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| 18:39 ET Qualcomm announced Federal District Court rules on alleged violations of injunction Co announced that the District Court for the Central District of California issued a ruling on Broadcom's motion to find QCOM in contempt of various aspects of the Court's December 31, 2007 injunction ruling arising from the underlying trial last May. While the Court found that QCOM had not violated the order on most of the issues raised by Broadcom, and while the Court declined to enjoin QCOM from continuing to make and sell WCDMA chips that implement a design around, the Court did find certain violations. The Court found that QCOM violated the injunction by continuing to service and support WCDMA products that were made and sold between the date of the trial verdict in May and the date the injunction first issued on December 31, 2007. QCOM interpreted the order as requiring it to pay royalties on such products and provided service and support in reliance on that interpretation. The Court disagreed and a new accounting will require Broadcom to return the royalty payments. The Court also ruled that Qualcomm employees must stop using phones containing the WCDMA chips sold between May and December. QCOM is permitted to continue to service and support all WCDMA products containing the design around and all products containing chips sold before the verdict. The Court also found that QCOM violated the injunction with respect to service, support and exclusivity payments related to version 3.0 of its QChat software. While QCOM has not sold version 3.0 since the date of the injunction, and has released a design-around version of QChat, the Court found that the U.S. revenue associated with version 3.0 service, support and exclusivity was subject to royalty payments. The Court's order now requires QCOM to pay profits related to that revenue. While Qualcomm appreciates that the Court found in favor of Qualcomm on most issues, it will appeal those issues on which the Court has ruled against it. |
| 18:22 ET AK Steel and USW reach early labor agreement for ashland coke plant Co said that members of United Steelworkers (USW) Local 8-523 have overwhelmingly ratified a new three-year labor agreement covering about 240 hourly production and maintenance employees at the co's Ashland, Kentucky coke plant. The new agreement takes effect immediately and runs through October. |
| 18:11 ET Virtusa announces departure of President, COO and Board Member Danford F. Smith Co announced that Danford F. Smith, President, Chief Operating Officer and member of the Board of Directors, has resigned from the co, effective September 30, 2008 in order to pursue other opportunities. |
| 18:11 ET Shaw Comms to acquire the Campbell River Cable System for ~$46 mln Co announce that the membership of the Campbell River TV Association has overwhelmingly approved the sale of the cable system in and around Campbell River, British Columbia to Shaw. The transaction is valued at ~$46 mln and is scheduled to close pending CRTC approval. |
| 18:09 ET NASDAQ: Nord Pool granted license for U.S. trading Nord Pool has been granted permission from the U.S. Commodity Futures Trading Commission (CFTC) to allow U.S. companies to trade and clear Nordic, international and carbon products. The license will give Nord Pool the opportunity to set up PowerClick terminals in the U.S., and hence enforce the future NASDAQ OMX Group, Inc. global commodity offering and increase the market reach substantially. The CFTC has, after Nord Pool's request to approach the U.S. market approach, examined thoroughly all aspects of Nord Pool's business as a regulatory regime, market surveillance, information sharing, trading and clearing procedures, risk calculation and other critical areas. The CFTC granted Nord Pool ASA a no-action relief letter, giving Nord Pool the right to establish direct customer relations with domestic U.S. companies. |
| 17:56 ET Citrix Systems guides Q3 and FY08 EPS in-line with consensus in an 8-K Co guides, in an 8-K, Q3 EPS of $0.36-0.39 vs. $0.38 First Call consensus; guides FY08 EPs of $1.54-1.60 vs. First Call consensus of $1.57. |
| 17:47 ET MDU Resources pipeline subsidiary to Expand Grasslands Pipeline Williston Basin Interstate Pipeline Company, the wholly owned natural gas transmission pipeline subsidiary of MDU Resources Group (MDU), will expand firm transportation capacity on its existing Grasslands Pipeline by 54 percent. The 253-mile Grasslands Pipeline was placed in service in late 2003, running from the Powder River Basin in northeastern Wyoming to western North Dakota, where it connects with the Northern Border Pipeline. |
| 17:45 ET Gander Mountain announced that Court of Appeals upholds the co's legal victory Co announced that a panel of the United States Court of Appeals for the Eighth Circuit unanimously upheld a judgment granting GMTN a sweeping victory in its long-standing dispute with rival Cabela's over the right to use certain GMTN trademarks in direct marketing. |
| 17:31 ET White Mountains adopts $1 per share annual dividend policy, down from the prior $2 dividend Co announced at its regular meeting held on August 27, 2008, the Board of Directors of WTM adopted a new dividend policy whereby the co will revert back to declaring a $1 per share annual dividend in the first quarter of each year, rather than the current $2 per share quarterly dividend. |
| 17:16 ET Wabash Natl announces price increases of an avg of 5% Co announced that prices of its trailer products will increase an average of 5% effective for new orders booked on or after Oct. 1, 2008, with an additional increase ranging from 3-5% effective Jan. 1, 2009. |
| 17:15 ET Nexxus Lighting announces proposed follow-on offering of common stock of 3.3 mln shares Co announced that it has filed a registration statement with the Securities and Exchange Commission relating to a proposed follow-on offering of its common stock. NEXS is offering 3,300,000 shares and a selling stockholder of NEXS is offering 300,000 shares. The underwriters have an option to purchase an additional 540,000 shares of NEXS's common stock to cover over-allotments. |
| 16:48 ET Speedway Motorsp to proceed with Kentucky Speedway acquisition Co is proceeding with the purchase of Kentucky Speedway. In May 2008, co entered into an agreement to acquire Kentucky Speedway from Kentucky Speedway, pending a 90-day period to conduct due diligence. The period expired and the co has decided to move forward with the acquisition, subject to satisfaction of remaining closing conditions. The acquisition is expected to close in the fourth quarter of this year, most likely in December. Co also plans to use its proven business model to maximize revenues and streamline expenses at existing Kentucky Speedway events to offset an initial reduction in the co's earnings, which could ~$0.12-0.18 per share per year pending the scheduling of a Sprint Cup Series event at Kentucky Speedway. The reduction in earnings relates primarily to estimated interest, depreciation, and general and administrative expenses. |
