19.88 -0.16 : The 2.5% decline was due to negative investment returns and net asset outflows, largely from the Institutions channel.

4:18PM Geokinetics announces $165 mln in project awards (GOK) 6.11 -0.40 : Co has secured work valued at approximately $165 million for several new projects and extensions to current projects in the Latin America, Asia-Pacific, EAME and North America regions.

4:18PM Rhino Resource Partners announces public offering of 2.5 mln in common units (RNO) 25.36 -0.83 : Co announced that it has commenced a public offering of 2.5 mln common units representing limited partner interests in Rhino. Rhino intends to grant the underwriters a 30-day option to purchase up to 375 K additional common units at the public offering price, to cover over-allotments, if any. Rhino intends to use the net proceeds that it will receive from this offering, along with its general partner's proportionate capital contribution, to repay outstanding indebtedness under its credit facility.

4:17PM Box Ships announces acquisition of a 2004-Built Panamax Containership and secures the vessel on a three year time charter at $28,500 per day (TEU) 9.96 +0.02 : "With the addition of the MSC Emma, we are delivering on our strategy to expand the fleet by purchasing a vessel that is accretive to both our earnings and dividend per share. In addition, we increased our contracted charter coverage to 93% of our revenue days in 2012, 71% in 2013, and 41% in 2014 by securing employment for the vessel for three years at an attractive rate, and further diversifying our portfolio of charterers, while maintaining a solid balance sheet with approximately 53% leverage after the planned acquisition."

4:14PM Gladstone Investments announces an 11.1% increase in the monthly cash distributions for July, August and September (GAIN) 7.25 -0.13 : Co declared monthly cash distributions of $0.050 per share of common stock for each of the months July, August and September of 2011 (from of $0.045 per share of common stock for each of the months April, May and June of 2011).

4:13PM Healthcare Services Group reports EPS in-line, misses on revs (HCSG) 17.57 +0.30 : Reports Q2 (Jun) earnings of $0.15 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.15; revenues rose 9.6% year/year to $211.5 mln vs the $215 mln consensus.

4:13PM Campbell Soup invests $30 mln in Pepperidge Farm Innovation Center to drive further growth in baking and snacking businesses (CPB) 34.58 +0.44 :

4:12PM KBR Inc. unit awarded contract by a joint venture sponsored by Priderock Capital Partners (KBR) 36.81 0.00 : Co announced that its Building Group has been awarded a contract by a joint venture sponsored by Priderock Capital Partners to construct The Heritage at Georgia Avenue, an apartment complex, in Silver Spring, Maryland. Construction is scheduled to begin immediately.

4:06PM CommonWealth REIT announces proposed public offering of 7.5 mln common shares (CWH) 25.41 +0.09 : Co expects to use the net proceeds from this offering to reduce amounts outstanding under its $750 mln revolving credit facility and for general business purposes, including funding acquisitions. The joint book-running managers for this offering are Citi, Morgan Stanley and Wells Fargo Securities. The co-lead managers for this offering are BofA Merrill Lynch, Jefferies, RBC Capital Markets and UBS Investment Bank. The co-managers for this offering are BB&T Capital Markets, Janney Montgomery Scott, JMP Securities and Oppenheimer & Co.

4:06PM Regeneron Pharms and Sanofi (SNY) report positive Phase 2b trial results with Sarilumab in rheumatoid arthritis (REGN) 38.09 -0.27 : Sanofi (SNY) and Regeneron Pharmaceuticals (REGN) announced results from Phase 2b trials in rheumatoid arthritis (RA) and ankylosing spondylitis (AS) with sarilumab (REGN88/SAR153191), a novel, high-affinity, subcutaneously administered, fully-human antibody targeting the interleukin-6 receptor (IL-6R). In the MOBILITY trial, there was a dose response observed in patients receiving sarilumab in combination with MTX. An ACR20 response after 12 weeks was seen in 49.0% of patients receiving the lowest sarilumab dose regimen and 72.0% of patients receiving the highest dose regimen compared to 46.2% of patients receiving placebo and MTX (p=0.02, corrected for multiplicity, for the highest sarilumab dose regimen). The most common adverse events (>5%) reported more frequently in active treatment arms included infections (non-serious), neutropenia, and liver function test abnormalities. The types and frequencies of adverse events were consistent with those previously reported with IL-6 inhibition. The incidence of serious adverse events among the five sarilumab treatment groups and placebo group were comparable. Sarilumab also demonstrated significant benefit compared to placebo in secondary endpoints, including ACR 50, ACR 70, and DAS 28 scores, additional measures of clinical activity used in RA trials. Full data of both Phase 2b trials will be submitted for presentation at an upcoming scientific conference.

4:05PM Excel Maritime Carriers concludes the cancellation of four capesize shipbuilding contracts from Korea Shipyard Co (EXM) 2.97 -0.11 : Co announced today the cancellation of four shipbuilding contracts for the construction of four bulk carrier vessels of 180,000 dwt each. The Company entered into the aforementioned contracts in December 2006 with Korea Shipyard Co. Ltd. The cancellation has no impact on the Company's financial position and will not affect the co's financial statements.

4:05PM Electronic Arts to acquire PopCap Games, deal is expected to be at least ten-cents accretive in fiscal yr; co raises Q1 guidance, reaffirms FY12 EPS (ERTS) : Co announces an agreement to acquire PopCap GamesEA will pay approximately $650 mln in cash and $100 mln in shares of EA common stock to be issued to certain stockholders of PopCap. In addition, the PopCap sellers are entitled to additional variable cash consideration, contingent upon the achievement of certain non-GAAP earnings before interest and tax performance milestones through December 2013, EA's third fiscal quarter end. On a non-GAAP basis, the acquisition is expected to be EPS neutral to EA's fiscal year 2012 results, as a result of one-time transaction costs, and at least $0.10 accretive to EA's FY 2013 non-GAAP EPS. For Q1 fiscal year 2012, EA is announcing preliminary results of approximately: $500-$525 million in non-GAAP revenue (vs Capital IQ consensus $489.5 mln) versus guidance of $460 million to $500 million of non-GAAP revenue; ($0.40)-($0.37) in non-GAAP diluted loss per share (vs Capital IQ consensus of ($0.46)) versus guidance of ($0.49)-($0.44) in non-GAAP diluted loss per share. Co is reaffirming its full year fiscal year 2012 non-GAAP guidance of $0.70 to $0.90 diluted earnings per share (vs $0.83 Capital IQ consensus). Co is also increasing its full year non-GAAP revenue guidance to a range of $3.8-$4.025 bln to account for the inclusion of PopCap for a portion of FY12 (note that current Capital IQ consensus is $3.9 bln). For Q2, the co seees a non-GAAP net loss per share in the range of ($0.15)-($0.05) (may not compare to current Capital IQ consensus of $0.11)/

4:03PM Emcore announced successful completion of third party testing, certification, and listing to IEC-62108 and UL-SUB-8703 for their G3-1090X CPV module (EMKR) 2.95 -0.03 :

4:02PM Lakeland Financial and Lake City Bank announced Michael Gavin has been promoted to Executive Vice President and Chief Credit Officer (LKFN) 23.39 +0.32 :

4:02PM UDR also announces a 15 mln share common stock offering (UDR) 25.56 +0.24 : The co expects to use the net proceeds from the offering to fund potential and recent acquisitions, for working capital and for general corporate purposes. BofA Merrill Lynch, J.P. Morgan, Morgan Stanley and Wells Fargo Securities will serve as joint book-running managers for the offering.

