5:33PM Green Plains Renewable Energy announces appointment of Chief Operating Officer (GPRE) 11.61 -0.34 : Co announced the appointment of Jeffrey S. Briggs as Chief Operating Officer effective November 23, 2009. Briggs will be responsible for all operations across the co, including Agribusiness and Ethanol Production.

5:33PM Agnico-Eagle provides exploration update; Significant new intersections at Kittila; Postive developments for Sinter and Cubiro zones at Pinos Altos (AEM) 62.66 +0.24 : Co provide an update on its exploration program since its last exploration results news release on September 08, 2009. The co's exploration programs in 2009 continue to increase the known size of the mineralized envelopes of several deposits, over and above the amount mined during the year. This $54 mln exploration program was expected to result in ~221 kilometres of drilling using more than 35 rigs. However, due to exploration success, the budget was increased approximately 10% and approximately 265 kilometres of exploration drilling has been completed through October 2009.

5:27PM International Paper announced that it has priced $750 mln of 7.30% senior unsecured notes due 2039. The public offering price of the notes is 99.741% (IP) 25.45 +0.60 :  

5:09PM EnergySolutions announced that Philip O. Strawbridge, its Chief Financial Officer, is resigning from the co effective December 31, 2009 to pursue personal business interests (ES) 8.58 -0.07 :  

5:02PM Full House Resorts announced that it has paid off the remaining $775,000 balance on its Nevada State Bank revolving loan (FLL) 3.45 +0.05 :  

5:01PM Ecopetrol S.A Confirms CB&I as leading contractor for Cartagena refinery expansion project (EC) 24.81 -0.52 : Co attaches hereto an announcement made by its subsidiary, Refineria de Cartagena S.A., on November 25, 2009 regarding the appointment of Chicago, Bridge & Iron as the leading contractor for the expansion of the Cartagena Refinery.

5:00PM United Rentals wins state purchasing contracts in Massachusetts and Texas (URI) 9.22 +0.03 : Co announced that its Government Solutions business has been awarded state purchasing contracts in Texas and Massachusetts. In Massachusetts, URI has won a sole-source equipment rental contract through 2012, with an optional extension. The contract is available for use by all executive agencies in the Commonwealth. In Texas, United Rentals has won a shared contract for equipment rentals provided through 2012 and administered via the state's Houston-Galveston Area Council (H-GAC), a nationwide purchasing cooperative available to all units of local government and non-profits.

4:56PM Tredegar: John D. Gottwald retiring as Tredegar President and CEO, Nancy M. Taylor appointed as successor (TG) 14.41 +0.28 : Co announced that John D. Gottwald plans to retire as Tredegar's president and chief executive officer. Mr. Gottwald joined Tredegar in 1989 and served as president and chief executive officer from 1989 to 2001 and from 2006 to the present. He will continue to serve as a member of Tredegar's board of directors and its executive committee.

4:55PM OmniVision beats by $0.11, beats on revs; guides Q3 EPS in-line, revs below consensus (OVTI) 13.96 +0.55 : Reports Q2 (Oct) earnings of $0.27 per share, excluding non-recurring items, $0.11 better than the First Call consensus of $0.16; revenues rose 11.8% year/year to $183.3 mln vs the $163.9 mln consensus. Co issues mixed guidance for Q3, sees EPS of $0.14-0.24, excluding non-recurring items, vs. $0.20 consensus; sees Q3 revs of $145-160 mln vs. $168.56 mln consensus.

4:46PM Broadcom to acquire Dune Networks; BRCM expects the acquisition of Dune Networks will be neutral to slightly accretive to earnings per share in 2010 (BRCM) 29.20 +0.23 :  

4:35PM DryShips announced that its previously announced agreement to acquire 2 Panamax vessels has been terminated (DRYS) 6.12 -0.07 :  

4:31PM USA Mobility extends share repurchase program (USMO) 9.98 -0.24 : USMO announced its Board of Directors has approved an extension of the Company's previously announced share repurchase program from December 31, 2009 to March 31, 2010. The Company commenced the share repurchase plan in August 2008 to buy back up to $50 million of USA Mobility common stock over a 12-month period. The Board approved a supplement to the plan in March 2009, resetting the amount available for purchase to $25 mln as of January 1 and extending the purchase period through year-end 2009.

4:30PM SCE&G announced that on December 30, 2009, it will redeem for cash all outstanding shares of its cumulative preferred stock representing an aggregate par value of $113.4 mln (SCG) 35.20 +0.26 :  

4:26PM Arthur J. Gallagher & Co. announces $150 mln private placement debt transaction (AJG) 22.40 +0.17 : AJG announced that the co has completed a private placement of $150 million of senior unsecured notes. The notes bear interest at 5.85% and are due in three equal installments in 2016, 2018 and 2019. The co intends to use the net proceeds of the debt transaction to pay down the outstanding balance under its existing line of credit.

4:18PM iPass announces three new board committee chairmen (IPAS) 1.17 -0.01 : Co announced that its board of directors has appointed three new chairmen to lead its corporate governance & nominating committee, compensation committee and audit committee. The appointments take effect January 1, 2010. Peter Clapman has been appointed as the chairman of the corporate governance and nominating committee of the iPass board of directors. Gary Griffiths has been appointed as the chairman of the compensation committee of the iPass board of directors. Robert Majteles has been appointed as the chairman of the audit committee of the iPass board of directors.

4:18PM Ticking Back +03/32 3.194%...euro 1.5008...yen 86.3850 (BONDX) : Treasuries got back into the game with the mid-curve leading as the market was able to pull back into positive territory across 2-30-yrs in mixed but fairly quiet trade. Flows were obviously a touch better than last week, but things remain cautious. The market has been regaining some safety buying even as Dubai issues are being called "contained" and month end activity helped bring prices back. The market was working the curve steeper through most of the session but headed back to flatter as players unwound. The market will likely see ongoing deterioration in the size in the market as December gets going, which should add to widened swings, but the market may practice some caution out to the Friday payrolls report with the actual unemployment rate continuing to gain added currency. The curve has seen the 2-10-yr yield spread is 252.7 while the 3-mo-10-yr was back to near Friday's flattest. The VIX has also been working back toward Friday's heated levels but was unable to hold through 25. The dollar was after making a play for 75, with the euro managing to pull back through 1.50 and the yen was put on offer as positions were cleaned up. There a will be a smaller $31B in 4-wks will be offered along with the construction spending, the ISM and pending home sales hit (10), with the vehicle sales hitting through the session

4:16PM New York Times: Machinists Union ratifies Boston Globe contract (NYT) 8.44 -0.32 : The International Association of Machinists, Lodge 264, voted to ratify a new three-year labor contract with The Boston Globe on Monday, November 23, by a vote of 10 in favor to 3 against. The new labor agreement covers the years 2008, 2009 and 2010. The vote reverses an earlier vote turn down last June of a similar agreement. The new contract is expected to provide savings of $350,000 per year. 

4:15PM ICF International announced that it has commenced an underwritten public offering of 3.1 mln of its shares of common stock (ICFI) 27.00 +0.31 : The co intends to use the net proceeds from the offering for future growth, including possible acquisitions. The co will do this by applying the net proceeds it receives to repayment of outstanding borrowings incurred under its revolving credit facility. Such debt repayment will provide the co with debt capacity for growth initiatives.

4:11PM Vanguard Natural Resources announces public offering of 2.25 mln common units (VNR) 18.82 +0.87 :  

4:08PM Amerisafe announces redemption of all outstanding convertible preferred stock (AMSF) 16.89 -0.31 : Co announced that it will redeem all 250,000 outstanding shares of Series C and Series D Convertible Preferred Stock, effective December 31, 2009. The redemption price is $103.50 per preferred share, or a total of $25,875,000. The Company will use available cash to fund the redemption. 

4:07PM Elec For Imaging: German Court declares EFII victorious in patent litigation against Durst (EFII) 12.01 +0.32 : Co announced victory in its German patent litigation with Durst Fototechnik Digital Technology GmbH involving EFI's VUTEk QS series printers with white ink technology. Durst brought the lawsuit in the Mannheim Regional Court on February 27, 2007, accusing EFI's VUTEk QS series printers of infringing Durst's utility model DE 20 2005 012 179 U1. From the outset, EFI has maintained that it employed the technology in its QS printers well before Durst obtained its utility model. Under German law, a utility model is an intellectual property right to protect inventions, very similar to a U.S. patent.

4:07PM Synovis Life Tech announces publication of Veritas article in The American Journal of Surgery (SYNO) 12.16 +0.08 : Co announced that The American Journal of Surgery has published an article on the performance of Synovis' Veritas Collagen Matrix for the repair of complex ventral hernias. The retrospective Veritas study reviewed outcomes of 26 patients with 30 primary or recurrent ventral hernias. All patients had either an infected wound or failure of a synthetic mesh material implant. Ventral hernia repair with synthetic mesh has recurrence rates up to 54 percent, and this material cannot be used when an infection is present. At 22 months, the recurrence rate among patients treated with Veritas was 19 percent. The majority of patients had their hernia defect bridged with Veritas. The literature documents an 80 percent failure rate for the bridging procedure when the human skin product of a major competitor is used.

