NanoViricides Inc. (NNVC)

[FORZANANO]

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InPlay
9:47AM Opening Market Summary: Equities Open Higher (WRAPX) : The major averages registered opening gains with small caps providing early leadership. The Russell 2000 trades higher by 0.4% while the S&P 500 underperforms with a more modest gain of 0.2%.

Cyclical groups have displayed some early strength with energy (+0.3%) and industrials (+0.3%) pacing the early advance. Meanwhile, financials and consumer discretionary sectors underperform, trading with gains smaller than 0.2%.

Treasuries have spent the past hour near their highs with the 10-yr yield off two basis points at 2.60%. August and September factory orders will be reported at 10:00 ET.

9:45AM Relative sector weakness (TECHX) : Sectors that are underperforming the S&P in recent trade include: Semi SMH, Bank KBE, Reg Bank KRE, Internet FDN, Networking IGN, Oil Service OIH, Utility UTIL, Medical Supplies,

9:44AM Anaren Microwave announces postponement of 2013 Annual Meeting of Shareholders (ANEN) 27.77 +2.86 : Co announced that it has postponed its 2013 Annual Meeting of Shareholders, originally scheduled for Nov 6, 2013. The postponement was made in light of the announcement earlier today by the co disclosing that it has entered into a definitive merger agreement to be acquired by ANVC Holding, an affiliate of The Veritas Capital Fund IV. The co expects to schedule a special meeting of shareholders as soon as possible to approve and adopt the merger agreement and merger. If the merger is not approved or the merger agreement is terminated, the co ntends to reschedule its 2013 Annual Meeting of Shareholders as soon as reasonably practicable and to notify shareholders of the date, time and location of the rescheduled meeting.

9:40AM Stock indices push higher off open to probe first level resistances -- Dow +43, S&P +5.5, Nasdaq Comp +7 (TECHX) : Noted first level resistances at 1768/1770 S&P (session high 1767.67), 3933/3938 Nasdaq Comp (session high 3934) and 15655/15665 Dow (session high 15658)

9:38AM Marsh McLennan subsidiary Marsh & McLennan Agency LLC acquires Elsey & Associates, a $4.5 mln revenue agency based in Spring, Texas; terms not disclosed (MMC) 46.08 +0.15 :

9:32AM Cbeyond to offer AAPL iPhone 5s & iPhone 5c on Friday, November 8 (CBEY) 6.46 +0.01 :

9:31AM Cass Information Systems and MobileIron partner to provide integrated managed services for enterprise mobility (CASS) 57.66 +0.38 : Co and MobileIron announced a partnership to deliver comprehensive Managed Mobility Services that simplify the management of the mobile environment. Integration with MobileIron's platform extends Cass services to include mobile data security and device management for enterprises.

9:28AM On The Wires (WIRES) :

Air Industries (AIRI) announced that its Air Industries Machining subsidiary has been awarded a multi-year contract by a leading aerostructures manufacturer to provide nacelle thrust struts. The contract is valued at $27 mln with deliveries over six years.
CSR plc (CSRE) announced that Monster has enabled its 7 inch Monster M7 Android-based tablet with aptX Low Latency.
Prologis (PLD) announced a new lease agreement for a 258,000 square foot facility in Denver, Colorado.
Dunkin' Donuts, part of Dunkin' Brands (DNKN), will open a new restaurant in Barstow at the historic Barstow Station on Nov 4, 2013.
STAG Industrial (STAG) has appointed Virgis W. Colbert as an independent member of its Board of Directors, effective Jan 1, 2014.
AeroVironment (AVAV) has been selected by the Defense Advanced Research Projects Agency to provide its expertise in unmanned aircraft systems toward the development of a new category of this technology. Sierra Nevada will subcontract to AeroVironment on the project, which is valued at $2.3 mln.
AOL On Originals, AOL's (AOL) premium video platform, launched its newest documentary series, city.ballet. today.
Netflix (NFLX) original documentary "The Square" will premiere exclusively on the network in all territories where Netflix is available in early 2014.
9:16AM Neostem subsidiary Progenitor Cell Therapy announces cell therapy manufacturing collaboration with ATMI (NBS) 6.21 : NeoStem (NBS) and its subsidiary, Progenitor Cell Therapy announce that PCT has entered into a collaboration with ATMI (ATMI). PCT and ATMI will collaborate on a non-exclusive basis enabling PCT and PCT's affiliates to offer to their respective clients access to the Integrity? Xpansion technology platform from ATMI.

