Brazilian kept wife in cellar for 16 years: police
This guy should be hung. IMO
RIO DE JANEIRO — A Brazilian man has been arrested on suspicion of keeping his wife locked in a squalid basement for 16 years while he lived with another woman in the same house.
Acting on a tip, police on Wednesday found Sebastiana Aparecida Groppo, 64, in the cellar of the house in the city of Sorocaba in Sao Paulo state.
Mubarak's damage control: Too little too late? Looters rampaged through malls and luxury shops in upmarket Cairo, as more army men doffed their uniforms and joined the unprecedented movement for Egyptian President Hosni Mubarak's ouster that has left over 100 dead in the last six days.
A beleaguered Mubarak, 82, had on Saturday showed first signs of handing over power as he appointed for the first time his intelligence chief, Omar Suleiman as Vice-President after 30 years of autocratic rule.
Thousands of protesters defied the curfew for the second night and Cairo's central Tahrir (Liberation) Square remained filled with protesters. Troops and armoured vehicles have been deployed across the city to guard key government buildings, and major tourist and archaeological sites.
Despite heavy security presence, at least two looters managed to get into Cairo's museum of antiquities and damaged some of the exhibits. Thieves broke into the Arab International Bank and several cafes and eateries. To protect their property from looters, residents of the city set up committees armed with guns, clubs and knives.
At least 102 people have been killed in five days of anti government unrest, security and medical sources said.
Protesters tried to storm the Interior Ministry in central Cairo on Saturday, after which police opened fire killing three persons. Shortly after Suleiman, an army career man, was sworn in, Mubarak asked the current aviation minister Ahmed Shafiq, to form a new government.
Shafiq, a former chief of Air Staff, has often been mooted as a potential successor to Mubarak. As the violence raged, the President held crisis talks with officials late in the afternoon and appointed the new Vice President and Prime Minister.
The scale of Egypt's crackdown on the Internet and mobile phones amid deadly protests against the rule of President Hosni Mubarak is unprecedented in the history of the web, experts said. US President Barack Obama, social networking sites and rights groups around the world all condemned the moves by Egyptian authorities to stop activists using cellphones and cybertechnology to organise rallies.
"It's a first in the history of the Internet," Rik Ferguson, an expert for Trend Micro, the world's third biggest computer security firm, told AFP.
Julien Coulon, co-founder of Cedexis, a French Internet performance monitoring and traffic management system, added: "In 24 hours we have lost 97 per cent of Egyptian Internet traffic.
According to Renesys, a US Internet monitoring company, Egypt's four main Internet service providers cut off international access to their customers in a near simultaneous move at 2234 GMT on Thursday.
Around 23 million Egyptians have either regular or occasional access to the Internet, according to official figures, more than a quarter of the population.
"In an action unprecedented in Internet history, the Egyptian government appears to have ordered service providers to shut down all international connections to the Internet," James Cowie of Renesys said in a blog post.
Link Egypt, Vodafone/Raya, Telecom Egypt and Etisalat Misr were all off air but Cowie said one exception was the Noor Group, which still has 83 live routes to its Egyptian customers.
He said it was not clear why the Noor Group was apparently unaffected "but we observe that the Egyptian Stock Exchange (www.egyptse.com) is still alive at a Noor address."
Mobile telephone networks were also severely disrupted in the country on Friday. Phone signals were patchy and text messages inoperative.
British-based Vodafone said all mobile operators in Egypt had been "instructed" Friday to suspend services in some areas amid spiralling unrest, adding that under Egyptian law it was "obliged" to comply with the order.
Egyptian operator ECMS, linked to France's Telecom-Orange, said the authorities had ordered them to shut them off late Thursday.
"We had no warning, it was quite sudden," a spokesman for Telecom-Orange told AFP in France.
The shutdown in Egypt is the most comprehensive official electronic blackout of its kind, experts said.
Links to the web were were cut for only a few days during a wave of protests against Myanmar's ruling military junta in 2007, while demonstrations against the re-election of Iranian president Mahmoud Ahmadinejad in 2009 specifically targeted Twitter and Facebook.
Egypt -- like Tunisia where mass popular unrest drove out Zine El Abidine Ben Ali earlier this month -- is on a list of 13 countries classed as "enemies of the Internet" by media rights group Reporters Without Borders (RSF).
"So far there has been no systematic filtering by Egyptian authorities -- they have completely controlled the whole Internet," said Soazig Dollet, the Middle East and North Africa specialist for RSF.
Condemnation of Egypt's Internet crackdown has been widespread.
Obama and Secretary of State Hillary Clinton called on Cairo to restore the Internet and social networking sites.
Facebook, the world's largest social network with nearly 600 million members, and Twitter also weighed in.
"Although the turmoil in Egypt is a matter for the Egyptian people and their government to resolve, limiting Internet access for millions of people is a matter of concern for the global community," said Andrew Noyes, a Facebook spokesman.
Twitter, which has more than 175 million registered users, said of efforts to block the service in Egypt: "We believe that the open exchange of info & views benefits societies & helps govts better connect w/ their people."
US digital rights groups also criticised the Egyptian government.
"This action is inconsistent with all international human rights norms, and is unprecedented in Internet history," said Leslie Harris, president of the Center for Democracy and Technology in the United States.
4:30 pm : The stock market scored a strong gain and locked in its first positive finish for January since 2007 with help from the energy sector, which climbed sharply in response to a spike in oil prices.
Oil prices extended their recent climb to a two-year high of $92.84 per barrel before they settled with a 3.2% gain at $92.19 per barrel. That price spike pulled buyers into oil and gas equipment stocks (+2.6%), exploration issues (+4.4%), and drillers (+2.4%). In turn, the overall energy sector advanced 2.6%.
Massey Energy (MEE 62.86, +5.63) was a standout in the energy sector. It surged close to 10% in response to news that Alpha Natural Resources (ANR 53.73, -4.15) will acquire MEE for $69.33 per share in a mix of cash and stock. Exxon Mobil (XOM 80.68, +1.69) advanced more than 2%, but more of that is owed to a strong sector performance than the oil giant's upside earnings surprise.
Investor appetite for natural resource plays spread to the basic materials stocks, which collectively climbed 1.6%. Materials made up the second best performing sector of the session.
As a group financials advanced 1.0%, but Deutsche Bank (DB 58.55, -0.35) faltered following an earnings forecast that failed to meet what Wall Street had already projected.
Intel (INTC 21.46, +0.00) finished flat after participants assessed news that the firm discovered a chipset error. Although the error will adversely impact the firm's revenue, it wasn't enough to stop Intel from increasing its overall revenue forecast.
Defensive-oriented issues generally lagged, but consumer staples stocks made up the only major sector that suffered a loss. They fell 0.3%.
While energy plays provided leadership, generally broad market strength helped the S&P 500 settle into a 2.3% monthly gain for January. The benchmark Index hasn't booked a January gain in four years.
Amid an increased appetite for risk, the dollar turned lower in today's trade. By the time of the closing bell, the greenback lagged a collection of competing currencies by 0.5%. Most of its slide came against the British pound and the euro, which was helped by higher eurozone inflation readings. Reduced concern about the likelihood of social unrest in Egypt spilling over into other country's also convinced some to rotate out of the dollar. The dollar's loss today locked it in for a 1.6% monthly loss.
The latest dose of data failed to act as any kind of a catalyst. Personal income for December increased 0.4%, which is slightly less than the 0.5% increase that had been expected. Personal spending during December increased 0.7%, which is greater than the 0.6% increase that had been widely anticipated. However, core personal consumption expenditures were flat when a 0.1% increase had been expected by a broad span of economists.
The Chicago PMI came in at 68.8 for December. That represents its best reading since 1988.
3:30 pm : The CRB Commodity Index climbed 1.8% for its best single-session surge in eight weeks. The move took the CRB to a near 28-month high.
