2:37AM On The Wires (WIRES) :

• Waterfund LLC and IBM (IBM) announced that they have signed an agreement with the Ministry of Water and Environment of the Republic of Uganda that makes the country the first in Africa to become a member of the pioneering Water Cost Index.
• HP (HPQ) announced the HP ENVY Rove20 mobile All-in-One PC, the company's first mobile All-in-One PC, which frees the desktop PC from the desk with a built-in battery, unique design and advanced touch technology. HP also announced new consumer notebooks, all-in-one PCs and printers
• AMD (AMD) launched three new additions to its 2013 A-Series and E-Series Mobile Accelerated Processing Unit lineup delivering solutions ideally positioned to address today's evolving PC market with dramatically increased performance and power efficiency, as well as a portfolio of unique user experiences, and superior gaming and graphics
• Technip (TKPPY) was awarded by ADMA-OPCO(1) a lump-sum turnkey contract for the engineering, procurement, construction, pre-commissioning, commissioning and start-up assistance for flares modification and revamp project on Das Island. Technip's operating center in Abu Dhabi will execute the project which is scheduled for completion in the first half of 2015.

2:26AM U.S. Equity futures dropping sharply in recent minutes... Now down 1.07% :  

2:13AM Medtronic's In.Pact Falcon Drug-Eluting Balloon yields positive outcomes in small coronary arteries (MDT) 51.53 : Co reports One-year data from an Italian multicenter randomized controlled trial of the IN.PACT Falcon drug-eluting balloon demonstrating positive and durable clinical results with the novel angioplasty device in the treatment of stenotic de novo lesions in small coronary arteries,

The new data come from the BELLO (Balloon Elution and Late Loss Optimization) study, which enrolled 182 patients across 15 hospitals in Italy to evaluate the safety and effectiveness of two medical devices: Medtronic's IN.PACT Falcondrug- eluting balloon and the Taxus drug-eluting stent from Boston Scientific (BSX).

Nearly two-thirds (64.9%) of the vessels treated in the BELLO study with the drug-eluting balloon were smaller than 2.25mm in diameter, for which no drug- eluting stent is currently available. ============The previously presented six-month angiographic outcomes of the BELLO study favored patients treated with the drug-eluting balloon. The study met its primary endpoint, late lumen loss at six months, with statistical significance showing superiority of the drug-eluting balloon over the drug-eluting stent.

Building on these data, the latest results from the BELLO study continue to demonstrate favorable outcomes for the IN.PACT Falcon drug-eluting balloon.

2:09AM Nordion enters into agreement to divest Targeted Therapies business to BTG plc (NDZ) 7.12 : Co announces it has entered into an agreement to divest its Targeted Therapies business to BTG plc, an international specialist healthcare company based in London, for a cash purchase price of $200 mln. Net of cash taxes and transaction costs, Nordion expects to realize ~$185 mln on closing. The transaction is anticipated to be completed by the end of June 2013.

2:00AM SunPower prices $300 mln of its 0.75% Senior Convertible Debentures due 2018 (SPWR) 19.19 :  

1:55AM Morgans Hotel Group: OTK Associates mails definitive proxy statement and sends letter to Morgans Hotel Group stockholders (MHGC) 6.79 : OTK Associates, the largest shareholder of Morgans Hotel Group with 13.9% of the outstanding common stock of the company, announces that it filed definitive proxy materials with the Securities and Exchange Commission in connection with OTK's seven nominees for election to the board of directors of Morgans at its upcoming annual meeting of stockholders on June 14, 2013.

Additionally, OTK mailed a letter to Morgans stockholders highlighting the company's poor performance, lack of independence, costly transactions and clear need to improve management and board oversight. In the letter, OTK urges stockholders to vote the GOLD proxy card for its seven board nominees, who possess the significant lodging industry expertise, capital markets experience and hotel operating acumen necessary to reposition the company as a leading public boutique hotel platform.

Highlights of the letter include OTK's take on "Morgans Hotel Group's disregard for stockholder rights, costly related party transactions, poor operating performance and clear need for a reconstituted board."

1:48AM Oaktree Capital prices 7 mln shares at $53.50 per share (OAK) 54.41 :  

1:45AM Kingsway Fin acquires HVAC warranty business; accretive to cash flows (KFS) 3.10 : Co announces it has finalized the purchase of certain tangible and intangible assets of Trinity WarrantyCo. Trinity, based in Lombard, Illinois, is a provider of warranty products and maintenance support to consumers and businesses in the heating, ventilation, air conditioning and refrigeration industry. The tangible and intangible assets of Trinity are being acquired for total consideration consisting of cash and future contingent payments. Kingsway expects the business to be accretive to cash flows.

1:42AM Repros Therapeutics: FDA recommends running Phase 2b Trial of Proellex-V in the treatment of severe menstrual bleeding associated with uterine fibroids (RPRX) 15.50 : Co announces it has met with the FDA regarding the clinical development of Proellex-V, the vaginally administered product, in the treatment of uterine fibroids. The FDA recommended that a Phase 2b study should be conducted as a prelude to the Phase 3 program. During the meeting, Repros and the FDA agreed that:

• The primary indication and label for Proellex-V should be treatment of severe menstrual bleeding associated with uterine fibroids. To this end, the Pictorial Blood Loss Assessment was identified as the key primary endpoint;
• If the Company proposes a label that includes a claim based on patient reported outcome, such as bulk symptoms or quality of life, the PRO must be validated before the start of Phase 3; and
• The FDA will review the protocol prior to study initiation.

Repros believes one of the key benefits of Proellex-V is the relief of the bulk symptoms associated with uterine fibroids and that inclusion of such claims in the label will provide a significant marketing advantage. The study will start in the latter half of this year and results are expected in mid 2014.

1:36AM Japan's Nikkei average in bit of a crash mode... Now down 7.9% off early highs in last few hours :  

1:36AM Laclede Group prices 8.7 mln shares of common stock at $44.50 per share (LG) 45.09 :  

1:31AM Commercial Vehicle Group appoints Rich Lavin as Pres and CEO (CVGI) 7.93 : Co announces that that Richard Lavin has been appointed President and Chief Executive Officer, effective May 28, 2013. Lavin comes to CVG with 28 years of global experience with Caterpillar Inc., most recently as Group President of Construction Industries and Growth Markets.