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Briefing.com: Hourly In Play (R) - 19:01 ET
(Briefing.com)Dec 19, 2005 (Briefing.com via COMTEX) --Hourly In Play (R)
Updated: 19-Dec-05 19:01 ET
16:42
Market Wrap
The market finished the day near session lows as broad-based consolidation closed nine of ten economic sectors in negative territory. While the market showed potential at the onset to get back on the buying track, inspired primarily by a crucial court victory for Pfizer and M&A activity, a lack of notable economic data and worries the Q4 rally may be overdone weighed on sentiment into the close. More...
16:09
ORCL Oracle says it rolls out new multi-core pricing and licensing policy
(12.32 )
Co announced an update to its multi-core processor pricing and licensing policy. The new policies improve parity among hardware vendors and help ensure that customers receive the most advantageous pricing for their Oracle technology software, regardless of the hardware on which it is deployed. Co chose to update its pricing policies to help customers take advantage of the recent advancements in multi-core processor chips from leading vendors. "As technology evolves, we have adapted our licensing models to accommodate those changes. In the same way that the shift from mainframes to client/server and client/server to multi-tiered architectures required new licensing metrics, advancements in multi-core chip technology represents the same," said Jacqueline Woods, VP of Global Pricing and Licensing Strategy. "These new pricing policies will enable our customers to leverage the advancements in multi-core chip technology and derive even more value from their Oracle technology software."
16:09
ANGO AngioDynamics reports $0.01 better than consensus; reaffirms Y06 Revs
Reports Q2 (Nov) earnings of $0.13 per share, $0.01 better than the Reuters Estimates consensus of $0.12; revenues rose 29.9% year/year to $18.7 mln vs the $18.2 mln consensus. The effective tax rate for the 2006 quarter was 37%, compared with 43% for the second quarter of fiscal 2005. The decrease was primarily due to R&D tax credits attributed to the current fiscal quarter. Co reaffirms guidance for FY06, sees FY06 revs of $76 mln vs. $76.89 mln consensus.
16:05
FLOW Flow selected as SanDisk's primary waterjet supplier
(7.37 )
-- Update --
Co announces it has been awarded a mult-imillion contract to supply multiple waterjet cutting systems to SNDK for use in the manufacture of some of its flash memory cards that are being singulated and cut to shape utilizing Flow's ultrahigh precision waterjet shapecutting system. This latest order of waterjet systems joins an already installed base of Flow waterjet systems in use producing some of SNDK memory products.
16:03
PDCO Patterson Companies to acquire Intra Corp, developer of veterinary practice mgmt software, in all-cash deal; no terms
16:02
EMAK EMAK Worldwide eliminates CFO position, announces restructuring
(6.35 +0.25)
Co says it has eliminated the separate position of Chief Financial Officer from its finance organization structure; says Zohar Ziv, EMAK's CFO, has left the company effective immediately. CFO duties will now be shared by Roy Dar, Vice President, Controller and Principal Accounting Officer, and Michael Sanders, EMAK's Vice President, Finance. Co also says it is consolidating its three domestic, non-Burger King product-based marketing solutions. Operating expenses to be cut about $2.8 mln annually. Co expects one-time costs of about $1.8 mln, or $1.1 mln after taxes, to be recognized over the next 3 qtrs.
15:50
UVN Univision joins Nielsen television index
(30.02 -0.23)
The co and Nielsen Media Research announce that they have reached an agreement under which the co will join Nielsen's national TV ratings service, the Nielsen Television Index. The co will become the first Spanish-language television network to be included in this service, which provides television ratings for all the major U.S. Networks such as ABC, CBS, NBC, FOX, etc. Previously, the Univision Network solely subscribed to Nielsen's National Hispanic Television Index, which measures only Hispanic audiences. The co will also continue to subscribe to NHTI.
15:15
GOOG Google attempting to stabilize after probing last wk's breakout point at its early Dec high of 419.53-- session low 420.11
(423.43 -6.72)
-- Update -- -- Technical --
15:12
WYNN Wynn Resorts probing its Dec low set last wk at 54.00-- session low 53.96
(53.96 -0.88)
-- Technical --
Another Gaming related name under pressure with the next support of note at its 200 sma/50 ema are at 53.10/53.02
15:08
PENN Penn Natl Gaming extends intraday slide to its Dec low at 31.47-- session low 31.49
(31.49 -0.59)
-- Technical --
The next support of note is at its 200 day ema at 31.14.
15:01
Earnings Calendar
Today after the close ANGO will report. Tomorrow before the bell look for the following companies to report: FDS, GGXY, MWD, PKE, and PRGS.
15:00
CAT 50 Day-Alert -- Caterpillar slides to new session low of 56.75, hovering slightly above its 50 day ema
(56.77 -2.87)
-- Update -- -- Technical --
Stock broke below the bottom of its roughly three wk trading range (57.07/56.94) today with the recent downside extension leaving its modestly above its 50 day ema at 56.63.
14:31
LLY Eli Lilly increases their dividend by 5% to $0.40 for 1Q06
(57.73 +1.07)
14:28
COMPX Nasdaq Composite hovering near session low of 2232.17 and the bottom of its three plus wk trade range at 2233/2230
(2233.47 -19.01)
-- Technical --
13:30
ATPG ATP Oil & Gas increases venture ownership of a field in the Southern Gas Basin of the UK North Sea
(36.46 -0.08)
Co announces it has increased its ownership to 100% in the Venture field (Block 49/12a North) in the Southern Gas Basin of the UK North Sea. The co acquired the remaining 50% ownership interest pursuant to a Sale and Purchase Agreement with ConocoPhillips (COP). This 100% ownership will allow the co to proceed effectively with the field development plan approval process. The Venture field in the Southern North Sea is located 145 km east of Humberside in 75' of water. The reservoir formation is located at approximately 10,500' TVDSS. The field has been defined by two vertical wells that have been tested at rates of 35 MMcf/d and 74 MMcf/d. Development plans for Venture include a production platform and a pipeline to an offset host platform with planned production for the first half of 2007.
13:21
S&P 500 and Nasdaq Comp edge to minor new session lows-- Technical --
12:42
BCON Beacon Power: Nasdaq staff has affirmed that Beacon has regained compliance
(1.98 -0.12)
12:16
BRL Barr Pharma announces Carole S. Ben-Maimon, M.D., President and Chief Operating Officer of duramed research, intends to resign from the co
(60.05 -0.71)
Co announces Carole S. Ben-Maimon, M.D., President and Chief Operating Officer of Duramed Research, intends to resign from the co to pursue new opportunities. Dr. Ben-Maimon will continue to manage the co's proprietary product research organization until a successor is named and will remain with the co until Sept 2006 to ensure an orderly transition. Dr. Ben-Maimon will remain a member of Barr's Board of Directors.
12:03
TWX Time Warner: Icahn issues open letter to TWX board of directors; deeply concerned that the Board may be on the verge of making a disastrous decision
(18.10 +0.10)
In a press release Carl Icahn says "...I am deeply concerned that the Time Warner Board may be on the verge of making a disastrous decision concerning an agreement with Google if this agreement would make it more difficult in any way or effectively preclude a merger or other type of transaction with companies such as IAC/InterActive, eBay, Yahoo!, or Microsoft etc. etc... I believe there are and will be major opportunities to enhance Time Warner's value in future combinations. However these transactions might not be achievable if Time Warner enters into long-term arrangements that preclude future flexibility such as an agreement regarding search functionality. I also question whether Google is the best partner for unlocking the value of the AOL asset.... Once again, I am not opposed to the Board using its business judgment to enter into a transaction with Google or another suitor so long as the transaction does not destroy or impede Time Warner's flexibility to unlock shareholder value in the near and long term. However, I want this letter to serve as notice to Time Warner's directors that if they enter into a transaction that has that effect, shareholders will seek to hold directors responsible."