Higher oil prices were a primary catalyst for the CRB's climb. Crude oil contracts closed pit trade with oil priced 3.2% higher at $92.19 per barrel. Before that, prices in the continuous contract were as high as $92.84 per barrel, which makes for a new two-year high.
Natural gas prices gave up a 2% gain, but rebounded to settle the session 2.3% higher at $4.24 per MMBtu.
Precious metals were more mixed. Specifically, gold prices fell 0.5% to $1334.50 per ounce, but silver prices tacked on 0.9% to settle at $28.17 per ounce. DJ30 +37.66 NASDAQ +10.10 SP500 +7.81 NASDAQ Adv/Vol/Dec 1536/1.49 bln/1096 NYSE Adv/Vol/Dec 2058/710 mln/914
3:00 pm : Financials recently pulled back a bit, but they have since recovered to a 0.8% gain. The action comes in the wake of an announcement by Deutsche Bank (DB 58.99, +0.09) that indicated the firm expects fourth quarter income of about 600 million euros on revenue of about 7.4 billion euros. Though the top line figure is greater than what had been expected, many had thought the income figure would be better. A knee-jerk selling response dropped the stock to a two-week low, but it has been quick to rebound.
Following the close, Anadarko Petroleum (APC 76.56, +2.38) and Baidu.com (BIDU 107.87, +1.33) are expected to report their latest earnings results. Tomorrow morning brings the latest from Pfizer (PFE 18.23, +0.08), BP Plc (BP 47.37, +1.16), and UPS (UPS 71.45, +0.72). DJ30 +42.76 NASDAQ +9.38 SP500 +8.15 NASDAQ Adv/Vol/Dec 1467/1.38 bln/1147 NYSE Adv/Vol/Dec 2049/650 mln/889
2:30 pm : Oil prices are up 3.3% to $92.30 per barrel as they round out pit trade. Sharp gains by the commodity have helped support the energy sector. The energy sector continues to sport a gain of more than 2% (2.2% to be exact), which is more than triple the gain of the broad-based S&P 500.
Consumer staples stocks have lagged all session. The sector is currently down 0.3%. Dow component Procter & Gamble (PG 63.37, -0.83) and Clorox (CLX 62.96, -0.83) have been heavy drags on the space. DJ30 +31.34 NASDAQ +10.13 SP500 +7.03 NASDAQ Adv/Vol/Dec 1562/1.25 bln/1054 NYSE Adv/Vol/Dec 2102/584 mln/851
2:00 pm : The S&P 500 continues to trade along the 1285 line. It eased off of its session high as the financial sector started to pullback -- financials are now up 0.8% after they were up more than 1% at their session high.
Regional banks are still among the best performers in the financial sector. Specifically, Wells Fargo (WFC 32.37, +0.53), Regions Financial (RF 7.09, +0.21), and SunTrust (STI 30.27, +0.69) are atop the list of the biggest percentage gainers. DJ30 +44.73 NASDAQ +14.96 SP500 +8.85 NASDAQ Adv/Vol/Dec 1679/1.15 bln/934 NYSE Adv/Vol/Dec 2229/523 mln/714
1:30 pm : Volatility continues to cool since it was stoked in this past Friday's sell-off. In turn, the Volatility Index is down more than 8%. Of course, it still has a long way to go before it can fully offset the 24% spike that it recorded on Friday.
Strength among stocks and reduced volatility has put pressure on Treasuries. In turn, the benchmark 10-year Note is down 18 ticks while the 30-year Bond is down a full point. Both are now near session lows. DJ30 +48.97 NASDAQ +14.80 SP500 +8.98 NASDAQ Adv/Vol/Dec 1615/994 mln/984 NYSE Adv/Vol/Dec 2215/438 mln/720
1:05 pm : The major equity averages have eased off of session highs, but they continue to trade with solid gains. Natural resource plays have been a primary source of support.
Personal income and spending figures for December provided little inspiration to traders before the start of the session; both increased as had been generally expected. The Chicago PMI was posted shortly after the open, but even its surprisingly strong reading failed to provide any kind of catalyst.
Though action lacked direction in the early going, an eventual bid for natural resource issues has helped prop up the broader market.
Energy stocks are up a sharp 2.2%. Given that the sector limited its loss during last Friday's sell-off, its performance this session has the sector at a new two-year high. Energy stocks have been helped by a 2.6% spike in oil prices to $91.70 per barrel.
Massey Energy (MEE 62.73, +5.50) is the sharpest mover in the energy sector following news of its acquisition by Alpha Natural Resources (ANR 53.34, -4.54). Shares of MEE will be acquired with a mix of cash and stock for $69.33 per share, a premium of about 20% over where MEE settled last week. Dow component Exxon Mobil (XOM 80.70, +1.71) is also in strong shape following its upside earnings surprise.
The materials sector's 1.6% gain isn't quite as strong as impressive as what the energy sector has achieved, but the group is still comfortably ahead of the broader market. All 30 members of the materials sector are in higher ground.
A willingness to take on additional risk this session has favored small-cap and mid-cap stocks. In turn, both the Russell 2000 and S&P 400 are up 1.2%.
Rotation away from safe havens has the dollar down 0.6% against a basket of competing currencies. Part of the dollar's decline is owed to a stronger euro, which has been helped by an increase in eurozone inflation. DJ30 +57.26 NASDAQ +15.56 SP500 +10.09 NASDAQ Adv/Vol/Dec 1560/828 mln/1021 NYSE Adv/Vol/Dec 2202/368 mln/716
12:30 pm : A recent flurry of buying helped stocks move another leg higher so that all three of the major equity averages are now at their best levels of the day. Buying has been even more pronounced among small-cap stocks and mid-cap stocks, which are up 1.2% and 1.3%, respectively.
Commodities have also extended their climb. In turn, the CRB Commodity Index is now up 1.2%. Most of that is owed to a rally in oil prices, which are now up 2.1% to $91.20 per barrel after a relatively choppy start to pit trade. Natural gas has pulled back, though; it had been up more than 2% this morning, but it now trades with a relatively tame 0.3% gain at $4.34 per MMBtu. DJ30 +59.83 NASDAQ +18.23 SP500 +10.46 NASDAQ Adv/Vol/Dec 1416/757 mln/1128 NYSE Adv/Vol/Dec 2100/339 mln/793
12:00 pm : The stock market is stuck in a tight trading range near the 1282 to 1283 zone. It has been there for about an hour.
While the broader market is mired at a near-term point of resistance, the energy sector has climbed to an impressive gain of 1.7%. Given that energy stocks were able to limit their move lower during last Friday's sell-off, the energy sector's advance this session has the sector at a new two-year high. The S&P 500 energy sector now trades with a price-to-trailing earnings multiple of 15.8, which is greater than the monthly average over the past five years of 12.1x trailing earnings. The energy sector's forward P/E currently stands at 12.9. DJ30 +34.74 NASDAQ +8.22 SP500 +7.01 NASDAQ Adv/Vol/Dec 2094/285 mln/766 NYSE Adv/Vol/Dec 1333/640 mln/1155
11:30 am : The broad market has been unable to extend its recent climb. It now sits near its session high.
The dollar has pulled off of its session low so that it now trails a collection of competing currencies by 0.6%. The euro is still up 0.6% against the greenback, but currency traders have really started to pile into the pound, which is now up 1.0% relative to the dollar.