4:02PM Invesco announces June 30, 2011 assets under management of $653.7 bln, a decrease of 1.2% month over month (IVZ) 22.20 -0.34 : Co reported preliminary month-end assets under management of $653.7 billion, a decrease of 1.2% month over month. The decrease largely resulted from the combined effects of negative market returns and negative foreign exchange. FX decreased AUM by $1.9 billion during the month. Long-term net flows, excluding ETF, UIT and Passive AUM were positive for the month. Total average assets for the quarter were $652.8 billion and average assets excluding ETF, UIT and Passive for the quarter were $559.3 billion.

4:01PM UDR to acquire three operating communities for $687 mln and announces new development projects (UDR) 25.54 +0.22 : The acquisitions of the communities will be financed via cash, available capacity under the Company's credit facility and the assumption of a $31 million first mortgage on 21 Chelsea with an interest rate of 6.76% and a June 2012 maturity date, which can be pre-paid at par in December 2011.

3:50PM LMI Aerospace announces Ryan Bogan assumed position of COO effective July 11; previously CEO of subsidiary D3 Technologies (LMIA) 23.86 +0.14 :

3:49PM Stock indices falter in late trade, Dow -45 and S&P -4.9 set new lows, Nasdaq Comp -19 retesting its low (SPY) :

3:42PM Marsh McLennan announces increase in maximum tender amounts and announces consideration for cash tender offers for outstanding 5.375% notes due 2014 and 5.750% Notes due 2015 (MMC) 30.67 +0.18 : Co says that with respect to its previously announced cash tender offers for its outstanding 5.375% Notes due 2014 and its 5.750% Notes due 2015, it increased the maximum principal amount of each series of Notes that may be purchased pursuant to the Tender Offers from $250 mln for each series of Notes to ~$330 mln for the 2014 Notes and $270 mln for the 2015 Notes.

3:40PM Earnings Calendar (SUMRX) : Today after the close, look for the following company to report:

* XCO.

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

* ADTN, and ASML.

3:37PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Corn Rises 4.3% Following Bullish USDA report this morning (COMDX) : Continuous corn futures closed 27 cents higher at $6.59/bushel, wheat rose 33 cents to close at $6.72, cont. soybeans closed up 11 at $13.58, cont. ethanol closed up 5 cents to $2.66, while cont. world sugar futures closed up 0.01 cents at 0.29 cents.

3:22PM Stock indices drift back to mid-range -- Dow +10, S&P +1.3, Nasdaq Comp -7.8 (SPY) : The S&P pushed higher in the wake of the FOMC minutes but the run stalled at the 38% retracement of the Mon-Tues slide with it recently pulling back to mid-range.

2:39PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled higher by $2.28 to $97.43, natural gas gained 2.8 cents to close at $4.3865, RBOB gasoline finished up 2.55 cents to $3.096, while heating oil ended lower by 2.2 cents to $3.0848 (all Aug contracts).

2:32PM Powerwave sees Q2 revs in-line and continues to believe on track for meeting bottom range of 2011 revs of $650-680 mln vs. $664.64 mln Capital IQ Consensus Estimate (PWAV) 2.58 -0.19 : Co sees Q2 revs $168-172 mln vs $170.27 mln Capital IQ Consensus Estimate... "For the second quarter, in spite of some slowness in several of our markets, we were able to increase revenues by over 24 percent from the first quarter of this year and achieve the anticipated revenue range," stated Ronald Buschur, President and Chief Executive Officer of Powerwave Technologies... We continue to believe that Powerwave is in an excellent position to build upon and capture the long-term growth opportunities that are in the wireless infrastructure marketplace."

2:24PM Delta Petroleum announces ten-for-one reverse common stock split effective at the opening of trading on July 13 (DPTR) 0.45 0.00 :

2:17PM Gold through $1570 to fresh highs at $1572.40, best levels since May 2 when gold futures traded to an all-time high at $1577.40 (COMDX) : Currently higher by $9.90 to $1572.10.

2:04PM Minor upticks after FOMC minutes released -- Dow +9.9, S&P +1, Nasdaq Comp -6.3 (SPY) : Relative strength noted in Gold GLD, Gold Miners GDX, Silver SLV, Ag/Chem MOO, Materials XLB, Commodity Index, Energy XLE, Oil Service OIH, Semi SMH.

2:01PM General Motors invests $129 mln in Ohio, Indiana and Michigan Plants (GM) 30.77 +0.02 : The money is part of $2 bln being invested in 17 facilities in eight states over the next 18 months and will create or retain 4,000 jobs. For plants in Toledo, Ohio, and Bedford, Ind., it is a second helping of investment since May, bringing total investment at the plants to $287 mln and $81 mln respectively.

1:47PM Sierra Wireless to provide first 4G LTE devices for AT&T (T) customers this summer (SWIR) 11.33 -0.01 :

1:01PM Trio-Tech International wins $2.9 mln of oil and gas equipment fabrication contracts (TRT) 3.78 +0.25 : Co announced that its PT SHI Indonesia subsidiary has been awarded contracts valued at a total of $2.9 million to manufacture components for mobile offshore production units and living quarters for customers involved in offshore oil exploration in Southeast Asia. Work under these contracts is expected to be completed in September 2011.

12:51PM Netflix to offer new unlimited DVD plans and will separate streaming and DVD plans in the U.S. (NFLX) 290.96 -0.78 : Co is launching new unlimited DVD-only plans in the U.S. for $7.99 a month for the 1 DVD out at-a-time plan and $11.99 a month for the 2 DVDs out at-a-time plan. Netflix also announced it is separating its unlimited streaming and unlimited DVD plans in the U.S. to better reflect the costs of each and to give members a choice: a streaming-only plan, a DVD-only plan or the option to subscribe to both. With this change, Netflix will no longer be offering unlimited plans that include both streaming and DVDs by mail. The unlimited streaming plan will remain at $7.99 a month.

12:22PM China Auto Logistics reported that the co's aggregate lines of credit increased to RMB 927 mln ($143.2 mln) (CALI) 1.72 -0.13 : The Company's aggregate lines of credit, included a newly added RMB 80 mln ($12.4 mln) line from China Minsheng Bank have increased to RMB 927 mln ($143.2 mln). This represents a more than doubling of the co's line of credit from RMB 407 mln ($61.5 mln) at the end of last year.

12:09PM Lam Research remains under pressure, flirts with June/nine month close low (LRCX) 42.20 -2.66 : Firmly negative action throughout following MCHP earnings miss last night with LRCX sliding to new session low of 42.13 in recent trade. It thus far has been able to hold above its nine month close low from June at 42.04 (June intraday low 41.77).

12:03PM Hewlett-Packard confirms HP TouchPad 4G will be available exclusively in US on AT&T (T) network; Specific pricing and dates will be available at a later date (HPQ) 35.44 +0.15 :

11:38AM Bill Barrett announces Denver-Julesburg Basin oil acquisition for purchase price of $150 mln (BBG) 45.96 +0.47 : Co has signed a purchase and sale agreement with an affiliate of Texas American Resources Company to acquire properties in the Denver-Julesburg Basin targeting Niobrara oil that include a preliminary estimate of 7 mln barrels of oil equivalent (MMBoe) net proved reserves, ~650 Boe per day net production and ~28,000 net acres of mineral leasehold, primarily on fee lands. Current production is predominantly from the Codell and Niobrara formations. The purchase price is $150 mln. Teh preliminary estimate of 2011 capital expenditures associated with the acquisition is up to $35 mln.

11:33AM Late morning push back toward morning bounce highs for stock indices -- Dow +9.6, S&P +1.1, Nasdaq Comp -5.4 (SPY) : Relative strength in recent trade has been noted in REITs IYR, Finance XLF, Reg Bank KRE, Housing XHB, Gold Miners GDX.

