10:49 am Kenon Holdings provides update in respect of its stake in Tower Semiconductor (TSEM) and its interest in Qoros (KEN) : Kenon's Board of Directors has approved the convocation of an EGM at which Kenon's shareholders will be asked to approve a capital reduction to enable Kenon to distribute, on a pro rata basis, some, or all, of the 18,030,041 ordinary shares of Tower (TSEM) held by Kenon, as well as 1,669,795 ordinary shares of Tower underlying the 1,669,795 Series 9 Warrants of Tower 

• Kenon's Board also has approved a RMB400 million (approximately $65 million) shareholder loan to Qoros to promote its growth and development, subject to Chery Automobile Co. Ltd.'s ("Chery") concurrent provision of a RMB400 million shareholder loan to Qoros. In addition, Kenon's Board of Directors has approved Kenon's provision of a RMB175 million (approximately $28 million) direct, or back-to-back, guarantee (as discussed below) in connection with Qoros' entry into a new financing agreement, subject to Chery's provision of a similar guarantee. 

10:43 am Limited push off morning lows -- Dow -111, S&P -12.9, Nasdaq Comp -44 (:TECHX) : Noted support for the S&P at 2091/2090 (congest/50 day sma) in The Technical Take (10:02 update) with the index attempting to stabilize after sliding as low as 2090.62. Thus far the move has been limited in scope with initial intraday resistance at 2096/2098.

10:31 am ZaZa Energy has closed on a definitive agreement with an institutional investor for a cash financing of $2.5 mln in gross proceeds (ZAZA) : Under the terms of the agreement, ZaZa has issued shares of its newly designated Series A 5% Convertible Preferred Stock in a private placement (the "Preferred Stock"). The Preferred Stock has a total liquidation preference of $2.5 million and is convertible, at the option of the holder, into 2,500,000 shares of common stock, subject to anti-dilution protections customary for this type of transaction. The agreement also provides for the issuance by the Company of warrants to purchase up to 1,875,000 shares of the Company's common stock with an initial exercise price of $2.25, subject to anti-dilution price protections customary for this type of transaction. Each warrant will be exercisable into one share of ZaZa common stock, for a period of five years beginning six months after the close of the transaction.

10:25 am Minor new session lows -- Dow -129, S&P -15, Nasdaq Comp -50 (:TECHX) :  

10:20 am Relative sector weakness (:TECHX) : Sectors that have underperformed the S&P on a relative basis include: Biotech IBB, Housing XHB, REITs IYR, Airline, Coal KOL.

10:18 am Weingarten Realty announces redemption of 6.5% Series F Cumulative Redeemable Preferred Shares will lead to $9.8 mln charge; reaffirms 2015 Recurring FFO guidance (provided 4/28) (WRI) : The co had previously announced it would redeem all of its $150 million, 6.5% Series F Cumulative Redeemable Preferred Shares of Beneficial Interest on April 7, 2015. The co noted this redemption will result in a non-cash charge for unamortized redemption costs of $9.8 million or $0.08 per diluted share upon redemption. The charge will not affect Recurring Funds from Operations  guidance, but reduces the Company's Reported FFO guidance by $0.08 per share for 2015 to a range of $2.00 - $2.05 per share. The Company maintains its Recurring FFO guidance of $2.12 - $2.17 per share (as provided in its Q1 earnings on 4/28) vs. the Capital IQ consensus estimates of $2.13 per share

10:02 am Morning slippage extended -- Dow -120, S&P -15, Nasdaq Comp -42 (:TECHX) : The S&P has set a new low for the week at 2091 in recent trade to test support at 2091/2090 (congestion, 50 day sma).

9:57 am Sears Hldg And The Macerich Company (MAC) create 50/50 JV involving nine Sears Holdings properties located at Macerich malls (SHLD) : Sears Holdings contributed nine properties where Sears currently operates stores located at Macerich (MAC) malls to the JV, including property with space leased to third parties. Sears Holdings will lease back from the JV and continue to operate existing Sears Holdings stores at the properties contributed to the JV.  Macerich contributed $150 million in cash to the JV, which has been distributed to Sears Holdings.

• The total purchase price for the 9 properties in the transaction is $300 million. In exchange for $150 million and a 50% JV interest, Sears Holdings contributed to the JV the 9 properties located at Macerich malls where Sears Holdings currently operates stores. Macerich contributed $150 million in cash for its 50% JV interest, which has been distributed to Sears Holdings in accordance with the terms of the agreements between the parties.  
  

9:52 am New session lows for market averages -- Dow -86, S&P -11, Nasdaq Comp -27 (:TECHX) :  

9:52 am Majesco Entertainment announces a $5 mln subscription agreement with accredited investors, with a purchase price of $1.20/unit (COOL) : Each Unit consists of one share of the Company's Common Stock or shares of the Company's 0% Series C Convertible Preferred Stock, and one three-year Warrant to purchase one share of the Company's common stock at an initial exercise price of $1.40.

• Pursuant to warrant exchange agreements, the Company will retire 8,823,529 warrants exercisable at $0.68 per share in exchange for shares of the Company's Common Stock or shares of 0% Series B Preferred Convertible Stock
  

9:48 am Diana Shipping completes drawdown of $30 mln (DSX) : The proceeds will be used to partially finance the acquisition cost of a Capesize dry bulk vessel, the m/v Santa Barbara, which was delivered to the Company on January 12, 2015.

9:47 am Capital One confirms previously announced dividend increase plans, quarterly payment is now $0.40/share up from $0.30/share (COF) :  

9:45 am Opening Market Summary: Stocks Slide out of the Gate (:WRAPX) : The major averages began the day with slim losses. The Nasdaq Composite it lower by 0.3% while the S&P 500 (-0.2%) hovers a bit closer to its flat line.

Eight sectors display opening losses with the top-weighted technology sector down 0.3%. Elsewhere, the utilities sector (-0.9%) is the only group with a larger decline, but the countercyclical sector represents just 3.0% of the market.

On the flip side, the telecom services sector (+0.1%) holds a slim gain while most other groups sit near their flat lines.

Just released, the Chicago PMI for April rose to 52.3 from 46.3, while the Briefing.com consensus expected an increase to 50.0.

9:45 am Sector Watch (:TECHX) : Sectors on the defensive in early trade include: Silver SLV, Gold Miners GDX, Gold GLD, Steel SLX, Mining XME, Utility XLU, Coal KOL, Transports IYT, Ag/Chem MOO, Telecom IYZ.

9:41 am Stock indices stabilize after minor opening weakness but limited recovery thus far -- Dow -20, S&P -3.5, Nasdaq Comp -11 (:TECHX) :  

9:39 am StarTek announces entrance into a new five year, $50 mln secured revolving credit facility (SRT) : The facility has an "accordion" feature to borrow up to $70.0 million and will replace the Company's $20.0 million secured line of credit. Under the new agreement, the interest rate on borrowings will decrease from LIBOR plus 2.50%-3.00% to LIBOR plus 1.75%-2.25%.

9:31 am GoDaddy announces it has bought the domain name GDDY.com; terms not shared (GDDY) :  

9:27 am DuPont comments on the recommendations by proxy advisory firm Glass Lewis: 'Firm reached the wrong conclusion in failing to recommend a vote for all 12 of DuPont's nominees on the White proxy card' (DD) :  

9:21 am American Water Works announces agreement to acquire wastewater service provider, Environmental Disposal Corporation; financial terms not disclosed (AWK) :  

9:18 am Advaxis priced its underwritten public offering of 2.8 mln shares of its common stock at a public offering price of $19.00 per share (ADXS) :  

9:16 am Scorpio Tankers priced its 15 mln share public offering at $9.30/share (STNG) :  

9:15 am DS Healthcare Group has regained compliance with the listing requirements of the NASDAQ Capital Market (DSKX) :  

9:12 am S&P futures vs fair value: -9.60. Nasdaq futures vs fair value: -27.10. (:WRAPX) : The stock market is on track for a lower open as futures on the S&P 500 trade ten points below fair value. S&P futures have spent the bulk of the night in the red, but they have been able to trim their losses in recent action. Meanwhile, Nasdaq futures (-0.6%) display larger losses due to early weakness in social media names after Yelp (YELP 42.08, -9.20) reported disappointing results and lowered its guidance. In addition, the largest index component-Apple (AAPL 127.88, -0.76)-has surrendered 0.6% in pre-market action after the Wall Street Journal reported that some watch components provided by AAC Technologies (AACAY 56.10, 0.00) may be defective.

On the economic front, Initial Claims dropped to 262,000 from 296,000 (Briefing.com consensus 290,000), which was the lowest level since April 2000. Meanwhile, the Q1 Employment Cost Index (0.7%; Briefing.com consensus 0.6%) beat expectations while March Personal Income (0.0%; consensus 0.2%) missed expectations, representing the weakest reading since December 2003.

Treasuries hover near their lows with the 10-yr yield higher by five basis points at 2.09%.

9:11 am St. Jude Medical announces FDA approval of its Protg MRI spinal cord stimulation system (STJ) : In addition to the approval of the new Protg MRI system, St. Jude Medical has also secured FDA approval for MRI compatibility of the company's 60cm Octrode percutaneous leads, which has received MR-conditional labeling for use with the Protg MRI system. In addition to the approval of the Protg MRI system, St. Jude Medical also plans to seek updated labeling in key markets around the world for several existing products, including their flagship Penta paddle lead, in order to allow more patients the ability to safely undergo MRI scans. St. Jude Medical also plans to submit testing data supporting full-body MRI conditional scan labeling for future SCS systems.

9:05 am TravelCenters of America: RDG Capital announces a constructive dialogue with the company regarding the potential monetization of company-owned real estate (TA) : RDG announced that the TCA Board has indicated a willingness to consider the potential monetization of company-owned real estate as a source of liquidity. In addition, RDG has held discussions with a leading national real estate firm which has completed more than $12.5 billion in real estate transactions and has expressed interest in TA's properties.

• According to its independent assessment, this leading real estate firm estimates the property value of TA's company-owned travel center sites alone to be worth in excess of $400 million. As a result, RDG is confident TA can unlock significant shareholder value by conducting sale leaseback transactions to realize $475 million in real estate value. 
• By conducting real estate sale leaseback transactions, RDG believes TA can reduce the significant gap between the Company's current share price and its fair market value, which RDG estimates to be $24 - $27 per share.
  

9:05 am Smith & Nephew announces that a new study published today in Advances in Wound Care has found that diabetic foot ulcers treated with OASIS Ultra Tri-Layer Matrix resulted in superior wound closure compared to standard of care treatments (SNN) : The randomized, controlled and open-label multicenter study enrolled 82 patients with type 1 or type 2 diabetes and compared wound management over 12 weeks plus an additional four-week follow up with OASIS Ultra Tri-Layer Matrix to standard of care methods for wound care, as selected by the study investigator, including silver dressings, hydrogel, wet-to-dry wound dressings and triple antibiotic dressings. It is the first randomized, controlled and open-label study to evaluate OASIS Ultra Tri-Layer Matrix in the study population. 

• The study's primary endpoint found a significantly greater proportion of ulcers closed at the end of the 12-week treatment period versus the control group (54 percent versus 32 percent, P=0.021).
  
• The study's secondary endpoints were time to ulcer closure and percent change in ulcer area from baseline. As early as one week following randomization, there was a significant difference in the percent reduction in ulcer area (size) for the wounds managed with OASIS Ultra Tri-Layer Matrix (all P values
• The product was found to be safe; reported adverse events were not related to study treatment and were those common to the population being studied. Adverse events were evenly distributed in both treatment and control groups.
  

9:04 am Valley National misses by $0.01 (VLY) : Reports Q1 (Mar) earnings of $0.13 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.14.

9:04 am Nielsen and Roku form strategic agreement to measure video advertising delivered to Roku (NLSN) : .As a first step, Nielsen and Roku will enable OTT measurement through Nielsen Digital Ad Ratings.

9:03 am Tree.com beats by $0.17, beats on revs; guides Q2 revs above consensus; raises FY15 guidance (TREE) : Reports Q1 (Mar) earnings of $0.65 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of $0.48; revenues rose 15.9% year/year to $50.9 mln vs the $47.54 mln consensus.

Co issues upside guidance for Q2, sees Q2 revs of $51-53 mln vs. $49.52 mln Capital IQ Consensus; EBITDA $7-7.5 mln.

Co issues upside guidance for FY15, raises FY15 revs to $202-208 mln from $192.5-200.8 mln vs. $196.94 mln Capital IQ Consensus; EBITDA $30-31 mln from $27-29 mln.

9:03 am Inovio Pharma priced its underwritten public offering of 9.5 mln shares of common stock for a public offering price of $8.00 per share (INO) :  

9:03 am BofI Holding beats by $0.07 (BOFI) :

• Reports Q1 (Mar) earnings of $1.35 per share, $0.07 better than the Capital IQ Consensus Estimate of $1.28. 
  
• "Strong loan growth, continued efficiency improvements and a stable net interest margin resulted in another quarter of record earnings. Our deposit growth outpaced loan growth for a second consecutive quarter, with checking and savings account balances increasing by approximately 80% year-over-year and business banking deposits increasing to over half of our deposit base. This quarter marked our thirteenth consecutive quarter of record earnings. Looking forward, we believe our prospects for continued earnings growth are strong based on our near record loan pipeline, our opportunities to expand our business and consumer deposit base and our continued diversification and expansion of our lending and fee income businesses. Additionally, our announced transaction with H&R Block, that is pending regulatory approval, is expected to provide significant additional fee income, low cost deposits, and product distribution opportunities." 
  

9:02 am Greatbatch announces proposed tax-free spin-off of Algostim subsidiary (GB) : The spin-off would create a new publicly traded company focused on commercializing the Algovita Spinal Cord Stimulation system to treat chronic intractable pain of the trunk and/or limbs, with Greatbatch continuing to focus on expanding its core business and providing complete medical device systems for its customers. The spin-off is expected to be completed by the end of 2015, but remains subject to final approval of the Greatbatch Board of Directors, confirmation of the tax-free nature of the transaction, and the effectiveness of a Form 10 registration statement to be filed with the U.S. Securities and Exchange Commission, among other conditions. 