Although the dollar is now slightly off of its session low, its general weakness has helped prop up commodities, such that the CRB Commodity Index is now at a session high with a 0.7% gain. DJ30 +25.40 NASDAQ +6.01 SP500 +5.84 NASDAQ Adv/Vol/Dec 1187/496 mln/1239 NYSE Adv/Vol/Dec 1916/223 mln/894
11:00 am : The stock market has recovered from its morning stumble so that it now trades at a session high. Natural resource plays continue to provide leadership -- energy stocks are up 1.5% with Exxon Mobil (XOM 79.94, +0.95) in strong shape following its upside earnings surprise and Masey Energy (MEE 63.23, +6.00) up sharply following news of its acquisition by Alpha Natural Resources (ANR 53.89, -3.99). Meanwhile, materials stocks are sporting a collective 1.4% gain with help from U.S. Steel (X 57.44, +1.64), which has rebounded sharply from a precipitous drop this past Friday.DJ30 +34.33 NASDAQ +2.81 SP500 +5.93 NASDAQ Adv/Vol/Dec 1054/263 mln/1260 NYSE Adv/Vol/Dec 1747/134 mln/979
10:35 am : The dollar index fell into negative territory overnight and continued on its downtrend through morning trade. It hit session lows of 77.659 a couple of hours ago and has been trading just above that level since. However, this weakness only benefitted select commodities.
Energy markets remain mixed with natural gas, heating oil trading and crude oil higher, while RBOB gasoline is lower. March crude oil fell back into negative territory just over an hour ago, falling over $1 per barrel and hitting new session lows of $88.40 per barrel. It has since recovered and is 0.2% higher at $89.54 per barrel.
March natural gas picked up steam around 6:00am ET and rallied more than 3% before hitting new session highs of $4.46 per MMBtu a few hours later. Since then, the energy component has remained just below those highs and is now 2.5% higher at $4.43 per MMBtu.
Despite today's weakness in the dollar index, gold has been in the red all session. The February gold contract hit session lows of $1323.30 per ounce and is currently 0.8% lower at $1330.40 per ounce. March silver moved back in to positive territory in recent trade and is now up 02% at $27.99 per ounce.
March cotton futures was limit-up (+4 cents) overnight and is now +3.65 cents (or 2.2%) at $1.6840 as strong China demand continues to keep prices strong.DJ30 +15.82 NASDAQ -1.07 SP500 +4.01 NASDAQ Adv/Vol/Dec 1077/405.2/1315 NYSE Adv/Vol/Dec 1799/194.8 mln/951
10:00 am : Broad market trade continues to lack direction. Despite the erratic start, the Volatility Index is down 3%.
Intel (INTC 21.49, +0.03) shares have been halted. The company has come out announce that it has identified a chipset design error. The news has sent shares of Advanced Micro Devices (AMD 7.80, +0.31) to a morning high.
09:45 am : A slip at the start of the session slowed amid the release of a strong Chicago PMI reading, which came in at 68.8 for December after it was revised downward to 66.8 for the prior month, but early trade remains choppy.
Materials stocks have attracted a strong bid, however. That sector is up 1.0% amid strength in steel stocks and other assorted metals plays. Energy stocks aren't far behind; they are collectively up 0.8%.
Tech stocks and consumer staples stocks are under the most pressure at the moment. Both sectors are down almost 0.3%. DJ30 +5.91 NASDAQ -2.98 SP500 +3.02 NASDAQ Adv/Dec 1231/1022 NYSE Adv/Dec 1866/809
09:15 am : S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +7.70. Stock futures suggest that a solid start to the final session of January is in order. The S&P 500 hasn't scored a monthly gain for January since 2007, but as things currently stand the S&P 500 is up 1.5% this month. Of course, Friday's 1.8% drop has taken away from the stock market's monthly performance. Premarket participants appear willing to step back in with a supportive bid, though. Rekindled interest in stocks has been helped by partially calmed concerns about the implications of social unrest in Egypt, which had its credit rating cut by analysts at Moody's. Rotation out of the dollar has caused the greenback to slide 0.5% against a basket of competing currencies. The dollar's decline has primarily come against the euro, which has been helped by news of a pick up in inflation during December. Domestic data has been of little consequence, so far; personal income and spending figures for December were generally in stride with what had been expected. The Chicago PMI is on its way, though; it will be posted at 9:45 AM ET. The flow of earnings has slowed this morning, but there have been a few notable names out ahead of the open. Among them, Dow component Exxon Mobil (XOM) posted an upside earnings surprise. Illinois Tool (ITW) missed the consensus earnings estimate, but issued a strong forecast for the current quarter. In merger and acquisition activity, Massey Energy (MEE) will be acquired with a mixe of cash and stock by Alpha Natural Resources (ANR) for $69.33 per share, a premium of about 20% over where MEE settled last week.
09:00 am : S&P futures vs fair value: +4.90. Nasdaq futures vs fair value: +7.90. Futures for the S&P 500 are still in solid shape. As for action abroad, Germany's DAX is now flat after it had been down 1% at its session low. Thyssenkrupp and Linde AG have been leaders, but automakers Daimler (DAI) and BMW have hampered action. Germany's retail sales for slipped 0.3% compared to the 1.9% drop posted for the prior month. France's CAC has climbed from a 1.2% loss to a 0.3% gain amid leadership from energy giant Total (TOT). Carrefour and BNP Paribas have chipped in to provide support of their own. Societe Generale has dragged on trade, though. Britian's FTSE is now near the flat line after it was down as much as 1.1%. Declining issues still outnumber advancers by more than 2-to-1 there. However, natural resource plays BG Group, Royal Dutch Shell (RDS.A), BP Plc (BP) and Xstrata (XTA) have been primary drivers in the broader market's rebound. GlaxoSmithKline (GSK) continues to come under pressure, but it has found support near last week's low. Broad data indicate that eurozone CPI for January increased 2.4%, which is sharper than the 2.2% increase that had been posted for the prior month. That has helped lift the euro, which is up 0.7% to $1.371. Part of the euro's strength is attributable to a rotation out of safe havens like the U.S. dollar amid cooled concerns about the possibility of unrest in Egypt spilling over into other countries.
As for overnight action in Asia, Japan's Nikkei dropped to a 1.2% loss. It was led lower by a broad basket of stocks, but TDK Corp, Softbank, and Honda Motor (HMC) were the heaviest drags. Honda Motor reported this morning its latest quarterly resuls, which were a bit mixed. As for data, preliminary industrial production data for December point to a 3.1% increase in production after a 1.0% increase in the prior month. December construction orders spiked 13.1% after a 5.3% drop in November. Mainland China's Shanghai Composite climbed 1.4%. PetroChina (PTR), China Petroleum (SNP), and Industrial & Commercial Bank were primary leaders. Bank of China was a notable laggard, though. Hong Kong's Hang Seng shed 0.7%. PetroChina and China Petroleum also provided positive support there, but their strength was more than offset by broader weakness. HSBC (HBC) was the heaviest drag as it dropped 1.6% to a near three-week low.
08:35 am : [BRIEFING.COM] S&P futures vs fair value: +4.40. Nasdaq futures vs fair value: +6.70. No real reaction has been made to the latest dose of data, so stock futures continue to trade with a nice lead over fair value. Personal income increased 0.4% during December. It had been expected, on average, to increase a tad more at 0.5%. As for personal spending during December, it increased 0.7%, which is greater than the 0.6% increase that had been widely expected. Core personal consumption expenditures for December were flat relative to the prior month. A slight increase of 0.1% had been expected by a broad span of economists.
08:00 am : S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.40. Stocks fell sharply in last week's final session, but an improved mood among morning traders has helped to prop up stock futures in the face of ongoing unrest in Egypt. Perceived political risk in Egypt prompted analysts at Moody's cut the country's debt rating to Ba2 from Ba1. Egypt's EGX 30 remained closed on Monday due to chaotic conditions there; it hasn't been opened since last Thursday, when it plummeted more than 10%. As for overnight action in Asia, Japan's Nikkei fell more than 1% while China's Shanghai Composite climbed more than 1%. Europe's major bourses are currently down modestly. There hasn't been much in the way of earnings so far this morning, but personal income and spending data for December are due at the bottom of the hour. Shortly after the open, the Chicago PMI for January will be posted at 9:45 AM ET. http://finance.yahoo.com/marketupdate/update
6:53PM Kilroy Realty beats by $0.01, beats on revs (KRC) 38.14 +0.59 : Reports Q4 (Dec) funds from operations of $0.54 per share, $0.01 better than the Thomson Reuters consensus of $0.53; revenues rose 23.0% year/year to $82.9 mln vs the $79.1 mln consensus.
