6:04 pm Skyline Corporation comments on ongoing evaluation of strategic initiatives; sees transaction with Evergreen is aligned with strategic objectives (SKY) : Co announces its Board has established a special committee tasked to "evaluate strategic initiatives and make recommendations to the full Board. As part of its work, that committee, with input from our management team and advisors, plans to thoroughly evaluate all potential strategic proposals and other initiatives to further improve operations and strengthen our capitalization."
- Board believes the transaction with Evergreen is aligned with strategic objectives and is in the best interest of shareholders.
6:02 pm Zebra Tech announces pricing of its offering of $1.05 billion in aggregate principal amount of 7.25% senior unsecured notes due 2022 in a private offering (ZBRA) : Co announced the pricing of its offering of $1.05 billion in aggregate principal amount of 7.25% senior unsecured notes due 2022 in a private offering.
- The Notes were priced at 100% of par.
- Zebra intends to use the net proceeds from the Notes offering, together with cash on hand and proceeds from Zebra's previously announced senior secured term loan, upsized to $2.2 billion, to fund the $3.45 billion cash acquisition of the Enterprise business of Motorola Solutions (MSI), as well as to pay related transaction fees and expenses.
5:54 pm Dominion accepts FERC Order approving Cove Point LNG export project; plans to start construction in the very near future (D) : Co notified the Federal Energy Regulatory Commission that it has accepted the commission's order approving the Cove Point LNG liquefaction and export project and all of FERC's environmental conditions.
5:40 pm SunEdison announces closing of $50 million debt financing arrangement; proceeds will finance construction of a SUNE owned 23.8 megawatt (MW) DC solar power plant in Southern Jordan (SUNE) : Co announced the closing of a $50 million debt financing arrangement with the European Bank for Reconstruction and Development and the Overseas Private Investment Corporation.
- The debt proceeds will be used to finance the construction of a SunEdison owned 23.8 megawatt (MW) DC solar power plant in the Ma'an Governate, in Southern Jordan.
- Construction will begin in Q4 2014 and interconnection is expected to take place in Q3 of 2015.
5:38 pm Intellipharmaceutics Intl announces resignation of Chief Financial Officer (IPCI) : Co announced the resignation of Shameze Rampertab, Vice President, Finance and Chief Financial Officer, who is leaving the Company effective October 10, 2014 to pursue an opportunity in the medical devices industry.
- The Company has commenced a search to fill Mr. Rampertab's role. Pending the hiring of a replacement for Mr. Rampertab, the functions of Chief Financial Officer for Intellipharmaceutics will be carried out by the Company's President and former Chief Financial Officer, Dr. Amina Odidi.
5:33 pm Vornado Rlty Trust announces impact of Toys "R" Us' second quarter financial results (VNO) : Co announced its 32.7% share of Toys "R" Us' second quarter financial results that it will record in its third quarter ending September 30, 2014. Vornado's results will include a net loss of $18,418,000 or $0.09 per diluted share, compared to a net loss of $34,209,000, or $0.17 per diluted share recorded in the quarter ended September 30, 2013.
5:32 pm 1-800-FLOWERS completes acquisition of Harry & David Holdings; now sees FY15 revenue in excess of $1.1 bln; sees FY15 EPS of $0.45-0.50 (FLWS) :
- These figures incorporate the acquisition and are not comparable to current analyst estimates.
- FLWS noted that the acquisition of Harry & David is significantly accretive to the Company's top and bottom line results before including any potential benefits from operating or revenue generating synergies.
- In the 9/11 earnings release, FLWS said the acquisition will increase total annual revenue "to more than $1 billion"
5:31 pm Tekmira Pharma now trading +21% in after-hours at $25.75 on reports of confirmed Ebola case in Dallas, TX; others moving include HEB, NLNK, LAKE, BCRX, NNVC (TKMR) :
- As mentioned earlier, it has been reported that the first U.S. Ebola case was confirmed in Dallas, TX
- The CDC will hold a news conference at 5:30 pm ET on U.S. Ebola case
- The FDA has authorized the use of TKMR's TKM-EBOLA in patients with confirmed or suspected Ebola virus infections.
