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Market Update: 110722

4:20 pm : Another big batch of better-than-expected earnings reports couldn't keep stocks from spending Friday stuck in mixed trade. The major averages still scored solid weekly gains, though.

General Electric (GE 19.04, -0.12), Microsoft (MSFT 27.52, +0.43), Verizon (VZ 36.74, -0.83), and McDonald's (MCD 88.56, +2.02) all reported better-than-expected earnings results for the latest quarter, but MCD shares were the only ones that put together any kind of a meaningful gain. Favor for the fast service food giant took its shares to a new record high.

Fellow Dow component Caterpillar (CAT 105.15, -6.45) was the only blue chip that came short of the consensus earnings estimate. The construction equipment company compounded its offense with a weak forecast. That caused the stock to slide to a July low. Such weakness weighed on the broader industrials sector, which fell to a 1.0% loss.

Tech stocks were at the other end of the spectrum. They scored a 1.2% gain on the back of big gains by Advanced Micro (AMD 7.75, +1.25), Western Digital (WDC 38.04, +2.91), and SanDisk (SNDK 45.57, +4.00), all of which surged in the wake of their latest quarterly reports.

Strength among tech stocks also helped the Nasdaq outperform its counterparts after it had lagged them in the prior session. The Nasdaq's outsized gain this session also helped it edge out the S&P 500 and Dow for the week. Specifically, the Nasdaq scored a 2.5% weekly gain, which is greater than the 2.2% weekly gain achieved by the S&P 500 and the 1.6% weekly advance staged by the Dow.

Given the pace of progress in establishing plans to restore the fiscal health of country's in the eurozone's periphery, little attention was paid to news that officials put together a new bailout package for Greece and also promised to provide financial support, as necessary, to other countries in the region. The news did drive a heady 7.5% gain for Greece's stock market, however. Portugal's market average advanced 1.5% and Ireland's advanced 1.4%.

The news failed to help the euro after it had already advanced against the greenback for three straight sessions. Although the euro fell 0.3% to $1.437 on Friday, it finished the week with a 1.5% gain.

Advancing Sectors: Tech +1.2%, Consumer Discretionary +0.4%, Energy +0.5%
Declining Sectors: Health Care -0.1%, Consumer Staples -0.2%, Financials -0.3%, Materials -0.4%, Telecom -0.5%, Utilities -0.6%, Industrials -1.0%DJ30 -43.25 NASDAQ +24.40 NQ100 1.1% R2K 0.1% SP400 0.2% SP500 +1.22 NASDAQ Adv/Vol/Dec 1267/1.67 bln/1305 NYSE Adv/Vol/Dec 1440/737 mln/1549

3:30 pm : Precious metals moved higher on the flight to safety, once again, aided by lingering questions about how the situation in Europe will play out, as well as concerns about how the debt negotiations are going in the US. Gold traded to highs, at $1607.70, early in the session, but spent the remainder of the day pulling back slowly from those highs. Silver had a similar pattern of trade, notching highs at $40.30 in mid-morning trade before pulling back throughout the remainder of the day. August gold finished higher by 0.9% to $1601.30 per ounce, while Sept silver gained 2.9% to finish at $40.08 per ounce.

Sept crude oil settled higher by 0.8% to $9.87. Crude oil futures spent the session rallying off their lows, at $98.43, and eventually traded back above the $100 level where they put in highs at $100.19 per barrel. On the week, crude rallied for 2.7%, and posted gains for the fourth week in a row. Aug natural gas finished near flat at $4.39 per MMBtu.DJ30 -52.22 NASDAQ +25.66 SP500 +0.94 NASDAQ Adv/Vol/Dec 1322/1.3 bln/1248 NYSE Adv/Vol/Dec 1428/517.7 mln/1563

3:00 pm : The final hour of the week has arrived. As things currently stand, the Dow's loss has left it on track for a 1.6% weekly gain. Meanwhile, the S&P 500 is on pace for a 2.2% weekly gain. Better still is the 2.5% weekly gain that the Nasdaq is on track to log.

Outside of equities, the dollar has had a rather quiet session, although it has steadily sported a modest gain of about 0.3% since the open. It is currently down 1.2% for the week, however.

Commodities have had a decent week. The CRB Commodity Index capped it off with a 0.8% gain today. That has it up 0.5% for the week. DJ30 -37.58 NASDAQ +28.23 SP500 +2.24 NASDAQ Adv/Vol/Dec 1321/1.22 bln/1243 NYSE Adv/Vol/Dec 1475/458 mln/1516

2:30 pm : The S&P 500 continues to drift along with an incremental gain, but the Nasdaq has stretched to a new session high so that it now sports a gain of almost 1%. The Nasdaq's move comes as tech stocks push to a collective gain of 1.3%, which is more than double the gain of the next best performing sector (consumer discretionary, +0.5%).DJ30 -43.90 NASDAQ +26.65 SP500 +1.06 NASDAQ Adv/Vol/Dec 1.16 bln/1.13 bln/1241 NYSE Adv/Vol/Dec 1411/427 mln/1568

2:00 pm : Unabe to work its way into higher ground, the Dow continues to slog along with a slight loss. Its weakness is largely owed to a precipitous drop by shares of Caterpillar (CAT 105.60, -6.00), which have been punished for the company's failure to hit the consensus earnings estimate, as well as its underwhelming forecast. Fellow blue chip Verizon (VZ 36.52, -1.05) has also been slapped with selling pressure, despite an upside earnings surprise for the most recent quarter.DJ30 -31.41 NASDAQ +24.19 SP500 +1.57 NASDAQ Adv/Vol/Dec 1281/1.02 bln/1236 NYSE Adv/Vol/Dec 1434/388 mln/1523

1:30 pm : The S&P 500 remains mired near the neutral line, even though the tech sector, which is the largest by market weight, has pushed its way up to a 1.0% gain. Meanwhile, the Nasdaq is sitting at its session high, sporting an enviable gain.DJ30 -29.55 NASDAQ +21.48 SP500 +1.42 NASDAQ Adv/Vol/Dec 1284/955 mln/1227 NYSE Adv/Vol/Dec 1421/365 mln/1521

1:00 pm : Strength among tech stocks has helped the Nasdaq put together a solid gain, but the broader market remains mired near the neutral line.

Market participants have been generally uninspired by news that eurozone officials have put together a new bailout package for Greece and have also promised to provide financial support, as necessary, to other countries in the eurozone periphery. Although the news did drive higher the market averages of Greece, Spain, Portutal, and Ireland, the euro has been under moderate pressure all session.

As has been the case in recent quarters, broad market participants haven't shown much of a concerted response to earnings reports, even though the bulk of them have been better than expected. In turn, the S&P 500 has chopped along for most of the session, until it recently made its way to the neutral line.

Blue chips Microsoft (MSFT 27.21, +0.12), General Electric (GE 19.08, -0.08), McDonald's (MCD 89.31, +2.77), and Verizon (VZ 36.53, -1.04) all posted earnings results that exceeded what had been widely expected. Caterpillar (CAT 105.45, -6.15) was the only Dow component that came short of the consensus estimate. The construction equipment company compounded its offense with a weak forecast.

Tech issues Advanced Micro (AMD 7.68, +1.18), Western Digital (WDC 38.01, +2.88), and SanDisk (SNDK 45.73, +4.16) have all surged in response to their latest quarterly announcements. That has helped the tech sector ascend to a 0.9% gain. It has also helped the tech-rich Nasdaq put together an enviable gain after it had lagged its counterparts in the prior session. DJ30 -20.55 NASDAQ +22.67 SP500 +2.30 NASDAQ Adv/Vol/Dec 1263/865 mln/1231 NYSE Adv/Vol/Dec 1443/335 mln/1496

12:30 pm : The S&P 500 recently stalled near its opening high, but the Nasdaq has managed to extend its upturn to a new session high. Tech stocks, now collectively up 0.8%, continue to underpin the Nasdaq's ascent.

