Petroleo Brasileiro

Published : June 14th, 2015

10:31 am Petrobras Brasileiro announced May oil and natural gas production of 2.76 mln boed, down 0.7% M/M and up 6.2% Y/Y

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10:31 am Petrobras Brasileiro announced May oil and natural gas production of 2.76 mln boed, down 0.7% M/M and up 6.2% Y/Y

10:53 am Gulf Island Fab receives a letter of intent for the fabrication of six jacket/piles and deck sections for a U.S. customer (GIFI) :  

10:43 am Embraer SA releases its 2015-2034 Market Outlook (ERJ) : The report focuses on the 70 to 130-seat capacity category which is valued at USD300 billion during that period. Embraer projects deliveries of 6,350 jets - 2,250 units in the 70 to 90-seat segment and 4,100 units in the 90 to 130-seat segment. The 70 to 130-seat jet world fleet-in-service will increase from 2,590 aircraft in 2014 to 6,490 by 2034, the fastest growing among all aircraft seat segments. Replacement of ageing aircraft will represent 39% of new deliveries and 61% will represent market growth. 

  • Expects worldwide demand for air transport, measured by revenue passenger kilometers, will increase 2.6 fold at an average of 4.9% annually through 2034.

10:23 am Semi SMH displaying relative strength in recent action sets minor to rebound/session high (SMH) :  

10:19 am United Continental will add 10 Embraer (ERJ) E175 aircraft to its fleet (UAL) : Additionally, United expects that the airline or one of the carriers that operate as United Express will convert 18 more E175 aircraft to firm orders in the near term.

10:11 am Raytheon and Kongsberg sign agreement to extend their partnership on the National Advanced Surface-to-Air Missile System for 10 years (RTN) :  

10:08 am Stock indices slightly extend bounce off morning lows -- Dow -166, S&P -17, Nasdaq Comp -53 (:TECHX) : As noted earlier the S&P probed support at 2074/2072 (session low 2072) with the Dow back near the 50% retrace of the entire 2015 advance at 17694 (session low 17698). The bounce has been relative minor thus far. Sector displaying some relative strength vs. the S&P on the push include: Rail, Transports IYT, Staples XLP, Materials XLB, Restaurant.

10:01 am Textron and GE (GE) sign a letter of intent for GE to acquire 20 Bell 525 Relentless helicopters; delivery expected to begin in late 2017 (TXT) :  

9:56 am Dow -175 back in the red for the year and at a new two month low -- session low 17698 (:TECHX) : The drop to a new session low has brought support at the 50% retracement of the 2015 advance (Feb low, May high) at 17694 into play. The weakest components thus far have been led by: UTX -2.4%, MSFT -1.4%, V -1.4%, MMM -1.4%, IBM -1.2%, CAT -1.2%, CSCO -1.2%, JNJ -1.2%.

9:49 am Relative sector performance (:TECHX) : Losses are broad based with sectors that are underperforming in early trade led by: Steel SLX, Coal KOL, Airline JETS, Software IGV, Mining XME, OIl Service OIH, Networking IGN, Broker IAI, Copper JJC, Pharma PPH, Semi XSD, Crude Oil USO, Technology XLK. Groups on the plus side include: Home Const ITB (RYL, SPF, LEN, PHM, DHI, TOL), Silver SLV, Gold GLD, Gold Miners GDX.

9:49 am Gogo: GOL Linhas Areas Inteligentes (GOL) announced the launch of internet onboard via satellite and an entertainment platform (GOGO) :

  • GOL will become the first Brazilian, South and Central America airline to offer onboard wi-fi internet access during the flight period. 
  • GOL partnered with GOGO to launch the connectivity and entertainment platform.

9:39 am Opening Market Summary: Influential Sectors Lead Opening Retreat (:WRAPX) : As expected, the major averages began the trading day in the red. The S&P trades lower by 0.8% with all ten sectors showing early losses.

The top-weighted technology sector (-1.1%) opened the session behind the remaining nine groups while industrials (-1.0%), financials (-0.9%), and materials (-0.8%) follow not far behind. Conversely, only four sectors-energy (-0.7%), consumer staples (-0.6%), utilities (-0.2%), and telecom services (-0.5%)-trade ahead of the broader market.

Elsewhere, Treasuries remain near their recently-established highs with the benchmark 10-yr yield down eight basis points at 2.32%.

The NAHB Housing Market Index for June (expected 56) will be released at 10:00 ET.

9:37 am MFC Industrial acquires licenced bank in Western Europe; financial considerations not disclosed, and regulatory approval expected within several months (MIL) :  

9:36 am Sharply lower start with S&P -19 pulling back near support -- Dow -191, Nasdaq Comp -53 (:TECHX) : Early pressure in the S&P has left it back near support from The Technical Take congestion and last week/June low at 2074/2072 (session low 2074). 

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

  • APX Labs announced its partnership with Nuance Communications (NUAN) to bring Nuance's voice recognition capabilities to Skylight R5, APX Labs' enterprise software platform for smart glasses
  • Quantum Fuel Systems Technologies Worldwide (QTWW) announced it has developed an innovative 5,000 psi tank for the emerging CNG virtual pipeline market and has shipped the first 100 units to a foreign-based customer.
  • WisdomTree Investments (WETF) announced the hire of Kurt MacAlpine as Executive Vice President-Head of Global Distribution
  • Fortinet (FTNT) announced that Swisscom, a major telecom operator in Switzerland, has selected the FortiGate data center firewall, FortiManager security management appliance and FortiAnalyzer network security logging, analysis and reporting solutions to protect its data center infrastructure
  • Mondelez International (MDLZ) announced the appointment of Mohit Bhalla, as Vice President, Corporate Development
  • Viad Corp (VVI) announced that David Barry has joined the company as president of its Travel & Recreation Group
  • ParkerVision (PRKR) announced that it has modified its retention agreement with litigation firm McKool Smith for its patent infringement litigation currently underway in the middle district of Florida (ParkerVision Inc V. Qualcomm). Under the terms of the amended retention agreement, McKool Smith will handle the ongoing litigation on a full contingent basis. Previously, McKool Smith was retained on a partial contingent basis whereby ParkerVision funded a portion of legal fees and all expenses.

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

  • O2, the commercial brand of Telefnica UK Limited, announced it is deploying Ciena's (CIEN) converged packet optical solutions
  • First Solar (FSLR) announced a world record for cadmium-telluride photovoltaic module conversion efficiency, achieving 18.6 percent aperture efficiency for an advanced full size module.
  • Xylem Inc. (XYL) announced that Jayanthi Iyengar has joined the Company as Senior Vice President and Chief Innovation and Technology Officer, effective June 12, 2015
  • Nimble Storage (NMBL) announced that Grant Street Group has selected the Nimble Adaptive Flash Platform to replace its storage environment that consisted of legacy storage along with an all-flash system
  • Entravision Communications (EVC) announced that it has promoted Jose Villafane to the newly created position of President of Entravision National Sales, effective immediately
  • TriNet (TNET) announced the appointment of Brady Mickelsen as senior vice president, chief legal officer and secretary, effective June 22, 2015

9:17 am Curtiss-Wright is awarded over $480 mln in contracts to supply pumps, valves, generators and propulsors for the U.S. Navy's Block IV Virginia Class Submarine Program (CW) : The Navy's Block IV contracts cover 10 submarines, two per year from fiscal years 2014 through 2018. Thus far, more than $330 million of funding has been allotted to these contracts, with the remaining funding to be provided incrementally.

9:16 am Actavis adopts Allergan as its new global name, to begin trading under symbol AGN today (:ACT) :  

9:15 am S&P futures vs fair value: -14.20. Nasdaq futures vs fair value: -31.10. (:WRAPX) : The stock market is on track for a lower open as futures on the S&P 500 trade 14 points below fair value. Index futures have spent the entire night in negative territory, sliding to lows not long ago after Sunday's talks between Greek officials and the country's creditors broke down during the opening hour, leaving the situation essentially unchanged since last Friday. Cuts to pensions/wages and VAT levels on electricity are reportedly among the main points of contention with the focus now shifting to the Eurogroup meeting on June 18.

Safe-haven demand has boosted U.S. Treasuries, pressuring the benchmark 10-yr yield eight basis points to 2.32%.

On the economic front, the just released Industrial Production report pointed to a decrease of 0.2% in May, which was worse than the 0.3% increase expected by the Briefing.com consensus. Separately, capacity utilization hit 78.1% while the Briefing.com consensus expected a reading of 78.3%.

The NAHB Housing Market Index for June (expected 56) will be released at 10:00 ET.

9:13 am CafePress announces expense management initiatives (PRSS) : Co announced that it intends to move its Bay Area operations into a smaller facility and has therefore entered into a lease termination agreement regarding its current office space in San Mateo, California. Separately, Co announced the transition of its independent registered public accounting firm. Effective immediately, BDO USA, LLP will become the Company's certifying accountant, maintaining high-quality service with lower associated fees. While the full positive impact of these changes may not be realized until 2016 or later, the Company anticipates meaningful reductions in its General and Administrative expense run-rate.

9:05 am Advaxis submits a Special Protocol Assessment request to the FDA to initiate detailed design discussions for a Phase 3 clinical study of ADXS-HPV for the treatment of high-risk, locally advanced cervical cancer (ADXS) : The Phase 3 trial is planned to be conducted in collaboration with the Gynecologic Oncology Group (GOG.V) Foundation, Inc. and to be led by principal investigator Thomas Herzog, M.D., Professor of Obstetrics & Gynecology and Clinical Director at the University of Cincinnati Cancer Institute, Cincinnati, Ohio. The proposed Phase 3 clinical trial (AIM2CERV) is designed as an adequate and well-controlled double-blind, placebo-controlled multinational study of ADXS-HPV (ADXS11-001) administered in the adjuvant setting following concurrent chemoradiation given with curative intent in patients with HRLACC for whom recurrence has not yet occurred.

  • Advaxis plans to initiate the Phase 3 trial by the end of 2015.

9:04 am United Therapeutics receives a paragraph IV notice letter for Tyvaso; co says it intends to vigorously enforce its intellectual property rights relating to Tyvaso (UTHR) : Co announced receipt of a Paragraph IV Certification Notice Letter from Watson Laboratories (Watson) advising that Watson has submitted an Abbreviated New Drug Application (:ANDA) to the U.S. Food and Drug Administration (:FDA) requesting approval to market a generic version of Tyvaso Inhalation Solution.

  • Watson's Notice Letter states that the ANDA contains a Paragraph IV Certification alleging that UTHR patents are not valid, not enforceable and/or will not be infringed by the commercial manufacture, use or sale of the proposed product described in Watson ANDA submission. 
  • Co intends to vigorously enforce its intellectual property rights relating to Tyvaso

9:04 am LiqTech International signs a framework agreement with a new OEM customer, for the delivery of ultra fine sic membranes and housings (LIQT) : The annual revenue under this agreement is estimated to be approximately $1 million. At the same time, the Company also received its first purchase order for $165,000.

9:02 am Reading Intl appoints Ellen M. Cotter as interim President and CEO, succeeding James Cotter (RDI) : Co currently intends to engage the assistance of a leading executive search firm to identify a permanent President and Chief Executive Officer, which will consider both internal and external candidates. Cotter is the Chairman of the Board of Directors of the Company and has served as the senior operating officer of the Company's US cinemas operations for the past 14 years

9:02 am Teekay LNG Partners signs charter contracts with BP for up to two LNG Carrier Newbuilds (TGP) : Co has entered into a 13-year time-charter contract with BP Shipping for one Liquefied Natural Gas (LNG) carrier newbuilding, plus an option exercisable by BP by the end of 3Q15 for one additional LNG carrier under similar terms.

9:02 am Xylem announces that Jayanthi Iyengar has joined as Senior Vice President and Chief Innovation and Technology Officer, effective June 12, 2015 (XYL) : Iyengar joins Xylem from Eaton Corporation, a global power management company, where she most recently served as Group Vice President, Engineering and Technology for the company's Aerospace Group, and Chief Technology Officer.

9:01 am Molycorp to take advantage of the 30-day grace period with respect to the ~$3.36 mln semi-annual interest payment due June 15, 2015 (MCP) :

  • This election by the Company will not trigger any cross-default provisions in other outstanding Company debt prior to the end of the grace period and should not affect current operations. 
  • As previously disclosed, the Company has retained financial and legal advisors to assist the Company in restructuring its debt.

9:01 am Tecogen secures $2 mln line of credit (TGEN) : Co secures a two year $2 mln line of credit from its founder and Co-Chief Executive Officer, John Hatsopoulos. The funds will support the continued growth of the co, and support the short term working capital needs of the co.

9:01 am Lipocine announces the successful completion of a food effect study for LPCN 102, indicating that bioavailability of testosterone from LPCN 1021 is not affected by changes in meal fat content (LPCN) : Co announces the successful completion of its labeling "food effect study" for LPCN 1021, its Oral Testosterone product for hypogonadal men with low testosterone.

  • Topline results from the labeling "food effect" study indicate that bioavailability of testosterone from LPCN 1021 is not affected by changes in meal fat content. The results demonstrate comparable testosterone levels between the standard fat meal and both the low and high fat meals. Testosterone levels were also comparable between the low fat and high fat meals. Based on the comparative analysis of testosterone exposure in this study, LPCN 1021 bioavailability is not sensitive to low, standard, or high fat meal content.

9:01 am Blackstone: Phoenix Tower International, owned by funds managed by Blackstone's Tactical Opportunities business, announces the acquisition of T4U Holding Brasil, S.A.; terms not disclosed (BX) :  

9:01 am Jamba enters into a master franchise development agreement to develop 70 Jamba Juice stores in Indonesia over the next ten years (JMBA) : Co has entered into a master franchise development agreement with PT Sari Gemilang Makmur to develop 70 Jamba Juice stores in Indonesia over the next ten years. The first Jamba Juice store is expected to open in Jakarta in 2016. Co believes the potential for Jamba stores internationally exceeds 1500 units, and this agreement brings the current pipeline commitment to 615 stores in South Korea, Canada, the Philippines, Mexico, UAE, Saudi Arabia, Bahrain, Oman, Kuwait, Qatar, Taiwan, Thailand and Indonesia.

8:58 am S&P futures vs fair value: -14.00. Nasdaq futures vs fair value: -25.90. (:WRAPX) : The S&P 500 futures trade 14 points below fair value.

The new week started with broad-based losses for markets in the Asia-Pacific region. The weakness was attributed in part to concerns surrounding Greece and Wall Street's weak showing on Friday. An added drag on trading sentiment was the news that China's securities regulator imposed new rules that limit the size of margin trading. China's Shanghai Composite declined 2.0%.

  • In economic data: 
    • South Korea's May Trade Balance KRW 6.30 bln (expected KRW 6.30 bln; prior KRW 6.30 bln) as Exports -10.9% year-over-year (prior -10.9%) and Imports -15.4% year-over-year (prior -15.3%) 
    • Singapore's Q1 Unemployment Rate 1.8% (expected 1.8%; prior 1.8%) and Retail Sales +0.8% month-over-month (expected +1.2%; prior +1.1%); +5.0% year-over-year (expected +6.0%; prior +2.1%) 
    • India's May WPI Inflation -2.36% year-over-year (expected -2.50%; prior -2.65%) as WPI Food Inflation +3.80% (prior +5.70%) and WPI Fuel Inflation -10.51% (prior -13.0%) 
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  • Japan's Nikkei declined 0.1%, weighed down by weakness in the technology (-1.0%), energy (-0.9%), and basic materials (-0.7%) sectors. SCREEN Holdings (-2.3%), Mitsui Mining & Smelting (-2.2%), and Toho Zinc (-2.1%) led declining issues. Nichirei (+7.0%) and Tokyo Fudosan Holdings (+3.2%) paced the winners. Out of the 225 index members, 93 ended higher, 128 finished lower, and 4 were unchanged. 
  • Hong Kong's Hang Seng declined 1.5% and finished at its lows for the day. All sectors finished lower, yet the largest negative influences were the financial (-1.6%) and communications (-1.4%) sectors. Belle International Holdings (-6.8%), Bank of Communications (-3.6%), and Ping An Insurance (-3.1%) were the worst-performing issues. Cathay Pacific Airways (+1.8%), China Resources Power Holdings (+1.6%), and Hang Seng Bank (+0.1%) were the only stocks out of the 50 index members that ended higher. 
  • China's Shanghai Composite dropped 2.0% as the specter of new share listings at the end of the week and new margin trading restrictions imposed by the country's securities regulator cooled off the market, which had risen 12.1% over the last two weeks. Weakness was seen in all areas of the Chinese market on Monday. The technology sector (-7.1%) was the biggest laggard in the CSI 300 Index. 
Major European indices trade lower across the board after Sunday's talks between Greek officials and the country's creditors broke down during the opening hour, leaving the situation unchanged since last Friday. Cuts to pensions/wages and VAT levels on electricity are reportedly among the main points of contention.
  • In economic data: 
    • Eurozone trade surplus expanded to EUR24.90 billion from EUR23.40 billion (expected surplus of EUR22.50 billion) 
    • Italy's May CPI +0.1% month-over-month (expected 0.2%; prior 0.1%); +0.1% year-over-year (consensus 0.2%; last 0.1%) 
    • Swiss May PPI -0.8% month-over-month (expected 0.1%; last -2.1%); -6.0% year-over-year (consensus -5.1%; prior -5.2%). Separately, April Retail Sales +1.6% year-over-year (consensus -2.2%; last -2.8%) 
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  • UK's FTSE is lower by 0.9% with financials and homebuilders under pressure. Barratt Developments, Persimmon, Standard Chartered, Hargreaves Lansdown, and Royal Bank of Scotland are down between 2.2% and 3.2%. Consumer names outperform with Sky and Tesco trading higher by 0.6% and 0.2%, respectively. 
  • France's CAC has given up 1.7% amid broad weakness. Financials BNP Paribas, Credit Agricole, and Societe Generale lead the slide with losses between 2.8% and 3.1%. Exporters Peugeot and Renault also lag with losses close to 3.0% apiece. 
  • Germany's DAX has slumped 2.0% with Commerzbank and Deutsche Bank both down near 3.0%. On the upside, Henkel is the lone advancer, up 0.1%. 
  • Italy's MIB has slid 2.3%. Bank shares lead the retreat with BMPS, Banco Popolare, UBI Banca, Unicredit, and Intesa Sanpaolo down between 3.7% and 4.8%.