- TKMR is the biggest gainer in after-hours related to this news
- Other stocks moving in reaction:
- HEB +18.8%
- NLNK +15.8%
- LAKE +15.1%
- BCRX +14.0%
- NNVC +13.0%
- SRPT +6.2%
- INO +4.1%
- Other potentially related stocks, not moving at this point: SIGA, IBIO, GSK, AMGN
- Airline stocks moving lower include AAL -2.3%, JBLU -2.0%, HA -1.9%, UAL -1.7%, LUV -1.7%, DAL -1.2%
5:13 pm Endo Health announces master settlement agreements to resolve substantially all of the AMS U.S. vaginal mesh-related claims (ENDP) : Co announced that it has reached master settlement agreements with several of the remaining leading plaintiffs' law firms to resolve claims relating to vaginal mesh products sold by Endo's AMS subsidiary.
- The agreements, were entered into solely by way of compromise and settlement and are not in any way an admission of liability or fault.
- The settlements are expected to resolve substantially all of the AMS U.S. vaginal mesh-related claims.
- Endo previously established a pre-tax product liability reserve of approximately $1.2 billion. As a result of these additional agreements described above, the Company expects to increase its pre-tax product liability accrual for all known, pending and estimated future claims primarily related to vaginal mesh products to approximately $1.6 billion in total. AMS expects to fund the payments under all settlements in 2014, 2015, 2016 and 2017.
5:07 pm ClubCorp continues to evaluate various potential REIT strategies; no assurance that the Company will change its current business strategy or effectuate a REIT conversion (MYCC) :
- The Company and its Board are reviewing the letter as part of their ongoing evaluation of various potential REIT strategies, which the Company discussed during its last two earnings calls.
- The implementation and operational complexities being evaluated include the application of highly technical provisions of the Internal Revenue Code that govern REIT qualification.
- In light of this and various factual determinations not entirely within the Company's control, there can be no assurance that the Company will change its current business strategy or effectuate a REIT conversion.
- As the Company announced previously, it expects to provide updated information on its evaluation by the end of this year.
5:06 pm Hecla Mining agreed to acquire 3,095,238 units of Canamex Resources Corp (HL) : Co announced that a wholly owned subsidiary of Hecla has entered into a subscription agreement pursuant to which it has agreed to acquire 3,095,238 units of Canamex Resources Corp.
- Each unit is comprised of one common share and one-half of a common share purchase warrant (the "Units").
- Each common share purchase warrant is exercisable for a period of two years from the date of issuance at a price of $0.30 per share.
- The 3,095,238 common shares comprised in the Units to be acquired by Hecla Canada represent 2.4% of the outstanding common shares of Canamex upon completion of the private placement to Hecla.
5:04 pm TherapeuticsMD announced that the U.S. Patent and Trademark Office has issued two new patents related to the company's proprietary SYMBODA technology platform (TXMD) :
5:03 pm American Realty Capital promotes David S. Kay to CEO and Lisa E. Beeson to President (ARCP) : Co announced that effective October 1, 2014, as previously communicated through its shareholder letters, David S. Kay will become Chief Executive Officer and Lisa E. Beeson will become President. Nicholas S. Schorsch, who had served as CEO, will remain Chairman of the Board. Mr. Kay joined the company as President in December 2013. Ms. Beeson joined the company in October 2013 as Chief Operating Officer, and will continue to serve in that capacity in addition to assuming her role as President.
5:02 pm Retrophin appointed Stephen Aselage as interim CEO, effective immediately, to replace Martin Shkreli, Founder and CEO (RTRX) : Co's Board of Directors has appointed Stephen Aselage as interim CEO, effective immediately, to replace Martin Shkreli, Founder and CEO.
- The Company intends to appoint additional independent directors with robust industry experience in the near term, and discussions with candidates are ongoing.
- The Board will soon commence a search for a permanent CEO.
5:02 pm Bristol-Myers to transfer $1.4 bln in U.S. pension obligations to Prudential (PRU) (BMY) : Co announced it will settle $1.4 billion in pension obligations through the purchase of a group annuity contract from The Prudential Insurance Company of America (PRU) for approximately 8,000 U.S. retirees and their beneficiaries who started receiving their monthly retirement benefit payments on or before June 1, 2014.
4:54 pm Tekmira Pharma now trading +16% in after-hours at $24.50 on reports of confirmed Ebola case in Dallas, TX (TKMR) :
- As mentioned earlier, it has been reported that Ebola was confirmed in a Dallas, TX patient
- The FDA has authorized the use of TKMR's TKM-EBOLA in patients with confirmed or suspected Ebola virus infections.