Financials have also been working to unwind their losses. The sector slumped quickly in early trade, but has since worked its way up toward the neutral line so that its loss is now only 0.1%. DJ30 -34.06 NASDAQ +16.11 SP500 +0.70 NASDAQ Adv/Vol/Dec 1206/775 mln/1269 NYSE Adv/Vol/Dec 1415/305 mln/1520

12:00 pm : The S&P 500 has worked its way back to the neutral line while the Nasdaq has managed to set an incrementally improved session high. The moves come as the tech sector pushes up to a 0.6% gain, which makes it the best performing sector this session.

Among tech plays in focus, shares of Advanced Micro (AMD 7.68, +1.18) have surged to a one-month high following the company's latest quarterly report. In a similar vein, Western Digital (WDC 38.01, +2.88) has staged a sharp rebound from its prior session slump with help from its latest quarterly report, which included an encouraging earnings forecast. SanDisk (SNDK 45.58, +4.01) is in even better shape, although the company actually issued underwhelming guidance during its conference call. DJ30 -42.53 NASDAQ +10.98 SP500 -0.32 NASDAQ Adv/Vol/Dec 1119/690 mln/1339 NYSE Adv/Vol/Dec 1272/275 mln/1638

11:30 am : Even though the company posted an upside earnings surprise for the latest quarter, shares of Verizon (VZ 36.50, -1.07) have fallen sharply to trade near their weekly lows. AT&T (T 30.01, -0.27) has been imbued by weakness in shares of VZ, but its loss is moderate when compared with that of VZ. Still, overall weakness among telecom stocks has the telecom sector down 1.3%, which makes it the worst performing sector of the session.

Consumer discretionary stocks are at the opposite end of the spectrum. Although they are collectively up just 0.2%, they represent the best performing sector of the day. McDonald's (MCD 89.01, +2.47) is a primary leader among discretionary plays, following a better-than-expected earnings report from the fast service food giant. With its advance this session, the stock now trades at a new record high. DJ30 -45.33 NASDAQ +5.88 SP500 -2.38 NASDAQ Adv/Vol/Dec 993/575 mln/1437 NYSE Adv/Vol/Dec 1158/231 mln/1713

11:00 am : Oil prices have pushed into positive territory to trade with a 0.2% gan at $99.30 per barrel. That has helped take the energy sector back into higher ground so that it now sports a 0.2% gain of its own.

Schlumberger (SLB 93.50, +2.54) has been a key source of support for the broader energy sector. The stock's climb to a new multi-month high comes in response to the company's latest quarterly report, which featured an upside earnings surprise on stronger-than-expected revenue. DJ30 -51.80 NASDAQ +5.66 SP500 -2.38 NASDAQ Adv/Vol/Dec 969/438 mln/1412 NYSE Adv/Vol/Dec 1110/180 mln/1726

10:30 am : Stocks have turned lower in recent trade, but many commodities continue to trade with strength.

Gold has moderately extended its morning climb so that prices now stand at $1605.50 for a 1.2% gain. Silver has also extended its upward push; it was last quoted with a 3.1% gain at $40.17 per ounce.

In the energy complex, natural gas prices are up 1.1% to $4.41 per MMbtu, which is right about where they were in early pit trade. Oil has had to wrestle with moderate selling pressure, though. The energy component is currently down 0.2% at $98.95 per barrer. Oil prices had been at about $98.45 per barrel in the opening minutes of pit trade, however. DJ30 -69.25 NASDAQ -1.35 SP500 -5.37 NASDAQ Adv/Dec 793/1506 NYSE Adv/Dec 859/1939

10:00 am : Financials have stopped their morning slide. The sector is now down 0.6%. However, industrials have continued to slide from their opening levels. The sector's downturn has left it with a 1.1% loss.

The industrial sector's slide has been led by Caterpillar (CAT 104.47, -7.13), which has slumped in the wake of its latest quarterly report. Not only did the company come short of the consensus earnings estimate, but it also issued a disappointing forecast. DJ30 -38.98 NASDAQ +2.81 SP500 -2.74 NASDAQ Adv/Dec 901/1321 NYSE Adv/Dec 1012/1668

09:45 am : The major equity averages are mixed this morning. In contrast to last session, the Nasdaq is actually showing some relative strength while its counterparts slip.

SanDisk (SNDK 44.67, +3.10) is currently a source of strength for the tech-rich Nasdaq, following the company's latest quarterly report. Microsoft (MSFT 27.26, +0.17) is providing a bit of a lift, too.

Financials have fallen out of favor after staging strong back-to-back gains -- 1.1% on Wednesday then 2.5% yesterday. The sector's slide to a 0.6% loss comes as bank stocks suffer an early loss of 0.9%, as measured by the KBW Bank Index. DJ30 -29.48 NASDAQ +7.31 SP500 -1.64 NASDAQ Adv/Dec 1035/1139 NYSE Adv/Dec 1046/1627

09:15 am : S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: -0.30. Stock futures have slipped from their morning highs so that the cash market now appears to be on pace for a flat start. Any selling momentum into the open could eat into the stock market's week-to-date gain of 2%, which actually follows a 2% weekly loss. Waning support this morning comes as participants shrug off news that eurozone officials have put together a new bailout package for Greece and have also promised to provide financial support, as necessary, to other countries in the eurozone periphery. Early traders have also been uninspired by the latest round of earnings results, which have been strong overall. Although the reports continue to drive stock-specific action, they haven't really had much of a role in determining the broad market's direction. Such a theme remains consistent with that of recent quarters.

09:05 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -2.50. Precious metals have been bid sharply higher this morning. Specifically, gold prices are up 1.0% to $1603 per ounce while silver prices have spiked 2.4% to $39.90 per ounce. Natural gas prices are also up nicely; contracts currently price the energy component with a 1.2% gain at $4.42 per MMbtu. Crude oil is under pressure, though. Just a few minutes into pit trade, oil prices are down 0.7% to $98.45 per barrel. In the backdrop, the dollar has put together a nice gain of 0.3% against a basket of competing currencies.

08:35 am : S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +0.20. Stock futures for the domestic averages have drifted lower in recent action. Meanwhile, the EuroStoxx 50 is up 0.4%, but market averages for Greece (+6.0%), Portugal (+1.7%), Ireland (+1.8%), and Spain (+1.2%) are all sporting much more impressive results. Strength among the markets of peripheral eurozone countries comes in response to news that in addition to a new bailout package for Greece, financial support will remain available for the region's other countries. As for the eurozone's more widely followed bourses, Germany's DAX is up 0.5%. Merck KGAA and Adidas AG have offered the most leadership, offsetting weakness in automakers BMW and Daimler. Germany's IFO Business Confidence reading for July came in at 112.9, which is down from the 114.5 that was posted for the prior month. France's CAC has climbed to a 0.8% gain. Alcatel-Lucent (ALU) is a top performer. Only a handful of names, including Publicis Groupe, L'Oreal, and Carrefour, have failed to find higher ground. France's Business Confidence Indicator for July came in at 105 following a reading of 110 for June. Britain's FTSE is up 0.7%. Royal Bank of Scotland (RBS) is a top performer following a favorable analyst rating. Vodafone (VOD) is also up nicely following its latest quarterly report.

Overnight trade in Asia took Japan's Nikkei to a 1.2% gain. Buying was broad based, but Mitsumi Electric, Japan Steel, Chiyoda Corp, and Mitsubishi UFJ (MTU) were primary leaders. Tokyo Electric Power and Chubu Electric Power performed poorly, though. Hong Kong's Hang Seng spiked 2.1%. Strength there was also broad, but energy giant CNOOC (CEO) failed to participate in the rally following an analyst downgrade. Action was muted once again in mainland China's Shanghai Composite, which mustered a gain of merely 0.2%. Basic materials plays performed relatively well, but financials hampered trade for most of the session.

