4:10PM Trex Company announces refinancing of revolving credit facility (TWP) 17.25 +0.14 : Co announced that it has successfully refinanced its revolving credit facility. The new $85 mln facility matures on December 31, 2011 and can be extended to December 31, 2012 if certain conditions are met. There has been no borrowing on the new line. As part of the refinancing process, the company paid off its existing real estate loans with BB&T Company in the amount of ~$5 mln with available cash.

4:07PM Conferences and Shareholder/Analyst Meetings of Interest : Some notable events scheduled for the week of Nov 9 -- Nov 13 are listed below. For a complete list of next week's events, please see the events calendar.

Monday:
- CSCO Collaboration Summit 2009
- HXL, NCIT at Stifel, Nicolaus & Company Aerospace/Defense/Airline Conference
- 3-month and 6-month Treasury Bill Auctions

Tuesday:
- BAC, GS, MS, TD at Bank of America Merrill Lynch Banking and Financial Services Conference
- ADBE, NFLX, YHOO, RHT at Piper Jaffray Global Internet Summit
- $25 bln 10-yr Treasury Note Auction

Wednesday:
- K Analyst Day
- AMD Analyst Day
- GR, TNB, NSC, UNP at Citi Industrial Manufacturing & Transportation Conference

Thursday:
- CSX, DHR, GE, CAT at Citi Industrial Manufacturing & Transportation Conference
- BPI, COCO, LRN, CPLA at Signal Hill Education Preview Investor Conference
- $16 bln 30-yr Treasury Bond Auction

Friday:
- WMGI, DNDN, POZN, LLY Credit Suisse Healthcare Conference
- Fed's Evans; France's Governor Noyer

3:41PM Earnings Preview for the week of Nov 9th-13th : Of the hundreds of companies reporting earnings the week Nov 9th-13th some of the bigger names include: Monday: GIB, CFSG, DISH, SATS, FUQI, NOOF, SEPR, DIVX, FLR, SOLR, FRPT, LGF, and SQNM... Tuesday: BZH, DSX, JASO, TYC, HOGS, AONE, STV, CLWR, and WTW... Wednesday: CAE, M, AMAT, CTFO, CTRP, DNDN, GMCR, and TTEK... Thursday: BPHX, BRKS, ECA, GSOL, KSS, URBN, WMT, BBI, CPA, DAR, MDSO, JWN, and DIS... Friday: ANF, A, JCP, TK, and YGE.

3:09PM GAMCO Investors Board declares special cash dividend of $2.00 per share and Q4 dividend of $0.03 per share (GBL) 46.00 +0.56 :  

2:52PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : December corn closed lower by 9.25 cents to $3.6725 per bushel, January soybeans closed lower by 14.5 cents to $9.575 per bushel, December wheat closed lower by 14.75 cents at $4.975 per bushel, December Ethanol closed lower by $0.015 to $1.85 per gallon, March world sugar futures closed lower by 0.33 cents at 22.43 cents per pound.

2:31PM Starbucks breaks to fresh gap up highs as it elevates modestly above its Sep-Oct range/52-wk high of 21.11 (SBUX) 21.19 +1.49 :  

2:01PM Roper Inds announces two acquisitions to enhance growth in medical and toll & traffic businesses (ROP) 5176 -0.37 : Co announces it has signed a definitive agreement to acquire Verathon, a provider of proprietary medical devices. Roper also announced it has acquired the assets of United Toll Services. Headquartered in Montgomery, Alabama, UTS provides software and in-lane hardware systems for toll and traffic solutions. The total investment for these transactions will be approximately $356 million. The company expects these two transactions will add more than $140 million to 2010 revenue with at least $38 million of EBITDA.

1:32PM COMEX Metals Closing Prices (COMDX) : Gold finished the session higher by $6.70 to $1096.00, silver shed 3.5 cents to end at $17.375, and copper closed off 0.3 cents to $2.954 (all Dec contracts).

1:30PM Applied Materials acquires the assets of Advent Solar (AMAT) 12.41 +0.01 : Co announces it has acquired substantially all the assets, including the intellectual property, of Advent Solar for an undisclosed cash amount. Advent Solar is a developer of advanced technology for crystalline silicon (c-Si) PVs. This acquisition is expected to complement Applied's portfolio of solar PV technologies and enhance its leadership in the c-Si equipment market.

12:46PM Rumor Roundup : With regard to market rumors, today closes out the week on a quiet note. To recap this morning's chatter, we note that a rumor circulated suggesting Proctor & Gamble (PG) could be interested in Clorox (CLX). We'd note that yesterday it was rumored that PG was interested in NWL. It was also rumored that Google (GOOG) could be interested in Akamai (AKAM), we note the stock has not reacted positively to the renewed speculation, but options volume is elevated in AKAM. As mentioned before, while many rumors circulate during the day, and the validity of the source of these rumors can be questionable, the speculation may increase volatility in the near term.

12:09PM Cracker Barrel announces amendment of credit agreement (CBRL) 33.57 -0.25 : Co announced that it has entered into an amendment to its existing credit facilities. The amendment extends the availability of $165 million of the $250 million currently available under the Company's revolving credit facility to January 2013 from April 2011. The maturity of $250 million of its existing $643 million term loans was extended by three years to April 2016. The current interest rates on the term loans are Libor + 150 bps on the non-extended portion and Libor + 250 bps on the extended portion.