9:16AM CONMED: Voce Capital demands changes at CNMD; seeks end of family domination; sees significant take-over interest and value (CNMD) 36.26 : Voce believes the multi-generational dominion over ConMed by its founding family has caused this poor performance. It's been abetted by a toothless Board that has tolerated conflicts of interest and sanctioned the misuse of corporate assets. Voce's letter continues:

ConMed suffers from a culture of nepotism, patronage and dystopian corporate governance that would be corrosive in a closely-held corporation but which is utterly corrupting in a public company. And therein lies the wellspring for so many of ConMed's failures: ConMed is unquestionably family-run -- the Corasanti clan members pull all the strings and pamper themselves royally -- yet it's not family-owned, as they hold very little of its stock. Voce notes the Corasanti family collectively owns approximately 2.3% of ConMed's equity. Voce's letter discusses why ConMed is attractive to a wide range of strategic acquirors, including large orthopedic players as well as diversified med-tech companies.

Based on its analysis, Voce believes ConMed's shareholders would likely receive a significant premium, potentially in excess of 50% of the stock's current value, were the Board to pursue a sale of the Company with the assistance of professional advisors. Voce's letter concludes that should ConMed fail to act Voce is preserving the full range of options at its disposal to protect shareholder interests.

9:14AM S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +14.50. (WRAPX) : The S&P 500 futures sport a pre-market gain of 0.4% after climbing steadily through the overnight session. Equities are poised for an upbeat open after markets in Asia and Europe began the week on a subdued note.

Although investors are in store for another busy week of earnings, this morning featured less than 20 quarterly reports. Most notably, Kellog (K 63.28, +0.99) reported a bottom-line beat on in-line revenue, and announced plans to cut 7% of its workforce.

In today's economic data, August and September factory orders will be reported at 10:00 ET.

9:07AM MW and JOSB dropping following MW response to JOSB (see 9:03) (MW) 43.34 :

9:05AM CBIZ Acquires Knight Field Fabry; financial terms not disclosed (CBZ) 8.21 : Co announced that it has acquired the non-attest assets of Knight Field Fabry, LLP, of Denver, CO, effective November 1, 2013. Knight provides traditional accounting, tax, litigation support and valuation services to small and mid-sized clients primarily located in the Denver area. This acquisition is expected to add 11 employees and approximately $1.5 million to CBIZ annualized revenue and will become part of CBIZ's existing Denver office.

9:04AM Air Industries Group secures $27 mln multi-year commercial aerospace contract (AIRI) 7.61 : Co announced that its Air Industries Machining Corp. subsidiary has been awarded a multi-year contract by a leading aerostructures manufacturer to provide nacelle thrust struts. The contract is valued at $27 mln with deliveries over six years. Deliveries are to begin in the first half of 2014. These components will be used in a new geared turbofan jet engine manufactured by one of the world's leading providers of aircraft engines. This engine is expected to be used on several new commercial jetliners.

9:03AM Men's Wearhouse responds to Jos. A. Bank (JOSB) letter; concluded not in the best interest of shareholders to provide access to nonpublic information (MW) 43.34 : Following receipt of the due diligence request, the Men's Wearhouse Board of Directors met and, in consultation with its outside financial and legal advisors, concluded that it is not in the best interest of the Company's shareholders to provide Jos. A. Bank with access to nonpublic information concerning Men's Wearhouse. In responding to the due diligence request, the Board noted its determination that the highly-conditional Jos. A. Bank $48.00 per share proposal significantly undervalues Men's Wearhouse.

9:03AM Ruckus Wireless wins Netgear (NTGR) patent infringement case (RKUS) 14.45 : Ruckus Wireless (RKUS) announces that it was exonerated on October 31, 2013 by a jury that ruled in favor of Ruckus Wireless, determining that Ruckus did not infringe on two patents, as alleged by Netgear.

The unanimous jury decision related to a lawsuit brought against Ruckus Wireless by Netgear, Inc., in the United States District Court for the District of Delaware. The suit stemmed from five patents that Netgear purchased from Adaptix, a known patent licensing entity, in August 2010. Netgear (NTGR) filed suit against Ruckus in November 2010 shortly after acquiring the patents.

Previously the Court had found three of the five patents invalid. The remaining two U.S. Patents were the patents before the jury that subsequently decided in favor of Ruckus.

9:03AM Mannkind misses by $0.01 (MNKD) 4.76 : Reports Q3 (Sep) loss of $0.17 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.16).

9:03AM AutoNation announces Oct total retail new vehicle unit sales of 22,914 (AN) 48.39 : Co announces its total retail new vehicle unit sales in October 2013, as reported to the applicable automotive manufacturers, were 22,914, an increase of 9% as compared to October 2012. Same-store retail new vehicle unit sales in October 2013 were 21,833, an increase of 4% as compared to October 2012. Total retail new vehicle unit sales for AutoNation's operating segments were as follows:

7,003 for Domestic, up 9% versus October 2012
10,744 for Import, up 8% versus October 2012
5,167 for Premium Luxury, up 13% versus October 2012.
9:03AM STAG Industrial announced that it has appointed Virgis Colbert as an independent member of its Board of Directors, effective January 1, 2014 (STAG) 21.44 : Co announced that it has appointed Virgis W. Colbert as an independent member of its Board of Directors, effective January 1, 2014.