08:05 am : S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +7.00. Stocks enter Friday with a week-to-date gain of about 2%. Given the size of that gain, stock futures haven't shown much of a response to reports that indicate a new bailout package has been made for Greece and that financial support will remain available for the region's other countries. The news has at least helped Europe's bourses stage gains, the greatest of which are currently sported by Greece (+5.7%), Portugal (+2.0%), Ireland (+1.7%), and Spain (+1.0%). Meanwhile, the euro has eased modestly lower to $1.438 after a three-day advance took it to $1.440 yesterday. On the earnings front, participants are digesting another big batch of reports, which has included announcements from several blue chips. Microsoft (MSFT), General Electric (GE), McDonald's (MCD), and Verizon (VZ) all posted earnings results that exceeded what had been widely expected. However, Caterpillar (CAT) came short of the consensus estimate then compounded the offense with weak earnings guidance.

06:53 am : [BRIEFING.COM] S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +11.00.

06:53 am : Nikkei...10132.11...+121.70...+1.20%. Hang Seng...22444.80...+457.50...+2.10%.

06:53 am : FTSE...5961.87...+62.00...+1.10%. DAX...7332.28...+42.10...+0.60%.

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

5:59PM KeyCorp increases regular dividend to $0.03 (KEY) 8.41 +0.01 :

5:46PM Bank Mutual beats by $0.06 (BKMU) 3.83 -0.04 : Reports Q2 (June) earnings of $0.03 per share, excluding items, $0.06 better than the Capital IQ Consensus Estimate of ($0.03).

5:16PM Watson confirms JALYN patent challenge; WPI subsidiary filed an Abbreviated New Drug Application with the FDA (WPI) 70.48 +0.73 : Watson Pharmaceuticals (WPI) confirmed that its subsidiary, Watson Laboratories, Inc. - Florida, filed an Abbreviated New Drug Application (ANDA) with the U.S. Food and Drug Administration (FDA) seeking approval to market dutasteride and tamsulosin hydrochloride capsules. Watson's dutasteride and tamsulosin hydrochloride capsules are a generic version of GlaxoSmithKline's JALYN. JALYN capsules are indicated for the treatment of symptomatic benign prostatic hyperplasia (BPH) in men with an enlarged prostate.

5:15PM E*TRADE extends gains as high as $16.46 (+5.2%) after hours following news that the Board directed the co to retain Morgan Stanley (MS) to conduct another broad review of strategic alternatives (see 16:12 comment)- stock is now at $16.32 (ETFC) 15.64 +0.20 :

5:07PM The J. M. Smucker Co raises its quarterly dividend 9% to $0.48 from $0.44 (SJM) 80.00 +0.33 :

5:01PM First Savings Financial Group receives preliminary approval for SBLF participation (FSFG) 16.25 +0.30 : First Savings Financial Group (FSFG), the holding company for First Savings Bank, F.S.B., announced today that it has received preliminary approval from the U.S. Treasury Department to receive an investment of ~$17,120,000 under the Small Business Lending Fund ("SBLF"). The SBLF is a voluntary program designed to promote small business lending by providing capital to qualified community banks at favorable terms. The investment by Treasury would be in the form of preferred stock of the Co. Closing is expected to occur within ~30 days, subject to Treasury's customary due diligence and closing conditions.

5:01PM Johnson & Johnson: FDA issues complete response letter to Janssen Biotech for SIMPONI supplemental biologic license application (JNJ) 66.72 +0.25 : Janssen Biotech announced that the U.S. Food and Drug Administration (FDA) issued a Complete Response letter for its supplemental Biologics License Application (sBLA) for SIMPONI (golimumab). The application, filed in September 2010, seeks to expand the SIMPONI physician label to include inhibiting the progression of structural damage, inducing major clinical response and maintenance of reduction of signs and symptoms and maintenance of improved physical function in the treatment of moderately to severely active rheumatoid arthritis. Janssen Biotech, Inc. intends to request an end-of-review meeting with the FDA to thoroughly understand the details of the Complete Response letter and discuss future steps to achieve the intended approval.

4:59PM Harsco Metals division to expande services in France under new contracts totaling $10 mln (HSC) 31.73 +0.29 : Co announced it has been awarded two multi-year contracts in France that will expand its logistics and handling services to two leading steel industry customers and generate new revenues estimated at $10 million over their duration. The first contract expands Harsco Metals' 30-year relationship with ArcelorMittal at its Fos-sur-Mer facility to add new services for the handling and packaging of finished products previously performed by a competitor.

4:56PM Seneca Foods and Allens sign memorandum of understanding to merge (SENEA) 25.01 -0.23 : Seneca Foods (SENEA, SENEB) and Allens announce that they have signed a Memorandum of Understanding contemplating a merger of the two companies in a stock for stock transaction. The completion of the transaction is subject to the negotiation and execution of a definitive agreement between the two parties, customary closing conditions, including regulatory, shareholder and lender approvals and satisfactory completion of due diligence. Terms of the deal were not disclosed.

4:49PM Curtiss-Wright announces agreement to sell distribution business (CW) 32.42 -0.43 : Co announced that it has completed an Asset Purchase and Sale Agreement to divest the legacy distribution business of its Valve Systems and Controls operation to McJunkin Red Man Corporation, a global distributor of pipe, valves, fittings and related products to the energy and industrial markets. The transaction is expected to close by the end of July.

4:30PM CDC Software receives letter from NASDAQ relating to its late Form 20-F (CDCS) 4.37 +0.17 : Co announced that it received a non-compliance notice from the NASDAQ Stock Market stating that the company was not in compliance with NASDAQ Listing Rule 5250(c)(1) because the company has not timely filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2010. The notification has no immediate effect on the listing or trading of the company's common stock on the NASDAQ Global Market.

4:30PM E*TRADE rallied almost 4% to as high as $16.25 following the news that E*TRADE Financial responds to Citadel letter (see 16:12)- stock is now at $16.10 (ETFC) 15.64 +0.20 :

4:12PM E*TRADE Financial responds to Citadel letter; Board directed co to retain Morgan Stanley & Co. LLC ("Morgan Stanley") to conduct another broad review of strategic alternatives (ETFC) 15.64 +0.20 : The Board of Directors of E*TRADE Financial (ETFC) on July 20, 2011 received a letter from Citadel LLC ("Citadel") requesting a special shareholder meeting to vote on a number of proposals including: the appointment of a special committee to hire an investment banker that has not previously advised the Co or the Board to review E*TRADE's strategic alternatives, including a possible sale of the co; the declassification of E*TRADE's Board of Directors so that all members are elected annually; and the removal of two independent Directors. E*TRADE believes that it has already addressed the substance of Citadel's proposals and that it is not in the best interests of shareholders to call a special meeting at this time. E*TRADE noted that the co retained J.P. Morgan Securities LLC to assist in a thorough review of strategic alternatives, which was completed in the fourth quarter of 2010. At the conclusion of this process, the Board determined that the continued execution of the company's business plan was the best alternative for increasing shareholder value and that a sale of the co, at that time, would not maximize shareholder value.

However, in response to Citadel's request, E*TRADE has formed a special committee of the Board, comprised entirely of independent directors, which has directed the co to retain Morgan Stanley & Co. LLC ("Morgan Stanley") to conduct another broad review of strategic alternatives. Morgan Stanley will report to the Board's Finance and Risk Oversight Committee, which is comprised of Steven J. Freiberg, Kenneth C. Griffin (founder and CEO of Citadel, who has served on the Board since June 2009), Michael K. Parks, Joseph L. Sclafani and Stephen H. Willard. The Finance and Risk Oversight Committee will then make a recommendation to the full Board.