| 16:40 ET Delhaize Group announces CFO's departure The co announces Craig Owens, Executive Vice President and Chief Financial Officer of Delhaize Group, has decided to accept the offer of Campbell Soup to become its Chief Financial Officer and Chief Administrative Officer. The process to appoint a successor for Craig Owens as CFO of Delhaize Group has already been initiated and will be diligently pursued. |
| 16:38 ET Interline Brands announces the acquisition of Eagle Maintenance Supply Co announces the recent acquisition of Eagle Maintenance Supply, a $17 mln distributor of janitorial and sanitary supplies to the institutional marketplace. "It extends our platform within the attractive institutional marketplace by bolstering our janitorial and sanitary product offering and strengthening our market position in the Northeast from Washington, D.C. to Philadelphia. We expect the transaction to be neutral to earnings in 2008 and slightly accretive to earnings in 2009." |
| 16:36 ET PAB Bankshares announces suspension of quarterly dividend |
| 16:36 ET Fortune Brands receives cash payment from Pernod Ricard and acquires Cruzan Rum Brand for $100 mln Co announces an agreement under which FO will receive compensation in exchange for early termination of the co's distribution agreement with Pernod Ricard's ABSOLUT vodka and other brands. Under the agreement, Pernod Ricard will pay FO $230 mln in pre-tax proceeds, and FO will pay $100 mln to Pernod to acquire the premium Cruzan Rum brand. The agreement will result in the termination as of Oc 1st of the U.S. distribution agreement between Fortune Brands' Beam Global Spirits & Wine business and the U.S. business of V&S Group recently acquired by Pernod. The joint distribution agreement had been scheduled to remain in place through Feb of 2012. Cruzan is the fifth largest rum brand in the U.S. and generated worldwide net sales of approx $50 mln in 2007 on volume of approx 750K cases. |
| 16:34 ET MBT Financial declares a quarterly cash dividend of $0.09 per common share, a 50% reduction from previous dividend |
| 16:31 ET OmniVision Correction We incorrectly reported that OVTI reported 1Q09 EPS of $0.35, when they co actually reported 1Q09 EPS of $0.25 -- $0.03 below the First Call consensus of $0.28. Our original comment has been corrected. |
| 16:30 ET KLA-Tencor appoints Mark P. Dentinger new Chief Financial Officer; President and COO John Kispert to also leave Co announced that Mark P. Dentinger has been appointed chief financial officer (CFO) for the co, reporting directly to Chief Executive Officer, Rick Wallace. Effective September 3, 2008, Dentinger will assume the CFO duties and replace interim CFO John Kispert. Most recently, from February 2005 to April 2008, Dentinger served as executive vice president and CFO for BEA Systems, Inc., until the co was acquired by ORCL. Co also announced that President and Chief Operating Officer John Kispert will be leaving KLAC at the end of calendar year 2008. Kispert's management responsibilities will be assumed by KLAC's Chief Executive Officer, Rick Wallace. |
| 16:30 ET Campbell Soup names B. Craig Owens Chief Financial Officer and Chief Administrative Officer Co announces the appointment of B. Craig Owens as Senior Vice President and CFO and Chief Administrative Officer. His appointment is effective October 6, 2008. |
| 16:18 ET OmniVision misses by $0.03, beats on revs; guides Q2 EPS below consensus, revs below consensus; Peter Leigh to retire as CFO Reports Q1 (Jul) earnings of $0.25 per share, $0.03 worse than the First Call consensus of $0.28; revenues rose 3.1% year/year to $174.3 mln vs the $171.4 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.13-0.25 vs. $0.35 consensus; sees Q2 revs of $160-180 mln vs. $190.86 mln consensus. The co also announces that its chief financial officer, Peter Leigh, has informed the co of his intention to retire, effective September 30, 2008. In conjunction with Mr. Leigh's retirement, the co also announces that it has appointed Anson Chan, OmniVision's vice president of finance, to the position of chief financial officer. |
| 16:17 ET Popular Inc declares cash dividend of $0.08 per common share, which represents a reduction of 50% from its previous dividend payment |
| 16:15 ET Noble Energy: Test results yielded a flow rate of 2,700 barrels per day of oil and 2.7 mln cubic feet per day of natural gas The co announces test results from the Diega oil discovery in Block "I" offshore Equatorial Guinea. As previously reported, the Diega well, which represents the Company's second oil discovery on Block "I", encountered approximately 38 feet of net gas-condensate pay in the primary zone, as well as an additional 30 feet of net gas-condensate pay underlain by 37 feet of net oil pay in a previously untested feature. Testing procedures, which were only performed on the oil reservoir, yielded a flow rate of 2,700 barrels per day (Bpd) of oil and 2.7 million cubic feet per day of natural gas. Performance modeling indicates the development well completions can be designed to achieve production rates of approximately 10,000 Bpd of oil plus associated natural gas. Fluid samples taken during the test indicated similar crude oil characteristics to Benita. The rig has been released from location. |
| 16:15 ET Micros Systems beats by $0.03, beats on revs; guides FY09 EPS in-line, revs in-line Reports Q4 (Jun) earnings of $0.41 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.38; revenues rose 15.8% year/year to $256.6 mln vs the $247.2 mln consensus. Co issues in-line guidance for FY09, sees EPS of $1.53-1.64, excluding non-recurring items, vs. $1.60 consensus; sees FY09 revs of $1.08-1.10 bln vs. $1.08 bln consensus. |
| 16:12 ET SourceForge misses by $0.02, beats on revs Reports Q4 (Jul) loss of $0.03 per share, excluding non-recurring items, $0.02 worse than the First Call consensus of ($0.01); revenues rose 12.6% year/year to $11.3 mln vs the $11.1 mln consensus. |
| 16:12 ET Affymax and Takeda provide clinical development update for Hematide in chemotherapy-induced anemia The cos announce their agreement to suspend co-development of Hematide to treat chemotherapy-induced anemia and to focus all development efforts for Hematide on the treatment of chronic kidney disease related anemia. Takeda and Affymax continue to be encouraged by the potential of bringing Hematide, a convenient, once monthly treatment option, to the millions of chronic kidney disease patients suffering from anemia and believe this represents a significant opportunity for the two companies. |
| 16:11 ET Wind River beats by $0.09; guides Q3 EPS below consensus; issues FY09 guidance Reports Q2 (Jul) earnings of $0.17 per share, excluding non-recurring items, $0.09 better than the First Call consensus of $0.08; revenues rose 8.6% year/year to $91.9 mln vs the $87.8 mln consensus. Co issues downside guidance for Q3, sees EPS of $0.08-0.09 vs. $0.14 consensus; sees Q3 revs of $88-90 mln vs. $94.18 mln consensus. Co issues guidance for FY09, sees EPS of $0.50-0.52 vs. $0.49 consensus; sees FY09 revs of $365-375 mln vs. $372.34 mln consensus. |