9:02 am Lakeland Industries announces its decision to exit from Brazil, expecting a $9.5 mln tax benefit and delays in reporting From 10-K for FY15 (LAKE) :

• As part of its exit strategy, the Board of Directors, after extensively considering a number of options and the advice of its Brazilian legal counsel, approved a sale of the Brazilian operations, which have been unprofitable for the last several years, to a current officer of its Brazilian subsidiary, subject to negotiation and entry into a definitive agreement. The sale would involve the assumption of a substantial amount of liabilities by the buyer and additional funding from the Company. 
• Further enhancements will be realized from a worthless stock deduction for Brazil that the Company will claim which it anticipates will generate a benefit for USA taxes of approximately US $9.5 million net of a US $3.1 million valuation allowance.
• During the course of its operations in Brazil, the Company's Brazilian subsidiary has been named in numerous labor proceedings in Brazilian courts in which plaintiffs are seeking a total of nearly US $8,000,000 in damages from the Brazilian subsidiary. 

9:01 am Medtronic initiates study evaluating potential of combination of pulmonary vein isolation and renal denervation for atrial fibrillation (MDT) : The co announced the start ofa clinical study using its technologies to determine whether paroxysmaland persistent atrial fibrillation can be treated with a combination oftwo ablation procedures targeting different anatomical locations - specifically,the pulmonary veins and the renal arteries.

9:01 am Abbott Labs receives FDA clearance for its I-STAT total -hcg test (ABT) :  

9:01 am MGM Resorts: Land and Buildings shareholder group announces the availability of a new investor presentation 'highlighting the urgent need for change at MGM Resorts' (MGM) :  

8:58 am S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -18.30. (:WRAPX) : The S&P 500 futures trade six points below fair value.

Major markets in Asia all declined on Thursday in a profit-taking sweep that followed Wall Street's weak showing on Wednesday and amid concerns about overheated conditions. Japan (-2.7%) led the selling, suffering its biggest loss in four months. On a related note, the Bank of Japan left its key lending rate unchanged at 0.10% as expected.

• In economic data: 
  • Japan's March Industrial Production -0.3% month-over-month (expected -2.3%; prior -3.1%); March Housing Starts +0.7% year-over-year (expected -1.9%; prior -3.1%); March Construction Orders +10.8% year-over-year (prior +1.0%) 
  • South Korea's March Industrial Production -0.4% month-over-month (expected +0.3%; prior +2.3%); -0.1% year-over-year (expected -1.8%; prior -5.0%); March Retail Sales -0.6% month-over-month (expected +1.1%; prior +2.6%); March Service Sector Output -0.4% month-over-month (prior +1.6%) 
  • Australia's March Private Sector Credit +0.5% month-over-month (expected +0.5%; prior +0.5%); Q1 Import Price Index -0.2% quarter-over-quarter (expected +1.1%; prior +0.9%); Q1 Export Price Index -0.8% quarter-over-quarter (expected -0.8%; prior 0.0%) 
  • Singapore's Q2 Business Expectations rose to 5.00 from -3.00 

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• Japan's Nikkei declined 2.7%, suffering its largest loss in four months with disappointing earnings overshadowing some better-than-expected data for industrial production and housing starts. Separately, the Bank of Japan held its key lending rate steady at 0.10% as expected. Every sector was lower, paced by weakness in the communications (-3.6%), industrial (-2.8%), basic materials (-2.6%), and consumer cyclical (-2.6%) sectors. Ricoh (-9.0%), Sumitomo Heavy Industries (-7.6%), Shin-Etsu Chemical (-7.0%), and Honda Motor (-6.7%) were the worst-performing issues. Out of the 225 index members, 20 ended higher, 203 finished lower, and 2 were unchanged. 
• Hong Kong's Hang Seng declined 0.9%. Every sector finished lower with the exception of the market's most influential sector: the financial sector (+0.5%). The communications (-2.5%) and consumer non-cyclical (-2.5%) sectors were the weakest links. China Unicom Hong Kong (-5.8%), China Mengniu Dairy (-4.6%) and BOC Hong Kong Holdings (-4.4%) topped the list of individual decliners while China Resources Land (+7.4%), China Overseas Land & Investment, and Link REIT (+2.7%) paced the winners. Out of the 50 index members, 16 ended higher, 33 finished lower, and 1 was unchanged. 
• China's Shanghai Composite declined 0.8%, succumbing to a wave of selling interest in the final hour that knocked it down from unchanged levels. The energy (-2.7%), basic materials (-1.7%), and financial (-1.3%) were the primary weak spots in the Chinese market. 

Major European indices hold gains with Germany's DAX (+0.7%) showing relative strength.

• Economic data was plentiful: 
  • Eurozone April CPI 0.0% year-over-year (expected -0.1%; prior -0.1%); core CPI +0.6% year-over-year, as expected. Separately, the Unemployment Rate held at 11.3% (expected 11.2%) 
  • Germany's March Retail Sales -2.3% month-over-month (consensus 0.4%; last -0.1%); +3.5% year-over-year (expected 3.2%; last 3.3%). Separately, April Unemployment Change -8,000 (expected -13,000; prior -14,000) 
  • French March Consumer Spending -0.6% month-over-month (expected -0.3%; last 0.2%) 
  • Italy's April CPI +0.3% month-over-month (consensus 0.2%; prior 0.1%); 0.0% year-over-year (expected -0.1%; last -0.1%). Separately, Monthly Unemployment Rate rose to 13.0% from 12.7% (consensus 12.6%) 
  • Spain's Q1 GDP rose 0.9% quarter-over-quarter (consensus 0.8%; last 0.7%); 2.6% year-over-year (expected 2.5%; prior 2.0%). February Current Account deficit widened to EUR2.03 billion from EUR400 million while April CPI -0.6% year-over-year (expected -0.7%; prior -0.7%) 

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• UK's FTSE is higher by 0.2% with consumer and energy names in the lead. Associated British Foods, Tesco, and Royal Dutch Shell are up between 1.3% and 4.9% with Shell rallying after reporting better than expected results. On the flip side, Centrica and ITV are both down near 4.0% with the stocks going ex-dividend. 
• In France, the CAC trades up 0.3% with Lafarge in the lead. The stock has gained 3.4% following better than expected results. Meanwhile, financials lag with BNP Paribas and Societe Generale down 2.5% and 1.1%, respectively. 
• Germany's DAX has gained 0.7% with Fresenius SE jumping 5.2% in reaction to better than expected results. Financials display strength with Commerzbank and Deutsche Bank trading higher by 1.1% and 0.7%, respectively.

8:57 am Phillips 66 Partners beats by $0.01, beats on revs (PSXP) : Reports Q1 (Mar) earnings of $0.39 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.38; revenues rose 94.7% year/year to $70.1 mln vs the $69.12 mln consensus.

8:55 am Libbey --CORRECTION-- Co reported EPS of $0.16, in line with Capital IQ consensus; Earlier we reported $0.14 but that included a $0.02 charge; We have removed the prior 8:01 comment (LBY) : Reports Q1 (Mar) earnings of $0.16 per share, ex items, in line with the Capital IQ Consensus Estimate of $0.16; revenues rose 3.2% year/year to $187.4 mln vs the $188.24 mln consensus.

The Company reiterates expectations to generate sales growth of approximately 5 to 6 percent on a constant currency basis, and Adjusted EBITDA margins of approximately 15 percent in fiscal year 2015, as the Company executes its growth strategy while investing in its commercial brands and capabilities.

8:54 am Superior Ind: Egan-Jones has recommended to its clients that Superior shareholders vote the WHITE proxy card FOR ALL seven of Superior's director nominees (SUP) :  

8:53 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: YELP -18%, GNC -10%, GNRC -8%, PCRX -7.2%, MVIS -5.4%, TKR -5.2%, HBIO -5.1%, FORM -5%, CAMT -4.9%, DXCM -4.2%, FLEX -3.8%, BIDU -3.6%, KEX -3.5%, CRR -3.3%, SFLY -3.2%, NGD -2.9%, EPD -2.9%, HEES -2.8%, CAVM -2.7%, POT -2.6%, LPLA -2.6%, TEX -2.5%, DYAX -2.4%, USLM -2.2%, UFS -2.1%, LXRX -1.9%, (announces one for seven reverse stock split effective May 20, 2015), BLKB -1.9%, CBT -1.9%, CL -1.9%, CELG -1.9%, LNC -1.7%, XL -1.6%, AVP -1.4%, ROG -1.3%, KEG -1.3%, ORN -1.3%, ASH -1.2%, MUR -1.2%, POWI -1%, VRTX -0.8%, SU -0.8%, SCG -0.8%

M&A news: FLEX -3.8% (to acquire Mirror Controls International from private equity firm Egeria )

Other news: INO -10.7% (announces a public offering of common stock), ALU -6% (in reaction to NOK earnings), ADXS -4% ( proposed public offering of common stock), STNG -4% ( announces public offering of 15 mln common shares ), NBG -3.6% (cont uncertainty in Greece), RIO -2.1% (in symp with VALE), TRN -1.1% (disclosed it received a subpoena April 28 from the DoJ; is also aware that multiple law firms have recently filed purported class action lawsuits ), AAPL -0.5% (reports of Apple Watch issues)

Analyst comments: AGIO -3.1% (downgraded to Hold from Buy at Canaccord Genuity ), PAG -1.3% (downgraded to Sell from Neutral at Goldman)

8:51 am DuPont: Glass, Lewis & Co has recommended that DuPont stockholders vote the GOLD proxy card FOR Trian nominee Nelson Peltz at DuPont's Annual Meeting (DD) :  

8:51 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: AAC +14.7%, INUV +12.7%, AAWW +9.9%, GTI +9.7%, HDSN +9.6%, FOE +8%, ARII +7.7%, HOS +6.8%, CVEO +6.6%, EQIX +5%, AR +4.9%, RRTS +4.5%, LOCK +3.8%, NCIT +3.5%, ABC +3.4%, SEE +3.1%, PPC +3%, NXPI +2.7%, AFFX +2.6%, ATW +2.5%, O +2.4%, RDWR +2.3%, SHPG +2.3%, HUN +2.2%, ROK +2.2%, QUIK +2%, EROC +2%, NE +1.8%, (light volume), ATTU +1.4%, TEVA +1.3%, DLPH +1.3%, SPRT +1.2%, CSII +0.9%, TWC +0.9%, ARRS +0.8%, ARRS +0.8%, PWE +0.8%

M&A news: WX +16.5% (announces receipt of proposal to acquire all outstanding shares for $46/ADS share in cash),CNSI +10% ( to divest BSS Business to Amdocs (DOX) for total purchase price of $272 mln),GTI +9.9% (Board approved agreement for sale of $150 mln of 7% convertible preferred shares to Brookfield Asset Management (BAM); co entered into a separate letter of intent for a possible tender offer by BAM to acquire GTI shares at $5.05 per share; co also reported earnings), OVTI +5.7% (near deal to be acquired by Hua Capital for ~$29 per share, or $1.68 bln, according to reports ),

Other news: GLUU +24.4% (announced that Tencent (TCEHY) has agreed to purchase 21 million shares of Glu's common stock at a price of $6.00 per share for total consideration of $126 mln; announced partnership with Britney Spears; co also reported earnings),FOE +8% (to acquire global inorganic pigments manufacturer Nubiola; co also reported earnings),SDRL +5.2% (in symp with STO),ESI +3.3% (announces Chief Financial Officer transition and enrollment results),AKAO +2.6% (reaches settlement of its claim with the Defense Threat Reduction Agency),FRPT +2.4% (prices 5,313,351 shares of common stock held by certain stockholders at $21.47 per share)

Analyst comments: SPLS +1.9% (upgraded to Buy from Hold at Jefferies),JBLU +1.7% (upgraded to Outperform from Neutral at Credit Suisse),BWLD +1.7% (upgraded to Outperform from Neutral at Robert W. Baird),ODP +1.6% (upgraded to Buy from Hold at Jefferies ),MDLZ +0.5% (upgraded to Buy from Hold at Deutsche Bank),CCJ +0.5% (upgraded to Outperform from Mkt Perform at Raymond James)

8:49 am Comverse announces appointment of Jacky Wu to CFO, effective immediately (CNSI) : Wu will be replacing Thomas Sabol, who will remain a consultant with the company through July 1, 2015 to help support a smooth transition. Wu joined Comverse after spending five years at American Tower Corporation, most recently as VP of Finance and M&A

8:48 am Tempur Sealy Int'l sends letter to shareholders, 'strong first quarter 2015 results demonstrate Tempur Sealy's strategy is working & producing results'; urges shareholders to vote for the White proxy card (TPX) :  

8:40 am European Markets Update: FTSE +0.2%, CAC +0.4%, DAX +0.9% (:SUMRX) : Major European indices hold gains with Germany's DAX (+1.0%) showing relative strength.

• Economic data was plentiful: 
• Eurozone April CPI 0.0% year-over-year (expected -0.1%; prior -0.1%); core CPI +0.6% year-over-year, as expected. Separately, the Unemployment Rate held at 11.3% (expected 11.2%) 
• Germany's March Retail Sales -2.3% month-over-month (consensus 0.4%; last -0.1%); +3.5% year-over-year (expected 3.2%; last 3.3%). Separately, April Unemployment Change -8,000 (expected -13,000; prior -14,000) 
• French March Consumer Spending -0.6% month-over-month (expected -0.3%; last 0.2%) 
• Italy's April CPI +0.3% month-over-month (consensus 0.2%; prior 0.1%); 0.0% year-over-year (expected -0.1%; last -0.1%). Separately, Monthly Unemployment Rate rose to 13.0% from 12.7% (consensus 12.6%) 
• Spain's Q1 GDP rose 0.9% quarter-over-quarter (consensus 0.8%; last 0.7%); 2.6% year-over-year (expected 2.5%; prior 2.0%). February Current Account deficit widened to EUR2.03 billion from EUR400 million while April CPI -0.6% year-over-year (expected -0.7%; prior -0.7%) 

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• UK's FTSE is higher by 0.2% with consumer and energy names in the lead. Associated British Foods, Tesco, and Royal Dutch Shell are up between 1.3% and 4.9% with Shell rallying after reporting better than expected results. On the flip side, Centrica and ITV are both down near 4.0% with the stocks going ex-dividend. 
• In France, the CAC trades up 0.4% with Lafarge in the lead. The stock has gained 3.4% following better than expected results. Meanwhile, financials lag with BNP Paribas and Societe Generale down 2.5% and 1.1%, respectively. 
• Germany's DAX has gained 0.9% with Fresenius SE jumping 5.2% in reaction to better than expected results. Financials display strength with Commerzbank and Deutsche Bank trading higher by 1.1% and 0.7%, respectively.
  

