4:30 pm : Stocks scored their strongest single session gain in eight weeks on the back of broad-based buying. The effort took the stock market to a new two-year high.
The stock market's refusal to extend Friday's sharp slide yesterday was treated as an encouraging sign to buyers. Gains abroad also offered a positive backdrop for further buying this session.
Support for stocks was wide ranging as nearly 90% of the issues in the S&P 500 staged gains. Every sector except consumer staples (+0.7%) registered a gain of more than 1%. Materials stocks and financial stocks were among the best performers for the second straight session; they climbed 2.8% and 2.2%, respectively.
Such a strong, concerted buying effort helped the S&P 500 close comfortably above the 1300 line, which is where it had faltered on a couple of occasions last week, to its best level since August 2008. The Dow also set a two-year high and closed above the psychologically significant 12,000 line for the first time since June 2008, but the Nasdaq is still shy of the highs that it set a couple of weeks ago.
Dow component Pfizer (PFE 19.22, +1.00) was among this session's best individual performers and most actively traded names by volume. The pharmaceutical outfit's upside earnings surprise was cheered while its disappointing forecast was shrugged off.
In other earnings news, Baidu.com (BIDU 118.73, +10.10), Anadarko Petroleum (APC 78.54, +1.46), UPS (UPS 74.59, +2.97), and Archer-Daniels Midland (ADM 34.70, +2.03) all beat bottom line expectations. BP Plc (BP 47.98, +0.51) came short of the consensus earnings estimate, but announced that it will resume its dividend at 50% of its dividend from the first quarter of fiscal 2010.
Ford Motor (F 15.89, -0.06) saw strong volume following news of its 13% increase in total January sales. General Motors (GM 36.45, -0.04) announced a 23% annual increase in January sales and Toyota Motor (TM 83.29, +1.11) said its January U.S. sales increased 17% from the prior year.
An increased appetite for stocks prompted many to dump the dollar. In turn, the greenback fell 1.0% against a collection of competing currencies to its lowest level in more than two months.
Data was given only brief consideration this session. Although the January ISM Manufacturing Index improved to a six-year high of 60.8, which is greater than the 58.4 that had been expected, on average, among economists polled by Briefing.com, construction spending during December fell 2.5% when a 0.4% decline had been widely expected.
3:30 pm : Commodities finished mixed today, with industrials (+2.2%) the largest advancing sector and energy (-0.5%) the largest declining sector.
March crude oil finished lower by 1.5% to $90.77 per barrel. Despite the pullback, all eyes remain on the unrest in Egypt and any potential supply disruptions that could arise from the situation. March natural gas closed lower by 1.4% to $4.34 per MMBtu.
Weakness in the dollar helped gold and silver recoup earlier losses and finishes the session in positive territory. April gold closed higher by 0.4% to $1340.30 per ounce while March silver gained 1% to finish at $28.51 per ounce. DJ30 +145.16 NASDAQ +54.17 SP500 +21.39 NASDAQ Adv/Vol/Dec 2039/1.9 bln/625 NYSE Adv/Vol/Dec 2522/787.4 mln/486
2:30 pm : The stock market has eased back a couple of points over the course of the past couple of hours, but it still remains sharply higher for the session. Strength remains broad based with close to 90% of the names in the S&P 500 in higher ground and McDonald's (MCD 73.50, -0.17) the only blue chip in the Dow to trade with a loss.
Toyota Motor (TM 83.15, +0.97) recently released its January figures for U.S. sales, which increased 17% from the prior year. Daimler AG (DAI 73.96, +0.84) reported a 14% increase in U.S. sales during January. Chrysler Group posted a 23% year-over-year increase in U.S. sales for January. General Motors (GM 36.66, +0.17) announced a 23% annual increase in January sales. Ford Motor (F 16.07, +0.12) posted a 13% increase in total January sales. Nissan Motor (NSANY 20.52, +0.17) said its North American sales increased 15% in January from a year earlier. DJ30 +136.46 NASDAQ +51.87 SP500 +20.16 NASDAQ Adv/Vol/Dec 2038/1.60 bln/584 NYSE Adv/Vol/Dec 2472/665 mln/492
2:00 pm : Financials have run ahead to a 2.1% gain, which makes it the second best performing sector next to the materials sector's 2.5% advance. Among financial plays, Bank of America (BAC 14.27, +0.54) has been a particularly big mover. The stock is up almost 4% and it is also among this session's most actively traded names by share volume.
In contrast, defensive-oriented utilities plays are lagging the broader market as they trade with a relatively tame gain of 0.7%, which is less than half of what the S&P 500 has achieved today. Electric utilities giant Dominion (D 43.68, +0.14) has dragged today; it even spent some time in negative territory. DJ30 +136.88 NASDAQ +51.44 SP500 +20.04 NASDAQ Adv/Vol/Dec 2035/1.47 bln/571 NYSE Adv/Vol/Dec 2478/615 mln/492
1:30 pm : Stocks have paused near session highs. So far, this session is shaping up to be the stock market's strongest in two months.
Though buying has been broad, the Nasdaq is out in front of its counterparts. Some of that lead is owed to strength in semiconductor plays, which are collectively up 2.8%. Semiconductor stocks haven't made such a sharp move since a 3.3% spike on December 1. DJ30 +151.07 NASDAQ +52.66 SP500 +21.85 NASDAQ Adv/Vol/Dec 2037/1.36 bln/552 NYSE Adv/Vol/Dec 2519/569 mln/455
1:00 pm : A decidedly positive tone among market participants has the S&P 500 up sharply to its best level in more than two years. The ascent has been steady and broad based.
Stocks slumped this past Friday, but buyers took little time to step back into the action. Their bid in the prior session gave stocks a nice bounce and helped encourage buying abroad overnight and this morning. That has helped perpetuate a positive tone among participants, who continue to push back into stocks.
Buying has been steady and broad based, such that almost 90% of the names in the S&P 500 are in higher ground. Of the major sectors, only utilities (+0.5%), consumer staples (+0.8%), and telecom (+0.8%) have gained less than 1%. Such strength has helped the benchmark Index push through resistance along the 1300 line to its best level since September 2008.
Materials stocks are in the strongest shape. Adding to its 1.6% advance in the prior session, the materials sector is up 2.7% today. Bemis (BMS 32.45, -0.10) and Eastman Chemical (EMN 91.48, -1.38) are its only two members in the red. Both firms came short of consensus earnings estimates, but Eastman Chemical issued a strong forecast while Bemis issued downside guidance.
In other earnings news, Baidu.com (BIDU 118.26, +9.63), Anadarko Petroleum (APC 78.88, +1.80), UPS (UPS 74.69, +3.07), and Archer-Daniels Midland (ADM 34.74, +2.07) all beat bottom line expectations. Pfizer (PFE 19.26, +1.04) also beat, but issued downside guidance. BP Plc (BP 47.94, +0.47) came short of the consensus earnings estimate, but announced that it will resume its dividend at 50% of its dividend from the first quarter of fiscal 2010.
Investors continue to rotate out of the dollar, which has sunk to a 0.9% loss against a basket of competing currencies. The slide has the Dollar Index at a new two-month low.
Today's data didn't really drive any kind of a reaction among traders. The January ISM Manufacturing Index came in at a stronger-than-expected 60.8, but construction spending during December dropped a surprisingly sharp 2.5%. DJ30 +146.56 NASDAQ +54.52 SP500 +21.97 NASDAQ Adv/Vol/Dec 2005/1.24 bln/555 NYSE Adv/Vol/Dec 2522/522 mln/439
12:30 pm : Stocks continue to climb. The ascent has the S&P 500 above 1305 for the first time since September 2008. Meanwhile, the Dow is back above 12,000 to trade at a fractionally improved two-year high. However, the Nasdaq's move above 2750 is still not enough to put it at the two-year high that it set a couple of weeks ago.DJ30 +127.72 NASDAQ +51.93 SP500 +19.80 NASDAQ Adv/Vol/Dec 1992/1.10 bln/554 NYSE Adv/Vol/Dec 2484/470 mln/459
12:00 pm : The stock market has clicked higher to its best level of the day. What's more, the move has the S&P 500 at its highest level since September 2008.