| 16:10 ET Dell misses by $0.05, beats on revs Reports Q2 (Jul) earnings of $0.31 per share, $0.05 worse than the First Call consensus of $0.36; revenues rose 11.2% year/year to $16.43 bln vs the $15.95 bln consensus. In the quarter, the company absorbed $27 mln of expense for the amortization of purchased intangibles and $25 mln in business realignment costs. Each expense was worth about $0.01 in earnings per share. The company remains committed to achieving annualized cost reductions of at least $3 bln by the end of fiscal year 2011. Worldwide shipments increased 53 percent and share was up 1.6 points to 9.1 percent. Co reported gross margins 17.2% vs 18.3% First Call consensus, and operating margins 4.9%. "Gross margins in the quarter were adversely affected by actions to drive growth in strategic areas like Global Consumer and EMEA, as well as an increase in deferred revenue from the sale of successful service offerings in EMEA, which will be recognized in subsequent periods... The company sees continued conservatism in IT spending in the U.S., which has extended into Western Europe and several countries in Asia. Demand also is impacted by currency fluctuations. Dell will continue to benefit from improving performance in areas such as emerging countries, notebooks, and enterprise and services, which collectively are driving a more diversified portfolio of geographies and products." |
| 16:10 ET Marvell beats by $0.02, reports revs in-line Reports Q2 (Jul) earnings of $0.24 per share, $0.02 better than the First Call consensus of $0.22; revenues rose 28.4% year/year to $843 mln vs the $836.7 mln consensus. Non-GAAP gross margin for the second quarter of fiscal 2009 was 52.3%, compared to non-GAAP gross margin of 52.0% for the first quarter of fiscal 2009 and non-GAAP gross margin of 49.4% for the second quarter of fiscal 2008. |
| 16:10 ET Aruba Networks beats by $0.01, beats on revs Reports Q4 (Jul) net of breakeven, excluding non-recurring items, $0.01 better than the First Call consensus of ($0.01); revenues rose 15.8% year/year to $48.3 mln vs the $46.5 mln consensus. "The strong sequential revenue growth in our fiscal fourth quarter was driven by increased demand from existing customers and a record number of new customer additions. During the period, we added over 700 new customers and now have over 5,000 cumulative customers. The quarter was notable for the strong performance of our education vertical and broad demand from a very wide range of other customers. Importantly, we have also won new contracts in our retail and government verticals, which gives us increased momentum in these challenging areas as we enter our new fiscal year." |
| 16:09 ET Dollar Financial beats by $0.01, beats on revs; guides FY09 revs above consensus Reports Q4 (Jun) earnings of $0.59 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.58; revenues rose 23.0% year/year to $150.3 mln vs the $136.3 mln consensus. Co issues guidance for FY09, sees EPS of $2.10-2.35, incl items, may not be comparable to $2.48 consensus; sees FY09 revs of $595-625 mln vs. $586.28 mln consensus. |
| 16:08 ET Magma Design beats by $0.03, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY09 EPS below consensus, revs below consensus Reports Q1 (Jun) earnings of $0.02 per share, $0.03 better than the First Call consensus of ($0.01); revenues fell 8.8% year/year to $45.7 mln vs the $44.9 mln consensus. Co issues downside guidance for Q2, sees EPS of ($0.20)-(0.18) vs. $0.07 consensus; sees Q2 revs of $34-35 mln vs. $51.40 mln consensus. Co issues downside guidance for FY09, sees EPS of ($0.19)-($0.15) vs. $0.48 consensus; sees FY09 revs of $158-160 mln vs. $209.87 mln consensus. Magma is changing its business model in that from now on, it intends to achieve a revenue mix whereby 90 percent or more of revenue in a period comes from Magma's backlog and the remainder comes from transactions completed in the period. |
| 16:08 ET Novell beats by $0.01, beats on revs; guides FY08 revs in-line Reports Q3 (Jul) earnings of $0.06 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.05; revenues rose 3.5% year/year to $245 mln vs the $241.4 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $940-970 mln vs. $958.53 mln consensus. Non-GAAP operating margin is expected to be between 8% and 10%, exceeding previously stated guidance of between 7% to 9%. |
| 16:08 ET Force Protection to restate interim consolidated financial statements for first and second quarters 2007 Co announces, as a result of the ongoing review of the co's September 30, 2007 interim and 2007 full year consolidated financial statements, it has concluded that it is necessary to restate its previously reported financial statements for the three month period ended March 31, 2007 and the three and six month periods ended June 30, 2007 and that such financial statements should no longer be relied upon. The co will file a Form 8-K with the SEC with regard to this restatement decision. The co's previously issued consolidated financial statements of the co for the first and second quarters of 2007 filed on Quarterly Reports on Form 10-Q on May 15, 2007 and August 9, 2007, as well as the third quarter of 2007 filed on Form 10-Q on November 13, 2007, should not be relied upon until the restated financial statements are filed with the SEC and the restatement information disclosed therein is fully considered. The co intends to file an Annual Report on Form 10-K for the year ended December 31, 2007 with the SEC on or before September 15, 2008. The co anticipates that its consolidated statement of operations included in its Annual Report on Form 10-K for the year ended December 31, 2007 will report net sales of approx $890 mln, representing an increase of over $694 mln from net sales of $196 mln for the year ended December 31, 2006. The increase in net sales was primarily due to contracts awarded under the United States military's MRAP vehicle program. Although revenues increased in 2007, the co expects that 2007 net income will be significantly lower than the $16.6 mln of net income that the co reported for the year ended December 31, 2006. |
| 16:07 ET Gottschalks reports Q2 loss of $0.33 per share vs. loss of $0.51 single analyst estimate; total sales decreased 7.8% to $133.7 mln |
| 16:06 ET Comstock announces sales of Boid 'Arc Energy to Stone Energy Corporation for $440 mln in cash and 5.3 mln shares of SGY The co announces that its 49% interest in its subsidiary Bois d'Arc Energy (BDE) was acquired by Stone Energy (SGY) pursuant to the previously announced merger between Stone and Bois d'Arc. Comstock received $440 million in cash and 5,317,069 shares of common stock of Stone pursuant to the terms of the merger. Comstock used the cash proceeds to repay amounts outstanding under its bank credit facility. |
| 16:06 ET PETsMART beats by $0.02, beats on revs; guides Q3 EPS in-line; guides FY09 EPS above consensus Reports Q2 (Jul) earnings of $0.30 per share, $0.02 better than the First Call consensus of $0.28; revenues rose 11.2% year/year to $1.24 bln vs the $1.22 bln consensus. Co issues in-line guidance for Q3, sees EPS of $0.25-0.29 vs. $0.27 consensus. Co issues upside guidance for FY09, sees EPS of $1.51-1.59 vs. $1.49 consensus. "We expect current macro trends to continue throughout the year." |