8:58 am On the Wires (:WIRES) :

  • Amazon UK (AMZN) confirmed its move to London is now complete. More than 2,000 employees -the majority of whom were previously based in Slough. In 2017, Amazon will open a new building at Principal Place in Shoreditch which will provide enough total capacity to house 5,000 employees. Construction has commenced and Amazon will take residence in 431,000 sq ft of office space in 2017.
  • Wheeler Real Estate Investment Trust (WHLR) announced the conversion of 93K shares of its Series C Mandatorily Convertible Cumulative Perpetual Preferred Stock into 46,500,000 shares of the Company's common stock, effective as of Thursday, June 11, 2015.
  • CommScope (COMM) announced it has partnered with HP (HP) to provide its iTRACS data center infrastructure management platform, with HP's Converged Management Consulting Services.
  • ProSiebenSat GmbH, a subsidiary of one of Europe's biggest media groups, selected an enterprise mobility management platform from MobileIron (MOBL) to centrally secure and manage more than 4,500 iOS mobile devices
  • Manhattan Associates (MANH) announced that Australia-based beverages distributor Casella Family Brands, has completed a successful implementation of Manhattan's Supply Chain Commerce Solutions. 
  • Argos Therapeutics (ARGS) announced that John D. Menditto has joined the Company as vice president of corporate communications and investor relations
  • Intrexon Corporation (XON) announced that it has entered into a collaboration with an investment fund sponsored by Harvest Capital Strategies. Intrexon has agreed to provide the fund a significant number of investment proposals from across five sectors-Health, Energy, Food, Environment and Consumer-that are suitable for pursuit by a startup, including several in 2015. With respect to such proposals, Intrexon will provide the fund with exclusive rights of first-look and first negotiation.

8:58 am PHH Corp announces $155 million servicing advance receivables securitization (PHH) : The co announced that on June 11, 2015, PHH Servicer Advance Receivables Trust 2013-1, an indirect, wholly owned subsidiary of the Company, issued variable funding notes in an aggregate maximum principal amount of $155 million in a transaction with Wells Fargo Bank, N.A., as note purchaser and Wells Fargo Securities, LLC, as agent. On the closing date, the outstanding principal balance of the Servicing Advance Notes was $87.2 million, and $83.9 million of proceeds from the initial issuance of Servicing Advance Notes was used to repay in full all amounts owing under variable funding notes previously issued by PSART to The Royal Bank of Scotland plc in March 2014.

8:55 am Wheeler Real Estate Investment Trust announces the conversion of 93k shares of its Series C Mandatorily Convertible Cumulative Perpetual Preferred Stock into 46.5 mln shares of common stock (WHLR) : The Series C Preferred Stock was issued in connection with the previously announced private placement that the Company completed in March 2015 that resulted in gross proceeds of $90 million and the cancelation of $3.0 million in senior convertible debt. Pursuant to the terms of the Series C Preferred Stock, Wheeler's common shareholders voted on and approved the conversion of the Series C Preferred Stock at the Company's annual shareholder meeting on June 4, 2015.

8:50 am Noranda Aluminum obtains $15 mln of project- specific financing that will allow it to complete a redraw rod mill at its aluminum smelter in New Madrid, Missouri (NOR) : The new rod mill will increase Noranda's production capacity by approximately 43%. The Company expects the new Rod mill to cost approximately $55 million, of which approximately $15 million remains. The Company expects production at the mill to begin during the second quarter of 2016.

8:48 am Lumber Liquidators announces termination of the employment of William K. Schlegel, Chief Merchandising Officer effective June 19, 2015 (LL) : The co announced that on June 12, 2015, it was determined that the employment of William K. Schlegel, Chief Merchandising Officer, will be terminated effective June 19, 2015. On June 12, 2015, Marco Q. Pescara, the company's Chief Marketing Officer, was promoted to Chief Merchandising and Marketing Officer effective June 19, 2015

8:42 am Embraer SA and Aircastle Limited announce a firm order for 25 E-Jet E2 aircraft (ERJ) : Co announced a firm order for 25 E-Jet E2s, consisting of 15 E190-E2s and 10 E195-E2s with an additional 25 purchase rights for 15 E190-E2s and 10 E195-E2s, bringing the total potential order to up to 50 aircraft. The transaction will be included in Embraer's 2015 second-quarter backlog. Aircastle's deliveries are scheduled to begin in 2018 for the E190-E2 and 2019 for the E195-E2 at a rate of roughly seven units per year through 2021. The new order brings the E-Jets E2 backlog to 267 firm orders plus 373 options and purchase rights

8:39 am European Markets Update: FTSE -0.9%, CAC -1.7%, DAX -1.9%, MIB -2.4% (:SUMRX) : Major European indices trade lower across the board after Sunday's talks between Greek officials and the country's creditors broke down during the opening hour, leaving the situation unchanged since last Friday. Cuts to pensions/wages and VAT levels on electricity are reportedly among the main points of contention.

  • In economic data: 
    • Eurozone trade surplus expanded to EUR24.90 billion from EUR23.40 billion (expected surplus of EUR22.50 billion) 
    • Italy's May CPI +0.1% month-over-month (expected 0.2%; prior 0.1%); +0.1% year-over-year (consensus 0.2%; last 0.1%) 
    • Swiss May PPI -0.8% month-over-month (expected 0.1%; last -2.1%); -6.0% year-over-year (consensus -5.1%; prior -5.2%). Separately, April Retail Sales +1.6% year-over-year (consensus -2.2%; last -2.8%) 
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  • UK's FTSE is lower by 0.9% with financials and homebuilders under pressure. Barratt Developments, Persimmon, Standard Chartered, Hargreaves Lansdown, and Royal Bank of Scotland are down between 2.2% and 3.2%. Consumer names outperform with Sky and Tesco trading higher by 0.6% and 0.2%, respectively. 
  • France's CAC has given up 1.7% amid broad weakness. Financials BNP Paribas, Credit Agricole, and Societe Generale lead the slide with losses between 2.8% and 3.1%. Exporters Peugeot and Renault also lag with losses close to 3.0% apiece. 
  • Germany's DAX has slumped 1.9% with Commerzbank and Deutsche Bank both down near 3.0%. On the upside, Henkel is the lone advancer, up 0.1%. 
  • Italy's MIB has slid 2.4%. Bank shares lead the retreat with BMPS, Banco Popolare, UBI Banca, Unicredit, and Intesa Sanpaolo down between 3.7% and 4.8%.

8:34 am Gapping down (:SCANX) : Gapping down
Select large pharma showing early weakness
: SNY -2.3%, NVS -2.3%, NVO -1.8%, LLY -1.8%, GSK -1.5%, SHPG -0.9%

M&A news: DSKY -7.3% (CEO/Chrmn offered to take the co private for $14.00 in cash/ADS), UTX -2% (to spin off helicopter business; will pursue a separation of Sikorsky from the rest of UTC; revises guidance)

Select EU financial related names showing weakness: DB -3.3%, ING -3.3%, RBS -2.9%, HSBC -1.9%, BCS -1.8%

Select metals/mining stocks trading lower: SCCO -5.6%, MT -2.4%, FCX -2.3%, BHP -1.5%, GFI -1.3%, GDX -0.5%

Select oil/gas related names showing early weakness: STO -2.2%, RIG -1.5%, BP -1.3%, SDRL -1.1%, MRO -0.8%

Other news: NBG -15.6% (negotiations betw Greece and creditors broke off over wkend), UBS -1.5% (files for offering of debt securities and warrants, size not disclosed), NFLX -1.2% (Alibaba (BABA) may soon introduce its own streaming service, according to Reuters), .

Analyst comments: SCSS -3.1% (downgraded to Neutral from Outperform at Wedbush), MU -2.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley), SNDK -1.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley)

8:33 am Constellation Brands announces the resignation of CFO Bob Ryder, following the co's Q1 10-Q filing (STZ) : David Klein hasbeen promoted to Executive Vice President and Chief Financial Officer. Klein joined Constellation in 2004 andmost recently served as CFO for the company's Beer Division. The co notes that Ryder's departure from the company is an amicable one and is unrelated to thecompany's financial performance or financial reporting.

8:33 am Entravision confirms that Standard & Poor's Ratings Services has upgraded its corporate credit rating from B+ to BB- on improved financial metrics (EVC) : S&P also raised its issue-level rating on the Co's $30 mln senior secured revolving bank loan due 2018, and $375 million senior secured term loan B due 2020, to BB from BB-. The rating outlook is stable.

8:32 am First Merchants sells First Merchants Insurance Group to USI Insurance Services for $18 mln (FRME) : The co announced the sale of First Merchants Insurance Group, a licensed insurance agency affiliate of First Merchants Bank, N.A. to USI Insurance Services, effective June 12, 2015

  • The Corporation's equity in FMIG totals $9.6 million with intangible assets of $9.2 million. The sale price of the business totaled approximately $18 million.

8:32 am DHI Group: Barington Capital Group and Ancora Advisors send an open letter to Chairman Peter Ezersky, believe selling co is best way to maximize shareholder value (DHX) : In the letter, Barington and Ancora state that they strongly believe that a sale of the Company is the best way to maximize value for shareholders, given the considerable gap between the Company's current market price and its private market valuation as well as the operational challenges the Company has had under its current management team.

  • They note that they have had discussions with several potential private equity and strategic buyers of DHI who have expressed interest in acquiring the Company at a premium to its current market price. Barington and Ancora therefore urge the Board in the letter to engage an investment banking firm to run a sale process for the Company in order to unlock the intrinsic value of the Company.

8:32 am Motorcar Parts of America beats by $0.10, beats on revs (MPAA) : Reports Q4 (Mar) earnings of $0.53 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.43; adjusted revenues rose 18.5% year/year to $90.9 mln vs the $89.04 mln consensus. 

  • "Market share gains in each of our product lines contributed to this strong performance, establishing a solid business base for future growth. We are well-positioned as we begin a new fiscal year, supported by an aging vehicle population, increased miles driven, positive operating synergies and product line expansion opportunities. Equally important, our ongoing success was achieved through the dedication of a team that is passionate about building shareholder value through superior product quality and exemplary service levels to our valued customers," said Selwyn Joffe, chairman, president and chief executive officer of Motorcar Parts of America.

8:32 am Pep Boys announces the appointment of Scott P. Sider as its new CEO effective immediately (PBY) : Co announced the appointment of Scott P. Sider as its new Chief Executive Officer effective today. Sider was also appointed to the Board of Directors.

  • Mr. Sider, most recently served as Hertz Corporation's (HTZ) Group President, Rent A Car Americas, their largest division, a multi-billion dollar business with over 3,200 locations and 16,000 employees. 
  • In connection with Mr. Sider's appointment, John Sweetwood, who is currently serving as Interim Chief Executive Officer, will resume his position as an independent Board member.

8:32 am Market View: Front-month Sep. stock-index futures remained pressure below fair values following the 8:30 am ET economic data point (:TECHX) :

  • ESu5 now 2074.75 -10.25

  • YMu5 now 17724 -95

  • NQu5 now 4424.00 -23.25

8:31 am JA Solar Board of Directos establishes a special committee to evaluate its 'going private' proposal (JASO) : Co announces that its Board of Directors has established a special committee solely consisting of independent and disinterested directors to consider the non-binding proposal letter, dated June 5, 2015, from a buyer group comprised of Mr. Baofang Jin, Chairman and CEO of the company, and Jinglong Group Co, a British Virgin Islands company of which Mr. Baofang Jin is the sole director, to acquire all of the outstanding shares of the company not currently owned by the Buyer Group members in a going private transaction. The Special Committee intends to engage a legal counsel and an independent financial advisor for assistance in its work.

8:31 am PFSWeb acquires eCommerce System Integrator, MODA; reiterates its 2015 service fee equivalent revenue guidance (PFSW) : Co has acquired MODA Superbe, an eCommerce system integrator and consultancy based in London. MODA offers a range of digital services including strategic consulting, custom design, and system integration on the Demandware and Magento eCommerce software platforms. MODA has 25 team members operating out of London and Bulgaria, and expects to generate revenue of approximately $2.5 million in 2015. PFSW expects the transaction to be moderately accretive to its 2015 adjusted EBITDA. Co reiterates its 2015 service fee equivalent revenue guidance of $160-170 mln, as well as its 2015 adjusted EBITDA guidance of $16-18 mln. 

8:31 am S&P futures vs fair value: -10.50. Nasdaq futures vs fair value: -21.20. (:WRAPX) : The S&P 500 futures trade 11 points below fair value.

The Empire Manufacturing Survey for June registered a reading of -2.0, which was below the prior month's reading of 3.1 and below the Briefing.com consensus estimate, which was pegged at 6.0.

8:30 am Ixia Names Marie Hattar as Chief Marketing Officer (XXIA) : Prior to joining Ixia, Hattar was CMO of Check Point Software (CHKP) from 2014 to 2015 where she evolved the company's market position beyond firewalls to an end-to-end security company.

8:29 am On the Wires (:WIRES) :

  • Qlik (QLIK) announced that Nature's Pride, a global fruits and vegetables distributor, has selected QlikView to drive increased visibility across its supply chain.
  • PTC (PTC) announced that Airbus Helicopters, a division of Airbus Group (EADSY) is using the PTC Windchill PLM solution in the development of its H160 rotorcraft.
  • InterOil Corporation (IOC) announced it has started drilling the Triceratops-3 appraisal well in Petroleum Retention License 39 in the Gulf Province of Papua New Guinea.
  • NCR Corporation (NCR) announced that the Yorkshire Building Society is using Authentic, a payments platform from Alaric, an NCR business, to provide essential card authorization, routing and switching.
  • Contango Oil & Gas Company (MCF) announced the discovery and successful completion of the Elliott #1H well in the Muddy Sandstone formation in Weston County, Wyoming (N. Cheyenne Prospect Area). The well tested at a maximum 24 hour rate of 907 Boepd (98% Oil, 39 degree API) from a 6,601 foot completed lateral section using 25 stages of fracture stimulation. Total measured depth was 13,116 feet
  • HARMAN International Industries, Incorporated (HAR) announced that Yijing H. Brentano has joined the Company as Vice President of Strategy and Investor Relations
  • Electro Rent Corporation (ELRC) and ART-Fi announced that Electro Rent will become the sole provider of ART-Fi's ART-MAN SAR measurement system and related services in the United States and Canada.
  • Pfizer (PFE) announced that it broke ground for a $95 million consumer products production facility in Suzhou, China. The new site is near the company's existing Suzhou site and will help increase production capacity to meet growing demand for Pfizer Consumer Healthcare's brands in China and the Asia-Pacific region.
  • Sikorsky Aircraft announced the certification by the European Aviation Safety Agency, of its Rig Approach for the S-92 helicopter. Sikorsky Aircraft is a subsidiary of United Technologies Corp. (UTX)

8:27 am Stratasys spins off its Bold Machines unit; no terms disclosed (SSYS) : The new-product incubation company is run by MakerBot founder, Bre Pettis. Bold Machines is a workshop that helps customers innovate and bring their ideas to life with the help of 3D printing.