12:00
LEND Accredited Home Lenders sees 2006 EPS of $7.70-8.00 vs $7.74 consensus
(47.51 +0.80)
-- Update --
Co sees 2006 EPS of $7.70-8.00 vs $7.74 consensus. Firm believes that the critical issues facing the industry in the months ahead will be the ability to improve spreads and margins through appropriate pricing. "Achieving the earnings growth projected for 2006 will depend, in large part, on the pricing behavior in the non-prime mortgage origination market. We are encouraged that many of our competitors have been recently putting margin back into loan pricing. To the extent this trend of increasing interest rates to borrowers continues into 2006, we expect to be at the top of the EPS range. Conversely, pricing at, or slightly below, current levels will likely result in 2006 earnings at the lower end of the range."
11:42
TRCI Technology Research Corp. announces $1.7 mln in new orders from Karcher
(4.03 +0.12)
Co announced that it has received follow on orders from Alfred Karcher's China subsidiary, of approximately $1.7 mln for G.F.C.I. power cords for their sprayer/washer product lines. Deliveries for this order are planned to commence in May 2006 with scheduled shipments through September 2006.
11:32
ELON Echelon's NES Smart Electricity Metering System selected by Vattenfall AB for up to 700,000 Customers;
(8.09 +0.45)
Co announces that the Swedish utility, Vattenfall AB, has selected the co's NES System for deployment of what is believed to be the largest installation of a modern, intelligent metering infrastructure since its groundbreaking project with Enel in Italy. Vattenfall has selected NES Value-Added Reseller partner Telvent (TLVT) as the prime contractor to supply the NES metering system to up to 700,000 customers beginning in the first quarter of 2006. The completed project would represent approx 13% of the entire Swedish residential market which is in the early stages of transitioning to fully automated metering in response to legislation designed to promote a more open and efficient energy market. The initial six phases are expected to complete by early 2008 with expected rev to the co of between $20 mln and $30 mln. With options, the project could extend into 2008 or 2009 and lead to over $50 mln in rev, depending upon how many options Vattenfall exercises, if any.
11:10
IMAX Imax signs three-theatre deal in South America
(7.56 -0.71)
-- Update --
Co announces an agreement with RACIMEC International to install three IMAX theatre systems into new entertainment retail developments in Chile and Venezuela. Two IMAX theatres are scheduled to open in Santiago, Chile, with one to open in Caracas, Venezuela.
11:00
HAUP Hauppauge Digtl launches TV recorder for video iPod and sony PSP; Wing pc-based application records TV shows for portable video players
(4.44 +0.44)
-- Update --
Co announces the release of its new "Wing" software, enabling consumers to record TV shows on a personal computer for playback on the Sony Playstation Portable, Apple video iPod, and other portable video players. Wing can also be used to convert existing TV recordings to the PSP and iPod format.
10:51
SFCC SFBC Intl announces employee and Board member resignations
(14.70 +1.56)
-- Update --
Co announced that it has accepted the resignation of Jerry Seifer, effective immediately. Separately, Leonard I. Weinstein, an outside member of SFBC's board of directors, has resigned for personal health reasons. As a consequence of this resignation, the board of directors currently consists of four employee directors and four independent directors. The co is initiating a search to recruit a new independent board member to further expand the breadth and depth of the board of directors. In accordance with NASDAQ rules, the co intends to add another independent director no later than the next Annual Meeting.
10:49
ASEI American Science & Engineering establishes marketing and distribution channel in China for the ZBV with Nuctech
(62.89 -0.51)
Co announces a marketing and distribution partnership in China with Nuctec for the Z Backscatter Van. In addition to acting as a value added reseller, Nuctech will supply parts, training, warranty and service and support for the ZBV. The partnership will enable the co access into the Chinese security inspection market. The agreement provides for Nuctech to integrate a pre-assembled X-ray sub-system of the co's Z Backscatter Van into a local vehicle chassis for distribution to Chinese customers.
10:43
Remarks from President Bush at press conference
President refers to his address given last night on democracy in the Mid-East, notes that formation of new govt in Iraq will take time, will require patience... Referring to al-Queda, says he has the constitutional authority to defend country, authorized interception of conversations w/ people with known links to al-Queda. Intends to reauthorize this authority again. Will push for reauthorization of the Patriot Act after the Senate filibustered it last week... Says US economy is strong and getting stronger... Looks forward to up/down vote on Alito Supreme Court nomination... Q&A just started.
10:39
MSA Mine Safety selected by State of Florida to enhance homeland security/HazMat response capabilities
(37.20 -0.05)
Co announced today that it has secured a contract to furnish Florida emergency response agencies with a line of hazard detection systems that will be used to enhance the state's already formidable homeland security and HazMat response capabilities. The contract includes the largest order to date for MSA's SAFESITE Multi-Threat Detection System, a new wireless system designed for perimeter monitoring at public events, as well as monitoring of mass transit systems, shipping ports and other facilities that could be the target of a terrorist incident.
10:38
HMSY HMS Holdings: Los Angeles county extends contract with Health Mgmt Systems; with the extensions, the contract has a total value of more than $10 mln.
(7.75 -0.08)
10:32
President begins press conference
10:26
RAI Reynolds American reaches agreement with Japan Tobacco
(98.05 +0.76)
Co announces it has entered into an agreement with Japan Tobacco and its group of companies to purchase the rights to sell several cigarette brands formerly sold by the JT Group to U.S. duty-free shops and U.S. overseas military outlets. The companies expect the deal to be closed by the end of the year. Financial terms of the transaction are not being disclosed at this time.
10:15
BOT CBOT Holdings and SGX establish joint venture to launch an electronic commodities derivatives exchange
(90.90 -0.80)
The co and the Singapore Exchange announced their agreement to form a 50/50 joint venture company called the Joint Asian Derivatives Pte. The purpose of the joint venture is to establish a commodities derivatives market, to be known as the Joint Asian Derivatives Exchange. It is expected that J.A.D.E will commence operations by the end of the third quarter of 2006. In the initial phase, the new exchange will be operated by Singapore Exchange Derivatives Trading Limited under its existing license granted by the Monetary Authority of Singapore. The joint venture will develop commodity contracts to be traded on J.A.D.E. The new products will be hosted on the co's electronic trading platform, powered by LIFFECONNECT.
10:14
CYTX Cytori Therapeutics begins trading on the Nasdaq as part of a dual listing on the Nasdaq and Frankfurt exchanges
(7.90 -0.10)
10:11
MATW Matthew's Declines To Purchase Distributor
(38.20 -0.30)
Co announces it has notified Yorktowne Caskets that the co has declined to exercise its right of first refusal under its distributor agreement with Yorktowne and, accordingly, will not match the offer of Batesville Services an affiliate of Batesville Casket co, to purchase the stock of Yorktowne for approx $58 mln.