12:04PM Ameren reduces staff by 300 positions (AEE) 24.77 +0.02 :  

11:36AM Airlines starting to display some relative strength here as crude continues to head lower -- CAL, UAUA, ALK, AMR, CPA. JBLU, LUV, SKYW (CAL) :  

11:32AM Warren Resources announces new hedges and updates hedge position (WRES) 2.30 -0.03 : The co announces that it has expanded its commodity hedge program by entering into a zero cost collar on 1,000 barrels of crude oil per day for all of 2010. Under the terms of this transaction, the Company places a floor of $65.00 per barrel and a ceiling of $106.50 per barrel. The costless collar is used to establish a floor price by purchasing a put and a ceiling price by selling a call on anticipated future crude oil production.

11:30AM FedEx pushes higher intraday as it elevates up into fresh 8-day high territory back above the 76.00 area (FDX) 76.31 +1.31 :  

11:16AM Starbucks hovering near session high at 20.80 (SBUX) 20.78 +1.08 : Highlighted the test of its week long range top at 19.71 yesterday with today's extension of the breakout on earnings leaving the stock slightly under its 52-wk close high from Oct at 20.94 (also Sep high). The 52-wk intraday high from Oct comes into play thereafter at 21.11.

11:06AM NVIDIA extends its gap up open higher intraday as it comes into its 50-day ema at 13.40 (NVDA) 13.31 +1.05 :  

10:36AM Crude oil puts in fresh lows at $77.10; now down $2.40 to $77.22 (COMDX) :  

10:33AM EMS Tech announces it is initiating share repurchases under its previously announced authorization to purchase shares costing up to an aggregate of $20 mln (ELMG) 19.41 -0.05 :  

10:32AM Crude oil retraces its bounce and is looking to test session lows at $77.30; now down $2.09 to $77.53 (COMDX) :  

10:27AM U.S. Oil Fund ETF gives up its initial gap down lift as it sinks to fresh lows near its 20-day ema at 39.70 (USO) 39.66 -1.16 : Would note that the recent reaction low is below at 39.20.

10:02AM Arch Capital announces additional $1 bln share repurchase authorization (ACGL) 68.71 +0.77 : Co announces that its Board of Directors authorized the Company to invest up to an additional $1 bln in the Co's common shares. This authorization is in addition to the $350.1 mln available at September 30, 2009 under the Board's previous share repurchase authorizations. Repurchases under the new authorization may be effected from time to time in open market or privately negotiated transactions through December 31, 2011.

10:01AM Coinstar continues its early morning gap down aggressive sell off as it nears a test of the 26.00 support area below (CSTR) 26.71 -5.22 :  

10:01AM Transact Tech announces its Epic 950 printer was selected exclusively by Spielo Manufacturing (TACT) 6.68 -0.10 : Co announces its Epic 950 printer was selected exclusively by Spielo Manufacturing, a wholly-owned subsidiary of Lottomatica Group S. p. A., to be installed in all of its new Comma 6b server-based video lottery terminals in Italy. Approximately $1 million of printers will ship in 2009 -- most in the fourth quarter of 2009 -- and a projected additional $2 million are expected to ship throughout 2010, with the printers being installed inside SPIELO's VLTs to be shipped to Lottomatica and other Italian VLT concessionaires.

9:55AM Caraco Pharma markets generic Acular Opthalmic Solution (CPD) 4.00 +0.15 : Co announces it has launched ketorolac tromethamine ophthalmic solution, 0.5% following a final approval from the FDA for Sun Pharma's Abbreviated New Drug Application for generic Acular opthalmic solution on the first day following patent expiration.

9:50AM Reminder: Wholesale Inventories data due out in about 10 min at 10:00ET (ECONX) :  

9:44AM Gold breaks through the $1100 level to put in new all time highs at $1101, as the dollar pulls back; now higher by $11.00 to $1100.30 (COMDX) :  

9:41AM Mkt Vctrs Gold Miners displays relative strength off the open as they stage a strong opening rise higher -- AEM, GG, GFI, RGLD, GOLD, AUY, KGC, NEM, ABX (GDX) 47.73 +1.02 :  

9:10AM AU Optronics reports Oct. 2009 consolidated revs of NT$39.6 bln, up 45.3% y/y (AUO) 9.31 :  

9:02AM AerCap beats by $0.02, misses on revs (AER) 8.90 : Reports Q3 (Sep) earnings of $0.42 per share, $0.02 better than the First Call consensus of $0.40; revenues fell 29.6% year/year to $212.5 mln vs the $274.8 mln consensus. The decrease was mainly due to lower aircraft sales revenue and lower maintenance revenue, partially offset by higher basic lease revenue.

9:01AM Oncolytics Biotech collaborators present "positive Phase II Sarcoma trial results" at CTOS Annual Meeting (ONCY) 3.30 : Co announces updated results from a Phase II study of intravenous REOLYSIN in patients with sarcomas metastatic to the lung in a poster presentation at the 15th Annual Connective Tissue Oncology Society Meeting. The investigators reported that the treatment has been well tolerated to date, and that 19 of 44 evaluable patients experienced stable disease ranging from two to 20 months, resulting in a total clinical benefit rate (complete response + partial response + stable disease) of 43%. The response objective for the study was three or more patients having prolonged stabilization of disease (greater than 6 months) or better, for the agent to be considered. The trial exceeded its established objective with six patients experiencing stable disease for more than six months. Two patients have experienced stable disease for more than 19 months. One has synovial cell sarcoma that relapsed following surgery, while the other has Ewing's Sarcoma and had previously progressed following multiple treatments. "We were very happy to participate in the study," said Dr. Mita. "REOLYSIN is a promising option for patients with sarcoma as shown by the results of this study. As a single agent the virus had a clinical benefit rate of 43% and it was very well tolerated. Further studies combining REOLYSIN with chemotherapy are contemplated in order to integrate the virus in the panoply of agents used for sarcoma treatment."