4:06PM Hyperdynamics signs agreement for exclusive dealing and letter of intent with Repsol for interest in offshore Guinea Oil and Gas concession (HDY) 1.15 +0.10 : Co announces it has signed an agreement for exclusive dealing and letter of intent (LOI) with Spanish-based Repsol YPF, S.A. (REP) under which the two cos will negotiate the assignment to Repsol of a 37% interest in Hyperdynamics' oil and gas concession offshore the Republic of Guinea. The LOI gives Repsol exclusive negotiating rights to take a 37% share in Hyperdynamics' concession for $31.5 mln. Repsol also would be the operator of the Guinea project, subject to govt and third-party approvals and consents as required. Under the terms of the LOI, the two companies will work to sign definitive documents no later than January 31, 2010. The LOI otherwise terminates unless further extended by both parties.

4:05PM SciClone Pharma announces commencement and complete enrollment of clinical study examining ZADAXIN's ability to enhance the H1N1 vaccine (SCLN) 2.14 -0.22 : SciClone Pharmaceuticals (SCLN) announced that Rome-based development partner Sigma-Tau, S.p.A., has initiated a pilot study in Italy to evaluate ZADAXIN's (thymalfasin) ability to enhance immune response to the MF59 adjuvanted H1N1 influenza monovalent vaccine, Focetria from Novartis. The study, being conducted in hemodialysis patients, is now completely enrolled, having reached full enrollment after two days. Top-line clinical results are expected by late 2009 or early 2010.

4:05PM Forest Oil announces agreement to sell remaining Permian Basin assets for ~ $800 mln and updates Canadian divestitures (FST) 18.32 -0.18 : Co announces that it has entered into a definitive agreement to sell to SandRidge Exploration and Production, a wholly owned subsidiary of SandRidge Energy (SD), the remainder of its Permian Basin properties in West Texas and New Mexico for ~$800 million. The transaction is expected to close on or before December 31, 2009, with an effective date of November 1, 2009, and is subject to customary closing conditions and post-closing purchase price adjustments. In addition to the Permian Basin transaction, Forest entered into a definitive agreement in November 2009 to sell additional non-core, primarily non-operated assets, in the Deep Basin in Alberta, Canada for ~ $38 mln. This transaction, which is expected to close in December 2009, will bring Forest's non-core Canadian property divestitures in 2009 to ~ $100 mln for assets that produced 11 MMcfe/d and had 65 Bcfe of estimated proved reserves as of December 31, 2008. After the close of this divestiture, Forest will have accomplished approximately 50% of its non-core Canadian divestiture goal. During 2009, Forest expects to have closed on the sale of 68 MMcfe/d of production and 456 Bcfe of estimated proved reserves as of December 31, 2008 for proceeds in excess of $1.0 bln. Forest intends to complete the sale of the remainder of its non-core Canadian properties in early 2010 to streamline its portfolio and prepare for more active development of its core assets in 2010 and 2011.

4:05PM SandRidge Energy to acquire Permian Basin properties for $800 mln; to offer 22 mln in common stock; to sell 2 mln shares of preferred stock for $200 mln (SD) 9.38 -0.17 : announced that it has entered into a definitive purchase agreement to acquire oil and gas properties in the Permian Basin from Forest Oil Corporation and one of its subsidiaries for $800 mln, subject to customary closing conditions and purchase price adjustments. Approximately $720 mln of the purchase price is attributable to the reserves and $80 mln to undeveloped acreage, equipment and other assets. The company anticipates closing on or before December 31, 2009, and the acquisition will be financed with borrowings under the company's existing credit facility, $200 mln of proceeds from the placement of new shares of mandatory convertible preferred stock, and the proceeds of a planned public offering of the company's common stock. The company has entered into an agreement to issue and sell 2,000,000 shares of its 6.0% convertible perpetual preferred stock to an institutional investor for an aggregate purchase price of $200 mln. The issuance and sale of the convertible preferred stock is expected to close at the same time as the Forest Acquisition. The company also announced today a registered underwritten public offering of 22,000,000 shares of its common stock. In addition, Tom L. Ward, the company's Chairman, Chief Executive Officer and President, is offering 2,000,000 shares of common stock. The company also intends to grant the underwriters a 30-day option to purchase up to 3,300,000 additional shares of common stock. Net proceeds to the company from the offering will be used to fund the purchase price for the Forest Acquisition, but if the Forest Acquisition is not consummated, the net proceeds are expected to be used for general corporate purposes, including exploration, development and other capital expenditures. The company will not receive any of the proceeds from the shares of its common stock sold by Mr. Ward.

4:04PM Guess beats by $0.18, beats on revs; guides Q4 EPS above consensus, revs above consensus (GES) 36.93 -0.54 : Reports Q3 (Oct) earnings of $0.69 per share, $0.18 better than the First Call consensus of $0.51; revenues fell 1.0% year/year to $522.8 mln vs the $482.6 mln consensus. Co issues upside guidance for Q4, sees EPS of $0.77-0.80 vs. $0.69 consensus; sees Q4 revs of $585-605 mln vs. $563.79 mln consensus. Co says, "Our brand enjoys significant momentum worldwide and our management team continues to execute well. We are gaining share in key markets, generating strong cash flows and delivering solid returns. As we look into the future, we will continue to fund key growth initiatives and invest in our infrastructure. International expansion remains a high priority for us and we plan to resume retail development in North America and expand our retail presence in other countries as well."

4:03PM State Bancorp announces agreement for exchange of outstanding $10 million debt for new equity and a major disposition strategy for low quality commercial loans (STBC) 7.39 +0.52 : Co announces two separate strategic actions that are each designed to aggressively position the Company for 2010 and beyond. In the first initiative, co reported that it will retire its outstanding 8.25% subordinated notes with an aggregate principal balance of $10 million issued in 2006 and due to mature in 2013. In exchange for the subordinated debt and accrued interest, co will issue 1,656,600 shares of its common stock in a privately negotiated transaction with four major institutional investors at an effective price of $6.50 per share. The net effects of this exchange will be an increase in the Company's tangible common equity of $11 million and an $825,000 annual reduction in ongoing interest expense related to the retired subordinated notes.

4:01PM Human Genome announces proposed public offering of common stock (HGSI) 27.82 +0.71 : Co announced that it has commenced an underwritten public offering of up to 12,500,000 shares of its common stock. Co currently expects to use the net proceeds from this offering for general corporate purposes, including acquisition of additional manufacturing capacity and development of new indications for BENLYSTA(TM), as well as potential sales and marketing activities, clinical trial, research and development, general and administrative and manufacturing expenses and the potential retirement of debt.

4:01PM JDA Software announces private offering of $275 mln of senior notes (JDAS) 23.48 -0.06 : Co announced that it intends to commence an offering, subject to market and other conditions, of $275 million aggregate principal amount of senior notes in a private offering. JDA intends to use the proceeds of the offering, along with its existing cash and cash on hand at i2 Technologies, Inc. (ITWO), to pay the cash portion of the consideration payable to i2's common and preferred shareholders in connection with the previously announced acquisition of i2 by JDA, as well as the estimated fees and other transactions costs of the acquisition and offering. The notes will be guaranteed by JDA's existing and future domestic subsidiaries, including, following the closing of the acquisition, i2 and its domestic subsidiaries, other than certain immaterial subsidiaries.

4:01PM Navios Maritime announces delivery of capesize new building vessel (NM) 5.73 +0.09 : Co announced that a South Korean shipyard delivered to Navios Holdings the newly built Navios Aurora II, a Capesize vessel of 169,031 dwt. As previously announced the vessel is chartered-out for ten years at a net charter-out rate of $41,325 per day.

4:00PM Woodward Governor signs agreement with REpower for delivery of wind power converters (WGOV) 23.26 -0.06 : Co announces that it has signed a contract with REpower Systems AG to supply wind turbine power converters for five projects in the Canadian province of Quebec under the Hydro-Quebec Distribution wind power project. REpower will deliver wind turbines that provide up to 954 MW of power. The agreement between REpower and Woodward includes up to 477 wind power converters to be delivered between 2011 and 2015.

3:50PM Sector ETF strength & weakness approaching today's closing bell & month-end (SLX) : Actively Traded Leading Sector ETFs:
Steel- SLX +4.75%, iShares REITS- ICF +4%, iShares real estate- IYR +3.5%, Commercial banks- KBE +3.25%, Reg. banks- RKH +3%, KRE +1.5% US airlines- FAA +2.5%, Financials- XLF +2.5%, IYF +2.25%, Base metals- DBB +2.25%, iShares Japan- EWJ +2.25%, RBOB gas futures- UGA +2%, Crude/WTI oil- USO +1.75%, OIL +1.75%, China 25- FXI- +1.5%

Actively Traded Lagging Sector ETFs:
Nat gas- UNG -6.5%, SPDRS retailers- XRT -1%, SPDRS homebuilders- XHB -1%, iShares healthcare providers- IHF -1%, iShares telecom- IYZ -1%, SPDRS cons stpls- XLP -.5%, US Dollar index- UUP -.5%

3:43PM Earnings Calendar : Today after the close look for the following companies to report: GES, OVTI, ZOLT. Tomorrow before the open look for the following companies to report: BECN, GIGM, ISLE, LDR, SPLS, UTI.

3:38PM Radio One suspends print version of GIANT Magazine (ROIA) 3.05 -0.06 : Co announced the launch of GIANTLife.com and will suspend printing the bi-monthly GIANT magazine. GIANTLife.com will continue and expand upon the magazine's original vision.

