Market Update 110202 4:30 pm : The major equity averages chopped along listlessly all session as big gains from the prior session were allowed to consolidate.
Stocks lacked direction from the start of trade. Many opted to take a breather after the S&P 500 surged 1.8% in the prior session to settle comfortably above key psychological levels that had not been seen since mid-2008. The lack of participation made for sluggish action and low share volume, which failed to surpass 1 billion shares on the NYSE.
Only a muted response was made to the latest ADP Employment Change, which indicated that 187,000 private payrolls were added in January. The consensus among economists polled by Briefing.com had called for 145,000 private payroll additions. Data for the prior month was revised downward to reflect 247,000 private payroll additions, which is the greatest increase since 2006.
The latest round of earnings was generally shrugged off by the broader market, but Electronic Arts (ERTS 18.09, +2.47) attracted attention with its bottom line beat and share repurchase plan. The stock soared to an eight-month high and helped lift the tech sector to a 0.3% gain; tech was the only sector to stage a gain.
Semiconductor stocks also offered support to the tech sector. Their collective 0.5% gain came despite disappointment over the latest results from Broadcom (BRCM 43.79, -2.60).
As for other announcements, Whirlpool (WHR 83.60, -1.82) and AFLAC (AFL 57.10, -1.43) missed consensus earnings calls, but Boston Scientific (BSX 6.85, -0.28) and Time Warner (TWX 35.10, +2.79) both exceeded expectations. Time Warner also announced an 11% dividend increase.
Financials fell to a 0.9% loss. They were the worst performing sector after they had staged one of the strongest moves in the prior session. Multi-line insurers were particularly weak today. Hartford Financial (HIG 27.93, -0.82) fell hard ahead of its quarterly report.
Outside of equities, the dollar caught a slight bid after it had set a two-month low in the prior session. It was up just 0.1% against a collection of competing currencies at the end of the trading day.
Treasuries failed to attract sustainable support. They had been up a bit in the early going, but inevitably fell. The retreat resulted in a 3.50% yield on the benchmark 10-year Note for the first time since December and a 30-year Bond yield of 4.65%, which is its highest level since April. Selling among Treasuries accelerated after it was learned that dealers had wanted to sell more than six times the amount of issues that the Fed was willing to buy back. Pressure eased into the close, though.
3:30 pm : The CRB Commodity Index advanced another 0.5% this session. That puts the Index at a new two-year high.
Cotton futures continued their dramatic climb. Future contracts closed with cotton priced 2.3% higher at $1.762 per pound. Meanwhile, sugar futures climbed 4.0% to hit $0.35 per pound, a level not seen since 1980.
Among metals, gold prices fell 0.6% to $1331.70 per ounce as silver slid 0.9% to $28.25 per ounce. Copper remained near record highs as it eked out a fractional gain to settle pit trade at $4.55 per pound.
Oil prices oscillated for the entire session, but they settled with a 0.3% gain at $91.03 per barrel. Little reaction was made to news that weekly oil inventory data showed a slightly larger-than-expected build of 2.59 million barrels. As for natural gas, it settled pit trade with a 2.0% gain at $4.43 per MMBtu. DJ30 +0.23 NASDAQ -1.45 SP500 -2.85 NASDAQ Adv/Vol/Dec 1134/1.75 bln/1461 NYSE Adv/Vol/Dec 1378/702 mln/1576
3:00 pm : The Dow is at a session high as it enters the final hour of the session. Though that may sound bullish, its gain is only slight.
Briefing.com will cover earnings announcements from about 80 different companies after the close. Around 70 more will be handled tomorrow morning. Newscorp (NWSA 15.88, +0.29), Visa (V 71.72, +1.02), MasterCard (MA 241.69, +3.54), Yum! Brands (YUM 47.62, +0.20), Blackstone (BX 16.55, +0.23), Cardinal Health (CAH 41.63, -0.32), CIGNA (CI 42.39, -0.52), CVS Caremark (CVS 34.72, -0.23), Dow Chemical (DOW 36.63, +0.27), Kellogg (K 50.40, +0.20), and Merck (MRK 33.75, -0.25) are among the more notable names to look forward to. DJ30 +11.65 NASDAQ +3.33 SP500 -1.90 NASDAQ Adv/Vol/Dec 1142/1.56 bln/1419 NYSE Adv/Vol/Dec 1438/618 mln/1507
2:30 pm : The stock market's drift today has left many uninspired and resulted in moderate participation. In turn, fewer than 600 million shares have traded hands on the NYSE, so far, with only 90 minutes remaining before the toll of the closing bell.
Though today's trading has been unexciting, it allows for gains in the prior session to be consolidated. The S&P 500 surged 1.8% yesterday for its strongest single-session surge in two months. Additionally, the move took stocks above key psychological levels that had not been seen since mid-2008.DJ30 +10.93 NASDAQ +2.14 SP500 -2.18 NASDAQ Adv/Vol/Dec 1105/1.44 bln/1443 NYSE Adv/Vol/Dec 1385/562 mln/1545
2:00 pm : Oil prices are back in positive territory to sport a 0.4% gain at $91.10 per barrel. The commodity has oscillated since pit trade began.
As for stocks they continue to chop along in lackluster fashion. Action has generally been unexciting all session.
Meanwhile, Treasuries remain mired in the red. Selling there recently took the yield on the 30-year Bond to 4.65%, which makes for its highest level since April 2010. Selling has accellerated since it was learned that dealers were looking to sell more than six times the amount of issues that the Fed was willing to buy back.DJ30 +0.07 NASDAQ -0.40 SP500 -3.19 NASDAQ Adv/Vol/Dec 1123/1.34 bln/1425 NYSE Adv/Vol/Dec 1378/520 mln/1544
1:30 pm : Semiconductor play Broadcom (BRCM 42.81, -3.58) is under heavy pressure after it reported last evening its latest quarterly results. Despite its weakness, other semiconductor stocks have found support, such that the Philadelphia Semiconductor Index is up 0.5%.DJ30 +9.42 NASDAQ +1.13 SP500 -1.99 NASDAQ Adv/Vol/Dec 1133/1.24 bln/1406 NYSE Adv/Vol/Dec 1391/472 mln/1490
1:05 pm : A lackluster follow up to the prior session's surge has left the major equity averages to trade in mixed fashion all session.
Yesterday the stock market rode a strong bid to its best level in more than two years, but many broad market participants have opted to take a bit of a breather today. That said, there hasn't been any concerted effort to take profits.
Only a slightly positive response was made to the latest ADP Employment Change, which indicated that 187,000 private payrolls were added in January. The report had little lasting effect, though.
Earnings have also failed to inspire action in the broad market. Among the more widely held names, Whirlpool (WHR 82.69, -2.73) and AFLAC (AFL 57.13, -1.40) both came short of the consensus earnings estimate, but Boston Scientific (BSX 6.77, -0.36) and Time Warner (TWX 34.99, +2.68) both beat on the bottom line. Time Warner complemented its report with news of an 11% dividend increase.
Electronic Arts (ERTS 17.90, +2.28) posted its own upside earnings surprise and added to its repurchase plan. Its shares have surged in response. That has helped prop up the tech sector, which is presently up 0.3%.
Energy stocks make up the only other sector to sport a gain. They are up 0.2%, even though oil prices are now in the red after a strong start. Oil prices are currently down 0.6% to $90.25 per barrel.
The dollar has turned higher after it had set a two-month low in the prior session. It is currently up 0.3% against a collection of competing currencies.
Despite the lackluster action among stocks today, Treasuries have turned lower. That has the yield on the benchmark 10-year Note creeping closer to 3.50%, which was last touched in mid-December. DJ30 +4.88 NASDAQ +0.28 SP500 -2.59 NASDAQ Adv/Vol/Dec 1120/1.15 bln/1415 NYSE Adv/Vol/Dec 1377/440 mln/1494
12:30 pm : Oil prices have reversed into the red. The commodity now trades with a 0.6% loss at $90.20 per barrel after it had been as high as $91.78 per barrel this morning. That downturn has undercut the energy sector, which is now flat after it had been up solidly earlier.
The dollar has moved to a session high against competing currencies. The greenback's current 0.3% gain only makes for its second advance in nine sessions. DJ30 -6.96 NASDAQ -0.90 SP500 -4.00 NASDAQ Adv/Vol/Dec 1068/1.04 bln/1431 NYSE Adv/Vol/Dec 1362/401 mln/1506
12:00 pm : The major equity averages remain mixed as financials (-0.6%) weigh on the S&P 500 and tech issues (+0.4%) help lift the Nasdaq. Meanwhile, the Dow remains mired near the neutral line.
Despite the generally lackluster action among stocks, Treasuries have failed to sustain any kind of a gain. The benchmark 10-year Note had traded with a lower yield earlier this morning, but recent selling has sent the Note to a session low and its yield to a session high of about 3.49%. DJ30 +1.97 NASDAQ +4.60 SP500 -2.51 NASDAQ Adv/Vol/Dec 1182/910 mln/1296 NYSE Adv/Vol/Dec 1492/359 mln/1333
11:30 am : Shares of retailers have come under increased pressure. As a group they are down 1.2% as 29 of the 31 names in the S&P 500 Retailing Index trade with losses -- only Best Buy (BBY 34.80, +0.40) and Amazon.com (AMZN 172.68, +0.57) have managed to put together gains.
Even AnnTaylor (ANN 21.87, -0.67) is down sharply in the face of news that the apparel and accessories retailer expects that its top line and bottom line for the fourth quarter will exceed the current Wall Street consensus. Shares of ANN are about 4% above the three-month low that they set last week. DJ30 -3.98 NASDAQ +1.34 SP500 -2.81 NASDAQ Adv/Vol/Dec 1083/790 mln/1343 NYSE Adv/Vol/Dec 1410/315 mln/1395
11:00 am : Stocks recently tried to turn higher again, but the S&P 500 was rebuffed at the neutral line. Its inability to push into positive territory has brought about another flurry of mild selling.
Energy stocks have managed to stage a nice gain, though. They are up 0.3% as refiners, up 2.5%, provide a strong push. A bounce by oil prices to a 0.8% gain at $91.50 per barrel has also helped.
Tech represents the only other sector that has managed to find higher ground. They are collectively up 0.2% amid strength in home entertainment software plays, which are up about 14% on the back of earnings from Electronic Arts (ERTS 17.93, +2.31). DJ30 -2.35 NASDAQ +3.36 SP500 -2.41 NASDAQ Adv/Vol/Dec 1172/652 mln/1240 NYSE Adv/Vol/Dec 1453/262 mln/1322
10:35 am : Commodities are mixed this morning, but the CRB Commodity Index has still managed to put together a 0.5% gain.
Crude oil prices are up about 0.6% at $91.35 per barrel. Their reaction to the latest weekly inventory figure has been muted. Inventories for the week ended January 28 reflected a draw of 2.59 million barrels, which is slightly more than the 2.50 million barrel build that had been widely expected.
Natural gas has put together an impressive advance in early pit trade. The energy component is presently up 1.0% at $4.39 per MMBtu.
Precious metals are under a bit of pressure. That has the price of gold down 0.2% to $1337.10 per ounce and silver prices down 0.4% to $28.42 per ounce. DJ30 +8.90 NASDAQ +5.98 SP500 -0.89 NASDAQ Adv/Vol/Dec 1230/497 mln/1106 NYSE Adv/Vol/Dec 1541/208 mln/1222
10:00 am : A bit of buying recently helped stocks push off of their opening lows. The effort briefly took both the Dow and the S&P 500 into positive ground, but a backslide has taken them back into the red.
Although energy stocks and tech stocks have managed to limit their losses, there really hasn't been any concerted form of leadership this morning. Instead, the majority of the major sectors are down with modest losses.
09:45 am : Stocks have slipped to modest losses in the first few minutes of trade. Pressure is sharpest among airline stocks, which are collectively down 2.0%, according the the Amex Airline Index.
Tech issues have managed to limit losses. They are collectively down only fractionally, which makes tech the best performing sector in the early going. Electronic Arts (ERTS 17.72, +2.10) is currently a leader in the space following an upside earnings surprise. DJ30 -6.85 NASDAQ -3.28 SP500 -3.39 NASDAQ Adv/Vol/Dec 903/170 mln/1282 NYSE Adv/Vol/Dec 1090/95 mln/1525
09:15 am : S&P futures vs fair value: -5.00. Nasdaq futures vs fair value: -7.70. The prior session saw stocks swing sharply above key psychological levels for their best finish since mid-2008. However, stock futures suggest that early participants might be interested in taking some money off of the table. As such, a slightly lower start to trade for Wednesday appears to be in order. Headlines haven't really done anything to convince traders to continue buying, although the ADP Employment Change for January proved better than expected and earnings have generally been solid. Despite the many strong reports this earnings season, there have been a few exceptions. Whirlpool (WHR) and AFLAC (AFL) are among the most recent to have missed the consensus earnings estimate. The dollar has caught a bid for only the second time in nine sessions; it is up just 0.2% after falling to a two-month low yesterday.
09:05 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -6.70. Futures for the S&P 500 have slipped to morning lows, but weakness remains relatively contained. Germany's DAX is down 0.2% at the moment. Infineon Tech has helped provide leadership to the tech sector, which is presently up 1.5%. However, its strength has been offset by weakness elsewhere. In particular, industrial plays like Man SE and Siemens (SI) have acted as a drag on things. Industrial stocks are collectively down 1.8%. France's CAC is currently off by 0.4%. Schneider Electric and Total (TOT) have weighed heavily on action. France Telecom has been a source of support, though. Britain's FTSE has spent the session trading with a modest gain; it is currently up 0.4%. HSBC (HBC), Rio Tinto (RIO), and BHP Billiton (BHP) have been the biggest drivers of the move. Pharmaceutical plays AstraZeneca (AZN) and GlaxoSmithKline (GSK) have hampered things, however. As for data, the United Kingdom Construction PMI for January came in at 53.7, which is up from the 49.1 that was posted in the prior month.