8:39 am OncoGenex Pharma announces a $16 mln share purchase agreement with Lincoln Park Capital Fund (OGXI) : Co announced that it has entered into a share purchase agreement with Lincoln Park Capital Fund, LLC pursuant to which OncoGenex may sell up to $16,000,000 of shares of common stock over the 24 month term of the Purchase Agreement.

• The agreement includes an initial purchase of 956,938 Series A-1 units, with each Series A-1 unit consisting of one share of common stock and a Series A-1 warrant to purchase one-quarter of one share of common stock, representing aggregate gross proceeds of $2,000,000. 
• Following completion of the purchase of the Series A-1 units, OncoGenex has the right, at its sole discretion, to sell up to an additional $16,000,000 worth of shares to Lincoln Park. 
• Co intends to use the net proceeds it receives from this offering to advance its proprietary product candidates custirsen and apatorsen as well as for general corporate purposes
  

8:37 am Holcim Q1 net income increased significantly by 111.8% to CHF 378 mln, reported net sales were down 2.8% to CHF 3,972 mln (HCMLY) :

• Sales were down as increases in North America could not compensate for lower sales in other Group regions.
• Net income rose 111.8% mainly as a result of the divestment of Holcim's minority shareholding in Siam City Cement. Net income attributable to shareholders of Holcim Ltd was also up markedly by 289.3 percent to CHF 310 million.
• Margins improve in India although cement volumes were temporarily affected by lower demand
• Rebound in the United States continues
• Different weather pattern in Europe with stronger winter than in last year's quarter
• Group well positioned and prepared for merger with Lafarge

8:36 am Standard Motor misses by $0.18, misses on revs (SMP) : Reports Q1 (Mar) earnings of $0.40 per share, excluding non-recurring items, $0.18 worse than the Capital IQ Consensus Estimate of $0.58; revenues fell 2.2% year/year to $227.6 mln vs the $243.62 mln consensus.

• "Our results were negatively impacted by foreign exchange movements, plus several other relatively short term events. While obviously not pleased with the first quarter results, we remain confident for the balance of the year.
  

8:34 am ITC Holdings misses by $0.02, misses on revs; reaffirms FY15 EPS guidance (ITC) : Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.49; revenues rose 5.4% year/year to $272.5 mln vs the $283.07 mln consensus.

• Capital investments of $168.7 mln for the three months ended March 31, 2015
  

Co reaffirms guidance for FY15, sees EPS of $2.00-2.15, excluding non-recurring items, vs. $2.07 Capital IQ Consensus Estimate.

• ITC is also reaffirming its 2015 capital guidance range of $71-$810 mln, which includes $170-$200 mln for ITCTransmission, $150-$170 mln for METC, $380-$405 mln for ITC Midwest, $10-$25 mln for ITC Great Plains and up to $10 mln of Development.
  

8:34 am CVR Partners beats by $0.09, beats on revs (UAN) : Reports Q1 (Mar) earnings of $0.41 per share, $0.09 better than the Capital IQ Consensus Estimate of $0.32; revenues rose 15.9% year/year to $93.1 mln vs the $82 mln consensus.

• "We expect that our average gate prices for UAN for the first six months of 2015 will be similar to prices from the first six months of 2014."
  

8:33 am Virgin America beats by $0.10, reports revs in-line (VA) : Reports Q1 (Mar) earnings of $0.24 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 4.1% year/year to $326.4 mln vs the $323.28 mln consensus. 

• Passenger revenue per available seat mile increased 2.6 percent compared to the first quarter 2014, to 10.27 cents. 
• Q2 Guidance: The Company expects capacity, as measured by available seat miles, to decrease by approximately 0.0 percent to 1.0 percent for the second quarter of 2015 as compared to the second quarter of 2014. Based on current revenue trends, the Company expects PRASM to decrease between 0.0 percent and 2.0 percent versus the second quarter of 2014.
  

8:33 am Dollar pops a little higher following econ data, causing gold and silver futures to drop lower (gold dropped about $6 to near $1200). June gold is now -0.7% at $1202.00/oz, while July silver is -0.6% at $16.61/oz (:COMDX) :  

8:33 am Audience reports EPS in-line, beats on revs (ADNC) : Reports Q1 (Mar) loss of $0.46 per share, in-line with the Capital IQ Consensus Estimate of ($0.46); revenues fell 48.9% year/year to $18.4 mln vs the $18.08 mln consensus.

• On April 30, 2015, Knowles Corporation (KN), and ADNC issued a release announcing that Knowles, Orange Subsidiary, Inc. and ADNC entered into an agreement and plan of merger today, pursuant to which each outstanding share of ADNC will receive $5.00 in total consideration, consisting of $2.50 in cash and $2.50 in KN stock, subject to a collar as described more completely in the announcement press release. 
  

8:33 am S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -20.20. (:WRAPX) : The S&P 500 futures trade six points below fair value.  

The latest weekly initial jobless claims count totaled 262,000 while the Briefing.com consensus expected a reading of 290,000. Today's tally was below the revised prior week count of 296,000 (from 295,000). As for continuing claims, they fell to 2.253 million from 2.327 million.

Separately, March personal income was flat while the Briefing.com consensus expected an uptick of 0.2%. Meanwhile, personal spending increased 0.4% while the consensus expected an increase of 0.5%.

Core PCE prices rose 0.1% while the Briefing.com consensus expected a reading of 0.2%.

Also of note, the Q1 Employment Cost Index rose 0.7% while the Briefing.com consensus expected an increase of 0.6%.

8:33 am World Wrestling beats by $0.12, beats on revs (WWE) : Reports Q1 (Mar) earnings of $0.13 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.01; revenues rose 40.3% year/year to $176.2 mln vs the $169.6 mln consensus.

• "Our strong earnings growth was driven primarily by the escalation of our television rights fees and the expansion of WWE Network subscribers. For the quarter, our OIBDA surpassed our public guidance...WWE Network subscribers watched an estimated average of 53 hours of content per household over the quarter putting it among Netflix and the top cable and broadcast networks in terms of viewers per household. Additionally, WrestleMania 31 was viewed in more homes globally than ever before."
  

8:32 am RiceBran Tech subsidiary Irgovel announces entrance into an agreement with Cooperativa Agroindustrial de Alegrete in Brazil (RIBT) : Co announced that its Brazilian subsidiary Irgovel has entered into an agreement with Cooperativa Agroindustrial de Alegrete Ltda, a Brazilian rice growing and milling cooperative, to install RBT's proprietary extruders in CAAL's rice milling facility in exchange for exclusive rights to purchase and stabilize rice bran produced as a by-product of CAAL's rice milling business.

• As part of the agreement, Irgovel will install two of RBT's proprietary extruders in CAAL's Alegrete rice mill. In return, CAAL will construct a building for the processing of raw rice bran and storage of the stabilized rice bran. 
• Irgovel will have a right of first refusal to purchase all raw rice bran from CAAL. 
• The construction of the facility and the installation of equipment is expected to be completed within the next 180 days.
  

8:32 am New York Times beats by $0.03, reports revs in-line (NYT) : Reports Q1 (Mar) earnings of $0.11 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.08; revenues fell 1.6% year/year to $384.2 mln vs the $384.15 mln consensus. 

• Total circulation revenues in the second quarter of 2015 are expected to increase at a rate similar to that of the first quarter of 2015. 
• Total advertising revenues in the second quarter of 2015 are expected to decrease in the mid-single digits compared with the second quarter of 2014. 
• Operating costs and adjusted operating costs are each expected to decrease in the low-single digits in the second quarter of 2015 compared with the second quarter of 2014.
  

8:32 am Furmanite: Mustang Capital shareholder group 'calls on stockholders to elect a totally new board' ahead of annual meeting, and urges shareholders to vote for the Gold proxy card (FRM) :  

8:32 am Enzymotec announces positive reported results from a clinical trial comparing Vayarol to Ethyl Esters of Omega-3, for the management of moderate levels of triglycerides (ENZY) : Co stated: "The study met its primary endpoint as both Vayaroland EE reduced triglycerides levels with a similar efficacy that was within the pre-defined range of the comparable margin. With a similar triglyceride reduction profile, Vayarol actually proves more advantageous with half the Omega 3 concentration of EE.

• Vayarol also exhibited statistical significant superiority over EE with respect to other lipid parameters, such as LDL cholesterol. Specifically, EE significantly increased LDL-C while a decrease was observed with Vayarol. 
• As demonstrated in past studies, the composition of Vayarol was well tolerated. There were no serious adverse events nor an increase in side effects reported from either arm of the trial."
  

8:31 am Market View: Jun. stock-index futures continue to trade below fair values here following the 8:30 am ET economic data points (:TECHX) :

• ESm5 now @ 2095.00 -4.00
  
  
• YMm5 now @ 17919 -35
  
  
• NQm5 now @ 4460.00 -19.75

8:28 am Enterprise Products beats by $0.01, misses on revs (EPD) : Reports Q1 (Mar) earnings of $0.34 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.33; revenues fell 42.1% year/year to $7.47 bln vs the $12.29 bln consensus.

• Net income for the first quarter of 2015 was $651 million compared to $807 million for the first quarter of 2014. 
• "Total debt principal outstanding at March 31, 2015 was $21.6 billion, including $1.5 billion of junior subordinated notes to which the nationally recognized debt rating agencies ascribe partial equity content. At March 31, 2015, Enterprise had consolidated liquidity of $3.7 billion, which was comprised of unrestricted cash on hand and available borrowing capacity under our $3.5 billion multi-year revolving credit facility and $1.5 billion 364-day credit facility."

8:28 am Fujitsu Limited reports a record high profit in 2014 of 140 bln yet (US$1.167 bln), up 40%; Consolidated revenue was 4,753.2 billion yen (~US$39.61 bln), down 0.2% (FJTSY) :

• Revenue fell short of the previous projection by 46.7 billion yen, primarily because of lower-than-anticipated revenue from network products and other hardware products in Japan.
• Operating profit fell short of the projection by 6.3 billion yen. In addition to the impact of lower revenue, the shortfall primarily was the result of higher costs for the PC business in Europe resulting from the value of the euro declining against the US dollar.
• Profit for the year attributable to owners of the parent exceeded the previous projection by 8.0 billion yen, primarily because of a lower-than-anticipated income tax burden.

8:26 am Iridium Communications misses by $0.01, misses on revs; reaffirms 2015 outlook (IRDM) :

• Reports Q1 (Mar) earnings of $0.17 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.18; revenues fell 1.0% year/year to $97 mln vs the $101.08 mln consensus. 
  
• Company reaffirmed its full-year 2015 outlook: sees Total service revenue growth between 3-6%, and sees OEBITDA between $230-240 million.
  

8:25 am Fresenius Medical beats by $0.01, beats on revs; confirms FY15 revs guidance, in-line (FMS) : Reports Q1 (Mar) earnings of $0.69 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.68; revenues rose 11.1% year/year to $3.96 bln vs the $3.89 bln consensus.

• Co confirms guidance for FY15, sees FY15 revs growth of +5-7%, which calculates to ~$16.6-16.9 bln vs. $16.78 bln Capital IQ Consensus Estimate.
• Net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA is expected to increase by 0-5% in 2015.
• For the 2016 projections we expect revenue to increase 9-12% and net income attributable to shareholders of Fresenius Medical Care AG & Co. KGaA to grow by 15-20%.
  

8:22 am Materion beats by $0.05, beats on revs; reaffirms FY15 EPS guidance (MTRN) :

• Reports Q1 (Mar) earnings of $0.41 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.36; revenues rose 12.0% year/year to $290 mln vs the $272.23 mln consensus. 
  
• Co reaffirms guidance for FY15, sees EPS of $1.80-2.00 vs. $1.94 Capital IQ Consensus Estimate. 
  
• "This marks the fourth consecutive quarter of meaningful year-over-year earnings and value-added sales growth. The strength across the majority of our key end markets, combined with our ability to penetrate new markets and applications with our differentiated products, more than offset the significant decline in oil and gas and adverse impacts of the weakening euro. I am encouraged with the value-added sales growth and expanded profit margin each of our three business groups recorded in the quarter, along with our new product sales comprising 11% of our net sales. We remain committed to strategies that achieve strong organic value-added sales growth and margin expansion."
  

8:22 am Martin Marietta misses by $0.05, reports revs in-line; raises aggregates product line pricing guidance (MLM) : Reports Q1 (Mar) earnings of $0.07 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.12; revenues rose 61.3% year/year to $691.4 mln vs the $693.7 mln consensus. 

• First-quarter results and outlook for the full year have led co to increase annual aggregates product line pricing guidance from an increase of 4% to 6% to an increase of 7% to 9% over 2014. 
• Sees FY15 net sales for the Cement segment to be between $475 million and $500 million, generating $120 million to $130 million of gross profit. 
• Sees FY 15 net sales for the Magnesia Specialties segment to be between $240 million and $250 million, generating $85 million to $90 million of gross profit.
  

8:19 am Pinnacle Foods reports EPS in-line, revs in-line; reaffirms FY15 EPS guidance (PF) : Reports Q1 (Mar) earnings of $0.39 per share, in-line with the Capital IQ Consensus Estimate of $0.39; revenues rose 3.3% year/year to $665.3 mln vs the $662.75 mln consensus.

• Excluding items affecting comparability, gross profit advanced 3.9% to $175.2 million and, as a percentage of net sales, gross profit expanded by 15 basis points to 26.3%.
  
  
• Guidance: Co reaffirms guidance for FY15, sees EPS of $1.86-$1.91 vs. $1.89 Capital IQ Consensus Estimate. Sees input cost inflation for the year in the range of 3.0% to 3.5%, with inflation in the first half of the year expected to be higher than in the second half. Productivity for the year is estimated in the range of 3.0% to 4.0% of cost of products sold, with savings expected to be greater in the second half of the year versus the first half. 
  

8:17 am Omnicell raises guidance following completion of Avantec acquisition (OMCL) : Co adjusts financial guidance for 2015 to include the expected results of Avantec Healthcare Limited following the acquisition.

