InPlay from Briefing.com

7:46 pm Key Energy beats by $0.01, reports revs in-line (KEG) : Reports Q3 (Sep) loss of $0.08 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of ($0.09); revenues fell 6.1% year/year to $365.8 mln vs the $365.36 mln consensus.

Outlook: "We are seeing stronger demand for 24-hour rig work to support new well completions and post-completion production activity in horizontal wellbores. Also, we experienced strong financial improvement in our traditional fishing and rental business driven, to a large extent, by market share gains across several regions."

7:41 pm Provident Fincl announces share repurchase plan of ~453.2k shares (PROV) : Co's Board uthorized the repurchase of up to five percent (5%) of the Company's common stock, or approximately 453,212 shares. The October 2014 stock repurchase plan will become effective once the Company has completed the May 2014 stock repurchase plan by purchasing the remaining 87,823 shares available under the May 2014 plan.

7:07 pm Fluor joint venture ICA Fluor awarded $264 mln contract for Shell's heavy oil extranction project in Canada (FLR) : Co announced that ICA Fluor, its industrial engineering, fabrication and construction joint venture with Empresas ICA (ICA), signed a contract with Shell Canada Energy to supply modular fabrication and procurement services for 13 well pads for heavy oil extraction at Shell's Carmon Creek project currently under construction in northern Alberta. The project is expected to produce about 80,000 barrels per day of heavy oil from Shell's Peace River Operations using steam recovery methods. The initial contract awarded to ICA Fluor is worth $264 million, and Fluor will book its $132 million share in the fourth quarter of 2014.

6:54 pm NorthWestern receives FERC approval to issue securities to finance pending Hydro transaction (NWE) : Today, the Federal Energy Regulatory Commission approved and authorized NorthWestern to issue securities consisting of a combination of up to $400 million of equity securities and up to $450 million in debt securities, or, in the alternative, up to $900 million of unsecured debt pursuant to an existing bridge credit facility, but, in no event, more than $900 million outstanding at any one time. The issuance of securities will be used to finance the hydroelectric acquisition from PPL Montana.

6:39 pm Chimerix announces pricing of an underwritten public offering of 3,650,000 shares of its common stock at a price to the public of $29 per share (CMRX) : The gross proceeds to Chimerix from this offering, before deducting underwriting discounts and commissions and other offering expenses payable by Chimerix, are expected to be approximately $105.9 million

6:34 pm Investors Bancorp reports EPS in-line (ISBC) : Reports Q3 (Sep) earnings of $0.11 per share, in-line with the Capital IQ Consensus Estimate of $0.11.

  • Net loans increased $1.29 billion, or 10.0%, to $14.17 billion at September 30, 2014 from $12.88 billion at December 31, 2013.
  • Deposits increased by $752.8 million from $10.72 billion at December 31, 2013 to $11.47 billion at September 30, 2014.
  • Net interest margin for the three months ended September 30, 2014 was 3.27%. This represents a one basis point decrease compared to the quarter ended June 30, 2014 and a decrease of 11 basis points compared to the quarter ending September 30, 2013.

6:07 pm Star Bulk Carriers announces pricing of $50 mln of 8.00% senior notes due 2019 (SBLK) : Co announced that it has priced its public offering of senior unsecured notes due 2019. The Notes will bear interest at a rate of 8.00 % per year, payable quarterly in arrears on each February 15, May 15, August 15 and November 15, commencing on February 15, 2015. The Company intends to use substantially all of the net proceeds from the offering for general corporate purposes. Morgan Stanley, Stifel, Jefferies LLC and Deutsche Bank Securities are acting as joint book-running managers for the offering.

6:07 pm Omnova Solutions announces authorization of partial redemption of its 7.875% senior notes due in 2018, and a stock repurchase program of up to $20 mln (OMN) : The co announced that its Board of Directors has authorized the use of available cash to redeem $50 million of the $250 million outstanding principal amount of OMNOVA's 7.875% Senior Notes due in 2018. The Notes are available to be called as of November 1, 2014, at a price of 103.938%, plus accrued and unpaid interest. OMNOVA also announced today that its Board of Directors has authorized the repurchase of up to $20 million of the Company's common stock. This authorization expires on October 31, 2015.

5:46 pm Fred's names Jerry A. Shore CEO (FRED) : Co announced that it has named Jerry A. Shore Chief Executive Officer of the Company. Shore's promotion follows the Board's receipt and acceptance of notification by Bruce A. Efird of his intention to leave the Company upon the expiration of his employment contract. Shore has served as the Company's Executive Vice President and Chief Financial Officer for more than 14 years and assumed the additional title of Chief Operating Officer in January of this year.

5:42 pm Public Storage beats by $0.05, beats on revs (PSA) : Reports Q3 (Sep) funds from operations of $2.11 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $2.06; revenues rose 11.6% year/year to $571.6 mln vs the $553.48 mln consensus.

5:32 pm Medidata Solutions selected by ASLAN Pharmaceuticals as enterprise-wide technology platform for enhancing clinical development (MDSO) : ASLAN's adoption of the industry-leading Medidata Clinical Cloud supports the company's strategy of maximizing the value of its in-licensed drug portfolio by conducting high quality, efficient clinical development in Asia.

5:27 pm General Electric: Florida East Coast Railway acquires 24 new GE ES44C4, Tier 3 Locomotives (GE) : Florida East Coast Railway is about to take delivery of the first of 24 new Tier 3 locomotives, acquired from GE Transportation (GE).  The new locomotives will be used in thru-freight, heavy haul service on the railway's 351-mile mainline route between Jacksonville, and Miami, Florida.  The remainder of the locomotives will be placed in service by the end of 2014.

5:26 pm Wayne Savings Bancshares announces the appointment of H. Stewart Fitz Gibbon III as President and CEO effective November 3, 2014 (WAYN) : As announced on March 17, 2014, Rod C. Steiger, Director, President and Chief Executive Officer of the company will retire on December 31, 2014.

5:21 pm Statoil ASA sanctions the Stampede project in the Gulf of Mexico; co has decided to invest $1.5 bln in the development (STO) : Statoil has decided to invest $1.5 billion in the Stampede development in the U.S. Gulf of Mexico, which is expected to begin production in 2018. Statoil owns 25 percent of Stampede, which is operated by Hess. Stampede, a new project named from unitizing the former discoveries of Knotty Head and Pony, is located approximately 350 kilometers from New Orleans, Louisiana at a water depth of more than 1,000 meters. The reservoir depth is 9,100 meters . Stampede consists of Green Canyon Blocks 468, 511 and 512. Statoil estimates the reservoir contains approximately 350 million barrels of recoverable oil.

5:21 pm Eastman beats by $0.09, reports revs in-line (EMN) : Reports Q3 (Sep) earnings of $1.89 per share, ex-items, $0.09 better than the Capital IQ Consensus Estimate of $1.80; revenues rose 3.2% year/year to $2.41 bln vs the $2.41 bln consensus.

  • Cash Flow: Eastman generated $560 million in cash from operating activities during third quarter 2014 driven by strong earnings. During the quarter the company reduced commercial paper borrowings by $211 million and repurchased shares totaling $50 million.
     
  • Outlook: Our portfolio of businesses has delivered strong earnings year-to-date as we continue to benefit from leadership positions in key markets, the diversity of end markets and geographies we serve, and market adoption of our premium products. During the fourth quarter, we expect strong results as demand remains solid with normal seasonality, product mix improvement continues, and raw material and energy costs are a tailwind. We therefore expect 2014 earnings per share to approach $7, delivering our fifth consecutive year of earnings growth." The CapIQ Consensus is for FY14 EPS of $6.86.

5:19 pm Oil States beats by $0.09, reports revs in-line (OIS) : Reports Q3 (Sep) earnings of $1.07 per share, $0.09 better than the Capital IQ Consensus Estimate of $0.98; revenues rose 7.5% year/year to $471 mln vs the $473.59 mln consensus.

5:19 pm Inland Real Estate announces development of Publix-Anchored center in Northeastern Alabama (IRC) : The co announced that it has acquired 13 acres of land for the development of The Shoppes at Rainbow Landing, a 65,000-square-foot shopping center that will be located in Rainbow City, Alabama. The center, which is 74% pre-leased, will include a 45,600-square-foot Publix grocery store and approximately 16,000 square feet of shop space, with two outlots available for future development. The Company will develop the center in conjunction with its joint venture partner MAB American Retail Partners, LLC, who will provide development services for the project. Construction on the center is expected to begin by early November, with the Publix store targeted to open in the fall of 2015.

5:16 pm BPZ Energy announces gas discovery at Onshore Block XXIII and discussions for gas sales pilot project (BPZ) : Three onshore shallow exploration wells, ranging in depth from 3,500 to 3,800 feet, have been drilled at Block XXIII during 2014. These wells targeted the Caracol, El Cardo, and Piedra Candela prospects, which are on a six-mile trend. All three wells tested dry gas from the Mancora formation. The Caracol 1X well also recovered some light oil from the Heath formation and also tested dry gas from the Zorritos formation.

  • The Company will pursue a long term testing program in these Block XXIII prospects, starting with Piedra Candela, and potentially sell the tested gas under a pilot program to the local communities.  The Company is in preliminary discussions with a local compressed natural gas distributor to establish terms of the transaction, including sales volumes and pricing.  Additional appraisal wells could be included in the long term testing program.  The Company has already received the long term gas testing permit.
  • While the Company continues to explore and appraise the Mancora gas play which will require additional wells and studies, the Company is also reviewing other avenues for larger scale commerciality from development of current and future onshore gas discoveries.  This could include revenue and cash flow from broader CNG sales, micro or mini LNG projects, the Company's previously announced gas to power project, a future Peruvian northern gas pipeline project being promoted by the Government, and gas exports to Ecuador. 

5:15 pm Great Plains Engy subsidiary Kansas City Power & Light filed a request with the Missouri Public Service Commission to increase base rates for electric service to approximately 270,000 of its 565,000 Missouri customers (GXP) : The request is for a 15.8% rate increase, which would result in an average residential customer paying less than an additional $14 per month, if approved. The rate request process takes ~11 months in Missouri, and new rates are expected to take effect on or about September 30, 2015.

5:13 pm Novadaq Tech. announces transfer of SPY Elite business from LifeCell Corporation for $4.5 mln (NVDQ) : The co announced that it and LifeCell Corporation, an Acelity company, have agreed to transfer all marketing and distribution rights to the SPY Elite System from LifeCell to NOVADAQ. The transfer will be effective November 30, 2014. LifeCell will provide certain services during a transition period from December 1, 2014 to December 31, 2014 for a service fee equal to the approximate revenue share pursuant to the distribution agreements. In connection with the transfer, on the Effective Date the parties will terminate the distribution agreement, signed in September 2010, related to the marketing and distribution of the SPY Elite System in the fields of open plastic reconstructive, gastrointestinal, head and neck, and other surgery. Furthermore, NOVADAQ and LifeCell will terminate agreements that were signed in November 2011 related to the marketing and distribution of the SPY Elite System in the interventional and vascular fields, with NOVADAQ having immediate non-exclusive rights to distribute in those fields. The original expiry dates of these agreements were September 2015 and November 2017, respectively.

  • The termination agreement provides for, along with other customary terms, a one-time payment of $4.5 million to LifeCell on the Effective Date. NOVADAQ and LifeCell have also agreed to settle any and all legal disputes between the parties.

5:11 pm Mexco Energy announces purchase of oil and gas properties (MXC) : The co announced the purchase of various royalty interests at a price of $1,000,000 covering approximately 1,800 wells in 27 counties of Texas. Of these oil and gas reserves, approximately 77% is natural gas and 23% oil.  Mexco believes that there is potential for further development of a number of these royalties especially through horizontal and vertical drilling and fracturing. These royalty interests are free of expenses to Mexco for drilling and operations. 

  • Also Mexco announced the purchase for $525,000; 12.5% (approximately 10% net revenue interest) long lived non-operated working interests.

5:10 pm Mexco Energy announced the purchase of various royalty interests at a price of $1,000,000 covering ~1,800 wells in 27 counties of Texas (MXC) : Of these oil and gas reserves, approximately 77% is natural gas and 23% oil. Mexco believes that there is potential for further development of a number of these royalties especially through horizontal and vertical drilling and fracturing. These royalty interests are free of expenses to Mexco for drilling and operations.

5:09 pm FleetCor beats by $0.03, beats on revs; raises FY14 EPS and rev guidance in-line with consensus (FLT) : Reports Q3 (Sep) earnings of $1.37 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.34; revenues rose 31.1% year/year to $295.28 mln vs the $282.79 mln consensus.

Co issues in-line guidance for FY14, sees EPS of $5.07-5.11, excluding non-recurring items, (raised from $5.04-5.10) vs. $5.08 Capital IQ Consensus Estimate; sees FY14 revs of $1.10-1.11 bln (raised from $1.082-1.097 bln) vs. $1.1 bln Capital IQ Consensus Estimate.

5:08 pm American Capital obtains $500 million secured credit facility (ACAS) : The facility, which matures in October 2016, currently bears interest at a rate of LIBOR plus 1.60%.

5:07 pm New Source Energy announces board appointment and management promotions (NSLP) : The co announced the appointment of Kristian B. Kos as Chairman of the Board of Directors; also announced the promotion of Dikran Tourian to President and Chief Operating Officer, effective immediately

5:05 pm Canadian Oil Sands reports Q3 net of $0.18 vs $0.51 in the yr-ago (COSWF) :

  • Sales volumes for the quarter averaged 87,787 barrels per day, compared with 84,250 barrels per day in the yr-ago
  • Cash flow from operations was $302 mln ($0.62 per Share) compared with $340 mln ($0.70 per Share) in the yr-ago as a result of lower realized selling prices and higher operating expenses partially offset by higher sales volumes

5:01 pm ITT Industries's s Bornemann SLH-4G twin-screw pump receives EHEDG EL aseptic certificate (ITT) : Co announces its Bornemann SLH-4G twin-screw pump has received its European Hygienic Engineering and Design Group EL Aseptic certificate, becoming the first positive displacement pump to be aseptic certified. This verification highlights the hygienic design of the SLH-4G model and approves the pump for operation in aseptic applications.

5:00 pm Discovery Labs announces organizational change and enhanced expertise in Neonatology (DSCO) :

  • Steven G. Simonson, M.D., has been appointed Senior Vice President and Chief Development Officer, with responsibility for research, clinical development, aerosol device development, regulatory affairs, and patient safety / pharmacovigilance.
  • The company also announced the appointment of Jan Mazela, M.D., Ph.D. as Special Medical and Scientific Advisor -- Neonatology. He currently serves as Medical Director in the Department of Neonatology and Infectious Diseases at Poznan University of Medical Sciences in Poznan, Poland. Dr. Mazela received his medical degree from the University of Medical Sciences in Poznan, Poland, and completed his fellowship in Neonatology at the University of Illinois at Chicago
  • As part of the organizational changes, Russell G. Clayton, D.O., Discovery Labs' Senior Vice President, Research and Development will be leaving the company by mutual agreement in December 2014 to pursue other interests. He will serve in an advisory role to the company through the planned AEROSURF phase 2 program.

4:59 pm Cheniere Energy reports Q3 (Sep) results, revs in-line (LNG) : Reports Q3 (Sep) loss of $0.40 per share, may not be comparable to the Capital IQ Consensus Estimate of ($0.27); revenues fell 1.3% year/year to $66.8 mln vs the $66.94 mln consensus.

4:56 pm Cedar Realty Trust reports in-line; co raised the low end of its 2014 Operating FFO guidance (CDR) : Reports Q3 (Sep) funds from operations of $0.14 per share, in-line with the the Capital IQ Consensus Estimate of $0.48; revenues rose 6.1% year/year to $36.3 mln vs the $37.3 mln consensus.

  • The co raised the low end of its 2014 Operating FFO guidance to a new range of $0.53 to $0.54 vs $0.54 consensus, from the previous range of $0.52-0.54.

4:56 pm LRR Energy L.P. beats by $0.66, beats on revs; updates guidance (LRE) : Reports Q3 (Sep) earnings of $0.95 per share, $0.66 better than the Capital IQ Consensus Estimate of $0.29; revenues rose 72.2% year/year to $43.4 mln vs the $32.39 mln consensus. 

  • LRR Energy's average net production for the three and nine months ended September 30, 2014 was negatively impacted by flaring at our Red Lake field of approximately 25 Boe/d and 40 Boe/d, respectively. 
  • Updates guidance: Now expects 2014 Daily Production (Boe/d) of 6,400-6,450 vs. prior expectation for 6,450-6,550; Continues to expect LOE ($/Boe) of $10.75-$11.00; Sees Capital Expenditures ($MM) of $35.0 mln, down from $37.5 mln prior expectation.

4:56 pm Cheniere Energy Partners reports Q3 loss of $43.2 mln; estimates Nov 3 distribution to unit holders of $0.425 and annualized FY14 distribution of $1.70 per unit (CQP) :  

4:52 pm Columbia Property Trust beats by $0.03, beats on revs; raises FY14 FFO above consensus (CXP) : Reports Q3 (Sep) funds from operations of $0.51 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.48; revenues rose 3.4% year/year to $137 mln vs the $131.18 mln consensus.

Co issues upside guidance for FY14, raises FFO to $2.01-2.03 from $1.95-2.00 vs. $1.99 Capital IQ Consensus Estimate. Leased percentage at year end 2014 of 92.0% to 94.0% Same Store Cash NOI growth of 3.0% to 4.0%

4:51 pm Abengoa has been selected to lead a water project for the City of San Antonio (ABGB) : Abengoa and its team members BlueWater, Pape-Dawson Engineers, CP&Y, Garney Construction and R.W. Harden under the Vista Ridge Consortium will deliver this innovative project. The San Antonio City Council voted today to approve the Abengoa contract to deliver 50,000 acre feet with 0/11 in favor of the project, which will go online by 2020. The project will be executed over a period of 30 years.

4:51 pm Midcoast Energy Partners beats by $0.04, beats on revs (MEP) : Reports Q3 (Sep) earnings of $0.14 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 1.3% year/year to $1.4 bln vs the $1.37 bln consensus.

4:51 pm CubeSmart beats by $0.01, beats on revs; guides Q4 FFO in-line (CUBE) : Reports Q3 (Sep) funds from operations of $0.28 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.27; revenues rose 17.7% year/year to $97.1 mln vs the $94.68 mln consensus.

  • Increased same-store NOI 10.8% y/y, driven by 7.7% rev growth and a 1.1% increase in property operating expenses. 
  • Same-store occupancy averaged 92.3% during the quarter, up 180bps y/y; ended the quarter with same-store occupancy of 91.7%
  • Closed on three facility acquisitions totaling $38.9 mln. 
Co issues in-line guidance for Q4, sees FFO of $0.26-0.27, excluding non-recurring items, vs. $0.27 Capital IQ Consensus Estimate.

Co increased its FY14 acquisition tgt to $570 mln from prior range of $250-300 mln.

4:50 pm Global Power Equipment beats by $0.12, beats on revs (GLPW) : Reports Q3 (Sep) earnings of $0.26 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 31.9% year/year to $145.1 mln vs the $133.71 mln consensus.

4:48 pm MasTec beats by $0.01, reports revs in-line; guides FY14 revs above consensus; guides FY15 EPS below consensus, revs above consensus (MTZ) : Reports Q3 (Sep) earnings of $0.56 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.55; revenues rose 3.2% year/year to $1.31 bln vs the $1.31 bln consensus.

  • Co issues upside guidance for FY14, sees FY14 revs of $4.6 bln vs. $4.51 bln Capital IQ Consensus Estimate. 
  • Co issues mixed guidance for FY15, sees EPS of $2.00-2.15 vs. $2.21 Capital IQ Consensus Estimate; sees FY15 revs of $5.2-5.4 bln vs. $5.12 bln Capital IQ Consensus Estimate.

4:48 pm Freightcar America beats by $0.03, misses on revs (RAIL) : Reports Q3 (Sep) earnings of $0.53 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.50; revenues rose 150.7% year/year to $190.3 mln vs the $193.69 mln consensus. Orders for 7,375 railcars received during the quarter, Backlog grew to 13,514 railcars valued at approximately $1.1 billion.

4:46 pm Alon USA Energy reports EPS in-line (ALJ) : Reports Q3 (Sep) earnings of $0.59 per share, in-line with the Capital IQ Consensus Estimate of $0.59. Net sales decreased 2.2% y/y to $1.85 bln. Cash provided by operating activities improved to $112.9 mln vs. ($20.1) mln.

The combined total refinery average throughput for the third quarter of 2014 was 151,772 barrels per day, consisting of 74,838 bpd at the Big Spring refinery and 76,934 bpd at the Krotz Springs refinery, compared to a combined total refinery average throughput of 132,159 bpd for the third quarter of 2013, consisting of 63,090 bpd at the Big Spring refinery and 69,069 bpd at the Krotz Springs refinery.

4:46 pm Home Properties beats by $0.02, reports revs in-line; reaffirms guides Q4 FFO above consensus (HME) : Reports Q3 (Sep) funds from operations of $1.16 per share, $0.02 better than the Capital IQ Consensus Estimate of $1.14; revenues rose 5.8% year/year to $171.3 mln vs the $171.65 mln consensus.

  • Co reaffirms upside guidance for Q4, sees FFO of ~$1.18 vs. $1.17 Capital IQ Consensus Estimate.

4:46 pm Entertainment Gaming Asia announces commencement of rights offering (EGT) : Co announced the commencement of its previously announced common stock rights offering to its stockholders. Under the terms of the rights offering, the Company will distribute at no charge to the holders of its common stock on September 15, 2014, the record date for the rights offering, 0.92278 non-transferable rights for every share of common stock owned as of September 15, 2014.

  • Each right will entitle the holder to purchase one share of common stock at a subscription price of $0.54 per share.

4:45 pm First Financial misses by $0.02 (FFBC) : Reports Q3 (Sep) earnings of $0.26 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.28. Net interest income for the third quarter was $58.4 million as compared to $54.3 million for the second quarter 2014 and $55.8 million for the third quarter 2013. Compared to the linked quarter, total interest income increased $4.7 million, or 7.9%, while total interest expense increased $0.6 million, or 13.7%. Net interest margin was 3.66% for the third quarter, compared to 3.70% for the second quarter 2014 and 3.91% for the third quarter 2013.

4:45 pm Ashford Hospitality Trust beats by $0.02, misses on revs (AHT) : Reports Q3 (Sep) funds from operations of $0.25 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.23; revenues fell 16.5% year/year to $202.1 mln vs the $212.31 mln consensus.

  • RevPAR for the Ashford Trust Portfolio hotels increased 12.4% during the quarter  
  • Hotel EBITDA increased 18.1% for all Ashford Trust Portfolio hotels 
  • Hotel EBITDA flow-through was 48.2% for all Ashford Trust Portfolio hotels 

4:44 pm Audience beats by $0.04, misses on revs; guides Q4 below consensus (ADNC) : Reports Q3 (Sep) adj. loss of $0.35 per share, $0.04 better than the Capital IQ Consensus Estimate of ($0.39); revenues fell 34.2% year/year to $22.7 mln vs the $26.1 mln consensus.

Co issues downside guidance for Q4, sees EPS of ($0.53)-(0.47), excluding non-recurring items, vs. ($0.31) Capital IQ Consensus Estimate; sees Q4 revs of $13-16 mln vs. $25.91 mln Capital IQ Consensus Estimate. 

"In the third quarter we saw continued near-term weakness in our core smartphone market, largely due to less than expected market acceptance of certain smartphone models; however, we expect our market and product diversification efforts to take hold going forward."

4:44 pm STAG Industrial misses by $0.01, reports revs in-line (STAG) : Reports Q3 (Sep) funds from operations of $0.36 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.37; revenues rose 25.4% year/year to $43.4 mln vs the $43.19 mln consensus.

4:42 pm Ashford Hospitality Prime reports AFFO and revs ahead of consensus (AHP) : Reports Q3 (Sep) funds from operations of $0.42 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.38; revenues rose 39.0% year/year to $84.75 mln vs the $81.61 mln consensus.

  • RevPAR for all Ashford Prime hotels increased 11.7% to $191.33 during the third quarter, driven by a 9.6% increase in ADR and a 1.9% increase in occupancy
  • Hotel EBITDA increased $3.8 million or 14.8% for all Ashford Prime hotels
  • Hotel EBITDA flow-through was 45% for all hotels

4:42 pm Newpark Res beats by $0.06, beats on revs (NR) : Reports Q3 (Sep) earnings of $0.25 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.19; revenues rose 11.2% year/year to $297 mln vs the $271.51 mln consensus.

4:42 pm Taubman Centers beats by $0.01, reports revs in-line; guides FY14 FFO in-line (TCO) : Reports Q3 (Sep) funds from operations of $0.91 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.90; revenues fell 8.9% year/year to $176 mln vs the $174.74 mln consensus.

  • Co issues in-line guidance for FY14, lowers FFO to $3.58-3.68 from $3.72-3.82 vs. $3.61 Capital IQ Consensus Estimate. 
  • Comparable center NOI excluding lease cancellation income was up 2.5 percent in the quarter, bringing year-to-date growth to 3 percent. Excluding the company's assets that were sold to Starwood, comparable center NOI excluding lease cancellation income was up 2.8 percent in the quarter, and up 3.1 percent year-to-date.

4:41 pm Territorial Bancorp increases quarterly dividend 6.6% to $0.16 from $0.15/share (TBNK) :  

4:41 pm Select Medical reports EPS in-line, beats on revs; guides Q4 EPS below consensus, revs in-line (SEM) : Reports Q3 (Sep) earnings of $0.20 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.20; revenues rose 4.9% year/year to $758.1 mln vs the $749.95 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.19-0.22, excluding non-recurring items, vs. $0.23 Capital IQ Consensus Estimate; sees Q4 revs of $765-785 mln vs. $775.82 mln Capital IQ Consensus Estimate.

4:41 pm eHealth beats by $0.04, reports revs in-line; reaffirms FY14 EPS guidance, revs guidance (EHTH) : Reports Q3 (Sep) earnings of $0.17 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.13; revenues fell 1.9% year/year to $41.2 mln vs the $41.35 mln consensus.

  • Commission revenue for the third quarter of 2014 totaled $36.2 million, remaining flat compared to commission revenue of $36.0 million for the third quarter of 2013. Medicare revenue was $9.0 million for the third quarter of 2014, a 33% increase compared to Medicare revenue of $6.7 million for the third quarter of 2013.
Co reaffirms guidance for FY14, sees EPS of $0.30-0.43, excluding non-recurring items, vs. $0.33 Capital IQ Consensus Estimate; sees FY14 revs of $185-194 mln vs. $188.16 mln Capital IQ Consensus Estimate. 

4:41 pm Synacor reports Q3 (Sep) results, beats on revs; guides Q4 revs in-line; guides FY14 revs in-line (SYNC) : Reports Q3 (Sep) loss of $0.09 per share, may not be comparable to the Capital IQ Consensus Estimate of ($0.05); revenues fell 1.2% year/year to $26.23 mln vs the $25.33 mln consensus.

  • Co issues in-line guidance for Q4, sees Q4 revs of $25.3-27.3 mln vs. $26.52 mln Capital IQ Consensus Estimate. 
  • Co issues in-line guidance for FY14, sees FY14 revs of $100-103 mln vs. $102.90 mln Capital IQ Consensus Estimate.

4:40 pm TeleNav beats by $0.22, reports revs in-line; guides Q2 EPS above consensus, revs in-line; Raises FY15 EPS and revenue guidance (TNAV) : Reports Q1 (Sep) loss of $0.10 per share, $0.22 better than the Capital IQ Consensus Estimate of ($0.32); revenues fell 21.0% year/year to $35 mln vs the $34.79 mln consensus.

  • Adjusted EBITDA for the first quarter of fiscal year 2015 was ($5.5) million compared with ($7.4) million in the fourth quarter of fiscal year 2014 and $4.5 million in the first quarter of fiscal year 2014. 

  • Guidance: Co issues mixed guidance for Q2, sees EPS of ($0.16)-($0.14) vs. ($0.29) Capital IQ Consensus Estimate; sees Q2 revs of $37-$39 mln vs. $38.26 mln Capital IQ Consensus Estimate. Non-GAAP gross margin is expected to be 53 to 54 percent.

    Co raises guidance for FY15, sees EPS of ($0.68)-($0.55) vs. prior guidance of ($0.75)-($0.63), and above the ($1.05) Capital IQ Consensus Estimate; raises FY15 revs guidance to $160-$165 mln vs. prior guidance of $160-$170 mln and vs the $162.40 mln Capital IQ Consensus Estimate. Non-GAAP gross margin is expected to be 52 to 53 percent.

4:40 pm PC-TEL reports EPS in-line, revs in-line (PCTI) : Reports Q3 (Sep) earnings of $0.16 per share, in-line with the Capital IQ Consensus Estimate of $0.16; revenues rose 5.3% year/year to $27.9 mln vs the $28 mln consensus.

4:39 pm Apt Inv & Mgt reports FFO in-line, beats on revs; guides Q4 FFO in-line (AIV) : Reports Q3 (Sep) funds from operations of $0.51 per share, in-line with the Capital IQ Consensus Estimate of $0.51; revenues rose 1.2% year/year to $246.8 mln vs the $239.18 mln consensus. Co issues in-line guidance for Q4, sees FFO of $0.53-0.57 vs. $0.55 Capital IQ Consensus Estimate.

4:38 pm Federal Realty Invst Trust reports FFO in-line, revs in-line; raises bottom end of FY14 FFO in-line; guides FY15 FFO in-line (FRT) : Reports Q3 (Sep) funds from operations of $1.23 per share, in-line with the Capital IQ Consensus Estimate of $1.23; revenues rose 7.5% year/year to $170.9 mln vs the $171.67 mln consensus.

  • Co issues in-line guidance for FY14, raises bottom end of FFO to $4.92-4.94 from $4.90-4.94  vs. $4.93 Capital IQ Consensus Estimate. 
  • Co issues in-line guidance for FY15, sees FFO of $5.26-5.34 vs. $5.32 Capital IQ Consensus Estimate. 
  • The overall portfolio was 95.6% leased as of September 30, 2014, compared to 95.3% on June 30, 2014 and 95.3% on September 30, 2013. Federal Realty's same-center portfolio was 95.9% leased on September 30, 2014, compared to 95.5% on June 30, 2014 and 95.4% on September 30, 2013.

4:37 pm ScanSource beats by $0.14, beats on revs; guides Q2 EPS in-line, revs above consensus (SCSC) :

  • Reports Q1 (Sep) earnings of $0.75 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of $0.61; revenues rose 8.2% year/year to $791.7 mln vs the $756.31 mln consensus. 
  • Co issues mixed guidance for Q2, sees EPS of $0.64-0.66, excluding non-recurring items, vs. $0.65 Capital IQ Consensus Estimate; sees Q2 revs of $780-800 mln vs. $771.56 mln Capital IQ Consensus Estimate. 
  • On September 19, 2014, ScanSource completed its acquisition of Imago, Europe's leading value-added distributor of video and voice communications equipment and services.

4:37 pm Parkway Prop beats by $0.01, beats on revs; guides FY14 FFO below consensus (PKY) : Reports Q3 (Sep) funds from operations of $0.37 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.36; revenues rose 57.5% year/year to $115 mln vs the $104.84 mln consensus. Co issues downside guidance for FY14, sees FFO of $1.36-1.40 vs. $1.41 Capital IQ Consensus Estimate.

4:37 pm Emulex beats by $0.06, beats on revs; guides Q2 EPS in-line, revs in-line (ELX) : Reports Q1 (Sep) earnings of $0.14 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.08; revenues fell 9.6% year/year to $103.8 mln vs the $96.08 mln consensus.

  • Co issues in-line guidance for Q2, sees EPS of $0.14-0.18 vs. $0.15 Capital IQ Consensus Estimate; sees Q2 revs of $102-108 mln vs. $104.63 mln Capital IQ Consensus Estimate.

4:37 pm Immersion beats by $0.01, misses on revs; lowers top end of FY14 rev guidance (IMMR) : Reports Q3 (Sep) earnings of $0.08 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.07; revenues rose 6.3% year/year to $12.05 mln vs the $12.99 mln consensus.

Co issues in-line guidance for FY14, sees FY14 revs of $51-54 mln (narrowed from $51-56 mln) vs. $53.91 mln Capital IQ Consensus Estimate.

  • "We remain extremely optimistic regarding our long-term growth prospects as our innovations, technology and IP continue to gain momentum."

4:34 pm AXT beats by $0.01, beats on revs; announced a $5 mln stock repurchase program (AXTI) : Reports Q3 (Sep) earnings of $0.02 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.01; revenues rose 12.7% year/year to $23.1 mln vs the $21.76 mln consensus. 

  • "Revenue came in ahead of our expectations, and we achieved another quarter of profitability through improved gross margins and tight expense control. Further, we are diversifying our customer base throughout our product portfolio and are pleased to be gaining traction in several areas that have been a strong focus of our sales efforts. The changes in the gallium arsenide landscape over the past two years have had an adverse impact on our business. However, these changes are finally beginning to settle and new applications for our products are emerging across our substrate portfolio. I am very pleased to have a strong team in place with the expertise to maximize our potential as we evolve our business to meet new opportunities."
  • Co also announced a $5 million stock repurchase program

4:33 pm Globus Medical beats by $0.03, beats on revs (GMED) : Reports Q3 (Sep) earnings of $0.24 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 9.9% year/year to $117.8 mln vs the $113.1 mln consensus.