9:00AM eBay and Silver Lake Investor Group settle Skype litigation with Joltid (EBAY) 23.24 : EBAY announces that the investor group led by Silver Lake, which had previously entered into a definitive agreement to acquire a majority stake in Skype from the company, has reached a settlement agreement with Joltid Limited and Joost that gives Skype ownership over all software previously licensed from Joltid and ends all litigation currently pending against the investor group and eBay at the closing of the acquisition. As part of the settlement agreement, Joltid and Skype founders Niklas Zennstrom and Janus Friis will join the investor group, contributing Joltid software and making a significant capital investment in exchange for a 14% stake in Skype. As a result, Silver Lake and other investors including Andreessen Horowitz and the Canada Pension Plan Investment Board, will together hold 56% of Skype and eBay will retain 30%. As previously announced, eBay will receive approximately $1.9 bln in cash upon the completion of the sale and a note from the buyer in the principal amount of $125 mln. The deal, which values Skype at $2.75 bln and is not subject to a financing condition, is expected to close in the fourth quarter of 2009.

8:51AM Gold and silver quickly reverse their respective moves to the upside to give back overnight gains; gold now off $1.20 to $1088 and silver is lower by 7 cents to $17.34 (COMDX) : Crude oil has also dropped to its lowest levels and is now lower by $2.20 to $77.42.

8:47AM MKM Partners Car Rental cos; initiates CAR and DTG with a Buy and HTZ with a Neutral : MKM Partners initiates CAR and DTG with a Buy and establishes tgts of $18 and $33, respectively. In addition, the firm initiates HTZ with a Neutral and sets a $13 tgt. For CAR, the firm believes the co is at the start of a three stage earnings recovery as the current strong leisure pricing environment continues into 2010, corporate travel volumes first stabilize and then recover due to GDP growth and easier year/year comps. Meanwhile for DTG, the firm believes that current strong leisure pricing can continue into 2010 due to tight-industry fleeting and stabilizing demand. The firm notes that DTG is a leisure travel pure-play and the most levered to stronger leisure pricing. The firm notes that structural changes in the industry, such as consolidation and independence from the US auto OEMs, as well as increased financing and collateral requirements, in the firm's view, will combine to restrict vehicle inventories. However, this should drive stronger pricing for leisure rentals which react more quickly to changes in demand/supply. Finally for HTZ, the firm believes the co 's diverse revenue streams capture current strong leisure pricing, position the company for a rebound in corporate travel and enable Hertz to benefit from international growth opportunities and a weaker U.S. dollar.

8:47AM Threshold Pharma presents interim data from a Phase 1/2 clinical trial of TH-302; twelve patients have had at least one evaluable post-treatment tumor assessment (THLD) 2.66 : Co announces clinical trial results related to it's clinical stage hypoxia-activated prodrug, TH-302. Today's presentation focused on a clinical trial, the 403 trial, which is investigating TH-302 in combination with doxorubicin in patients with soft tissue sarcoma who have not received prior doxorubicin. Twelve patients have had at least one evaluable post-treatment tumor assessment, including 3 (25%) with a partial response as measured by RECIST. Two of the P.R.s are confirmed, including one patient who has remained on study for 33 weeks. One of the PRs was unconfirmed due to progression at the subsequent assessment. Five of the 12 patients continue to receive TH-302 after receiving TH-302 for 3 to 13 three-week cycles. Seven (58%) patients achieved stable disease while 2 (17%) had progressive disease. Additional patients are being enrolled to better define the extent of the tumor response activity. TH-302 continues to be tolerated and there have been no new unexpected adverse events in the 14 patients assessed for safety.

8:41AM Crude oil is trading at its worst levels of the morning, following the release of the jobs data; at $78.35; now off $1.20 to $78.42 (COMDX) : Despite the fact that the dollar is moving higher following this econ data, gold has spiked to a new all time high at $1098.60; currently higher by $8.80 to $1098.20.

8:38AM Boston Scientific announces agreement with DOJ on pre-acquisition investigation of Guidant; reaffirms FY09 EPS of $0.75-$0.79 vs $0.51 consensus (BSX) 8.05 : Co announces that it has reached an agreement in principle with the U.S. Department of Justice related to product advisories issued by its Guidant subsidiary in 2005. The alleged conduct and product sales occurred prior to Boston Scientific's 2006 acquisition of Guidant. Boston Scientific had previously disclosed an investigation by the U.S. Attorney's Office in Minneapolis into alleged violations of the Food, Drug, and Cosmetic Act by Guidant. Under the terms of the agreement, Guidant will plead to two misdemeanor charges related to failure to include information in reports to the FDA, and Boston Scientific will pay $296 million on behalf of Guidant... Accordingly, the co has updated its financial results for the third quarter and nine months ended Sept 30, 2009, recording a third quarter charge of $294 mln, on both a pre-tax and after-tax basis. This amount represents the $296 mln charge associated with the agreement net of a $2 million reversal of a related accrual... The Company continues to expect FY09 adjusted earnings of $0.75-$0.79 vs $0.51 consensus

8:37AM Blackstone beats by $0.10, beats on revs (BX) 13.87 : Reports Q3 (Sep) earnings of $0.25 per share, $0.10 better than the First Call consensus of $0.15. BX reports revenues of $603 mln compared to First Call consensus of $450 mln; The fair value of the Real Estate portfolio depreciated by 0.4% in the third quarter of 2009, versus 10% in the third quarter of 2008. The Blackstone Group L.P. has declared a quarterly distribution of $0.30 per common unit to record holders of common units at the close of business on November 30, 2009.