9:02AM Heritage-Crystal Clean announces the acquisition of used oil collection service territories in the Great Lakes Region (HCCI) 17.52 : Co announced the signing of an asset purchase agreement by its subsidiary Heritage -- Crystal Clean, LLC to acquire certain assets of RS Used Oil Services Inc., a subsidiary of Universal Lubricants LLC. The acquired business includes service routes covering Indiana, Ohio, Wisconsin and portions of Illinois. Based on the historical performance of the business, the Company expects the transaction will result in additional used oil collection volume of ~8 million gallons per year. The used oil collection volume from this transaction will serve as an important source of supply for the Company's used oil re-refinery in Indianapolis, Indiana.

9:02AM Zogenix: Altus Formulation signs agreement with Zogenix for development of abuse deterrent formulations of Zohydro ER (ZGNX) 2.92 : Altus Formulation announced that it has entered into a Development and Option Agreement with Zogenix (ZGNX) to develop abuse deterrent formulations of Zohydro ER using Altus's proprietary, clinically validated Intellitab drug delivery platform. Altus and Zogenix have initiated development of Intellitab abuse deterrent formulations of Zohydro ER with the entry into the agreement.

Under the D&O Agreement, Altus has granted Zogenix an option to enter into an exclusive license on mutually agreed terms to develop and commercialize abuse deterrent formulations of Zohydro ER in the United States. In connection with the transaction, Zogenix will pay Altus a technology access fee in the amount of $750,000. Zogenix will fund all development activities and Altus may earn an additional $3.5 mln in development and regulatory milestones through to submission of a New Drug Application. Following exercise of the option, Altus will be eligible to receive additional regulatory and sales milestone payments and royalties based on net sales of the licensed product.

9:02AM Delta Air Lines reports passenger unit revenue for October increased 2.0% YoY (DAL) 26.70 : Co reports financial and operating performance for October 2013.

Consolidated passenger unit revenue for the month of October increased 2.0% year over year, driven by strong trans-Atlantic performance and business demand in Delta's Atlanta and New York hubs.
The year over year change in unit revenues was affected by $25 million of revenue loss from the government shutdown, Superstorm Sandy's impact in the prior year, and yen devaluation. Each of these factors pressured unit revenue by approximately one percentage point apiece.
Delta completed 99.9 percent of its flights in October and ran an on-time arrival rate of 91.4 percent.
The company's financial and operating performance is detailed below.
Projected December quarter fuel price per gallon, adjusted $3.03 - $3.08
October mainline completion factor 99.9%
October on-time performance (preliminary DOT A14) 91.4%

9:02AM Quantum Fuel awarded $3.2 million in additional natural gas storage and fuel system agreements for diesel to natural gas conversion program (QTWW) 4.89 : Co announced that it recently was awarded an additional aggregate $3.2 million in new agreements by ZHRO, Solutions. These new agreements are in addition to the $2.6 million development agreement previously awarded by ZHRO to Quantum under which Quantum is developing a fully-integrated compressed natural gas storage and fuel delivery system for robust and cost-effective aftermarket conversion of heavy duty diesel fleets to run on natural gas.

The new agreements include orders for Quantum's storage modules, Quantum's supply of the natural gas fuel system for multiple validation vehicles, development of fuel system control software and oversight of the development and integration of the engine control software system. These full-scale systems, representative of production release design, are scheduled to be delivered to ZHRO in Q4 2013. The program will leverage Quantum's decades of experience developing, validating, and commercializing production software controls for alternative fuel and hybrid-electric OEM vehicles.

9:02AM Value Vision Media: Clinton Group calls for a special shareholder meeting at ValueVision Media; seeks to replace majority of board with independent director nominees (VVTV) 5.21 : Clinton Group announces that one of its affiliates intends to file today the documents required to demand a Special Meeting of shareholders at ValueVision Media (VVTV). Clinton Group, together with its affiliates and members of its group, owns more than 10% of the outstanding stock of ValueVision.

At the Special Meeting, which the Company is required to hold within 90 days, the Clinton Group intends to ask its fellow shareholders to remove the majority of the current directors, to expand the Board of Directors to nine directors, and to elect seven independent nominees who will seek to enhance the value of ValueVision through improved strategy, operations and merchandising.

Clinton Group has identified seven experienced professionals to replace the incumbent directors it seeks to remove and to fill the two vacancies that would be created by the expansion of the Board. The Clinton Group's independent director nominees include a former Chief Executive Officer of HSN; a former CFO, COO and President of HSN who also served as the President of Tommy Hilfiger and the CFO of Bloomingdale's; a former Senior Vice President of QVC with extensive eCommerce experience; a merchant who was the CEO of a public specialty retailer and the group Vice President for Sears' home fashion and women's apparel business; and a former investment banker with experience in the media and television business.