  • "We are very pleased with our record sales in Q3. This result can be attributed to consistent, steady execution of our growth strategy over the past several quarters, primarily the introduction of innovative technology and the expansion of our sales footprint, both in the U.S. and abroad. EPS was also a record this quarter, as we continue to see operating leverage in all facets of the business, while maintaining our disciplined approach to spending. Lastly, we are excited by the potential of our recently announced acquisition of Transplant Technologies of Texas."

4:33 pm ZIOPHARM beats by $0.05, misses on revs (ZIOP) : Reports Q3 (Sep) loss of $0.06 per share, $0.05 better than the Capital IQ Consensus Estimate of ($0.11); revenues rose 215.0% year/year to $0.63 mln vs the $1.2 mln consensus.

4:32 pm Brightcove beats by $0.05, beats on revs; guides Q4 EPS above consensus, revs in-line (BCOV) :

  • Reports Q3 (Sep) loss of $0.03 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of ($0.08); revenues rose 10.5% year/year to $31.5 mln vs the $30.22 mln consensus. 
  • Co issues mixed guidance for Q4, sees EPS of ($0.09)-($0.08), excluding non-recurring items, vs. ($0.10) Capital IQ Consensus Estimate; sees Q4 revs of $30.3-30.8 mln vs. $30.52 mln Capital IQ Consensus Estimate.

4:32 pm Energen raises CY14 production guidance midpoint by 500 MBOE; latest San Juan Basin Mancos oil wells generate strong rates; 3Q14 production of 6,651 MBOE increases 5 percent from 2Q14 (EGN) : For the 3 months ended September 30, 2014, Energen reported GAAP net income from all operations of $457.3 million, or $6.22 per diluted share.

  • After adjusting for a mark-to-market gain, impairment losses in advance of potential asset sales, dry hole expense, and discontinued operations, Energen's adjusted income from continuing operations in the 3rd quarter of 2014 totaled $45.2 million, or $0.62 per diluted share. 
  • This compares with adjusted income from continuing operations in the 3rd quarter of 2013 of $46.6 million, or $0.64 per diluted share.
  • The difference between the periods primarily is attributable to a 13 percent increase in oil and natural gas liquids production being more than offset by lower realized oil and NGL prices and increased DD&A expense.
  • Energen's adjusted EBITDAX from continuing operations totaled $229.3 million in the 3rd quarter of 2014, up ~5% from $217.9 million in the same period last year.
  • CY14 production guidance range narrowed and raised to 25.6-26.2 MMBOE
  • Energen's first Martin County Cline well generates 24-hour peak IP (3-phase) of 2,425 boepd (74% oil)
  • Acreage position in Mancos oil play increased ~15,000 net acres to 90,000 net acres
  • Company anticipates possible sale of majority of gas assets in San Juan Basin in 2015
  • Company estimates December 2014 exit rate could exceed 77,000 boepd

4:32 pm Kofax reports EPS in-line, revs in-line; guides FY15 revs in-line (KFX) : Reports Q1 (Sep) earnings of $0.02 per share, in-line with the Capital IQ Consensus Estimate of $0.02; revenues rose 2.4% year/year to $69.3 mln vs the $69.34 mln consensus. Adjusted cash generated by operations was $6.1 million.

  • Guidance: Co issues in-line guidance for FY15, sees FY15 revs of $317-$331 mln vs. $322.40 mln Capital IQ Consensus Estimate. Sees Adj. EBITDA of $41-$51 mln. 

4:32 pm Computer Prgms & Syst reports EPS in-line, beats on revs (CPSI) : Reports Q3 (Sep) earnings of $0.83 per share, in-line with the Capital IQ Consensus Estimate of $0.83; revenues rose 13.9% year/year to $53.3 mln vs the $52.4 mln consensus.

4:31 pm Mylan Labs beats by $0.03, beats on revs; guides Q4 EPS above consensus; raises FY14 EPS guidance above consensus, lowers FY14 rev guidance in-line with consensus (MYL) : Reports Q3 (Sep) earnings of $1.16 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.13; revenues rose 17.9% year/year to $2.08 bln vs the $2.06 bln consensus.

Co issues upside guidance for Q4, sees EPS of $1.03-1.09, excluding non-recurring items, vs. $1.01 Capital IQ Consensus Estimate. Co sees Q4 adjusted EBITDA of $660-720 mln.

Co issues mixed guidance for FY14, sees EPS of $3.54-3.60, excluding non-recurring items, (raised from $3.44-3.54) vs. $3.48 Capital IQ Consensus Estimate; sees FY14 revs of $7.7-7.8 bln (lowered from $7.8-8.0 bln) vs. $7.71 bln Capital IQ Consensus Estimate. Co sees FY14 adjusted EBITDA of $2.35-2.41 bln, raised from $2.20-2.40 bln

4:31 pm General Steel receives NYSE notification regarding average closing price requirement under NYSE's continued listing standard (GSI) : Pursuant to NYSE rules, the Company has a cure period of six months from receipt of the notification on October 24, 2014, to cure its non-compliance of the minimum share price standard. The Company can regain compliance on an accelerated basis if its common stock has a share price at or above $1.00 on the last trading day of any calendar month within the cure period and the average share price over the 30 trading days preceding the end of that month is also at or above $1.00. In addition, pursuant to NYSE rules, the Company has 10 business days from the receipt of the NYSE's notification to submit its intent to cure this non-compliance. The Company intends to submit a plan outlining the actions it intends to complete to increase its share price, and will notify the NYSE that it intends to cure the non-compliance within the prescribed timeframe.

4:31 pm JMP Group increases quarterly dividend 16% to $0.07 from $0.06/share (JMP) :  

4:31 pm Wilson Greatbatch beats by $0.06, reports revs in-line; guides FY14 EPS above consensus, revs in-line (GB) : Reports Q3 (Sep) earnings of $0.64 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.58; revenues rose 2.4% year/year to $171.69 mln vs the $172.48 mln consensus. Co issues mixed guidance for FY14, sees EPS of $2.32-2.38, excluding non-recurring items, vs. $2.32 Capital IQ Consensus Estimate; sees FY14 revs of $695-705 mln vs. $699.49 mln Capital IQ Consensus Estimate.

4:30 pm Kindred Healthcare names Benjamin A. Breier CEO-elect. (KND) : Co announces that Benjamin A. Breier will become CEO on Mar 31, 2015, succeeding Paul J. Diaz who will become Executive Vice Chairman of the KND BoD. Mr. Breier will also become a member of Kindred's BoD, effective Mar 31, 2015.

  • Benjamin A. Breier, has served as President and COO of KND since May 2012. Prior to joining the Co in 2005, he served as Concentra's Senior Vice President of Operations and Vice President of Operations.

4:28 pm Aegerion Pharma beats by $0.05, misses on revs; guides FY14 revs below consensus (AEGR) : Reports Q3 (Sep) GAAP loss of $0.20 per share, $0.05 better than the Capital IQ Consensus Estimate of ($0.25); revenues rose 167.9% year/year to $43.67 mln vs the $48.31 mln consensus. 

Co issues downside guidance for FY14, sees FY14 revs of $150-160 mln from prior range of $180-200 mln vs. $172.39 mln Capital IQ Consensus Estimate.

  • Expects FY14 JUXTAPID net product sales to be between $150-160 mln from prior range of $180-200 mln. 
  • Co now expects total operating expenses, excluding stock-based compensation, of between $135-145 mln. 
  • Co expects GAAP operating expenses in 2014, including stock-based compensation, to be between $165-175 mln.

4:28 pm Control4 beats by $0.02, reports revs in-line; guides Q4 EPS in-line, revs in-line (CTRL) : Reports Q3 (Sep) earnings of $0.16 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 16.4% year/year to $39.1 mln vs the $39.03 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.16-0.22, excluding non-recurring items, vs. $0.18 Capital IQ Consensus Estimate; sees Q4 revs of $41-43 mln vs. $41.72 mln Capital IQ Consensus Estimate.

4:27 pm Microchip misses by $0.01, reports revs in-line with downside preannouncement; guides Q3 EPS below consensus, revs in-line (MCHP) : Reports Q2 (Sep) earnings of $0.67 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.68; revenues rose 10.9% year/year to $546.2 mln vs the $546.19 mln consensus.

  • Co guided for Q2 rev of $346 mln vs. $566 mln consensus on Oct 9.

Co issues guidance for Q3, sees EPS of $0.59-0.64, excluding non-recurring items, vs. $0.62 Capital IQ Consensus Estimate; sees Q3 GAAP revs of $500.9-528.2 vs. $521.82 mln Capital IQ Consensus Estimate.

Co declares dividend of $0.3565 vs. $0.3560 prevously .

4:27 pm PerkinElmer reports EPS in-line, misses on revs; lowers FY14 guidance; approved a new 8 mln share repurchase program (PKI) : Reports Q3 (Sep) earnings of $0.57 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.57; revenues rose 3.8% year/year to $542 mln vs the $549.37 mln consensus.

  • Co issues lowered guidance for FY14, sees EPS of $2.39-2.41 from $2.42-2.46 vs. $2.44 Capital IQ Consensus Estimate. 
  • Adjusted operating profit margin was 16.8% as a percentage of adjusted revenue, compared to 15.7% for the same period a year ago. 
  • Share Repurchase: On October 23, 2014, the Company's Board of Directors approved a new share repurchase program for up to 8.0 million shares of the Company's common stock that will expire on October 23, 2016 unless terminated earlier, replacing the Company's existing share repurchase program which expired on October 24, 2014.

4:27 pm Republic Services misses by $0.01, reports revs in-line; guides FY14 EPS below consensus; guides FY15 EPS below consensus (RSG) : Reports Q3 (Sep) earnings of $0.52 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.53; revenues rose 4.6% year/year to $2.26 bln vs the $2.24 bln consensus.

  • Guidance: Co issues downside guidance for FY14, sees EPS of $1.93-$1.94 vs. $1.97 Capital IQ Consensus Estimate. Sees adjusted free cash flow of $675-$690 mln.

    Co issues downside guidance for FY15, sees EPS of $2.02-$2.06 vs. $2.16 Capital IQ Consensus Estimate. Adjusted free cash flow is expected to be in a range of $725 million to $750 million. This represents mid-single digit to low-double digit growth compared to Republic's estimate of 2014 performance. 

4:26 pm Elli Mae beats by $0.03, beats on revs; guides Q4 EPS below consensus, revs above consensus (ELLI) : Reports Q3 (Sep) earnings of $0.27 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.24; revenues rose 29.7% year/year to $42.8 mln vs the $40.15 mln consensus. Co issues mixed guidance for Q4, sees EPS of $0.15-0.18, excluding non-recurring items, vs. $0.29 Capital IQ Consensus Estimate; sees Q4 revs of $41-42 mln vs. $39.37 mln Capital IQ Consensus Estimate.

4:24 pm Imperva beats by $0.18, beats on revs; guides Q4 EPS in-line, revs in-line (IMPV) : Reports Q3 (Sep) loss of $0.10 per share, excluding non-recurring items, $0.18 better than the Capital IQ Consensus Estimate of ($0.28); revenues rose 21.6% year/year to $42.7 mln vs the $39.9 mln consensus. Co issues in-line guidance for Q4, sees EPS of $(0.07)-(0.02), excluding non-recurring items, vs. ($0.06) Capital IQ Consensus Estimate; sees Q4 revs of $48.6-50.6 mln vs. $48.96 mln Capital IQ Consensus Estimate.

  • "Our ability to exceed guidance during the third quarter was driven by the continuing global demand for our integrated solutions...The company is well positioned to benefit from demand driven by the increase in size and frequency of Cyber attacks due to our best-in-class data center security solutions."

4:24 pm NuVasive misses by $0.06, beats on revs; raises FY14 EPS guidance slightly, raises FY14 rev guidance above consensus (NUVA) : Reports Q3 (Sep) earnings of $0.19 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus Estimate of $0.25; revenues rose 12.3% year/year to $189.92 mln vs the $179.34 mln consensus.

Co issues mixed guidance for FY14, sees EPS of ~$1.12, excluding non-recurring items, (raised from $1.11) vs. $1.13 Capital IQ Consensus Estimate; sees FY14 revs of ~$755 mln (raised from ~$745 mln) vs. $747.68 mln Capital IQ Consensus Estimate. Co expects non-GAAP operating margin of approximately 16.5%; unchanged from previous guidance.

4:23 pm GSI Technology misses by $0.04, misses on revs; guides Q3 revs below consensus (GSIT) :

  • Reports Q2 (Sep) loss of $0.04 per share, $0.04 worse than the Capital IQ Consensus Estimate of ($0.00); revenues fell 14.2% year/year to $13.3 mln vs the $14.7 mln consensus. 
  • Co issues downside guidance for Q3, sees Q3 revs of $13.2-14.2 mln vs. $16.20 mln Capital IQ Consensus Estimate.

4:23 pm Bottomline Tech beats by $0.04, beats on revs (EPAY) : Reports Q1 (Sep) earnings of $0.37 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 21.0% year/year to $81.3 mln vs the $80.24 mln consensus. 

  • Gross margin for the first quarter was $47.0 million, an increase of $9.2 million from the first quarter of last year.

4:22 pm American Vanguard misses by $0.04, misses on revs (AVD) : Reports Q3 (Sep) earnings of $0.03 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.07; revenues fell 26.3% year/year to $71.6 mln vs the $75.69 mln consensus.

  • Commentary: "Our third quarter and nine month financial results are considerably below our record-setting performance for the same periods during the prior year. As you may recall, adverse weather in the Midwest led to surplus inventory of corn products in the distribution channel. Over 80% of our diminished sales revenue in the third quarter of 2014 resulted from lower restocking orders for granular soil insecticides, as the distribution channel worked off excess 2013 carryover inventory. At this point in the year, we believe that current inventory levels in the channel are much closer to the historical average. While we experienced some softness in our cotton and mosquito control insecticides, most of our other product lines performed at or above their seasonal expectations." 

4:22 pm STAG Industrial increases annual common stock dividend 2.3% to $1.35 per share (STAG) :  

4:21 pm Tallgrass Energy Partners misses by $0.05, misses on revs (TEP) : Reports Q3 (Sep) earnings of $0.23 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.28; revenues rose 30.9% year/year to $89.95 mln vs the $95.19 mln consensus.

4:21 pm Virtusa reports EPS in-line, revs in-line; guides Q3 EPS below consensus, revs in-line (VRTU) : Reports Q2 (Sep) earnings of $0.34 per share, in-line with the Capital IQ Consensus Estimate of $0.34; revenues rose 24.8% year/year to $117.7 mln vs the $117.01 mln consensus.

  • "...broad-based demand across our verticals, geographies and client portfolio enabled us to record revenue at the high end of our guidance."
  • Cash flow from operations was $21.7 mln
Co issues mixed guidance for Q3, sees EPS of $0.39-0.41 vs. $0.42 Capital IQ Consensus Estimate; sees Q3 revs of $121.8-123.8 mln vs. $122.80 mln Capital IQ Consensus Estimate.

4:21 pm Closing Market Summary: Dow Jones Leads Stocks Higher (:WRAPX) : The major averages ended the Thursday session on a higher note with the Dow Jones Industrial Average (+1.3%) spending the entire day in the lead. However, the strength among blue chips masked the underperformance of high-beta chipmaker and transport stocks. Furthermore, defensively-oriented health care (+1.8%) and utilities (+2.1%) finished in the lead, suggesting a lack of strong conviction.

Shortly before the open, the advance reading of Q3 GDP revealed growth of 3.5% while the Briefing.com consensus expected an increase of 3.0%. The news contributed to a rebound in the futures market, which had been pressured by early weakness in European equities. However, markets across Europe were able to erase their losses before ending for the day.

The Dow held the lead from the start thanks to a surge in its top-weighted component. Shares of Visa (V 236.65, +21.99) soared 10.2% in reaction to a bottom-line beat and news of a $5 billion buyback.

Visa's peer, MasterCard (MA 83.13, +7.14), also had a strong showing, spiking 9.4%, after it too surpassed earnings estimates. However, the two names were unable to push the technology sector (+0.2%) ahead of the broader market as other influential components like Apple (AAPL 106.98, -0.36), Facebook (FB 74.11, -1.75), and Microsoft (MSFT 46.05, -0.57) underperformed. Chipmakers also lagged with the PHLX Semiconductor Index falling 1.2%.

The high-beta group slumped after ending yesterday's session on its 50-day average (623.74). The complex widened its October loss to 3.4% with its largest component-Intel (INTC 32.58, -1.34)-plunging 4.0%.

Elsewhere among cyclical sectors, the materials space (+0.7%) had the strongest showing while energy (-0.3%) spent the day in the red. Crude oil, which fell 1.4% to $81.10/bbl, contributed to the weakness, while Chevron (CVX 117.20, +0.06) and ExxonMobil (XOM 94.45, -0.14) ended little changed ahead of their quarterly reports.

Also of note, industrials (+0.4%) could not catch up to the broader market due to the weakness among transports. The Dow Jones Transportation Average slid 1.2% with Con-way (CNW 42.35, -2.81) diving 6.2% despite beating bottom-line estimates. Meanwhile, peer C.H. Robinson (CHRW 69.22, -2.88) tumbled 4.0% in reaction to a Credit Suisse downgrade to 'Underperform' from 'Neutral.'

Meanwhile on the countercyclical side, consumer staples (+0.55%) and telecom services (+0.3%) slipped behind the market in the afternoon while health care (+1.8%) and utilities (+2.1%) finished in the lead.

The health care sector was boosted by strong results from AmerisourceBergen (ABC 84.84, +5.10) and Cigna (CI 97.10, +3.10). As for biotechnology, the iShares Nasdaq Biotechnology ETF (IBB 296.70, +6.07) settled higher by 2.1%.

Treasuries notched their highs right after the GDP report before spending the session in a steady retreat. The 10-yr yield slipped one basis point to 2.31%.

Today's participation was ahead of average with 730 million shares changing hands at the NYSE.

Economic data was limited to GDP and Initial Claims:

  • According to the advance estimate, GDP grew at an annualized rate of 3.5% during the third quarter while the Briefing.com consensus expected the reading to come in at 3.0%
    • Real final sales jumped 4.2%, which was the largest spike since Q4 2010 
    • The export deficit narrowed to $409.90 billion from $460.40 billion, boosting GDP growth by 1.32 percentage points 
    • Government spending surged 4.6%, representing the sharpest increase since Q2 2009 
  • Weekly Initial Claims increased to 287,000 from a revised rate of 284,000 (from 283,000) while the Briefing.com consensus called for a reading of 284,000 
    • Claims have held below the 300,000 mark for the past several weeks, suggesting payroll gains should surpass 200,000 
    • Continuing claims increased to 2.384 million from an upwardly revised 2.355 million (from 2.351 million) 
Tomorrow, September Personal Income (Briefing.com consensus 0.3%), Personal Spending (consensus 0.1%), Core PCE Prices (expected 0.1%), and the Q3 Employment Cost Index (expected 0.5%) will all be released at 8:30 ET while the Chicago PMI report for October (consensus 60.0) will cross the wires at 9:45 ET. The day's data will be topped off with the final release of the Michigan Sentiment survey for October (expected 86.4).
  • Nasdaq Composite +9.3% YTD 
  • S&P 500 +7.9% YTD 
  • Dow Jones Industrial Average +3.7% YTD 
  • Russell 2000 -0.7% YTD

4:21 pm Tessera Tech beats by $0.07, beats on revs; guides Q4 revs above consensus (TSRA) : Reports Q3 (Sep) earnings of $0.87 per share, $0.07 better than the Capital IQ single analyst estimate of $0.80; revenues rose 150.1% year/year to $93.3 mln vs the $91.9 mln single analyst estimate. 

  • Co issues upside guidance for Q4, sees Q4 revs of $50-54 mln vs. $44.60 mln Capital IQ Consensus Estimate. 
  • Operating expenses are expected to be between $31 million and $33 million. The Company expects approximately $4.7 million of amortization of intangible assets and $3.2 million of stock-based compensation expense. 
  • The Company also expects a loss from discontinued operations of approximately $0.8 million.

4:20 pm Silicon Image beats by $0.04, misses on revs; guides Q4 EPS in-line, revs below consensus (SIMG) :

  • Reports Q3 (Sep) earnings of $0.11 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.07; revenues fell 11.3% year/year to $70.3 mln vs the $72.47 mln consensus. 
  • Co issues mixed guidance for Q4, sees EPS of $0.05-0.08 vs. $0.07 Capital IQ Consensus Estimate; sees Q4 revs of $61-66 mln vs. $66.57 mln Capital IQ Consensus Estimate.

4:20 pm Seattle Genetics beats by $0.11, beats on revs (SGEN) : Reports Q3 (Sep) loss of $0.13 per share, $0.11 better than the Capital IQ Consensus Estimate of ($0.24); revenues rose 6.9% year/year to $75.9 mln vs the $67.46 mln consensus. 

  • Guidance: Seattle Genetics anticipates that 2014 revenues from ADCETRIS net product sales in the U.S. and Canada will be higher than previously anticipated, and are now expected to be in the range of $172 mln to $177 mln. The company also anticipates that 2014 collaboration revenues will be higher than previously anticipated, and are now expected to be in the range of $64 mln to $68 mln. 
  • Co Reported positive topline data from phase 3 AETHERA clinical trial demonstrating that patients with Hodgkin lymphoma (HL) at risk of relapse who received ADCETRIS as consolidation therapy immediately following an autologous stem cell transplantation (:ASCT) had significantly extended progression-free survival (PFS) compared to patients who received placebo (hazard ratio=0.57; p-value=0.001).  ASH annual meeting to feature 18 abstracts on ADCETRIS and antibody-drug conjugate pipeline programs, including an oral presentation on the phase 3 Aethera trial- 

4:20 pm Boston Beer Co beats by $0.47, beats on revs (SAM) : Reports Q3 (Sep) earnings of $2.79 per share, $0.47 better than the Capital IQ Consensus Estimate of $2.32; revenues rose 24.6% year/year to $269.7 mln vs the $258.57 mln consensus.

  • Gross Margin: Third quarter gross margin is 53% and year-to-date gross margin is 52%; the company maintains its full-year gross margin target of between 51% and 53%.
  • Depletions grew 21% and 25% from the comparable 13 and 39 week periods in the prior year.

  • FY14 Outlook: Depletions and shipments growth of between 20% and 24% ... National price increases of approx 2%... Gross margins of between 51% and 53%... Capital spending of between $150 million and $160 million.

  • FY15 Outlook: Depletions and shipments percentage growth of between 10% and 15%... National price increases of between 1% and 2%... Full-year 2015 gross margins of between 51% and 53% ... Estimated full-year 2015 capital spending of between $80 million and $100 million, which could be significantly higher, dependent on capital required to meet future growth.

4:20 pm GenMark Diagnostics beats by $0.08, beats on revs; guides FY14 revs above consensus (GNMK) : Reports Q3 (Sep) loss of $0.23 per share, $0.08 better than the Capital IQ Consensus Estimate of ($0.31); revenues rose 36.1% year/year to $6.3 mln vs the $5.81 mln consensus.

  • Co issues upside guidance for FY14, sees FY14 revs "to exceed" $29 mln vs. $27.86 mln Capital IQ Consensus Estimate.

4:18 pm AMN Healthcare Services beats by $0.01, beats on revs; guides Q4 revs above consensus (AHS) :

  • Reports Q3 (Sep) earnings of $0.18 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 2.9% year/year to $264.6 mln vs the $257.32 mln consensus. 
  • Co issues upside guidance for Q4, sees Q4 revs of $265-269 mln vs. $256.09 mln Capital IQ Consensus Estimate.

4:17 pm Citigroup adjusts Q3 results lower due ot $600 mln in legal accruals (C) :

  • Lowers Citigroup's net income to $2.839 bln from $3.439 bln (minus the $600 mln mentioned above); 
  • Net Income for Citicorp $2.601 bln compared to $3.201 bln previously reported; 
  • Net Income per share $0.88 compared to prior of $1.07; 
  • RoA drops to 0.59% from 0.72%.
  • Efficiency Ratio rises to 66% from 63%; 
  • Tier 1 Capital drops to 11.43% from 11.50%; 
  • BVPS slips to $67.11 from $67.31

4:17 pm Tempur Sealy Int'l misses by $0.01, beats on revs; lowers FY14 EPS, raises FY14 rev guidance (TPX) : Reports Q3 (Sep) earnings of $0.88 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.89; revenues rose 12.5% year/year to $827.4 mln vs the $796.71 mln consensus.

Co issues mixed guidance for FY14, lowers EPS to $2.60-2.70 from $2.60-2.85 vs. $2.73 Capital IQ Consensus Estimate; raises FY14 revs to $2.97-3.00 bln from $2.925-2.975 bln vs. $2.95 bln Capital IQ Consensus Estimate. The net sales increase was driven by double digit sales growth in each of the Company's three business segments.

4:16 pm Outerwall beats by $0.22, misses on revs; guides Q4 EPS in-line, revs below consensus (OUTR) : Reports Q3 (Sep) earnings of $1.44 per share, excluding non-recurring items, $0.22 better than the Capital IQ Consensus Estimate of $1.22; revenues fell 5.7% year/year to $552.9 mln vs the $562.17 mln consensus.

  • "...results reflect our ongoing efforts to align costs and capital expenditures across the business with our revenue growth opportunities... We are on track to achieve our commitment of $22 million in G&A savings in 2014..."
  • Adjusted EBITDA of $111.6 mln vs $114.3 mln prior year; "...solid despite lower revenue that was driven primarily by soft flow-through from the 2Q14 and the unfavorable timing of releases in the 3Q14"
Co issues mixed guidance for Q4, sees EPS of $1.85-2.15, excluding non-recurring items, vs. $2.06 Capital IQ Consensus Estimate; sees Q4 revs of $575-605 mln vs. $600.17 mln Capital IQ Consensus Estimate; sees adjusted EBITDA of $123-138 mln.

4:16 pm Pixelworks reports EPS in-line, revs in-line (PXLW) : Reports Q3 (Sep) loss of $0.04 per share, in-line with the Capital IQ Consensus Estimate of ($0.04); revenues rose 11.8% year/year to $17.1 mln vs the $17 mln consensus. 

  • "Additionally, we launched our Iris family of mobile video processors, which are gaining strong interest across a wide range of mobile applications. Looking forward, Pixelworks remains ideally positioned to benefit from the increasing importance of video processing as resolutions increase across all displays."

4:16 pm AtriCure beats by $0.15, beats on revs; raises FY14 revenue guidance above consensus (ATRC) : Reports Q3 (Sep) loss of $0.02 per share, $0.15 better than the Capital IQ Consensus Estimate of ($0.17); revenues rose 32.4% year/year to $26.68 mln vs the $25.62 mln consensus.

Co issues upside guidance for FY14, sees FY14 revs of $105-106 mln (raised from $103-105 mln) vs. $104.32 mln Capital IQ Consensus Estimate. Adjusted EBITDA is projected to be a loss of approximately $12 million for 2014, of which approximately $4.0 million of expense will be related to the Estech transaction. This compares to previous expectations of 2014 EBITDA loss in the range of $9 million to $10 million. AtriCure continues to expect the Estech transaction to be accretive in 2015 and beyond.

4:16 pm Mohawk beats by $0.02, misses on revs (MHK) : Reports Q3 (Sep) earnings of $2.44 per share, $0.02 better than the Capital IQ Consensus Estimate of $2.42; revenues rose 1.5% year/year to $1.99 bln vs the $2.04 bln consensus. 

  • "During the period, we significantly increased our adjusted operating income by 12% compared to last year through productivity enhancements, cost containment and acquisition synergies."

4:16 pm Synergy Resources announces $125 mln purchase agreement for Wattenberg Field assets and $230 mln in committed financing (SYRG) : Co announces it has signed a purchase and sale agreement for producing wells and leaseholds in the Wattenberg Field from a private party. Upon closing, the assets include non-operated working interests in seventeen horizontal wells, ten of which are in production (including four mid-reach laterals) and seven are in progress of completion.

  • In addition, the acquisition includes 73 operated and 11 non-operated vertical wells plus 5,040 gross acres (4,053 net) with rights to the Codell and Niobrara formations.
  • Other assets purchased include 91 net horizontal PUD locations, 35 permits in process for operated horizontal wells (including 20 extended reach laterals), 3D seismic data and an additional 2,400 gross acres (1,739 net) with rights to other formations, including the Sussex, Shannon and J-Sand.
  • The purchase price of the assets is $125 mln comprised of $87.5 mln in cash and $37.5 mln in Synergy common stock.

4:16 pm Hennessy Advisors increases dividend 25% to $0.05 from $0.04/share (HNNA) :  

4:15 pm Crown Castle beats by $0.03, beats on revs; guides Q4 FFO above consensus; guides FY15 FFO below consensus (CCI) : Reports Q3 (Sep) funds from operations of $1.05 per share, $0.03 better than the Capital IQ Consensus Estimate of $1.02; revenues rose 24.2% year/year to $930 mln vs the $915.96 mln consensus. Co issues upside guidance for Q4, sees FFO of $1.04-1.05, excluding non-recurring items, vs. $1.03 Capital IQ Consensus Estimate. Co issues downside guidance for FY15, sees FFO of $4.31-4.37, excluding non-recurring items, vs. $4.51 Capital IQ Consensus Estimate.

4:15 pm Electro Scientific beats by $0.03, beats on revs; guides Q3 EPS in-line, revs in-line (ESIO) : Reports Q2 (Sep) loss of $0.16 per share, $0.03 better than the Capital IQ Consensus Estimate of ($0.19); revenues fell 28.0% year/year to $42.9 mln vs the $40.12 mln consensus.

  • Gross Margin: Non-GAAP gross margin was 37.7% compared to 39.5% in the prior quarter.
     
  • Guidance: Co issues in-line guidance for Q3, sees EPS of ($0.20)-($0.16) vs. ($0.18) Capital IQ Consensus Estimate; sees Q3 revs of $40.0 mln vs. $39.63 mln Capital IQ Consensus Estimate.

4:15 pm TeleComm Sys reports EPS in-line, revs in-line (TSYS) : Reports Q3 (Sep) earnings of $0.05 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.05; revenues fell 0.7% year/year to $95.3 mln vs the $94.64 mln consensus.

4:14 pm Addus HomeCare reports EPS in-line, beats on revs (ADUS) : Reports Q3 (Sep) earnings of $0.29 per share, in-line with the Capital IQ Consensus Estimate of $0.29; revenues rose 21.4% year/year to $81.7 mln vs the $79.42 mln consensus.

4:14 pm Power Integrations misses by $0.05, misses on revs; guides Q4 revs below consensus (POWI) : Reports Q3 (Sep) earnings of $0.65 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.70; revenues fell 1.7% year/year to $90.14 mln vs the $94.93 mln consensus.

  • Co issues downside guidance for Q4, sees Q4 revs of $83-89 mln vs. $97.73 mln Capital IQ Consensus Estimate.
  • Non-GAAP gross margin is expected to be approximately 54 percent. (Excludes approximately $0.2 million of stock-based compensation and $0.6 million of amortization of acquisition-related intangibles.) 
  • GAAP gross margin is expected to be approximately 53 percent.

4:14 pm Corp Office Props commences a public offering of 4.8 mln of its common shares of beneficial interest (OFC) : The company intends to use the net proceeds to defease and fully satisfy its obligations under outstanding secured nonrecourse debt.

4:13 pm Boyd Gaming misses by $0.01, reports revs in-line (BYD) : Reports Q3 (Sep) net of breakeven, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.01; revenues were unchanged from the year-ago period at $738.8 mln. 

  • Total Adjusted EBITDA rose 5.5% to $163.9 mln, compared to $155.3 mln in the year-ago quarter. 
  • Guidance: Based on third-quarter results and current business trends, Boyd Gaming is narrowing its full-year 2014 Adjusted EBITDA guidance to the high end of its previously provided guidance. Before consideration of the deconsolidation of Borgata, the Company expects to generate between $590 mln and $600 mln in Adjusted EBITDA for the year. As a result of the deconsolidation of Borgata, the Company is modifying its guidance to eliminate 50% of Borgata's Adjusted EBITDA from the fourth quarter. Reflecting this change in accounting, full-year 2014 guidance for Boyd Gaming's Adjusted EBITDA is $576 mln to $586 mln.

4:13 pm Zendesk beats by $0.09, beats on revs; guides Q4 revs above consensus (ZEN) : Reports Q3 (Sep) loss of $0.09 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus Estimate of ($0.18); revenues rose 76.6% year/year to $33.9 mln vs the $31.25 mln consensus.

Co issues upside guidance for Q4, sees Q4 revs of $35-37 mln vs. $34.57 mln Capital IQ Consensus Estimate. Non-GAAP operating loss of $9.0 - 10.0 million, which excludes share-based compensation related expense of $9.0 million and amortization of intangibles of $0.5 million.

4:12 pm MaxLinear beats by $0.01, reports revs in-line; guides Q4 revs in-line (MXL) : Reports Q3 (Sep) earnings of $0.04 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.03; revenues rose 2.2% year/year to $32.5 mln vs the $32.45 mln consensus.

  • Co issues in-line guidance for Q4, sees Q4 revs of $32-33 mln vs. $32.68 mln Capital IQ Consensus Estimate.