| 16:05 ET Hewlett-Packard obtains judgment against Pelikan in unfair competition suit Co announces that Germany-based Pelikan Hardcopy Deutschland GmbH was found to be in violation of the German law on unfair competition by the Cologne Regional Court, Germany. In a judgment issued in July and finalized earlier this month, the court ordered Pelikan to cease labeling certain newly manufactured inkjet print cartridges as "remanufactured." The newly manufactured Pelikan print cartridges were sold under the Pelikan brand and designated as H06 and H08 color cartridges. These same Pelikan products were the subject of a patent infringement proceeding brought by HP against Pelikan in Germany last year. In August 2007, the Dusseldorf Regional Court in Germany ordered Pelikan to stop importing and distributing these cartridges, following Pelikan's admission of patent infringement. |
| 16:05 ET Delia*s beats by $0.01, reports revs in-line Reports Q2 (Jul) loss of $0.16 per share, $0.01 better than the First Call consensus of ($0.17); revenues rose 10.8% year/year to $58.1 mln vs the $58.0 mln consensus. Co says it is pleased with its progress in Q2. Co is also pleased with its important back-to-school selling period so far, with high single-digit comps in July and continued strength thus far in August. |
| 16:04 ET Sigma Designs beats by $0.07, reports revs in-line Reports Q2 (Jul) earnings of $0.47 per share, excluding non-recurring items, $0.07 better than the First Call consensus of $0.40; revenues rose 36.9% year/year to $58.2 mln vs the $58.7 mln consensus. "We are pleased to report improved gross margins and GAAP net income while achieving our anticipated revenue goal for the second quarter. We continue to maintain a strong presence in the IPTV market, being the market leader for both the Microsoft Mediaroom and Linux-based platforms and pushing for new wins within emerging telco deployments. We are also pushing forward with our consumer products agenda by working with a wide range of vendors for Blu-ray player designs, successfully gaining ground with manufacturers from China and Taiwan. To further these positions, we are in the midst of completing a number of new chipset products that will increase our competitiveness in the marketplace. Moving forward, we are also executing a number of strategic growth initiatives designed to result in future revenue streams. These initiatives include penetration into the HDTV market, the Ultra-wideband (UWB) connectivity market and the cable-based IPTV set-top box market, as well as the growth of our VXP video processor products." |
| 16:04 ET Tierone says it is "well-capitalized" The co says that the Bank has experienced some erosion in asset quality, especially among selected loans in Nevada. In addressing asset quality, the Bank has taken a series of steps including the closing of its nine loan production offices positioned throughout the country, it sold a delinquent Florida loan portfolio, is focused on increasing its market share of loans in the local regional area and has employed additional credit quality lending specialists recruited from some of the nation's largest financial institutions. The co said it is in a "well-capitalized" position, solid core operations and strong franchise network combined with Nebraska's growing and diverse economy has helped mitigate many of the challenges experienced by financial institutions located in other regions of the country. |
| 16:03 ET Esterline Techs beats by $0.04, beats on revs; guides FY08 EPS in-line Reports Q3 (Jul) earnings of $0.68 per share, $0.04 better than the First Call consensus of $0.64; revenues rose 17.1% year/year to $382.1 mln vs the $374.6 mln consensus. Co issues in-line guidance for FY08, sees EPS of $3.50-3.60 vs. $3.58 consensus, up from $3.45-3.55 previously. |
| 16:01 ET Wind River to Acquire MIZI Research for up to $16 mln; expected to be accretive to earnings in FY10 Co announces that it has signed an agreement to acquire MIZI Research, a privately-held company based in Seoul, Korea that focuses on the development of mobile application platforms based on embedded Linux. Under the terms of the agreement, WIND will pay up to $16 mln in cash to acquire substantially all of the outstanding shares of MIZI. The completion of the acquisition is subject to customary closing conditions and is expected to occur in WIND's third fiscal quarter ending Oct 31, 2008. WIND expects that the acquisition will not have a material impact on GAAP and non-GAAP earnings per share in FY09. It is anticipated to be accretive to GAAP and non-GAAP earnings per share in FY10. |
| 16:00 ET Broadcom: Federal Judge finds Qualcomm in contempt of injunction on 3G cellular and push-to-talk products previously found to infringe Broadcom patents The co announces that a federal judge today found QCOM in contempt of an injunction he ordered last December designed to prevent Qualcomm from continued infringement of three Broadcom patents. U.S. District Judge James Selna found that Qualcomm violated the injunction by continuing to use and support infringing WCDMA chips and ordered Qualcomm to immediately cease such use and support. The court further found that Qualcomm violated the injunction by failing to pay royalties to Broadcom on its infringing QChat products. Citing the "egregiousness" of Qualcomm's conduct, the court ordered Qualcomm to pay Broadcom the gross profits Qualcomm has earned on its infringing QChat products. Judge Selna further ordered Qualcomm to pay Broadcom's attorneys fees in connection with the contempt proceedings. Additionally, the Court reserved determination of whether Qualcomm should also be held in contempt for post-injunction offers to sell infringing WCDMA chips pending additional discovery and proceedings. |
| 15:47 ET Earnings Calendar Today after the close look for the following companies to report: ARUN, JRJC, DLIA, DELL, DLLR, ESL, JMBA, LTON, LAVA, MRVL, MCRS, NOVL, OVTI, PETM, SIGM, LNUX, and WIND. Tomorrow before the open look for the following companies to report: VLCCF |
| 15:36 ET Conferences and Shareholder/Analyst Meetings of Interest Events of interest tomorrow, August 29th, include: Financial future & options close early in observance of Labor Day (13:00 ET). |