A few of Asia's major averages advanced overnight to catch up with Wall Street's prior session spike. Japan's Nikkei swung to a 1.8% gain as more than 90% of its 225 issues settled higher. Fast Retailing was one of the leading movers; it spiked 2.8% for its best single-session move in two weeks. Softbank and TDK Corp were also strong. Fanuc Corp was atop the short list of those that faltered. China's Shanghai Composite was closed to celebrate the arrival of the Lunar New Year, but Hong Kong was open for trade. The Hang Seng rode a broad-based bid to a 1.8% gain. Of its 45 members, only China Unicom failed to find higher ground. Instead, the stock finished flat. HSBC, Hutchison Whampoa, and Cheung Kong were primary leaders in the advance. They climbed 2.1%, 5.5%, and 5.7%, respectively.
08:30 am : S&P futures vs fair value: -3.70. Nasdaq futures vs fair value: -5.40. Stock futures have slipped a bit since making their way toward the neutral line following a better-than-expected ADP Employment Change report for January. The consensus among economists polled by Briefing.com had called for 145,000 private payroll positions to be added in January, but actual additions were reported to have totaled 187,000 by the ADP Employment Change. Still, that's less than the downwardly revised 247,000 additions for the prior month. The December tally still stands as the greatest since 2006, though.
08:05 am : S&P futures vs fair value: -2.80. Nasdaq futures vs fair value: -3.90. Stock futures are flat to slightly lower following the prior session's surge, which was the strongest single-day bounce in two months. Meanwhile, the dollar has made a minor move higher after it fell sharply to a two-month low yesterday. Earnings have been a bit mixed, so far. Among the more widely held names that have already reported, Whirlpool (WHR) and AFLAC (AFL) came short of the consensus earnings estimate, but Electronic Arts (ERTS), Time Warner (TWX), and Boston Scientific (BSX) beat on the bottom line. The economic calendar is a bit light today with the ADP Employment Change on its way in just a few minutes (8:15 AM ET). Weekly oil inventory data is due later this morning (10:30 AM ET).
07:48 am : [BRIEFING.COM] S&P futures vs fair value: -1.40. Nasdaq futures vs fair value: -1.40.
6:31PM Callon Petroleum reaffirms full year production (CPE) : ...
6:28PM Internet Capital announces execution of merger agreement between Metastorm and OpenText (ICGE) 13.02 +0.26 : Co announced that one of its core equity companies, Metastorm Inc., a provider of Business Process Management, Business Process Analysis, and Enterprise Architecture software, has entered into a definitive merger agreement with OpenText Corp (OTEX), an enterprise software c and leader in enterprise content management. Under the terms of the agreement, OpenText will acquire Metastorm for $182 mln in cash. The transaction is subject to a number of closing conditions and is expected to be completed late in Q1 of 2011. ICG's share of the cash proceeds related to the sale of Metastorm will be ~$53 mln, ~$1.5 mln of which will be subject to a customary indemnification holdback. Upon closing of the transaction, ICG will record a gain of ~$24 mln on the sale of its Metastorm stake; the release of any escrowed proceeds to ICG will result in additional gains. ICG does not expect to owe any income taxes in connection with the transaction.
6:06PM Adobe recommends rejection of below-market mini-tender offer by TRC Capital Corp (ADBE) 33.43 -0.08 : Adobe Systems Incorporated (Nasdaq:ADBE) has been notified of an unsolicited "mini-tender" offer by TRC Capital Corp to purchase up to 3 million shares, or less than 0.58 percent, of outstanding Adobe common stock at a price of $32.00 per share in cash. TRC's offer price is approximately 4.53 percent less than the $33.52 closing price of Adobe common stock on Jan. 26, 2011, the day before the offer commenced.
6:06PM Diamond Offshore announces order for second ultra-deepwater drillship (DO) 72.35 +1.10 : Co announced that a subsidiary, Diamond Offshore Drilling Limited, has exercised its option to build a second ultra-deepwater drillship with Hyundai Heavy Industries Co., Ltd. with delivery scheduled for Q4 of 2013. Total cost, including commissioning, spares and project management, is expected to be ~$590 mln and is anticipated to be paid out of cash flow and available funds. Diamond Offshore has also obtained from Hyundai a fixed-price option for the purchase of a third drillship which the Co has the right to exercise at any time before the end of the first quarter of 2011. The two new drillships are planned to be named Ocean BlackHawk and Ocean BlackHornet.
6:04PM MDU Resources beats by $0.07, misses on revs; guides FY11 EPS below consensus (MDU) 21.00 -0.43 : Reports Q4 (Dec) earnings of $0.40 per share, excluding non-recurring items, $0.07 better than the Thomson Reuters consensus of $0.33; revenues rose 2.6% year/year to $1.04 bln vs the $1.12 bln consensus. Co issues downside guidance for FY11, sees EPS of $1.05-1.30 vs. $1.40 Thomson Reuters consensus. The company expects the approximate percentage of 2011 earnings per common share by quarter to be: Q1, 15%, Q2- 20%, Q3, 35% and Q4 30%.
6:00PM Mueller Water announced that Winston-Salem and Forsyth County select co to upgrade metering system (MWA) 3.67 -0.74 : Winston-Salem and Forsyth County, N.C., have selected Mueller Systems, a leading innovator in water meters, metering systems and water management technology, to upgrade their metering infrastructure with a state-of-the-art Automated Meter Reading (AMR) system. Mueller Systems is a subsidiary of Mueller Water Products (MWA), a North American provider of water infrastructure products and services.
6:00PM Fluor's Board Elects David Seaton Chief Executive Officer (FLR) 69.48 +0.01 : Fluor Corp (FLR) announced that the co's board of directors has elected David T. Seaton to the position of CEO and co director, consistent with the transition plan previously announced. Seaton succeeds Alan L. Boeckmann who retires as CEO. Boeckmann will continue to serve the company as the non-executive chairman of Fluor's board of directors. All changes are effective today, February 2, 2011, and were approved during the co's board of directors' meeting in Dallas.
5:54PM Northwest Pipe Co Tubular Products Group announces Atchison, Kansas Facility Expansion (NWPX) 22.08 -1.24 : Co has plans to expand its Atchison, Kansas mill facility. The Atchison location is home to one of three Tubular Products Group locations. The facility currently operates two pipe mills with a product range of 3.5 inches to 16 inches outside diameter and wall thickness up to 0.281 inches. The expansion, anticipated to be complete by the fourth quarter of 2011 will increase the production capacity by more than 50 percent, improve productivity and enable the Group to produce product up to 0.375 inch wall.
5:54PM Equity Res beats by $0.02, misses on revs; guides Q1 FFO in-line; guides FY10 FFO in-line (EQR) 54.80 +0.20 : Reports Q4 (Dec) funds from operations of $0.60 per share, $0.02 better than the Thomson Reuters consensus of $0.58; revenues rose 12.1% year/year to $517.1 mln vs the $524.8 mln consensus. Co issues in-line guidance for Q1, sees FFO of $0.53-0.57 vs. $0.56 Thomson Reuters consensus. Co issues in-line guidance for FY10, sees FFO of $2.40-2.50 vs. $2.43 Thomson Reuters consensus.
5:47PM Alexco receives balance of assays from onek zinc-silver deposit drill program; mineralization extended (AXU) 6.92 +0.07 : Co announce results from 2010 follow-up core drilling at the Onek historical mine area, Keno Hill Silver District in Canada's Yukon Territory. Follow-up exploration drilling southwest of the historical Onek underground and open pit mine has extended the zone of significant indium-bearing zinc-silver and silver-zinc mineralization an additional 100 meters along strike, bringing the total strike length of mineralization to a minimum of 500 meters. A resource estimate for the Onek deposit is currently being prepared. Drilling at Onek by Alexco now covers a strike length in excess of 500 meters along the Onek mineralized structural zone, located adjacent to the historical Onek mine where reported past production totaled 93,000 tons averaging 13.77 ounces per ton silver, 5.54% lead and 3.43% zinc. NE Onek/Keno Hill Drilling Five step-out holes were drilled in late 2010 on Keno Hill, exploring for possible extensions of the Onek mineralized structural zone. Preliminary McQuesten Valley Drilling A reverse circulation drill program covering three areas within the McQuesten Valley was completed in October. The primary goals of the program were to determine depth to bedrock and obtain stratigraphic information to assist in geologic modeling. Thirty-four holes were drilled with depths ranging from 3.05 to 114.30 meters. Approximately 45% of the holes reached bedrock with one (KR10-005) intersecting 1.52 meters grading 1.2 ounces per ton silver hosted in schist and quartzite. Evaluation of the results is in progress.
5:47PM Atwood Oceanics beats by $0.03, reports revs in-line (ATW) 40.98 +00.36 : Reports Q1 (Dec) earnings of $0.81 per share, $0.03 better than the Thomson Reuters consensus of $0.78; revenues fell 10.9% year/year to $146.3 mln vs the $145.9 mln consensus.
5:40PM Tetra Tech beats by $0.03, reports revs in-line; guides Q2 EPS below consensus, revs in-line; raises FY11 EPS in-line, revs in-line (TTEK) 24.22 -0.33 : Reports Q1 (Dec) earnings of $0.36 per share, $0.03 better than the Thomson Reuters consensus of $0.33; revenues rose 18.1% year/year to $405.6 mln vs the $406.4 mln consensus. Co issues mixed guidance for Q2, sees EPS of $0.25-0.29 vs. $0.31 Thomson Reuters consensus; sees Q2 revs of $375-405 mln vs. $392.62 mln Thomson Reuters consensus. Co raises guidance for FY11, sees EPS of $1.32-1.42 vs. $1.38 Thomson Reuters consensus, up from $1.28-1.40; sees FY11 revs of $1.6-1.7 bln vs. $1.7 bln Thomson Reuters consensus.
5:37PM Regency Centers beats by $0.02 (REG) 43.28 -0.28 : Reports Q4 (Dec) funds from operations of $0.55 per share, excluding non-recurring items, $0.02 better than the Thomson Reuters consensus of $0.53.
5:22PM On Track Innovations announces proposed public offering (OTIV) 3.13 -0.23 : OTIV announced that it intends, subject to market and other conditions, to offer its ordinary shares in a firm commitment public offering pursuant to its existing shelf registration statement under the Securities Act of 1933. The co also intends to grant the underwriters of the offering a 30-day option to purchase additional 15% of the ordinary shares offered in the public offering to cover over-allotments, if any. Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group (RODM), is acting as sole book-running manager. Merriman Capital, Inc. and Chardan Capital Markets, LLC are acting as co-managers in connection with the offering.
5:22PM Unitrin announces increase in quarterly dividend; also authorizes $300 mln repurchase program (UTR) 27.43 -0.46 : Co announced that its Board of Directors has declared a quarterly dividend of $0.24 per share, an increase of $0.02 per share over the prior quarter. The dividend is payable on February 28, 2011 to its shareholders of record as of February 11, 2011. In addition, UTR announced that its Board of Directors has authorized the co to repurchase up to $300 mln worth of its common stock.
5:16PM American Capital Achieves a Gain of $11 Million and Receives $72 Million in Proceeds from triVIN Exit (ACAS) : ...
5:10PM Bristow Group reports Q3 results, beats on revs (BRS) 51.73 -0.22 : Reports Q3 (Dec) earnings of $0.71 per share, ex-items, may not compare to the Thomson Reuters consensus of $0.85; revenues rose 4.8% year/year to $317.9 mln vs the $313.6 mln consensus.
5:10PM Merck says data from the pivotal Phase III study with GARDASIL in males were published in issue of the New England Journal of Medicine (MRK) 33.76 -0.18 : Co that data from the pivotal Phase III study with GARDASIL in males were published in the February 3 issue of the New England Journal of Medicine. In this study, GARDASIL was 89 percent effective against human papillomavirus types 6- and 11- related genital warts in males aged 16 through 26. This Phase III study is the only study to demonstrate the efficacy of an HPV vaccine in males, and provided data that supported the FDA approval of GARDASIL in October 2009 for the prevention of genital warts caused by HPV types 6 and 11 in boys and men ages 9 to 26 years.
5:05PM Schweitzer-Mauduit beats by $0.06, misses on revs (SWM) 59.95 +0.15 : Reports Q4 (Dec) earnings of $1.06 per share, excluding non-recurring items, $0.06 better than the Thomson Reuters consensus of $1.00; revenues fell 2.7% year/year to $182.8 mln vs the $187.7 mln consensus. "Our fourth quarter financial results reflect a relatively stable business and economic environment, with some lessening of unfavorable wood pulp inflation but continued unfavorable foreign currency exchange impacts. The full year improvement in SWM earnings reflects the benefit of significant cost reduction, in part from past restructuring actions, an improved product mix and reduced non-manufacturing expenses more than offsetting increased wood pulp prices and unfavorable foreign currency exchange impacts. Sales and production volumes were sufficient during the fourth quarter of 2010, unlike the prior year fourth quarter, to allow for increased capacity utilization. Operationally, performance across SWM's production sites improved during the fourth quarter."
5:04PM Cypress Sharpridge Investments misses by $0.13, misses on revs (CYS) 13.10 +0.00 : Reports Q4 (Dec) earnings of $0.25 per share, $0.13 worse than the Thomson Reuters consensus of $0.38; revenues rose 53.5% year/year to $25 mln vs the $32.6 mln consensus.
