6:49 pm Exterran increases quarterly cash distribution slightly to $0.5625 from $0.5575 per limited partner unit (EXLP) :  

6:41 pm Barrick Gold misses by $0.04, misses on revs (ABX) : Reports Q1 (Mar) earnings of $0.05 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of $0.09; revenues fell 15.2% year/year to $2.25 bln vs the $2.35 bln consensus.

• Production and costs in the first quarter were in line with operating plans. The company produced 1.39 million ounces of gold at all-in sustaining costs of $927 per ounce and generated $316 million in operating cash flow.
  
• The company remains committed to debt reduction of at least $3 billion by the end of 2015, with asset sales and other initiatives well advanced.
  
• Barrick is announcing a significant new gold discovery, known as Alturas, on Chile's prolific El Indio belt. Drilling to date suggests Alturas is geologically similar to Veladero, with the potential to be significantly higher grade.
  

Guidance: Gold production guidance for 2015 is 6.2-6.6 million ounces at AISC of $860-$895 per ounce. Production will be approximately 55 percent weighted to the second half of the year and costs are expected to be 20 percent lower in that period. Additionally, all-in sustaining costs and cash costs are expected to be highest in the second quarter of the year.

6:35 pm Merck announces publication of data from two Phase 3 clinical studies of ZERBAXA (ceftolozane/tazobactam) in The Lancet and Clinical Infectious Diseases; both studies met the primary endpoint (MRK) : Co announced that The Lancet and Clinical Infectious Diseases have published online the results from the pivotal Phase 3 clinical studies of ZERBAXA (ceftolozane/tazobactam) for Injection (1 g/0.5 g) in complicated urinary tract infections (cUTI) and complicated intra-abdominal infections (cIAI), respectively. The results will also appear in forthcoming print issues of the journals. Merck acquired ZERBAXA as a part of its purchase of Cubist Pharmaceuticals.

• About the study of ZERBAXA in cUTI: ZERBAXA met the study's primary endpoint of statistical non-inferiority compared to levofloxacin (10% non-inferiority margin). The primary endpoint was a composite of microbiological eradication and clinical cure rate (composite cure rate) at 5-9 days after the end of therapy (the test of cure visit). The 95% confidence interval around the treatment difference had lower and upper bounds of 2.3% and 14.6%, respectively.
  
• About the study of ZERBAXA in cIAI: The primary endpoint of this study was the clinical cure rate 24-32 days after the initiation of therapy (the test of cure visit). For the U.S. Food and Drug Administration, the primary analysis was conducted in the microbiological intent-to-treat population; the non-inferiority margin was 10%; and the lower and upper bounds of the 95% confidence interval were -8.9% and 0.5%, respectively. For the European Medicines Agency (:EMA), the primary analysis population was clinically evaluable patients; the non-inferiority margin was 12.5%; and the lower and upper bounds of the 99% confidence interval were -4.2% and 4.3%, respectively.
  

6:16 pm Mine Safety misses by $0.10, misses on revs (MSA) : Reports Q1 (Mar) earnings of $0.42 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus Estimate of $0.52; revenues fell 3.0% year/year to $257.35 mln vs the $277.01 mln consensus.

• Strong shipping activity of self-contained breathing apparatus (:SCBA), fire helmets and fixed gas and flame detection was partially offset by weaker results in industrial head protection and portable gas detection instruments, primarily in energy markets.
  
• "Our first quarter reflected a strong uptick in SCBA shipments offset by expected weakness in products sold into energy markets," said William M. Lambert, MSA President and CEO. He noted that the company continues to see meaningful levels of order activity in its new and revolutionary G1 SCBA, which helped to offset weakness in industrial head protection and portable gas detection, driven by decreased demand in the North American energy market.
  

6:14 pm Seaspan beats by $0.02, reports revs in-line (SSW) : Reports Q1 (Mar) earnings of $0.25 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.23; revenues rose 12.2% year/year to $188.55 mln vs the $188.11 mln consensus.

6:07 pm Yahoo! announces 18 new series across Live, Digital Magazines, and Original video programing as well as new advertising opportunities (YHOO) :  

6:05 pm Silicon Motion beats by $0.04, beats on revs; guides Q2 revs in-line; raises low end of FY15 rev guidance (SIMO) : Reports Q1 (Mar) earnings of $0.48 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 52.6% year/year to $80.65 mln vs the $79.61 mln consensus.

• Gross margin (non-GAAP( decreased to 52.0% from 52.5% in 4Q14
  

Co issues in-line guidance for Q2, sees Q2 revs of +5-10% sequentially (~$84.7-88.7 mln) vs. $85.58 mln Capital IQ Consensus Estimate. Sees non-GAAP gross margin of 50-52%, non-GAAP operating expenses of ~$23-24 mln.

Co issues in-line guidance for FY15, sees FY15 revs of +17-25% (~$338.5-361.7 mln, raised from prior guidance of +15-25%) vs. $353.52 mln Capital IQ Consensus Estimate. Sees non-GAAP gross margin of 49.5-51.5%, non-GAAP operating expenses of ~$91-97 mln.

• "We believe that we are gaining share in the client SSD controller market and rapidly winning sockets and new designs with a broad range of OEMs. We remain on track to grow our market leading eMMC business as previously communicated."

5:51 pm Boston Properties beats by $0.06, beats on revs; guides Q2 FFO in-line; raises FY15 FFO in-line (BXP) : Reports Q1 (Mar) funds from operations of $1.30 per share, $0.06 better than the Capital IQ Consensus Estimate of $1.24; revenues rose 7.6% year/year to $618.48 mln vs the $588.43 mln consensus.

Co issues in-line guidance for Q2, sees FFO of $1.32-1.34 vs. $1.34 Capital IQ Consensus Estimate.

Co issues in-line guidance for FY15, sees FFO of $5.35-5.45 (raised from $5.28-5.43) vs. $5.38 Capital IQ Consensus Estimate.

5:45 pm Crane misses by $0.08, reports revs in-line; lowers FY15 EPS guidance in-line due to impact of foreign exchange (CR) : Reports Q1 (Mar) earnings of $0.92 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus Estimate of $1.00; revenues fell 5.3% year/year to $678.8 mln vs the $676.06 mln consensus.

Co issues in-line guidance for FY15, sees EPS of $4.30-4.50, excluding non-recurring items, (lowered from $4.45-4.65) vs. $4.48 Capital IQ Consensus Estimate, with the reduction solely a result of incremental foreign exchange headwinds. Core sales are expected to be flat to up 2%, while divestitures are expected to reduce sales by 0.5%.

5:42 pm Regal-Beloit increases quarterly dividend 4.5% to $0.23 from $0.22 per share (RBC) :  

5:40 pm Chanticleer announces filing of shelf registration statement; Announces signing of a letter to acquire Pacific Northwest 'Better Burger' chain (HOTR) : Co announced the filing of a shelf registration statement on Form S-3 with the SEC. Additionally, Chanticleer Holdings announced that it has entered a Letter Of Intent (:LOI) for the acquisition of an eight store, award-winning "better burger" concept in the Pacific Northwest.

• The registration statement will provide the opportunity for the Company to offer and sell, from time to time, up to $15,000,000 million of securities in the form of common stock, warrants, units or rights during the three-year period following its effective date. The registration statement also permits the sale of 900k shares of common stock by selling stockholders
  
• Chanticleer Holdings announced that it has entered a LOI for the acquisition of an eight store, award-winning "better burger" concept in the Pacific Northwest. This acquisition would considerably expand Chanticleer's presence in the Pacific Northwest region and further expand the company's presence in the better burger sector.
  

5:33 pm Perceptron sees Q3 GAAP EPS of ($0.18)-(0.16) vs $0.09 Capital IQ Consensus Estimate, revs of just over $16 mln vs $17.43 mln consensus (PRCP) :

• "While we are still finalizing results for the period that ended March 31, 2015, we currently expect revenue for the third quarter will be just over $16 million (vs $17.43 mln Capital IQ Consensus Estimate). Despite significant impacts due to the Euro exchange rate, we remain on track to achieve full-year fiscal 2015 revenue of about $70 million, compared with $59.6 million in fiscal 2014. With a healthy quarter-end backlog of approximately $43 million, we expect full-year revenue to still reflect strong organic growth as well as a full quarter's contribution of the two businesses we acquired during the third quarter." 
• "For the third quarter of fiscal 2015, we anticipate a net loss in the range of 16-18 cents per share (vs $0.09 Capital IQ Consensus Estimate) due to transaction-related and other one-time expenses of approximately 11 cents per share, as well as the effect on gross margin of project timing, and to a lesser extent, weakness of the Euro," noted Jeff Armstrong, president and CEO.

5:29 pm Jones Lang LaSalle beats by $0.43, beats on revs; increases quarterly dividend 8% to $0.27 from $0.25 per share (JLL) : Reports Q1 (Mar) earnings of $0.94 per share, $0.43 better than the Capital IQ Consensus Estimate of $0.51; revenues rose 16.0% year/year to $1.2 bln vs the $1.15 bln consensus.

• Consolidated fee revenue for the first quarter was $1.0 billion, up 25 percent from 2014. Growth was broad-based, led by Capital Markets, up $60 million or 64 percent, and Leasing, up $37 million or 17 percent.
  
• Adjusted EBITDA margin calculated on a fee revenue basis was 8.7 percent for the first quarter, compared with 5.9 percent last year.
  

5:26 pm Civeo announces it has won four new contracts totaling CAD $64 mln in aggregate value (CVEO) : As a result of these contracts, Civeo will support four different projects that service oil sands mines in the Athabasca region, natural gas production in northwest Alberta, and a gold mine in British Columbia. These contracts reduce the uncontracted revenue included in the Company's full year 2015 guidance for revenue and EBITDA. Additionally, these contracts will not impact the Company's capital expenditure guidance for 2015.

5:26 pm FS Investment prices public offering of $275 mln of 4.750% unsecured notes due 2022 (FSIC) : The notes will mature on May 15, 2022 and may be redeemed in whole or in part at FSIC's option at any time at par plus a "make-whole" premium, if applicable. The offering is expected to close on April 30, 2015, subject to customary closing conditions. J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for this offering. FSIC expects to use the net proceeds of this offering to repay outstanding indebtedness.

5:25 pm Owens & Minor beats by $0.01, reports revs in-line; reaffirms FY15 EPS guidance (OMI) : Reports Q1 (Mar) earnings of $0.44 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.43; revenues rose 6.0% year/year to $2.39 bln vs the $2.39 bln consensus.

Co reaffirms guidance for FY15, sees EPS of $1.90-1.95, excluding non-recurring items, vs. $1.93 Capital IQ Consensus Estimate.

5:19 pm QTS Realty Trust reports FFO in-line, beats on revs; lowers FY15 FFO guidance in-line (QTS) : Reports Q1 (Mar) operating funds from operations of $0.50 per share, in-line with the Capital IQ Consensus Estimate of $0.50; revenues rose 25.4% year/year to $61.39 mln vs the $60.34 mln consensus.

• Co reported NOI of $40.6 million in the first quarter of 2015, an increase of 28.8% compared to the first quarter of 2014

Co issues in-line guidance for FY15, sees operating FFO of $2.07-2.17 (lowered from $2.24-2.34) vs. $2.15 Capital IQ Consensus Estimate. Co reaffirms guidance for adjusted EBITDA of $115-123 mln.

5:15 pm CNOOC Ltd announces proposed offering of guaranteed notes (CEO) : The Notes will be issued by CNOOC Finance (2015) Australia Pty Ltd, an indirect wholly-owned subsidiary of the Company incorporated in Victoria, Australia, and by CNOOC Finance (2015) U.S.A. LLC, an indirect wholly-owned subsidiary of the Company formed in Delaware, U.S.A., and will be guaranteed by the Company. The proceeds will be used for general corporate purposes.

5:07 pm A. Schulman commences $110 mln offering of Cumulative Perpetual Convertible Special Stock (SHLM) : Co commenced a registered public offering of $110 million aggregate liquidation preference of Cumulative Perpetual Convertible Special Stock, subject to market and other conditions. The Company intends to use the net proceeds from the Cumulative Perpetual Convertible Special Stock offering to fund a portion of the cash consideration to be paid in its proposed acquisition of HGGC Citadel Plastics Holdings, and to pay transaction-related fees and expenses. In the event the Company does not consummate the Acquisition, it intends to use the net proceeds from the Cumulative Perpetual Convertible Special Stock offering for general corporate purposes, including, without limitation, the repayment of indebtedness. J.P. Morgan Securities LLC and BofA Merrill Lynch are serving as joint book-running managers for the offering.

5:04 pm Interdigital Comm confirms ruling in favor of the company in ITC action involving Nokia, Microsoft (MSFT) Mobile (IDCC) : The co announced that it has received a Notice of the Initial Determination On Remand by the Administrative Law Judge in U.S. International Trade Commission investigation No. 337-TA-613 in which the ALJ finds that the company has prevailed in its complaint against respondents Nokia Corporation (NOK), Nokia Inc. and Microsoft (MSFT) Mobile Oy

• The Notice states that the ALJ's initial determination found that Nokia and Microsoft Mobile products infringe two InterDigital patents, that there is no evidence that InterDigital has engaged in "patent hold-up", and that Nokia and Microsoft Mobile's claims that InterDigital's FRAND commitments preclude relief do not have merit. It also held that there is evidence of "reverse patent hold-up" by one or more of the Nokia and Microsoft Mobile respondents in the case. "Reverse patent hold-up" generally refers to implementing standards-based technology without being genuinely willing to obtain and pay for a license on FRAND terms and conditions to the owner of patents related to that technology.
  
• The ITC's Final Determination in the investigation is currently expected by August 28, 2015.
  

5:04 pm Universal Health beats by $0.21, beats on revs (UHS) : Reports Q1 (Mar) earnings of $1.78 per share, excluding non-recurring items, $0.21 better than the Capital IQ Consensus Estimate of $1.57; revenues rose 10.9% year/year to $2.38 bln vs the $2.31 bln consensus. 

• "During the first quarter of 2015, at our acute care hospitals owned during both periods, adjusted admissions (adjusted for outpatient activity) increased 5.7% and adjusted patient days increased 7.5%, as compared to the first quarter of 2014."
  
• "During the first quarter of 2015, at our behavioral health care facilities on a same facility basis, adjusted admissions increased 6.0% while adjusted patient days increased 2.6% as compared to the first quarter of 2014."
• During the first quarter of 2015 co repurchased 48,269 shares at an aggregate cost of $5.6 million
  

5:03 pm Hersha Hospitality Trust beats by $0.01, beats on revs; guides FY15 FFO in-line (HT) : Reports Q1 (Mar) funds from operations of $0.07 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.06; revenues rose 19.7% year/year to $95.7 mln vs the $92.45 mln consensus.

• Q1 2015 Hotel EBITDA Growth of 22.4% 
• Co issues in-line guidance for FY15, sees FFO of $0.56-0.58 vs. $0.56 Capital IQ Consensus Estimate.
  

5:01 pm Sysco Canada will acquire Tannis Trading, a broadline foodservice distributor in Ottawa, Ontario; terms not disclosed (SYY) : While financial terms of the proposed transaction were not disclosed, Tannis Trading had revenues of approximately $118 million (Canadian) in its most recent fiscal year. The transaction's completion is subject to review by Canadian regulatory agencies.

5:01 pm Craft Brew Alliance reconfirms 2015 CapEx guidance; sees 2016 CapEx in the range of $17-21 mln (BREW) : Co announced that it is reconfirming 2015 full year guidance and providing additional details of its capital expenditure plans for 2015 and 2016, which expand on the company's recently announced investment projects. CBA recently announced two major brewery expansions in Hawaii and Oregon, as well as a new brewpub in Seattle. The planned investments will increase CBA's annual brewing capacity by 300,000 barrels (BBLs) in 2017, while supporting the company's long-term gross margin goals

Reconfirmed financial highlights for 2015 

• Owned beer shipment growth between 6% and 8%.
• Average price increase of 1% to 2%. 
• Gross margin rate of 30.5% to 31.5%. Through ongoing efforts to optimize our brewing locations and improve our capacity utilization and efficiency, we continue to expect gross margin expansion to 35% in 2017.
• SG&A expense ranging from $58 million to $62 million, primarily 

Reconfirmed capital expenditures for 2015; anticipated capital expenditures for 2016 

• The company reconfirms capital expenditures of approximately $17 million to $21 million in 2015.
• For 2016, the company anticipates capital expenditures in a similar range, between $17 million and $21 million.
  

5:00 pm Merck announced that its trial of Januvia, which evaluates cardiovascular outcomes with sitagliptin, achieved its primary endpoint of non-inferiority for the composite cardiovascular endpoint (MRK) : Among secondary endpoints, there was no increase in hospitalization for heart failure in the sitagliptin group versus placebo.

• When JANUVIA was used in combination with a sulfonylurea or insulin, medications known to cause hypoglycemia, the incidence of hypoglycemia was increased over that of placebo. 
  
• The incidence of hypoglycemia based on all reports of symptomatic hypoglycemia were: 12.2 percent  for JANUVIA 100 mg in combination with glimepiride, 1.8 percent  for placebo in combination with glimepiride, 15.5 percent for JANUVIA 100 mg in combination with insulin, and 7.8 percent for placebo in combination with insulin 
• The complete results of TECOS will be presented on June 8, 2015 at the 75th Scientific Sessions of the American Diabetes Association.
  

4:59 pm Procera Networks beats by $0.07, beats on revs; reaffirms FY15 revs guidance (previously announced being acquired by private funds managed by Francisco Partners) (PKT) : Reports Q1 (Mar) loss of $0.03 per share, $0.07 better than the Capital IQ Consensus Estimate of ($0.10); revenues rose 41.4% year/year to $20.5 mln vs the $17.01 mln consensus. Co reaffirms guidance for FY15, sees FY15 revs of +15% ($86.72 mln) vs. $85.68 mln Capital IQ Consensus Estimate.

4:54 pm UDR reports FFO in-line, beats on revs; guides Q2 FFO in-line; raises FY15 FFO guidance in-line (UDR) : Reports Q1 (Mar) funds from operations of $0.40 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.40; revenues rose 11.0% year/year to $219.75 mln vs the $208.1 mln consensus.

• Year-over-year same-store revenue and net operating income growth for the quarter were 5.1 percent and 6.2 percent, respectively.
  
• During the first quarter, the Company issued approximately 3.4 million common shares through its ATM equity program, at an average gross price of $32.29. Net of fees, the shares were issued at an average price of $31.64, for total net proceeds of $109 million.
  

Co issues in-line guidance for Q2, sees FFO of $0.39-0.40, excluding non-recurring items, vs. $0.40 Capital IQ Consensus Estimate.

Co issues in-line guidance for FY15, sees FFO of $1.61-1.65, excluding non-recurring items, (raised from $1.58-1.64) vs. $1.63 Capital IQ Consensus Estimate.

• Co sees FY15 same store rev growth of 4.25-4.75% (raised from 3.75-4.25%)

4:51 pm Galapagos NV (GLPYY) announced earlier that the selective JAK1 inhibitor filgotinib, as once-daily monotherapy, has achieved its primary endpoints after 12 weeks into its DARWIN 2 study (GLPGF) : Co announced today that the selective JAK1 inhibitor filgotinib as once-daily monotherapy showed rapid improvements in signs and symptoms of moderately severe, active rheumatoid arthritis and met key efficacy endpoints after 12 weeks of treatment in the DARWIN 2 Phase 2B study.

• The study achieved its primary endpoint at all doses and demonstrated statistically significant improvements in ACR20 response versus placebo after 12 weeks of treatment. 
• In addition, statistically significant ACR50 response and DAS28(:CRP) decrease were achieved with all dose levels. Filgotinib was well tolerated in this study. 
• Hemoglobin levels increased. 
• The first 12 week results in the ongoing 24 week study are consistent with the efficacy and safety profile of filgotinib observed in prior clinical studies. 
• Co expects the final 24 week data for both DARWIN 1 and 2, later this year
  

4:42 pm Cheviot Finl announces appointment of interim CEO Mark Reitzes to permanent President and CEO (CHEV) : The co. announced that interim President and Chief Executive Officer Mark Reitzes has been appointed permanent President and Chief Executive Officer of Cheviot Financial Corp. and Cheviot Savings Bank. Mr. Reitzes joined the Boards of Directors of Cheviot Financial Corp. and Cheviot Savings Bank in July 2014. He served as President and Chief Executive Officer on an interim basis, effective February 6, 2015.

4:41 pm Apple beats on the top & bottom line as iPhones top expectations; Q2 margins top estimates; guides Q3 revs & gross margins in-line (AAPL) : Reports Q2 (Mar) earnings of $2.33 per share, $0.17 better than the Capital IQ Consensus Estimate of $2.16; revenues rose 24.4% year/year to $58.01 bln vs the $56.1 bln consensus.  Co reports Q2 gross margins of 40.8% vs guidance of 38.5-39.5% (ests near ~39.6%) vs 39.3% last year.

• Q2 iPhones 61.2 mln vs 57 mln ests vs 43.7 mln last year. 
• Q2 iPads 12.6 mln vs 14 mln ests vs 16.4 mln last year. 
• Q2 Macs 4.6 mln vs 4.6 mln ests vs 4.1 mln last year. 
  
• Co issues in-line guidance for Q3, sees Q3 revs of $46-48 bln vs. $47.09 bln Capital IQ Consensus Estimate; sees Q3 gross margins of 38.5-39.5% vs 39.2% ests vs 39.4% last year. 
• Co reported China revs of $16.82 bln vs America's of $21.32 bln. 
• AAPL announced increased share repurchase authorization to $140 bln from $90 bln; increases quarterly dividend to $0.52/share from $0.47/share.
  

4:37 pm CTS Corp misses by $0.03, misses on revs; reaffirms FY15 guidance; raises buyback (limited coverage) (CTS) : Reports Q1 (Mar) earnings of $0.20 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus of $0.23; revenues fell 2.4% year/year to $98.3 mln vs the $99.85 mln consensus.

Co reaffirms guidance for FY15, sees EPS of $0.98-1.10 vs. $0.98 Capital IQ Consensus Estimate; sees FY15 revs of $400-430 mln vs. $404.97 mln Capital IQ Consensus. Currency continues to be a concern and may unfavorably impact Management's guidance by 2-3% on sales and 5-8 cents on earnings.