4:05PM Legacy Reserves increases quarterly cash distribution rate to $0.54 from $0.53 QoQ (LGCY) 30.49 +0.35 :

4:02PM XL Capital announces remarketing plans for $575 mln in 8.25% senior notes due 2021 (XL) 21.58 +0.15 : Co's wholly-owned subsidiary, XL Company Switzerland GmbH currently anticipates that it will participate in the remarketing and submit an order to purchase some or all of the 8.25% Notes available to be remarketed, and will retire all such 8.25% Notes it may purchase in the remarketing.

3:43PM PG&E recommends that shareholders reject "mini-tender offer" by TRC Capital (PCG) 42.66 -0.63 : Co is recommending that shareholders reject an unsolicited "mini-tender offer" by TRC Capital Corporation to purchase less than 0.628 percent of the outstanding PG&E Corporation common stock at a below-market price of $40.25 per share.

3:31PM Earnings Calendar for the week of July 25th-29th (SUMRX) : Of the hundreds of companies reporting earnings the week of July 25th-29th, some of the bigger names include:

* Monday: BEAV, KMB, PCH, SLAB, APC, BIDU, BRCM, NFLX, NUVA, STM, TXN, and VECO.
* Tuesday: MMM, AKS, AMLN, BIIB, BP, CRDN, CMI, F, NEOG, ODP, PCX, X, UA, UPS, VLO, AMAG, AMZN, FISV, FORM, GNK, RFMD, TPX, and WBSN.
* Wednesday: BA, COP, GLW, DAL, DOW, DPS, GD, SAP, TEVA, TUP, WLP, ZMH, CTXS, GG, RYL, SFLY, SKX, SYMC, TER, THQI, UHS, V, and WFM.
* Thursday: DDD, ACAT, AZN, ABX, BSX, CME, CCE, CL, CNX, DD, XOM, GT, K, IRM, LLL, LAZ, MHP, POT, RCL, S, STRA, WM, ACOM, CELL, CSTR, NTGR, MET, SIMO, VRSN, VSI, and WMGI.
* Friday: AEP, ACI, CPN, CVX, EGO, MRK, and NEM.

3:13PM MGM Resorts enters into an amendment to its Borgata settlement agreement in New Jersey (MGM) 15.94 +0.36 : The amendment provides that the mandated sale of the trust property be increased by 18 months to 48 months. During the first 36 months, co has the right to direct the trustee to sell the trust property. If a sale is not concluded by that time, the trustee will be responsible for selling co's interest in the Borgata during the following 12-month period.

3:07PM Grupo Aeroportuario del Pacifico confirms it has initiated protection proceeding in federal court in order to defend its by-laws (PAC) 40.81 +0.23 :

2:52PM PPL Corp: William Spence named President of PPL Corporation; he also will continue to serve as the co's COO (PPL) 28.02 -0.01 : James Miller co's president since 2005, will continue to serve as chairman and CEO of the co, posts he has held since 2006.

2:37PM NYMEX Energy Closing Prices (COMDX) : Sept crude oil settled higher by 74 cents to $99.87, Aug natural gas finished flat at $4.39, Aug RBOB gasoline ended higher by 3 cents to $3.13, while Aug heating oil gained 3.05 cents to finish at $3.14.

2:21PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; wheat climbs 2.3%, while corn gains 1.8% (COMDX) : Continuous corn futures closed 12 cents higher at $6.85/bushel, wheat rose 16 cents to close at $6.93, cont. soybeans closed flat at $13.89, cont. ethanol closed up 6 cents to $2.81, while cont. world sugar futures closed rose 0.4% at 0.31 cents.

1:41PM COMEX Metals Closing Prices (COMDX) : Aug gold finished higher by $14.40 to $1601.50, Sept silver rallied for $1.13 to close at $40.08, while Sept copper closed up 2.1 cents to $4.045.

1:25PM China Education Alliance acknowledges unusual market activity in its stock; stated that its policy was not to comment on unusual market activity or rumors (CEU) 1.16 +0.25 :

12:41PM Republic Airways' Frontier Airlines expects to return to normal operations by July 23 (RJET) 4.39 -0.04 : Frontier saw 18 of its Airbus aircraft damaged last week from storm.

12:01PM Wowjoint Holdings signs $400K contract with Shenzhen Land Investment & Development Center (BWOW) 1.29 -0.01 :

11:42AM Starbucks will expand presence into Finland; to open store at Helsinki Airport early 2012 (SBUX) 40.48 +0.08 : Last month Starbucks and SSP announced plans to open a store in Gardermoen Airport in Oslo, Norway also in early 2012. With today's announcement, Starbucks will have a full presence across the Nordic markets. SSP will operate two Starbucks stores at Helsinki Airport. One will be located in the arrivals hall where it will be accessible to passengers and visitors from the city. The other will be located past security for passengers boarding flights.

11:10AM Aegerion Pharma appoints Mark Sumeray as Chief Medical Officer (AEGR) 15.49 -0.21 : Sumeray was most recently Vice President Cardiovascular/Metabolics U.S. Medical, at Bristol-Myers Squibb (BMY).

11:01AM CIGNA announced that CIGNA Home Delivery Pharmacy has been reaccredited with the VIPPS accreditation by the National Association of Boards of Pharmacy (CI) 52.44 -0.10 :

10:51AM Fidelity Southern Corporation reinstates cash dividend of $0.01/share (LION) 7.02 -0.03 :

10:43AM Dr. Reddy's to acquire pharmaceutical prescription portfolio from JB Chemicals & Pharmaceuticals for $34.85 mln (RDY) 35.11 +0.45 : Co announced the acqusition of prescription portfolio in the Russia and other CIS regions. The agreement involves acquisition of 20 brands, key ones being Metrogyl and Jocet. Dr. Reddy's has also entered into a supply agreement with JB Chemicals for the continued manufacturing and supply of these products associated with the acquired brands.

10:36AM Calumet Specialty Products increases quarterly cash distribution to $0.495 per unit, prior $0.475 per unit (CLMT) 22.98 -0.16 :

10:24AM Neurogesx announces $20 mln private placement (NGSX) 1.59 -0.06 : Co announced it entered into a securities purchase agreement in connection with a private placement to a group of institutional accredited investors and, subject to standard closing conditions, is expected to receive ~$20 mln in gross proceeds from the sale of ~11.75 mln shares of its common stock.

10:18AM Gold, silver tick to fresh highs (COMDX) :

9:49AM Opening Point Gainers/Losers (TECHX) : Point Gainers: ATHN (+9.91), CPHD (+5.37), TZOO (+3.10), SINA (+3.38), APKT (+2.98), SNDK (+3.15), SWKS (+3.06), BIDU (+2.85), MCD (+2.66), APKT (+2.99), MOS (+2.31), INFA (+2.30)

Point Losers: BCR (-9.89), CAT (-7.77), ISRG (-7.25), SFG (-4.65), CSTR (-4.14), AVID (-3.88), BAS (-3.63), GENE (-3.60), EW (-3.06), NFLX (-2.90), EZPW (-2.71), CMI (-2.42)

9:44AM Apollo Residential Mortg IPO opened at $19.00 (AMTG) 18.90 -1.10 :

9:42AM WPP Group's company Ogilvy & Mather launched a specialty video practice, a unit that has been in development for 2 years (WPPGY) 59.72 +0.58 :

9:40AM Veolia Environnement unit selected by Devon Energy (DVN) to provide induced gas flotation unit for Bitumen secondary oil recovery (VE) 26.11 +0.07 : The system will be delivered in September, 2011.