10:04
CKSW ClickSoftware: major European utility selects ClickSoftware for optimized field service mgmt
(1.73 +0.06)
Co announces a new deal to supply products and related services to a major European utility co. The Utility co has purchased several products from the co's ServiceOptimization Suite, including tools for optimized scheduling and analytics. This significant deal was won and will be implemented through IBM, a key partner of ClickSoftware in the energy and utilities market worldwide. The solution will be integrated with the customer's existing SAP backend system. This contract signifies another major win in the utility sector, and it joins a sequence of major ClickSoftware wins announced in the past sixty days, revs from which are expected to be recognized across several quarters.
10:01
RTK Rentech announces D. Hunt Ramsbottom has been appointed Chief Executive Officer
(4.03 +0.03)
09:58
KWD Kellwood announces Robert Skinner was elected chairman of the co effective Feb 1, 2006
(23.18 -0.10)
09:47
IMA Inverness Medical announces FDA clearance for avian influenza claim with the BinaxNOW influenza A & B test
(23.00 +0.01)
Co announces it obtained 510(k) clearance from the FDA for a new claim with the BinaxNOW Influenza A & B Test. The BinaxNOW Influenza A & B Test now includes avian influenza H5N1 isolates in its list of influenza strains.
09:45
FOXX Foxx & Hound Acquisition Corp. revises offer price to $14.50/share for Fox & Hound Restaurant Group
(14.15 -0.23)
Co announces that as a result of its due diligence review of information provided to it by Fox & Hound Restaurant Group (FOXX) it has revised the purchase price per share of the cash tender offer it has previously announced that it intends to commence to purchase all of the outstanding shares of common stock of Fox & Hound Restaurant Group not owned by it for $14.75/share to $14.50/share. In addition, F&H Acquisition Corp. announced today that it has entered into discussions with Fox & Hound on the terms of a tender offer/merger agreement. There can be no assurance that these negotiations will lead to the execution of a definitive merger agreement with Fox & Hound.
09:41
IVX Ivax receives final approval on clozapine tablet
(31.74 -0.33)
Co announces it has received final approval from the FDA for its Abbreviated New Drug Application for clozapine tablets USP, 200 mg. Clozapine is the generic equivalent of Clozaril which is marketed by Novartis (NVS) and used in the treatment of schizophrenia. The drug is currently available in 100, 50, 25 and 12.5 mg tablet dosage strengths. The 200 mg tablet is a new dosage strength developed by IVAX to create additional dosing options. According to IMS data, annual U.S. sales for Clozaril and its generic equivalent clozapine were $135.5 mln for the twelve months ended September 30, 2005.
09:29
GIGM GigaMedia buys world no. 1 Mahjong site and leading Asian game portal
(2.54 )
GigaMedia Limited entered into a definitive agreement today to acquire FunTown, a leading Asian online casual game portal and operator of the world's largest online Mahjong game site in terms of revenue. GigaMedia expects the transaction to be strongly EPS accretive and generate significant increases in revenues and net income beginning in the first quarter of 2006. On an unaudited, management account basis, FunTown is expected to generate approximately $5.1 million in net income in 2005. Looking ahead, GigaMedia anticipates 20 percent to 30 percent growth in FunTown's business in 2006.
09:17
ZRAN Zoran and Xoceco establish joint technology laboratory in China
(16.76 )
Co announces the opening of a joint product development laboratory with Xiamen Overseas Chinese Electronic Corporation Limited. The new lab, opened at Xoceco's headquarters in Xiamen China, enables both companies to collaborate more closely on the development of innovative new products using the co's highly integrated solutions for Digital TV chassis and set top box. The co's SupraHD and SupraTV digital TV decoder products are designed into a broad range of Xoceco's products including LCD and Plasma TVs and set-top boxes that are supplied under well-known brand names to consumers worldwide.
09:15
S&P futures vs fair value: +2.8. Nasdaq futures vs fair value: +6.5.
09:07
On The Wires
Caraco Labs (CPD) announces that the FDA has granted final approval for the co's Abbreviated New Drug Application for Tramadol Hydrochloride with Acetaminophen Tablets... Openwave Systems (OPWV) announces a strategic reseller agreement with Thumbspeed to enable Openwave to offer Thumbspeed's instant messaging client for both operators and handset manufacturers... Captaris (CAPA) announced an agreement with Cannon for Captaris to develop an application using Canon's innovative Multifunctional Embedded Application Platform to connect Canon and Captaris products.... FiberGel Technologies, a subsidiary of Circle Group (CXN) announces they received a purchase order for 2500 pounds of Z-Trim for immediate delivery.
09:02
CVD Covance reaffirms Y05 guidance, excluding charge, names Joseph Herring as new CEO
(48.70 )
Co announces it will repatriate approximately $103 mln of undistributed foreign earnings during Q4 (Dec), income tax expense and related liability associated with this repatriation will result in $0.07 charge. Excluding this charge, co reaffirms Y05 guidance of $1.91 vs $1.92 consensus. Co also names Joseph Herring as permanent CEO, was acting CEO since Jan 2005.
09:02
EPIC Epicor announces accelerated stock option vesting
(13.49 )
EPIC board OKs accelerated vesting of about 475,000 out of the money options w/ exercise prices greater than $14.30 per share; options held by non-employee directors are excluded.
09:01
SQNM Sequenom's MassARRAY system with iPLEX chosen by GeneSeek for high-throughput, multi-species DNA testing
(0.69 )
Co announced today that GeneSeek has agreed to purchase SQNM's proprietary MassARRAY genetic analysis system for animal diagnostic testing, traceability and contract research and development. GeneSeek intends to use Sequenom's high throughput MassARRAY system which offers flexible panel design, accuracy and call rate efficiency to conduct animal genotyping for a number of its customers.
09:01
DNA Genentech submits Supplemental Biologics License Application for Avastin in relapsed metastatic colorectal cancer
(92.35 )
Co announces that it has submitted a supplemental Biologics License Application (sBLA) with the FDA for Avastin in combination with 5-fluorouracil-based chemotherapy for patients with relapsed, metastatic colorectal cancer. Avastin is currently approved as a first-line treatment of metastatic colorectal cancer in combination with intravenous 5-FU-based chemotherapy.
09:01
FWLT Foster Wheeler awarded contract for new pulverized-coal boiler at dallman station, Illinois
(37.56 )
Co announces it has been awarded a contract to design and supply a new 200 megawatt pulverized-coal-fired steam generator for a new power plant to be built at City Water, Light & Power's Dallman Generating Station in Springfield, Illinois. The co will supply the steam generator to Kiewit/Black & Veatch, the owner's lump-sum turnkey engineering, procurement and construction contractors for the new power plant. The co's contract, which exceeds $40 mln, will be included in the company's fourth-quarter bookings.
09:00
S&P futures vs fair value: +2.8. Nasdaq futures vs fair value: +6.5.
Futures indications are off their best levels but the stage remains set for stocks to open on an upbeat note. Better than expected Q3 earnings from Circuit City (CC) and reaffirmed 2-4% Dec. comps growth from Wal-Mart (WMT) could give retail stocks a boost. Analyst downgrades on Banc of America (BAC) and some chip stocks (i.e. AMD and TXN), in contrast, could stall recent momentum in the bank and semiconductor groups, respectively.