8:36AM Bronco Drilling misses by $0.04, misses on revs (BRNC) 6.15 : Reports Q3 (Sep) loss of $0.37 per share, excluding non-recurring items, $0.04 worse than the First Call consensus of ($0.33); revenues fell 41.1% year/year to $16.2 mln vs the $18.2 mln consensus.

8:34AM Edison beats by $0.05, misses on revs; guides FY09 EPS in-line (EIX) 32.18 : Reports Q3 (Sep) earnings of $1.09 per share, $0.05 better than the First Call consensus of $1.04; revenues fell 14.7% year/year to $3.66 bln vs the $3.76 bln consensus. Co issues narrowed in-line guidance for FY09, sees EPS of $2.95-3.15 vs. $3.02 consensus, previous guidance was $2.90-3.20. The decline is largely attributable to lower earnings at Edison Mission Group (EMG), partially offset by higher operating results at Southern California Edison (SCE).

8:34AM LMI Aerospace misses by $0.04, misses on revs (LMIA) 11.37 : Reports Q3 (Sep) earnings of $0.25 per share, $0.04 worse than the First Call consensus of $0.29; revenues fell 5.2% year/year to $58.7 mln vs the $62.8 mln consensus.

8:33AM National Retail Properties reports EPS in-line, beats on revs; guides FY10 FFO below consensus (NNN) 19.75 : Reports Q3 (Sep) funds from operations of $0.39 per share, in-line with the First Call consensus of $0.39; revenues fell 2.5% year/year to $57 mln vs the $55.9 mln consensus. Co issues downside guidance for FY10, sees FFO of $1.51-1.58 vs. $1.65 consensus.

8:32AM NuVasive appoints Michael J. Lambert as new Chief Financial Officer (NUVA) 37.39 : Co announces the appointment of Michael J. Lambert as Executive Vice President and Chief Financial Officer, effective November 9, 2009.

8:18AM Reminder: Jobs reports due out in about 12 min at 8:30ET (ECONX) :  

8:17AM Freightcar America misses by $0.13, misses on revs (RAIL) 25.60 : Reports Q3 (Sep) earnings of $0.09 per share, $0.13 worse than the First Call consensus of $0.22; revenues fell 76.8% year/year to $55.1 mln vs the $78 mln consensus. There were no net orders for new railcars in the third quarter of 2009, compared to 694 units ordered in the second quarter of 2009, and 2,329 units ordered in the third quarter of 2008. Railcar deliveries totaled 695 units in the third quarter, compared to 1,207 units delivered in the second quarter of 2009 and 3,082 units delivered in the third quarter of 2008. Total backlog of unfilled orders was 777 units at the end of the third quarter, compared with 1,472 units at the end of the second quarter of 2009 and 4401 units at the end of the third quarter of 2008. "The decline in order activity in the quarter illustrates that the market for new railcars remains very challenging. However, I believe we are performing well in a difficult environment."

8:17AM GOL Linhas Areas Inteligentes announces preliminary traffic figures for October 2009 (GOL) 11.40 : Co announces demand growth in the domestic market of 46.9% over the same month last year, chiefly due to positioning in that market, with high-frequency flights between airports in densely populated cities and dynamic yield management, underpinned by high- quality service, punctuality and regularity. In addition, the month's figures were still reflecting the upturn in demand triggered by the exceptionally competitive scenario in September and the first ten days of October. Domestic demand climbed by 14.1% over September 2009, or 10.4% if the number of calendar days in each month are equalized.

8:11AM On The Wires : Halliburton (HAL) announces that it has been awarded the integrated turnkey drilling contract in South Ghawar. Located approximately 200 kilometers from the city of Dhahran, the Ghawar field is the world's largest oil field and the contract would involve work in Uthmaniyah, Haradh, Hawiyah and Shedgum. The five-year contract, with an option for an additional five-year period, calls for the provision of drilling rigs, directional and horizontal drilling, logging while drilling, cementing, mud engineering, wireline logging, completion, perforating, and other well construction activities, including engineering and management of the entire drilling operations... CSC (CSC) announces that it has signed a contract for a range of IT services for Raytheon Company (RTN). The contract has a five-year base period with two one-year options, and runs through February 2015. Additional terms of the contract were not disclosed... Charles & Colvard (CTHR) announces that it has signed a new and expanded distribution agreement with Stuller. Under the terms of the agreement, Stuller has the right to sell Charles & Colvard Created Moissanite as either a loose jewel or in manufactured jewelry in North America through December 31, 2010.

8:06AM XOMA Limited expands development strategy for XOMA 052 to include cardiovascular diseases (XOMA) 0.74 : Co announces the expansion of its development strategy for its XOMA 052 antibody to interleukin-1 beta to include effects on cholesterol lowering, reducing plaque deposits and damage to heart muscle and resulting long-term effects that can lead to heart attack, stroke and congestive heart failure. The strategy is supported by results from XOMA 052 Phase 1 trials demonstrating improvement in biomarkers associated with cardiovascular risk, ongoing clinical trials in cardiovascular disease with other IL-1 targeted agents, animal studies with XOMA 052 that have demonstrated significant reductions in plaque formation and improvements in lipid levels, and positive results with another IL-1 targeted agent in an animal model of cardiac remodeling after heart attack. XOMA's current XOMA 052 program is focused on Type 2 diabetes and this expansion represents an enormous increase in the number of patients who could be helped by this general anti-inflammatory approach.