6:31PM Fifth Street Finance reports Q4 in-line (FSC) 13.18 +0.16 : Reports Q4 (Dec) earnings of $0.26 per share, in-line with the Thomson Reuters consensus of $0.26.
6:10PM Silicon Motion beats by $0.09, beats on revs; guides Q1 revs above consensus; guides FY11 revs above consensus (SIMO) 5.56 +0.26 : Reports Q4 (Dec) earnings of $0.18 per share, excluding non-recurring items, $0.09 better than the Thomson Reuters consensus of $0.09; revenues rose 77.8% year/year to $40 mln vs the $34.5 mln consensus. Co issues upside guidance for Q1, sees Q1 revs flat to down 10% sequentially, which calculates to ~$36-40 mln vs. $31.33 mln Thomson Reuters consensus. Co issues upside guidance for FY11, sees FY11 revs growth of 20-30%, which calculates to ~$158.9-172.1 mln vs. $142.60 mln Thomson Reuters consensus.
6:05PM Volcano: Massachusetts Court rules in Favor of Volcano and against St. Jude Medical Subsidiary in trade secrets case (VOLC) 26.26 -0.52 : Co said today that the Superior Court of Massachusetts has issued a decision that ruled in favor of Volcano and its wholly-owned subsidiary Axsun Technologies, Inc., and against LightLab Imaging, Inc., on all of LightLab's remaining claims for trade secret misappropriation. The 11-page decision also rejected LightLab's request for injunctive relief.
6:04PM GCA announces significant new contracts (GCA) 3.05 -0.03 : Co announced that it has renewed cash access agreements with several of its longstanding and significant customers and also entered into agreements with several new casino properties. Renewals with US Gaming Operators and New Business GCA has entered into agreements with some of the largest casino operators in the U.S. for the provision of its core ATM, credit and debit card cash access services, including QuikCash Plus, electronic deposit, and GCA's patented 3-in-1 rollover technology, as well as its QuikCash Kiosks, CasinoXchange redemption kiosks and Central Credit services.
6:03PM Expedia signs strategic partnership agreement with WestJet (EXPE) 25.16 +0.18 : Co announced a multi-year strategic distribution agreement with WestJet (TSX: WJA). Under the renewed agreement, WestJet's full schedule of fares and inventory will continue to be made available to the millions of consumers who book their travel each month on Expedia, Egencia and Hotwire sites in the United States and Canada.
5:58PM SM Energy Prices $350 mln private offering of senior unsecured notes (SM) 62.16 +3.35 : Co announces that it has priced a private offering of $350 mln of 6.625% senior unsecured notes due 2019. The Co increased the size of the offering from the previously announced $250 mln to $350 mln. These senior notes will be issued at par. The offering is expected to close on February 7, 2011, subject to customary closing conditions.
5:56PM Alaska Airlines' Clerical, Office and Passenger Service Employees Ratify Three-Year Contract (ALK) 59.24 -0.48 : Alaska Airlines announced that the carrier's 2,600 clerical, office and passenger service employees have ratified a new three-year contract by more than 90 percent of union members who voted. The new contract with the International Association of Machinists and Aerospace Workers includes wage increases, a signing bonus, job security protections, improved productivity measures, and participation in Alaska Airlines' Performance-Based Pay annual incentive plan.
5:54PM Phoenix Footwear Group shareholders authorize reverse/forward stock split (PXG) 0.32 +0.06 : Co announced that at a special meeting on January 28, 2011 (the "Special Meeting"), the shareholders approved a 1-for-200 reverse stock split (the "Reverse Stock Split") of the Company's common stock, to be immediately followed by a 200-for-1 forward stock split of the common stock (the "Forward Stock Split" and together with the Reverse Stock Split, the "Reverse/Forward Stock Split"). As a result, registered shareholders owning fewer than 200 shares of common stock of record prior to the Reverse Stock Split will have such pre-split shares cancelled and converted into the right to receive cash consideration of $0.75 per pre-split share. The Reverse/Forward Stock Split will be effective following the close of business on January 31, 2011.
5:51PM Cumulus Media enters into agreement to acquire Cumulus Media Partners, LLC (CMLS) 3.82 +0.02 : Co announced that it has signed a definitive agreement to acquire the remaining equity interests of Cumulus Media Partners, LLC ("CMP") that it does not currently own. CMP owns 32 radio stations in nine markets, including San Francisco, Dallas, Houston, Atlanta, Cincinnati, Indianapolis and Kansas City. CMI has operated CMP's business pursuant to a management agreement since CMP was formed in 2006. (Stock is halted)
5:42PM Sealed Air reported that the Bankruptcy Court in the W. R. Grace bankruptcy entered its recommended findings and order on January 31, 2011, recommending confirmation of Grace's plan of reorganization (SEE) 26.69 +0.05 : Co said the bankruptcy process now proceeds to a review period in which the recommended order and findings may be challenged and appealed and during which several conditions must be satisfied before W. R. Grace's plan of reorganization may become effective.
5:31PM Quest Diagnostics raises 2011 EPS guidance to $4.25-4.45, excl items, vs. $4.28 Thomson Reuters consensus, up from $4.10-4.30 following news that DGX will repurchase 15.4 mln shares from its largest shareholder, GSK (DGX) 56.95 -0.41 : Co raises 2011 earnings guidance; co announced that it had agreed to repurchase at a negotiated price 15.4 million shares of its common stock from its largest shareholder, an affiliate of GlaxoSmithKline plc (GSK). Subsequent to the transaction, GSK will no longer hold any shares of common stock of Quest Diagnostics. Co continues to maintain the financial flexibility to pursue acquisitions, which remains a key element of its growth strategy. Quest Diagnostics will repurchase the shares using a combination of cash on hand and borrowing through available credit facilities. The repurchase will be applied against the co's current $1 bln share repurchase authorization.
5:29PM Quest Diagnostics announces offering of common stock by the Co's largest stockholder of 15.4 mln shares (DGX) : Co announced the underwritten public offering of 15,377,600 shares of Quest Diagnostics common stock held by its largest stockholder, SB Holdings Capital Inc., an affiliate of GlaxoSmithKline plc ("GSK"). After giving effect to the proposed offering and the coy's repurchase from GSK of 15,377,551 shares of Quest Diagnostics common stock also announced today, it is expected that GSK will no longer hold any shares of common stock of Quest Diagnostics. Quest Diagnostics will not sell any shares of common stock in the offering and will not receive any of the proceeds from the sale of shares in the offering. Quest Diagnostics will pay all expenses associated with the offering, other than underwriting discounts and commissions. To facilitate the offering, the company filed with the U.S. Securities and Exchange Commission a post-effective amendment to its existing registration statement.
5:28PM Noble Corp prices offering of senior notes (NE) 38.25 +0.91 : Co announced that its indirect wholly-owned subsidiary, Noble Holding International Limited ("NHIL"), has priced an offering of $1.1 bln aggregate principal amount of senior notes in three separate tranches, with $300 mln of 3.05% senior notes due 2016, $400 mln of 4.625% senior notes due 2021, and $400 mln of 6.05% senior notes due 2041. The weighted average coupon of all three tranches is 4.71%. Noble Corp, a Cayman Islands co and a direct wholly-owned subsidiary of Noble, will fully and unconditionally guarantee the notes on a senior unsecured basis. Barclays Capital Inc., Wells Fargo Securities, LLC and SunTrust Robinson Humphrey, Inc. are acting as the book-running managers. HSBC Securities (USA) Inc., Goldman, Sachs & Co., Mitsubishi UFJ Securities (USA), Inc., BNP Paribas Securities Corp., DnB NOR Markets, Inc. and Citigroup Global Markets Inc. are serving as co-managers.