08:58
BLC Belo announces monthly revenue and statistical report Nov 2005
(21.17 )
Co announces consolidated reve for Nov increased 3.5% versus Nov of last year with increases in the Newspaper Group and the Television Group. Newspaper Group total rev increased 7% for the month of Nov versus the prior year, with a 6.6% increase in advertising rev. Total advertising revenue increased 6.5% at The Dallas Morning News, 9.7% at The Providence Journal, and 3.5% at The Press-Enterprise in Riverside. Television Group revs increased 0.4% in Nov versus the prior year with spot revenue down 1.1%. Local spot revs increased 5% while national spot revs decreased 4%. Political revin Nov 2005 was $1.2 mln versus $2.9 mln in Nov of last year. Excluding political revenue, Television Group revenue would have increased 3.2% in November.
08:55
Offerings/pricings
Kintera (KNTA) offers 6.3 mln shares at $2.63... Cell Therapeutics (CTIC) announces $82 mln convertible offering w/ initial conversion price of about $2.63 per share... Wave Systems (WAVX) registers to sell common stock, preferred stock, warrants or units in an amount not to exceed $25 mln... Boyd Gaming (BYD) registers to sell common stock, preferred stock, debt securities, warrants and/or units... Aqua America (WTR) registers to sell common stock, preferred, common stock purchase contracts, common stock purchase units, depository shares and/or debt securities.
08:52
SGMO Sangamo BioSci announces breakthrough results at ICAAC demonstrating protection of cells from HIV infection following treatment with zinc finger
(3.90 )
Co announced saturday data from its program to develop a ZFP Therapeutic for HIV/AIDS were presented at the 45th Annual Interscience Conference on Antimicrobial Agents and Chemotherapy The study represents the first demonstration that cells can be made resistant to HIV infection by treatment with the co's proprietary zinc finger DNA-binding protein nucleases designed to specifically disrupt the CCR5 gene. The researchers found that ZFN-modified cells were resistant to HIV infection whereas control cells were infected when challenged with the virus. Furthermore, when CCR5 expression was experimentally restored in the ZFN-modified cells, HIV was once again able to infect these cells. The co has shown disruption of the CCR5 gene in a number of different cell types including T-cells, the target cell for this therapeutic approach. provide HIV-infected individuals with a reservoir of healthy and uninfectable T-cells that would be available to fight both opportunistic infections and HIV itself. "In this program, we have been working in close collaboration with Dr. Carl June at the University of Pennsylvania with the goal of initiating a Phase 1 clinical trial to test our ZFP Therapeutic in 2006."
08:37
On The Wires
ContextWeb announces that TheStreet.com (TSCM) will display ContextWeb's contextual advertisements on its leading Web sites including "RealMoney.com," and its flagship site, "TheStreet.com."... Arbinet-thexchange (ARBX) has filed a patent infringement lawsuit against World-Link Telecom in the U.S. District Court in the Eastern District of New York. Arbinet asserts that World-Link has infringed three of its U.S. patents relating to the trading of telecommunications capacity.
08:36
CLX Clorox guides for Q2, Q3 and Q4; reaffirms FY06 guidance
(55.76 )
Co sees Q2 EPS of $0.44-0.49 vs $0.45 consensus; sees 2-4% sales growth. Co sees Q3 EPS of $0.66-0.73 vs $0.74 consensus; sees 4-7% sales growth. Co sees Q4 EPS of $1.04-1.14 vs $1.06 consensus; sees Q4 sales growth of 3-5%. Co reaffirms FY06 EPS guidance of $2.91-3.06 which includes $0.14-0.16 impact from stock based compenstation, vs $2.95 consensus; sees FY06 sales growth at the high end of 3-5%.
08:31
MNT Mentor Corp: Puragen and Puragen Plus dermal filler products approved in Canada
(46.22 )
Co announced that it has received approval to begin marketing and distributing its Puragen and Puragen Plus hyaluronic acid-based dermal filler products in Canada. Both products are indicated for the correction of facial folds and wrinkles and for lip augmentation and will be distributed through Mentor's Canadian subsidiary.
08:31
FCEL FuelCell Energy High-Efficiency Power Plant Sold to Japanese Ceramics Manufacturer
(9.04 )
Co announces the sale of a 250-kW Direct FuelCell power plant by its Asian distributor, Marubeni Corp., to NGK Insulators, Ltd., a ceramics manufacturing co in Japan. Co says "Integrating a highly efficient DFC power plant into our ceramics kiln operations is expected to help us to meet our carbon dioxide emissions reduction objectives while saving energy costs."
08:31
BLUD Immucor promotes Patrick D. Waddy to chief financial officer from interim CFO.
(24.65 )
08:31
S&P futures vs fair value: +2.5. Nasdaq futures vs fair value: +6.0.
Even in the absence of any notable economic data to set the direction for early action, upbeat corporate news continues to underpin a positive underlying tone for stocks. Bonds, however, are consolidating early on ahead of a PPI report tomorrow that could question the containment of inflation at the producer level. The 10-yr note is down 5 ticks to yield 4.45%.
08:30
ABMD Abiomed Appoints Daniel Sutherby as CFO
(9.06 )
Co names Daniel Sutherby as new CFO, comes from position as Corporate Director of Global Accounting & Finance at PerkinElmer (PKI). Charles Haaser, who has served as ABMD's interim acting CFO, will continue as the co's Corporate Controller and Principal Accounting Officer.
08:30
STXN Stratex Networks receives eclipse expansion order of $5 mln from MTN Nigeria affiliate
(3.61 )
Co announces it had recently received an expansion order for the Eclipse Nodal Wireless Transmission system valued at US $5.0 mln from MTN Nigeria. Earlier this yearthe co concluded a preferred supplier agreement with the MTN Group. The agreement recognizes the co as a preferred supplier to MTN Group for microwave transmission equipment. The preferential supply agreement has a term of five years and allows the MTN Group operations to rapidly deploy network expansions and increase rollout schedules by taking advantage of already approved technology, and commercial terms and conditions.
08:23
On The Wires
McDermott International (MDR) announces it has received recent awards of several major U.S. government contracts. The awards, valued together in excess of $410 mln, are for the manufacture of components in support of U.S. defense programs... Cobra (COBR) announces what it calls industry's smallest lithium ion-powered 17-mile G.M.R.S. two-way radios... DT (IDT) postpones previously announced initial public offering of IDT Spectrum Class B common stock; registration statement withdrawn; co says postponement was due to market conditions and its ability to finance the current stage of its development without recourse to the public equity markets... Chiron (CHIR) announces that an independent Data Monitoring Committee has recommended the continuation of CHIR's Phase III CAPTIVATE study... Segue Software (SEGU) announces that all of the holders of its Series B and Series C Preferred Stock have converted such securities, according to the terms of the co's Amended Certificate of Incorporation, into shares of co common stock on a one-for-one basis... Netopia (NTPA) announces that Pfizer(PFE) has selected Netopia's Broadband Server platform to centrally manage, support, and administer Pfizer's broadband equipment deployed to over 10,000 remote sales representatives in Pfizer's North America field organization... Spartan Stores (SPTN) announces it has entered into a purchase agreement to acquire certain operating assets of D&W Food Centers. The co anticipates that the closing of the transaction will be completed late in its fiscal 2006 fourth quarter or early in its fiscal 2007 first quarter. Upon completion, the transaction is expected to increase the co's retail segment sales by approx $200 mln annually and to be accretive to earnings within the first 12 months.... Top Image Systems (TISA) announces that a large eastern airline company has chosen TIS' eFLOW3, the latest version of the co's leading software, as its document automation solution.