9:01AM Roche Hldg reports Landmark study of more than 27,000 women shows favorable results of Roche's CINtec PLUS cytology test (RHHBY) 69.46 : Co announced the positive findings of the Primary ASC-US LSIL Marker Study that have been published in The Journal of the National Cancer Institute.1 The pan-European study, including more than 27,000 women from five European countries, was performed to estimate the diagnostic performance of the CINtec PLUS cytology test in screening for cervical precancers compared to more traditional screening methods like Pap cytology.

The study assessed whether the test, which uses two biomarkers, p16 and Ki-67, that are indicative of oncogenic (cancer-causing) human papillomavirus (HPV) infections, provides both high sensitivity and specificity for high-grade precancerous cervical lesions. The results showed that when compared to Pap cytology testing, the CINtec PLUS cytology test was more effective than Pap cytology in detecting precancerous lesions. Pap cytology had a sensitivity of 67.5% while the CINtec PLUS test had a sensitivity of 86.7%.

"The results demonstrated in the PALMS trial reinforces the medical value Roche brings to cervical cancer screening. We are committed to improving patient outcomes by providing differentiated diagnostic tools for doctors and laboratories,"

9:01AM Marathon Patent Group's subsidiary files patent infringement lawsuits against Samsung Electronics America (SSNLF), Microsoft (MSFT) and 20 other defendants (MARA) 5.80 : Co announces that its wholly-owned subsidiary Vantage Point Technology has filed 22 patent infringement lawsuits in the United States District Court for the Eastern District of Texas. Vantage Point is asserting infringement related to U.S. Patent number 5,463,750 entitled "Method and Apparatus for Translating Virtual Addresses in a Data Processing System Having Multiple Instruction Pipelines and Separate Translation Lookaside Buffers for each Pipeline."

9:00AM Galectin Therapeutics: 10X Fund issues statement on exercise of additional 200,000 GALT warrants (GALT) 9.14 : Rod D. Martin, Co-Founder and Managing Member of 10X Capital Management, whose 10X Fund is the largest shareholder in Galectin Therapeutics, issued the following statement: "Friday, November 1st, the 10X Fund exercised warrants for another 200,000 shares in Galectin Therapeutics. These warrants were not due to expire until 2019. Including our October 10 warrant exercise, this increases our holdings by a total of 388,000 since the first of October."

8:56AM S&P futures vs fair value: +4.20. Nasdaq futures vs fair value: +13.00. (WRAPX) : The S&P 500 futures trade higher by 0.4%.

Markets across Asia ended mostly lower as only China's Shanghai Composite (unch) and India's Sensex (+0.2%) managed to stay out of the red. The flat trade in China came after Saturday's improved Non-Manufacturing PMI (56.3 actual v. 55.4 expected) while the small gain for India's Sensex lifted trade to an all-time high for a fifth straight session. Elsewhere, Thailand's SET (-2.9%) was pressured after protestors took to the streets in repose to government efforts to pass a blanket amnesty bill for people charged with offenses during prior political clashes. There was no other notable data from the region.

In Japan, the Nikkei was closed for Culture Day.
Hong Kong's Hang Seng shed 0.3% amid light trade. Casino stocks were pressured as MGM China and Sands China gave up 2.2% and 1.4%, respectively. Heavyweight Tencent Holding was also weak, giving up 1.4%.
In China, the Shanghai Composite settled flat following reports the city of Shenzhen was upping minimum down payments for second homes. Developers were weak as Vanke and Poly Real Estate both fell more than 1.0%.
Major European indices hold modest gains with Great Britain's FTSE (+0.6%) in the lead. Among headlines of note, European Central Bank member Jorg Asmussen said interest rates in Germany are too low, but would not comment on this week's upcoming ECB rate decision. In economic data, Eurozone Manufacturing PMI held steady at 51.3, as expected. Separately, Sentix Investor Confidence rose to 9.3 from 6.1 (6.0 forecast). Germany's Manufacturing PMI increased to 51.7 from 51.5 (51.5 forecast). Great Britain's Construction PMI rose to 59.4 from 58.9 (58.9 expected). French Manufacturing PMI slipped to 49.1 from 49.4 (49.4 expected). Italian Manufacturing PMI ticked down to 50.7 from 50.8 (51.0 consensus). Elsewhere, Spain's Manufacturing PMI increased to 50.9 from 50.7 (50.9 forecast).
In Germany, the DAX is higher by 0.4% with K+S trading well ahead of the remaining names. The fertilizer stock holds a solid gain of 7.5%. Deutsche Bank is the weakest performer, down 0.8%.
France's CAC trades up 0.4% as growth-sensitive companies lead. Lafarge and EADS are both up near 2.5%. Financials have displayed relative weakness as Credit Agricole and Societe Generale trade little changed.
Great Britain's FTSE holds an advance of 0.6% as miners display strength. Antofagasta, Fresnillo, and Rio Tinto are all up between 2.3% and 3.2%. Defense names lag with Meggitt and Rolls-Royce Holdings down 2.8% and 0.2%, respectively.
8:56AM On The Wires (WIRES) :