3:36PM Landauer increases quarterly cash dividend to $0.5375 per share, up from cash dividend of $0.525 per share (LDR) 56.29 +0.18 :  

3:29PM Amazon.com climbing back to fresh split-adjusted all-time high territory as we near the final stretch of the session (AMZN) 135.44 +3.73 :  

3:28PM Philip Morris International shares now off nearly 4% on very heavy trading volume as price nears the rising 100 day SMA/EMA in position @ 47.75/47.65 (PM) 48.06 -1.93 : LoD @ 48.05 with the stock posting the heaviest volume of the month on this last day of Nov.

3:13PM Relative Sector Strength (XRT) : The indices are vacillating near their afternoon bounce highs (Dow -0.6, S&P -0.4, Nasdaq -4.8) with relative sector strength (outperforming the S&P) on the latest upticks noted in Retail XRT, Finance RKH / XLF, Consumer Discretionary XLY, Casino, REITs IYR, Internet HHH, Coal KOL, Industrial XLI.

2:59PM NASDAQ 100 (NDX) leaders & laggards moving into the final hour of trading (EBAY) : NDX Best % Performers:
EBAY +4.25%, APOL +3%, AMZN +2.25%, SBUX +2%, JNPR +1.25%, RYAAY +1.5%, STLD +1.25%, ILMN +1%, NVDA +1%, CELG +.75%, CTSH +.5%

NDX Worst % Performers:
GRMN -5%, LBTYA -3.5%, STX -3%, FWLT -2.75%, LRCX -2.5%, URBN -2.5%, KLAC -2.5%, MRVL -2.25%, HSIC -2.25, ATVI -2.25%, CHKP -2.25%

NASDAQ TRIN @ +1.0
NASDAQ A/D line @ -755

2:58PM U.S. Energy announces initial production rate of approximately 2,264 BOE/D from the strand 16-9 #1H Bakken Well (USEG) 6.05 +0.01 : Co announced the initial production rate from its Strand 16-9 #1H Bakken well and provided an operations update regarding its Williston Basin drilling program. The Strand 16-9 #1H well, which is operated by Brigham Exploration Company (BEXP), flowed at an initial 24-hour production test rate of approximately 1,947 barrels of oil and 1.9 MMCF of natural gas per day or 2,264 BOE/D.

2:56PM Dow (INDU) leaders & laggards moving into the final hour of trading (AXP) : INDU Best % Performers:
AXP +1.5%, BAC +1.25%, JPM +1%, CAT +.75%, TRV +.5%

INDU Worst % Performers:
HD -1.75%, DIS -1.25%, T -1%, AA -1%, CVX -.5%, BA -.5%

NYSE TRIN @ +1.0
NYSE A/D line @ -500

2:50PM Goldman Sachs shares lift to session/intraday range highs heading into the final hour of trading accompanied with an increase in 5 min volume here (GS) 167.89 +4.08 :  

2:50PM CBOT Agriculture and Ethanol and ICE Exchange Sugar Closing Prices (COMDX) : March corn closed higher by 2.75 cents to $4.1625 per bushel, January soybeans closed higher by 4 cents to $10.57 per bushel, March wheat closed higher by 15.75 cents to $5.855 per bushel, February Ethanol closed higher by 0.013 cents to $1.975, March world sugar futures closed lower by 0.13 cents at 22.64 cents per pound.

2:47PM Monarch Finl increases capital offering and raises $17.5 million (MNRK) 6.75 0.00 : Co announces that its public offering of 700,000 shares of noncumulative convertible perpetual preferred stock was priced to the public at $25.00 per share for total gross proceeds of $17.5 mln. Monarch had initially filed to offer 650,000 shares of preferred stock, but decided to increase the offering to 700,000 shares of preferred stock due to strong demand.

2:37PM NYMEX Energy Closing Prices (COMDX) : The Jan Crude oil contract ended higher by $1.07 to $77.12 following a knee-jerk reaction (good for ~$1.50 spike) to headlines regarding the Iranian detainment of five British yacht members. Jan Nat gas fell 34.8 cents to $4.844, Dec heating oil rose 4.38 cents to finish at $2.0060 and Dec RBOB gasoline closed up 6.65 cents to $1.9927.

2:26PM iShares 20+ yr Treasuries ETF sees a push outside of its intraday 96.60 range top as price nears an underside retest of the declining 200 day SMA in position @ 96.70-- See Daily Chart (TLT) 96.57 +.17 : Price has stalled OUT on previous technical tests of this widely followed, longer-term moving average, most recently at the Sep~early Oct tops before the volatile breakdown seen below.
HoD now @ 96.62

TLT Chart (Daily)

2:17PM IBM has acquired Guardium; Financial terms were not disclosed (IBM) 125.84 +0.14 : Co announced it has acquired Guardium, a market leader in real-time enterprise database monitoring and protection. Guardium's technology helps clients safeguard data, monitor database activity and reduce operational costs by automating regulatory compliance tasks. Guardium is a privately held company based in Waltham, Massachusetts. Financial terms were not disclosed.

2:08PM American Intl shares break to session lows as price makes a marginal breach of 200 day SMA support surrounding the 29.00 level (AIG) 28.77 -4.53 : Price now trades to fresh 3 month lows @ 28.76 accompanied with the heaviest daily trading volume in nearly three weeks.

1:55PM Stock indices tick slightly higher off midday lows -- Dow -5.8, S&P -0.7, Nasdaq -5.8 (TECHX) : Relative strength has come from Energy XLE / OIH, Materials XLB, Housing XHB, Retail XRT, Solar TAN, Gold Miners GDX, Casino, REITs IYR.

1:53PM Jan crude oil pops over $1 in the last few minutes to fresh highs of $77.67 in afternoon trading, currently at $77.49 +1.44 (USO) :  

1:52PM U.S. Oil Fund ETF lifts to fresh highs on a pick up in volume as it climbs up into the 39.50 area (USO) 39.31 +0.80 :  

1:46PM GSI Technology spikes almost a point after co announces two new SRAM products (GSIT) 4.23 +0.83 : Co announces the availability of SigmaQuad-IIIe and SigmaDDR-IIIe, two new SRAM products whose revolutionary architecture provides the ultimate in system performance, reliability, and flexibility for applications that require a high random address rate. "This sort of capability is terribly important to those wishing to measurably enhance the performance of networking systems."

1:36PM COMEX Metals Closing Prices (COMDX) : Gold ended the day higher by $7.43 to $1181.63, silver gained 18.5 cents to $18.487 and copper gained 5.32 cents to finish at $3.1467 (all Dec contracts).

1:21PM Federal Signal announces court entered judgments in its favor in the first two cases (FSS) 5.59 +0.03 : Co announces that a Philadelphia court entered judgments in its favor in the first two cases scheduled to be tried against it by a group of firefighters who allege the Company's sirens caused them hearing loss. The cases were filed over two years ago in the Philadelphia Court of Common Pleas, and the parties engaged in extensive pre-trial work. After the first jury had been chosen, and on the morning the first trial was set to begin, the plaintiffs withdrew their oppositions to the Company's motions for summary judgment, ending their cases. The Company agreed to pay $12,500, a nominal sum, to reimburse a portion of the plaintiffs' litigation expenses, and the plaintiffs agreed to waive any rights to appeal.

1:19PM Mixed Business -01/32 3.211%...euro 1.4988...yen 86.2300 (BONDX) : Bonds have been able to regain some ground in what remains fairly holiday stymied and dull trade with flurries of forced activity. The market is holding in even as global talk of removing accommodation circulates with the Fed making noises about draining cash and ECB officials' write of the correct timeframe of their moves to tighten. The market has weathered that chatter well, digging in further in the camp calling for the Fed remaining on hold until at least mid-2010. The day's data showed improved Mid-and-Southwest manufacturing, but the upcoming ISM report is expected to slip from its recent fairly steady push higher but the more closely watched services report is seen improving. The market has been caught in a fairly tight range much of the session with the 10-yr nicking around either side of the 3.225% area. The market will be hoping for even further warnings on coming tightening as the Fed gets back on the stump through out the week and Treasury's Geithner gets put in the hot-seat again in congressional testimony Wednesday. The VIX has continued its run-up which resumed Friday after a pretty steady run lower since the end of October, with the index trading back through to 11/5 levels holding over 25. The curve has been held slightly steeper with the 2-10-yr yield spread at 253.1. The dollar has been clawing it way back toward the 75 handle on the index while spinning the euro back off through the 1.50 point after early pushes toward 1.51. The yen has been making halting moves lower on the buck from Friday's run to its best in14-yrs while giving up near 129 per euro from 126.90.

12:58PM Dollar Index sets new day session high, limited reaction thus far from stock indices as they hover slightly above session lows -- Dow -33, S&P -4.2, Nasdaq -13 (TECHX) :  

12:52PM EZCORP announces the appointment of Brad Wolfe as Senior Vice President - Finance; Wolfe will assume the position of CFO effective January 1, 2010 (EZPW) 14.43 -0.26 :  

12:45PM Sector ETF strength & weakness @ middday (SLX) : Actively Traded Leading Sector ETFs:
Steel- SLX +4.25%, Base metals- DBB +2%, iShares Japan- EWJ +2%, US airlines- FAA +1.75%, Commercial banks- KBE +1.5%, Reg. bank HLDRS- RKH +1.5%, iShares REITS- ICF +1.25%, iShares real estate- IYR +1%, Solar power- TAN +.25%, KWT +1%, India- INP +1%, Financials- XLF +.75%, IYF +.75%, China 25- FXI +.5%, Commods- GSG +.5%, SPDRS utilities- XLU +.5%

Actively Traded Lagging Sector ETFs:
Nat gas- UNG -6.5%, SPDRS retailers- XRT -2.25%, SPDRS homebuilders- XHB -2%, Insurers- KIE -1.75%, iShares healthcare providers- IHF -1.25%, iShares telecom- IYZ -1.25%, Energy- XLE -1%, IYE -.5%, iShares RUT 2000- IWM -1%, Clean energy- PBW -.75%

12:26PM Timberland announces an exclusive partnership with Reliance Brands (TBL) 16.53 +0.14 : Co announced an exclusive partnership with Reliance Brands, part of Reliance Industries, to distribute Timberland footwear and apparel to the Indian market. Through the collaboration, Timberland products will be available through Timberland branded retail stores and premium department stores in major cities throughout India.