8:26 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance
: N/A.

M&A news: NKA +207.6% (to be acquired by Brookfield Infrastructure (BIP) for ~$912 mln), SPF +2.9% (Standard Pacific and Ryland Group (RYL) announce merger of equals),RYL +1.2%

Other news: AXPW +56.7% (signs a binding Letter of Intent, for a technology development and licensing program with LCB International),RDHL +29.8% (meets primary endpoint in its Phase III Study of RHB-105 to treat H. pylori Infection),AMCN +14% (to sell 75% of the equity interest in its Advertising Business for RMB 2.1 bln),NURO +8.5% (announced the full commercial launch of Quell, the company's over-the-counter chronic pain relief device),BLRX +8.4% (positive safety and efficacy results for lead oncology candidate BL-8040),BLUE +5.9% (reports reports new data from HGB-205 study),PTBI +5.9% (adds another adeno-associated virus gene therapy program to its product pipeline),WEC +4% (discloses approval for its acquisition of Integrys Energy Group (TEG) by the Minnesota Public Utilities Commission),TRIV +3.9% (FDA has approved the Ovation iX Iliac Stent Graft for the Ovation Prime Abdominal Stent Graft System),ZGNX +3.1% (Zogenix and Valeant Pharma (VRX) terminate co-promotion agreement for Migranal ),MNKD +3% (cont strength from Friday),GALE +2.1% (Phase 2 pilot study demonstrated an Overall Response Rate of 78%),CTIC +2% (reports Tosedostat in combination with low dose Cytarabine achieves primary endpoint in Phase 2 Study),GERN +1.2% (confirms orphan designation for its imetelstat for the treatment of myelofibrosis),RLD +1.1% (Jurassic World in 3D accounted for ~48% of ~$204.6 mln in domestic opening weekend),KPTI +0.8% (positive clinical data for its lead product candidate)

Analyst comments: IDRA +5.9% (initiated with a Overweight at JP Morgan),SNSS +2.3% (target raised to $5.50 at ROTH Capital),PBI +1.2% (initiated with a Buy at Ladenburg Thalmann)

8:20 am Marathon Patent Group receives an order setting the trial schedule in the matter of Signal IP, Inc. v. Nissan North America, Inc.; updates additional court dates (MARA) : Complete list of company's upcoming court dates.

8:16 am SkyWest will purchase eight new, dual-class Embraer (ERJ) E175 jets to fly for Alaska Airlines (ALK) (SKYW) : The new planes, to be delivered in 2016, will replace eight older regional jets SkyWest currently flies for the Seattle-based carrier.

8:14 am European Yields (BONDX) : Core/Periphery Dynamic Returns

  • The broadly-based sovereign debt sell-off is mutating into a flight to quality as German Bunds and French OATs become relatively more expensive to peripheral bonds
  • The European Court of Justice will likely rule on the OMT (Outright Monetary Transaction) program this week, although indications are that it will rule favorably
    • Were the high court to rule adversely and tie the ECB's hands, contagion risks would surely increase as the eurozone would in effect become more of a gold standard system than one with a lender of last resort
  • Italian CPI growth missed estimates at only +0.1% in May. Italian BTP's sold off nonetheless, as contagion fears from Greece dominated the trade
  • The eurozone trade surplus beat expectations in April, rising to 24.9 bln euro from 23.4 bln in March
  • Yield Check:
    • France, 10-yr OAT: +5 bps 1.28%
    • Germany, 10-yr Bund: -1 bp to 0.83%
    • Greece, 10-yr note: +66 bps to 12.22%
    • Italy, 10-yr BTP: +13 bps to 2.34%
    • Portugal, 10-yr note: +32 to 3.20%
    • Spain, 10-yr Bono: +12 bps to 2.39%
    • U.K., 10-yr Gilt: +2 bps to 2.02%

8:04 am Masimo announced the CE Mark and pre-market release of Root connectivity and patient monitoring platform with noninvasive blood pressure and temperature capabilities (MASI) :  

8:04 am Sanofi-Aventis Genzyme unit announces a Phase 1/2 clinical trial to evaluate Olipudase Alfa to treatpediatric patients (SNY) :

  • Co announced that the first pediatric patient has begun treatment in a Phase 1/2 clinical trial focused on evaluating the investigational therapy olipudase alfa. Olipudase alfa is an enzyme replacement therapy being studied for the treatment of nonneurological manifestations of acid sphingomyelinase deficiency, also known as Niemann-Pick disease type B, as opposed to type A, which is characterized by neurological involvement.
  • There are currently no approved treatment options for patients with Niemann-Pick disease type B.

8:04 am TriVascular Technologies announces that the FDA has approved the Ovation iX Iliac Stent Graft for the Ovation Prime Abdominal Stent Graft System (TRIV) : Co announces that the FDA has approved the Ovation iX Iliac Stent Graft for the Ovation Prime Abdominal Stent Graft System, together with manufacturing enhancements that will facilitate a broader commercial launch of the product. The Ovation iX iliac stent graft is engineered to promote patency even in hostile anatomy. The less invasive, low-profile (10-13F) integrated sheath is designed to minimize vessel trauma. This approval enables a broader commercial launch of the Ovation iX iliac stent graft. The Ovation Prime system is available for sale in over 35 countries around the world.

8:03 am Cytori Therapeutics completes the enrollment of its US Phase IIb osteoarthritis trial, enrolling A total of 94 patients as of June 12, 2015 (CYTX) : Co stated: "Based on faster than anticipated enrollment, we now expect to have six month follow up data for review in Q1 2016. We are very encouraged by the rate of recruitment, which was completed months ahead of the original plan. Based on 24 week follow-up outcomes, we will provide an update on the data and the Phase 3 design, including the size of the trial, cost and end points."

8:02 am Teva Pharma announces that the FDA has accepted for review, the Biologics License Application for reslizumab (TEVA) : The BLA for reslizumab has been accepted for filing by the FDA for standard review, with FDA Regulatory Action expected in March 2016.

8:02 am XBiotech announces positive results from its Phase 2 study of its MABp1 antibody for treating acne vulgaris (XBIT) : Co announces positive results from the Company's Phase 2 study of its MABp1 antibody for treating acne vulgaris. The study concluded that MABp1, due to its unique molecular target, may be a safe and effective means of treating not only inflammatory acne lesions, but also improving feelings of depression and anxiety commonly associated with acne.

  • In the open-label Phase 2 clinical study, ten patients with moderate to severe acne received three subcutaneous injections of MABp1 monotherapy over a six-week period and were followed for a total of 70 days to assess safety and efficacy endpoints. MABp1 showed excellent tolerability in the study, with no serious adverse events reported and only few mild adverse events. 
  • Disease severity, as measured by inflammatory lesion count, improved consistently, with a median 36% reduction by day 56. MABp1 monotherapy also resulted in clinically meaningful improvements in anxiety/depression and body image scores using two clinically validated questionnaires.

8:02 am KAR Auction Services acquires HBC Vehicle Services; terms not disclosed (KAR) :

  • Co announced that its subsidiary Adesa Limited has acquired HBC Vehicle Services. Headquartered in Canvey Island, England, HBC specializes in salvage vehicle auctions and related services.

8:01 am Bio Blast Pharma announces the start of a Phase 3 pivotal study in the US and Canada for Cabaletta in Oculopharyngeal Muscular Dystrophy (ORPN) : Co announces the start of a Phase 3 pivotal study in the USA and Canada for Cabaletta (trehalose) in Oculopharyngeal Muscular Dystrophy (:OPMD). Co says "We see positive signals in a consequential number of the 25 treated patients currently enrolled in our open label HOPEMD study, with respect to various muscle and other performance tests. These positive signals lead us to believe that the clinical study duration required to demonstrate efficacy may be considerably shorter than we initially predicted." Co has made the decision to initiate a Phase 3 study in the next quarter that will begin enrolling approximately 60 OPMD patients in the USA and Canada into this new trial. Co has stopped enrollment in the HOPEMD trial at 25 patients, co had originally intended to enroll 70 patients. New OPMD patients will now be enrolled in the Phase 3 pivotal study. Co anticipates that this Phase 3 study will be completed by the end of 2016. "We believe this new Phase 3 study will expedite our OPMD program towards a regulatory filing."

8:00 am DealerTrack to be acquired in an all-cash transaction valued at $4 billion, or $63.25 per share (shares halted) (TRAK) : Cox Automotive will acquire Dealertrack in an all-cash transaction valued at $4 bln, or $63.25 per share.

  • The Dealertrack Board of Directors has unanimously approved the acquisition and recommends that Dealertrack stockholders tender their shares in favor of the transaction. 
  • The transaction is fully financed and is not subject to a financing condition. The acquisition will be funded through an existing bank facility, a new $1.85 billion bank term loan arranged by Citigroup Global Markets Inc. and a $750 million common equity investment from BDT Capital Partners.

8:00 am Restoration Hardware commences an offering of $250 mln in convertible senior notes due 2020 (RH) : Co intends to take advantage of favorable market conditions for convertible notes in order to provide it with additional funding for expansion of its business and the pursuit of additional growth opportunities. A portion of the proceeds from the offering will be used to pay the net cost of the convertible note hedge transactions. The notes will be convertible into cash, shares of Restoration Hardware's common stock, or a combination thereof, at Restoration Hardware's election.

8:00 am On the Wires (:WIRES) :

  • Agilysys (AGYS) announced that Hotel Granduca Austin, in Austin, Texas, has selected a comprehensive solution suite, including systems for property management, point-of-sale and inventory and procurement, to streamline its operations.
  • Endeavour Silver (EXK) announces that the 1,000 tonne per day ball mill at the 1,600 tpd Bolaitos mine was repaired earlier than expected and plant operations returned to normal last Friday, June 12. No material impact on production is anticipated from the mill downtime as the mine continued to produce ore to the stockpile. Co also announced that The El Cubo mine expansion is well under way and a second mining contractor commenced work last Friday, June 12 to help facilitate the mine expansion to 2,200 tpd. The El Cubo plant was optimized in the first quarter and is now operating well above its original design capacity of 1,500 tpd.
  • Yingli Green Energy Holding Company Limited (YGE) announced that it has connected its 50 MW PV power plant, located in Hebei Province, China, to the utility grid. The project is also expected to generate annual revenue of RMB 54 million from national feed-in-tariffs for the next 20 years. The project has obtained a 10-year, RMB 300 million financing facility from CGN International Finance Leasing. Yingli is also negotiating with a third party for the transfer of the project, which is expected to be completed in the second half of 2015.
  • CTG (CTG) announced that Alfred Hamilton, has been named Vice President and General Manager of CTG Healthcare and Life Sciences, effective July 22, 2015
  • Statoil (STO) on behalf of the Johan Sverdrup licence, has awarded two contracts at a total value of more than NOK 4.35 billion to Odfjell Drilling for drilling wells on the Johan Sverdrup field.

7:58 am S&P futures vs fair value: -11.50. Nasdaq futures vs fair value: -21.50. (:WRAPX) : U.S. equity futures trade near their pre-market lows amid cautious action overseas. The S&P 500 futures hover 12 points below fair value with the weakness brought on by the continued lack of progress between Greece and its creditors. With no new developments over the weekend, the focus now shifts to the Eurogroup meeting on June 18.

U.S. Treasuries hold gains with the 10-yr yield down four basis points at 2.35%.

The Empire Manufacturing Index for June (Briefing.com consensus 6.0) will be released at 8:30 ET while May Industrial Production (consensus 0.3%) and Capacity Utilization (consensus 78.3%) will both be reported at 9:15 ET. The day's data will be topped off with the 10:00 ET release of the NAHB Housing Market Index for June (expected 56).

In U.S. corporate news of note:

  • CVS Health (CVS 102.65, +0.43): +0.4% after agreeing to acquire Target's (TGT 79.47, 0.00) pharmacies and clinics for $1.90 billion. 
  • Micron (MU 24.35, -0.78): -3.1% after Morgan Stanley downgraded the stock to 'Underweight' from 'Equal-Weight.'
Reviewing overnight developments:
  • Asian markets ended lower. Japan's Nikkei -0.1%, Hong Kong's Hang Seng -1.5%, and China's Shanghai Composite -2.0% 
    • In economic data: 
      • South Korea's May Trade Balance KRW 6.30 bln (expected KRW 6.30 bln; prior KRW 6.30 bln) as Exports -10.9% year-over-year (prior -10.9%) and Imports -15.4% year-over-year (prior -15.3%) 
      • Singapore's Q1 Unemployment Rate 1.8% (expected 1.8%; prior 1.8%) and Retail Sales +0.8% month-over-month (expected +1.2%; prior +1.1%); +5.0% year-over-year (expected +6.0%; prior +2.1%) 
      • India's May WPI Inflation -2.36% year-over-year (expected -2.50%; prior -2.65%) as WPI Food Inflation +3.80% (prior +5.70%) and WPI Fuel Inflation -10.51% (prior -13.0%) 
    • In news: 
      • China's government could merge five State Owned Enterprises in the basic materials sector into two or three entities in order to help ease overcapacity, according to press reports
  • Major European indices trade lower across the board. Germany's DAX -1.8%, France's CAC -1.6%, and UK's FTSE -1.0%. Elsewhere, Italy's MIB -2.4% and Spain's IBEX -1.9%
    • In economic data: 
      • Eurozone trade surplus expanded to EUR24.90 billion from EUR23.40 billion (expected surplus of EUR22.50 billion) 
      • Italy's May CPI +0.1% month-over-month (expected 0.2%; prior 0.1%); +0.1% year-over-year (consensus 0.2%; last 0.1%) 
      • Swiss May PPI -0.8% month-over-month (expected 0.1%; last -2.1%); -6.0% year-over-year (consensus -5.1%; prior -5.2%). Separately, April Retail Sales +1.6% year-over-year (consensus -2.2%; last -2.8%) 
    • Among news of note: 
      • Sunday's talks between Greek officials and the country's creditors broke down after just 45 minutes, leaving the situation unchanged since last Friday. Cuts to pensions/wages and VAT levels on electricity are reportedly the main points of contention

7:32 am Overnight Treasury Summary (BONDX) : Treasuries Rally on Risk Aversion

  • The U.S. Treasury complex is starting the week in the green as this week's deadline for a deal between Greece and its creditors looms large with no solution in sight. All maturities of coupon securities are seeing gains, although 5's and 10's are slightly stronger
  • Yield Check:
    • 2-yr: -2 bps to 0.71%
    • 5-yr: -3 bps to 1.71%
    • 10-yr: -3 bps to 2.37%
    • 30-yr: -2 bps to 3.08%
  • International News:
    • Indicators of financial stress have climbed after the weekend as Greece and its creditors continued to maintain their negotiating positions
      • Greece's 10-year yield is up 63 bps to 12.18%
      • The 10-year Spanish Bono yield is now 155 bps above the German Bund yield, up 9 bps today and 29 bps over the past 2 days. In some sense, this spread is more important than Greek sovereign debt yields because the Bono/Bund spread reflects contagion risks
      • Greek equities were battered overnight led by bank shares. The Eurostoxx 50 and German Dax are both down roughly 1.5%
      • The European Court of Justice is expected to make a ruling on the legality of the Outright Monetary Transactions (:OMT) program this week and the uncertainty couldn't come at a worse time. This program gives the ECB the authority to buy sovereign debt of member nations given certain conditions
      • The Central Bank of Russia cut its benchmark interest rate by 100 bps to 11.5% today, after raising the rate as high as 2014 last year due to higher imported inflation from the depreciating ruble
        • USD/RUB has now stabilized around 55 from a high of 70 in February, and the CBR is now cutting rates to boost economic growth rather than concerning itself with imported inflation
      • Italian CPI growth missed estimates at only +0.1% in May
      • The eurozone trade surplus beat expectations in April, rising to 24.9 bln euro from 23.4 bln in March
  • Data out Today:
    • June Empire Manufacturing (08:30 ET)
    • May Industrial Production and Capacity Utilization (09:15 ET)
    • June NAHB Housing Market Index (10:00 ET)
    • April Net Long-Term TIC Flows (16:00 ET)

7:32 am Axion Power Intl signs a binding Letter of Intent, for a technology development and licensing program with LCB International (AXPW) : Co announced that on Saturday it signed a binding Letter of Intent (:LOI) for a technology development and licensing program with LCB International. LCB is a privately owned entity incorporated in the British Virgin Islands with its principal business office in Shanghai, China.

