October 13, 2011 Market SnapShot

Market Update

3:40 pm : It was a busy morning in the energy sector, with both natural gas and crude oil inventory data.  Crude oil futures, which ended lower by 1.6% at $84.23, saw a rather muted reaction to the inline inventory data. Futures did spike back toward the flat line in afternoon trade, but after failing to take out overnight highs, they pulled back to below the $85 mark. Natural gas, which posted gains of 1.2% to finish at $3.53, spiked sharply lower following inventory data. Futures put in lows at $3.45, their lowest levels in just over 1 yr. Futures managed to bounce off those lows to end with modest gains.

It was another quiet session for the precious metals after their initial move lower in overnight trade. Gold ended lower by 0.8% at $1668.50 per ounce, while silver shed 3% to close at $31.66 per ounce. Neither metal saw much of reaction to news that Slovakia passed its vote on expanded EFSF fund.DJ30 -68.64 NASDAQ +8.21 SP500 -1.08 NASDAQ Adv/Vol/Dec 1087/1.4 bln/1417 NYSE Adv/Vol/Dec 1031/660.0 mln/1987

3:00 pm : Stocks have resumed their upward push. The effort has made for fresh session highs among all three major equity averages. Although neither the Dow nor the S&P 500 is in positive territory just yet, the Nasdaq is sporting an enviable gain.

The stock market's push comes as participants prepare for the close, which is only an hour away. Share volume hasn't exactly been robust up to this point -- barely a half billion shares have been traded on the NYSE thus far. Share volume is typically considered tantamount to conviction among traders. DJ30 -18.39 NASDAQ +16.02 SP500 -1.64 NASDAQ Adv/Vol/Dec 905/1.15 bln/1555 NYSE Adv/Vol/Dec 910/520 mln/2070

2:30 pm : Unable to extend their recent upturn, stocks are chopping along session highs. Should the stock market fail to find positive territory, it will suffer only its second loss in eight sessions. Heading into today's action, the S&P 500 had advanced in six of seven sessions for a cumulative gain of almost 10%.DJ30 -68.87 NASDAQ +1.09 SP500 -8.76 NASDAQ Adv/Vol/Dec 880/1.05 bln/1590 NYSE Adv/Vol/Dec 830/475 mln/2115 

2:00 pm : Stocks have been battling back for the past 30 minutes. The effort has cut the broad market's loss in half and put the Nasdaq in positive territory. The major indices now sit at session highs.

Tech continues to be a lone leader today, whereas financials continue to drag on broad market trade. Financials, off of their lows, are still down almost 3%.

The dollar has surrendered most of its gain in recent trade. As such, it is now up less than 0.1% against a basket of major foreign currencies. Most of the dollar's downturn is due to a bounce by the euro and sterling pound. DJ30 -50.18 NASDAQ +2.98 SP500 -6.65 NASDAQ Adv/Vol/Dec 880/960 mln/1570 NYSE Adv/Vol/Dec 805/435 mln/2120

1:30 pm : Treasuries haven't moved much in the wake of an auction of 30-year Bonds. The auction drew a bid-to-cover of 2.94, dollar demand of $38.2 billion, and an indirect bidder participation rate of 28.7%. For comparison, the priorauciton drew a bid-to-cover of 2.85, dollar demand of $37.1 billion, and an indirect bidder rate of 39.4%. An average of the past six auctions results in a bid-to-cover of 2.60, dollar demand of $36.1 billion, and an indirect bidder rate of 34.7%.DJ30 -61.91 NASDAQ +3.74 SP500 -6.50 NASDAQ Adv/Vol/Dec 740/855 mln/1675 NYSE Adv/Vol/Dec 580/395 mln/2350

1:00 pm : The broad equity market has been under pressure all session. Financials have been a particularly heavy drag.

Stocks ended the prior session in weak fashion after failing to overcome some technical resistance, but they still scored their sixth gain in seven trading days. During that time the stock market ascended almost 10%. Such a strong move in such short time has prompted some to take pause, and profits too, leaving stocks to slide. Of course, a weak performance by Europe's major bourses in the most recent round of trade hasn't exactly bolstered additional buying interest among market participants.

Financials have been in focus since the start of the session. Down in excess of 3%, the sector's weakness has weighed heavily on the rest of the market. Bank stocks have been beaten down quite aggressively in the wake of the latest quarterly report from JPMorgan Chase (JPM 31.23, -1.97). The diversified financial services outfit posted a better-than-expected bottom line, but the quality of that beat has been called into question. Given that JPM is widely regarded as one of the most fundamentally sound and well run banks, investors are cautious about what its peers may be about to report.

In contrast, tech stocks have displayed with relative strength. The sector successfully limited losses this morning and has since made its way to a modest gain of about 0.4% -- it is still the only major sector that has managed to find higher ground. Google (GOOG 551.99, +3.49) has been a source of support ahead of its quarterly report this evening, but Akamai Tech (AKAM 24.50, +1.13) has been a top performer amid takeover rumors, which have been refuted by various reports.

Data today didn't really contain any surprises. Weekly initial jobless claims remained just above 400,000, as had been expected. Meanwhile, the latest trade deficit totaled $45.6 billion. It had been expected to total $46.1 billion. The latest Treasury Budget will be posted at 2:00 PM ET.

Due at any moment are results from an auction of 30-year treasury Bonds. Treasuries have been bid higher today in response to the equity market's overall weakness. Buying has the yield on the benchmark 10-year Note at 2.15%. The yield on the 30-year Bond is almost 100 basis points greater than that. DJ30 -95.13 NASDAQ -4.80 SP500 -11.71 NASDAQ Adv/Vol/Dec 670/785 mln/1720 NYSE Adv/Vol/Dec 500/365 mln/2415

12:30 pm : The Nasdaq has failed to build the base for a bounce at the neutral line. Instead, the tech-rich Index has fallen back into negative territory. Nonetheless, its loss remains only a fraction of what the broad market has thus far suffered.

Amid weakness in the stock market, Treasuries have ticked higher. The benchmark 10-year Note is currently up about a half of a point. Action among Treasuries could pick up with the release of results from an auction of 30-year Bonds at the top of the hour. DJ30 -113.30 NASDAQ -5.79 SP500 -13.38 NASDAQ Adv/Vol/Dec 725/720 mln/1645 NYSE Adv/Vol/Dec 575/340 mln/2320

12:00 pm : The Nasdaq has made its way to the neutral line with help from tech stocks, which are collectively up 0.4%. No other sector has managed to find higher ground.

Strength within the tech sector is relatively broad. As a result, Intel (INTC 23.27, +0.15), IBM (IBM 186.90, +0.78), Texas Instruments (TXN 30.32, +0.62), Google (GOOG 555.15, +6.65), and Apple (AAPL 407.08, +4.89) are all up with enviable gains. DJ30 -88.41 NASDAQ -0.45 SP500 -10.59

11:30 am : The stock market remains mired near its session low, but Google (GOOG 552.37, +3.87) has managed to put together a nice gain ahead of its quarterly report this evening. Its strength has managed to help support the Nasdaq, which is down less than half of what either the S&P 500 or the Dow has suffered this session.DJ30 -108.00 NASDAQ -9.03 SP500 -13.83 NASDAQ Adv/Vol/Dec 670/525 mln/1640 NYSE Adv/Vol/Dec 445/255 mln/2440

11:00 am : After some choppy action, stocks have started to slide deeper into negative territory. The stock market's loss has now fully offset yesterday's advance.

Financials continue to take the heaviest toll on trade. The sector is now down 3.4%. Banks are weighing heavily on the financial space. Their weakness has the KBW Bank Index down 4.2% today. The KBW's drop has come amid relatively strong share volume. DJ30 -123.48 NASDAQ -12.85 SP500 -14.96 NASDAQ Adv/Vol/Dec 650/400 mln/1600 NYSE Adv/Vol/Dec 425/200 mln/2415

10:35 am : The dollar index is near its current session high of 77.43, which has pressured the commodity space this morning.

Crude oil futures have been in the red all morning and hit a new session low of $83.17/barrel about 40 minutes ago. Currently, crude is at 83.79/barrel, down 2.1% At 11:00am EST, weekly inventory is scheduled to be released (Consensus is calling for a build of 0.8 million barrels)

Natural gas futures picked up steam a couple of hours ago, moving into positive territory. The energy component rose to a new session high of $3.52/MMBtu ahead of inventory data. Following the data, which showed a build of 112 bcf versus the consensus that called for a build of 100 bcf, nat gas pulled back into negative territory; now at $3.47, down 0.6%.

Precious metals have been in the red all morning and put in new session lows in recent activity (Gold $1654.30, Silver $31.49). In current trade, gold is down 1.3% at $1661.60/oz. and silver is down 3.2% at $31.75/oz.DJ30 -85.14 NASDAQ -3.38 SP500 -10.18 NASDAQ Adv/Vol/Dec 695 /361 mln/1540 NYSE Adv/Vol/Dec 466/185 mln/2382

10:00 am : Financials have extended their early slide so that the sector now trades with a 2.9% loss. JPMorgan Chase (JPM 31.55, -1.54) has been a heavy drag on the space; the stock is down 5% even though its latest quarterly earnings exceeded what Wall Street had expected. The company is just beginning its conference call.

Tech continues to hold up well. The sector's 0.2% loss comes as the rest of the market slides to a morning low that has left it to contend with a cumulative loss of more than 1%. Even though tech is the largest sector by market weight and is in the best shape of any major sector, the broad market is refusing to follow its lead. DJ30 -109.29 NASDAQ -11.60 SP500 -12.26 NASDAQ Adv/Vol/Dec 515/98 mln/1525 NYSE Adv/Vol/Dec 425/70 mln/2265

09:45 am : The broad market has slid off of the open to a marked loss. Although early losses are broad, the stock market's descent has been primarily driven by weakness in the financial sector, which has already dropped to a 2.3% loss. The sector's slide hasn't quite completely dashed its 2.7% advance in the prior session.