Barnes & Noble (BKS) announced that customers who purchase $75 or more in Barnes & Noble Gift Cards will receive a free $10 gift card. This special, limited time offer is available starting today through Dec 2, 2013.
3D Systems (DDD) announced it plans to commercialize a number of significant new products, including several breakthrough advanced manufacturing printers and professional scanners, at EuroMold 2013 in Frankfurt, Germany, Dec 3 - 6, 2013, at the Frankfurt Messe.
Shanghai Pharmaceuticals has successfully deployed the latest version of Manhattan Associates' (MANH) Warehouse Management solution at a new warehouse facility in Shanghai, China.
Synthesis Energy Systems (SYMX) announced that the handover of the Xuecheng Energy Methanol Plant to its Zao Zhuang New Gas JV has been completed, giving the ZZ JV control of XE's adjacent methanol production plant and methanol product sales.
Fluor (FLR) announced the election of Lynn Swann to its Board of Directors. The size of Fluor's board will increase to 13 members, 12 of whom are independent directors.
Charles River Associates (CRAI) announced that the co assisted Office Depot (ODP) with securing antitrust clearance from the FTC for its merger with OfficeMax (OMX).
Hertz (HTZ) announced that Hertz Equipment Rental has launched in Iowa with a new location in Cedar Rapids to serve the industrial, heavy construction and do-it-yourself markets.
Northrop Grumman (NOC) and Triumph Aerostructures - Vought Aircraft Division, a subsidiary of Triumph Group, have successfully demonstrated the structural strength of the U.S. Navy's Triton unmanned aircraft system wing.
AAI Test & Training, an operating unit of Textron Systems, a Textron (TXT) co, announced a $1.6 mln award from the U.S. Naval Air Warfare Center Aircraft Division at Lakehurst, N.J., to provide Advanced Boresight Equipment systems for the Royal Australian Navy's MH-60R Seahawk helicopters.
Cetera Financial Group has partnered with Envestnet (ENV) to deliver new performance reporting and business analytics capabilities to its advisors.
Inuvo (INUV) announced the redesign of an existing company owned web property.
OPKO Health (OPK) has commenced a pivotal, multi-center clinical validation study for the co's proprietary 4Kscore test for the prediction of prostate cancer prior to prostate biopsy. The co has begun enrolling patients at the first of 13 sites across the U.S. and is planning to enroll more than 1,200 patients referred for a prostate biopsy over the course of the next few months.
8:51AM Calgon Carbon: Starboard delivers letter to Calgon Carbon CEO and Board of Directors and issues detailed presentation, highlighting additional opportunities to improve operating margins, capital allocation, and corporate structure (CCC) 19.95 : Starboard Value LP, one of largest shareholders of Calgon Carbon with ~9.7% of the outstanding common stock of the Company, announced that it has delivered a letter to the Company's President and CEO, Randall S. Dearth, and the Company's Board of Directors, as well as a detailed presentation, highlighting significant opportunities to improve Calgon's operating margins, capital allocation, and corporate structure.

Letter Highlights additional opportunities to improve operating margins, capital allocation, and corporate structure; encouraged by progress towards improved margins but believes there remains significant opportunity for further margin improvement through additional cost reductions; Urges board to seriously consider and implement a share repurchase of $150-$200 million through a dutch tender offer proposes that company take steps to improve tax efficiency by listing its activated carbon assets in a publicly traded MLP.

The full text of the Letter and the Presentation are available for viewing on the SEC's website and at the following link: http://tinyurl.com/StarboardLetterPresoCalgon.



8:39AM American Axle announces election of Samuel Valenti III as an independent director of the Board effective Oct 31, 2013 (AXL) 18.26 : Valenti will also serve on co's audit and strategy committees.

8:36AM Intuitive Surgical: New study finds robotic-assisted lung surgery offers improved patient outcomes compared to open surgery (ISRG) 372.03 : A new study comparing open surgery, video-assisted thoracic surgery, and robotic-assisted surgery to remove diseased lung tissue found that robotic-assisted surgery is associated with significantly lower death rates, lower overall complication rates, and shorter hospital stays compared with open surgery. Researchers also concluded that robotic-assisted surgery is an appropriate alternative to VATS.