  • The agreements will grant LCB the right to manufacture and sell PbC batteries and other Axion products on an exclusive basis in the People's Republic of China, Taiwan, Macao and Hong Kong. Axion will receive a non-refundable payment of $250,000 immediately, and further staged payments after final agreements are signed. 
  • Under the terms of the LOI, Axion would receive an aggregate of up to $10 million over a period of two years in a combination of technology license fees, the sale of convertible preferred stock and senior convertible notes. Axion would also be paid royalties for the longer of the last to expire patent licensed or up to 15 years.

7:32 am Acorda Therapeutics appoints CEO Ron Cohen as chairman for the 2015-2016 term; Cohen will also serve as the Chairman of the Health Section Governing Board (ACOR) :  

7:31 am Genesis Healthcare to acquire 24 skilled nursing facilities from Revera for $240 mln (GEN) :

  • Co announced that it has signed an asset purchase agreement with Revera, a owner, operator and investor in the senior living sector, to acquire 24 of its skilled nursing facilities along with its contract rehabilitation business for $240 million. 
  • The transaction is expected to close by this calendar year-end, subject to additional due diligence, regulatory and licensing approvals, and other customary conditions. Under the agreement, Genesis will acquire the real estate of 20 of the 24 facilities and will enter into a long-term lease agreement with Health Care REIT, Inc. (HCN) for the remaining properties. 
  • Genesis will also acquire the operations of Premier Therapy, Revera's contract rehabilitation business. Genesis expects to finance the transaction utilizing a bridge loan from HCN and will subsequently refinance the bridge loan utilizing the HUD financing program or other traditional mortgage financing. 
  • Genesis expects the transaction will be accretive to 2016 earnings.

7:31 am Solar Power enters into a convertible promissory note purchase agreement with Vision Edge Limited, for a private placement of up to $40 mln (SOPW) : Vision Edge Limited agreed to purchase a principal amount of $20 million of convertible promissory note issued by SPI through private placement. The Convertible Note will mature on the first anniversary of its issuance date. The Convertible Note will be convertible, at the Purchaser's option, to common stock of SPI at a price of $2.70 per share.

  • In connection with the sale of the Convertible Note, SPI also granted the Purchaser an option to purchase $20 million of SPI's common stock exercisable at any time within the next six months at a price of $2.70 per share. 
  • Net proceeds from the above transaction are intended to be used for expansion of SPI's global PV project activities and general corporate purposes

7:31 am Alliance Data provides a card services performance update for May 2015, showing avg receivables +33% y/y, with a delinquency rate of 3.9% (ADS) : Co also announced Net charge-offs of ~$41.2 mln. 

7:30 am Bluebirdbio announces that Philip Gregory Phil., is joining the company as its Chief Scientific Officer (BLUE) : Co announced that Philip Gregory Phil is joining the company as its Chief Scientific Officer and a member of the leadership team. Gregory comes to bluebird bio from Sangamo BioSciences (SGMO).

7:30 am Cleveland Biolabs submits Pre-EUA dossier for Entolimod to FDA (CBLI) :

  • Co announced that the company has submitted an application for pre-Emergency Use Authorization to the FDA in support of use of entolimod as a medical radiation countermeasure. Entolimod would be indicated for reducing the risk of death following exposure to potentially lethal irradiation occurring as the result of a radiation disaster.

7:27 am On the Wires (:WIRES) :

  • Innocoll AG (INNL) announced that the first patient was dosed in the COACT-2 Phase 3 study for the treatment of diabetic foot infections using Cogenzia, Innocoll's topically applied, bioresorbable collagen sponge.
  • ArmaGen announced that it achieved a clinical milestone in its worldwide licensing and collaboration agreement with Shire plc (SHPG). The milestone was achieved in conjunction with dosing patients in its Phase 1 clinical trial of AGT-182, an investigational treatment of Hunter syndrome, and under terms of the agreement, the Company is entitled to a milestone payment from Shire.
  • NeuroMetrix (NURO) announced the full commercial launch of Quell, the company's over-the-counter chronic pain relief device.

7:27 am On the Wires (:WIRES) :

  • BOC Aviation has selected the V2500 engine to power an additional 14 Airbus A320ceo family aircraft. The V2500 engine is offered through IAE International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (UTX), Japanese Aero Engines Corporation and MTU Aero Engines.
  • CNH Industrial (CNHI) and Fiat Chrysler Automobiles (FCA) announced the commercialisation of the first ever natural gas vehicle. This order falls under the recently signed Memorandum of Understanding (:MOU), which foresees a partnership between the companies and Israel's Fuel Choices Initiative
  • Bombardier (BDBRF) Commercial Aircraft announced that Calgary-based WestJet Encore Ltd. has signed a firm order for five Q400 aircraft. The airline also signed a firm order for one Q400 aircraft in March 2015. These transactions are conversions of options previously booked by the carrier's parent company WestJet Airlines. Based on the list price of the Q400 airliner, the transactions announced are valued at ~$200 million
  • Apricus Biosciences (APRI) announced that it has enrolled the last patient in its RayVa Phase 2a proof-of-concept study. The Company expects to report top-line data in the third quarter of 2015 in advance of potentially moving RayVa into a pivotal Phase 2b trial following further guidance discussions with the FDA.
  • Heat Biologics (HTBX) announced the development of its next-generation combination immunotherapy platform, which combines a pan-antigen T cell priming vaccine and T cell co-stimulator in a single product. The platform, named ComPACT, has been engineered to incorporate various fusion proteins targeting co-stimulatory receptors (OX40, ICOS, 4-1BB), enabling the combination of two important immunotherapy pathways in a single therapy. Data generated using the ComPACT platform are being presented today at the Cell Symposia, 'Cancer, Inflammation and Immunity' in Sitges, Spain. The Company will also be hosting a webcast today to present these data.

7:25 am Radian Group commences an offering of $300 mln in senior unsecured notes due 2020 (RDN) : Co intends to use the net proceeds from the Offering, together with shares of its common stock, to purchase some of its outstanding 2017 Convertible Notes and thereafter, to repurchase some of the common stock the Company may issue in connection with such purchases, and otherwise for general corporate purposes.

7:08 am Asian Markets Close: Japan's Nikkei -0.1%; Hong Kong's Hang Seng -1.5%; China's Shanghai Composite -2.0% (:SUMRX) : The new week started with broad-based losses for markets in the Asia-Pacific region. The weakness was attributed in part to concerns surrounding Greece and Wall Street's weak showing on Friday. An added drag on trading sentiment was the news that China's securities regulator imposed new rules that limit the size of margin trading. China's Shanghai Composite declined 2.0%.

Economic data

  • South Korea
    • May Trade Balance KRW 6.30 bln (expected KRW 6.30 bln; prior KRW 6.30 bln)
      • May Exports -10.9% year-over-year (prior -10.9%)
      • May Imports -15.4% year-over-year (prior -15.3%)
  • Singapore
    • Q1 Unemployment Rate 1.8% (expected 1.8%; prior 1.8%)
    • Retail Sales +0.8% month-over-month (expected +1.2%; prior +1.1%); +5.0% year-over-year (expected +6.0%; prior +2.1%)
  • India
    • May WPI Inflation -2.36% year-over-year (expected -2.50%; prior -2.65%)
      • WPI May Food Inflation +3.80% (prior +5.70%)
      • WPI May Fuel Inflation -10.51% (prior -13.0%)
Equity Markets
  • Japan's Nikkei declined 0.1%, weighed down by weakness in the technology (-1.0%), energy (-0.9%), and basic materials (-0.7%) sectors. SCREEN Holdings (-2.3%), Mitsui Mining & Smelting (-2.2%), and Toho Zinc (-2.1%) led declining issues. Nichirei (+7.0%) and Tokyo Fudosan Holdings (+3.2%) paced the winners. Out of the 225 index members, 93 ended higher, 128 finished lower, and 4 were unchanged.
  • Hong Kong's Hang Seng declined 1.5% and finished at its lows for the day. All sectors finished lower, yet the largest negative influences were the financial (-1.6%) and communications (-1.4%) sectors. Belle International Holdings (-6.8%), Bank of Communications (-3.6%), and Ping An Insurance (-3.1%) were the worst-performing issues. Cathay Pacific Airways (+1.8%), China Resources Power Holdings (+1.6%), and Hang Seng Bank (+0.1%) were the only stocks out of the 50 index members that ended higher.
  • China's Shanghai Composite dropped 2.0% as the specter of new share listings at the end of the week and new margin trading restrictions imposed by the country's securities regulator cooled off the market, which had risen 12.1% over the last two weeks. Weakness was seen in all areas of the Chinese market on Monday. The technology sector (-7.1%) was the biggest laggard in the CSI 300 Index.
  • India's Sensex increased 0.6% following the release of better than expected wholesale price data. Gains were paced by the consumer cyclical (+1.1%) and consumer non-cyclical (+0.7%) sectors. Individual standouts included Sun Pharmaceutical (+3.0%), Mahindra & Mahindra (+2.3%), and Housing Development Finance (+2.0%). Hindalco Industries (-2.1%) and State Bank of India (-1.5%) were the biggest laggards. Out of the 30 index members, 18 ended higher and 12 finished lower.
  • Australia's S&P/ASX 200 declined 0.1% with losses in the gold (-2.9%), energy (-2.4%), and utilities (-1.2%) sectors leading things lower. Out of the 200 index members, 71 ended higher, 116 finished lower, and 13 were unchanged.
  • Regional advancers: Vietnam +0.6%
  • Regional decliners: South Korea -0.5%, Taiwan -0.5%, Malaysia -0.7%, Indonesia -2.0%, Singapore -0.9%, Thailand -0.6%, Philippines -0.6%
FX
  • USD/CNY +0.01% at 6.2090
  • USD/INR +0.01% at 64.106
  • USD/JPY +0.2% at 123.60

7:06 am Matinas BioPharma's s MAT9001 met its primary endpoint; statistical analysis demonstrated superiority of MAT9001 over Vascepa for omega-3 bioavailability (MTNB) : Co announces that MAT9001 achieved a greater median percentage reduction from baseline to trial end in total cholesterol and a significantly greater median percentage reduction in four of six lipid measures, including total cholesterol, when compared to Vascepa. MAT9001 met its primary endpoint in this study. "These data demonstrate that MAT9001, a unique omega-3 fatty acid composition with docosapentaenoic acid (:DPA), has the potential to expand and to greatly improve therapeutic options for patients with high triglyceride levels and high cholesterol levels in the fight against cardiovascular disease." MAT9001 is Matinas BioPharma's lead cardiovascular/metabolic disease drug candidate.

7:06 am Science Applications is awarded three army TACOM strategic service solutions contracts, worth more than $3.2 bln in combined value (SAIC) : Co was awarded three prime contracts for the Tank and Automotive Command (:TACOM) Strategic Service Solutions (TS3) family of contracts. These contracts will provide the U.S. Army a variety of services and solutions to support several TACOM programs.

  • The multiple-award, indefinite-delivery, indefinite-quantity contracts cover three individual service areas: a knowledge based services contract worth a total of $1.8 billion; an equipment related services contract worth a total of $1.1 billion; and a research & development services contract worth a total of $634 million. 
  • The contracts each have a five-year period of performance, and a combined total contract value of more than $3.2 billion available to all awardees. SAIC is one of four awardees that will compete for task orders under all three contracts. Work will be performed primarily in Sterling Heights, Michigan.

7:05 am Galena Biopharma presents GALE-401 Phase 2 data at the European Hematology Association 20th Congress; Phase 2 pilot study demonstrated an Overall Response Rate of 78% (GALE) :

  • The Phase 2 study demonstrated that GALE-401 was well tolerated with primarily Grade 1 and 2 toxicities in 16 of the 18 subjects enrolled. The efficacy shown in the trial compares favorably to historical anagrelide immediate release (IR) response rates with the following platelet response: overall response rate (ORR.V) of 78% (14/18); complete response (CR) of 39% (7/18); partial response (:PR) of 39% (7/18). 
  • The median time to response was 5 weeks (range, 3--10), and the median duration of response has not yet been reached. Based on the data, the investigators concluded that GALE-401 remains a viable potential treatment option for MPNs, and a randomized trial comparing GALE-401 versus anagrelide IR is warranted. Final data from the GALE-401 Phase 2 trial is expected to be presented at the American Society of Hematology conference in December.

7:05 am Kratos Defense and Security is awarded a $29.6m missile defense technology development contract (KTOS) : Co announced that it was awarded a $12,060,193 cost-plus-fixed-fee contract for research and development competed through the broad area announcement process. The total value of the basic contract and all options is $29,559,440. Co will provide research in the areas of aerosciences, electronic systems, and thermal systems, encompassing such diverse technologies as aerodynamics, aero-optics, hypersonic vehicle analysis, modeling and simulation, directed energy component evaluation, and development of thermal management systems. Work will be performed in Huntsville, Alabama, with an estimated completion date of May 29, 2020

7:04 am Willbros Group completes initial transaction of its recently disclosed intention to sell its Professional Services segment; Downstream Engineering and Heater Engineering Services sold to Bernhard Capital Partners (WG) :  

7:04 am Juniper Pharma announces first patient enrolled in Phase II Study of COL-1077 as an acute-use anesthetic for minimally-invasive gynecologic procedures (JNP) :

  • Co announced the first patient has been enrolled in a Phase II clinical trial of COL-1077, a 10% lidocaine bioadhesive gel that is intended as an acute-use anesthetic during minimally invasive gynecologic procedures. 
  • The study will assess the reduction in pain intensity during the endometrial biopsy and time points up to 24 hours after the procedure as compared to placebo. Safety assessments, use of "rescue" pain medications, and patient-related outcome measures, such as time to return to work following the biopsy will be also examined. 
  • Study results are expected in mid-2016.

7:03 am PlasmaTech Biopharma adds another adeno-associated virus gene therapy program to its product pipeline (PTBI) : The Company has licensed an AAV gene therapy and IP from the University of Minnesota to treat patients with Fanconi anemia disorder and other rare blood diseases. Co recently acquired Abeona Therapeutics, which developed AAV gene therapies for the treatment of Sanfilippo syndromes, and licensed an AAV gene therapy program in juvenile Batten disease from the University of Nebraska Medical Center.

7:03 am Roche Hldg announces FDA approval for the first fully automated IHC companion diagnostic to identify lung cancer patients eligible for XALKORI (RHHBY) : Ventana Medical Systems, a member of the Roche Group, announced approval of the VENTANA ALK (D5F3) CDx Assay by the US Food and Drug Administration (:FDA) as a companion diagnostic to aid in the identification of patients for Pfizer's FDA approved targeted therapy, XALKORI (crizotinib).

  • The VENTANA ALK Assay was approved as a CE-IVD in Europe in 2012 and was approved by the Chinese Food and Drug Administration (:CFDA) in 2013.   

7:02 am Comverse acquires privately-held, secure mobile messaging and engagement services firm Acision, for cash and stock (CNSI) : Comverse will acquire Acision for a purchase price consisting of ~ $135 million in cash, 3.13 million shares of Comverse's common stock, and potential earnout payments of up to $35 million. In addition, Comverse will seek to maintain Acision's existing $157 million senior credit facility following completion of the transaction. The Boards of Directors of Comverse and Acision have approved the transaction, which is expected to be complete by the end of the third calendar quarter

7:02 am BioLineRx presents positive safety and efficacy results for lead oncology candidate BL-8040 at European Hematology Association conference (BLRX) : BLRX announced the presentation of positive safety and efficacy results for its lead oncology candidate, BL-8040, as a novel approach for the collection of stem cells from the peripheral blood circulation.

  • Treatment with BL-8040 as a single agent was found safe and well tolerated at all doses, and resulted in efficient stem-cell mobilization and collection in all study participants.
  • Furthermore, the results support BL-8040 as a one-day, single-dose collection regimen, which is a significant improvement compared to the current standard of care.  