9:25AM Air Transport Services Group statement concerning DB Schenker announcement (ATSG) 5.89 : Co has been advised by their second-largest customer, DB Schenker, concerning its plans to adopt a new operating model that phases out the dedicated air-cargo network supported by airline subsidiaries. Co expects a reduction in role as a provider of main-deck freighter lift for DB Schenker in North America. Co is analyzing the continuing and one-time effects this phase-out will have on the fleet and financial results, and will provide more information to shareholders as soon as practicable. Co estimates that on an annualized basis, each of the eight DC-8 and eight 727 aircraft dedicated to the DB Schenker network generates ~$0.01/share in earnings after tax. Cocannot yet determine, however, when or how many of those aircraft will be removed from DB Schenker service, nor how readily it can deploy them with other customers or otherwise realize their value. If all of the DC-8 and 727 aircraft currently dedicated to DB Schenker are eventually removed from service, co projects an annual reduction in required capital maintenance expenditures of $10 to $15 mln.

9:06AM Stanley Black & Decker publishes acquisition offer document of a 24% premium to the shareholders and warrant holders in Niscayah; proposed acquisition with the European Commission (SWK) 69.00 : Co announced that the offer document regarding its recommended all-cash offer to acquire all class A and class B shares and warrants in Niscayah Group AB, through a tender offer by indirect wholly-owned subsidiary SBD Holding AB is available at co's website. The offer document and the acceptance form will be distributed to shareholders and warrant holders in Niscayah whose shares and/or warrants were directly registered with Euroclear Sweden AB as of July 21, 2011. Co also announced today that it has filed notification of the proposed acquisition with the European Commission under the simplified merger notification procedure. Following the formal review period of 25 business days, clearance of the acquisition under the EU merger regulation is expected by August 29, 2011.

9:05AM YRC Worldwide beats by $0.09, beats on revs; CEO Zollars to retire following completion of recovery plan, as previously announced (YRCW) 1.13 : Reports Q2 (Jun) loss of $0.81 per share, $0.09 better than the Capital IQ Consensus Estimate of ($0.90); revenues rose 12.3% year/year to $1.26 bln vs the $1.23 bln consensus. "The restructure closing which includes net cash proceeds from the $100 mln of new notes and the new $400 million ABL will enhance our liquidity position and provide runway for the continued growth in revenues and earnings. With the operating momentum we achieved during the second quarter, which continued to-date into July, we expect to achieve year-over-year revenue growth and adjusted operating income for the remainder of 2011." The restructure closing will mark the conclusion of service for the co's current board of directors and the assignments for chief restructuring officer John Lamar and interim chief financial officer Bill Trubeck. In September of last year, YRC Worldwide announced Zollars' retirement following finalization of the recovery plan. "With the completion of the comprehensive recovery plan and as I announced earlier, I will be stepping down as chairman, president and CEO of YRC Worldwide," said Zollars. "I would like to extend my sincere thanks to all of our employees and other key stakeholders who have worked tirelessly to make the restructuring possible and to our loyal customers who have continued to allow us to serve their transportation and logistics needs throughout the restructuring period."

9:01AM Crude drops to lows following open of pit trade; now off $0.53 to $98.60 (COMDX) :

9:01AM Primoris Services awarded $123.6 mln Texas Highway Contract (PRIM) 13.25 : Co announces that is unit was awarded a $123.6 mln contract from the Texas Department of Transportation to reconstruct and widen a portion of I-35 in Waco, Texas. Work on this project is scheduled to commence in January 2012 and is expected to be completed by July 2015.

9:01AM StemCells (STEMD) reports that new publication validates its SC Proven Reagents for automated production and cell-based screening (STEM) 3.77 : Co announced publication of a collaborative study which used commercially available SC Proven serum-free cell culture media for the reproducible and robust production of large numbers of genetically stable, self-renewing cells that retain true multi-potent biological function over extended culture periods. This work overcomes a key hurdle to the use of non-immortalized cells for regenerative medicine, and demonstrates the utility of human tissue-derived neural stem (NS) cells as a scalable platform for cell-based drug discovery and drug screening applications.

8:48AM SS&C Techs announces pricing of the public secondary offering by selling stockholders (SSNC) 20.25 : Co announced the pricing of the previously announced public secondary offering of 7 mln shares of its common stock by investment funds affiliated with The Carlyle Group at a price to the public of $19.20/share. Upon completion of the offering, investment funds affiliated with The Carlyle Group will own ~36.8% of the common stock of SS&C. The offering is expected to close and settle on July 27, 2011, subject to customary closing conditions. Neither SS&C nor SS&C's management is selling any shares of common stock in the offering and SS&C will not receive any of the proceeds from the offering of shares by the selling stockholders.

8:47AM On The Wires (WIRES) :

* Fidelity National Timber Resources (FNF) announced its plans to open the Tom Weiskopf designed golf course tentatively named The Rock Creek Club of Idaho (formerly known as Black Rock North) in the late spring of 2012.
* CGI Group (GIB) announced the signing of a five-year agreement for the provision of custom application development and maintenance for Encana Corporation, a high-growth, low-cost leader in natural gas production.

8:45AM Tesoro Logistics LP declares its first cash distribution for Q2 of $0.2448 per unit (TLLP) 24.73 -0.48 : This prorated amount corresponds to its minimum quarterly cash distribution of $0.3375 per unit.

8:42AM CDC Corp corporation receives letter from NASDAQ relating to its late form 20-F (CHINA) 2.18 : Co announced today that it received a non-compliance notice from the NASDAQ Stock Market stating that the company was not in compliance because the company has not timely filed its Annual Report on Form 20-F for the fiscal year ended December 31, 2010. The notification has no immediate effect on the listing or trading of the co's common stock on the NASDAQ Global Market. The NASDAQ letter indicated that the company has until September 19, 2011, to submit a plan to regain compliance. If such a plan is timely submitted by the co, the NASDAQ staff can grant the co up until January 11, 2012 to regain compliance.

8:37AM China North East Petroleum announces preliminary Q2 2011 oil production and Tiancheng drilling results (NEP) 3.34 : The co's crude oil production for the 2011 second quarter was 160,600 barrels, a 1.5% decrease sequentially from 162,990 barrels in the 2011 first quarter. The total number of wells in production as of June 30, 2011 was 295 compared to 295 wells in production as of March 31, 2011. Additionally, the co's oil drilling and service subsidiary, Tiancheng, completed drilling contracts for 40 wells with a total drilling depth of 60,817 meters (199,531 feet) in Q2 of 2011 compared to 26 wells drilled with a total drilling depth of 45,327 meters (148,711 feet) in Q1 of 2011.

8:35AM Gold back above $1600 following open of pit trade; now up $14.00 to $1601.00 (COMDX) :

8:33AM Crosshair Exp. & Mining appoints Mr. Mark Ludwig as Chief Operating Officer (CXZ) 0.72 : Mr. Ludwig, PE, MBA, has a Mining Engineering degree from the Colorado School of Mines and an MBA from Regis University. Prior to joining Crosshair, he was the Vice President of Operations of Neutron Energy.

8:33AM Dynegy: Public Service (PEG) subsidiaries file suit against Dynegy (DYN) 5.90 : Roseton and Danskammer have filed suit against Dynegy Holdings to halt proposed transfer of certain of its coal and natural gas power assets to new "bankruptcy remote" subsidiaries. The PSEG entities are owner-lessors of the Danskammer and Roseton electric generating facilities. The lessees are indirect subsidiaries of Dynegy, Inc. and Dynegy Holdings. Dynegy Holdings has guaranteed to the PSEG entities the obligations of the lessees under the leases. As of March 31, 2011, the PSEG Entities had a gross equity investment at risk in the Roseton and Danskammer leases of $270 million. DHI announced on July 11, 2011 that it intended to transfer certain of its coal and natural gas power assets to bankruptcy remote entities, while transferring its Roseton and Danskammer generating stations lessee interests to an ordinary subsidiary under DHI. The plaintiffs contend that the proposed DHI transfer of its assets is a violation of the DHI guaranty and are therefore seeking a temporary restraining order and permanent injunction preventing DHI from consummating these proposed transfers.