- Related: BCRX, TKMR, DRTX, SIGA, NNVC, IBIO, HEB, SRPT, LMNX, AMGN
4:46 pm CoreLogic announced sale of Collateral Solutions and Field Services business units of CLGX (CLGX) : Co announced the completion of the sale of its Collateral Solutions and Field Services business units to Mortgage Contracting Services, LLC (MCS).
- Total consideration for the sale of Collateral Solutions and Field Services includes $25 million due at closing and an additional contingent amount of up to $20 million based on the achievement of certain performance thresholds during the year following the closing of the transaction.
4:33 pm Fifth Street Finance expands syndicated credit facility to $705 mln (FSC) : Co announced additional commitments from one new and one existing lender to its syndicated credit facility led by ING Capital LLC. As a result, the committed facility size increased by $25 million to $705 million.
4:32 pm HCC Insurance to acquire Producers Ag Insurance Group for $110 mln (HCC) : Co has reached a definitive agreement to acquire Producers Ag Insurance Group from CUNA Mutual Group in an all-cash purchase of ProAg's capital stock for $110 million, subject to a net worth adjustment at closing as described in the purchase agreement. The transaction, which is subject to regulatory approvals, is expected to close in the first quarter of 2015. ProAg's current management team will continue to operate the business.
4:29 pm Westport Innovations (halted) lowers FY14 rev guidance -- Matching investment and rev outlook with pace of mkt adoption (WPRT) : Co announced an update to its Westport high pressure direct injection (Westport HPDI) second generation or "HPDI 2.0" development program and identified plans to further refine investment programs to align with its original equipment manufacturer (:OEM) customers and the global pace of natural gas vehicle adoption and related infrastructure build out.
- Westport is changing its revenue outlook for the year ended December 31, 2014 based on three primary factors.
- First, continued market uncertainty in Westport's primary markets-Europe, Russia and China-have impacted revenue in the Applied Technologies business in the second half of 2014.
- Second, key OEM development partners are moving to the newly co-developed Westport HPDI 2.0 injectors, which are expected to lower the cost of the system and provide benefits noted above, but the revised development schedule will defer related service revenue milestone payments in the near term. Westport will, however, be able to reduce its overall program expenses, offsetting the reduction in service revenue; and synergies across multiple customer programs are expected to allow better long-term returns.
- Third, a Westport customer who placed a significant order for Westport iCE PACK LNG Tank Systems has been unable to provide sufficient comfort to Westport that it will be able to meet its obligations and requirements in respect of such orders, and as such Westport does not intend to ship product to this customer until such comfort has been received.
- Co lowers FY14 rev to $130-140 mln from $175-185 mln vs. $174 mln consensus.
- "Westport is developing high performance natural gas engines that will be produced on the same production lines as the most advanced diesel engines, and will set the technology standard as natural gas penetrates global markets in Asia, Europe and North America."
4:24 pm DR Horton announces CEO Donald Tomnitz to retire effective October 1, names COO David Auld as successor (DHI) : Michael Murray promoted to COO from his current role of Senior VP of Business Development.
4:17 pm Arctic Cat initiates all-terrain vehicle recall; Warranty expense will lead to one-time pre-tax charge of ~$5.4 mln (ACAT) : This recall affects an estimated 35,386 ATVs from the 2008 model year and 4,495 ATVs from the 2009 model year. The company will record a charge of approximately $5.4 million pretax (about $3.5 million after-tax, or $0.27 per diluted share) to cover warranty expense for the ATV repairs. Arctic Cat plans to take the non-recurring charge in the 2015 fiscal second quarter ending today, September 30, 2014.
4:16 pm Akorn acquires Xopenenx Inhalation Soplutions for approx $45 mln in cash; expects this transaction to add ~$18 million to $20 million in revenues and approximately $0.07 to $0.08 of net income per diluted share in 2015 (AKRX) :
- Co announced that it has signed a definitive agreement to acquire certain rights to short-acting bronchodilator Xopenex Inhalation Solution from Sunovion Pharmaceuticals Inc. for $45 million, paid in cash at closing, net of certain liabilities.