This session's advance builds on the monthly gain of about 2% that the S&P 500 recorded for January. That has some market watchers excited since the January barometer posits that as January goes, so goes the year. However, it should be noted that despite losses incurred for both January 2010 and January 2009, robust annual gains were recorded in both of those years.
Nonetheless, this session's big, broad-based gains have caused volatility to cool further. In turn, the Volatility Index is down about 10%. DJ30 +106.15 NASDAQ +42.43 SP500 +16.99 NASDAQ Adv/Vol/Dec 1948/950 mln/587 NYSE Adv/Vol/Dec 2415/420 mln/519
11:30 am : The dollar has moved deeper into negative territory so that it now trades at a session low with a 0.7% loss against a collection of competing currencies. Weakness in the greenback today has taken the Dollar Index to its lowest level in more than two months. The slide is primarily owed to the euro and the pound, which are up 0.7% and and 0.8% to $1.379 and $1.614, respectively.
Treasuries are also under pressure this session. The benchmark 10-year Note is currently down about half of a point, which has been enough to take the yield on the Note comfortably above 3.40%. The yield on the 10-year Note was actually up to 3.46% earlier today, but that is still about 10 basis points shy of the seven-month high that was set in December. DJ30 +98.13 NASDAQ +38.06 SP500 +15.57 NASDAQ Adv/Vol/Dec 1883/800 mln/620 NYSE Adv/Vol/Dec 2330/358 mln/581
11:00 am : The S&P 500 has pushed itself above the 1300 line after encountering some brief resistance there. It is now about a point away from the two-year high that it set last week before rolling over in Friday's sell-off.
Although support remains broad, materials stocks continue to attract the strongest buying iterest -- the sector is up 2.2%. Of the 30 issues that make up the materials sector, only Bemis (BMS 32.32, -0.23) and Eastman Chemical (EMN 91.39, -1.47) are in the red. Both firms reported earnings that came short of consensus expectations, but Eastman Chemical issued a strong forecast while Bemis issued downside guidance. DJ30 +93.32 NASDAQ +38.35 SP500 +15.48 NASDAQ Adv/Vol/Dec 1877/667 mln/579 NYSE Adv/Vol/Dec 2322/300 mln/560
10:30 am : Precious metals have come under pressure in recent trade. They had been up with modest gains in the early going, but now gold is down with a 0.4% loss at $1328 per ounce and silver is off by 0.6% at $27.99 per ounce.
Oil prices had swung from a morning low of $91.06 per barrel to a modest gain at $92.45 per barrel, but the energy component is now back in the red with a 0.2% loss at $92.00 per barrel. Natural gas prices are down 1.3% to $4.36 per MMBtu.
Despite the appearance of widespread weakness in the commodity space, the CRB Commodity Index is only down fractionally after it surged 1.8% to a two-year high yesterday. Support has come from cotton, which is up 1.8% to $1.72 per pound, and coffee, which is up 1.3% to $2.48 per pound. DJ30 +86.28 NASDAQ +31.51 SP500 +13.71 NASDAQ Adv/Vol/Dec 1780/498 mln/606 NYSE Adv/Vol/Dec 2229/230 mln/580
10:00 am : Following a brief breather stocks regrouped to push to fresh session highs. There really hasn't been much of a reaction to the latest dose of data, though.
The January ISM Manufacturing Index came in at 60.8, which is greater than the 58.4 that had been expected, on average, among economists polled by Briefing.com. The January Index reading also marks an improvement from the 58.5 posted for the prior month.
Construction spending during December fell 2.5% after a downwardly revised 0.2% decline in the prior month. The December drop is deeper than the 0.4% decline that had been widely expected.
09:45 am : Each major equity average is up with a strong gain. Buying has been broad based to this point, but materials stocks have displayed the most strength, so far. Materials stocks are up 1.5%, which comes on top of the sector's 1.6% climb in the prior session.
Commodities have turned higher in recent trade. That has the CRB Commodity Index up 0.2% after it had been in the red earlier this morning. Among the more widely watched commodities, oil prices are now nearly flat at $92 per barrel after they had been as low as $91.06 per barrel at its morning low. DJ30 +59.00 NASDAQ +23.87 SP500 +10.32 NASDAQ Adv/Vol/Dec 1649/195 mln/572 NYSE Adv/Vol/Dec 2177/115 mln/529
09:15 am : S&P futures vs fair value: +8.70. Nasdaq futures vs fair value: +15.80. Stock futures continue to suggest that a strong start to trade is in order. Such a move would build on the prior session's bounce and bring stocks closer toward erasing the 1.8% drop that the S&P 500 suffered last Friday. The absence of any follow through selling has likely reassured buyers and, in turn, encouraged them to offer new bids. That was especially evident among natural resource plays yesterday. Emboldened participants continue to rotate out of the dollar, which is down another 0.5% this morning to a new two-month low against competing currencies. Trade this morning has, so far, been helped by a positive tone abroad and another batch of generally upbeat earnings, although BP Plc (BP) came short of the consensus earnings call and an upside surprise from Pfizer (PFE) was overshadowed by disappointing guidance. Coming up at 10:00 AM ET are the latest construction spending figures and the latest ISM Manufacturing Index. Vehicle sales figures will be released throughout the day.
09:05 am : S&P futures vs fair value: +8.30. Nasdaq futures vs fair value: +15.30. Commodities are mixed in morning trade, but the CRB Commodity Index is down 0.3% after it surged 1.8% to a two-year high in the prior session. Oil has run into some selling after climbing more than 3% to set its own two-year high in the prior session; prices are currently down 0.6% at $91.60 per barrel. Natural gas prices are under even sharper pressure as they contend with a 1.9% loss at $4.34 per MMBtu. Gold prices are up 0.2% to $1336.30 per ounce. Silver is stronger with a 0.4% gain at $28.29 per ounce.
08:35 am : S&P futures vs fair value: +7.70. Nasdaq futures vs fair value: +14.00. Futures for the S&P 500 continue to sport a strong lead over fair value. Strength has been helped by a positive tone abroad, where Germany's DAX is up to a 1.0% gain amid broad-based buying. HeidelbergCement, Fresenius, and Volkswagen are the only three names in the 30-member Index that are currently in the red. Germany's final Manufacturing PMI for January came in at 60.5, down from the prior month reading of 60.7. France's CAC has climbed to a 1.0% gain. Total (TOT) and BNP Paribas are leaders there. Carrefour is a laggard, though. As for data, France's December Producer Price Index increased 1.0%, which is sharper than the 0.4% increase that was recorded in the prior month. Britain's FTSE has pushed up to a 1.0% gain. Royal Dutch Shell (RDS.A), Rio Tinto (RIO), and BHP Billiton (BHP) are leaders there. It has been learned that the Manufacturing PMI for the United Kingdom climbed to a record high of 62.0 in January. The eurozone Manufacturing PMI improved to 57.3 from 57.1 in the prior month. The tone of trade in Europe has been helped by renewed interest in Greece, where the country's ASE Index is up more than 4% following the decision by Credit Suisse to raise its rating on the country's equities.
In Asia, Japan's Nikkei was led to a 0.4% gain by TDK and Honda Motor (HMC), which posted its latest quarterly report yesterday. Suzuki Motor and Canon (CAJ) dragged on trade, though. China's Shanghai Composite closed 0.3% higher, even though the number of advancing issues and declining issues were almost perfectly balanced. Strength in PetroChina (PTR) provided a positive influence, though. China's Manufacturing PMI for January came in at 52.9, but that is down from the 53.9 that was posted for the prior month. Hong Kong's Hang Seng mustered a 0.2% gain with help from heavyweights CNOOC (CEO), HSBC (HBC), PetroChina, and China Mobile. Li & Fung, China Construction Bank, and Cheung Kong weighed on trade.