| 15:21 ET Boeing increases pay and pension in best and final offer to its employees represented by International Association of Machinists and Aerospace Workers Co presents its best and final contract offer to almost 27k employees represented by the International Association of Machinists and Aerospace Workers in Washington, Oregon and Kansas. The contract proposal rewards employees with General Wage Increases of 11% over three years, cost-of-living adjustments, and increasing the pension to an industry-leading $80/month for each year of credited service. The offer also provides a lump-sum payment, a first-vote ratification bonus, an incentive pay plan, and outstanding health insurance at a fraction of the cost most Americans pay. On average, the offer will provide employees with $34k in additional pay over the term of the three-year contract... In addition to improving pay and benefits, Boeing made significant movements during negotiations on issues that remain important to the company but were of concern to the union. These include:Withdrawing a proposal to no longer offer early retiree medical coverage to individuals hired in the future; Withdrawing a proposal to create a new defined-contribution retirement program for individuals hired in the future; Withdrawing a proposal to negotiate a separate contract for Boeing employees in Wichita to better align the company's operations in Kansas with competitors in the military aircraft modification business; Withdrawing proposed changes on facilities maintenance subcontracting. |
| 15:00 ET FLIR Systems announces $11.1 mln modification to service contract from the U.S. Army Co announces that it has been awarded a $11.1 mln modification to a Performance Based Logistics support contract from the U.S. Army Space and Missile Defense Command in Huntsville, Alabama. This contract provides for service, upgrades, and logistics support for certain U.S. Army and USMC programs. The total value of the contract has been increased to $71.6 mln. Including deliveries made so far this year, revenue under this modified contract is expected to be ~$15 mln in 2008. |
| 14:47 ET CBOT Agriculture and Ethanol Closing Prices Sep corn closed lower by 7 1/2 cents to $5.70 per bushel, Sep soybeans closed lower by 15 1/2 cents to $13.32 1/2 per bushel, Sep wheat closed lower by 13 3/4 cents to $7.89 per bushel, Sep Ethanol closed lower by $0.048 to $2.306 per gallon. |
| 14:37 ET NYMEX Energy Closing Metals Oct crude ended the session off $2.55 to $115.60, Oct natural gas closed lower by 56.2 cents to $8.046, Sept heating oil settled down 7.61 cents to $3.1856 and Sept RBOB gasoline finished off 4.62 cents to $3.021. |
| 14:13 ET Westamerica Banc announces up to 2 mln share buyback program |
| 14:11 ET After making session lows at $114.08, crude has managed to rally over $2 off those lows over the past 2 hrs; currently off $1.65 to $16.50 |
| 13:33 ET COMEX Metals Closing Prices Gold ended the day higher by $3 to $837.00, Sept silver closed up 15.5 cents to $13.625, and Sept copper finished off 4 cents to $3.4315. |
| 12:19 ET Barr Pharma receives approval for generic version of razadyne tablets Co announces it received final approval from the FDA to manufacture and market a generic version of Ortho McNeil Janssen's Razadyne (galantamine hydrobromide), 4 mg, 8 mg and 12 mg tablets. The co intends to launch its generic Razadyne tablets product immediately. |
| 11:57 ET Kinder Morgan Prtnrs acquires pipelines from Knight Co announces it has acquired two pipeline systems from Knight, the private entity which owns the general partner of KMP. The purchase includes Knight's one-third interest in the Express-Platte crude oil pipeline systems that run from Alberta to Illinois and a jet fuel pipeline that serves the Vancouver, British Columbia, airport. KMP paid Knight ~2 mln KMP units (~$116 mln) for the assets. |
| 11:50 ET Hi-Tech Pharma files suit to confirm the co's market exclusivity status regarding dorzolamide and timolol ophthalmic solution Co announces it has filed a complaint in the U.S. District Court for the District of Columbia against the FDA requesting a declaratory judgment related to Hi-Tech's Abbreviated New Drug Application for dorzolamide and timolol ophthalmic solution, the generic for Merck's Cosopt. The co seeks confirmation that it is entitled to a 180-day period of market exclusivity as the first applicant to submit an ANDA to the FDA containing a paragraph IV certification challenging the validity of the brand company's patents. Hi-Tech's complaint also seeks issuance of an injunction preventing the FDA from granting final marketing approval to any other ANDA for 180 days after Hi-Tech commences commercial marketing. |
| 11:47 ET European Markets Closing Prices: FTSE: 5587.5 +59.4 +1.1%, DAX: 6418.7 +97.6 +1.5%, CAC: 4461.5 +88.4 +2.0% |
| 11:45 ET Crude continues to sell off, falling sharply to session lows at $114.08; now off $3.74 to $114.41 |
| 11:31 ET American Electric announces it will reaffirm its 2008 ongoing earnings guidance of $3.10 to $3.30 per share at Lehman CEO Energy/Power Conference (Consensus is $3.21) |
| 11:27 ET GS Financial announces resignation of Chief Financial Officer Co announces J. Andrew Bower, Senior Vice President and Chief Financial Officer resigned from his positions effective September 4, 2008. The co has commenced a search for a qualified replacement for the position. In the interim, Stephen Theriot, Vice President and Chief Operations Officer of the Bank, will assume the position of principal financial officer for the Bank and the Company. |
| 11:24 ET Lake Shore Bancorp announces a new buyback program to repurchase up to 135,541 shares or 5% of the co's outstanding common shares |
| 11:17 ET Crude makes new session lows at $117.32; currently off 75 cents to $117.40 |
| 10:25 ET Crude gives back all of its overnight gains to trade into negative territory; now off 10 cents to $118.05 |
| 10:17 ET Lundin Mining is aware of reports of comments attributed to various Democratic Republic of Congo officials; has received no official notification of any change in government attitude Co advises that it is aware of newswire reports of comments attributed to various Democratic Republic of Congo officials regarding the Tenke Project. The Company has received no official notification of any change in government attitude and is investigating. |
| 10:06 ET BlackRock upgraded to 'AA-', 'A-1+' at S&P, after successful integration of investment managers unit S&P raised its ratings on BlackRock, including raising the long-term corporate credit rating to 'AA-' from 'A+'. At the same time, S&P raised the short-term corporate credit rating to 'A-1+' from 'A-1'. The outlook is stable. "The upgrade was based on BlackRock's successful integration of Merrill Lynch Investment Managers. This has transformed BlackRock from a domestic fixed-income shop to a globally diversified asset manager with a good reputation in the market." The upgrade also reflected BlackRock's strong operating performance during this most challenging period, and credit metrics consistent with the 'AA' rating category. |
| 09:50 ET Crude pulls in over a dollar off of highs at $120.50; currently up $1.08 to $119.23 |
| 09:45 ET Joy Global announces the acquisition of Wuxi Shengda for $22.0 mln, ex closing costs Co announces that China Mining Machinery, the co's wholly-owned subsidiary, has entered into a definitive agreement to acquire 100% of the outstanding shares of Wuxi Shengda, a Chinese manufacturer of longwall shearing machines, for $22.0 mln, excluding closing costs. Completion of the transaction is expected to occur during the fourth calendar quarter of 2008. |
| 09:37 ET Manpower's Jefferson Wells acquires the Gelber Organization, a New Jersey-based State and Local Tax consulting firm; terms not disclosed |