11:31AM Hertz Global expands car sharing with 'Hertz On Demand' (HTZ) 23.27 +0.66 : Co is adding new vehicles and locations, and deploying the in-car and customer support technology. The car sharing service is now named Hertz On Demand, formerly Connect by Hertz... Co has implemented several initiatives including: elimination of membership fees; expanded one way service; guaranteed availability Monday through Thursday in New York City, more car and SUV options including the addition of electric vehicles and plug-in hybrid vehicles (PHEV's) at select locations; a simplified reservation process for booking in any country/city where available; and a continued focus on unparalleled member service including 24/7 live, in-car assistance.

11:03AM General Dynamics receives $16 mln navy award for common missile compartment work (GD) 73.12 -0.62 : The award modifies a $76 mln contract announced in December 2008 for engineering, technical services, concept studies and design of a Common Missile Compartment for the next-generation ballistic missile submarines being developed for the Royal Navy and the U.S. Navy. If all options are exercised and funded, the overall contract would have a value of more than $651 mln.

11:02AM Veolia Environnement: CONSOL Energy (CNX) selects co's subsidiary Veolia Water to design, build and operate new facility to treat and recycle mine water (VE) 25.17 -0.29 : The agreement includes a 10-year operating partnership with CONSOL, plus additional 5-year options to operate the facility, coupled with an environmentally sustainable design and construction approach. Veolia Water will be treating mine water from CONSOL's Blacksville #2, Loveridge, and Robinson Run mining operations Full operation of the treatment facility is expected to commence by May 2013.

10:44AM Cisco Systems notches new session high of 15.95 but stalls slightly under last week's rebound high at 15.99 (CSCO) 15.84 +0.41 : Note that its 50 ema/sma come into play slightly above at 16.03/16.09.

10:42AM S&P +1.4 and Nasdaq Comp -1.9 hovering at/near session highs -- Dow +5.7 is in the upper end of its morning range (SPY) : Lagging Semi has set a minor new rebound high off support noted in the 09:40 update.

10:39AM Crude ticks to fresh highs at$95.44; now up 40 cents to $95.55 (COMDX) :

10:35AM Expedia and Groupon confirm first live deals on Groupon Getaways with Expedia (EXPE) 30.25 -0.14 :

10:23AM Globecomm Systems has been awarded a contract amendment valued at ~$2.4 mln (GCOM) 15.81 +0.04 : Co has been awarded a contract amendment for transportable satellite ground terminals, valued at ~$2.4 mln. This contract amendment changes the technical solution for the vehicles supplied under this contract. Globecomm previously announced ~$29.5 mln in contracts for the design and development of the system, bringing the combined contract value to ~$31.9 mln. Globecomm has recognized $5.8 mln in revenue under the contract.

10:08AM Nasdaq Comp -6 and S&P +1 stabilize near first level supports (TECHX) : Noted first level support in The Technical Take at 2793/2783 Nasdaq Comp (session low 2782) and 1314 S&P (session low 1315) with a stabilization attempt noted over the last 15 minutes. The S&P has set a fractional new session high of 1321 with short term resistance of interest at 1324/1326.

10:01AM JPMorgan Chase vacillating near morning bounce high of 39.77 after morning hold at June low of 39.24 -- session low 39.24 (JPM) 39.73 +0.30 :

10:01AM Support.com announces Secure My Account for Facebook for privacy (SPRT) 4.54 +0.02 : Co announced Support.com Secure My Account for Facebook, a new service to help Facebook users set proper security levels on their accounts and ensure that private and personal information is safe, secure, and hidden from non-friends, predators and invasive marketers.

9:58AM Opening Point Gainers/Losers (TECHX) : Point Gainers: RADS (+6.56), CF (+4.14), BGC (+2.07), WTFC (+1.83), CLNE (+1.53), MTB (+1.43), SPG (+1.04), MA (+1.29), BXP (+0.87), ZMH (+0.95)

Point Losers: PCLN (-9.74), WWW (-4.72), MCHP (-4.79), FFIV (-4.37), JVA (-4.76), SOXL (-3.98), INFY (-3.70), TREX (-3.51), GMCR (-3.25), NFLX (-2.82), AAPL (-2.64), NVLS (-2.80)

9:55AM Relative sector strength (TECHX) : Ag/Chem (CF, POT, AGU, MOS, IPI, MON), REITs (IYR, AIV, PSA, CPT, PEI, KIM, EQR, MAC, SPG, VNO), Gold (GFI, IAG, AU, FCX, KGC), Finance/Reg Bank (AXP, TRV, JPM, WFC, FMER, STT, KRE, FULT, MBFI, ONB).

9:48AM New session lows for Nasdaq 100 -13 / Nasdaq Comp -14 with Dow -4.4 back in the red -- S&P -2.3 (SPY) :

9:40AM Semiconductor Hldrs ETF slides under 200 day (SMH) 32.89 -1.27 : Noted the relative weakness in Semi earlier and it has continued to come under pressure this morning with the SMH slide back under its 200 ema/sma (33.23/33.01, session low 32.86). Minor supports are at 32.85/32.80 and the 32.60/32.55 area -- INTC -2.5%, LLTC -3.7%, KLAC -3.3%, XLNX -3.2%, AMAT -2.9%, NVDA -2.7%, LRCX -2.6%, BRCM -2.5%, SNDK -2.3%, MRVL -2.2%.

9:34AM Mixed start with Dow +1 outperforming AXP +1.1%, TRV +0.6%, MMM +0.5%, while Semi SMH -2.7% weighs on Nasdaq Comp -6.1 (SPY) :

9:32AM Chunghwa Telecom unit selects Spirent for Cloud Security Testing (CHT) 35.43 +0.19 : Chunghwa Telecom Laboratories (CHTTL), the research and development arm of Chunghwa Telecom, Taiwan's largest network operator, clearly understands the need to ensure secure and reliable cloud services, and is relying on solutions from Spirent Communications to help validate the security of its cloud computing centers.

9:29AM Open Text signs global launch partner agreement with Microsoft (MSFT) for SQL Server Denali (OTEX) 65.37 : Co announced that it has been named a Microsoft Global Launch Partner for SQL Server. As part of the agreement as a Global Launch Partner for Denali, OpenText will provide support for SQL Server Denali for core ECM products shortly after the final release of Denali.

9:21AM Marsh McLennan announces early results of cash tender offers for outstanding 5.375% notes due 2014 and 5.750% notes due 2015 (MMC) 30.49 : Co said because the Tender Offers were oversubscribed as of the Early Tender Date and the principal amounts of the 2014 Notes and the 2015 Notes validly tendered and not withdrawn as of the Early Tender Date exceeded the applicable Series Maximum Tender Amounts, ~75.75%, or $250 mln aggregate principal amount, of the 2014 Notes and 75.69%, or $250 mln aggregate principal amount, of the 2015 Notes validly tendered and not withdrawn as of the Early Tender Date will be accepted for payment in accordance with the proration procedures described in the Offer to Purchase, and no additional 2014 Notes or 2015 Notes will be accepted. Holders may no longer withdraw tendered Notes.