Kent and his colleagues reviewed State Inpatient Databases and identified 33,095 patients in eight states who underwent open surgery, VATS, or robotic-assisted surgery. Compared to traditional open surgery, robotic-assisted surgery was associated with:

Significantly reduced death rate (0.2 percent vs. 2.0 percent, p = 0.016)
Shorter hospital stays (5.9 days vs. 8.2 days, p < 0.0001) Lower overall complication rate (43.8 percent vs. 54.1 percent, p = 0.003)
The results also indicated that the death rate, length of hospital stays and overall complication rate for robotic-assisted surgery were similar to or better than VATS.
8:36AM BlackBerry confirmed receives investment of U.S. $1 billion from Fairfax Financial and other institutional investors; Concludes Review of Strategic Alternatives (BBRY) 7.77 : Co confirmed that it has entered into an agreement pursuant to which Fairfax Financial Holdings and other institutional investors will invest in BlackBerry through a U.S. $1 billion private placement of convertible debentures. Fairfax has agreed to acquire U.S. $250 million principal amount of the Debentures. The transaction is expected to be completed within the next two weeks.

Under the terms of the transaction, the Purchasers will subscribe for U.S. $1 billion aggregate principal amount of 6% unsecured subordinated convertible debentures convertible into common shares of BlackBerry at a price of U.S. $10.00 per common share. The Debentures have a term of seven years. Based on the number of common shares currently outstanding, if all of the U.S. $1 billion of Debentures were converted, the common shares issued upon conversion would represent approximately 16% of the common shares outstanding after giving effect to the conversion.

Upon the closing of the transaction, John S. Chen will be appointed Executive Chair of BlackBerry's Board of Directors and, in that role, will be responsible for the strategic direction, strategic relationships and organizational goals of BlackBerry.

Prem Watsa, Chairman and CEO of Fairfax, will be appointed Lead Director and Chair of the Compensation, Nomination and Governance Committee and Thorsten Heins and David Kerr intend to resign from the Board at closing.In addition, Mr. Heins will step down as Chief Executive Officer at closing and Mr. Chen will serve as Interim Chief Executive Officer pending completion of a search for a new Chief Executive Officer.

8:36AM Elec For Imaging: German Federal Patent Court invalidates Durst's white ink patent in case against EFI (EFII) 34.20 : Co announced that the Federal Patent Court of Germany has invalidated substantial parts of a patent held by Durst Phototechnik Digital Technology GmbH related to white ink printing that Durst had previously asserted in an infringement action against EFI. On October 23, 2013, the German Federal Patent Court agreed with EFI and invalidated substantial parts of Durst's patent. Under German law, Durst has the right to appeal. Should there be no appeal, this will conclude a multi-year legal battle initiated by Durst repeatedly suing EFI without provocation.

8:35AM Tractor Supply announces planned chairman of the Board succession (TSCO) 71.12 : Co announced that its Board of Directors has elected Cynthia Jamison to succeed James Wright as Chairman of the Board upon the conclusion of Wright's term at the end of the year. Ms. Jamison will become Chairman effective January 1, 2014. Mr. Wright will resign his position as a board member effective December 31, 2013, consistent with Mr. Wright's plan to serve as Executive Chairman of the Board with a term of one year, as previously announced in September 2012.

8:35AM Gray Television agrees to purchase Yellowstone Television for $23 mln; transaction will be immediately accretive (GTN) 8.34 : Co announces it has entered into an agreement to purchase Yellowstone Television. Gray purchased a 99% non-voting interest in Yellowstone for $23 mln and commenced operating the Yellowstone stations pursuant to a local marketing agreement.

Gray will acquire voting control of Yellowstone in a subsequent transaction that is expected to close in the fourth quarter of 2013 or the first quarter of 2014. Additional terms were not disclosed. The transaction purchase price represents a multiple of 6.2 times a blended average of 2013-2014 pro forma broadcast cash flow of the stations. The transaction will be immediately accretive to Gray.

8:34AM CRA Intl announced that it assisted Office Depot (ODP) with securing antitrust clearance from the US Federal Trade Commission for its merger with OfficeMax (OMX) (CRAI) : Co announced that it assisted Office Depot with securing antitrust clearance from the US Federal Trade Commission (FTC) for its merger with OfficeMax. On November 1, 2013, the FTC announced it had unanimously voted to close its seven-month investigation into the proposed $1.2 billion merger of the office supply superstores (OSS), and concluded that the merger is unlikely to lessen competition in the sale of consumable office supplies.

In its decision, the FTC noted how event studies demonstrated that Office Depot and OfficeMax retail prices do not respond to the closing or opening of one another's stores. The event studies conducted by CRA's economists showed that Office Depot and OfficeMax pricing is not uniquely constrained by competition with one another, even in locations where Staples does not have a store nearby.