08:05 am : S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +14.50. A broad bid by premarket participants has stock futures pointing toward a strong start for Tuesday's trade. Varied gains abroad have provided a positive backdrop to action ahead of the open. Asia's major equity averages made modest gains overnight, but Europe's major bourses are presently up by almost 1%. Both China and Germany saw Manufacturing PMI for January slip a bit from the prior month, but the United Kingdom recorded its best reading since record keeping began in 1992. Eurozone Manufacturing PMI for January hit its highest level since April. As for domestic data, today's calendar includes construction spending figures for December and ISM Manufacturing for January at 10:00 AM ET. Monthly vehicle sales numbers will be released intermittently during the day. As for the latest round of earnings, Baidu.com (BIDU) posted a bottom line beat that has helped shares of the company hit record highs ahead of the open. Anadarko Petroleum (APC) also posted a positive surprise, but BP Plc (BP) missed the consensus earnings estimate. Global package delivery provider UPS (UPS) posted upside results of its own.
6:30PM Chevron files fraud and RICO case against lawyers and consultants behind Ecuador litigation (CVX) 96.22 +1.29 : CVX filed a civil lawsuit under the Racketeer Influenced and Corrupt Organizations Act (RICO) as well as other federal and state laws against the trial lawyers and consultants leading a fraudulent litigation and PR campaign against the co. Through the lawsuit, Chevron seeks a court declaration that any judgment against Chevron in the Ecuador lawsuit is the result of fraud and therefore unenforceable. Chevron is also seeking damages associated with the cost of defending the Ecuador litigation.
6:14PM Aurizon announces $50 mln revolving credit facility (AZK) 6.60 +0.24 : Co announce that it has established a US$50 million revolving credit facility with CIBC and The Bank of Nova Scotia. The revolving credit facility has an initial three year term and is secured by a charge over the assets of Aurizon. Funds drawn on the facility may be used to finance working capital requirements, acquisitions, and for general corporate purposes. There are no hedging requirements under the terms of the credit facility.
5:37PM Legacy Bancorp announces expiration of "go-shop" period (LEGC) 13.18 +0.18 : LEGC), the holding co for Legacy Banks, today announced the expiration of the "go-shop" period pursuant to the terms of the previously announced merger agreement (the "Merger Agreement") entered into on December 21, 2010 by Legacy and Berkshire Hills Bancorp (BHLB). Under the Merger Agreement, Legacy had the right to pursue alternative acquisition proposals from third parties from the date of the Merger Agreement through January 31, 2011
5:37PM Capella Education invests in Sophia (CPLA) 58.25 +1.00 : CPLA has invested in an innovative startup company called Sophia - a social teaching and learning platform that integrates education with technology. Sophia was designed to connect people who want to learn with people who want to teach, and is expected to become a tool to help support current and potential Capella students as well as the general public. The platform, located at www.sophia.org, is currently in beta and accessible by invite only, but will be available to the general public in early March 2011.
5:34PM Tortoise Energy Capital announced that as of Jan. 31, 2011, the co's unaudited total assets were ~$800.5 mln and its unaudited net asset value was $510.4 mln, or $26.38 per share (TYY) 28.07 +0.06 :
5:33PM Jones Lang LaSalle beats by $0.25, beats on revs (JLL) 92.71 +4.07 : Reports Q4 (Dec) GAAP earnings of $1.91 per share, $0.25 better than the Thomson Reuters consensus of $1.66; revenues rose 17.3% year/year to $956.3 mln vs the $931.6 mln consensus.
5:31PM Tortoise Energy Infrastructure announced that as of Jan. 31, 2011, the co's unaudited total assets were ~$1.5 bln and its unaudited net asset value was $935.5 mln, or $34.39 per share (TYG) 38.75 -0.05 :
5:30PM Enterprise Products announced that its subsidiary, Enterprise Marine Services LLC, has entered into an agreement to sell its bunker fuel transportation operations to Kirby Corp (KEX) for $53.2 mln (EPD) 43.60 +0.04 : EPD announced that its subsidiary, Enterprise Marine Services LLC, has entered into an agreement to sell its bunker fuel transportation operations to Houston-based Kirby Corporation for $53.2 million. Included in the transaction are 21 tank barges and 15 towboats that deliver engine fuel to cruise ships, container vessels and freighters at ports primarily in South Florida, as well as other locations in Mobile, Alabama and Houston. The sale is expected to close later this month.
5:20PM Bristol-Myers announces that Paladin Acquires Tempra from the co (BMY) 25.27 +0.09 : Paladin Labs Inc. (TSX: PLB), a Canadian specialty pharmaceutical company, announced that it has entered into an agreement with Bristol Myers Squibb to acquire the Tempra line of products in Canada including both syrup and drop formulations. Financial terms of the agreement were not disclosed. According to IMS Canada, the Tempra line of products achieved sales of ~$3 mln in 2010 representing ~19% of the total sales in Canada of paediatric acetaminophen products.
5:20PM Network Equip reports Q3 Non-GAAP EPS of ($0.20) vs. Non-GAAP of ($0.15); revs fell 31% to $13.9 mln (NWK) 4.88 -0.06 :
5:17PM Nathan's Famous reports Q3 Non-GAAP EPS of $0.20 vs. Non-GAAP of 0.19 in last year's quarter; revs rose 16.5% to $13.1 mln; authorizes increase common share share in buy-back (NATH) 16.34 +0.18 : Nathan's also announced that its Board of Directors has authorized the purchase by Nathan's of up to an additional 300,000 shares of its common stock.
5:10PM Mueller Water misses by $0.01, misses on revs (MWA) 4.41 +0.41 : Reports Q1 (Dec) loss of $0.06 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of ($0.05); revenues fell 8.1% year/year to $287.6 mln vs the $291.8 mln consensus. "In 2011, we expect to realize ongoing benefits from operational savings and reduced fixed costs associated with operational excellence initiatives and our U.S. Pipe plant closure. With rising raw material costs and municipal market uncertainty, we remain cautious with our near-term outlook. As we get closer to the second half of our fiscal year, which coincides with the construction season, we anticipate that we will see an improvement in volume on a year-over-year basis."
5:03PM Crown Hldgs beats by $0.04, reports revs in-line (CCK) 33.70 +0.34 : Reports Q4 (Dec) earnings of $0.42 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.38; revenues rose 1.7% year/year to $1.95 bln vs the $1.96 bln consensus. "We expect a busy and promising 2011. Our expansion projects are on schedule and budget with three new plants and four new line additions at existing plants expected to be commercialized during the year in exciting growth markets around the world. We have also announced four new plants scheduled to begin production during 2012. As we look out over the next five years, we believe new growth opportunities will continue to arise. In pursuing these opportunities, we remain committed to conservative deployment of capital by growing with our customers to meet long term demand in promising emerging markets."
5:03PM Boston Scientific beats by $0.06, reports revs in-line; guides Q1 EPS above consensus, revs in-line; guides FY11 EPS above consensus, revs in-line (BSX) 7.13 +0.15 : Reports Q4 (Dec) earnings of $0.15 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $0.09; revenues fell 3.7% year/year to $2 bln vs the $1.99 bln consensus. Co issues mixed guidance for Q1, sees EPS of $0.30-0.38 vs. $0.09 Thomson Reuters consensus; sees Q1 revs of $1.825-1.925 bln vs. $1.91 bln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $0.53-0.68 vs. $0.40 Thomson Reuters consensus; sees FY11 revs of $7.5-7.9 bln vs. $7.72 bln Thomson Reuters consensus.