08:23
CVC Cablevision announces technical covenant violations; will not proceed with special dividend
(24.00 )
Co announced that during the course of preparing for the financing of its proposed special dividend, it ascertained that there were certain technical covenant violations under CSC Holdings existing bank credit agreement and certain possible technical covenant violations under other debt instruments. The Company is in the process of and intends promptly to complete a comprehensive covenant compliance review, seek waivers under its bank credit agreement and, if necessary, seek waivers under its other debt instruments and consider the impact of such potential covenant violations on the classification of debt in its prior financial statements. As a result of these matters, on December 18, 2005, the Company's Board of Directors decided not to proceed with the proposed special dividend. The recently announced senior note offering will not proceed.
08:18
IDNX Identix awarded contract to help ensure "One Person, One Vote'' with ABIS biometric facial recognition backend database
(4.96 )
Co announces it was awarded a contract for its ABIS facial identity mgmt solution to help ensure "one person, one vote" in an unnamed foreign country. "We are seeing strong traction for our ABIS biometric matching platform for integration into identity mgmt solutions throughout the world. Including today's announced contract, in just the first six months of our fiscal 2006 year, we have already announced face and finger ABIS contracts with rev potential in fiscal 2006 exceeding $7 mln. This total eclipses our ABIS revs of approx $5 mln for the entire fiscal year ended June 30, 2005. Importantly, our ABIS solution consists primarily of backend software matching engines, representing high margin business for Identix.
08:07
EMKR Emcore Acquires Force
(6.77 )
Co announces it has acquired privately-held Force, including its fiber optic transport and video broadcast products, technologies, and intellectual property. The mostly stock-for-assets transaction closed on Sunday, Dec 18, 2005, and will be immediately accretive to the co's shareholders. Financial terms of the acquisition were not disclosed. EMCORE management anticipates that this transaction will provide approximately $6 mln of revenue for calendar year 2006, and upon integration will be operationally profitable.
08:06
MNTG MTR Gaming retains Financial Advisors
(10.02 )
Co's Special Committee of the Board of Directors has decided to retain CIBC World Markets and Lazard Freres & Co as its financial advisors to assist the Committee in its evaluation of the proposal, alternatives, and determination of what is in the best interests of MTR and its stockholders. MTR cautions shareholders and investors that this process is only in its beginning stages and there can be no assurance that the proposed transaction or any other strategic transaction will be approved or completed.
08:04
ZOLL ZOLL Medical: Teradyne chooses ZOLL defibrillators for global early defibrillation program
(26.53 )
Co announces that Teradyne (TER) has chosen the co's AED Plus automated external defibrillator for deployment in Teradyne facilities in 15 countries, effective immediately. In addition, Teradyne has chosen En-Pro, a co affiliated with ZOLL, to provide the design, implementation, and ongoing management of the company's AED program. En-Pro will also train Teradyne employees at all sites to act as first responders in the event of an emergency. Teradyne's worldwide deployment is one of the most comprehensive AED programs undertaken by a New England-based company. Teradyne expects to have all of the AEDs deployed by the end of December 2005.
08:04
AEY ADDvantage Technologies reports Q4 EPS of $0.15 vs $0.08 in 4Q04; revs rose 40% YoY to $16 mln
(4.68 )
ADDvantage Technologies (AEY) reports Q4 EPS of $0.15 vs $0.08 in 4Q04; revs rose 40% YoY to $16 mln. "We anticipate the continuation of our previously announced growth strategy in fiscal 2006 will produce another record year. We believe our strong relationships with leading product manufacturers, including Motorola and Scientific-Atlanta, and our positive reputation in the multi-billion dollar CATV industry positions ADDvantage Technologies for long-term success."
08:02
DRTE Dendrite says it gets software deal from major pharmaceutical company
(14.63 )
DRTE says major pharma co deploys Dendrite marketing solutions to address the market not served by sales reps; co says deal is meant to grow revs for a mature, $1 bln brand. Terms not disclosed.
08:02
CC Circuit City beats by $0.02, revs above consensus; raises domestic comparable store sales guidance
(21.25 )
-- Update --
Co reports Q3 EPS of $0.06 vs $0.04 Reuters Estimates consensus; revs rose 14.7% to $2.91 bln vs $2.69 bln consensus. Co sees FY06 operating margin guidance of 1.6-2% vs 1.3-2.3% previous guidance. Company raised its range of expectations for domestic comparable store sales growth. The company now expects domestic comparable store sales growth in the mid- to upper-single digit range. The company's previous expectation was comparable store sales growth in the low- to mid-single digit range.
08:02
CLZR Candela Begins Worldwide Shipment of New PDL Platform
(14.62 )
Co announced that it has commenced shipment of its new Pulsed Dye Laser Platform. The new Platform is a continuation of the successful Vbeam product line and features three new models, the Aesthetica, the Platinum, and the Perfecta. The new models have also received European CE certification and will now be in the hands of practitioners worldwide. The new Platform allows practitioners to treat stubborn skin conditions more aggressively than before. With the new "Micro-Pulse" design, practitioners can now perform more aggressive treatments which produce faster results without unnecessary downtime for patients.
08:01
BSTE Biosite and Roche Diagnostics Request Stay of Litigation
(58.51 )
Co announces that it is in discussions with Roche Diagnostics regarding a potential settlement of pending litigation. Biosite and Roche Diagnostics filed joint requests to stay the litigation in the United States District Courts in the Southern District of California and the Southern District of Indiana for a period of 120 days. In the case pending in Indiana, Roche Diagnostics is alleging that Biosite is infringing two patents owned by Roche. In the case pending in California, Biosite is alleging that Roche Diagnostics is infringing three patents owned by Biosite.
08:01
MYL Mylan Labs announces final approval for bisoprolol fumarate tablets
(20.96 )
Co announces it has received final approval from the FDA for its Abbreviated New Drug Application for Bisoprolol Fumarate Tablets USP, 5mg and 10mg. Bisoprolol Fumarate Tablets, which are the AB-rated generic version of Duramed Pharmaceuticals' Zebeta Tablets, 5mg & 10 mg, had U.S. sales of approximately $27 mln, for the 12-month period ended June 30, 2005, according to IMS Health.
08:01
CBE Cooper Industries reaches agreement to resolve Abex Asbestos liabilities, will pay $130 mln in cash
(74.96 )
Company and other parties involved in the resolution of the Federal-Mogul bankruptcy proceeding have reached an agreement regarding CBE's participation in Federal-Mogul's 524 asbestos claimants' trust. By participating in this trust, CBE will resolve its liability for asbestos claims arising from Cooper's former Abex Friction Products business, proposed settlement agreement is subject to court approval. CBE will pay $130 mln in cash to trust, CBE will receive $37.5 mln from other parties associated with Federal-Mogul bankruptcy. Co will also provide 1.4 mln shares to trust after Federal-Mogul emerges from bankruptcy. CBE will also make 25 annual payments of up to $20 mln to the trust.
08:00
S&P futures vs fair value: +2.9. Nasdaq futures vs fair value: +7.0.