12:17PM Toll Brothers approaching session/Friday's bounce highs at 19.52/19.51 (TOL) 19.50 +0.22 : Stock dropped back to its 200 day sma support on Friday morning bringing the decline off its Nov peak to roughly 13%. It rebounded as high as 19.51 Friday and has retested this recovery high once again today.

12:10PM Taseko Mines to receive $180 million to joint venture 25% of Gibraltar Mine (TGB) 3.11 +0.02 : Co announces that it has signed a letter of intent with Sojitz to establish by early 2010 a joint venture over Taseko's Gibraltar copper/molybdenum mine in which Taseko will hold 75% and Sojitz 25%. Sojitz will pay ~$180 million to Taseko for its 25% interest. Taseko will continue to be the operator of Gibraltar.

11:52AM European Markets Closing Prices: FTSE: 5190.7 -55.1 -1.1%, DAX: 5626.0 -59.7 -1.1%, CAC: 3680.2 -41.3 -1.1% :  

11:48AM Mohawk slides as low as 40.02, vacillating between its 200 day sma/Nov low at 40.18/39.93 (MHK) 40.10 -1.47 :  

11:43AM SPDR Homebuilders extends slide to/attempting to stabilize near its 200 day ema at 14.09 -- session low 14.12 (XHB) 14.15 -0.29 :  

11:35AM Dollar Index jumps to new day session high, stock indices set fresh session lows -- Dow -32, S&P -4, Nasdaq -15 (TECHX) : (Click for chart).

11:32AM Apple drops to new session low of 198.91, hovering modestly above Friday's low of 198.37 (AAPL) 199.04 -1.55 : Its two week low comes into play thereafter at 197.76.

11:30AM Market View: Stock indices drop back into the red, Nasdaq -12 sets new session low -- Dow -25, S&P 3.1 (SPY) :  

11:24AM Check Point Sftwr slide accelerates, testing 50 day (CHKP) 30.78 -1.16 : Highlighted the gap support at 31.32 in the 10:28 update with the today's breakdown accelerating on a penetration. A fresh low in recent trade (30.74) has brought its 50 day ema and the 38% retracement of the Sep/Nov rally into play at 30.78/30.66.

11:20AM JC Penney extends to new session/four month low (JCP) 28.49 -1.07 : Noted the relative weakness in the sector and the JCP test of its Nov low in the 09:49 updates. The recent follow through selling pressure has resulted in a breach of its Sep trough and a new four month low of 28.44. Support is just below in the 28.34/28.23 area (congestion/38% retracement of the March-Oct surge). Further out, its 200 day sma comes into play at 27.84.

11:18AM Wonder Auto Tech reaffirms goal of achieving a compound annual growth rate of ~31% in pro forma net income from 2009 to 2011 (WATG) 11.52 +0.12 :  

11:06AM American Intl continues to sink lower this morning to fresh 3-month lows below the $30-level (AIG) 29.40 -3.86 : Note the 200-day simple moving average is in play around the 29.00 vicinity.

10:57AM Market View: Dollar Index lifts off morning low, stock indices slip back -- Dow +11, S&P +1.3, Nasdaq -3.6 (SPY) : The Dow and S&P stalled slightly under Friday's bounce highs this morning with a push off the lows in the Dollar Index leading to some downticks over the last 20 minutes.

10:53AM FedEx showing strong trend up this morning, breaking above last week's range top along 84.00 level (FDX) 84.60 +1.95 : Next level of interest lies near the November high around 85.43.

10:45AM MedQuist signs agreement extending use of real-time speech recognition engine to wide range of medical specialties (MEDQ) 6.85 -0.09 : Co announces that it has signed an agreement with Nuance Communications (NUAN) under which MedQuist will now license Nuance's SpeechMagic speech recognition engine and processing software for use in SpeechQ of General Medicine, MedQuist's front-end speech recognition application for all medical disciplines.

10:45AM Career Education climbing higher towards 2-month highs around the 25.91/26.00 area (CECO) 25.88 +0.64 :  

10:36AM CACI Intl awarded $24 million contract to upgrade common ground systems in U.S. Army Operations (CACI) 45.51 -0.64 :  

10:36AM American Intl continues to display ongoing opening relative weakness as it eyes a test of the 30.00 area below (AIG) 30.90 -2.40 :  

10:35AM Sector ETF strength & weakness through the first hour of trading (SLX) : Actively Traded Leading Sector ETFs:
Steel- SLX +6%, iShares Japan- EWJ +2.5%, Commerical banks- KBE +2.5%, Solar power- KWT +2.5%, US airlines- FAA +1.75%, iShares REITS- ICF +1.75%, Financials- XLF +1.75%, IYF +1.5%, India- INP +1.75%, Base metals- DBB +1.75%, China 25- FXI +1.5%, Gold miners- GDX +1.25%, SPDRS metals/mining- XME +1.25%, Oil HLDRS- OIH +1.25%

Actively Traded Lagging Sector ETFs:
Nat gas- UNG -5.25%, Insurers- KIE -1%, SPDRS homebuilders- XHB -.75%, US Dollar index- UUP -.5%, Livestock commods- COW -.5%, iShares telecom- IYZ -.5%

10:35AM Thor Industries beats by $0.07, reports revs in-line (THO) 28.66 +0.42 : Reports Q1 (Oct) earnings of $0.42 per share, $0.07 better than the First Call consensus of $0.35; revenues rose 14.5% year/year to $502.6 mln vs the $501 mln consensus. "Thor's financial condition remains excellent. Cash, cash equivalents and investments were $329 million, even after distributing a special dividend of 50 cents per share or $27.7 million to Thor shareholders in the quarter. Results are much improved, driven by aggressive cost cutting, strong towable and modest motorized RV sales increases, and greater efficiencies in Bus. We were profitable in all business segments in the quarter, including motor homes, and our backlog remains at record levels for this time of year."

10:33AM AeroVironment announces that EnerDel to purchase eight AV advanced electric vehicle power cycling and test systems (AVAV) 28.54 -0.41 : Co announces that automotive lithium-ion battery maker EnerDel, a subsidiary of Ener1, Inc. (HEV), will be using a portion of its recent federal stimulus grant to purchase eight AV advanced electric vehicle power cycling and test systems.

10:31AM Air Products signs long-term hydrogen contract for Shell's new unit at its Pernis refinery (APD) 82.99 +0.84 :  

10:31AM Gladstone Commercial announces the extension of the term of its line of credit for one year (GOOD) 13.40 -0.04 : Co announces that it has exercised its option under its existing credit agreement to extend the term of its $50 million line of credit by one year, resulting in a new maturity date of December 29, 2010. Co paid an extension fee of 0.20% of the total commitment, or $100,000, in connection with extending the term. As of November 24, 2009, there was $31.2 million outstanding under the line of credit at an interest rate of ~2.2%, and ~$3.6 million outstanding pursuant to letters of credit at a weighted average interest rate of ~2.0%. At November 24, 2009, the remaining borrowing capacity available under the line of credit was ~$10.3 million. 

10:31AM China Automotive -- After pushing above its Nov range high of 17.62 straight off the open, stock continues to push higher as it extends above its Nov-Dec 2003 all-time high of 18.50 (CAAS) 19.50 +2.59 : Would note that this price advance is occurring on good relative volume thus far.

10:30AM Market View: Minor new rebound/session highs for stock indices -- Dow +42. S&P +4.5, Nasdaq +2.1 (SPY) : Relative sector strength on this move (outperforming the S&P) has been noted in Energy XLE / OIH, Materials XLB, Casino, Airline, Gold Miners GDX, Ag/Chem MOO.

10:28AM NASDAQ 100 (NDX) leaders & laggards moving through the first hour of trading (EBAY) : NDX Best % Performers:
EBAY +2.5%, AMZN +2.25%, RIMM +2%, APOL +1.5%, SPLS +1.5%, JNPR +1.5%, BIIB +1%, LINTA +1%, INFY +1%, VRSN +1%

NDX Worst % Performers:
NWSA -2.25%, ATVI -1.75%, GRMN -1.75%, CHKP -1.5%, LBTYA -1.5%, MICC -1.5%, HSIC -1.5%, STX -1.5%, CMCSA -1.25%, LOGI -1.25%

NASDAQ TRIN @ +0.40
NASDAQ A/D line @ -605

10:28AM Check Point Sftwr down for fourth session in a row, testing gap support (CHKP) 31.44 -0.50 : The stock has dropped for the fourth session in a row for a decline of more than 5.5% off the Nov peak. Today's extension has brought a gap support from early Nov between 31.45 and 31.32 into play (session low 31.41).