CTS is expanding its share buyback program by $25 million. Including the remaining portion of the previous authorization, the total program has increased to approximately $32 million.

4:35 pm Vermillion announces expanded medical policy coverage for OVA1 Test (VRML) : Co announces expanded medical policy coverage of its OVA1 test, following Blue Cross Blue Shield of Michigan's recent decision to include OVA1 in its medical policy guidelines. Blue Cross Blue Shield of Michigan, the largest health plan in Michigan, covering 5.4 million members, joins several other Blue Cross Blue Shield plans that have adopted positive coverage for OVA1.

4:35 pm RLJ Entertainment Receives Expected NASDAQ Notice related to delay in Form 10-K filing (RLJE) : RLJ Entertainment plans to file its 10-K as soon as possible, following certain completed capital structure transaction and year-end audit work.

4:34 pm CoreSite Realty announces the sale of 4.5 mln shares of its common stock by investment funds affiliated with The Carlyle Group (CG) (COR) : Upon completion of the offering, The Carlyle Group (CG) will continue to hold 20,775,390 partnership units in the Co's operating partnership that they may elect to redeem in whole or in part for cash or, at the Co's option, the Co may elect to acquire those operating partnership units submitted for redemption in exchange for shares of its common stock on a one-for-one basis. Neither the Co nor its management is selling any shares of common stock in the offering and the Co will not receive any of the proceeds from the offering of shares by the selling stockholders.

4:34 pm Cryolife announces resolution of FDA warning letter (CRY) : Co announced that it has received a close-out letter from the United States Food and Drug Administration verifying that the Company has successfully implemented corrective actions put in place following the warning letter it received from the FDA in January 2013.

4:33 pm Omnova Solutions announces price increase for latex products sold into the Americas (OMN) : The co. announced a price increase of up to $0.10/dry pound on all styrene butadiene latex products and up to $0.06/dry pound on all styrene acrylic latices sold into all markets in the Americas, effective May 15, 2015, or as contracts allow

4:33 pm Dun & Bradstreet to purchase Dun & Bradstreet Credibility Corpation for $320 million; transaction is expected to become accretive to Dun & Bradstreet's adjusted EPS beginning in 2016 (DNB) :

• Co and Dun & Bradstreet Credibility Corporation announced the formation of a new division, Dun & Bradstreet Emerging Businesses, a combination of Dun & Bradstreet Credibility Corporation's leading technology and data solutions with Dun & Bradstreet's small and mid-sized business assets.
• The new division will create a powerful team representing Dun & Bradstreet in the marketplace and will leverage Dun & Bradstreet Credibility Corporation's established track record and suite of products to serve the unique needs of emerging business customers.
• The transaction has been approved by both boards of directors and is expected to close during May of 2015, pending regulatory approval.
  

4:32 pm First Acceptance announces an agreement to acquire the assets of 83 retail stores from Titan Non-Standard Automobile Insurance Agencies, for $34.5 mln in cash (FAC) : Co has entered into an agreement to acquire certain assets of Titan Insurance Services, Inc. and Titan Auto Insurance of New Mexico, Inc. The agencies sell private passenger non- standard automobile insurance principally in California, but also in Texas, Arizona, Florida, Nevada and New Mexico.

• Under the terms of the transaction, First Acceptance will pay a total of $34.5 million in cash for the assets of 83 retail stores. 
• The transaction is expected to close effective July 1, 2015. Company is currently in negotiations to partially finance the acquisition.
  

4:32 pm Springleaf Hldgs announces public offering of ~22.73 mln shares of common stock; ~3.8 mln shares being offered by selling stockholders and ~18.9 mln shares being offered by the company (LEAF) : Co announced the commencement of a public offering of 22,727,273 shares of its common stock, subject to market conditions. Of the total shares being offered, 3,787,879 shares are being offered by Springleaf Financial Holdings, an entity owned primarily by a private equity fund managed by an affiliate of Fortress Investment Group LLC and AIG Capital Corporation, a subsidiary of American International Group (AIG), and the remainder (18,939,394 shares) is being offered by the Company. The shares being sold by the Selling Stockholder are beneficially owned by AIG. The Company will not receive any proceeds from the sale of the shares by the Selling Stockholder. 

• The Company intends to use its portion of the net proceeds from the offering, together with cash on hand and proceeds from the sale of investment securities and existing conduit facilities, to fund the previously announced proposed acquisition of OneMain Financial Holdings and/or for general corporate purposes, which may include debt repurchases and repayments, capital expenditures and other possible acquisitions. However, the Company is not required to use the net proceeds from the offering to fund the proposed acquisition of OneMain, and accordingly, the Company will have broad discretion over the use of the net proceeds from the offering. 
• Citigroup, Goldman, Sachs & Co., Barclays and Credit Suisse are acting as joint book-running managers for the offering. 
  

4:30 pm Parsley Energy announces an increase lender commitments under its revolving credit facility to $500 mln (PE) : Commitments equal the Company's $500 million borrowing base, which was reduced by approximately $61 million in the April 1, 2015 redetermination by its bank lending group. 

4:30 pm Apple increases share repurchase authorization to $140 bln from $90 bln; increases quarterly dividend to $0.52/share from $0.47/share (AAPL) : Under the expanded program, Apple plans to utilize a cumulative total of $200 billion of cash by the end of March 2017.

4:28 pm Swift Transportation beats by $0.02, misses on revs (SWFT) : Reports Q1 (Mar) earnings of $0.29 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.27; revenues rose 0.7% year/year to $1.02 bln vs the $1.06 bln consensus.

4:28 pm Freshpet announces a public offering of 5.31 mln shares of common stock by selling stockholders (FRPT) :  

4:27 pm Rent-A-Center beats by $0.02, beats on revs (RCII) : Reports Q1 (Mar) earnings of $0.52 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.50; revenues rose 5.9% year/year to $877.6 mln vs the $855.98 mln consensus. 

• Core U.S. same store sales increased by 1.0 percent, representing a sequential improvement of 160 basis points.
• Rent-A-Center, Inc. provides annual guidance as it relates to same store sales, earnings per diluted share, and other key line items and will only provide updates if there is a material change versus the original guidance.
  

4:25 pm AvalonBay beats by $0.13; guides Q2 FFO above consensus (AVB) : Reports Q1 (Mar) funds from operations of $1.88 per share, $0.13 better than the Capital IQ Consensus Estimate of $1.75.

• At March 31, 2015, the Company did not have any borrowings outstanding under its $1,300,000,000 unsecured credit facility, and had $297,716,000 in unrestricted cash and cash in escrow.
• The Company's annualized Net Debt-to-Adjusted EBITDA for the first quarter of 2015 was 5.9 times
• Co issues upside guidance for Q2, sees FFO of $1.92-1.96 vs. $1.84 Capital IQ Consensus Estimate.
  

4:22 pm Allison Transmission reports Q1 (Mar) results, misses on revs (ALSN) : Reports Q1 (Mar) earnings of $0.38 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.67; revenues rose 2.0% year/year to $503.6 mln vs the $513.01 mln consensus.

• Adjusted Net Income, a non-GAAP financial measure, for the quarter was $150 mln, compared to Adjusted Net Income of $108 mln for the same period in 2014, an increase of $42 mln.
  
• "Our updated full year 2015 guidance includes a year/year net sales decrease in the range of 4 to 8 percent, an Adjusted EBITDA margin in the range of 34.5 to 35.5%, an Adjusted Free Cash Flow in the range of $460 to $510 mln, capital expenditures in the range of $60 to $70 mln, and cash income taxes in the range of $10 to $15 mln."
  
• "Co does expect Q2 net sales to be lower than the same period in 2014. The anticipated year-over-year decrease in Q2 net sales is expected to occur due to higher demand in the global On-Highway end markets being more than offset by lower demand in other end markets."
  

4:20 pm Hartford Financial beats by $0.11, misses on revs (HIG) : Reports Q1 (Mar) earnings of $1.08 per share, $0.11 better than the Capital IQ Consensus Estimate of $0.97; revenues rose 0.1% year/year to $4.62 bln vs the $4.72 bln consensus.

• "The combined ratio was 91.7 before catastrophes and PYD, while Group Benefits after-tax core earnings margin* rose to 5.9%. The marketplace has grown more competitive over the last quarter, and we are very focused on core metrics and key performance indicators as we continue to balance margins and growth".
• Book value per diluted common share was $44.13 as of March 31, 2015, an increase of 3% from Dec. 31, 2014, as a result of the 2% increase in shareholders' equity and the impact of share repurchases on weighted average diluted common shares outstanding. Excluding AOCI, book value per diluted common share was up 2% to $41.47 as of March 31, 2015 compared with $40.71 at Dec. 31, 2014.
  

4:18 pm Barracuda Networks beats by $0.01, reports revs in-line (CUDA) : Reports Q4 (Feb) earnings of $0.07 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.06; revenues rose 19.6% year/year to $72.2 mln vs the $71.7 mln consensus.

• "We closed a strong and exciting year for Barracuda, experiencing continued demand across all major product categories and geographies...We now have more than 243,000 active subscribers, accelerated the growth in multiproduct customers to nearly 35,000, and the number of Barracuda Shops grew 41% to almost 11,000."

4:18 pm C.H. Robinson misses by $0.01, misses on revs (CHRW) : Reports Q1 (Mar) earnings of $0.73 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.74; revenues rose 5.0% year/year to $3.3 bln vs the $3.45 bln consensus.

• Co's truckload net revenue margin increased in Q1 of 2015 compared to Q1 of 2014, due primarily to the lower cost of fuel.
• In North America, excluding the estimated impacts of the change in fuel, its average truckload rate per mile charged to our customers increased ~6% in Q1 of 2015 compared to Q1 of 2014.
• In North America, its truckload transportation costs increased ~6%, excluding the estimated impacts of the change in fuel. These increases were largely the result of market conditions and a change in the mix of its business.
  

4:17 pm Eastman Kodak confirms UniPixel's (UNXL) decision to withdraw from joint activities with Kodak (KODK) : Kodak notes it continues to believe that copper mesh technology for large-size touch screens, together with the silver-halide based touch sensors for phones and tablets that Kodak has been developing separately, will give it a broad offering in the rapidly growing touch screen market.

4:16 pm AmeriGas Partners increases its quarterly distribution to $0.92/unit from $0.88/unit (APU) :  

4:16 pm Wabash Natl beats by $0.03, beats on revs; guides FY15 EPS above consensus (WNC) : Reports Q1 (Mar) earnings of $0.19 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.16; revenues rose 22.2% year/year to $437.6 mln vs the $420.55 mln consensus.

• Co issues upside guidance for FY15, sees EPS of $1.15-1.25 vs. $1.13 Capital IQ Consensus Estimate. Guidance: "we are now increasing our full-year shipment and adjusted earnings guidance to 62,000 to 66,000 trailers."
• "New trailer shipments for the first quarter were ~ 14,350, exceeding our previous guidance of 12,000 to 13,000 trailers as a result of strong customer demand.
• On a same store basis, net sales increased $5 million, or 14.0 percent, compared with the prior year period. 
• Gross profit margin of 11.2 percent declined slightly from 11.8 percent in the prior year period. 

4:16 pm Boston Scientific announces strategic collaboration with Brainlab AG (BSX) : The co. announces a collaboration with Brainlab AG, a leading software-driven medical technology company that helps improve patient treatment planning and surgical navigation. The collaboration provides patients and physicians a comprehensive portfolio for Deep Brain Stimulation therapy. DBS is intended to treat a variety of disorders, and most commonly may help reduce symptoms for movement disorders such as Parkinson's disease, dystonia, and essential tremor. As part of the agreement, Boston Scientific will begin distributing the Brainlab DBS surgical planning portfolio with the Boston Scientific Vercise DBS System in select countries.

4:16 pm Aeterna Zentaris announces that the completion of a prespecified first interim futility analysis, for its Phase 3 ZoptEC study by the Data Safety Monitoring Board (AEZS) : The DSMB has recommended that the Phase 3 study continue as planned. All patients will be followed for survival as the primary efficacy endpoint ("EP"). Secondary EPs include progression-free survival, objective response-rate, and clinical benefit rate.

• At this time, sites initiation has been completed with over 120 sites in operation in North America, Europe and Israel. 
• More than 465 patients out of an expected total of 500 have been recruited. 
• A second interim analysis will be conducted according to protocol at approximately 192 events, with the final analysis planned at an anticipated 384 events.
  

4:15 pm Alexandria RE beats by $0.02, beats on revs; guides FY15 FFO in-line (ARE) : Reports Q1 (Mar) funds from operations of $1.28 per share, $0.02 better than the Capital IQ Consensus Estimate of $1.26; revenues rose 11.7% year/year to $196.8 mln vs the $194.13 mln consensus.

• Net operating income ("NOI"), including our share of unconsolidated joint ventures, of $136.4 million for 1Q15, up $12.7 million, or 10.3%, compared to $123.7 million for 1Q14
• Same property NOI increase of 2.3% and 7.8% (cash basis) for 1Q15, compared to 1Q14
• Co issues in-line guidance for FY15, sees FFO of $5.17-5.27 vs. $5.21 Capital IQ Consensus Estimate.
  

4:13 pm Berkshire Hills Bancorp beats by $0.04 (BHLB) : Co reports Q1 (Mar) core EPS of $0.50, which was $0.04 better than the Capital IQ Consensus of $0.46.

4:12 pm Innophos Holdings misses by $0.10, misses on revs (IPHS) : Reports Q1 (Mar) earnings of $0.55 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.65. This includes an unfavorable $0.09 of translation expense and exchange effects in taxes; revenues fell 6.6% year/year to $202 mln vs the $211.39 mln consensus.

4:11 pm Container Store misses by $0.07, misses on revs; guides Q1 EPS below consensus; guides FY16 below consensus (TCS) :

• Reports Q4 (Feb) earnings of $0.24 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus Estimate of $0.31; revenues rose 3.3% year/year to $224 mln vs the $233.58 mln consensus; comps fell 0.8%.
• Co issues downside guidance for Q1, sees adj. EPS of ($0.19)-(0.11) vs. ($0.05) Capital IQ Consensus Estimate; comps down 3-4%.
• Co issues downside guidance for FY16, sees EPS of $0.37-0.45, excluding non-recurring items, vs. $0.57 Capital IQ Consensus Estimate; sees FY16 revs of $800-815 mln vs. $873.12 mln Capital IQ Consensus Estimate; comps -2% to 0%.
• The Company's outlook assumes that fiscal 2015 will be an investment year with regard to its initiatives and the full financial impact from such initiatives will likely not be realized until fiscal 2016 and beyond.

4:11 pm Closing Market Summary: Stocks Register First Decline in Four Sessions (:WRAPX) : The stock market began the week with a pullback from record levels, but not before setting fresh intraday record highs during the opening minutes of action. The S&P 500 (-0.4%) registered its first decline in four sessions while the Nasdaq Composite (-0.6%) underperformed.

Equity indices displayed modest gains in the early going to follow a relatively quiet weekend. It is worth noting that China's Shanghai Composite soared 3.0% after MNI reported the People's Bank of China is looking into purchasing local government bonds. Meanwhile, European markets began the day under pressure, but finished with solid gains amid optimism that followed reports Greece has reshuffled its negotiating team.

As for U.S. stocks, the S&P 500 held an eight-point gain at the start with cyclical sectors underpinning the early strength; however, biotechnology lagged from the early going and pressured the health care sector (-1.8%) to the bottom of the leaderboard. For its part, the iShares Nasdaq Biotechnology ETF (IBB 348.55, -15.15) lost 4.2% and contributed to the underperformance of the Nasdaq.

Biotechnology weighed on S&P 500 and the Nasdaq while the Dow (-0.2%) was able to end a little ahead since the price-weighted index does not contain any biotech listings. That being said, the largest Dow component by weight-Goldman Sachs (GS 196.52, -1.47)-lost 0.7% while the financial sector (-0.3%) settled a step ahead of the S&P 500.

Similar to financials, four of the remaining five cyclical groups settled ahead of the broader market while the consumer discretionary sector (-0.9%) underperformed. On the flip side, materials (+0.9%) and technology (+0.4%) spent the day in positive territory.

The materials sector enjoyed broad support, including a 4.6% spike in Dow component DuPont (DD 74.81, +3.29) after Institutional Shareholder Services recommended Nelson Peltz for the company's board of directors. Steelmakers and miners also rallied with Market Vectors Gold Miners ETF (GDX 19.76, +0.40) and Market Vectors Steel ETF (SLX 35.79, +0.29) gaining 2.1% and 0.8%, respectively.

Elsewhere, the technology sector (+0.4%) kept the market from sliding deeper into negative territory thanks to solid gains among large cap components. Most notably, Apple (AAPL 132.65, +2.37) climbed 1.8% ahead of its quarterly report while chipmakers held up relatively well with the PHLX Semiconductor Index adding 0.3%. The modest uptick in the chip index masked an 8.4% plunge in the shares of Applied Materials (AMAT 19.97, -1.83) brought on by news that the company terminated its combination agreement with Tokyo Electron due to regulatory concerns.

Treasuries retreated throughout the morning, but reversed course to erase the bulk of their losses. The 10-yr yield ticked up a basis point to 1.92%.

Today's participation was ahead of recent averages with more than 780 million shares changing hands at the NYSE floor.

Tomorrow, the Case-Shiller 20-city Index for February will be reported at 9:00 ET (Briefing.com consensus 4.7%) while the April Consumer Confidence report will cross the wires at 10:00 ET (expected 102.2).

• Nasdaq Composite +6.9% YTD 
• Russell 2000 +4.1% YTD 
• S&P 500 +2.4% YTD 
• Dow Jones Industrial Average +1.2% YTD

4:11 pm SS&C Techs beats by $0.01, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY15 EPS in-line, revs below consensus (SSNC) : Reports Q1 (Mar) adjusted earnings of $0.60 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.59; revenues rose 10.9% year/year to $206.1 mln vs the $207.52 mln consensus.

• SS&C generated net cash from operating activities of $31.2 million for the three months ended March 31, 2015, compared to $38.6 million for the same period in 2014, representing a 19.2 percent decrease.
  
  
• Guidance: Co issues in-line guidance for Q2, sees EPS of $0.62-0.65 vs. $0.64 Capital IQ Consensus Estimate; sees Q2 revs of $209-$215 mln vs. $213.85 mln Capital IQ Consensus Estimate.
  
  Co issues mixed guidance for FY15, sees EPS of $2.55-$2.64 vs. $2.63 Capital IQ Consensus Estimate; sees FY15 revs of $846.0-$862.0 vs. $864.32 mln Capital IQ Consensus Estimate.

4:10 pm Waste Connections reports EPS in-line, revs in-line (WCN) : Reports Q1 (Mar) earnings of $0.46 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.46; revenues rose 5.1% year/year to $506.1 mln vs the $508.93 mln consensus. 

• Adjusted EBITDA in the first quarter of 2015 was $168.3 million, or 33.3% of revenue, compared to $164.1 million in the prior year period. 
• "Over the past few months, estimates for projected 2015 U.S. E&P capex spending decreased another 15%, to down 45%-50% year over year, with a spending rebound anticipated in 2016. This more precipitous decline in drilling activity was evident in our E&P waste operations beginning in late March."
  

4:09 pm Everest Re beats by $1.48, beats on revs (RE) : Reports Q1 (Mar) after-tax operating income of $7.34 per share, excluding non-recurring items, $1.48 better than the Capital IQ Consensus Estimate of $5.86; revenues rose 14.2% year/year to $1.31 bln vs the $1.25 bln consensus.

• Gross written premiums increased 12% to $1.4 billion compared to the first quarter of 2014 with worldwide reinsurance premiums, including the Mt. Logan Re segment, up 4% and insurance premiums up 48%. Given greater utilization of retrocessional capacity, including Mt. Logan, to support the reinsurance segments, the pace of growth for net written premiums is lower.
  

4:09 pm PMC-Sierra beats by $0.01, reports revs in-line (PMCS) : Reports Q1 (Mar) earnings of $0.10 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.09; revenues rose 5.2% year/year to $133.07 mln vs the $133.32 mln consensus.

4:09 pm Cadence Design beats by $0.02, reports revs in-line; guides Q2 EPS in-line, revs in-line; guides FY15 EPS in-line, revs in-line (CDNS) : Reports Q1 (Mar) earnings of $0.23 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 8.7% year/year to $411.4 mln vs the $409.1 mln consensus.

Guidance:

• Co issues in-line guidance for Q2, sees EPS of $0.23-0.25, excluding non-recurring items, vs. $0.24 Capital IQ Consensus Estimate; sees Q2 revs of $410-420 mln vs. $417.46 mln Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, sees EPS of $0.96-1.06, excluding non-recurring items, vs. $1.01 Capital IQ Consensus Estimate; sees FY15 revs of $1.68-1.72 bln vs. $1.7 bln Capital IQ Consensus Estimate.

4:09 pm Danaos beats by $0.07, beats on revs (DAC) : Reports Q1 (Mar) earnings of $0.28 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 2.3% year/year to $138.61 mln vs the $136.6 mln consensus.  

"The container charter market saw a significant increase in panamax rates during the first quarter of 2015 due to increased demand resulting from port congestion in the US West Coast and the continued shrinkage of the world panamax fleet. The delay in the opening of the new Panama canal will further help to absorb panamax tonnage in the short term, while delays caused by port congestion in the US West Coast have resulted in increased demand in the Asia to US East Coast all water service. These factors have positively affected TEU mile demand in the industry."

4:09 pm Amkor beats by $0.02, reports revs in-line; guides Q2 EPS below consensus, revs below consensus (AMKR) : Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 6.7% year/year to $742.88 mln vs the $745.1 mln consensus.

• Gross margin 18.2% vs 18.5% in prior year
• Cash and cash equivalents were $494 million, and total debt was $1.5 billion, at March 31, 2015.
  

Co issues downside guidance for Q2, sees EPS of $0.05-0.15 vs. $0.19 Capital IQ Consensus Estimate; sees Q2 revs of $725-775 mln vs. $801.43 mln Capital IQ Consensus Estimate. Co sees Q2 gross margin of 16-19%.

• "We expect demand will strengthen in the second half of 2015 driven by the launch of flagship mobile devices with high Amkor content. Our full year 2015 capital expenditure estimate of around $600 million, including around $150 million of spending for our new K5 facility, remains unchanged."
  