5:03PM CIT Group announced that it will restate its financial statements for each of the first three quarters of 2010 (CIT) 47.51 -0.83 : Co announced that it will restate its financial statements for each of the first three quarters of 2010. The effect of the restatement from the revised results that were included in the Company's September 30, 2010 Form 10-Q, is an increase in net income of approximately $25 million for the nine months ended September 30, 2010, resulting in net income of approximately $445 million for that period. Net income for the quarters ended March 31st and June 30th of 2010 will increase by approximately $30 million and $10 million, respectively, and net income for the quarter ended September 30, 2010 will decrease by approximately $15 million. The December 31, 2009 balance sheet will also be revised. The combined impact of these changes is an increase of approximately $0.10 per share to the previously reported book value and no change to the previously reported tangible book value, both as of September 30, 2010.
5:01PM MoneyGram and Visa (V) announced the launch of MoneyGram's first cash-to-Visa account program for remittances from the United States to Mexico. (MGI) 2.70 : MGI and Visa (V) announced the launch of MoneyGram's first cash-to-Visa account program for remittances from the United States to Mexico. The program allows consumers to visit any of the 35,000 MoneyGram locations in the U.S. to send funds directly to eligible Visa accounts in Mexico.
5:01PM Green Dot changes time of fourth quarter and full year 2010 earnings conference call -- moves up to 4:30 from 5:00 pm on Thursday, 2/10 (GDOT) 62.29 -0.93 : Co announced that it has changed the time of its fourth quarter and full year 2010 earnings conference call previously scheduled for 5:00pm ET on Thursday, February 10, 2011. The call will now be at 4:30pm ET on Thursday, February 10, 2011.
4:58PM Spartan Stores reports EPS in-line, revs in-line (SPTN) 15.08 +0.38 : Reports Q3 (Dec) adjusted earnings of $0.26 per share, in-line with the Thomson Reuters consensus of $0.26; revenues fell 0.6% year/year to $782.3 mln vs the $775.4 mln consensus. Co expects capital expenditures for fiscal 2011 to range from $34.0 million to $35.0 million with depreciation and amortization ranging from $35.0 million to $36.0 million and total interest expense to approximate $15.0 million to $15.5 million.
4:48PM Assurant beats by $0.10, misses on revs (AIZ) 39.10 -0.74 : Reports Q4 (Dec) earnings of $1.08 per share, excluding non-recurring items, $0.10 better than the Thomson Reuters consensus of $0.98; revenues fell 3.5% year/year to $2.11 bln vs the $2.16 bln consensus.
4:47PM Thor Industries sees Q2 sales of $524.6 mln vs $471.88 mln consensus (THO) 37.01 -0.70 : Co issues upside guidance for Q2 (Jan), sees Q2 (Jan) revs of $524.6 mln vs. $471.88 mln Thomson Reuters consensus. Co says RV sales were $436 mln up 30% from $335.7 mln last year. Consolidated sales in the six months were $1.13 bln, up 21% from $932 mln last year. Cash, cash equivalents and investments on January 31, 2011 were $98 million, lower due to increased working capital utilization tied to RV production ahead of the spring selling season, and greater capital expenditures to augment and upgrade production facilities. Consolidated backlog on January 31, 2011 was $689 million, compared to $711 million last year. RV backlog was $467 million, up 4% from $449 million last year. Both consolidated and RV backlogs on January 31, 2011 include Heartland RV. Bus backlog was $222 million versus $262 million last year.
4:47PM SFN Group beats by $0.04, reports revs in-line (SFN) 10.41 +0.15 : Reports Q4 (Dec) earnings of $0.17 per share, $0.04 better than the Thomson Reuters consensus of $0.13; revenues rose 20.4% year/year to $549 mln vs the $547.9 mln consensus. Gross profit margin of 28.2% is up 350 basis points from the same period last year, primarily a result of increased pay/bill spreads, growth in higher-margin outsourcing and permanent placement services and lower payroll taxes... Revenue trends in the first four weeks of January 2011 are consistent with normal seasonal pullback in revenues in the first quarter of approximately 5% to 8% compared with the fourth quarter of 2010. Based on continued improvements in industry trends and anticipated growth in our business, we expect to further improve our operating leverage and increase our adjusted EBITDA margin by 50 to 90 basis points over the course of the year, generating a full-year adjusted EBITDA margin of between 3.5% and 3.9% of revenue in 2011.
4:46PM InfoSpace announces a 3-year agreement to continue the delivery of search results and text-based advertising listings from Yahoo! (YHOO) to the InfoSpace network of metasearch properties and affiliates (INSP) 8.42 +0.07 :
4:41PM Meritage beats by $0.01, beats on revs (MTH) 23.27 +0.01 : Reports Q4 (Dec) loss of $0.03 per share, $0.01 better than the Thomson Reuters consensus of ($0.04); revenues fell 24.9% year/year to $214.6 mln vs the $206.1 mln consensus. Fourth quarter 2010 net orders for 713 homes were 15% greater than the 621 sales recorded in the prior year, despite 4% fewer average active communities year over year.
4:41PM Core-Mark guides FY11 revs of $7.7 bln vs. $7.75 bln Thomson Reuters consensus (CORE) 33.95 -0.27 : Co anticipates continued penetration of the fresh product offering, increases in its vendor consolidation initiative, and market share gains. The Company also anticipates continued decline in carton volume, offset by higher cigarette taxes and manufacturer price increases. This guidance represents an increase of approximately 8% over 2010 revenue guidance of $7.1 bln and includes the incremental sales of the co's most recent acquisition. There are no extraordinarily large customer wins or losses reflected in this guidance. Management estimates its capital expenditures will total $24 mln in 2011. ~$5 mln of this expenditure will be used to consolidate an existing division into fewer buildings to better serve its expanding customer base. Another $3 mln will be used to expand the Co's cooler/freezer capacity and $2 mln to invest in its tri-temperature fleet and loaned equipment programs to fund its "Fresh & Vendor Consolidation" initiatives. The remainder of the capital expenditure estimate is composed predominantly of maintenance investments that would be expected in the normal course of business.
4:41PM Unifi reports EPS of $0.27 vs. $0.10 in 2Q10; revs rose 13% YoY to $161 mln - no ests (UFI) 17.12 +0.08 :
4:40PM Exponent Inc beats by $0.07 (EXPO) 37.03 -0.40 : Reports Q4 (Dec) earnings of $0.41 per share, $0.07 better than the Thomson Reuters consensus of $0.34; revenues rose 20.0% year/year to $62.6 mln vs the $50.6 mln consensus. "As we look at 2011, we expect growth in revenue before reimbursements for the first half of the year to be in the high single to low double digits and the full year growth to be in the mid single digits. This takes into consideration the high hurdle created by the strong performance we had in the back half of 2010 as the result of some exceptionally large projects. As we move to the next phase of these projects and continue to expand our capabilities we expect utilization for 2011 to be in the high sixties and as a result we expect a slight decrease in the EBITDA1 margin."
4:40PM MKS Instruments beats by $0.01, misses on revs; guides Q1 EPS in-line, revs above consensus (MKSI) 29.70 +0.19 : Reports Q4 (Dec) earnings of $0.70 per share, $0.01 better than the Thomson Reuters consensus of $0.69; revenues rose 53.4% year/year to $219 mln vs the $222.8 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.62-0.77, excluding non-recurring items, vs. $0.65 Thomson Reuters consensus; sees Q1 revs of $220-240 mln vs. $218.71 mln Thomson Reuters consensus.
4:39PM Markel Corp reports Q4 results, beats on revs (MKL) 401.7 -2.05 : Reports Q4 (Dec) earnings of $14.37 per share, may not compare to the Thomson Reuters consensus of $4.38; revenues rose 11.0% year/year to $611.9 mln vs the $559.8 mln consensus.
4:38PM Actuate misses by $0.01, misses on revs (BIRT) 5.81 +0.11 : Reports Q4 (Dec) earnings of $0.11 per share, $0.01 worse than the Thomson Reuters consensus of $0.12; revenues rose 3.5% year/year to $32.3 mln vs the $33.1 mln consensus. License revenues for the fourth quarter of 2010 were $11.8 mln, up 15% when compared with $10.2 mln in the year-ago quarter. Maintenance revenues for the quarter were $18.5 mln, compared with $19.6 mln reported in the same quarter last year. Professional services revenues for the fourth quarter of 2010 totaled $2.0 mln, compared with $1.4 mln in the fourth quarter of 2009.
4:38PM CACI Intl beats by $0.11, reports revs in-line; guides FY11 EPS above consensus, revs above consensus (CACI) 55.50 -0.83 : Reports Q2 (Dec) earnings of $1.08 per share, $0.11 better than the Thomson Reuters consensus of $0.97; revenues rose 11.7% year/year to $867.3 mln vs the $864.9 mln consensus. Co raises guidance for FY11, sees EPS of $4.05-4.20 up from $$3.90-4.10 vs. $4.00 Thomson Reuters consensus; sees FY11 revs of $3.5-3.63 bln up from $3.45-3.6 bln vs. $3.34 bln Thomson Reuters consensus.
4:37PM Cincinnati Fincl beats by $0.34, beats on revs (CINF) 32.58 -0.30 : Reports Q4 (Dec) operating income of $0.70 per share, excluding non-recurring items, $0.34 better than the Thomson Reuters consensus of $0.36; revenues fell 17.4% year/year to $936 mln vs the $905.3 mln consensus.
4:37PM Dun & Bradstreet beats by $0.04, reports revs in-line (DNB) 85.47 : Reports Q4 (Dec) earnings of $1.92 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $1.88; revenues rose 3.9% year/year to $481.7 mln vs the $478 mln consensus.
4:36PM LRAD reports Q1 EPS of ($0.01) vs. $0.06 in 1Q10; revs of $2.2 mln, down 58% from 1Q10 - no ests (LRAD) 2.38 +0.15 : "Although fiscal Q1 revenues were lower than expected, we're scheduled to deliver the $12.8 million in back orders plus additional LRAD orders this quarter... We anticipate that our trend of record fiscal year revenues will remain intact in 2011 while our quarterly revenues will remain uneven as we build diverse markets for our proprietary Long Range Acoustic Device systems."
4:34PM IDEX Corp beats by $0.03, beats on revs; guides Q1 EPS in-line; guides FY11 EPS in-line (IEX) 40.34 -0.07 : Reports Q4 (Dec) earnings of $0.54 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.51; revenues rose 18.0% year/year to $405.2 mln vs the $378 mln consensus. Co issues in-line guidance for Q1, sees EPS of $0.52-0.54 vs. $0.53 Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $2.23-2.33 vs. $2.23 Thomson Reuters consensus.
4:33PM Brightpoint beats by $0.07, beats on revs; guides FY11 EPS above consensus (CELL) 9.52 +0.05 : Reports Q4 (Dec) earnings of $0.34 per share, $0.07 better than the Thomson Reuters consensus of $0.27; revenues rose 23.8% year/year to $1.12 bln vs the $1.01 bln consensus. Co issues upside guidance for FY11, sees EPS of $0.90-1.05 vs. $0.89 Thomson Reuters consensus.
4:32PM Meru Networks reports EPS in-line, beats on revs (MERU) : Reports Q4 (Dec) earnings of $0.02 per share, in-line with the Thomson Reuters consensus of $0.02; revenues rose 17.1% year/year to $22.6 mln vs the $22.2 mln consensus.
4:32PM QuinStreet beats by $0.03, reports revs in-line (QNST) 23.13 +0.31 : Reports Q2 (Dec) earnings of $0.25 per share, excluding non-recurring items, $0.03 better than the Thomson Reuters consensus of $0.22; revenues rose 26.8% year/year to $97.6 mln vs the $97.6 mln consensus.
4:31PM Cymer beats by $0.40, beats on revs; guides Q1 revs above consensus (CYMI) 50.01 +0.54 : Reports Q4 (Dec) earnings of $1.08 per share, $0.40 better than the Thomson Reuters consensus of $0.68; revenues rose 52.4% year/year to $146.9 mln vs the $143.6 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $150 mln vs. $148.14 mln Thomson Reuters consensus.
4:30PM OGE Energy: Silver Spring expands partnership with OG&E on customer engagement and demand response (OGE) 46.24 -0.30 :
4:29PM Central Garden misses by $0.06, beats on revs (CENT) 9.88 -0.13 : Reports Q1 (Dec) loss of $0.16 per share, $0.06 worse than the Thomson Reuters consensus of ($0.10); revenues rose 4.6% year/year to $281.7 mln vs the $274.1 mln consensus. The Co historically reports a loss in its first fiscal quarter given the seasonal nature of the lawn and garden category.
4:29PM Hillenbrand misses by $0.01, misses on revs (HI) 21.96 +0.14 : Reports Q1 (Dec) earnings of $0.44 per share, $0.01 worse than the Thomson Reuters consensus of $0.45; revenues rose 30.7% year/year to $211 mln vs the $214.6 mln consensus.
4:29PM PetroQuest Energy announces that co ended 2010 with ~193 Bcfe of proved oil and gas reserves having a pre-tax discounted value of ~$256 million (PQ) 7.79 -0.10 : This represents an approximate 24% increase in proved reserves from 2009 after adjusting for the sale of approximately 29 Bcfe of proved undeveloped reserves in May 2010 in connection with the co's Woodford joint venture.
4:28PM Solera beats by $0.01, misses on revs; guides FY11 EPS in-line, revs below consensus (SLH) 52.53 +0.08 : Reports Q2 (Dec) earnings of $0.60 per share, $0.01 better than the Thomson Reuters consensus of $0.59; revenues rose 3.0% year/year to $168.2 mln vs the $170.9 mln consensus. Co issues raises guidance for FY11, sees EPS of $2.31-2.35 vs. $2.33 Thomson Reuters consensus up from $2.27-2.33 previously; sees FY11 revs of $668-672 mln vs. $672.26 mln Thomson Reuters consensus up from 666-672 mln previously.