CRA's econometric analysis demonstrated that post-merger prices will be constrained by broad competition, including competition with other retail formats, such as mass merchants, club stores, and online commerce. In closing its investigation, the FTC concurred that "[a]ll of the econometrics ... indicate that the merger is unlikely to lead to anticompetitive price increases."

8:34AM IntercontinentalExchange reports Oct average daily volume (ADV) for futures and options was 3.36 mln contracts, a decrease of 1% from the prior Oct (ICE) 195.35 :

8:33AM Black Diamond promoted Aaron Kuehne to chief financial officer, effective November 1, 2013 (BDE) 14.90 : Co has promoted Aaron Kuehne to chief financial officer, effective November 1, 2013. Kuehne, who has served as interim CFO for the past seven months, joined Black Diamond nearly three years ago as the director of financial reporting before being promoted to vice president of finance. He was appointed permanent CFO after the Company performed an extensive external search in which he was considered among a pool of talented candidates. Prior to joining Black Diamond, Kuehne served in various capacities with KPMG, most recently as an audit manager.

8:33AM Engility Joint Venture awarded $142 mln contract to support the department of justice's asset forfeiture program (EGL) 31.94 : Co announced that Forfeiture Support Associates, a venture jointly held with AECOM Technology Corporation (ACM), has been awarded a $142 million option year on its potential seven-year contract to provide professional, financial and legal support to the Department of Justice's Asset Forfeiture Program. This option year runs from Oct. 1, 2013 through Sept. 30, 2014, and is the fourth year of this seven-year contract, which ends in March 2018.

8:31AM Core-Mark increases in quarterly cash dividend of 15.8% to $0.22 per share (CORE) 70.30 :

8:31AM Good Times restaurants sales accelerate +26% in October (GTIM) 2.46 : Co announced its same store sales for its Good Times restaurants increased 26% for the month of October, its seventh consecutive month of double-digit increases. The Company reiterated that while it does not normally release all monthly sales results, it plans to continue to release monthly same store sales results because the trend is so significant.

Commenting on the sales results, Boyd Hoback, President & CEO said, "Our breakfast sales increased to almost 9.5% of total sales for the month, supported by our television campaign on Hatch Valley New Mexico Green Chile that featured our breakfast burritos. December of 2013 was the first full month we had breakfast implemented, so we are thrilled to be pushing 10% sales mix in only nine months and we estimate our flow through to restaurant level profit to be approximately 25% from the new daypart sales. The remaining 16.5% sales increase was almost entirely due to growth in transactions with a very minor 3.9% increase in average check per person."

8:30AM Bioanalytical Sys. Announces Extension of Mortgage Maturity (BASI) 1.73 : Co announced that it has negotiated a twelve month extension, until October 31, 2014, on the maturity of its $5,255,000 mortgage that was originally scheduled to mature on October 31, 2013. "This extension enhances our flexibility as we continue to explore alternatives for this debt, including a sale/leaseback transaction on our building in West Lafayette or a refinancing," said President, CEO and CFO Jacqueline Lemke.

8:28AM S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +10.00. (WRAPX) : U.S. equity futures sport modest gains with the S&P 500 futures trading higher by 0.3%. The first full week of November has gotten off to a relatively quiet start with markets in India, Japan, and Singapore closed for holidays. Meanwhile, China's Shanghai Composite closed flat after the country's Non-Manufacturing PMI came in at a 14-month high of 56.3.

Elsewhere, European indices trade modestly higher while the euro rebounds from last week's bout of weakness against the dollar. Currently, the single currency is higher by about 20 pips versus the greenback near 1.3500. Meanwhile, the Dollar Index holds a modest loss of 0.1% at 80.60.

8:28AM On The Wires (WIRES) :

Suffolk Bancorp (SUBK) announced the opening of a new Loan Production Office at 1055 Franklin Avenue, Suite 200, Garden City, NY.
Meru Networks (MERU) announced Wi-Fi Alliance certification and general availability of the AP832, the Wi-Fi industry's fastest access point.
DaVita Clinical Research (DVA) announced that co representatives and their collaborators will present nine abstracts at the American Society of Nephrology Kidney Week in Atlanta, Nov. 5-10.
Virtual Piggy (VPIG) announced that it will provide its youth-friendly payment system to The Journeys Group, a division of Genesco (GCO).
Informatica (INFA) announced that Banco Volkswagen has standardized on Informatica to increase revs, enhance customer loyalty and grow market share.
Green Innovations (GNIN) has appointed Philip Rundle, the co's current CEO, and Charles R. Andrews, to its Board of Directors.
Equinix (EQIX) appointed Pete Hayes as chief sales officer.
Lincoln Financial Group (LNC) has partnered with ComPsych to offer new value-added services to its Employee Assistance Programs and Group Life/AD&D policies.
Centene (CNC) has been notified by the South Carolina Department of Health and Human Services that Absolute Total Care, its South Carolina subsidiary, has been selected to serve dual-eligible members as part of the state's pilot program to provide integrated and coordinated care for individuals who are eligible for both Medicare and Medicaid.
Leidos (LDOS) has been awarded a prime vaccine adjuvant development contract by the NIAID, part of the National Institutes of Health, to improve the efficacy of vaccine candidates for prevention of anthrax and West Nile virus disease. The single-award, cost-plus-fixed-fee contract has a one-year period of performance valued at $2.2 mln, followed by four option years, for a total contract value of ~ $12.4 mln, if all options are exercised.
USANA Health Sciences (USNA) is building a facility in Beijing. The ~ $40 mln structure will house manufacturing and production operations.
Centrify announced a new free solution for Marketo (MKTO) customers - Centrify for Marketo Single Sign-On.
8:22AM Gapping down (SCANX) : In reaction to disappointing earnings/guidance: RYAAY -12.8%, ZGNX -7.5% (also intends to offer and sell $60 mln of shares of its common stock in an underwritten public offering).