• Revenue for 2015 was previously expected to be between $492-505 mln including the expected results from the previously announced MACH4 Pharma Systems acquisition, and is now expected to be between $495-510 mln. 
• Non-GAAP EPS were previously expected to be between $1.31-1.36 per share including the previously announced MACH4 acquisition, and are expected to remain between $1.31-1.36 per share. 
• Co previously expected 2015 product bookings to be between $398-416 mln including the expected results from the previously announced MACH4 acquisition, and now expects product bookings between $400-420 mln with the inclusion of Avantec.

8:16 am Harman misses by $0.05, misses on revs; guides FY15 EPS below consensus, revs below consensus (HAR) : Reports Q3 (Mar) earnings of $1.22 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $1.27; revenues rose 4.3% year/year to $1.46 bln vs the $1.48 bln consensus.

• Co issues downside guidance for FY15, sees EPS of $5.65 vs. $5.84 Capital IQ Consensus Estimate; sees FY15 revs of $6.0 bln vs. $6.05 bln Capital IQ Consensus Estimate.
• "This marks the eighth consecutive quarter of top and bottom line growth. We delivered another solid quarter of growth, particularly in our automotive businesses, despite unprecedented foreign exchange headwinds."

8:15 am European Yields (BONDX) : Selling Continues in OATs and Bunds

• Wednesday's dramatic repricing of core interest rates continued today, as the German 10-year Bund yield rose 3 basis points to to 0.32% and France's 10-year OAT yield traded its highest level since March 6th
• The Bund hit a low yield of 0.04% on April 17th
• Eurozone unemployment missed expectations, remaining stable at 11.3% in March 
• The eurozone drew a line under its 4-month bout of deflation as the CPI change for the bloc was 0.0% in April versus -0.1% in March. The market had expected deflation to continue
• Increases in food, alcohol, and tobacco offset declines in energy prices
• The number of unemployed Germans fell a seasonally-adjusted 8K in April, less than the 14K drop in March and worse than expectations
• GDP growth in Spain exceeded expectations, rising 0.9% in Q1 2015 versus 0.7% growth in the prior quarter
• Yield check:
• France, 10-yr OAT: +3 bps to 0.60%
• Germany, 10-yr Bund: +3 bps to 0.32%
• Greece, 10-yr note: -25 bps to 10.98%
• Italy, 10-yr BTP: -2 bps to 1.47%
• Portugal, 10-yr note: -4 bps to 2.07%
• Spain, 10-yr Bono: unch at 1.45%
• U.K., 10-yr Gilt: -3 bps to 1.83%

8:14 am Borg Warner misses by $0.06, misses on revs; lowers FY15 guidance on FX (BWA) : Reports Q1 (Mar) earnings of $0.78 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $0.84; revenues fell 4.8% year/year to $1.98 bln vs the $2.14 bln consensus with 11% FX headwind. 

Co issues downside guidance for FY15, lowers EPS to $3.10-3.30 from $3.35-3.55 vs. $3.43 Capital IQ Consensus; lowers FY15 revs to flat to down 4% ~$7.97-8.31 bln from +2-6% (+9.5-12% ex-FX reaffirmed) vs. $8.58 bln Capital IQ Consensus.

8:13 am IdaCorp misses by $0.11; reaffirms FY15 EPS guidance (IDA) : Reports Q1 (Mar) earnings of $0.47 per share, $0.11 worse than the Capital IQ Consensus Estimate of $0.58.

• "While our first quarter results were below last year, we are maintaining our FY15 earnings guidance range and expect no use of additional accumulated deferred investment tax credits. An unseasonably warm first quarter was largely responsible for a decrease in residential sales. This weather impact, combined with the timing of certain operating and maintenance expenses at generation facilities, resulted in decreased earnings quarter-over-quarter."

Co reaffirms guidance for FY15, sees EPS of $3.65-3.80 vs. $3.72 Capital IQ Consensus Estimate.

8:11 am Sequential Brands beats by $0.02, beats on revs; reaffirms FY15 revs guidance (SQBG) : Reports Q1 (Mar) earnings of $0.03 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.01; revenues rose 115.9% year/year to $13.6 mln vs the $11.49 mln consensus. Co reaffirms guidance for FY15, sees FY15 revs of $78-81 mln vs. $79.86 mln Capital IQ Consensus Estimate.

8:11 am Ryland Group beats by $0.02, beats on revs (RYL) : Reports Q1 (Mar) earnings of $0.47 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.45; revenues rose 5.7% year/year to $517.4 mln vs the $502.31 mln consensus. 

• The dollar value of the Company's backlog was $1.2 billion at March 31, 2015, an 11.5 percent increase from March 31, 2014. Backlog rose 6.0 percent to 3,543 units at March 31, 2015, from March 31, 2014.
  

8:10 am Phillips 66 beats by $0.09 (PSX) : Reports Q1 (Mar) earnings of $1.51 per share, $0.09 better than the Capital IQ Consensus Estimate of $1.42. Reports the highest realized refining margin in eight quarters at $12.26 per barrel.

• During the quarter, PSX generated $1.4 billion of cash from operations. Excluding $472 million of working capital changes, operating cash flow was $880 million.
  
  
• Company repaid $800 million of maturing senior notes.
  
  
• The company paid $272 million in dividends and repurchased 5.6 million shares of common stock for $399 million.
  

8:10 am Arrow Elec beats by $0.01, misses on revs; guides Q2 EPS in-line, revs in-line (ARW) :

• Reports Q1 (Mar) earnings of $1.32 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.31; revenues rose 3.4% year/year to $5.01 bln vs the $5.11 bln consensus. 
  
• Co issues in-line guidance for Q2, sees EPS of $1.43-1.55 vs. $1.48 Capital IQ Consensus Estimate; sees Q2 revs of $5.45-5.85 bln vs. $5.72 bln Capital IQ Consensus Estimate.
  

8:07 am Senomyx misses by $0.01, misses on revs; guides FY15 EPS in-line, revs in-line (SNMX) : Reports Q1 (Mar) loss of $0.11 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.10); revenues fell 39.0% year/year to $5 mln vs the $5.86 mln consensus.

• "Since our last quarterly earnings report, our partners PepsiCo and Firmenich have continued to execute their plans in support of their commercialization of our new flavor ingredient, SNMX S617. Based on recent feedback from these partners SNMX continues to expect that the first commercial sale of a product containing SNMX S617 will occur mid-year 2015, although the specific timing remains outside of our control."
• "Looking forward, commercial revenue growth will begin with Q2. Furthermore, we continue to expect that Sweetmyx S617 commercial revenue and the ramp up of direct sales will drive growth as we move through the year. With our current cash balance and sources of funding, SNMX remains well-positioned to achieve our goals and we do not have plans to raise money through the issuance of equity or debt to fund the current scope of our operations."
  

8:07 am Exxon Mobil beats by $0.34, beats on revs (XOM) : Reports Q1 (Mar) earnings of $1.17 per share, excluding non-recurring items, $0.34 better than the Capital IQ Consensus Estimate of $0.83; revenues fell 36.4% year/year to $67.62 bln vs the $63.68 bln consensus.

• During the quarter, ExxonMobil produced 4.2 mln oil-equivalent barrels per day, an increase of 97,000 barrels per day over the first quarter of 2014. Volumes were up 2.3%, benefiting from new developments in Papua New Guinea, Canada, Angola, Indonesia, and U.S. onshore liquids plays. Field decline and maintenance impacts were mostly offset by higher entitlement volumes 
  

 Upstream earnings were $2.9 bln in the first quarter of 2015, down $4.9 bln from the first quarter of 2014. Lower liquids and gas realizations decreased earnings by $5.5 bln. Higher volumes and mix effects increased earnings by $340 mln, reflecting growth from new developments. All other items, including favorable tax effects, increased earnings by $250 mln.

• The U.S. Upstream operations recorded a loss of $52 million, down $1.3 billion from the first quarter of 2014. Non-U.S. Upstream earnings were $2.9 billion, down $3.6 billion from the prior year.
  
• On an oil-equivalent basis, production increased 2.3 percent from the first quarter of 2014. Liquids production totaled 2.3 mln barrels per day, up 129,000 barrels per day, while natural gas production was 11.8 bln cubic feet per day, down 188 mln cubic feet per day from 2014. Project ramp-up and entitlement effects were partly offset by field decline and maintenance activities.
  

Downstream earnings were $1.7 bln, up $854 mln from the first quarter of 2014. Stronger margins increased earnings by $1 bln. Volume and mix effects increased earnings by $70 mln. All other items, primarily higher maintenance expense, decreased earnings by $260 mln. Petroleum product sales of 5.8 mln barrels per day were flat with the prior year's first quarter. Downstream earnings were $1.7 billion, up $854 million from the first quarter of 2014. Stronger margins increased earnings by $1 billion.

8:07 am Government Properties Income Trust beats by $0.01 (GOV) : Reports Q1 (Mar) funds from operations of $0.58 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.57; rental income rose 4.8% year/year to $62.7 mln vs the $64.27 mln consensus.

8:05 am Investment Tech beats by $0.02, misses on revs; announces initiation of dividend plan (ITG) : Reports Q1 (Mar) earnings of $0.47 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.45; revenues rose 8.8% year/year to $149.7 mln vs the $156.03 mln consensus. Average daily trading volume in the U.S. of 191 million shares versus 164 million shares in the first quarter of 2014. POSIT average daily U.S. volume was 93 million shares compared to 70 million shares in the first quarter of 2014. Total average daily volume traded through POSIT Alert was 17 million shares, consistent with the first quarter of 2014.

•  ITG's Board of Directors has initiated a dividend program under which the Company intends to pay quarterly cash dividends beginning in the second quarter of 2015, subject to quarterly declarations by the Board of Directors. For the second quarter of 2015, the Board of Directors declared a quarterly dividend of $0.07 per share.
  

8:05 am Abaxis announces retirement of CFO Alberto Ines, effective July 31, 2015; appoints Ross Taylor as successor CFO (ABAX) : Taylor joined Abaxis as vice president of business development and investor relations in October 2014

8:04 am WaferGen Bio-Systems announces signing a research collaboration with Genentech to evaluate and apply WaferGen's SmartChip platform in single cell sequencing (WGBS) : The joint work is aimed at validating the utility of the SmartChip technology for isolating single cells from various tissues and preparing libraries for Next-Generation Sequencing. Genentech represents WaferGen's initial partner in WaferGen's single cell genomics technology-focused Early Access Program. WaferGen continues to expect that the Company will launch its first commercial single cell analysis product by the end of 2015

8:04 am Goldcorp misses by $0.08, beats on revs; Reaffirms 2015 Outlook (GG) : Reports Q1 (Mar) earnings of $0.01 per share, excluding non-recurring items, $0.08 worse than the Capital IQ Consensus Estimate of $0.09; revenues rose 3.4% year/year to $1.27 bln vs the $0.97 bln consensus. 

2015 Outlook

• The Company today reconfirmed 2015 production guidance of between 3.3 and 3.6 million gold ounces at all-in sustaining costs of between $875 and $950 per gold ounce, driven primarily by new contributions from Cerro Negro and lonore. Gold production is expected to increase over the course of 2015 as mining continues into the higher-grade portions of the Peasco pit at Peasquito and as both Cerro Negro and lonore ramp-up through the year. Capital spending guidance remains unchanged at between $1.2 billion and $1.4 billion for 2015. Depreciation, depletion, and amortization expense is expected to be approximately $390 per gold ounce sold with DDA per ounce higher in the first quarter of 2015 at $444 per ounce but declining over the remainder of the year. Excluding the impacts of foreign exchange on deferred tax assets and liabilities, the Company now expects an annual effective tax rate of 45% in 2015 on adjusted net earnings, with an expected 39% effective tax rate for each of the second, third and fourth quarters.
  

8:04 am Cypress Semi reports Q1 results, misses on revs (CY) : Reports Q1 (Mar) loss of $0.45 per share, which includes a $107 mln adjustment for aged and excess inventory acquired through the merger with Spansion. This does not compare to the $0.07 CapIQ consensus. Revenues rose 22.8% year/year to $209.1 mln vs the $215.59 mln consensus.

• CY closed a $5 billion merger with Spansion Inc. on March 12, earlier than anticipated. Says $8.4 million in annualized synergies already realized.
  

8:04 am DineEquity beats by $0.04, beats on revs; reaffirms guidance (DIN) : Reports Q1 (Mar) earnings of $1.64 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $1.60; revenues rose 5.1% year/year to $175.8 mln vs the $173.88 mln consensus. 

• IHOP's domestic system-wide same restaurant sales increased 4.8%. 
• Applebee's domestic system-wide same-restaurant sales increased 2.9%.
  

Co reaffirms guidance: IHOP comps +2-5%; Applebee's comps +1-4%; franchise segment profit $345-358 mln.

8:03 am Titan Intl beats by $0.05, misses on revs (TWI) : Reports Q1 (Mar) earnings of $0.01 per share, $0.05 better than the Capital IQ Consensus Estimate of ($0.04); revenues fell 25.4% year/year to $402.1 mln vs the $466.17 mln consensus. Overall sales experienced reductions in volume of 10% and price/mix of 6% as the agriculture market remains in a cyclical downturn. Reduced farm incomes result in lower demand for new equipment, primarily high horsepower agricultural equipment. These decreases were partially offset by increased demand for products used in the construction industry. In addition, competitive pressures and lower raw material prices, particularly in tire manufacturing, negatively impacted sales. Unfavorable currency translation decreased sales by 9%.

8:03 am Aecom Tech: U.S. Department of Energy awards AECOM-CH2M Hill joint venture cleanup scope at Oak Ridge Reservation (ACM) : Co announced that an AECOM-led joint venture with CH2M Hill, commonly known as UCOR, has been authorized by the U.S. Department of Energy to perform optional work within the existing contract to continue cleanup of Tennessee's Oak Ridge Reservation. The options exercised are valued at $104 mln, against the current $2.5-bln value of UCOR's performance-based contract. Since beginning work in August 2011, UCOR's mission has been to remove environmental hazards and millions of square feet of legacy facilities from the former Oak Ridge Gaseous Diffusion Plant, now called East Tennessee Technology Park, and repurpose the land and buildings for use by new job-creating, commercial ventures. The joint venture is also responsible for cleanup work at other DOE Oak Ridge Reservation sites, surveillance and maintenance of select reservation facilities slated for demolition, and disposal of wastes.