10:26AM Dow (INDU) leaders & laggards moving through the first hour of trading (BAC) : INDU Best % Performers:
BAC +2%, JPM +1.75%, CAT +1.25%, MMM +1%, AXP +1%, TRV +.75%

INDU Worst % Performers:
MRK -1%, KFT -.5%, T -.5%, DIS -.5%, MCD -.5%

NYSE TRIN @ +.50
NYSE A/D line @ +30

10:20AM Mkt Vctrs Global Agribusiness ETF seeing some upside movement into fresh first hour highs in recent trading (MOO) 42.98 +.42 : Seeing some leadership in BG, MOS, POT recently

10:08AM Airline Index -XAL- breaks to new high above Friday's peak, eyeing its two week trading range top at 27.26 (UAUA) 27.19 +0.41 : CAL +4%, AMR +2.6%, DAL +2.2%, JBLU +1.1%, LCC +2.5%, UAUA +3.5%, CPA +0.9%, XJT +2%.

10:07AM Origin Agritech extends its gap up open higher intraday as it edges modestly above last wk's gap up momentum high of 12.04 (SEED) 12.53 +1.54 :  

10:07AM Solar continues to display relative strength (CSIQ) : CSIQ +4.2%, YGE +3.9%, LDK +3.8%, TSL +3.7%, STP +3.7%, SPWRA +3%, SOLF +2.5%, JASO +2%, SOL +1.5%, FSLR +1.3%.

10:04AM PNC Bank pushes to minor new high of 56.81, hovering near its 52-wk close high from last week at 56.87 (PNC) 56.74 +1.36 : Its 52-wk intraday peak from last week does not come into play until 57.86.

10:00AM Constellation Energy signs agreement to acquire Western Maryland Wind Project (CEG) 31.90 -0.18 : Co announced it has signed an agreement with Clipper Windpower to acquire the Criterion wind project. The $140 million, 70-megawatt wind energy project would be developed, constructed, owned and operated by Constellation Energy. Under terms of the agreement, Constellation Energy will purchase from Clipper Windpower the Criterion project and 28 of Clipper's 2.5-megawatt Liberty wind turbines. The Criterion project has received the necessary state approvals. Criterion's 2008 state application was the first to win approval under a 2007 state law promoting wind development in Maryland.

9:59AM U.S. Oil Fund ETF trading back into positive territory after trading lower by over a percent earlier in the session, testing the highs from Friday's session at $38.69 (USO) 37.61 +0.11 :  

9:54AM Competitive Technologies announces European regional distributor (CTT) 2.24 +0.04 : Co announced today that its Geneva, Switzerland-based distributor, Life Episteme SARL, has established a joint venture, Life Episteme Italia srl, with Florence, Italy-based Hospital Consulting SpA, to distribute CTT's pain therapy medical device, Calmare Therapy Treatment throughout Italy.

9:53AM Financial Select Sector SPDR outperforming in early trade, hovering near Friday's bounce high at 14.50 -- session high 14.49 (XLF) 14.46 +0.18 : BAC +1.8%, JPM +1.4%, AXP +0.4%, USB +3.2%, WFC +2.1%, GS +1.7%, MS +1.4%, TRV +0.6%, PNC +2.3%.

9:52AM Trina Solar edges higher off the opening to challenge last Friday's high of 45.50 (TSL) 45.66 +1.53 : Next level of interest is the November peak near 46.80.

9:49AM JC Penney sinks lower off the opening towards its November reaction low of 28.76 (JCP) 28.93 -0.64 :  

9:49AM SPDR Retail ETF slips to new low, hovering near its 50 day ema and Friday's low at 34.59/34.53 -- session low 34.65 (XRT) 34.70 -0.27 : JCP -2.2%, PSS -2.1%, GPS -1.2%, GYMB -2.1%, JCG -1.5%.

9:46AM Market View: Stock indices push to new rebound highs on better Chgo PMI headline and pause -- Dow +8, S&P +1.4, Nasdaq -2 (SPY) :  

9:40AM Amazon.com shares see an early push to highs as Black Monday sales & action is in play (AMZN) 133.73 +1.99 : 135.00 is the key level of daily resistance on the upside. Recent 52 week highs stand @ 134.56

9:39AM Capstone Turbine will introduce CMT-380, a hybrid-electric supercar powered by batteries and microturbine (CPST) 1.31 -0.01 :  

9:39AM Market View (DIA) : Noted earlier the hold at first level support highlighted in The Technical Take at 1088/1087 for the S&P and have seen the Nasdaq Comp and Dow also hold at first level supports thus far as well at 2130/2128 and 10280/10270, respectively.

9:37AM Financials are the leading component of the Dow (INDU) in early trading (XLF) : JPM +2%, BAC +2.25%, AXP +1%, TRV +.25%

9:35AM S&P 500 extends minor opening dip to initial support at 1088/1087 (SPY) :  

9:32AM eBay responds to French court ruling versus LVMH; believes that the higher courts will overturn this ruling (EBAY) 23.29 +0.09 : Co responds to a decision by Commercial Court of Paris versus LVMH, to fine eBay 1.7 mln Euro in relation to an injunction that prevents French eBay users from buying or selling LVMH Group perfumes and cosmetics on any eBay website. "Today's outcome hurts consumers by preventing them from buying and selling authentic items online. The injunction is an abuse of 'selective distribution'. It effectively enforces restrictive distribution contracts, which is anti-competitive... We believe that the higher courts will overturn this ruling and ensure that eCommerce companies such as eBay will continue to provide a platform for buyers and sellers to trade authentic goods." Mr. von Schirmeister added, "The fine itself is disproportionate given that eBay complied with the Injunction. It is out of step with our legal victories in France, UK, Germany, Belgium and the U.S."

9:26AM On Track Innovations teams up to receive a $17 mln contract to provide solutions and systems for electronic identification product (OTIV) 1.02 : Co announces that it has signed a contract for the supply, transfer, maintenance and operation of an electronic identification related product based on OTI's Magna platform. OTI has teamed up with a reputable system integrator that will be responsible for project management and local operation in the country. The contract provides for an initial three-year period and minimum guaranteed amount of $17 mln, starting in 2010. The project is funded based on a Build-Operate-Transfer model.

9:24AM Electro Optical Sciences initiated with a Sell at WBB Securities; tgt of $7.25 (MELA) 10.75 : WBB Securities initiates MELA with a Sell and establishes a tgt of $7.25. The firm notes that MELA has developed a device that uses LEDs, silicon sensors and computer-controlled analysis to determine whether or not a suspicious lesion requires a biopsy. The firm believes MELA has an innovative device for detecting skin cancer. However, due to delays of approval of its device and the current economic environment, they believe the co is overvalued in the market at present. Over the longer term it remains to be seen whether MELA's unusual marketing strategy of directing sales to affluent patients in select regions within the US rather than insurance reimbursement will be successful.

9:09AM Unsafe Trade -09/32 3.238%...euro 1.5016...yen 86.5342 (BONDX) : The market is getting some payback from the inactivity on the stunted Friday session with the Dubai debacle getting some wrinkles ironed out thanks to the UAE and their bank (but not Dubai World) bail-out. The market has taken some reassurance as the situation was less dominant in the news while seeing so corrective trade. Libor was set higher but remains near record lows on the 3-mo dollar rate. The market will be under pressure on the back of the holiday-week buying spree with the well received auctions and general disarray. Trade will be supported however, as the week is free of large, added supply. The curve has been wound back to a steeper pose with the 2-10-yr yield spread running 254.9. The buck saw its safety bid leak out Friday and was pushed lower with the index backed off to under 74.50. The euro was backed off its 1.5080 high as a run of data while holding under 130 on the yen. The yen was offered as officials continued to threaten intervention in less veiled terms and also as the safe-haven chase was slowed on the less dire Dubai contagion news, but remains near the best levels since 1995. Data has Chicago PMI (9:45) and the usual 3-and-6-mos, with $30B and $31B offered respectively.

9:09AM On The Wires : Cyclacel Pharmaceuticals (CYCCP) announces the publication in the Journal of Clinical Oncology of a Phase 1 study evaluating clinical and pharmacokinetic effects of sapacitabine, an orally available nucleoside analog, in 47 patients with refractory or relapsed acute leukemias and myelodysplastic syndromes. The study was led by Hagop Kantarjian, MD and colleagues at The University of Texas M. D. Anderson Cancer Center, Houston, Texas... TRC Companies (TRR) has been selected by the West Virginia Department of Transportation's Division of Highways to provide construction inspection services for a new section of the Appalachian Corridor H located in northeast West Virginia. When completed, the entire Corridor H will cover an ~110-mile stretch of highway extending from Elkins, West Virginia to the Virginia State Line near Strasburg, Virginia... Inovio Biomedical Corporation (INO) announces that its partner Tripep AB of Sweden has completed its phase I clinical study of its ChronVac-C hepatitis C virus DNA vaccine delivered using Inovio's electroporation technology... PositiveID Corporation (PSID) announces that it has entered into a strategic alliance with Innovations Avocare, to develop, implement, distribute and use PositiveID's Health Link personal health record within the medical facilities, physician networks and related healthcare providers participating in the State of Florida regional health information organization... Exceed Company (EDS) confirms, as it announced last week, that it is offering the holders of all 10,890,000 outstanding warrants to acquire ordinary shares of the Company through warrant for share exchange. Co is modifying the terms of the Warrants to permit, instead of paying the purchase price of $5.25 in cash, the exchange of 3.96 Warrants for one Ordinary Share... HCC Insurance Holdings (HCC) announces that it has been granted Lloyd's approval to merge syndicates 4040 and 4141 for the 2010 year of account. The insurer has successfully achieved the buy-out of the external names on syndicate 4040 and will merge it with its wholly aligned syndicate 4141... CSG Systems International, (CSGS) announces that it has entered into a new multi-year agreement for Dish Network's (DISH) nearly 14 million customers that includes a 3-year commitment for customer care and billing services through December 31, 2012, and a 5-year commitment for print and mail services through December 31, 2014.