Tech stocks have done a relatively good job of limiting losses this morning. More specifically, the sector is down only 0.2%. That has helped keep the Nasdaq from falling as sharply as its counterparts. Akamai Tech (AKAM 24.29, +0.92) is a top performer among Nasdaq-listed tech plays, thanks to speculation about a potential takeover. Various reports have refuted such speculation, though. DJ30 -88.13 NASDAQ -8.93 SP500 -11.30 NASDAQ Adv/Vol/Dec NA/NA/NA NYSE Adv/Vol/Dec NA/NA/NA

09:15 am : S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -5.00. Stock futures are up from their morning lows, but they still point to a mixed to modestly lower start to the session. The action reflects that of Europe, where the major bourses have attempted to trim losses in recent trade. Dampened sentiment there has also put pressure on the euro, which is down 0.4% to $1.373 after it set a near one-month high in the prior session. Early participants have shrugged off better-than-expected earnings results from diversified financial services giant JPMorgan Chase (JPM) after the stock set a three-week high yesterday. Data has also failed to excite. Weekly initial jobless claims held steady narrowly above 400,000, as had been expected. The latest trade deficit totaled $45.6 billion, which is about $500 million below what had been broadly expected. The latest Treasury Budget will be posted at 2:00 PM ET. Before that, though, market participants get their hands on results from an auction of 30-year treasury Bonds at 1:00 PM ET.

09:05 am : S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -4.50. Stock futures have ticked a few points higher as buyers in Europe begin to battle back a bit, offsetting some of the losses recently suffered by the region's major bourses. As such, Germany's DAX has cut its loss to 1.0%. Commerzbank and Deutsche Bank (DB) are weighing heavily on trade. Advancing issues are limited. Deutsche Post and Infineon Tech are among the few that have managed to muster gains. Germany's final CPI reading for September showed a 2.6% increase, unchanged from the preliminary reading. France's CAC is now down 0.9%. BNP Paribas, Axa (AXA), and Societe Generale are leading losses. Alcatel-Lucent (ALU) shares are up nicely, though; the stock's strength comes in response to reports that the company plans to sell its call unit. Britain's FTSE is presently grappling with a 0.9% loss. Man Group Plc, Anglo American Plc, Barclays (BCS), and Lloyds Group (LYG) are among the heaviest drags on trade, but Rolls-Royce Holdings is trading sharply higher in the face of broad market weakness. The Visible Trade Deficit for the United Kingdom totaled 7.77 billion pounds in August. That's less than the downwardly revised 8.80 billion pound deficit posted for the prior month.

Overnight action took Japan's Nikkei 1.0% higher to its best closing level in a month. Yaskawa Electric and Furukawa Electric were the top performers; both advanced almost 8%. Fast Retailing and Nikon were both unable to participate in the relatively broad bounce. Hong Kong's Hang Seng swung to a 2.3% gain. Property plays and developers outperformed. Their heady gains came amid the belief that policies would not be implemented to further stabilize property prices. Esprit Holdings also staged an impressive performance as it rallied back from the sharp slide that it had suffered in the prior session. Mainland China's Shanghai Composite closed 0.8% for the better. Metals and mining plays provided leadership. China's latest economic release featured a $4.51 billion September trade balance, down from $7.76 billion balance for the same period one year ago. The country's third quarter Business Climate Index slipped to 133.4 from 135.6 for the previous quarter.

08:35 am : S&P futures vs fair value: -9.10. Nasdaq futures vs fair value: -7.00. There haven't been any real surprises in the latest round of economic reports, so stock futures are little changed from earlier levels. Initial jobless claims for the week ended October 8 totaled 404,000, which is on par with the 406,000 initial claims that had been broadly expected. Claims for the prior week were revised slightly higher to 405,000, resulting in little change week over week. The trade deficit for August came in at $45.6 billion, which is slightly less than the $46.1 billion deficit that had been generally anticipated among economists polled by Briefing.com.

08:05 am : S&P futures vs fair value: -10.90. Nasdaq futures vs fair value: -11.00. Stocks finished the prior session in weak fashion, but the broad market still scored its sixth gain in seven trading days. Selling pressure, although moderate, has extended into this morning's trade as participants continue to take their cues from Europe's major bourses, which have pulled back in their most recent round of action. An upside earnings surprise from JPMorgan Chase (JPM) has done little to offer support ahead of the open. Shares of the diversified financial services giant are down in excess of 1% ahead of the open. Their slide comes after the stock set a three-week high yesterday. Monthly international trade data and the latest weekly tally of initial jobless claims are due at the bottom of the hour. The monthly Treasury Budget will be released at 2:00 PM ET. Also on the docket, weekly natural gas inventories are due at 10:30 AM ET, followed by weekly oil inventories at 11:00 AM ET. Results from an auction of 30-year Bonds will be released at 1:00 PM ET. Google (GOOG) will report its latest quarterly results after the close.

06:50 am : [BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -7.30.

06:50 am : Nikkei...8823.25...+84.40...+1.00%. Hang Seng...18757.81...+428.40...+2.30%.

06:50 am : FTSE...5392.21...-49.60...-0.90%. DAX...5912.28...-82.20...-1.40%.

In Play 

3:56PM Earnings Calendar (SUMRX) : Today after the close GOOG and JBHT are scheduled to report.

Tomorrow before the open MAT and WBS are scheduled to report.

3:44PM Amazon.com displays some relative weakness nearing the close as it makes a modest move to session low territory above yesterday's low of $243.33 (AMZN) 235.90 -0.95 :  

3:25PM Dow -51 and S&P -4.9 pull back after extending bounce to flat line (SPY) :  

3:17PM CBOT Agriculture, Ethanol and Sugar Closing Prices (COMDX) : Corn settled lower by 4 cents to $6.38, wheat fell 8 cents to end at $6.18, soybeans were 14 cents higher at $12.54, ethanol rose 1 cent to close at $2.55, while sugar fell 0.29% to $0.27.

3:17PM Bassett Furniture declares quarterly dividend of $0.035/share, up from $0.030/share (BSET) 7.70 +0.15 :  

3:15PM Teva Pharma and Cephalon (CEPH) receive European Commission approval for acquisition (TEVA) 39.02 -0.01 : In connection with this approval, Teva is required to divest Cephalon's marketing authorization of generic modafinil in France and grant to the purchaser of this marketing authorization certain additional rights with respect to the entire European Economic Area, including a covenant not to sue effective as of October 2012. With this approval, the parties have now obtained all regulatory approvals required to close the transaction and, accordingly, have scheduled a closing date of October 14, 2011.

3:13PM IMAX Signs joint revenue sharing agreement in Malaysia (IMAX) 17.38 +0.07 : Co announced a joint revenue sharing agreement with TGV Cinemas Sdn Bhd to install a new digital IMAX theatre system at the Sunway Pyramid Shopping Centre, TGV's highest-grossing multiplex.

2:59PM Dow -33 and S&P -3.1 reach 50% retracement of Wed-early Thur slide at 11501/1205 (SPY) :  

2:50PM Stock indices jump to new afternoon bounce highs -- Dow -26, S&P -2.7, Nasdaq Comp +11 (SPY) : Sectors that have provided leadership on a relative basis in recent action include Energy/Commodity (XLE, OIH, KOL, SLX, GDX, SLV, XLB, MOO).

2:34PM NYMEX Energy Closing Prices (COMDX) : Crude oil settled lower by $1.34 at $84.23, natural gas gained 4 cents to close at $3.53, heating oil ended up 4 cents at $2.97, while RBOB gasoline finished higher by a penny at $2.76 (all Nov contracts).

2:31PM General Electric: PRE Resources, GE unit, partner to buy Rocky Mountain oil and gas reserves (GE) 16.16 -0.24 : PRE Resources, is teaming up with GE Energy Financial Services to buy more than 100 producing wells and undeveloped acreage across 29 fields in Wyoming and Colorado. GE Energy Financial Services provided $46 million and committed to additional capital expenditures to form a partnership with Denver-based PRE Resources to buy the fields. The seller was undisclosed. PRE Resources is investing $5 mln in the acquisition.

1:33PM Relative Sector Strength (TECHX) : Sectors that have outperformed the S&P on the rebound extension include: Airline, Housing XHB, Bank KBE, Reg Bank KRE, Energy XLE, Oil Service OIH, Silver SLV, Gold GLD, Casino.

1:32PM Crude spikes back toward flat line; now off 78 cents to $84.78 (COMDX) :  

1:31PM COMEX Metals Closing Prices (COMDX) : Gold shed $14 to finish at $1668.40, silver ended off 99 cents at $31.80, while copper gained a penny to close at $3.32 (all Dec contracts).

1:23PM Royale Energy announces a new natural gas discovery in the Sacramento Basin (ROYL) 2.18 +0.04 : Pacific 1-3 was drilled to a total depth of 7,150 ft. and wireline logs have been run. The well intersected natural gas filled sands in each of the targeted upper, middle, and lower Mokulumne sands. Andrus Island well is now producing 250,000 cubic ft. per day from a shallower formation in the well.

1:20PM New rebound highs for stock indices -- Dow -71, S&P -8.9, Nasdaq Comp -0.8 (SPY) : Noted potential for bounce in the 11:24 update and another leg higher in the 12:45 update. From here watching 1196/1195 which needs to hold for upside from here. The action off the morning low is, however, currently considered a temp correction.

1:19PM Pressure BioSciences awarded $649,000 grant from the Department of Defense (PBIO) 0.79 +0.00 : Co announced that it has been awarded a $649,498 SBIR Phase II grant from the U.S. DOD. Entitled "Development of a Universal Method for Diagnostic Sample Inactivation, Extraction, and Enrichment of Pathogens in Arthropod Hosts of Military Importance", this grant will help fund the development of an automated, high-throughput, high pressure system for the safe and accurate processing of pathogenic organisms.