8:02 am Harman announces new orders from global automakers in the first four months of calendar 2015 totaling $3.2 billion (HAR) : Co announced new orders from global automakers in the first four months of calendar 2015 totaling $3.2 bln. The secured business includes new global awards with top OEMs, including BMW Group for infotainment and audio solutions as well as Daimler AG and GAC Fiat for infotainment solutions.

8:02 am Dow Chemical: Boulevard Acquisition Corp announces agreement to acquires Agrofresh from Dow Chemical Company (DOW), for 18.4 million shares of Boulevard Common Stock and $626 million in cash (DOW) : Boulevard Acquisition Corp will acquire AgroFresh, Dow's post-harvest specialty chemical business, in a transaction that will result in AgroFresh becoming a publicly traded company with an anticipated initial enterprise value of $879 million, or 8.7x its estimated 2015 EBITDA.

• Under the terms of the definitive agreements for the transaction, at closing, Boulevard will purchase AgroFresh in exchange for 18.4 million shares of Boulevard Common Stock and $626 million in cash, for a total of $810 million assuming a valuation of the Boulevard shares at $10 per share. 
• Dow will initially hold approximately 40% of the shares of AgroFresh while the stockholders of Boulevard will initially hold approximately 60%. 
• The transaction has been unanimously approved by the Boards of Directors of Boulevard and Dow, and is expected to close in the third quarter of 2015
  

8:02 am Genomic Health announces that the journal, Urology Practice has published positive results from the first decision impact study of the Oncotype DX prostate cancer test (GHDX) : Results showed that use of the test substantially increased the number of men who can consider active surveillance, while increasing physician confidence in their treatment recommendations.

• The prospective study involving 158 newly diagnosed prostate cancer patients showed that incorporation of the Genomic Prostate Score  changed modality and/or intensity of treatment recommendations in 26 percent of patients across multiple urology practice settings. 
• The NCCN low risk group showed the greatest absolute recommendation change of 37 percent. The increase in recommendations for active surveillance was 24 percent.

8:01 am Clayton Williams misses by $0.39, misses on revs (CWEI) :

• Reports Q1 (Mar) loss of $1.71 per share, $0.39 worse than the Capital IQ Consensus Estimate of ($1.32); revenues fell 48.6% year/year to $64.1 mln vs the $67.05 mln consensus. 
  
• The on-going downturn in commodity prices had a significant impact on revenues for 1Q15, causing oil and gas sales, excluding amortized deferred revenues, to decrease $51.8 million compared to 1Q14.
  

8:01 am Microvision misses by $0.01 (MVIS) : Reports Q1 (Mar) loss of $0.09 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.08). As of March 31, 2015, backlog was $18.7 million and cash and cash equivalents were $16.7 million. The cash balance includes funds received during the quarter of approximately $2.3 million from the exercise of previously issued warrants and $1.0 million from the sale of stock through an At-the-Market (ATM.V) equity facility MicroVision established last June, which is now completed.

8:01 am OmniVision confirms it will be acquired by consortium for $29.75 per share, or ~$1.9 bln (shares halted) (OVTI) : The co announced that it has entered into a definitive agreement to be acquired by a consortium composed of Hua Capital Management Co., Ltd., CITIC Capital Holdings Limited, and GoldStone Investment Co., Ltd. Under the terms of the agreement, OmniVision stockholders will receive $29.75 per share in cash, or a total of approximately $1.9 billion. The agreement was unanimously approved by OmniVision's Board of Directors.

7:59 am S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -23.60. (:WRAPX) : U.S. equity futures trade modestly lower amid mixed action overseas. The S&P 500 futures hover six points below fair value.

Meanwhile, the Dollar Index (94.76, -0.44) is lower by 0.5%, and is now on track for its seventh consecutive decline.

Weekly Initial Claims (Briefing.com consensus 290K), Personal Income/Spending data for March, and Q1 Employment Cost Index (consensus 0.6%) will be released at 8:30 ET while the Chicago PMI report for April (expected 50.0) will cross the wires at 9:45 ET.

Treasuries are little changed with the 10-yr yield hovering just below its flat line at 2.04%.

In U.S. corporate news of note:

• Baidu (BIDU 211.11, -7.89): -3.6% despite beating bottom-line estimates. 
• Colgate-Palmolive (CL 67.50, -1.01): -1.5% in reaction to in-line results. 
• NXP Semiconductor (NXPI 92.30, -3.12): -3.3% despite beating earnings estimates. 
• Potash (POT 32.10, -0.99): -3.0% after missing earnings expectations and guiding Q2 earnings below consensus. 
• Royal Dutch Shell (RDS.A 64.02, +0.52): +0.8% after reporting earnings that may not compare to estimates. 
• Shire (SHPG 251.80, +6.54): +2.7% after beating revenue estimates. 
• Teva Pharmaceutical (TEVA 62.22, +0.14): +0.2% after beating earnings/revenue expectations. 
• Yelp (YELP 42.40, -8.88): -17.3% after missing estimates and guiding below consensus. 

Reviewing overnight developments:

• Asian markets ended lower. Japan's Nikkei -2.7%, Hong Kong's Hang Seng -0.9%, and China's Shanghai Composite -0.8% 
  • In economic data: 
    • Japan's March Industrial Production -0.3% month-over-month (expected -2.3%; prior -3.1%); March Housing Starts +0.7% year-over-year (expected -1.9%; prior -3.1%); March Construction Orders +10.8% year-over-year (prior +1.0%) 
    • South Korea's March Industrial Production -0.4% month-over-month (expected +0.3%; prior +2.3%); -0.1% year-over-year (expected -1.8%; prior -5.0%); March Retail Sales -0.6% month-over-month (expected +1.1%; prior +2.6%); March Service Sector Output -0.4% month-over-month (prior +1.6%) 
    • Australia's March Private Sector Credit +0.5% month-over-month (expected +0.5%; prior +0.5%); Q1 Import Price Index -0.2% quarter-over-quarter (expected +1.1%; prior +0.9%); Q1 Export Price Index -0.8% quarter-over-quarter (expected -0.8%; prior 0.0%) 
    • Singapore's Q2 Business Expectations rose to 5.00 from -3.00 
  • In news: 
    • The Bank of Japan made no changes to its policy and held its key rate at 0.1%, as expected 

• Major European indices trade near their flat lines. Germany's DAX +0.4%, France's CAC -0.1%, and UK's FTSE is flat. Elsewhere, Italy's MIB +0.4% and Spain's IBEX is flat 
  • Economic data was plentiful: 
    • Eurozone April CPI 0.0% year-over-year (expected -0.1%; prior -0.1%); core CPI +0.6% year-over-year, as expected. Separately, the Unemployment Rate held at 11.3% (expected 11.2%) 
    • Germany's March Retail Sales -2.3% month-over-month (consensus 0.4%; last -0.1%); +3.5% year-over-year (expected 3.2%; last 3.3%). Separately, April Unemployment Change -8,000 (expected -13,000; prior -14,000) 
    • French March Consumer Spending -0.6% month-over-month (expected -0.3%; last 0.2%) 
    • Italy's April CPI +0.3% month-over-month (consensus 0.2%; prior 0.1%); 0.0% year-over-year (expected -0.1%; last -0.1%). Separately, Monthly Unemployment Rate rose to 13.0% from 12.7% (consensus 12.6%) 
    • Spain's Q1 GDP rose 0.9% quarter-over-quarter (consensus 0.8%; last 0.7%); 2.6% year-over-year (expected 2.5%; prior 2.0%). February Current Account deficit widened to EUR2.03 billion from EUR400 million while April CPI -0.6% year-over-year (expected -0.7%; prior -0.7%) 
  • Among news of note: 
    • The European Central Bank released its Economic Bulletin, which indicated that longer-term expectations have recovered off the mid-January low

7:51 am Fresenius SE reports Q1 net income rose 28% to 292 euros, sales rose +24% to 6.5 billion euros; co raises guidance (FSNUY) :

• All four business segments contributed to the strong financial results, with Fresenius Kabi's performance in particular standing out
• Based on the Group's excellent financial results in the first quarter of 2015 and positive prospects for the remainder of the year, Fresenius raises its 2015 earnings guidance.
• For 2015, Fresenius now expects net income growth of 13-16% in constant currency. Previously, the company expected net income2 growth of 9-12% in constant currency.
• The company fully confirms its Group sales guidance. Sales are expected to increase by 7-10% in constant currency.
  

7:45 am AllianceBernstein misses by $0.02, misses on revs (AB) : Reports Q1 (Mar) earnings of $0.45 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.47; revenues rose 6.5% year/year to $633.99 mln vs the $764.92 mln consensus. 

• Total assets under management as of March 31, 2015 were $485.9 billion, up $11.9 billion, or 2.5%, from December 31, 2014, and up $31.8 billion, or 7.0%, from March 31, 2014.
  
• "We began 2015 with another quarter of meaningful progress in executing on our long-term strategy to deliver for clients with our investment performance, the global breadth of our offering and the strength of our financials," said Peter S. Kraus, Chairman and Chief Executive Officer. "With strong sales momentum across our business, coupled with strict expense discipline, we generated positive net flows in all three of our client channels -- $6 billion in total -- and expanded our adjusted operating margin by 190 basis points year-on-year, to 23.9%."
  

7:43 am DSP Group beats by $0.03, beats on revs (DSPG) : Reports Q1 (Mar) earnings of $0.09 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.06; revenues rose 16% year/year to $38.0 mln vs the $37.1 mln consensus.

7:41 am CDK Global beats by $0.02, misses on revs; lowers FY15 guidance on FX (CDK) : Reports Q3 (Mar) earnings of $0.35 per share, $0.02 better than the Capital IQ Consensus of $0.33; revenues rose 5.0% year/year to $526.4 mln vs the $532.2 mln consensus.

Co issues downside guidance for FY15, sees EPS of +14-15% to ~$1.39-1.40 vs. $1.41 Capital IQ Consensus; sees FY15 revs of +5% to ~$2.08 bln vs. $2.1 bln Capital IQ Consensus Estimate.

7:40 am Domtar misses by $0.03, misses on revs (UFS) : Reports Q1 (Mar) earnings of $0.75 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.78; revenues fell 3.3% year/year to $1.35 bln vs the $1.39 bln consensus.

• Paper shipments increased 2.3% when compared to the fourth quarter 2014.
  
  
• Outlook: "Domtar paper shipments are expected to trend with market demand but our paper shipments should benefit from lower import volumes in North America. The second quarter is expected to be affected by seasonally higher maintenance activity in our pulp business and most input costs should return to more normal levels for the remainder of the year. Personal Care results are expected to benefit from market growth, cost savings from the new manufacturing platform and favorable oil-based input costs."

7:39 am Invesco reports EPS in-line, revs in-line; raises dividend 8% to $0.27/share (IVZ) : Reports Q1 (Mar) earnings of $0.60 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.60; revenues rose 1.7% year/year to $1.29 bln vs the $1.29 bln consensus.

• "Invesco continues to provide strong, long-term investment performance to our clients, which contributed to long-term net inflows of $10.3 billion during the first quarter. By focusing on delivering excellent outcomes to our clients, we achieved strong flows across our institutional and retail channels, and the highest active flows in two years. Reflecting continued confidence in the fundamentals of our business, we are raising our dividend 8% to 27 cents per share."

7:39 am Coca-Cola Ent beats by $0.02, misses on revs (CCE) : Reports Q1 (Mar) earnings of $0.42 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.40; revenues fell 12.8% year/year to $1.63 bln vs the $1.66 bln consensus. For 2015, co reaffirms prior guidance, expects EPS to grow +6-8% on a comparable and currency-neutral basis. Based on recent rates, currency translation would negatively impact full-year 2015 earnings per share by just over 18%. Net sales and operating income are each expected to achieve slightly positive growth on a comparable and currency-neutral basis.

7:38 am SCANA Corp beats by $1.53, misses on revs; reaffirms FY15 EPS guidance (SCG) : Reports Q1 (Mar) earnings of $2.80 per share, $1.53 better than the Capital IQ Consensus Estimate of $1.27; revenues fell 12.6% year/year to $1.39 bln vs the $1.5 bln consensus. Co reaffirms guidance for FY15, sees EPS of $3.60-3.80, excluding non-recurring items, vs. $3.70 Capital IQ Consensus Estimate. The Company's targeted average annual growth rate for GAAP-adjusted weather-normalized earnings per share is 3 to 6 percent over the next 3 to 5 years.

7:36 am MSCI reports EPS in-line, revs in-line (MSCI) : Reports Q1 (Mar) earnings of $0.50 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.50; revenues rose 9.6% year/year to $262.76 mln vs the $260.34 mln consensus.

• Full-year 2015 Adjusted EBITDA Expenses are expected to be in the range of $620-640 mln.
  
• Full-year 2015 cash flow from operations is expected to be in the range of $275-325 million.
  

7:36 am NetScout Systems beats by $0.13, misses on revs; guides Q1 EPS midpoint below consensus, revs below consensus (NTCT) :

• Reports Q4 (Mar) earnings of $0.67 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus Estimate of $0.54; revenues rose 6.1% year/year to $119.4 mln vs the $124.33 mln consensus. 
• Co issues downside guidance for Q1, sees EPS of $0.25-0.38 vs. $0.37 Capital IQ Consensus Estimate; sees Q1 revs of $95-110 mln vs. $114.03 mln Capital IQ Consensus Estimate. 
  
• Co currently anticipates that its acquisition of Danaher's Communications Business will be completed in July.
  

7:36 am Acceleron Pharma and Celgene (CELG) plan to initiate a Phase 3 program with luspatercept in myelodysplastic syndromes and beta-thalassemia by year-end 2015 (XLRN) : The companies will continue to develop sotatercept for patients with chronic kidney disease. Preliminary data from the ongoing phase 2 clinical trial of luspatercept in patients with lower risk MDS will be presented by Uwe Platzbecker, M.D., University Hospital in Dresden, Germany, in the oral session "Best of Clinical Trials II" at the MDS Foundation 13th International Symposium on Myelodysplastic Syndromes on Saturday May 2, 2015, at 10:30 AM (:EDT) at the Washington Marriott Wardman Park Hotel in Washington, D.C.