9:20AM TiVo announced earlier its TiVo App is now available for iPhone and iPod touch (TIVO) 10.31 :

9:16AM On The Wires (WIRES) :

* Penske Automotive Group (PAG) announced the acquisition of the Crevier BMW and MINI franchises in Santa Ana, California. The Crevier franchises represent approximately $275 mln in estimated annual rev. The transaction was financed using cash flow from operations and availability under PAG's U.S. revolving credit facility.
* Starwood Hotels & Resorts Worldwide (HOT) announced that its iconic Sheraton brand has opened a new flagship hotel in Stamford, Connecticut.
* CRH's (CRH) Allied Building Products is now stocking solar photovoltaic products in three U.S. locations: Santa Ana, California, Honolulu, Hawaii and East Rutherford, New Jersey.
* Raytheon's (RTN) BBN Technologies has been awarded $2.4 mln in funding by the Defense Advanced Research Projects Agency to design and integrate an information architecture for wireless small module satellites.
* ZOLL Medical Corporation (ZOLL) announced that it has granted exclusive rights to Asahi Kasei Corporation, Tokyo to import and distribute the ZOLL AED Plus in Japan through its subsidiary, ADMIS.
* Fiserv (FISV) announced that RHB Banking Group has chosen Fiserv to support the bank's interest-rate risk and liquidity risk management strategies.
* Tech Data (TECD) announced the introduction of its new StreamOne(TM) Solutions Store, an end-to-end supply chain platform that revolutionizes how the channel sells and distributes software and cloud-based services.
* Level 3 Communication (LVLT) announced that Level 3 and Global Crossing Limited (GLBC) each received from the U.S. Department of Justice a request for additional information under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to Level 3's previously announced acquisition of Global Crossing. Level 3 intends to respond to the request appropriately.
* United Solar, a wholly owned subsidiary of Energy Conversion Devices (ENER) announced that it has achieved a world record efficiency of 16.3% for thin-film silicon solar technology.

9:02AM Intel's McAfee announced that by Q3 2011 Michael DeCesare and Todd Gebhart will assume the role of co-presidents (INTC) 22.66 : DeCesare is currently executive vice president for global operations, and Gebhart is executive vice president and general manager, consumer, mobile and small business at McAfee. McAfee also announced the resignation of President David DeWalt, who will continue as a non-employee member of the McAfee Board of Directors after serving the role of president for more than four years.

9:01AM CVD equipment 1st half orders reach all-time high of $24.6 mln (CVV) 12.66 : Co announces record orders of ~$24.6 mln for the 6 months ended June 30, 2011, an increase of 165% compared to $9.3 mln for the 6 months ended June 30, 2010. Orders continue to be booked at high levels, as the co received ~$8.4 mln of new orders for the 3 months ended June 30, 2011, also a record high for a quarter ended June 30.

8:57AM Navios Maritime Acquisition announces delivery of one MR2 Product tanker vessel with employment (NNA) 3.58 : Co announces a 2009-built MR2 product tanker vessel of 50,542 dwt, was delivered today to co's owned fleet. The vessel is employed under long-term charter-out contract with a remaining term of three years. The rates are $22,490 net per day for the first year and $21,503 net per day for the remaining charter out period. The vessel will generate ~$5.6 mln of annual EBITDA and $17.4 mln of aggregate EBITDA assuming operating expense approximating current operating costs and 360 revenue days per year. Time Charter Coverage Navios Acquisition has contracted 98.0% and 63.3% of its available days on a charter-out basis for 2011 and 2012, respectively.

8:57AM News Corp announces stock repurchase program of $5 bln (NWSA) : This program increases the ~ $1.8 bln remaining under the co's current program to $5 bln. News Corporation is targeting to acquire the $5 bln of Class A common stock and Class B common stock from time to time over the next 12 months.

8:55AM Penske Auto acquires Crevier BMW and MINI; no terms disclosed; franchises represent ~$275 mln in estimated annual revenue (PAG) 22.88 :

8:51AM Orbit Int'l receives two new orders valued in excess of $630,000; brings YTD +79% YoY (ORBT) 5.20 : Co announces received two new orders with an aggregate value in excess of $630,000. Furthermore, the co expects to receive additional orders for this power supply in 2012 and beyond. The co also reported that inclusive of these new orders, year-to-date bookings were 79% higher than the same period last year.

8:48AM On The Wires (WIRES) :

* Calix (CALX) announced that Broadband Stimulus award winner Peoples Rural Telephone Cooperative has selected the Calix B6 Ethernet Service Access Nodes, along with the 2000 family of optical network terminals, to bring fiber-based broadband services to Jackson and Owsley counties in Kentucky.
* SDIX (SDIX) announced that the co is expanding the development of its E. coli pathogen testing platform to include the top six shigatoxin-producing E. coli types.
* LRAD Corporation (LRAD) announced that it has received an order for a LRAD-RX installation at the main visitors' entrance of the Pentagon as part of a security upgrade.
* Rovi Corporation (ROVI) and Toshiba Corporation (TOSBF) have signed a multi-year agreement for use of Rovi TotalGuide and its interactive program guide patent portfolio in Toshiba televisions, Blu-ray players and recorders, as well as mobile and tablet devices in the United States and Europe, expected to be sold in Spring 2012.
* Integral Systems (ISYS) announced that it has been awarded a contract by SKY Perfect JSAT to upgrade its ground systems with the latest version of Integral Systems' industry leading EPOCH Integrated Product Suite satellite command and control software.
* Embraer (ERJ) delivered 25 commercial and 23 executive jets in the second quarter of 2011.
* MedAssets (MDAS) announced that Benefis Health System of Great Falls, Montana, has selected MedAssets Revenue Cycle Technology Solutions to further improve cash flow, reduce accounts receivable days and improve claim payment rates.
* Boston Scientific (BSX) has completed patient enrollment in the ASTI post-market clinical follow-up study designed to evaluate its Adapt Monorail Carotid Stent System in combination with its FilterWire EZ Embolic Protection System for treatment of carotid artery disease in patients at high risk for carotid surgery.
* The Alzheimer's Drug Discovery Foundation announced a collaboration with Charles River Laboratories (CRL) for the creation of a new research award program entitled Use of Aged Rats as a Relevant Preclinical Model for the Development of Therapies for Cognitive Aging and Alzheimer's Disease.
* TiVo (TIVO) announced its TiVo App is now available for iPhone and iPod touch.
* Koppers (KOP) and FirstEnergy (FE) have agreed to a five-year contract that begins June 16, 2011, and continues through June 15, 2016; KOP will provide treated utility poles to FE through its Railroad and Utility Products business at a total estimated value of $20-25 mln over the contract period.

8:36AM Spar Group signs joint venture in India (SGRP) 1.39 : Co announces the signing of a joint venture agreement with Krognos Integrated Marketing Services Private Limited to expand its operations in India. The new venture, in which SPAR will hold a 51% ownership interest, expects to operate under the name SPAR Krognos Marketing India Private Ltd. The agreement is projected to generate $3 million in annualized profitable revenue over the next twelve months, while providing leading-edge merchandising and marketing, services to manufacturers and retailers throughout India.

8:35AM Crane acquires W.T. Armatur GmbH & Co. for ~$38 mln on a cash and debt free basis (CR) 49.56 : WTA is primarily a manufacturer of bellows sealed globe valves, as well as certain types of specialty valves, for chemical, fertilizer and thermal oil applications. "This acquisition will strengthen and broaden our portfolio by providing valves with zero fugitive emissions used in severe service applications. I expect this acquisition will be slightly dilutive to earnings in 2011."

8:34AM KLA-Tencor increases quarterly dividend level to $0.35/share from $0.25/share (KLAC) 42.29 : This increase is expected to take effect beginning with KLA-Tencor's quarterly dividend to be declared in August 2011.

8:33AM Adept Tech receives major order from packaging automation solution partner in Australia (ADEP) 3.95 : Co announced that Walls Machinery has secured an order for two dual OctoLoader systems inclusive of four Adept Quattro s650H robots to automate secondary packaging operations for a leading shelf ready food packaging company. As an Adept Preferred Partner, Walls Machinery is working closely with Adept's engineering team in deploying systems from the company's recently acquired Denmark entity.

8:32AM Conmed Healthcare Mgmt to be acquired at $3.85 per share in cash (CONM) 3.56 : Co announced that it has entered into a definitive merger agreement to be acquired by Ayelet Investments, an affiliate of James H. Desnick, M.D., for $3.85/share in cash, or an aggregate purchase price of ~$57.2 mln. The board of directors of Conmed has unanimously approved the transaction. The transaction has fully committed financing to be provided by Levine Leichtman Capital Partners.