5:23PM Corning Incorporated to acquire MobileAccess (GLW) 22.21 +0.41 : Co announced that it has signed an agreement to acquire MobileAccess, a leading provider of wireless network solutions. The terms of the agreement are not being disclosed. Pending regulatory approval, the acquisition is expected to be completed by the end of the first quarter in 2011.
5:23PM DayStar Technologies registers to sell 1,400,584 shares of common stock for shareholders (DSTI) 1.52 -0.05 :
5:20PM Lannett announced the promotion of William F. Schreck to chief operating officer, effective immediately (LCI) 5.23 -0.13 : Schreck has held a number of senior management positions, most recently as senior vice president and general manager. Previously, he served as the company's vice president of logistics and before that as materials manager.
5:17PM Eastman Chem misses by $0.08, misses on revs; guides Q1 EPS above consensus (EMN) 92.86 +1.01 : Reports Q4 (Dec) earnings of $1.41 per share, excluding non-recurring items, $0.08 worse than the Thomson Reuters consensus of $1.49; revenues rose 23.4% year/year to $1.46 bln vs the $1.49 bln consensus. Co expects earnings per share from continuing operations in 2011 to be slightly more than 10% above 2010 earnings from continuing operations. Co issues upside guidance for Q1, sees EPS of $1.75-1.85 vs. $1.67 Thomson Reuters consensus.
5:05PM Curtiss-Wright to acquire BASF's surface technologies business (CW) 34.70 -0.16 : Co announced that through its Metal Treatment segment, it has signed a definitive purchase agreement to acquire the assets of BASF's Surface Technologies business from BASF Corporation. The Surface Technologies business is a leading supplier of metallic and ceramic thermal spray coatings primarily for the aerospace and power generation markets. BASF's Surface Technologies business generated sales of ~$29 mln in 2010 and has ~150 employees at its three operating facilities located in East Windsor, CT, Wilmington, MA and Duncan, SC. The transaction is expected to close within ninety days from signing.
5:04PM Olin reports Q4 earnings, beats on revs; guides Q1 EPS below consensus (OLN) 23.96 -0.08 : Reports Q4 (Dec) earnings of $0.02 per share, which includes a previously announced pretax restructuring charge of $34.2 million, may not compare to the Thomson Reuters consensus of $0.05; revenues rose 9.8% year/year to $385.4 mln vs the $362.5 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.20-$0.25 vs. $0.26 Thomson Reuters consensus.
5:04PM Longtop Financial beats by $0.04, beats on revs; guides Q4 revs above consensus; raises FY11 revs above consensus (LFT) 32.90 -0.06 : Reports Q3 (Dec) earnings of $0.61 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.57. Co issues upside guidance for Q4, sees Q4 revs of $62.7 mln vs. $59.45 mln Thomson Reuters consensus. Co raises guidance for FY11, sees FY11 revs of $249.0 mln vs. $241.00 mln Thomson Reuters consensus, up from $242.5 mln.
5:04PM Penn Va GP Hldgs and Penn Virginia Resource (PVR) announce that ISS recommends PVR and PVG Unitholders Vote for PVG's merger with PVR (PVG) 26.24 +0.13 :
5:02PM Republic Airways amends Delta (DAL) agreement to add eight E170 Aircraft (RJET) 6.42 +0.14 : The co has amended its capacity purchase agreement with Delta Air Lines to provide for the addition of eight dual-class E170 aircraft. The aircraft are expected to be placed into Delta Connection service between May and September 2011 and will have a term of six years from the in-service date for Delta. After the addition of these aircraft, the Company and its subsidiaries will operate a total of 48 aircraft on behalf of Delta: 16 E175s, 8 E170s, and 24 E145s.
5:01PM Graco beats by $0.03, beats on revs (GGG) 42.48 +0.33 : Reports Q4 (Dec) earnings of $0.44 per share, $0.03 better than the Thomson Reuters consensus of $0.41; revenues rose 34.9% year/year to $197.3 mln vs the $181.6 mln consensus. "We expect to build on momentum created in 2010... In 2011, we intend to expand our capital resources, make additional share repurchases and continue to evaluate acquisition prospects. We will continue to pursue our growth strategies including product development, international expansion, entering new markets and strategic acquisitions."
5:01PM WGL Holdings unit filed application with the Virginia State Corporation Commission to increase its rates and charges (WGL) 36.06 +0.01 :
4:55PM Cumulus Media halted, news pending (CMLS) 3.82 +0.02 :
4:49PM Streamline Health appoints Robert Watson as President and Chief Executive Officer (STRM) 1.86 +0.01 : Co announced today that Robert Watson has been appointed President and Chief Executive Officer effective February 1, 2011. J. Brian Patsy, founder of Streamline Health Solutions, and current President and Chief Executive Officer since its inception, has retired at the request of the Board of Directors from both positions and has also resigned as a director of the Company.
4:45PM Flow announced that Jerry Calhoun has been appointed Chairman of the Board, replacing Kathryn Munro, whose final term as director expires in Sept 2011 (FLOW) 3.75 +0.03 :
4:35PM Fifth Street Finance commences 10 mln share common stock offering (FSC) 13.18 +0.16 : Wells Fargo Securities, Morgan Stanley, UBS Investment Bank, Deutsche Bank Securities and RBC Capital Markets will act as joint book-running managers for the offering. Fifth Street intends to use the net proceeds from this offering to make investments in small and mid-sized companies in accordance with its investment objective and strategies described in the prospectus supplement and accompanying prospectus and for general corporate purposes. Fifth Street may also use a portion of the net proceeds from this offering to repay its outstanding indebtedness.
4:34PM Baidu.com beats by $0.04, beats on revs; guides Q1 revs above consensus (BIDU) 108.63 +0.09 : Reports Q4 (Dec) earnings of $0.50 per share, $0.04 better than the Thomson Reuters consensus of $0.46; revenues rose 94.4% year/year to $371.3 mln vs the $361 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $360.6-371.2 mln vs. $354.15 mln Thomson Reuters consensus.
4:33PM Bioscrip provides update on strategic assessment to improve financial and operational performance (BIOS) 5.18 +0.07 : Co provides an update of its ongoing strategic assessment and the execution of its plan. Co is in the process of implementing a two-phased initiative, to include reducing costs and streamlining operations, and to focus the strategic direction of BioScrip on its high-margin businesses. Co is taking steps towards improving its financial and operational performance. Co has initially identified cost reduction programs that will generate ~$15 million in annualized savings. Many of the cost savings programs will be implemented during the first half of 2011, with the balance to be completed by year-end and fully realized in 2012. Savings are expected to come from a number of areas, including corporate overhead, restructuring of the employee benefits program, and reduction of drug and non-drug spend.
4:33PM Array Biopharma beats by $0.05, reports revs in-line (ARRY) 2.90 -0.00 : Reports Q4 (Dec) loss of $0.23 per share, $0.05 better than the Thomson Reuters consensus of ($0.28); revenues rose 71.9% year/year to $16.5 mln vs the $16.4 mln consensus.