4:08 pm American Capital Agency reports Q1 (Mar) results (AGNC) : Reports Q1 (Mar) earnings of $0.46 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.74.

• 0.46 comprehensive income per common share, comprised of: $(0.73) net loss per common share $1.19 other comprehensive income per common share Includes net unrealized gains on investments marked-to-market through OCI
• $25.53 net book value per common share as of March 31, 2015 Decreased $(0.21) per common share, or -0.8%, from $25.74 per common share as of December 31, 2014 
• $66.2 billion agency MBS investment portfolio as of March 31, 2015.
• 6.4x "at risk" leverage as of March 31, 2015 5.8x leverage excluding net long TBA mortgage position as of March 31, 2015
• 8.4% portfolio CPR for the quarter 9.8% average projected portfolio life CPR as of March 31, 2015 1.53% annualized net interest rate spread for the quarter, including TBA dollar roll income.

Dividend

• Co announced today that its Board of Directors has declared a cash dividend of $0.20 per share of common stock for May 2015. The dividend is payable on June 5, 2015 to common stockholders of record as of May 29, 2015, with an ex-dividend date of May 27, 2015. The Company intends to disclose its April 30, 2015 estimated net book value per common share in mid-May.

4:07 pm Autobytel announces that Auto Holdings has acquired the $5 mln convertible subordinated promissory note and the warrant to purchase 400k shares of Autobytel common stock issued by Autobytel in September 2010 (ABTL) : Auto Holdings is affiliated with the majority owners of AutoWeb, Inc. ("AutoWeb"), and their affiliated PeopleFund, and Ceiba International Corp.

• Concurrent with the acquisition of the Cyber convertible note and warrant, Auto Holdings converted the entire note and fully exercised the warrant at its conversion price of $4.65 per share.  Upon conversion of the note, Autobytel issued 1,075,268 shares of its common stock and upon exercise of the warrant, it issued an additional 400,000 shares of its common stock.  As a result of the conversion and exercise, Auto Holdings owns approximately 14.25%of Autobytel's current issued and outstanding shares.
• Autobytel received approximately $1.9 million in cash as a result of the exercise of the warrant.  The Company also removed the liability from the balance sheet related to the note and increased equity related to the note and receipt of cash from exercise of the warrant. 

4:07 pm Rudolph Tech beats by $0.06, beats on revs (RTEC) : Reports Q1 (Mar) earnings of $0.17 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.11; revenues rose 26.3% year/year to $52.6 mln vs the $48.77 mln consensus.

4:07 pm Zogenix appointed Stephen Farr, Ph.D as new CEO, effective immediately (ZGNX) : The co. announced today that it is implementing its succession plan as the Company focuses on advancing its late-stage product development pipeline. Zogenix's Board of Directors has unanimously appointed Stephen Farr, Ph.D., previously serving as the Company's President, as Roger Hawley's successor and new CEO of Zogenix effective immediately. Hawley will remain active in the Company during the transition and will continue to be a member of Zogenix's Board of Directors in addition to pursuing investment and consulting opportunities in the life sciences industry. Farr will also continue to serve as the Company's President. Hawley and Farr co-founded Zogenix in August 2006.

4:07 pm General Growth reports FFO in-line, misses on revs; guides Q2 FFO below consensus; lowers FY15 FFO below consensus (GGP) : Reports Q1 (Mar) funds from operations of $0.32 per share, in-line with the Capital IQ Consensus Estimate of $0.32; revenues fell 4.6% year/year to $594.1 mln vs the $643.77 mln consensus.

• Co issues downside guidance for Q2, sees FFO of $0.30-0.32 vs. $0.33 Capital IQ Consensus Estimate. 
• Co issues lowered guidance for FY15, lowers FFO to $1.31-1.37 from $1.35-1.41 vs. $1.42 Capital IQ Consensus Estimate. 
• Comparable net operating income increased 3.3% to $543 million from $525 million in the prior year period.
  

4:06 pm Plum Creek beats by $0.02, beats on revs; guides Q2 EPS below consensus; reaffirms FY15 EPS guidance (PCL) :

• Reports Q1 (Mar) earnings of $0.24 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.22; revenues rose 28.1% year/year to $406 mln vs the $398.59 mln consensus. 
  
• Co issues downside guidance for Q2, sees EPS of $0.05-0.10 vs. $0.21 Capital IQ Consensus Estimate. 
  
• Co reaffirms guidance for FY15, sees EPS of $1.05-1.30 vs. $1.16 Capital IQ Consensus Estimate. 
  
• "We've started 2015 with good performance from our timber, manufacturing and energy and natural resource businesses. As expected, our second quarter results will be the lowest of the year due to the normal seasonal reduction in our Northern Resources segment harvest and the timing of our planned real estate transactions. We continue to expect full-year earnings per share will fall within our original guidance."
  

4:06 pm Brixmor Property misses by $0.02, reports revs in-line; guides FY15 FFO in-line; Achieves same property NOI growth of 3.4% (BRX) : Reports Q1 (Mar) funds from operations of $0.46 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.48; revenues rose 2.5% year/year to $315.3 mln vs the $314.02 mln consensus.

• Co issues in-line guidance for FY15, sees FFO of $1.94-2.00 vs. $1.97 Capital IQ Consensus Estimate.
  

4:06 pm Luminex provides updates on ARIES clinical trials; Clinical trials initiated for ARIES clostridium difficile assay (LMNX) :

• "We are very pleased with the progress we are making on the ARIES launch schedule. The system has met all of our expectations during the clinical trials phase for the initial launch assay, allowing us to rapidly complete the testing at the trial sites for the HSV 1&2 Assay," said Homi Shamir, President and CEO of Luminex.
• Luminex expects its FDA submission for the ARIES platform and ARIES HSV 1&2 Assay to occur in the summer of 2015.
  

4:05 pm VASCO Data Security announces time change for First Quarter 2015 Earnings Conference Call on April 28, 2015 (VDSI) :

• Co has changed the start time of its first quarter 2015 earnings conference call to 8:30am EDT / 14:30 CET, on April 28, 2015. 
• The updated conference call start time is one and a half hours earlier than the originally scheduled 10:00 am EDT / 16:00 CET.
  

4:05 pm Morgan Stanley announces the redemption of $862.5 mln by Morgan Stanley Capital Trust VI and $1.1 bln by Morgan Stanley Capital Trust VII, of their 6.60% Capital Securities (MS) : For Morgan Stanley Capital Trust VI, the redemption price will be equal to the $25 liquidation amount per Capital Trust VI Capital Security plus $0.119167 accumulated but unpaid distributions. For Morgan Stanley Capital Trust VII, the redemption price will be equal to the $25 liquidation amount per Capital Trust VII Capital Security plus $0.123750 accumulated but unpaid distributions

4:05 pm W.R. Berkley beats by $0.06, reports revs in-line (WRB) : Reports Q1 (Mar) earnings of $0.80 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 2.2% year/year to $1.74 bln vs the $1.76 bln consensus.

• Domestic net premiums written grew 6% inclusive of average rate increases of 3.2%.
  
• Net realized investment gains were $19 million.
  
• GAAP combined ratio was 93.9%.
  

4:03 pm Merchants Bancsh. will acquire NUVO Bank & Trust Company for approximately $21.8 million in stock and cash, representing $7.15 per Nuvo share (MBVT) : At December 31, 2014, NUVO reported approximately $153 million in assets, $139 million in loans and $134 million in deposits. Under the terms of the agreement, shareholders of NUVO will be entitled to elect to receive either 0.2416 shares of Merchants common stock or $7.15 in cash for each share of NUVO common stock outstanding, subject to total consideration being comprised of approximately 75% stock and 25% cash.

• Holders of NUVO common stock options will receive a cash payment for the difference between $7.15 and the exercise price of the option. 
• Merchants expects the transaction to be accretive to its earnings in the first full year of combined operations.
  

4:02 pm Overstock.com misses by $0.09, beats on revs (OSTK) : Reports Q1 (Mar) earnings of $0.11 per share, $0.09 worse than the Capital IQ Consensus Estimate of $0.20; revenues rose 16.7% year/year to $398.3 mln vs the $386.7 mln consensus.  Gross margin was 18.94% vs. 18.76% in year-ago period (18 basis point increase).

• The growth in revenue was primarily due to a 12% increase in orders, coupled with a 5% increase in average order size, from $165 to $174. In addition, the percentage of revenue we defer from orders taken but not delivered was less due to the timing of quarter end.
  

4:02 pm GW Pharma announces proposed public offering of 1.25 mln ADS shares; price not disclosed (GWPH) :  

4:02 pm American Campus Communities beats by $0.01, reports revs in-line; reaffirms FY15 FFO guidance (ACC) : Reports Q1 (Mar) funds from operations of $0.67 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.66; revenues rose 5.1% year/year to $192.5 mln vs the $191.76 mln consensus.

• Co reaffirms guidance for FY15, sees FFO of $2.30-2.42 vs. $2.39 Capital IQ Consensus Estimate.
  

4:02 pm Getty Realty Corp. announces the receipt of $7.4 mln in payments from the Getty Petroleum Marketing Liquidating Trust (GTY) : On March 3, 2015, the Company entered into a settlement agreement with the Liquidating Trustee of the Marketing Estate to resolve claims asserted by the Company in Marketing's bankruptcy case. The Company received an interim distribution from the Marketing Estate of $6.8 million on account of the Company's general unsecured claims.

• Co expects to receive additional distributions from the Marketing Estate during 2015 on account of its general unsecured claims, however, the Company cannot provide any assurance as to the timing or the total amount of such future distributions. 
• Co also received an additional distribution of approximately $0.6 million from the Marketing Estate in full resolution of the funding agreement dispute.

4:02 pm Paratek Pharma announces proposed public offering of $60 mln of its common stock (PRTK) :

• Co intends to use the net proceeds from the offering to fund ongoing and planned clinical trials of omadacycline, to fund research and development to advance its pipeline of preclinical product candidates, and for working capital and other general corporate purposes.
  

4:01 pm MasterCard announces acquisition of Applied Predictive Technologies for $600 mln (MA) : Applied Predictive Technologies is a cloud-based analytics provider. APT's Test & Learn platform helps companies tailor investments and maximize bottom-line impact by harnessing analytics to design, measure and calibrate marketing, merchandising, operations and capital initiatives.

4:01 pm J&J Snack Foods beats by $0.04, beats on revs (JJSF) : Reports Q2 (Mar) earnings of $0.78 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 9.6% year/year to $225 mln vs the $217.49 mln consensus. 

• "Our sales and earnings improvement this quarter was driven by an outstanding performance by our ICEE business. Although the sales increase in our food service segment was satisfactory, we are disappointed with the decrease in operating income in this part of our business."
  

4:01 pm Heartland Finl beats by $0.18 (HTLF) : Reports Q1 (Mar) earnings of $0.76 per share, $0.18 better than the Capital IQ Consensus Estimate of $0.58. 

• Return on average common equity of 13.58% 
• Return on average tangible common equity of 15.67% 
• Net interest margin of 3.90%
  

4:01 pm FCB Financial announces stock repurchase program for up to $30 mln of class a common stock (FCB) :  

3:36 pm Sotherly Hotels increases quarterly dividend to $0.075/share from $0.07/share (SOHO) :  

3:35 pm Treasury Market Summary (BONDX) : Treasuries End Mixed

• The Treasury complex traded lower in a curve-flattering trade during a data-free trading session. The small end-of-day changes obscure significant movement within the ranges. An auction, improved hopes for Greece, and an equity sell-off were the main catalysts
• Yield check:
• 2-yr: +2 bps to 0.52%
• 5-yr: +2 bps to 1.34%
• 10-yr: +1 bp to 1.92%
• 30-yr: unch at 2.61%

• News:
• The dominant theme of the day was Greek PM Alexis Tsipras's decision to modify his team that negotiates with the Brussels Group (the creditors)
• The team will now be led by junior foreign minister Euclid Tsakalotos who, like Yanis Varoufakis, is a trained economist. Tsakalotos is said to be a close ally of Tsipras's 
• Finance Minister Yanis Varoufakis will now merely supervise the team
• The shakeup sent Greek 10-year yields down 99 basis points to 11.56%
• While some experts say that this doesn't change the fundamental picture in Greece, the markets are saying otherwise
• The $26 billion 2-year note auction was met with lackluster demand, as the auction tailed 0.1 basis point
• Auction results:
• High yield: 0.54%
• Bid-to-cover: 3.30 (12-auction average of 3.42)
• Indirect bid: 38.1% (12-auction average of 35.32%)
• Direct Bid: 14.6% (12-auction average of 16.44%)
• The S&P 500 pulled back from a record high, losing 0.38% to 2,109.55

• Commodities:
• Gold rallied 2.36% to $1,202.70/troy oz.
• WTI Crude fell 0.51% to $56.86/bbl
• Copper rallied 0.71% to $2.7675/lb.

• Currencies:
• EUR/USD: +0.12% to $1.0888
• USD/JPY: +0.13% to 119.10

• Data Out Tuesday: 
• February Case-Shiller 20-City Index (09:00 ET)
• April Consumer Confidence (10:00 ET)
• New Supply:
• $35 billion 5-year note auction (results at 13:00 ET)

3:34 pm Medtronic has reached agreement on the terms of a consent decree with the FDA specific to its SynchroMed drug infusion system and the Neuromodulation quality system (MDT) : The agreement is subject to approval by the U.S. District Court for the District of Minnesota. Medtronic will be contacting physicians to ensure they have information about the agreement and the steps the company will be taking to continue to provide access to the SynchroMed drug infusion system. The agreement between the FDA and Medtronic imposes certain restrictions on the company and outlines the steps it must take to address the FDA's expectations. The agreement does not require the retrieval of any Medtronic products. With this announcement there is no new information to share about the safety and performance of the SynchroMed drug infusion system.

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

• CUDA, TCS, CR, HMST, HTLF, JJSF, NBTB, PCL, SIMO, AAPL, AVB, GGP, SWFT, BXP, OSTK, PMCS, AFG, AGNC, ARE, HIG, RCII, RTEC, UDR, CHRW, JLL, WNC, WRB, CDNS, PRE, RE, CTS, OLN, ALSN, AMKR, BRX, CMP, DAC, GIG, WCN, SSNC, MSA, ACC, IPHS, OMI, ABX, HT, MDCA, SSW, QTS, CHDN, UHS

Tomorrow before the open look for the following companies to report:

• SVU, XRS, FBC, AUDC, PHG, PROV, WAT, AKS, AMG, BMY, CIT, FMER, GLW, IIVI, LXK, OSK, PFE, PH, UMBF, FCF, JEC, TXT, ALLY, AUO, COH, F, JBLU, LRN, UBSI, VLO, CNX, HMC, IDXX, BP, FLWS, AET, AGCO, AXE, CARB, CBR, CNC, NOV, SC, ST, TWIN, UPS, WDR, BSX, MRK, WHR, CMI, ETR, GPI, SIRI, MAS, ENTG, FSRV, OFC, WYN, GAS, PAG, CPLA, HSP, MHFI, NCI, POR, VDSI, CRY, FDP, WWW, CIR, DORM, IPI, SIR, YNDX, TMUS, IPGP, AIXG, CTG, ECL, FELE, HSII, NEO, STCK, UTHR, ICLR, MRGE, TRS, MDXG, SERV, CAS, DFRG, SALT

3:18 pm Nasdaq 100/Comp and S&P -8 set new session lows -- Dow -35 is approaching its midday low (:TECHX) :  

2:45 pm Minor new session lows for Nasdaq Comp -28 and S&P -5.3 -- Dow -16 remains above its midday low (:TECHX) :  

2:44 pm Currency Market Summary (FOREX) : Dollar Hits 4-Week Low

• The U.S. Dollar Index fell 0.16% today to 96.76 on optimism in the Greece/Brussels Group negotiations and general profit-taking due to some technical deterioration in what has been a very long and strong bull run in the greenback
• EUR/USD rallied 0.08% to $1.0883 after Greek Prime Minister Alexis Tsipras rejiggered Greece's negotiating team and put Finance Minister Yanis Varoufakis in a supervisory role
• During Friday's negotiations, a fair number of personal comments regarding the finance minister had been reported in the media and perhaps this forced Tsipras to reevaluate the situation
• USD/JPY rallied 0.10% to 119.08
• Overnight, Fitch downgraded Japan by one notch to A with a stable outlook
• The downgrade was attributed to Japan's failure to offset a delay in a sales tax hike with savings elsewhere in the budget
• The commodity currencies rallied along with metals prices
• AUD/USD: +0.47% to $0.7861
• NZD/USD: +0.58% to $0.7652
• USD/CAD: -0.80% to 1.2087
• The British pound rose along with the relief rally in Greece and the eurozone
• GBP/USD: +0.32% to $1.5235

2:17 pm Verizon confirmed CBS Sports Network to join Verizon FiOS custom TV lineup (VZ) :  

2:15 pm Retractable Technologies announces a final judgement amendment in its litigation with Becton, Dickinson and Company (BDX) (RVP) : The Amended Final Judgment states that BD attempted to monopolize the safety syringe market and committed false advertising under the Lanham Act. Additionally, RTI recovers from BD $340.52 mln - in addition to its attorneys' fees in the amount of $11.72 mln.  

2:00 pm Index Changes Reminder: Dunkin' Brands (DNKN) will replace Riverbed Technology (RVBD) in the S&P MidCap 400 after the close of trading (:INDXCH) :  

1:37 pm Floor Talk (:TALKX) : The stock market's peppy start has run into some resistance -- technical and otherwise -- that has dropped the major indices into red figures for the day.

• Following the record close for the S&P 500 on Friday, a near-term extension target zone came into play at 2124/2126.  The high this morning, reached around 10:00 a.m. ET, was 2125.92. 
• The closely-followed, and widely-traded, biotech group has gotten hit with selling interest that has the iShares Nasdaq Biotechnology ETF (IBB 350.40, -13.30, -3.7%) sitting just on top of its 50-day simple moving average (now 347.76), which has been a mainstay of support since the end of December
• With the run to record closing highs for the Nasdaq and S&P 500 on relatively weak fundamental drivers (i.e. weak economic and earnings data), some profit taking has kicked in on the notion the market has gotten ahead of itself
• With everyone looking to Apple (AAPL 132.56, +2.28, +1.8%) and the Fed to provide more good news this week, a sense that the good news has already been priced in has fostered some profit-taking interest
• A look at seasonals perhaps creating some pause in the bulls, as the May-October period has a history of being a weak period for the stock market (not always but enough past years of weakness to lead to some selling after the big run of late)

The health care sector (-1.3%) is the worst-performing area in the S&P 500 today while the Russell 2000 (-1.3%) is the weakest among the major averages. 

1:20 pm Small-/mid-caps and Nasdaq Comp -26 set new session lows -- Dow -27, S&P -5.4 (:TECHX) :  

1:18 pm Auction Out (BONDX) : Auction Results

• The $26 billion 2-year note auction was met with modest demand. The Treasury rally underway in sympathy with equity selling is not taking a breather. The 2-year note yield has bumped up 1 basis point
• Results:
• High yield: 0.54%
• Bid-to-cover: 3.30%
• Indirect bid: 38.1%
• Direct Bid: 14.6%
• Prior 12-auction averages:
• High yield: 0.535%
• Bid-to-cover: 3.42
• Indirect bid: 35.32%
• Direct bid: 16.44%

1:15 pm DuPont comments on ISS report that recommends shareholders vote for Trian's board nominees: 'we strongly believe ISS reached the wrong conclusion in failing to recommend shareholders vote for the White proxy card' (DD) : Co stated: "We strongly believe ISS reached the wrong conclusion in failing to recommend that shareholders vote on the WHITE proxy card FOR all 12 of DuPont's highly-qualified and experienced director nominees by ignoring the success of our transformative strategy and the value-destructive nature of Trian's break up agenda, as well as dismissing the fact that the addition of Trian's nominees would remove critical experience from DuPont's Board. Please vote for all 12 of DuPont's highly qualified directors on the White  proxy card today."

1:11 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

• TSLA (234.18 +7.21%): Shares outperforming following positive note from Deutsche Bank ahead of Tesla's anticipated April 30 at home battery announcement.
• ABX (13.15 +4.99%): Miners outperforming amid strength in gold futures, with the precious metal jumping $29 on the day to $1204/ozt (NEM & GG also higher); ABX is scheduled to report after the close as well.
• DD (74.9 +4.73%): Shares catching a bid after proxy advisory firm ISS recommended DuPont shareholders vote for two of activist investor Trian's director nominees.

Large Cap Losers

• AMAT (20.2 -7.34%): Announced that it and Tokyo Electron (TOELY) agreed to terminate business combination agreement; announced $3 bln share repurchase authorization.
• MYL (72.33 -4.9%): Formally rejected the unsolicited expression of interest from Teva Pharmaceutical (TEVA) to acquire Mylan.
• INCY (101.62 -5.33%): Strong sector weakness in health care names (VRTX, EW, MNK, TEVA, also lower).

Mid Cap Gainers

• KOS (9.99 +14.96%): Provided an update on the Ghana and Cte d'Ivoire Maritime Boundary arbitration.
• HME (74.29 +7.81%): Strong following speculation the company may get taken private.
• IGTE (47.44 +3.46%): To be acquired by Capgemini (CGEMY) for $48 per share.

Mid Cap Losers

• AKRX (43.67 -20.94%): Announced it will restate various previously issued financial statements due to errors identified during the first quarter 2015 financial review process; affirmed its 2015 EPS guidance.
• MCY (54.94 -5.77%): Reported Q1 (Mar) operating earnings of $0.59 per share, excluding non-recurring items, $0.14 worse than the Capital IQ Consensus Estimate of $0.73; revenues rose 2.2% year/year to $740.5 mln vs the $758.93 mln consensus.
• HAE (41.45 -4.38%): Missed Q4 consensus EPS estimates by $0.05, missed on revs; guided FY16 EPS below consensus, revs in-line.

1:05 pm DuPont: Trian shareholder group announces that the proxy advisory firm ISS, recommends other shareholders vote for its Gold proxy card at co's upcoming annual meeting (DD) : Trian stated: "We are deeply gratified that ISS supports our efforts to hold the Board accountable for DuPont's consistent underperformance. ISS's voting recommendation underscores our view that increased oversight is needed in the DuPont boardroom to improve performance and increase stockholder value. We urge stockholders to vote the GOLD proxy card today to elect all four of Trian's nominees."