4:27PM NetList's HyperCloud Memory achieves compatibility certification on Intel server platforms from computer memory test labs (NLST) 2.16 -0.03 :
4:27PM Open Text to acquire Metastorm for $182 mln (OTEX) 50.80 +0.65 : Co announces it has agreed to acquire Metastorm, a provider of Business Process Management (BPM), Business Process Analysis (BPA), and Enterprise Architecture (EA) software for aligning strategy with execution. Metastorm stockholders will receive $182 million in cash. The transaction is expected to close before March 31.
4:27PM Mattson misses by $0.06 (MTSN) 2.40 : Reports Q4 (Dec) ($0.16), $0.05 worse than the Thomson Reuters consensus of ($0.11); revenues fell 11.3% year/year to $41.3 mln vs the $40.9 mln consensus.
4:26PM MF Global designated primary dealer by the Federal Reserve Bank of New York (MF) 8.48 -0.10 :
4:26PM Cadence Design beats by $0.03, beats on revs; guides Q1 EPS above consensus, revs in-line; guides FY11 EPS in-line, revs above consensus (CDNS) 8.83 +0.06 : Reports Q4 (Dec) earnings of $0.07 per share, $0.03 better than the Thomson Reuters consensus of $0.04; revenues rose 13.2% year/year to $249 mln vs the $237.9 mln consensus. Co issues mixed guidance for Q1, sees EPS of $0.06-0.08 vs. $0.06 Thomson Reuters consensus; sees Q1 revs of $225-265 mln vs. $241.63 mln Thomson Reuters consensus. Co issues mixed guidance for FY11, sees EPS of $0.30-0.40 vs. $0.35 Thomson Reuters consensus; sees FY11 revs of $1.03-1.07 bln vs. $1.02 bln Thomson Reuters consensus.
4:26PM Lincoln National misses by $0.07, reports revs in-line (LNC) 29.66 -0.66 : Reports Q4 (Dec) earnings of $0.82 per share, excluding non-recurring items, $0.07 worse than the Thomson Reuters consensus of $0.89; revenues rose 10.8% year/year to $2.66 bln vs the $2.67 bln consensus. Total Account Balances Rise 11% to $157 billion Reflecting Improved Markets and Positive Net Flows Consolidated Deposits of $5.5 Billion up 12% in the Quarter, Full Year of $20.9 billion up 6%. As of December 31, 2010, the book value per share of common stock, including accumulated other comprehensive income ("AOCI"), was $40.54 compared to $36.02 a year ago. Book value per share, excluding AOCI, was $38.17, compared to $36.89 a year ago.
4:25PM BMC Software misses by $0.01, beats on revs; reaffirms FY11 EPS guidance (BMC) 48.20 -0.17 : Reports Q3 (Dec) earnings of $0.79 per share, $0.01 worse than the Thomson Reuters consensus of $0.80; revenues rose 6.3% year/year to $540 mln vs the $528.8 mln consensus. Co reaffirms guidance for FY11, sees EPS of $2.92-3.02 vs. $3.00 Thomson Reuters consensus. The company also expects full year fiscal 2011 cash flow from operations to be between $710 million and $760 million, an increase from its prior expectation of $675 million to $725 million.
4:25PM Jacobs awarded a contract from Saudi Aramco Lubricating Oil Refining; also won contract to provide Engineering Services for I-69 project in Indiana worth ~$83.9 mln (JEC) 52.13 -0.40 :
4:22PM News Corp beats by $0.01, reports revs in-line (NWSA) 16.00 +0.40 : Reports Q2 (Dec) earnings of $0.29 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.28; revenues rose 0.9% year/year to $8.76 bln vs the $8.7 bln consensus.
4:22PM International Coal misses by $0.02, misses on revs (ICO) 9.31 -0.22 : Reports Q4 (Dec) earnings of $0.05 per share, $0.02 worse than the Thomson Reuters consensus of $0.07; revenues rose 7.5% year/year to $264.4 mln vs the $295.2 mln consensus. Outlook: The Company has updated its guidance to reflect modifications to its production mix and the global economic conditions affecting the coal market: For 2011, the Company expects to produce and sell between 16.1 million and 16.7 million tons of coal, including 3.1 million to 3.5 million tons of metallurgical coal. The average selling price is projected to be $73.00 per ton to $77.00 per ton, with an anticipated average cost of $55.00 to $57.00 per ton, excluding selling, general and administrative expenses... For 2012, the Company expects to produce and sell between 16.5 million and 17.5 million tons of coal, including 3.3 million to 3.7 million tons of metallurgical coal.
4:22PM Shutterfly beats by $0.14, beats on revs; guides Q1 EPS above consensus, revs in-line; guides FY11 EPS above consensus, revs above consensus (SFLY) 34.31 +0.30 : Reports Q4 (Dec) earnings of $1.09 per share, $0.14 better than the Thomson Reuters consensus of $0.95; revenues rose 26.8% year/year to $166.2 mln vs the $154.5 mln consensus. Co issues mixed guidance for Q1, sees EPS of -$0.14- -$0.17 vs. ($0.17) Thomson Reuters consensus; sees Q1 revs of $52-53 mln vs. $52.24 mln Thomson Reuters consensus. Co issues upside guidance for FY11, sees EPS of $1.16-1.24 vs. $0.67 Thomson Reuters consensus; sees FY11 revs of $363-373 mln vs. $343.43 mln Thomson Reuters consensus.
4:22PM Mattson misses by $0.05, reports revs in-line (MTSN) 2.40 +0.00 : Reports Q4 (Dec) loss of $0.16 per share, $0.05 worse than the Thomson Reuters consensus of ($0.11); revenues rose 130.2% year/year to $41.3 mln vs the $40.9 mln consensus.
4:22PM Measurement Specialties beats by $0.02, reports revs in-line (MEAS) 28.10 -0.11 : Reports Q3 (Dec) earnings of $0.49 per share, $0.02 better than the Thomson Reuters consensus of $0.47; revenues rose 33.8% year/year to $71.7 mln vs the $71.2 mln consensus.
4:21PM 99 Cents Only reports EPS in-line, misses on revs (NDN) 14.80 -0.03 : Reports Q3 (Dec) earnings of $0.38 per share, in-line with the Thomson Reuters consensus of $0.38; revenues rose 1.5% year/year to $354.1 mln vs the $367.9 mln consensus.
4:21PM Navios Maritime Acquisition commences offer to exchange $400 mln notes due 2017 (NNA) 4.40 +0.01 :
4:20PM VeriSign has been selected by the U.S. General Services Administration to operate the nation's mission-critical domain name registry for .gov (VRSN) 34.03 -0.12 :
4:19PM Global Partners to offer 2.3 mln common shares (GLP) 28.67 +0.03 : BofA Merrill Lynch, Barclays Capital and J.P. Morgan will act as joint book-running managers for the offering.
4:18PM Con-way misses by $0.07, misses on revs (CNW) : Reports Q4 (Dec) earnings of $0.02 per share, $0.07 worse than the Thomson Reuters consensus of $0.09; revenues rose 9.0% year/year to $1.2 mln vs the $1220.3 mln consensus.
4:18PM Intersil misses by $0.01, misses on revs; guides Q1 EPS below consensus, revs below consensus (ISIL) 14.98 -0.42 : Reports Q4 (Dec) earnings of $0.17 per share, $0.01 worse than the Thomson Reuters consensus of $0.18; revenues rose 9.4% year/year to $194.4 mln vs the $207.1 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.13-0.16 vs. $0.17 Thomson Reuters consensus; sees Q1 revs of $192-202 mln vs. $202.94 mln Thomson Reuters consensus.
4:18PM MKS Instruments awarded $10 mln Follow-On Order for Solar Applications and initiates quarterly cash dividend of $0.15 / share (MKSI) 29.70 +0.19 :
4:18PM Hartford Financial beats by $0.10; guides FY11 EPS in-line (HIG) 27.93 -0.82 : Reports Q4 (Dec) earnings of $1.06 per share, excluding non-recurring items, $0.10 better than the Thomson Reuters consensus of $0.96. Co issues in-line guidance for FY11, sees EPS of $3.70-3.90, excluding non-recurring items, vs. $3.78 Thomson Reuters consensus.
4:16PM Ziopharm Oncology to sell 9.6 mln shares of its common stock (ZIOP) 6.20 +0.24 : Barclays Capital is acting as sole book-running manager in this offering and co has granted the underwriter a 30 day option to purchase up to 1,440,000 additional shares.
4:16PM Unum Group misses by $0.03, beats on revs (UNM) 25.14 -0.50 : Reports Q4 (Dec) earnings of $0.66 per share, $0.03 worse than the Thomson Reuters consensus of $0.69; revenues rose 3.9% year/year to $2.59 bln vs the $2.54 bln consensus. Co also announces its Board of Directors authorizes additional $1 billion share repurchase.
4:15PM Edwards Lifesciences beats by $0.02, beats on revs; guides Q1 EPS below consensus; reaffirms FY11 revs guidance (EW) 86.32 : Reports Q4 (Dec) earnings of $0.55 per share, $0.02 better than the Thomson Reuters consensus of $0.53; revenues rose 13.2% year/year to $392.4 mln vs the $384.7 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.40-0.42 vs. $0.44 Thomson Reuters consensus. Co reaffirms guidance for FY11, sees FY11 revs of $1.59-1.67 vs. $1.62 bln Thomson Reuters consensus.
4:14PM Sangamo BioSci beats by $0.01, beats on revs (SGMO) 7.70 -0.17 : Reports Q4 (Dec) loss of $0.18 per share, $0.01 better than the Thomson Reuters consensus of ($0.19); revenues fell 53.9% year/year to $4.7 mln vs the $3.3 mln consensus. Sangamo expects to have cash, cash equivalents, marketable securities and interest receivable in the range of approximately $35-40 million at the end of 2011 exclusive of any new funding from partnerships or other sources. Sangamo also expects 2011 operating expenses to be relatively flat compared to 2010 in the range of approximately $43-47 million.
4:14PM Newport beats by $0.05, beats on revs; guides Q1 EPS in-line, revs in-line (NEWP) 18.84 +0.40 : Reports Q4 (Dec) earnings of $0.40 per share, $0.05 better than the Thomson Reuters consensus of $0.35; revenues rose 30.9% year/year to $132.9 mln vs the $130.5 mln consensus. Co issues in-line guidance for Q1, sees EPS of approx $0.28 vs. $0.29 Thomson Reuters consensus; sees Q1 revs of approx $123 mln vs. $123.18 mln Thomson Reuters consensus.
4:14PM Cutera beats by $0.03, reports revs in-line (CUTR) 8.40 : Reports Q4 (Dec) loss of $0.09 per share, $0.03 better than the Thomson Reuters consensus of ($0.12); revenues fell 1.3% year/year to $15.2 mln vs the $15.2 mln consensus.
4:13PM Adept Tech reports Q2 EPS of ($0.20) vs. (0.21); revs rose 45% to $13.3 mln (ADEP) 4.67 -0.03 : Gross margin was 39% of revenue in the second quarter of fiscal 2011, compared to 44% of revenue in the second quarter of fiscal 2010 and 44% in the previous quarter.
4:13PM Visa beats by $0.02, reports revs in-line; reaffirms FY11 outlook (V) 72.09 +1.39 : Reports Q1 (Dec) earnings of $1.23 per share, $0.02 better than the Thomson Reuters consensus of $1.21; revenues rose 14.2% year/year to $2.24 bln vs the $2.23 bln consensus. FY11 net rev growth of 11-15% (cons: +12.5%); EPS growth of +20% (cons: +19.5%) and FCF of +$3 bln. Volume and support incentives should be 16-16.5%, with operating margin of ~60% and with cap-ex of $250-275 mln. Payments volume growth, on a constant dollar basis, for the three months ended December 31, 2010, was a positive 15% over the prior year at $897 billion. Cross border volume growth, on a constant dollar basis, was a positive 15% for the three months ended December 31, 2010. Total processed transactions, which represent transactions processed by VisaNet, for the three months ended December 31, 2010, were 13 billion, a positive 15% increase over the prior year.
4:13PM Bally Technologies beats by $0.03, misses on revs; guides FY11 EPS below consensus (BYI) 40.30 -0.90 : Reports Q2 (Dec) earnings of $0.49 per share, $0.03 better than the Thomson Reuters consensus of $0.46; revenues fell 10.8% year/year to $182.8 mln vs the $189.3 mln consensus. Co issues downside guidance for FY11, sees EPS of $2.00-2.15 vs. $2.16 Thomson Reuters consensus.
4:12PM Rightnow Tech beats by $0.01, beats on revs; guides Q1 EPS below consensus, revs below consensus; guides FY11 EPS in-line, revs in-line (RNOW) 27.20 +0.60 : Reports Q4 (Dec) earnings of $0.17 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.16; revenues rose 23.6% year/year to $51.4 mln vs the $50.8 mln consensus. Co issues downside guidance for Q1, sees EPS of $0.08 vs. $0.09 Thomson Reuters consensus; sees Q1 revs of $52 mln vs. $52.68 mln Thomson Reuters consensus. Co issues in-line guidance for FY11, sees EPS of $0.52, excluding non-recurring items, vs. $0.52 Thomson Reuters consensus; sees FY11 revs of $225 mln vs. $225.44 mln Thomson Reuters consensus.