5:02PM Verigy received initial draft of definitive agreement from Advantest (ATE) to acquire all of the outstanding Verigy ordinary shares for $15.00 per share in cash (VRGY) 13.23 -0.11 : Co announced that on January 26, 2011 it received an initial draft of a definitive agreement from Advantest relating to Advantest's proposal to acquire all of the outstanding Verigy ordinary shares for $15.00 per share in cash. The Verigy Board of Directors is in the process of reviewing Advantest's proposed agreement and continues to engage with Advantest in due diligence, business analysis and management meetings in connection with the proposed transaction. The Verigy Board has not made any recommendation with respect to the Advantest proposal. There can be no assurances that an agreement will be reached with Advantest or that a transaction with Advantest will be consummated, and Verigy does not intend to comment further unless an agreement is reached with Advantest or discussions are terminated.
5:00PM JA Solar to supply 400 MW of solar modules to a leading European provider of photovoltaic systems by 2013 (JASO) 6.93 +0.03 : Co announced that it has signed a supply agreement with one of the leading European specialists in photovoltaic systems to provide 400 megawatts (MW) of solar modules from 2011 through the end of 2013. Under the terms of this agreement, JA Solar will supply the company with 100 megawatts of solar modules in 2011, 125 megawatts in 2012 and 175 megawatts in 2013.
4:54PM Theragenics to suspend shipments of TheraSeed to Core Oncology (TGX) 1.62 -0.01 : Co announced it is suspending shipments of TheraSeed(R) palladium-103 brachytherapy seeds to Core Oncology, Inc. Core has been unable to pay its trade receivables in accordance with the contractually specified terms for products and services provided. Theragenics also has provided Core with a notice of termination of its supply and reseller agreement, under which Theragenics is the exclusive palladium-103 seed supplier to Core for the treatment of prostate cancer in the U.S. and Canada. Sales to Core Oncology represented approximately 5% of consolidated revenue for 2010, and approximately 14% of total brachytherapy seed segment revenue in 2010. Theragenics expects to record a pre-tax charge of approximately $1.1 million in the fourth quarter related to accounts receivable from Core considered uncollectible. This charge is in addition to pre-tax charges of approximately $900,000 that have been recorded during 2010 in periods prior to the fourth quarter for amounts due from Core considered uncollectible.
4:51PM Quality Distribution announces a 4 mln share common stock offering; 2 mln shares are being offered by the co and 2 mln shares are being offered by selling shareholders (QLTY) 9.35 +0.16 : Quality intends to use the net proceeds from the shares that it plans to sell in this offering to retire or repay existing indebtedness. The co-managers for the offering are BB&T Capital, Stifel, Cantor Fitzgerald, and others.
4:51PM Quality Distribution sees Q4 revs in line with consensus; net income between $0.05-0.06, consensus $0.07 (QLTY) 9.35 +0.16 : Co says its expects Q4 revenues of approx $165 mln, Thomson Reuters consensus $165.7 mln; sees adjusted net income of approx $0.05-0.06, consensus $0.07. The co also announced a 4 mln stock offering.
4:48PM Blackbaud acquires Public Interest Data for approx $17.5 mln (BLKB) 26.75 +0.46 : CO announced the acquisition of Public Interest Data, Inc.. PIDI will become part of Blackbaud and will continue to serve its growing customer base. Under the terms of the agreement, Blackbaud paid an aggregate purchase price of approximately $17.5 million, plus an additional amount of up to $2.5 million in contingent payments based upon performance of the acquired business through the two-year anniversary of the transaction. Blackbaud financed the deal with cash on hand. The acquisition will augment Blackbaud's industry leading DMS business while providing incremental analytics capabilities in the area of donor acquisition list analytics.
4:48PM Cyberonics announces that the AspireHC generator for use in vagus nerve stimulation therapy was approved by the FDA for commercial release (CYBX) 32.82 +0.07 :
4:47PM NaviSite to be acquired by Time Warner (TWC) for $5.50 per share in cash (NAVI) 4.13 +0.13 : Time Warner Cable and NaviSite announce that they have entered into an agreement under which Time Warner Cable will acquire NaviSite, a provider of enterprise-class hosting, managed application, messaging and cloud services, for $5.50 per share in cash, or a total equity value of ~$230 million. Time Warner Cable expects to utilize NaviSite's net operating losses, which Time Warner Cable believes will yield a net present value of ~$40 million in tax savings after closing. Deutsche Bank Securities Inc. and Paul, Weiss, Rifkind, Wharton & Garrison, LLP acted as advisors for Time Warner Cable. BRL Law Group LLC acted as advisor for NaviSite, and Raymond James and Richards, Layton & Finger, P.A. acted as advisors for NaviSite's Special Committee of its Board of Directors.
4:46PM Virtus Investment Partners reports Q4 net income of $7.1 mln up 62% y/y; Total sales increase to $1.7 bln; no estimates available (VRTS) 49.87 +1.60 :
4:37PM Wisconsin Energy beats by $0.05, misses on revs (WEC) 61.02 +0.73 : Reports Q4 (Dec) earnings of $1.06 per share, $0.05 better than the Thomson Reuters consensus of $1.01; revenues rose 2.8% year/year to $1.09 bln vs the $1.23 bln consensus. Total sales of electricity to retail customers across the region rose by 6 percent during 2010. Residential use of electric energy grew by 6 percent as households responded to warm, humid summer temperatures and electricity usage by commercial and industrial customers increased by 6.1 percent - reflecting a modest recovery in the economy.
4:33PM CME Group announces record volume for its light sweet crude oil (WTI) futures and options contracts (CME) 315.93 +7.37 : On Monday, January 31, WTI options reached a record of 294,411 contracts, surpassing the previous record of 290,365 contracts set on January 28, 2011. During the month of January average daily volume for WTI options grew to 165,162 contracts up 21.4%, versus 136,102 contracts during January 2010.
4:33PM Timken to invest $35 million at its Faircrest Steel Plant in Canton, Ohio (TKR) 48.58 +1.56 : This investment comes on the heels of the $50-million commitment in capital improvements initiated at the end of 2010 at the company's other steel facilities in Canton. The investments reflect the significant increase in demand Timken has seen for its high-performance steel across all markets. Slated to begin operation in early 2013, the addition of the in-line forge press will generate value by increasing capacity, lowering costs through improved yield, expanding product capabilities to meet ultrasonic specifications that are more demanding and reducing cycle times for larger products.
4:32PM Plantronics beats by $0.07, reports revs in-line; guides Q4 EPS above consensus, revs below consensus (PLT) 36.24 +0.84 : Reports Q3 (Dec) earnings of $0.66 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.59; revenues rose 9.5% year/year to $181.6 mln vs the $183.4 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.58-0.62, excluding non-recurring items, vs. $0.57 Thomson Reuters consensus; sees Q4 revs of $167-172 mln vs. $179.39 mln Thomson Reuters consensus.
4:32PM CVB Financial announces the 3/1/2011 retirement of Edward Biebrich, Executive VP and CFO, and the appointment of Richard Thomas to those positions (CVBF) 8.40 +0.12 :
4:31PM United Rentals misses by $0.02, beats on revs (URI) 27.53 +0.88 : Reports Q4 (Dec) earnings of $0.16 per share, excluding non-recurring items, $0.02 worse than the Thomson Reuters consensus of $0.18; revenues rose 7.2% year/year to $597 mln vs the $574.8 mln consensus. For 2011 co sees an increase in rental rates of at least 5% y/y. An increase in time utilization of approximately 1 percentage point year-over-year; and Free cash flow in the range of $10 million to $50 million, including net rental capital expenditures of between $425 million and $475 million. Gross rental purchases are anticipated to be approximately $625 million.
4:31PM Regis announces ownership increase of 17% in parent company of Jean Louis David and Franck Provost Salons (RGS) 16.77 +0.01 : Co announces it has agreed to increase its ownership stake in Provalliance, the largest hair salon company in Europe. Under the terms of the agreement, Regis will pay approx $56 mln to secure an additional 17% ownership interest, bringing its total equity position in Provalliance to 46%. The transaction is expected to close prior to June 30, 2011, and is projected to add approx six cents to earnings per share on a full year basis. The transaction results from Regis' acceptance of a previously-disclosed equity put right held by one of the other investors in Provalliance.