| 09:30 ET Capstone Turbine announces shipment of its first C200 production unit ahead of schedule Co announces that it will ship its first C200 production unit today. Originally scheduled for shipment in late September, co was able to deliver this first unit earlier than planned. |
| 09:15 ET S&P futures vs fair value: +8.0. Nasdaq futures vs fair value: +9.0. Stock futures remain improved from earlier levels, continuing to indicate a positive start to trading Thursday. Sentiment improved with better-than-expected GDP data, offsetting the threat of higher oil prices. |
| 09:01 ET China Security and Surveillance signs safe city project framework agreement with Shouguang City worth approx $44 mln Co announces that it has signed a framework agreement valued at approx $44 mln with the government of Shouguang City. The Safe City project entails the installation of security cameras and related equipment for the public areas including street intersections and shopping malls. This project also entails the build out of a secure, city-wide traffic monitoring system for the local traffic police control center. The Company expects to begin realizing revenues from this project in the second half of 2009. |
| 09:00 ET S&P futures vs fair value: +8.3. Nasdaq futures vs fair value: +11.3. Stock futures remain improved from earlier levels and indicate an upward start. Clothing and apparel retailers Genesco (GCO), Coldwater Creek (CWTR), and Men's Wearhouse (MW) all announced better-than-expected earnings results for the latest quarter, excluding extraordinary items. Their respective outlooks, however, were mixed. Genesco issued upside guidance, and Coldwater Creek announced a forecast that is in-line with the consensus forecast. Men's Wearhouse issued downside guidance. Meanwhile, Sears Holdings (SHLD) missed the consensus earnings per share estimate of $0.33, by bringing in just $0.21 per share, excluding reserves. Williams-Sonoma (WSM) bested the consensus earnings per share estimate by $0.01, bringing in $0.08 per share, but it issued downside guidance. |
| 08:33 ET On The Wires Celsion (CLSN) announces that the interim results from its second Phase I liver cancer confirmation study of ThermoDox used in combination with Radio Frequency Ablation for the treatment of patients with primary and metastatic liver cancer will be presented at a Poster Presentation session at the International Liver Cancer Assoc... Deere & Company (DE) announces it plans to further expand manufacturing capacity of its large, high-horsepower tractors -adding to a project announced earlier this year for facilities in Waterloo, Iowa. Deere said the investment will help the company meet its expectations for market demand worldwide in coming years. |
| 08:32 ET S&P futures vs fair value: +5.3. Nasdaq futures vs fair value: +4.5. Stock futures are bouncing higher on news that second quarter GDP has been upwardly revised to reflect growth of 3.3% from the rate of 1.9% indicated in the advance reading last month. Economists, on average, expected the revised number to come in at 2.7%. The personal consumption component was up 1.7%. It was expected to come in at 1.6% after the advance reading of 1.5%. Core personal consumption expenditures increased 2.1%, which is in stride with the rate that was forecast by economists and the advance reading. The GDP price index was 1.2%, which is more than the 1.1% rate that was widely expected and that was also posted initially. Separately, initial jobless claims for the week ending August 23 totaled 425,000, down from the prior week's 435,000 claims and even with the level economists estimated. Continuing claims climbed to 3.423 million from the previous week's 3.359 million continuing claims. The consensus estimate called for continuing claims of 3.39 million. |
| 08:06 ET BioDelivery Services anticipates first half 2009 approval of BEMA fentanyl Co announces receipt of a Complete Response letter from the FDA regarding the it's New Drug Application for BEMA Fentanyl, which will be marketed in the United States as ONSOLIS. The FDA has requested that the co make modifications to the submitted risk management program. All aspects of the review were complete and no deficiencies were noted in chemistry, manufacturing and controls, nonclinical, or clinical efficacy/safety. The co will submit the requested information and anticipates a first half 2009 approval. |
| 08:03 ET Net 1 UEPS Techs announced that it has acquired 80.1% of BGS Smartcard Systems Co announced that it has acquired 80.1% of BGS Smartcard Systems AG, an Austrian private company that provides smart card-based payment systems to banks, enterprises and government authorities in Russia, Ukraine, Uzbekistan, Mongolia, Vietnam, India and Oman. BGS' largest customer is Sberbank, the largest financial institution in Russia, which owns the remaining 19.9% of BGS. In the acquisition, Net1 paid the selling shareholders approximately euros 71.5 mln in cash and issued certain shareholders an aggregate of 40,134 shares of Net1 common stock. |
| 08:03 ET Del Monte reports EPS in-line, misses on revs; reaffirms FY09 EPS guidance, revs guidance Reports Q1 (Jul) loss of $0.04 per share, in-line with the First Call consensus of ($0.04); revenues rose 15.9% year/year to $726.2 mln vs the $747.4 mln consensus. Co reaffirms guidance for FY09, sees EPS at the lower end of previous guidance of $0.58-0.62 vs. $0.58 consensus; sees FY09 revs up 6-8% yr/yr, which equates to approx $3.371-3.434 bln vs. $3.67 bln consensus. |
| 08:03 ET Constellation Energy Ptnrs releases statement regarding Constellation Energy announcement that it intends to sell its upstream gas assets Co releases a statement regarding the announcement by Constellation Energy (CEG) that it intends to sell its upstream gas assets. "We have been informed of Constellation Energy's decision to sell its upstream gas assets," said Stephen Brunner, president and chief executive officer of CEP. "Constellation Energy informed us that they are committed to continuing to provide all the services to the company as agreed to in its Management Services Agreement...We do not expect any immediate impact on our business operations and we remain focused on running the business and executing on our strategic plan. We continue to focus on achieving our 2008 commitments and delivering cash flow stability and future growth to our unitholders." |
| 08:02 ET Netezza beats by $0.02, beats on revs; raises FY09 guidance Reports Q2 (Jul) earnings of $0.05 per share, $0.02 better than the First Call consensus of $0.03; revenues rose 65.5% year/year to $47 mln vs the $40.9 mln consensus. Co raises guidance for FY09, sees FY09 revs of $172-182 mln vs. $172.42 mln consensus. |
| 08:02 ET Net 1 UEPS Techs announces acquisition of BGS Smart Card Systems for 71.5 mln euros The co announces that it has acquired 80.1% of BGS Smartcard Systems. In the acquisition, Net1 paid the selling shareholders approximately euros 71.5 million in cash and issued certain shareholders an aggregate of 40,134 shares of Net1 common stock. |