12:45PM Stock indices slip back off late morning bounce highs in recent action -- S&P -13, Nasdaq Comp -7.2, Dow +114 (SPY) : Noted in 11:24 update that there was potential for a corrective bounce as the S&P and Nasdaq Comp held at supports. A minor upside extension was seen into late morning with the indices pulling back thereafter. A continued posture above the early low (higher low) and a sustained breach of 1195 would keep the door open to another intraday leg higher.

12:02PM Microsoft and Quanta Computer sign patent agreement covering android and chrome-based devices (MSFT) 27.02 +0.07 : Cos have signed a patent agreement that provides broad coverage under Microsoft's patent portfolio for Quanta's tablets, smartphones and other consumer devices running the Android or Chrome Platform. Although the contents of the agreement have not been disclosed, the parties indicate that Microsoft will receive royalties from Quanta under the agreement.

12:02PM Fluor has committed to making an investment exceeding $30 mln in NuScale Power (FLR) 54.06 -0.97 : Co has committed to making an investment exceeding $30 mln in NuScale Power, an Oregon-based small modular reactor technology company. As part of its investment, Fluor has purchased the co's shares that had previously been in SEC receivership and has become NuScale's majority shareholder. Going forward, NuScale will continue to operate as an independent company. Additionally, Fluor and NuScale have entered into a separate contractual arrangement whereby Fluor will provide certain services to NuScale as well as have exclusive rights to provide engineering and construction services for future NuScale SMR facilities.

12:01PM Applied Energetics and Laser Light Technologies entered into a Cooperative Work Agreement (AERG) 0.20 +0.00 : Under terms of the agreement Applied Energetics will provide an ultrashort pulse laser to Laser Light Technologies for the purpose of developing processes and methods for conducting micromachining of a wide variety of materials. Laser Light Technologies will provide Applied Energetics expertise on micromachining of materials at Applied Energetics' Laser Applications Center, and also provide feedback on the optimization of processes for use in the development of future USP laser systems. Additionally, Laser Light Technologies will be able to sell Applied Energetics' USP lasers to their customers on a commission basis.

12:00PM TCF Financial announces definitive agreement to acquire Gateway One Lending & Finance; financial terms not disclosed (TCB) 10.15 -0.53 : Co announced that its wholly-owned subsidiary, TCF National Bank, has signed a definitive agreement to acquire Gateway One Lending & Finance. As of September 30, 2011, the company had originated $214 mln in auto loans year-to-date and had a managed portfolio of $406 mln. As part of the acquisition, TCF will be retaining Gateway One's seasoned executive management team. The transaction is expected to close before the end of 2011, subject to customary closing conditions.
11:56AM Wi-LAN announced the Ontario Securities Commission has granted WiLAN's request to cease trade the MOSAID Technologies shareholder rights plan (WILN) 6.03 -0.24 : The cease trade order of MOSAID's Poison Pill is effective on November 1, 2011 at 9:00 a.m. ET. MOSAID had requested in its submissions that either WiLAN's application be dismissed or that the Poison Pill remain in place until November 11, 2011. The OSC declined to grant either of these requests from MOSAID in its order. Accordingly, WiLAN will extend its C$38 per share all-cash bid for MOSAID shares until 5:00 p.m. ET on November 1, 2011.
11:46AM Medco Health Solutions and Quest Diagnostics (DGX) personalized medicine study yields additional clues about patient engagement; Top-line results of the AKROBATS trial reveal greater adherence to statins for patients undergoing genetic testing (MHS) 48.81 -0.39 : Belief in the utility of genetic testing (53.8 %), altruism (17.4 %) and general interest (15.0 %) drove trial participation from 682 patients, according to the study. Of the 773 patients who declined to participate, 43.1 % declined to state a reason or were generally not interested. The lack of a perceived benefit (19.7 %) and a lack of time (18.4 %) were other factors of why some opted not to participate. Privacy concerns (6.7 %) and anxiety about the results of the test (8.8 %) were not significant factors in the decision to decline study participation. Participants in the study tended to be younger than those who declined (60 vs. 64) years of age. Planning for the study began in 2009 with enrollment starting in 2010. Full data results are expected to be published or presented at an upcoming scientific congress by spring 2012.
11:24AM New low for S&P -14, Nasdaq Comp -11.3 but still holding near supports (SPY) : Highlighted the 2590/2585 zone for the Nasdaq Comp earlier/Technical Take (session low 2588) with a limited bounce noted.  Support for the S&P mentioned previously at 1191/1189 has also held thus far (session low 1190.58).  Need set-up but potentially looking at/near end of slide off yesterday's high which would allow for at least of correction of this wave.
11:23AM Biogen Idec displays some relative strength as it lifts to fresh morning highs up into its recent month-long range high of $101.00-102.00 (BIIB) 101.35 +2.59 :
11:17AM Apricus Biosciences announces new data published in the International Journal of Pharmaceutics confirming efficiency of NexACT Drug delivery technology (APRI) 3.97 -0.01 : In the article, the effects of iontophoresis, the use of a local electric current to introduce the ions of a drug into the tissues, and a number of chemical enhancers such as the Company's NexACT technology on the transbuccal and transdermal delivery of three drugs LHCI, NHT and DHCI was evaluated on porcine skin and buccal tissues in vitro. Specifically, the article highlights the ability of the NexACT technology to act as an effective enhancer for the transbuccal delivery of two drugs, LHCI and NHT, and the transdermal delivery of DHCI. The combination of iontophoresis and the NexACT technology provided the best overall results for all three drugs and, as a result, this combined technology may provide new and more effective treatment approaches upon future research into this area.
11:01AM Crude oil ticks higher following inventory data; now off $1.90 to $83.67 (USO) : 
10:57AM Relative weakness in Casino/Gaming in recent trade -- WYNN, LVS, MCRI, PNK, BYD, IGT, PENN, ISLE, MGM (TECHX) :  

10:54AM Netflix: CBS Corporation and Warner Bros. Television Group announced today a licensing agreement with Netflix (NFLX) 118.22 +4.60 : CBS Corporation and Warner Bros. Television Group announced today a licensing agreement with Netflix [Nasdaq: NFLX] allowing U.S. members of Netflix to instantly watch previous seasons of scripted series that air on The CW from its current schedule through the 2014-15 season. As part of this four-year output deal, Netflix has licensed the rights to stream more than 700 hours of previous-season episodes of The CW's young-skewing dramas as well as future programs. These rights extend for four years after each series, current or future, ends its broadcast run on the network. The CW content can also be made available via traditional syndication windows, electronic sell-through services and, on a partial-season basis, through authenticated cable providers.

10:54AM Eaton Vance reported assets under management of $177.8 billion; this compares to $199.0 bln on July 31, 2011 (EV) 23.41 -0.43 :  

10:46AM S&P -13 off low but not seeing strong intraday price action thus far (SPY) : The index held above the 1191/1189 support zone (congestion/50 day ema) this morning (session low 1192) and bounced but need to see sustained gains initially through 1200/1201 to begin to improve the tone.

10:36AM Continued relative sector strength in Semi SMH, along with Disk Drive, Computer-Hardware (TECHX) :  

10:33AM Limited follow through and bounce attempt -- Nasdaq Comp -2, S&P -9 (SPY) : The Nasdaq Comp has tested support noted in The Technical Take at 2590/2585 (session low 2590) with the S&P holding just above its support at 1191/1189 (session low 1192) with some upticks noted over the last 15 min.

10:32AM Sears Hldg confirms rollout of Apple (AAPL) iPads and Apple iPod Touch devices starting with ~450 stores (SHLD) 70.44 +0.33 : Co says wireless devices and free wi-fi will soon be available for in-store shoppers.

10:30AM Natural gas ticks lower following inventory data; now off a penny at $3.48 (UNG) :  

10:23AM Benchmark Elec temporarily closes Thailand facility due to flooding (BHE) 14.66 -0.24 : Co announced today that its subsidiary, Benchmark Electronics (Thailand) Public Company Limited, has temporarily suspended operations as a result of flooding in the surrounding areas of the Hi-Tech Industrial Estate in Ayudhaya, Thailand. The industrial park is without power and officials have ordered an evacuation of the area. Benchmark has moved equipment and inventory to higher ground and, as of today, its facility has not been flooded, however the dike surrounding the Hi-Tech Industrial Estate has been compromised. While the full impact and extent of damage is unknown at this time, Benchmark has insurance coverage for any flood/water damage to its facility and additionally carries business interruption coverage. The company will remain focused on restoring operations to full production levels as quickly as conditions permit.

10:09AM Netease.com higher for eighth day in a row but dropped as much as 3% off session high after testing its 200 sma (NTES) 43.84 +0.15 :  

10:03AM SMTC Corp announces that their San Jose, CA, manufacturing facility has received ITAR registration (SMTX) 1.45 -0.02 : ITAR compliance is a key element of SMTC's strategic program to support military and defense customers.

10:02AM Digital River extends Global E-commerce agreement with Nuance Communications (NUAN); financial terms not disclosed (DRIV) 21.20 -0.17 : Co announced a five-year extension to its global e-commerce agreement with Nuance Communications (NUAN). Based on the agreement, Digital River will continue to operate 16 locales for the Nuance Store as well as provide professionally-managed e-marketing programs through its marketForce marketing agency.

10:02AM KV Pharm comments on ACOG and SMFM information update regarding hydroxyprogesterone caproate; FDA-approved Makena and Compounded 17P (KVA) 1.30 : Co appreciates the decision of the ACOG and SMFM to issue an information update and ensure that healthcare providers, patients, and the payer community have the facts regarding FDA-approved Makena. The information update from ACOG and SMFM confirms that FDA-approved Makena and unapproved compounded 17P formulations are not identical. The update also emphasizes the importance of honoring the clinical decisions of healthcare professionals, and makes clear that previous ACOG and SMFM statements should not be used by payers to deny coverage for Makena.