8:04AM Spectra Energy LP beats by $0.05, beats on revs (SEP) 26.25 : Reports Q3 (Sep) earnings of $0.48 per share, $0.05 better than the First Call consensus of $0.43; revenues rose 68.8% year/year to $49.8 mln vs the $45.2 mln consensus.

8:04AM LogMeIn files registration statement for proposed public offering of 3,000,000 shares of common stock (LOGM) 20.02 : Co announces that it has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed offering of 3,000,000 shares of common stock, of which up to 100,000 are expected to be offered by the Company and 2,900,000 are expected to be offered by selling stockholders. LogMeIn will not receive any proceeds from the expected sale of the shares offered by the selling stockholders.

8:03AM Novavax reports Q3 loss per share of $0.08, beats consensus by $0.01 (NVAX) 4.03 : Reports Q3 (Sep) loss of $0.08 per share, $0.01 better than the First Call consensus of ($0.09). Reports revenue of $201K vs $194K year ago. Co states, "We are continuing to make rapid progress with each of our vaccine development programs which are targeting some of the world's most pressing public health problems. Our partnerships in the United States, Spain, Mexico and India are accelerating the development of our VLP based 2009 H1N1 pandemic influenza and seasonal influenza vaccines and enabling us to prepare for their commercial-scale production. In addition, we recently selected a vaccine candidate against Respiratory Syncytial Virus, the most common cause of lower respiratory tract infection in infants and young adults. Our achievements to date reflect the clinical and commercial potential of our technology and the successful execution of our product development strategies."

8:03AM Knology misses by $0.02, misses on revs (KNOL) 10.52 : Reports Q3 (Sep) earnings of $0.05 per share, $0.02 worse than the First Call consensus of $0.07; revenues rose 2.5% year/year to $105.8 mln vs the $107.5 mln consensus. Subsequent to quarter end, Knology executed a definitive agreement to acquire the assets of Private Cable, a provider of video, voice and data services to residential and business customers in Athens and Decatur, Alabama for $7.5 million cash, to be funded from Knology's cash on hand. The transaction is expected to close during the fourth quarter of 2009.

8:02AM PriceSmart beats by $0.05, reports revs in-line (PSMT) 19.98 : Reports Q4 (Aug) earnings of $0.35 per share, $0.05 better than the First Call consensus of $0.30; revenues rose 4.5% year/year to $305.1 mln vs the $307.2 mln consensus. PriceSmart also announced that for the month of October 2009, net sales increased 4.9% to $104.1 million from $99.3 million in October a year earlier. For the two months ended October 31, 2009, net sales increased 3.7% to $200.0 million from $192.9 million in the same period last year. There were 26 warehouse clubs in operation at the end of October 2009, compared to 25 warehouse clubs in operation in October 2008. For the four weeks ended October 25, 2009, comparable warehouse sales for warehouse clubs open at least 12 full months decreased 0.3% compared to the same four-week period last year. For the eight-week period ended October 25, 2009, comparable warehouse sales decreased 0.7% compared to the comparable eight week period a year ago.

8:02AM Fushi Intl reports EPS in-line, misses on revs; guides Q4 EPS in-line (FSIN) 6.90 : Reports Q3 (Sep) earnings of $0.26 per share, excluding non-recurring items, in-line with the First Call consensus of $0.26; revenues fell 25.3% year/year to $47.7 mln vs the $55.4 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.26-0.30, excluding non-recurring items, vs. $0.29 consensus.

7:58AM PMI Group reports Q3 EPS of ($1.06) vs ($1.36) First Call consensus; revs rose 1% YoY to $226.9 mln vs $198.66 mln First Call consensus (PMI) 2.23 : The loss from continuing operations for the third quarter of 2009 was primarily driven by losses and loss adjustment expenses (LAE) in U.S. Mortgage Insurance Operations, decreases in U.S. Mortgage Insurance Operations' premiums earned and investment income, and the change of the fair value of certain holding company senior debt.

7:37AM American Intl trades down 9% in early trading following Q3 earnings... stock is now down 4 pts at 35.30 (AIG) 39.28 :  

7:35AM Scripps Networks Interactive beats by $0.03, reports revs in-line (SNI) 39.23 : Reports Q3 (Sep) earnings of $0.39 per share, $0.03 better than the First Call consensus of $0.36; revenues rose 0.1% year/year to $364.5 mln vs the $365.6 mln consensus. Total revenue from the company's portfolio of Lifestyle Media television networks, Web sites and other related businesses was up 4.3 percent for the period compared with last year. Results for the three-month period ended Sept. 30 reflect strong affiliate fee revenue growth and improved advertising sales at the company's flagship cable television networks, Food Network and HGTV.

7:34AM Dril-Quip beats by $0.05, beats on revs; guides Q4 EPS in-line (DRQ) 52.57 : Reports Q3 (Sep) earnings of $0.72 per share, excluding non-recurring items, $0.05 better than the First Call consensus of $0.67; revenues rose 4.5% year/year to $138.2 mln vs the $136.1 mln consensus. Co says that its backlog at September 30, 2009 was approximately $623 mln. Co issues in-line guidance for Q4, sees EPS of $0.62-$0.72 vs. $0.67 consensus.