4:12 pm Starbucks beats by $0.03, misses on revs; guides Q1 EPS below consensus; guides FY15 EPS below consensus, revs above consensus (SBUX) : Reports Q4 (Sep) earnings of $0.77 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 10.4% year/year to $4.18 bln vs the $4.24 bln consensus. 

Co issues downside guidance for Q1, sees EPS of $0.79-0.81 vs. $0.83 Capital IQ Consensus Estimate. Co issues mixed guidance for FY15, sees EPS of $3.08-3.13 vs. $3.16 Capital IQ Consensus Estimate; sees FY15 revs of +16-18% (approx $19.1-19.4 bln) vs. $18.38 bln Capital IQ Consensus Estimate.

 Fiscal 2015 Targets

  • Revenue growth now expected to be 16% - 18%, including over $1 billion in incremental revenue from the planned acquisition of Starbucks Japan 
  • Global Comparable store sales growth continues to be targeted in the mid-single digits 
  • The planned Starbucks Japan acquisition is expected to be mildly dilutive to consolidated operating margin on a GAAP basis versus FY14; non-GAAP operating margin is expected to be flat to up slightly over prior year non-GAAP operating margin: 
  • Americas: modest improvement over FY14 
  • EMEA: improving to 10% - 12%
  • China/Asia Pacific: Operating margin percentage in the high teens, which includes approximately 2% to 3% unfavorable impact from amortization expense related to acquired intangible assets resulting from the planned acquisition of Starbucks Japan
  • New store openings increase to 1,650 net new: 

4:12 pm STAAR Surgical misses by $0.03, misses on revs (STAA) : Reports Q3 (Sep) net of breakeven, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus Estimate of $0.03; revenues rose 6.4% year/year to $18.2 mln vs the $19.7 mln consensus.

4:12 pm ON Semiconductor misses by $0.01, beats on revs; guides Q4 revs above consensus (ONNN) : Reports Q3 (Sep) earnings of $0.21 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.22; revenues rose 16.5% year/year to $833.5 mln vs the $811.05 mln consensus.

  • Co issues upside guidance for Q4, sees Q4 revs of $835-875 mln vs. $820.92 mln Capital IQ Consensus Estimate
  • Backlog levels for Q4 represent approx 80 to 85 percent of anticipated revenue
  • Average selling prices for Q4 are expected to be down approx one to two percent when compared to Q3

4:12 pm Fluor beats by $0.05, misses on revs; guides FY14 EPS in-line; guides FY15 EPS in-line (FLR) : Reports Q3 (Sep) earnings of $1.15 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.10; revenues fell 18.6% year/year to $5.44 bln vs the $5.98 bln consensus.

  • New awards for the quarter were $6.0 billion, including $4.5 billion in Oil & Gas, $700 million in Government, $460 million in Industrial & Infrastructure and $382 million in Power. Consolidated backlog at the end of the quarter rose to $42.3 billion, up 5 percent over last quarter and up 16 percent from $36.5 billion a year ago. 

  • Guidance: Co narrows FY14 EPS guidance range, sees EPS of $4.10-$4.30 compared to prior guidance of $4.10-$4.45, inline with $4.19 Capital IQ Consensus Estimate. Co issues in-line guidance for FY15, sees EPS of $4.50-$5.00 vs. $4.96 Capital IQ Consensus Estimate.

4:12 pm DigitalGlobe beats by $0.01, reports revs in-line; guides FY14 revs in-line (DGI) : Reports Q3 (Sep) net of breakeven, $0.01 better than the Capital IQ Consensus Estimate of ($0.01); revenues fell 6.2% year/year to $154.6 mln vs the $155.72 mln consensus.

  • Co issues in-line guidance for FY14, sees FY14 revs of $640-660 mln vs. $644.81 mln Capital IQ Consensus Estimate. 
    • The company continues to expect to achieve a full-year Adjusted EBITDA margin of approximately 43% with a fourth quarter 2014 Adjusted EBITDA margin of approximately 50% at the mid-point of the company's annual revenue guidance. 
    • The company also expects 2014 capital expenditures of approximately $185 million, due to a reduction in projected year-end payables related to satellite construction projects.

4:11 pm BioTelemetry beats by $0.04, beats on revs (BEAT) : Reports Q3 (Sep) earnings of $0.06 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.02; revenues rose 35.1% year/year to $43.1 mln vs the $41.89 mln consensus.

4:11 pm Expedia beats by $0.19, beats on revs (EXPE) : Reports Q3 (Sep) earnings of $1.93 per share, excluding non-recurring items, $0.19 better than the Capital IQ Consensus Estimate of $1.74; revenues rose 22.1% year/year to $1.71 bln vs the $1.68 bln consensus. 

  • Gross bookings growth of 29% and revenue growth of 22% were primarily driven by strong hotel room night and air ticket growth. Revenue growth was also driven by strength in advertising and media revenue which grew 29% to $141 million for the quarter. 
  • Room nights grew 24% year-over-year, driven by continued strong performance at Brand Expedia and Hotels.com, with both domestic and international room nights increasing 24% year-over-year.

4:10 pm AXT announces $5 mln stock repurchase program (AXTI) :  

4:10 pm Groupon beats by $0.02, beats on revs; guides Q4 EPS below consensus, rev midpoint below consensus (GRPN) :

  • Reports Q3 (Sep) earnings of $0.03 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.01; revenues rose 27.2% year/year to $757.1 mln vs the $748.54 mln consensus. 
  • Co issues downside guidance for Q4, sees EPS of $0.02-0.04, excluding non-recurring items, vs. $0.07 Capital IQ Consensus Estimate; sees Q4 revs of $875-925 mln vs. $924.77 mln Capital IQ Consensus Estimate.

4:10 pm Trimble Navigation misses by $0.05, misses on revs; guides Q4 EPS below consensus, revs below consensus (TRMB) : Reports Q3 (Sep) earnings of $0.33 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.38; revenues rose 5.1% year/year to $584.8 mln vs the $603.5 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.26-0.32, excluding non-recurring items, vs. $0.41 Capital IQ Consensus Estimate; sees Q4 revs of $560-590 mln vs. $636.6 mln Capital IQ Consensus Estimate.

  • "While we recorded a year-over-year increase in revenue, the quarter was unimpressive. Our results in agriculture and Europe were both weaker than we originally anticipated."
  • "Although we expect a challenging fourth quarter compared to last year's performance, we believe we are improving our overall position in key markets."

4:10 pm Endologix reports EPS in-line, revs in-line; guides FY14 EPS in-line, revs in-line (ELGX) : Reports Q3 (Sep) loss of $0.13 per share, in-line with the Capital IQ Consensus Estimate of ($0.13); revenues rose 11.7% year/year to $37.2 mln vs the $36.96 mln consensus.

  • Co issues in-line guidance for FY14, sees EPS of ($0.43)-($0.37), excluding non-recurring items, vs. ($0.38) Capital IQ Consensus Estimate; sees FY14 revs of $145-148 mln vs. $146.93 mln Capital IQ Consensus Estimate.

4:09 pm NextEra Energy Partners declares first quarterly distribution of $0.1875 per common unit (NEP) :  

4:09 pm SciQuest reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs below consensus (SQI) : Reports Q3 (Sep) earnings of $0.07 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.07; revenues rose 14.0% year/year to $25.67 mln vs the $25.77 mln consensus.

  • Co issues guidance for Q4, sees EPS of $0.06-0.07, excluding non-recurring items, vs. $0.06 Capital IQ Consensus Estimate; sees Q4 revs of $25.3-25.7 mln vs. $27.04 mln Capital IQ Consensus Estimate.

4:09 pm GoPro beats by $0.04, beats on revs; will guide Q4 on CC at 17:00 (GPRO) : Reports Q3 (Sep) earnings of $0.12 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.08; revenues rose 45.8% year/year to $280 mln vs the $265.77 mln consensus. 

  • Non-GAAP gross margin in the third quarter of 2014 was 44.5%, compared to 33.5% in the third quarter of 2013 and 42.2% in the second quarter of 2014. 
  • The company is expected to guide for Q4 EPS and revenue on conference call at 17:00

4:09 pm Omnicell misses by $0.01, beats on revs (OMCL) : Reports Q3 (Sep) earnings of $0.30 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.31; revenues rose 19.6% year/year to $112.5 mln vs the $105.89 mln consensus. 

  • "Along with quarterly revenues up 20% over last year, I am pleased to report that we remain on track for our 2014 profit and growth projections,"  

4:08 pm LinkedIn beats by $0.05, beats on revs; guides Q4 below consensus (LNKD) : Reports Q3 (Sep) earnings of $0.52 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.47; revenues rose 44.6% year/year to $568.3 mln vs the $557.68 mln consensus.

  • Talent Solutions: Revenue from Talent Solutions products totaled $345 million, an increase of 45% compared to the third quarter of 2013. Talent Solutions revenue represented 61% of total revenue in the third quarter of 2014, compared to 60% of total revenue in the third quarter of 2013. 
  • Marketing Solutions: Revenue from Marketing Solutions products totaled $109 million, an increase of 45% compared to the third quarter of 2013. Marketing Solutions revenue represented 19% of total revenue in the third quarter of 2014 and 2013. 
  • Premium Subscriptions: Revenue from Premium Subscriptions products totaled $114 million, an increase of 43% compared to the third quarter of 2013. Premium Subscriptions represented 20% of total revenue in the third quarter of 2014 and 2013. 
Co issues downside guidance for Q4, sees EPS of ~$0.49, excluding non-recurring items, vs. $0.52 Capital IQ Consensus Estimate; sees Q4 revs of $600-605 mln vs. $612.11 mln Capital IQ Consensus Estimate.

4:08 pm Impax Labs announces R&D reorganization designed to yield process improvements and efficiencies; expects to realize ~$8 mln in cost savings beginning in 2015 (IPXL) : The Company expects to realize ~$8.0 million of annual cost savings beginning in 2015 and approximately $1.5 million in the fourth quarter of 2014. The cost savings are the result of a net reduction of approximately 49 positions, including 42 in R&D or about 25% of the combined brand and generic R&D organizations. In the fourth quarter 2014, the Company expects to record certain charges of about $2.0 million associated with the reorganization.

4:07 pm Chemed misses by $0.03, reports revs in-line; guides FY14 EPS above consensus (CHE) :

  • Reports Q3 (Sep) earnings of $1.48 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus Estimate of $1.51; revenues rose 5.1% year/year to $358.4 mln vs the $359.91 mln consensus. 
  • Co issues upside guidance for FY14, sees EPS of $6.00-6.05, excluding non-recurring items, vs. $5.95 Capital IQ Consensus Estimate.

4:07 pm IMAX and Twentieth Century Fox strengthen partnership, sign four-picture international deal (IMAX) : The co and Twentieth Century Fox, a division of 21st Century Fox (FOX), today announced an agreement to release four of Fox's upcoming films in the immersive IMAX format in select international territories, bolstering the companies' growing relationship.

4:07 pm Spansion reports EPS in-line, misses on revs; guides Q4 EPS below consensus, revs below consensus (CODE) : Reports Q3 (Sep) earnings of $0.27 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.27; revenues rose 15.5% year/year to $315.9 mln vs the $325.04 mln consensus.

  • Co issues downside guidance for Q4, sees EPS of $0.26-0.33 vs. $0.35 Capital IQ Consensus Estimate; sees Q4 revs of $290-325 mln vs. $335.65 mln Capital IQ Consensus Estimate.

4:07 pm Essex Property beats by $0.06; raises FY14 FFO above consensus (ESS) : Reports Q3 (Sep) funds from operations of $2.16 per share, $0.06 better than the Capital IQ Consensus Estimate of $2.10.

  • Co raises guidance for FY14, sees FFO of $8.43-8.52 vs. $8.32 Capital IQ Consensus Estimate, from $8.41-8.47. The reason for the increase primarily relates to revised same-property NOI growth.

4:07 pm Fluidigm misses by $0.05, beats on revs; guides FY14 revs in-line (FLDM) : Reports Q3 (Sep) loss of $0.49 per share, $0.05 worse than the Capital IQ Consensus Estimate of ($0.44); revenues rose 61.7% year/year to $29.6 mln vs the $29.12 mln consensus.

  • Non-GAAP product margin was 74% vs 74% in the year ago period 
Co issues in-line guidance for FY14, sees FY14 revs of $114-117 mln from prior range of $112-118 mln vs. $115.77 mln Capital IQ Consensus Estimate. Other FY14 guidance:
  • Non-GAAP operating expenses is expected to be between $95-97 mln, compared to prior guidance of $100-102 mln
  • Stock-based compensation expense is expected to be between $21-22 mln, including $9 million related to assumed share-based awards from the DVS acquisition. 
  • Interest expense is projected to be $5.3 million and capital spending is expected to be between $9-11 mln vs prior guidance of $11-13 mln

4:07 pm Green Dot beats by $0.08, misses on revs; guides FY14 EPS in-line, reaffirms FY14 revs guidance (GDOT) : Reports Q3 (Sep) earnings of $0.36 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.28; revenues rose 5.5% year/year to $146.8 mln vs the $148.82 mln consensus.

  • Co provides guidance for FY14, sees EPS of $1.29-1.33 vs. $1.31 Capital IQ Consensus Estimate; reaffirms FY14 revs of $610-620 mln vs. $610.25 mln Capital IQ Consensus Estimate. 
  • Now expects FY14 adjusted EBITDA2 to be $126-129 mln

4:07 pm Standard Pacific misses by $0.03, misses on revs (SPF) : Reports Q3 (Dec) earnings of $0.14 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.17; revenues rose 18.2% year/year to $604.8 mln vs the $697.92 mln consensus. Q3 2014 backlog value of $1.1 billion, up 17% from Q3 2013.

4:06 pm Western Union beats by $0.06, reports revs in-line, raises FY14 GAAP EPS guidance (WU) : Reports Q3 (Sep) earnings of $0.44 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.38; revenues rose 2.3% year/year to $1.44 bln vs the $1.43 bln consensus.

  • Operating Margin: GAAP operating margin was 21.8% in the third quarter, which compares to 21.0% in the third quarter of 2013. Compared to the prior year period, the operating margin benefited from cost savings initiatives and lower integration costs, partially offset by higher compliance and legal expenses. 

  • Guidance: Co raises EPS guidance, sees GAAP EPS of $1.50 vs. prior guidance of $1.45-$1.50. CapIQ Consensus is $1.47. Reaffirms FY14 revenue guidance of low-to-mid single digit constant currency. Sees GAAP operating margin of ~20%. Sees Cash flow from operating activities of ~$1 bln.

4:06 pm Bally Technologies beats by $0.03, reports revs in-line (BYI) : Reports Q1 (Sep) earnings of $1.17 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.14; revenues rose 28.7% year/year to $320.8 mln vs the $322.6 mln consensus.

4:06 pm A10 Networks misses by $0.03, reports revs in-line (ATEN) : Reports Q3 (Sep) loss of $0.15 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus Estimate of ($0.12); revenues rose 9.0% year/year to $43.43 mln vs the $43.19 mln consensus.

  • "Third quarter revenue was negatively impacted by lower revenue from North America service provider customers, longer than expected close cycles for deals awarded to A10 and a lengthening sales cycle for some select large enterprise deals. Outside of North America most of our regions delivered revenue consistent with or above our expectations. Beyond revenue, higher inventory reserves and write-offs, currency exchange rates and geographic mix caused our gross margin to be below our historical range. On the positive side, we added a record number of new customers in the quarter, including four new customers for our recently launched Thunder TPS solution."

4:05 pm Intevac names James Moniz as Chief Financial Officer (IVAC) : Co announced that Mr. James Moniz will join the Company on November 3, 2014. Mr. Moniz will succeed Mr. Charles Eddy as the co's Chief Financial Officer, Treasurer and Secretary on November 12, 2014, after which Mr. Eddy will continue with the Company as needed to assist Mr. Moniz and assure a smooth transition.

4:04 pm YRC Worldwide beats by $0.02, reports revs in-line (YRCW) : Reports Q3 (Sep) loss of $0.03 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of ($0.05); revenues rose 5.6% year/year to $1.32 bln vs the $1.32 bln consensus. As of September 30, 2014, the company had cash and cash equivalents and amounts able to be drawn under its ABL Facility totaling $212.9 million. For comparison, as of June 30, 2014, cash and cash equivalents and amounts able to be drawn totaled $209.4 million. For the nine months ended September 30, 2014, cash used in operating activities was $26.3 million as compared to cash used in operating activities of $3.0 million for the nine months ended September 30, 2013.

4:04 pm Castlight Health beats by $0.03, beats on revs; guides Q4 EPS below consensus, revs above consensus (CSLT) :

  • Reports Q3 (Sep) loss of $0.18 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of ($0.21); revenues rose 238.9% year/year to $12.2 mln vs the $11.5 mln consensus. 
  • Co issues mixed guidance for Q4, sees EPS of ($0.23)-($0.22), excluding non-recurring items, vs. ($0.20) Capital IQ Consensus Estimate; sees Q4 revs of $12.8-13.2 mln vs. $12.59 mln Capital IQ Consensus Estimate.

4:04 pm Argo Group beats by $0.03, misses on revs (AGII) : Reports Q3 (Sep) operating earnings of $0.89 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.86; revenues rose 2.4% year/year to $372.9 mln vs the $381 mln consensus. 

  • Gross written premiums were $497.2 million compared to $495.1 million for the third quarter of 2013, while net written premiums increased to $380.5 million from $369.9 million for the third quarter of 2013 after deduction of other reinsurance-related expenses. Book value per share increased to $62.99, up 0.3% from $62.80 at June 30, 2014, and up 6.8% from $58.96 at December 31, 2013.

4:04 pm Neustar beats by $0.33, reports revs in-line; guides FY14 EPS above consensus, revs in-line (NSR) : Reports Q3 (Sep) earnings of $1.37 per share, excluding non-recurring items, $0.33 better than the Capital IQ Consensus Estimate of $1.04; revenues rose 7.1% year/year to $243.9 mln vs the $243.2 mln consensus. For FY14, co sees EPS of $4.08-4.25, excluding non-recurring items, vs. $3.93 Capital IQ Consensus Estimate and vs prior guidance of $3.88-4.05; sees FY14 revs of $955-970 mln vs. $964.5 mln Capital IQ Consensus Estimate.

4:03 pm MercadoLibre beats by $0.10, beats on revs - stock is halted (MELI) : Reports Q3 (Sep) earnings of $0.76 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.66; revenues rose 20.1% year/year to $147.9 mln vs the $130.99 mln consensus.  

  • "Our strategic initiatives are driving value for all involved, judging by the success we are having at penetrating and promoting our e-commerce solutions across Latin America. The greater cross-usage of services provided by our ecosystem is enhancing the experience we bring to our users, and the benefits to our business are clearly reflected in our results for the third quarter of 2014."

4:03 pm Union First Mkt Banc declared a quarterly dividend of $0.15 per share, a 7% increase over the previous dividend of $0.14 (UBSH) :  

4:03 pm Avanir Pharmaceuticals announces publication of pivotal Phase III Results from AVP-825 acute migraine study in the journal 'headache;' The TARGET study data demonstrated relief of moderate or severe migraine headache as quickly as 15 minutes (AVNR) : Co announces the publication of results from TARGET, a pivotal phase III study evaluating the ef?cacy and safety of AVP-825 22mg in the Jan 2015 issue of Headache. 

  • AVP-825 is an investigational drug-device combination product consisting of low-dose sumatriptan powder (22mg) delivered intranasally utilizing a novel Breath Powered delivery technology, for the acute treatment of migraine. 
  • The TARGET study data demonstrated relief of moderate or severe migraine headache as quickly as 15 min in subjects receiving AVP-825. A significantly greater proportion of AVP-825 patients reported headache relief at 30 min and at every time point up to two hours post-dose compared with those using the placebo device. 
  • Relief was sustained through 24 and 48 hours in a greater proportion of patients who received AVP-825 vs. placebo. 
  • The treatment was well tolerated with a low incidence of adverse events 

4:02 pm Allison Transmission announces $500 mln stock repurchase program and increased quarterly dividend to $0.15 from $0.12/share (ALSN) :  

4:02 pm Tuesday Morning beats by $0.01, beats on revs (TUES) : Reports Q1 (Sep) loss of $0.14 per share, $0.01 better than the Capital IQ Consensus Estimate of ($0.15); revenues rose 10.1% year/year to $202.2 mln vs the $192.07 mln consensus.

4:01 pm Public Service Long Island restores storm damaged osprey nesting station (PEG) : Co announces it has collaborated with the New York Office of Parks, Recreation & Historic Preservation to install a new osprey nesting pole and platform at the Nissequogue River State Park in Kings Park, NY.

4:01 pm Affymetrix beats by $0.04, beats on revs (AFFX) : Reports Q3 (Sep) earnings of $0.08 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.04; revenues rose 8.3% year/year to $87.1 mln vs the $84.38 mln consensus.

3:40 pm IAMGOLD reported that its Essakane mine in Burkina Faso continues to operate without interruption despite civil unrest in the capital of Ouagadougou, located approximately 320 kilometres from the mine (IAG) : The company continues to monitor the situation closely.

3:30 pm Earnings Calendar (:SUMRX) : Today after the close look for the following companies to report:

  • ATR, CCI, CHE, MBFI, NSR, ATRC, BCOV, COLM, DGII, FFBC, NR, RSG, SBUX, TPX, EMN, AEGR, CSLT, NATI, NEM, NUVA, PCTI, POWI, ATEN, CODE, EGN, EHTH, ELGX, INT, MOH, SAM, SIMG, SQI, STAG, TCO, TSO, ADNC, ADUS, AFFX, AHS, AIV, AVD, AXTI, BEAT, BYD, CPSI, CPT, CTRL, DCT, DGI, EGO, ELLI, ESIO, EXPE, FLDM, FLR, FLT, GB, GDOT, GLPW, GPRO, GSIT, HME, IMMR, IMPV, LNKD, LRE, LYV, MCHP, MHK, MXL, OMCL, ONNN, OUTR, PKI, PPS, PSA, PXLW, SGEN, SPF, SREV, STAA, TMST, TNAV, TSYS, VCRA, WU, YRCW, OIS, AGII, TSRA, GMED, GRPN, SGMS, TRMB, VRTU, ZEN, ESS, HIL, KEG, RAIL, TEP, THRX, AHT, ALJ, CUBE, ELX, FRT, MELI, MYL, OPLK, PKY, SEM, ISBC, GNMK, MTZ, EPAY, QNST, SYNC, SCSC, TUES, BYI, KFX, WSFS, TRUP
Tomorrow before the open look for the following companies to report:
  • COL, AON, MOG.A, NS, VVI, NTLS, TYPE, OSK, D, BUD, COMM, ITT, LM, NWL, PNW, SNE, TE, XOM, AXL, CBOE, CIR, CLX, CVX, DW, GWR, HLT, HPY, MGI, PNM, SPR, TDS, USM, WETF, WY, XLS, MMP, VTG, IXYS, MSG

3:05 pm Afternoon slide cuts S&P +5.9 rally off morning low in half at 1987 (:TECHX) :  

3:03 pm Salisbury Bancorp and Heartland Finl's (HTLF) Riverside Bank announce approval of their proposed merger by the shareholders of both companies (SAL) : Co announced that the merger of Riverside into Salisbury Bank and Trust Company, the wholly-owned subsidiary of Salisbury, has been approved by shareholders of both entities at their respective special shareholders' meetings held on October 29, 2014.

  • The merger received overwhelming support by shareholders of both Salisbury and Riverside. 
  • ~ 65.09% of Salisbury shares voted at the meeting were voted in favor of approving the Merger Proposal and ~ 79.89% of Riverside shares voted at the meeting were voted in favor of approving the Merger Proposal. 
  • In addition, ~ 64.18% of Salisbury shares voted at the meeting voted in favor of Salisbury's proposal to amend its Certificate of Incorporation to increase its shares of authorized common stock and to eliminate provisions relating to the minimum and maximum number of directors on its board of directors.

3:02 pm Cirrus Logic hammered after reporting, vacillating near its six month close low from Oct at 18.99 -- session low 18.90 (CRUS) : The Oct intraday low does not come into play until 18.39. 

3:01 pm Cerner: MedStar Health signs expanded agreement with Cerner (CERN) : The new alignment will allow access to all Cerner solutions and services throughout MedStar's 10 hospitals and 3,000 plus beds, as well as the ambulatory and post-acute network. Cerner will provide MedStar an expanded enterprise Electronic Health Record that will provide clinicians seamless access to patient information across the continuum of care.

3:01 pm General Dynamics receives $84 million award for Ohio replacement program missile tubes (GD) : The contract provides funding for 17 tactical missile tubes: 12 for the U.K. Successor submarine; four for the Ohio Replacement submarine; and one for the Strategic Weapons System - Ashore test facility. A total of 241 missile tubes will be manufactured over the course of the program.

  • Initially awarded in December 2012, the five-year, $1.85 billion contract calls for Electric Boat to perform research and development work for the Navy's next-generation ballistic-missile submarine, which is scheduled to begin construction in 2021. 
  • The potential value of the overall contract is $2.3 billion.

2:52 pm Stock indices pull back off afternoon/session highs (:TECHX) : They all have pulled back but the Dow +200 has thus far outperformed in this direction as well -- S&P +8.4, Nasdaq Comp +6

2:24 pm Cinedigm Digital Cinema signs multi-picture, multi-year deal with Moguldom Studios (CIDM) : The co and Moguldom Studios announced today they have entered into a multi-year, multi-picture deal for Moguldom's slate of independent films, which explore stories related to the modern, pop culture experience. The deal provides for no less than 10 new films per year. Additionally, Cinedigm has acquired the distribution rights to seven catalog titles from the Moguldom Studios' library. Cinedigm will have certain US distribution rights to the films, including digital, television, and physical home entertainment.

2:16 pm Dollar Holds 86.00: 10Y: unch..2.309%..USD/JPY: 109.39..EUR/USD: 1.2612 (:SUMRX) :

  • The Dollar Index held 86.00 and has seen a bounce back into the 86.15 area. Click here to see a daily Dollar Index chart.
  • EURUSD is -25 pips @ 1.2610 after recouping most of its early losses. The single currency was pressured to below 1.2550 immediately after the strong U.S. GDP print, but quickly recovered. Trade has been under pressure throughout the session after CPI in both Germany and Spain came in light. Eurozone data scheduled for tomorrow includes core CPI Flash Estimate, the unemployment rate, French consumer spending, and German retail sales. 
  • GBPUSD is -10 pips @ 1.6000 as trade flirts with support in the area. Traders continue to watch this level closely as a breakdown puts the October lows near 1.5900 in jeopardy.
  • USDCHF is +15 pips @ .9560 as action fights to hold the flat line. The pair spiked above .9600 in response to the early weakness in the euro, but has surrendered most of the gains.
  • USDJPY is +60 pips @ 109.45 as trade contends with its best levels in more than six years. The pair saw a boost in afternoon trade amid reports Japanese pension GPIF was increasing its equity allocation to 25% while lowering its Japan debt allocation to 35%. Traders should be mindful of stops in the 110.00 area as the Bank of Japan opines tonight. Japan's household spending and Tokyo core CPI are due out tonight.
  • AUDUSD is +40 pips @ .8835 as trade nears its best levels of the day. Trade pressed to almost .8750 early in the session following the bog let up in import prices, but has moved back towards the upper end of the .8650/.8850 range as risk assets catch a bid. Tonight's Australian data is limited to PPI.
  • USDCAD is flat @ 1.1185 as traders await tomorrow's Canadian GDP report.

2:02 pm Siemens AG: MidAmerican Energy signs long-term service contract with Siemens for 958 SWT-2.3 turbines at 12 wind projects in Iowa (SIEGY) :

  • Under terms of the agreement, Siemens will provide approximately 10 years of service and maintenance for eight MidAmerican wind projects currently in operation as well as four additional projects that are scheduled to become operational during the term of the agreement. Siemens service technicians and engineers will be working and living in and around these Iowa wind projects over the course of the agreement providing significant and sustained economic benefits to the region.

1:50 pm SCANA Corp will restart earnings call and webcast for the Third Quarter financial results due to technical difficulties; will begin at 2:00 p.m. Eastern Time (SCG) :  

1:20 pm Major averages notch new session highs in unison -- Dow +172, S&P +9.9, Nasdaq Comp +12 (:TECHX) :  

1:01 pm Bristol-Myers and Lonza expand manufacturing agreement; terms not disclosed (BMY) : The co and Lonza announced a multi-year expansion of their existing biologics manufacturing agreement. The contract expansion will include the production of commercial quantities of a second Bristol-Myers Squibb biologic medicine at Lonza's mammalian manufacturing facility in Portsmouth, New Hampshire. Financial terms were not disclosed.

12:56 pm Midday Market Summary: Dow Jones Leads (:WRAPX) : The major averages sit on their highs at midday with the Dow Jones Industrial Average (+0.9%) in the lead. Meanwhile, the S&P 500 (+0.3%) trades closer to its flat line, but eight of ten sectors hover in the green.

This morning, the advance reading of Q3 GDP revealed growth of 3.5% while the Briefing.com consensus expected an increase of 3.0%. The news helped propel a rebound in the futures market, which was pressured by early weakness in European equities. However, like their U.S. counterparts, markets in Europe were able to overcome their losses.

The price-weighted Dow has held the lead since the opening bell thanks in large part to an 8.9% surge in the shares of Visa (V 233.79, +19.13). The largest Dow member reported better than expected earnings and boosted its buyback by $5 billion.

Although Visa has given a major boost to the Dow, the payment processor has been unable to lift the technology sector (-0.1%), which remains pressured by chipmakers. The PHLX Semiconductor Index trades down 1.8% after failing to overtake its 50-day moving average (623.72). The high-beta group has surrendered its gain from the first half of the week and is now down 4.0% for the month of October.

Meanwhile, the second decliner, energy (-0.8%), has had to contend with another drop in crude oil. The energy component is lower by 1.3% at $81.15/bbl. For its part, the other commodity-related sector-materials (+0.6%)-is the leading cyclical group.

On the countercyclical side, the utilities sector (+1.6%) has padded its October advance to 7.3% while health care (+1.4%) follows not far behind. The influential sector has been underpinned by strong earnings from AmerisourceBergen (ABC 84.27, +4.53) and Cigna (CI 96.99, +2.99). Biotechnology has also shown strength with the iShares Nasdaq Biotechnology ETF (IBB 295.53, +4.90) trading higher by 1.7%.

Treasuries have inched away from their highs, but they remain in positive territory. The 10-yr yield is lower by two basis points at 2.29%.

Economic data was limited to GDP and Initial Claims:

  • According to the advance estimate, GDP grew at an annualized rate of 3.5% during the third quarter while the Briefing.com consensus expected the reading to come in at 3.0%
    • Real final sales jumped 4.2%, which was the largest spike since Q4 2010 
    • The export deficit narrowed to $409.90 billion from $460.40 billion, boosting GDP growth by 1.32 percentage points 
    • Government spending surged 4.6%, representing the sharpest increase since Q2 2009 
  • Weekly Initial Claims increased to 287,000 from a revised rate of 284,000 (from 283,000) while the Briefing.com consensus called for a reading of 284,000 
    • Claims have held below the 300,000 mark for the past several weeks, suggesting payroll gains should surpass 200,000 
    • Continuing claims increased to 2.384 million from an upwardly revised 2.355 million (from 2.351 million)

12:54 pm European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

  • UK's FTSE:+0.2%
  • Germany's DAX:+0.4%
  • France's CAC:+0.7%
  • Spain's IBEX:+0.2%
  • Portugal's PSI:-1.5%
  • Italy's MIB Index:+0.2%
  • Irish Ovrl Index:+0.3%
  • Greece ASE General Index: -2.8%

12:50 pm Mylan Labs announced the U.S. launch of its Nevirapine Extended-release tablets, which is the generic version of Boehringer Ingelheim's Viramune XR (MYL) : Mylan received final approval from the U.S. Food and Drug Administration for its Abbreviated New Drug Application for this product, which is indicated for combination antiretroviral (:ARV) treatment of HIV-1 infection in adults and in children six to less than 18 years of age. Mylan has begun shipping product. Nevirapine Extended-release tablets, 400 mg had U.S. sales of ~$61.9 million for the 12 months ending September 30, 2014, according to IMS Health.

12:47 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume).

Large Cap Gainers

  • BBD (14.94 +8.81%): Reported YTD net income of BRL 11.22 bln, up 24% y/y; Upgraded to Overweight from Neutral at JP Morgan.
  • V (235.23 +9.58%): Reported Q4 results that beat consensus estimates by $0.08, revs in-line, guided FY15 ~in-line, announced new $5 bln buyback; Upgraded at FBR.
  • BMY (58.34 +7.72%): Announced encouraging results from their Phase 2 study of Opdivo for patients with lung cancer.
Large Cap Losers
  • GG (19.35 -10.07%): Reported Q3 earnings of $0.09 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.19; revenues fell 6.2% year/year to $1.09 bln vs the $1.05 bln consensus; Gold's steep drop on the day to under $1200 an ounce is also adding to the decline.
  • BWA (54.31 -4.48%): Reported EPS in-line, missed on revs; guided FY14 EPS below consensus, revs below consensus.
  • CHRW (69.6 -3.47%): Downgraded to Underperform from Neutral at Credit Suisse; tgt lowered to $65 from $68.
Mid Cap Gainers
  • ACHC (59.86 +13.14%): Beat Q3 consensus estimates by $0.05, beat on revs; raised FY14 EPS above consensus; announced accretive acquisition of CRC Heatlh Group for $1.175 bln.
  • LOPE (48.1 +11.29%): Reported Q3 results that beat consensus estimate by $0.08, beat on revs; guided FY14 above consensus; Announced formulation of independent committee to explore options; Upgraded to Overweight from Neutral at Piper Jaffray.
  • MD (62.33 +10.01%): Beat Q3 consensus estimates by $0.01, beat on revs; guided Q4 EPS; Announces $600 mln buyback, expanded credit facility.
Mid Cap Losers
  • PRXL (53.35 -16.06%): Reported Q1 results that beat consensus estimate by $0.07, reported revs in-line, guided Q2 EPS below consensus, guided FY15 EPS in-line; Downgraded to Neutral at Robert W. Baird, tgt lowered to $63.
  • AUY (4.56 -15.24%): Reported Q3 loss of $0.01 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.06; revenues rose 9.8% year/year to $501.23 mln vs the $569.73 mln consensus.
  • TEX (27.14 -11.25%): Missed Q3 consensus estimates by $0.02, reported revs in-line; reaffirmed FY14 revs guidance, sees FY14 EPS at or near the bottom of previously provided range; Downgraded to Neutral at RW Baird.