7:36 am Intelsat misses by $0.03, reports revs in-line; guides FY15 revs in-line (I) : Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus Estimate of $0.50; revenues fell 4.2% year/year to $602.3 mln vs the $600.38 mln consensus. Co issues in-line guidance for FY15, sees FY15 revs of $2.33-2.38 bln vs. $2.35 bln Capital IQ Consensus Estimate. Expects adjusted EBITDA in the range of $1.81-1.86 bln.

7:36 am Zimmer Hldgs reports EPS in-line, misses on revs; lowers FY15 EPS on FX; raises synergy, lowers accrection guidance for Biomet merger (ZMH) : Reports Q1 (Mar) adj. earnings of $1.58 per share, in-line with the Capital IQ Consensus Estimate of $1.58; revenues fell 2.4% year/year to $1.13 bln vs the $1.15 bln consensus.

Co issues downside guidance for FY15, lowers EPS to $6.30-6.40, excluding non-recurring items, from $6.50-6.60 vs. $6.69 Capital IQ Consensus. 

• Changes in currency rates are also expected to negatively impact Biomet earnings, which the Company expects to be partially offset by greater synergies from the pending merger than had previously been contemplated in the Company's guidance. Net annual operating earnings synergies connected with the pending merger are now anticipated to reach $350 million by year three following the closing of the transaction. This compares to prior guidance of net annual synergies of $270 million by the third year post-closing. Consequently, the Company now expects accretion from the pending merger with Biomet to contribute between $0.95 and $1.05 to adjusted diluted earnings per share in the first 12 months following the closing of the transaction. This accretion guidance was previously a range of $1.05 to $1.15.
  

7:35 am Mobile Mini beats by $0.01, misses on revs (MINI) : Reports Q1 (Mar) earnings of $0.28 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.27; revenues rose 28.4% year/year to $131.5 mln vs the $136.48 mln consensus.

• Increased adjusted EBITDA to $47.5 million, from $32.7 million and expanded adjusted EBITDA margin to 36.2% from 31.9%, year-over-year. 
• Delivered solid free cash flow of $29.2 million, a 9.6% increase over the first quarter of 2014.
  

7:34 am Celgene beats by $0.01, misses on revs; guides FY15 EPS below consensus (CELG) : Reports Q1 (Mar) adj earnings of $1.07 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.06; revenues rose 20.2% year/year to $2.08 bln vs the $2.12 bln consensus.

• Co issues downside guidance for FY15, sees EPS of $4.60-4.75 vs. $4.77 Capital IQ Consensus Estimate. 
• REVLIMID sales for the first quarter increased 17 percent to $1,343 million which includes a negative net impact of foreign exchange of $22 million (1.9 percent). FY15 Guidance: Total net product sales are expected to be $9,000 million to $9,500 million REVLIMID net sales are expected to be in the range of $5,600 million to $5,700 million ABRAXANE net sales are expected to be in the range of $1,000 million to $1,250 million.

7:34 am GNC Holdings misses by $0.08, misses on revs; guides FY15 EPS below consensus (GNC) : Reports Q1 (Mar) earnings of $0.72 per share, $0.08 worse than the Capital IQ Consensus Estimate of $0.80; revenues fell 0.6% year/year to $670.2 mln vs the $695.86 mln consensus. Same store sales decreased 4.1% in domestic company-owned stores in the first quarter of 2015. In domestic franchise locations, same store sales decreased 1.5% in the first quarter of 2015.

• Co widens guidance for FY15, sees EPS of $3.00-3.15 vs. $3.15 Capital IQ Consensus Estimate. Sees a low single digit increase in consolidated revenue for the full year 2015. Domestic company-owned same store sales to range from a low-single digit decline to flat for the second quarter of 2015, and for a low-single digit increase for the remainder of 2015.
• "While we are disappointed in the decline of our domestic same store sales, we have identified appropriate sales recapture initiatives to address and reverse this trend. Additionally, our continued efforts to improve gross margin sets the stage for better flow-through on sales for the remainder of the year. Notwithstanding, while we remain confident in and committed to executing our strategic plan, given recent volatility in our business we believe it is prudent to widen the range of our 2015 earnings outlook." 
  

7:34 am Belden beats by $0.02, misses on revs; guides Q2 EPS below consensus, revs in-line; guides FY15 in-line (BDC) : Reports Q1 (Mar) earnings of $1.00 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.98; revenues rose 12.2% year/year to $546.95 mln vs the $571.62 mln consensus.

• Co issues guidance for Q2, sees EPS of $1.15-1.25 vs. $1.34 Capital IQ Consensus Estimate; sees Q2 revs of $605-625 mln vs. $624.56 mln Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, sees EPS of $5.28-5.48 vs. $5.43 Capital IQ Consensus Estimate; sees FY15 revs of $2.45-2.5 bln vs. $2.49 bln Capital IQ Consensus Estimate.
  

7:34 am Carpenter Tech beats by $0.03, reports revs in-line (CRS) : Reports Q3 (Mar) earnings of $0.32 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.29; revenues rose 0.8% year/year to $570.6 mln vs the $567.4 mln consensus.

• In its Aerospace & Defense segment, co saw strong sequential and YoY sales growth for engine materials as supply chain demand normalizes; Fastener demand up year-over-year, driven primarily by high nickel content products; Structural and distribution activity reflects increased volume and improved mix on a sequential basis, with lower volume YoY
  

7:33 am Overnight Summary (BONDX) : Treasuries Little Changed

• The U.S. Treasury complex was mostly unchanged this morning while Wednesday's vicious sell-off in European sovereign debt followed through overnight
• Yield check:
• 2-yr: unch at 0.57%
• 5-yr: +1 bp to 1.43%
• 10-yr: unch at 2.05%
• 30-yr: +1 bp to 2.76%

• International News:
• The Bank of Russia cut its main policy rate by a greater-than-expected 150 basis points to 12.5%
• The rebound in the ruble has given the central bank more latitude to reduce rates and make monetary policy more accommodative as the Russian economy enters recession
• CPI for the eurozone in April exceeded estimates at 0.0% growth y/y versus -0.1% in March
• The unemployment rate in the single currency bloc was 11.3% in March, higher than expectations and the same as February's 
• German unemployment dropped 8K seasonally adjusted in April, less than the market had expected and less than the 14K decline in March
• According to a Bloomberg Markets Global Poll, 52% of investors believe that Greece will abandon the euro currency, up from 31% in January 
  
• Greek 10-year yields are down 20 basis points to 11.03

• Data Out Today: 
• Initial Jobless Claims for the week ending 4/25 and Continuing Claims for the week ending 4/18 (08:30 ET)
• March Personal Income and Personal Spending (08:30 ET) 
• March PCE Prices -- Core (08:30 ET)
• Q1 Employment Cost Index (08:30 ET)
• April Chicago PMI (09:45 ET) 
• Natural Gas Inventories for the week ending 4/25 (10:30 ET)

7:33 am EMCOR Group misses by $0.10, reports revs in-line; reaffirms FY15 EPS guidance, revs guidance (EME) : Reports Q1 (Mar) earnings of $0.52 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.62; revenues fell 0.1% year/year to $1.59 bln vs the $1.59 bln consensus. 

• Backlog as of March 31, 2015 was $3.74 billion, an increase of 11.0% from $3.37 billion at the end of the 2014 first quarter. Domestic backlog grew by $380 million, reflecting backlog growth in our U.S. Electrical and Mechanical Construction segments, slightly offset by declines in backlog in our U.S. Building Services and U.S. Industrial Services segments. 

Co reaffirms guidance for FY15, sees EPS of $2.65-2.95 vs. $2.81 Capital IQ Consensus Estimate; sees FY15 revs of approx $6.6 bln vs. $6.62 bln Capital IQ Consensus Estimate.

7:32 am Lancaster Colony beats by $0.01, beats on revs (LANC) : Reports Q3 (Mar) earnings of $0.75 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 8.9% year/year to $263.4 mln vs the $254.84 mln consensus.

• "Looking forward to our fiscal fourth quarter, while Easter holiday sales will be absent compared to the prior year, we will capture a full quarter of contribution from our new Flatout flatbread business. Commodity costs are expected to be modestly favorable in the upcoming quarter."
  
  

7:32 am Harte-Hanks misses by $0.02, misses on revs (HHS) : Reports Q1 (Mar) earnings of $0.03 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.05; revenues fell 8.7% year/year to $121.2 mln vs the $127.78 mln consensus.

• "Our sales activity continues to indicate market-consistent growth, and we have brought our cost base under tight control. As we onboard both new clients and major new projects during the second and third quarters, our revenue picture in the second half of the year should show steady growth, and profitability should likewise improve. We are committed to our plan and welcome our clients' support demonstrated through increased commitments. Our positive outlook for the business in 2015 will be further strengthened once the revenue and profit growth of the acquisition of 3Q Digital and the sale of Aberdeen and Market Intelligence begins to be realized."
  

7:32 am Alpha Natural Resources misses by $0.04, misses on revs (ANR) :

• Reports Q1 (Mar) loss of $0.79 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of ($0.75); revenues fell 24.3% year/year to $842 mln vs the $855.11 mln consensus. 
  
• Co maintains its 2015 shipment guidance range of 69 to 80 million tons, including 14 to 17 million tons of Eastern metallurgical coal, 19 to 23 million tons of Eastern steam coal, and 36 to 40 million tons of Western steam coal. As of April 16, 2015, 75% of the midpoint of anticipated 2015 metallurgical coal shipments was committed and priced at an average expected per ton realization of $78.67... Co's 2015 guidance for its Eastern adjusted cost of coal sales per ton remains $58.00 to $64.00, while Western adjusted cost of coal sales per ton is unchanged at a range of $10.00 and $11.00.
  

7:32 am Airgas beats by $0.01, reports revs in-line; guides Q1 EPS below consensus; guides FY16 EPS below consensus (ARG) : Reports Q4 (Mar) earnings of $1.15 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.14; revenues rose 2.7% year/year to $1.3 bln vs the $1.3 bln consensus.

• Co issues downside guidance for Q1, sees EPS of $1.14-1.18 vs. $1.22 Capital IQ Consensus Estimate. 
• Co issues downside guidance for FY16, sees EPS of $4.85-5.15 vs. $5.27 Capital IQ Consensus Estimate.
  

7:31 am Arrowhead Research publishes data in the Journal of Controlled Release, on subcutaneous siRNA delivery; data reports a high level of target gene knockdown and long duration of effect following subcutaneous injection with new DPC delivery vehicles (ARWR) : today announced the publication of new data on a subcutaneously administered formulation of its Dynamic Polyconjugate delivery system. jThe manuscript entitled, "Protease-triggered siRNA delivery vehicles," by David B. Rozema et al, was made available online ahead of print in the Journal of Controlled Release.

• In the publication, Arrowhead scientists describe the development of protease-sensitive masking chemistries that are used in a class DPCs where the RNAi trigger molecule is conjugated directly to the polymer delivery vehicle.
• The publication reports a high level of target gene knockdown and long duration of effect can be achieved after subcutaneous injection with these new DPC delivery vehicles in nonhuman primates. 
• After a single subcutaneous injection of 0.5 mg/kg siRNA against Factor 7, a liver expressed coagulation factor that is secreted into the bloodstream, a 99% reduction of FVII activity was observed in nonhuman primates.
• Further, reduction was highly durable with maximal knockdown occurring 24 days after injection and measurable reduction in FVII activity appears to persist for up to 200 days

7:31 am Solar Power announces an agreement to acquire Shanghai All-Zip Roofing System Group for RMB 275 mln (SOPW) : Co has entered into a definitive share purchase agreement with Shanghai All-Zip Roofing System Group Co and all of its shareholders  for the acquisition of 100% of the equity interest in All-Zip. All-Zip. Pursuant to the share purchase agreement, Meitai Investment agreed to purchase from the All-Zip Sellers 100% of the equity interest in All-Zip for an aggregate consideration of RMB275 million to be settled with SPI's shares of common stock at $2.38 per share

7:26 am HeartWare reports Q1 EPS in-line (HTWR) : Reports Q1 (Mar) loss of ($0.55) per share, excl. non-recurring items, in-line with the Capital IQ Consensus Estimate of ($0.55); revenues rose 5% year/year to $70 mln vs the $73.4 mln consensus.

• "Continued U.S. commercial expansion drove the second-largest unit sales quarter for HeartWare, although year-over-year U.S. growth was offset by a decrease in international unit sales when compared to the exceptionally strong international sales we achieved in the first quarter of 2014."
  

7:26 am Diebold beats by $0.01, beats on revs; guides FY15 EPS in-line, revs in-line (DBD) : Reports Q1 (Mar) earnings of $0.29 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.28; revenues fell 4.8% year/year to $655.5 mln vs the $624.06 mln consensus.

Co issues in-line guidance for FY15, sees EPS of $1.70-1.90, excluding non-recurring items, down from previous guidance of $1.80-2.00 vs. $1.90 Capital IQ Consensus Estimate; sees FY15 revs down 5% - 6% year/year

• Co continues to expect 2015 full-year revenue to be down ~5% to 6%, as the impact of incremental currency headwinds are expected to be partially offset by revenue from the co's recent acquisition of Phoenix.
  

7:25 am ClubCorp beats Q1 estimates; raises guidance following club acquisitions (MYCC) :

• Q1 rev was up $36.3 million, or 21.9%, to $202.1 mln vs. $198.5 mln consensus. 
• Adj EBITDA increased $6.9 million to $38.9 mln vs. $39.5 mln consensus, up 21.4% from increased revenue and lower club payroll and operating expenses as a percent of revenue. 
• Same-store revenue was up $4.6 million, or 2.8%, due primarily to higher dues revenue and increased food & beverage spend; while same store adjusted EBITDA grew $3.7 million, or 8.6%, due to increased revenue and favorable operating expenses as a percent of revenue. 

Reflecting the effect of its eight acquisitions this year, the Company is raising its guidance for the full year.

• For fiscal year 2015, the Company now expects to deliver revenue in the range of $1.03 billion to $1.06 bln vs. $1.02 bln consensus and adjusted EBITDA in the range of $230.0 million to $240.0 mln vs. $232 mln consensus. This outlook fully integrates our acquisition of Sequoia Golf and the stub period for all remaining announced acquisitions. As a result, the current outlook implies year-over-year revenue growth of 16-20% and year-over-year adjusted EBITDA growth of 17-22%. 
• Co believes it can reach $300 million in annual adjusted EBITDA in 2018 through the combination of organic growth, reinvention and acquisitions the Company made in fiscal 2014 and thus far in fiscal 2015. This target reflects our long-term objective of 5-7% adjusted EBITDA growth from organic growth and same store reinventions, plus 10-15% returns on invested capital applied to new acquisitions.