12:56 pm Midday Market Summary: Biotechnology Weighs (:WRAPX) : The major averages hover near their lows at midday after spending the first half of the day in a steady slide from their early highs. The S&P 500 is lower by 0.3% while the Nasdaq Composite (-0.5%) underperforms.

Equity indices began the day with modest gains with most cyclical sectors overshadowing weakness among countercyclical groups. However, persistent selling pressure in the biotechnology group has sent the heavily-weighted health care sector (-1.4%) to the bottom of the leaderboard. In turn, the iShares Nasdaq Biotechnology ETF (IBB 350.28, -13.42) trades lower by 3.7%, which has contributed to the underperformance of the Nasdaq.

However, the Nasdaq has been limited to a relatively small decline despite the sharp losses among biotech names. That is mostly due to a 1.8% gain in the shares of Apple (AAPL 132.65, +2.37) with the company scheduled to report its results after today's closing bell. Meanwhile, the technology sector (+0.3%) trades only behind the materials space (+1.0%).

Elsewhere among cyclical groups, financials (+0.1%) and industrials (+0.1%) hold modest gains while consumer discretionary (-0.3%) and energy (-0.2%) hover below their flat lines.

Interestingly, the industrial sector has held a modest gain thanks to large cap names like General Electric (GE 26.88, +0.08) and Caterpillar (CAT 85.52, +0.92) while transport stocks lag with the Dow Jones Transportation Average lower by 0.7%.

Treasuries hold modest losses with the 10-yr yield higher by two basis points at 1.93%. On a related note, the Dollar Index (96.49, -0.44) held a slim gain during morning action, but is now on track for its third consecutive loss.

12:47 pm Another new pullback low for the S&P-4.2 (:TECHX) : The midday downside extension has brought first level support from The Technical Take into play at 2112/2110 (session low 2112.87). 

12:13 pm Backtracking off early highs continues -- Nasdaq Comp -12, S&P -0.9, Dow +20 (:TECHX) :  

12:00 pm Air Products signs product supply agreement with Big River Steel (APD) : Under the terms of the agreement, Air Products will operate an air separation unit producing multiple industrial gases and a PRISM hydrogen generator. The onstream target for all the units is July 2016.

11:58 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (215) outpacing new lows (30) (:SCANX) : Stocks that traded to 52 week highs: AAXJ, ACH, ACWI, ADRA, ADUS, AEC, AFSI, AFT, AGEN, AKAM, ALG, ALSK, AMG, AMOT, AOS, APB, APTS, ARMH, ASMI, ASPX, ASR, AVOL, AXJS, AYR, B, BANR, BLKB, BLMT, BONA, BOOT, BSX, CACC, CAF, CAH, CARZ, CBS.A, CCC, CFNL, CHL, CHT, CHU, CHXF, CII, CISG, CIZ, CJJD, CLRO, CMT, CNC, COLM, COWN, CRI, CSFL, CYN, CYNO, DDC, DEPO, DG, DGRW, DIS, DOVR, DOX, DPLO, DRA, DTSI, DVA, DXPS, EA, EBS, EEMA, ELSE, ENI, EOS, ESCA, EVI, FCHI, FLT, FMS, FWP, GNE, GSBC, GSH, GWPH, HASI, HILL, HME, HOFT, HRC, HSKA, IGTE, IMAX, IMH, INAP, INCR, INFA, ING, INGN, IPKW, ISBC, ISLE, ITG, JAZZ, JD, JFC, JNPR, JOF, KFX, KMG, KWEB, LAD, LAMR, LGND, LHCG, LMAT, LO, LXU, LYTS, MACK, MASI, MATX, MCO, MDSO, MIFI, MMSI, MMU, MNST, MSCI, NAN, NJ, NOAH, NRZ, NTES, NVEE, NVO, NXST, NXTM, OMAM, ONEQ, OSHC, PANW, PENN, PETS, PFBC, PFSW, PGTI, PKI, PKT, PLAY, PLT, PLXS, PMD, PNQI, PNRA, PSCH, PSG, PZZA, QLGC, QLYS, QQQ, QQQC, QQXT, RARE, RAX, RDI, RIGL, ROP, RWC, SEIC, SFBS, SFG, SHAK, SHEN, SHI, SIAL, SKX, SKYY, SMFG, SMMF, SNA, SOCL, SOHU, STNG, STON, STRZA, SYBT, SYKE, SYMX, THRM, TQQQ, TREE, TRQ, TSM, TTHI, TTMI, TYL, UFI, UFPI, USCR, USNA, VASC, VIAS, VIPS, VNQI, VONE, VONG, VRX, WBKC, WGP, WOOF, WPPGY, WUBA, WWW, XRM, YUM, ZTS

Stocks that traded to 52 week lows: ADAT, AERI, ASEI, BAGR, BRT, CBAY, CLDN, CRD.A, CRDC, DDD, ELTK, EMMS, ESBK, ESIO, FNJN, FORD, FTK, HELI, IKAN, IVAC, LIQD, NLST, OFG, PERF, PESI, PRTS, RLOC, SQQQ, SSYS, WIN

ETFs that traded to 52 week highs: EWJ, EWN, EWT, FDN, FXI, GXC, HAO, IGN, IGV, IWC, IWF, PPH, QQQ, SKYY, SOCL, TAO, VTI, XLY

ETFs that traded to 52 week lows: EGPT, UNG, VXX

11:56 am New session lows for Nasdaq Comp -1.6 and small-caps -- Dow +33, S&P +1 (:TECHX) :  

11:55 am European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

• UK's FTSE:+0.5%
• Germany's DAX:+1.9%
• France's CAC:+1.3%
• Spain's IBEX:+1.2%
• Portugal's PSI:+1.6%
• Italy's MIB Index:+1.6%
• Irish Ovrl Index:+0.8%
• Greece ASE General Index: +4.4%

11:39 am Treasury Auction Preview (BONDX) : $26 Billion 2-Year Note Auction

• Prior Auction:
• High yield: 0.598%
• Bid-to-cover: 3.46
• Indirect bid: 45.7%
• Direct bid: 18.3%

• Prior 12-Auction Averages:
• High yield: 0.535%
• Bid-to-cover: 3.42
• Indirect bid: 35.32%
• Direct bid: 16.44%

11:22 am Currency Commentary: DXY Slips Below 100-sma (:SUMRX) :

• The Dollar Index has slipped back into the 96 area for the first time since April 6. The DXY has been unable to move back above its 100 sma (97.28) for the moment. It tested the level earlier this morning but failed to breach it and has now slipped back 37 pips. The 100 sma should remain in play in the upcoming sessions with the market awaiting Wednesday's FOMC meeting. 
• The euro has been able continues to hold in the 1.08 level. Fears of a Greek exit were soothed as the weekend reports were that Greece was pulling back the combative Varoufakis and putting in a new team to negotiate with EU Officials. In addition there was a report out that some EU Finance Ministers did not event want to breach the subject of a 'Plan B' for a Grexit. 
• The pound is continuing its strong run as it extends to 1.5243, its best level since March 6. Sterling is now up 4.5% since April 13 as markets continue to digest the hawkish BoE minutes from last week.
• The yen continues to trade in a tight range as it probes key resistance levels. The 20-sma (119.60), 50-sma (119.93), and 100-sma (119.25) are all in a tight range. The last time we saw this was back in August when the yen was trading around 102-103. This would eventually lead to a an aggressive sell off in yen that saw it decline 20% over the next four months. This will have investors closely watching moves in the currency. The Bank of Japan will be meeting Wednesday night but there is not much expected from the meeting (BONDX, FOREX).
  

11:15 am Kroger announces a license and service arrangement with dunnhumbyUSA, to replace the companies' joint venture (KR) : Under the new arrangements dunnhumby Ltd and Kroger will replace their existing exclusive joint venture with a new long-term license and service agreement and the acquisition of certain assets from dunnhumbyUSA by Kroger. A new business called 84.51 will operate with those assets as its foundation.

• dunnhumby Ltd will continue to operate in the U.S. as dunnhumby and under the new arrangements, Kroger will retain dunnhumby Ltd's technology. More than 500 of dunnhumbyUSA's employees will become associates of 84.51, a wholly-owned subsidiary of The Kroger Co. 
• Where previously Kroger was restricted to working with dunnhumby only, the new non-exclusive arrangement now makes available to 84.51 the use of tools from other companies to analyze its data. Financial terms of the new arrangements were not disclosed. The new business will commence operations on April 27, 2015
  

11:03 am Medtronic announces it recently began a clinical study to evaluate the safety and effectiveness of the Endurant Evo AAA stent graft system (MDT) : The Endurant Evo AAA stent graft system is an investigational medical device designed to expand the applicability of a minimally invasive alternative to open surgical repair for the treatment of abdominal aortic aneurysms. Clinical evidence from the study will be used to seek regulatory approvals required to commercialize the Endurant Evo AAA stent graft system in the United States and other markets around the world.

11:02 am INTL FCStone subsidiary INTL FCStone Markets announces that it is now able to offer clients OTC FX trading capability on 75 currency pairs (INTL) :  

11:02 am Altera: TIG Advisors urges shareholders to vote against lead independent Director T. Michael Nevens (ALTR) : TIG Advisors, a stockholder of Altera (ALTR), called on fellow stockholders to join TIG Advisors in voting "AGAINST" Altera's Lead Independent Director T. Michael Nevens at the upcoming annual meeting of stockholders scheduled to be held on Monday, May 11, 2015.  TIG Advisors is taking this action in light of the Altera Board of Directors' failure to constructively engage with Intel Corporation (INTC) on a sale of Altera to Intel. TIG Advisors believes that if the holders of a significant percentage of the Company's outstanding shares vote "AGAINST" Mr. Nevens, it will send a strong signal to the Board to immediately re-engage with Intel regarding its mutually-beneficial strategic acquisition offer without delay.

10:58 am Towers Watson acquires Saville Consulting, an international psychometric assessment business, for GBP 42 mln (TW) : Saville Consulting's revenues for its financial year ending December 2015 are expected to be in excess of 10 million. This transaction does not change Towers Watson's financial expectations for the fiscal year 2015.

10:53 am S&P +3.4 and Nasdaq Comp +12 extend slip off morning highs -- Dow +42 (:TECHX) :  

10:50 am Synnex announces it has signed a distribution agreement with Spectrum Business, the commercial business division of Charter Communications (CHTR) (SNX) : Co announced that it has signed a distribution agreement with Spectrum Business (formerly Charter Business), the commercial business division of Charter Communications (CHTR), to offer its high-speed cable-based internet and voice products to resellers and telecom agents buying through the IT channel. 

10:37 am Mylan Labs: Teva (TEVA) reiterates its commitment to its proposed combination with Mylan, believes the combination more attractive for Mylan stockholders than any other alternative (MYL) :  "While we are disappointed that Mylan has formally rejected our proposal, the Teva Board and management team are fully committed to completing the combination of Teva and Mylan, and we stand ready to quickly complete a transaction that is compelling for both Teva and Mylan stockholders. We are eager to work with Mylan and its advisors to complete a transaction that will allow us to deliver the value inherent in the proposed combination to our respective stockholders, employees, patients, customers, communities and other stakeholders."

• Teva states it is prepared to devote all necessary resources to completing the proposed transaction. 
• Teva also notes it has already filed for premerger notification under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, has begun the pre-notification process with the European Commissionand believes any regulatory requirements necessary to complete a combination with Mylan will be met in a timely manner. Teva has carefully studied the regulatory aspects of a combination of Teva and Mylan, in conjunction with its advisors. Teva is confident that it would be able to structure a transaction that would not contain material impediments to closing and that it can determine and promptly implement divestitures, as necessary, to gain regulatory clearances. Teva intends to work cooperatively with antitrust authorities and expects that the proposed transaction can be completed by year-end 2015.
  

10:36 am Relative sector performance (:TECHX) : Sector displaying relative weakness in recent trade include: Biotech IBB, Health XLV, Medical Supplies, Utility XLU, Restaurant. Relative sector strength has been noted in Semi SMH, Internet FDN, Oil Service OIH, Technology XLK, Rail, Gold Miners GDX, Gold GLD, Silver SLV, Steel SLX.

10:14 am Apple flirts with all time close / intraday highs in front of earnings (AAPL) : The gap higher start was extended as high as 133.13 this morning bringing its all time close / intraday highs into play at 133.00/133.60.  The stock is due to report after the close today. 

10:08 am Forward Pharma A/S announces decision from the European Patent Office to grant its patent application, covering the treatment of MS with 480 mg per day of Dimethyl Fumarate (FWP) : Co expects that the patent will provide protection until October 2025

10:03 am New session highs for S&P +7.6 and Nasdaq Comp +26 -- Dow +73 still hovering under its opening high (:TECHX) :  

9:57 am Relative sector strength (:TECHX) : Sectors that have outperformed thus far this morning include: Steel SLX, Silver SLV, Gold Miners GDX, Semi SMH/XSD, Auto, Mining XME, Copper JJC, Oil Service OIH, Internet FDN.

9:51 am S&P +3.8 slips back slightly after testing first level resistance (:TECHX) : Noted resistance in The Technical Take at short term extension targets for the S&P at 2124/2126. The Index reached 2125 off the open and paused but pressure has remained minimal thus far. The Nasdaq Comp also stalled at first level resistance (5101/5111, session high 5108) while the Dow just slightly exceeded its previous April peak at 18169 (session high 18175).

9:49 am Biomarin Pharm announces completion of an FDA New Drug Application for Drisapersen, to treat Duchenne Muscular Dystrophy (BMRN) :  

9:41 am Opening Market Summary: Energy Sector Paces Opening Advance (:WRAPX) : As expected, the major averages began the day with modest gains. The Dow Jones Industrial Average (+0.3%) leads while the S&P 500 (+0.2%) follows a little behind.

Eight of ten sectors display early gains with energy (+0.5%) pacing the early advance. The sector has been underpinned by a comparable advance in crude oil, which has climbed 0.5% to $57.42/bbl despite modest dollar strength that has the Dollar Index (97.08, +0.15) trading higher by 0.2% to follow two consecutive losses.

Elsewhere, the top-weighted technology sector (+0.4%) also displays relative strength while consumer staples (-0.2%) and utilities (-0.1%) underperform.

Treasuries remain near their lows with the 10-yr yield higher by two basis points at 1.93%.

9:38 am Vicor announces that a federal court denies SynQor's petition for panel rehearing in '190 patent litigation (VICR) : The United States Court of Appeals for the Federal Circuit in Washington, D.C., issued an order denying SynQor's petition for panel rehearing of the Court's March 13, 2015, decision invalidating certain claims of U.S. Patent No. 7,072,190. The Federal Circuit's March 13th decision reversed a prior decision of the US PTO's Patent Trial and Appeal Board that had found the same claims patentable in an inter partes reexamination proceeding initiated by Vicor.

9:38 am Stock indices edge back after modestly favorable start -- Dow +47, S&P +3.7, Nasdaq Comp +11 (:TECHX) :  

9:34 am Teck Resources announces acquisition of an additional ~3.90 mln common shares of Erdene Resource Development for $0.139/share (TCK) : Co subscribed for 2,826,310 common shares from Erdene in a private placement at a purchase price of $0.139 per common share and acquired the remaining 1,071,429 common shares through the exercise of share-purchase warrants at an exercise price of $0.10 per warrant.

9:31 am Gran Tierra Energy: West Face Capital has filed its notice of intention to nominate six new directors for election to the Board of Gran Tierra (GTE) :  

9:31 am Praxair announces entrance into a long-term contract to provide industrial gases to the China National Offshore Oil Company, expected to begin in 2017 (PX) :  

9:29 am On the Wires (:WIRES) :

• RingCentral (RNG) announced the launch of the its new RingCentral Contact Center.
• OSI Systems (OSIS) announced that its Rapiscan RTT 80 (Real Time Tomography) explosives detection system has achieved U.S. Transportation Security Laboratory certification for airport checked-baggage screening.
• MannKind Corporation (MNKD) announced that it will begin to manufacture a 12 unit cartridge strength of AFREZZA Inhalation Powder to improve glycemic control in adult patients with diabetes. The 12 unit cartridge was approved by the U.S. Food and Drug Administration on April 17, 2015 and is expected to be launched by Sanofi in the second half of 2015.
• RR Media (RRM) announces an agreement with Keshet International to make the television series DIG accessible to international broadcasters
• Lockheed Martin (LMT) announced recent contract awards from the U.S. Air Force valued at more than $80 million. Contracts include the delivery of the following training solutions: A C-130J Air Mobility Command weapon systems trainer , a KC-130J weapons systems trainer, C-130 aircrew training system operations and maintenance services and C-130J Training System Support Center services
• Ruckus Wireless (RKUS) announced that Mr. Ian Whiting has joined the company's executive management team as its Chief Commercial Officer
• The GEO Group (GEO) subsidiary The GEO Group Australia signed a contract for the continued management and operation of the Fulham Correctional Centre and the Fulham Nalu Challenge Community Unit. The contract for the continued management and operation of the Centre will have a term of ~ 19 years and three months effective July 1, 2016. The Centre is expected to generate ~$58 million Australian dollars in annualized revenues under the new contract.
• BioTime, Inc. (BTX) announced that the clinical-grade human Embryonic Stem cell lines from BioTime's wholly-owned subsidiary ES Cell International Pte will be used by UC Irvine to continue research in the use of stem cells to treat Huntington's disease under a $5 million grant from the California Institute for Regenerative Medicine
• Royal Caribbean Cruises (RCL) announced that Paul T. Parker has been named Senior Vice President and Chief Human Resources officer
• Newtek Business Services Corp (NEWT) announced that it has hired Gary Taylor, who will join as President and Chief Operating Officer of Newtek Business Credit, one of the Company's portfolio companies
• WiLAN (WILN) announced that The Toro Company has entered into a patent license agreement with WiLAN's subsidiary, Smart Irrigation Solutions Inc., related to irrigation control system technologies. The agreement resolves litigation that was pending in California. The consideration to be paid to WiLAN and all other terms of the license agreement are confidential.

9:20 am Mylan Labs rejects the unsolicited expression of interest from Teva Pharmaceutical (TEVA) to acquire Mylan, notes it remains committed to its firm offer for Perrigo (PRGO) (MYL) : The co notes that after a comprehensive review conducted in consultation with its financial and legal advisors, the Mylan Board concluded the approach did not meet any of the key criteria that would cause the Mylan Board to depart from the Company's successful and longstanding standalone strategy, and consider engaging in discussions to sell the Company. 

• The co further stated that, "After thorough consideration, Mylan's Board unanimously determined that Teva's proposal grossly undervalues Mylan, and would require Mylan's shareholders to accept what we believe are low-quality Teva shares in exchange for their high-quality Mylan shares in a transaction that lacks industrial logic and carries significant global antitrust risk.  In addition, we also believe that the proposal does not address the serious challenges of integrating two fundamentally different and conflicting cultures under a Teva Board and leadership team with a poor record of delivering sustainable shareholder value. We believe that these challenges would make it very difficult to generate value from this combination for Mylan shareholders."
  
• "As we have communicated many times to the public, our shareholders and other stakeholders, our Board and management are not, and will never be, entrenched; however, that does not mean we will entertain offers that grossly undervalue our Company. Our Board will certainly not consider engaging in discussions to sell the Company unless the starting point of the discussions is significantly in excess of $100 per share."

9:15 am InterNAP: RDG Capital sends letter to InterNAP Board recommending it retain an advisor to explore strategic alternatives, estimates the private market value of Internap in a merger or sale would be $16-19 per share (INAP) : The letter notes that despite continuing operational improvements and recent share price appreciation, RDG believes Internap remains significantly undervalued compared to its estimated private market value of $16 - $19 per share. To remedy the Company's undervaluation, RDG strongly recommends the Board retain a nationally recognized investment banking advisor to explore strategic alternatives to maximize shareholder value, including a potential sale or merger. Based on discussions with leading technology sector M&A investment bankers, RDG believes there are likely a number of potential strategic buyers who would be interested in acquiring Internap at a significant premium to its recent trading valuation. Whereas comparable data center companies trade at an average 6.4x 2015E revenue and 14.3x 2015E EBITDA, RDG notes that Internap trades at just 2.6x 2015E revenue and 9.9x 2015E EBITDA, representing the lowest valuation multiples in its peer group, notwithstanding the Company having a projected EBITDA growth rate similar to its peers.

9:15 am Golar LNG Partners increases quarterly distribution to $0.5775/unit from $0.5625/unit (GMLP) :  

9:14 am S&P futures vs fair value: +6.70. Nasdaq futures vs fair value: +20.70. (:WRAPX) : The stock market is on track for a higher open with futures on the S&P 500 trading seven points above fair value. Index futures spent the early portion of the night near their flat lines, but rallied to highs about two hours ago.

Global equity markets have started the week on an upbeat note with China's Shanghai Composite soaring 3.0% after MNI reported the People's Bank of China may begin buying local government bonds. Meanwhile in Europe, key regional indices hold gains between 0.5% and 1.0% despite the lack of new developments with regard to Greece.

Domestically, investors did not receive any economic data while today's batch of earnings did not include any notable reports. That being said, tech heavyweight-Apple (AAPL 132.14, +1.86)-is higher by 1.4% in pre-market ahead of its earnings report scheduled for after the closing bell.

Treasuries hover in the red with the 10-yr yield higher a basis point at 1.92%.

9:07 am Quantum Fuel announces the receipt of multiple orders from Linde North America to develop and manufacture additional retail hydrogen fueling dispensers for the further development of hydrogen fueling infrastructure in California (QTWW) : The hydrogen dispensers are targeted to be delivered to and commissioned by Linde North America around the fourth quarter of 2015.

9:07 am Pembina Pipeline placed its Phase II low vapour pressure, crude oil and condensate pipeline expansion into service; will release Q1 results on May 5 after close (previous sched for May 6 before open) (PBA) : The Phase II LVP Expansion, which is underpinned by long-term contracts with Pembina's customers, was commissioned on April 8, 2015 and was placed into service on April 24, 2015, adding an incremental 55,000 barrels per day ("bpd") on the Company's Peace Pipeline System and bringing total capacity on this line to over 250,000 bpd.