8:30AM Wells-Gardner Electronics announced that the Illinois Supreme Court has unanimously upheld the legality of the Capital Spending Bill and therefore the Illinois Video Lottery Terminal business (WGA) 2.34 : Co announced that the Illinois Supreme Court has unanimously upheld the legality of the Capital Spending Bill and therefore the Illinois Video Lottery Terminal (VLT) business. "This ruling by the Illinois Supreme Court is positive news for the Company," said Anthony Spier, Wells-Gardner's Chairman and Chief Executive Officer. "We anticipate that the first placements of VLT units will be in late first quarter or early second quarter 2012. We project that the Illinois VLT business will add additional sales of between $80 and $93 million over the next four years generating additional net income before tax of between $4.5 and $7.0 million over that period. This business will be conducted by WGA's American Gaming & Electronics (AG&E) unit."

8:28AM On The Wires (WIRES) :

* Trina Solar (TSL) announced today that it has extended the period during which holders of its 4.00% Convertible Senior Notes due 2013 in aggregate principal amount of $138 mln may exercise their put option in connection therewith to any time prior to 5:00 p.m., New York City time, on August 9, 2011.
* Envestnet (ENV) and ByAllAccounts announce a strategic partnership that gives financial advisors a new opportunity to grow client wealth and increase their assets under management through the Envestnet|Vantage performance reporting solution.
* CSC (CSC) announced that Swiss Re has selected multiple CSC software applications as its strategic property and casualty insurance processing platform to support its North American Corporate Solutions business.
* Pacific Pride Services, a subsidiary of Wright Express Corporation (WXS) announced a new relationship with Redding Oil Company to open a Pacific Pride franchise in Red Bluff, CA. The new site, located at 782 Antelope Blvd, joins a network that offers drivers access to over 1,000 commercial fueling cardlock sites across the United States and Canada.
* China Recycling Energy (CREG) announced that its wholly owned subsidiary, Xi'an TCH Energy Technology Co has entered into a strategic leasing agreement with Cinda Financial Leasing Co, an affiliate of China Cinda Asset Management.
* Codexis (CDXS) announced the first scale up manufacturing of the its proprietary cellulase enzymes at commercial scale.
* Cadence Design Systems (CDNS) announced it has acquired Azuro. Terms not disclosed.
* Exact Sciences (EXAS) announced the initiation of the pivotal trial for the co's multi-marker molecular diagnostic screening test for the early detection of colorectal cancer.

8:27AM Gold into positive territory; now up $2.10 to $1551.30 (COMDX) :

8:25AM Yingli Green Energy expects to capture 15% of solar market; module sales in North America top 250 MWs (YGE) 7.54 :

8:20AM T3 Motion will distribute the T3 ESV for police, military, and private security purposes throughout the country; initial $111,000 order will be shipped within the next sixty days (TTTM) 2.43 :

8:18AM Acorn Intl: Bireme Limited announces final proration results of tender offer for Acorn International; The offer price is $2.00/share, which represents $6.00 per ADS, in cash (ATV) 4.91 : Co announced final proration results of its tender offer to purchase ordinary shares, par value $0.01 per share of Acorn International each representing three Ordinary Shares, in an aggregate amount not to exceed 20 mln ordinary Shares. The offer expired at 5:00 p.m. New York City time on July 1, 2011.

8:06AM Pandora Media also announced new relationship with Scion and an expansion of its relationship with Ford Motor Company (F) (P) 19.26 : Co announced that it has increased its automotive footprint via a new relationship with Scion and an expansion of its relationship with Ford Motor Company where the service will be available in 10 Ford vehicles and two Lincoln vehicles. Currently, Pandora has in-vehicle integrations with BMW, Ford, Mercedes-Benz, MINI and Scion. Additional automotive manufacturers who have announced plans to integrate Pandora into their vehicles include Buick, Chevrolet, GMC, Hyundai and Toyota. The radio service is also available via integrations in popular aftermarket automobile radios made by Alpine Electronics, JVC, Kenwood and Pioneer, with additional radios from Sony coming soon.

8:05AM Techprecision unit received an order; Projections from customer indicate annual requirements of more than 250 units beginning in January 2012 (TPCS) 1.65 : Co announced that its Wuxi Critical Mechanical Components (WCMC) division has received an order for a new generation of polysilicon material production equipment from a new Tier-1 customer. This represents the third strategic tier-1 customer signed by WCMC since it was formed in October of 2010. The initial order for two beta units is expected to ship by the third quarter of fiscal 2012. Projections from the customer indicate annual requirements of more than 250 units beginning in January 2012 based upon success of the first two units.

8:05AM Celsion announces appointment of Gregory Weaver to CFO; effective July 8th (CLSN) 3.57 : Co announces the appointment of Gregory Weaver to the role of Senior Vice President and Chief Financial Officer, and the promotion of Jeffery Church, currently Vice President and Chief Financial Officer, to the newly created role of Senior Vice President, Strategy and Investor Relations.

8:05AM Arena Pharm announces Phase 1 results for APD811 for pulmonary arterial hypertension; co say encouraged by the results (ARNA) 1.48 : CO announced today results from a Phase 1 clinical trial of APD811, an orally bioavailable agonist of the prostacyclin receptor which is intended for the treatment of pulmonary arterial hypertension, or PAH. The trial evaluated 32 healthy volunteers in four cohorts of eight participants each - six randomized to APD811 and two to placebo. APD811 was rapidly absorbed and demonstrated dose-proportional pharmacokinetic exposure over the tested dose range. The terminal half-life was ~20 hours.

8:04AM Aurico Gold sees Q2 rev above consensus; increased production profile (AUQ) 11.35 : Co sees Q2 revs $113 mln vs $111.47 mln Capital IQ Consensus Estimate; op. cash flow $55 mln During the quarter, the Ocampo mine produced 19% more gold equivalent ounces (realized) as compared to Q1 2011 at cash costs of $340 per realized gold equivalent ounce, resulting in a record margin of 77% or $1,171 per gold equivalent ounce. The co's consolidated production for the quarter was augmented by solid production from the El Chanate mine that was acquired effective April 8, 2011. The co also announces that based on the continued success in reducing costs at Ocampo during the first six months of the year, the 2011 cash cost outlook previously reported for Ocampo has been decreased to $400-$430 per gold equivalent ounce from $425-$455 at a gold to silver ratio of 55:1. Q2 op. cash flow of $55 mln; net free CF of $21 mln. "We begin the second half of the year with over $102 million in cash on-hand and three wholly-owned Mexican mines in production that will contribute to a growing and diversified production profile going forward."

8:03AM St. Jude Medical announces FDA clearance for industry-first neurostimulation lead delivery system for the management of chronic pain (STJ) 46.39 : Co announced the FDA clearance and limited market release of the Epiducer lead delivery system for neurostimulation therapy. This first-of-its-kind system allows physicians to place multiple neurostimulation leads through a single entry point.

8:02AM Quest Diagnostics: Clinical Genomics Extends Strategic Alliance for Colorectal Cancer Testing Development with Quest Diagnostics (DGX) 58.60 : Co announced agreement with Quest Diagnostics to extend a strategic alliance between the two companies related to Clinical Genomics' proprietary biomarkers for colorectal cancer and precancerous colorectal cancer tumors. Under the agreement, Quest Diagnostics will make milestone payments to Clinical Genomics for the development and validation of new molecular blood tests for the early detection of colorectal cancer. Clinical Genomics has been awarded payments after successfully achieving key research and development goals. Additional terms were not disclosed.