12:46 pm Global Eagle and SES Sign a Strategic Partnership to Deliver Global Ku-Band Satellite In-Flight Connectivity to Airlines (ENT) : Co and satellite operator SES announced a ground-breaking agreement, whereby SES will provide global, Ku-band satellite bandwidth to GEE for use in GEE's in-flight connectivity system. As part of the long-term agreement, GEE and SES will work together to enable in-flight connectivity solutions to be provided to airlines around the world.

  • Under this agreement, SES satellites will provide GEE with Ku-band capacity to support GEE's worldwide mobile connectivity solution on a combination of SES satellites, along with select teleport services. With a fleet of over 50 satellites today, and with five more under construction, SES is able to support GEE's airline customers - and their passengers - with robust connectivity on most air routes around the world.

12:40 pm Acxiom announced three strategic hires; Peter Davis joins as group VP, global consulting and analytics, Chris Polishuk as group VP, West Coast, and David Bonalle as head of Digital Impact (ACXM) :  

12:32 pm Relative sector strength (:TECHX) : Sectors that has outperformed the S&P as the indices edge to minor new highs include: Biotech IBB, Pharma PPH, Health XLV, Medical Supplies, Housing XHB, Discretionary XLY, Casino (BYD, MGM, PENN, MCRI, WYNN, CZR, LVS).

12:28 pm Another rough of minor new highs for Dow +153 and S&P +5.8, Nasdaq Comp -0.02 testing flat line again (:TECHX) :  

12:21 pm Yahoo! announced it has appointed Lisa Utzschneider as SVP, Sales, Americas (YHOO) : Lisa will be responsible for Yahoo's advertising business across the Americas and will report directly to CEO Marissa Mayer. Most recently, Lisa led Amazon's (AMZN) display advertising efforts as Vice President of Global Advertising Sales.

12:19 pm Madison Square Garden teams up with Cablevision Systems Corporation (CVC) for valuable audience analytics and insights (MSG) : MSG will use these comprehensive analytics across the company to optimize television viewing and ad placement and pricing, as well as marketing campaigns that focus on ticket sales and engaging sponsorships and advertisers, enabling the company to better serve and grow its customer base. MSG is also planning a pilot with Cablevision to test making its MSG and MSG+ networks addressable to the household for advertisers within the Cablevision (CVC) footprint.

11:54 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (161) outpacing new lows (114) (:SCANX) : Stocks that traded to 52 week highs: ABC, ABCW, ACHC, ADP, ADPT, AEE, AEP, AGII, AGIO, ALGT, ALL, AMGN, ANAC, AVA, AVIV, AWK, BABY, BGCP, BIDU, BIN, BLKB, BMY, BOTJ, BURL, CBPO, CELG, CHD, CHFN, CI, CLCT, COST, CRL, CSX, CTAS, CWT, CYBR, DFT, DLR, DPZ, DTE, DUK, DV, ED, EDE, ELLI, ENSG, EPAM, EROS, ESBF, ETR, EW, EXR, FAF, FFG, FRT, GBNK, GD, GEO, GILD, GMCR, GPC, GPX, GSBC, HAIN, HCN, HDSN, HNI, HPP, HRL, HT, HUBS, HUM, IBCA, IDA, INFN, IRF, IT, ITC, JAH, KRC, LB, LCI, LEAF, LEG, LMT, LNT, LOPE, LOW, MERC, MHFI, MRH, MSEX, MSTR, NAVI, NKE, NOC, NP, NU, ODFL, ORLY, PCG, PEB, PEI, PEOP, PFSW, PG, PNW, POR, PSTB, PTRY, PVTB, RDCM, RDI, RDN, RE, RGEN, ROG, ROL, RSG, SAFT, SCG, SCOR, SFST, SGC, SLG, SMCI, SMMF, SONC, SPNC, SRE, SSNC, STON, STRA, SUI, SXI, SXT, SYF, TE, TEG, TEVA, TFSL, TFX, THG, TRV, TTPH, TTWO, TUES, USLM, USPH, UUU, V, VAC, VASC, VDSI, VPRT, WEC, WGP, WM, WRI, XEL, ZAGG

Stocks that traded to 52 week lows: ABX, ADNC, AEM, AFOP, AG, AIXG, AKG, AMCC, AMRN, ANV, ARAY, ASA, ASGN, AU, AUY, AVL, AVP, AXPW, AXU, BAMM, BBL, BCO, BTG, CAB, CBNJ, CCSC, CDE, CEF, CEL, CGG, COT, CRNT, CRR, CYRN, DMD, DRAM, DRNA, DSS, EPRS, ESCR, EVGN, FCX, FTEK, GG, GLRI, GNBC, GRVY, GSS, GTLS, GTU, GZT, HGG, HL, HMY, HVT, IAG, INS, INVN, IPI, JCTCF, KEG, KGC, KZ, LAS, LEU, LF, LIQD, LOJN, LPG, MUX, NANO, NEM, NGD, NKA, NOA, OGEN, OI, ONP, OPHC, P, PAAS, PHMD, PPP, PTNR, PWE, RCKY, RDEN, REMY, RGR, RIO, RRTS, RTGN, SAND, SID, SLW, SMT, SSRI, STM, SVBL, SVLC, SVM, TGA, TGB, TLM, TRCH, TRX, TSPT, ULBI, VALE, VGZ, VOC, VTG, WNC, WSTL

ETFs that traded to 52 week highs: IBB, ICF, IHF, IYH, RTH, XBI, XLP, XLU, XLV

ETFs that traded to 52 week lows: GDX, GDXJ, SIL, SIVR, SLV

11:53 am Limited new session highs for Dow +140 and S&P +3.7 -- Nasdaq Comp -7 slightly extends push off first hour low (:TECHX) :  

11:48 am Whirlpool: A jury in federal court in Ohio today returned a verdict in favor of Whirlpool in regards to a class action that was brought on behalf of Ohio residents who purchased certain models of front-loading Whirlpool Duet washing machines manufactured between 2001 and 2008 that had a propensity to develop mold and odors (WHR) :  

11:06 am Relative sector strength (:TECHX) : The S&P +2 and Dow +121 have pushed to new session high with the Nasdaq Comp -10 setting a minor new intraday bounce high. Sector displaying some relative strength in recent trade include: Biotech IBB (GILD, PRGO, BMRN, BIIB, MYL, REGN, CELG, ALXN, MDVN), Pharma PPH, Medical Supplies, Health XLV, Rail.

10:51 am Currency Commentary: Dollar Giving Up Some Fed Gains (:SUMRX) :

  • The Dollar Index is sliding lower as it prepares a test of 86. The DXY rallied to 86.45 following the latest FOMC statement. The Fed ended its bond buying program which was widely expected. But the statement proved to be more hawkish then what participants expected. This led to buying in the dollar. However the greenback is giving up some of those gains during U.S. trade. The first look at Q3 GDP came in better than expected (+3.5% vs +3.0% expectations) but the dollar has not reacted much to the news. 
  • The euro is attempting to stabilize at 1.26 following post-Fed selling. The single currency was testing key resistance at the 1.2750 level ahead of the Fed but came under intense selling pressure once the news crossed wires. The euro was able to stabilize at the 1.2550 level and is now back at 1.2615. Inflation data in the region continued to disappoint with Germany and Spain posting lower than expected numbers. But a better than expected Germany Unemployment Change number was better than expected and Spain's Q3 GDP came in line with expectations. This has helped offset some of the weak inflation numbers. 
  • The pound tumbled below the key 1.60 area against the dollar but has been able to regain that level over the past two hours. So far it is holding the level and is stretching out toward session highs of 1.6020. 
  • The yen fell back to the 109 level in response to the dollar rally. Market focus will turn to Bank of Japan announcement expected overnight. The BoJ will provide its latest economic outlook with most expecting the growth numbers tweaked lower. Expectations of further stimulus actions have diminished over the past couple of months (BONDX, FOREX).

10:34 am S&P -1.6 stalls again near flat line, Dow +92, Nasdaq Comp -16 (:TECHX) :  

10:09 am Underperforming Nasdaq Comp -21 slides back toward yesterday's low (:TECHX) : The index has fallen as low as 4521 leaving it modestly above yesterday's post-Fed low at 4517. The Dow fell 73 points off its high to 17020 but held slightly above intraday support noted earlier at 17010/16999.

10:01 am Carnival CEO Gerry Cahill to retire effective November 30 (CCL) : No replacement for Cahill is being named at this point. Cahill has agreed to stay on in an advisory capacity for an unspecified time to provide advice and counsel to the leadership team through the transition period.

10:00 am S&P -5 and Nasdaq Comp -18 stall near flat line, Dow +66 slides off high (:TECHX) : The Dow has edged back after testing its early Oct high at 17099 (session high 17093). Intraday watching 17010/16999 for a read on the health of today's run.

9:53 am Dow +117 continues to pace the way for the major averages -- S&P +1.5 and Nasdaq Comp -1.6 do set minor new session highs (:TECHX) :  

9:51 am Viggle announced a strategic partnership with HitFix that will extend Viggle users' ability to earn points while engaging with content at HitFix (VGGL) : Starting in early 2015, HitFix, which offers breaking news, engaging reviews and in-depth coverage of film, television, music and comedy to millennials, will feature Viggle badges on all their video content that allow viewers to easily and quickly earn Viggle Points.

9:44 am Peregrine Pharma announced the presentation of data from the Phase Ib investigator-sponsored trial of its immunotherapy bavituximab in combination with the chemotherapies pemetrexed and carboplatin in patients with previously untreated, locally advanced or metastatic non-squamous non-small cell lung cancer (PPHM) : Data from this single-arm, open-label, multi-center trial show an overall tumor response of 35%, a median progression-free-survival of 4.8 months, and a median overall survival of 12.2 months. Favorable trends in ORR and OS continue to support bavituximab's potential in NSCLC.

9:43 am Visa extension after post-earnings gap higher start probes its all time close high from Jan 2014 near 233 (V) : The all time intraday high from Jan is at 235.50 (session high 234.70).

9:41 am Opening Market Summary: Visa Boosts Dow Jones Industrial Average (:WRAPX) : Equity indices began the session on a mixed note. The S&P 500 hovers right below its flat line while the price-weighted Dow (+0.5%) has been able to climb out of the gate thanks to strength in its top-weighted component. Visa (V 233.06, +18.40) has spiked 8.6% in reaction to a bottom-line beat and an increased share buyback.

Visa's strength has given a boost to the technology sector (+0.1%) while the remaining nine groups trade mixed. Consumer discretionary (+0.1%), materials (+0.2%), health care (+0.3%), and utilities (+0.3%) outperform while energy (-0.6%), industrials (-0.3%), and consumer staples (-0.3%) lag.

Treasuries remain just below their highs with the 10-yr yield down two basis points at 2.30%.

9:41 am Gladstone Land announces a $24.6 mln farm acquisition in California (LAND) : The co announced that it has acquired two farms consisting of 332 farmable acres in Ventura County, California, for $24.6 million. The property is leased to Sunrise Growers and farmed for berries and tomatoes by Eclipse Berry Farms, LLC, a leading grower and marketer of fresh fruits and vegetables. The two current leases on the property each have a remaining term of nine months with one 2-year renewal option.

9:40 am Outperforming Dow +78 nearing yesterday's high -- S&P -1.4 and Nasdaq Comp -4 working off early lows (:TECHX) :  

9:35 am Visa (V +9%) and MasterCard (MA +6%): Payment networks surge to multi month highs following Sept Q results (V) :  

9:34 am Weaker start for S&P -4.8 and Nasdaq Comp -14, Dow +38 underpinned by V +7.9% (:TECHX) :  

9:31 am PDI Inc announced that John Climaco has resigned from its board of directors effective October 29, 2014 (PDII) : Earlier this morning, PDII confirmed recepit of an unsolicited acquisition proposal from Digirad Corp (DRAD), and subsequently PDI's chariman announced PDI's Board of Directors has reviewed and considered the letter. PDI's Board of Directors does not consider PDI for sale and does not view the letter to be a meaningful offer to acquire PDI.

9:31 am Merit Medical and Bard Access Systems settle dispute (MMSI) : Under the terms of a settlement agreement, Bard Access Systems granted Merit a non-exclusive, worldwide license to manufacture and distribute the SecureLoc Safety Introducer Needle under its own trademark, and a covenant not to sue Merit for the term of all patents covering the SecureLoc. Both parties agreed to dismiss all claims with prejudice in the litigation pending in the Third District Court in Utah.

9:29 am Alcatel-Lucent +14% in Paris following Q2 results with upside operating income; progress on restructuring (ALU) : Telco communications equipment company Alcatel-Lucent (ALU) is +14% in Paris and set to gap up by a similar amount in the US after the co reported a EUR 9 mln net loss in Q2 or EPS of (EUR0.00) vs. the EUR 0.02 consensus and (EUR0.08) last year; rev fell 6% to $3.25 bln vs. $3.33 bln consensus.

  • Operating income +50% to EUR 170 mln vs. EUR 136 mln consensus
  • Investors appear to be encouraged as Q2 results demonstrate progress on co's Shift Plan (restructuring initiatives). 
  • Co will host Investor Day on November 11

9:29 am Axion Power Intl designated as supplier of energy storage and frequency regulation for 9.1 megawatt Pennsylvania solar farm (AXPW) : Co announced it has been designated as the supplier of energy storage and frequency regulation for a solar farm that, when finished, will be the largest in Pennsylvania. The Coatesville Solar Initiative announced its choice of Axion Power and its PbC technology and batteries for the 48-acre project. Axion Power PbC PowerCube technology has been admitted to connect with the 13-state PJM power grid, and brings that certification to the CSI project.

  • Phase I & II of the multi-phased project is comprised of two 2.4 megawatt solar facilities, generating ~6.3 mln kilowatt hours which CSI has contractually agreed to sell Coatesville Area School District through a 25-year solar power purchase agreement. 
  • According to CSI, when completed, the 9.1 megawatt solar farm will be the largest solar park facility in Pennsylvania. 
  • Mr DiGiacinto said that if the CSI solar farm reaches its full potential over a multi-year span, the batteries to be used could total approximately in the 5,000 to 6,000 range based on the proposed size of the project.

9:25 am Atlantic American announced that its BoD has declared a special dividend of $0.02/share (AAME) :  

9:22 am On The Wires (:WIRES) :

  • Gilat Satellite (GILT) announced the successful deployment of the CellEdge small cell over satellite solution to 20 rural sites in Brazil, as part of its agreement with TIM Brasil, the second largest Brazilian operator and the leading company in the pre-paid segment.
  • RCI Hospitality (RICK) announced that its wholly-owned subsidiary will open the newest military-themed Bombshells sports bar/restaurant in the Houston area on Monday, November 3rd.
  • ChannelAdvisor (ECOM) announced the addition of Houzz to its Social Commerce suite. Houzz is a leading online platform for home remodeling and design.
  • Tribune Publishing (TPUB) unveiled a mobile app for the Chicago Tribune, the first in a suite of new mobile apps for the Company's major media brands.
  • Fiserv (FISV) announced the launch of Popmoney for Disbursements, a new service that streamlines and speeds the currently check-dominated process used by businesses to send payments to consumers.

9:18 am Sprint announced that the next generation of connected wearables arrives at Sprint on Friday, Nov. 7, with the launch of Samsung (SSNLF) Gear S (S) :  

9:14 am S&P futures vs fair value: -7.40. Nasdaq futures vs fair value: -19.80. (:WRAPX) : The stock market is on track for a modestly lower open with futures on the S&P 500 trading seven points below fair value. Index futures slipped from their overnight highs at the start of the European session, but have been able to spend the past 90 minutes in a steady climb off their lows.

A better than expected advance GDP report (+3.5%; Briefing.com consensus +3.0%) for the third quarter has contributed to the rebound. Real final sales surged 4.2%, registering the biggest jump since Q4 2010. Also of note, government spending spiked 4.6%, which represents the biggest increase since Q2 2009. Interestingly, the report did not lead to weakness in Treasuries. To the contrary, the 10-yr note climbed to a new high, pressuring its yield almost three basis points to 2.29%. For its part, the Dollar Index (86.18, +0.23) returned to its overnight high before pulling back.

On the corporate front, Dow component Visa (V 225.22, +10.56) is on track to open higher by 4.9% after beating bottom-line estimates and announcing a $5 billion buyback. Peer MasterCard (MA 77.89, +1.90) holds a pre-market gain of 2.5% after it too reported better than expected results.

9:07 am Euronet announces proposed private offering of $350 mln of convertible Senior Notes (EEFT) :

  • Euronet intends to use the net proceeds from the offering of the Notes together with cash on hand, if necessary, to fund the repurchase of up to $80 million of its common stock prior to or concurrently with the pricing of the offering in privately negotiated transactions and to repay borrowings outstanding under its revolving credit facility. 
  • Euronet intends to apply the remainder of the net proceeds, if any, for general corporate purposes, which may include additional share repurchases or acquisitions.

9:07 am Acadia Realty Trust announces pricing of 3.4 mln common share offering (AKR) : Co announced that it expects to receive ~$101.2 mln in estimated gross proceeds from its sale of 3.4 mln common shares of beneficial interest to BofA Merrill Lynch and Barclays.

  • The Company intends to use the net proceeds from the sale of the Shares primarily for future acquisitions, as well as general corporate purposes.

9:06 am Bristol-Myers: Phase 2 objective response rate and survival data for Opdivo in heavily pre-treated advanced squamous cell non-small cell lung cancer; 41% of Opdivo-treated patients were alive at one year; Rolling submission initiated with FDA in April based on CheckMate 063; company expects to complete submission by year end (BMY) : The co announced results from CheckMate -063, a Phase 2 single-arm, open-label study of Opdivo (nivolumab), an investigational PD-1 immune checkpoint inhibitor, administered as a single agent in patients with advanced squamous cell non-small cell lung cancer who have progressed after at least two prior systemic treatments with 65% receiving three or more prior therapies (n=117).

  • With approximately 11 months of minimum follow up, the objective response rate (the study's primary endpoint) was 15% (95% CI = 8.7, 22.2) as assessed by an independent review committee (IRC) using RECIST 1.1 criteria and the median duration of response was not reached. The estimated one-year survival rate was 41% (95% CI = 31.6, 49.7) and median overall survival (mOS) was 8.2 months (95% CI = 6.05, 10.91). These data will be presented during the Plenary Session at the 2014 Chicago Multidisciplinary Symposium on Thoracic Oncology on October 31.

9:06 am Booz Allen Hamilton announced it was selected by GSA for Cloud, Open Source Project under five-year, $64.5 mln contract (BAH) : Co announces is has been selected by The U.S. General Services Administration (GSA.V) to help the GSA's Federal Acquisition Service Office of Integrated Award Environment (IAE) enhance the government's contract award/acquisition process.

  • Under terms of the five-year, $64.5 mln contract, BAH will develop a Cloud Service Broker solution for the GSA's IAE office.
  • BAH will design, develop, implement and operate a single, Common Services platform that will provide future IAE core applications with hosting, search, database and data store, reports, visualization, identity and access management and application programming interface management.

9:04 am Baxter's investigational 20% subcutaneous Immunoglobulin treatment meets efficacy and tolerability endpoints in Phase 2/3 study (BAX) : The Phase 2/3 study evaluated the efficacy, safety, tolerability and pharmacokinetics of IGSC 20 percent in European patients at least two years old with PI. A total of 48 study participants received IGSC 16 percent or IVIG 10 percent for three months, followed by weekly doses of IGSC 20 percent for up to 12 months (median of two sites per infusion). The study met its primary endpoint that measured the rate of validated acute serious bacterial infections, or VASBIs. A single event was reported during treatment with IGSC 20 percent (pneumonia of moderate severity), which equated to a low VASBI rate of 0.022/patient-year compared with the specified threshold of one VASBI/patient-year (P The rate of infections with IGSC 20 percent (without dose adjustment) was 4.38/patient-year and mean serum IgG trough levels were comparable to IGIV 10 percent. There were no serious adverse events (AEs) related to IG treatment. The rate of local AEs considered related to IGSC 20 percent treatment was 0.052/infusion (17 of 48 patients). The majority of local AEs were mild in severity and the most common events were erythema, swelling, pruritus, and pain/discomfort. There were no reports of severe local or systemic AEs related to treatment. Importantly, nearly all infusions (99.8%) were completed without any interruption, slowing, or stopping the infusion.

  • ''Once the global studies have been completed, this data set will form the basis for regulatory submissions in the U.S. and Europe"

9:03 am Keurig Green Mtn and SUPERVALU (SVU) announce new Java Delight Coffee for Keurig Hot Brewers (GMCR) :  

9:03 am Harris receives $18 million order for Falcon III Wideband radios from nation in Central Asia (HRS) : The radios will provide advanced voice and data capabilities for the country's armed forces on the frontline. The order was received during the first quarter of fiscal 2015.

9:02 am American DG Energy announces appointment of Benjami Locke as Co-CEO of American DG Energy; will serve in this role, effective immediately, alongside current CEO, John N. Hatsopoulos. (ADGE) :  

9:01 am Lockheed Martin to acquire Systems Made Simple; terms not disclosed (LMT) : Co announces it has entered into a definitive agreement to acquire Systems Made Simple, a leading provider of health information technology solutions to the U.S. federal government.

  • The terms of the agreement were not disclosed and are not material to Lockheed Martin.

8:59 am S&P futures vs fair value: -9.10. Nasdaq futures vs fair value: -22.80. (:WRAPX) : The S&P 500 futures trade nine points below fair value.

The major Asian bourses finished mixed.

  • In economic data: 
    • South Korea's Industrial Production ticked up 0.1% month-over-month (expected 1.9%; previous -3.9%) while the year-over-year reading fell 1.9% (consensus 2.8%; last -2.8%). Separately, Retail Sales fell 3.2% month-over-month (previous 2.7%) and Manufacturing BSI Index ticked down to 76 from 78 
    • Australia's Import Price Index fell 0.8% quarter-over-quarter (expected 0.3%; prior -3.0%) while Export Price Index dropped 3.9% (consensus -4.8%; last -7.9%). Separately, HIA New Home Sales were unchanged month-over-month (prior 3.3%) 
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  • Japan's Nikkei rallied 0.7% to a three-week high. Nintendo surged 7.7% following better than expected quarterly results. 
  • Hong Kong's Hang Seng shed 0.5% after being rejected by the 100-day average as disappointing earnings weighed. Energy plays PetroChina and CNOOC slumped 1.3% and 5.1%, respectively, after missing analyst estimates. 
  • China's Shanghai Composite climbed 0.8% to its best level since February 2013. China Railway Group jumped the limit, 10%, on reports of more state-owned enterprise reform. 
  • India's Sensex added 0.9% to close at a record high. IT service providers paced the advance as Infosys gained 1.6% and Tata Consultancy Services advanced 2.3%. 
Major European Indices have climbed off their lows, but they remain down across the board with Spain's IBEX (-1.2%) showing the largest decline. European equities have retreated on a broad basis despite better than expected earnings from Renault, Volkswagen, Eni, Shell, among others. Elsewhere, Greek government bonds are sharply lower in response to headlines from Germany indicating there will be no more support for the troubled sovereign
  • Participants received several data points: 
    • Eurozone Business and Consumer Survey rose to 100.7 from 99.9 (expected 99.7) 
    • Germany's Claimant Count declined 22,000 (consensus 5,000; previous 9,000), but the Unemployment Rate held steady at 6.7%, as expected 
    • Spain's GDP rose 0.5% quarter-over-quarter while the year-over-year reading jumped 1.6%. Both figures matched expectations. Separately, CPI ticked down 0.1% year-over-year (consensus 0.0%; last -0.2%) 
    • Great Britain's Nationwide HPI rose 0.5% month-over-month (expected 0.3%; previous -0.1%) while the year-over-year reading jumped 9.0% (consensus 8.5%; prior 9.4%) 
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  • In France, the CAC trades down 0.3% with financials on the defensive. BNP Paribas and Societe Generale hold respective losses of 1.5% and 3.3%. Alcatel-Lucent and Renault outperform with respective gains of 11.6% and 2.3% in reaction to better than expected results. 
  • Great Britain's FTSE is lower by 0.6% amid broad weakness. Miners lead the retreat with Anglo American, Fresnillo, and Randgold Resources down between 3.0% and 3.6%. 
  • Germany's DAX holds a loss of 0.8% with all but two components in the red. Deutsche Lufthansa has given up 6.2% in reaction to disappointing results while Bayer and Volkswagen outperform with gains close to 0.8% apiece. Volkswagen reported above-consensus results while Bayer boosted its guidance. 
  • Spain's IBEX is lower by 1.2% with Bankia, BBVA, and Bankinter down between 1.9% and 2.4%.

8:59 am Autodesk announces it intends to invest up to $100 mln in 3D printing companies over the next several years (ADSK) :  

8:58 am Kimberly-Clark: Eagan Avenatti, LLP announces $500 million class action lawsuit filed against KMB over concerns that protective medical gowns fail safety tests and spark Ebola concerns (KMB) : Eagan Avenatti, LLP, a Southern California-based law firm, filed a class action lawsuit yesterday in the United States District Court for the Central District of California in Los Angeles, alleging that Kimberly-Clark Corporation has committed fraud in the marketing and selling of certain of their protective medical gowns. In particular, the suit states that the company has falsely represented to the FDA, health care workers and the general public that the company's "MICROCOOL Breathable High Performance Surgical Gowns" are impermeable and provide protection against Ebola despite the fact that the company has known since 2013 that these gowns failed industry tests and do not meet relevant standards, thus placing healthcare professionals and patients at considerable risk for infection and serious bodily harm.

8:56 am On The Wires (:WIRES) :

  • Ingram Micro (IM) has signed a deal with Powa Technologies to distribute the PowaPOS T-series POS solution in the North American marketplace. With this move, the global technology leader further cements its commitment to building out its growing Point-of-Sale business, selecting PowaPOS as the best-in-class tablet-POS solution based on its unique, fully integrated design, advanced features and EMV-readiness.
  • Ryder System (R) announced that Northeast Foods has signed a full-service lease agreement for 25 compressed natural gas tractors.
  • Corning (GLW) hosted a ceremony to recognize capacity enhancements at its manufacturing facility in Kaiserslautern, Germany.
  • SP Plus (SP) has entered into an agreement to establish a joint venture with Parkmobile USA, which is anticipated to close on October 31, 2014. 
  • Barracuda (CUDA) extended email management capabilities for Microsoft (MSFT) Azure customers via Barracuda Message Archiver and Barracuda Spam Firewall now being available in the Microsoft Azure Marketplace.
  • Molecular Profiles Ltd., a subsidiary of Columbia Laboratories, (CBRX) and Maryland-based Xceleron have announced a collaboration to assist drug developers with improved efficiency during clinical development that will be launched at AAPS in San Diego next week.
  • Celator Pharmaceuticals (CPXX) announced that Dr. Lawrence Mayer, President, Founder and Chief Scientific Officer of Celator, will present at the 2014 American Association of Pharmaceutical Scientists Annual Meeting and Exposition in San Diego, California on Wednesday, November 5, 2014, as part of the Advances in Lipid-Based Delivery Systems for Transdermal, Oral, and Parenteral Administered Drugs session.
  • Insight (NSIT) announced several leading retailers have completed comprehensive Retail Ready programs to refresh their retail store technology infrastructure to improve their customers' online and in-store experiences, without ever closing their doors. 
  • Mellanox Technologies (MLNX) announced its 40GbE NICs support the recently released Open Compute Project 2.0 server and storage specification. The company also announced its 10 and 40GbE NIC will support the new Microsoft (MSFT) Open CloudServer specification 'version 2'. 
  • Hansen Medical (HNSN) announced the Sensei X2 Robotic System is commercially available in the U.S. and European Union.

8:54 am Hilton Hotels signs exclusive license agreement for major expansion of Hampton by Hilton hotels in China (HLT) : Co announces an exclusive license agreement with Plateno Hotels Group, one of China's leading hospitality groups, to rapidly launch and develop the Hampton by Hilton brand in China. With this agreement, Hampton plans to have over 400 deals signed, with the first hotel expected to open by the end of 2015. HLT currently has a footprint of five brands operating more than 17,000 rooms in China with nearly 50,000 rooms in the pipeline.

8:54 am Chembio Diagnostics's DPP HIV 1/2 Assay Receives CLIA Waiver From FDA (CEMI) : The co announced that the U.S. Food and Drug Administration granted a CLIA Waiver for the Company's DPP HIV 1/2 Assay. Chembio's DPP HIV 1/2 Assay was FDA-approved previously, and the CLIA Waiver will allow Chembio to expand into important new channels that are closest to patient care including physician-office-lab facilities, clinics and other community healthcare providers.

8:52 am Western Gas Partners prices public offering of 7.5 mln common units at $70.85 per unit (WES) :

  • The Partnership expects to use the net proceeds from the offering, including any net proceeds received from the exercise of the underwriters' option to purchase additional common units, to fund a portion of the cash purchase price of its pending Nuevo Midstream, LLC acquisition.

8:51 am KLA-Tencor announces offering of senior notes (KLAC) : Co announced that it intends to offer, subject to market and other conditions, senior notes under an automatic shelf registration statement on file with the SEC.

8:51 am Dominion begins construction activities for Cove Point LNG export project (D) :

  • The Cove Point LNG Export project is estimated to cost between $3.4 billion and $3.8 billion and will create thousands of skilled construction jobs, 75 permanent jobs and an additional $40 million in annual tax revenue to Calvert County. The county today receives $15.7 million a year from the LNG import facility.
  • The proposed export facility will be within the 131-acre footprint of the existing LNG terminal site. No new pipelines or storage tanks are needed at the facility. It is targeted to begin operations in late 2017.

8:46 am European Markets Update: CAC -0.7%, FTSE -0.9%, DAX -1.2%, IBEX -1.3% (:SUMRX) : Major European Indices trade lower across the board with Spain's IBEX (-1.3%) showing the largest decline. European equities have retreated on a broad basis despite better than expected earnings from Renault, Volkswagen, Eni, Shell, among others. Elsewhere, Greek government bonds are sharply lower in response to headlines from Germany indicating there will be no more support for the troubled sovereign

  • Participants received several data points: 
    • Eurozone Business and Consumer Survey rose to 100.7 from 99.9 (expected 99.7) 
    • Germany's Claimant Count declined 22,000 (consensus 5,000; previous 9,000), but the Unemployment Rate held steady at 6.7%, as expected 
    • Spain's GDP rose 0.5% quarter-over-quarter while the year-over-year reading jumped 1.6%. Both figures matched expectations. Separately, CPI ticked down 0.1% year-over-year (consensus 0.0%; last -0.2%) 
    • Great Britain's Nationwide HPI rose 0.5% month-over-month (expected 0.3%; previous -0.1%) while the year-over-year reading jumped 9.0% (consensus 8.5%; prior 9.4%) 
------
  • In France, the CAC trades down 0.7% with financials on the defensive. BNP Paribas and Societe Generale hold respective losses of 1.5% and 3.3%. Alcatel-Lucent and Renault outperform with respective gains of 11.6% and 2.3% in reaction to better than expected results. 
  • Great Britain's FTSE is lower by 0.9% amid broad weakness. Miners lead the retreat with Anglo American, Fresnillo, and Randgold Resources down between 3.0% and 3.6%.
  • Germany's DAX holds a loss of 1.2% with all but two components in the red. Deutsche Lufthansa has given up 6.2% in reaction to disappointing results while Bayer and Volkswagen outperform with gains close to 0.8% apiece. Volkswagen reported above-consensus results while Bayer boosted its guidance. 
  • Spain's IBEX is lower by 1.3% with Bankia, BBVA, and Bankinter down between 1.9% and 2.4%.

8:46 am Kandi Technologies plans to deliver 1,000 Kandi Brand EVs to launch the car-share program in Chengdu (KNDI) : Chengdu is the provincial capital of Sichuan province in Southwest China with over 14 million inhabitants. Being one of the most important centers for economic, technology, communication, and education in Western China, Chengdu has been chosen by the government to be one of the national renewable energy automobile pilot cities.

8:46 am Ceragon misses by $0.02, beats on revs (CRNT) : Reports Q3 (Sep) loss of $0.05 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of ($0.03); revenues rose 7.5% year/year to $99 mln vs the $94.97 mln consensus. 