9:06 am Brunswick has acquired BLA, a provider of boating, lifestyle and adventure products; terms not disclosed (BC) : BLA hadrevenues of approximately AUD$50 million in 2014.

9:05 am OSI Systems beats by $0.01, misses on revs; lowers FY15 guidance (OSIS) : Reports Q3 (Mar) earnings of $0.78 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.77; revenues rose 5.6% year/year to $215.4 mln vs the $219.74 mln consensus.

Co issues guidance for FY15, lowers EPS to $3.42-3.60 from $3.54-3.76 vs. $3.59 Capital IQ Consensus; lowers FY15 revs to $950-975 mln from $975-998 mln vs. $976.28 mln Capital IQ Consensus, reflects lower than previously expected sales due to the adverse impact of the strong dollar as well as reduced sales volumes primarily in the Security division due to timing issues with less favorable product mix.

• As of March 31, 2015, the Company's backlog was ~$0.6 billion and the non-turnkey book to bill ratio for the three months ended March 31, 2015 was 1.0
  

9:04 am AAR Corp announces commencement of $135 million modified Dutch auction tender offer for its common stock (AIR) : Co announced that it is commencing a modified "Dutch auction" tender offer to purchase shares of its common stock for an aggregate cash purchase price of not more than $135 million. Pursuant to the tender offer, company stockholders may tender all or a portion of their shares (1) at a price specified by the tendering stockholder of not less than $29.00 per share and not more than $32.00 per share or (2) without specifying a purchase price, in which case their shares will be purchased at the purchase price determined in accordance with the tender offer. When the tender offer expires, AAR will determine the lowest price within the range of prices specified above that allows AAR to purchase up to an aggregate of $135 million of its common stock. D.F. King & Co., Inc., is serving as information agent for the tender offer. Wells Fargo Securities, LLC, is acting as dealer manager.

9:04 am China Jo-Jo Drugstores signed a new sales incentive agreement with Pfizer's (PFE) Wyeth Pharmaceutical (CJJD) :

• The purpose of the Agreement is to double the sales of Wyeth's Consumer Healthcare products in 2015. Jiuzhou Pharmacy has been partnering with Wyeth since 2003, and today it has become the largest retailer in Zhejiang Province for a variety of Wyeth's Consumer Healthcare products.
• The Agreement illustrated specific approaches and conditions of Jiuzhou Pharmacy's collaboration with Wyeth, including sales targets, promotional incentive to consumers, products and pricing methods. In return, Wyeth will fully support Jiuzhou Pharmacy with priority delivery, favorable purchase prices and promotional activities. Mr. Cai Baoguang, President of Pfizer's Healthcare Division for Greater China Region, has recently visited the Company and finalized the detail in the Agreement.
  

9:03 am Wesco announces a definitive agreement to acquire Hill Country Electric Supply; expected to be accretive to EPS by ~$0.05 per diluted share in the first year of operation (WCC) : Co announces that WESCO Distribution has entered into a definitive agreement to acquire Hill Country Electric Supply. Closing is expected to occur in May 2015. Hill Country generates ~$140 mln in annual revenues from nine locations in Central and South Texas, primarily in the Austin and San Antonio regions. This acquisition is expected to be accretive to earnings by ~$0.05 per diluted share in the first year of operation.

9:03 am Thermon Group announces that Bruce Thames will join as Executive Vice President and Chief Operating Officer (THR) : Co announced that Bruce Thames will join its management team as Executive Vice President and Chief Operating Officer, a new position within the Company. He will be focused on implementing the Company's strategic plans as well as leading key initiatives to drive revenue growth and increase profitability.

9:03 am Flex Pharma initiates human proof-of-concept efficacy study in nocturnal leg cramps; expected to enroll ~40 subjects (FLKS) :  

9:02 am Aerohive Networks announces a sales agreement with Dell for its wi-fi and cloud services solutions (HIVE) : Co announced that Dell will resell Aerohive's solutions worldwide, offering Dell's customers Aerohive's Wi-Fi and cloud services. Under the agreement Dell will offer Aerohive's 802.11ac access points and HiveManager NG, Aerohive's next-generation cloud platform.

9:02 am Old Ntnl Bancorp misses by $0.07 (ONB) : Reports Q1 (Mar) earnings of $0.18 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.25. 

• Loan originations up 70% over 1Q14. 
• Results include $11.0 million in pre-tax charges, including merger and integration costs and severance and branch consolidation charges related to franchise-wide optimization plan announced in 1st quarter 2015.
  

9:01 am DR Horton acquires the homebuilding operations of Pacific Ridge Homes in Seattle (DHI) : Co announces the acquisition of the homebuilding operations of Pacific Ridge Homes in Seattle. The assets acquired include approximately 350 lots, 90 homes in inventory and 40 homes in sales order backlog. D.R. Horton also acquired control of approximately 400 lots through option contracts. Co will pay approximately $72 million in cash for the purchase, and Pacific Ridge will operate as a separate division within D.R. Horton.

9:01 am Ruckus Wireless appoints Ian Whiting as Chief Commercial Officer (RKUS) : Whiting previously served as president, global field operations for Egnyte. Prior to Egnyte, Whiting held global sales and operations leadership roles at Fusion-io (acquired by SNDK), Riverbed Technology (RVBD), and Brocade Communications (BRCD).

9:01 am Invitae appoints Robert L. Nussbaum, M.D. as Chief Medical Officer, effective August 1, 2015 (NVTA) : Dr. Nussbaum was most recently chief of the Division of Genomic Medicine at UCSF Health and has played leadership roles in the Cancer Genetics and Prevention Program and in the Program in Cardiovascular Genetics.

9:01 am Nimble Storage awarded NASPO ValuePoint master agreement for U.S. State and Local Government (NMBL) :

• Co announced it has been awarded the National Association of State Procurement officials ValuePoint Master Agreement for computer equipment, peripherals and related services.
  

9:01 am Kopin announces $1.8M in follow-on production orders for high brightness SXGA displays in support of the F-35 program; to be fulfilled over a fifteen-month period (KOPN) :  

8:57 am Timberline Resources prelim economic assessment indicates $136 mln after-tax NPV and 39% IRR at $1,150/oz Gold (TLR) : Timberline Resources (TLR) is pleased to report the results of a positive Preliminary Economic Assessment carried out on the Company's recently optioned Talapoosa project located in western Nevada. Timberline holds a 30-month option to purchase 100% of Talapoosa.

• The PEA confirms Talapoosa's robust economic potential as an open pit, heap leach gold operation using contract mining at a processing rate of 3.8 million tons per annum (Mtpa). Specifically, using the base case price assumption of $1,150/oz gold and $16/oz silver, Talapoosa has an estimated $209 million after-tax net cash flow, $136 million after-tax net present value (NPV) at a 5% discount rate, an attractive 39% after-tax internal rate of return (IRR), and a low initial capital cost of $51 million.
  

8:56 am S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +17.20. (:WRAPX) : The S&P 500 futures trade five points above fair value.

Overall, it was a somewhat mixed outing for Asian-Pacific markets on Monday, yet it was another gangbuster day for the Shanghai Composite, which soared 3.0% on the back of continued buying momentum from retail investors and speculation the People's Bank of China could begin a quantitative easing program.

• Economic data was limited: 
  • China's March Industrial Profits -0.4% year-over-year (prior -4.2%) while Q1 Industrial Profits -2.7% year-over-year 

------ 

• Japan's Nikkei declined 0.2% with losses in the financial (-0.6%), energy (-0.6%), and consumer cyclical (-0.6%) sectors weighing on matters. Shiseido Co (-5.0%), Mitsubishi Motors (-4.1%), and Sumitomo Dainippon Pharma Co (-3.6%) topped the list of decliners. Nippon Paper Industries (+5.1%) and NEC Corp (+4.9%) paced the winners. Out of the 225 index members, 83 ended higher, 132 finished lower, and 10 were unchanged. 
• Hong Kong's Hang Seng increased 1.3%. The energy (+3.9%), technology (+1.4%), and financial (+1.0%) sectors were the biggest movers. Individual standouts included China Petroleum and Chemical Corp (+7.2%), PetroChina (+6.7%), Kunlun Energy (+4.8%), HSBC Holdings (+3.6%), and China Unicom Hong Kong (+2.8%). China Mengniu Dairy (-1.9%) and Belle Intl (-1.7%) were the only stocks to drop more than 1.0%. Out of the 50 index members, 40 ended higher and 10 finished lower. 
• China's Shanghai Composite increased 3.0%. According to a Bloomberg report, the rally was fueled in part by speculation that the government is considering merging state-owned enterprises. The energy (+4.5%) and industrial (+2.2%) sectors were the biggest movers in the Chinese market on Monday, with the latter bumping up after a report showing industrial profits were down 0.4% in March year-over-year versus a 4.2% decline in the first two months. Sinopec Shanghai Petrochemical, Guangshen Railway, China Petroleum & Chemical, and Air China all rose by the daily limit of 10%. 

Major European indices trade higher across the board with Germany's DAX (+1.4%) in the lead. Greece remains in limbo following the Eurogroup meeting, but Eurogroup chief Jeroen Dijsselbloem said he does not believe that a third bailout for Greece is needed at this time.

• Participants received just a couple data points: 
  • Germany's March Import Price Index +1.0% month-over-month (expected 0.5%; prior 1.4%); -1.4% year-over-year, as expected 
  • UK's CBI Industrial Trends Orders ticked up to 1 from 0 (consensus 4) 

------

• UK's FTSE is higher by 0.5% with miners and financials showing strength. HSBC Holdings, Standard Chartered, Anglo American, Antofagasta, Rio Tinto, and Glencore are up between 0.6% and 2.9%. On the downside, homebuilders lag with Barratt Developments and Taylor Wimpey both down near 0.7%. 
• In France, the CAC has gained 0.7%. Cap Gemini leads trades higher by 7.7% after announcing plans to acquire IGATE for $4 billion. Financials trade mixed with Societe Generale up 0.7% and BNP Paribas off 0.1%. 
• Germany's DAX has jumped 1.4% with all but two names in the green. Deutsche Lufthansa and Volkswagen hold respective gains of 4.7% and 4.1% with the latter rallying after the resignation of its Chairman. Deutsche Bank is the weakest performer, down 4.1%.

8:54 am Tennant beats by $0.02, reports revs in-line; reaffirms FY15 guidance (TNC) : Reports Q1 (Mar) earnings of $0.27 per share, $0.02 better than the Capital IQ Consensus of $0.25; revenues rose 0.9% year/year to $185.7 mln vs the $185.5 mln consensus; +6% organic.

Co reaffirms guidance for FY15, sees EPS of $2.40-2.70 vs. $2.61 Capital IQ Consensus; sees FY15 revs of $825-855 mln vs. $842.27 mln Capital IQ Consensus. 

• As stated previously, foreign currency exchange headwinds in 2015 are estimated to negatively impact operating profit in the range of $10 million to $12 million, or ~$0.37 to $0.44 earnings per diluted share. The estimated higher effective tax rate in 2015 is anticipated to negatively impact earnings per diluted share by ~$0.14. The company expects its 2015 financial results to be stronger in the second half of the year.
• Tennant plans to meet its $1 billion strategic growth goal through a strong new product pipeline in both the core business and in the Orbio Technologies Group, continued gains in emerging markets, growth in Europe, focus on strategic accounts and an enhanced go-to-market strategy designed to significantly expand its global market coverage and customer base.
  

8:40 am European Markets Update: FTSE +0.4%, CAC +0.7%, DAX +1.4% (:SUMRX) : Major European indices trade higher across the board with Germany's DAX (+1.4%) in the lead. Greece remains in limbo following the Eurogroup meeting, but Eurogroup chief Jeroen Dijsselbloem said he does not believe that a third bailout for Greece is needed at this time.

• Participants received just a couple data points: 
• Germany's March Import Price Index +1.0% month-over-month (expected 0.5%; prior 1.4%); -1.4% year-over-year, as expected 
• UK's CBI Industrial Trends Orders ticked up to 1 from 0 (consensus 4). 

------

• UK's FTSE is higher by 0.4% with miners and financials showing strength. HSBC Holdings, Standard Chartered, Anglo American, Antofagasta, Rio Tinto, and Glencore are up between 0.6% and 2.9%. On the downside, homebuilders lag with Barratt Developments and Taylor Wimpey both down near 0.7%. 
• In France, the CAC has gained 0.7%. Cap Gemini leads trades higher by 7.7% after announcing plans to acquire IGATE for $4 billion. Financials trade mixed with Societe Generale up 0.7% and BNP Paribas off 0.1%. 
• Germany's DAX has jumped 1.4% with all but two names in the green. Deutsche Lufthansa and Volkswagen hold respective gains of 4.7% and 4.1% with the latter rallying after the resignation of its Chairman. Deutsche Bank is the weakest performer, down 4.1%.
  

8:37 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: SILC -5%, DB -4.4%, MRVL -4.2%, SOHU -3.8%, MNDO -2.3%, IBN -1.6%

M&A news: AMAT -6% (Applied Materials and Tokyo Electron (TOELY) agree to terminate business combination agreement; announces $3 bln share repurchase authorization), BP -1% (UK Government has indicated that it would not approve any acquisition of BP, according to FT)

Other news: CLDN -74.5% (reports negative results for CUPID2 trial of MYDICAR in advanced heart failure; investigational gene therapy fails to meet primary and secondary endpoints), AKRX -12.4% (announces it will restate various previously issued financial statements due to errors identified during the first quarter 2015 financial review process; affirms its 2015 EPS guidance), RMGN -10.6% (announces the appointment of Jana Bell as CFO), CO -5.8% (announces receipt of 'going private' proposal from Golden Meditech Holdings for $6.40/share in cash), ATRS -4.4% (regains U.S. marketing rights to OTREXUP for psoriasis indication and announces termination of leo pharma marketing agreement), CWST -1.1% (postponed the date of 2015 Annual Meeting of Stockholders, previously scheduled to be held on July 7, 2015, to a date to be determined), NOK -0.8% (reaffirms it currently has no plans to manufacture or sell consumer handsets)

Analyst comments: DDD -2.5% (downgraded to Underweight from Neutral at Piper Jaffray; downgraded to Sell from Neutral at UBS), SDRL -1.7% (downgraded to Sell from Neutral at Citigroup; downgraded to Underperform from Market Perform at Wells Fargo), EV -1.6% (downgraded to Sell from Neutral at Citigroup), SSYS -1.3% (downgraded to Hold from Buy at Canaccord Genuity), OHI -1% (downgraded to Underperform from Neutral at BofA/Merrill), PRGO -0.9% (downgraded to Neutral from Buy at UBS; downgraded to Neutral at B. Riley & Co), TWTR -0.6% (downgraded to Neutral from Buy at Sun Trust Rbsn Humphrey)

8:35 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: INCR +6.8%, BPOP +4.3%, LH +2.8%, QSR +1%, INGN +0.9%, CYOU +0.6%

M&A news: IGTE +3.4% (to be acquired by Capgemini (CGEMY) for $48 per share),PWRD +3.3% (enters into definitive agreement for going private transaction),HSBC +2.9% (SundayTimes details news that HSBC (HSBC) may consider EUR 20 bln spinoff of Britain retail unit), CELG +1% (to acquire Quanticel Pharma for an upfront payment of $100 mln in cash plus contingent payments; sees deal neutral to adj. FY15 earnings)

Other news: SYMX +66.7% (Paulson & Co discloses 11.7% passive stake in 13G filing),CANF +23% (reports positive results from further analysis of Phase II/III Psoriasis trial; Data suggest CF101 as potential first-line systemic therapy for patients with moderate-severe psoriasis),NBG +5.7% (ongoing volatility on Greece default),LXU +4.1% (LSB Industries and Starboard Value reach agreement regarding corporate governance and board composition),CBLI +3.8% (announces the award of a 3-year, $1.2 mln Breast Cancer Research Program Award to Roswell Park from the Department of Defense Congressionally Directed Medical Research Program for research into the immunotherapy of metastatic breast cancer),ZIOP +3.1% ( Initiation of Phase 1b/2 Study of Ad-RTS-hIL-12 Gene Therapy),TSL +2.5% (signs strategic cooperation agreement to develop up to 300 MW of distributed generation solar power and related projects in Hefei, Anhui Province),AXTA +2.2% (signed agreement with Rheinmetall MAN Military Vehicles Australia to provide coating products for over 2,500 Australian military logistic vehicles),MACK +2.2% (Merrimack Pharma and Baxter BioScience announce completion of new drug application submission to U.S. FDA for MM-398 as a treatment for post-gemcitabine metastatic pancreatic cancer),GWPH +2.1% (announces that the USPTO has issued a Notice of Allowance for a patent application which covers the use of cannabidivarin for treating epilepsy; also TechCrunch discusses upcoming changes to marijuana industry),ACHN +2% (presents detailed clinical results on ACH-3102 and ACH-3422 at the International Liver Congress),NVO +1.9% (among EMA recommendations on extensions of therapeutic indication),ASML +1.9% (cont strength),CPRX +1.6% (slight rebound following last weeks decline),AAPL +1.6% (report earnings later today, positive view at Barrons),PHG +1.1% (set to report earnings tonight),RCL +1% (cont strength)

Analyst comments: TRUE +5% (upgraded to Buy from Neutral at Goldman),NBR +3.7% (upgraded to Buy from Neutral at Goldman),YPF +2.8% (upgraded to Overweight from Neutral at JP Morgan),PTEN +2.1% (upgraded to Buy from Neutral at Goldman),JD +2.1% (initiated with a Overweight at JP Morgan),NEM +1.5% (upgraded to Outperform from Neutral at Credit Suisse),DIS +1.1% (upgraded to Buy from Neutral at Guggenheim)

8:34 am iBio engages Caliber Biotherapeutics LLC to scale-up and produce materials for clinical development of the first of its proprietary anti-fibrosis products, IBIO-CFB03 (IBIO) : Caliber's production will be used for IND-enabling toxicology studies and initial human clinical trials of IBIO-CFB03.

8:33 am Castlight Health hired Mark Sarbiewski as chief marketing officer (CSLT) : Sarbiewski comes to Castlight Health from Anaplan, a cloud-based planning platform for Finance, Sales, and Operations. Prior to Anaplan, Sarbiewski was chief marketing officer for Clustrix.

8:33 am Mercury General misses by $0.14, misses on revs (MCY) : Reports Q1 (Mar) operating earnings of $0.59 per share, excluding non-recurring items, $0.14 worse than the Capital IQ Consensus Estimate of $0.73; revenues rose 2.2% year/year to $740.5 mln vs the $758.93 mln consensus.

8:32 am Drew Industries acquires RV component manufacturer Spectal Industries, for $22.3 mln and contingent considerations; expects acquisition to be immediately accretive (DW) : Sales of the acquired business for 2014 were approximately $25 million. The purchase price of $22.3 million was paid at closing from borrowings under the Company's $100 million line of credit, plus contingent consideration based on future sales

8:31 am Campus Crest Communities announces appointment of David Coles as interim CEO and John Makuch as interim CFO; strategic review process remains ongoing (CCG) : The co announced that the Board of Directors is in the process of retaining Alvarez & Marsal North America, LLC to support its ongoing efforts to improve operational efficiency, drive profitable growth and deliver maximum shareholder value. As part of Alvarez & Marsal's mandate, the Board has authorized the appointment of David Coles as interim Chief Executive Officer and John Makuch as interim Chief Financial Officer, which is subject to the finalization of an engagement letter expected to be executed within a couple of days. Both Mr. Coles and Mr. Makuch serve as Managing Directors at Alvarez & Marsal. Scott Rochon, who previously acted as interim Chief Financial Officer, will continue to serve as Chief Accounting Officer. Aaron Halfacre will remain President and Chief Investment Officer, working alongside Mr. Coles and Mr. Makuch.

• The company also noted it is continuing with its comprehensive and thorough analysis to explore a broad range of strategic, operational and financial alternatives to further enhance shareholder value. The Company remains committed to maximizing shareholder value and will continue to work closely with its outside financial advisor, Moelis & Company LLC, and legal advisor, Kilpatrick Townsend & Stockton LLP, to ensure a thorough and robust process. The Company expects to disclose its progress on its review of strategic alternatives during its first quarter 2015 conference call.

8:30 am MarineMax approves a 1 mln share repurchase program (HZO) :  

8:30 am European Yields (BONDX) : Spanish 10-Year Bono Rallies

• Germany auctioned off 12-month debt today at a yield of -0.278%
• According to The Guardian, the latest opinion polls are showing that 72% of the Greek public wants to strike a deal (unclear what conditions), while only 23% would prefer a clash with creditors
• The Greek negotiating team is undergoing a shakeup, while Yanis Varoufakis is still leading the group
• Yield check:
• France, 10-yr OAT: +1 bp to 0.43%
• Germany, 10-yr Bund: +1 bp to 0.17%
• Greece, 10-yr note: -10 bps to 12.45%
• Italy, 10-yr BTP: -5 bps to 1.37%
• Portugal, 10-yr note: +5 bps to 2.03%
• Spain, 10-yr Bono: -7 bps to 1.32%
• U.K., 10-yr Gilt: +3 bps to 1.71%

8:28 am S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +16.90. (:WRAPX) : U.S. equity futures continue holding modest gains as they hover near their pre-market highs.

Meanwhile, the Dollar Index (97.23, +0.31) has spent the morning in a steady climb after registering two consecutive declines to end last week. The early dollar strength has come at the expense of the British pound (-0.5%) and the euro (-0.4%).

Today's action in the greenback will not be affected by economic data with tomorrow's Case-Shiller 20-city Index for February (Briefing.com consensus 4.7%) representing the first data point of the week.

8:24 am Tempur Sealy Int'l: Glass Lewis and Proxy Mosaic recommend shareholders vote against all three directors targeted by H Partners (TPX) :

8:21 am GOL Linhas Areas Inteligentes S.A. announces its preliminary air traffic figures for March 2015 (GOL) : The domestic load factor reached 78.9% in 1Q15, 2.1 p.p. up year-on-year. The rate came to 74.2% in March, 0.2 p.p. down on March 2014 and 78.3% in the last 12 months (LTM), 5.4 p.p. more than in the previous 12-month period.