10:01AM Honeywell selected by Yantai Wanhua Polyurethanes to provide technology to produce key petrochemicals to meet growing demand in China (HON) 47.66 -0.84 : The facility will use UOP C3 Oleflex process technology to produce 750,000 metric tons of propylene from propane annually and the UOP Butamer process to produce 565,000 metric tons of isobutane annually.

9:59AM Minor new session lows in recent trade -- Dow -103, S&P -12, Nasdaq Comp -10 (SPY) :  

9:55AM New highs in dollar pushes gold, silver futures to fresh lows (COMDX) :

• Gold now off $25.20 to $1657.40.
• Silver lower by $1.25 at $31.54.

9:53AM Keryx Biopharma: Phase 1 / 2 clinical trial results of KRX-0401 plus bortezomib and Dexamethasone in patients with relapsed/refractory multiple myeloma published in the Journal of Clinical Oncology (KERX) 3.03 -0.096 : Co announced earlier that a manuscript entitled 'Perifosine Plus Bortezomib and Dexamethasone in Relapsed/Refractory Multiple Myeloma Patients Previously Treated with Bortezomib: Results of a Multicenter Phase l/2 Trial" reporting Phase 1 / 2 combination activity of KRX-0401 (perifosine) in the treatment of advanced multiple myeloma patients, was selected for publication in the October 11, 2011 online edition of the Journal of Clinical Oncology. In this Phase 1 / 2 study, perifosine in combination with bortezomib +/- dexamethasone was evaluated in 84 heavily pre-treated patients with relapsed or relapsed/refractory MM. All patients were required to receive prior bortezomib and most were bortezomib refractory. The combination demonstrated an overall response rate including MR or > of 41% in all evaluable patients, with stable disease observed in an additional 41% of evaluable patients. The ORR was 65% for bortezomib-relapsed patients and 32% for patients with bortezomib-refractory disease. Median progression-free survival was 6.4 months, with a median PFS of 8.8 months in the bortezomib-relapsed population. Median overall survival was 25 months. KRX-0401 is in-licensed by Keryx from Aeterna Zentaris (AEZS) in the United States, Canada and Mexico.

9:48AM Housing XHB, Retail XRT join Semi SMH in positive territory (TECHX) :  

9:46AM First Midwest Banc will purchase suburban Chicago deposits of Old National Bank (ONB) (FMBI) 8.45 -0.29 : The co announced that it will purchase the suburban Chicago deposits of Old National Bank, who had recently acquired these deposits as a part of their FDIC assisted purchase of Integra Bank. First Midwest has entered into a purchase agreement with Old National Bank whereby it will acquire all of the deposits currently serviced through branch locations in Bridgeview, Mokena, and Plainfield, Illinois. As a part of the transaction, First Midwest has also agreed to purchase only the existing facility at 2320 S. Rt. 59, Plainfield, Illinois. No loans will be acquired pursuant to the transaction. This transaction involves ~$185 mln in deposits, 50% of which represented core transactional deposits as of June 30, 2011. The transaction is expected to close in early December 2011 subject to regulatory approval, with final purchase terms dependent upon deposits existent as of the closing date.

9:44AM Semiconductor Hldrs ETF displays relative strength, rebounds back into positive territory (SMH) 29.71 +0.04 :  

9:42AM Stock indices extend opening pullback -- Dow -87, S&P -11, Nasdaq Comp -10 (SPY) : Relative sector weakness (underperforming the S&P) noted in Finance XLF, Reg Bank KRE, Bank KBE, Oil Service OIH, Energy XLE, Materials XLB, Copper JJC, Silver SLV, Gold Miners GDX.

9:31AM Crude to lows at $83.56; now off $1.93 at $83.61 (COMDX) :  

9:30AM PharmAthene submits legal brief in response to SIGA Technologies (SIGA) motion for reargument (PIP) 1.58 +0.02 : Co announced that it has filed its legal brief in response to SIGA Technologies' (SIGA) motion for reargument. On September 22, 2011 PharmAthene announced that the Delaware Court of Chancery had issued a ruling in its litigation against SIGA and awarded PharmAthene 50% of the net profits over 10 years from all sales of ST-246 and related products after SIGA receives the first $40 million in net profits. In addition, pursuant to an opinion issued September 22, 2011 from the Delaware Court of Chancery, PharmAthene is entitled to 50% of the profits over 10 years from all sales of SIGA's ST-246 once SIGA earns $40 mln in net profits from sales of ST-246.

9:24AM Rosetta Stone announces CEO transition plan (RST) : Co announced that Tom Adams has proposed, and the Board of Directors has accepted, a plan to transition from his position as President and Chief Executive Officer of Rosetta Stone to Chairman of the Board of Directors, upon identifying a suitable successor. Tom Adams plans to remain in his position until a new CEO is named, at which time the Board of Directors plans to elect Adams as non-executive Chairman.

9:23AM On The Wires (WIRES) :

• Discover Financial Services's (DFS) Pulse has signed a long-term, point-of-sale and ATM acceptance agreement with NETS.
• Kaman Aerospace Group, a unit of Kaman (KAMN) announced that its Aerostructures Division's new facility in Chihuahua, Mexico has received a certificate of registration to the AS9100B Aerospace Standard.
• Telik (TELK) announced the initiation of a Phase 2b clinical trial to evaluate Telintra treatment of patients with Low to Intermediate-1 IPSS Risk, transfusion dependent, non-deletion myelodysplastic syndrome, who have not been treated with hypomethylating agents such as Vidaza or Dacogen.
• ITT Corporation (ITT) announced it has signed an agreement to acquire Blakers Pump Engineers, a long-time distributor of ITT's Goulds Pumps brand in Australia. Terms not disclosed.
• ICG Commerce (ICGE) announced that Kimberly-Clark (KMB) has extended its long-standing partnership agreement with ICG Commerce.
• Lizhan Environmental (LZEN) receives Nasdaq notification of non-compliance with minimum bid price rule and failure to maintain the minimum market value of publicly held shares.

9:23AM Lions Gate Entertainment announces pricing of secondary public offering by certain selling shareholders at $7.00/share (LGF) 7.10 : Upon completion of the offering, the investment funds affiliated with Carl Icahn will own ~3.1% of the common shares.

9:22AM ULURU announces Altrazeal agreement for the European market (ULU) 0.32 : Co announced that it has signed a binding letter of intent with Melmed Holdings AG, a company based in Switzerland, to license Altrazeal for the European Union. Under the terms of the agreement ULURU will license the European Union rights to a subsidiary of Melmed Holdings AG specifically formed to market Altrazeal in the European Union. In exchange for the license ULURU will receive a licensing payment and a 25% interest in the Altrazeal marketing subsidiary that have a combined value of ~$2.5 mln. In addition, ULURU will supply Altrazeal at a price equal to 30% of the European sales price and will receive a royalty on sales within the territory.

9:22AM Arcelor Mittal & Peabody Energy (BTU) receive final regulatory clearance to proceed with Macarthur Coal takeover (MT) 19.80 : Co announced they have received clearance from the Ministry of Commerce of the People's Republic of China to proceed with the A$16.00/share cash offer for all outstanding shares of Macarthur Coal. This means that all necessary regulatory conditions to the completion of PEAMCoal's offer have now been received. All participating members of the Macarthur Board have recommended that Macarthur shareholders accept the PEAMCoal offer, in the absence of a superior proposal. The PEAMCoal offer values the equity in Macarthur at ~A$4.8 bln.

9:09AM Echelon partner ELO announces first in brazil to receive government Inmetro Approval to sell portfolio of smart meters (ELON) 7.36 : Co's partner, ELO Sistemas Eletronicos is the first meter manufacturer in Brazil to receive approval from the National Institute of Metrology, Quality and Technology (Inmetro) agency, for its complete product portfolio. This certification is required to sell smart meters in Brazil. Echelon is providing smart metering sub-systems to ELO including power line control and communication technology and embedded firmware for smart meters. In conjunction with Echelon's Control Operating System (COS)-powered control nodes and data center-based system software, ELO is providing a proven, open-standard and multi-application control network solution customized for the Brazilian market.

9:06AM Mead Johnson Nutrition issues upside Q3 guidance; raises FY11 EPS guidance (MJN) 71.86 : Co issues upside guidance for Q3 (Sep), sees EPS of 0.76-0.78 vs. $0.66 Capital IQ Consensus Estimate; sees Q3 (Sep) revs of $934 mln vs. $925.78 mln Capital IQ Consensus Estimate. Guidance is driven by strong sales, favorable foreign exchange and a lower effective tax rate, partially offset by higher dairy costs and operating expenses. Co raises guidance for FY11 (Dec), sees EPS of 2.73-2.78 vs. $2.76 Capital IQ Consensus Estimate. "We are very pleased with our strong sales growth in emerging markets, led by China, Hong Kong and our markets in Latin America... These results point to solid execution of our strategies. At our Investor Day event, we will share the next steps we are taking to drive continued growth and success."

9:05AM Biolase Technology international laser sales exceeded the historically stronger United States market laser sales (BLTI) 3.48 : Co announced that in the third quarter ended September 30, 2011, international laser sales exceeded the historically stronger United States market laser sales.

9:04AM Rosetta Genomics entered into a definitive agreement with investors to purchase an aggregate of $1.9 million in securities in a private placement transaction (ROSG) 1.20 +0.11 : Under the terms of the offering, Rosetta will sell an aggregate of 2,598,002 ordinary shares at a price of $0.75 per share. The investors will also receive warrants to purchase up to an aggregate of 2,598,002 ordinary shares at an exercise price of $1.00 per share and warrants to purchase up to an aggregate of 1,299,001 ordinary shares at an exercise price equal to the greater of $0.01 or NIS 0.04 per share. Rosetta is required to file a resale registration statement on Form F-3 within 20 days following the closing that covers the resale by the investors of the shares and the shares issuable upon exercise of the Series A Warrants and Series B Warrants.