7:02 am Karyopharm Therapeutics presents positive clinical data for its lead product candidate, Selinexor at the 20th Congress of the European Hematology Association (KPTI) :

  • In an ongoing Phase 1b company-sponsored clinical trial evaluating the activity of single-agent selinexor in heavily pre-treated patients with diffuse large B-cell lymphoma (:DLBCL), selinexor demonstrated a 43% overall response rate (partial response or better) in patients on study greater than one month, and a 31% overall response rate across all doses in the intention to treat population, with a median duration of response (:DOR) of greater than nine months. S
  • imilar responses were observed in both GCB and non-GCB subtypes. The median overall survival (:OS) and progression free survival (PFS) were 4.6 months and 1.7 months, respectively, for the entire study.In patients with a response to selinexor (N=12), the median OS was greater than 10 months (median not reached) and PFS was 24 months, significantly longer than those without a response (N=27; OS 3.5 months, PFS 1.2 months).
  • Adverse events were manageable with standard supportive care and clinically significant cumulative toxicities were not observed, with several patients remaining on selinexor for more than one year. Additional clinical data on selinexor's activity in DLBCL, including in patients with double-hit DLBCL, will be provided in an oral presentation on Saturday, June 20, 2015

7:01 am SM Energy Provides upcoming presentation scheduled; expects that recent NGL price declines will reduce the Company's 2015 total revenue by ~$25 million, or 1.5% of its total 2015 budgeted revenue (SM) :

  • Co expects that recent NGL price declines will reduce the Company's 2015 total revenue by approximately $25 million, or 1.5% of its total 2015 budgeted revenue. The Company's 2015 budgeted revenue is based on production volumes and strip pricing as of 2/3/15, while the NGL price sensitivity uses the same budgeted production volumes with actual realized NGL prices through 5/31/15 and strip NGL pricing as of 6/11/15 for the remainder of the year. 
  • The minimal impact expected from lower liquids prices is not expected to affect drilling or production plans.

7:01 am iDreamSky Technology (halted) announces Chairman/CEO has offered to take the co private for $14.00 in cash/ADS (DSKY) :

  • Co announced that its board of directors has received a preliminary non-binding proposal letter, dated June 13, 2015, from Michael Xiangyu Chen, chairman of the Board and chief executive officer of the Company, to acquire all of the outstanding Class A and Class B ordinary shares of the Company not owned by him or his affiliates, including Class A ordinary shares represented by American depositary shares, for $3.50 in cash per Class A or Class B ordinary share, or $14.00 in cash per ADS.

7:01 am CVS Health to acquire, rebrand and operate Target's (TGT) pharmacies and clinics for $1.9 bln; dilutive in 2016 but accretive in 2017 and beyond (CVS) : CVS and Target (TGT) announced that they have entered into a definitive agreement for CVS Health to acquire Target's pharmacy and clinic businesses for approximately $1.9 billion.

  • Through this agreement, CVS Health will acquire Target's more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. 
  • In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services.
  • CVS Health expects this transaction to generate significant sales and prescription volumes upon closing, and to generate significant operating profit over the long term. 
    • The company will finance the transaction with additional debt. 
    • In combination with CVS Health's planned acquisition of Omnicare, this transaction will increase the company's Adjusted Debt to EBITDA leverage ratio to approximately 3.2x. 
    • In support of reaching its leverage target of 2.7x, CVS Health is reducing its share repurchase guidance for 2015 by $1 billion, from $6 billion to $5 billion. 
    • This reduction in share repurchases reduces the company's 2015 Adjusted Earnings Per Share guidance by approximately one cent per share and will lower 2016 Adjusted Earnings Per Share by approximately 4 cents per share. 
    • Assuming it closes near the end of the year, the transaction is expected to be approximately 6 cents dilutive to CVS Health's Adjusted Earnings Per Share in 2016. This includes the dilutive impact to 2016 from the lower 2015 share repurchase of approximately 4 cents per share as well as financing costs of approximately 5 cents per share; it excludes integration costs and any transaction or one-time costs associated with the deal.
    • On the same basis, the transaction is expected to be approximately 10 cents accretive to CVS Health's Adjusted Earnings Per Share in 2017, and at least 12 cents accretive to CVS Health's Adjusted Earnings Per Share in 2018 and beyond.

6:59 am On the Wires (:WIRES) :

  • Oncolytics Biotech Inc. (ONCY) announced that preclinical data for Reolysin will be presented by the its research collaborators at the 9th International Conference on Oncolytic Virus Therapeutics
  • Elbit Imaging (EMITF) announced that in the hearing held at the Israel Supreme Court and following the recommendation of the Court, the Plaintiff withdraws the Appeal filed by a holder of Series B Notes following the approval of the adjusted plan of arrangement by the Court
  • Endeavour Silver (EXK) announces that the 1,000 tonne per day (tpd) ball mill at the 1,600 tpd Bolaitos mine was repaired earlier than expected and plant operations returned to normal last Friday, June 12. No material impact on production is anticipated from the mill downtime as the mine continued to produce ore to the stockpile. The outage will have a minor impact on forecast production in the second quarter from the El Cubo mine, because El Cubo is currently in the middle of a mine expansion from 1,500 tpd to 2,200 tpd
  • GE Capital Aviation Services, the aviation leasing and financing arm of GE (GE) announced a firm order for 60 Airbus (EADSY) A320neo family aircraft

6:40 am Boeing and Qatar Airways announces an order for 10 777-8Xs and four 777 Freighters, valued at $4.8 billion (BA) :  

6:36 am OM Asset Mgmt launches a secondary offering of 11 mln shares, to be sold by Old Mutual shareholder (OMAM) :  

6:30 am Atara Biotherapeutics exercises its exclusive option with Memorial Sloan Kettering Cancer Center, to license certain clinical stage, allogeneic T-cell therapies (ATRA) : Co has exercised its exclusive option with Memorial Sloan Kettering Cancer Center to license certain clinical stage, allogeneic T-cell therapies for the treatment of cancers and persistent viral infections. In connection with the exercise of the option, the Atara Bio license agreement with MSK grants Atara Bio exclusive worldwide rights to:

  • T-cells activated against Epstein Barr Virus, or EBV (Phase 2)
  • T-cells activated against Cytomegalovirus, or CMV (Phase 2)
  • T-cells activated against Wilms Tumor 1, or WT1 (Phase 1)

6:30 am Carnival has signed a multi-billion dollar contract to build four next-generation cruise ships for Meyer Werft and Fincantieri S.p.A (CCL) : Co announced it has signed a multi-billion dollar contract to build four next-generation cruise ships with the largest guest capacity in the world. The contract with Meyer Werft is part of larger previously announced strategic memo of understanding with leading shipbuilders Meyer Werft and Fincantieri S.p.A for nine new ship orders between 2019 and 2022.

6:30 am Fairfax Financial to call a special shareholders meeting to consider amendment to terms of multiple voting shares (FRFHF) : The co announced that it is calling a special meeting of its shareholders to be held on July 21, 2015 to vote on a proposed amendment to its articles to preserve the current 41.8% voting power of its multiple voting shares, which are controlled by V. Prem Watsa, Fairfax's Chairman and Chief Executive Officer, and to make certain additional changes, including memorializing that the holder of the multiple voting shares will never be able to profit, or receive any premium or benefit, from the special voting rights attached to the multiple voting shares. This proposal is the result of a careful and thorough Board process conducted under the supervision of an independently advised special committee of independent directors. The Special Committee and the Board have both unanimously recommended that shareholders vote in favour of the proposal.

6:29 am On the Wires (:WIRES) :

  • Euronet Worldwide (EEFT) announced the addition of three new countries to its portfolio of Independent ATM Deployment networks: Malaysia, Cyprus and Portugal
  • BioLife Solutions (BLFS) announced that a new clinical article citing the use of the Company's CryoStor cryopreservation freeze media with a dendritic cell based vaccine was published in the journal Oncotarget.
  • Hawaiian Holdings (HA) announced that Margaret Cummisky will join the company as Managing Director of Federal Government Relations
  • Ship Finance International Limited (SFL) announced the agreement to acquire three containerships from an unrelated third party. The vessels are currently under construction and are expected to be delivered to Ship Finance between 4Q 2015 and 1Q 2016. The vessels have been chartered out for a minimum period of five years to a leading European-based container line, with options to extend the charter period by up to two years. The charter backlog will increase by ~$200 million and the aggregate annual EBITDA contribution from the vessels is estimated to more than $30 million on average during the five year firm period of the charter. The Company will arrange financing for the vessels in due course.
  • China Information Technology (CNIT) announced that it launched the version 1.0 of its proprietary Cloud Nest Operating System and began beta testing

6:05 am Egalet appoints Timothy Walbert as Chairman of its Board of Directors (EGLT) : Since 2008 Walbert has been president and chief executive officer of Horizon Pharma (HZNP), and has served as chairman of its board of directors since 2010.

6:05 am RedHill Biopharma successfully meets primary endpoint in its Phase III Study of RHB-105 to treat H. pylori Infection (RDHL) : Co announced positive top-line results from its Phase III study with RHB-105 for the treatment of Helicobacter pylori (H. pylori) bacterial infection.

  • Top-line results from the study demonstrated 89.4% efficacy in eradicating H. pylori infection with RHB-105. The ERADICATE Hp first Phase III study successfully met its primary endpoint of superiority over historical standard of care efficacy levels of 70%, with high statistical significance (p
  • No serious adverse events, new or unexpected safety issues were noted in the study. 
  • A meeting with FDA is being planned by RedHill to discuss the clinical and regulatory path for approval of RHB-105 as a potential best-in-class, first-line therapy for H. pylori infection, a major cause of gastric diseases, gastric cancer and MALT lymphoma
  • RedHill will host a conference call to discuss the Phase III top-line results June 15, 2015, at 8:30 a.m. ET

6:01 am ImmunoCellular Therapeutics Enters into a manufacturing agreement with PCT, a Caladrius (CLBS) company, for the US Production of ICT-107 for its Phase 3 Registration Trial (IMUC) : Under the terms of the multi-year agreement, PCT will provide current good manufacturing practice (cGMP) services for the manufacture of clinical supplies of ICT-107, a dendritic cell-based immunotherapy targeting six tumor-associated antigens. PCT, which was previously engaged by ImmunoCellular to manufacture clinical supplies of ICT-107 and the Company's other cancer immunotherapy clinical programs, is also working with ImmunoCellular's European contract manufacturer, PharmaCell B.V., to perform a technology transfer process to harmonize the EU and US methods of production of ICT-107 for the planned phase 3 registration trial.

6:00 am Airmedia reaches a definitive agreement to sell 75% of the equity interest in its Advertising Business for RMB 2.1 bln (AMCN) : Co announced that it has entered into a definitive equity interest transfer agreement with Beijing Longde Wenchuang Fund Management Co to sell 75% equity interest of AM Advertising for a consideration of RMB2.1 billion in cash.

  • The Consideration payment will be made in two installments. The first installment of RMB800 million is required to be received within 15 working days after the executions of the Agreement and the fulfillment. The second installment of RMB1.3 billion is required to be received within 15 workings days after the later to occur of the confirmation by Buyer on the audit report of the restructured AM Advertising and the fulfillment of certain preconditions, including the termination of the equity transfer agreement with Shenzhen Liantronics Co regarding the transfer of 5% equity interest of AM Advertising to Liantronics and removal of the VIE structure in connection with AM Advertising. To complete the Transaction, the Company needs to remove the VIE structure of 
  • AM Advertising. AirMedia will hold an extraordinary general meeting to approve the Transaction and the removal of the VIE structure of AM Advertising. A Notice of the EGM will be announced soon. As the result of this Transaction with Longde Wenchuang, AirMedia intends to exercise the call option it obtained under the equity interest transfer agreement with Liantronics and terminate the equity interest transfer of 5% equity interest of AM Advertising to Liantronics. 
  • The Agreement contains an earnout structure, in the event that the net profit (before or after adjustment for non-recurring gains and losses, whichever is less) of restructured AM Advertising in each of the fiscal years of 2015, 2016, 2017, and 2018 is less than the profit target of RMB1.0592 billion (being RMB200 million, RMB240 million, RMB288 million and RMB331.2 million for the fiscal years of 2015, 2016, 2017, and 2018 respectively)
  • After the execution of the Agreement, neither party shall arbitrarily terminate the Agreement, or else shall pay the liquidated damages of RMB400 million to the counterparty

5:48 am S&P futures vs fair value: -8.60. Nasdaq futures vs fair value: -17.70. :

5:48 am European Markets : FTSE...6737.85...-47.10...-0.70%.  DAX...11061.77...-134.30...-1.20%.

5:48 am Asian Markets : Nikkei...20387.79...-19.30...-0.10%.  Hang Seng...26861.81...-418.70...-1.50%.

5:36 am Tianyin Pharma to increase stake in Tianyin-Buchang alliance (TPI) : Tianyin Pharmaceutical Co (TPI) updated that during the advanced stage of the discussions between Chengdu Tianyin and Buchang Pharma it is likely that Buchang Pharma will significantly increase its stake in the Tianyin-Buchang Alliance joint venture.

  • The total registered capital for the joint venture is RMB 200 million (~$33 million), which TPI's wholly owned subsidiary Chengdu Tianyin Pharmaceutical Co owns 95% and Buchang Pharma owns 5%.

5:35 am Boeing announced EVA Airways intends to purchase five 777 Freighters valued at more than $1.5 bln at list prices (BA) :  

5:33 am On The Wires (:WIRES) :

  • Thomas Cook Group (TCKGY) announced that it has entered into an agreement with Fosun International (FOSUF) to establish a joint venture to develop domestic, inbound and outbound tourism activities for the Chinese market under Thomas Cook brands. The joint venture will be 51% owned by Fosun and 49% by Thomas Cook. 
  • Honeywell Aerospace (HON) announced that Virgin Atlantic Airways will be the first airline to install its new flight management service to help airlines increase efficiency and improve fuel conservation.

5:28 am Vedanta Ltd and Cairn India announce merger (VEDL) : Vedanta Limited, Cairn India and Vedanta Resources plc announce a merger between Vedanta Limited and Cairn India announced a merger between Vedanta and Cairn India and Cairn India 
Key Highlights

  • Minority shareholders of Cairn India will receive for each equity share held:
    • 1 equity share in Vedanta Limited
    • 1 redeemable preference share in Vedanta Limited with a face value of INR 10
    • Implied premium of 7.3% to the previous close.
Strategic Rationale
  • Diversified Tier-I portfolio de-risks earnings volatility and drives stable cash flows through the cycle.
  • Improved ability to allocate capital to the highest return projects across the portfolio
  • Greater financial flexibility to sustain strong dividend distribution.
  • Cost savings and potential re-rating to benefit all shareholders.
    • The Transaction will contribute to further the streamlining of internal processes and improved productivity, beyond the previously announced $1.3 billion.

5:13 am On The Wires (:WIRES) :

  • Derco Aerospace has teamed with Eaton (ETN), Honeywell International (HON) and UTC Aerospace Systems (UTX) to provide an innovative and streamlined component repair solution F-16 operators and MRO facilities worldwide. 
  • Altera (ALTR) announced that its Arria 10 FPGAs have been chosen by Silkan, a provider of real-time data transmission, for its new deterministic real-time high-speed Ethernet interconnection technology.

5:07 am United Tech announces Turkish Airlines selected Pratt & Whitney PurePower Engines to power order of 72 firm and 20 option Airbus (EADSY) A321neo Aircraft (UTX) :  

5:05 am On The Wires (:WIRES) :

  • Panasonic (PCRFY) introduced the full reproduction of Neymar Jr.'s amazing skills, which enthralls people around the world, with super-real 3D computer graphic video.
  • Infinigate UK has signed an agreement with Guidance Software (GUID) in the UK to distribute their leading cybersecurity and digital investigative solutions. 
  • Allegheny Technologies (ATI) announced that it has achieved qualification for its premium-titanium products used in jet engine rotating parts made using premium-quality titanium sponge from ATI's Rowley, Utah facility. 
  • Inmarsat and KVH Industries (KVHI) announced the signing of a reciprocal distribution agreement with immediate effect. KVH becomes a non-exclusive, global distributor of Inmarsat's Fleet One and FleetBroadband services, and Inmarsat becomes a non-exclusive distributor across all vessel types for KVH's VideotelTM Basic Training Package, as well as for its NEWSlinkTM newspapers 
  • Bell Labs, the industrial research arm of Alcatel-Lucent (ALU), has become a research partner of the Technische Universitt Dresden's 5G Lab Germany. 

4:17 am Metro AG and Hudson's Bay (HBAYF) reach agreement over sale of Galeria Kaufhof valued at EUR2.825 bln (MTTRY) : Hudson's Bay Company and METRO GROUP announced that they have entered into a definitive agreement under which HBC will acquire Metro's department store group GALERIA Kaufhof and its Belgian subsidiary Inno for a transaction value of 2.825 billion, including the assumption of certain liabilities.
As a result of the acquisition, HBC will have:

  • 464 Locations Worldwide, 8 Leading Banners 
  • CAD13 bln in revenue
  • Pro Forma Sales by Market: 
    • 44% US
    • 31% Germany 
    • 23% Canada
    • 2% Belgium
With this transaction METRO GROUP will achieve a positive cash inflow of around 1.6 billion and significantly reduce its rating-relevant net debt by around 2.7 billion. Moreover METRO GROUP expects a positive EBIT effect of around 0.7 billion from the transaction.