8:32AM Myrexis announced that Adrian Hobden has resigned as President, CEO effective July 21 (MYRX) 3.48 : The Board of Directors has appointed Robert Lollini, the Company's CFO, as interim President and CEO. Lollini will also continue has duties as CFO.

8:31AM Swisher Hygiene has acquired GLC Linen (SWSH) 4.98 : Co announces that it has acquired GLC Linen. Total consideration paid by Swisher Hygiene in connection with the acquisition includes $355,000 in cash, the assumption of certain liabilities and the issuance of a convertible promissory note which may be converted into a maximum of 201,925 shares of common stock of Swisher Hygiene

8:31AM USG misses by $0.12, misses on revs (USG) 14.21 : Reports Q2 (Jun) loss of $0.69 per share, $0.12 worse than the Capital IQ Consensus Estimate of ($0.57); revenues fell 1.0% year/year to $761 mln vs the $775.2 mln consensus. "We are continuing to pursue our near-term and long-term strategic priorities during the protracted recession in our domestic markets. By strengthening our core businesses, diversifying the sources of our earnings and aggressively leveraging our innovation leadership to differentiate USG's products from the competition, we are confident that we can successfully navigate this recession and capitalize on a recovery."

8:31AM Carrol's Restaurant Group commences cash tender offer and consent solicitation for all $165 mln of Its outstanding 9% Senior Subordinated Notes Due 2013 (TAST) 10.14 +0.04 : The co also announced that its indirect wholly-owned subsidiary, Fiesta Restaurant Group plans to offer, in a private placement, senior secured second lien notes in the aggregate amount of approximately $200 mln.

8:06AM On The Wires (WIRES) :

* TechPrecision Corporation (TPCS) announced that on July 6, it engaged KPMG as its independent auditor.
* IMAX Corporation (IMAX) and Warner Bros. Pictures, subsidiary of Time Warner (TWX) announced that the global thriller Contagion, from Academy Award winning director Steven Soderbergh, will be released to digital IMAX theaters worldwide day-and-date with the film's traditional release, starting September 9, 2011.

8:01AM McDonald's beats by $0.07, beats on revs (MCD) 86.54 : Reports Q2 (Jun) earnings of $1.35 per share, $0.07 better than the Capital IQ Consensus Estimate of $1.28; revenues rose 16.1% year/year to $6.91 bln vs the $6.66 bln consensus. "Global comparable sales increased 5.6%, with the U.S. up 4.5%, Europe up 5.9% and Asia/Pacific, Middle East and Africa up 5.2%. "As we begin the third quarter, our momentum continues with July global comparable sales expected to be between 4 and 5%."

7:49AM Celestica beats by $0.04, beats on revs; guides Q3 EPS in-line, revs in-line (CLS) 8.52 : Reports Q2 (Jun) earnings of $0.27 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.23; revenues rose 15.4% year/year to $1.83 bln vs the $1.81 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.23-0.29, excluding non-recurring items, vs. $0.25 Capital IQ Consensus Estimate; sees Q3 revs of $1.725-1.875 bln vs. $1.85 bln Capital IQ Consensus Estimate. "Celestica had strong financial results in the second quarter as we delivered robust margin expansion and we achieved 15% year-over-year revenue growth... Despite this environment, Celestica remains focused on providing industry-leading flexibility and operational performance to support our customers' success and delivering on our 2011 revenue growth, operating margin and ROIC targets."

7:41AM Tata Motors' joint venture with Tata Africa Holding formally opened its assembly plant in South Africa (TTM) 22.03 +0.17 : Established with an investment of R110 million, the plant can assemble, from semi knocked down kits, light, medium and heavy commercial vehicles with an annualised capacity of 3,650 vehicles. To begin with, it is assembling two models, the Tata LPT 813 and Tata LPT 1518, both already popular in South Africa.

7:41AM Honeywell beats by $0.04, misses on revs; guides FY11 EPS in-line, revs in-line (HON) 58.21 : Reports Q2 (Jun) earnings of $1.02 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.98; revenues rose 14.6% year/year to $9.09 bln vs the $9.27 bln consensus. Co issues in-line guidance for FY11, now sees EPS of $3.85-4.00 (vs. $3.97 Capital IQ Consensus Estimate), up from the previous range of $3.80-3.95; sees FY11 revs of $36.1-36.7 bln (vs. $36.9 bln Capital IQ Consensus Estimate), raised from its previous range of $36-$36.6 bln. "We expect good organic growth to continue in the second half of 2011. Favorable global macro trends like safety, security, energy, and globalization combined with our continued investments in new technologies, high growth regions, and our process initiatives will enable the company to continue to grow and outperform now and over the long-term."

7:39AM Rockwell Collins misses by $0.02, misses on revs; guides FY11 EPS in-line, revs below consensus (COL) 60.40 : Reports Q3 (Jun) earnings of $1.01 per share, $0.02 worse than the Capital IQ Consensus Estimate of $1.03; revenues fell 1.5% year/year to $1.19 bln vs the $1.26 bln consensus. Co issues mixed guidance for FY11, sees EPS of $4.00-4.10 vs. $4.09 Capital IQ Consensus Estimate and revised from $3.90-4.10 prior guidance; sees FY11 revs of $4.8 bln 4.85 bln vs. $4.94 bln Capital IQ Consensus Estimate and revised from $4.8-5.0 bln prior guidance. During the third quarter of 2011 the co repurchased 1.1 mln shares of its common stock at a total cost of $66 mln, leaving $51 mln available for authorized share repurchases.

7:34AM FLIR Systems misses by $0.18, misses on revs; guides FY11 EPS below consensus, revs below consensus (FLIR) 28.73 : Reports Q2 (Jun) earnings of $0.18 per share, $0.18 worse than the Capital IQ Consensus Estimate of $0.36; revenues rose 17.8% year/year to $390 mln vs the $398.4 mln consensus. Co issues downside guidance for FY11, sees EPS of $1.50-1.55, excluding non-recurring items, vs. $1.69 Capital IQ Consensus Estimate; sees FY11 revs of $1.60-1.65 bln vs. $1.67 bln Capital IQ Consensus Estimate. This compares to the prior outlook of $1.7-1.75 bln in revenue and $1.70-1.75 in earnings per diluted share for the full year 2011. The co's backlog of firm orders for delivery within the next twelve months was ~$486 mln at June 30, 2011, a decrease of $42 million during the quarter. Co also announced that it has acquired Aerius Photonics, a provider of short-wavelength infrared detectors and advanced laser components, for $27 mln in cash.

7:30AM MTR Gaming announced that it intends to offer $565 mln in aggregate principal amount of senior secured second lien notes due 2019 (MNTG) 3.11 : The co intends to apply the net proceeds of the sale of the Notes, together with cash on hand, to purchase all of the Company's outstanding 9% Senior Subordinated Notes due 2012 and its outstanding 12.625% Senior Secured Notes due 2014.

7:23AM Verizon beats by $0.02, reports revs in-line; reffirms FY11 cap-ex (VZ) 37.57 : Reports Q2 (Jun) earnings of $0.57 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.55; revenues rose 2.8% year/year to $27.54 bln vs the $27.43 bln consensus. Verizon continues to expect full-year 2011 capital spending to be similar to its 2010 investment of $16.5 bln. Service revenues in the quarter totaled $14.7 bln, up 6.6% YoY. Data revenues were $5.8 bln, up $1.1 bln or 22.2% YoY, and represent 39.5% of all service revenues. Total revenues were $17.3 bln, up 10.2% YoY. Retail postpaid ARPU grew 1.9% or $1.00 over second-quarter 2010, to $54.12. Retail postpaid data ARPU increased to $21.26, up 15.2% year over year. Retail service ARPU also grew 1.9%, to $52.49. Wireless operating income margin was 27.1%. Verizon Wireless added 2.2 mln total connections, including 1.3 mln retail postpaid customers, and 890,000 wholesale and other connections. These additions exclude acquisitions and adjustments. At the end of the second quarter, the co had 106.3 mln total connections, an increase of 6.6% year over year, including 89.7 mln retail customers and 16.6 mln wholesale and other connections. At the end of the second quarter, smartphones were 36% of Verizon Wireless' retail postpaid customer phone base, up from 32% at the end of first-quarter 2011. Retail postpaid churn was 0.89%, the lowest in the industry and the co's lowest since second-quarter 2008. Total retail churn was 1.22%, an improvement of 9 bps YoY and 11 bps QoQ.