•  Domestic demand in the first quarter increased by 4.9% over 1Q14, fell by 1.8% in March and climbed by 5.7% in the LTM over the same periods last year.

  Domestic capacity moved up by 2.1% in 1Q15 and fell by 1.6% in March. The LTM figure fell by 1.5% over the previous 12 months. 

• International demand climbed by 20.7% in the first quarter, leading to a load factor of 72.6%, up by 1.2 p.p. The number of passengers transported in the entire route network totaled 10.1 million in 1Q15, 3% more than in 1Q15, and 40 million in the LTM, 11.5% up on the same period the year before.
• In the first quarter, net PRASK fell by 8.0% and yield by 5.7% over 1Q14. 
• On 1Q15, jet fuel prices was between R$ 1.95 and R$ 2.02 per liter.
  

8:20 am Scorpio Tankers beats by $0.03, beats on revs (STNG) : Reports Q1 (Mar) earnings of $0.24 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 109.5% year/year to $160.7 mln vs the $146.32 mln consensus.

8:16 am G. Willi Food announces extension of exclusive distribution arrangement with Arla Foods (WILC) :

• The co announced that its wholly owned subsidiary Gold Frost Ltd. ("Goldfrost") has entered into an Exclusive Distribution Agreement (the "Agreement") with the Danish producer of dairy products, Arla Foods amba ("Arla"), with a term of five years commencing from the expiration in June 2015 of the current distribution agreement between the parties.
• Under the Agreement, Arla granted Goldfrost an exclusive and non-transferable right to import, export, market and distribute cheese and butter products manufactured by Arla in Israel. Goldfrost's exclusivity is subject to its purchase of certain minimum quotas of Arla products.
  

8:15 am Extended Stay America subsidiary ESH Hospitality to offer $500 mln aggregate principal amount of senior notes due 2025 (STAY) :  

8:14 am Bristol-Myers announces ALLY-1 trial results: data showed that primary endpoints were successfully met with 95% of post-transplant genotype 1 patients and 82% of genotype 1 patients with advanced cirrhosis achieving SVR12 (BMY) : The study's primary endpoints were reached, with 95% of post-transplant genotype 1 patients and 82% of genotype 1 patients with advanced cirrhosis achieving SVR12. Among all ALLY-1 patients, 94% of those with post-transplant HCV recurrence and 83% of all participants with advanced cirrhosis achieved cure.

• Over the course of the study, four advanced cirrhotic patients received a liver transplant during treatment; 3 of 4 extended treatment post-transplant (see study design below), and all 4 achieved SVR12. In the study, there were no serious adverse events related to study medications throughout the treatment phase. 
• The most common adverse events  were headache (15%, 36%), fatigue (18%, 28%), anemia (20%, 19%), diarrhea (8%, 19%), nausea (17%, 6%), and arthralgia (2%, 13%) in the advanced cirrhotic and post-transplant cohorts, respectively. One patient discontinued therapy after 31 days due to headache, but still achieved SVR12. 
• Nine patients in the cirrhosis cohort relapsed post-treatment, and one had detectable HCV RNA at the end of treatment; there were no on-treatment virologic breakthroughs. Three patients  in the post-transplantation cohort relapsed.
  

8:14 am InspireMD announces it received approval to commercialize MGuard Prime with MicroNet technology in Brazil (NSPR) : The approval was granted by the Agencia Nacional de Vigilancia Sanitaria

8:06 am Vital Therapies announces poster presentations from the annual meeting of the European Association for the Study of the Liver (VTL) : Co announced the presentation of two posters at the recent annual meeting of the European Association for the Study of the Liver (:EASL).

• The first poster is titled "A Randomized, Open-label, Multicenter, Controlled Study to Assess Safety and Efficacy of ELAD, a Human Cell-Based Bio-Artificial Liver Support System (:ELAD), in Subjects with Alcohol-Induced Liver Decompensation (:AILD)." 
• The second poster is titled "Expression of Liver-Specific Cytochrome P450 Isoenzymes and Oxygenases in C3A Cells Prior to and After Treatment with the ELAD Liver Support System."
  

8:05 am Plantronics beats by $0.11, reports revs in-line; guides Q1 EPS in-line, revs below consensus (PLT) : Reports Q4 (Mar) earnings of $0.72 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $0.61; revenues fell 4.0% year/year to $200.8 mln vs the $200.35 mln consensus.

• Consumer net revenues were $52.1 mln in 4Q15, down from $58.6 mln in 4Q14, due to several factors, including a decline in the mono Bluetooth market and the bankruptcy of a large U.S. retailer.

Co issues mixed guidance for Q1, sees EPS of $0.62-0.71, excluding non-recurring items, vs. $0.70 Capital IQ Consensus Estimate; sees Q1 revs of $202-212 mln vs. $212.35 mln Capital IQ Consensus Estimate.

8:05 am Celestica announces the terms of its previously announced substantial issuer bid pursuant to which it will offer to purchase for cancellation up to 29,914,529 of its subordinate voting shares for an aggregate purchase price not to exceed $350 mln (CLS) : The Offer will be conducted through a "modified Dutch auction" within a price range of not less than US$11.70 per Share and not more than US$13.30 per Share (in increments of US$0.10 per Share within that range). We intend to fund the Offer with a combination of: the net proceeds of an expected new US$250,000,000 secured non-revolving term loan (the "Term Loan"); cash drawn on our existing US$300,000,000 revolving credit facility; and available cash on hand.

8:04 am Mavenir Systems: Mitel (MITL) announces cash and share considerations for acquisition of Mavenir will equal $17.55 and 1.8320 Mitel Common Shares, respectively (MVNR) :

• Co announced, in connection with its pending acquisition of Mavenir Systems, that the Cash Consideration and the Share Consideration (each as defined in Mitel's registration statement relating to its exchange offer for all of the outstanding shares of common stock of Mavenir) will equal $17.55 and 1.8320 Mitel Common Shares, respectively, in each case assuming that Mitel's exchange offer expires at 12:00 midnight, New York City time, on April 28, 2015 (one minute after 11:59 p.m., New York City time, on April 27, 2015). Mitel has determined the Cash Consideration and the Share Consideration based on the average of the volume weighted average price of a Mitel common share on each of the ten (10) consecutive trading days ending on and including the second trading day prior to April 28, 2015, or $9.5796. 
• If the exchange offer is extended, Mitel will recalculate this information based on the later expiration date of the exchange offer and announce the new amounts by issuing a press release.
  

8:04 am Dycom amends existing credit agreement (DY) : This amendment increases the maximum revolver commitment from $275.0 million to $450.0 million and increases the term loan portion of the agreement to $150.0 million. The maturity date of the agreement was extended to April 24, 2020.

8:04 am Accuride misses by $0.04, beats on revs; guides FY15 revs in-line (ACW) : Reports Q1 (Mar) loss of $0.01 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.03; revenues rose 10.1% year/year to $183.7 mln, primarily reflecting the impact of stronger industry conditions in the Company's Wheels and Brillion segments during the quarter, vs the $180.2 mln consensus.

• Co issues in-line guidance for FY15, sees FY15 revs of $725-775 mln vs. $744.51 mln Capital IQ Consensus Estimate.
• The midpoints of the co's revenue and Adjusted EBITDA ranges represent increases of 6% and 15%, respectively, over Accuride's 2014 results.
• The co has based its 2015 guidance on the following projections for the North American commercial vehicle industry: Class 8 production in the range of 310,000 to 330,000 units, Class 5-7 production in the range of 220,000 to 225,000 units and Trailer segment production in the range of 280,000 to 300,000 units.
• In addition, management expects net sales for the Brillion business unit to be flat versus 2014.
  

8:04 am Centene announces appointment of Dr. Ken Yamaguchi as Chief Medical Officer (CNC) : Co announces the appointment of Ken Yamaguchi, MD, to Executive VP and Chief Medical Officer, effective immediately. In 1995, Dr. Yamaguchi founded the Shoulder and Elbow Service at Washington University in St. Louis, which has since become nationally and internationally recognized for innovations in shoulder and elbow surgery, as well as research on shoulder and elbow disorders.

8:04 am RMG Networks Holding announces the appointment of Jana Bell as CFO, effective April 27, 2015 (RMGN) : Bell most recently served as Executive Vice President and Chief Financial Officer for EF Johnson Technologies

8:03 am The Children's Place files definitive proxy materials and mails white proxy card for Annual Meeting to be held on May 22, 2015; sends letter recommending Shareholders support its three independent director nominees (PLCE) :

• "Under this leadership team, PLCE has continued to perform as we undergo a transformation to position us to excel for years to come in specialty children's apparel. Since 2010, we have consistently generated robust cash from operations, our share price has nearly doubled, our market capitalization has increased by 54%, and we have returned nearly half a bln dollars to our investors. In 2014, we outperformed our peer group and recorded positive comparative store sales, including 3.7% for Q4. Co's three director nominees and our five other current Directors collectively have the right combination of expertise, experience and independence to ensure that this strong progress continues."
• "PLCE's BoDs has closely evaluated Macellum and Barington's nominees and has concluded that they do not possess the necessary and relevant experience or skills to be additive to the Board of a global, omni-channel children's specialty apparel retailer. The Board believes that the Co's three nominees and our five other current Directors collectively have the right combination of expertise, experience and independence to continue the strong progress at PLCE." 
  

8:03 am Tenneco misses by $0.16, misses on revs; Reaffirms FY15 outlook, gives Q2 outlook (TEN) : Reports Q1 (Mar) earnings of $0.88 per share, $0.16 worse than the Capital IQ Consensus Estimate of $1.04; revenues fell 3.4% year/year to $2.02 bln vs the $2.08 bln consensus.

• Q2 outlook: Excluding currency, Tenneco anticipates total revenue growth of about 5% in the second quarter. Based on current exchange rates, the company anticipates a currency headwind in the second quarter of approximately 9%. 
• Reaffirms FY15 outlook: Reaffirms its full-year revenue guidance for total revenue growth of 5% to 8%, excluding currency. 

8:03 am ZIOPHARM announces initiation of Phase 1b/2 study of Ad-RTS-hIL-12 gene therapy in patients with locally advanced or metastatic breast cancer (ZIOP) : Co announces the initiation of a Phase 1b/2 study of Ad-RTS-hIL-12 + veledimex following standard chemotherapy for the treatment of patients with locally advanced or metastatic breast cancer.

• The study is designed to examine the safety, tolerability and efficacy of Ad-RTS-hIL-12 immunotherapy in women with locally advanced or metastatic breast cancer of all subtypes. Up to 40 subjects may be enrolled in the study, including up to 20% (8 subjects) with HER2+ breast cancer.
  
  
• Subjects who are receiving first- or second-line standard therapy and have achieved a partial response or stable disease are eligible.
  
  
• Following entry into the trial, patients will go on a treatment holiday from chemotherapy and enter an immunotherapy phase of treatment. A single cycle of Ad-RTS-hIL-12, along with the oral activator ligand veledimex, will be given during the immunotherapy phase, with the goal of maintaining or improving pre-study response.
  
  
• Secondary objectives include overall response rate, disease control rate and impact of treatment on tumor and serum immune biomarkers.
  

8:02 am U.S. Antimony reports Los Juarez drill results (UAMY) :

• The co reported that a shallow reconnaissance drilling program at its Los Juarez deposit in Queretaro, Mexico was begun to delineate the higher grade zones for mining for the Puerto Blanco pilot mill in Guanajuato, Mexico and to direct the deeper drilling of the Los Juarez deposit in the future.
• To date, less than 5% of the property that is 3.5 kilometers long and up to 1 kilometer in width has been drilled.
• Eighty one holes were drilled, and with the exception of 5 holes that were drilled to 3-5meters, the balance of the holes were drilled to a total depth of 0.8-2 meters.
• Six of the drill holes were in mine pit areas, and the balance of the holes were all in unexplored areas over a distance of 1,600 meters.
• Most of the holes showed anomalous values of either gold, silver, antimony, or of two or three of these metals
  

8:02 am Macatawa Bank Corporation increases quarterly dividend to $0.03/share from $0.02/share (MCBC) :  

8:02 am Popular beats by $0.02 (BPOP) : Reports Q1 (Mar) earnings of $0.71 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.69. For the quarter ended March 31, 2015, the Corporation had a net interest income of $343.2 million, compared to an adjusted net interest income of $345.5 million for the fourth quarter of 2014, which excludes the impact of the $18.6 million expense related to the refinancing of structured repos at PCB. The net interest margin was 4.57%, a decrease of 13 basis points from the adjusted previous quarter's net interest margin. The impact of having two less days in the quarter ended March 31, 2015 resulted in a reduction of approximately $4.9 million in net interest income when compared to the previous quarter.

8:02 am Cabela's announces successful renewal of variable funding facility with Wells Fargo Bank (CAB) : Co announces that the variable funding facility with Wells Fargo Bank has been extended through March 2018. In addition, the commitment under the variable funding facility has been increased from $225 million to $300 million. The variable funding facility relates to an outstanding series of variable funding notes issued by Cabela's Credit Card Master Note Trust.

8:01 am Flowserve names Karyn Ovelmen as CFO (FLS) :

• Co announced today that Karyn Ovelmen will join Flowserve as Executive Vice President and Chief Financial Officer, effective June 1, 2015. 
• Ovelmen will join Flowserve from LyondellBasell Industries (LYB).
  

8:00 am La Jolla Pharm appoints Lakhmir Chawla, as Chief Medical Officer (LJPC) :

• Co announced that Lakhmir Chawla will be joining the Company as Chief Medical Officer, effective July 1, 2015.
  

7:55 am S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +13.10. (:WRAPX) : U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value after climbing off their lows shortly after markets in Europe opened for action.

The weekend was relatively quiet in terms of news developments with the biggest story coming out of China where the Shanghai Composite surged 3.0% on the expectations that the People's Bank of China will launch a quantitative easing program.

Today's session will be free of economic data.

Treasuries hold slim losses with the 10y-r yield higher by two basis points at 1.93%.

In U.S. corporate news of note:

• 3D Systems (DDD 26.36, -0.87): -3.2% in reaction to a Piper Jaffray downgrade to 'Underweight' from 'Neutral.' 
• Akorn (AKRX 47.00, -8.24): -14.9% after announcing plans to restate prior financial statements. In addition, the stock was downgraded to 'Neutral' from 'Overweight' at Piper Jaffray. 
• American Express (AXP 77.61, -0.38): -0.5% after Nomura downgraded the stock to 'Neutral' from 'Buy.' 
• Applied Materials (AMAT 20.32, -1.49): -6.8% after terminating its combination agreement with Tokyo Electron due to regulatory concerns. 
• Changyou.com (CYOU 29.50, +0.18): +0.6% in reaction to better than expected results and cautious guidance. 
• Restaurant Brands International (QSR 41.97, +0.40): +1.0% after beating earnings estimates on light revenue. 

Reviewing overnight developments:

• Asian markets ended mixed. Japan's Nikkei -0.2%, Hong Kong's Hang Seng +1.3%, and China's Shanghai Composite +3.0% 
  • Economic data was limited: 
    • China's March Industrial Profits -0.4% year-over-year (prior -4.2%) while Q1 Industrial Profits -2.7% year-over-year 
  • In news: 
    • According to MNI, the People's Bank of China is looking at ways of expanding its balance sheet in order to avoid liquidity shortfalls in the system with quantitative easing being the most likely path. 

• Major European indices trade higher across the board. UK's FTSE +0.3%, France's CAC +0.5%, and Germany's DAX +1.1%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.1% 
  • Participants received just a couple data points: 
    • Germany's March Import Price Index +1.0% month-over-month (expected 0.5%; prior 1.4%); -1.4% year-over-year, as expected 
    • UK's CBI Industrial Trends Orders ticked up to 1 from 0 (consensus 4). 
  • Among news of note: 
    • Eurogroup chief Jeroen Dijsselbloem said he does not believe that a third bailout for Greece is needed at this time.

7:51 am LMI Aerospace announces an offer of exchange for $245 mln of its 7.375% second-priority senior secured notes due 2019 (LMIA) : Co commenced an offer to exchange any and all of the $245 million aggregate principal amount of 7.375% Second-Priority Senior Secured Notes due 2019 and related guarantees that are currently outstanding for an equal amount of new 7.375% Second-Priority Senior Secured Notes due 2019. Company is making the exchange offer to satisfy its obligations under a registration rights agreement relating to the Original Notes.

7:36 am Scorpio Bulkers to sell three drybulk ships for $111 mln, helping improve liquidity (SALT) :

• The co announced that it has entered into agreements to sell two Capesize newbuilding dry bulk vessels and an Ultramax newbuilding dry bulk vessel for approximately $111 million in aggregate.
• The Capesize vessels are currently being constructed in China and South Korea, and have expected delivery dates between the third quarter of 2015 and the second quarter of 2016. The Ultramax vessel is currently being constructed in China and has an expected delivery date in the first quarter of 2016.
  

7:33 am Micron Announces its intention to offer $1 billion of senior notes due 2024 and 2026 (MU) : Co announced that it intends to offer, subject to market and other considerations, $500 million aggregate principal amount of senior notes due 2024 and $500 million aggregate principal amount of senior notes due 2026.

• Co intends to use the net proceeds from the offering to repay, repurchase or make other payments with respect to the extinguishment of its debt, including its convertible notes, and for general corporate purposes.
  

7:32 am Otonomy presents AuriPro Phase 3 results at American Society of Pediatric Otolaryngology Conference; AuriPro reduces treatment failure by 49% (OTIC) : Co reports results from two identical Phase 3 trials of AuriPro at the annual American Society of Pediatric Otolaryngology meeting. The data supports Otonomy's New Drug Application that has been submitted to the FDA for the approval of AuriPro as a treatment of middle ear effusion in pediatric patients undergoing tympanostomy tube placement surgery.

• Results of these prospective, randomized, double-blind, sham-controlled Phase 3 trials demonstrated that AuriPro achieved the primary efficacy endpoint, reduction in the incidence of treatment failures, with statistical significance and that AuriPro was well tolerated. In these trials, AuriPro reduced the risk of treatment failure, as measured by the occurrence of post-operative otorrhea or any use of rescue antibiotics, by an average of 49% in all randomized patients across the two trials, and the rate of post-operative otorrhea or use of rescue antibiotics for documented otorrhea or otitis media by an average of 62% in all randomized patients across the two trials, in each case as compared to sham. The studies enrolled a combined total of 532 pediatric patients.
  

7:31 am Neostem's lead immuno-oncology product candidate, NBS20, receives ATMP classification from the European Medicines Agency (NBS) :

• Co announced that the European Medicines Agency (:EMA) has classified its lead immuno-oncology product candidate, NBS20, as an Advanced Therapeutic Medicinal Product (ATMP).
• ATMP classification, which is approved by the Committee for Advanced Therapies, was established to regulate cell and gene therapy and tissue engineered medicinal products, support development of these products and provide a benchmark for the level of quality compliance for pharmaceutical practices.
• As a designated ATMP product, NBS20 would follow the Centralized Procedure through the European Medicines Agency and benefit from a single evaluation and authorization process. Additional benefits established through the ATMP regulation include pathways for Scientific Advice and significant fee reductions for such advice. 
• BS20 is the Company's patient-specific targeted cancer immunotherapy candidate being investigated in the Intus Phase 3 trial in patients with stage III recurrent or stage IV metastatic melanoma.
  

7:31 am Cleveland Biolabs announces the award of a 3-year, $1.2 mln Breast Cancer Research Program Award to Roswell Park from the Department of Defense Congressionally Directed Medical Research Program for research into the immunotherapy of metastatic breast cancer (CBLI) :

• Co announced the award of a three-year, $1.2 million Breast Cancer Research Program Breakthrough Award to Roswell Park from the Department of Defense Congressionally Directed Medical Research Program for research into the immunotherapy of metastatic breast cancer with entolimod, a toll-like receptor 5 agonist. 
• The intent of the Breakthrough Award is to support promising research that has potential to lead to or make breakthroughs in breast cancer therapy.
  

7:31 am Coronado Biosciences changes its name to Fortress Biotech (CNDO) : Co announced that it has changed its name to Fortress Biotech, Inc. The Company's new NASDAQ stock ticker symbol is FBIO, which will be effective at the open of market on Tuesday, April 28, 2015.

7:31 am Haemonetics announces that Kent Davies has been appointed as COO (HAE) : Davies joined the co in 2014 and will have overall accountability for the company's commercial, product development and product management focus across the entire portfolio and in all geographies

7:31 am Navidea Biopharma announces entrance into an agreement with Alseres Pharmaceuticals to terminate the sub-license agreement for NAV5001 (NAVB) : Navidea previously announced its intention to decrease its R&D expenses by divesting its non-core neuroimaging assets. This agreement follows through on the Company's commitment to decrease cash burn while moving these neuroimaging programs forward.

• Under the terms of this agreement, Navidea will transfer the NAV5001 IND, all data, clinical materials, regulatory files, patents, know-how, and other assets covering the clinical testing of the NAV5001 to Alseres. 
• Alseres will reimburse Navidea on a fully-documented, pass-through basis for any incurred maintenance costs of the contract manufacturer retroactive to March 1, 2015. In addition, as requested by Alseres, Navidea will supply clinical support services for NAV5001 on a cost-plus reimbursement basis. 
• In consideration for the rights granted to Alseres, Navidea will receive a milestone payment in connection with NAV5001's NDA approval by the U.S. FDA and a royalty on subsequent net sales of NAV5001.
  

7:30 am Celgene to acquire Quanticel Pharma for an upfront payment of $100 mln in cash plus contingent payments; sees deal neutral to adj. FY15 earnings (CELG) : Celgene will acquire Quanticel for an upfront payment of $100 million in cash. Up to an additional $385 million in contingent payments may be achieved upon research, development, and regulatory advances related to Quanticel's research and development platform. Celgene anticipates that the acquisition will be neutral to 2015 adjusted diluted earnings guidance.

• The acquisition culminates a 2011 strategic alliance between Celgene and Quanticel. Over the course of the three-and-a-half year alliance, Quanticel industrialized its single-cell platform for analysis of tumor cellular content and applied it to novel target discovery and the generation of high-quality drug candidates. Multiple drug candidates from Quanticel are expected to enter the clinic in early 2016.
  