| 08:01 ET Valeant Pharmaceuticals and GlaxoSmithKline announce worldwide collaboration agreement for Retigabine Co and GlaxoSmithKline (GSK) announces that they have entered into an exclusive worldwide collaboration agreement for the investigational drug retigabine, a first in class neuronal potassium channel opener for treatment of adult epilepsy patients with refractory partial onset seizures. Under the terms of the agreement, Valeant will grant GSK worldwide development and commercialization rights to retigabine, VRX698 and the other back-up compounds from the potassium channel opener discovery program in exchange for an upfront payment of $125 mln to Valeant. Additionally, GSK will pay Valeant up to $545 mln based on the achievement of certain regulatory, development and commercialization milestones and the development of additional indications for retigabine. |
| 08:00 ET S&P futures vs fair value: +0.2. Nasdaq futures vs fair value: -3.0. Stock futures currently indicate a relatively flat start to Thursday's action. Oil futures continue to move higher, approaching $120 per barrel. Oil prices have advanced in recent sessions amid persistent concerns Hurricane Gustav will force a production halt. On the earnings front, retail jewelers Tiffany & Co. (TIF) and Zale Corp. (ZLC) both posted better-than-expected results. Tiffany earned $0.63 per share, besting the consensus of $0.55 per share, while Zale posted a loss of $0.48 per share, which was less severe than the loss of $0.57 per share that analysts forecast. Due at the bottom of the hour is the preliminary second quarter GDP report, which will garner attention from economists seeking revisions to the advanced second quarter GDP report released last month. |
| 07:48 ET Brown-Forman misses by $0.03, reports revs in-line; reaffirms FY09 EPS guidance Reports Q1 (Jul) earnings of $0.86 per share, excluding non-recurring items, $0.03 worse than the First Call consensus of $0.89; revenues rose 6.9% year/year to $790 mln vs the $789.6 mln consensus. Co reaffirms guidance for FY09, sees EPS of $3.73-3.98, excluding the non-cash agave charge, vs. $3.88 consensus. |
| 07:48 ET Fred's reports EPS in-line, beats on revs; guides FY09 EPS above consensus Reports Q2 (Jul) earnings of $0.10 per share, excluding non-recurring items, in-line with the First Call consensus of $0.10; revenues rose 5.3% year/year to $447.1 mln vs the $437.8 mln consensus. Co issues upside guidance for FY09, sees EPS of $0.72-0.76, excluding non-recurring items, vs. $0.71 consensus. "Considering a calendar shift in August that presents no first-of-the-month boost, and with tougher sales comparisons against last year, we anticipate August comparable store sales to be at the lower end of our target range. However, we expect to remain on our financial plan for the third quarter." |
| 07:44 ET Williams-Sonoma beats by $0.01, misses on revs; guides FY09 EPS below consensus Reports Q2 (Jul) earnings of $0.08 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.07; revenues fell 4.6% year/year to $819.6 mln vs the $832.6 mln consensus. Co issues downside guidance for FY09, sees EPS of $1.03-1.15 vs. $1.31 consensus; co sees net revs on a 52-week to 53-week basis to decline in a range of 7.8-9.5%. |
| 07:37 ET Genesco beats by $0.14, reports revs in-line; guides FY09 EPS above consensus Reports Q2 (Jul) earnings of $0.18 per share, excluding non-recurring items, $0.14 better than the First Call consensus of $0.04; revenues rose 7.7% year/year to $353.1 mln vs the $353.3 mln consensus. Co issues upside guidance for FY09, sees EPS of $2.15-2.20 vs. $2.14 consensus. |
| 07:31 ET GigaMedia sells lagacy ISP business, on time gain expected Co announces the sale of its legacy cable and corporate Internet service provider business, consistent with GigaMedia's focus on the high-margin, high-growth online entertainment sector. China Network Systems and its affiliates purchased the consumer cable modem and corporate ISP business from GigaMedia for total consideration of as much as $25 mln, including approximately $20 mln in cash upon closing of the transaction, subject to certain price adjustments, and an additional amount of up to $5 mln upon achievement of certain performance benchmarks during the two-year period following the transaction closing. GigaMedia expects the sale to close shortly, following customary regulatory approvals, and to record a one-time gain of approximately $8 mln as a result of the transaction. |
| 07:31 ET Fleetwood misses by $0.27, misses on revs Reports Q1 (Jul) loss of $0.41 per share, $0.27 worse than the First Call consensus of ($0.14); revenues fell 40.6% year/year to $289.9 mln vs the $342.4 mln consensus. "We have continued to cut costs and improve the responsiveness of our operations. Unfortunately, the rapid and accelerating decline of sales in the motor home industry during the first quarter caused heavy operating losses that were exacerbated by an aggressive discounting environment and downtime at our plants. While the travel trailer division also had a loss quarter, its performance was improved over the prior year. The Housing Group remained profitable despite the challenging environment in that industry... Business conditions are expected to remain challenging at least through our third fiscal quarter, resulting in losses and negative operating cash flows for Fleetwood through that same period." |
| 07:12 ET Tiffany & Co beats by $0.08, beats on revs; guides FY09 EPS in-line Reports Q2 (Jul) earnings of $0.63 per share, $0.08 better than the First Call consensus of $0.55; revenues rose 10.5% year/year to $732.4 mln vs the $720.6 mln consensus. Co issues in-line guidance for FY09, sees EPS of $2.82-2.92, compared to previous guidance of $2.80-2.90, vs. $2.83 consensus. This expectation includes worldwide sales growth of approx 9%, based on continued strong growth in Europe and Asia-Pacific (other than Japan) and a return to growth in comparable U.S. store sales in Q4 due to an easier yr/yr comparison. Co now also expects the full-year operating margin to increase slightly over the prior year. |
| 07:09 ET Layne Christensen beats by $0.16, beats on revs Reports Q2 (Jul) earnings of $0.78 per share, $0.16 better than the First Call consensus of $0.62; revenues rose 23.8% year/year to $269.6 mln vs the $252.6 mln consensus. "Overall, the economy has been getting increasingly difficult and presents a continuing challenge for the Company going forward." |
| 07:09 ET LaBarge beats by $0.01, beats on revs Reports Q4 (Jun) earnings of $0.28 per share, $0.01 better than the First Call consensus of $0.27; revenues rose 19.9% year/year to $77.8 mln vs the $65.5 mln consensus. "Robust order flow, improving operating efficiencies and broad-based strength in the markets we serve contributed to an outstanding 2008 fiscal year for LaBarge. The Company's sales, earnings and bookings reached record highs in fiscal 2008. Fiscal 2008 fourth-quarter sales and earnings also represented new quarterly records for the Company. In addition, improved operating efficiencies and product mix in the current-year periods generated year-over-year gross margin expansion of 150 basis points in the fiscal 2008 fourth quarter and 20 basis points in the full fiscal year. Looking forward, we anticipate fiscal 2009 first-quarter sales and earnings will be up from the comparable period a year earlier. Our current backlog, healthy pipeline of opportunities and diverse mix of business continue to give us confidence in the positive prospects for LaBarge." |