Futures market versus fair value suggesting a higher open for the cash market. Renewing investor enthusiasm following Friday's ho-hum performance has been a legal victory for Pfizer (PFE) tied to the exclusivity of its Lipitor patents. Confirmation that FPL Group (FPL) will acquire Constellation Energy (CEG) for $11 bln has also provided early buying support.
07:59
On The Wires
Hythiam (HYTM) announces it has entered into a licensing and services agreement to offer its PROMETA protocols through two of Compass Health Systems' seven behavioral health care sites in the South Florida region. C.H.S raises the total number of Hythiam licensed sites in Florida to five, joining The Village South in Miami, Recovery from Addictions in Naples, and Life Works in Fort Meyers. C.H.S is the largest behavioral group practice in the state of Florida, and will initially offer PROMETA through its Miami and Fort Lauderdale sites... Arbinet-thexchange (ARBX) discloses that they filed a patent infringement lawsuit against World-Link Telecom, asserting that World-Link has infringed three of its U.S. patents relating to the trading of telecommunications capacity.
07:56
CC Circuit City Chairman and Chief Executive Officer W. Alan McCollough sets retirement dates
(21.25 )
Co announces that W. Alan McCollough decided to retire as chief executive officer effective Feb 28, 2006, and to retire as chairman of the board of directors at the 2006 Annual Meeting of Shareholders. He has decided not to stand for reelection to the board at the end of his term that expires in June 2006. At a meeting of the co's board of directors on Saturday, Dec 17, 2005, Philip J. Schoonover was elected unanimously to the board, effective immediately, and named chief executive officer effective March 1, 2006.
07:50
NCIT NCI awarded $2.57 mln army national guard contract
(13.50 )
Co announces it has been awarded a five-year task order worth approx $2.57 mln, through the Department of Veterans Affairs Global Information Technology Support Services contract. As the prime contractor under this task order, NCI will develop a secure, wireless interactive logistics maintenance solution for the Army National Guard Tactical Logistics Data Digitization program located at Fort Indiantown Gap, Pa.
07:49
More On The Wires
Bradley Pharmaceuticals (BDY) disclosed today a tentative timetable for its filing with the S.E.C of its Annual Report on Form 10-K for year ended Dec 31, 2004, amended Form 10-Q for the quarter ended Sept 30, 2004, Quarterly Reports on Form 10-Q for each of the quarters ended March 31, 2005, June 30, 2005 and Sept 30, 2005, and Annual Report on Form 10-K for the year ending Dec 31, 2005... Sun Microsystems' (SUNW) Mobile Enterprise Solution selected by Dalkia to increase productivity and effectiveness of field services engineers by optimizing work processes.
07:38
ARTG Art Technology wins deal with Clarke American
(2.02 )
Co wins contract to power e-commerce site of privately held Clarke American, provider of checks and check-related products, contact center services, Internet and direct response marketing solutions. Financial terms not disclosed.
07:34
On The Wires
SONOFON has been awarded the fourth Danish UMTS-license by The Danish National IT and Telecom Agency at a price of DKK 533 mln. SONOFON plans to launch its first 3G services in 2006. Telenor (TELN) has already 3G services in Norway, Sweden and Hungary and SONOFON will benefit from Telenor's experience in the roll-out of the Danish 3G network. By obtaining the 3G license, SONOFON ensures that its customers will achieve the full benefit from fast mobile data connections and a wide variety of advanced mobile telephony services.... Syneron Medical (ELOS) today announced the resignation of former CEO, Moshe Mizrahy, from the Board of Directors of Syneron Medical. No replacement has yet been appointed... Viisage (VISG) announces that it has completed the acquisition of Integrated Biometric Technology announced in Oct 2005.
07:31
ELRC Electro Rent beats by a penny
(14.19 )
Co reports Q2 (Nov) EPS of $0.22, $0.01 better than $0.21 single analyst est; revs rose 1.8% to $28 mln, no estimate available. CEO comments, "While it appears likely that revenue for fiscal 2006 will exceed revenue for fiscal 2005, our ability to overcome the unusual financial events that had a significant positive impact on last year's bottom-line results is less clear".
07:30
VIAC Viacell: FDA lifts clinical hold on ViaCell CB001 trial
(5.12 )
Co announced that the FDA has lifted its clinical hold on the co's Phase I study evaluating CB001, an investigational cord blood stem cell product for hematopoietic stem cell transplantation in patients affected by a variety of cancers. ViaCell intends to submit information to the Investigational Review Boards at each study site to request immediate resumption of enrollment in the Phase I clinical trial of CB001. To date, CB001 has been administered to eight of ten patients in the study.
07:30
IVAC Intevac Receives Order for 200 Lean Systems; Six Systems Scheduled for Delivery in First-Half 2006
(12.17 )
Co received a follow-on order for six 200 Lean magnetic disk sputtering systems. The systems are scheduled for delivery and revenue recognition during the first half of 2006. Chief Executive Kevin Fairbairn remarked, "With the receipt of this order we now have excellent revenue visibility for the first six months of 2006 with nearly half of our projected 200 Lean shipments for 2006 already in backlog."
07:17
Stock Index Changes to become effective today- GOOG to enter Nasdaq 100
The following 12 issues will be added to the NASDAQ-100- Google Inc. (GOOG), NII Holdings, Inc. (NIHD), Expedia, Inc. (EXPE), Patterson-UTI Energy, Inc. (PTEN), NVIDIA Corporation (NVDA), Urban Outfitters, Inc. (URBN), Cadence Design Systems, Inc. (CDNS), Activision, Inc. (ATVI), RedHat, Inc. (RHAT), Monster Worldwide, Inc. (MNST), CheckFree Corporation (CKFR), and Discovery Holding Company (DISCA). The following 12 companies will be removed: Career Education Corporation (CECO) Dollar Tree Stores, Inc. (DLTR), Intersil Corporation (ISIL), Invitrogen Corporation (IVGN), Level 3 Communications, Inc. (LVLT), Millennium Pharmaceuticals, Inc. (MLNM), Molex Incorporated (MOLX), Novellus Systems Inc. (NVLS), QLogic Corporation (QLGC), Sanmina-SCI Corporation (SANM), Synopsys, Inc. (SNPS), and Smurfit-Stone Container Corporation (SSCC). View all the upcoming Stock Index Changes on our Stock Index Calendar.
07:14
On The Wires
Trident Microsystems (TRID) announced that ViewSonic is using Trident's SVP EX ten-bit video processor that features the Digital Cinema Reality Engine to power its N3260W, N3760W, and N4060W LCD TVs for the European market... Clinical Data (CLDA) announces that NASDAQ has approved the co's application to move its exchange listing from the NASDAQ Capital Market to the NASDAQ National Market. The co's shares will begin trading today, Monday, Dec 19, 2005, on the NASDAQ National Market, and the co's trading symbol will continue to be CLDA... Honeywell (HON) announces it has reached an agreement with the board of directors of First Technology on the terms of a recommended all-cash Offer for the entire issued ordinary share capital of First Technology. The Offer will be made on the basis of 275 pence per First Technology ordinary share. The aggregate value of the Offer is $555 mln, fully diluted for the exercise of all outstanding options and including the assumption of approximately $189 mln of outstanding debt (as October 31, 2005)... Advanced Medical Optics (EYE) announces that a judge has upheld a May 2005 jury decision and awarded EYE $213.9 mln in damages resulting from willful infringement by Alcon Manufacturing, and Alcon Laboratories (ACL) of two AMO patents for phacoemulsification equipment used in cataract surgery... OpenTV (OPTV) announces a multi-year agreement with Vestel Group, one of Europe's largest consumer electronics and white goods manufacturers, for the deployment of OpenTV Core Middleware 1.1 to Vestel's next generation set-top boxes.