4:31PM Anadarko Petro beats by $0.06, misses on revs (APC) 77.08 +2.90 : Reports Q4 (Dec) earnings of $0.29 per share, excluding $0.07 in non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.23; revenues rose 11.3% year/year to $2.69 bln vs the $2.75 bln consensus. Anadarko added 359 million BOE of proved reserves in 2010, including 29 million BOE from price revisions, and incurred costs of ~$5.036 billion associated with its oil and natural gas exploration and development activities. Co added 359 million barrels of oil equivalent (BOE) of proved reserves, which equates to replacing 153 percent of production; co reports continued offshore exploration success with an ~60% discovery rate.
4:30PM Bioscrip appoints Mary Jane interim CFO, effective immediately; David Froesel resigns as CFO and Treasurer (BIOS) 5.18 +0.07 : Co announces that Mary Jane Graves, former Chief Financial Officer of Critical Homecare Solutions, which was acquired by co in 2010, has been appointed Interim CFO by co's Board of Directors, effective immediately. David W. Froesel, Jr. has resigned as Executive Vice President, Chief Financial Officer and Treasurer.
4:26PM Hovnanian Entrpr announces commencement of registered underwritten public offerings of Class A Common Stock, tangible equity units and senior unsecured notes (HOV) 4.43 -0.13 : Co announces commencement of registered underwritten public offerings of Class A Common Stock, tangible equity units and senior unsecured notes. The offerings are anticipated to consist of the issuance of $50 million of its Class A Common Stock, 3,000,000 tangible equity units, each with a stated amount of $25 and comprised of a prepaid stock purchase contract issued by the co and a senior subordinated amortizing note due 2014 issued by K. Hovnanian Enterprises, its wholly-owned subsidiary, and $150 million aggregate principal amount of senior unsecured notes. J.P. Morgan, Credit Suisse, BofA Merrill Lynch and Citi are serving as the joint book-running managers for the Class A Common Stock offering and Wells Fargo Securities is serving as co-manager. Co intend to use the net proceeds of the offerings to fund the purchase of K. Hovnanian's 8% Senior Notes due 2012, 87/8% Senior Subordinated Notes due 2012 and 7?% Senior Subordinated Notes due 2013
4:25PM Qiagen beats by $0.01, misses on revs; 2011 revs are expected to rise ~5-7% CER; sees EPS growth at ~7-13% CER (QGEN) 18.45 +0.32 : Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.25; revenues fell 1.1% year/year to $286 mln vs the $292.3 mln consensus. QGEN aims to expand faster than its markets in 2011, delivering earnings growth at a faster pace than net sales. Co issues guidance; Full-year net sales are expected to rise ~5-7% CER, reflecting organic growth and no meaningful contributions from acquisitions completed in 2010. Adjusted EPS are expected to grow ~7-13% CER. Results are expected to be soft in Q1 of 2011, but to move toward substantially higher growth rates later in the year, driven by a combination of increased sales volumes and new product launches. These expectations do not take into account any acquisitions that could be completed during the year and an improving economic environment, which could provide additional growth contributions.
4:22PM Southern Co's Georgia Power recently acquired series of solar projects of up to 1 MW in Murray County (SO) 37.62 -0.15 : Georgia Power will sell the output from the facility to Dalton Utilities. The plant will be constructed on Looper Bridge Road in Dalton by United Renewable Energy and will be owned and operated by Georgia Power. Under the terms of the deal, Georgia Power will lease property for the solar facility from Dalton Utilities, which will purchase 100 percent of the plant's capacity and energy through a 25-year power purchase agreement.
4:20PM Lincoln Electric has acquired substantially all of the assets of Arc Products; terms were not disclosed (LECO) 67.72 +1.53 : Arc Products has annual sales of ~$5 mln and employs over 40 people.
4:18PM Krispy Kreme completes refinancing of secured credit facilities (KKD) 6.55 +0.16 : Co has closed a new secured credit facility aggregating $60 mln. Proceeds of the term loan were used to repay the ~$35 mln outstanding balance under prior credit facility, which has been terminated. The revolving credit facility is intended to be used to support outstanding letters of credit, which currently total ~$12.5 mln, with the balance available for working capital and other general corporate needs, if any. Co will record a pretax charge of ~$1.4 mln in the fourth quarter of fiscal 2011, ended January 30, 2011, representing the write-off of unamortized deferred financing costs related to the prior facility.
4:16PM Enbridge to undertake $150 mln expansion of U.S. Gulf Coast Facility (ENB) 57.86 +0.47 : Co announced that it plans to expand the condensate processing capacity of its Venice, Louisiana facility. The estimated cost of the expansion is ~$150 mln and is expected to be in service in late 2013.
4:16PM Tengasco announces that it has begun drilling a series of ten wells planned for the first quarter of 2011 on its properties in Kansas targeting oil (TGC) 0.89 : Co announces that it has begun drilling a series of ten wells planned for the first quarter of 2011 on its properties in Kansas targeting oil. A drilling contractor has agreed to drill the ten additional wells in succession for the Company. The ten wells planned are in addition to the two wells that the Company began drilling in Kansas in late 2010. The Company also announced that it recently filed amendments to its Form 10-K for the year ended December 31, 2009 to provide additional disclosure to a small number of specific items, primarily related to the reserve information included in the original filing.
4:15PM Cardero Resource announces positive final drill results from its 2010 drill program at the Titac Ferro-Titanium project; confirms presence of semi-massive to massive iron and titanium oxide and associated copper mineralization (CDY) 1.76 -0.06 : Co announces intersection of additional massive iron - titanium - copper mineralization at Titac project, Northern Minnesota, USA: Hole-019: 462.1 metres grading 20.1% TiO2, 33.2% Fe2O3 and 0.4% Cu... Hole-029: 247.2 metres grading 17.5% TiO2, 33.6% Fe2O3 and 0.15% Cu Provides Update on Organullo Drill Program, Northwest Argentina.
4:13PM Rent-A-Center beats by $0.03, reports revs in-line; guides Q1 revs above consensus; raises FY11 revs above consensus (RCII) 29.74 -0.17 : Reports Q4 (Dec) earnings of $0.71 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.68; revenues rose 0.6% year/year to $677.1 mln vs the $678.3 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $745-765 mln vs. $734.69 mln Thomson Reuters consensus. Co raises guidance for FY11, sees FY11 revs of $2.87-2.93 bln vs. $2.85 bln Thomson Reuters consensus, up from $2.81-2.87 bln.
4:12PM Integra Bank comments on Q4 results; co reported a net loss for the fourth quarter of 2010 of $35.4 mln (IBNK) 0.75 -0.03 : Co commented today on the financial results for the fourth quarter of 2010 reflected in Integra Bank's Call Report that was filed with the FDIC on January 30, 2011. The fourth quarter 2010 financial results for the parent company have not yet been finalized. Accordingly, the discussion below relates solely to the preliminary results of Integra Bank, as reflected in its call report. Final 2010 results for the Company are anticipated to be reported on or before March 31, when it will issue its Annual Report on Form 10-K for the year ended December 31, 2010. Integra Bank reported a net loss for the fourth quarter of 2010 of $35.4 million.
4:12PM Onyx Pharma receives fast track designation for Carfilzomib; initiates rolling NDA submission for accelerated approval (ONXX) 35.28 +0.77 : Co announced today that the U.S. Food and Drug Administration (FDA) has granted fast track designation for carfilzomib, a next generation proteasome inhibitor for the potential treatment of patients with relapsed and refractory multiple myeloma. Positive complete results from the Phase 2b 003-A1 study evaluating single-agent carfilzomib in patients with relapsed and refractory multiple myeloma were recently announced at the American Society of Hematology (ASH) meeting in December 2010. Based on these results, Onyx has initiated a rolling submission of a New Drug Application (NDA) for potential accelerated approval of carfilzomib in the U.S. Through the Fast Track designation, Onyx is eligible to submit the carfilzomib NDA on a rolling basis, allowing Onyx to begin the NDA filing process immediately and giving the FDA an opportunity to review the completed sections of the registration application. Onyx has now submitted the non-clinical section of the carfilzomib NDA with the FDA and commenced its rolling NDA process. Onyx intends to complete its submission of the NDA for potential accelerated approval of carfilzomib in the U.S. as early as mid-2011.