  • Gross margin on a non-GAAP basis was 25.7% of revenues in the third quarter of 2014, compared to 31.9 % of revenues in the third quarter of 2013, and compared to 27.0 % of revenues in the second quarter of 2014.

8:44 am MakeMyTrip beats by $0.01, beats on revs; guides FY15 revs in-line (MMYT) :

  • Reports Q2 (Sep) loss of $0.04 per share, $0.01 better than the Capital IQ Consensus Estimate of ($0.05); revenues rose 37.8% year/year to $32.1 mln vs the $29.61 mln consensus. 
  • Co issues in-line guidance for FY15, sees FY15 revs of $136-138 mln vs. $136.90 mln Capital IQ Consensus Estimate.

8:37 am Interdigital Comm beats by $0.14, beats on revs (IDCC) : Reports Q3 (Sep) earnings of $0.34 per share, $0.14 better than the Capital IQ Consensus Estimate of $0.20; revenues fell 29.8% year/year to $77.6 mln vs the $71.75 mln consensus. 

  • "We saw a dramatic increase in recurring revenue year over year, our licensee base is large and key licensees continue to perform well, and we are actively working to extend the portion of the market under license. Our jury trial win this week in our patent infringement case with ZTE is certainly a very positive development in that regard."

8:37 am RBC Bearings beats by $0.01, reports revs in-line (ROLL) : Reports Q2 (Sep) earnings of $0.70 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.69; revenues rose 10.4% year/year to $112.56 mln vs the $111.95 mln consensus.

  • The increase in net sales was mainly the result of a 16.5% increase in industrial sales driven by construction, oil and gas, the general industrial markets, and the inclusion of CMP.

8:37 am Hemispherx Biopharma reports new evidence -- based potential of Ampligen against Ebola Virus Disease; Ebola VP35-induced sequestration of a critical antiviral/immune activator is responsible for high mortality: a new drug target (HEB) : Co reported a new peer reviewed publication entitled, "The Quest for Effective Ebola Treatment; Ebola VP35 is an Evidence-Based Target for dsRNA Drugs" in the Nature Group's current issue of Emerging Microbes and Infections.

  • This publication was authored by affiliates of Hemispherx. The publication provides an illustration of the crystallographic coordinates of a truncated VP35 complex with dsRNA.
  • Multiple investigators have demonstrated that VP35 binds dsRNA and molecular crystallographic analysis has demonstrated that binding is achieved by non-covalent bonding with the dsRNA phosphodiester backbone and thus shielding of viral produced dsRNA from host antiviral signaling pathways. 
  • Epitope expansion has also been observed with Ampligen applied intranasally in man and this property may also result in antibody levels to accelerate recovery from Ebola and evade mutational inhibitory properties.

8:37 am Oaktree Capital misses by $0.11, misses on revs (OAK) :

  • Reports Q3 (Sep) earnings of $0.47 per share, $0.11 worse than the Capital IQ Consensus Estimate of $0.58; revenues fell 23.0% year/year to $278.5 mln vs the $282.44 mln consensus. 
  • Assets under management (AUM.TO) grew to $93.2 billion as of September 30, 2014, from $91.1 billion as of June 30, 2014 and $79.8 billion as of September 30, 2013. Management fee-generating assets under management grew to $79.1 billion as of September 30, 2014, from $77.8 billion as of June 30, 2014 and $66.9 billion as of September 30, 2013.

8:35 am PDI Inc confirms receipt of unsolicited acquisition proposal from Digirad Corporation (DRAD); 'PDI's Board of Directors does not consider PDI for sale and does not view your letter to be a meaningful offer to acquire PDI' (PDII) : Letter from Chairman of PDI Board: "I am in receipt of your letter dated October 29, 2014 regarding Digirad's willingness to offer to acquire PDI, Inc.  PDI's Board of Directors has reviewed and considered your letter. PDI's Board of Directors does not consider PDI for sale and does not view your letter to be a meaningful offer to acquire PDI."

8:35 am New York Times beats by $0.03, reports revs in-line; guides Q4 (NYT) : Reports Q3 (Sep) earnings of $0.03 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of ($0.00); revenues rose 0.8% year/year to $364.7 mln vs the $365.76 mln consensus. 

  • Total circulation revenues in the fourth quarter of 2014 are expected to increase at a rate similar to that of the third quarter of 2014. 
  • Total advertising revenues in the fourth quarter of 2014 are expected to decrease in the mid-single digits compared with the fourth quarter of 2013. 
  • Operating costs and adjusted operating costs are each expected to be roughly flat in the fourth quarter of 2014 compared with the fourth quarter of 2013. 
"Digital advertising revenue saw its third consecutive quarter of positive growth -- up nearly 17 percent year-over-year -- and print advertising revenue rallied in September as well, putting overall advertising revenues at roughly flat, despite a difficult prior-year comparison.

8:34 am CVR Partners misses by $0.05, misses on revs (UAN) : Reports Q3 (Sep) earnings of $0.17 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.22; revenues fell 3.6% year/year to $66.7 mln vs the $71.41 mln consensus.

  • Adjusted EBITDA was $21.1 million for the third quarter of 2014, compared to adjusted EBITDA of $28.2 million for the third quarter of 2013.
  • Metrics: Average realized gate prices for UAN and ammonia were $254 per ton and $503 per ton, respectively, compared to $259 per ton and $505 per ton, respectively, for the same period in 2013. UAN produced 99,800 tons of ammonia and purchased approximately 4,000 additional tons of ammonia during the third quarter of 2014, of which 11,800 net tons were available for sale while the rest was upgraded to 223,500 tons of UAN. 
  • Distributions: UAN also announced today a third quarter 2014 distribution of 27 cents per common unit. The distribution will be paid on Nov. 17, 2014, to unit-holders of record on Nov. 10, 2014.

8:34 am World Wrestling beats by $0.09, misses on revs; raises OIBDA outlook (WWE) : Reports Q3 (Sep) loss of $0.08 per share, $0.09 better than the Capital IQ Consensus Estimate of ($0.17); revenues rose 6.1% year/year to $120.2 mln vs the $133.2 mln consensus. 

  • Compared to its previous Business Outlook (released July 31), the Company has improved its 2014 Adjusted OIBDA outlook by approximately $15 million to $20 million on an adjusted basis at all WWE Network subscriber levels. The improvement reflects the significant cost savings achieved to date.
  • New Simplified Price Plan: Beginning November 1, the Company will introduce a new simplified price plan at $9.99 per month with no commitment (cancel at any time). Current subscribers will benefit from this new simplified plan as they are migrated to this new plan beginning in December. The new pricing structure reflects management's belief in the broad appeal of WWE Network content and is comparable to that of other subscription-based content platforms including Netflix and Hulu Plus. Additionally, all new subscribers who register for the network in November will receive the month of November for free, including the opportunity to watch Survivor Series live on Sunday, November 23rd. 

8:34 am Standard Motor misses by $0.07, misses on revs (SMP) : Reports Q3 (Sep) earnings of $0.74 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus Estimate of $0.81; revenues fell 2.7% year/year to $257 mln vs the $270.19 mln consensus.

  • "We are disappointed with our third quarter results, which essentially resulted from a decline in sales compared with the third quarter of 2013. However, our profits remain healthy, as our nine months earnings from continuing operations, as stated above, were 6.5% above the comparable period in 2013, and were an all time record for the Company."
  • "To sum up, despite the disappointing sales, we believe industry demographics remain favorable and have a positive outlook for our future."

8:34 am ITC Holdings reports EPS in-line, misses on revs; reaffirms FY14 EPS guidance (ITC) : Reports Q3 (Sep) operating earnings of $0.47 per share, in-line with the Capital IQ Consensus Estimate of $0.47; revenues rose 13.1% year/year to $270.1 mln vs the $273.85 mln consensus. Co reaffirms guidance for FY14, sees EPS of $1.83-1.90 vs. $1.88 Capital IQ Consensus Estimate. 

  • ITC is revising its 2014 capital guidance to a range of $785 to $835 million from the previous range of $730 to $840 million. This revised range includes $255 to $265 million for ITC Transmission, $130 to $145 million for METC, $280 to $295 million for ITC Midwest and $120 to $130 million for ITC Great Plains.

8:34 am Orient Paper announces temporary suspension of production for APEC Summit; company cautions that this unplanned suspension may potentially reduce Q4 revenue by 6-$8 mln when compared to previously issued guidance (ONP) : The co announced that it will temporarily suspend manufacturing operations for the period October 30 through November 12, 2014, in accordance with an executive mandate from the Baoding city government.

  • Among other activities, the mandate suspends production in the industries of paper manufacturing, textile printing and dyeing, cement, mining, construction and chemical manufacturing. The purpose of the directive is to help minimize air pollution during the Asia-Pacific Economic Cooperation ("APEC") Economic Leaders Week summit to be held in Beijing from November 5 through November 11, 2014.  APEC Economic Leaders Week is an important gathering of world leaders to discuss economic development initiatives.  Industrial activity throughout Hebei province is occasionally subject to this type of restriction during high profile and sensitive events in Beijing.
  • Normal production will resume on November 13, 2014, in compliance with the terms of the directive.

8:34 am Clean Diesel Technologies unveils breakthrough clean air technology; eliminates need for expensive platinum group and rare earth metals (CDTI) : Co announces the United States Patent and Trademark Office awarded it two new patents covering CDTI's new technology that replaces costly platinum group and rare earth metals in catalytic converters. These patents represent the first of a family of patents for CDTI's Spinel technology, a clean emissions exhaust technology that promises to dramatically reduce the cost of attaining more stringent clean air standards.

8:33 am CVS Health announces new clinical affiliations with leading regional health systems (CVS) : The co announced toay it has entered into new clinical affiliations with three leading regional health systems to enhance access to high-quality, affordable health care services for patients. The collaborating health systems include Baptist Health System in Alabama; Community Health Systems affiliated hospitals which include Commonwealth Health in Pennsylvania, Northwest Medical Center, including Oro Valley Hospital in Arizona, and Tennova Healthcare in Tennessee; and Premier Health in Ohio. Through these clinical affiliations the patients served by these health systems will continue to have access to clinical support, medication counseling, chronic disease monitoring and wellness programs at CVS/pharmacy stores and MinuteClinic, the retail medical clinic of CVS Health. In addition, CVS Health will provide critical prescription and visit information to the participating health systems through the integration of secured electronic medical record systems.

8:32 am On Track Innovations launches Uno; Uno enables NFC capability for existing POS terminals and unattended and self-serve machines (OTIV) : Co announces introduction of Uno an ultra-compact, multi-purpose NFC reader for contactless payments, such as with Apple Pay, Softcard, and the company's WAVE device.

  • The reader, which is in the certification process by the major card associations, was designed specifically for attended and unattended retail environments. 
  • Uno's form-factor and features enables easy integration and installation in unattended self-service payment stations, including ATMs, add value machines, ticket vending machines, gaming and gambling machines, kiosks, access control, mass transit gates and more. 

8:32 am S&P futures vs fair value: -9.90. Nasdaq futures vs fair value: -24.80. (:WRAPX) : The S&P 500 futures trade ten points below fair value.

The advance third quarter GDP report indicated growth of 3.5%, which was better than the 3.0% increase that had been expected by the Briefing.com consensus. Meanwhile, the third quarter GDP Deflator came in at +1.3%, while the Briefing.com consensus expected a reading of +1.5%.

Separately, the latest weekly initial jobless claims count totaled 287,000, while the Briefing.com consensus expected a reading of 284,000. Today's tally was above the revised prior week count of 284,000 (from 283,000). As for continuing claims, they rose to 2.384 million from 2.355 million.

8:32 am Kite Realty receives investment grade credit ratings from Moody's Investor Service and Standard and Poor's ratings services; Co received Baa3 rating from Moody's and BBB- rating from Standard and Poor's (KRG) :  

8:32 am Market View: Dec. stock-index futures trade below fair values but are off overnight lows following the 8:30 a.m. ET economic data points (:TECHX) :

  • ESz4 now trades @ 1967.00 -5.25

  • YMz4 now trades @ 16887 -37

  • NQz4 now trades @ 4058.00 -14.25

8:31 am Great Panther Silver intersects 7.45 metres assaying 1,133g/t silver and 6.86g/t gold in San Ignacio Mine surface drill program (GPL) : The San Ignacio Mine entered commercial production in June as a satellite operation to the main Guanajuato Mine. It is currently operating at approximately 200 tonnes per day, with ore being trucked 22 kilometres to the Company's Cata processing plant. As mineralization is close to surface, access and mine development is provided by a main ramp with auxiliary production levels. The closest of the new exploration holes, ESI14-117, is only about 45 metres south and at the same elevation as the existing production level. Consequently, these new results can be used for follow up underground drilling and development in 2015.

8:29 am Neptune Technologies receives TSX approval for normal course issuer bid (NEPT) : Co announces that it has received approval of the Toronto Stock Exchange to proceed with its normal course issuer bid announced on October 15, 2014.

  • Under the bid, Neptune may repurchase for cancellation up to 1.5 mln of its common shares through the facilities of the TSX and Nasdaq Stock Market, representing ~2% of the issued and outstanding common shares of the Corporation as of October 15, 2014.

8:27 am Transalta misses by $0.13 (TAC) : Reports Q3 (Sep) loss of ($0.05) per share, excluding non-recurring items, $0.13 worse than the Capital IQ Consensus Estimate of $0.08; revenues rose 2.6% year/year to $639 mln vs the $583.7 mln consensus.

  • "Our third quarter results reflect the positive impact of steadily improving our base operations and focus on execution. As expected, our operations delivered strong performance and we met our fleet wide operating targets for the quarter. "
  • "Unfortunately, with persistent soft power prices in Alberta, we were unable to translate that performance into improved financial results compared to last year. While we did account for lower Alberta pricing in our 2014 business plan, recent market conditions have been weaker than anticipated and we believe lower prices could be sustained through the end of the year. As a result, we are adjusting our FFO guidance to $735-755 million for the year."

8:26 am Omeros granted pass-through reimbursement status from CMS (OMER) : Co announced that it has received transitional pass-through status for its lead product Omidria (phenylephrine and ketorolac injection) 1%/0.3% from the Center for Medicare & Medicaid Services, the federal agency that administers the Medicare program.

  • Approved earlier this year by the FDA for use during cataract surgery or intraocular lens replacement, Omidria is the only FDA-approved product for intraocular administration that prevents intraoperative miosis (pupil constriction) and reduces postoperative pain, providing consistent and predictable management of these problems for ophthalmic surgeons and their patients. 
  • A large and growing market, cataract and other ILR procedures are among the most common surgical procedures performed in the U.S. with ~4 mln expected in 2015.

8:23 am Enpro Industries beats by $0.15, beats on revs -- cautiously optimistic sales for Q4 will be near Q3's level (NPO) : Reports Q3 (Sep) earnings of $0.75 per share, $0.15 better than the Capital IQ Consensus Estimate of $0.60; revenues rose 9.6% year/year to $302.6 mln vs the $297.2 mln consensus. 

  • "We are cautiously optimistic that sales for the fourth quarter will be near the third quarter's level." COnsensus is $295.4 mln vs. $302.6 mln in 3Q14.
  • "OEM order activity remains firm in our semiconductor, aerospace and trucking markets and we have a substantial shippable backlog in Power Systems in the fourth quarter. However, margins generated by engine revenues and OEM sales are generally lower than our aftermarket margins. As a result, fourth quarter segment margins may be lower than those we reported in the third quarter. We remain excited about the longer term benefits from a number of strategic growth initiatives underway and the potential for additional growth that our new capital structure affords us,"

8:20 am On The Wires (:WIRES) :

  • Vantiv (VNTV) has reached an agreement with MUFG Union Bank, N.A. to provide merchant services to their commercial & corporate relationships.
  • AdCare Health Systems (ADK) has signed agreements with local third party operators to lease seven of its skilled nursing facilities in Georgia and Ohio.
  • 21Vianet Group (VNET) announced that hybrid cloud storage solutions offered by StorSimple, a data storage optimization solution, are now available to all Windows Azure customers in China.
  • NCR (NCR) announced that the Kia Oval cricket ground has chosen NCR and its channel partner, Centegra, to improve the food, drink and hospitality experience for supporters at its iconic cricket ground in central London.
  • Seagate (STX) announced support for Microsoft's (MSFT) Open CloudServer specification version 2. The specification will include new performance enhancements and expand the management software code provided to the open source community, including new deployment and diagnostics functions.
  • PriceSmart (PSMT) announced that on October 29, 2014 the Company successfully opened its first warehouse club in Bogota, Colombia, bringing to 34 the total number of warehouse clubs in operation by the Company.
  • Kohl's Department Stores (KSS) will open its doors at 6 p.m. on Thanksgiving Day, giving customers more time than ever before to shop for top brands, exclusive products and amazing holiday gifts. 
  • Pilatus Bank -- an exclusive private & commercial bank based in Malta with clients across the globe -- has chosen Oracle's (ORCL) FLEXCUBE core banking platform to underpin its private and corporate banking offerings.
  • Jack Henry & Associates (JKHY) Symitar division today introduced Episys Anywhere, a native app that enables credit union employees to conduct common branch activities on a tablet.
  • Lattice Semiconductor (LSCC) will demonstrate a new image sensor solution based on Fairchild Imaging's HWK1910A image sensor and Helion Vision's IONOS IP cores at VISION 2014 in Stuttgart, Germany, November 4-6. 
  • Verint Systems (VRNT) announced its collaboration with Truphone, a global mobile network and leading provider of mobile recording solutions in the UK, US, Hong Kong, Spain and Australia. 
  • Kennedy Wilson (KW) announced that it and its equity partners purchased Villas at Homestead, a 312-unit apartment community located in Centennial, Colorado, for $56.75 million from DiNapoli Capital Partners.
  • ITG (ITG) and FX Connect announced that the ITG Triton execution management system will be integrated with the FX Connect foreign exchange platform.

8:19 am Government Properties Income Trust misses by $0.01, misses on revs (GOV) : Reports Q3 (Sep) funds from operations of $0.61 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.62; rental income rose 13.8% year/year to $64.2 mln vs the $69.99 mln consensus.

8:19 am Borg Warner reports EPS in-line, misses on revs; guides FY14 EPS below consensus, revs below consensus (BWA) : Reports Q3 (Sep) earnings of $0.79 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.79; revenues rose 12.5% year/year to $2.03 bln vs the $2.06 bln consensus.

Co issues downside guidance for FY14, sees EPS of $3.23-3.28 vs. $3.33 Capital IQ Consensus Estimate; Due to weakening foreign currencies, net sales growth is now expected to be 12% to 13% compared with 2013, down from 13% to 15% previously. Operating income, as a percentage of net sales, is still expected to approach 13%, excluding non-comparable items.

8:15 am Tower Intl beats by $0.16, reports revs in-line; raises FY14 EPS above consensus, lowers revs below consensus (TOWR) : Reports Q3 (Sep) earnings of $0.73 per share, excluding non-recurring items, $0.16 better than the Capital IQ Consensus Estimate of $0.57; revenues rose 5.5% year/year to $522.6 mln vs the $524.48 mln consensus.

  • Co raises adj. EPS guidance for FY14, sees EPS of $3.10 vs. $2.96 Capital IQ Consensus Estimate, up from $2.95-3.05.
  • Co lowers guidance for FY14 revenue, reflecting lower customer production in Europe and Brazil and unfavorable currency translation, sees FY14 revs of $2.18 bln vs. $2.2 bln Capital IQ Consensus Estimate, down from prior guidance of $2.20-2.23 bln.
  • Despite these revenue changes, the outlook for adjusted EBITDA, at $217 million, remains within the range of the previous guidance of $217-$220 million

8:15 am Modine Manufacturing misses by $0.08, misses on revs; guides FY15 EPS in-line, revs in-line (MOD) :

  • Reports Q2 (Sep) earnings of $0.05 per share, $0.08 worse than the Capital IQ Consensus Estimate of $0.13; revenues rose 3.6% year/year to $377.3 mln vs the $384.94 mln consensus. 
  • Co issues in-line guidance for FY15, sees EPS of $0.63-0.73 vs. $0.71 Capital IQ Consensus Estimate; sees FY15 revs up 3-6% (roughly $1.52-1.57 bln) vs. $1.55 bln Capital IQ Consensus Estimate.

8:13 am Oculus Innovative Sciences receives European CE mark for new microcyn-based atopic dermatitis hydrogel (OCLS) : Co announces the issuance of a new CE Mark in Europe for Microcyn-based Pediacyn Hydrogel. Pediacyn Hydrogel is indicated for the care of lesions associated with atopic dermatitis by assisting with moistening while forming a protective barrier against physical, chemical and microbial invasion of the atopic dermatitis lesions.

8:12 am Inventure Foods reports Q3 (Sep) results, misses on revs (SNAK) : Reports Q3 (Sep) EPS of $0.15 and adjusted earnings of $0.11 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.14; revenues rose 33.2% year/year to $72.6 mln vs the $73.59 mln consensus.  As previously disclosed, due to primarily using lower margin purchased frozen berries in the third quarter of 2014, the Company expects a shift in earnings of approximately $0.06 per diluted share from the third quarter to the fourth quarter of 2014.

  • The increase in net revenues was due to a 70.1% increase in healthy/natural product portfolio, partially offset by a $3.5 million reduction in Co-Pack business as a result of a ramp up for a product launch in the prior year and the Company's decision to discontinue approximately $1.5 million in lower margin sales.

8:10 am Alpha Natural Resources beats by $0.17, beats on revs; Increasing 2014 Shipment Guidance (ANR) : Reports Q3 (Sep) loss of $0.53 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of ($0.70); revenues fell 11.8% year/year to $1.05 bln vs the $1 bln consensus. 

2014 and 2015 Outlook 

  • Now expect to ship between 79 and 86 million tons, including 17 to 19 million tons of Eastern metallurgical coal, 28 to 30 million tons of Eastern steam coal, and 34 to 37 million tons of Western steam coal. The increase in expected shipment volumes of Eastern metallurgical coal is principally due to a shift of crossover coals into the metallurgical markets, increased use of purchased coal in our sales mix and extension of the WARN notices at several mines. 
  • As of October 21, 2014, 100 percent of the midpoint of anticipated 2014 metallurgical coal shipments was committed and priced at an average expected per ton realization of $85.71. 
  • Guidance for 2014 capital expenditures remains at $225 million to $275 million. Based on preliminary estimates, expect 2015 capital expenditures to range from $275 million to $350 million. The increase in 2015 capital expenditures relative to 2014 is primarily due to anticipated regulatory and environmental investments as well as incremental equipment rebuild expenditures.

8:09 am Journal Commun misses by $0.03, beats on revs; guides for Q4 segment revenue (JRN) :

  • Reports Q3 (Sep) earnings of $0.14 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.17; revenues rose 7.6% year/year to $105.1 mln vs the $103.13 mln consensus. 
  • In 4Q14, excluding political revenue, co expects total television revenue to be up in the mid to high single-digits YoY. In radio, excluding political revenue, co expects revenue increases in the low-single digits YoY. In publishing, co anticipates revenue declines in the mid-single digits YoY. 

8:09 am IdaCorp beats by $0.18; Raises FY14 EPS above consensus (IDA) : Reports Q3 (Sep) earnings of $1.73 per share, $0.18 better than the Capital IQ Consensus Estimate of $1.55.

  • Guidance: Co raises guidance for FY14, sees EPS of $3.70-$3.80 vs. prior guidance of $3.50-$3.65 and vs. $3.59 Capital IQ Consensus Estimate. Sees Idaho Power Operating & Maintenance Expense of $335-$345 mln; Idaho Capital Expenditures, excluding allowance for funds used during construction of $280-$295 mln; and Idaho Power Hydroelectric Generation of 5.9-6.4 (MWh), up from prior guidance of 5.5-6.5 (MWh).

8:08 am O2Micro beats by $0.01, beats on revs (OIIM) : Reports Q3 (Sep) loss of $0.11 per share, $0.01 better than the Capital IQ Consensus Estimate of ($0.12); revenues fell 17.2% year/year to $15.4 mln vs the $15.03 mln consensus. 

  • "Our third quarter results were in-line with the updated guidance that we provided in early October and reflect a difficult quarter in our power management business for notebooks."  

8:07 am MasterCard beats by $0.09, beats on revs -- guidance on call at 9:00 (MA) : Reports Q3 (Sep) earnings of $0.87 per share, $0.09 better than the Capital IQ Consensus Estimate of $0.78; revenues rose 12.8% year/year to $2.5 bln vs the $2.45 bln consensus. 

  • A 12% increase in gross dollar volume, on a local currency basis, to $1.2 trillion; 
  • An increase in cross-border volume of 15%; and 
  • An increase in processed transactions of 10%, to 11 billion. 
  • These factors were partially offset by an increase in rebates and incentives. Acquisitions contributed 3 percentage points to total net revenue growth. 
  • Worldwide purchase volume during the quarter was up 11% on a local currency basis versus the third quarter of 2013, to $843 billion. 
  • As of September 30, 2014, the company's customers had issued 2.1 billion MasterCard and Maestro-branded cards. 
  • MA repurchased ~5.3 million shares of Class A common stock at a cost of $404 million. 
  • Quarter-to-date through October 23, the co repurchased an additional 1.7 million shares at a cost of $121 million, with $310 million remaining under the current repurchase program authorization.
Co will update guidance and QTD payment metrics on the call at 9:00

8:07 am FelCor Lodging beats by $0.02, beats on revs; raises FY14 FFO guidance above consensus (FCH) : Reports Q3 (Sep) funds from operations of $0.21 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.19; revenues rose 1.6% year/year to $234.1 mln vs the $231.24 mln consensus.

  • Co raises guidance for FY14, sees FFO of $0.60-0.62 vs. $0.59 Capital IQ Consensus Estimate, up from $0.56-0.60.

8:07 am Zimmer Hldgs announces executive leadership team and new name of combined company following closing; combined entity to be named 'Zimmer Biomet' (ZMH) : Co announced the future executive leadership team and organizational structure of the combined company following the closing of the Biomet transaction. Zimmer also announced that the combined organization will leverage the strength of both companies' brands and will be named Zimmer Biomet, with the new brand to be rolled out across the combined company following the closing of the merger. The future leadership team is committed to establishing Zimmer Biomet as a global musculoskeletal healthcare leader by building upon the principles and practices that have made both companies so successful.

Full list of Exec. Leadership Changes

8:07 am Sun Communities beats by $0.04, beats on revs; guides Q4 FFO below consensus (SUI) : Reports Q3 (Sep) funds from operations of $0.96 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.92; revenues rose 17.0% year/year to $125.43 mln vs the $111.8 mln consensus. Co issues downside guidance for Q4, sees FFO of $0.67-0.71 vs. $0.77 Capital IQ Consensus Estimate.

8:06 am RTI Surgical beats by $0.01, beats on revs; guides Q4 EPS in-line, revs in-line (RTIX) :

  • Reports Q3 (Sep) earnings of $0.03 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.02; revenues rose 19.2% year/year to $65.2 mln vs the $64.54 mln consensus. 
  • Co issues in-line guidance for Q4, sees EPS of $0.04 vs. $0.04 Capital IQ Consensus Estimate; sees Q4 revs of $68-69 mln vs. $68.41 mln Capital IQ Consensus Estimate.

8:06 am NCI announces $11 mln in TEIS III task orders; company to provide worldwide IT infrastructure support for the U.S. Army (NCIT) : Co announces it was awarded three firm-fixed price task orders and one cost-plus-fixed-fee task order aggregating $10.9 mln under the Total Engineering and Information Systems II contract for IT services in support of the U.S. Army Information Systems Engineering Command. These task orders represent both new and follow-on work for NCI at U.S. Army locations worldwide, and each task order consists of a 12-month base period and one option year.

8:05 am Kellogg beats by $0.02, misses on revs; lowers FY14 guidance (K) : Reports Q3 (Sep) earnings of $0.94 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.92; revenues fell 2.1% year/year to $3.64 bln vs the $3.69 bln consensus.

  • Co issues lowered guidance for FY14, sees EPS of $3.88-3.96 from $3.91-3.99 vs. $3.91 Capital IQ Consensus Estimate. 
  • Guidance Details: Costs associated with Project K are still expected to be in a range between $0.60 and $0.65 per share. As a result, earnings excluding the impact of mark-to-market accounting, integration costs, Project K and other items impacting comparability are anticipated to be between $3.81 and $3.89 per share. This year's 53rd week is still expected to add approximately $0.07 per share to earnings and currency translation is now expected to have no impact on earnings. As a result, the company expects a full-year earnings range including the impact of the 53rd week and currency translation of between $3.88 and $3.96 per share.

8:05 am MGM Resorts misses by $0.08, reports revs in-line (MGM) : Reports Q3 (Sep) loss of $0.02 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus Estimate of $0.06; revenues rose 0.9% year/year to $2.48 bln vs the $2.49 bln consensus.

  • Net revenue at the Company's wholly owned domestic resorts increased 2% compared to the prior year quarter; 
  • Rooms revenue at wholly owned domestic resorts increased 5% with a 6% increase in REVPAR at the Company's Las Vegas Strip resorts compared to the prior year quarter 
  • Adjusted Property EBITDA was $570 million, a 2% increase compared to the prior year quarter;

8:05 am Kennametal beats by $0.01, misses on revs; guides FY15 EPS below consensus (KMT) : Reports Q1 (Sep) earnings of $0.56 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.55; revenues rose 12.1% year/year to $695 mln vs the $708.42 mln consensus.

  • Co issues downside guidance for FY15, sees EPS of $2.80-3.00 vs. $3.01 Capital IQ Consensus Estimate; expects fiscal 2015 total sales growth in the range of 2-4%, with organic sales growth of 1-3%. Previously, the company had forecast total sales growth in the range of 5-7%, with organic sales growth of 3-5%.
  • Co cites weaker economic conditions anticipated for the remainder of fiscal 2015. Key factors include softer customer demand in the Eurozone, lower drilling activity in the oil and gas sector, as well as a continued decline in underground mining production levels. The company now 

8:05 am IBM and Repsol (REPYY) launch world's first cognitive technologies collaboration for oil industry applications (IBM) : Co and Repsol S.A. (REPYY) announced the world's first research collaboration to leverage cognitive technologies that will help transform the oil and gas industry. IBM and Repsol are jointly developing two prototype cognitive applications specifically designed to augment Repsol's strategic decision making in the optimization of oil reservoir production and in the acquisition of new oil fields.

  • Using the capabilities of IBM's pioneering Cognitive Environments Laboratory, Repsol and IBM researchers will work together to jointly develop and apply new prototype cognitive tools for real-world use cases in the oil and gas industry.

8:04 am Goldcorp misses by $0.10, beats on revs; Reaffirms 2014 Production Guidance (GG) : Reports Q3 (Sep) earnings of $0.09 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus Estimate of $0.19; revenues fell 6.2% year/year to $1.09 bln vs the $1.05 bln consensus.

Outlook
The Company today reconfirmed 2014 production guidance of between 2.95 and 3.1 million gold ounces. In light of the pit wall instability at El Sauzal and the suspension of activities at Los Filos in the second quarter, the Company expects gold production guidance to be at the low end of the range of between 2.95 million and 3.1 million ounces. The Company expects all-in sustaining costs at the low end of its guidance range of between $950 and $1,000 per gold ounce. Capital spending guidance remains unchanged at between $2.3 billion and $2.4 billion for 2014.

8:04 am CoreSite Realty beats by $0.02, beats on revs; guides FY14 FFO in-line (COR) :

  • Reports Q3 (Sep) funds from operations of $0.55 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.53; revenues rose 16.3% year/year to $70.5 mln vs the $68.65 mln consensus. 
  • Co issues in-line guidance for FY14, sees FFO of $2.12-2.16 vs. $2.13 Capital IQ Consensus Estimate.

8:03 am Curtiss-Wright: Exec. Chairman Martin Benante announces retirement from Curtiss-Wright (CW) : As part of the formal transition plan announced in 2013, Mr. Benante, 62, will continue as a member of the Board of Directors until the conclusion of the Company's next Annual Meeting in May 2015, at which time he will retire from the Board.

  • Effective January 1, 2015, David Adams will assume the role of Chairman and CEO. 
  • We will continue to have an independent Lead Director preside over executive sessions of the Board.

8:03 am Rosetta Genomics partners with Admera Health for the commercialization of current and future sequencing-based oncology tests (ROSG) : Co announced a collaboration with Admera Health, a spin-off from the clinical services unit of GENEWIZ, Inc. Focused on personalized medicine, Admera Health is a molecular diagnostics company that aims to develop and deliver cost-effective tests that fulfill unmet medical needs, including clinical molecular oncology diagnostics.

  • Under the agreement, Rosetta Genomics will leverage its commercial infrastructure and expertise to market and sell Admera Health's tests to oncologists and pathologists. Co expects to record initial revenue from these test sales by year end, with more significant revenue expected to be generated beginning in 2015 and beyond

8:03 am KEMET beats by $0.04, beats on revs (KEM) : Reports Q2 (Sep) earnings of $0.07 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.03; revenues rose 3.3% year/year to $215.3 mln vs the $208.88 mln consensus.

  • Commentary: "We are extremely pleased that the financial results for the quarter exceeded our expectations. Operating margins, influenced by our cost improvement actions and favorable product mix, improved 340 basis points compared to the prior quarter ended June 30, 2014, surpassing our forecast. Operating margins will continue to be our primary focus for the company. Our expectation for our December 2014 quarter is an operating margin generally at or near the same level as this quarter." 