8:00AM Crude trades up to near overnight highs; now off $0.50 to $94.65 (COMDX) :

7:57AM CECO Environ. announces new orders totaling ~ $5.2 mln (CECE) 6.80 : These new orders include one for a FCC cyclone from a large refinery in Mexico, several orders for high efficiency cyclones from a large paper products manufacturer in the U.S., one from the polysilicon industry in China for a high efficiency cyclone, an order from a multinational mining co in North America for an APC system and a damper order from a U.S. power co.

7:55AM Cummins increased its qtrly cash dividend on common stock by 52% to 40 cents/share from 26.25 cents/share (CMI) 103.65 :

7:55AM Fastenal beats by $0.01, beats on revs (FAST) 36.00 : Reports Q2 (Jun) earnings of $0.32 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 22.8% year/year to $701.7 mln vs the $689.5 mln consensus. Co states: The growth in 2010, and into 2011, generally continues the improving trend we saw in the latter half of 2009. The negative growth in 2009 relates to the general economic weakness in the global marketplace. The strengthening Canadian dollar (when compared to the United States dollar) added approximately 0.7 percentage points to our daily sales growth in the first six months of 2011." With regard to co's buy back, co states it did not purchase any stock in 2010 or in the first half of 2011. They have remaining authority to purchase up to 1,800,000 shares.

7:54AM Pullback in dollar helps gold trade back to near unchanged on the morning; now down $1.60 to $1547.50 (COMDX) :

7:53AM Great Panther Silver reports Q2 production at its two wholly-owned Mexican silver mining operations, Topia and Guanajuato (GPL) 3.60 : Metal production from the two mines, at 562,944 silver equivalent ounces, including 386,209 ounces silver, 1,931 ounces gold, 266 tonnes lead, and 348 tonnes zinc, is within 2% of production for the second quarter 2010. Plant throughput is up by an average of 30% compared to Q2 2010, however, ore grades were lower than anticipated. Record quarterly metal production of 212,108 Ag eq oz was achieved at Topia, including record silver production of 143,774 silver ounces.

7:48AM On The Wires (WIRES) :

* Jacobs Engineering Group (JEC) announced that it has been awarded a contract by North West Redwater Partnership to provide detailed engineering, procurement and construction services for the development of a new oil refinery in Alberta, Canada. The Co also announced that it has been awarded a consultancy agreement for the provision of professional services to EDF's NNB Generation Co.
* BMC Software (BMC) announced the availability of the industry's most robust application performance management product portfolio.

7:42AM On The Wires (WIRES) :

* Zogenix (ZGNX) and DURECT (DRRX) announced today a development and license agreement. Under the agreement, Zogenix will be responsible for the clinical development and commercialization of a proprietary, long-acting injectable formulation of risperidone using DURECT's SABER controlled-release formulation technology in combination with Zogenix's DosePro needle-free, subcutaneous drug delivery system.
* Life Technologies (LIFE) introduced the first USDA-approved, real-time PCR test to detect a broad range of Swine Influenza Virus, the Applied Biosystems VetMAXTM-Gold SIV Detection Kit from Life Technologies provides veterinary diagnostic laboratories around the world with a highly accurate tool to test production swine for SIV strains, including H1N1.
* Aeterna Zentaris (AEZS) announced that the European Patent Office has granted a patent for the use of alkyl phosphocholines, more specifically perifosine, in the preparation of a medicament for the treatment of benign and malignant tumours, prior to and/or during the treatment with approved anti-tumour anti-metabolites such as 5FU and capecitabine.
* EMCOR Group (EME) announced that its University Mechanical & Engineering Contractors subsidiary in California has been awarded a contract for the installation of HVAC, mechanical, and plumbing systems at the General Services Administration's San Ysidro Land Point of Entry, the busiest land port in the world, located in San Diego, California.

7:34AM Trina Solar announces an independent director and chairman of the audit committee has resigned from board and audit committee (TSL) 19.76 : CO announces that Peter Mak, an independent director and chairman of the audit committee of the co , has resigned from the board of directors and audit committee effective July 10, 2011 to focus on other personal and professional pursuits. Jerome Corcoran, an independent director of the co, has been appointed as chairman of the audit committee of the board to replace Mak. Corcoran previously served as a member of the audit committee of the board from December 2006 to April 2010.

7:33AM Qualcomm appoints Matt Grob as Chief Technology Officer (QCOM) 58.24 :

7:31AM IsoRay announces cesium-131 treatment for lung cancer using da Vinci Robotic Surgery System (ISR) 1.15 : Co announced a milestone in the use of its proprietary Cesium-131 brachytherapy seeds in mesh. Dr. Deepak Khuntia performed the world's first implant of Cesium-131 mesh brachytherapy in an early stage lung cancer patient using the da Vinci Surgical System, desinged and built by Intuitive Surgical (ISRG). Dr. Khuntia and the surgical team performed the surgery at El Camino Hospital in California.

7:31AM Trex lowers Q2 rev guidance below consensus (TREX) 23.96 : Co lowers Q2 rev guidance to ~$78 mln from $115 mln vs $112.99 mln Capital IQ Consensus Estimate. "Sales did not materialize as expected during the second quarter. Poor weather and, to a lesser extent, the unfavorable macroeconomic environment, caused the lower-than-expected revenue performance. Many parts of the country experienced major winter storms through April, which were then followed by heavier-than-normal precipitation during most of May, further delaying the start of the decking season. As a result, our trailing nine-month revenue through June was down ~4% YoY. We believe that the external factors influencing our sales are also impacting the overall market and that we continue to expand Trex's industry-leading market share. "Sales order activity in June exceeded order activity in June 2010 by 15% as the weather improved. Order activity in the first week of July continued at a pace above July of last year. As we move further through the month, we will be in a better position to provide more detailed third-quarter revenue guidance when we report our second-quarter financial results on August 1, 2011."

7:15AM On The Wires (WIRES) :

* Crosstex Energy (XTEX) and Crosstex Energy (XTXI) announced the Partnership and Apache (APA) will jointly invest $85 mln in a new-build natural gas processing facility in the Permian Basin in West Texas.
* Callidus Software (CALD) announced that a global leader in construction equipment has selected the Callidus Monaco On Demand SPM suite to drive the performance of its global sales organization across more than 180 countries.
* Lingo Media and Lenovo (LNVGY) announced the signing of a Custom Software Business Partnership Agreement which provides for a custom version of Lingo Media's English language learning software to be installed on millions of Lenovo computers sold in China.
* Metropolitan Health Networks (MDF) announced that its wholly owned provider service network ,MetCare of Florida, has expanded its market area to include Escambia and Santa Rosa counties.
* CB&I (CBI) announced that it has been awarded a contract, valued in excess of $300 million, for a new natural gas processing plant in the Northeastern U.S.

7:09AM Mitek Systems Inc. shares approved for NASDAQ Capital Market Listing; expects to commence trading on the NASDAQ Capital Market on July 14 (MITK) 7.99 :

7:07AM PharmAthene's rPA anthrax vaccine program demonstrates 36 month product stability (PIP) 2.95 : Co announces it has achieved an important program milestone in its recombinant protective antigen anthrax vaccine program and demonstrated 36 month stability of its rPA drug product candidate previously produced at Avecia Biologics Laboratories in the United Kingdom.

7:05AM Sensata Tech promotes Robert Hureau to Chief Financial Officer (ST) 37.44 : Co announces that Robert Hureau has been promoted to Senior Vice President and Chief Financial Officer, effective immediately

7:04AM Mylan Labs receives voluntary license rights to Gilead's (GILD) HIV/AIDS pipeline products in developing world (MYL) 41.27 : Co announces announced an expanded licensing agreement between Gilead Sciences (GILD) and Mylan's Matrix Laboratories. Matrix has licensed the rights to produce and market generic versions of three Gilead HIV/AIDS therapies, if and when they receive regulatory approval. The Gilead products, which are currently in late-stage clinical development, include: Elvitegravir, an investigational integrase inhibitor; Cobicistat, an investigational antiretroviral boosting agent; and the "Quad," a once-daily, single-tablet combination of four separate Gilead medicines.