4:11PM Jacksonville Bancorp expects to report a 2010 net loss of ~$12-$14 mln (JAXB) 6.75 -0.20 : Co is in the process of selling substandard assets through short sales, the sale of other real estate owned and loans marketed through a bulk sale. Primarily as a result of the costs associated with the disposition of the substandard assets, coupled with merger related expenses and the integration costs associated with the merging of the two banks, the Company expects to report a net loss.
4:09PM Telvent acquires an additional stake and makes additional investment in Telvent DMS (TLVT) 28.74 +0.43 : Co announces it has entered into an agreement to acquire an additional stake and make an additional investment in Telvent DMS. The transaction also includes acquisition of energy management systems applications and a new three year R&D plan which will enhance and extend its presence in global utility smart grid infrastructure investments. Telvent will increase its stake in Telvent DMS to 57%. Terms were not disclosed.
4:09PM Fabrinet beats by $0.02, beats on revs; provides upside Q3 EPS and revenue guidance (FN) 23.96 -0.08 : Reports Q2 (Dec) earnings of $0.46 per share, $0.02 better than the Thomson Reuters consensus of $0.44; revenues rose 61.4% year/year to $184.6 mln vs the $174.4 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.47-$0.49 vs. Thomson Reuters consensus of $0.45; sees revs of $182-$187 vs. $176.6 mln consensus.
4:08PM Novellus beats by $0.09, beats on revs (NVLS) 36.07 +0.29 : Reports Q4 (Dec) earnings of $1.03 per share, excluding non-recurring items, $0.09 better than the Thomson Reuters consensus of $0.94; revenues rose 57.4% year/year to $384.4 mln vs the $377.8 mln consensus.
4:07PM KBR Inc. has been selected by AGL Energy Limited to provide project management services for the design and construction of the 140-turbine Macarthur Wind Farm (KBR) 32.11 +0.45 :
4:07PM King Pharma announces offer to purchase any and all of its outstanding 1 1/4% convertible senior notes due 2026 through a tender offer (KG) 14.24 +0.02 : Co announced that it has commenced a tender offer to repurchase, at the option of each holder, any and all of its outstanding 1 1/4% Convertible Senior Notes Due 2026. Co is offering to repurchase any and all of the $400,000,000 aggregate principal amount of the Convertible Notes outstanding, at par plus accrued and unpaid interest to, but excluding, the purchase date.
4:06PM PartnerRe announces that its loss estimate for the flooding in Australia that occurred in December 2010 is expected to be between $25-$35 mln, pre-tax (PRE) 81.86 +0.44 : Co announces that its loss estimate for the flooding in Australia that occurred in December 2010 is expected to be between $25-$35 million, pre-tax. Co will record the charge for this event in its fourth quarter 2010 results and losses are expected to be contained within the Company's Catastrophe, Global (Non-U.S.) Property and Casualty and Global (Non-U.S.) Specialty sub-segments. In addition, as a result of the significant number of losses that occurred in Australia and New Zealand during 2010, co also expects that an aggregate cover it wrote will incur a charge of $45 million, pre-tax, which will be recorded in its fourth quarter 2010 results. This loss will be recorded within the co's Catastrophe sub-segment.
4:06PM Danaos announces on Jan 26, it took delivery of one newly built containership, the Hanjin Algeciras, expanding its operational fleet to a total of 51 containerships aggregating 223,329 TEU (DAC) 4.51 +0.10 :
4:05PM Jones Soda announces $2.3 mln financing at ~$1.41/share; (JSDA) 1.40 -0.02 : Co announced that on or about February 1, 2011, it expects to close the sale of 1,596,773 shares of its common stock to Glengrove Small Cap Value, for gross proceeds of ~$2.3 mln, or ~$1.41 per share. Jones Soda intends to use the net proceeds from the planned sale for targeted funding of new marketing programs, to secure and grow larger distributor and national retail accounts, and for working capital and other general corporate purposes.
4:05PM Hologic beats by $0.02, beats on revs; guides Q2 revs in-line; reaffirms prior FY11 guidance (HOLX) 19.92 +0.00 : Reports Q1 (Dec) earnings of $0.30 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.28; revenues rose 4.9% year/year to $432.6 mln vs the $427.4 mln consensus. Co issues in-line guidance for Q2 (Mar), sees Q2 revs to be flat with Q1, so $432.6 mln is inline with the $432.7 mln Thomson Reuters consensus. Co reaffirms prior guidance for FY11, sees EPS of $1.22-1.24, excluding non-recurring items, vs. $1.22 Thomson Reuters consensus; sees FY11 revs of $1.73-1.76 bln vs. $1.75 bln Thomson Reuters consensus.
4:04PM Cavium Networks beats by $0.02, beats on revs (CAVM) 39.54 -0.11 : Reports Q4 (Dec) earnings of $0.29 per share, $0.02 better than the Thomson Reuters consensus of $0.27; revenues rose 86.3% year/year to $59.8 mln vs the $59.1 mln consensus. Gross margins, on a non-GAAP basis, were 65.2% in Q45 vs. 64.3% consensus, and compared to 65.1% in the third quarter of 2010. Operating margins (non-GAAP income from operations as a percentage of revenue), on a non-GAAP basis, were 25.7% in the fourth quarter of 2010 compared to 23.9% in the third quarter of 2010.
4:04PM Cavium Networks appoints Pajiv Khemani as Chief Operating Officer, effective immediately (CAVM) 39.54 -0.11 : Co announces the appointment of Rajiv Khemani as Chief Operating Officer of Cavium Networks effective immediately. Mr. Khemani previously served as Vice President and General Manager of Cavium's Networking and Communications Division.
4:03PM Intl Rectifier beats by $0.14, reports revs in-line; guides Q3 revs above consensus (IRF) 32.03 +0.75 : Reports Q2 (Dec) earnings of $0.62 per share, $0.14 better than the Thomson Reuters consensus of $0.48; revenues rose 34.0% year/year to $281.7 mln vs the $281.5 mln consensus. Co issues upside guidance for Q3, sees Q3 revs of $285-295 mln vs. $275.47 mln Thomson Reuters consensus.
4:03PM Allegiant Travel misses by $0.06, reports revs in-line (ALGT) 46.54 -0.70 : Reports Q4 (Dec) earnings of $0.64 per share, $0.06 worse than the Thomson Reuters consensus of $0.70; revenues rose 20.3% year/year to $162 mln vs the $160.9 mln consensus. 4th quarter results generated a 13% operating margin, lower than our goal of 20%. The substantial increase in jet fuel prices which peaked during the last two weeks of the quarter weighted on the quarter's results. In three months our scheduled service cost per gallon increased almost 11% or $.25 to $2.61. If we had maintained our 3rd quarter unit fuel cost, our operating margin would have approached 17%. In spite of this, we were able to grow earnings per share by 23% compared to last year's 4th quarter. "On the revenue front, we had reasonable increases. Our total RASM in the 4th quarter, including ancillary products, increased 9.2% year over year while sequentially total RASM was up 12%. Our scheduled service selling fare sequentially was up 16.6% in the 4th quarter versus the 3rd quarter, a healthy increase. Our combined scheduled service average fare of almost $117, exceeded only by our 3rd quarter 2008 combined fare, was a necessary increase given the pressure from energy costs.
4:03PM Sigma-Aldrich acquires the assets of Resource Technology; terms of the purchase were not disclosed (SIAL) 63.62 +1.22 :
4:03PM Integrated Device beats by $0.01, reports revs in-line (IDTI) 6.55 +0.27 : Reports Q3 (Dec) earnings of $0.15 per share, $0.01 better than the Thomson Reuters consensus of $0.14; revenues rose 7.5% year/year to $153.2 mln vs the $153.1 mln consensus.