7:21AM Verizon names Lowell McAdam as CEO; Ivan Seidenberg to remain chairman (VZ) 37.57 : Co announced it has named Verizon President and COO Lowell C. McAdam as President and CEO of co, effective Aug. 1, completing the co's CEO succession process under way since 2010. McAdam will have responsibility for the operations of co, including all business units and staff functions.

7:13AM Reynolds American misses by $0.04, reports revs in-line; guides FY11 EPS in-line (RAI) 38.51 : Reports Q2 (Jun) earnings of $0.67 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of $0.71; revenues rose 1.0% year/year to $2.27 bln vs the $2.27 bln consensus. Co issues in-line guidance for FY11, sees EPS of $2.62-2.70, excluding non-recurring items, vs. $2.67 Capital IQ Consensus Estimate and narrowed from prior guidance of $2.60-2.70.

7:12AM China Automotive misses by $0.05, beats on revs; reaffirms FY11 revs guidance (CAAS) 8.21 : Reports Q1 (Mar) earnings of $0.22 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.27; revenues rose 8.1% year/year to $91 mln vs the $88.9 mln consensus. Sales rose because of increased sales of the Company's new Electronic Power Steering ("EPS") system, an increase in export sales and the appreciation of the RMB against the U.S. dollar. he first quarter 2011 gross margin was 22.0%, vs. 26.8% in the same quarter in 2010, mainly due to sales price declines exceeding unit cost reductions. Gross margin in the fourth quarter of 2010 was 20%. Co reaffirms guidance for FY11, sees FY11 revs +15% to ~$397.8 mln vs. $397.27 mln Capital IQ Consensus Estimate.

7:06AM On The Wires (WIRES) :

* The Norwegian Armed Forces has awarded Accenture (ACN) a three-and-a-half-year, $70 mln contract to implement an SAP solution to better support core processes in logistics.
* 3M (MMM) announced earlier that it has entered into an agreement to acquire the do-it-yourself and professional business of GPI Group. GPI is a manufacturer and marketer of home improvement products such as tapes, hooks, insulation and floor protection products and accessories headquartered in France. Terms of the transaction were not disclosed.
* Microsemi Corporation (MSCC) announced its award-winning SmartFusion customizable system-on-chip devices are now supported by FreeRTOSTM, a scale-able real time kernel designed specifically for small embedded systems, and can be used in any type of application.
* Sigma Life Science (SIAL) announced the expansion of its CompoZr Oncology Disease Model portfolio with the release of the first in its collection of breast cancer-specific knockout and knockin cell lines for drug discovery and research.

7:04AM IDEXX Labs beats by $0.11, beats on revs; guides FY11 EPS in-line, revs in-line (IDXX) 81.48 : Reports Q2 (Jun) earnings of $0.83 per share, $0.11 better than the Capital IQ Consensus Estimate of $0.72; revenues rose 12.9% year/year to $317.9 mln vs the $307.9 mln consensus. Co issues in-line guidance for FY11, sees EPS of $2.68-2.73 vs. $2.70 Capital IQ Consensus Estimate; sees FY11 revs of $1.205-1.215 bln vs. $1.21 bln Capital IQ Consensus Estimate. Co sees total capital expenditure plan for 2011 is ~$55 mln.

7:03AM Amcol misses by $0.10, misses on revs (ACO) 35.82 : Reports Q2 (Jun) earnings of $0.46 per share, excluding $0.03 negative impact from a higher tax rate, $0.10 worse than the Capital IQ Consensus Estimate of $0.56; revenues rose 13.6% year/year to $250.8 mln vs the $254 mln consensus. "Although sales for the quarter were in line with our expectations, our gross margins deteriorated in each of our three major business segments and led to our disappointing earnings in Q2."

7:01AM ICF International awarded $16.3 mln contract (ICFI) 24.36 +0.30 : Co announces it has been awarded a re-compete contract from the U.S. Department of Health and Human Services, Office of the Assistant Secretary for Health, Office of the Surgeon General, Office of the Civilian Volunteer Medical Reserve Corps. The contract has a value of $16.3 mln and a term of one base year and four option years.

7:01AM Royal Bank of Scotland announces court preliminary hearing (RBS) 11.83 : Co announce that they presented a petition to the Court of Session in Scotland on 21 July 2011 for an order under Part VII of the UK Financial Services and Markets Act 2000 to sanction a banking business transfer scheme in respect of eligible business carried on in the UK by RBS N.V. It is expected that, as part of the Part VII Scheme, amendments will be made to the terms of securities in respect of which RBS plc is expected to become the issuer as a result of the Part VII Scheme and to agreements RBS N.V. has entered into related to such securities in order to give effect to the Part VII Scheme and, amongst other matters, to mitigate certain potential adverse effects on holders of securities of RBS N.V..

6:48AM Francesca's prices 10 mln share IPO at $17, above the $14-15 expected range (FRAN) :

6:37AM General Electric beats by $0.02, beats on revs (GE) 19.16 : Reports Q2 (Jun) earnings of $0.34 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.32; revenues fell 3.5% year/year to $35.63 bln vs the $34.7 bln consensus. primarily driven by the absence of NBCU revenues after the sale of GE's majority position to Comcast. Excluding this impact, revs were up 7%. GE Capital Services' (GECS) revs decreased 1% from last year to $12.4 bln. Industrial sales of $23.0 bln decreased 6% YoY. Segment profit increased 18% YoY, as increases of more than 100% at GE Capital, more than 500% at Transportation, 9% at Aviation and 8% at Healthcare more than offset earnings decreases of 19% at Energy Infrastructure and 26% at Home & Business Solutions. GE's backlog grew to a record high of $189 bln. Total infrastructure orders were up 24%, reflecting robust strength in equipment orders, up 33%, and service orders up 16%. "International revenues from Industrial (ex NBCU) were $13.4 bln, up 23% representing 59% of total Industrial revenues. GE revenue for the Industrial segments accelerated in growth regions, including double-digit increases in India, China, Southeast Asia, Africa, Russia, Australia, Canada, and Latin America. GE Capital's portfolio transformation is ahead of schedule. Consumer and Commercial Lending and Leasing led with earnings growth of 57% and more than 100%, respectively. We continue to see strong demand for credit with CLL new volume originations at $10.8 bln for the quarter, up 33% from prior year... As previously communicated, Energy earnings and margins were down primarily as a result of pressure in the renewable sector. In addition, margins were impacted by the integration of Energy acquisitions. Indicators are pointing to a stronger second half in 2011 for Energy when we expect ~17% unit volume growth YoY. Integration of strategic Energy acquisitions is ahead of plan, further positioning Energy Infrastructure for growth in the second half of this year. Overall, Industrial earnings should improve in 2H11 and the cycle is expected to accelerate in 2012." Cash generated from Industrial operating activities totaled $4.4 bln in the first half of 2011, on track for full-year plan of $12-13 bln. At quarter-end, GE had $91 bln of consolidated cash. Year-to-date, the co has executed on $1 bln of stock buybacks and $2.7 billion of stock buybacks since restarting the program in 3Q10. The co plans to retire the preferred stock issued to Berkshire Hathaway (BRK.B) in October 2011.