4:08 am Raytheon: U.S. government has authorized several U.S. allies and security partners to potentially purchase via Foreign Military Sales the Raytheon AN/TPY-2 ballistic missile defense radar, for use in forward-based mode (RTN) :  

3:58 am On The Wires (:WIRES) :

  • JD.com (JD) announced that Unilever (UN) will launch a flagship store on JD Worldwide, JD.com's cross-border e-commerce platform. 
  • Pratt & Whitney, a division of United Technologies (UTX) recently received Federal Aviation Administration approval to add the PW1100G-JM engine that will power the Airbus (EADSY) A320neo aircraft to its production portfolio. The certificates were awarded to Pratt & Whitney's facilities in Middletown, Connecticut and West Palm Beach, Florida. 
  • CIT Group has selected the V2500 engine to power five Airbus (EADSY) A321ceo aircraft that it ordered in March 2015. The V2500 engine is offered through IAE International Aero Engines AG, a multinational aero engine consortium whose shareholders comprise Pratt & Whitney (UTX), Pratt & Whitney Aero Engines International GmbH, Japanese Aero Engines Corporation and MTU Aero Engines. 
  • Fast Retailing and Accenture (ACN) are forming a joint initiative to accelerate the digital innovation of consumer services for Fast Retailing's customers globally.

3:47 am Masonite International to potentially divest its French door business (DOOR) : Co announced that it has received a binding offer from Perceva, a Paris-based independent investment firm, to acquire Premdor, Masonite's French door business.

  • Pursuant to the offer, Masonite has the right to sell Premdor to Perceva on the terms included in the offer. 
  • Masonite has agreed with Perceva to an exclusivity period related to the potential sale. The sale is subject to customary conditions including receipt of regulatory approvals and consultation with French employee representatives.

3:26 am Boeing and Garuda Indonesia announce the airline's intent to purchase 30 - 787-9s and up to 30 - 737 MAX 8s (BA) : Boeing and Garuda Indonesia announced today the airline's intent to purchase 30 787-9 Dreamliners, as well as up to 30 737 MAX 8 airplanes. Boeing will work with Garuda Indonesia to finalize the order. 

  • In addition to the announcement today, the flag carrier also reconfirmed its intent to purchase 50 737 MAX 8s, originally announced in October 2014. 
  • The airline currently operates more than 90 Boeing airplanes, including Next-Generation versions of the 737, 777-300ERs and 747-400s.

3:18 am CAE reports a series of contracts for commercial airline training solutions valued at more than CAD90 mln (CAE) : Co announced a series of contracts with more than 30 airlines globally for commercial training solutions including:

  • Cadet training programs with easyJet, Air China and EVA Air for the supply of 120 cadets 
  • Pilot type-rating training solutions for airlines including West Atlantic, AeroContractors of Nigeria, Hong-Kong Airlines and Braathens Regional Airlines 
  • Crew resourcing service agreements 
  • Three B737 full-flight simulators for Hainan Airlines 
  • One A350 XWB FFS to an undisclosed airline, CAE's ninth A350 XWB FFS sale

3:15 am Niska Gas Storage to be acquired by Brookfield Infrastructure (BIP) for ~$912 mln (NKA) : Niska Gas Storage Partners (NKA) announced that it and its managing member, Niska Gas Storage Management, have entered into a definitive agreement to be acquired by Brookfield Infrastructure (BIP) and its institutional partners. Under the terms of the acquisition agreement, Brookfield will acquire all of Niska's outstanding common units for $4.225 per common unit in cash and will acquire the managing member and the incentive distribution rights in Niska.

  • The Transaction is valued at ~$911.9 million, including the assumption of debt. Based on the closing unit price on June 12, 2015, the $4.225 per unit purchase price represents a premium of ~222% to the trading price for the common units.
  • In connection with the entry into the Merger Agreement, Brookfield has committed to lend up to $50.0 million to Niska under a short term credit facility to be used for working capital purposes.

2:54 am On The Wires (:WIRES) :

  • SGI (SGI) announced that Petroliam Nasional Berhad has chosen SGI to provide high-performance computing solutions to accelerate its research and development in subsurface imaging for enhancing the probability of success in its upstream businesses. 
  • Esterline (ESL) introduced its CODIS and TREALITY display technologies for use in the commercial aerospace, defense, and training markets. 
  • Waters Corporation (WAT) introduced the Waters ACQUITY Arc System, a quaternary liquid chromatograph that gives analytical laboratories running established LC methods a clear choice for replicating or improving their separations performance. 
  • IBM (IBM) announced a major commitment to ApacheSpark, potentially the most important new open source project in a decade that is being defined by data. At the core of this commitment, IBM plans to embed Spark into its industry-leading Analytics and Commerce platforms, and to offer Spark as a service on IBM Cloud.
  • Carpenter Technology (CRS) remains confident that operations will begin soon at its new superalloy powder facility in Alabama as part of a multi-level agreement with United Technologies Corporation's (UTX) Pratt & Whitney Division. 
  • Trane, a unit of Ingersoll Rand (IR), recently introduced the Trane Sintesis family of air-cooled chillers. These chillers are now available for order in Europe, the Middle East, North and Latin America. 
  • Dassault Systmes (DASTY) announced the launch of "Build to Operate," its latest industry solution experience for aerospace and defense.

2:37 am AbbVie and Galapagos (:GLPG) present cystic fibrosis corrector and potentiator screening approach (ABBV) : Galapagos NV (:GLPG) announced a joint presentation with AbbVie (ABBV) at the 38th annual European Cystic Fibrosis Society conference.

  • The new time assays developed by Galapagos and AbbVie to evaluate the impact of corrector molecules on the rescue of CFTR-F508del and to gain insight into the influence of each component in combination cocktails. Among these was the combination of AVI-tagged CFTR with an MSD discovery platform to provide a more specific and sensitive approach in studying the endocytosis and degradation rate of plasma membrane CFTR. 
  • This particular new assay also characterizes the effect of various correctors on channel stability at the cell surface and its endocytosis/recycling, allowing for a better understanding of the mechanism of action of compounds.

2:35 am CTI BioPharma reports Tosedostat in combination with low dose Cytarabine achieves primary endpoint in Phase 2 Study (CTIC) : Co announced findings from an investigator-sponsored Phase 2 trial in patients with either primary acute myeloid leukemia or AML that has evolved from myelodysplastic syndrome. Results showed the combination of tosedostat with low dose cytarabine/Ara-C resulted in an overall response rate of 54% in elderly patients with AML -- with 45 percent of patients achieving durable complete responses.

  • Safety analysis show that tosedostat in combination with LDAC was generally well tolerated.

2:12 am Standard Pacific and Ryland Group (RYL) announce merger of equals; combined co to have enterprise value of ~$8.2 billion (SPF) : Standard Pacific (SPF) and The Ryland Group (RYL) jointly announced that their respective boards of directors have unanimously approved a definitive merger agreement pursuant to which Standard Pacific and Ryland will combine in a merger of equals to create a single company that would have an equity market capitalization of ~$5.2 billion, an enterprise value of approximately $8.2 billion, and would own or control ~74,000 homesites. In the 12 months ended March 31, 2015, the pro forma combined company delivered more than 12,600 homes in the aggregate with combined pro forma revenues of $5.1 billion.

  • The exchange ratio was established based on the 28 day volume weighted trading price of each company's common stock for the period commencing May 5, 2015 and ending June 12, 2015. 
  • At the time of the merger, Standard Pacific will implement a 1 for 5 reverse stock split, so that each 5 shares of Standard Pacific common stock will be combined into 1 share of Standard Pacific common stock. 
    • After giving effect to the reverse stock split, Ryland shareholders will receive 1.0191 shares of Standard Pacific common stock for each share of Ryland common stock (which would be 5.0957 shares prior to giving effect to the reverse stock split). 
  • It is currently anticipated that production, purchasing and other synergies from the announced transaction could result in annual cost savings of between $50-$70 million. The combined company expects to realize a significant portion of the estimated cost savings by late 2016. 

1:42 am On The Wires (:WIRES) :

  • UTC Aerospace Systems, a unit of United Technologies (UTX), is expanding its rescue hoist and cargo winch systems maintenance, repair and overhaul capabilities in Asia, Europe and the Americas. Activities are underway now and are expected to continue worldwide through 2016. 
  • Merck (MKGAY.PK) announced that the two innovative fertility technologies Gavi and Geri have cleared a major milestone, achieving CE Mark certification. Merck KGaA, With this partnership, Merck KGaA, Darmstadt, Germany, received global marketing and commercialization rights to Genea Biomedx's product portfolio. 
  • Bombardier (BDRAF) announced that, based on flight tests results, its all-new CS100 and CS300 aircraft are exceeding their original targets for fuel burn, payload, range and airfield performance. In addition, the C Series aircraft are on track to meet noise performance targets, making them the quietest commercial jets in production. 
  • Alamos Gold (AGI) and AuRico Gold (AUQ) announced the withdrawal of the proposed AuRico Metals employee share purchase plan that was to be presented at their respective Special Meetings of Shareholders to be held on June 24, 2015. 
  • UBS (UBS) Switzerland AG announced it is now operating as a fully-owned banking subsidiary of UBS AG with its own banking license. As part of the changes to UBS's legal structure, UBS AG's Retail & Corporate and Wealth Management businesses booked in Switzerland have been transferred to UBS Switzerland AG, effective June 14.

1:23 am RealD reports Jurassic World in 3D accounted for ~48% of ~$204.6 mln in domestic opening weekend (RLD) :  

1:21 am Bombardier releases its annual market forecast; 12,700 forecasted aircraft deliveries from 2015 to 2034 in the 60- to 150-seat segment, valued at $650 billion (BDRBF) : Co released its annual 20-year market forecast. With a more profitable airline industry, the need for new aircraft is expected to rise, in spite of a slower than anticipated world economic recovery. Replacement demand in established markets, such as Europe and North America, and growth potential in emerging markets, such as Greater China and South Asia, are forecasted to drive the increase in deliveries. Operators will remain focused on finding more efficient and sustainable solutions in the context of volatile fuel prices and mounting environmental concerns.

  • The 60- to 100-seat segment will continue to be one of the most dynamic in commercial aviation. It is anticipated that the fleet in this segment will more than double in size, generating demand for 5,700 new aircraft. Deliveries will be split roughly equally between regional jets and turboprops, with lower forecasted fuel prices favouring the regional jet share. 
  • The 100- to 150-seat segment, which has not been the focus of aircraft development for at least the past two decades, will witness a major fleet transformation with the entry-into-service of new clean-sheet aircraft designs. This segment is expected to generate 7,000 aircraft deliveries from 2015 to 2034.

1:11 am On The Wires (:WIRES) :

  • Ask Partner Network, an operating business of IAC (IACI), announced the current version of the Ask Toolbar is compliant with Microsoft's updated policies and requirements for third party applications, a fact also confirmed by Microsoft (MSFT). 
  • UTC Aerospace Systems, a unit of United Technologies (UTX), introduced a radar-based aircraft Taxi Strike Alert System designed to help flight crews navigate safely during taxiing operations and to detect and alert on impending collision threats with ground obstacles, including other aircraft, ground vehicles and stationary airport infrastructure. 

1:04 am United Tech Aerospace Systems to supply 12 systems for Boeing (BA) 777X (UTX) : Boeing (BA) has selected UTC Aerospace Systems for multiple systems for the new Boeing 777X large, twin-engine jet. UTC Aerospace Systems is a unit of United Technologies Corp (UTX).

  • UTC Aerospace Systems will also supply the cabin air conditioning and temperature control system, airfoil and cowl ice protection system, and the complete ventilation system suite of fans.

1:03 am Novartis presents new data from large European study reinforcing the benefit of first-line Tasigna in newly-diagnosed patients with CML (NVS) : Co announced results from the Phase 3b ENEST1st study in over 1,000 patients with newly-diagnosed, BCR-ABL positive chronic myeloid leukemia, confirming the benefits of first-line Tasigna treatment seen in earlier trials.

  • Patients on Tasigna achieved rapid and high rates of molecular response with a very low rate of progression to advanced disease 
  • ENEST1st data confirm the favorable benefit/risk profile of Tasigna in newly-diagnosed CML patients seen in the pivotal ENESTnd study 
  • Safety results in this Phase 3b study of more than 1,000 European patients were consistent with the known safety profile of Tasigna

1:01 am Celgene reports analyses of Revlimid MCL-002 Study; study showed that REVLIMID provided a reduction in the risk of progression or death vs each IC treatment (CELG) : Co announced two analyses of MCL-002, its multi-center, open-label, phase II randomized trial comparing Revlimid with investigators' choice in patients with relapsed/refractory mantle cell lymphoma, were presented.

  • The primary endpoint, median PFS was significantly improved for lenalidomide vs IC (8.7 vs 5.2 months). A pre-specified exploratory analysis was presented and examined progression-free survival in sub-groups based on prior therapies. Results examining the selected IC treatments in the study showed that REVLIMID provided a reduction in the risk of progression or death vs. each IC treatment. Compared with lenalidomide, and taking into account the small number of patients per IC group, the risk reduction in PFS was 22% vs. rituximab, 56% vs. gemcitabine, 42% vs. fludarabine, 43% vs. chlorambucil, and 8% vs. cytarabine.

12:58 am AstraZeneca reports positive Phase III results for lesinurad in combination with febuxostat in tophaceous gout patients (AZN) : Co presented results of its Phase III double-blind, multicenter, placebo-controlled trial CRYSTAL, investigating the potential of lesinurad, a selective uric acid re-absorption inhibitor (:SURI), when used in combination with the xanthine oxidase inhibitor febuxostat.

  • The results demonstrated that lesinurad in combination with febuxostat lowered serum uric acid levels and reduced tophus area to a greater extent than febuxostat alone. Lesinurad is an investigational agent that inhibits the uric acid transporter URAT1 in the kidney, increasing uric acid excretion and thereby lowering sUA. 
  • Among the key secondary endpoints, lesinurad in combination with febuxostat did not result in a significant difference in the proportion of subjects achieving a complete resolution of at least one tophus by month 12. However, lesinurad combination treatment with both 200mg and 400mg did result in greater total tophus area reduction at month 12 compared to febuxostat alone

12:54 am Novartis presents data indicating majority of patients with polycythemia vera treated with Jakavi achieved long-term disease control (NVS) : Co announced long-term safety and efficacy results from the pivotal Phase III RESPONSE study evaluating Jakavi for the treatment of patients with polycythemia vera who are resistant to or intolerant of hydroxyurea. A preplanned analysis of the study at 18 months demonstrated that 80% of patients with inadequately controlled PV treated with Jakavi experienced a durable response of sustaining hematocrit less than 45% without the use of phlebotomy and reducing spleen size, two key measures of disease control, for at least one year

  • In the study, 83% of patients in the Jakavi arm remained on treatment; findings reinforce the long-term safety profile of Jakavi

12:52 am Bluebirdbio reports new data from HGB-205 study; patients with beta-thalassemia major remain transfusion-independent at 16 and 14 Months (BLUE) : Co announced long-term follow up of two patients with beta-thalassemia major and early safety and efficacy data in the first patient with severe sickle cell disease (SCD) treated with LentiGlobin BB305 product candidate in the HGB-205 study.
Key Findings:

  • Patient with severe sickle cell disease producing 45% anti-sickling hemoglobin at six months and has been free of transfusions for more than three months 
  • Patients with Beta-thalassemia major remain transfusion-independent at 16 and 14 months, respectively 
  • First Patient with severe sickle cell disease infused in hgb-206 study

12:39 am Sequenom provides comments on U.S. Court Of Appeals for the Federal Circuit ruling on '540 Patent; believes that the ruling has little business impact (SQNM) : Co issued the following statement:
"The U.S. Court of Appeals for the Federal Circuit today upheld the ruling of the United States District Court for the Northern District of California that the claims of the Company's '540 patent are not patent eligible under the patent eligibility criteria established by the Supreme Court's Mayo Collaborative Services v. Prometheus Laboratories decision...As a practical matter, the Company believes that the ruling has little business impact, as it has been operating under the District Court's invalidity ruling since October 2013, and due to the pooling arrangement of NIPT intellectual property entered into with Illumina (ILMN) in December 2014. In addition, valid and enforceable patents with claims equivalent to those of the '540 Patent are issued in Europe, Japan, Hong Kong, Canada and Australia. The Company understands that patent eligibility under 35 U.S.C. section 101 is an emerging and complex set of issues and is considering its options for further appeal."

Read the rest of the article at finance.yahoo.com

Petroleo Brasileiro

PRODUCER
CODE : PBR
ISIN : US71654V4086
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Petrobras is a exploration company based in Brazil.