7:30 am Synta Pharma announces Chen Schor named President, CEO and Director , effective May 7, 2015 (SNTA) : Schor joined Synta as Executive Vice President and COO in December 2014. Prior to joining the company, Schor served as Vice President, Global Branded Products Business Development and Pipeline Management at Teva Pharmaceuticals (TEVA) and in leadership positions at several emerging private and public companies.

7:25 am Overnight Treasury Summary (BONDX) : Treasuries Flat

• The Treasury complex traded little changed from Friday's closes, as European equities found their footing after last week's volatility and U.S. equity indices continued to grind to record highs
• Yield check:
• 2-yr: +2 bps to 0.52%
• 5-yr: +1 bp to 1.33%
• 10-yr: +1 bp to 1.92%
• 30-yr: unch at 2.61%

• International News:
• As expected, the Eurogroup of 19 eurozone finance ministers failed to reach a solution last Friday to Greece's fiscal difficulties
• The United Kingdom's Labour Party has ruled out a coalition government with the Scottish National Party (SNP). The nation will holding its general election on May 7th, and there is more uncertainty surrounding the outcome than there has been in decades
• Banks and asset managers in the United States are appealing to Finra (Financial Industry Regulatory Authority) to change its transaction reporting system. Currently, corporate bond transactions must be reported within 15 minutes, which can discourage market makers from taking the other side of block trades for fear of being run over. This is just the latest manifestation of general concern in the industry over decreased liquidity in bonds markets, both government and corporate
• On Wednesday, U.S. markets will get their first official glimpse of Q1 GDP and the FOMC rate decision

• New Supply out Today:
• $26 billion 2-year note auction (results at 13:00 ET) 

7:17 am Imation issues a second letter to shareholders prior to its upcoming annual meeting; urges shareholders to vote for its director slate via the White proxy card (IMN) :  

7:17 am Trina Solar signs strategic cooperation agreement to develop up to 300 MW of distributed generation solar power and related projects in Hefei, Anhui Province (TSL) :

• Co announced that it has signed a strategic cooperation framework agreement with the Administrative Committee of the Hefei Xinzhan General Pilot Zone to develop up to 300 MW of distributed generation ("DG") solar power and related projects in Hefei, Anhui Province.
• The first phase of the project consists of a 30 MW commercial rooftop project, on which the Company will start construction in Q2 of 2015 and will be one of the largest single-unit commercial rooftop project in China once completed.
• The 300 MW project will be developed in Heifei City, a pioneer in promoting local DG solar power development and had a great amount of installed capacity of DG solar power in China as of the end of 2014.
• The Xinzhan General Pilot Zone is the primary area for PV industry development in Hefei, and will assist Trina Solar to gain local government support. In return, Trina Solar will use its leading technology, human resource, products, and industry leading position to help further develop DG solar power projects in Hefei.
  

7:11 am INC Research Holdings has filed a registration statement relating to a proposed secondary offering of up to 9.2 mln shares of its Class A common stock by certain of its existing stockholders (INCR) : In addition, INC Research intends to enter into an agreement with certain selling stockholders to repurchase an aggregate of $150.0 million of common stock from certain selling stockholders in a private transaction, concurrently with the closing of the offering, at the price at which the shares of common stock are sold to the public in the offering, less underwriting discounts and commissions.

7:05 am Roper Inds beats by $0.03, reports revs in-lin, operating cash flow increased 22% to $260 mln; guides Q2 EPS below consensus; raises FY15 EPS in-line (ROP) : Reports Q1 (Mar) earnings of $1.55 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.52; revenues rose 3.7% year/year to $865.3 mln vs the $873.47 mln consensus.

• Co issues downside guidance for Q2, sees EPS of $1.59-1.64 vs. $1.69 Capital IQ Consensus Estimate.
• Co raises FY15 EPS guidance as a result of its first quarter performance and outlook for the remainder of the year, sees EPS of $6.75-6.95 vs. $6.85 Capital IQ Consensus Estimate, up from $6.70-6.94.
  

7:04 am Antares Pharma regains U.S. marketing rights to OTREXUP for psoriasis indication and announces termination of leo pharma marketing agreement (ATRS) :

• Co announced that it has regained U.S. marketing rights to OTREXUP (methotrexate) injection for subcutaneous use for the psoriasis indication through the termination of an exclusive promotion and marketing agreement with LEO Pharma A/S ("LEO") for detailing OTREXUP to dermatologists for symptomatic control of severe recalcitrant psoriasis in adults.
• According to Symphony Health Solutions, dermatology prescriptions written for OTREXUP in Q1 of 2015 were below 5% of total OTREXUP prescriptions written. The collaboration will end on June 23, 2015.
• Antares has previously received a total of $10 mln in cash from LEO for the right to commercialize OTREXUP to dermatologists. This cash was recorded as deferred revenue and it was being amortized in to licensing revenue over a three-year period.
• As a result of the termination of the agreement with LEO, Antares expects to recognize the unamortized balance of the deferred revenues related to the agreement ($5.2 mln) in Q2 of 2015.
  

7:04 am Restaurant Brands Int'l beats by $0.03, misses on revs (QSR) : Reports Q1 (Mar) earnings of $0.18 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.15; pro forma revenues were unchanged from the year-ago period at $932 mln.

• Tim Hortons (:TH) comparable sales increased 5.3% and Burger King (BK) comparable sales increased 4.6% 
• TH delivered 53 net restaurant growth and BK delivered NRG of 15 
• System-wide sales grew 8.1% at TH and 9.6% at BK in constant currency 
• RBI Adjusted EBITDA was up 18.1% on an organic basis to $354.6 million versus the prior year pro forma amount
  

7:03 am Bioscrip announces that Jeffrey M. Kreger will join as Sr. VP, Chief Financial Officer and Treasurer, effective April 27, 2015 (BIOS) : Jeffrey M. Kreger will join the Company as Senior Vice President, Chief Financial Officer and Treasurer, effective April 27, 2015. He most recently served as Senior Vice President of Finance with LHC (LHCG).

7:03 am Can-Fite BioPharma reports positive results from further analysis of Phase II/III Psoriasis trial; Data suggest CF101 as potential first-line systemic therapy for patients with moderate-severe psoriasis (CANF) : The co announced favorable data from further analysis of its Phase II/III double-blind, placebo-controlled study designed to test the efficacy of CF101 in patients with moderate-to-severe plaque psoriasis.

• Further analysis of the entire study period revealed that by 32 weeks of treatment with CF101, 33% of the patients achieved PASI 75 while the mean percent of improvement in PASI score was 57% (p
• Most significantly, by week 32 of the study, 20% of the study patients reached PASI 90, a result demonstrating a response rate of 90% clearing of skin lesions. PASI 90 is one of the most stringent and difficult to meet clinical endpoints for measuring responses to psoriasis treatments.  Moreover, the PASI 90 subset analysis further suggests a higher and significant (p=0.026) CF101 response rate of 27% among patients previously untreated with systemic psoriasis therapy compared to patients pre-treated with systemic drugs.
• The Company believes this presents the opportunity that CF101 can be developed as a first-line systemic therapy for patients with moderate-severe psoriasis and for patients who do not want to be treated with the current systemic drugs due to safety issues. Currently there is no universally accepted first-line systemic therapy for patients diagnosed with psoriasis, and therefore CF101, an orally bioavailable drug with an excellent safety profile can be positioned for this unmet need. 
• Can-Fite intends to continue the development of CF101 for the treatment of psoriasis and has initiated work on the design of the next advanced--stage clinical trial protocol.
  

7:02 am Check-Cap receives notice of U.S. patent allowance for proprietary non-invasive, preparation-free capsule endoscopy technology (CHEK) :

• Co announced receipt of a Notice of Allowance from the United States Patent and Trademark Office for patent application U.S. 13/825,018 entitled, "Estimation of Distances and Size of Lesions in the Colon with an Imaging Capsule."
• The patent broadly covers Check-Cap's investigational preparation-free endoscopy capsule with a colon imaging system for detecting colorectal cancer and clinically-significant pre-cancerous polyps, and outlines a method for measuring distances inside a patient's colon and optionally using the measurements to construct an image of the inside of the colon. Once granted, the patent is expected to be valid through 2031.
• The Check-Cap imaging system requires no fasting or prior bowel cleansing as the imaging capsule employs X-rays for colon section measurements
  

7:02 am GW Pharma announces that the USPTO has issued a Notice of Allowance for a patent application which covers the use of cannabidivarin for treating epilepsy (GWPH) : The subject patent claims cover CBDV, a non-psychoactive cannabinoid extracted from the cannabis plant, for use in the treatment of patients with epilepsy and specifically for the control of generalised or temporal lobe seizures. This patent covers CBDV alone or in combination with standard anti-epileptic drugs. The issued patent from this application will provide an exclusivity period until 30 March 2031. In addition to CBDV, GW continues to advance its product candidate Epidiolex, a liquid formulation of pure cannabidiol. GW recently commenced two Phase 3 clinical trials of Epidiolex in Dravet syndrome and expects to commence two Phase 3 clinical trials in Lennox-Gastaut syndrome in the second quarter of 2015. GW also recently announced its intent to commence clinical development of Epidiolex in an additional pediatric epilepsy indication, Tuberous Sclerosis Complex (TSC), and expects to commence Phase 3 clinical development in TSC later this year.

7:02 am Tetraphase Pharmaceuticals announces the presentation of results from its Phase 3 Trials of Eravacycline; candidate met the primary endpoint of statistical non-inferiority of clinical response (TTPH) : In IGNITE1, eravacycline met the primary endpoint of statistical non-inferiority of clinical response at the test-of-cure visit. The primary analysis under the U.S. Food and Drug Administration guidance was conducted using a 10% non-inferiority margin in the microbiological intent-to-treat population (n=446).

• Under the European Medicines Agency guidance, the primary analysis was conducted using a 12.5% non-inferiority margin of the clinically evaluable  patient population. In the micro-ITT population, 86.8% of patients receiving eravacycline achieved a clinical cure compared to 87.6% of patients receiving ertapenem. The most common Gram-negative pathogens in the study included Escherichia coli, Klebsiella pneumonia and Pseudomonas. 
• Eravacycline achieved high cure rates against these pathogens, as well as in patients with Acinetobacter baumannii and in patients with suspected ESBL-producing pathogen isolates. There were no drug-related serious adverse events in the trial. 
• The most commonly reported drug-related adverse events for eravacycline were gastrointestinal, including nausea and emesis
  

7:01 am Oxford Immunotec announces that it had gained CE Marking for its T-SPOT.CMV test (OXFD) : The test is available now as a CE-marked kit in the EU, and will soon be available in the UK as a testing service from our UK ODL laboratory. T-SPOT.CMV is also available in the US as a Laboratory Developed Test from the Company's CLIA-certified and CAP accredited ODL service laboratory

7:01 am Merrimack Pharma and Baxter BioScience announce completion of new drug application submission to U.S. FDA for MM-398 as a treatment for post-gemcitabine metastatic pancreatic cancer (MACK) :

• Co and Baxter International (BAX) jointly announced that Merrimack has completed the rolling submission of the New Drug Application (:NDA) for MM-398 (irinotecan liposome injection), also known as "nal-IRI," to the U.S. Food and Drug Administration (:FDA).
• Merrimack is seeking U.S. marketing approval of MM-398 for the treatment of patients with metastatic adenocarcinoma of the pancreas who have been previously treated with gemcitabine-based therapy. The companies also announced that Merrimack has requested priority review of the MM-398 NDA by the FDA.
• Merrimack's application is based upon the results of an international Phase 3 study (NAPOLI-1) conducted in patients with metastatic pancreatic cancer who previously received gemcitabine-based therapy.
• MM-398 in combination with 5-fluorouracil (5-FU) and leucovorin achieved its primary and secondary endpoints by demonstrating a statistically significant improvement in overall survival, progression free survival and overall response rate compared to the control group of patients who received a combination of 5-FU and leucovorin.
  

7:00 am Horizon Pharma announces US PTO issuance of a patent that covers its PENNSAID product, with expiration in 2027 (HZNP) :  

7:00 am China Cord Blood announces receipt of 'going private' proposal from Golden Meditech Holdings for $6.40/share in cash (CO) : According to the proposal letter, which is dated April 27, 2015, the proposed transaction is intended to be financed with a combination of available cash resources of Golden Meditech and debt and equity capital. In connection with the proposed transaction, Golden Meditech also intends to acquire all of the 7% senior convertible notes of the Company pursuant to the terms and conditions of such convertible notes. A copy of the proposal letter is attached to this press release. The Company expects that its board of directors will form a special committee of independent directors to consider the proposed transaction.

7:00 am Conn's announces an offer to exchange up to $250 mln aggregate principal amount of its unregistered 7.250% Senior Notes due 2022 for an equivalent amount of 7.250% Senior Notes due 2022 (CONN) :  

7:00 am Asian Markets Close: Japan's Nikkei -0.2%; Hong Kong's Hang Seng +1.3%; China's Shanghai Composite +3.0% (:SUMRX) : Overall, it was a somewhat mixed outing for Asian-Pacific markets on Monday, yet it was another gangbuster day for the Shanghai Composite, which soared 3.0% on the back of continued buying momentum from retail investors and speculation the government is considering merging state-owned enterprises.

Economic data

• China
• March Industrial Profits -0.4% year-over-year (prior -4.2%)
• Q1 Industrial Profits -2.7% year-over year

Equity Markets

• Japan's Nikkei declined 0.2% with losses in the financial (-0.6%), energy (-0.6%), and consumer cyclical (-0.6%) sectors weighing on matters. Shiseido Co (-5.0%), Mitsubishi Motors (-4.1%), and Sumitomo Dainippon Pharma Co (-3.6%) topped the list of decliners. Nippon Paper Industries (+5.1%) and NEC Corp (+4.9%) paced the winners. Out of the 225 index members, 83 ended higher, 132 finished lower, and 10 were unchanged.
• Hong Kong's Hang Seng increased 1.3%. The energy (+3.9%), technology (+1.4%), and financial (+1.0%) sectors were the biggest movers. Individual standouts included China Petroleum and Chemical Corp (+7.2%), PetroChina (+6.7%), Kunlun Energy (+4.8%), HSBC Holdings (+3.6%), and China Unicom Hong Kong (+2.8%). China Mengniu Dairy (-1.9%) and Belle Intl (-1.7%) were the only stocks to drop more than 1.0%. Out of the 50 index members, 40 ended higher and 10 finished lower.
• China's Shanghai Composite increased 3.0%. According to a Bloomberg report, the rally was fueled in part by speculation that the government is considering merging state-owned enterprises. The energy (+4.5%) and industrial (+2.2%) sectors were the biggest movers in the Chinese market on Monday, with the latter bumping up after a report showing industrial profits were down 0.4% in March year-over-year versus a 4.2% decline in the first two months. Sinopec Shanghai Petrochemical, Guangshen Railway, China Petroleum & Chemical, and Air China all rose by the daily limit of 10%.
• India's Sensex declined 1.0%. Losses were paced by the consumer non-cyclical (-2.5%), communications (-2.0%), and financial (-1.5%) sectors. Bharat Heavy Electricals (-3.3%), State Bank of India (-3.1%), and Dr Reddy's Laboratories (-2.8%) topped the list of decliners. Maruti Suzuki India (+3.0%), Sesa Sterlite (+2.5%), and Wipro (+2.0%) were the only stocks that gained in excess of 1.0%.
• Australia's S&P/ASX 200 increased 0.8%, bolstered by a jump in iron ore prices. The metals & mining (+2.1%), resources (+2.0%), and materials (+1.7%) sectors were the biggest movers. Fortescue Metals Group climbed 16.3% and was the best-performing stock in the index.
• Regional advancers: Taiwan +0.6%, Philippines +0.1%
• Regional decliners: South Korea -0.1%, Malaysia -0.2%, Thailand -0.4%, Indonesia -3.5%, Vietnam -0.6%

FX

• USD/CNY +0.4% at 6.2190
• USD/INR -0.4% at 63.518
• USD/JPY +0.3% at 119.33
  

6:51 am Ship Finance Intl announces the acquisition of eight Capesize dry-bulk carriers for $272 mln (SFL) : The vessels are named Golden Beijing, Golden Zhoushan, Golden Magnum, Battersea, Belgravia, Golden Zheijang, Golden Future and KSL China and were built in Korea and China between 2009 and 2013. The total acquisition price will be $272 million, or $34 million on average per vessel.

• The vessels are expected to be delivered to Ship Finance within July 2015. 
  
• The vessels will be chartered on a time-charter basis to a subsidiary of Golden Ocean for a period of 10 years. The daily base charter rate will be $17,600 during the first seven years, and $14,900 thereafter. In addition, there will be a 33% profit share for revenues above the base rate, calculated and paid on a quarterly basis.
  

6:47 am Laboratory Corp beats by $0.10, misses on revs; guides FY15 EPS in-line (LH) : Reports Q1 (Mar) earnings of $1.73 per share, $0.10 better than the Capital IQ Consensus Estimate of $1.63; revenues rose 23.8% year/year to $1.77 bln vs the $1.79 bln consensus.

• Co issues in-line guidance for FY15, sees EPS of $7.55-7.90 vs. $7.61 Capital IQ Consensus Estimate; sees net revenue growth (assuming foreign exchange rates effective as of March 31, 2015) of 39% to 42%, after the impact from approximately 230 basis points of negative currency due to the strengthening U.S. Dollar.
  
• Net revenue growth in LabCorp Diagnostics of approximately 3% to 5%, after the impact from approximately 70 basis points of negative currency.
  

6:41 am Inogen beats by $0.05, beats on revs; confirms profit, raises rev guidance; audit investigation revealed five employees falsified sales documentation (negligible impact to Q4 sales) (INGN) : Reports Q4 (Dec) earnings of $0.07 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.02; revenues rose 47.0% year/year to $29.1 mln vs the $26.59 mln consensus. 

• Total units sold increased to approximately 8,900 in Q4 2014, up 85.4% from Q4 2013.

Co issues in-line guidance for FY15, raises FY15 revs to $133-137 mln from $130-135 mln vs. $136.75 mln Capital IQ Consensus. 

• Inogen confirmed its 2015 Adjusted EBITDA to a range of $27 to $30 million, representing an ~increase of 12.7% to 25.2% over 2014. The Company confirmed its 2015 net income to be in the range of $8 to $9.5 million, representing an ~increase of 17.2% to 39.2% over 2014. 
  

6:33 am Rovi issues additional letter to shareholders encouraging them to vote for ALL on the BLUE proxy card, believes Engaged Capital nominees have a consistent track record of stockholder value destruction (ROVI) :  

6:32 am OncoGenex executed a termination agreement with Teva Pharmaceuticals (TEVA) under which the it will regain rights to Custirsen (OGXI) : The transfer of rights occurs in connection with the termination of the 2009 collaboration agreement between OncoGenex and Teva. The agreement between the two parties to terminate the collaboration includes a $23.2 million payment from Teva.

• The payment reflects a $27 million advance reimbursement amount less $0.8 million for expenses incurred by Teva in 2015 prior to the termination date as well as a $3 million holdback amount that may be used to settle additional expenses incurred by Teva related to the continued development of custirsen as well as certain indemnity claims. 
• One half of the then remaining balance of the holdback amount will be released to OncoGenex in October 2015 with a further half of the then remaining amount paid in January 2016. Any final remaining amount will be released in April 2016. 
• In addition, OncoGenex will take over responsibility for all custirsen expenses, including those related to the ENSPIRIT trial, as well as manufacturing and regulatory activities for custirsen programs that were previously managed by Teva. 
• Co expects that the $23.2 million payment from Teva and the Company's current resources should enable the completion of the AFFINITY trial through data readout in late 2015 or early 2016, allow for the continuation of the ENSPIRIT trial through the second interim futility analysis expected in mid-2015, and facilitate the achievement of key apatorsen clinical milestones, such as the completion of patient enrollment in the Borealis-2 trial and final data from the Spruce and Rainier clinical trials.

6:32 am Aehr Test Systems announces a $6 million order for a FOX-15 Multi-Wafer Burn-In System (AEHR) : The order includes prepayments in order to lock in lead times and volume-related discounts and is expected to ship within the next six months.

6:31 am LSB Industries and Starboard Value reach agreement regarding corporate governance and board composition; Company to add five new independent directors, announces intention to separate chemicals and climate control businesses and to explore MLP structure for chemicals business (LXU) : Under the agreement, Starboard has agreed, among other things, not to solicit proxies or participate in any "withhold" campaign in connection with the 2015 Annual Meeting and to vote its shares in support of all of the Company's director nominees. Starboard has also agreed to vote all of its shares in accordance with the Board's recommendation with respect to the Company's say-on-pay proposal, subject to the recommendation of Institutional Shareholder Services. 

• "We remain committed to enhancing stockholder value, and we believe the improvements we are making to increase capacity and upgrade facilities will position LSB for enhanced growth and profitability. We are therefore pleased to announce our intention, once our El Dorado facility expansion projects have been completed and brought online in 2016, to the extent market conditions allow and subject to Board approval, to separate the Company's Chemicals business from its Climate Control business and to explore an MLP structure for the Chemicals business."
  
• In addition, the responsibilities of the Strategic Committee of the Board, which was formed in June 2014, will be expanded to include an evaluation of Company's corporate governance and management structure, related party transactions and any other governance practices of the Company deemed appropriate by the Strategic Committee.
  
• The Company also agreed to form an independent Board Committee to oversee the Company's previously announced executive search for a President of the Chemicals business; this committee will consist of Messrs. Daniel D. Greenwell, Sanders, Mittag and White. As previously announced the company is working with executive search firm Spencer Stuart to assist in the search.
  

6:31 am Fuel Systems Solutions CEO Mariano Costamagna announces he will retire by the end of 2015; co has appointed a search committee to commence the search for a new CEO (FSYS) :  

6:30 am Echo Global Logistics announces an offering of 5 mln shares of common stock and $150 mln in convertible senior notes due 2020 (ECHO) : The Notes will pay interest semiannually and will be convertible into cash, shares of Common Stock, or a combination of cash and shares of Common Stock at the Company's election. The Notes will mature on May 1, 2020. If the purchase agreement relating to the Company's previously announced pending acquisition of Command Transportation is terminated, the Company may redeem all of the outstanding Notes for cash on a redemption date to occur on or prior to November 3, 2015.