9:06AM Fushi Intl appoints Joseph Longever as Co-Chief Executive Officer effective November 23, 2009 (FSIN) 7.90 :  

9:05AM Mosaic announces segment realignment and phosphate asset write-offs (MOS) 54.35 : Co announced today that it has realigned its business segments to more clearly reflect the Company's evolving business model. The realignment includes moving from three to two business segments by combining the Offshore business segment with the Phosphates business segment. There are no changes to the Potash business segment. The Company also announced the permanent closure and write-off of assets at the Green Bay plant and South Pierce phosphoric acid plant that were idled in 2006, in addition to other machinery and equipment in the Company's Florida phosphates operations. The estimated charge associated with these actions will approximate $50 million pre-tax, is non-cash and will be recorded during the Company's second fiscal quarter ended November 30, 2009. These actions are part of a broad effort to improve returns on invested capital in the Company's phosphates business segment by eliminating idle operating capital and reducing operating costs.

9:05AM Albemarle to increase price of of SAYTEX HP-900 brominated flame retardant (ALB) 33.84 : Co announces that it will increase the price of SAYTEX HP-900 flame retardant by 20%, effective Jan 1, 2010, or as its contracts allow.

9:05AM Magnum Hunter announces $10 mln preferred stock offering (MHR) 1.64 :  

9:03AM DepoMed filed a lawsuit against Lupin for infringement of the patents (DEPO) 3.23 : Co announced that it has filed a lawsuit in the United States District Court for the Northern District of California against Lupin Limited and its wholly-owned subsidiary, Lupin Pharmaceuticals, for infringement of the patents listed in the Orange Book for GLUMETZA (metformin hydrochloride extended release tablets).

9:03AM Biomarin Pharm Grants Orphan Drug Designation for 3,4-DAP for LEMS (BMRN) 16.46 : Co announced that the Food and Drug Administration (FDA) has granted orphan drug designation for 3,4-diaminopyridine (3,4-DAP), amifampridine phosphate, for the rare autoimmune disease Lambert Eaton Myasthenic Syndrome (LEMS). 3,4-DAP has previously received orphan drug designation in the E.U. Also, in October 2009, the Committee for Medicinal Products for Human Use of the European Medicines Evaluations Agency adopted a positive opinion recommending approval of amifampridine phosphate for LEMS. If approved by the European Commission, amifampridine phosphate will be the first approved treatment for LEMS, thereby conferring orphan drug protection and providing ten years of market exclusivity in Europe. "We look forward to meeting with the FDA in early 2010 to determine the necessary regulatory path for amifampridine phosphate in the U.S. We are also preparing to launch the product in Europe in the first quarter of 2010, and will also evaluate the best development strategy for amifampridine phosphate in other indications in the U.S. and Europe."

9:02AM American Science & Engineering receives multimillion dollar order for two ZBV Systems from a Middle East Customer for counterterrorism applications (ASEI) 69.71 : Co announces the receipt of a multimillion dollar order from a Middle East customer for two Z Backscatter(TM) Van systems (ZBV(TM)). Configured for harsh environments, the ZBV systems will be utilized for counterterrorism applications including securing government facilities and mobile checkpoints. "AS&E continues to increase its ZBV installed base in the Middle East."

9:01AM Tollgrade names Michael D. Bornak Chief Financial Officer and Treasurer (TLGD) 6.01 : Co announces that its Board of Directors approved the appointment of Michael D. Bornak as the Company's chief financial officer and treasurer. Bornak, a senior finance executive with more than 20 years of experience in public and private companies, has been serving as Tollgrade's interim CFO since September of this year. His appointment is effective immediately.

9:01AM Rock-Tenn announced a $40 per ton price increase on all grades of coated recycled paperboard, effective with shipments on January 4, 2010. (RKT) 45.35 :  

8:39AM On The Wires : LaBarge (LB) has received a $1.3 million contract from Raytheon Missile Systems (RTN) to continue to provide complex cable assemblies for the upgraded Rolling Airframe Missile (RAM) Guided Missile Weapon System... Spot, a wholly-owned subsidiary of Globalstar (GSAT) announced it has expanded coverage in Africa for the SPOT Satellite Messenger products. The expansion is a result of an applique installation in the new satellite ground station in Kaduna, Nigeria... Refuse operators in Florida, New Jersey, Idaho and California have opened new compressed natural gas fuel stations to support deployment of their growing fleets of CNG refuse collection trucks. The new CNG stations were designed and built by Clean Energy Fuels (CLNE) for Choice Environmental Services, Central Jersey Waste, Allied Waste Services, and South County Sanitary Company... Ball Aerospace & Technologies (BLL) has been selected by NASA's Goddard Space Flight Center to build a second Global Precipitation Measurement Microwave Imagerin support of the Global Precipitation Measurement mission.

8:35AM On The Wires : Otter Tail (OTTR) announces public offering of senior unsecured notes; principal amount not disclosed... Spartan Motors Chassis, a subsidiary of Spartan Motors (SPAR), announced an expanded three-year agreement for the design, manufacturing and assembly of custom chassis in support of Fleetwood RV's high-quality brand of Class A diesel recreational vehicles, including American Coach products.

8:33AM Standard Motor announces that it has sold its European distribution business to the current managers of the business for $3 mln (SMP) 9.06 : Co announces that it has sold its European distribution business to the current managers of the business for pounds Sterling 1.8 mln ($3 mln) in cash and a promissory note and approx pounds Sterling 1.9 mln ($3.1 mln) in assumed debt. The Company will retain its manufacturing operation in Poland, certain land available for sale in the United Kingdom, and a small investment in a joint venture. The proceeds from the sale will be used to pay down debt. The Company estimates non-cash charges for the transaction would range from pounds Sterling 4.0 mln ($6.6 mln) to pounds Sterling 4.5 mln ($7.4 mln). (U.S. dollar equivalents are calculated at an assumed foreign currency exchange rate of GBP 1.65.)

8:33AM Great Basin Gold reports on the progress of the power supply to its Burnstone Mine project (GBG) 1.54 : Co reports on the progress of the power supply to its Burnstone Mine project in South Africa. All design work for the first of two lines between a proposed switching station (positioned between Grootvlei Power Station and Burnstone Mine) has been completed and material ordered, with construction scheduled to commence early January 2010. The proposed refurbishment of two existing lines between Grootvlei and the proposed switching station is currently being finalized and is also planned to commence in early 2010.

8:33AM Kennedy-Wilson and Siguler Guff Form $108 mln joint venture to purchase distressed condominium projects (KWIC) 9.10 : Siguler Guff and Kennedy Wilson announce a joint venture with a total equity commitment of up to ~ $108 mln, to pursue acquisition and repositioning opportunities of distressed assets with a focus on residential condominium projects. The joint venture intends to acquire both debt and equity interests in properties through Kennedy Wilson's sourcing network. In the State of California alone, Kennedy Wilson estimates that there are approximately 450 condominium projects with 37,000 unsold units.

8:32AM Caterpillar announces acquisition of JCS Co., Ltd. (CAT) 57.45 : Co announces it has entered into an agreement to acquire JCS Co., Ltd., a subsidiary of Jinsung T.E.C. Co., Ltd., a South Korea-based manufacturer that specializes in producing undercarriage components for earthmoving and other off-road machinery. The acquisition builds on a strong, existing relationship between Caterpillar and Jinsung T.E.C. Currently Jinsung supplies Caterpillar with rollers, idlers and metal-faced seals used on a wide range of Caterpillar machines. The acquisition of JCS will provide Caterpillar proprietary technology to competitively produce highly engineered seals that will improve machine undercarriage reliability and durability. The acquisition, which is subject to, among other things, regulatory approval, is expect to be finalized in early 2010. Financial terms were not disclosed.

8:31AM Sanofi-Aventis unit signs exclusive licensing agreement with Intelliject (SNY) 38.43 : Sanofi-aventis (SNY) U.S. announced the signing of an exclusive licensing agreement with Intelliject for a novel epinephrine auto injector for the emergency treatment of allergic reactions (anaphylaxis) in North America (U.S. and Canada). Sanofi-aventis will be responsible for manufacturing and commercial activities in North America. Intelliject will be responsible for the on-going development and regulatory submission in the U.S. In addition, Intelliject has retained certain rights to co-promote the product in the U.S. Under the terms of the agreement, sanofi-aventis U.S. will make an upfront payment and Intelliject will be eligible for future milestone payments and royalties on product sales.

8:31AM Coast Distribution System announces extension of bank credit facility (CRV) 3.25 : Co reports that it has reached an agreement with Bank of America that extends the maturity date of the Company's existing senior secured bank revolving credit facility from May 10, 2010 to July 10, 2011. "We are very pleased to have successfully extended this important borrowing facility, which provides us with the financial support and flexibility needed to take advantage of the opportunities that lie ahead for Coast."