07:09
FLOW Flow signs multi-million dollar contract with Airbus UK
(7.00 )
Co announces it has been awarded a multi-million dollar contract to manufacture and install a multi- axis Composite Machining Center, abrasive waterjet and routing machine tool system for Airbus UK's use on the recently launched Airbus A350 program. Airbus UK's Filton plant will use the new Flow waterjet system to machine composite wing structures for the A350 when the system is delivered in around 12 months. Within Airbus, the UK is responsible for design and manufacture of the wings and fuel systems -- a role it will continue to play in the all-new Airbus A350 aircraft, of which approximately 60 percent will be comprised of advanced materials.
07:04
WMT Wal-Mart reaffirms December same store sales guidance of +2-4%
(49.27 )
07:03
AKN Akorn Signs letter of intent with Natco Pharma to develop and supply two oral tablet drug products
(4.44 )
Co announces it has signed a Letter of Intent with Natco Pharma, located in Hyderabad, India, to develop and supply two ANDA oral tablet drug products for cancer patients suffering from nausea and vomiting. The Letter of Intent anticipates executing a Definitive Agreement within ninety days upon Terms and Conditions agreeable to both the co and Natco. The two ANDA drug products will focus on the anti-emetic market, and have a current market size of approximately $800 mln. Natco will be responsible for the development and manufacturing of both drug products, while the co will be responsible for marketing and distribution in the hospital, clinic, and home healthcare markets in the United States and Canada.
07:02
UTHR United Thera announces positive clinical results
(71.09 )
Co announces that the preliminary results of its TRUST trial are positive. Specifically, intravenous Remodulin produced an 83-meter median improvement in six-minute walk distance compared to placebo after twelve weeks in patients with NYHA Class III/IV pulmonary arterial hypertension. Supporting and secondary endpoint analyses of the study results are ongoing. Co says "We are very pleased that this first-ever placebo controlled study of intravenous therapy in patients with pulmonary arterial hypertension overwhelmingly confirmed the efficacy of Remodulin."
07:01
PLD ProLogis to develop major distribution facility in China for Adidas
(46.25 )
07:01
European Markets
FTSE...5537.20...+5.60...+0.1%. DAX...5349.59...-4.07...-0.1%.
07:01
Asian Markets
Nikkei...15391.48...+218.41...+1.4%. Hang Seng...15182.89...+153.08...+1.0%.
07:01
SNAK Poore Brothers CEO, CFO leave company, cuts Q4 guidance
(3.23 )
Co announces that Thomas W. Freeze and co "have agreed to his separation as Director, President and CEO", CFO Richard M. Finkbeiner will also leave the company. Board names Chairman Eric J. Kufel as interim CEO. Co also reduces guidance, says it will report Q4 (Dec) loss vs $0.04 single analyst estimate, for Y05 says it will fall below its previously announced guidance of $0.08-0.10 vs $0.11 single analyst estimate. Co comments on reduced guidance, says it is "primarily due to severance payments associated with the above departures, and professional services fees related to the previously announced internal controls investigation by its audit committee".
07:01
FTEK Fuel-Tech announces two Fuel Chem demonstration orders for the co's proprietary Targeted In-Furnace Injection technology
(7.96 )
Co announced two FUEL CHEM demonstration orders for the co's proprietary Targeted In-Furnace Injection technology. The first demonstration is to take place on a 600 megawatt coal-fired utility boiler with a new customer located in the Southeastern U.S. The second demonstration, which is scheduled to start up before the end of the year, is to occur at a large industrial facility in the Southwestern U.S. Start-up on the utility anticipated by the middle of the first quarter of 2006.
07:01
EYE Advanced Medical Optics awarded $213.9 mln in infringement case against Alcon
(42.16 )
Co announced that a judge has upheld a May 2005 jury decision and awarded AMO $213.9 million in damages resulting from willful infringement by Alcon Manufacturing, Ltd. and Alcon Laboratories (ACL) of two AMO patents for phacoemulsification equipment used in cataract surgery. The judge granted AMO a permanent injunction, but that injunction has been stayed pending appeal. Once in effect, the injunction will prohibit Alcon from selling equipment with the features that infringed AMO's patents. The judge also required Alcon to post a $1.8 million bond on the injunction pending appeal.
07:00
NBIX Neurocrine Biosci announces positive phase II safety and efficacy results with Urocortin 2 for congestive heart failure
(62.30 )
Co announces positive safety and efficacy results from the co's Phase IIa clinical trial with two dose levels of urocortin 2 in patients with mild to moderate congestive heart failure. Results demonstrated a dose related increase in cardiac output of up to 40% with only a modest increase (6%) in heart rate. In addition 7 of 8 patients exhibited improvement in cardiac ejection fraction. Patients exhibited mild to moderate reductions in both diastolic and systolic blood pressure without adverse effect. Preliminary analysis showed a correlation between pharmacokinetic and pharmacodynamic parameters. The drug was safe and well tolerated. In addition, there were no serious adverse events reported.
06:35
More On The Wires
Terex (TEX) announces it has received an extension for continued listing and trading on the New York Stock Exchange for three months, through March 31, 2006, to complete and file its Annual Report on Form 10-K for the year ended Dec 31, 2004 with the S.E.C. The extension is subject to review by the NYSE on an ongoing basis... St. Mary Land & Exploration (SM) announces that Douglas W. York, Executive Vice-President and Chief Operating Officer, plans to leave the co during the first quarter of 2006. The co has commenced a search for his successor, and in order to facilitate a smooth transition, Mr. York will continue in his current role until a mutually suitable time in the first quarter of 2006... Offshore Logistics (OLG) announces the resignation of Mr. Brian Voegele as Senior Vice President and Chief Financial Officer. As announced on Nov 1, 2005, Mr. Voegele had previously notified the co of his intent to resign his positions with Offshore Logistics to become the Chief Financial Officer of another oilfield services co. Mr. William E. Chiles, President and CEO, was appointed by the Board of Directors to serve as the Chief Financial Officer until a successor is identified... Harrah's Entertainment (HET) announces it plans to re-open Harrah's New Orleans Casino on Feb 17, 2006. "We're looking forward to re-opening our doors. We'll be putting people back to work -- and once again helping draw hundreds of thousands of tourists to New Orleans,".
06:30
GTRC Guitar Center announces preliminary agreement to settle California wage and hour lawsuits
(50.77 )
Co announces it has reached a preliminary agreement to settle two purported class action lawsuits which alleged, among other things, that the Company improperly documented and enforced break-time and lunch-time periods for hourly retail store employees in the State of California. Under the terms of the proposed settlement, the co will make cash payments of up to $3.5 mln to fully resolve claims by eligible class members. As a result of the proposed settlement, the co estimates that it will record a pre-tax charge of $2.5 mln to $3.0 mln, equivalent to $0.05 to $0.06 cents per diluted share after-tax, in the fourth quarter of 2005. This charge is not included in Guitar Center's previous financial guidance.
06:29
S&P futures vs fair value: +3.4. Nasdaq futures vs fair value: +7.5.