7:34AM Par Pharmaceutical beats by $0.27, beats on revs (PRX) 22.78 : Reports Q3 (Sep) earnings of $0.76 per share, $0.27 better than the First Call consensus of $0.49; revenues rose 97.9% year/year to $294.8 mln vs the $290.5 mln consensus. The YoY increase in revenue was principally driven by limited competition in metoprolol succinate, sum succinate, meclizine, and dronabinol, as well as the launches of nategli clonidine in the third quarter. Gross margin for the third quarter 2009 was $92.1 million, or 31.3% of total revenue, an increase of $40.7 million from the comparable period in 2008 (consensus was for gross margin of 26%). Total generic gross margin in the third quarter 2009 was $72.9 million, or 27.1% of total generic revenue, compared to $35.9 million, or 27.8% of total generic revenue in the third quarter 2008. This increase is due primarily to higher sales of metoprolol coupled with the launches of sumatriptan, dronabinol, and clonidine, partially offset by lower sales of fluticasone and amoxicillin. Par currently has approximately 27 ANDAs pending with the FDA, 13 of which Par believes to be first-to-file and/or first-to-market opportunities with a brand value of approximately $6.5 billion.

7:33AM K12 beats by $0.01, reports revs in-line; guides FY10 revs above consensus (LRN) 15.80 : Reports Q1 (Sep) earnings of $0.24 per share, $0.01 better than the First Call consensus of $0.23; revenues rose 20.0% year/year to $106.3 mln vs the $106.1 mln consensus. Co issues upside guidance for FY10, sees FY10 revs of $380-$390 mln vs. $378.67 mln consensus. In addition, the company is forecasting for FY10, neet income for K12 Inc. of approximately $14.6- $17.1 mln.

7:32AM Kelly Services misses by $0.11, beats on revs (KELYA) 11.91 : Reports Q3 (Sep) loss of $0.35 per share, excluding legal charges of $0.08 per share, $0.11 worse than the First Call consensus of ($0.24); revenues fell 24.9% year/year to $1.05 bln vs the $1.02 bln consensus. "We are seeing signs that the global economy is picking up steam and job losses are stabilizing. In the past few months, trends have shown modest improvement, and we're particularly encouraged by the steady, sequential nature of that upturn... Employers are understandably concerned about the sustainability of this recovery and likely will be guarded about expanding their workforce."

7:31AM CF Industries rejects latest revised proposal from Agrium (CF) 79.90 : Co announces that its board of directors has rejected Agrium latest revised proposal to acquire all outstanding shares of CF Industries. Following a review of Agrium's latest revised proposal with management and its legal and financial advisors, the CF Industries board of directors concluded that the offer continues to substantially undervalue the company and is not in the best interests of CF Industries and its stockholders.

7:16AM RXi Pharmaceuticals appoints Noah D. Beerman as CEO (RXII) 2.19 : Co announces that Noah D. Beerman has joined the company as its new President and Chief Executive Officer. The appointment of Mr. Beerman as CEO is part of a planned succession in leadership as the company looks to advance from the research stage to product development and execution of therapeutic collaborations and partnerships. He succeeds RXi's co-founder, Tod Woolf, Ph.D., who will continue as a member of RXi's Scientific Advisory Board. Mr. Beerman joins RXi with over 25 years of experience in the biopharmaceutical industry and most recently served as Executive Vice President, Chief Business Officer for Indevus Pharmaceuticals.

7:15AM American Intl reports above consensus Q3 results (AIG) 39.28 : Reports Q3 (Sep) adjusted earnings of $2.85 per share, excluding non-recurring items, $0.87 better than the First Call consensus of $1.98. At September 30, 2009, total equity was $76.5 bln, a $14.4 bln increase from $62.1 bln at June 30, 2009. The increase includes $455 mln of net income attributable to AIG, $12.1 bln of unrealized appreciation of investments, $2.1 bln from a draw-down of the Department of the Treasury Commitment related to the Series F Fixed Rate Non-Cumulative Preferred Stock, partially offset by a $350 mln reduction in non-controlling interests. "Our results reflect continued stabilization in performance and market trends. AIG employees are working to preserve the strength of our insurance businesses in a challenging market by working closely with our distribution partners, with third quarter 2009 showing signs of stabilization. Pricing in our commercial property casualty business has been stable. Management continues to monitor rates closely and maintain underwriting discipline, turning away some renewal business due to aggressive pricing by existing and new competitors. At AIGFP, virtually all key risk measures are down significantly and the earnings again benefited from a positive unrealized market valuation gain on the Super Senior Credit Default Swap portfolio. Additionally, we announced the sales of Nan Shan and a portion of AIG's investment advisory and asset management business, as well as the combination of our Domestic Life Insurance & Retirement Services businesses and ongoing efforts to build their value as part of AIG... Improved market performance, together with application of the new investment impairment accounting standard adopted in the second quarter of 2009, drove a reduction in net realized capital losses compared to third quarter 2008 and positive valuation changes for our Maiden Lane Interests, as well as increases in partnership and mutual fund income. These gains were offset by impairments in the Asset Management segment, higher current accident year losses related to credit crisis exposures and prior accident year losses in General Insurance and lower income from Life Insurance & Retirement Services investment-linked and annuity products globally. When we close the special purpose vehicles with respect to AIA and ALICO with the Federal Reserve Bank of New York (FRBNY), we expect to recognize an approximate $5 bln charge for accelerated amortization of the prepaid commitment asset. These transactions are expected to close in the fourth quarter."

7:09AM Fortress Investment beats by $0.02, beats on revs (FIG) 4.57 : Reports Q3 (Sep) earnings of $0.11 per share, $0.02 better than the First Call consensus of $0.09; revenues fell 22.4% year/year to $143.7 mln vs the $123.2 mln consensus.