8:10AM On The Wires : Alliant Techsystems (ATK) has received a $5 mln contract from the US Army for the first phase of the Army's Accelerated Precision Mortar Initiative. ATK is one of three companies selected for the first phase of the competition... Hughes Network Systems (HUGH) announces that it has shipped an aggregate of over 2.1 mln satellite terminals as of Q3 2009... Allos Therapeutics (ALTH) announces that the United States Patent and Trademark Office has issued a patent for the use of FOLOTYN for the treatment of T-cell lymphoma... Digital Angel (DIGA) announces that its SARBE unit has been awarded a contract to supply latest-generation Personal Locator Beacons to the Republic of Singapore Air Force. This initial contract of approximately $100,000 represents just a portion of the total projected demand from the RSAF, which is expected to exceed $2 mln over the next two years.

8:06AM Novavax completes ernrollment in Phase IIa study of seasonal influenza vaccine in older adults (NVAX) 3.00 : Co announces that it has completed enrollment in the Phase II clinical study of its trivalent seasonal influenza VLP vaccine candidate in healthy adults 60 years of age or older. This randomized, double-blind, active-controlled study is comparing the safety, tolerability and immunogenicity of two different doses of Novavax's trivalent seasonal influenza VLP vaccine to a commercially available trivalent inactivated vaccine, TIV. "With the rapid completion of enrollment in this clinical trial as well as the first part of our H1N1 vaccine study in Mexico announced previously, we are on track to report results from our two most advanced clinical programs during the first quarter of next year," said Dr. Rahul Singhvi, President and Chief Executive Officer of Novavax. "If results from the seasonal flu vaccine study are positive, we will be able to advance this program into Phase III clinical testing as early as 2010."

8:04AM Uranium Energy finalizes agreement to purchase Texas assets from Everest Exploration (UEC) 3.10 : Co announces that it has now entered into a formal asset purchase agreement with Everest Exploration, to acquire substantially all of the assets of Everest including its 1%-interest in the South Texas Mining Ventur. This announcement follows the Company's news release on October 14, 2009 of an agreement to purchase 99% of STMV from a subsidiary of Uranium One Inc., and an agreement in principle with Everest to purchase its 1% interest. To purchase Everest's assets the Company has agreed to issue 200,000 shares of its common stock and to make an aggregate cash payment of $1,000,000 to Everest to be used, in part, for final reclamation of two properties previously mined and restored by Everest.

8:03AM Citigroup announces that Willem Buiter will join the Firm as Chief Economist effective January 2010 (C) 4.08 :  

8:03AM Delta Petroleum announces review of strategic alternatives (DPTR) 0.92 : Co announces that it has retained Morgan Stanley and Evercore Partners to evaluate and advise the Board of Directors on strategic alternatives to enhance shareholder value. This will include, but not be limited to, exploring the sale of some or all of the Company's assets, partnerships and joint venture opportunities, and the sale of the entire Company.

8:01AM Vistaprint terminates all membership program offerings and reaffirms financial guidance (VPRT) 53.10 : Co announced that it has terminated its contract with an affiliate of Vertrue, Inc., effective December 20, 2009, and that, effective as of November 23, 2009, no membership rewards or similar programs have been or will be available to any Vistaprint customers. The company also reaffirmed its previously announced revenue and earnings per share guidance for the quarter ending December 31, 2009 and the full fiscal year ending June 30, 2010, as set forth in the press release issued on October 29, 2009 under the heading "Financial Guidance as of October 29, 2009." In early 2008, the company announced that it expected third-party revenue from membership rewards programs to decline over time, possibly to as low as $0 by the end of calendar 2010, primarily as a result of its strategy of rapidly expanding its own product and services offerings and diversifying the types of non-membership, third-party products and services made available to the company's customers on its website. Since then revenue from membership programs has decreased from 6.2% of Vistaprint's total revenue for the 2008 full fiscal year ended June 30, 2008 to 2.3% of revenue during the first fiscal quarter of 2010 ended September 30, 2009. "Although our decision to end the Vertrue relationship during our second fiscal quarter will result in a lower contribution from membership programs to both our revenues and net income for the year, we believe this reduction will not impact our ability to achieve our previously issued financial guidance," said Michael Giannetto, the company's chief financial officer. "Therefore, we are reaffirming our revenue and earnings per share guidance for the 2010 second fiscal quarter and full fiscal year, which we previously announced in a press release issued on October 29, 2009." Vistaprint's termination of the Vertrue relationship and elimination of all membership program offerings is in line with the company's previously stated strategy. The company believes it is also appropriate at this time in light of the recent United States Senate Commerce Committee inquiry into a variety of membership rewards programs, including the sufficiency of their disclosures to consumers. Lawrence Gold, the company's general counsel, commented that "Vistaprint's website clearly disclosed the terms of the Vertrue membership programs previously offered to Vistaprint customers in conformity with all legal requirements, as the United States District Court for the Southern District of Texas ruled when it dismissed a purported class action lawsuit against a Vistaprint subsidiary and two Vertrue-related entities in August of this year." 

8:01AM Resource Capital announces common stock follow-on offering of ~ $50 mln (RSO) 5.15 :  

8:01AM Federal Signal sells Pauluhn Electric Assets to CBE (FSS) 5.56 : Cooper Industries (CBE) announced the acquisition of Texas-based Pauluhn Electric from Federal Signal Corporation (FSS). Pauluhn Electric is a leading provider of specialized marine, offshore and industrial lighting and connecting product solutions for harsh and hazardous locations and corrosive environments. Terms of the transaction were not disclosed.

8:00AM Eli Lilly: FDA approves Cymbalta for maintenance treatment of Generalized Anxiety Disorder (LLY) 36.90 : Co announces that the U.S. Food and Drug Administration has approved Cymbalta for the maintenance treatment of generalized anxiety disorder in adults. Cymbalta also is approved for the acute and maintenance treatment of major depressive disorder, the management of diabetic peripheral neuropathic pain and fibromyalgia, and for the acute treatment of generalized anxiety disorder, all in adults.

7:50AM Cell Therapeutics announced that its bis-platinates demonstrated a stronger anti-tumor potency (CTIC) 1.11 : Co announced that its new class of platinum-based anti-tumor compounds, termed bis-platinates, demonstrated a stronger anti-tumor potency and activity compared to currently available platinum-based compounds as well as the ability to overcome cisplatin-resistance in cancer cell lines. The research demonstrated through cancer cell assays and animal tumor models that the bis-platinum complexes exhibited greater cytotoxic potency and anti-tumor effect compared to cisplatin and oxaliplatin. There was more than a 200-fold increase in percent accumulation in tumor cells of the bisplatinum compounds compared to cisplatin and oxaliplatin. The bisplatinates were substantially more active against human tumors grown in an immunodeficient preclinical model than the standard palatinate compounds, oxaliplatin, carboplatin and cisplatin. Furthermore, the bis-platinum compounds demonstrated the ability to overcome tumor resistance to cisplatin mediated by DNA mismatch repair defects. The complexes showed marked anti-tumor efficacy in platinum refractory tumors, with significant activity in terms of tumor growth inhibition and tumor growth delay.

7:39AM On The Wires : Praxair (PX) China has signed a contract with Hainan China Aviation Special Glass Materials, a subsidiary of China Aviation Sanxin to supply oxygen and high purity nitrogen for a 100% oxy-fuel float glass furnace, the first of its kind in China... Thomson Reuters (TRI) announced that it has acquired the business of ASSET4 AG, a Swiss-based, provider of Environmental, Social Responsibility and Governance information and tools for professional investors and corporate executives... WNS (WNS) announced it has been awarded a multi-year contract with Chiquita Brands International (CQB) to deliver finance and accounting services. Under this multi-year agreement, WNS will provide finance and accounting back office services to Chiquita's business entities in North America, Europe and Latin America. The contract with Chiquita marks WNS's entry into Latin America where the company will look to significantly expand and grow its business... Las Vegas Sands (LVS) said that as a result of its recent fundraising activities it has raised ~$5 billion of combined debt and equity financing. Early Monday morning in Hong Kong, one of its subsidiaries, Sands China, was listed on the Stock Exchange of Hong Kong after completing an initial public offering (IPO) that raised a total of $3.1 billion -- which was comprised of the $2.5 billion listing and $600 million that was raised in a pre-IPO exchangeable bond financing transaction completed in September... Talisman Energy (TLM) has made the necessary filings to renew its Normal Course Issuer Bid. Co may purchase for cancellation, during the 12-month period commencing December 2, 2009 and ending December 1, 2010, up to 50,945,743 of its common shares, representing 5% of the common shares outstanding as at November 18, 2009... Cardiac Science (CSCX) announced a partnership with eClinicalWorks, a leading provider of EMR systems. As a result of this partnership, 30,000 eClinicalWorks physician users across 5,000 medical practices now have the ability to connect their Quinton and Burdick ECG, cardiac stress test, and Holter systems with the eClinicalWorks EMR. Similarly, Cardiac Science's installed customer base of more than 65,000 diagnostic monitoring devices can connect with eClinicalWorks and be assured the test results will flow smoothly into the medical record system.