4:30PM Amtech Systems to acquire controlling interest in Ion implant technology based in China; strengthens high-efficiency solar cell strategy (ASYS) 26.39 : Co announced it has entered into an agreement to acquire a controlling interest in a China-based ion implant technology company located in Shanghai, China. The acquisition is expected to close in February 2011, subject to compliance with formal Hong Kong filing requirements. Under the terms of the acquisition: For its 55% ownership, Amtech will pay $5.5 mln in the form of cash and stock, and will pay up to $4 mln in the form of a contingent promissory note. The payments of up to $4 mln pursuant to the contingent note are to be made to the acquired company and used to fund Kingstone Semiconductor's development of a next generation solar ion implant machine.
4:30PM Resource America's LEAF Financial announces securitization of $96 million of leasing assets (REXI) 6.83 -0.02 : With the completion of LEAF 2011-1, LEAF has securitized approximately $96 Million of leases, term funded by the issuance of Contract Backed Notes on behalf of LEAF Commercial Finance Fund, LLC, a consolidated subsidiary of LEAF Equipment Finance Fund 4, L.P. ("LEAF 4"), one of the investment partnerships it administers. Guggenheim Securities, LLC, was the arranger of the notes and LEAF will continue to be the servicer for the assets.
4:30PM GLG Life Tech announces C$44 million bought deal financing (GLGL) 12.09 -0.06 : Co announces that it has entered into an agreement with a syndicate of underwriter, which have agreed to purchase, on a bought deal basis, 4 mln units of the Company at a price of C$11.00 per Unit, for aggregate gross proceeds of C$44,000,000. Each unit will consist of one common share and one half of one common share purchase warran. Each whole Warrant will entitle the holder to acquire one common share of the Company at the exercise price of C$15.00 per common share for a period of 36 months following the date of closing of the offering. The Company plans to use the net proceeds from the offering to advance its ANOCTM joint venture, including marketing and administration, for working capital and other general corporate purposes.
4:27PM ESB Financial reports Q4 EPS of $0.28 vs. $0.20 in last year's quarter (ESBF) 14.34 +0.58 :
4:27PM UQM Technologies has been selected by Saab to power its all-electric Saab 9-3 ePower development test fleet (UQM) 2.90 +0.17 :
4:24PM CVR Energy announces a secondary public offering of 15 mln shares of common stock (CVI) 17.75 +0.43 : The selling stockholders include affiliates of Goldman, Sachs & Co. and Kelso & Company, L.P. Goldman, Sachs & Co., Deutsche Bank Securities and Credit Suisse are acting as the joint book-running managers for the offering.
4:24PM Silgan Holdings beats by $0.02, misses on revs; guides Q1 EPS below consensus; guides FY11 EPS in-line (SLGN) 38.07 +0.76 : Reports Q4 (Dec) earnings of $0.42 per share, $0.02 better than the Thomson Reuters consensus of $0.40; revenues rose 0.9% year/year to $711.6 mln vs the $739.1 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.35-0.40 vs. $0.46 Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $2.55-2.65 vs. $2.59 Thomson Reuters consensus. Net sales in the metal container business are expected to be higher in 2011 as compared to 2010 primarily due to the inclusion of the Vogel & Noot operations and the contractual pass through of higher raw material and other manufacturing costs.
4:20PM Arthur J. Gallagher beats by $0.17 (AJG) 29.95 +0.27 : Reports Q4 (Dec) earnings of $0.43 per share, $0.17 better than the Thomson Reuters consensus of $0.26.
4:19PM Basic Energy Services announces private offering of $250 million of senior notes and tender offer for its 11.625% senior secured notes due 2014 (BAS) 18.91 +0.65 :
4:17PM C.H. Robinson misses by $0.01, reports revs in-line (CHRW) 78.20 +1.11 : Reports Q4 (Dec) earnings of $0.62 per share, $0.01 worse than the Thomson Reuters consensus of $0.63; revenues rose 15.8% year/year to $2.33 bln vs the $2.34 bln consensus.
4:14PM China Medicine receives manufacturing license for rADTZ (CHME) 2.14 0.00 : Co announces that it has received the manufacturing license from the Chinese Ministry of Agriculture for the Company's proprietary recombinant, Aflatoxin Detoxifizyme, which is used for removing a potential cancer causing agent, aflatoxins, from food and animal feed. This license grants co a five-year exclusive right to produce and sell rADTZ for usage in feed and feed additive fields. Co expects revenue contribution from the product in the second half of 2011, after MOA completes an onsite equipment inspection.
4:13PM Black Box beats by $0.04, beats on revs; guides Q4 EPS in-line, revs in-line; guides FY11 EPS above consensus, revs above consensus (BBOX) 36.56 +1.37 : Reports Q3 (Dec) earnings of $0.84 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.80; revenues rose 9.2% year/year to $276.7 mln vs the $263.1 mln consensus. Co issues in-line guidance for Q4, sees EPS of 0.79-0.84, excluding non-recurring items, vs. $0.84 Thomson Reuters consensus; sees Q4 revs of ~$260-265 mln vs. $263.70 mln Thomson Reuters consensus. Co issues upside guidance for FY11, sees EPS of $3.34-3.39, excluding non-recurring items, vs. $3.33 Thomson Reuters consensus; sees FY11 revs of ~$1.07-1.08 bln vs. $1.06 bln Thomson Reuters consensus.
4:12PM Pericom Semi misses by $0.02, reports revs in-line; guides Q3 revs below consensus (PSEM) 10.18 +0.15 : Reports Q2 (Dec) earnings of $0.07 per share, $0.02 worse than the Thomson Reuters consensus of $0.09; revenues rose 13.7% year/year to $40.7 mln vs the $41 mln consensus. Co issues downside guidance for Q3, sees Q3 revs of $38-$41 mln vs. $41.44 mln Thomson Reuters consensus. Co says GAAP gross margins are expected to be between 33.2% and 35.2%. GAAP operating expenses are expected to be between $12.3 and $12.7 million, and other income is expected to be approximately $0.8 million on a GAAP basis.
4:12PM Bigband Networks beats by $0.01, reports revs in-line; guides Q1 EPS below consensus, revs below consensus (BBND) 2.68 +0.03 : Reports Q4 (Dec) loss of $0.05 per share, ex-items, $0.01 better than the Thomson Reuters consensus of ($0.06); revenues fell 23.5% year/year to $26.3 mln vs the $26.5 mln consensus. Co issues downside guidance for Q1, sees EPS of ($0.12)-($0.09) vs. ($0.06) Thomson Reuters consensus; sees Q1 revs of $17-$20 mln vs. $25.95 mln Thomson Reuters consensus.
4:10PM North American Energy misses by $0.18, beats on revs (NOA) 12.09 +0.10 : Reports Q3 (Dec) earnings of CDN$0.10 per share, CDN$0.18 worse than the Thomson Reuters consensus of CDN$0.28; revenues rose 19.9% year/year to CDN$265.1 mln vs the CDN$244.4 mln consensus. Operating margin 4.1% in Q4 compared to 14.1% in prior year period. CEO. "All three of our business segments posted year-over-year revenue gains. Given that margin movement tends to trail revenue changes by six to nine months, this increase in revenue signals higher demand and bodes well for our margins on our shorter-term contracts and master services agreements in the latter part of calendar 2011."
4:09PM Vascular Solutions reports EPS in-line, revs in-line; guides FY11 EPS in-line, revs in-line (VASC) 11.18 +0.60 : Reports Q4 (Dec) earnings of $0.12 per share, excluding income tax benefit, in-line with the Thomson Reuters consensus of $0.12. Co issues in-line guidance for FY11, sees EPS of $0.50-0.54 vs. $0.53 Thomson Reuters consensus; sees FY11 revs of $89-91 mln vs. $89.61 mln Thomson Reuters consensus. Included in the net income projection for 2011 are $2.2 million in non-cash stock-based compensation and $0.8 million in amortization of intangibles, with an assumed 38% income tax rate.