9:04AM Safeway beats by $0.03, beats on revs; reaffirms FY11 EPS guidance (SWY) 17.97 : Reports Q3 (Sep) earnings of $0.38 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.35; revenues rose 7.1% year/year to $10.06 bln vs the $9.85 bln consensus, due primarily to higher fuel sales, a 1.5% increase in identical-store sales (excluding fuel), a higher Canadian exchange rate and the impact of reporting Blackhawk commissions on a gross basis. Gross profit declined 114 basis points to 27.00% of sales in the third quarter of 2011 compared to 28.14% of sales in the third quarter of 2010. Excluding the 88 basis-point impact from fuel sales and the 26 basis-point impact from the change in reporting gift card commissions, gross profit margin was flat.  Co reaffirms guidance for FY11, sees EPS of $1.60-1.80, excluding non-recurring items, vs. $1.68 Capital IQ Consensus Estimate, with comps ex-fuel up ~1%.

9:03AM Agnico-Eagle Mines commences formal take-over bid to acquire Grayd (AEM) 59.26 : Co and Grayd Resource jointly announced today that Agnico-Eagle has formally commenced its previously announced take-over bid to acquire all of the outstanding common shares of Grayd at a price of $2.80 per share. The Offer is open for acceptance until 5:00 p.m. (Toronto time) on November 18, 2011, unless the Offer is extended or withdrawn.

9:03AM Baxter initiates Phase III Trial of investigational BAX 111 For the treatment of von Willebrand disease (BAX) 54.39 : Co announced initiation of a Phase III clinical trial to evaluate the safety and effectiveness of BAX 111, Baxter's investigational recombinant von Willebrand factor, for the treatment and prevention of bleeding episodes in patients with von Willebrand disease. This condition is the most common type of inherited bleeding disorder, affecting both men and women, the majority of whom are undiagnosed due to mild symptoms. BAX 111 is the first recombinant von Willebrand product in clinical development.

9:03AM ManTech closes new $500 million credit facility (MANT) 34.98 : The five-year credit facility provides for borrowings of up to $500 mln and has an accordion feature to expand the facility by an additional $250 mln.

9:02AM Commerce Bancshares misses by $0.01 (CBSH) 38.56 : Reports Q3 (Sep) earnings of $0.76 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.77. The Q3 net loan charge-offs intotaled $14.9 mln vs $15.2 mln in the previous quarter and $21.8 mln yr ago. Bankcard net loan charge-offs declined to $7.1 mln this quarter, or 3.8% of average bankcard loans, while commercial loan net charge-offs totaled only $3.5 mln. As a result of this improved credit environment, our allowance for loan losses declined by $3.5 mln during the current quarter to $188.0 mln, and represents 2.5 times our non-performing loans. Total non-performing assets decreased this quarter to $99.7 mln, but represents only 1.1% of our total loans. Our ratio of tangible common equity to assets was 9.7%, while our loans to deposits ratio totaled 58.3%, reflecting strong capital and liquidity positions.

9:02AM Saratoga Resources announces appointment of Michael Aldridge as Chief Financial Officer (SARA) 4.77 : Mr. Aldridge has more than 16 years of public company executive level financial and accounting experience in the energy industry, including serving in multiple executive positions with NYSE listed Petroquest Energy, Inc. and Ocean Energy.

9:02AM Flamel and Eagle Pharma announce Eagle to license Medusa Technology for extended-release of Tigecycline; Flamel will receive upfront, milestone and double-digit royalty payments (FLML) 4.84 : Eagle Pharmaceuticals and FLML announced that the two companies have entered into a license and development agreement for the development of a Medusa-based hydrogel depot formulation of the small molecule antibiotic, tigecycline. Following the promising results generated in the frame of an initial feasibility study established between Flamel and Eagle Pharmaceuticals, Eagle Pharmaceuticals has decided to exercise its option to pursue its partnership with Flamel. Under the terms of the license and development agreement, Flamel will receive upfront, milestone and double-digit royalty payments. Additionally, Flamel is entitled to receive a percentage of any sub-licensing revenues received by Eagle Pharmaceuticals. All development

8:53AM On The Wires (WIRES) :

• AudioCodes (AUDC) announced it has entered into an agreement that allows BroadSoft (BSFT) to resell AudioCodes VoIP Mobile Access Solutions.
• CryoLife (CRY) announced that ValveXchange has completed the first three human implants with its novel Vitality two-part heart valve system.

8:49AM On The Wires (WIRES) :

• Navigant (NCI) and Piedmont Healthcare announced a strategic relationship that will combine resources to design, develop, and implement solutions under regulatory reform.
• Daxor (DXR) announced the receipt of a signed trial agreement from Schnitzler Cardiovascular Consultants.
• Telvent (TLVT) announced that it received notification from the Staff of The NASDAQ Stock Market that the Staff has determined that, in connection with Schneider Electric Espana's successful tender offer whereby Schneider acquired 98.215% of Telvent's outstanding ordinary shares, 
• CryoLife (CRY) announced today that ValveXchange, a company in which CryoLife owns a minority interest, has completed the first three human implants with its novel Vitality two-part heart valve system.
• OPKO (OPK) announced its acquisition of Claros Diagnostics, Woburn, Massachusetts based company that has developed a novel microfluidics-based test system consisting of a disposable test cassette that resembles a credit card and a small but sophisticated desktop analyzer.
• Rovi (ROVI) announced the signing of a new multi-year licensing agreement for DivX technology with ASUS.
• CAE (CAE) announced that it has sold four Level D full-flight simulators including a Boeing (BA) 777-300ER to Cathay Pacific Airways, an Airbus A320 to the Asian Aviation Centre of Excellence, an Airbus A330 FFS to Lufthansa Flight Training GmBh and a Boeing 777-300ER to an undisclosed customer.

8:42AM Daxor Corporation announces signed trial agreement from Schnitzler Cardiovascular Consultants (DXR) 10.91 : Co announced the receipt of a signed trial agreement from Schnitzler Cardiovascular Consultants. This will provide SCC with a Blood Volume Analyzer-100, an instrument which enables semi-automated measurement of a patient's total blood volume, red blood cell volume and plasma volume. This trial will enroll 300 heart failure patients from multiple medical centers.

8:37AM Albemarle announces expansion of share repurchase program; 6% increase in dividend (ALB) 47.44 : Co announced an increase in their share repurchase program to 5 mln shares. Co also increased their quarterly dividend 6% to $0.175

8:32AM Great Basin Gold provides a mineral resource update for its Burnstone Gold Mine in South Africa; current update reflects a slight increase in tonnage and a slight drop in grade vs August 2010 est (GBG) 1.59 : The updated mineral resource estimate, inclusive of all drilling and underground evaluation up to June 30, 2011, is tabulated below at a range of cutoffs. At a cutoff of 300 cmg/t, the total Measured and Indicated Resources contain ~ 12.6 mln ounces of gold, and the Inferred Resources contain ~ 10.1 mln ounces of gold.

8:27AM Regis: Starboard urges shareholders to support change on the Regis Board by voting for Starboard's nominees (RGS) 16.05 :  

8:23AM Sunpower: Hawaii PUC Approves SunPower-Hawaiian electric contract for 5-MW solar farm in Kalaeloa (SPWRA) 8.58 : Co will design, build and operate the facility. Subject to receipt of applicable permits, Co plans to begin construction this year and complete the solar farm within five months. The price is not linked to the cost of fossil fuel which protects electric customers from the volatility of the price of oil. The cost per kilowatt hour will start under 20 cents and will initially escalate at a fixed rate before a price reduction during the second half of the contract.

8:17AM On The Wires (WIRES) :

• Ampio Pharmaceuticals (AMPE) announced that it has completed the treatment phase of the Ampion-in-Knee trial.
• QAD Inc. (QADA) announced GEA Technika Cieplna has deployed the latest version of QAD Enterprise Applications in its manufacturing plant in Opole, Poland.
• Citrix Systems (CTXS) announced it has completed the acquisition of ShareFile1. Financial terms not disclosed.
• China Technology Development (CTDC) announced that the Company's subsidiary, China Merchants Zhangzhou Development Zone Trendar Solar Tech signied a 10.8MW Goldpoly On-Grid Rooftop Solar contract as the turnkey project contractor. 
• Synageva BioPharma (TRMS) announced that each company will hold a special meeting of its stockholders on Wednesday, November 2, 2011, to consider and vote on certain matters in connection with the proposed merger of Synageva and Trimeris, pursuant to the Agreement and Plan of Merger, dated June 13, 2011.
• Science Applications (SAI) announced it was awarded a prime contract by HollyFrontier Corporation to provide design-build services in support of the construction of a new Benzene Saturation Unit to meet Environmental Protection Agency regulatory requirements. The single-award contract has a value of ~ $11 mln.
• SMSC (SMSC) announced that Samsung Electronics has licensed SMSC's patented Inter-Chip Connectivity technology.
• Optimer Pharmaceuticals (OPTR) announced that new research findings for DIFICID tablets will be featured in presentations at the 49th Annual Meeting of the Infectious Diseases Society of America occurring October 20-23 in Boston.
• Electro Rent (ELRC) announced that it has been selected as one of eight recipients to receive a 2011 Preferred Supplier Award from L-3 Communications in recognition of the company's ethical conduct, customer support and operational excellence.
• Exelon (EXC) and Constellation (CEG) have begun the distribution of the joint proxy statement/prospectus for the special shareholder meetings associated with their proposed merger, both scheduled for Nov 17th.