8:03 am Rocky Mountain Chocolate to expand international franchising activities into the Republic of the Philippines (RMCF) : Under the terms of the non-exclusive Licensing Agreement for the Philippines, the Licensee will open four (4) stores within 30 months following the execution of the agreement.

8:02 am GP Strategies beats by $0.14, reports revs in-line (GPX) : Reports Q3 (Sep) earnings of $0.37 per share, $0.14 better than the Capital IQ Consensus Estimate of $0.23; revenues rose 9.5% year/year to $123.9 mln vs the $124.02 mln consensus.

  • The revenue growth is primarily attributable to strong organic growth in the Learning Solutions segment due to new outsourcing contracts. Gross profit was $22.5 million, or 18.2% of revenue, for the third quarter of 2014 compared to $20.1 million, or 17.7% of revenue, for the third quarter of 2013

8:02 am KBR awarded FEED contract for Tangguh LNG expansion project (KBR) : The co announced that its joint venture partnership with PT Rekayasa Industri, JGC Corporation and PT JGC Indonesia, the RJK JV, has been awarded the onshore front-end engineering and design contract by BP for a third liquefaction train at the Tangguh LNG Project in West Papua province, Indonesia. The expansion project follows the successful completion in 2009 of the two trainTangguh LNG plant and associated facilities by a joint venture partnershipbetween JGC Corporation, KBR and PT Pertafenikki Engineering.

  • Expected revenue from the contract will be included in the fourth quarter of2014 backlog of unfilled orders for the Gas Monetization segment.  The contractvalue was not disclosed.

8:01 am S&P futures vs fair value: -12.30. Nasdaq futures vs fair value: -29.50. (:WRAPX) : U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover 12 points below fair value after slipping from their highs at the start of the European session. The retreat has taken place despite upbeat economic data and earnings from the region.

Meanwhile, the Dollar Index (86.23, +0.28) is working on its second consecutive advance with the greenback logging gains against the euro and the yen. However, some volatility is expected in the foreign exchange market around the 8:30 ET release of Q3 GDP (Briefing.com consensus 3.0%). The advance reading will be released alongside weekly Initial Claims (Briefing.com consensus 284,000).

Treasuries hold slim gains with the 10-yr yield down two basis points at 2.30%.

In U.S. corporate news of note:

  • Baidu (BIDU 221.48, -3.07): -1.4% despite beating earnings estimates and guiding in-line. 
  • JDS Uniphase (JDSU 12.94, +0.51): +4.1% after beating earnings and revenue estimates. 
  • Take-Two Interactive (TTWO 25.00, +2.20): +9.7% in reaction to better than expected results and upbeat guidance. 
  • TASER (TASR 17.60, +1.13): +6.9% following better than expected earnings and revenue. 
  • Teva Pharmaceutical (TEVA 54.30, -0.19): -0.4% after its cautious guidance overshadowed above-consensus earnings and a $3 billion increase to its buyback. 
  • Visa (V 223.00, +8.34): +3.9% after beating bottom-line estimates and announcing a $5 billion buyback. 
Reviewing overnight developments:
  • Asian markets ended mixed. Japan's Nikkei +0.7%, China's Shanghai Composite +0.8%, and Hong Kong's Hang Seng -0.5% 
    • In economic data: 
      • South Korea's Industrial Production ticked up 0.1% month-over-month (expected 1.9%; previous -3.9%) while the year-over-year reading fell 1.9% (consensus 2.8%; last -2.8%). Separately, Retail Sales fell 3.2% month-over-month (previous 2.7%) and Manufacturing BSI Index ticked down to 76 from 78 
      • Australia's Import Price Index fell 0.8% quarter-over-quarter (expected 0.3%; prior -3.0%) while Export Price Index dropped 3.9% (consensus -4.8%; last -7.9%). Separately, HIA New Home Sales were unchanged month-over-month (prior 3.3%) 
    • In news: 
      • The Reserve Bank of New Zealand held its key interest rate unchanged at 3.5%, as expected 
      • Press reports in Japan suggested the government may implement a modest corporate tax rate cut for the next fiscal year
  • Major European Indices trade lower across the board. Great Britain's FTSE -1.0%, France's CAC -1.2%, and Germany's DAX -1.8%. Elsewhere, Italy's MIB -2.5% and Spain's IBEX -2.3% 
    • Participants received several data points: 
      • Eurozone Business and Consumer Survey rose to 100.7 from 99.9 (expected 99.7) 
      • Germany's Claimant Count declined 22,000 (consensus 5,000; previous 9,000), but the Unemployment Rate held steady at 6.7%, as expected 
      • Spain's GDP rose 0.5% quarter-over-quarter while the year-over-year reading jumped 1.6%. Both figures matched expectations. Separately, CPI ticked down 0.1% year-over-year (consensus 0.0%; last -0.2%) 
      • Great Britain's Nationwide HPI rose 0.5% month-over-month (expected 0.3%; previous -0.1%) while the year-over-year reading jumped 9.0% (consensus 8.5%; prior 9.4%) 
    • Among news of note: 
      • European equities have retreated on a broad basis despite better than expected earnings from Renault, Volkswagen, Eni, Shell, among others

8:01 am Health Care REIT, Inc. announces notification of put option and conversion option for 3.00% convertible senior notes due 2029 (HCN) : Co announces it is notifying holders of the $215,965,000 outstanding principal amount of its 3.00% Convertible Senior Notes due 2029 that they have an option to require the company to purchase, on Dec 1, 2014, all or a portion of such holders' Notes at a price in cash equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest to, but not including, Dec 1, 2014. The Repurchase Price does not include the interest accrued up to Dec 1, 2014, which will be paid to the holders of the Notes of record as of Nov 15, 2014.

7:52 am ServiceMaster beats by $0.12, reports revs in-line; guides FY14 revs in-line (SERV) : Reports Q3 (Sep) earnings of $0.45 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 8.0% year/year to $664 mln vs the $665.21 mln consensus. Co issues in-line guidance for FY14, sees FY14 revs of $2.445-2.455 bln vs. $2.45 bln Capital IQ Consensus Estimate. Raises EBITDA to a range of $543-548 mln.

7:48 am On The Wires (:WIRES) :

  • Textura (TXTR) announced that with 1250 Subcontractors using Textura-CPM, the innovative construction payment management solution is now the technology standard for Georgia.
  • Cardtronics (CATM) announced the completion of an ATM installation project linked to a significant expansion of its relationship with Bi-Lo Holdings, which is the parent company of BI-LO.
  • Alliance Data Retail Services, a business of Alliance Data Systems (ADS) introduced its proprietary mobile loyalty suite and second-generation app for retailers. 
  • Statasys's (SSYS) MakerBot announced its partnership with Dell Financial Services will offer 12 Months Special Financing on MakerBot Replicator 3D Printers when using Dell Preferred Account. 
  • Canadian Solar (CSIQ) completed the supply of 3.1 MW of CS6X-300P modules to a solar photovoltaic project in Tipitapa, Nicaragua.

7:48 am Ultra Petroleum beats by $0.02, beats on revs (UPL) : Reports Q3 (Sep) earnings of $0.53 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.51; revenues rose 30.5% year/year to $288.6 mln vs the $272.11 mln consensus. 

  • For the third quarter of 2014, production of natural gas and oil was 62.5 billion cubic feet equivalent (Bcfe). The company's production for the third quarter 2014 was comprised of 57.0 billion cubic feet (Bcf) of natural gas and 927.3 thousand barrels (Mbls) of oil. 
  • Oil production increased 212 percent from the same period last year. Production for 2014 is expected to range between 247 - 250 Bcfe.

7:46 am Starz beats by $0.01, misses on revs (STRZA) : Reports Q3 (Sep) earnings of $0.51 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.50; revenues fell 8.5% year/year to $408 mln vs the $421.24 mln consensus. Increased STARZ subscriptions by 500,000 since September 30, 2013 to a new high of 22.5 million.

7:43 am Care.com beats by $0.09, reports revs in-line; guides Q4 EPS below consensus, revs in-line (CRCM) : Reports Q3 (Sep) adj. loss of $0.31 per share, $0.09 better than the Capital IQ Consensus Estimate of ($0.40); revenues rose 47.9% year/year to $32.1 mln vs the $32 mln consensus.

  • Cross platform monetization accelerated, with 44% of new Payments members sourced via Care.com. 
  • Total members grew 45% to 13.3 million at the end of the third quarter, including approximately 300,000 added via our acquisition of Citrus Lane, compared to 9.2 million in the third quarter of 2013.
Co issues guidance for Q4, sees EPS of ($0.06)-(0.02), excluding non-recurring items, vs. $0.03 Capital IQ Consensus Estimate; sees Q4 revs of $33-35 mln vs. $33.77 mln Capital IQ Consensus Estimate. 

7:43 am Resolute Forest Products misses by $0.06 (RFP) : Reports Q3 (Sep) earnings of $0.18 per share, $0.06 worse than the Capital IQ Consensus Estimate of $0.24; revenues fell 3.0% year/year to $1.1 bln vs the $1.11 bln consensus.

7:43 am Blue Nile reports EPS in-line, revs in-line; guides Q4 EPS in-line, revs in-line (NILE) : Reports Q3 (Sep) earnings of $0.14 per share, in-line with the Capital IQ Consensus Estimate of $0.14; revenues rose 6.9% year/year to $105.76 mln vs the $105.95 mln consensus.

  • Co issues in-line guidance for Q4, sees EPS of $0.42-0.47 vs. $0.43 Capital IQ Consensus Estimate; sees Q4 revs of $159-174 mln vs. $162.13 mln Capital IQ Consensus Estimate.

7:42 am TASER beats by $0.04, beats on revs (TASR) : Reports Q3 (Sep) earnings of $0.14 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 25.9% year/year to $44.3 mln vs the $39.6 mln consensus.

  • The increase in revenue was primarily driven by total law enforcement weapon handle sales which increased $6.9 million in the third quarter compared to third quarter of the prior year. International sales were $6.7 million in the quarter an increase of $3.0 million compared to the prior year third quarter.
  • Gross margin in the third quarter of 2014 was 64.7%, compared to 62.8% in the same period last year. The improvement in gross margin in the third quarter of 2014 was driven by the 26.0% increase in net sales which resulted in better leverage of manufacturing overhead expenses and higher average selling prices

7:41 am FTI Consulting beats by $0.23, beats on revs; Raises FY14 EPS above consensus, revs in-line (FCN) : Reports Q3 (Sep) adjusted earnings of $0.63 per share, $0.23 better than the Capital IQ Consensus Estimate of $0.40; revenues rose 8.8% year/year to $451.2 mln vs the $436.14 mln consensus. 

  • Cash Flow: Net cash provided by operating activities for the quarter was $97.6 million compared to $84.4 million in the prior year. Cash and cash equivalents were $178.8 million at September 30, 2014.
     
  • Guidance: Co raises guidance, sees FY14 EPS of $1.85-$2.00 vs. $1.71 Capital IQ Consensus Estimate; sees FY14 revs of $1.755-$1.77 bln vs. $1.76 bln Capital IQ Consensus Estimate.

7:41 am MiMedx Group beats by $0.01, beats on revs; guides Q4 revs in-line; guides FY15 revs in-line (MDXG) :

  • Reports Q3 (Sep) earnings of $0.03 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.02; revenues rose 108.1% year/year to $33.5 mln vs the $30.98 mln consensus. 
  • Co issues in-line guidance for Q4, sees Q4 revs of $37.3-38.3 mln vs. $38.10 mln Capital IQ Consensus Estimate. 
  • Co issues in-line guidance for FY15, sees FY15 revs of $175-185 mln vs. $180.57 mln Capital IQ Consensus Estimate; co also expects its operating profit margin for full year 2015 to be in excess of 15%.
  • "It is very gratifying to report a quarterly operating profit for the first time in our history..."

7:40 am New Gold misses by $0.15, misses on revs; Reaffirms 2014 Production and Cost Guidance (NGD) : Reports Q3 (Sep) loss of $0.12 per share, excluding non-recurring items, $0.15 worse than the Capital IQ Consensus Estimate of $0.03; revenues fell 13.6% year/year to $169.3 mln vs the $202.03 mln consensus.

New Gold reiterates its 2014 guidance for both production and costs.

7:39 am Public Service beats by $0.03; guides FY14 EPS in-line (PEG) : Reports Q3 (Sep) operating earnings of $0.77 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.74.

  • Co remains on track to achieve results at the upper end of prior guidance range of $2.60-2.75 vs. $2.72 Capital IQ Consensus Estimate.
  • "PSEG performed well in the third quarter despite the impact on demand for electricity due to less favorable weather conditions. Our earnings continue to benefit from the expansion of our regulated utility capital programs."

7:39 am Lincoln Electric beats by $0.03, beats on revs (LECO) : Reports Q3 (Sep) earnings of $0.94 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.91; revenues rose 3.5% year/year to $715.8 mln vs the $704.68 mln consensus.

  • "We are pleased with the underlying quality of our earnings this quarter, which were driven by strong top-line growth and margin contributions from our North America Welding and Europe Welding segments. This performance more than offset a challenging year-over-year comparison from our Venezuela business."

7:39 am Intelsat beats by $0.31, reports revs in-line; reaffirms FY14 revs guidance (I) : Reports Q3 (Sep) earnings of $0.79 per share, excluding non-recurring items, $0.31 better than the Capital IQ Consensus Estimate of $0.48; revenues fell 6.6% year/year to $608.6 mln vs the $614.16 mln consensus. 

  • Co reaffirms guidance for FY14, sees FY14 revs of $2.45-2.50 bln vs. $2.47 bln Capital IQ Consensus Estimate.
  • Given continued favorable collections experience year to date, Intelsat increased the guidance for Adjusted EBITDA margin performance for the full year 2014 to range from 79 percent to 80 percent.

7:38 am MSCI beats by $0.01, reports revs in-line (MSCI) : Reports Q3 (Sep) earnings of $0.50 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.49; revenues rose 10.1% year/year to $251.66 mln vs the $252.76 mln consensus. 

Outlook

  • Full year 2014 Adjusted EBITDA Expenses are expected to be in the range of $595 million to $605 million.
  • The effective tax rate for full year 2014 is expected to be approximately 36%.
  • Full year 2014 capital expenditures, including software capitalization, are expected to be in the range of $50 million to $55 million. 
  • Full year 2014 cash flow from operations is expected to be in the range of $275 million to $325 million. 
  • Annual rate of Adjusted EBITDA Expenses growth is expected to decline in 2015 versus the 17-19% growth implied by 2014 Adjusted EBITDA Expenses guidance.

7:38 am GNC Holdings beats by $0.01, misses on revs; reaffirms FY14 EPS guidance (GNC) : Reports Q3 (Sep) earnings of $0.75 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.74; revenues fell 2.7% year/year to $656.3 mln vs the $666 mln consensus. Same Store Sales - on a product only basis - decrease 6.9% in Q3. Revenue decreased in each of the Company's segments: retail by 1.4%, franchise by 3.1%, and manufacturing/wholesale by 11.4%. 

  • Co reaffirms guidance for FY14, sees EPS of $2.85 vs. $2.84 Capital IQ Consensus Estimate. 
  • "With our strategic review well underway, we have begun to make progress in key areas. This quarter - despite the 6.9 percent decrease in same-store sales - we achieved incremental gross margin dollars in our retail segment as we began to reduce our dependence on extensive promotions. We will continue to test and learn ways to more effectively engage with our customers for profitable growth."

7:37 am S&T Bancorp and Integrity Bancshares, Inc. announce merger; co will acquire Integrity Bancshares for $52.50 per share in a 80% stock and 20% cash transaction; aggregate value of ~$155 mln; expects the merger to be accretive to earnings per share in 2015, inclusive of one-time costs (STBA) : The co and Integrity Bancshares jointly announced today the signing of a definitive merger agreement pursuant to which S&T Bancorp will acquire Integrity Bancshares for $52.50 per share in a 80 percent stock and 20 percent cash transaction.

  • The transaction will have an aggregate value of ~ $155 mln. 
  • Integrity Bancshares, headquartered in Camp Hill, Pennsylvania, has assets of $860 mln and operates eight branches in four counties.
  • The merger will expand S&T Bancorp's footprint into south-central Pennsylvania including Lancaster, York, Dauphin and Cumberland counties. 
  • On a combined basis, S&T Bancorp will have ~ $5.8 bln in total assets. 
  • S&T Bancorp expects the merger to be accretive to earnings per share in 2015, inclusive of one-time costs. 
  • S&T Bancorp and Integrity Bancshares expect to complete the transaction in the first quarter of 2015, after satisfaction of customary closing conditions, including regulatory approvals and the approval of the shareholders of Integrity Bancshares.

7:37 am Invesco beats by $0.02, misses on revs (IVZ) : Reports Q3 (Sep) earnings of $0.64 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.62; revenues rose 11.9% year/year to $1.31 bln vs the $1.33 bln consensus. 

  • Avg. AUM +1.5% QoQ to $802 bln.

7:36 am Rhino Resource Partners reports Q3 (RNO) : Reports Q3 (Sep) loss of ($0.30) per share, $0.09 worse than the Capital IQ Consensus Estimate of ($0.21); revenues fell 12% year/year to $61.4 mln vs the $61.2 mln consensus.

  • "For the fourth quarter, we expect Adjusted EBITDA from continuing operations to be approximately $3.0 million, which is an improvement over the second quarter results. We continue to evaluate our operations and the possible divestiture of certain assets that would lower our ongoing carrying costs."

7:36 am Carbonite beats by $0.05, reports revs in-line; guides Q4 in-line (CARB) :

  • Reports Q3 (Sep) earnings of $0.04 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of ($0.01); revenues rose 13.0% year/year to $31.3 mln vs the $31.3 mln consensus. 
  • Co issues in-line guidance for Q4, sees EPS of ($0.04)-(0.02), excluding non-recurring items, vs. ($0.03) Capital IQ Consensus Estimate; sees Q4 revs of $31.7-32.1 mln vs. $31.99 mln Capital IQ Consensus Estimate.

7:36 am MYOS announces statistically significant top-line clinical data demonstrating Fortetropin's anti-inflammatory biotherapeutic properties; daily use of fortetropin significantly decreases inflammatory cytokine levels; company to explore a much broader range of opportunities for Fortetropin as a treatment option for inflammatory conditions (MYOS) : Co announced new data from its clinical trial conducted at The University of Tampa which examined the effects of Fortetropin in conjunction with modest resistance training in average men. Earlier this year MYOS reported positive data confirming that the use of Fortetropin significantly increases muscle size and lean body mass in recreationally-exercised male subjects. Further analysis of serum biomarkers from subjects in the clinical trial revealed that daily use of Fortetropin significantly decreases inflammatory cytokine levels which demonstrates Fortetropin's promising anti-inflammatory biotherapeutic properties.

  • For subjects in the placebo group, no statistically significant changes in serum levels of IFN-? were noted. 
  • However, subjects in both Fortetropin daily dosing arms experienced statistically significant decreases (p

7:35 am Walter Energy beats by $0.03, reports revs in-line; guides FY14 (WLT) : Reports Q3 (Sep) adj. loss of $1.58 per share, $0.03 better than the Capital IQ Consensus Estimate of ($1.61); revenues fell 27.7% year/year to $329.5 mln vs the $330.37 mln consensus, reflecting a decrease in average met coal selling prices of $22.57 per metric ton ("MT") and a decline in met coal sales of 0.5 million metric tons ("MMTs"). Third quarter results also reflected a reduction in met coal cash cost of sales of $22.04 per ton and a 24% reduction in selling, general and administrative ("SG&A") expenses.

  • adj. EBITDA $0.2 mln vs. $21.3 mln lat year.

Outlook

The Company expects full-year 2014 met coal production of ~9.5 MMTs, within the range previously provided by the Company. Cash cost of sales per ton for the Company's Alabama underground mines is expected to average approximately $96 per MT for the full year, down from the Company's previous target of approximately $100 per MT. Full-year 2014 met coal sales volumes are expected to total ~ 10.0 MMTs, within the previously provided range.

7:34 am SCANA Corp beats by $0.05, reports revs in-line (SCG) : Reports Q3 (Sep) earnings of $1.01 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.96; revenues rose 6.7% year/year to $1.12 bln vs the $1.11 bln consensus.

7:34 am Elizabeth Arden beats by $0.10, reports revs in-line; reiterates its comments regarding the outlook for fiscal 2015 (RDEN) : Reports Q1 (Sep) loss of $0.43 per share, $0.10 better than the Capital IQ Consensus Estimate of ($0.53); revenues fell 20.5% year/year to $273.1 mln vs the $275.07 mln consensus. 

  • Net sales of the Company's North America and International segments declined by 23% and 17% (at constant currency rates), respectively. These sales declines were expected and reflect continued proactive tightening of distribution globally, particularly of Elizabeth Arden branded products, in an effort to improve pricing and gross margins, and lower sales of celebrity fragrances, which primarily impacted the Company's North American business. 
  • The Company reiterates its comments regarding the outlook for fiscal 2015. Specifically, the Company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016, and continues to expect the following:

7:33 am Lithia Motors beats by $0.01, reports revs in-line; reaffirms FY14 EPS guidance, revs guidance; reaffirms FY15 EPS guidance, revs guidance (LAD) : Reports Q3 (Sep) earnings of $1.32 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.31; revenues rose 21.3% year/year to $1.3 bln vs the $1.3 bln consensus.

  • Co reaffirms guidance for FY14, sees EPS of $4.86-4.88 vs. $4.87 Capital IQ Consensus Estimate; sees FY14 revs of $5.2-5.4 bln vs. $5.26 bln Capital IQ Consensus Estimate. 
  • Co reaffirms guidance for FY15, sees EPS of $5.60-5.80 vs. $5.98 Capital IQ Consensus Estimate; sees FY15 revs of $7.4-7.6 bln vs. $7.55 bln Capital IQ Consensus Estimate. 
  • Total same store sales increased 12%. 
  • New vehicle same store sales increased 11%. 
  • Used vehicle retail same store sales increased 13%.

7:33 am Asian Markets Close: Nikkei +0.7%, Hang Seng -0.5%, Shanghai +0.8% (:SUMRX) :

  • The major Asian bourses finished mixed. 
  • Australia saw an unexpected drop in import prices (-0.8% QoQ actual v. 0.3% QoQ expected). 
  • Japan's Nikkei (+0.7%) rallied to a three-week high. Shares of video game maker Nintendo surged 7.7% following better than expected quarterly results. 
  • Hong Kong's Hang Seng (-0.5%) was rejected by the 100 dma as disappointing earnings weighed. Energy plays PetroChina and CNOOC slumped 1.3% and 5.1%, respectively, after missing analyst estimates. 
  • China's Shanghai Composite (+0.8%) rallied to its best level since February 2013. China Railway Group jumped the limit, 10%, on reports of more state-owned enterprise reform.
  • India's Sensex (+0.9%) closed at a record high. IT service providers paced the advance as Infosys gained 1.6% and Tata Consultancy Services added 2.3%. 
  • Australia's ASX (+0.5%) climbed to a six-week high. All of the big four banks gained with ANZ tacking on 1.0%. 
  • Regional Decliners: Vietnam -0.4%...Indonesia -0.3%...Taiwan -0.2%... South Korea -0.1%...Taiwan -0.2% 
  • Regional Advancers: Thailand +0.2%...Malaysia +0.2%...Singapore +0.3%...Philippines +1.1% 
  • Fx: USDCNY ticked up to 6.1159...USDINR edged up to 61.39...USDJPY +15 pips @ 109.00...AUDUSD unch @ .8795

7:32 am SunEdison wins 5 solar photovoltaic projects totaling 150 Megawatts of solar photovoltaic projects in Karnataka India (SUNE) :  

7:32 am Neurocrine Biosci receives breakthrough therapy designation for NBI-98854 in Tardive Dyskinesia (NBIX) :  

7:31 am Navidea Biopharma announces scientific presentations of results from Lymphoseek studies at the European Association of Nuclear Medicine and European Society of Surgical Oncology Meetings (NAVB) : The presentations showed positive and consistent results from Lymphoseek's three pivotal prospective Phase 3 studies in melanoma, breast cancer, and certain head and neck cancers and included associated analysis of the combined data from more than 500 subjects. All three studies showed positive diagnostic performance of Lymphoseek across the solid tumor types studied. To date, no clinically significant drug-related adverse reactions have been reported. Lymphoseek has no contraindications and the most common adverse reactions were injection site irritation and/or pain (

7:31 am Advaxis' ADXS-cHER2 immunotherapy demonstrates T-Cell immune response in data analysis from Canine Osteosarcoma study (ADXS) : Co announced that a data analysis of its ongoing Phase 1 clinical study of ADXS-cHER2 in canine osteosarcoma indicates that the immunotherapy breaks peripheral tolerance to HER2/Neu and induces HER2-specific T cell responses in dogs. Additionally, the data suggest that immune responses induced by ADXS-cHER2 target micrometastases and prevent the development of metastatic disease in this spontaneous and clinically relevant model of human osteosarcoma.

  • The data suggest that ADXS-cHER2 is safe and well tolerated at doses up to 3 x 109 CFU with no evidence of cardiac, hematological, or other systemic toxicities. 
  • The study determined that ADXS-cHER2 is able to delay or prevent metastatic disease and significantly prolong overall survival in dogs with osteosarcoma that had minimal residual disease following standard of care. 
  • Advaxis has granted exclusive worldwide rights to Aratana Therapeutics (PETX) to develop and commercialize ADXS-cHER2 for the treatment of osteosarcoma in dogs. 
  • ADXS-cHER2 has been granted orphan drug status for the treatment of human osteosarcoma by the FDA Office of Orphan Products Development.

7:30 am iRadimed beats by $0.01, reports revs in-line; reaffirms Q4 EPS guidance, revs guidance (IRMD) : Reports Q3 (Sep) earnings of $0.02 per share, $0.01 better than the Capital IQ single analyst estimate of $0.01; revenues rose 52.0% year/year to $3.8 mln vs the $3.8 mln single analyst estimate.

  • Co reaffirms guidance for Q4, sees EPS of ($0.02) to $0.03 vs. ($0.02) Capital IQ Consensus Estimate; sees Q4 revs of $3.0 mln vs. $2.90 mln Capital IQ Consensus Estimate.

7:27 am Niska Gas Storage misses by $0.31, misses on revs (NKA) : Reports Q3 (Sep) loss of $0.78 per share, $0.31 worse than the Capital IQ Consensus Estimate of ($0.47); revenues fell 72% year/year to $10.59 mln vs the $33 mln consensus.

7:27 am MPLX LP misses by $0.02, reports revs in-line (MPLX) : Reports Q3 (Sep) earnings of $0.37 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.39; revenues rose 11.5% year/year to $138 mln vs the $137.03 mln consensus.

  • The increase in revenues and other income was primarily due to higher pipeline tariff rates and revenue recognized for volume deficiency credits.
  • Average pipeline tariff rates increased $0.05 per barrel compared to the third quarter of 2013.
  • These revenue increases substantially exceeded the impact of lower throughput in the third quarter of 2014 compared to the same period in 2013.

7:26 am Avon Products beats by $0.07, reports revs in-line (AVP) : Reports Q3 (Sep) earnings of $0.23 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $0.16; revenues fell 8.0% year/year to $2.14 bln vs the $2.15 bln consensus.

7:23 am Ceva beats by $0.02, beats on revs; Company initiates a new one million share buyback program (CEVA) : Reports Q3 (Sep) earnings of $0.12 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 41.0% year/year to $14.1 mln vs the $13.85 mln consensus.

  • "Our third quarter results were driven by the strongest licensing quarter in the company's history. We continue to experience a healthy demand for our products from new customers targeting a broad range of end markets."

7:23 am Iridium Communications beats by $0.03, beats on revs; Raises 2014 Outlook (IRDM) : Reports Q3 (Sep) earnings of $0.17 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 6.9% year/year to $107.49 mln vs the $98.33 mln consensus. 

  • The Company raised its full-year 2014 outlook for total service revenue growth and OEBITDA. The Company now expects: 
    • Total service revenue growth between 5 percent and 6 percent for the full-year 2014 (Prior +2-4%)
    • Full-year 2014 OEBITDA of approximately $215 million. OEBITDA for 2013 was $201.1 million. 
  • The Company affirmed its long-range outlook for compound annual service revenue growth, OEBITDA margin, cash taxes, peak net leverage and 2018 net leverage. The Company continues to expect: 
    • Compound annual service revenue growth between 8 percent and 12 percent between 2014 and 2018 
    • OEBITDA margin of approximately 60 percent in 2018 
    • Negligible cash taxes from 2014 to approximately 2020 
    • Peak net leverage of approximately 6.5x OEBITDA in 2015 
    • Net leverage of approximately 4x OEBITDA in 2018

7:22 am On The Wires (:WIRES) :

  • Vuzix (VUZI) announced that the logistics automation firm, PCData, has integrated Smartpick AR into its PCData's Distrib XE Module and branded it as Distrib AR for use in the baking industry.
  • Loxo Oncology (LOXO) will present pre-clinical data on the Company's pan-TRK inhibitor candidate, LOXO-101, in a poster session at the 26th EORTC-NCI-AACR Symposium on Molecular Targets and Cancer Therapeutics taking place in Barcelona, Spain on November 18-21, 2014.
  • Auspex Pharmaceuticals (ASPX) announced the enrollment of the first patient in a multi-center Phase 3 clinical trial of its investigational drug SD-809 (deutetrabenazine) for the treatment of people with tardive dyskinesia.
  • EnteroMedics (ETRM) announced that Brad Hancock will join the Company as Chief Commercial Officer effective November 17, 2014.
  • Aireon announced that the first flight payload for the system has been delivered by Harris Corporation (HRS) for integration into Iridium NEXT (IRDM) satellites. 
  • Steward Partners Global Advisory, affiliated with Raymond James Financial (RJF) Services member FINRA/SIPC, announced that veteran financial advisors, James Fowkes II and Ben Plata, known collectively as The Fowkes Group, have left the Wells Fargo (WFC) Profit Formula system, to join Steward Partners.
  • Mitek (MITK) announced that 3,026 financial institutions have signed agreements for its patented Mobile Deposit solution.
  • Can-Fite BioPharma (CANF) announced that the Company's CEO, Dr. Pnina Fishman and its Director of Business Development, Dr. Sari Fishman, will participate in approximately 40 scheduled one-on-one meetings with potential industry partners at BIO-Europe in Frankfurt, Germany on November 3 to 5, 2014. 
  • PBS KIDS and Whole Foods Market (WFM) announced a partnership today that will bring PBS KIDS' line of educational and earth-friendly toys exclusively to the supermarket's customers this holiday season.

7:22 am Fidelity Nat'l Info beats by $0.01, reports revs in-line; reaffirms FY14 guidance (FIS) : Reports Q3 (Sep) earnings of $0.80 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.79; revenues rose 7.0% year/year to $1.61 bln vs the $1.6 bln consensus.

  • Co reaffirms guidance for FY14, sees EPS of $3.06-3.12 vs. $3.10 Capital IQ Consensus Estimate reaffirms organic revs +4.5-65%

7:21 am AmerisourceBergen beats by $0.05, beats on revs; guides FY15 EPS in-line, FY15 above consensus (ABC) : Reports Q4 (Sep) earnings of $1.10 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.05; revenues rose 29.1% year/year to $31.59 bln vs the $30.82 bln consensus.

  • Co issues guidance for FY15, sees EPS of $4.36-4.50 vs. $4.38 Capital IQ Consensus Estimate; sees FY15 revs of +7-8% to ~$128.0-129.2 bln vs. $124.5 bln Capital IQ Consensus Estimate. 
  • Gross profit in the fiscal 2014 fourth quarter was $926.9 million, a 28.7 percent increase over the same period in the previous year, driven by strong overall revenue growth and generic sales in ABDC.
  • "Adjusted operating margin is expected to be flat to up slightly in the low single digit basis points range. We expect free cash flow to be in the range of $1.4 to $1.7 billion, with capital expenditures in the $300 million range for the full year"

7:21 am K12 beats by $0.04, beats on revs; guides Q2 revs in-line (LRN) : Reports Q1 (Sep) loss of $0.18 per share, $0.04 better than the Capital IQ Consensus Estimate of ($0.22); revenues rose 3.6% year/year to $236.7 mln vs the $230.78 mln consensus.

  • Enrollment flat YoY.
Co issues in-line guidance for Q2, sees Q2 revs of $225-235 mln vs. $228.13 mln Capital IQ Consensus Estimate. Operating income in the range of $14 million to $20 million.

7:21 am Thomson Reuters beats by $0.01, reports revs in-line (TRI) : Reports Q3 (Sep) earnings of $0.45 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 0.7% year/year to $3.11 bln vs the $3.1 bln consensus.

  • Reaffirms outlook: 
    • revenues to be comparable to 2013; 
    • adjusted EBITDA margin to range between 26% and 27%; 
    • underlying operating profit margin to range between 17.0% and 18.0%; 
    • and free cash flow to range between $1.3 billion and $1.5 billion in 2014.

7:21 am Abiomed misses by $0.04, beats on revs; raises lower end of FY15 guidance, above consensus (ABMD) : Reports Q2 (Sep) earnings of $0.09 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.13; revenues rose 17.2% year/year to $51.9 mln vs the $49.99 mln consensus.