| 07:08 ET Zale beats by $0.09, beats on revs; guides FY09 EPS above consensus Reports Q4 (Jul) loss of $0.48 per share, excluding non-recurring items, $0.09 better than the First Call consensus of ($0.57); revenues rose 6.1% year/year to $456.2 mln vs the $448.9 mln consensus. Co issues upside guidance for FY09, sees EPS of $1.10-1.25 vs. $0.90 consensus. |
| 07:06 ET Energy Conversion beats by $0.08, beats on revs; guides Q1 revs above consensus; guides FY09 revs above consensus Reports Q4 (Jun) earnings of $0.24 per share, $0.08 better than the First Call consensus of $0.16; revenues rose 128.9% year/year to $82.4 mln vs the $77.5 mln consensus. Co issues upside guidance for Q1, sees Q1 revs of $95-98 mln vs. $87.86 mln consensus. Co issues upside guidance for FY09, sees FY09 revs of $455-485 mln vs. $443.06 mln consensus. Co also says first quarter gross margin is expected to be about 31%, and between 33 and 35 percent for the second half of the fiscal year. Restructuring costs are expected to be between $1.7 and $2.0 mlnfor the first quarter and $2.5 to $3.0 mln for fiscal 2009. Preproduction costs are expected to be between $1.5 and $1.9 mlnfor the first quarter and between $7.0 and $9.0 mln for fiscal 2009. |
| 07:05 ET Stewart Info announces J. Allen Berryman as CFO Co announces that J. Allen Berryman has been appointed executive vice president, chief financial officer and secretary-treasurer of the company. Berryman will replace Max Crisp who will step down from these positions at Stewart effective Sept. 2, 2008. |
| 07:05 ET Kirklands beats by $0.08, beats on revs Reports Q2 (Jul) loss of $0.09 per share, $0.08 better than the First Call consensus of ($0.17); revenues rose 0.3% year/year to $87.7 mln vs the $84.4 mln consensus. "Our plan for fiscal 2008 is to produce year-over-year improvement in financial performance each quarter and leverage our lower cost structure. We remain solidly on track with that plan. Inventories are on plan and exceptionally clean as we head into the third quarter. Our liquidity position is very strong as we continue to fund our inventory purchases from operations and have yet to borrow from our credit line." |
| 07:04 ET Pro-Pharamceutical says FDA Grants IND for its Davanat to treat breast cancer patient Co announces that the FDA has granted an Investigational New Drug application for use of DAVANAT in combination with 5-FU to treat a breast cancer patient at the Brown Cancer Center in Louisville, Kentucky. DAVANAT also is being administered in Phase II clinical trials for first-line treatment of colorectal and biliary cancer patients. |
| 07:04 ET DSW beats by $0.15, reports revs in-line; reaffirms FY09 EPS guidance Reports Q2 (Jul) earnings of $0.25 per share, $0.15 better than the First Call consensus of $0.10; revenues rose 2.4% year/year to $357.2 mln vs the $355.8 mln consensus. Co reaffirms guidance for FY09, sees EPS of $0.75-0.85 vs. $0.77 consensus; reaffirms annual same store sales in the negative mid-single digits. |
| 07:03 ET Swift Energy to acquire South Texas properties for $47 mln Co announces that it has signed an agreement to purchase from Crimson Energy Partners, a privately held company, oil and natural gas interests in Dimmit County in South Texas for $47 mln. The interests in Crimson's Briscoe "A" lease and wells are located on 5,140 acres adjacent to existing Swift Energy production in its Cotulla area. The acquisition is expected to close within 30 days, with an effective date of May 1, 2008. The total acquisition purchase price is subject to typical post-closing adjustments. |
| 07:03 ET Conns beats by $0.09, reports revs in-line Reports Q2 (Jul) earnings of $0.45 per share, including fair value impact, $0.09 better than the First Call consensus of $0.36; revenues rose 7.4% year/year to $218.5 mln vs the $216.8 mln consensus. Co issues guidance for FY09, sees EPS of $1.80-1.90, compared to previous guidance of $1.76-1.86, may not be comparable to $1.68 consensus. |
| 07:01 ET Enterprise Prdcts announces agreements and pipeline expansion in Barnett Shale area of North Texas Co announces that its affiliates have signed new long-term agreements with major producers in the Barnett Shale region that will utilize approximately 900 mln cubic feet per day of capacity on the partnership's 1.1 bln cubic feet per day Sherman Extension natural gas pipeline. The partnership also announced that it will construct a pipeline that will transport new supplies of natural gas produced from the Barnett Shale in Tarrant and Denton Counties, Texas to the Sherman Extension pipeline. |
| 06:21 ET European Markets FTSE...5543.90...+18.50...+0.3%. DAX...6318.25...-2.78...-0.0%. |
| 06:21 ET S&P futures vs fair value: +0.1. Nasdaq futures vs fair value: -1.0. |
| 06:08 ET Sears Hldg misses by $0.12, reports revs in-line Reports Q2 (Jul) earnings of $0.21 per share, excluding reserve, $0.12 worse than the First Call consensus of $0.33; revenues fell 4.1% year/year to $11.76 bln vs the $11.71 bln consensus. Comparable store sales declined 6.7% while Kmart's comparable store sales declined 5.6%. Total domestic comparable store sales declined 6.2%. |
| 06:04 ET On The Wires Adaptec (ADPT) announces it has signed a definitive agreement to acquire privately-held Aristos Logic, a provider of industry-leading RAID solutions, in a cash transaction for a total consideration of approx $41.0 mln. |
| 01:41 ET Chunghwa Telecom reports Q208 results Co reports total consolidated revenue decreased by 0.6% to NT$50.0 bln. Internet and data revenue grew by 0.8%; ADSL & FTTB revenue decreased by 0.7%. Mobile revenue decreased by 2.7%; Mobile VAS revenue increased by 28.3%. Net income totaled NT$12.5 bln, an increase of 0.1%. Basic EPS increased by 12.0% to NT$1.31. |
| 00:05 ET Aladdin Knowledge Systems rejects Vector Capital's unsolicited proposal Co announces that its Board of Directors, after a review with the assistance of its financial and legal advisors, has determined that the unsolicited proposal from affiliates of Vector Capital to acquire all of the outstanding ordinary shares of the co for $13.00 per share in cash significantly undervalues the co. The Board has also evaluated Vector Capital's alternative proposal to acquire Aladdin's Digital Rights Management business for $125 mln to $135 mln and has determined that this proposal is also not in the best interest of the shareholders. |
| 00:00 ET On The Wires Precision Castparts (PCP) agrees to acquire Airdrome Holdings, LLC, which consists of Airdrome Precision Components and AF Aerospace; acquisition of Airdrome will be immediately accretive to EPS with financial terms not disclosed. |
| 18:42 ET FuelCell Energy misses by $0.12, beats on revs Reports Q3 (Jul) loss of $0.39 per share, $0.12 worse than the First Call consensus of ($0.27); revenues rose 106.7% year/year to $27.9 mln vs the $21.1 mln consensus. |