8:10AM Harley-Davidson opens new Latin America headquarters; expects that sales outside of US will exceed 40% of the total by 2014 (HOG) 36.69 :  

8:08AM WebMD Health announced an increase of $75 mln in the amount available under its existing stock repurchase program (WBMD) 29.85 :  

8:04AM Merck's ISENTRESS in combination therapy demonstrated virological and immunological efficacy versus the Efavirenz Regimen at 192 Weeks of treatment in previously untreated adults with HIV-1 (MRK) 32.60 : Co announced results of new exploratory pre-specified analyses from the ongoing STARTMRK Phase III study of its integrase inhibitor ISENTRESS Tablets in combination therapy compared to efavirenz in combination therapy in previously untreated adult HIV-1-infected patients. The analyses showed that the regimen containing ISENTRESS demonstrated better efficacy compared to the regimen containing efavirenz at 192 weeks of treatment, as measured by the percentage of patients maintaining undetectable virus levels vs. 67.0 percent; 95 percent confidence interval 1.6, 16.4. The regimen containing ISENTRESS also showed a greater immunological effect as measured by mean increase from baseline in CD4-cell count at week 192 versus the efavirenz regimen. The safety and efficacy of ISENTRESS have not been established in pediatric patients.

8:03AM Lindsay Corp misses by $0.05, beats on revs (LNN) 60.27 : Reports Q4 (Aug) earnings of $0.59 per share, ex-$0.13 in non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.64; revenues rose 33.1% year/year to $116.1 mln vs the $108.4 mln consensus. Gross margin was 25.9% compared to 29.5% in the prior year's fourth quarter. Total gross margins were lower primarily due to lower revenues of higher-margin QMB product as compared to the same period last year. "Although macro uncertainties exist in many global markets as we enter our fiscal 2012, we are encouraged by positive farmer sentiment and higher commodity prices. While commodity prices will fluctuate, as we have seen most recently, growth drivers of expanded food production and efficient and environmentally friendly water use remain very positive for our business, long-term. In addition, demand for our unique offering of transportation safety products will continue to be driven by population growth and the need for improved road safety."

8:03AM Enterprise Products increases distribution from $0.5825/unit to $0.6125/unit (EPD) 42.46 :  

8:03AM Gibraltar Industries announces new five-year $235 mln credit facility (ROCK) 9.85 : Co announced today that it has closed on a new $235 million credit agreement which includes a $200 million senior secured revolving credit facility with a five-year maturity as well as a $35 million term loan commitment. The new facility replaces a $200 million senior secured revolving credit facility that was due to expire in August 2012. There were no draws on the revolver as of September 30, 2011. In addition to the increase in the facility size, the new agreement will reduce Gibraltar's cost of borrowing and provide additional financial flexibility. The facility will be used for general corporate purposes, including funding future acquisitions.

8:01AM Sinovac Biotech has been selected by the Beijing CDC as one of the four manufacturers to supply seasonal influenza vaccine to the citizens of Beijing for the fourth time (SVA) 2.22 :  

7:54AM Fastenal reports EPS in-line, revs in-line (FAST) 34.62 : Reports Q3 (Sep) earnings of $0.33 per share, in-line with the Capital IQ Consensus Estimate consensus of $0.33; revenues rose 20.4% year/year to $726.8 mln vs the $721.8 mln consensus.  Co did not purchase any stock in 2010 or in the first nine months of 2011. They currently have authority to purchase up to 1.8 mln shares.

7:40AM On The Wires (WIRES) :

• Eastman Kodak (EK) announced enhancements to its KODAK Picture Kiosk software that allows consumers to use images from shared photo albums on Facebook and on imaging sites such as Google (GOOG) Picasa.
• Nexans, Siemens (SI) and American Superconductor (AMSC) announced the successful qualification of a transmission voltage resistive fault current limiter that utilizes high temperature superconductor wire.
• Horizon Pharma, (HZNP) announced that it has received a Notice of Allowance from the United States Patent and Trademark Office for Application Serial No. 12/324808 entitled "Stable Compositions of Famotidine and Ibuprofen" with claims that cover DUEXIS.
• Echo Therapeutics (ECTE) announced that it is initiating a clinical study of its Symphony tCGM System in patients with Type 1 and Type 2 diabetes.
• Zoom Technologies (ZOOM) announced it has signed a definitive agreement to acquire a 55% share of Portables Unlimited, a wholesale distributor of T-Mobile (DTEGY) products in the United States. Terms not disclosed.
• Rentrak (RENT) announced Fisher Communications (FSCI) has renewed its StationView Essentials contract for its CBS and FOX stations in Bakersfield, California and has added their Seattle, Washington ABC affiliate, KOMO-TV.

7:34AM Micromet obtains FDA feedback on registration strategy for Blinatumomab in relapsed/refractory acute lymphoblastic leukemia (MITI) 5.69 : The plan incorporates advice received from the FDA within the context of a Type C meeting. "Recent feedback received from the FDA provides a roadmap to blinatumomab registration in a patient population with limited therapeutic options... We look forward to initiating later this quarter the first of two planned clinical trials collectively intended to support a biologics license application for full approval." Later this quarter, the Company plans to initiate a single-arm Phase 2 clinical study that will enroll approximately 65 adult patients with B-precursor r/r ALL. Co also reviewed with the FDA the preliminary design of a planned randomized, controlled, Phase 3 clinical study intended to evaluate the efficacy and safety of blinatumomab in comparison to chemotherapy in adult patients with r/r B-precursor ALL. Data from this trial, if positive, are intended to support full approval of blinatumomab in this patient population.

7:34AM Fairchild Semi beats by $0.02, reports revs in-line; guides Q4 revs below consensus (FCS) 12.24 : Reports Q3 (Sep) earnings of $0.34 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.32; revenues fell 2.7% year/year to $403.2 mln vs the $404.1 mln consensus -- co lowered rev guidance last month; adjusted gross margin of 36.0 percent, down 120 basis points QoQ and 50 basis points YoY. Co issues downside guidance for Q4, sees Q4 revs of $350-370 vs. $395.95 mln Capital IQ Consensus Estimate. "Our current scheduled backlog is nearly sufficient to achieve the low end of this range. We expect adjusted gross margin to be between 32 to 34 percent as we adjust factory loadings lower in the fourth quarter to reduce inventory... Mobile and automotive demand was in line with expectations. Computing demand remained muted and we continue to drive inventory lower in the distribution channel for these products. Consumer and solar demand remains weak. Distribution sell-through decreased 9 percent sequentially which was more than expected and resulted in a modest build of channel inventory. We plan to ship substantially less into the channel than our distribution customers are forecasting for sell through in the fourth quarter. This should enable us to exit this year with a leaner inventory position and be ready to grow sales again in 2012."

7:32AM Magnum Hunter resources provides Appalachian region operations update (MHR) 3.92 : Co provided a drilling, operational, and production update today on the activities of its wholly-owned subsidiary, Triad Hunter, in the Appalachian Region. Marcellus wells were tested and are currently producing on a capacity constrained basis due to volume limitations of the existing midstream infrastructure. The co expects these constraints to be completely alleviated on or before October 31 upon the completion of new pipeline construction and installation of additional production capacity.

7:31AM Hyperdynamics spuds first exploration well, Sabu-1 Offshore Guinea (HDY) 4.43 : Co announced the commencement of drilling operations today at its initial exploration well in its concession offshore the Republic of Guinea. The Sabu-1 well will be drilled by the Jasper Explorer drill ship. The water depth at this location is approximately 700 meters. The target is a four-way anticline oil prospect with upper Cretaceous sands. Total well depth is anticipated to be 3,600 meters.

7:31AM POZEN reports top-line data from long-term safety study of PA32540 - 'data support the possibility that long-term treatment with PA32540 may provide patients with a safe and effective option' (POZN) 2.84 : In this open label study, adverse events were consistent with what would be expected in this population of patients requiring cardio-aspirin therapy and with the known safety profile of the PA components. The rate of discontinuation due to adverse events was low, and few patients developed major cardiovascular adverse events. Co stated "These data support the possibility that long-term treatment with PA32540 may provide patients with a safe and effective option for secondary prevention of cardiovascular events, including heart attacks and strokes," said Tomas S. Bocanegra, M.D., FACP, Executive Vice President of Development of POZEN. "We are pleased that the results of this trial support the safety profile that we expected for PA32540. As soon as we obtain the results of the two ongoing pivotal Phase 3 trials in the first half of 2012, we will have all of the necessary components for the PA32540 NDA which is scheduled for submission to the FDA during the second half of 2012."

7:31AM Brigus Gold provides update on continuing progress at its Black Fox Mine (BRD) 1.13 : The Black Fox Mine produced 16,838 ounces of gold in the third quarter of 2011 compared to 15,688 ounces in Q2 2011 and 8,772 ounces in the first quarter of the year. This is a 7% increase over Q2 production and a 92% increase over first quarter production. For the third quarter of 2011, Brigus processed 189,674 tonnes at an average grade of 2.9 grams per tonne and an average recovery of 95.2%. 75% of the ore processed was mined from the Phase 2 open pit. Mill throughput averaged 2,062 tonnes per day (tpd) during the third quarter. Co has sufficient cash flow to fund near term operating and development needs.

7:21AM On The Wires (WIRES) :

• Clean Diesel Technologies (CDTI) announced that its Heavy Duty Diesel Systems division has received nearly $1.3 mln in new orders for its verified emission reduction products under the California Air Resources Board's Lower-Emission School Bus Program to be used in the retrofitting of Northern California school buses.
• Cubic (CUB) has received an order worth $11 mln for its Engagement Skills Trainer 2000 virtual small arms training system.
• AECOM Technology (ACM) announced that its master plan for the 2016 Rio Olympic and Paralympic Games has been accepted by the city of Rio de Janeiro.
• Evolution Petroleum (EPM) reported the execution of commercial agreements with two companies to install and demonstrate the effectiveness of its GARP artificial lift technology.