  • Co raises lower end of FY15 guidance, sees FY15 revs of $209-212 mln vs. $207.84 mln Capital IQ Consensus Estimate, up from $205-212 mln.

7:20 am American Eagle Energy announces operations update and hosting Third Quarter 2014 earnings conference call; wells have been performing at or above the projected type curve for such wells (AMZG) : Co announces an operations update and production guidance for the co's operated well development in its Spyglass Project area in northwestern Divide County, North Dakota, and details for the third quarter 2014 earnings release and conference call. Since its last operations update on September 24, 2014, the co has continued to drill and complete successful wells in the central and western portion of its Spyglass operating area.

  • The co's first 4-well pad started production during September. 
  • The wells have been performing at or above the projected type curve for such wells, with production ranging from 380 BOEPD for the George 3-1 (Three Forks long lateral) well to 250 BOEPD for the Crestone State 3-1N (Three Forks short lateral) well.
  • The costs for each individual well located on the 4-well pad ranged from ~$5.5 mln to ~ $6.1 mln, with an average well cost of ~$5.8 mln. 
  • Recent well development costs, including the 4-well pad, have averaged ~ $6.1 mln. 
  • The co currently intends to focus most of its 2015 development on additional 2-well and 4-well pads which it expects will improve drilling efficiency, reduce development costs and improve return on capital.

7:20 am Radian Group beats by $0.34, beats on revs (RDN) : Reports Q3 (Sep) earnings of $0.67 per share, $0.34 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 26.4% year/year to $309.25 mln vs the $268.17 mln consensus.

  • The total number of primary delinquent loans decreased by 4 percent in the third quarter from the second quarter of 2014, and by 28 percent from the third quarter of 2013.
  • The primary mortgage insurance delinquency rate decreased to 5.4 percent in the third quarter of 2014, compared to 5.8 percent in the second quarter of 2014, and 7.8 percent in the third quarter of 2013. 

7:18 am LKQ misses by $0.01, beats on revs; guides FY14 EPS below consensus, reaffirms FY14 revs (LKQ) : Reports Q3 (Sep) earnings of $0.31 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.32; revenues rose 32.6% year/year to $1.72 bln vs the $1.67 bln consensus.

  • "We are particularly pleased to see the Company deliver organic revenue growth for parts and services of 8.9% and our North American segment report strong organic revenue growth of 6.7% for parts and services."
Co issues guidance for FY14, sees EPS of $1.32-1.36 from prior range of $1.32-1.40, excluding non-recurring items, vs. $1.38 Capital IQ Consensus Estimate; reaffirms revs guidance of +8-10% y/y; reaffirms CAPEX of $110-140 mln; reaffirms cash flow from operations of ~$375 mln. 

7:17 am Dice Holdings beats by $0.06, beats on revs; guides Q4 EPS above consensus, revs above consensus (DHX) : Reports Q3 (Sep) earnings of $0.18 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.12; revenues rose 28.5% year/year to $67.6 mln vs the $66.06 mln consensus.

  • Co issues upside guidance for Q4, sees EPS of $0.12 vs. $0.11 Capital IQ Consensus Estimate; sees Q4 revs of $67.7-68.2 mln vs. $67.00 mln Capital IQ Consensus Estimate.

7:17 am Cardinal Health beats by $0.04, beats on revs; reaffirms FY15 EPS guidance (CAH) : Reports Q1 (Sep) earnings of $1.00 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.96; revenues fell 1.8% year/year to $24.07 bln vs the $22.55 bln consensus. Co reaffirms guidance for FY15, sees EPS of $4.10-4.30, excluding non-recurring items, vs. $4.24 Capital IQ Consensus Estimate.

7:17 am Genesis Energy, L.P. misses by $0.04, misses on revs (GEL) : Reports Q3 (Sep) earnings of $0.33 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.37; revenues fell 11.6% year/year to $964.1 mln vs the $1.22 bln consensus.

7:15 am Incyte beats by $0.39, beats on revs (INCY) : Reports Q3 (Sep) earnings of $0.33 per share, $0.39 better than the Capital IQ Consensus Estimate of ($0.06); revenues rose 132.8% year/year to $198.14 mln vs the $151.3 mln consensus.

  • Product revenues of Jakafi were $97.8 mln as compared to $60.2 mln for the same period in 2013, representing 63 percent growth.
  • The Company now expects that 2014 net product revenues from Jakafi will be in the range of $350-360 mln, an increase from the previous range of $330-340 mln.

7:15 am AMAG Pharma beats by $0.12, reports revs in-line (AMAG) : Reports Q3 (Sep) earnings of $0.06 per share, $0.12 better than the Capital IQ Consensus Estimate of ($0.06); revenues rose 18.1% year/year to $25.5 mln vs the $25.64 mln consensus. The company reported record U.S. net Feraheme product sales of $22.5 million for the third quarter of 2014, compared to $19.3 million in the third quarter of 2013.

7:14 am QIWI: eBay (EBAY) to integrate Visa (V) QIWI wallet in Russia (QIWI) : Ebay (EBAY) announced that Visa (V) QIWI Wallet is now available as a payment option on eBay in Russia. Starting November 5th, all Russian eBay customers will be able to pay for their purchases with Visa QIWI Wallet. The new service, which becomes an additional payment option on eBay along with PayPal and credit cards, will allow eBay customers to make online purchases in a simple and secure manner.

7:14 am Alliant Tech beats by $0.06, reports revs in-line; reaffirms FY15 EPS guidance, guides FY15 revs in-line (ATK) : Reports Q2 (Sep) earnings of $3.00 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $2.94; revenues rose 11.5% year/year to $1.27 bln vs the $1.27 bln consensus.

  • Orders for the quarter were $0.9 billion, down from $1.5 billion in the prior-year quarter. The decrease was driven by lower orders in all of ATK's business groups, including the absence of significant orders in the Aerospace and Defense Groups in the prior year. The co maintains a backlog of $7 billion.
Co issues guidance for FY15, sees EPS of $11.50-1.90, excluding non-recurring items, vs. $11.75 Capital IQ Consensus Estimate; sees FY15 revs of $5.15-5.20 bln from $5.15-5.25 bln vs. $5.17 bln Capital IQ Consensus. 

7:14 am Natl Oilwell Varco beats by $0.07, beats on revs (NOV) : Reports Q3 (Sep) earnings of $1.61 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $1.54; revenues rose 17.3% year/year to $5.59 bln vs the $5.5 bln consensus.Ending backlog for the third quarter of 2014 was $14.34 billion for the Company's Rig Systems segment and $2.09 billion for the Company's Completion & Production Solutions segment.

7:14 am Consolidated Comms Illinois misses by $0.01, misses on revs (CNSL) : Reports Q3 (Sep) earnings of $0.22 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.23; revenues fell 1.1% year/year to $149.0 mln vs the $150.9 mln consensus.

7:13 am Pitney Bowes beats by $0.05, reports revs in-line; guides FY14 EPS in-line; reaffirms revenue growth range (PBI) : Reports Q3 (Sep) earnings of $0.51 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.46; revenues rose 2.3% year/year to $941.64 mln vs the $942.7 mln consensus.

  • Co issues in-line guidance for FY14, sees EPS of $1.85-1.92, excluding non-recurring items, vs. $1.86 Capital IQ Consensus Estimate.
  • Co reaffirms revenue, excluding the impacts of currency, to be in the range of +1-3% yr/yr. 

7:12 am GrafTech Intl misses by $0.06, reports revs in-line (GTI) : Reports Q3 (Sep) loss of $0.09 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus Estimate of ($0.03); revenues fell 14.1% year/year to $260.5 mln vs the $262.42 mln consensus. 

  • In summary, the Company's expectations for 2014 (excluding the impact of special charges) are as follows: 
    • Full year EBITDA target of $105 mln to $115 mln; Operating cash flow of approximately $95 mln to $110 mln.
    •  "We continue to face a challenging operating environment and, as previously stated, we have seen five to ten percent of graphite electrode shipments for the second half of 2014 being delayed into 2015, resulting in reduced graphite electrode production rates

7:12 am DST Systems beats by $0.21, beats on revs (DST) : Reports Q3 (Sep) earnings of $1.54 per share, $0.21 better than the Capital IQ Consensus Estimate of $1.33; revenues rose 6.3% year/year to $510.5 mln vs the $494 mln consensus.

7:10 am Johnson Controls beats by $0.03, misses on revs; guides Q1 EPS in-line (midpoint below) (JCI) : Reports Q4 (Sep) earnings of $1.04 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.01; revenues rose 2.6% year/year to $10.98 bln vs the $11.18 bln consensus.

Co issues in-line guidance for Q1, sees EPS of $0.74-0.77 vs. $0.77 Capital IQ Consensus Estimate. 

Johnson Controls will provide full fiscal year 2015 guidance at its annual New York analyst day on Dec. 2, 2014.

"We believe initiatives to improve the profitability of our businesses continue to gain momentum. Our 2014 results provide a foundation that we believe will position us to deliver record sales and earnings in 2015."

7:10 am Fortress Investment misses by $0.04, beats on revs (FIG) : Reports Q3 (Sep) earnings of $0.12 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.16; revenues rose 73.7% year/year to $403 mln vs the $226.53 mln consensus. As of September 30, 2014, AUM totaled $66.0 billion, up from $63.8 billion as of June 30, 2014. During the third quarter, Fortress recorded $2.2 billion of net client inflows for Logan Circle, had a $0.9 billion increase in invested capital, raised $0.7 billion of capital that was directly added to AUM and had $0.4 billion of market-driven valuation gains.

7:10 am Vantiv reports EPS in-line, revs in-line; guides Q4 below consensus (VNTV) : Reports Q3 (Sep) earnings of $0.49 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.49; revenues rose 29.3% year/year to $380.5 mln vs the $380.78 mln consensus.

  • Vantiv continues to generate superior profitability as reflected by its third quarter adjusted EBITDA margin of 48%, including impacts from the acquisition of key strategic assets. Adjusted EBITDA increased 21% to $181.5 million in the third quarter from $149.5 million in the prior year period.
Co issues downside guidance for Q4, sees EPS of $0.50-$0.53, excluding non-recurring items, vs. $0.54 Capital IQ Consensus Estimate; sees Q4 revs of $394-400 mln vs. $402.52 mln Capital IQ Consensus Estimate.

7:09 am Sears Hldg announces filing of prospectus supplement for rights offering of units consisting of senior unsecured notes and warrants (SHLD) : Under the terms of the rights offering, the Company is planning to distribute to its stockholders, at no charge, one transferable subscription right for every 85.1872 shares of the Company's common stock held of record as of 5:00 p.m., New York City time, on October 30, 2014, the previously announced record date.  Each subscription right entitles the holder thereof to purchase, at a subscription price of $500, one unit, consisting of (a) a 8% senior unsecured note due 2019 in the principal amount of $500 and (b) 17.5994 warrants, with each warrant entitling the holder thereof to purchase one share of the Company's common stock.  The warrants will be exercisable upon issuance at an exercise price of $28.41, the closing market price on October 17, 2014, the last trading day before the Company's board of directors approved the offering. The subscription rights have been approved for listing on the NASDAQ Global Select Market under the symbol "SHLDZ", and are expected to begin trading on that market on October 31, 2014.

7:09 am Harman beats by $0.20, beats on revs, names new CFO (HAR) : Reports Q1 (Sep) earnings of $1.31 per share, excluding non-recurring items, $0.20 better than the Capital IQ Consensus Estimate of $1.11; revenues rose 21.9% year/year to $1.43 bln vs the $1.35 bln consensus.

  • "We continue to see rising take rates for an embedded connected car experience. The fundamentals of our business are intact and despite fluctuations in foreign currency rates, we are confident in our full year guidance...Looking further out, demand from automakers for innovative embedded infotainment and car audio solutions remains robust as evidenced by over $2 billion of new automotive awards that we secured in the first quarter of this fiscal year. These proof points give us the confidence to put in place a three year $500 million share buy-back program."
  • Also, co announces it has named Sandra E. Rowland, currently the co's VP, Corporate Development and Investor Relations, as Executive VP and CFO, effective January 1, 2015. Rowland succeeds Herbert Parker, who has been named to the newly-created role of Executive VP, Operational Excellence, responsible for IT, Internal Audit, Mergers & Acquisitions and special projects.

7:09 am Euro Slides Below 1.2600: 10Y: +03/32..2.305%..USD/JPY: 109.01..EUR/USD: 1.2587 (:SUMRX) :

  • The Dollar Index has reclaimed the 86.00 level and is nearing a retest of the October highs near 86.90.
  • Early strength ran action above the 86.40 level before pulling back into the 86.20 region. 
  • EURUSD is -45 pips @ 1.2590 following some mixed data from the region. Spanish Flash CPI (-0.1% YoY actual v. 0.0% YoY expected) missed estimates while Spanish Flash GDP (0.5% QoQ) was in-line and German unemployment change (-22K actual v. 4K expected) posted a beat. The early weakness has dropped the single currency below 1.2600 support, putting the early-October lows near 1.2500 in the crosshairs. Click here to see a daily EURUSD chart.
  • GBPUSD is -20 pips @ 1.5990 as trade dips to a two-week low despite the Nationwide Home Price Index (0.5% MoM actual v. 0.4% MoM expected) beat. A breakdown of the 1.5900 area drops sterling to levels last seen in September 2013. 
  • USDCHF is +30 pips @ .9575 as action contends with its best close in more than three weeks. The pair has seen little response to the better than expected KOF Economic Barometer (99.8 actual v. 99.2 expected) as action has been in tight correlation with the euro. 
  • USDJPY is +15 pips @ 109.00 as trade presses to a three-week high. The recent highs near 110.00 mark the best level in more than six years. 
  • AUDUSD is -5 pips @ .8785 after the unexpected drop in import prices (-0.8% QoQ actual v. 0.3% QoQ expected). Yesterday's false breakout was a devastating blow to the bulls as trade probed the .8900 area before sliding back into the .8650/.8850 range that has been in place the past month. USDCNY ticked up to 6.1156. 
  • USDCAD is +10 pips @ 1.1195 amid a mostly uneventful trade. The small bid comes following yesterday's late-day comments by Bank of Canada Governor Stephen Poloz hinting the big drop in oil prices could weigh on growth.

7:08 am Marathon Petroleum beats by $0.09, beats on revs (MPC) : Reports Q3 (Sep) earnings of $2.36 per share, $0.09 better than the Capital IQ Consensus Estimate of $2.27; revenues fell 3.0% year/year to $25.48 bln vs the $24.52 bln consensus. 

  • "Turning to midstream operations, Heminger said MPC plans to substantially accelerate the growth of MPLX (MPLX), the master limited partnership sponsored by MPC. MPLX is expected to provide unitholders an average annual distribution growth rate percentage in the mid-20s over the next five years. By the end of 2015, MPLX expects to triple its annualized run-rate earnings before interest, taxes, depreciation and amortization versus third-quarter 2014 annualized run-rate EBITDA. Heminger said this increased scale better positions MPLX to grow through organic projects, continued drop-downs and potential third-party acquisitions. In support of this plan, the MPC board of directors has authorized the sale of MPC's remaining 31 percent interest in MPLX Pipe Line Holdings LP to MPLX."

7:08 am HHGregg misses by $0.38, misses on revs; Comparable store sales -11.4% (HGG) : Reports Q2 (Sep) loss of $0.37 per share, $0.38 worse than the Capital IQ Consensus Estimate of $0.01; revenues fell 11.0% year/year to $505.9 mln vs the $530.77 mln consensus. Comparable store sales -11.4%

  • The decrease in net income for the three month period ended September 30, 2014 was largely due to a comparable store sales decrease of 11.4%. The decrease in net income for the six month period ended September 30, 2014 was largely due to a comparable store sales decrease of 10.9%. 
  • For fiscal 2015, co continues to expect our annual comparable store sales will be negative high single digits to negative mid single digits. 
  • Expects the second half of the fiscal year to outperform the first half of the fiscal year. 
  • Co continue to expect to generate positive EBITDA for the fiscal year. 
  • Now expect to open 1 new store during fiscal 2015 compared to previous expectation of 2 new stores during fiscal 2015. The second store's opening is now expected in early fiscal 2016.  

7:08 am Harman appoints Sandra Rowland as Chief Financial Officer, effective January 1, 2015 (HAR) :

  • Prior to HARMAN, Rowland served in positions of increasing responsibility at Eastman Kodak Company (KODK), including Controller of the Consumer Segment, Director of Corporate Financial Planning and Analysis, Assistant Treasurer, Director of Investor Relations, and Chief Financial Officer of the Commercial Segment. 

7:08 am Seventy Seven Energy misses by $0.09, reports revs in-line (SSE) : Reports Q3 (Sep) earnings of $0.18 per share, excluding items, $0.09 worse than the Capital IQ Consensus Estimate of $0.27; revenues rose 5.8% year/year to $526.8 mln vs the $527.16 mln consensus. "Both total revenue and EBITDA continue to trend upward as does our percent of non-Chesapeake revenue. With a substantial backlog of work contracted through 2015, we are well positioned in many of the most active oil and natural gas plays in the U.S. to maximize returns for our shareholders."

7:07 am Mosaic misses by $0.05, misses on revs (MOS) : Reports Q3 (Sep) earnings of $0.54 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.59; revenues rose 17.9% year/year to $2.25 bln vs the $2.31 bln consensus.

Highlights:

  • Phosphate results- Average DAP Selling Price $461, 3Q14 guidance- $440 to $470; actual sales volume 3.3 mln tonnes, 3Q14 guidance-  3.3 to 3.6 mln tonnes
  • Potash results- Average MOP Selling Price $291, 3Q14 guidance- $275 to $295, actual sales volume 1.8 mln tonnes, 3Q14 guidance 1.8 to 2.0 mln tonnes.

Guidance:
  • Total sales volumes for the Phosphates segment are expected to range from 2.5 to 2.8 mln tonnes for Q4 r of 2014, compared to 3.4 mln tonnes last year. Mosaic's realized DAP price, FOB plant, for Q4  is estimated to range from $430 to $450 per tonne.
  • Total sales volumes for the Potash segment are expected to range from 2.0 to 2.3 mln tonnes for Q4 of 2014, compared to 1.9 mln tonnes last year. Mosaic's realized MOP price, FOB plant, for Q4, is estimated to range from $275 to $295 per tonne.

7:07 am S&P futures vs fair value: -12.00. Nasdaq futures vs fair value: -27.00. :

7:07 am European Markets : FTSE...6,380.16...-73.90...-1.10%.  DAX...8,936.70...-163.80...-1.80%.

7:07 am Asian Markets : Nikkei...15,658.20...+104.30...+0.70%.  Hang Seng...23,702.04...-117.80...-0.50%.

7:07 am Teva Pharma beats by $0.08, reports revs in-line; narrows FY14 EPS above consensus, revs below consensus; increases buyback to $3 bln (TEVA) : Reports Q3 (Sep) earnings of $1.32 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of $1.24; revenues were unchanged from the year-ago period at $5.06 bln.

Co issues mixed guidance for FY14, sees EPS of $5.00-5.10, excluding non-recurring items, from $4.80-5.10 vs. $4.97 Capital IQ Consensus; sees FY14 revs of $20.0-20.3 bln from $20.0-20.3 bln vs. $20.47 bln Capital IQ Consensus Estimate. 

Company increases its share repurchase program to $3 billion, with purchases to commence promptly; represents an increase of $1.7 billion to the existing program.

7:06 am NeoGenomics beats by $0.02, beats on revs; guides Q4 EPS in-line, revs in-line (NEO) : Reports Q3 (Sep) earnings of $0.01 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of ($0.01); revenues rose 37.5% year/year to $23.21 mln vs the $21.98 mln consensus.

  • Co issues in-line guidance for Q4, sees EPS of $0.00-0.01 vs. $0.01 Capital IQ Consensus Estimate; sees Q4 revs of $23-24.5 mln vs. $22.91 mln Capital IQ Consensus Estimate.

7:06 am LoJack names Kenneth Dumas as new CFO effective November 10, 2014 (LOJN) : Casey Delaney, who became Acting CFO in May 2014, will remain LoJack's Vice President and Controller. Prior to joining LoJack, Dumas, served as CFO and Treasurer at Chase Corporation (CCF), a multinational manufacturing company producing specialty tapes, coatings and laminates for high reliability applications.

7:06 am Old Dominion beats by $0.03, beats on revs (ODFL) : Reports Q3 (Sep) earnings of $0.90 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.87; revenues rose 20.6% year/year to $743.6 mln vs the $732.24 mln consensus. Co expects capital expenditures for 2014 to be approximately $385 million, including planned expenditures of $132 million for real estate and expansion projects at existing facilities, $206 million for tractors, trailers and other equipment and $47 million for technology and other assets.

7:05 am KCG Holdings misses by $0.14, misses on revs; KCG has begun to explore strategic options for KCG Hotspot (KCG) : Reports Q3 (Sep) loss of $0.09 per share, $0.14 worse than the Capital IQ Consensus Estimate of $0.05; revenues fell 42.0% year/year to $272.3 mln vs the $283.35 mln consensus. 

  • The Market Making segment encompasses direct-to-client and non-client, exchange-based market making across multiple asset classes and is an active participant in all major cash, options and futures markets in the U.S., Europe and Asia. During the third quarter of 2014, the segment generated total revenues of $166.6 million and a pre-tax loss of $8.0 million, which included a debt interest charge of $6.1 million. 
  • The Global Execution Services segment comprises agency execution services and trading venues. During the third quarter of 2014, the segment generated total revenues of $79.2 million and a pre-tax loss of $1.7 million, which included a debt interest charge of $1.6 million.
  • As KCG continues to evaluate how best to realize untapped value throughout the company, KCG has begun to explore strategic options for KCG Hotspot, with the goal of executing on opportunities if it creates additional value for our stockholders, clients and employees. KCG has not made a decision to enter into any transaction at this time, and there can be no assurance that KCG will enter into such a transaction in the future.

7:05 am Symmetry Medical misses by $0.02, misses on revs (SMA) : Reports Q3 (Sep) earnings of $0.13 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.15; revenues rose 0.2% year/year to $95.9 mln vs the $98.24 mln consensus.

7:05 am ConocoPhillips beats by $0.10 (COP) : Reports Q3 (Sep) adj earnings of $1.29 per share, $0.10 better than the Capital IQ Consensus Estimate of $1.19. 

  • Third-quarter production of 1,473 MBOED from continuing operations, excluding Libya, represents four percent growth year-over-year when adjusted for downtime. Outlook:
  • "The company is on track to meet its previously stated growth target of 3 to 5 percent volume and margin growth in 2014. Full-year 2014 production from continuing operations, excluding Libya, is expected to be approximately 1,525 to 1,535 MBOED. Fourth-quarter 2014 production guidance for continuing operations, excluding Libya, is being adjusted to reflect anticipated impacts from the absence of ramp gas sales from APLNG to a third-party LNG project, temporary third-party infrastructure constraints in Malaysia and value-driven ethane rejection in the Lower 48. Fourth-quarter production guidance is 1,545 to 1,575 MBOED. 
  • ConocoPhillips expects to release guidance on its 2015 capital expenditures in December. In addition, the company plans to host an Analyst Meeting in New York on April 8, 2015, with additional details to be provided in early 2015.

7:05 am H&E Equipment Srvs misses by $0.03, misses on revs (HEES) : Reports Q3 (Sep) earnings of $0.43 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.46; revenues rose 1.7% year/year to $275 mln vs the $293.67 mln consensus. "Our outlook for the remainder of this year and into 2015 remains positive as we believe our company will continue to benefit from the anticipated growth in the commercial construction markets in the United States. The significant capital projects forecasted for our Gulf Coast region related to major chemical, energy and manufacturing are reported to be on track. We anticipate further fleet investment during the fourth quarter based on the current demand in our markets as well as in anticipation of these projects. Our company remains focused on executing our strategy and profitable growth."

7:04 am Steven Madden beats by $0.01, misses on revs; guides FY14 EPS in-line (SHOO) : Reports Q3 (Sep) earnings of $0.62 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.61; revenues fell 0.7% year/year to $392 mln vs the $403.9 mln consensus.

  • Co issues in-line guidance for FY14, sees EPS of $1.81-1.86 vs. $1.84 Capital IQ Consensus Estimate. As previously announced, factoring in the recent acquisition of Dolce Vita and current expectations for the remainder of the year, for fiscal year 2014, the Company expects that net sales will increase 1% to 2% over net sales in 2013.

7:04 am Diebold beats by $0.05, beats on revs; guides FY14 EPS in-line, revs slightly above consensus (DBD) : Reports Q3 (Sep) earnings of $0.54 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.49; revenues rose 8.9% year/year to $768.03 mln vs the $735.99 mln consensus.

  • Co issues guidance for FY14, sees EPS of $1.70-1.80 vs. $1.78 Capital IQ Consensus Estimate, prior range $1.65-1.85; sees FY14 revs +7% yr/yr or roughly $3.06 bln vs. $3 bln Capital IQ Consensus Estimate.

7:04 am Altria beats by $0.01, reports revs in-line; reaffirms FY14 EPS guidance (MO) : Reports Q3 (Sep) earnings of $0.69 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.68; revenues fell 0.1% year/year to $4.75 bln vs the $4.74 bln consensus.

Co reaffirms guidance for FY14, sees EPS of $2.54-2.59, excluding non-recurring items, vs. $2.57 Capital IQ Consensus Estimate. Altria expects stronger adjusted diluted EPS growth in the fourth quarter as compared to the first three quarters in 2014, driven by several factors, including a significantly lower fourth-quarter effective tax rate on operations compared to the fourth quarter of 2013 resulting from Altria's 2013 debt tender offer, and lower fourth-quarter costs in the smokeable products segment due to the end of the federal tobacco quota buy-out payments.

7:03 am AstraZeneca announced that the FDA has approved once-daily XIGDUO XR for the treatment of adults with type 2 diabetes (AZN) : XIGDUO XR is the first and only once-daily combination tablet of an SGLT2 inhibitor and metformin HCl extended-release to be approved in the United States. XIGDUO XR is indicated as an adjunct therapy to diet and exercise to improve glycemic control in adults with type 2 diabetes mellitus when treatment with both dapagliflozin and metformin is appropriate.

7:02 am Huntington Ingalls increases quarterly dividend 100% to $0.40 from $0.20/share; authorizes a $300 mln increase in its share repurchase program to $600 mln (HII) : The increase in the company's share repurchase program extended the term of the program from Oct. 31, 2017, to Oct. 31, 2019.

7:02 am CME Group beats by $0.01, reports revs in-line (CME) : Reports Q3 (Sep) earnings of $0.84 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.83; revenues rose 6.6% year/year to $762 mln vs the $766.62 mln consensus. 

  • CME Group full-year 2014 adjusted operating expenses are expected to be approximately $1.3 billion, at the low-end of the previously stated range. 
  • Based upon the impact related to the recent reorganization and other expense management initiatives, the company's current estimate of 2015 operating expenses is the same as 2014, at approximately $1.3 billion. The estimate excludes the impact of the pending transaction with GFI Group.

7:01 am L-3 Communications beats by $0.01, misses on revs; guides FY14 below consensus; guides FY15 below consensus (LLL) : Reports Q3 (Sep) earnings of $1.85 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.84; revenues fell 2.1% year/year to $2.94 bln vs the $2.99 bln consensus.

  • Increases planned share repurchases for 2014 by $125 million to $825 million
  • Funded orders of $2.4 billion, funded backlog of $10.1 billion
Co issues downside guidance for FY14, sees EPS of $7.30-7.50 from prior range of $7.90-8.10 vs. $7.80 Capital IQ Consensus Estimate; sees FY14 revs of $12.025-12.125 bln from prior range of $12.025-12.225 bln vs. $12.13 bln Capital IQ Consensus Estimate.

Co issues downside guidance for FY15, sees EPS of $7.50 vs. $8.56 Capital IQ Consensus Estimate; sees FY15 revs of $11.8 bln vs. $11.92 bln Capital IQ Consensus Estimate.

7:01 am Harman authorizes $500 mln, three year share buyback program (HAR) : The buyback program allows the company to purchase shares of common stock in accordance with applicable securities laws on the open market or through privately negotiated transactions from time-to-time during the authorized 36 month period.

7:01 am Transgenomic and University of Melbourne collaborate to further validate ability of multiplexed ICE COLD-PCRTM to enable personalized cancer treatment (TBIO) : The new study will be conducted using DNA isolated from pre-treatment tumor biopsies from patients enrolled in clinical trials. It aims to determine the prevalence and clinical significance of ultra-low frequency mutations that would otherwise go undetected by NGS or Sanger sequencing-based methodologies. In the next phase of the project, Transgenomic expects to conduct further studies with University of Melbourne researchers to validate the use of MX-ICP to accurately detect tumor mutations using blood or plasma.

7:00 am Commodities beginning the morning off mostly lower; energy lower, gold and silver in the red (:COMDX) : In current price action:

  • WTI crude -1.1% at $81.34/barrel
  • Brent crude oil -0.6% at $86.31/barrel
  • Natural gas unchanged at $3.73/MMBtu
  • Heating oil -0.9% at $2.50/gallon
  • RBOB gasoline -0.6% at $2.17/gallon
  • Gold -1.6% at $1205.30/oz
  • Silver -2.5% at $16.84/oz

6:59 am Emerge Energy Services beats by $0.20, reports revs in-line (EMES) : Reports Q3 (Sep) earnings of $1.08 per share, $0.20 better than the Capital IQ Consensus Estimate of $0.88; revenues rose 9.7% year/year to $296.33 mln vs the $295.46 mln consensus.

6:56 am Astronics awarded multiyear contract for support of United Kingdom Bowman tactical communications system (ATRO) : The co announced that its Test Systems segment, through Astronics' wholly-owned subsidiary DME Corporation, was awarded two five-year contracts by General Dynamics (GD) United Kingdom Limited to support the U. K. Ministry of Defense Bowman tactical communications system test equipment modernization, logistics, supply and support. Astronics will provide full logistical support for Bowman Radio Test solutions, including necessary repair and calibration, spares provisioning, obsolescence management and logistics support analysis required to maintain the 80 systems currently fielded.

6:55 am Auxilium Pharma beats by $0.12, beats on revs (AUXL) : Reports Q3 (Sep) earnings of $0.27 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus Estimate of $0.15; revenues rose 1.4% year/year to $109.6 mln vs the $101.02 mln consensus.

6:53 am Allegion beats by $0.04, beats on revs; guides FY14 EPS in-line (ALLE) : Reports Q3 (Sep) earnings of $0.68 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 3.3% year/year to $546.7 mln vs the $534.74 mln consensus.

  • Co issues in-line guidance for FY14, sees EPS of $2.37-2.42, excluding non-recurring items, vs. $2.37 Capital IQ Consensus Estimate, prior guidance $2.30-2.40.

6:51 am Progessive Waste beats by $0.07, misses on revs; guides FY14 EPS above consensus, reaffirms FY14 revs guidance (BIN) : Reports Q3 (Sep) earnings of $0.36 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $0.29; revenues rose 0.1% year/year to $521.2 mln vs the $575.25 mln consensus.

  • Consolidated organic revenue growth increased 2.2%, driven by higher pricing and positive volume 
  • Adjusted EBITDA was $139.8 million in the third quarter of 2014 versus $134.9 million posted in the same quarter a year ago. 
Co issues mixed guidance for FY14, sees raises EPS to $1.31-1.32 from prior range of $1.06-1.15, excluding non-recurring items, vs. $1.17 Capital IQ Consensus Estimate; reaffirms FY14 revs of $1.99-2.01 bln vs. $2.22 bln Capital IQ Consensus Estimate; reaffirms adjusted EBITDA of $528-538 mln.

6:50 am On The Wires (:WIRES) :

  • CytRx (CYTR) announced an upcoming presentation highlighting its novel technology and its lead drug candidate, aldoxorubicin. 
  • Tencent Holdings Limited (TCEHY) launched QQ Connect, a platform that enables hardware developers and partners from various sectors to connect with the large number of QQ users.

6:45 am BT Group plc beats on top and bottom lines (BT) : Reports Q2 (Sep) EPS of GBP0.07 vs GBP0.06 CIQ est; revs declined 2% YoY to GBP4.38 bln vs GBP4.37 bln CIQ est.

  • Co's key measure of the group's revenue trend, underlying revenue excluding transit, increased 0.2% in the second quarter. 
  • A 7% revenue increase in BT Consumer, primarily driven by growth in broadband and TV revenue, was offset by reductions elsewhere, mainly in BT Wholesale and Openreach. 
  • Order intake on a rolling twelve-month basis was down 14% in BT Global Services and 30% in BT Wholesale, reflecting some large contract wins and renewals a year earlier, whilst BT Business order intake was up 5%. 
Outlook 
  • Co's outlook is unchanged. We continue to expect underlying revenue excluding transit in 2014/15 to be broadly level with 2013/14 with growth in 2015/16. 
  • Co expects adjusted EBITDA of 6.2bn - 6.3bn in 2014/15 with further growth in 2015/16. Normalised free cash flow is expected to be above 2.6bn in 2014/15 and to grow in 2015/16. 

6:43 am PBF Energy beats by $0.57, beats on revs (PBF) : Reports Q3 (Sep) earnings of $1.60 per share, $0.57 better than the Capital IQ Consensus Estimate of $1.03; revenues rose 8.3% year/year to $5.26 bln vs the $4.65 bln consensus. Throughput for the quarter averaged approximately 495,500 barrels per day, which was in-line with total guidance for the quarter.