- Akorn expects this transaction to add approximately $18 million to $20 million in revenues and approximately $0.07 to $0.08 of net income per diluted share in 2015, excluding the impact of acquisition-related amortization.
- Akorn plans to ship product immediately upon closing the transaction.
4:15 pm Midstates Petroleum announces increase in revolver borrowing base (MPO) : Co announces that, as a result of its lenders' semiannual review, the borrowing base under its revolving credit facility has been increased by $50 million to $525 million. The borrowing base is supported by the company's Midcontinent assets only and on September 30, 2014 the company had $369 million drawn under this facility.
4:15 pm Xenith Bankshare announces senior term loan credit facility and private placement of common equity (XBKS) : Co announced the signing of a senior term loan credit agreement with a national bank providing for a senior unsecured term loan credit facility up to $15 mln under which the company initially has borrowed $12 mln.
- An additional $3 mln is available for a one-year period under a delayed draw term loan commitment.
- The company also announced the issuance and sale in a private placement to two investors of an aggregate of 880K shares of the co's common stock for $6.35 per share, resulting in total proceeds to the company of nearly $5.6 mln.
- A substantial portion of the net proceeds from this senior term loan and private placement will be contributed to Xenith Bank to fund organic loan growth, continued investment in infrastructure and personnel, and for other general corporate purposes.
4:15 pm Bill Barrett no longer expects to record this write-off in Q3 for Ruby Pipeline (BBG) : Co announced on September 16, 2014 that it may be required to record a non-cash write-off of its Ruby Pipeline and other firm transportation agreements for an estimated $128 million. After further review of the financial reporting guidelines, the Company no longer expects to record this write-off in the third quarter of 2014. The Company will continue to have the cash commitments associated with these contracts of ~$4.5 million per quarter.
4:13 pm Magnum Hunter subsidiary announces sale of certain non-core assets located in Divide County, North Dakota for ~23.05 mln in cash (MHR) : Co announced that Bakken Hunter, a wholly-owned subsidiary of the co, closed on the sale of certain non-core and non-operated working interests in oil and gas properties located in Divide County, North Dakota to a privately held company affiliated with Formation Energy L.P.
- The sales price of the Properties was $23,051,320 in cash, after taking into account customary purchase price adjustments, and was received by Magnum Hunter from this sale today.
- The Properties currently account for ~170 BOE of average daily production, net to the ownership interest sold to the buyer, and consist of a non-operated working interest in ~34,600 gross (2,852 net) leasehold acres.
4:11 pm Closing Market Summary: Third Quarter Ends on Defensive Note (:WRAPX) : The stock market finished the third quarter on a cautious note with small caps leading the retreat. The S&P 500 shed 0.3% to narrow its Q3 gain to 0.6%, while the Russell 2000 (-1.5%) widened its quarterly loss to 7.7%.
Equity indices endured another volatile affair after the S&P 500 alternated between gains and losses during the past five trading days. Today's retreat represented the second consecutive decline for the benchmark index, which registered a September loss of 1.6%.
The benchmark index displayed modest strength in the early going with help from influential sectors like technology (+0.2%), financials (-0.2%), and industrials (-0.1%). The three cyclical groups helped the S&P 500 climb to a late morning high at 1985.18, but the index spent the next two hours in a steady retreat.
The slide from highs took place amid significant weakness in the two commodity-related sectors. Most notably, the energy space (-1.2%) widened its Q3 loss to 9.2% and was pressured by a 3.6% decline in crude oil. The energy component finished the pit session at $91.16/bbl, which represented a 13.6% loss for the quarter.
Similarly, the materials sector (-1.2%) stumbled in reaction to sliding prices of metals. Silver plunged 2.9% to $16.85/ozt, while gold (-0.6% to $1211.40/ozt) and copper (-1.6% to $3.01/lb) held up a bit better.
Also weighing on commodities was the continued strength of the Dollar Index, which added 0.4% to book a 3.9% gain for the month and an even more impressive 7.8% surge for the third quarter.
On the upside, the technology sector (+0.2%) finished ahead of the remaining cyclical groups and helped the S&P 500 trim its loss into the close. Large cap components displayed strength with Apple (AAPL 100.75, +0.64), Cisco Systems (CSCO 25.17, +0.24), and Visa (V 213.37, +2.44) climbing between 0.6% and 1.2%. Meanwhile, chipmakers traded alongside small-cap stocks as evidenced by a 0.9% decline in the PHLX Semiconductor Index.