06:29
European Markets
FTSE...5532.50...+0.90...+0.0%. DAX...5349.59...-4.07...-0.1%.
06:29
Asian Markets
Nikkei...15391.48...+218.41...+1.4%. Hang Seng...15182.89...+153.08...+1.0%.
06:25
On The Wires
Crucell N.V. (CRXL) announces that it has signed a non-exclusive STAR research license agreement for the production of monoclonal antibodies with Cambridge, Massachusetts-based Genzyme (GENZ). Financial details were not disclosed. Crucell also notes the announcement made by Berna Biotech AG yesterday of the request for due diligence information received from a third party, of which Berna had duly informed Crucell. Crucell would like to remind shareholders that Crucell's offer is the only offer that has been made, it is recommended by the board of Berna, and confirms that Crucell remains committed to the proposed transaction... Camtek (CAMT) announces it has applied for its shares to be traded on the Tel Aviv Stock Exchange. Trading of the co's shares on the T.A.S.E is expected to begin this Wednesday, December 21st. Listing on TASE will be in addition to the existing listing on the NASDAQ National Market where Camtek's shares trade under the symbol CAMT... Global ePoint (GEPT) announces it received a letter from the Nasdaq Stock Market on Dec 12, 2005 stating that the Nasdaq staff believed that Global ePoint did not comply with Marketplace Rule 4350(i)(1)(D), which requires shareholder approval for issuances of common stock or securities convertible into common stock if the amount of the issuance is equal to 20% or more of the common stock outstanding before the issuance, and is issued at a price less than the greater of market value or book value of the stock before the issuance.
06:17
THQI THQ Inc and Massive expanding boundaries of Dynamic, new advertising medium
(23.50 )
The co and Massive Incorporated today announced plans to bring THQ video game titles to Massive's video game advertising network. "Dynamic, in-game advertising not only offers publishers new revenue opportunities, but when done properly creates added realism that can actually enhance game play... We are excited to team with Massive because we believe their network strategy and sensitivity to game play will deliver value to publishers, advertisers and gamers. We look forward to exploring together what we see as a world of new possibilities for delivering advertising to the medium of interactive entertainment."
06:14
HON Honeywell to buy First Tech for 207 mln euros ($366 mln)
(37.88 )
Co says it had agreed to buy First Technology, the UK-based maker of crash test dummies, for 207m ($366 mln). The US group said it would offer 275p a share for First Technology, about 35% more than the stock's close on December 9, the last business day before the UK co said it received an approach.
06:05
EVOL Evolving Systems selected by Major US Carrier for local number portability solution
(2.14 )
Co announces another major US carrier has selected Evolving Systems' Local Number Portability solution. The customer, a major wireline carrier, chose the Order Path SOA and PortExchange ICP products. The co was selected as having the most cost effective and feature-rich solution of those evaluated in a competitive bid process. The solution is expected to go live in March 2006.
06:03
NSTC Ness Tech wins ten-year $8.5 mln outsourcing contract with Israel's Yellow pages
(10.67 )
Co announces it has won a ten-year outsourcing contract worth approx $8.5 mln with Israel's Yellow Pages. The contract represents one of the largest outsourcing projects in Israel. The project includes overall responsibility for Yellow Pages' IT infrastructure and support for the co's 500 users.
06:02
More On The Wires
ARM (ARMHY) announces that it will work with Phoenix Technologies to provide the full range of the ARM RealView CREATE family of Electronic System Level tools to the Israeli engineering community... Digimarc (DMRC) announces the execution of a patent license agreement with Thomson (TMS) in support of Thomson's efforts to offer digital watermarking solutions that help improve the management, distribution and protection of digital media content, including digital cinema.
03:24
OIIM O2Micro revises guidance for Q4
(10.00 )
Co announces a revision to its guidance for revenue for Q405, to end December 31, 2005. O2Micro now projects its Q4 revenues to be up 2% to 3% from Q3. This revision is a result of reduced ordering of LCD monitors. The Commercial Times, Taiwan, reported that Dell (DELL) alone had cancelled 600,000 units of LCD monitors in November and December, and has about 1.6 mln units in inventory, or double the regular inventory level of 800,000 units.
03:08
More On The Wires
On Track Innovations (OTIV) announces that they will provide smart card technology to Scheidt & Bachmann for their Massachusetts Bay Transportation Authority (MBTA) project... Celanese (CE) announces that it has sold the omega-3 DHA business of its performance products segment Nutrinova to Lonza Ltd., Switzerland; financial terms not disclosed.
03:00
On The Wires
Allergan (AGN) announces that it has filed a motion with the US District Court for the Northern District of CA, San Francisco Division, requesting a temporary restraining order and preliminary injunction prohibiting the sale of a proposed generic version of their non-steroidal anti-inflammatory drug ACULAR 0.5% while the court conducts further proceedings in a patent infringement lawsuit brought by AGN and Syntex LLC against Apotex, Inc., Apotex Corp., and Novex Pharma... Results from a new study demonstrated that a single day of treatment with the antiviral Famvir from Novartis (NVS) stopped the progression to a full outbreak or shortened the duration of an outbreak in patients with recurrent genital herpes... Elbit Systems (ESLT) reported that its subsidiary, Elbit Systems (ESLT) has been selected by the Korean Air Force to supply Real Time EO/IR Long Range Oblique Imagery Systems for the ROKAF's F-16 Aircraft. The signed contract, valued at approx $50 mln, is expected to become effective shortly, upon approval by the Korean Ministry of Defense.
02:47
TNOX Additional Phase II data supports further development of Tanox's HIV therapy
(15.70 )
Co presents further analysis of a Phase 2 study of its novel HIV antibody, TNX-355, in a late-breaking submission at the American Society for Microbiology's Interscience Conference on Antimicrobial Agents and Chemotherapy. The co, which recently released favorable Week 24 viral-reduction results for the drug candidate, had an abstract at the meeting. The presentation provided details on several endpoints of the study. In addition to meeting the primary endpoint of mean change in viral load from baseline with statistical significance, TNX-355, combined with an optimized background regimen, demonstrated considerable virologic benefit compared to OBR alone as measured by average area under the curve minus baseline.
17:00
Market Wrap
While upbeat corporate news, plunging oil prices and falling bond yields helped investors eye blue chip bargains midday following yesterday's stalemate session, late-day volatility on account of quarterly options expiration contributed to the market's inability to close in positive territory. More...
16:05
VNO Vornado Rlty Trust declares a $0.77 special dividend
(84.77 +0.18)
16:01
HOS Hornbeck Offshore reports extension of previously announced and formation of new 10b5-1 stock sales plans for executive officers
(33.88 -0.61)
Co announced today that Todd M. Hornbeck, Chairman, President and CEO of HOS, and certain related family trusts have entered into sales plans covering certain shares of common stock of the co owned by them. Under the terms of the 10b5-1 plans, Mr. Hornbeck proposes to sell 10,000 shares of HOS common stock and each of the three trusts proposes to sell 10,000 shares of HOS common stock, subject to certain minimum price criteria. Similarly, three other executive officers, Carl G. Annessa, James O. Harp, Jr. and Samuel A. Giberga, have also entered into or extended existing 10b5-1 sales plans to sell 10,000, 10,000 and 6,666 shares purchasable under certain outstanding options that they hold, respectively.
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