7:04AM Gulfport Energy prices 3 mln shares of common stock at $28.75 (GPOR) 29.50 : Co announced that it has priced its previously-announced underwritten public offering of 3 mln shares of its common stock at a public offering price of $28.75/share. Gulfport granted the underwriters a 30-day option to purchase up to an additional 450K shares of common stock at the public offering price solely to cover over-allotments. Net proceeds to Gulfport from the sale of the 3 mln shares, after underwriting discounts and estimated expenses, will be ~$81.9 mln. Gulfport intends to use the net proceeds from this offering to repay the current outstanding balance under its secured revolving credit facility, to fund its acquisition of oil and gas assets, including in the Utica Shale in Ohio, and for general corporate purposes, which may include expenditures associated with Gulfport's 2011 drilling programs. The offering is expected to close on July 15, 2011, subject to customary closing conditions.

7:02AM CB&I receives $300 mln contract for US gas processing plant (CBI) 38.29 : Co has been awarded a contract, valued in excess of $300 million, for a new natural gas processing plant in the Northeastern U.S.

7:02AM Central Vermont Public to merge with Gaz Metro Limited Partnership; all-cash transaction will provide CVPS shareholders $35.25/share, a 45% premium over the closing price prior to the announcement of the previous agreement CVPS had reached with Fortis (CV) 36.02 : Cos announced that a definitive agreement for the sale of CVPS has been signed. This clears the path for the combination of CVPS and Green Mountain Power, a subsidiary of Gaz Metro, into one stronger utility for Vermonters. The new agreement provides significant benefits for customers, community, employees and shareholders, including $144 million in customer savings over 10 years, a Vermont ownership interest in VELCO, and the establishment of the Headquarters for Operations and Energy Innovation in Rutland. The all-cash transaction will provide CVPS shareholders $35.25 per common share, a 45 percent premium over the closing price of $24.32 immediately prior to the announcement of the previous agreement CVPS had reached with Fortis Inc. (Fortis). The CVPS Board has terminated the agreement with Fortis after deeming "superior" the offer from Gaz Metro.

7:01AM Spectranetics Appoints Scott Drake as President and Chief Executive Officer; effective August 10, 2011 (SPNC) 6.76 : Co announces the appointment of Scott Drake as President and Chief Executive Officer, effective August 10, 2011. Mr. Drake joins Spectranetics from DaVita (DVA) where he held the position of Senior Vice President, Operations

6:33AM On The Wires (WIRES) :

* Micrel (MCRL) announced that it had joined MIPI Alliance as an Adopter Member. MIPI Alliance strives to establish specifications for standard hardware and software interfaces in mobile devices.
* Mattson Technology (MTSN) introduced the paradigmE Si for semi-critical silicon etch applications.

6:32AM Wolverine beats by $0.02, beats on revs; reaffirms FY11 EPS guidance, revs guidance (WWW) 42.60 : Reports Q2 (Jun) earnings of $0.48 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.46; revenues rose 20.1% year/year to $310.1 mln vs the $294.2 mln consensus. Co reaffirms guidance for FY11, sees EPS of $2.40-2.50 vs. $2.48 Capital IQ Consensus Estimate; sees FY11 revs of $1.38-1.42 bln vs. $1.41 bln Capital IQ Consensus Estimate. "The outstanding financial results in the second quarter were led by strong double-digit revenue increases in all branded groups, most notably in the Outdoor Group and our Merrell brand." Gross margin in the quarter was 39.4% compared to prior-year adjusted gross margin of 40.3%. The decline in gross margin versus the prior year was primarily attributable to negative results from the co's owned manufacturing operations.

6:26AM Vitran sees adj Q2 EPS of ($0.06)-($0.03) vs $0.22 Capital IQ Consensus Estimate (VTNC) 13.25 : Vitran sees adj Q2 EPS of ($0.06)-($0.03) vs $0.22 Capital IQ Consensus Estimate. The outstanding performance within the Canadian LTL business unit and Supply Chain Operation segment were eclipsed by the poor operating results in the U.S. LTL business unit. Both of these operations exceeded the prior year financial results and the SCO segment recorded another record quarter. The challenge of working out of the first quarter weather issues were intensified by the timing of the Milan Express LTL acquisition which at close had a backlog of approximately 2.5 days worth of freight. Despite year-over-year improvement in second quarter tonnage of 15.8% within the U.S. LTL business unit, labour costs surpassed the tonnage gains. The Company made progress as the second quarter unfolded, however the results were disappointing within the U.S. LTL business unit.

6:16AM Vitran expands its revolving credit facility to $111.5 mln (VTNC) 13.25 : Co announced that it has completed an increase to its bank syndicated revolving credit facility from $100 mln to $111.5 mln, led by JP Morgan Chase Bank. Although the co finished the second quarter with ~$8.6 mln of available capital within the original revolving credit facility, the additional $11.5 mln as well as an expanded leverage ratio covenant will help the Company execute its operational and capital plan for the next year.

6:02AM On The Wires (WIRES) :

* Microsoft (MSFT) and Yell Group announced plans to form a broad, global strategic alliance, taking advantage of their complementary strengths and expertise in the delivery of innovative online advertising and business solutions to assist small and medium sized businesses reach and engage consumers.
* Menlo Worldwide Logistics, the global logistics subsidiary of Con-way (CNW) announced it is expanding its presence in Singapore and breaking ground on a new, 400,000-square-foot warehousing and retail distribution management centre on Sunview Way.
* Fundtech (FNDT) announced that Ecobank has launched Fundtech's Global CASHplus cash management system across its network of affiliates covering 30 countries throughout Africa
* Charm Communications (CHRM) announced today it has won Zhongpin's (HOGS) brand and communications account.
* Nova Measuring Instruments (NVMI) introduced its fifth generation of the award-winning NovaMARS Optical CD application development solution.
* Leading Chilean operator Entel is meeting the challenge of rapidly-growing data traffic by launching the fastest mobile broadband network in Latin America. The network is based on Ericsson's (ERIC) latest HSPA Evolution technology, which enables peak data rates of 42Mbps.
* MicroStrategy (MSTR) announced the general availability of MicroStrategy Cloud, a cloud-based platform-as-a-service.

6:00AM Acacia Research subsidiary enters into settlement agreement with Boston Scientific (BSX) (ACTG) 37.21 : Co announced today that its EVM Systems subsidiary has entered into a settlement agreement with Boston Scientific (BSX) regarding patents for shape memory metal medical instruments. The settlement agreement resolves litigation that was pending in the Eastern District of Texas.

5:55AM GlobalStar announces additional satellite launch delay (GSAT) 1.15 -0.02 : Co announced an additional delay of the launch of six Globalstar satellites. The launch of the second-generation satellites was originally targeted for July 11, 2011 at 8:59 a.m. Baikonur local time and was rescheduled for July 12, 2011 at 8:43 a.m. Baikonur local time, following the countdown's interruption prior to liftoff of the Soyuz launch vehicle. A new launch schedule has not been established.