7:09AM Tsakos Energy beats by $0.08, beats on revs (TNP) 15.09 : Reports Q3 (Sep) earnings of $0.06 per share, $0.08 better than the First Call consensus of ($0.02); revenues fell 33.1% year/year to $106.2 mln vs the $80.9 mln consensus.

7:08AM State Street updates Q3 2009 reported results to reflect increased reserve; operating outlook for 2009 remains unchanged (STT) 42.81 : Co announced that it has added $250 million, as of September 30, 2009, to the reserve it established in 2007 to address legal exposure related to losses incurred by investors in certain active fixed-income strategies managed by State Street Global Advisors (SSgA). The Company believes the adjusted reserve should be sufficient to account for a potential resolution of proceedings by the Securities and Exchange Commission and other governmental authorities, and to address ongoing litigation with respect to this matter... State Street also announced that it recently entered into a settlement of the purported class action with respect to ERISA participants in the active fixed -income strategies. The proposed settlement of $89.75 million is subject to court approval. Prior to recording the $250 million provision for legal exposure, the legal reserve totaled $193 million. After giving effect to the $250 million provision, the reserve as of September 30, 2009, as adjusted is $443 million, and should be sufficient to settle the above matters, including the purported class action. For the third quarter of 2009, updated reported results are earnings per share of $0.66 on net income of $327 million (co originally reported $1.05 in EPS). Return on common shareholders' equity is 10.2%, down from the previously announced 16.0%. Operating-basis results for the third quarter of 2009 exclude the provision for legal exposure and are unchanged from the operating-basis results announced on October 20, 2009. State Street's outlook for the full-year 2009 remains unchanged with operating basis revenue expected to decline about 16 percent from the record level of 2008; operating earnings per share, excluding the impact of the extraordinary loss recorded upon consolidation of the commercial paper conduits in the second quarter of 2009, and the provision for legal exposure announced today, to be between $4.13 and $4.17 (consensus $4.11) and operating return on equity to be between 14-17%.

7:07AM Lifepoint Hospitals beats by $0.03, beats on revs; reaffirms FY09 EPS guidance, revs guidance (LPNT) 29.00 : Reports Q3 (Sep) earnings of $0.59 per share, $0.03 better than the First Call consensus of $0.56; revenues rose 10.4% year/year to $745 mln vs the $729.9 mln consensus. Co reaffirms guidance for FY09, sees EPS of $2.35-2.55 vs. $2.44 consensus; sees FY09 revs of $2.9-3.0 vs. $2.94 bln consensus.

7:05AM Dolan Media beats by $0.04, beats on revs; raises FY09 EPS and rev guidance; acquires 85% interest in DiscoverReady (DM) 12.78 : Reports Q3 (Sep) earnings of $0.20 per share, $0.04 better than the First Call consensus of $0.16; revenues rose 30.1% year/year to $62.3 mln vs the $61 mln consensus. Co raises guidance for FY09, sees EPS of $0.94-0.98 vs. $0.91 consensus, up from previous guidance of $0.83-0.91; sees FY09 revs of $260-263 mln vs. $258.37 mln consensus, up from previous guidance of $254-258.5 mln. Mortgage default processing services revenues increased $14.7 million in the third quarter of 2009 compared to third quarter of 2008, which is attributable to the Barrett-NDEx operations we acquired in September 2008... Professional Services Division revenues increased to 64.2% of total revenues for the third quarter of 2009, from 53.6% for the same prior-year period. Business Information Division revenues for the three months ended September 30, 2009, represented 35.8% of total revenues compared to 46.4% in the same period in 2008. This change in mix primarily resulted from a $16.9 million increase in revenues in the third quarter from Barrett-NDEx, as well as from general economic conditions in the markets we serve."... Co also announces it acquired an 85% equity interest in DiscoverReady, a provider of outsourced discovery management and fixed-fee document review services to major companies and their counsel.

7:01AM Alliance Financial announces withdrawl of $25 mln offensive common stock offering due to market conditions (ALNC) 22.78 :  

7:01AM Rural/Metro is launching a tender offer and consent solicitation for its outstanding 9.875% Senior Subordinated Notes due 2015 (RURL) 4.95 :  

6:58AM Res-Care reports EPS in-line, misses on revs; reaffirms FY09 EPS guidance, revs guidance (RSCR) 11.90 : Reports Q3 (Sep) earnings of $0.35 per share, in-line with the First Call consensus of $0.35; revenues rose 2.0% year/year to $395.8 mln vs the $401.6 mln consensus. Co reaffirms guidance for FY09, sees EPS of $1.30-1.34 vs. $1.32 consensus; sees FY09 revs of $1.60-1.63 bln vs. $1.61 bln consensus.

6:55AM Duoyuan Printing prices 6.5 mln share IPO at $8.50 per share; the low end of the expected range of $8.50-10.50 per share (DYP) : Co intends to use the net proceeds of approximately $42.3 mln to build a factory to manufacture cold-set corrugated paper machines at its Langfang Duoyuan facility, to improve and upgrade its existing manufacturing facilities and production lines and for general corporate purposes.

6:38AM U.S. Concrete adopts section 382 stockholder rights plan to preserve use of net operating losses (RMIX) 1.22 : Co announces its Board of Directors has adopted a Section 382 Stockholder Rights Plan designed to protect stockholder value by preserving the value of certain deferred tax assets of the Company primarily associated with new operating loss carryforwards under Section 382 of the Internal Revenue Code. The Company's ability to use its net operating losses and other tax benefits could be substantially reduced if an "ownership change" under Section 382 were to occur. An "ownership change" would occur if stockholders that own (or are deemed to own) at least 5% or more of the Company's outstanding stock increase their cumulative ownership by more than 50 percentage points over their lowest ownership percentage within a rolling three-year period. The Rights Plan was adopted to reduce the likelihood of an unintended "ownership change" occurring as a result of ordinary buying and selling of the Company's common shares. Similar plans have been adopted by a number of companies in the construction and homebuilding industry over the past year.