7:22 am BCE Inc beats by $0.05, reports revs in-line; reaffirms FY15 EPS and rev guidance (BCE) : Reports Q1 (Mar) earnings of CC$0.84 per share, excluding non-recurring items, CC$0.05 better than the Capital IQ Consensus Estimate of CC$0.79; revenues rose 2.8% year/year to CC$5.24 bln vs the CC$5.23 bln consensus. Co reaffirms guidance for FY15, continues to expect revenue growth of +1-3%; continues to expect EPS of CC$3.28-3.38, excluding non-recurring items, vs. C$3.32 Capital IQ Consensus Estimate.

7:22 am LKQ beats by $0.05, reports revs in-line; reaffirms FY15 EPS guidance (LKQ) : Reports Q1 (Mar) earnings of $0.36 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 8.9% year/year to $1.77 bln vs the $1.78 bln consensus.

• Co reaffirms guidance for FY15, sees EPS of $1.36-1.46 vs. $1.39 Capital IQ Consensus Estimate. Sees organic revenue growth for parts & services 6.5% to 9.0%. 
• "We are optimistic about our prospects for 2015 after a solid start to the year despite interim challenges such as those witnessed in the quarter with scrap and currency fluctuations. Our guidance reflects this belief with strong year over year growth in revenue, earnings and cash flows projected for 2015."
  

7:21 am Armstrong World Industries misses by $0.02, misses on revs (AWI) : Reports Q1 (Mar) earnings of $0.37 per share, excluding non-recurring items, $0.02 worse than the Capital IQ Consensus Estimate of $0.39; revenues fell 7.9% year/year to $551.4 mln vs the $591.43 mln consensus.

7:21 am MPLX LP misses by $0.05, reports revs in-line (MPLX) : Reports Q1 (Mar) earnings of $0.46 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.51; revenues rose 0.1% year/year to $137.5 mln vs the $138.1 mln consensus. 

• On April 20, the MPLX board of directors declared a distribution of $0.41 per unit. This represents an increase of $0.0825 per unit, or 25.2 percent, over the first-quarter 2014 distribution and an increase of $0.0275 per unit, or 7.2 percent, over the fourth-quarter 2014 distribution.
  

7:21 am Avon Products misses by $0.03, misses on revs (AVP) : Reports Q1 (Mar) earnings of $0.04 per share, excluding non-recurring items, $0.03 worse than the Capital IQ Consensus Estimate of $0.07; revenues fell 17.8% year/year to $1.79 bln vs the $1.83 bln consensus.

2015 Outlook

Company continues to expect constant-dollar revenue to be up modestly in 2015 as compared with 2014. However, based on recent foreign currency rates, revenue in reported dollars is expected to be negatively impacted by foreign currency translation, which is now expected to have an approximate 17 point negative impact (compared with the previous outlook of an approximate 12 point negative impact). The Company now expects Constant-dollar Adjusted operating margin to be approximately 50 basis points lower than 2014. While the Company expects to be able to offset the additional foreign currency transaction costs, the approximate 50 basis point decline is due to the new Industrial Production Tax ("IPI") law on cosmetics in Brazil, which is effective May 1, 2015. In addition, the strengthening U.S. dollar is expected to cause a larger negative impact from foreign currency translation than originally anticipated on the Company's Adjusted operating margin in reported dollars. As a result, the Company now expects Adjusted operating margin in reported dollars to be down approximately 200 basis points as compared with 2014, due to the expected impact from foreign currency translation and IPI.

7:20 am Vantiv beats by $0.01, beats on revs; guides Q2 EPS in-line, revs in-line (VNTV) : Reports Q1 (Mar) earnings of $0.45 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 29.6% year/year to $374 mln vs the $367.85 mln consensus.

• Co issues in-line guidance for Q2, sees EPS of $0.53-0.55, excluding non-recurring items, vs. $0.54 Capital IQ Consensus Estimate; sees Q2 revs of $405-410 mln vs. $406.44 mln Capital IQ Consensus Estimate.
  

7:19 am Xylem beats by $0.02, reports revs in-line; guides FY15 EPS in-line, revs in-line (XYL) : Reports Q1 (Mar) earnings of $0.33 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.31; revenues fell 7.6% year/year to $837 mln vs the $839.69 mln consensus.

• Co issues in-line guidance for FY15, sees EPS of $1.80-1.90 vs. $1.89 Capital IQ Consensus Estimate; sees FY15 revs of $3.7 bln vs. $3.7 bln Capital IQ Consensus Estimate.
  

7:18 am AmerisourceBergen beats by $0.26, beats on revs; guides FY15 EPS above consensus; announces new special $1 bln share repurchase program (ABC) : Reports Q2 (Mar) earnings of $1.45 per share, $0.26 better than the Capital IQ Consensus Estimate of $1.19; revenues rose 14.8% year/year to $32.67 bln vs the $32.26 bln consensus.

• Co raises FY15 guidance, sees EPS of $4.85-4.95 vs. prior guidance of $4.53-4.63 and the $4.63 Capital IQ Consensus Estimate.
  
• The Company also announced that its Board of Directors has authorized a new special $1 billion share repurchase program as part of the Company's previously announced warrant hedging strategy.
  

7:18 am Automatic Data beats by $0.02, reports revs in-line; sees FY15 EPS at high end, rev at low end of prior range (ADP) : Reports Q3 (Mar) earnings of $1.04 per share, $0.02 better than the Capital IQ Consensus Estimate of $1.02; revenues rose 7.3% year/year to $3.03 bln vs the $3.02 bln consensus.

• Co issues guidance for FY15, raises EPS to +14% from +12-14% to ~$2.94 vs. $2.92 Capital IQ Consensus; lowers rev growth to +7% from +7-8% due to FX (2% headwind).
• This forecast anticipates at least 75 basis points of pretax margin expansion from 18.4% in fiscal 2014

7:17 am G&K beats by $0.02, reports revs in-line; company raises bottom end of FY15 EPS guidance, in-line, narrows revenue guidance, now below expectations (GK) : Reports Q3 (Mar) earnings of $0.81 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.79; revenues rose 3.8% year/year to $233.5 mln vs the $234.81 mln consensus.

• Co narrows guidance for FY15, sees EPS of $3.24-3.30, excluding non-recurring items, vs. $3.27 Capital IQ Consensus Estimate, from $3.20-3.30; sees FY15 revs of $934-939 mln vs. $942.95 mln Capital IQ Consensus Estimate, from $930-950 mln
  

7:17 am Cardinal Health beats by $0.03, beats on revs (CAH) : Reports Q3 (Mar) earnings of $1.19 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $1.16; revenues rose 18.4% year/year to $25.38 bln vs the $24.4 bln consensus.

7:16 am Shire plc reports Q1 (Mar) results, beats on revs (SHPG) : Reports Q1 (Mar) earnings of $2.08 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.84; revenues rose 10.5% year/year to $1.49 bln vs the $1.46 bln consensus. 

2015 Outlook

• Remain confident in delivering Non GAAP diluted earnings per ADS growth in the mid-single digits in 2015. 
• Continue to expect product sales growth in the mid-to-high single digits. 
• Anticipate low-to-mid single digit product sales growth in 2015 (includes neg 3-4% FX headwind).
• Expect to see a lower rate of product sales growth through the remainder of 2015 than delivered in the first quarter, principally due to stronger comparatives.
• Royalties and other revenues are expected to increase by 30-40% in 2015.
• Non GAAP gross margin is expected to be in line with 2014 (2014: 85.8%). 
• Continue to expect combined Non GAAP R&D and SG&A to increase in the high single digits.
• Anticipate higher operating costs in the remaining quarters of 2015 than incurred in the first quarter 
• Expect Non GAAP net interest and other expense to be in line with 2014 levels. 
• For 2015, expect effective tax rate on Non GAAP income to be in the range of 15-17%, before reverting to the 17-19% range in 2016 and beyond.
• Taken together, reiterate guidance for the full year 2015, and remain confident in delivering Non GAAP diluted earnings per ADS growth in the mid-single digits in 2015 (high single digit growth on a CER basis).
  

7:16 am Enpro Industries misses by $0.07, reports revs in-line (NPO) : Reports Q1 (Mar) earnings of $0.25 per share, excluding non-recurring items, $0.07 worse than the Capital IQ Consensus of $0.32; revenues fell 3.4% year/year to $277.5 mln vs the $279.08 mln consensus. 

• "OEM order activity remains firm in our semiconductor, aerospace and trucking markets, and we have a healthy backlog and order rate in Power Systems," said Steve Macadam, president and chief executive officer. "However, we are seeing slowing demand from oil and gas markets as low commodity prices result in reduced project and maintenance spending. In addition, we expect the weakness of the euro and other foreign currencies to continue to have an unfavorable effect on our results as we translate sales denominated in those currencies to U.S. dollars."
  

7:16 am Radian Group beats by $0.03, beats on revs (RDN) : Reports Q1 (Mar) earnings of $0.35 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.32; revenues fell 1.5% year/year to $290.66 mln vs the $281.04 mln consensus.

7:16 am Teleflex announces appointment of Liam Kelly to Chief Operating Officer (TFX) : Prior to promotion, Kelly was Executive Vice President and President of the Americas. Prior to being named President of the Americas in early 2014, Kelly was Executive Vice President and President of the International operations

7:15 am CME Group beats by $0.03, reports revs in-line (CME) : Reports Q1 (Mar) earnings of $0.98 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.95; revenues rose 8.5% year/year to $843 mln vs the $835.8 mln consensus. 

• "We delivered strong revenue growth in the first quarter driven primarily by interest rate, energy and foreign exchange products, with double-digit average daily volume growth coming from Europe and North America and 22 percent growth from Asia," said CME Group Executive Chairman and President Terry Duffy. "Total average daily volume was 15 million contracts, up 10 percent, which was the second highest quarter in our history. We recorded solid revenue growth in our core futures products, swaps clearing and market data. This clearly demonstrates the value of the unparalleled diversity of our product set."
  

7:15 am Sealed Air beats by $0.12, beats on revs; guides FY15 EPS in-line, revs below consensus (SEE) : Reports Q1 (Mar) earnings of $0.54 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus Estimate of $0.42; revenues fell 4.4% year/year to $1.75 bln vs the $1.73 bln consensus. For FY15, co sees EPS of $2.08-2.15, excluding non-recurring items, vs. $2.11 Capital IQ Consensus Estimate; sees FY15 revs of approximately $7.10 bln vs. $7.36 bln Capital IQ Consensus Estimate.

• "Our first quarter 2015 performance was a strong start to the year despite currency headwinds."
  

7:14 am Fidelity Nat'l Info misses by $0.01, misses on revs; guides FY15 EPS in-line, revs slightly below consensus (FIS) : Reports Q1 (Mar) earnings of $0.65 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.66; revenues rose 1.6% year/year to $1.54 bln vs the $1.58 bln consensus.

• Co issues guidance for FY15, sees EPS of $3.27-3.37 vs. $3.31 Capital IQ Consensus Estimate; sees FY15 revs of $6.49-6.62 bln vs. $6.64 bln Capital IQ Consensus Estimate.
  

7:14 am Colgate-Palmolive reports EPS in-line, revs in-line; sees low-single-digit earnings per share decline on a dollar basis, (CL) : Reports Q1 (Mar) earnings of $0.66 per share, in-line with the Capital IQ Consensus Estimate of $0.66; revenues fell 5.9% year/year to $4.07 bln vs the $4.08 bln consensus.

• "As we look ahead, macroeconomic conditions and foreign exchange volatility remain challenging. Despite that, we anticipate another year of solid organic sales growth driven by a full new product pipeline across all categories and geographies. While our long-term goal of double-digit annual earnings per share growth remains unchanged, we continue to see significant deterioration in foreign exchange rates. We are planning for a year of gross margin expansion, however, based on current spot rates, we now expect a low-single-digit earnings per share decline on a dollar basis, excluding charges related to the 2012 Restructuring Program. This earnings per share decline would reflect a double-digit increase on a currency-neutral basis."
  

7:14 am IMAX beats by $0.02, beats on revs (IMAX) : Reports Q1 (Mar) earnings of $0.07 per share, excluding non-recurring items, $0.02 better than the Capital IQ Consensus Estimate of $0.05; revenues rose 29.0% year/year to $62.2 mln vs the $55.39 mln consensus. Strong film performance along with expanded margins result in over 50% growth in adjusted net income after non-controlling interest in Q1 2015 compared to Q1 2014.

7:13 am ConocoPhillips misses by $0.01 (COP) : Reports Q1 (Mar) loss of $0.18 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.17).

• Production from continuing operations, excluding Libya, for Q1 of 2015 was 1,610 MBOED, an increase of 80 MBOED compared with the same period a year ago.
• The net increase reflects 82 MBOED, or 5% growth, after adjusting for 2 MBOED from dispositions and downtime. Growth was primarily due to new production from major projects and development programs, partially offset by normal field decline.
• CEO said, "While the environment remains uncertain, our value proposition remains unchanged -- deliver a compelling dividend and predictable growth, with a focus on margins and financial returns."

Outlook:

• The company is on track to meet its previously stated target of 2-3% production growth in 2015 from continuing operations, excluding Libya. Second-quarter 2015 production is expected to be 1,555 to 1,595 MBOED, which excludes Libya.
• The company is also on track for $11.5 bln of capital expenditures and investments in 2015. Capital spending is expected to decrease throughout the year as major projects come on line and activity levels continue to ramp down in the North American unconventionals.
  

7:13 am Extended Stay America beats by $0.01, reports revs in-line; reaffirms FY15 revs guidance; increases quarterly distribution (STAY) : Reports Q1 (Mar) earnings of $0.15 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.14; revenues rose 6.4% year/year to $287.59 mln vs the $285.73 mln consensus.

• Co reaffirms guidance for FY15, sees FY15 revs of $1.275-1.3 vs. $1.29 bln Capital IQ Consensus Estimate.
  