5:26AM On The Wires (WIRES) :

* Gilead Sciences (GILD) announced an expansion of its global access program in an effort to provide accelerated access to Gilead medicines for the treatment of HIV/AIDS. The changes announced include new licensing terms with four India-based drug manufacturers: Hetero Drugs, Matrix Laboratories, Ranbaxy Laboratories and Strides Arcolab, for three drugs which are currently in late-stage clinical development.
* Suntech Power (STP) has launched two new high-performance solar panels immediately available for purchase in the United States, Canada and Latin America. Both products deliver higher power outputs and provide a superior levelized cost of solar electricity for Suntech customers.
* Ampal-American Israel (AMPL) announced today that it has been advised by East Mediterranean Gas, in which Ampal has a 12.5% interest, that shortly after 2:00 last night there was an explosion in a valve station along the Egyptian gas pipeline due to an alleged terror attack.
* CTC Media (CTCM) announced its Channel 31 in Kazakhstan and Paramount Pictures have signed an exclusive two-year agreement that provides Channel 31 with the rights to broadcast a wide range of cinema-related productions by Paramount Pictures.

2:27AM On The Wires (WIRES) :

* Airgas (ARG) announced it is partnering with MacEwen Petroleum, Maxville, Ontario, to distribute Airgas AiRx Diesel Exhaust Fluid in Canada.
* CoStar Group (CSGP) and LoopNet (LOOP) announced that the stockholders of LoopNet have approved the adoption of the merger agreement with CoStar previously announced on and dated April 27, 2011.
* MI Developments (MIM) announced that it has sold its head office property at 455 Magna Drive, Aurora, Ontario and ~5 acres of adjacent land to a subsidiary of The Stronach Group for CAD12.7 mln.
* Orbitz Worldwide (OWW) announced a new partnership with Virgin Australia to power standalone hotel bookings on its Australian websites.
* Praxair Investment (PX) has signed a combustion equipment contract with Shandong Guangfu Group to implement the Praxair proprietary oxy-fuel technology for this new customer, one of the leading steel and iron enterprises in Shandong province, North China.
* Cadence Design Systems (CDNS) announced that technology leader Samsung Electronics deployed the Cadence unified digital flow, from RTL to GDSII, to tape out a test chip at 20 nanometers.
* Synopsys (SNPS) announced that its design enablement collaboration with Samsung Electronics has achieved a critical milestone with the successful tapeout of the first 20-nanometer test chip based on Samsung's High-k metal gate process technology.
* AMD (AMD) launched the AMD Radeon HD 6990M GPU, the world's fastest single mobile graphics processor, an uncompromising GPU that delivers massive computing power to mobile users.
* Clearwire (CLWR), Time Warner Cable (TWC) and Sprint (S) announced a significant expansion of the Clearwire 4G network footprint and key capacity upgrades for mobile broadband customers in the greater New York City metro area.
* ASML Holding NV (ASML) announced three new extensions for its popular TWINSCAN NXT platform that improve imaging, overlay and productivity. The extensions enable chipmakers to manufacture smaller, faster chips more cost-effectively.
* Toshiba and SanDisk (SNDK) opened the Fab 5, the third 300mm wafer NAND fabrication facility at Toshiba's Yokkaichi Operations in Mie Prefecture, Japan.
* According to information received by Nokia (NOK), the holdings of Dodge & Cox in Nokia exceeded 5% of the share capital of Nokia.

2:25AM Correction: Targa Resources (TRGP) and Targa Resources Partners (NGLS) raised dividends (TRGP) 33.48 : Targa Resources (TRGP) announce that its board of directors has declared a quarterly cash dividend of $0.29 per share, or $1.16 per common share on an annualized basis, for the second quarter 2011. The approved dividend represents increases of ~6% over the previous quarter's dividend and 13% over the prorated dividend for the fourth quarter 2010. This cash dividend will be paid August 16, 2011 on all outstanding common shares to holders of record as of the close of business on July 21, 2011. Additionally, Targa Resources Partners (NGLS) announce that the board of directors of its general partner has declared a quarterly cash distribution of $0.57 per common unit, or $2.28 per common unit on an annualized basis, for the second quarter 2011. The approved distribution represents an increase of ~2% over the previous quarter's distribution and 8% over the distribution for the second quarter 2010.
We previously indicated NGLS raised Q2 divided 6% to $0.29 and TRGP raises divided 2% to $0.57. The prior comment has been deleted.

1:53AM CGGVeritas provides its Q2 vessel utilization update (CGV) 33.27 : Co provides vessel utilization and its fleet allocation updates for the second quarter of 2011. Vessel utilization for the second quarter 2011: The vessel availability rate was 92%. This vs 81% availability rate in the 1Q11 and a 92% rate in 2Q10. The vessel production rate was 85%. vs 80% production rate in 1Q11 and a 92% rate in 2Q10. The production rate improved sequentially but remained impacted by maritime interruptions and operational incidents.

1:41AM Whitestone REIT provides first 6 month leasing highlights; physical occupancy of its Operating Portfolio was 84% as of June 30, 2011 (WSR) 13.08 : Co announces leasing highlights for the first six months, ended June 30, 2011. The physical occupancy of its Operating Portfolio was 84% as of June 30, 2011. This occupancy level is unchanged from the end of the first quarter at March 31, 2011. The co signed 157 leases totaling 186,297 square feet in new and renewal leases during the first half of 2011, primarily with tenants that required less than 3,000 square feet in multi-cultural neighborhoods.

1:39AM 3SBIO receives SFDA approval of High-Dose EPIAO (SSRX) 17.86 : Co announces that the Chinese State Food and Drug Administration has approved its 36,000 IU dosage formulation of EPIAO for the treatment of anemia associated with chemotherapy in cancer patients. High-dose EPIAO is the only dosage form of this kind available in China. The clinical trial examined the safety and efficacy of a weekly subcutaneous injection of 36,000 IU EPIAO in oncology patients compared with a regimen of three times per week administration of 10,000 IU EPIAO. The results showed that 70% of the patients receiving high-dose EPIAO injections had hemoglobin improvement of 1-2 g/dL from baseline, similar to those receiving three times per week dosing of 10,000 IU EPIAO. More importantly, the weekly administration of 36,000 IU EPIAO demonstrated equivalent safety and tolerability profiles as the three times per week 10,000 IU EPIAO.

1:36AM Spectrum Brands reconfirms FY11 adjusted EBITDA and free cash flow guidance (SPB) 31.02 : Co reiterates its FY11 expectations to deliver an increase in adjusted EBITDA to between $455-465 mln (no est) with free cash flow improving to between $155-165 mln (no est). The co said it remained on track to deliver a cumulative debt reduction on its original $750 mln Senior Secured Term Loan of at least $200 mln by the end of fiscal 2011, with $90 mln of voluntary prepayments already made to date for a current Term Loan balance of $658 mln. The co said it now expects fiscal 2011 net sales growth in the range of 1.5-2.5%. The revised net sales forecast is primarily due to challenges in the retail marketplace.

1:32AM A.O. Smith increases quarterly dividend 14% to $0.16 from $0.14; dividend is payable on Aug. 15 to shareholders of record July 29 (AOS) 41.88 :

1:29AM LiveDeal receives term sheet for proposed $1.5 mln equity investment; investor would purchase 600K newly issued shares at $2.50 per share (LIVE) 3.13 : Co announces its receipt of an executed term sheet from a prospective investor based in Japan, setting forth certain terms and conditions of a proposed $1,500,000 investment in co. The term sheet provides that Investor and certain co-investors would purchase an aggregate of 600,000 newly issued shares of co's common stock at a purchase price of $2.50 per share.

1:20AM MedQuist Holdings appoints Roger Davenport as Chairman and Chief Executive Officer effective immediately (MEDH) 13.20 : Co announces the Board has appointed Roger Davenport as Chairman and CEO. He most recently served as special senior strategic advisor to the Chairman of Quintiles. He assumes the positions held by Bob Aquilina, Chairman, who will remain on the Board and Peter Masanotti, CEO, who will serve as a consultant

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