Petrobras produces natural gas and oil in Brazil.

Its main assets in production are SANTOS BASIN, CAMPOS BASIN, ESPIRITU SANTO BASIN, JEQUITINHONHA BASIN, CAMAMU-ALMADA BASIN, RECÔNCAVO BASIN, TUCANO BASIN, SERGIPE & ALAGOAS BASIN, POTIGUAR BASIN and SOLIMÕES BASIN in Brazil.

Petrobras is listed in United States of America. Its market capitalisation is US$ 95.1 billions as of today (€ 85.5 billions).

Its stock quote reached its lowest recent point on March 28, 2023 at US$ 10.00, and its highest recent level on September 18, 2024 at US$ 14.58.

Petrobras has 6 522 250 240 shares outstanding.

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Nominations of Petroleo Brasileiro
7/24/2012Petrobras - Press Release: Resignation of International Dire...
7/25/2011Petrobras - Press Release: New Board of Directors Member
Financials of Petroleo Brasileiro
2/15/2011Petrobras Invites: Conference call/webcast about the Fourth ...
8/10/2010Second Quarter 2010 Results - BR GAAP
5/15/2010First Quarter 2010 Results - BR GAAP.
5/12/2010First Quarter 2010 Results
3/16/2010Petrobras: Fourth Quarter and the Fiscal Year 2009 Results.
1/27/2010Save the date - Fourth Quarter and the fiscal year 2009 Resu...
11/28/2009Third Quarter 2009 Earnings of US$ 3.7 bi in US GAAP.
11/6/2009Third Quarter 2009 Results - BR GAAP.
8/15/2009Second Quarter 2009 Results
9/4/20082008 Second Quarter Results (Quarterly Information and Finan...
Project news of Petroleo Brasileiro
11/12/2015Clarification of News Item: Overpaying in hiring drilling ri...
10/1/2015Pre-salt: drilling confirms high quality oil potential in Ca...
4/26/201510:15 am Petrobras Brasileiro announced that its Board will ...
2/20/2013Petrobras - Press Release: New discovery of good quality oi...
1/8/2013Petrobras - Press Release: New discovery of good quality oi...
12/11/2012Petrobras - Press Release: Discovery of new light oil accum...
10/29/2012Oil and Gas Production in September 2012
10/11/2012Petrobras - Press Release: New discovery of hydrocarbons in...
10/10/2012Petrobras - Press Release: Extension well at Jupiter confir...
9/29/2012Oil and Gas Production in August 2012
9/20/2012Petrobras - Press Release: Well drilling completed at Trans...
9/14/2012Petrobras - Press Release: Production start-up of Chinook f...
9/11/2012(Campos Basin)Petrobras - Press Release: Petrobras starts production of F...
8/30/2012Oil and Gas Production in July 2012
8/25/2012Petrobras - Press Release: New oil discovery in ultra-deep ...
8/11/2012Petrobras - Press Release: Execution of contracts for chart...
8/4/2012Petrobras - Press Release: Signature of contracts for the c...
8/3/2012Petrobras - Press Release: Drilling of well in transfer of ...
8/3/2012Petrobras - Press Release: New oil discovery in
7/30/2012Oil and Gas Production in June 2012.
7/14/2012Petrobras - Press Release: Execution of contracts for the c...
7/12/2012Petrobras - Press Release: New Discovery in Esp
6/27/2012Oil and Gas Production in May 2012.
6/9/2012Petrobras - Press Release: New discovery in the Transfer of ...
6/9/2012Oil and Gas Production in April 2012.
5/28/2012Petrobras - Material Fact: Payment of interest on own capita...
5/4/2012Oil and Gas Production in March 2012.
4/28/2012Petrobras - Material Fact: Payment of interest on capital.
4/13/2012(Santos Basin)Petrobras - Press Release: New oil discovery in pre-salt of ...
3/29/2012Oil and Gas Production in February 2012.
3/20/2012(Santos Basin)Petrobras - Press Release: New oil discovery in pre-salt of ...
3/2/2012Petrobras - Press Release: Production Start-up of Cascade f...
2/29/2012(Campos Basin)Petrobras - Press Release: New pre-salt discovery in Campos ...
2/24/2012Petrobras - Material Fact: Payment of Interest on Own Capita...
2/24/2012Oil and Gas Production in January 2012.
2/10/2012Petrobras - Press Release: Approval of 26 drilling rigs cont...
2/9/2012(Santos Basin)Petrobras - Press Release: Drilling of first well in Transf...
1/2/2012Petrobras - Press Release: Discovery of new nat
12/21/2011Oil and Gas Production in November 2011.
11/26/2011(Campos Basin)Petrobras - Press Release: Discovery of new oil accumulatio...
11/25/2011Petrobras - Material Fact: Payment of Interest on own Capita...
11/25/2011Oil and Gas Production in October 2011.
10/24/2011Oil and Gas Production in September 2011.
9/22/2011Oil and Gas Production in August 2011.
8/24/2011Petrobras - Material Fact: Payment of Interest on own Capita...
8/24/2011Oil and Gas Production in July 2011.
7/16/2011Oil and Gas Production in June 2011.
7/8/2011Petrobras - Press Release: Lula Pilot Project confirms high...
6/29/2011(Campos Basin)Petrobras - Press Release: New discovery in ultra-deep wate...
6/17/2011Petrobras - Press Release: Acquisition of exploration blocks...
6/16/2011Oil and Gas Production in May 2011.
6/10/2011Petrobras - Press Release: Oil and gas discovery in the Gulf...
6/10/2011Petrobras - Press Release: New Discovery inEsp=EDritoSanto B...
5/21/2011Oil and Gas Production in April 2011.
4/30/2011Petrobras - Material Fact: Payment of interest on capital.
4/29/2011(Campos Basin)Petrobras - Press Release: New Discovery in Campos Basin Pre...
4/26/2011Oil and Gas Production in March 2011.
3/29/2011Petrobras - Material Fact: Payment of Interest on Own Capita...
2/22/2011Oil and Gas Production in January 2011.
2/16/2011(Santos Basin)Petrobras - Press Release: New Discovery in Santos Basin pre...
2/11/2011Contracting of the construction and chartering of drilling r...
7/15/2010(Santos Basin)Starting production at the Urugua Field.
7/14/2010(Espiritu Santo Basin)Starting production in the Espirito Santo pre-salt.
11/16/2009(Santos Basin)Light oil discovery in the Santos Basin.
11/12/2009(Santos Basin)Drilling of the fourth well reinforce estimations for Tupi
9/15/2009(Santos Basin)New accumulation in the Santos Basin Pre-Salt.
1/26/2009(Santos Basin)Discovery of Important Gas Accumulations in Shallow Waters o...
1/16/2009(Santos Basin)Petrobras’ Proved Reserves in 2008.
Corporate news of Petroleo Brasileiro
8/5/2016Approval of amendments in the Bylaws and creation of the Str...
8/3/2016Confirmation of Extraordinary General Meeting
8/2/2016Stay of the Class Action and the individual actions in New Y...
8/2/2016We have completed the sale of Petrobras Argentina
8/1/2016Agreement to sell Petrobras Chile is signed
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1/26/2016Extension of the Term of Office of the Chairman of the Board...
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1/26/2016Oil & Gas Drilling & Exploration Industry Stocks Technical R...
1/21/2016Clarification on News: Approval of Internal Restructuring
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1/20/2016Petrobras bonds keep dropping on unit sale news
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1/12/2016[$$] Petrobras cuts 5-year investment budget 25%
12/30/2015Clarification on News: Decision on the motion to dismiss in ...
12/30/2015Petrobras Closes $700 Million Asset Sale Program for 2015
12/30/2015[$$] Scandal-hit Petrobras faces new challenge
12/29/2015OPEC Expects U.S. Oil Production To Rise In 2016… Really?
12/28/2015Conclusion of Sale of Interest in Gaspetro
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12/28/2015CEO Aldemir Bendine talks about our challenges and achieveme...
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12/24/2015Little Christmas joy for Brazil's jailed high and mighty
12/23/2015New Naphta Agreement with Braskem
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12/22/2015Brazil antitrust body probes 21 companies in Petrobras case
12/22/2015Tests in the Carcará area, in the pre-salt layer of the Sant...
12/22/2015Brazil's new Finmin Barbosa sees no need to bailout Petrobra...
12/18/2015Election of the Corporate and Services Director
12/18/2015Election of the Chairman of the Board of Directors
12/18/2015Brazil speeds leniency for corrupt firms to save jobs
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12/18/2015UPDATE 2-Brazil prosecutors charge 12 in SBM Offshore graft ...
12/17/2015Fitch reviews Petrobras’ rating
12/17/2015LATAM WRAP-Modest recovery for Brazil after downgrade
12/17/2015Brazil's BTG Pactual founder wins release, bank's shares jum...
12/17/2015[$$] Former BTG boss André Esteves released from jail
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12/17/2015Brazil prosecutors charge 12 in SBM Offshore graft scheme
12/17/2015Brazil prosecutors investigating suspected bribery in Esteve...
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11/30/2015Clarification of News Item: Irregularities in the contractin...
11/30/2015Brazil House Speaker denies bribery reports
11/30/20158:35 am Petrobras Brasileiro Chairman Murilo Pinto de Olivei...
11/30/2015Resignation of Petrobras Chairman
11/30/2015BTG Pactual replaces Esteves as chief
11/27/2015Lawyer detained for obstructing Brazil corruption probe
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11/26/2015Brazil judge denies release of BTG Pactual CEO Esteves
11/25/2015Brazil police arrest government Senate leader
11/24/2015Brazil businessman arrested on suspicion of fraud
11/23/2015Clarification of News Item: Transfer of funds via hybrid equ...
11/13/2015Resignation of Petrobras Alternate Board Member Mr. Dan Anto...
11/13/2015Third quarter of 2015 results
11/13/20153Q15 Webcast Invitation
11/13/2015Appointment of New Head Ombudsman
11/13/2015Petrobras reports 3Q loss
11/12/2015Declaration of the Commercial Viability of the Sépia Leste a...
11/6/2015Update on Oil Workers’ Strike - 11/04
11/6/2015Update on Oil Workers’ Strike - 11/05
11/5/2015Petrobras says it reduced output loss due to strike to 127,0...
11/5/2015Petrobras strike cuts output by 100,000 barrels on Thursday ...
11/5/2015Noble Corp. Dealt with Agent in Petrobras Scandal
11/5/2015Update on Oil Workers’ Strike
11/4/2015Clarification of News item: Resignation of Board of Director...
11/4/2015Petrobras strike hits oil firms output
10/29/2015Persistence points a way across the cultural divide
10/28/2015Clarification on News: Indemnification for piped gas service...
10/27/20153rd Quarter 2015 Results Release Date
10/25/2015More fund managers sue scandal-hit Petrobras
10/24/2015Approval of Sale of Interests in Gaspetro
10/24/2015Clarification of News item: Petrobras has already received a...
10/24/2015Postponement of the IPO of Petrobras Distribuidora
10/24/2015Gaspetro’s spin-off
10/23/2015Brazil to monitor its multinational firms for corruption abr...
10/20/2015How Has Low Oil Price & Money Laundering Hurt Petrobras?
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10/9/2015Clarification on News Article: Divestment in Mature Fields
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10/9/2015Adjustments in the Business and Management Plan 2015-2019: A...
10/9/2015Clarifications about News on the media: Foreign partners’ in...
10/8/2015Historic Failure For Brazilian Oil Auction
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10/4/2015Another Crazy Week For The Brazilian Real & Bovespa
10/2/2015Clarification on news article: Reduction in Investments
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10/1/2015Brazil surprises as rally extends
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9/23/2015The 52-Week Low Club for Wednesday
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9/21/2015Petrobras scheme started with Lula's chief of staff -prosecu...
9/21/2015Brazilian police begin 19th round in probe of Petrobras
9/4/2015Brazil prosecutors charge Lula's former chief of staff
9/4/2015Brazil's former chief-of-staff charged with corruption
9/4/2015Petrobras Again Ends Drilling Contract to Save Day Rates
9/3/2015Judge accepts charges against ex-head of nuclear power firm
9/3/2015LATAM WRAP-Venezuela rallies as Brazil continues to underper...
8/21/2015Sinking currencies point to jitters about emerging economies
8/21/2015Petrobras (PBR) Operational Update: July Production Improves
8/21/2015Lula's legacy threatened as Brazil crisis simmers
8/20/2015Will Corruption Scandal Cost Petrobras (PBR) $1.6 Billion?
8/20/20156:08 am Petrobras Brasileiro issues a clarification to media...
8/20/2015Oil and Natural Gas Production up in July
8/20/2015Clarification of News Item: Payment of fine for the winding ...
8/19/2015Petrobras says not in negotiation to settle with U.S. author...
8/19/20156:08 am Petrobras Brasileiro reports its oil and natural gas...
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8/18/2015This Bridge to Nowhere Hints at Global Reach of Brazil Graft
8/18/2015Petroleo Brasileiro Petrobras SA (ADR) (PBR) Falls on Settle...
8/11/2015China's currency move will hurt one country more than any ot...
8/10/2015Ultrapar keen to acquire some Petrobras gas assets, paper sa...
8/7/2015Clarification of news article: Update on 2030 Strategic Plan
8/7/2015Our net income in the 1H-2015 was R$ 5.9 billion
8/7/2015LATAM WRAP-Brazil credit off lows in illiquid market
8/7/2015Unemployment Rose to 6.90% in Brazil: EWZ Fell 2.02%
8/7/2015Braskem CEO sees "no grounds" for Petrobras deal accusation
8/7/2015Industrial Contraction Adds to Brazil’s Woes, EWZ Falls 2.12...
8/7/2015Petrobras Misses on Q2 Earnings, Oil Prices Remain Weak - An...
8/7/2015Filing for registration of initial public offering of shares...
8/7/2015Petrobras to seek regulatory approval for fuel-unit IPO
8/7/2015Extension of Corporate and Services Director’s leave
8/7/2015Fed move could add pain to emerging-markets hangover
8/7/2015Settlement of Tax Contingency
8/7/2015Board of Brazil's Petrobras approves plan for fuel unit IPO
8/7/2015Petrobras profit slumps; surprise writedown defies outlook
8/7/2015Petrobras profits dive 90 per cent
8/7/2015Former Petrobras executive charged, said to favor Vantage Dr...
8/6/2015Petrobras profit slumps 89 pct on unexpected charges
8/6/20152Q15 Webcast Invitation
8/6/2015Our production start-up in Iracema Norte
8/4/2015Former Brazil chief of staff arrested in Petrobras scandal
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8/3/2015Brazilian prosecutors arrest former Lula aide in Petrobras c...
8/3/2015Brazil police arrest Lula minister in bribery scandal
8/3/2015Exclusive: Petrobras drags heels on Brazil fuel-price policy...
7/31/2015Petrobras begins production in Iracema Norte
7/31/2015Brazil's Petrobras receives more than $20 million
7/31/2015Settlement of Tax Contingency
7/31/2015Clarification of Press Article: Costs Reduction
7/31/2015Clarification on News: Board of Directors’ Meeting
7/31/2015Clarification on News: Petrobras Distribuidora offering
7/31/2015New Decision on the Parque das Baleias Arbitration
7/31/2015Oil and Natural Gas Production on June
7/31/2015Clarification on News: Contract with Braskem
7/31/2015Fortune Ranking: We are 28th among the 500 largest companies...
7/24/2015Brazilian oil workers go on a 24-hour strike
7/21/2015Company executives convicted in Brazil's Petrobras scandal
7/8/2015Brazil detects billions in suspicious financial activity
7/8/2015Brazil's detects billions in suspicious financial activity
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7/6/2015Petrobras' Divestment Plans Attract Explorers' Attention - A...
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6/19/2015Brazil police arrest chief executives of construction firms
6/19/2015Powerful Brazilian CEO arrested in Petrobras graft probe
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3/19/2013Petrobras - Press Release: Negotiations for contracting 2 ne...
3/16/2013Petrobras Invites: Webcast 2013 =E2?? 201nt Plan
3/16/2013Petrobras - Relevant Fact: 2013 =E2?? 2017 Business & Manage...
2/20/2013(Santos Basin)Petrobras - Press Release: Petrobras starts prold, in Santos...
2/15/2013Petrobras - Press Release: Petrobras starts=2Dupproduction o...
2/5/2013=2D Petrobras=E2?? oil and gas p
2/5/2013Petrobras - Press Release: 2012: Net Income of R$ 21.2 billi...
1/30/2013Petrobras - Press Release: Gasoline and Diesel Prices Readju...
1/26/2013Visit Petrobras at Orlando MoneyShow
1/12/2013Petrobras - Press Release: Petrobras creates program to ass...
1/11/2013Petrobras - Material Fact: Petrobras=E2?? ProvenReserves in ...
1/9/2013Petrobras - Press Release: New well off the coast of Esp=C3=...
1/7/2013Petrobras - Press Release: Petrobras starts com Sapinho=C3=A...
11/13/2012Petrobras - Press Release: FPSO contracting for Iracema Nort...
11/5/2012Petrobras - Press Release: Court decision regarding Withhol...
11/2/2012Petrobras - Press Release: Declaration of Natural Gas Volume...
10/27/2012Petrobras - Press Release: 3Q12: Net Income of R$ 5.56 billi...
10/18/2012Petrobras - Press Release: Operating Costs Optimization Prog...
10/18/2012(Santos Basin)Petrobras - Press Release: New extension well confirms good...
10/15/2012Petrobras - Press Release: Execution of Letterof Intent for ...
10/3/2012Petrobras - Press Release: Suspension of the injunction that...
9/28/2012Petrobras - Press Release: Writ of mandamus against injuncti...
9/25/2012Petrobras - Press Release: Pricing of Global Notes
9/14/2012Petrobras - Press Release: Petrobras participates in the Do...
8/23/2012Petrobras - Press Release: Petrobras completed the drilling...
8/14/2012Petrobras - Press Release: New facts on the dis
8/4/2012Petrobras - Press Release: 1S12: Net Income of R$ 7,9 billio...
7/20/2012Petrobras - Press Release: Execution of contracts for the pr...
7/19/2012Unsubscribe.