4:12PM Entropic Comms beats by $0.01, beats on revs (ENTR) 11.01 -0.03 : Reports Q4 (Dec) earnings of $0.22 per share, excluding non-recurring items, $0.01 better than the Thomson Reuters consensus of $0.21; revenues rose 101.7% year/year and 15% sequentially to $70.8 mln vs the $69.1 mln consensus.
4:12PM Neustar reports EPS in-line, revs in-line; guides FY11 revs in-line (NSR) 26.95 -0.41 : Reports Q4 (Dec) earnings of $0.41 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.41; revenues rose 3.0% year/year to $138.3 mln vs the $139 mln consensus. Co issues in-line guidance for FY11, sees FY11 revs of $585-600 mln vs. $585.97 mln Thomson Reuters consensus.
4:12PM NetLogic beats by $0.09, reports revs in-line (NETL) 36.20 +0.33 : Reports Q4 (Dec) earnings of $0.45 per share, $0.09 better than the Thomson Reuters consensus of $0.36; revenues rose 44.5% year/year to $100.4 mln vs the $100.1 mln consensus.
4:11PM YUM! Brands beats by $0.03, beats on revs (YUM) 48.34 +0.92 : Reports Q4 (Dec) earnings of $0.63 per share, $0.03 better than the Thomson Reuters consensus of $0.60; revenues rose 5.9% year/year to $3.56 bln vs the $3.5 bln consensus. Same-store-sales grew 8% in China, 1% in YRI, and 5% in the U.S.
4:11PM Affymetrix beats by $0.04, reports revs in-line (AFFX) 4.96 -0.06 : Reports Q4 (Dec) earnings of $0.06 per share, $0.04 better than the Thomson Reuters consensus of $0.02; revenues fell 4.4% year/year to $84.9 mln vs the $85 mln consensus.
4:11PM Medco Health Solutions approves a $3 bln share repurchase program; completed $3 bln repurchase announced in May 2010 (MHS) 61.77 -0.42 :
3:21PM Comstock Homebuilding announces refinance of the Eclipse on Center Park Condominium Project (CHCI) 1.31 +0.05 : Co announces the closing of a new $11.85 million refinancing of its Eclipse on Center Park condominium project located in the Potomac Yard area of Arlington County, Virginia. Co's subsidiary, Comstock Potomac Yard, secured the New Loan from Eagle Bank of Bethesda, Maryland. Proceeds from the New Loan were utilized to pay off existing indebtedness owed to Key Bank, N.A in advance of the Key Bank loan maturity in March 2011.
2:46PM Index Change Reminder (INDXCH) : Getty Realty (GTY) will replace Applied Signal Technology (APSG) in the S&P SmallCap 600 index after the close of trading today.
2:41PM Abbott Labs confirms Chicago operations will remain closed today, including second and third shift operations (ABT) 45.77 +0.55 :
2:26PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices; Sugar +4.0%, Wheat +3.0% (COMDX) : March corn finished up 1.5 cents to $6.7275, March wheat rose 25.5 cents (or 3.0%) to close at $8.6888, March soybeans rose 7.38 cents to close at $14.4788, Feb ethanol closed unchanged at $2.335, while March world sugar futures closed up 1.35 cents (or +4%) to 35.31 cents.
2:17PM Ship Finance Intl announces Pricing of $125 Million Convertible Senior Bonds Due 2016 (SFL) 19.57 -0.47 : Co announces the successful completion of $125 million senior convertible bonds due 2016. The Bonds were marketed with an annual coupon range of 3.75% to 4.25% and with a conversion premium range of 30-35% above the closing price of the Company's common stock on the New York Stock Exchange on February 1, 2011. The transaction was significantly oversubscribed and the Bonds were priced at an annual coupon of 3.75%. The initial conversion price was set at $27.05 or 35% above the closing price of the Company's common stock on the New York Stock Exchange on February 1, 2011.
2:02PM Glu Mobile confirms it will develop social mobile gaming apps for Android 3.0 (Honeycomb) and other Android releases (GLUU) 3.10 +0.11 :
1:57PM PPL Corp announces ice storm left damage that knocked out power from west of the Susquehanna to the Lehigh Valley (PPL) 25.97 +0.16 : As of noon today, PPL Electric Utilities, PPL Corp's subsidary, said it has restored power to nearly 40,000 customers affected by the damage. The company still is dealing with widespread outages involving 24,000 customers across its system, about half in the Lehigh Valley. Due to the large number of trouble cases - about 440 incidents involving customer outages systemwide - the utility expects its restoration efforts to continue through Thursday.
1:40PM Sinclair Broadcast and Time Warner Cable (TWC) enter into multi-year retransmission consent agreement; TWC to produce local news in Greensboro/Winston-Salem (SBGI) 9.14 +0.03 : The co announced today that it has entered into a multi-year agreement with Time Warner Cable for the carriage of 28 of the television stations Sinclair owns and/or operates in 17 markets.
1:33PM Ecotality wins $2.87 mln in Bay Area contracts, expands the EV project to the San Francisco Bay Area (ECTY) 3.42 -0.03 : Co announces that it has expanded The EV Project to the San Francisco Bay Area. Co was awarded a $2.87 million contract from the Bay Area Air Quality Management District to become the Project Manager of the organization's Electric Vehicle Supply Equipment Deployment Program. Through this program, co will oversee the installation of 2,750 home charging stations and 30 DC fast charging stations throughout the Bay Area.
1:19PM Optimer Pharma reports results of Fidaxomicin Phase 3 trial showing significantly lower recurrence rates were published (OPTR) 11.16 +0.15 : Co announced The New England Journal of Medicine has published results from the North American Phase 3 trial evaluating the safety and efficacy of the Company's novel antibiotic fidaxomicin as a treatment for patients with Clostridium difficile infection (CDI). The Phase 3 trial showed that fidaxomicin significantly reduced recurrence rates and increased global cure rates when compared to vancomycin, the only treatment approved by the U.S. Food and Drug Administration for CDI.
1:01PM DIRECTV launches DISHA India across the U.S. (DTV) 42.76 -0.26 :
1:00PM Arcelor Mittal and Nunavut Iron recommend Baffinland securityholders tender to offer to ensure prompt payment (MT) 36.63 -0.56 : The cos announced today that they have taken-up an additional 1,343,574 common shares of Baffinland Iron Mines and 5,000 common share purchase warrants issued pursuant to a warrant indenture dated January 2007 of Baffinland under their outstanding offer of C$1.50 per Common Share and C$0.10 per 2007 Warrant. The additional Common Shares taken-up, together with Common Shares held by the Offerors, represent approximately 65% of the outstanding Common Shares on a non-diluted basis (or ~63% of the outstanding Common Shares on an in-the-money, fully diluted basis). The additional 2007 Warrants taken-up, together with 2007 Warrants held by the Offerors, represent ~45% of the outstanding 2007 Warrants.
1:00PM Arris renews master purchase agreement with NCTC (ARRS) 12.50 -0.28 : Co announced that it has extended its long-standing relationship with the National Cable Television Cooperative to supply NCTC members with end-to-end broadband access solutions through 2011. Under the agreement, ARRIS will be the exclusive supplier, through NCTC, of an expanded line of customer premises E-MTA equipment. NCTC is comprised of 950 member companies, serving over 26.7 mln households in the United States.
12:01PM Northrop Grumman signs long-term agreement for F-35 components with Australian supplier Quickstep (NOC) 69.91 -0.36 : Co delivered the next installment of its commitment to expand international participation in the F-35 Joint Strike Fighter (JSF) program by signing a long-term JSF parts agreement with Quickstep Technologies, North Coogee, Australia. Northrop Grumman is a principal subcontractor on the Lockheed Martin-led (LMT) F-35 industry team. Australia is one of nine countries, including the United States, contributing to the funding and production of the fifth generation, multirole F-35 aircraft. Under terms of the second sourcing agreement, signed Feb. 2 in Sydney, Quickstep will produce an initial group of composite subassemblies that includes F-35 lower side skins, maintenance access panels and fuel tank covers.
12:00PM Praxair agrees to sale of U.S. homecare business (PX) 94.75 -0.56 : The co and Apria Healthcare have entered into a definitive agreement by which Praxair will sell its U.S. homecare business to Apria. Terms of the agreement were not disclosed. The transaction is expected to close during the first quarter 2011, subject to satisfaction of customary terms and conditions. Praxair will continue to supply the homecare market in other countries, and also will continue to expand its very successful institutional healthcare business worldwide.
11:56AM InterOil jv signed a Project Funding and Construction Agreement (IOC) 71.14 +1.24 : Co announced that InterOil and Liquid Niugini Gas Ltd., its joint-venture liquefied natural gas project company with Pacific LNG Operations Ltd., have signed a Project Funding and Construction Agreement and a Shareholder Agreement with Energy World Corporation governing the parameters in respect of the development, construction, financing and operation of a planned three million tonne per annum (mtpa) land-based modular LNG plant in the Gulf Province of Papua New Guinea (PNG).
11:52AM Fifth Third redeems $3.4 bln U.S. Treasury Investment (FITB) 15.34 -0.20 : Co announced that it has completed the repurchase of all 136,320 shares of its Series F Preferred Stock, originally issued in December 2008 under the U.S. Department of the Treasury's TARP Capital Purchase Program. The co funded the repurchase of the $3.4 bln of preferred stock with proceeds from its recent equity and debt offerings, as well as from available resources. The U.S. Treasury continues to hold warrants to purchase 43,617,747 shares of Fifth Third's common stock at an initial exercise price of $11.72 per share. Fifth Third currently intends to evaluate the potential purchase of these warrants from the U.S. Treasury or otherwise.
11:40AM Royal Gold amends its revolving credit facility and term loan (RGLD) 47.62 -0.53 : Key modifications include: 1) an increase in the maximum availability under the Revolver from $125 mln to $225 mln; 2) an increase in the total borrowing under the Term Loan from $110.5 mln to $130 mln; 3) an extension of the final maturity date for each of the Bank Facilities to February 1, 2014; 4) a restructuring of the interest rate applicable to the Term Loan, making it consistent with the interest rate under the Revolver, which results in a reduction in the current effective rate from LIBOR plus 2.25% to LIBOR plus 1.875%; and 5) a reduction in the amortization rate for principal payments under the Term Loan from 5% of the initial funded principal amount per quarter to 3% of the currently funded principal amount per quarter.
11:06AM Green Plains Renewable Energy and BioProcess Algae complete construction of Phase II Grower Harvester Technology (GPRE) 11.65 +0.05 : The Grower Harvester bioreactors were successfully started up in January of this year.
11:03AM Asia Entertainment announces rolling chip turnover for January 2011; was $1.374 bln, up 110% YoY (AERL) 11.30 +0.21 : Co announced unaudited Rolling Chip Turnover for the month of January 2011 at the company's three VIP rooms in Macau was $1.374 bln, up 110% YoY, compared to $654 mln for the month of January 2010. This compares with a year-over-year increase in gross gaming revenue for Macau of 33% for January 2011. "The growth in Rolling Chip Turnover was attributable to organic growth, the recent warrant redemption, which raised gross proceeds of ~$35.5 mln, increasing cage capital allowing for higher levels of Rolling Chip Turnover, as well as the completion of the acquisition of 100% of the profit interest in the operations of King's Gaming Promotion Limited, thereby adding to AERL a VIP room at the Venetian Macao-Resort-Hotel on the Cotai Strip."
11:03AM Sierra Wireless announces that Ambient Corporation has selected co's AirPrime embedded modules to provide 3G wireless connectivity for Ambient's latest X-series smart grid communications node (SWIR) 14.36 -0.09 :
10:51AM Southern Co's Georgia Power and the Electric Power Research Institute are conducting an 18-month study to evaluate how solar photovoltaic power systems may affect the utility's distribution system (SO) 37.70 -0.24 :
10:39AM KeyCorp announces that it is financing a solar system installation for SunPower Corp (SPWRA, SPWRB) customer, the Facilities Department at Princeton University (KEY) 9.23 -0.03 : The system, comprising 16,500 photovoltaic panels on 27 acres, is expected to be one of the largest single solar power installations at a U.S. college or university.
10:32AM AstraZeneca and HealthCore, a subsidiary of WellPoint (WLP), announces a collaborative agreement to conduct studies designed to determine how to most effectively and economically treat disease (AZN) 47.83 +0.41 : Co and HealthCore, Inc., the health outcomes research subsidiary of WellPoint, announced a collaborative agreement to conduct real-world studies designed to determine how to most effectively and economically treat disease. The research, which will include prospective and retrospective observational studies on disease states as well as comparative effectiveness research, will analyze how medicines and treatments already on the market are working in a number of disease areas, with a special emphasis on chronic illnesses. It also will provide insight into the types of new therapies most needed for treating and preventing disease.
10:31AM March crude oil pulls back modestly following data; now +$0.54 at $91.31 (USO) 38.36 +0.29 :
10:20AM Ensco Ultra-Deepwater Semi ENSCO 7500 will mobilize to Brazil under a new multi-year contract with Petrobras (PBR) (ESV) 53.77 +0.20 : Co announces that a subsidiary of the Company has entered into a 950-day drilling contract with Petroleo Brasileiro S.A. for ENSCO 7500. Following upgrades to the rig at a shipyard in Singapore, ENSCO 7500 is scheduled to commence operations in third quarter 2011. Petrobras may extend the term for up to 950 additional days at mutually agreed rates. The day rate is $320,000 under the new contract, subject to adjustments based on variances in operating costs. In addition, should the rig operate in water depths greater than 1,500 meters, the day rate increases by an additional $200 per meter/per day. Ensco is eligible to receive up to a 5% performance bonus on the day rate and will receive a $19 million fee for mobilization and equipment upgrades.