7:32AM Amazon.com reports November is already the best sales month ever for Kindle (AMZN) 131.74 :  

7:30AM Vanguard Natural Resources announces it has entered into a definitive agreement to acquire producing oil and gas assets in the Permian Basin for $55 mln from a private seller (VNR) 17.95 : Co announces it has entered into a definitive agreement to acquire producing oil and gas assets in the Permian Basin for $55 million from a private seller. The properties to be acquired have estimated total proved reserves of 3.2 mln barrels of oil equivalent, of which approx 83% are oil reserves and 65% are proved developed. Current net production attributable to the assets being acquired is approx 780 Boe/d. At closing, Vanguard will operate the majority of the producing wells located on the acquired properties. After closing this transaction, management intends to recommend to the Company's Board of Directors an increase in the quarterly distribution rate for the fourth quarter 2009 distribution payable on February 14, 2010. The Company is currently distributing $0.50 per quarter ($2.00 annualized). The Company intends to fund this acquisition with borrowings under its existing reserve-based credit facility. Vanguard has requested that the banks perform an interim borrowing base redetermination to include the properties from this acquisition. They anticipate an increase to the current borrowing base of $170 mln to take into account the additional value of the assets being acquired.

7:26AM Merrill Lynch: Now's the time for Israel - Globes[online] : Globes[online] reports that Bank of America Merrill Lynch has come out with a report strongly recommending Israel as a defensive haven among emerging markets. In part, this based on experience. "True to its traditional role of GEM diversifier, Israel has outperformed EM throughout each of seven major global corrections since 1993. Based on historical data from MSCIBarra, the MXIL Index outperformed the MXEF Index by an average of 23%. In the recent 2008-2009 sub-prime financial crisis, Israel outperformed emerging markets by 30%," analysts Haim Israel, Micha Goldberg, and Mai Doan write. The report gives five reasons for investing in Israel now: (1) resilient economic performance vs. GEM as the local recession ended two quarters ago; (2) lack of excess positioning as investors remain underweight Israel; (3) strong currency vs. the US dollar; (4) substantial domestic liquidity support; and (5) Israel's traditional role as GEM's beta diversifier. Besides Teva and the healthcare sector in general, Merrill Lynch picks out telecommunications, particularly Partner and Bezeq, and the banks, particularly Leumi and Mizrahi-Tefahot, as good bets. "Although Teva and the healthcare space are perceived by the market as natural candidates to park money in times of uncertainty, we believe this could be the time for Israeli banks and telcos to shine," the report says.

7:26AM Merrill Lynch: Now's the time for Israel - Globes[online] (EIS) : Globes[online] reports that Bank of America Merrill Lynch has come out with a report strongly recommending Israel as a defensive haven among emerging markets. In part, this based on experience. "True to its traditional role of GEM diversifier, Israel has outperformed EM throughout each of seven major global corrections since 1993. Based on historical data from MSCIBarra, the MXIL Index outperformed the MXEF Index by an average of 23%. In the recent 2008-2009 sub-prime financial crisis, Israel outperformed emerging markets by 30%," analysts Haim Israel, Micha Goldberg, and Mai Doan write. The report gives five reasons for investing in Israel now: (1) resilient economic performance vs. GEM as the local recession ended two quarters ago; (2) lack of excess positioning as investors remain underweight Israel; (3) strong currency vs. the US dollar; (4) substantial domestic liquidity support; and (5) Israel's traditional role as GEM's beta diversifier. Besides Teva and the healthcare sector in general, Merrill Lynch picks out telecommunications, particularly Partner and Bezeq, and the banks, particularly Leumi and Mizrahi-Tefahot, as good bets. "Although Teva and the healthcare space are perceived by the market as natural candidates to park money in times of uncertainty, we believe this could be the time for Israeli banks and telcos to shine," the report says.

7:20AM Retalix Board of Directors appoints Joshua Sheffer as New CEO; effective January 1 following previously announced departure of CEO Shaked (RTLX) 12.45 :  

7:15AM On The Wires : Three prominent philanthropic organizations - The Angel Fund, The ALS Therapy Alliance and Project ALS - dedicated to finding a treatment for amyotrophic lateral sclerosis have financed a new collaboration between one of the world's leading ALS researchers and RXi Pharmaceuticals Corporation (RXII). Robert Brown, MD, DPhil, Chair of the Department of Neurology at the University of Massachusetts Medical School in Worcester, will study the use of RXi's self-delivering rxRNA compounds as a potential treatment for ALS... Eurand N.V. (EURX) announces the commercial availability of ZENPEP Delayed-Release Capsules, a pancreatic enzyme product indicated for the treatment of exocrine pancreatic insufficiency due to cystic fibrosis or other conditions... Spectrum Pharmaceuticals (SPPI) announces that one of the two Phase 3 pivotal clinical trials of apaziquone has achieved its enrollment target, having enrolled approximately 800 patients with non-invasive bladder cancer. The second Phase 3 clinical trial of apaziquone is expected to complete enrollment by the end of the year... Federal Signal (FSS) announces that it has completed the sale of its industrial lighting manufacturer subsidiary, Pauluhn, to the Cooper Crouse-Hinds division of Cooper Industries (CBE) for $35 mln.

7:08AM Henry Schein Animal Health and Butler Animal Health will combine to form the leading supplier to U.S. companion animal veterinarians (HSIC) 50.37 : Henry Schein and Butler Animal Health Supply announce an agreement to form Butler Schein Animal Health, a new company that will combine Butler Animal Health Supply and Henry Schein's U.S. animal health businesses. The new company will be 50.1%-owned by Henry Schein and 49.9%-owned by the owners of Butler Animal Health Supply, including Oak Hill Capital Partners and The Ashkin Family Group. Butler Schein Animal Health will be the leading U.S. companion animal health distribution company with combined revenues for the last 12 months of approximately $850 mln on a U.S. GAAP basis. At closing, in addition to the contribution of its U.S. Animal Health businesses, Henry Schein will pay approximately $55 mln in cash. As part of a recapitalization at closing, Butler Schein Animal Health will incur approximately $300 mln in debt, which will be reflected on the consolidated balance sheet of Henry Schein. The owners of Butler will receive a total of approximately $155 mln in cash from the transaction with Henry Schein and the recapitalization. In 2011, Oak Hill Capital Partners will have the option to begin selling its remaining interest to Henry Schein. The Ashkin Family Group has similar rights beginning five years after the closing. The transaction is expected to close at year-end and is likely to be dilutive to Henry Schein's earnings by $0.02 to $0.04 in 2010, primarily due to integration expenses. In 2011, the transaction is expected to be accretive to Henry Schein's earnings by $0.02 to $0.04.

7:06AM UnitedHealth affirms FY09 and FY10 outlook ahead of investor conference on Dec 1 (UNH) 29.44 : Co reaffirms guidance for FY09 (Dec), sees EPS of $3.15 vs. $3.16 First Call consensus. Co reaffirms guidance for FY10 (Dec), sees EPS of $2.90-3.10 vs. $3.08 consensus; sees FY10 (Dec) revs of $88.5-89.5 bln vs. $89.44 bln consensus.

7:01AM Theravance announces that EMEA has completed the validation phase for the Telavancin MAA for the treatment of nosocomial pneumonia and complicated skin and soft tissue infections (THRX) 13.13 : Co announces the European Medicines Agency (EMEA) has completed the validation phase for the Marketing Authorization Application for telavancin, a bactericidal, once-daily injectable lipoglycopeptide antibiotic, for the treatment of nosocomial pneumonia, including ventilator-associated pneumonia, and complicated skin and soft tissue infections in adults. Astellas Pharma Europe B.V., a European affiliate of Astellas Pharma Inc. submitted the MAA in October 2009 under the Centralized Procedure and applied for marketing authorization for telavancin in the Member States of the European Union, plus Iceland, Liechtenstein and Norway. The successful completion of the validation phase for a MAA signifies that the submission is administratively complete and that EMEA's scientific review process has begun.

6:28AM S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -9.00. :

6:28AM European Markets : FTSE...5197.12...-48.60...-0.90%. DAX...5610.85...-75.00...-1.30%.

6:28AM Asian Markets : Nikkei...9345.55...+264.00...+2.90%. Hang Seng...21821.50...+687.00...+3.30%.

6:14AM American River Bankshares announces $22.0 mln common stock offering (AMRB) 6.10 :  

6:13AM Clarient granted exclusive license to commercialize cancer biomarker by Minerva Biotechnologies (CLRT) 2.35 : Co announces that privately held Minerva Biotechnologies has granted it the exclusive right to develop and commercialize a test that identifies the MUC1 protein, a biomarker researchers believe may be implicated in the spread of many cancers, including breast cancer.

3:19AM Rovi announces ruling on litigation with Virgin Media (ROVI) 29.65 : The High Court of Justice in the UK has issued its judgment in Rovi's patent infringement litigation against Virgin Media (VMED). Rovi had sued Virgin Media for infringing three interactive program guide patents issued in the U.K. The Court found that Virgin had infringed each of the patents but also found them to be invalid. "While we are pleased that the court found all of the patents to be infringed by Virgin, we strongly disagree with the court's ruling on the validity issues, and intend to appeal the decision. We also intend to continue to pursue Virgin and other unlicensed companies for their infringement of our intellectual property, to join the numerous companies who have already taken licenses to our patents issued throughout the world," said Samir Armaly, SVP of Worldwide Patent Licensing for Rovi.

2:16AM On The Wires : Sanofi-Aventis (SNY) announces that the European Commission has granted marketing authorization for Multaq (dronedarone - 400mg Tablets) in all 27 European member states... Constellation Brands (STZ) announces that it has entered into an agreement to sell its Gaymer Cider business to C&C Group PLC of Dublin Ireland for 45 million pounds Sterling, or approx $70 million, subject to closing adjustments.