• Company currently intends to use the net proceeds of the Offerings to fund a portion of the purchase price of the Command Acquisition. In the event that the Command Acquisition is not consummated, the Company intends to use the net proceeds from the Offerings to fund the redemption of the Notes and for working capital and general corporate purposes
  

6:27 am Precision Drilling beats by C$0.03, beats on revs (PDS) : Reports Q1 (Mar) earnings of C$0.08 per share, C$0.03 better than the Capital IQ Consensus Estimate of C$0.05; revenues fell 24.9% year/year to C$512.1 mln vs the C$488.35 mln consensus, mainly due to lower drilling activity in the U.S. and Canada.

• Revenue from our Contract Drilling Services and Completion and Production Services segments decreased over the comparative prior year period by 22% and 36%, respectively. 
• "Our current expected capital plan for 2015 is $506 million, an increase of $39 mln compared to the $467 mln capital plan announced in February 2015. The increase relates to changes in the forecasted foreign exchange rate on U.S. dollar denominated capital. 
• Of the 17 new-build contracted drilling rigs scheduled for delivery in 2015 (13 in the U.S., three in Canada and one internationally) ten were delivered in the first quarter."
  

6:21 am INC Research Holdings beats by $0.14, reports revs in-line; raises FY15 EPS above consensus, reaffirms revs in-line (INCR) : Reports Q1 (Mar) earnings of $0.42 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of $0.28; revenues rose 14.5% year/year to $211.5 mln vs the $211.11 mln consensus.

• Co issues guidance for FY15, raises EPS of $1.40-1.52 from $1.19-1.29 vs. $1.25 Capital IQ Consensus Estimate; reaffirms FY15 revs of $870-900 mln vs. $887.89 mln Capital IQ Consensus Estimate. 
• Credit Agreement & Share Repurchase: In April 2015, the Company arranged the terms of a new $675 mln credit agreement comprised of a $525 mln term loan and a $150 mln revolving credit facility. The Company expects to enter into the 2015 Credit Agreement in the second quarter of 2015 upon satisfaction of customary closing conditions. The Company anticipates using the proceeds from the $525 mln term loan and cash on hand to repay the outstanding term loan under its existing 2014 Credit Agreement, pay the transaction costs associated with the 2015 Credit Agreement and repurchase up to $150 mln of its Class A common stock.

6:12 am Starbucks announces resolution of point-of-sale register outage in the US and Canada, with affected stores opening normally for business (SBUX) :  

6:09 am Haemonetics misses by $0.05, misses on revs; guides FY16 EPS below consensus, revs in-line (HAE) : Reports Q4 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.52; revenues fell 6.1% year/year to $226.5 mln vs the $239 mln consensus.

• Co issues guidance for FY16, sees EPS of $1.98-2.08, excluding non-recurring items, vs. $2.09 Capital IQ Consensus Estimate; sees FY16 revs of +4-6% to ~$946.2-965.0 mln vs. $957.06 mln Capital IQ Consensus Estimate. Overall fiscal 2016 revenue is expected to grow 4-6% on a reported basis and 7-9% in constant currency. 
• Outlook Details: Plasma collections remain strong and the Company expects 10-12% growth in Plasma disposables on a reported basis and 12-14% growth on a constant currency basis, including saline and citrate solutions. Blood center revenue in the U.S. will continue to be pressured by lower volumes, but at a lesser rate; the Company expects blood center revenue to decline 4-6% on a reported basis but to decline only 0-2% in constant currency.

6:05 am iGATE to be acquired by Capgemini (CGEMY) for $48 per share (IGTE) : Capgemini (CGEMY) and IGATE (IGTE) announced that they have entered into a definitive merger agreement under which Capgemini will acquire IGATE for a cash consideration of $48 per share. The transaction will amount to $4.0 billion and is expected to be immediately accretive to Capgemini's normalized Earnings Per Share (EPS)1. The merger agreement has been approved unanimously by both Capgemini's and IGATE's Board of Directors. The transaction has also been approved by the written consent of shareholders holding a majority of IGATE's shares.

• This transaction would lead to a group with an estimated combined revenue of 12.5 billion in 2015, an operating margin above 10% and around 190,000 employees. The combined Group will pass the 100,000 employees landmark in its Rightshore delivery centers in 2015.
  

6:04 am Sino Mercury Acquisition has entered into a definitive agreement to merge with Wins Finance Group Ltd. (SMAC) : Wins is an integrated lending solution provider mainly serving small-and-medium sized enterprises in Shanxi Province, China. Pursuant to the definitive agreement, upon consummation of the share exchange, the shareholders of Wins will receive (1) an amount of cash remaining in Sino's trust fund after payment of all amounts to public stockholders that exercise their conversion rights, less $5,000,000 ("cash consideration"), provided that the cash consideration shall not exceed $25,000,000, and (2) a number of ordinary shares of Holdco equal to $168,000,000 less the cash consideration divided by $10.00("stock consideration"). 

• In connection with the transaction, Holdco will apply to have its shares listed on the Nasdaq Capital Market under the new ticker symbol "WINS". Following the transaction, the combined organization will be co-led by Sino's CEO Jianming Hao and Wins' CEO Renhui Mu. 

6:01 am Nord Anglia Education acquires a portfolio of six schools from Meritas, for $575 mln in cash (NORD) : As of March 31, 2015, the six Meritas schools had approximately 8,625 full-time equivalent students with total capacity of 11,380 seats. In the fiscal year ended June 30, 2014, the schools generated average revenue per FTE of approximately $25,600.

• As part of the transaction, Nord Anglia Education will also acquire a non-controlling interest in Leman Manhattan Preparatory School in New York City with the possibility of acquiring 100% of the school in the future subject to certain conditions being met. 
• In connection with this investment, Nord Anglia Education and Meritas have agreed that Leman Manhattan will become a Nord Anglia Education affiliate school. 
• The acquisition is expected to be accretive to Adjusted Earnings per Share in fiscal 2016.
  

5:59 am Lake Share Gold announces results from an additional 22 drill holes and five wedge holes, involving 29,089 metres of drilling, at its 144 Exploration Area (LSG) : Six holes and three wedge holes (Hwy-15-90, 91, 94, 97, 98, 102, 48W2, 52W1 and 52W2) tested near the current western limit of the 144 Gap Zone. Results from the holes confirm the presence of a wide, high-grade core and expand both the Zone and the high-grade core by a minimum of 50 m westwards. An additional six holes and one wedge hole (Hwy-15-87, 95, 99, 100, 105, 106 and 87W1) from the new program were drilled to test mineralization near the previous upper limit of mineralization and extended the zone by a minimum of 50 m up dip of previous results to within 600 m of surface. Ten holes and one wedge hole (Hwy-15-83, 85, 86, 88, 89, 92, 93, 96, 101, 103 and 63W1) were drilled towards untested gaps located to the northeast of the thick, high-grade core and encountered several new zones.

5:55 am S&P futures vs fair value: flat. Nasdaq futures vs fair value: +8.80. :

5:55 am European Markets : FTSE...7046.19...-24.50...-0.40%.  DAX...11788.66...-22.20...-0.20%.

5:55 am Asian Markets : Nikkei...19983.32...-36.70...-0.20%.  Hang Seng...28433.59...+372.60...+1.30%.

4:54 am Nokia reaffirms it currently has no plans to manufacture or sell consumer handsets (NOK) : Co notes recent news reports claiming the company communicated an intention to manufacture consumer handsets out of a R&D facility in China. These reports are false, and include comments incorrectly attributed to a Nokia Networks executive. Nokia reiterates it currently has no plans to manufacture or sell consumer handsets.

4:39 am On The Wires (:WIRES) :

• To meet increasing demand for its world-leading marine products and services, Northrop Grumman (NOC) Sperry Marine business unit has selected Marine Electricals as its sales and service representative for the United Arab Emirates. 
• Global Sources (GSOL) has now fully launched its suite of services for the fashion industry. The fashion industry ecosystem connects a specialized community of buyers and suppliers through content, communication and five media channels -- an online marketplace, a magazine, alerts, a mobile app and trade shows.
• Kosmos Energy (KOS) announced today that the Tortue-1 exploration well, drilled to test the Tortue West prospect, which forms part of the Greater Tortue Complex, in Block C-8 offshore Mauritania has made a significant, play-opening gas discovery. 

4:20 am On The Wires (:WIRES) :

• City National (CYN), the parent company of wholly owned City National Bank, announced a new $11 billion, five-year commitment for community lending, investment, charitable contributions, supplier diversity and other activities outlined in the Community Reinvestment Act 
• FirstEnergy Nuclear Operating Company, a subsidiary of FirstEnergy Corp. (FE), announced its Perry Nuclear Power Plant in Perry, Ohio, returned to service at 5:27 p.m. today following a March 9, 2015, shutdown for refueling and maintenance. The 1,268-megawatt unit is currently operating at 22 percent power. Power levels will vary over the next several days as part of routine testing. The plant is expected to reach full power in the next several days. 
• Williams Partners L.P. (WPZ) announced its Geismar, La. olefins plant resumed consistent operations in late March and is expected to produce ethylene at the base plant's production rate through May. The process to achieve its full expanded production rate will be ongoing through June.

3:38 am Volkswagen Chairman Ferdinand Pich resigns (VLKAY) : Co announces the members of the Executive Committee have unanimously determined that in view of the background of the last weeks the mutual trust necessary for successful cooperation no longer exists. Therefore, Dr. Ferdinand Pich has resigned with immediate effect from his position as Chairman of the Supervisory Board and from all his mandates as a Supervisory Board member within the Volkswagen Group.

• In addition, Ursula Pich has resigned with immediate effect from all her Supervisory Board mandates within the Volkswagen Group.
• The position of Chairman of the Supervisory Board will be temporarily assumed by the Deputy Chairman Berthold Huber. 
• Berthold Huber will chair both the Supervisory Board meeting on May 4 as well as the Annual General Meeting on May 5, 2015.

3:09 am Applied Materials and Tokyo Electron (TOELY) agree to terminate business combination agreement; announces $3 bln share repurchase authorization (AMAT) : Applied Materials and Tokyo Electron announced that they have agreed to terminate their Business Combination Agreement. No termination fees will be payable by either party. The decision came after the U.S. Department of Justice advised the parties that the coordinated remedy proposal submitted to all regulators would not be sufficient to replace the competition lost from the merger. Based on the DoJ's position, Applied Materials and Tokyo Electron have determined that there is no realistic prospect for the completion of the merger.

Share repurchase
Applied Materials also announced that its Board of Directors has approved a new share repurchase program authorizing up to $3 billion in repurchases over the next three years beginning in the third quarter of fiscal 2015.

3:07 am Randgold Resources reports Tongon on track to achieve 2015 targets (GOLD) : Randgold Resources' Tongon gold mine in Cte d'Ivoire is on track to achieve its production and cost guidance for 2015 after a year in which its management made significant progress in dealing with the recovery and throughput challenges that had hampered the operation in its early stages.

• The mine is forecasting production of some 260 000 ounces of gold at a total cash cost of $820 per ounce in 2015. At the current gold price, it should be able to repay its capital this year as scheduled. 
• In the meantime, continuing exploration has replaced all the reserves consumed by mining in 2014, effectively extending Tongon's life by a year.
  

3:04 am Kosmos Energy provides update on Ghana and Cte d'Ivoire Maritime Boundary arbitration (KOS) : Co announced that the Special Chamber of the International Tribunal of the Law of the Sea has issued its order in response to the provisional measures requested by the Government of Cte d'Ivoire in its ongoing maritime boundary dispute with the Government of Ghana.

• ITLOS rejected the request that Ghana suspend all ongoing exploration and development operations in the disputed area in which the Tweneboa, Enyenra, and Ntomme (TEN) project is situated until ITLOS gives its decision on the maritime boundary dispute, which is expected in late 2017. ITLOS ordered Ghana to suspend new drilling in the disputed area. 
• Kosmos is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order. However, we fully expect TEN development activities will continue as planned. 
• The project is now more than 55 percent complete with all of the wells expected to be online at first oil already drilled. First oil is expected in the second half of 2016. 

2:51 am Perfect World enters into definitive agreement for going private transaction (PWRD) : Co announced that it has entered into an Agreement and Plan of Merger with Perfect Peony Holding Company, owned by Michael Yufeng Chi, the Company's founder and chairman of the board of directors, and Perfect World Merger Company, a wholly owned subsidiary of Parent.

• Subject to satisfaction of the Merger Agreement's terms and conditions, Merger Sub will merge with and into the Company, with the Company continuing as the surviving corporation and a wholly owned subsidiary of Parent 
• Pursuant to the Merger Agreement, at the effective time of the Merger, each of the Company's ordinary shares issued and outstanding immediately prior to the effective time of the Merger will be cancelled and cease to exist in exchange for the right to receive $4.04 in cash without interest, and each American Depositary Share of the Company, which represents five class B ordinary shares, will be cancelled in exchange for the right to receive $20.20 in cash 
  

2:48 am Corinthian Colleges announces cessation of effectively all operations; all campuses closed effective Monday, April 27 (COCO) : Co announced that the Company has ceased substantially all operations and discontinued instruction at its remaining 28 ground campuses. The company is working with other schools to provide continuing educational opportunities for its ~16,000 students. Corinthian said those efforts depend to a great degree on cooperation with partnering institutions and regulatory authorities.

• Campuses closed include Corinthian's 13 remaining Everest and WyoTech campuses in California, Everest College Phoenix and Everest Online Tempe in Arizona, the Everest Institute in New York, and 150-year-old Heald College-including its 10 locations in California, one in Hawaii and one in Oregon. 
  

2:41 am Ellomay Capital reports exercise of option to acquire 9% of U. Dori Energy Infrastructures (ELLO) : Co reported that it provided a notice of exercise of its option to acquire an additional 9% of the share capital of U. Dori Energy Infrastructures, which currently holds 18.75% of Dorad Energy. Following the exercise of the Option, the Company's holdings in Dori Energy will increase from 40% to 49% and the Company's indirect ownership of Dorad will increase from 7.5% to approximately 9.2%.

2:37 am Regulus Therapeutics announces late-breaking oral presentation highlights RG-101's potent, durable and pan-genotypic effects in diverse HCV population (RGLS) : Co presented new data strengthening the profile of RG-101, a wholly-owned, GalNAc-conjugated anti-miR targeting microRNA-122 for the treatment of HCV, during an oral late-breaking session at ILC 2015 in Vienna, Austria. Extended follow-up results evaluating a single subcutaneous administration of either 2 mg/kg or 4 mg/kg of RG-101 as monotherapy in HCV patients with varied genotypes, liver fibrosis status and treatment history showed that 10/22 patients had HCV RNA levels below the limit of quantification at 12 weeks and 70 percent of those patients remained BLOQ at 20 weeks (7/10). In addition, the positive results that were previously reported from the completed clinical study of RG-101 were reviewed during the oral late-breaker.

2:34 am Enanta Pharmaceuticals announces preliminary data from AbbVie's Phase 3b RUBY-I Study in chronic Hepatitis C patients with renal impairment (ENTA) : Co announced today new preliminary safety and efficacy data from the first cohort of AbbVie's ongoing, Phase 3b RUBY-I study. RUBY-I is evaluating the regimen of VIEKIRAX + EXVIERA with or without ribavirin in treatment-nave, non-cirrhotic, genotype 1 chronic hepatitis C patients with severe renal impairment, including those on hemodialysis. The primary endpoint of the study is the percentage of patients achieving sustained virologic response at 12 weeks post-treatment. The first ten patients, or 100 percent, who have reached post-treatment week four to date achieved SVR

2:31 am AbbVie presents late-breaking, preliminary Phase 3b data with VIEKIRAX + EXVIERA in chronic Hepatitis C patients with renal impairment (ABBV) : Co announced new, preliminary safety and efficacy data from the first cohort of its ongoing, Phase 3b RUBY-I study. RUBY-I is evaluating VIEKIRAX  with or without ribavirin (:RBV) in treatment-nave, non-cirrhotic, genotype 1 chronic hepatitis C patients with severe renal impairment, including those on hemodialysis. The primary endpoint of the study is the percentage of patients achieving sustained virologic response at 12 weeks post-treatment. Patients who reached post-treatment week four to date achieved 100% SVR.

• Additionally, RUBY-I data showed no virologic failures to date.1 Preliminary safety analyses reported that patients experienced mainly mild or moderate adverse events when receiving VIEKIRAX + EXVIERA with or without RBV, most commonly (>20%) anemia, fatigue, diarrhea, nausea, dizziness and headache. 
• To date, eight of 13 genotype 1a patients had a RBV dose interruption
  

2:27 am Achillion Pharma presents detailed clinical results on ACH-3102 and ACH-3422 at the International Liver Congress (ACHN) : Co presented late breaker posters at the 50th Annual Meeting of the European Association for the Study of the Liver during The International Liver Congress 2015.
Data highlights from all of the presentations include:

• LP06: Sustained virologic response after ACH-3102 and sofosbuvir treatment for 8 or 6 weeks: A phase 2 "proxy" study ACH102-017. ePoster Presentation, April 25, 3:30 pm CET, Hall B ePoster Area. Lead Author: Edward Gane.
• As previously reported, 100% of patients achieved SVR12 after six- or eight-weeks of treatment in this ongoing interferon-free, ribavirin-free study evaluating the efficacy, safety, and tolerability of 50 mg of ACH-3102 and 400 mg of sofosbuvir, a marketed nucleotide polymerase inhibitor, in treatment-nave genotype 1 HCV-infected patients. 
  
• This represents the first study to report 100% SVR12 in patients with chronic GT-1 HCV infection using a two-drug combination for 6 weeks. 
  
• Complete virologic responses were seen in all patients, including those who were considered harder to treat than others (i.e. GT-1a, non-CC and VL > 6 million IU/mL). 
  
• The combination of ACH-3102 with sofosbuvir was well tolerated, with no treatment discontinuations, a low incidence of AEs, and no reported significant AEs or SAEs during the treatment and follow-up periods. 
  
• The present study provides support for future studies which will explore the use of ACH-3102 in sofosbuvir-sparing regimens with short-treatment durations. 
  
• In parallel, further studies will explore the combination of ACH-3102 and ACH-3422 (with and without sovaprevir, an NS3 protease inhibitor) in interferon- and ribavirin-free regimens with short treatment durations across different patient populations. 
  

1:58 am Celladon reports negative results for CUPID2 trial of MYDICAR in advanced heart failure; investigational gene therapy fails to meet primary and secondary endpoints (CLDN) : Co announced that its Phase 2b CUPID2 trial did not meet its primary and secondary endpoints. CUPID2 is a randomized, double-blind, placebo-controlled, multinational trial evaluating a single, one-time, intracoronary infusion of the cardiovascular gene therapy agent MYDICAR versus placebo added to a maximal, optimized heart failure drug and device regimen.

• In the study, the primary endpoint comparison of MYDICAR to placebo resulted in a hazard ratio of 0.93, defined as heart failure-related hospitalizations or ambulatory treatment for worsening heart failure. 
• The secondary endpoint comparison of MYDICAR to placebo, defined as all-cause death, need for a mechanical circulatory support device, or heart transplant, likewise failed to show a significant treatment effect. 
• The efficacy endpoint analyses were performed on the modified intent to treat population, which excludes clinical events that occurred in patients who did not receive MYDICAR or placebo, or which occurred prior to dosing. 
• All other exploratory efficacy endpoints (improvement in New York Heart Association classification, 6 Minute Walk Test, and Quality of Life) were also inconsistent with a treatment effect. No safety issues were noted.
  

1:23 am Gilead Sciences announces results from studies evaluating Sofosbuvir-based regimens in chronic Hepatitis C patients with genotypes 2-5 (GILD) : Co announced results from two studies evaluating the safety and efficacy of investigational uses of sofosbuvir-based regimens in chronic hepatitis C virus-infected patients with genotypes 2, 3, 4 and 5. Results from the BOSON study of Sovaldi in combination with ribavirin or with pegylated interferon/RBV demonstrated high cure rates across all patients with genotypes 2 and 3. Separately, results from a Phase 2 study demonstrate the safety and efficacy of Harvoni in patients with genotypes 4 or 5 infection. 

• Sovaldi and Harvoni are each approved in the United States for the treatment of chronic HCV infection. Sovaldi is used in combination with other agents and its efficacy has been established in patients with genotypes 1-4; Harvoni is indicated for patients with genotype. 
  

1:20 am Theravance Biopharma reports new data shows greater in vitro potency for VIBATIV against multidrug-resistant gram-positive bacteria, including MRSA, compared to alternative antibiotic treatments (TBPH) : Co announced new positive data from studies of VIBATIV, the Company's FDA-approved antibiotic. These studies' results will be the focus of presentations at the 25th European Congress of Clinical Microbiology and Infectious Diseases, being held over the next several days in Copenhagen, Denmark.

• Results from these studies demonstrated the in vitro potency for VIBATIV against a broad collection of contemporary clinical pathogens (Staphylococcal and Streptococcal spp.) from hospitals in Europe and surrounding geographic regions during 2012-2013, including methicillin-resistant Staphylococcus aureus (:MRSA). 
• The findings demonstrated greater in vitro activity for VIBATIV in difficult-to-treat Gram-positive pathogens as compared to other well-known antibiotics such as vancomycin, daptomycin and linezolid. 
• The potency differences for VIBATIV, as compared to the other antibiotics, were most significant when the target pathogen was categorized as multidrug-resistant
  

1:15 am On The Wires (:WIRES) :

• Cancer experts have reported how a Varian Medical Systems (VAR) supported project in the area of distributed learning is helping to harness the power of "big data" for the benefit of patients. Speakers at a Varian-hosted symposium at the 3rd ESTRO forum in Barcelona detailed the importance of gaining knowledge from each treatment and applying that knowledge to help benefit the next patient. 
• IAMGOLD (IAG) reports with deep regrets that a member of the Company's Exploration team in Mali has passed away from injuries sustained in an accident, after the vehicle in which he was travelling, according to preliminary reports, hit a tree after leaving the road. 
• Accenture (ACN) has added Deloitte Consulting LLP as the newest member of the Accenture Duck Creek Global Alliance Partner Program. The exclusive program is comprised of 24 members across three partner categories -- Delivery, Solution, and Technology -- that play a key role in providing complementary software services and solutions to insurers of all sizes.