4:08PM Western Union beats by $0.03, misses on revs; guides FY11 EPS in-line, revs in-line (WU) 20.27 +0.00 : Reports Q4 (Dec) earnings of $0.38 per share, $0.03 better than the Thomson Reuters consensus of $0.35; revenues rose 3.3% year/year to $1.4 mln vs the $1331.4 mln consensus. Co issues in-line guidance for FY11, sees EPS, ex-items, of $1.47-$1.52 vs. $1.51 Thomson Reuters consensus; sees FY11 rev growth of 3-4%, which equates to approx $5.35-$5.40 bln vs. $5.4 bln Thomson Reuters consensus. Co expects FY11 operating margin of ~27%, ex-restructuring items. Sees GAAP cash flows from operating activities of $1.2-$1.3 billion.
4:07PM RadiSys beats by $0.09, beats on revs; guides Q1 EPS below consensus, revs in-line (RSYS) 8.92 +0.46 : Reports Q4 (Dec) earnings of $0.08 per share, $0.09 better than the Thomson Reuters consensus of ($0.01); revenues fell 14.5% year/year to $66.8 mln vs the $63.1 mln consensus. Non-GAAP gross margin for the qtr was 34.7%. Co issues mixed guidance for Q1, sees EPS of $0.04-0.09 vs. $0.10 Thomson Reuters consensus; sees Q1 revs of $67-71 mln vs. $68.43 mln Thomson Reuters consensus. First quarter non-GAAP gross margin is expected to be approximately 31% at the midpoint of the guidance range, which is down from the prior quarter due to lower gross margin rates on legacy products as well as lower media server revenues in the first quarter. For the full year of 2011, total revenues are currently expected to increase YoY.
4:07PM Jack Henry beats by $0.05, beats on revs (JKHY) 29.77 +0.21 : Reports Q2 (Dec) earnings of $0.42 per share, $0.05 better than the Thomson Reuters consensus of $0.37; revenues rose 15.0% year/year to $242.6 mln vs the $237.8 mln consensus. Backlog, which is a measure of future business and revenue, increased 8% compared to year-ago levels to $342.7 million ($78.7 million in-house and $264.0 million outsourcing) at December 31, 2010.
4:06PM Broadcom announces 12.5% increase in quarterly cash dividend and $300 million accelerated share repurchase plan (BRCM) 46.30 +1.21 : Co announces that its Board of Directors has approved a 12.5% increase in the quarterly cash dividend to $0.09 cents per share, up from $0.08 per share, payable to holders of the Company's Class A and Class B common stock. Co also announced a $300 million accelerated share repurchase plan under its existing evergreen share repurchase program.
4:06PM Powerwave misses by $0.02, misses on revs (PWAV) 3.47 -0.01 : Reports Q4 (Dec) earnings of $0.06 per share, excluding non-recurring items, $0.02 worse than the Thomson Reuters consensus of $0.08; revenues rose 23.1% year/year to $175.6 mln vs the $179.5 mln consensus.
4:06PM Medical Action beats by $0.02, misses on revs (MDCI) 8.12 +0.02 : Reports Q3 (Dec) earnings of $0.14 per share, $0.02 better than the Thomson Reuters consensus of $0.12; revenues rose 46.8% year/year to $104.5 mln vs the $106.4 mln consensus. Co says "Our management team remains focused on completing the integration of AVID Medical, while there remains work to be done to fully execute our integration strategies, we are very pleased with our progress. We have completed the consolidation of our sales teams and will finish integration of manufacturing operations during our fiscal fourth quarter. We are now engaged in activities focused on growing sales of custom procedure trays, as well as our existing product lines through our fully staffed sales and marketing teams."
4:05PM Electronic Arts beats by $0.02, misses on revs; guides Q4 EPS in-line, revs in-line; guides FY11 EPS in-line, revs below consensus; announced $600 mln stock buyback (ERTS) 152.62 +0.03 : Reports Q3 (Dec) earnings of $0.59 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.57; revenues rose 4.8% year/year to $1.41 bln vs the $1.43 bln consensus. Electronic Arts announces $600 Million Stock Buyback . Co issues in-line guidance for Q4, sees EPS of $0.15-0.25, excluding non-recurring items, vs. $0.20 Thomson Reuters consensus; sees Q4 revs of $850-950 mln vs. $936.93 mln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $0.60-0.70, excluding non-recurring items, vs. $0.63 Thomson Reuters consensus; sees FY11 revs of $3.68-3.78 bln vs. $3.79 bln Thomson Reuters consensus.
4:05PM Alliance Data beats by $0.14, beats on revs; guides Q1 EPS above consensus (ADS) 72.26 +1.52 : Reports Q4 (Dec) earnings of $1.56 per share, $0.14 better than the Thomson Reuters consensus of $1.42; revenues rose 38.5% year/year to $756 mln vs the $743.5 mln consensus. Co issues upside guidance for Q1, sees EPS of $1.65 vs. $1.62 Thomson Reuters consensus; co expects high single-digit growth in revenue, vs. consensus of ~8.7%.
4:04PM CIBT Education Group receives approval from the Toronto Stock Exchange to a normal course issuer bid to purchase for re-sale up to 3 mln of its common shares (MBA) 0.45 -0.02 :
4:04PM Intevac beats by $0.03, misses on revs (IVAC) 13.87 +0.12 : Reports Q4 (Dec) earnings of $0.05 per share, $0.03 better than the Thomson Reuters consensus of $0.02; revenues rose 5.8% year/year to $36.2 mln vs the $37 mln consensus. Order backlog totaled $46.7 mln on Dec 31, 2010, compared to $73.8 mln in the yr ago period. Equipment gross margin was 47.7%, compared to 48.8% in the fourth quarter of 2009, primarily as a result of a higher mix of system shipments partially offset by improved factory utilization.
4:04PM Cogo Group beats by $0.01, beats on revs; guides Q1 EPS in-line, revs above consensus (COGO) 9.18 +0.42 : Reports Q4 (Dec) earnings of $0.24 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.23; revenues rose 28.9% year/year to $113.5 mln vs the $107.5 mln consensus. For Q1, co sees EPS of $0.19, excluding non-recurring items, vs. $0.19 Thomson Reuters consensus; sees Q1 revs of $95-100 mln vs. $92.6 mln Thomson Reuters consensus.
4:04PM JDA Software beats by $0.05, reports revs in-line; guides FY11 EPS below consensus, revs in-line (JDAS) 30.91 -0.73 : Reports Q4 (Dec) earnings of $0.61 per share, $0.05 better than the Thomson Reuters consensus of $0.56; revenues rose 57.6% year/year to $168.8 mln vs the $170.2 mln consensus. Co issues mixed guidance for FY11, sees EPS of $2.00-2.20 vs. $2.40 Thomson Reuters consensus; sees FY11 revs of $650-690 mln vs. $666.83 mln Thomson Reuters consensus.
4:03PM Magma Design increases authorization in common stock repurchase program to $30 mln (LAVA) 5.59 +0.16 :
4:02PM Computer Sciences announces the addition of Advanced Collaboration Solutions for IBM (IBM) Lotus to its existing portfolio of Business Collaboration Solutions (CSC) 54.32 +1.03 :
4:02PM Hawaiian Holdings beats by $0.03, beats on revs (HA) 7.63 +0.24 : Reports Q4 (Dec) earnings of $0.21 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.18; revenues rose 15.8% year/year to $343.8 mln vs the $339.2 mln consensus.