7:19AM DineEquity announced earlier the sale of 17 Applebee's company-operated restaurants in the mid-south area to Apple Investors Group; transaction is expected to result in net proceeds after taxes of ~ $15.9 mln (DIN) 41.17 : Co announced that it has entered into an asset purchase agreement with Apple Investors Group, LLC for the sale of 17 Applebee's company-operated restaurants located in Tennessee, Illinois, Mississippi, Missouri, Kentucky and Arkansas, which mainly serve the Memphis, TN and Paducah, KY/Cape Girardeau, MO media markets. The transaction is expected to result in net proceeds after taxes of ~ $15.9 mln and reduce DineEquity's sale-leaseback related financing obligations by $11.3 mln . The Company expects to pay ~ $2.4 mln related to the settlement of net working capital liabilities and deal costs. Additionally, the sale of these Applebee's company-operated restaurants will result in ~ $0.9 mln in annualized consolidated general and administrative savings. Based on the trailing twelve months ending August 31, 2011, the pro forma reduction in DIN's annual EBITDA would be ~ $5.5 mln. Co anticipates closing the transaction in the first quarter of 2012.

7:15AM JPMorgan Chase beats by $0.08, beats on revs (JPM) 33.20 : Reports Q3 (Sep) earnings of $1.02 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.94; revenues rose 0.1% year/year to $24.37 bln vs the $23.27 bln consensus. Co reported third-quarter 2011 net income of $4.3 bln, compared with net income of $4.4 billion in the third quarter of 2010, representing a 13% return on tangible common equity.

Several significant items including a $542 million pretax loss in Private Equity, $1.0 billion pretax of additional litigation expense in Corporate and a $1.9 billion pretax DVA gain ($0.29). Jamie Dimon said, 'The DVA gain reflects an adjustment for the widening of the Firm's credit spreads which could reverse in future periods and does not relate to the underlying operations of the company. All things considered, we believe the Firm's returns were reasonable given the current environment'. 

The impact on the bottom line for these results were as follows: $1.9 billion pretax ($0.29 per share after-tax) benefit from debit valuation adjustment ("DVA") gains in the Investment Bank, resulting from widening of the Firm's credit spreads $542 million pretax ($0.09 per share after-tax) Private Equity loss $1.0 billion pretax ($0.15 per share after-tax) additional litigation expense, predominantly for mortgage-related matters, in Corporate.

Fortress Balance Sheet: Basel I Tier 1 Common1of $120 billion, ratio of 9.9%; estimated Basel III Tier 1 Common ratio of 7.7%... JPM repurchased $4.4 billion of common stock during the third quarter; Credit reserves at $29.0 billion; loan loss coverage ratio 3.74% of total loans.

Loan Activity: Over $1.3 trillion in new and renewed credit provided to and capital raised for consumers, corporations, small businesses, municipalities and not-for-profits year-to-date: Small business loan originations of $12.6 billion, up 71% compared with prior year-to-date and 133% compared with the same period in 2009; Middle-market loans of $41.5 billion, up 18% compared with prior year; Trade finance loans of $30.1 billion, up 69% compared with prior year.

Investment Banking: Net income was $1.6 billion, up 27% from the prior year. Higher net revenue was partially offset by an increased provision for credit losses and higher noninterest expense. Net revenue included a $1.9 billion gain from debit valuation adjustments ("DVA") on certain structured and derivative liabilities, resulting from the widening of the Firm's credit spreads. This was partially offset by a $691 million net loss, including hedges, from credit valuation adjustments ("CVA") on derivative assets within Credit Portfolio, due to the widening of credit spreads for the Firm's counterparties. Net revenue was $6.4 billion, compared with $5.4 billion in the prior year. Investment banking fees were down 31% to $1.0 billion, consisting of debt underwriting fees of $496 million (down 37%), equity underwriting fees of $178 million (down 47%) and advisory fees of $365 million (down 5%). Fixed Income Markets revenue was $3.3 billion, up 7% (down 14% excluding DVA gains of $529 million). These results reflected solid revenue from rates and currency-related products, partially offset by lower results in credit-related products. Equity Markets revenue was $1.4 billion, up 25% (down 15% excluding DVA gains of $377 million). These results reflected solid client revenue, partially offset by the impact of challenging market conditions. Credit Portfolio revenue was $578 million, including DVA gains of $979 million and net interest income and fees on retained loans, largely offset by net CVA losses of $691 million.

RFS: The provision for credit losses was $1.0 billion, a decrease of $370 million from the prior year and an increase of $33 million from the prior quarter.

7:14AM Accelr8 Technology announced earlier that upon reaching the end of its technology evaluation agreement with Novartis (NVS) discussion has now shifted to searching within Novartis for funding vehicles (AXK) 3.20 : This transition follows Novartis business analyses and successful Proof of Concept technical studies conducted jointly between the companies. Accelr8's management concluded that in addition to successful technical studies, the findings from a number of independent business analyses and advisory boards have been concordant with Accelr8's market assessments and pricing assumptions.

7:10AM Winnebago Inds beats by $0.08, beats on revs (WGO) 7.65 : Reports Q4 (Aug) earnings of $0.12 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.04; revenues rose 6.0% year/year to $130.5 mln vs the $114.7 mln consensus. "Results for the fourth quarter followed the same pattern as the third, showing the impact from an economy that had slowed in the second half of our fiscal year. While we experienced improved market conditions in the first half of Fiscal 2011, we were disappointed to see the negative effects caused by falling consumer confidence throughout the remainder of the year. The trend of rising average selling prices for our vehicles, however, was positive for us and we were pleased to complete the year with growth in revenues, operating income and net income year over year."

7:07AM Theratechnologies reports Q3 EPS of ($0.07) vs. ($0.06) last yr; rev +105% YoY to $3.5 mln vs. the $3.6 mln est; liquidities of $40 mln at Q end (THER) 3.11 :  

7:04AM Sangamo BioSci announces publication in nature of gene correction strategy for Alpha 1-Antitrypsin deficiency (SGMO) 3.38 : The study, published in Nature, further highlights the precision and broad applicability of ZFN-based genome-editing for the development of ZFP Therapeutics for the treatment of monogenic diseases. "These data demonstrate the potential of combining human iPSCs with ZFN-driven gene correction to generate differentiated cell-based therapies," stated Philip Gregory, D. Phil., Sangamo's vice president of research and chief scientific officer. "Importantly, analysis of the entire coding sequence of a ZFN-corrected iPSC line revealed that the only modification attributable to ZFN activity was the intended repair of the A1AT gene. This demonstrates the singular specificity that can be achieved using Sangamo's ZFP technology."

7:04AM CONSOL Energy reports operations update; Gas Division produces Record 40.4 Bcf, up 13% YoY (CNX) 38.95 : Co announces operations update for the quarter ended September 30, 2011. Co's Gas Division produced a record 40.4 Bcf for the quarter, or nearly 13% more than the 35.8 Bcf produced in the year-earlier quarter. The Gas Division also achieved peak production of 39.4 MMcf per day from the first five wells on a new 10-well pad in the Marcellus Shale. Co's Coal Division produced 14.7 mln tons for the quarter, including 1.4 mln tons of low-vol metallurgical coal from the co's Buchanan Mine. As a result of producing toward the higher end of the previous guidance in the just-ended quarter, co expects total fourth quarter coal production to be between 14.7-15.3 mln tons, reflecting a normal seasonal pattern. If achieved, this would mean that annual coal production will be between 62.0-62.6 mln tons. Buchanan Mine fourth quarter production is expected to be between 1.0 - 1.2 mln tons. If achieved, this would mean that annual production of low-vol coal will be between 5.3 - 5.5 mln tons. Thermal coal inventories remained unchanged at 1.6 mln tons during the quarter, as sales matched production. The co expects its 2011 gas production, on a 100%-basis, to be approximately 160 Bcf. This is at the high end of earlier guidance.

7:04AM Anadys Pharma announces 'positive' 12-week data for Setrobuvir in Phase 2b Hepatitis C study (ANDS) 1.03 : Co released interim antiviral response and safety data from an ongoing Phase IIb study of setrobuvir in combination with pegylated interferon and ribavirin (P/R) in genotype 1 hepatitis C patients. Setrobuvir is the Company's direct-acting antiviral being developed for the treatment of chronic hepatitis C, or HCV. 78% of treatment-naive patients and 76% of patients who had responded inadequately to, or relapsed after, prior treatment with P/R had undetectable virus at week 12 while receiving setrobuvir plus P/R, compared to 56% and 44%, respectively, for patients who received placebo plus P/R. 71% of treatment-naive patients who received setrobuvir plus P/R had undetectable virus at week 8 and met the initial response-guided criteria for shortening treatment in this study to 28 weeks from the traditional 48 weeks for treatment with P/R alone. High Barrier to Resistance Confirmed.  29% of patients who had no appreciable response to prior treatment with P/R (null responders) achieved cEVR with setrobuvir plus P/R, and the percentage of patients with undetectable virus continued to climb in this hard-to-treat population to 36% at week 18. No prior null responders received placebo plus P/R in this trial.

7:03AM Achillion Pharma announces nomination of second generation NS5A inhibitor for the treatment of Hepatitis C (ACHN) 4.91 : Co announced the nomination of an additional clinical candidate for the treatment of the hepatitis C virus from its NS5A inhibitor program. The candidate, ACH-3102, is a second generation NS5A inhibitor that in preclinical studies has demonstrated potent pan-genotypic activity against HCV genotypes 1 - 6, including excellent activity against both the genotype 1a subtype and known mutant variants of genotype 1 HCV.