10:12AM Boeing, Comair Limited announce Next-Generation 737 order valued at ~$646 mln (BA) 70.53 +0.24 : Co and Comair Limited announced an order for eight Next-Generation 737-800s complete with the innovative new Boeing Sky Interior. Comair will use its new 737s to update the fleet of Comair's low-fare airline, kulula.com. The airplanes are valued at ~$646 mln at current list prices. The order previously was attributed to an unidentified customer on Boeing's orders and deliveries website.
10:11AM Subaye reiterates focus on cloud computing, delays launch of international online 3D mall (SBAY) 9.53 +0.16 : Co announced the delayed launch of its International Online 3D Mall until May 16, 2011.
10:01AM Star Scientific files Stonewall Moist-BDL application with FDA for approval as modified risk tobacco product (CIGX) 1.64 +0.05 : Co announces it filed an application yesterday with the FDA for approval to market a moist-snuff product, Stonewall Moist-BDL, as a modified-risk tobacco product. The company believes that this is the first application filed with the FDA for approval of a tobacco product in a longstanding market segment. The data submitted in the application to the Center for Tobacco Products at FDA document TSNA levels in Stonewall Moist-BDL that are below limits of detection, or "BDL", by current standards of measure.
10:01AM Emerson unit awarded $95 mln contract to modernize automation at thermal power plant in Poland (EMR) 59.76 0.00 :
9:55AM Altria's Philip Morris USA confirms plan to sue retailers on the Poospatuck reservation to combat counterfeit cigarette sales (MO) 23.61 +0.02 :
9:54AM Old Dominion announces "At-The-Market" offering (ODFL) 28.87 -3.85 : Co filed a prospectus supplement under which it may from time to time over the next twelve months sell shares of its common stock having an aggregate offering price of up to $100 million through an "at-the-market" offering program. The shares would be offered through Stifel Nicolaus Weisel, as sales agent and/or principal. Sales of the shares, if any, would be made by means of ordinary brokers' transactions on the NASDAQ Global Select Market, in privately negotiated transactions, or otherwise at market prices prevailing at the time of sale. Cointends to use the proceeds from this offering to finance long-term capital expenditures and future acquisitions, if any, as well as for general corporate purposes.
9:46AM Abbott Labs confirms Chicago operations, including its day care center, will be closed today due to weather conditions (ABT) 45.36 +0.13 :
9:43AM Eli Lilly and Bristol-Myers Squibb (BMY) stop enrollment in one of two phase III lung cancer trials of Necitumumab (LLY) 35.11 -0.10 : The cos announced today that they have stopped enrollment in one of their two global Phase III studies evaluating necitumumab, an investigational anti-cancer agent, as a first-line treatment for advanced non-small cell lung cancer. The decision to stop enrollment followed an independent Data Monitoring Committee (DMC) recommendation that no new or recently enrolled patients continue treatment in the trial because of safety concerns related to thromboembolism (blood clots) in the experimental arm of the study. The DMC also noted that patients who have already received two or more cycles of necitumumab appear to have a lower ongoing risk for these safety concerns. These patients may choose to remain on the trial, after being informed of the additional potential risks. Investigators will continue to assess patients after two cycles to determine if there is a potential benefit from treatment.
9:41AM Zanett trading higher after announcing Parkview Health to Implement the Zanett Clinical Online Delivery System (ZANE) 1.55 +0.40 : Co announced before the open that it will be implementing its Clinical Online Delivery System (CODS) software for Parkview Health to support standardized, evidence-based order sets at the point of care, arming their doctors and clinicians with critical information to improve medication safety and patient care.
9:33AM Open Text entered into a global agreement with SABIC, in which SABIC will be deploying the OpenText ECM Suite to its 37,000 users. (OTEX) 50.52 +0.37 :
9:32AM Ormat Tech has entered into an Addendum to the Deed of Trust dated August 3, 2010, governing the issuance of, and accepted subscriptions for, an additional $88 million in aggregate principal amount of senior unsecured bonds of the same series of bonds issued by it in Aug 2010 (ORA) 31.19 +0.42 :
9:31AM Abraxas Petroleum Corp. confirms completion of its first Eagle Ford well in South Texas (AXAS) 4.86 -0.04 :
9:29AM Developers Diversified Rlty announces IPO of joint venture; gross proceeds of ~$261 mln (DDR) 13.61 : Co announces that its joint venture, Sonae Sierra Brasil, completed an initial public offering of Sonae Sierra Brasil's common shares on the Sao Paulo Stock Exchange, or the BM&FBOVESPA. The offering of 21,739,130 common shares priced at R$20.00 per share (US$12.00). Gross proceeds of R$434.8 million (approximately US$261 million) will be used primarily for development of new Prime retail centers and the redevelopment and expansion of Sonae Sierra Brasil's existing assets in Brazil. Based on the IPO price, Sonae Sierra Brasil will have a market capitalization of R$1.498 billion (US$900 million).
9:27AM Gap announces major changes at Gap Brand (GPS) 19.52 : Co announces a series of significant management and organizational changes at Gap brand designed to drive more consistent results in North America and to provide a new and dynamic creative leadership structure that will deliver sustainable global growth. The changes are effective immediately. Art Peck, the leader responsible for growing the company's highly-profitable Outlet business for the past three years, will take on the role of president of Gap North America. Pam Wallack, the current president of Gap Adult North America, will become head of Gap's new Global Creative Center. In another significant shift to strengthen Gap North American platform, the co announced the strategic decision to merge together the operation of its Outlet division with the Gap and Banana Republic brands
9:13AM Star Bulk Carriers appoints Spyros Capralos to succeed Akis Tsirigakis as CEO and Pres (SBLK) 2.55 : Co announces Spyros Capralos has been appointed as President and CEO, to succeed Akis Tsirigakis, effective as of February 7, 2011. Capralos has also been appointed to the Board. Tsirigakis will continue to serve as a director. His parting was mutually agreed, so he may pursue other interests. Capralos served, until October 2010, as Chairman of the Athens Exchange and CEO of the Hellenic Exchanges Group and was the President of the Federation of European Securities Exchanges.
9:09AM Frequency Electronics receives major contract from Boeing (BA) Space and Intelligence (FEIM) 7.07 : Co announces it has received a major contract from Boeing Space & Intelligence Systems to supply on-board timing and frequency generation systems for Mexico's new satellite communications program known as MEXSAT. Frequency expects to complete this contract within 18 months although the majority of system assembly and testing is expected to be completed within the first twelve months. Terms were not disclosed.
9:04AM EMS Tech: MMI Investments announces Director Nominations for EMS Technologies, Inc. (ELMG) 19.59 : MMI Investments formally nominated slate of four independent director nominees for election to the EMS Board of Directors: Samme Thompson-Former Senior Vice President, Global Strategy and Corporate Business Development, of Motorola Corporation; Theodore Martin - Former CEO of Barnes Group (B); Carroll Wetzel- Former Co-Head of the M&A Group of Chase Manhattan Bank; and Jerome J. Lande - Partner of MCM Capital Management
9:02AM Central Vermont Public expects 2011 earnings in the range of $1.60-1.75, Thomson Reuters consensus $1.65 (CV) 21.85 : Co issued 2011 earnings guidance today, stating that for the year, the company anticipates earnings in the range of $1.60 to $1.75 per diluted share of common stock. The earnings range reflects an approved retail rate increase of 7.46 percent effective Jan. 1, 2011 and an allowed rate of return of 9.18 percent in 2011, down from 9.59 percent in 2010. "Earnings in 2011 will be affected by a lower allowed return on equity, which, according to our Alternative Regulation Plan, is a function of the year-over-year change in Treasury yields," said CVPS Chief Financial Officer Pamela Keefe. "However, the quarterly power and transmission cost adjustment and annual earnings sharing mechanism within our Alternative Regulation Plan should keep us within this range. We will also see the full-year effect of the 1,498,745 shares we issued in 2010."
9:02AM Wimm-Bill-Dann Foods announces acquisition of Opolie Holding Company in Vladimir region; terms not disclosed (WBD) 33.08 : Co announces the acquisition of Opolie Holding Company CJSC in Vladimir region, Central Russia. Opolie is a milk processor in the region and ranks among Russia's top-10 dairy companies. Opolie Holding Company consists of three milk plants in Yuriev Polsky, Lakinsk and Suzdal, processing a total of over 300 tons of milk per day.
9:02AM Seattle Genetics prices 10 mln share offering at $15.50 per share (SGEN) 16.17 : The gross proceeds to Seattle Genetics from this offering are expected to be $155,000,000, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Seattle Genetics.
9:01AM Ditech and Digium enter into marketing partnership making Ditech voice quality assurance algorithms available to Asterisk community (DITC) 1.32 : Co announced that it has entered into a marketing partnership with Digium to make Ditech's Voice Quality Assurance algorithms available to the Asterisk developer community.
9:01AM Todd Shipyards receives U.S. Navy Award of Surface Combatant Drydocking Contract (TOD) 22.25 : Co announces the U.S. Navy has awarded to its wholly owned subsidiary, Todd Pacific Shipyards, a five-year Multi-Ship/Multi-Option contract for the drydocking of the surface combatant ships homeported at Naval Station Everett or visiting the Puget Sound region. Co estimates the value may be in the range of $50-80 mln over five years, if all options are exercised.
9:01AM Jinpan International Ltd. secures significant domestic orders in January (JST) 10.78 : Co announced that it secured five large domestic China orders in January 2011. Each order is between RMB 6.4 mln (~US$ 0.95 mln ) and RMB 10.7 mln (~US$ 1.6 mln), totaling RMB 40.20 mln (~US$ 6.0 mln). The orders are all scheduled for delivery between March and June of 2011. Three of the five orders, totaling RMB 26.0 mln (~US$3.9 mln), are for transformers and switchgears customized for plants manufacturing polysilicon for solar panels. The remaining two orders, totaling RMB 14.2 mln (~US$ 2.1 mln), are for cus
8:51AM Magellan Midstream beats by $0.01, beats on revs; guides Q1 EPS above consensus; guides FY11 EPS above consensus (MMP) 57.03 : Reports Q4 (Dec) earnings of $0.78 per share, $0.01 better than the Thomson Reuters consensus of $0.77; revenues rose 12.7% year/year to $398 mln vs the $387.6 mln consensus. Co issues upside guidance for Q1, sees EPS of $0.75 vs. $0.71 Thomson Reuters consensus. Co issues upside guidance for FY11, sees EPS of $3.13 vs. $3.02 Thomson Reuters consensus. Management currently expects to generate record DCF in 2011 of $410 million and is targeting annual distribution growth of 7% for 2011. Distributable cash flow (DCF), a non-GAAP financial measure that represents the amount of cash generated during the period that is available to pay distributions, increased 22% to a quarterly record of $128.1 million for fourth quarter 2010 compared to $104.9 million during fourth quarter 2009.
8:48AM Orbit Int'l receives contract for U.S. Navy MK 437 gun mount control panels valued in excess of $1.1 mln (ORBT) 3.75 : Co announces that its Electronics Group has received an award released against a multi-year Indefinite Delivery/Indefinite Quantity agreement from a U.S. Navy Procurement Agency valued in excess of $1,100,000 for its MK 437 Gun Mount Control Panels.
8:47AM CPI Aerostructures announces $17.7 million contract award from Sikorsky Aircraft, a subsidiary of UTX (CVU) 12.40 : C0 announces that it has entered into a long term contract for a period of five years covering $17.7 million in structural assemblies and kits to be supplied to Sikorsky Aircraft Corp. for its S-92 civil helicopter program. Sikorsky is a subsidiary of United Technologies Corp.
8:46AM Marathon Oil beats by $0.11 (MRO) 46.60 : Reports Q4 (Dec) earnings of $1.09 per share, $0.11 better than the Thomson Reuters consensus of $0.98. E&P sales volumes during the fourth quarter averaged 417,000 boepd, compared to 413,000 boepd for the same period in 2009. Marathon estimates 2011 E&P production available for sale will be essentially flat with 2010 volumes, with a range between 380,000 and 400,000 boepd, excluding the effect of any future acquisitions or dispositions. Marathon expects first quarter net synthetic crude production will be between 28,000 and 34,000 bpd, with anticipated full-year 2011 net synthetic crude production estimated to be between 36,000 and 45,000 bpd.
8:44AM On The Wires (WIRES) :
* In 2009, Starwood Hotels & Resorts Worldwide (HOT) and its Starwood Preferred Guest program forged a strategic sponsorship alliance with Live Nation Entertainment (LYV). * Verizon Wireless (VZ) and Apple (AAPL) announced that Verizon Wireless customers can pre-order an iPhone 4 online beginning at 3 a.m. EST on Feb. 3.
8:39AM GLG Life Tech announces increase to previously announced financing by additional 600K units (GLGL) 12.09 : Co announces that it has amended the terms of the previously announced Canadian bought deal public offering through a syndicate of underwriters, to increase the size of the offering by an additional 600,000 units. Under the amended terms of the offering, the Underwriters have agreed to purchase an aggregate of 4,600,000 units of the Company for total gross proceeds of C$50,600,000. Each Unit will consist of one common share and one half of one common share purchase warrant. Each whole Warrant will entitle the holder thereof 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.
8:34AM Solera announced that it has purchased New Era Software, a U.S.-based provider of bodyshop management systems (SLH) 41.80 :
8:33AM PennyMac Mortgage misses by $0.05 (PMT) 18.79 : Reports Q4 (Dec) earnings of $0.43 per share, $0.05 worse than the Thomson Reuters consensus of $0.48. PMT invested $148 million in distressed mortgage assets during the fourth quarter. The purchases were comprised of $146 million in non-performing residential mortgage whole loans and $2 million in mortgage-backed securities. The incremental expenses incurred in Q4 were necessary in initiating certain strategic initiatives for the Co. Costs associated with the establishment of the two credit facilities, the warehouse lending facility for the conduit, and the at-the-market equity program impacted Q4 results; however, the initiatives are intended to benefit the Co well into the future.