Likewise, the high-beta biotechnology group underperformed, causing the health care sector (-0.6%) to finish behind the other three countercyclical sectors. The iShares Nasdaq Biotechnology ETF (IBB 273.63, -2.43) lost 0.9%.
Treasuries registered losses after spending the entire session in the red. The 10-yr note fell seven ticks to send its yield higher by three basis points to 2.50%.
Today's participation was ahead of average with more than 910 million shares changing hands at the NYSE floor.
Economic data included Chicago PMI, Consumer Confidence, and the Case-Shiller 20-City Index:
- The Chicago PMI fell to 60.5 in September from 64.3 in August, while the Briefing.com consensus expected a decline to 61.5
- Even though the PMI dropped more than expected, the current reading is far from a disappointment. Levels have remained above 60 for five of the past six months, and readings above 60 are generally considered too strong for long-term stability
- The Conference Board's Consumer Confidence Index dropped to 86.0 in September from an upwardly revised 93.4 (from 92.4), while the Briefing.com consensus expected a fall to 92.0
- This was the lowest reading in the Consumer Confidence Index since May
- The Case-Shiller 20-city Home Price Index for July rose 8.1%, while a 7.4% increase had been expected by the Briefing.com consensus
- The reading followed June's increase of 8.1%
- Nasdaq Composite +7.6% YTD
- S&P 500 +6.7% YTD
- Dow Jones Industrial Average +2.8% YTD
- Russell 2000 -5.3% YTD
4:11 pm Synacor reaffirms Q3 guidance; raises FY14 EBITDA guidance; revises strategic plan (SYNC) :
- Co announced plans to streamline the business and focus R&D costs. These actions include a workforce reduction of approximately 70 positions, or about 20% of the Company's employees, effective at the end of the third quarter.
- Synacor reaffirms revenue and adjusted EBITDA guidance for Q3 2014, of $25.0 million to $26.0 million in revenue (Capital IQ consensus $25.3 mln) and ($0.5) million to $0.5 million in adjusted EBITDA, excluding one-time costs related to the reduction in workforce.
- For FY 2014, the Company reaffirms its revenue guidance of $100.0 million to $103.0 million (Capital IQ consensus $102.3 mln). FY 2014 adjusted EBITDA guidance increases from a range of ($2.5) million to ($1.0) million to a range of ($1.0) million to breakeven, excluding the one-time costs related to the reduction in workforce and a $1.0 million pretax gain from the sale in Q2 of a domain name.
4:09 pm Vital Therapies announced that it plans to commence an underwritten public offering of 2.5 mln shares of its common stock (VTL) :
4:09 pm Celldex Therapeutics announces publication of glembatumumab vedotin Phase 1/2 studies in the Journal of Clinical Oncology (CLDX) : Co announced the publication of two papers highlighting early studies of glembatumumab vedotin in breast cancer and metastatic melanoma in the Journal of Clinical Oncology. The papers, "A Phase 1/2 Study of the Antibody-Drug Conjugate Glembatumumab Vedotin in Patients with Advanced Melanoma" and "A Phase 1/2 Study of the Antibody-Drug Conjugate Glembatumumab Vedotin in Patients with Locally Advanced or Metastatic Breast Cancer" have been published as Early Release Articles on JCO's website and will appear in a future print edition.
- The article "A Phase 1/2 Study of the Antibody-Drug Conjugate Glembatumumab Vedotin in Patients with Advanced Melanoma," presents results from the first study of glembatumumab vedotin. The primary efficacy endpoint was the objective response rate (ORR.V) for the q3w expansion cohort. One hundred seventeen patients were treated using the q3w (n=79), q2/3w (n=15) or qw (n=23) schedules. The MTDs were 1.88, 1.5, and 1.0 mg/kg for the q3w, q2/3w and qw schedules, respectively.
- The most significant treatment-related toxicities were rash, fatigue, alopecia, neuropathy, and neutropenia. Three deaths were reported as potentially treatment related (resulting from pneumococcal sepsis, toxic epidermal necrolysis and renal failure) at doses exceeding the MTDs.
- In the q3w Phase 2 expansion cohort (n=34), five patients (15%) had a partial response (:PR) and eight patients (24%) had stable disease for greater than or equal to 6 months.