M&A news: BBRY -16.3% ( Globe and Mail suggesting Fairfax deal is dead).

Select financial names lower: UBS -3.2% and CS -3.1% (UBS AG and Credit Suisse (CS) lower in European trading amid concerns about raised capital requirements), RBS -1.8% ( in discussions to cancel out B shares, according to reports ), DB -1.1%

Other news: VELT -65.5% (to sell mobile Marketing Businesses in US, UK, and India to affiliates of GSO Capital Partners; unit Mobclix ceases all operations; files voluntary Chapter 7 petition), ALU -4.9% (announced launch of capital increase for an amount of EUR955 mln, intent to launch $750 mln high yields bond offering and execution of commitment letter for implementation of EUR500 mln new syndicated revolving credit facility), JMI -0.8% (files for $750 mln mixed securities shelf offering).

Analyst comments: TEVA -0.7% (downgraded to Underweight from Neutral at JPMorgan), AFL -0.3% (downgraded to Neutral from Buy at Citigroup)

8:21AM Kandi Technologies subsidiary, Kandi Vehicles, completed the ownership transfer of Kandi Changxing to the JV Company (KNDI) 6.64 : Co announced that its wholly owned subsidiary Zhejiang Kandi Vehicles Co. Ltd. completed the transfer of its entire ownership of Kandi Electric Vehicles (Changxing) Co., Ltd. to Zhejiang Kandi Electric Vehicles Co., Ltd. with local State Administration of Industry and Commerce on November 1st, 2013. The transfer is pursuant to the Joint Venture Agreement of the Establishment of the JV Company between Kandi Vehicles and Shanghai Maple Guorun Automobile Co., Ltd., a 99% owned subsidiary of Geely Automobile Holdings Ltd. signed on March 22nd, 2013.

Pursuant to the terms of the JV Agreement, the JV Company has paid RMB 400,000,000 (approximately USD 65,025,800) before September 30th, 2013 and acquired 100% ownership of Kandi Changxing from Kandi Vehicles. Upon the completion of this transfer, Kandi becomes a 50% owner of Kandi Changxing through Kandi Vehicles and its 50% ownership of the JV Company.

8:20AM China Auto Logistics regains compliance with Nasdaq listing requirement (CALI) 2.65 :

8:16AM CB Richard Ellis acquires CB Richard Ellis Carmody to expand its reach in the Southeastern US (CBG) 23.03 : Co announces that it has acquired CB Richard Ellis Carmody, a Charleston, South Carolina based commercial real estate services firm that has been an affiliate of CBRE serving the South Carolina coastal markets since 1997. The acquisition of CB Richard Ellis Carmody enhances CBRE's coverage of the rapidly growing southeastern corridor of the U.S.

8:12AM EPL Oil & Gas resumes production within its West Delta and South Pass fields following a third party pipeline inspection (EPL) 31.55 : Co reported it has resumed production within its West Delta and South Pass fields following a third party pipeline inspection. A previously reported, EPL's oil production was curtailed due to a third party pipeline inspection that began on October 24th. The pipeline was shut in to conduct a government mandated integrity test that is required every five years, which was lengthened due to minor repair work. EPL was notified on late Saturday, November 2nd, that the repairs and integrity test had concluded, allowing the West Delta and South Pass fields to resume production.

8:12AM Gapping up (SCANX) : In reaction to strong earnings/guidance: CSIQ +5.7% (sees shipments ahead of original guidance; sees revs below consensus), TA +5.6%, RLGY +5.1% (light volume), NTE +3.8%, (light volume), HBC +2.6%, SYY +1.0%.

M&A related: MHGC +11.4% (Yucaipa Companies issues letter to Board, makes proposal to acquire the company for $8 per share ), BRY +7.7%, LINE +0.6% (Linn Energy, LinnCo and Berry Petroleum Amend Merger Agre