4:02PM Seattle Genetics to offer and sell shares of its common stock in an underwritten public offering (SGEN) 16.17 -0.22 : Co announced that it intends to offer and sell shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Seattle Genetics. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
4:01PM Manhattan Assoc beats by $0.01, misses on revs; guides FY11 EPS above consensus, revs in-line (MANH) 29.79 +0.28 : Reports Q4 (Dec) earnings of $0.32 per share, $0.01 better than the Thomson Reuters consensus of $0.31; revenues rose 15.1% year/year to $71.5 mln vs the $74.7 mln consensus. Co issues mixed guidance for FY11, sees EPS of $1.77-1.82 vs. $1.52 Thomson Reuters consensus; sees FY11 revs of $325-330 mln vs. $330.09 mln Thomson Reuters consensus.
4:01PM Oxford Lane Capital invests ~$14 mln of initial public offering proceeds in in junior debt and equity tranches of collateralized loan obligations (OXLC) 20.02 +0.02 :
3:57PM Vina Concha y Toro signes a trading agreement with the controller group of Cervezas Kross to contemplate the acquisition of a minimum of 40% of the beer company (VCO) 47.05 +0.85 :
3:31PM Cotton futures rise the exchange limit, pushing to new all-time highs of $1.7244/lb - now 152% higher YoY (BAL) 87.58 +1.42 : March cotton futures, the most active contract, are 4 cents (or 2.2%) higher at $1.7222/lb, primarily driven by strong China imports. Cotton futures are 19% higher from a month ago and 152% higher YoY.
3:26PM AutoChina International refutes negative statements published earlier today by a disclosed short-seller (AUTC) 23.40 -4.20 : Co refutes negative statements published earlier today by a disclosed short-seller called "The Forensic Factor". "After a review of the statements and allegations made in the report, AutoChina disagrees with the views expressed and believes that investors should rely on the Company's public reports filed with the Securities and Exchange Commission. Co's interim financial statements have been reviewed by its independent auditing firm, PricewaterhouseCoopers LLP (PWC) since the firm's appointment in April 2010. Co also stated that it does not expect to restate its financial results for prior-year periods, and anticipates announcing its audited financial results for the year ended December 31, 2010 in March."
3:13PM India Globalization files amended 10-K for FY10 with an Unqualified Opinion regarding its prior deconsolidation transaction and issues market guidance concerning the status of its SEC registration statements (IGC) 0.81 : Co announced that on January 28, 2011 it filed an amended Form 10-K for the Fiscal Year Ended March 31, 2010 removing the qualification in the auditor's report on its FYE financial statements regarding the deconsolidation of a subsidiary and updating certain disclosures regarding evaluation of disclosure controls. The Company is also issuing guidance concerning the status of its SEC registration statements. "Other than the change regarding the unqualified audit opinion, there are no changes to the audited financial statements filed in the amended Form 10-K." The Commission has indicated that as the initial Form 10-K filed on July 14, 2010 was deficient as a result of the inclusion of the qualified audit opinion. It was therefore deemed not to have been filed with the Commission in accordance with applicable requirements, thus making the Company delinquent in its filings with the Commission. (stock halted)
2:53PM Masimo reports new published study finds noninvasive Masimo PVI accurately predicts fluid responsiveness in intensive care patients (MASI) 29.81 -0.17 : Co announced that a new study published in the peer-reviewed journal Critical Care Medicine demonstrates that noninvasive, continuous monitoring of Masimo Pleth Variability Index (PVI) predicts fluid responsiveness with high sensitivity (95%) and specificity (91%) in mechanically-ventilated patients in the Intensive Care Unit (ICU). Multiple previous studies have shown that PVI predicts fluid responsiveness in surgical patients--helping clinicians improve fluid management to reduce patient risk but this is the first published study demonstrating its effectiveness in predicting fluid responsiveness in critically-ill ICU patients.
2:47PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled lower by $1.42 to $90.77, natural gas shed 7.6 cents to close at $4.344, heating oil gained 1.31 cents to finish at $2.753, while RBOB gasoline ended higher by 1.31 cents to $2.5132 (all March contracts).
2:36PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : March corn finished up 6.875 cents to $6.69, March wheat fell 5.75 cents to close at $8.35, March soybeans gained 26.5 cents (or +1.9%) to close at $14.395, Feb ethanol closed 0.005 cents higher at $2.335, while March world sugar futures closed down 0.01 cents to 33.96 cents.
2:15PM Sandy Spring Banc COO Frank Small retires, effective immediately as planned (SASR) 19.73 +0.53 :
2:01PM Avis Budget signs partnership agreement With La Quinta Inns & Suites to special savings and reward points on rentals (CAR) 14.42 +0.58 :
1:34PM Interactive Brokers reports Jan brokerage metrics; DARTs increased 7% y/y (IBKR) 16.35 +0.18 : Highlights for the month included: 418K Daily Average Revenue Trades (DARTs), 7% higher than prior year. Ending customer equity of $22.8 billion, 50% higher than prior year and 3% higher than prior month. Ending customer margin loan balances of $7.4 billion, 106% higher than prior year and 6% higher than prior month. Ending customer credit balances of $15.0 billion, 40% higher than prior year and 5% higher than prior month. 161 thousand customer accounts, 19% higher than prior year. 602 annualized average cleared DARTs per customer account.
1:32PM COMEX Metals Closing Prices (COMDX) : April gold finished higher by $6.00 to $1340.50, March silver gained 31.6 cents to close at $28.485, while March copper ended up 8.45 cents to $4.543.
1:30PM Schnitzer Steel acquires substantially all of the assets of Ferrill's Auto Parts; terms not disclosed (SCHN) 63.02 +1.34 :
1:01PM Capital Gold announces discontinuation of negotiations with Timmins Gold; "Timmins proposal does not constitute a superior proposal" (CGC) 4.89 +0.10 : Co announced that its Board of Directors has advised Timmins Gold, of its determination to terminate its consideration of the proposal submitted by Timmins as it has determined that the Timmins proposal does not constitute a superior proposal as that term is defined in the agreement and plan of merger with Gammon Gold (GRS). This determination is based upon Capital Gold's review of Timmins' due diligence materials.
12:58PM EMCOR Group Acquires Bahnson Holdings; Bahnson 2010 revs were ~$155 mln; acqusition price not disclsoed (EME) 31.18 +0.90 :
12:49PM Semiconductor Hldrs tests last week's 39 month high of 35.32 -- session high 35.32 (SMH) 35.32 +0.91 : Top performing components include: ALTR +4.7%, AMAT +2.8%, AMD +4.8%, ATML +3.9%, BRCM +3.2%, LSI +2.4%, MU +2.6%, NVLS +6%, TER +3.4%, SNDK +3.5%, XLNX +3.1%.
12:49PM Silver ticks to its highest levels of the day; now up $0.381 to $28.55 (COMDX) : Gold also working towards its overnight highs at $1342.00; now up $6.00 to $1340.50
12:39PM Baidu.com: Earnings Mover -- Stock climbing back up to probe its gap up opening highs near the $118.00 area here (BIDU) 118.04 +9.47 : Note that the previously mentioned $115.00 support level held on three separate occasions this morning.
12:24PM Dow +130 joins S&P +19 at new multi-year intraday high of 12022 (DIA) :
12:15PM Nissan Motor North America reported January U.S. sales of 71,847 units versus 62,572 units a year earlier, an increase of 14.8% (NSANY) 20.53 +0.18 :
12:09PM Arrow unit to acquire Upstate Agency (AROW) 23.00 +0.32 : Co's unit announced that Glens Falls National Bank and Trust Company, has acquired Upstate Agency, a property and casualty insurance agency headquartered in Chestertown, New York with seven offices located in Northern New York. Upstate Agency will operate as a wholly-owned subsidiary of Glens Falls National Bank.
12:06PM Conolog announces NASDAQ panel decision to delist common stock effective Feb 2 (CNLG) 0.34 -0.02 :
12:03PM Zoran: Ramius delivers letter to Zoran shareholders (ZRAN) 9.84 +0.35 : Ramius Value and Opportunity Advisors LLC, a subsidiary of Ramius LLC, sent a letter to shareholders of Zoran Corporation, urging shareholders to submit their white consent card to remove and replace six members of the current Board. In the letter, Ramius calls on shareholders to hold the Board accountable for overseeing massive destruction of shareholder value and deterioration in financial performance. Ramius also highlights misleading statements made by Zoran to its shareholders about the underperforming and money-losing DTV and DVD segments.