- The overall response rate (ORR.V) was 2 of 6 (33%) for the q2/3w schedule MTD and 3 of 12 (25%) for the qw schedule MTD.
4:07 pm XOMA initiates U.S. clinical trial of Gevokizumab in patients with Behcet's Disease Uveitis - EYEGUARD-US (XOMA) :
4:07 pm Ubiquiti Networks announced new dividend policy; first annual dividend of $0.17/share will be paid on October 28, 2014 (UBNT) : Pursuant to the Dividend Policy, the Company intends to pay an annual cash dividend to its shareholders of record on a record date and in an amount to be determined annually by the Board of Directors.
4:06 pm Anworth Mortgage announces the conversion rate of the Series B Preferred Stock will increase from 4.0919 shares of Anworth's common stock to 4.1519 shares of its common stock effective Oct 1, 2014 (ANH) :
- The co intends to fund the acquisition through operating cash flows and it is not expected to have a material impact on the company's fiscal 2015 results or capital plans.
4:03 pm Fortune Brands Home & Security announces $250 mln share repurchase authorization (FBHS) :
4:03 pm Fannie Mae releases August 2014 Monthly Summary (FNMA) :
- Fannie Mae's Book of Business decreased at a compound annualized rate of 4.0 percent in August.
- Fannie Mae's Gross Mortgage Portfolio declined at a compound annualized rate of 16.7 percent in August.
- The Conventional Single-Family Serious Delinquency Rate fell one basis point to 1.99 percent in August; the Multifamily Serious Delinquency Rate fell one basis point to 0.09 percent in August.
- The Effective Duration Gap on Fannie Mae's portfolio averaged zero months in August.
4:02 pm Agree Realty announces recent acquisition and development activity; total acquisition volume for the third quarter was a record $41.3 mln (ADC) : Co announces that it recently closed on the acquisition of four net lease retail properties with an aggregate purchase price of $16.4 mln. Inclusive of these and previously announced transactions, total acquisition volume for Q3 was a record $41.3 mln. These properties were acquired at a weighted-average cap rate of 8.14% and have a weighted-average remaining lease term of approximately 15.9 years.
4:02 pm American Science & Engineering (halted) sees Q2 net loss vs. $0.21 consensus; announced workforce reduction (ASEI) :
- Co has reduced its workforce by ~10% and has implemented additional targeted cost reductions to further reduce its operating expenses. These actions were taken in response to the continued global volatility impacting its markets.
- The co is anticipating a net loss in Q2 vs. the $0.21 Capital IQ Consensus.
- Co will provide Q2 fiscal year 2015 results in its quarterly press release on November 7, 2014.
- The Company expects to realize the benefits of the cost cutting measures beginning in the third quarter of fiscal year 2015.
- "The escalating global volatility negatively impacted our quarterly results with shipment delays for orders already recorded in backlog."
4:02 pm American Capital Agency announces change from quarterly to monthly common dividend distributions; also to begin disclosing a month-end NAV (AGNC) : "We are pleased to announce the change to our common dividend distribution schedule as well as the disclosure of monthly net asset value estimates. We believe these initiatives will provide significant benefits to our stockholders and are consistent with our objective of enhancing shareholder value and providing best-in-class disclosures."
4:02 pm Red Hat proposes to offer $700 mln aggregate principal amount of its convertible senior notes due 2019 (RHT) :
4:01 pm Westport Innovations trading halted, news pending (WPRT) :
4:01 pm Principal Fincl's Principal Global Investors increases ownership stake in Columbus Circle investors from 70% to 95% (PFG) :
- Co announced its subsidiary, Principal Global Investors has agreed to increase its stake in Columbus Circle Investors from 70 to 95%.
- Since the initial acquisition, assets under management at Columbus Circle Investors have more than quadrupled, going from $3.9 bln in 2005 to $17.5 bln (as of June 30, 2014).
4:00 pm RGS Energy announces strategy to exit large commercial business (RGSE) :
- The co announced its strategy to focus on its core residential solar engineering, procurement and construction business.
- To provide greater financial resources for its Residential and Sunetric business segments, the co decided today to exit its legacy, large commercial business segment.
4:00 pm American Science & Engineering trading halted, news pending (ASEI) :
- Company Earnings