6:28AM Precision Drilling misses by CDN$0.01, beats on revs (PDS) 16.37 : Reports Q2 (Jun) earnings of CDN$0.06 per share, CDN$0.01 worse than the Capital IQ Consensus Estimate of CDN$0.07; revenues rose 31.9% year/year to CDN$345.3 mln vs the CDN$318.6 mln consensus. With regard to co's outlook, co expects to have an average of ~124 rigs committed under term contracts in North America in the third quarter of 2011, an average of 110 rigs contracted for the fourth quarter of 2011 and 87 for the first quarter of 2012. Capital expenditures are expected to be ~$841 mln for 2011, of which $179 mln was expended during the first half of 2011.

6:16AM Complete Production Services beats by $0.05, beats on revs (CPX) 37.99 : Reports Q2 (Jun) earnings of $0.69 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 53.2% year/year to $552 mln vs the $539.8 mln consensus.

6:15AM Prosperity Bancshares beats by $0.01 (PRSP) 46.46 : Reports Q2 (Jun) earnings of $0.75 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.74. "Our non-interest bearing deposits continue to show solid growth, increasing over $212 mln or 13.4% compared to the same quarter last year. Our tangible common equity to tangible asset ratio continues to increase significantly, due entirely to the strong earnings we have been able to produce, and now stands at 6.46% compared with 5.19% in the same quarter last year. Our past due loans and charge-offs continue to decline. The majority of our customers appear to be more profitable when compared to the last few years, although many express concerns about our country's economic conditions and the current political environment. We owe all of our success to our team of associates and board members who have helped grow the company in the right direction with all of their hard work, insight and dedication and for that, I say, thank you! We would also like to thank all of our customers for their business and loyalty to our bank."

6:14AM SunTrust Banks beats by $0.02, beats on revs (STI) 25.73 : Reports Q2 (Jun) earnings of $0.33 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 1.8% year/year to $2.2 bln vs the $2.14 bln consensus. Nonperforming loans declined for the eighth consecutive quarter, decreasing 9% from the prior quarter and 23% from the prior year. Net charge-offs declined 12% and 30%, respectively. Provision for credit losses declined due to the lower net charge-offs and the impact of improved credit quality on the allowance for loan losses. The allowance for loan losses was $2.7 bln, or 2.40% of total loans, down 9 basis points from the prior quarter.

6:12AM Air Products beats by $0.01, beats on revs; guides Q4 EPS in-line (APD) 95.41 : Reports Q3 (Jun) earnings of $1.46 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.45; revenues rose 14.5% year/year to $2.58 bln vs the $2.52 bln consensus. On an underlying basis, sales were up seven percent on higher volumes primarily in the Electronics and Performance Materials, and Tonnage segments. Operating income of $417 mln rose 11% YoY on higher volumes. Co issues in-line guidance for Q4, sees EPS of $1.48-1.53 vs. $1.51 Capital IQ Consensus Estimate. "We anticipate continued strong revenue growth in our Tonnage, and Electronics and Performance Materials segments. With the Tonnage planned maintenance outages behind us and the actions we are taking to improve Merchant performance, we expect margins to improve significantly in the quarter... We continued to see strong volume growth across a number of our businesses. Growth in the Asia Merchant business and more broadly in the energy and electronics markets was strong, while both the U.S. and Europe Merchant businesses were slower. This quarter, as expected, we saw a significant number of planned customer maintenance outages in our Tonnage segment. We remain very disappointed by the continued higher operating and maintenance costs in our Merchant segment and are taking the necessary steps to improve performance."

6:11AM Schlumberger beats by $0.02, beats on revs (SLB) 90.96 : Reports Q2 (Jun) earnings of $0.87 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.85; revenues rose 62.1% year/year to $9.62 bln vs the $9.28 bln consensus. During the quarter, co repurchased 8.2 mln shares of its common stock at an average price of $86.27 for a total purchase price of $706.7 mln under the stock repurchase program. This program has been extended by two years to expire at the end of 2013

6:03AM China Yuchai announces issuance of second tranche of short term financing bonds by its key subsidiary amounting to RMB 700 mln (CYD) 20.51 : The second tranche of the Bonds will mature on July 22, 2012. The second tranche of the Bonds will bear a fixed annual interest rate of 5.65%. All the proceeds from the issuance of the Bonds are to be used by GYMCL as working capital. It is believed that in view of the continued increases in lending interest rates by the People's Bank of China to counter rising inflation, the Bonds issue will lower GYMCL's financial costs.

6:02AM Hornbeck Offshore & Marine Spill Response Corp announce contract to increase response capability in Gulf of Mexico (HOS) 27.34 +0.24 : Cos announced that they have entered into a long-term agreement for spill response services in the Gulf of Mexico. Two U.S.-flagged 370 class multi-purpose support vessels owned by Hornbeck Offshore are being retained by Marine Spill Corp and equipped with dedicated spill response capability.

5:48AM On The Wires (WIRES) :

* Researchers from IBM (IBM) demonstrated the future of large-scale storage systems by successfully scanning 10 bln files on a single system in just 43 minutes, shattering the previous record of 1 bln files in three hours by a factor of 37.
* Scientific Learning Corp (SCIL) announced the launch of BrainPro Autism, new software for at home use to improve language and communication skills in children with autism.
* The proposed AT&T (T) acquisition of T-Mobile USA has the potential to benefit communities across Louisiana (~98%).

3:45AM Anglogold acquires interest in First Uranium from Village Main Reef (AU) 44.35 : Co announces has entered into an agreement to acquire ownership over the 47,065,916 shares in First Uranium held by Village Main Reef, which equates to a 19.79% interest in First Uranium, for CAD0.60 per share ($0.64 per share) representing aggregate consideration of ~CAD28 mln (ZAR205 mln or $30 mln) the rand equivalent of which is payable in cash by AngloGold Ashanti to Village. Prior to this acquisition AngloGold Ashanti held no interest in First Uranium.

2:16AM CoBiz beats by $0.02, revs in-line (COBZ) 6.20 : Reports Q2 (Jun) earnings of $0.08 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.06; revenues fell 2.4% year/year to $33.1 mln vs the $33.4 mln consensus. The provision for loan and credit losses was $2.0 mln for the second quarter of 2011, an $8.5 mln reduction from the prior-year period. During the second quarter of 2011, the co charged-off, net of recoveries, $2.1 mln, as compared to $5.5 mln in the first quarter of 2011 and $14.4 mln during the second quarter of 2010. Recoveries included in net charge-offs were $0.9 mln in the current quarter, versus $0.8 mln in the first quarter of 2011 and $1.7 mln in the prior year quarter. The allowance for loan and credit losses was 3.74% of total loans at June 30, 2011, as compared to 3.79% as of March 31, 2011, and 4.04% as of June 30, 2010. The Allowance covered 150% of nonperforming loans at June 30, 2011.

2:07AM MB Financial beats by $0.16, misses on revs (MBFI) 20.23 : Reports Q2 (Jun) loss of $0.18 per share, $0.16 better than the Capital IQ Consensus Estimate of ($0.34); revenues fell 33.5% year/year to $111.6 mln vs the $113.9 mln consensus. Non-performing loans were $151.0 mln or 2.54% of total loans as of June 30, 2011, a decrease of $167.9 mln (53%) from $318.9 mln at March 31, 2011; provision for credit losses was $61.3 mln for the second quarter of 2011, while our net charge-offs were $92.6 mln. Allowance for loan losses to total loans was 2.19% as of June 30, 2011 compared to 2.80% as of March 31, 2011.

1:46AM Basic Energy Services misses by $0.01, beats on revs (BAS) 36.84 : Reports Q2 (Jun) earnings of $0.45 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.46; revenues rose 69.6% year/year to $296.9 mln vs the $290.4 mln consensus.

1:36AM Horsehead Holding prices $80 mln of 3.8% convertible notes due 2017 (ZINC) 11.09 :

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