7:03AM Akamai Tech and Evidon enter into exclusive agreement to enable the dynamic insertion of privacy notice across websites (AKAM) 23.37 : Co announced an exclusive strategic alliance whereby co will be able to offer its customers easy access to Evidon's privacy and compliance services for the management of the Industry Self-Regulatory Program in the US, the European ePrivacy Directive, and its corollary self-regulatory effort for Online Behavioral Advertising. The agreement between the companies is intended to enable Akamai customers to seamlessly provision and deploy Evidon's InForm assurance service across their websites.

7:02AM Cyclacel Pharma Announces Data Safety Monitoring Board Recommendation to Continue the SEAMLESS Phase 3 Trial of Sapacitabine (CYCC) 0.46 : Co announced that the independent Data Safety Monitoring Board of SEAMLESS, the Phase 3, randomized, registration-directed study of sapacitabine in elderly patients with acute myeloid leukemia, recommended that the study should enter the randomized stage as planned. The DSMB reviewed available data from a total of 46 patients receiving oral sapacitabine capsules, the Company's lead product candidate, administered in alternating cycles with decitabine. The DSMB noted that no safety or efficacy concerns were identified. The DSMB review was mandated in the Special Protocol Assessment (SPA) agreement that Cyclacel entered into with the FDA with regard to the SEAMLESS study protocol.

7:02AM Beazer Homes provides preliminary Q4 data; Q4 orders up 33% YoY (BZH) 1.69 : Co provides preliminary fourth quarter new home orders, new home closings and its backlog and cash and cash equivalents as of September 30, 2011. Co sees Q4 FY11 Orders of 1,006, up 33% from Q4 FY10; Q4 FY11 Closings: 1,376, up 23% from Q4 FY10; Backlog units at September 30, 2011: 1,450, up 88% from September 30, 2010; sees Total cash & cash equivalents at September 30, 2011 of $646 mln. Due to several new mortgage underwriting audit processes implemented in September by the co's largest mortgage provider, over 100 home closings were pushed from the last week of September into October. These closings are expected to generate ~$23 mln of additional cash during the first 2 weeks of October that had previously been anticipated to be collected prior to September 30, 2011.

6:55AM NIDEC announced that no damages to the co's employees have been reported due to floods (NJ) 20.39 : The co plans to lay out an operation schedule for the currently inoperative factories based on changes in the situation. The exact amount of damage and the effect of the floods on the co's performance are yet to be assessed. Co will continue to report on any actual or potential impact on the their business performance.

6:53AM China Medical Tech receives SFDA approval for its PCR-based KRAS Assay for colorectal cancer targeted drug (CMED) 4.93 : Co announced that China's State Food and Drug Administration has approved the Company's real-time PCR-based V-Ki-ras2 Kirsten rat sarcoma viral oncogene homolog assay as a companion diagnostic test for the use of a targeted drug for the treatment of colorectal cancer patients.

6:51AM Hewlett-Packard: Gartner says worldwide PC shipments grew 3.2% in 3Q of 2011; HPQ first in global PC shipments (HPQ) 25.87 : Worldwide PC shipments totaled 91.8 mln units in the third quarter of 2011, a 3.2 percent increase from the third quarter of 2010, according to preliminary results by Gartner. These results are slightly lower than Gartner's earlier projection of 5.1 percent growth for the quarter. HPQ was the No. 1 vendor based on global PC shipments, grew faster than the industry average, and its market share reached 17.7% in the Q3 of 2011. Despite announcing in the middle of 2Q11 the potential spinoff of its PC business, HPQ experienced strong growth in the U.S., while outside the U.S., growth was relatively weak or average. Lenovo (LNVGY) became the second-largest PC vendor in the worldwide market for the first time.

6:41AM BP and partners investing GBP10 bln in UK oil and gas projects (BP) 38.63 : Co announced it and its partners are developing four new oil and gas projects that together will involve a total investment of almost GBP10 bln in the UK's oil industry over the next five years and help to maintain BP's production from the North Sea for decades to come. The UK Government today granted BP and its partners - Shell, ConocoPhillips and Chevron - approval to proceed with the GBP4.5 bln Clair Ridge project, the second phase of development of the giant Clair field, west of the Shetland Islands.

6:35AM Extorre Gold Mines announced the appointment of Trevor Mulroney to the position of COO and Alberto Carlocchia to the position of Country Manager - Argentina (XG) 8.76 : These appointments are effective immediately and represent a significant development for the Cerro Moro project as it moves towards the mine development phase. Most recently, Trevor has held the positions of Project Director for Kula Gold at the Woodlark Project in PNG, Project Manager for Santa Barbara Mines Ltd in Western Australia,

6:32AM Harry Winston Diamond reports that in Q3 of 2011, Diavik mine produced 1.9 million carats from 0.6 million tonnes of ore processed (HWD) 11.96 : Ore processed in the quarter was 3% higher, and carats recovered were 8% higher, compared to the same period from 2010, due to an increase in the overall grade of the ore processed. For the nine months ending September 30, 2011, Diavik produced 5.1 mln carats from 1.7 mln tonnes of ore processed.

6:31AM Genesee & Wyoming traffic in September was 83,608 carloads, an increase of 13.3% (GWR) 53.79 : CO reports traffic in September 2011 was 83,608 carloads, an increase of 9,837 carloads, or 13.3 percent, compared with September 2010. Co's traffic in the third quarter of 2011 was 256,190 carloads, an increase of 33,629 carloads, or 15.1%, compared to the third quarter of 2010.

6:31AM ISTA Pharm's REMURA was highly effective but not statistically significantly better than placebo; PROLENSA statistically significant (ISTA) 3.79 : Co announced top-line results from the second of its two Phase 3 studies to evaluate the short-term safety and efficacy of two concentrations of REMURA in alleviating the signs and symptoms of dry eye disease. In the EAST study, REMURA was highly effective in treating a sign and symptom of dry eye but was not statistically significantly better than placebo in the entire patient cohort, a common outcome reported in studies testing other dry eye therapies. In both Phase 3 studies, safety data demonstrated REMURA was well-tolerated, with an adverse event profile similar to placebo. Co also announced statistically significant results from the Phase 3 clinical program for PROLENSA. In both Phase 3 studies, PROLENSA was statistically significantly better than placebo and met the primary efficacy endpoint of absence of ocular inflammation 14 days following surgery and the secondary efficacy endpoint of elimination of ocular pain one day post-surgery. There were no serious drug-related ocular or systemic adverse events.

6:03AM Research In Motion reports 'significant increase' in Blackberry service levels (RIMM) 23.88 : Co announced, in Europe, Middle East, India and Africa, they are seeing a significant increase in service levels. Service levels are also progressing well in the U.S., Canada and Latin America and the co is seeing increased traffic throughput on most services, although there are still some delays and services levels may still vary amongst customers. In the US, Email systems are operating and the co is continuing to clear any backlogged messages. Support teams are working to minimize the impact on their customers.

4:18AM Rio Tinto reports Q3 operational results; produces global iron ore production of 64 mln tonnes, +5% YoY (RIO) 52.35 : Co reports Third quarter iron ore sales of 60 mln tonnes from the Pilbara operations in Western Australia set a new quarterly record as the ports and rail recovered strongly from the inclement weather experienced earlier in the year. Mined copper continued to be impacted by lower grades at Escondida and Kennecott Utah Copper and was down 32% on the third quarter of 2010. Coal production from the Queensland and New South Wales coal mines rebounded from the severe rains in the first half of the year. Australian hard coking coal production set a new quarterly record and was 14% higher than third quarter of 2010 and 55 per cent higher than the second quarter.

3:22AM Evergreen Energy appoints Judith Tanselle as President (EEE) 0.95 : Most recently, she led the start-up of White Energy's North American operations where she was instrumental in securing a joint development agreement with Peabody Energy and developing White Energy's US-based projects.

1:38AM On The Wires (WIRES) :

• MediciNova (MNOV) and the Jasdaq Market of the Osaka Securities Exchange, announced it has closed the private stock sale to Kissei Pharmaceutical.
• Waste Management (WM) announced that it has taken an equity position in InEnTec by exchanging its equity interest in S4 Energy Solutions, for an equity position in InEnTec. Additionally, co's commercial demonstration plant in Oregon receives approval to begin operations.
• Life Technologies (LIFE) announced eight new research products, including the Ion Sequencing 200 Kit, which enables 200 base pair reads.
• IBM (IBM) announced it has joined a collaborative consortium to help develop an energy grid that uses at least 50% of renewable energy sources, such as wind power, solar energy and biogas. Additionally, IBM announced that it has teamed with EKZ, the electricity utility provider of the Canton of Zurich in Switzerland, on a new pilot project that will allow consumers to conveniently charge electric vehicles and monitor their energy costs, using mobile devices.
• CSC (CSC) announced it is expanding its global network of business process service centers for insurance, annuities and pensions to extend business process outsourcing services to new geographic regions. New operations supporting multiple languages will be established in Hong Kong and Kuala Lumpur, Malaysia.

1:00AM Time Warner prices $1 bln debt offering; prices $500 mln 4.00% Senior Notes due 2022 and $500 mln 5.375% debentures due 2014 (TWX) :  

1:00AM MDC Holdings announces notice of redemption of all outstanding 5.50% Senior Notes due 2013 (MDC) 19.31 : Co announces that it will redeem all of its outstanding 5.50% Senior Notes due 2013, which total $176,696,000, on November 14, 2011.

1:00AM Senior Housing prices 8 mln common shares at $21.00 per share (SNH) 21.81 :  

1:00AM Helix BioPharma files IND Clinical Hold Response with FDA for its planned topical interferon Alpha-2b Phase II/III efficacy trial (HBP) 1.96 : Co announces that it has filed its complete response to the "clinical hold" issues previously raised by the FDA related to its pending Topical Interferon Alpha-2b, Phase II/III, low-grade cervical lesion efficacy trial investigational new drug application.

1:00AM Sally Beauty increases size of size of public offering by 3 mln shares and prices 18 mln shares of common stock at $16.75 by CDR Investors (SBH) 16.96 :