8:32AM TheStreet.com appointed Christopher Marshall as its Chairperson, effective immediately (TST) 3.06 : Cramer will remain on the co's Board and will continue in his editorial role with the co. Cramer recently entered into a new three-year employment arrangement with TheStreet.
8:31AM China Intelligent Lighting signs agreements with distributors to open more than 300 distribution outlets in China (CIL) 2.40 : Co announces that it has signed contracts with distributors to open more than 300 exclusive distribution outlets in China in 2011. The agreements are part of CIL's strategic promotional marketing campaign, whereby distributors agree to two-year contracts that grant them the right to sell CIL's Hyundai and CINLE lighting products exclusively in outlets branded with the Hyundai and CINLE names. The Company will invest RMB50,000 (approximately US$7,600) in each store, RMB15 million (approximately US$2.3 million) in total, to assist the distributors to furnish the outlets according to the Company's branding awareness objectives and guidelines; the decoration standards will remain consistent throughout the network of outlets. With the addition of these 300 distribution outlets, CIL will have 2,500 distribution outlets across 30 provinces and cities in China.
8:31AM IntercontinentalExchange reports record average daily futures volume, up 30% in January; record ADV for ICE Brent, Gasoil and WTI Futures (ICE) 121.38 : Co reports strong volume growth for its futures business in the first month of 2011.
* Average daily volume (ADV) for ICE's futures markets was a record 1,578,227 contracts, up 30% from January 2010. * ICE Futures Europe established a monthly record of 23.5 mln contracts and a monthly ADV record of 1,176,543 contracts, an increase of 45% from the first month of 2010, and the exchange's first monthly ADV total in excess of one mln contracts. * Total futures volume in January 2011 was a record 31.6 mln contracts.
8:29AM Mad Catz and Microsoft (MSFT) Enter into Exclusive Agreement to Produce Licensed, Co-Branded Wireless Headphones for Xbox 360 (MCZ) 0.85 : Co announces that it has entered into an agreement with MSFT to produce a range of licensed, co-branded audio headphones under Mad Catz's Tritton brand and Microsoft's Xbox 360 brand. Under the agreement, Mad Catz has the worldwide rights to manufacture, market and sell licensed, co-branded wired stereo headphones and exclusive rights to produce licensed, co-branded wireless stereo and Dolby 5.1 headphones for the Xbox 360 videogame and entertainment system.
8:28AM Avery Dennison increases dividend 25% and authorizes additional 5 mln shares increase in share repurchases (AVY) 41.80 : Co announces a quarterly dividend of $0.25 per share, reflecting a five cent, or 25%, increase over the previous quarterly dividend. The dividend is payable March 16, 2011 to shareholders of record on March 2, 2011. The board also authorized the repurchase of up to five million additional shares of the company's outstanding common stock, increasing the current balance of shares available for repurchase to ~six million.
8:20AM On The Wires (WIRES) :
* BioSante Pharmaceuticals (BPAX) announced that it will provide a LibiGel safety study update, and is supporting two clinical symposia at the Annual Meeting of The International Society for the Study of Women's Sexual Health Meeting. * TIBCO Software (TIBX) announced that TIBCO ActiveMatrix BusinessWorks has achieved Evaluation Assurance Level 2 (EAL2) Common Criteria (CC) certification. The certification acknowledges that ActiveMatrix BusinessWorks adheres to the International Standards Organization 15408 standard recognized by 26 nations, and required for selling into the U.S. government sector. * K-Swiss (KSWS) has announced a multi-year endorsement with Mixed Martial Arts fighter Jon "Bones" Jones for both the K-Swiss and FORM Athletics brands. Under the terms of the deal, K-Swiss will add Jones to its stable of performance training footwear ambassadors, and FORM Athletics, a wholly-owned subsidiary of K-Swiss, will expand its current relationship with Jones for both lifestyle and performance apparel. * inedigm Digital Cinema (CIDM) announced the deployment of 283 Cinedigm-Certified screens across 20 existing Southern Theatres locations in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina and Texas. The installations are anticipated to begin in March 2011 and be completed by the end of the year. * Zhone Technologies (ZHNE) announced that FIKAS Broadband as most recent service provider to deploy Zhone's MXK multi-service access node system in the Nordics. * WWE (WWE) extended its relationship with J SPORTS Broadcasting in Japan for five more years. The new agreement, which takes effect immediately, gives J SPORTS the exclusive Pay TV broadcast rights for WWE's weekly programming in Japan. * Kratos Defense & Security Solutions (KTOS) announced that its Public Safety and Security Division has been awarded a Master Service Agreement contract to provide enterprise-wide security services to a major energy infrastructure business. The M.S.A is expected to have a value exceeding $1 million.
8:16AM EDAP TMS SA granted special temporary reimbursement for Ablatherm-HIFU in France (EDAP) 3.89 : Co announces it has been granted a special temporary reimbursement for Ablatherm-HIFU for the treatment of localized prostate cancer by the French National Authority for Health. The grant follows a comprehensive review of Ablatherm-HIFU clinical results. This step by HAS reflects a new reimbursement process dedicated to innovative therapies, which allows Ablatherm-HIFU technology to be granted temporary reimbursement while setting up a dedicated treatment registry for the next five years.
8:16AM Icagen announces lifting of clinical hold of ICA-105665 (ICGN) 3.41 : Co announced that, following a review of data from recently completed clinical studies as well as the Co's proposed protocol for a Phase II clinical trial in patients with treatment resistant epilepsy, the FDA has notified the Co that the clinical hold on Icagen's IND for ICA-105665, a novel orally available small molecule KCNQ potassium channel agonist, has been removed.
8:13AM Trinity Biotech acquires Phoenix Biotech for 2.5 mln (TRIB) 8.40 : Co announced the acquisition of Phoenix Biotech, for US$2.5 mln. The key terms of the acquisition are as follows: 1) Consideration is $2.5m of which $1m has been paid upfront with the remaining $1.5m to be paid over the next 12 months0; and 2) the consideration of $2.5m includes acquired net assets of approximately $0.8m.
8:08AM Hospira falls as much as 6.5% to $51.48 after the co missed Q4 expectations and guided FY11 below consensus (see 08:00 comment) (HSP) 55.05 :
8:07AM iGo has been awarded two Great Britain Patents related to its power-saving iGo Green technology (IGOI) 3.45 : The first two Great Britain Patents relate specifically to the use of iGo Green technology as a primary side controller in a laptop power adapter. A power adapter using iGo Green technology recognizes when a device does not require power and automatically shuts itself off, thus reducing the power draw to ultra-low levels. When the device needs power again, the power adapter turns itself on, automatically.
8:05AM New Generation Biofuels announces $1.0 million convertible debt placement (NGBF) 0.05 : Co has entered into a definitive agreement for the placement of Senior Secured Convertible Promissory Notes. The Notes are secured by the assets of New Generation Biofuels and are convertible into 10,000,000 shares of common stock of the Company at ten cents ($0.10) per share. Simultaneously with the closing of the Offering, the Company issued Class A warrants exercisable for 4,500,000 shares with an exercise price of ten cents ($0.10) per share and Class B warrants exercisable for 500,000 shares at one-half cent ($0.005) per share. The Notes may not be converted and the warrants may not be exercised until the Company's shareholders approve an increase in authorized common stock as described in the Company's definitive proxy statement, which was filed with the Securities and Exchange Commission on January 14, 2011.
8:02AM New Gold announces record quarterly and annual gold production of 124,445 and 382,911 ounces, respectively (NGD) 8.25 : Co announces record quarterly and annual gold production of 124,445 and 382,911 ounces, respectively, with production exceeding the 2010 guidance range of 330,000 to 360,000 ounces. Quarterly and annual total cash cost per ounce sold, net of by-product sales, were $354 and $428 per ounce, respectively, with annual total cash cost per ounce sold being below the 2010 guidance range of $445 to $465 per ounce. New Gold is also pleased to provide guidance for 2011 with forecast gold production expected to increase further to 380,000 to 400,000 ounces at total cash cost per ounce sold, net of by-product sales, of $430 to $450 per ounce.
8:02AM Sigma-Aldrich unit Collaborates with Cofactor Genomics to Develop Publically Available Rat Genome Database (SIAL) 65.34 : Co announces that its SAGE Labs initiative has partnered with Cofactor Genomics in an effort to sequence genomes for six of the most widely used strains of rat. As part of the agreement, Cofactor Genomics plans to generate and analyze sequence data using next generation sequencing systems, while SAGE Labs plans to provide the samples and to host a new, free public database at sageresearchmodels.com in late 2011. The database will include exclusive genomic information and analysis tools.
8:02AM Vermillion announces notice of allowance of patent for breast cancer biomarkers (VRML) 7.20 : Co announced that the United States Patent and Trademark Office has issued a notice of allowance for a patent entitled "Biomarkers for breast cancer" to the Co. The patent claims are directed to biomarker combinations for the diagnosis and management of breast cancer and to the measurement of the biomarkers by mass spectrometry.
8:01AM Convergys reports EPS in-line, beats on revs; guides FY11 EPS in-line (CVG) 14.21 : Reports Q4 (Dec) earnings of $0.31 per share, excluding non-recurring items, in-line with the Thomson Reuters consensus of $0.31; revenues fell 3.8% year/year to $573.2 mln vs the $566 mln consensus. Co issues in-line guidance for FY11, sees EPS of $1.00-1.15 vs. $1.14 Thomson Reuters consensus.
8:00AM Hospira misses by $0.16, misses on revs; guides FY11 EPS below consensus, revs below consensus (HSP) 55.05 : Reports Q4 (Dec) earnings of $0.77 per share, excluding non-recurring items, $0.16 worse than the Thomson Reuters consensus of $0.93; revenues fell 6.0% year/year to $992.1 mln vs the $1.04 bln consensus. Co issues downside guidance for FY11, sees EPS of $3.90-4.00, excluding non-recurring items, vs. $4.30 Thomson Reuters consensus; sees FY11 revs growth of 5-7%, which equates to ~$4.1-4.2 bln vs. $4.3 bln Thomson Reuters consensus.
7:59AM Kraton Performance Polymers and Kraton Polymers Capital propose an offering of $200 mln of Senior Notes Due 2019 (KRA) 32.55 : Co announces 2 units intends to sell $200 mln aggregate principal amount of senior notes due 2019 in an institutional private placement. The co intends to use the net proceeds from the offering, together with the proceeds from its $200 mln term loan under a new senior secured credit facility and available cash, to refinance substantially all of its existing indebtedness, to pay accrued and unpaid interest, to pay related fees and expenses and to pay tender premiums with respect to its existing indebtedness.
7:55AM On The Wires (WIRES) :
* inContact (SAAS) announced a new customer win that expands its growing foothold in the healthcare market segment. A regional healthcare delivery network, consisting of hospitals and health centers, selected the inContact call routing and workforce optimization solutions to power its patient scheduling, billing and nurse consultation departments. * Pacific Biosciences of California (PACB) provided an update on its progress toward providing the premier complete solution to customers for third generation DNA sequencing applications. "We are entering the later stages of our limited production release (LPR) program, and have begun upgrading the beta instruments to the commercial hardware configurations... In the months ahead, we expect to continue the optimization of the chemistry, perform verification and validation of the system, and provide software upgrades. We are on track to complete this work and expect to begin shipping the commercial instruments in the first half of 2011." * Science Applications International Corporation (SAI) announced it was awarded a contract by the U.S. Army, Engineering and Support Center, Huntsville to provide physical security and force protection systems in support of the Department of Defense and other government agencies. The multiple award, indefinite-delivery/indefinite-quantity contract has a three year base period of performance, one two-year option and a ceiling value of $650 million dollars for all awardees. * AboveNet (ABVT) announced it has closed a new five-year $250 million senior secured revolving credit facility. The purpose of the credit facility is to provide the company with funds for general corporate purposes and to repay the company's existing credit facility.
7:49AM SanDisk announces cross-patent license agreement with Imation Corp (IMN), settles patent litigation (SNDK) 46.49 : Co announces that Imation Corp. has signed a patent cross-license agreement with SanDisk to settle two cases filed by SanDisk in Federal District Court against Imation alleging infringement of flash memory system-level patents. Under the terms of the cross-license, Imation will pay SanDisk royalties on various flash memory products, including USB flash drives and solid state disk drives. In addition, Imation entered into a stipulated judgment of infringement and validity in SanDisk's favor on claims of U.S. Patent No. 7,137,011, which covers the use of certain encryption technology in a memory card.
7:46AM AnnTaylor expects to report top-line and bottom-line Q4 results exceed the current consensus of analyst expectations and be substantially higher than the fourth quarter of 2009 (ANN) :
7:45AM Hershey Foods Correction: Q4 EPS, revs in-line (HSY) 47.14 : Earlier we reported GAAP EPS, the comment has been removed and should have read as follows: Reports Q4 (Dec) earnings of $0.61 per share, ex-items, in-line with the Thomson Reuters consensus of $0.61; revenues rose 5.4% year/year to $1.48 bln vs the $1.48 bln consensus. Co issues guidance for FY11, sees EPS of $2.54-2.63, including business realignment and impairment charges of $0.13-0.16 per share-diluted, may not be comparable to $2.77 Thomson Reuters consensus. "As a result, we expect FY11 net sales and adjusted earnings per share-diluted growth to be around the top of the co's long-term 3 to 5% and 6 to 8% objectives, respectively [consensus +4.0%, +8.6%, respectively]."