4:02PM Avatar Holdings commenced a $100 mln sr convertible notes offering (AVTR) 19.93 -0.19 : Offering underwritten by Barclays Capital. Co intends to use the proceeds from the sale of the Notes for general corporate purposes, including, without limitation, the repayment of debt and potential new acquisitions of real estate and real estate-related assets.
4:02PM Herman Miller settles Nemschoff acquisition contingencies; co will pay additional $3 mln in excahgne for cancellation of remaining contingent components of acquistition purchase price (MLHR) 24.15 : CO announces that it has reached an agreement to settle the remaining contingency-based purchase price elements of its acquisition of Nemschoff Chairs. The settlement was agreed to by the former shareholders of Nemschoff, including Mark Nemschoff, who has been a member of the Company's board of directors since the June 2009 acquisition. Under the agreement, the Company will pay additional cash consideration of $3 million in exchange for the cancellation of the remaining contingent components of the acquisition purchase price. Concurrent with the settlement, the Company will reverse all contingency-based liabilities associated with the remaining elements of the acquisition price.
4:01PM ICU Medical beats by $0.19, beats on revs; guides FY11 EPS above consensus, revs above consensus (ICUI) 39.06 +0.09 : Reports Q4 (Dec) earnings of $0.72 per share, $0.19 better than the Thomson Reuters consensus of $0.53; revenues rose 8.3% year/year to $75.6 mln vs the $70.9 mln consensus. Co issues upside guidance for FY11, sees EPS of $2.25-2.45 vs. $2.22 Thomson Reuters consensus; sees FY11 revs of $295-305 mln vs. $298.58 mln Thomson Reuters consensus.
4:00PM Healthways to provide state government-funded program for severe chronic disease management in New South Wales, Australia (HWAY) 11.97 : Co announces that following the completion of an open tender process, the government of New South Wales has awarded Healthways Australia a two-year contract with two additional one-year options as a provider of telephonic care support to people with severe chronic disease.In 2010 / 2011 the New South Wales State Government is expected to spend A$16.4 billion on health services.
4:00PM Cavium Networks to Acquire Celestial Semiconductor acquires Celestial for ~$55 mln; expects will be non-GAAP earnings neutral 1H 2011 and modestly accretive by 2H (CAVM) 39.55 -0.10 : Co announced that it is has signed a definitive agreement to acquire China-based privately held Celestial Semiconductor. Celestial is a fast growing provider of ARM-based system-on-a-chip (SoC) processor solutions for a range of digital media applications. The net purchase price of the acquisition will be ~$55 mln, to be paid in a combination of cash and stock. In addition, there is an earnout provision whereby the purchase price can increase by up to $10 mln contingent on achieving certain revenue milestones during the following 12 months. The acquisition is expected to close by the end of the first quarter of 2011. Cavium Networks expects this acquisition will be non-GAAP earnings neutral during the first half of 2011 and modestly accretive by the second half of 2011.
3:36PM Maxwell Tech settles FCPA charges; co to pay $8 mln in penalties under agreement with DoJ and $6.35 mln under agreement with SEC (MXWL) 17.89 +0.14 : Co announced today that it has reached settlements with the SEC and the U.S. Department of Justice (DOJ) with respect to charges asserted by the SEC and DOJ relating to the anti-bribery, books and records, internal controls, and disclosure provisions of the Foreign Corrupt Practices Act (FCPA) and other securities law violations. Under the terms of the settlement with the SEC, the Company will pay a total of $6.35 mln in profit disgorgement and prejudgment interest in two installments, with $3.175 mln payable immediately and the remaining $3.175 mln payable in the first quarter of 2012. Under the terms of the settlement with the DOJ, the Company will pay a total of $8.0 mln in penalties in three installments, with $3.5 mln payable immediately and $2.25 mln payable in the first quarters of 2012 and 2013.
3:00PM Drugstore.com announces partnership with ShopRunner; Customers get free and unlimited 2-day shipping on more than 60K products (DSCM) 1.77 -0.07 : The co now offers the popular ShopRunner service to their customers. Starting today, shoppers can receive unlimited, two-day shipping with no minimum order size, and free shipping on returns for both drugstore.com and Beauty.com orders with an annual payment of just $79.
2:52PM Video Display signs agreement that appoints Video Display as a North American Distributor of eyevis products (VIDE) 3.73 -0.20 :
2:44PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Corn +2.4% (COMDX) : March corn finished up 15.5 cents to $6.595, March wheat rose 15 cents to close at $8.4075, March soybeans rose 15 cents to close at $14.13, Feb ethanol closed 0.026 cents higher at $2.33, while March world sugar futures closed up 0.03 cents to 33.97 cents.
2:43PM SPDR Homebuilders slips to minor new session low of 17.67 (XHB) 17.59 -0.12 : The XHB slipped just under its morning low leaving its slightly above the three week trade range and the lows of the last two weeks at 17.66/17.62 -- LOW -1.8%, LEN -1.2%, SPF -1.5%, TOL -1.1%, DHI -0.4%, KBH -0.8%, PHM -1.9%, NVR -2.7%, ITB -0.7%.
2:38PM Stock indices slip back further off midday highs -- Dow +23, S&P +5.9, Nasdaq +6.3 (SPY) : Short term support for the S&P is at 1282 and 1279 (recently high 1282 on the pullback). A hold near these levels and a move back through 1284 would be a constructive set-up for an upside follow through attempt.
2:37PM Kohlberg Capital announces full paydown of outstanding credit facility (KCAP) 7.02 +0.03 : Co has repaid in full the outstanding balance under its revolving credit facility in advance of its scheduled forbearance date of February 28, 2011. As a result, co has no outstanding indebtedness and the Lender Parties have released to the Company ~$73 million of collateral previously securing the revolving credit facility and have also paid a $2 million cash settlement to the Company.
2:34PM NYMEX Energy Closing Prices (COMDX) : March crude oil settled higher by $2.85 to $92.19 (its best close since Oct of 2008), March natural gas closed up $10.1 cents to $4.424, Feb heating oil finished higher by 4.56 cents to $2.7358, while Feb RBOB gasoline ended up 1.13 cents to $2.4681.
2:33PM Jackson Hewitt Tax Service files lawsuit in Federal Court regarding advertising by H&R Block (HRB) (JTX) 1.57 0.00 : The co filed a lawsuit against H&R Block in New York Federal Court seeking emergency injunctive relief to stop H&R Block from further disseminating "false, misleading and highly disparaging advertising claims about Jackson Hewitt in their nationwide 'Second Look' marketing campaign." The complaint states that H&R Block has been making claims that are material to taxpayers' decisions regarding which paid tax preparation service to use. It further states that H&R Block is deceiving consumers, diverting business away from Jackson Hewitt and disparaging its reputation and goodwill in the marketplace.
2:18PM March crude extends rally with about 12 min left in pit trade; now up $3.47 to $92.81 (COMDX) : Note that the session high in the continuous contract, at $92.84, is a fresh two year high for crude.
2:14PM IMAX to list shares on the New York Stock Exchange, moving from the NASDAQ (IMAX) 25.57 0.00 :
2:06PM U.S. Oil Fund ETF continues to climb higher intraday as it lifts up into its Dec-Jan range highs off of the $39.00 level (USO) 38.90 +1.31 : The early Jan/9-mth high is overhead at $39.48.
1:56PM Ford Motor extends decline in recent trade, tests its near three month close low from late Nov at 15.70 and stabilizes-- session low 15.73 (F) 15.89 -0.39 : The next levels of note if follow through develops are at the 12 week intraday low from late Nov at 15.62 with its Nov gap at 15.40/15.20.
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