6:43 am PBF Logistics misses by $0.01, reports revs in-line (PBFX) : Reports Q3 (Sep) earnings of $0.31 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.32.

  • Adjusted EBITDA of $10.5 mln and distributable cash flow of $10.2 mln. 
  • The Board of Directors of PBF Logistics GP LLC, the Partnership's general partner, declared a regular quarterly cash distribution of $0.30 per unit. The distribution is payable on November 28, 2014 to unitholders of record at the close of business on November 14, 2014.

6:42 am Coca-Cola Amatil announces agreement with Coca-Cola (KO) to accelerate growth in Indonesia; KO to invest $500 mln into CCLAY's Indonesia subsidiary for a 29.4% stake (CCLAY) : The co announced the execution of a Heads of Agreement with The Coca-Cola Company (KO) to accelerate CCA Indonesia's growth strategy. Under the terms of the agreement, The Coca-Cola Company will invest $500 million into CCAI, a subsidiary of CCA, in return for an ordinary equity ownership interest of 29.4%. The investment will support the accelerated expansion of CCAI's production, warehousing and cold drink infrastructure to ensure long-term growth and success in this key market. This investment will enable the business to broaden its product offering, develop new consumption occasions and offer a greater range of affordable packages. CCAI will also transform its route-to-market model to increase availability to the traditional trade and broaden its customer base.

6:42 am NiSource misses by $0.02, reports revs in-line; reaffirms FY14 EPS guidance (NI) : Reports Q3 (Sep) earnings of $0.14 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.16; revenues rose 5.0% year/year to $1.14 bln vs the $1.14 bln consensus. Co reaffirms guidance for FY14, sees EPS at the upper half of $1.61-1.71 vs. $1.71 Capital IQ Consensus Estimate.

6:39 am CVR Refining adds $100 mln to credit facility (CVRR) : CVR Refining, LLC, as the borrower, and Coffeyville Resources, LLC, as the lender, are parties to a $150 million senior unsecured revolving credit facility dated January 23, 2013. On October 29, 2014 CRLLC and Refining LLC entered into a First Amendment to Credit Agreement, pursuant to which the parties amended the Intercompany Credit Facility to increase the size of the facility to $250 million

6:38 am Vical misses by $0.01, beats on revs (VICL) : Reports Q3 (Sep) loss of $0.05 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.04); revenues rose 126.7% year/year to $3.4 mln vs the $3 mln consensus.

6:37 am Strayer Education beats by $0.19, beats on revs; total enrollment -2% YoY; new student enrollment +5% (STRA) : Reports Q3 (Sep) earnings of $0.37 per share, excluding items, $0.19 better than the Capital IQ Consensus Estimate of $0.18; revenues fell 8.4% year/year to $100.8 mln vs the $99.38 mln consensus. 

  • EPS excludes $0.09 per share in after-tax earnings related to the reduction of the Company's liability for losses on facilities no longer in use
  • Total enrollments at Strayer University for the 2014 fall term decreased 2% to 42,189 students compared to 43,192 students for the same term in 2013. 
    • Across the Strayer University campus and online system, new student enrollments increased 5%, while continuing student enrollments decreased 4%.

6:37 am Aviva provides select Q3 financial results; net asset value +10% YoY (AV) : Reports Q3 key metrics for its business. Year to date, net asset value is 10% higher; value of new business is up 15% and the general insurance combined ratio improved to 95.9%. 
Cash flow 

  • Progress in cash remittances expected at FY14 
  • Operating capital generation 1.3 billion (9M13: 1.3 billion) 
Combined operating ratio 
  • Combined operating ratio (COR) of 95.9% (9M13: 96.9%) 
  • UK COR improved by 1.4 percentage points to 94.1% (9M13: 95.5%) 
  • Canada COR of 96.8% (9M13: 95.2%) impacted by worse weather and fire losses 

6:37 am Ingredion misses by $0.01, misses on revs; guides FY14 EPS below consensus (INGR) : Reports Q3 (Sep) earnings of $1.60 per share, $0.01 worse than the Capital IQ Consensus Estimate of $1.61; revenues fell 9.4% year/year to $1.46 bln vs the $1.51 bln consensus.

  • Co issues guidance for FY14, lowers EPS to $5.35-5.50 from $5.40-5.70 vs. $5.53 Capital IQ Consensus Estimate. 
  • "The guidance anticipates North America operating income will be down for the full year. Our momentum has been good in the second and third quarters in North America, but we do not expect to compensate for the slow start to the year. In line with previous guidance, we expect continued cost pressures in Argentina and softness in the Brazilian economy to result in South America being down slightly for the year. Also in line with previous guidance, operating income in Asia Pacific and EMEA is expected to be up. The guidance also reflects slightly lower anticipated financing costs compared to last year and an estimated effective tax rate of 27 - 28 percent."

6:36 am LPL Financial reports EPS in-line, revs in-line (LPLA) : Reports Q3 (Sep) earnings of $0.48 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.48; revenues rose 3.4% year/year to $1.09 bln vs the $1.09 bln consensus. 

  • Assets under custody on LPL Financial's Independent RIA platform, which provides advisory fee- and commission-based capabilities for independent registered investment advisors ("Independent RIAs"), grew 52.6% to $83.8 billion as of September 30, 2014, representing 303 Independent RIA firms, compared to $54.9 billion and 228 Independent RIA firms as of September 30, 2013.
  • Net new advisory assets, which exclude market movement, were $4.8 billion for the three months ended September 30, 2014, primarily driven by strong advisor productivity and the continued addition of Independent RIAs.

6:36 am Bunge misses by $0.59, misses on revs (BG) : Reports Q3 (Sep) earnings of $1.31 per share, excluding non-recurring items, $0.59 worse than the Capital IQ Consensus Estimate of $1.90; revenues fell 7.0% year/year to $13.68 bln vs the $15.31 bln consensus.

  • Total adjusted EBIT of $316 mln, down $72 mln vs. last year
  • Agribusiness negatively affected by slow farmer selling and ~$80 million mark-to-market hedging impact, which is largely expected to reverse upon execution in Q4
Outlook
  • "We expect to have a strong fourth quarter. In Agribusiness, record U.S. harvests in combination with extremely slow farmer selling in South America and strong demand from the livestock sector have driven U.S. crush margins to historically strong levels. Along with large softseed and grain crops in Europe, this will allow our crushing and exporting facilities in the Northern Hemisphere to operate at high run rates with good margins. We also expect about $60 million in mark-to-market reversals in the fourth quarter and additional reversals in the first quarter of 2015.
  • "In Food & Ingredients we expect another record year. The fourth quarter is the seasonally strong holiday period when demand for flours, vegetable oils, margarines and shortenings increases. We will also have additional contributions from our performance improvement initiatives and our new wheat mills in Mexico. 
  • "In Sugar & Bioenergy, we expect breakeven full-year segment EBIT and are managing the business to be free cash flow neutral. We have sufficient cane to crush approximately 20 mmt; however, at the end of September we were about 75% through the harvest, so weather remains an important factor in the length of the processing season.
  • "We expect our Q4 and 2014 full year tax rate to be approximately 23%, which is in line with our long-term range of 22-24%."

6:34 am Greenbrier reports EPS in-line, misses on revs; guides FY15 EPS above consensus, revs in-line (GBX) : Reports Q4 (Aug) earnings of $1.03 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $1.03; revenues rose 28% year/year to $618.1 mln vs the $626.37 mln consensus.

  • Orders for 10,400 new railcars valued at $1.06 billion received during the quarter. After quarter end, Greenbrier received orders for an additional 11,400 units valued at nearly $1 billion. New railcar deliveries totaled 4,800 units for the quarter, compared to 4,300 units for the quarter ended May 31, 2014.
Co issues guidance for FY15, sees EPS of $4.25-4.55 vs. $4.15 Capital IQ Consensus; sees FY15 revs of exceed $2.5 bln vs. $2.54 bln Capital IQ Consensus. 
  • Similar to previous years, financial results in the second half of the year are expected to be stronger than the first half. Also, while gross margins are expected to increase overall, management does not believe its track will be linear. 
  • In addition, the co has established two new financial goals
    • Aggregate gross margin of at least 20% by the second half of fiscal 2016 
    • ROIC of at least 25% by the second half of fiscal 2016. 
  • "With a strong backlog, good industry fundamentals and positive outlook, we are investing in capital projects with high returns where we will quickly recoup our investments. We are also pursuing growth opportunities in areas core to our business that will diversify our revenue base throughout the cycle. 

6:34 am Pacira Pharma beats by $0.18, reports revs in-line (PCRX) : Reports Q3 (Sep) earnings of $0.14 per share, $0.18 better than the Capital IQ Consensus Estimate of ($0.04); revenues rose 123.2% year/year to $52 mln vs the $51.86 mln consensus. 

  • EXPAREL Commercialization: EXPAREL net product sales were $50.2 million in the third quarter of 2014, compared to $20.0 million in the third quarter of 2013 and up 12% from $44.9 million in Q214. 
  • "The third quarter marked another period of consistent growth for EXPAREL across a broad array of surgical procedures... Over the next couple of quarters, we expect several important data sets will be presented which demonstrate the value of postsurgical pain control with reduced opioids to improve patient care. As we prepare for a potential nerve block indication, we are excited by the prospect of new EXPAREL opportunities to replace catheter-based pain management strategies and to provide another option for improved patient care."

6:33 am Jiayuan.com announces appointment of Independent Director (DATE) : Co announced that its Board of Directors has approved the appointment of Mr. Gaofei Wang as an independent director, effective October 30, 2014. Mr. Wang will replace Mr. Jianzhang Liang, an independent director, on the Audit Committee of the Board. Mr. Liang will maintain his position as an independent director and member of the Compensation Committee of the Board.

  • Mr. Wang has served as Weibo's (WB) Chief Executive Officer since February 2014 and as Senior Vice President at SINA (SINA) since May 2013.

6:33 am Catamaran beats by $0.02, beats on revs; raises FY14 guidance (CTRX) : Reports Q3 (Sep) earnings of $0.58 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.56; revenues rose 53.3% year/year to $5.54 bln vs the $5.35 bln consensus.

  • Co issues in-line guidance for FY14, raises EPS to $2.20-2.25 from $2.12-2.22 vs. $2.21 Capital IQ Consensus Estimate; raises FY14 revs to $21.1-21.5 bln from $20.5-21.0 bln vs. $21.11 bln Capital IQ Consensus Estimate. 
  • Q3 2014 EBITDA increased $38.2 million, or 23%, to $205.7 million, compared to $167.6 million in Q3 2013.

6:31 am MAXIMUS announced that its wholly owned United Kingdom subsidiary has been awarded a new contract to provide health-related assessment services for the United Kingdom's Department for Work and Pensions (MMS) : The Company will begin work immediately with a four-month transition and mobilization period, followed by 36 months of operations that are expected to launch on March 1, 2015 and run through February 28, 2018. In addition, the DWP has the option to extend the contract for two additional years.

6:31 am Host Hotels beats by $0.03, beats on revs; guides FY14 FFO above consensus (HST) : Reports Q3 (Sep) funds from operations of $0.34 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 6.9% year/year to $1.29 bln vs the $1.28 bln consensus. Comparable RevPAR on a constant dollar basis improved nearly 8% for the quarter, driven primarily by strong rate growth of 6.4%, coupled with a 1.1 percentage point increase in occupancy, which reached 79.9% at the Company's comparable hotels.  

  • Co issues upside guidance for FY14, sees FFO of $1.47-1.49 vs. $1.46 Capital IQ Consensus Estimate.

6:30 am Alcatel-Lucent misses by EUR0.02, misses on revs (ALU) : Reports Q3 (Sep) EPS of 0.00, 0.02 worse than the Capital IQ Consensus of 0.02; revenues fell 11.3% year/year to 3.25 bln vs the 3.33 bln consensus.

  • Gross margin reached 34.0% of revenues in the quarter, progressing by 210 basis points year-on-year driven by better profitability in several business lines as well as favourable mix. The same factors explain the sequential improvement of 140 basis points. 
GEOGRAPHICAL INFORMATION
  • From a geographic standpoint, North America revenues (excluding LGS) declined by 14.0% year-over-year, mainly reflecting lower revenues in the Access segment and in legacy products in IP Transport. 
  • In Europe, the substantial majority of the decrease in revenues is attributable to Managed Services; excluding such impact, revenues decreased 1.8%, with significant strength in IP Routing and IP Transport. 
  • Asia Pacific posted a 22.5% year-over-year growth, driven by LTE network roll-outs in China as well as traction in other markets including Japan and Australia. 
  • In the rest of World, MEA declined at a low single-digit pace, while CALA showed slight growth.

6:29 am Gentherm beats by $0.05, reports revs in-line; reaffirms FY14 revs guidance (THRM) : Reports Q3 (Sep) earnings of $0.49 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 20.3% year/year to $206 mln vs the $204.93 mln consensus.

  • Co reaffirms guidance for FY14, sees FY14 revs of +20% to ~$794.4 mln vs. $812.32 mln Capital IQ Consensus Estimate.
  • Gross margin as a percentage of revenue for the first nine months of 2014 was 29.6 percent compared with 26.1 percent for the first nine months of 2013.  
  • Adjusted EBITDA for the first nine months of 2014 was $95.7 million compared with Adjusted EBITDA of $55.9 million for the comparable period of the prior year representing an increase of $39.8 million or 71 percent.  
 

6:29 am Chart Industries misses by $0.08, misses on revs; guides FY14 below consensus (GTLS) : Reports Q3 (Sep) earnings of $0.77 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus Estimate of $0.85; revenues fell 2.7% year/year to $293.8 mln vs the $327.35 mln consensus.

  • Backlog at September 30, 2014 was $751.8 million, up 8% from the June 30, 2014 level of $695.0 million. Orders for the third quarter of 2014 were $354.4 million, up 26% compared with $280.6 million for the second quarter of 2014.
Co issues downside guidance for FY14, sees EPS of $2.40-2.55 from prior range of $2.85-3.15 vs. $2.87 Capital IQ Consensus Estimate; sees FY14 revs of $1.15-1.18 bln from prior range of $1.22-1.27 bln, excluding non-recurring items, vs. $1.23 bln Capital IQ Consensus Estimate.

6:29 am Ball Corp beats by $0.05, misses on revs (BLL) : Reports Q3 (Sep) earnings of $1.10 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus of $1.05; revenues fell 1.7% year/year to $2.24 bln vs the $2.3 bln consensus. 

  • "As anticipated, volume comparisons in the third quarter were challenging, led by weaker than expected customer demand for our beverage cans in Brazil following the World Cup and for steel food containers in North America," said John A. Hayes, chairman, president and chief executive officer. "Though we continue to navigate through aluminum premium headwinds in Europe, our focus on global cost containment, exceptional manufacturing performance and a lower effective tax rate led to improved third quarter results."
  • "Our third quarter results largely reflected the volume slowdown and current global economic conditions. As we close out the year, we remain confident in our ability to increase EVA dollar generation and achieve our long-term diluted earnings per share growth goal of 10 to 15 percent."

6:28 am ExlService beats by $0.02, misses on revs; sees FY14 EPS guidance at high end of prior range, guides FY14 revs above consensus (EXLS) : Reports Q3 (Sep) earnings of $0.44 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.42; revenues rose 0.2% year/year to $122.5 mln vs the $124.49 mln consensus.

  • Co raises guidance for FY14, sees EPS of higher end of $1.70-1.80 vs. $1.78 Capital IQ Consensus Estimate; raises FY14 revs to $514-518 vs. $493.56 mln Capital IQ Consensus Estimate, up from $490-503 mln.

6:26 am Chambers Street Properties beats by $0.01, beats on revs; guides FY14 FFO in-line (CSG) : Reports Q3 (Sep) core funds from operations of $0.18 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 5.1% year/year to $68.1 mln vs the $66.82 mln consensus; portfoli occupancy 97.3%.

Co issues in-line guidance for FY14, sees FFO of $0.66-0.69 from $0.65-0.69 vs. $0.68 Capital IQ Consensus Estimate.

6:26 am Enterprise Products reports EPS in-line, misses on revs (EPD) : Reports Q3 (Sep) earnings of $0.37 per share, in-line with the Capital IQ Consensus Estimate of $0.37; revenues rose 2.0% year/year to $12.33 bln vs the $12.96 bln consensus.

  • NGL Pipelines & Services -- Gross operating margin for the NGL Pipelines & Services segment increased 11 percent to $712 million for the third quarter of 2014 compared to $640 million for the same quarter of 2013.

6:25 am USA Compression Partners misses by $0.02, reports revs in-line (USAC) : Reports Q3 (Sep) earnings of $0.11 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.13; revenues rose 48.4% year/year to $57 mln vs the $57.23 mln consensus. 

  • Reaffirms 2014 guidance and expects to trend to the high end of this guidance range: 
    • adjusted EBITDA range of $109.0 million to $115.0 million; 
    • distributable cash flow range of $75.0 million to $81.0 million.

6:22 am Quintiles Transnational beats by $0.01, reports revs in-line; raises FY14 EPS in-line (Q) : Reports Q3 (Sep) earnings of $0.65 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.64; revenues rose 13.8% year/year to $1.06 bln vs the $1.06 bln consensus.

Co issues guidance for FY14, raises EPS to $2.61-2.68 from $2.57-2.67, excluding non-recurring items, vs. $2.63 Capital IQ Consensus Estimate; lowers FY14 revs to $4.16-4.19 bln from $4.20-4.24 bln vs. $4.2 bln Capital IQ Consensus Estimate. 

Consolidated book-to-bill ratio of 1.42 results from 12.8% growth in net new business compared to the third quarter of 2013.

Net new business grew 12.8% compared to the same period last year to $1.51 billion representing a book-to-bill ratio of 1.42 in the quarter ended September 30, 2014.

This net new business contributed to an ending backlog of $10.75 billion at September 30, 2014.

6:22 am MDC Holdings reports Q3 (Sep) results, misses on revs (MDC) : Reports Q3 (Sep) earnings of $0.32 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.50; revenues fell 6.0% year/year to $407.7 mln vs the $506.58 mln consensus. EPS includes $4.3 million pretax impairment of securities sold subsequent to quarter-end to fund debt redemption; Tax expense of $8.5 million vs. tax benefit of $1.3 million. 

  • Backlog value at the end of the 2014 third quarter was up 17% year-over-year to $792.1 million.

6:21 am Xcel Energy misses by $0.02, misses on revs; guides FY14 EPS in-line; guides FY15 EPS in-line; updates cap-ex through 2019 (XEL) : Reports Q3 (Sep) earnings of $0.73 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.75; revenues rose 1.7% year/year to $2.87 bln vs the $3.21 bln consensus.

Co issues in-line guidance for FY14, sees EPS of $1.95-2.05, excluding non-recurring items, from $1.90-2.05 vs. $1.99 Capital IQ Consensus Estimate.

Co issues in-line guidance for FY15, sees EPS of $2.00-2.15, excluding non-recurring items, vs. $2.09 Capital IQ Consensus Estimate. 

Updated capital expenditure forecast of $14.5 billion for 2015-2019 released.

"Looking ahead, the updated capital plan we released today positions us to continue to be competitive and supports an attractive value proposition of 4 to 6 percent annual growth in earnings per share and our dividend."

6:19 am Acorda Therapeutics beats by $0.39, beats on revs; raises FY14 AMPYRA guidance (ACOR) : Reports Q3 (Sep) earnings of $0.65 per share, $0.39 better than the Capital IQ Consensus Estimate of $0.26; revenues rose 24.8% year/year to $105.96 mln vs the $94.71 mln consensus. For the quarter ended September 30, 2014, the Company reported AMPYRA net revenue of $96.4 million compared to $77.8 million for the same quarter in 2013.

  • Co raises FY14 AMPYRA Net Revenue guidance to $345-350 mln from $328-335 mln.
  • "AMPYRA sales this quarter were strong, representing a 24% increase over the third quarter of 2013. Our educational programs have steadily raised awareness among consumers, and neurologists increasingly view AMPYRA as a standard of care," said Ron Cohen, M.D., Acorda Therapeutics' President and CEO. 

6:19 am Holcim and Cemex (CX) sign binding agreements on their series of transactions (HCMLY) : Cos announce that they have agreed on adapted parameters to their series of transactions in Europe. In Germany and the Czech Republic, the scope of the transaction remains unchanged, meaning that Holcim will acquire Cemex's (CX) operations in Western Germany while Cemex will take over Holcim's business in the Czech Republic, as previously announced.

  • Due to the changed transaction, Cemex will pay Holcim EUR 45 million in cash. 
  • As a result of these changes, Holcim expects sustainable additional operating EBITDA of at least EUR 10 million on a yearly basis after the closing of the deal. 

6:17 am Time Warner Cable misses by $0.05, reports revs in-line (TWC) : Reports Q3 (Sep) earnings of $1.86 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $1.91; revenues rose 3.6% year/year to $5.71 bln vs the $5.75 bln consensus. 

  • Business Services revenue up 21.9% and residential high-speed data revenue up 10.9%. 
  • Adjusted OIBDA was $2.1 billion - up 2.4% year over year and flat with Q2 - the best third-quarter sequential performance in eight years. 
  • Operating Income of $1.2 billion decreased slightly year over year due to higher depreciation and merger-related costs. 
  • "Continue to expect the Comcast merger to close early in 2015."

6:14 am ACI Worldwide beats by $0.04, misses on revs (ACIW) : Reports Q3 (Sep) earnings of $0.18 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 16.7% year/year to $249.6 mln vs the $258.64 mln consensus. 

  • New sales bookings, net of term extensions, increased 6% compared to the prior year quarter. Overall sales bookings including term extensions increased 18% compared to the prior year.

6:12 am Harte-Hanks misses by $0.02, beats on revs (HHS) : Reports Q3 (Sep) earnings of $0.10 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.12; revenues fell 0.7% year/year to $134.1 mln vs the $132.2 mln consensus. 

6:10 am Chart Industries receives brazed aluminum heat exchanger and cold boxes order from Sasol (SSL) (GTLS) : Co announced that Sasol (SSL) has awarded its wholly-owned subsidiary, Chart Energy & Chemicals, Inc., a contract for the supply of brazed aluminum heat exchangers and cold boxes for an ethane cracker at Lake Charles, LA. The BAHX will be engineered and manufactured in Chart's La Crosse, Wisconsin plant and installed in cold boxes built at Chart's dedicated facility in New Iberia, LA, before final shipment to Lake Charles.

  • The Sasol owned cracker will produce an estimated 1.5 million tons of ethylene per annum and features Technip's proprietary ethylene technology.

6:08 am Air Products beats by $0.04, misses on revs; guides Q1 EPS in-line; guides FY15 EPS in-line (APD) : Reports Q4 (Sep) earnings of $1.66 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $1.62; revenues rose 3.5% year/year to $2.68 bln vs the $2.72 bln consensus.

  • Excluding the impact from our exit of the Polyurethane Intermediates (PUI) business, underlying sales were up four percent on one percent stronger pricing and three percent higher volumes, primarily in Merchant Gases, and Electronics and Performance Materials. Sequential sales increased two percent, driven by three percent higher volumes.
Co issues in-line guidance for Q1, sees EPS of $1.45-1.50, excluding non-recurring items, vs. $1.48 Capital IQ Consensus .

Co issues in-line guidance for FY15, sees EPS of $6.30-6.55, excluding non-recurring items, vs. $6.38 Capital IQ Consensus.
  • "The outlook for the global economy is unclear, and as a result, we will focus on implementing our plan to restructure the company, reduce costs, and improve cash flow.

6:07 am CIGNA beats by $0.13, beats on revs; raises FY14 EPS guidance (CI) : Reports Q3 (Sep) earnings of $1.95 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus Estimate of $1.82; revenues rose 8.6% year/year to $8.76 bln vs the $8.66 bln consensus.

  • Co issues in-line guidance for FY14, raises EPS to $7.25-7.45 from $7.20-7.40 vs. $7.34 Capital IQ Consensus Estimate.
  • Gross profit margin for the quarter was 12.1%, which was higher than the prior year period of 6.3%. The increase was a result of higher asset utilization and solid project execution. 
  • The Company's third quarter 2014 EBITDA was $11.4 million, representing a 10.7% EBITDA margin, which compares to third quarter 2013 EBITDA of $3.1 million, or a 3.5% EBITDA margin.

6:04 am ExlService acquires Overland Solutions, a leader in underwriting support services for the p&c insurance industry for $53 mln in cash; expected to be immediately accretive to adjusted EPS and contribute ~$10 mln of revenue in the fourth quarter (EXLS) : Co announced the acquisition of Overland Solutions, Inc., a leading provider of underwriting support services including premium audit, commercial and residential underwriting surveys and outsourced loss control services. Overland Solutions will enhance EXL's position in the property and casualty insurance industry with its leading domain expertise, proprietary technology, and client relationships which include 21 of the Top 25 P&C insurers. Overland Solutions also adds to EXL's on-shore delivery capabilities with its nationwide footprint.

  • The merger consideration of $53 mln in cash was funded from existing cash resources on our balance sheet. 
  • The transaction is expected to be immediately accretive to adjusted EPS and contribute ~$10 mln of revenue in the fourth quarter.

6:03 am Orion Marine beats by $0.02, beats on revs (ORN) : Reports Q3 (Sep) earnings of $0.11 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.09; revenues rose 20.2% year/year to $107 mln vs the $103.97 mln consensus. 

  • Gross profit margin for the quarter was 12.1%, which was higher than the prior year period of 6.3%. The increase was a result of higher asset utilization and solid project execution. The Company's third quarter 2014.
  • EBITDA was $11.4 million, representing a 10.7% EBITDA margin, which compares to third quarter 2013 EBITDA of $3.1 million, or a 3.5% EBITDA margin.

6:03 am Chart Industries extends and increases senior credit facility; combines revolving credit facility into a single revolving credit facility and increases it by $150 mln, up to $450 mln (GTLS) : Co announced that it has amended its senior secured credit facility. The amendment combines the Company's prior term loan and revolving credit facility into a single revolving credit facility and increases it by $150 mln, up to $450 mln, extends it two years to October 2019, and lowers the borrowing costs under the agreement.

  • Under the terms of the amended facility, significant financial covenants include a maximum net debt to EBITDA ratio of 3.25 and a minimum interest coverage to EBITDA ratio of 3.0, which are the same that applied under the prior facility. However, the Company is able to increase its leverage ratio to 3.75 for 12 months, if necessary, following an acquisition or plant expansion of $100 million or greater. 
  • Loans under the facility bear interest at LIBOR or Prime, plus a margin that varies with the Company's net debt to EBITDA ratio, which should result in effective interest rates 0.5% below the Company's prior credit facility. The prior senior credit facility was scheduled to mature in April 2017.

6:02 am Rentech Nitrogen Partners: Tessenderlo Kerley and Rentech Nitrogen Partners sign agreement to enable construction of new Thio-Sul manufacturing plant (RNF) : Tessenderlo Kerley, the north American subsidiary of Brussels-based Tessenderlo Group, has signed a long-term agreement with Rentech Nitrogen Partners to lease property adjacent to Rentech Nitrogen's production facility in East Dubuque, Illinois for the purpose of building a new plant to manufacture the TKI liquid fertilizer Thio-Sul.

  • The agreement creates an exclusive supply relationship for Rentech Nitrogen to provide ammonia to the new TKI manufacturing facility. Ammonia is a key ingredient in the production of Thio-Sul. 
  • TKI will own, construct, and operate the new production plant. Construction is expected to begin immediately upon receiving approval of necessary permits. 
  • When completed, the new plant will enhance the TKI position as the world's largest producer of sulfur-based liquid fertilizers.

6:01 am Akzo Nobel N.V. details financial benefits of carbon credits methodology (AKZOY) : Two ship owners are due to be awarded a combined total of almost $500K when the first claims resulting from a new carbon credits methodology developed by AkzoNobel and The Gold Standard Foundation are finalized next year.

  • The scheme allows ships to generate income in the form of carbon credits, which are earned by reducing CO2 emissions. A total of 17 vessels feature in the first two claims, while 50 further vessels are expected to join the scheme by the end of the year. 
  • "Based on the 100 eligible ships already converted from a biocidal antifouling to Intersleek technology, there is an estimated $2.8 mln worth of carbon credits potentially available to ship owners and operators."

4:35 am On The Wires (:WIRES) :

  • Lenovo (LNVGY) announced a new addition to the new YOGA Tablet 2 family with the new YOGA 13-in Tablet 2 with Windows. This latest Lenovo tablet offers consumers a unique experience by blending the productivity and familiarity of Windows 8.1 along with a host of entertainment features all on a brilliant 13.3-in Quad HD display.
  • Gra a y Montero S.A.A. (GRAM) announced its subsidiary GMD S.A. was awarded the "Integrated Collection System and Fleet Control for Trujillo City" project for a period of twenty years. This project derived from the private initiative presented by GMD S.A. and declared of interest on June 17, 2014. 
  • This holiday Amazon (AMZN) customers will find more than 15,000 Lightning Deals, including brand new early access deals for Prime members. Customers can find the best deals at www.amazon.com/blackfriday. 

4:07 am Carbo Ceramics beats by $0.08, beats on revs (CRR) : Reports Q3 (Sep) earnings of $0.83 per share, $0.08 better than the Capital IQ Consensus Estimate of $0.75; revenues fell 22.9% year/year to $155.4 mln vs the $150.77 mln consensus.

Outlook
"Ceramic proppant volumes for the fourth quarter have the potential to be higher than the third quarter of 2014, subject to seasonality.  The fourth quarter is a historically seasonal time of the year when weather and holidays negatively impact industry activity.  Also, given current market conditions and the possible impact lower oil and gas prices could have on our E&P clients' financial condition, we will likely see lower pricing for our ceramic proppant..."

3:34 am Audiocodes misses by $0.01, beats on revs; CFO leaving co to pursue other interests (AUDC) : Reports Q3 (Sep) earnings of $0.04 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.05; revenues rose 11.1% year/year to $38.9 mln vs the $38.3 mln consensus.

  • Revenues from sales of SBC products grew more than 100% year-over-year 
  • Revenues from our new products group category grew more than 30% over the previous quarter 
New Chief Financial Officer
  • The Company announced that it has appointed Ofer Segev as its new Vice President of Finance and Chief Financial Officer, effective November 1, 2014. Segev has served as Chief Financial Officer of private and public companies, including Ness technologies and he also served as its CEO. 
  • Guy Avidan, AudioCodes' Vice President of Finance and Chief Financial Officer, will be leaving AudioCodes at the end of the month after more than four years at the Company in order to pursue new challenges. 

3:27 am Raytheon awarded $205 million Phalanx upgrade contract (RTN) : Co was awarded a multi-year bulk buy contract totaling over $200 million to provide Phalanx Close-in Weapon Systems upgrade kits, support equipment and hardware spares to the Japan Maritime Self-Defense Force. The CIWS is an integral element of Japan's Ship Self-Defense Program.

3:03 am GW Pharma commences Phase 2/3 clinical trial of Epidiolex as a potential treatment for epilepsy in Dravet Syndrome (GWPH) : announced it has commenced a Phase 2/3 clinical trial of Epidiolex for the treatment of Dravet syndrome, a rare and catastrophic treatment-resistant form of childhood epilepsy. GW anticipates commencing an additional Phase 3 trial in Dravet syndrome in the first quarter of 2015 in parallel with part two of the first Phase 2/3 trial. The company also expects to commence two Phase 3 clinical trials in Lennox-Gastaut syndrome in the first quarter of 2015.

"The results of our open-label trial of Epidiolex in children with Dravet syndrome have been very encouraging and we are excited to begin this important placebo-controlled clinical trial..."

1:12 am Aegion beats by $0.01, reports revs in-line (AEGN) : Reports Q3 (Sep) earnings of $0.43 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.42; revenues rose 13.8% year/year to $350.1 mln vs the $348.03 mln consensus.

  • Water and Wastewater delivered strong revenue growth resulting in a 21.8 percent increase in non-GAAP operating income. 
  • Commercial and Structural generated an operating profit of $1.3 million, which is indicative of the efforts underway to improve business performance in 2014. 
  • Consolidated contract backlog as of September 30, 2014 increased 4.8 percent to $751.9 million.

1:04 am CEMEX S.A.and Holcim (:HCLMY) agree on series of transactions in Europe (CX) : CEMEX announced today that it has signed binding agreements with Holcim regarding the series of transactions originally announced on August 28, 2013. 

  • The main scope of the transactions in Germany and the Czech Republic remain unchanged: CEMEX will acquire all of Holcim's assets in the Czech Republic and will divest its assets in the western part of Germany to Holcim. In Spain, CEMEX will now acquire Holcim's Gador cement plant (cement capacity of 0.85 million tons) and its Yeles cement grinding station (cement capacity of 0.90 million tons). Holcim will keep all its other operations in Spain. 
  • As part of these transactions, CEMEX will pay 45 million in cash to Holcim. Once the transactions are closed, CEMEX expects a recurring improvement in its EBITDA, including synergies, of about US$20 to US$30 million. 
  • These transactions are expected to close during the first quarter of 2015. 

12:37 am Education Mgmt extends its exchange offer on all outstanding Senior Cash Pay/PIK Notes due 2018 and Senior PIK Toggle Notes due 2018 until Nov 24, from Oct 29 prior (EDMC) :  

12:29 am Inogen prices 2,100,775 shares of its common stock at $21.50 per share in a secondary offering by selling shareholders (INGN) :  

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