7:39AM Vodafone PLC names Gerard Kleisterlee as new Chairman (VOD) 28.95 : Co announces that John Bond, the Chairmen of the co, will be retiring from the Board at the co's AGM in July 2011. He will be succeeded as Chairman by Gerard Kleisterlee, currently President/CEO and Chairman of Koninklijke Philips Electronics (PHG). Mr. Kleisterlee will be retiring from Phillips on March 31 and will be appointed as non-exec director of VOD on April 1.
7:32AM Manpower beats by $0.05, reports revs in-line; guides Q1 EPS in-line (MAN) 65.90 : Reports Q4 (Dec) earnings of $0.66 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.61; revenues rose 18.1% year/year to $5.21 bln vs the $5.17 bln consensus. Co issues in-line guidance for Q1, sees EPS of $0.26-0.34 vs. $0.33 Thomson Reuters consensus. "Our revenue growth in all geographies remains robust and we continue to leverage our office structure to drive profitability. Europe performed exceptionally, as did our IT staffing. We also experienced strong trends in our solutions offerings. We move into 2011 with much more confidence, a more complete set of solutions and a stronger organization. We are optimistic for a successful 2011."
7:32AM CME Group volume averaged 12.3 million contracts per day in January 2011, up 10% (CME) 315.93 : Co announced January volume averaged 12.3 million contracts per day, up 10 percent from January 2010. Total volume for January was 246 million contracts, of which a record 85 percent was traded electronically.
7:32AM PROLOR Biotech reports positive preclinical results from long-acting Factor IX comparative study (PBTH) 5.57 : Co reports positive results from a comparative study of its biobetter longer-acting version of the hemophilia drug Factor IX in Factor IX-depleted hemophilic mice. In the study, Factor IX-CTP, when compared with commercially available Factor IX, demonstrated a significantly longer duration of clotting activity in the hemophilic mice model. Bleeding episodes were also significantly shorter and less intense for the group treated with Factor IX-CTP. In addition, none of the animals treated with Factor IX-CTP had any spontaneous re-bleeding events, compared with a 50% incidence of re-bleeding events for the group treated with commercial Factor IX and an 83% incidence of re-bleeding events for the untreated group. The new study results support previous preclinical studies that demonstrated significant improvements in the half-life of Factor IX-CTP compared to commercially available Factor IX.
7:30AM On The Wires (WIRES) :
* Brookdale Senior Living (BKD) announced that the Company has entered into an Amended and Restated Credit Agreement. The amended agreement increases the commitment under the credit facility from $120 million to $200 million and extends the maturity date to January 31, 2016. * Isis Pharmaceuticals (ISIS) announced the initiation of a Phase 1 study of ISIS-FXIRx, an antisense drug designed to treat clotting disorders. ISIS-FXIRx inhibits the production of Factor XI, a clotting factor that is an important component of the coagulation pathway. * Beacon Power (BCON) announced that the PJM Interconnection recently began the formal process to implement pay-for-performance regulation pricing in its geographic area, the largest electricity market in the United States. With pay-for-performance pricing, Beacon would be eligible to earn increased revenue from any flywheel-based frequency regulation services it provides in the PJM region. * United Therapeutics (UTHR) announced that enrollment in its FREEDOM-M registration trial was completed on January 31, 2011.
7:17AM Lazard beats by $0.13, beats on revs (LAZ) 42.76 : Reports Q4 (Dec) earnings of $0.76 per share, $0.13 better than the Thomson Reuters consensus of $0.63; revenues rose 18.7% year/year to $610 mln vs the $532.4 mln consensus. During the fourth quarter of 2010, Lazard repurchased 1.22 million shares of Class A common stock and 57,096 exchangeable interests at an aggregate cost of $45.8 million, the majority of which were in separate transactions with the Selling Shareholders. Lazard's remaining share repurchase authorization at December 31, 2010, was $42.8 million.
7:15AM Old Dominion beats by $0.01, beats on revs (ODFL) 32.69 : Reports Q4 (Dec) earnings of $0.39 per share, $0.01 better than the Thomson Reuters consensus of $0.38; revenues rose 28.3% year/year to $399 mln vs the $385 mln consensus. With the acceleration of a portion of the Company's 2011 equipment purchases into 2010, Old Dominion now plans total capital expenditures for 2011 in a range of $265 million to $300 million. These planned expenditures include $120 million to $140 million for real estate, $130 million to $140 million for the purchase of tractors, trailers and other equipment and $15 million to $20 million for investments in technology.
7:15AM BPZ Energy announces $50 million 2011 capital expenditures plan (BPZ) 6.10 : Co announces the 2011 capital expenditures plan, approximating $50 million, for continued development of the Company's assets in northwest Peru. The majority of the capital budget is expected to be spent on offshore Block Z-1, primarily for the design and construction of an additional production platform for the Corvina oil field; as well as, for injection equipment to be installed on the platform in the Albacora oil field by year-end 2011.
7:14AM Johnson Controls prices $1.6 bln Senior Notes Offering (JCI) 38.42 : Co announced that it priced a public offering of $1.6 billion aggregate principal amount of floating and fixed rate senior notes consisting of the following: 1) $350 million of floating rate senior notes that mature in 2014 and bear interest at a rate of three-month LIBOR plus 0.41%, 2) $450 million of fixed rate senior notes that mature in 2014 and bear interest at a rate of 1.75%, 3) $500 million of fixed rate senior notes that mature in 2021 and bear interest at a rate of 4.25%, and 4) $300 million of fixed rate senior notes that mature in 2041 and bear interest at a rate of 5.70%.
7:13AM Navigant Consult misses by $0.01, reports revs in-line; guides FY11 EPS below consensus, revs in-line (NCI) 10.43 : Reports Q4 (Dec) earnings of $0.15 per share, excluding non-recurring items, $0.01 worse than the Thomson Reuters consensus of $0.16; revenues rose 5.2% year/year to $182.9 mln vs the $183.4 mln consensus. Co issues guidance for FY11, sees EPS of $0.70-0.77 vs. $0.79 Thomson Reuters consensus; sees FY11 revs of $715-760 mln vs. $759.33 mln Thomson Reuters consensus.
7:13AM Geo Group prices senior unsecured notes due 2021 at 6.625%; increases size of offering to $300 mln from $250 mln (GEO) 24.58 : Co announces the pricing of its offering of senior unsecured notes due 2021. The Notes will be issued at a coupon rate and yield to maturity of 6.625%. The size of the offering was increased to $300,000,000 aggregate principal from the previously announced $250,000,000 aggregate principal. The sale of the Notes, which is subject to customary closing conditions, is expected to be completed on February 10, 2011.
7:10AM Time Warner beats by $0.05, beats on revs (TWX) 32.31 : Reports Q4 (Dec) earnings of $0.67 per share, excluding non-recurring items, $0.05 better than the Thomson Reuters consensus of $0.62; revenues rose 8.3% year/year to $7.81 bln vs the $7.47 bln consensus. Co sees low teens FY11 EPS growth vs. the +11.9% consensus.
7:10AM Hughes Communications selected by Boeing (BA) to provide ground communications system and core technologies for MEXSAT Project (HUGH) 61.59 :
7:08AM NASDAQ beats by $0.04, beats on revs (NDAQ) 25.33 : Reports Q4 (Dec) earnings of $0.55 per share, excluding non-recurring items, $0.04 better than the Thomson Reuters consensus of $0.51; revenues rose 8.4% year/year to $400 mln vs the $384.7 mln consensus.
7:07AM Nu Skin beats by $0.04, reports revs in-line; guides Q1 EPS in-line, revs below consensus; reaffirms FY11 EPS guidance, revs guidance (NUS) 31.21 : Reports Q4 (Dec) earnings of $0.58 per share, $0.04 better than the Thomson Reuters consensus of $0.54; revenues rose 6.1% year/year to $401.2 mln vs the $397.5 mln consensus. Co issues guidance for Q1, sees EPS of $0.50-0.53 vs. $0.53 Thomson Reuters consensus; sees Q1 revs of $380-390 mln vs. $391.54 mln Thomson Reuters consensus. Co reaffirms guidance for FY11, sees EPS of $2.25-2.35 vs. $2.37 Thomson Reuters consensus; sees FY11 revs of $1.60-1.63 vs. $1.64 bln Thomson Reuters consensus.
7:06AM InterActive misses by $0.07, beats on revs (IACI) 28.55 : Reports Q4 (Dec) earnings of $0.26 per share, excluding non-recurring items, $0.07 worse than the Thomson Reuters consensus of $0.33; revenues rose 26.9% year/year to $451.4 mln vs the $428.9 mln consensus, led by double digit growth at Search, Match and Media & Other.
7:06AM Chelsea Therapeutics reports interim results and plans to modify Study 306 to focus on reduction in falls associated with neurogenic orthostatic hypotension (CHTP) 6.18 : Co announces plans to modify Study 306, a Phase III study of NORTHERA (droxidopa) in symptomatic neurogenic orthostatic hypotension (NOH) associated with Parkinson's disease (PD) following a futility determination at the planned interim analysis of the study's primary endpoint and an unblinded review of multiple, secondary outcome measures showing dramatic reduction in falls and clear signs of therapeutic activity associated with Northera in the first 51 patients to complete Study 306. "We were therefore both surprised and encouraged to observe a 9 to 1 difference in the number of patients reporting falls as an adverse event in our relatively short Studies 301 and 302, and embraced the opportunity to prospectively assess the importance of this objective endpoint in Study 306. We believe the reduction of falls reported to date in Study 306 unequivocally supports the efficacy data generated to date by our Phase III trials and potentially affords us the opportunity to pursue future Northera label expansion to include the prevention of falls in neurogenic orthostatic hypotension associated with Parkinson's disease."
7:05AM AOL beats by $0.14, beats on revs (AOL) 23.85 : Reports Q4 (Dec) earnings of $0.60 per share, $0.14 better than the Thomson Reuters consensus of $0.46; revenues fell 26.1% year/year to $596 mln vs the $587.5 mln consensus.
7:05AM Plug Power receives NASDAQ extension for listing (PLUG) 0.75 : Co announces that the NASDAQ Listing Qualifications Panel has granted the Company's request for continued listing on The NASDAQ Capital Market pursuant to an extension of time, as permitted under NASDAQ's Listing Rules, to comply with the minimum $1.00 bid price requirement. In accordance with the Panel's decision, on or before June 6, 2011, the Company must evidence compliance with the bid price requirement for a minimum of ten consecutive business days.
7:04AM NovaBay Pharma provides synopsis of its accomplishments and progress during 2010, as well as the company's outlook for 2011. (NBY) 1.73 : Co provides a synopsis of its accomplishments and progress during 2010, as well as the company's outlook for 2011. NovaBay is developing commercial opportunities for its Aganocide portfolio of anti-infectives in four distinct healthcare markets: dermatology, ophthalmology, urology and hospital infections. Each of these market segments contain indications that are poorly served or have no approved FDA treatments available, with multiple hundred-million to billion-dollar revenue potential. Co's strategy is to address these market opportunities either through partnerships and collaborations or by building an internal organization to strategically market its own products when appropriate from a commercial standpoint. "In each of these opportunities we have either a Phase 2 clinical asset, or, in the case of hospital infection, we have a device approval from the FDA that we intend to commercialize in 2012."
7:04AM Genworth Financial misses by $0.44 (GNW) 13.94 : Reports Q4 (Dec) loss of $0.28 per share, excluding non-recurring items, $0.44 worse than the Thomson Reuters consensus of $0.16; revenues rose 5.3% year/year to $2.59 bln vs the $2.55 bln consensus. "We demonstrated solid International results, improvements in Retirement and Protection and good sales momentum in the fourth quarter. However, as a result of losses in the U.S. Mortgage Insurance business, our overall results for the quarter and the year were not acceptable. We are taking aggressive actions on several fronts to improve performance in 2011 and beyond, including strengthening U.S. Mortgage Insurance reserves while maintaining good capital flexibility to support new business growth. We are intensely focused on restoring under-performing business lines to acceptable return levels for the capital allocated while sustaining good performance in our other business lines."
7:04AM Apt Inv & Mgt increases quarterly common dividend 20% to $0.12 per share (AIV) 25.75 : Co announces that its Board of Directors declared a quarterly cash dividend of $0.12 per share of Class A Common Stock for the quarter ended December 31, 2010, payable on February 28, 2011, to stockholders of record on February 18, 2011. The fourth quarter 2010 dividend of $0.12 per share represents a 20% increase over the quarterly dividend paid for the last seven quarters.
7:01AM Time Warner raises annual cash dividend by 11% to $0.94 from $0.85/share (TWX) 32.31 :
6:43AM Epocrates prices 5.36 mln share IPO at $16 vs the $13-15 expected range (EPOC) :
6:41AM Matrixx Initiatives: HIG Capital increases offer for shares to $8.75 (MTXX) 8.01 : H.I.G. Capital announces that its affiliates Wonder Holdings and Wonder Holdings Acquisition have increased their offer to purchase all of the outstanding shares of co, to $8.75 per share in cash, without interest and less any applicable withholding taxes. The increased tender offer price represents an increase of 9.4% over the initial offer of $8.00 per share. All other terms and conditions of the tender offer remain unchanged.
6:41AM NeoPhotonics prices 7.5 mln share IPO at $11 per share vs. expectations for 7.0 mln shares at $9-11 (NPTN) :
6:37AM Panasonic to issue 500 bln yen straight bonds in a public offering in Japan (PC) 13.89 : The funds will be used to repay short-term interest-bearing debt Details of the issuance of bonds, including the total amount of bonds, offering price, interest rate, maturity and date of issue, will be determined in the later stage.
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