7/13/2012Petrobras - Press Release: Increase of Diesel Price
6/30/2012Petrobras - Press Release: Execution of Agreement: Pasadena ...
6/20/20122012-2016 Petrobras Business Plan
6/20/20122012-2016 Business Plan: events in Brazil
6/14/2012Petrobras - Material Fact: 2012 =E2?? 2016 Business Plan
5/24/2012Petrobras - Press Release: Potential of block BM-C-33 in pre...
5/16/2012Petrobras - Press Release: Change of the Engineering Directo...
5/16/2012Petrobras - Press Release: 1Q12: Net Income of R$ 9.2 billio...
5/15/2012Petrobras - Material Fact: Dividends Payment.
5/8/2012Petrobras - Press Release: Petrobras signs agreement to con...
5/5/2012Petrobras Invites: Conference call/ webcast about the First ...
5/3/2012Petrobras - Press Release: Clarification about news
4/28/2012Petrobras - Press Release: Changes to the Executive Board.
4/10/2012(Santos Basin)Petrobras - Press Release: Extension well confirms discover...
4/2/2012Petrobras - Press Release: Form 20F - 2011 filed
3/20/2012Petrobras - Press Release: Resolutions of the Ordinary and ...
3/9/2012Petrobras - Press Release: Election of the empl
3/9/2012Petrobras - Press Release: Second well drilled in Assignmen...
3/3/2012Petrobras - Press Release: Start up of FPSO BW
2/29/2012Petrobras - Press Release: Nomination of Corporate Services ...
2/29/2012Petrobras - Press Release: 2011: Net Income of US$ 20.1 bill...
2/29/2012Petrobras - Press Release: RESOLUTIONS OF THE EXTRAORDINARY...
2/24/2012(Santos Basin)Petrobras - Press Release: New Well confirms light oil in S...
2/24/2012(Santos Basin)Petrobras - Press Release: Declarations of Commerciality of...
2/16/2012Petrobras - Press Release: Clarification about 4Q11 Results
2/15/2012Petrobras - Press Release: CALL FOR MEETING - OGM/E on March...
2/10/2012Petrobras - Press Release: Petrobras approves leasing contr...
2/10/2012Petrobras - Press Release: NOTICE OF MEETING - Extraordinar...
2/10/2012Petrobras - Press Release: Executive Board Changes.
2/10/2012Petrobras - Press Release: 2011: Net Income of R$ 33.3 billi...
2/9/2012Petrobras - Press Release: Investment agreement
2/7/2012Petrobras - Press Release: Petrobras Issues US$ 7 billion in...
2/4/2012Petrobras - Press Release: Petrobras discovers oil and natu...
2/2/2012Petrobras - Press Release: Petrobras Prices Global Notes.
1/30/2012Petrobras - Press Release: Election of Board member represe...
1/28/2012Petrobras - Press Release: Resolutions of the Extraordinary ...
1/27/2012Petrobras Invites: Conference call/ webcast about the Fourth...
1/25/2012Unsubscribe.
1/23/2012Petrobras - Press Release: Clarification about news: Replace...
1/20/2012Petrobras - Press Release: Accounting Audit Contract.
1/20/20122011 Production.
1/12/2012Petrobras - Material Fact: Petrobras=E2?? Proved
12/30/2011Petrobras - Press Release: Declaration of Comme
12/29/2011Petrobras - Press Release: New Depositary Bank for ADRs
12/26/2011Petrobras - Press Release: Call for Meeting - Extraordinary ...
12/20/2011Petrobras - Press Release: Resolutions of the Extraordinary ...
12/2/2011Petrobras - Press Release: Petrobras Prices Global Notes
11/30/2011Petrobras - Press Release: Information concerning the partn...
11/30/2011(Santos Basin)Petrobras - Press Release: New well finds good quality oil ...
9/21/2011Petrobras - Press Release: Petrobras confirms oil and gas d...
9/20/2011Petrobras - Press Release: Lula=2DMexilh=C3=A3o Gas P
9/13/2011Petrobras - Press Release: Clarification on News: Abreu Lima...
9/9/2011Petrobras - Press Release: Petrobras was selected to compos...
8/31/2011Petrobras - Press Release: Clarification on nitrogenous asse...
8/25/2011Petrobras - Press Release: 1H11 Earnings of US$ 13.2 bi in U...
8/24/2011Resolutions of the Extraordinary General Meeting.
8/17/2011Petrobras - Press Release: Platform P-56 begins production ...
8/16/2011Petrobras - Press Release - Results for the 2nd Quarter of 2...
8/13/2011Petrobras Invites: Conference call/ webcast about the Second...
7/30/2011Petrobras - Press Release: Guar=C3=A1 Extension Wel
7/30/2011Petrobras - Press Release: G=C3=A1s Brasiliano Acqu
7/26/2011Petrobras Invites - Business Plan 2011-2015 Presentation
7/25/2011Petrobras Invites: Conference call/webcast about the 201lan
7/5/2011Petrobras - Press Release: New Discoveries in E
7/2/2011Petrobras - Press Release: Petrobras acquires 50% of biodie...
6/28/2011Petrobras - Press Release: Petrobras Starts Extended Well Te...
6/23/2011Petrobras - Material Fact: Dividends Payment
6/18/2011Petrobras - Press Release: Clarification on Business Plan 20...
6/11/2011Petrobras - Material Fact: Resign of Board Member.
6/1/2011Petrobras - Press Release: Clarification about Platforms P-6...
5/26/2011Petrobras - Press Release: Form 20F - 2010 filed
5/26/2011Petrobras - Press Release: 1Q11 Earnings of US$ 6.5 bi in US...
5/18/2011Petrobras - Press Release: Clarification on Business Plan Re...
5/18/2011Petrobras - Press Release - Executive Board
5/14/2011Petrobras - Press Release - Business Plan review
5/14/2011Petrobras - Press Release - Results for the 1st Quarter of 2...
5/14/2011Petrobras Invites: Conference call/webcast about the First Q...
5/11/2011Petrobras - Press Release: Petrobras will appeal to the judi...
5/2/2011(Santos Basin)Petrobras - Press Release: Santos Basin pre-salt development...
4/29/2011Petrobras - Press Release: Resolutions of the Ordinary and E...
4/28/2011Petrobras: Petrobras starts Lula Nordeste EWT
4/19/2011Petrobras - Press Release: Start of EWT of Brava Area
4/15/2011Petrobras - Press Release: Cooperation Agreements with Chine...
4/12/2011Petrobras:Guar=E1Extension Well confirms high productivity i...
4/1/2011Acquisition of INNOVA
3/22/2011Oil and Gas Production in February 2011.
3/17/2011Petrobras - Press Release: 2010 Earnings of US$ 19.1 bi in U...
3/2/2011Petrobras - Press Release: Temporary Interruption of EWT atG...
3/2/2011Petrobras - Press Release: Extension well confirms good qual...
3/2/2011Petrobras - Material Fact: Merger of CompanhiaMexilh=E3odo B...
2/26/2011Petrobras - Material Fact: Distribution of Dividends.
2/26/2011Petrobras - Press Release | 2010: Record Net Income of R$ 35...
2/25/2011Petrobras - Press Release: Start of EWT in pre-salt of Marli...
2/22/2011Petrobras acquires exploratory block in Benin, Africa.
2/18/2011Petrobras - Press Release: Cherne Platform restarts producti...
2/11/2011Clarification on Cherne II Platform.
8/21/2010Preliminary Assessment of Certification Company.
8/20/2010Oil and Gas Production in July 2010.
8/19/2010Clarification on the Price of the Barrels of Oil subject to ...
8/14/20102Q10: Net Income of R$ 8.29 billion
8/12/2010Resolutions of the Extraordinary General Meetings
8/3/2010Clarification on Public Share Offering
7/29/2010Notice of Extraordinary Shareholders Meeting
7/19/2010Crude Oil and Natural Gas Production
7/17/2010Material Fact: Payment of interest on capital.
7/7/2010Ethanol Pipeline Distribution System
7/6/2010Technological partnership for biofuel segment
6/30/2010Brazilian President Signs Bill for Transfer of Rights with C...
6/29/2010Clarifications about the Capitalization : Payment by the Bra...
6/25/2010Clarifications about the Capitalization.
6/24/2010New well confirms the light oil potential in Tupi
6/24/2010Credit line from Norwegian Export Credit Agency
6/23/2010Analysis of downstream opportunities with Manguinhos Refiner...
6/23/2010Transfer of Rights and Capitalization
6/23/2010Oil discovery in the Albacora Leste pre-salt layer
6/23/2010Resolutions of the Extraordinary General Meetings
6/21/20102010 - 2014 Business Plan
6/12/2010Signs lease agreement for the Inhauma Shipyard
6/11/2010Clarification about the Capitalization
6/11/2010Approval of the Capitalization & Transfer of Rights with Com...
6/3/2010Quiet Period and Global Coordinators
6/4/2010New Pre-Salt discovery in the Marlim Field
6/3/2010Filing of the Reference Form
6/3/2010Clarification on the hiring of an FPSO
6/1/2010FPSO lease for Tupi Nordeste Field
6/1/2010Acquires exploration block in New Zealand.
6/1/2010FPSO Capixaba begins operating in Cachalote field.
5/28/20101Q10 Earnings of US$ 4.3 bi in US GAAP
5/27/2010Acquisition of Gas Brasiliano Distribuidora.
5/27/2010Payment of interest on capital.
5/26/2010New Discovery in Caratinga Field.
5/25/2010Clarification about Comperj Investments.
5/20/2010Form 20F - 2009 filed.
5/18/2010Preliminary Agreement for investments in Saudi Arabia.
5/14/2010Incident on alternative oil offloading system monobuoy.
5/12/2010Clarification on the lease of Ishibras and ICMS Tax of P-36.
5/7/2010Production Record in April.
5/5/2010Invests in biodiesel production in Para
5/5/2010Petrobras Energia sells refinery and part of the distributio...
5/5/2010Contract for new vessels.
5/4/2010Clarification on Guará, Carioca e Piracucá
5/3/2010Investment in biodiesel production in Portugal in partnershi...
5/1/2010Material Fact - Partnership between Petrobras and Tereos in ...
5/1/2010New agreement for hydrocarbon exploration in Portugal.
5/1/2010Clarifications on Capitalization and Transfer of Rights with...
4/30/2010Contracting for pre-salt development
4/28/2010New partnership for the development of Comperj.
4/27/2010Clarifications about news.
4/22/2010Crude Oil and Natural Gas Production.
4/16/2010Cooperation Agreement with China.
4/14/2010Clarification on capitalization and drilling in Tupi.
4/14/2010Acquisition of Participating Interest in Australia.
4/9/2010Clarification on sales of downstream assets in Argentina.
3/30/2010Petrobras Investments
3/27/2010Insurance Policy renewal
3/27/2010New member for the Minority Shareholder's Committee
3/26/20102009 Earnings of US$ 15.5 bi in US GAAP
3/24/2010Clarification on the Capitalization Process
3/24/2010Tupi Test confirms high level of productivity
3/23/2010EWT for Tiro gets underway
3/23/2010Crude Oil and Natural Gas Production.
3/20/2010Decisions of the Board of Directors.
3/13/2010US Court reassert the decision about Pasadena Refinery.
3/11/2010Clarification regarding the BM-S-9.
3/9/2010Clarifications on 2010 Capex and Release of 2009 Results.
2/25/2010Oil Discovery in Deep Campos Basin Waters.
2/24/2010Crude Oil and Natural Gas Production.
2/23/20104th Quarter and the Fiscal Year 2009 Results.
2/18/2010Oil discovery in Angola
2/12/2010Clarification about news:Tupi?svolumes estimation.
2/11/2010Merger of shares of Braskem.
2/11/2010Oil Discovery in Shallow Campos Basin
2/9/2010Exploitation activities at Uruguay.
2/1/2010Clarification about News: Capitalization Amount.
1/29/20102009 Trade Balance.
1/28/2010Clarification about news: Papa Terra Project.
1/27/2010Acquisition of Participation in the Cascade Field.
1/28/2010Negotiations forGuar=E1 Pilot Project.
1/22/2010Restructure of the Petrochemical Segment
1/19/2010Oil and Gas Production in 2009
1/14/2010Clarifications about news: Association with Galp and Revisio...
1/4/2010Acquisition of the SPC NovaMarlim.
1/4/2010Clarification about News: Strategic Alliances for Petrochemi...
12/22/2009Equity acquisition of ethanol plant.
12/19/2009Agreement between Petrobras and YPFB.
12/15/2009Equity Interest.
12/8/2009Formation tests prove the potential of Iara.
12/4/2009Approves the hiring of Vessels.
12/3/2009Execution of contracts for the Abreu e Lima Refinery.
12/2/2009Authorization for new drilling in the pre-salt region.
11/25/2009Payment of Interest on Capital.
11/20/2009Clarifications on Capitalization and Transfer of Rights.
11/18/2009Test in the Tupi area proves high productivity.
11/18/2009Biocombustivel acquires 50% stake in a Biodiesel Plant
11/17/2009Natural gas liquefaction project in the Pre-Salt.
11/17/2009New oil discovery in Angola.
11/6/2009Clarification about News: Activities in Peru.
11/5/2009Acquisition in Chile.
11/4/2009Potential Investments in Saudi Arabia.
11/4/2009Execution of loan agreement with the China Development Bank ...
10/31/2009Petrobras Issues US$ 4 billion in 10- and 30-year Notes.
10/30/2009Petrobras and PDVSA agree with the conditions to build Refin...
10/24/2009Material Fact: Payment for Special Participation for the Mar...
10/24/2009Pricing of 10-year notes and 30-year notes
10/20/2009Plans to Issue Global Securities.
9/22/2009Distribution of Interest on Own Capital
9/12/2009Strategy for the construction of up to 28 drilling rigs in B...
9/9/2009Invites: The Exploration and Production Regulatory Model (Ch...
9/9/2009New accumulation in the Pre-salt proves high productivity.
9/8/2009Tupi well test re-started.
9/4/2009Petrobras` listing on the Dow Jones Index renewed.
9/2/2009Oil discovery in the Gulf of Mexico.
8/31/2009New exploration and production regulatory model.
8/8/2009Pre-Salt Working Group
8/7/20092Q09 Trade Balance
7/13/2009Depositary bank for Petrobras shares.
2/5/2009Clarification on recent news.
2/5/2009incorporates the companies of the Rio de Janeiro Petrochemic...
1/27/2009Trade Balance
1/26/2009Business Plan 2009-2013.
1/23/2009Petrobras Invite: 2009-2013 Business Plan
12/23/2008Petrobras - Press Release: Clarification about Investments f...
12/15/2008Funding for the Mexilhão Project
12/12/2008Loan from Japanese banks.
12/10/2008Clarifications on the Business Plan.
12/8/2008Clarifications on Investments at Petrobras.
11/27/2008Discovery in the Jequitinhonha Basin.
11/5/2008Invite: 3Q08 Results - Petrobras changes the schedule.
11/4/2008changes the date of APIMEC Meeting in S
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NYSE (PBR)
14.58-1.09%
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