6:37AM General Steel beats by $0.12, beats on revs (GSI) 3.92 : Reports Q3 (Sep) earnings of $0.22 per share, $0.12 better than the First Call consensus of $0.10; revenues rose 17.8% year/year to $484.8 mln vs the $456.1 mln consensus.

6:36AM Baker Hughes announces October 2009 Rig Counts (BHI) 42.12 : Co announces the international rig count for October 2009 was 983, down 3 from the 986 counted in September 2009, and down 113 from the 1,096 counted in October 2008. The international offshore rig count for October 2009 was 267, down 8 from the 275 counted in September 2009 and down 17 from the 284 counted in October 2008

6:35AM AerCap signs agreements for $358 mln of funding for Airbus A330s (AER) 8.90 : Co announces  it has signed a series of agreements with China Development Bank which provides funding for $86 million of pre-delivery payments and a $272 million long term funding facility covering four new Airbus A330 aircraft with deliveries scheduled in 2010 and 2011. The four aircraft are part of AerCap's 30 A330 order placed in 2006/2007 with deliveries scheduled until 2012.

6:35AM Mariner Energy misses by $0.13, misses on revs (ME) 13.20 : Reports Q3 (Sep) earnings of $0.04 per share, $0.13 worse than the First Call consensus of $0.17; revenues fell 28.5% year/year to $227.3 mln vs the $247.4 mln consensus. The lower year-over-year results are due primarily to lower commodity prices. "During the third quarter, production increased in the deepwater and onshore, but construction delays temporarily deferred growth from the shelf. Mariner's capital spending for 2009 should be less than half of 2008's, but we expect to achieve a year-over-year production increase of approximately 10% to 128 - 130 Bcfe, as well as strong cash flow and excellent liquidity. We have continued to expand and diversify our opportunity set, most recently in the deepwater and onshore, including our entry into unconventional resources."

6:34AM Amarin appoints John F. Thero as Chief Financial Officer (AMRN) 1.37 :  

6:31AM Geokinetics misses by $0.33, misses on revs (GOK) 18.05 : Reports Q3 (Sep) loss of $0.41 per share, excluding $0.04 in severance costs, $0.33 worse than the First Call consensus of ($0.08); revenues fell 21.4% year/year to $96.8 mln vs the $133.9 mln consensus, with gross margins at 31% vs 23% last yr. The decline in revenues was primarily attributable to further weakness in North America as evidenced by third quarter 2009 international seismic acquisition revenues declining by less than 2% from the third quarter of 2008. While lower global prices for oil and natural gas have tempered exploration spending during the past year, the international job mix has been shifting to shallow water marine and transition zone acquisition, areas where the Company operates very effectively. Geokinetics' backlog as of September 30, 2009 was approximately $259 million, down 49% from $509 million at September 30, 2008 and down 19% from $318 million at June 30, 2009.

6:23AM S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: +1.00. :

6:23AM European Markets : FTSE...5135.15...+9.50...+0.20%. DAX...5484.08...+3.20...0.00.

6:23AM Asian Markets : Nikkei...9789.35...+71.90...+0.70%. Hang Seng...21829.72...+350.60...+1.60%.

6:12AM Superior Ind misses by $0.34, beats on revs (SUP) 13.79 : Reports Q3 (Sep) loss of $0.48 per share, $0.34 worse than the First Call consensus of ($0.14); revenues fell 31.8% year/year to $111.4 mln vs the $106.8 mln consensus. Unit shipments decreased 9.7% in the 2009 third quarter compared with the same period a year ago. Average selling prices decreased approximately 23.8% compared with the prior year, due principally to a reduction in the pass-through pricing of aluminum. Gross profit was $4.2 million, or 3.8% of net sales, in the third quarter of 2009, compared to gross loss of $11.2 million, or 6.9% of net sales, for the third quarter of 2008. "We are encouraged by the production volume increases that materialized as the third quarter progressed. While a significant portion of the increase was attributed to the post bankruptcy reorganizations at General Motors and Chrysler, orders with virtually all of our customers increased in the third quarter. Based on orders received thus far, we believe that our sales will show moderate improvement during the fourth quarter" (consensus calls for 21% QoQ rev growth).

6:07AM ExlService beats by $0.08, beats on revs; raises FY09 rev guidance (EXLS) 13.86 : Reports Q3 (Sep) earnings of $0.14 per share, $0.08 better than the First Call consensus of $0.06; revenues rose 3.4% year/year to $48.2 mln vs the $44.5 mln consensus. Co raises guidance for FY09, sees FY09 revs of $178-180 mln vs. $174.14 mln consensus, up from previous guidance of $170-175 mln; with adjusted operating margin, ex-items, of 13.0% and 13.5% from 10.0% and 12.0%. Gross margin for the quarter ended September 30, 2009 was 40.2% compared to 39.8% for the quarter ended September 30, 2008 and 39.1% for the quarter ended June 30, 2009. adjusted operating margin for the quarter ended September 30, 2009, excluding the impact of stock-based compensation expense and amortization of intangibles, was 14.8% compared to 14.7% for the quarter ended September 30, 2008 and 11.3% for the quarter ended June 30, 2009.