12:01PM Ford Motor reports total January sales (including fleet sales) increased 13% to 127,317 (F) 16.09 +0.14 : Ford's January retail sales climbed 27% y/y; retail sales were up 35% for cars, 22% for utilities and 24% for trucks. Ford's total sales in January (including sales to fleet customers) were 127,317, up 13 percent. Total sales comparisons included a planned 27 percent decline in sales to daily rental companies and the discontinuation of the Mercury brand.
12:00PM L&L Energy regains compliance with NASDAQ Audit Committee Requirements (LLEN) 8.86 +0.36 :
11:53AM Sector relative strength as stock indices edge to new highs -- Dow +106, S&P +16.9, Nasdaq Comp +41 (SPY) : In recent action has seen Finance XLF, Reg Bank KRE, Retail XRT, Semi SMH, Solar TAN, Health XLV provide relative strength
11:50AM Chemtura to raise prices up to 10% on polyester polyols including Fomrez (CHMT) 16.99 +0.30 :
11:40AM S&P +16 sets new multi-year intraday high of 1303.03 (SPY) :
11:17AM Minerals Tech to build a satellite PCC Plant in India for JK Paper Limited (MTX) 64.40 +1.18 : Co announced that its wholly owned subsidiary, Specialty Minerals Inc., has entered into an agreement with JK Paper Limited (JK Paper) to construct a satellite precipitated calcium carbonate (PCC) facility at JK Paper's largest pulp and paper mill located near Rayagada in the state of Odisha, India. JK Paper is a part of the JK Group, one of the leading business brands in India, with a significant presence in automotive tires and tubes, cement, and the paper and pulp brand segments, among others.
11:14AM General Electric oil & gas awarded $50 mln in subsea equipment orders by Petrobras (PBR) for Brazil deepwater projects (GE) 20.61 +0.47 :
11:13AM Citigroup: EMI Group confirms that Citigroup has acquired 100% of its share capital (C) 4.87 +0.05 :
11:09AM S&P +15.9 probes last week/52-wk high at 1302.67 -- session high 1302.63 (SPY) :
11:08AM American Electric reaffirms its 2011 ongoing earnings guidance of $3.00-3.20/share vs consensus of $3.15 ahead of conference presentation (AEP) 35.55 -0.13 :
11:01AM BE Aerospace Wins Chinese Programs Valued at $200 Million (BEAV) 38.70 +0.01 : Co announces that it has been selected by a number of China's leading airlines, including Air China, China Southern Airlines, and Hainan Airlines, to equip their commercial airliner fleets with both B/E Aerospace seating products and B/E Aerospace food and beverage preparation and storage equipment. The awards are initially valued at ~$200 million.
10:55AM Dollar Index drops quickly lower after penetration of overnight trough, sets new 11 week low (UUP) :
10:52AM Relative sector strength as stock indices extend -- Dow +98, S&P +16, Nasdaq +38 (TECHX) : Sectors outperforming the S&P in recent action include: Disk Drive, Casino BJK, Computer-Hardware, Ag/Chem MOO, Materials XLB, Gold Miners GDX, Semi SMH, Internet FDN.
10:49AM Autodesk notches new session high, eyeing its 52-wk close high (ADSK) 41.84 +1.16 : The stock broke out above a bull flag pattern today with it reaching as high as 41.93 in recent trade. Its Jan/multi-year close high is at 42.03 with its Jan/multi-year intraday peak at 42.32 (session high 41.93).
10:46AM Applied Energetics has appointed a Senior Advisory Board (AERG) 0.62 +0.01 : The purpose of Applied Energetics' Senior Advisory Board is to provide advice, recommendations, and guidance to the Management, Board of Directors, and the Board's Strategic Planning Committee, related to corporate goals and strategy. Advice and recommendations will include strategic objectives and direction; market and defense trends; insights into changing defense priorities and requirements; Legislative or Executive Branch topics that may impact AE strategy; identification of key personnel or potential strategic partners; or other matters relevant to the development, growth, and profitability of Applied Energetics.
10:45AM General Motors announces January sales rise 23% YoY (GM) 36.68 +0.19 : General Motors dealers in the United States reported 178,896 total sales in January, a 23% increase from a year ago for co's four brands. The gain was driven by solid retail sales which were 36 percent higher than a strong January a year ago.
10:44AM Video Display invests in additional capacity in NY's Ontario County (VIDE) 3.92 0.00 : Co committed additional investments in both equipment and people for the Company's specialty power supply and electronic printed circuit board assembly at its Ontario County facility.
10:44AM Verizon announces that it invested $642 million in its Pennsylvania landline communications network and IT infrastructure in 2010 (VZ) 36.17 +0.55 :
10:38AM TJX confirms Ernie Herrman has been promoted to President (TJX) 47.73 +0.34 : Co announced that its Board of Directors approved a new management structure. Carol Meyrowitz continues as Chief Executive Officer as well as a Director of The TJX Companies and has entered into another two-year employment agreement. Ernie Herrman has been promoted to President of The TJX Companies from his post of Senior Executive Vice President, Group President.
10:36AM Pluristem Therapeutics announces closing of public offering of common stock and warrants to purchase common stock (PSTI) 3.07 -0.18 : Co announced the closing of its previously announced firm commitment underwritten public offering of 11,000,000 units, with each unit consisting of one share of the Company's common stock and one warrant to purchase 0.4 of a share of common stock, at a purchase price of $3.25 per unit. The net proceeds to the Company are expected to be approximately $38 million, assuming no exercise of the warrants and after deducting underwriting commissions and discounts and estimated offering expenses payable by the Company.
10:31AM Comcast and Time Warner announce long-term agreement for Xfinity customers (CMCSA) 22.88 +0.13 : Co and Time Warner (TWC) announced they have signed a long-term agreement that provides Comcast digital cable customers with access shows and movies from Turner Broadcasting System networks. The content will appear shortly after initial airing at no additional cost to Comcast's customers on www.XfinityTV.com, Comcast's On Demand service, applicable Turner Web Sites and Xfinity and Turner branded iPad, iPhone and Android-based tablet and phone applications with plans for live streaming later this year.
10:27AM Chesapeake Energy posting follow through gains, approaching its 2009/27 month high (CHK) 29.81 +0.28 : Highlighted the test of its Jan high/multi-week range top at 28.19 yesterday with follow through gains leaving it modestly under its 27 month high from Oct 2009 at 30.00 (session high 29.82).
10:26AM Apple pushes above its gap up opening range highs as it lifts up toward its recent 4-day high near $345.00-$345.60 (AAPL) 343.73 +4.43 :
10:25AM S&P +14 tops 1300 again, last week's 28 month high is at 1302 (SPY) :
10:24AM CBOE Holdings reports January trading activity; ADV during January was 38,908 contracts, up 234% YoY (CBOE) 22.95 -0.06 : Co announced that several trading records were set at the exchange during January 2011, including total exchange monthly volume, exchange monthly average daily volume, total VIX futures monthly volume and VIX futures monthly average daily volume. The record 778,157 total contracts that changed hands at CFE in January eclipsed the previous high of 751,481 contracts traded in November 2010. When compared to the 221,025 contracts traded a year ago and the 556,250 contracts traded in December, January's volume rose by 252% and 40%, respectively. Exchange average daily volume (ADV) during January was a new record of 38,908 contracts, up 234 YoY. January's record ADV surpassed the previous high mark of 35,785 contracts per day set in November 2010.
10:13AM Energy Focus wins $1 million Ohio development grant to develop high performance solar powered LED lighting solutions (EFOI) 1.05 +0.05 : http://finance.yahoo.com/marketupdate/inplay
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