• Co also announced an increase in its quarterly distribution to $0.17/share from $0.15/share

7:11 am OM Group misses by $0.18, beats on revs (OMG) : Reports Q1 (Mar) loss of $0.13 per share, excluding non-recurring items, $0.18 worse than the Capital IQ Consensus Estimate of $0.05; revenues fell 5.3% year/year to $247.8 mln vs the $226.2 mln consensus.

7:11 am Delphi Automotive beats by $0.04, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; guides FY15 EPS above consensus, revs in-line (DLPH) : Reports Q1 (Mar) earnings of $1.21 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $1.17; revenues fell 2.6% year/year to $3.8 bln vs the $3.76 bln consensus. Co issues downside guidance for Q2, sees EPS of $1.27-1.37, excluding non-recurring items, vs. $1.38 Capital IQ Consensus Estimate; sees Q2 revs of $3.82-3.92 bln vs. $3.94 bln Capital IQ Consensus Estimate. Co issues mixed guidance for FY15, sees EPS of $5.35-5.50, excluding non-recurring items, vs. $5.30 Capital IQ Consensus Estimate; sees FY15 revs of $15.3-15.7 bln vs. $15.54 bln Capital IQ Consensus Estimate.

7:11 am Marathon Petroleum beats by $0.38, misses on revs (MPC) : Reports Q1 (Mar) earnings of $3.24 per share, $0.38 better than the Capital IQ Consensus Estimate of $2.86; revenues fell 26.2% year/year to $17.24 bln vs the $17.74 bln consensus. 

• "Our refineries operated very well during the first quarter, and we were able to capture the strong Gulf Coast and Midwest crack spreads."
  
• In the midstream, Heminger announced that the MPC board of directors authorized the sale of its marine business to MPLX (MPLX). The marine operations are a fully integrated waterborne transportation service provider, capable of moving light products, heavy oils, crude oil, renewable fuels, chemicals and feedstocks throughout the Midwest and Gulf Coast regions of the U.S. Its assets include 18 towboats and 203 tank barges, among other related assets.
  

7:10 am Rockwell Automation beats by $0.17, reports revs in-line; reaffirms FY15 EPS guidance, guides FY15 revs below consensus (ROK) : Reports Q2 (Mar) earnings of $1.59 per share, excluding non-recurring items, $0.17 better than the Capital IQ Consensus Estimate of $1.42; revenues fell 3.1% year/year to $1.55 bln vs the $1.56 bln consensus. For FY15, co sees EPS of $6.50-6.80, excluding non-recurring items, vs. $6.52 Capital IQ Consensus Estimate; sees FY15 revs of approximately $6.40 bln vs. $6.51 bln Capital IQ Consensus Estimate.

• "Earnings growth in the quarter was robust in spite of lower sales, as solid organic sales growth was more than offset by a large currency headwind. Margin expansion was very healthy and free cash flow was also strong in the quarter. I am extremely pleased with 15 percent first half growth in Adjusted EPS, an excellent result in this market environment."
• Outlook: "Based on a softer forecast for industrial production growth, a reduced outlook for oil and gas, and our solutions and services backlog entering the second half, we are lowering our full-year organic growth by 1 point. We are also including a larger currency headwind and now expect fiscal 2015 reported sales of about $6.4 billion. In spite of the top line reduction, our expectation for a higher full-year margin enables us to maintain the Adjusted EPS guidance range of $6.50 to $6.80."
  

7:10 am H&E Equipment Srvs misses by $0.05, misses on revs; guides FY15 revs below consensus (HEES) : Reports Q1 (Mar) earnings of $0.17 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.22; revenues fell 4.1% year/year to $227.4 mln vs the $244.75 mln consensus.

• Co issues downside guidance for FY15, sees FY15 revs of $1.065-1.088 bln vs. $1.11 bln Capital IQ Consensus Estimate.
  

7:09 am Teledyne Tech beats by $0.01, misses on revs; guides Q2 EPS below consensus; guides FY15 EPS in-line (TDY) : Reports Q1 (Mar) earnings of $1.20 per share, $0.01 better than the Capital IQ Consensus Estimate of $1.19; revenues fell 1.5% year/year to $565 mln vs the $597.62 mln consensus.

• Co issues downside guidance for Q2, sees EPS of $1.30-1.34 vs. $1.39 Capital IQ Consensus Estimate. Co issues in-line guidance for FY15, sees EPS of $5.60-5.65 vs. $5.73 Capital IQ Consensus Estimate.
  
• "Excluding the impact of foreign currency, sales were largely flat with last year. However, operating margin increased 40 basis points and gross margin was an all-time record."
  

7:07 am American Tower beats by $0.08, beats on revs (AMT) : Reports Q1 (Mar) funds from operations of $1.25 per share, $0.08 better than the Capital IQ Consensus Estimate of $1.17; revenues rose 9.6% year/year to $1.08 bln vs the $1.07 bln consensus. 

• Company has raised the midpoint of its full year 2015 outlook for total rental and management revenue by $290 million, Adjusted EBITDA by $150 million and AFFO by $85 million. 
• These estimates include the impacts of the Verizon transaction, which closed on March 27, 2015 and the first tranche of 4,176 TIM Brazil sites, which closed on April 29, 2015. The impacts of the approximately 2,300 TIM Brazil sites that have not yet closed are not included in our current outlook.
• Co sees total rental and management revenue in the range of $4.55-4.60 bln; sees Adjusted EBGITDA in the range of $2.99-3.03 bln; sees ADFFO in the range of $2.03-2.07 bln; sees Net Income in the range of $830-860 mln.
  

7:07 am Incyte misses by $0.05, reports revs in-line (INCY) : Reports Q1 (Mar) loss of $0.11 per share, $0.05 worse than the Capital IQ Consensus Estimate of ($0.06); revenues rose 77.4% year/year to $159.3 mln vs the $158.69 mln consensus. As of March 31, 2015, cash, cash equivalents and marketable securities totaled $585 million, compared to $600 million as of December 31, 2014.

7:06 am Old Dominion beats by $0.02, misses on revs (ODFL) : Reports Q1 (Mar) earnings of $0.73 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.71; revenues rose 12.2% year/year to $696.3 mln vs the $705.8 mln consensus.

7:06 am Pitney Bowes reports EPS in-line, misses on revs; guides FY15 EPS in-line, revs above consensus (PBI) : Reports Q1 (Mar) earnings of $0.40 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.40; revenues fell 4.9% year/year to $891 mln vs the $921.03 mln consensus.

• Co issues guidance for FY15, sees EPS of $1.85-2.00 vs. $1.92 Capital IQ Consensus Estimate; sees FY15 revs of flat to up 3% or roughly $3.82-3.94 bln vs. $3.79 bln Capital IQ Consensus Estimate.
  

7:06 am Asian Markets Close: Japan's Nikkei -2.7%; Hong Kong's Hang Seng -0.9%; China's Shanghai Composite -0.8% (:SUMRX) : Major markets in Asia all declined on Thursday in a profit-taking sweep that followed Wall Street's weak showing on Wednesday and amid concerns about overheated conditions. Japan (-2.7%) led the selling, suffering its biggest loss in four months. On a related note, the Bank of Japan left its key lending rate unchanged at 0.10% as expected.

Economic data

• Japan
• March Industrial Production -0.3% month-over-month (expected -2.3%; prior -3.1%)
• March Housing Starts +0.7% year-over-year (expected -1.9%; prior -3.1%)
• March Construction Orders +10.8% year-over-year (prior +1.0%)
• Bank of Japan held key lending rate steady at 0.10% (expected 0.10%; prior 0.10%)
• South Korea
• March Industrial Production -0.4% month-over-month (expected +0.3%; prior +2.3%); -0.1% year-over-year (expected -1.8%; prior -5.0%)
• March Retail Sales -0.6% month-over-month (expected +1.1%; prior +2.6%)
• March Service Sector Output -0.4% month-over-month (prior +1.6%)
• Australia
• March Private Sector Credit +0.5% month-over-month (expected +0.5%; prior +0.5%)
• Q1 Import Price Index -0.2% quarter-over-quarter (expected +1.1%; prior +0.9%)
• Q1 Export Price Index -0.8% quarter-over-quarter (expected -0.8%; prior 0.0%)
• Singapore
• Q2 Business Expectations 5.00 (prior -3.00)

Equity Markets

• Japan's Nikkei declined 2.7%, suffering its largest loss in four months with disappointing earnings overshadowing some better-than-expected data for industrial production and housing starts. Separately, the Bank of Japan held its key lending rate steady at 0.10% as expected. Every sector was lower, paced by weakness in the communications (-3.6%), industrial (-2.8%), basic materials (-2.6%), and consumer cyclical (-2.6%) sectors. Ricoh (-9.0%), Sumitomo Heavy Industries (-7.6%), Shin-Etsu Chemical (-7.0%), and Honda Motor (-6.7%) were the worst-performing issues. Out of the 225 index members, 20 ended higher, 203 finished lower, and 2 were unchanged.
• Hong Kong's Hang Seng declined 0.9%. Every sector finished lower with the exception of the market's most influential sector: the financial sector (+0.5%). The communications (-2.5%) and consumer non-cyclical (-2.5%) sectors were the weakest links. China Unicom Hong Kong (-5.8%), China Mengniu Dairy (-4.6%) and BOC Hong Kong Holdings (-4.4%) topped the list of individual decliners while China Resources Land (+7.4%), China Overseas Land & Investment, and Link REIT (+2.7%) paced the winners. Out of the 50 index members, 16 ended higher, 33 finished lower, and 1 was unchanged.
• China's Shanghai Composite declined 0.8%, succumbing to a wave of selling interest in the final hour that knocked it down from unchanged levels. The energy (-2.7%), basic materials (-1.7%), and financial (-1.3%) were the primary weak spots in the Chinese market.
• India's Sensex declined 0.8% with losses in all sectors except the energy sector (+0.1%). The biggest decliners were the communications (-1.6%) and consumer cyclical (-1.6%) sectors. Tata Motors (-2.4%), Mahindra & Mahindra (-2.4%), and Coal India (-2.2%) topped the list of decliners while Axis Bank (+2.9%), Reliance Industries (+1.5%), and Sesa Sterlite (+1.4%) led the winners.
• Australia's S&P/ASX 200 declined 0.8%, pressured by weakness in the gold (-2.2%), financial (-1.5%), and telecom services (-1.4%) sectors.
• Regional advancers: Singapore +0.01%, Thailand +0.3%
• Regional decliners: Taiwan -0.3%, South Korea -0.7%, Malaysia -1.3%, Indonesia -0.4%, Philippines -1.4%
• Holiday closure: Vietnam (Saigon Liberation Day)

FX

• USD/CNY +0.01% at 6.2010
• USD/INR +0.08% at 63.510
• USD/JPY -0.05% at 118.96
  

7:06 am Teleflex beats by $0.03, misses on revs; guides FY15 EPS in-line (TFX) : Reports Q1 (Mar) earnings of $1.30 per share, $0.03 better than the Capital IQ Consensus Estimate of $1.27; revenues fell 2.1% year/year to $429.4 mln vs the $433.8 mln consensus.

• Co issues in-line guidance for FY15, sees EPS of $6.10-6.35 vs. $6.23 Capital IQ Consensus Estimate; the Company continues to estimate that constant currency revenue growth will be between 4% and 6%.
  

7:05 am Local announces initiation of an external process to explore strategic alternatives, engaging Siemer & Associates as its financial advisor during considerations (LOCM) : Local does not have a defined timeline for the strategic review process

7:04 am Teva Pharma beats by $0.10, beats on revs; raises FY15 EPS slightly, in-line (TEVA) : Reports Q1 (Mar) earnings of $1.36 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of $1.26; revenues fell 0.4% year/year to $4.98 bln vs the $4.83 bln consensus.

• Global sales of Copaxone (20 mg/mL and 40 mg/mL), the leading multiple sclerosis therapy in the U.S. and globally, amounted to $924 million, a decrease of 14% compared to the first quarter of 2014. In April 2015, Sandoz announced that it had obtained final approval of its ANDA for a generic version of once daily Copaxone 20 mg/mL. Sandoz could begin selling its generic product at any time. Organic revenue growth of 8% excluding the impact of foreign exchange fluctuations and the divestment of the U.S. OTC plants.
• "On April 21, 2015, we announced a proposal to acquire all of the outstanding shares of Mylan N.V. in a transaction valued at $82.00 per Mylan share, with the consideration to be comprised of ~50% cash and 50% stock, representing ~ $50 billion in enterprise value."

Co issues in-line guidance for FY15, sees EPS $0.05 to $5.05-5.35, excluding non-recurring items, vs. $5.14 Capital IQ Consensus Estimate. 

7:04 am Ultra Petroleum beats by $0.09, misses on revs (UPL) : Reports Q1 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus Estimate of $0.05; revenues fell 32.8% year/year to $219.3 mln vs the $239.12 mln consensus.

• For the first quarter of 2015, production of natural gas and oil was 70.4 billion cubic feet equivalent (Bcfe). The company's production for the first quarter was comprised of 64.7 billion cubic feet (Bcf) of natural gas and 951.1 thousand barrels (Mbbls) of oil and condensate. 2015

Annual Income Tax Guidance:

• Ultra currently projects a zero book tax rate for 2015 and anticipates additional tax refunds during the year. 
  

7:04 am Alkermes beats by $0.11, beats on revs (ALKS) : Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of ($0.05); revenues rose 23.8% year/year to $161.2 mln vs the $141.98 mln consensus.

7:04 am West Pharm beats by $0.05, misses on revs; lowers FY15 EPS and revenue guidance (WST) : Reports Q1 (Mar) earnings of $0.45 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.40; revenues fell 3.1% year/year to $335.9 mln vs the $346.6 mln consensus. Co issues downside guidance for FY15, sees EPS of $1.69-1.84, excluding non-recurring items, down from prior guidance of $1.74-1.92, and vs. $1.84 Capital IQ Consensus Estimate; sees FY15 revs of $1.395-1.425 bln, down from prior guidance of $1.43-1.46 bln, and vs. $1.44 bln Capital IQ Consensus Estimate.

7:03 am Timmins Gold and Newstrike Capital Shareholders approve acquisition of Newstrike Capital by Timmins Gold; Arrangement is expected to be completed in May 2015 (TGD) :  

7:03 am Summit Therapeutics announces that the USPTO has issued a patent that protects the use of SMT19969 in the treatment of CDI (SMMT) : United States Patent number 8,975,416 is entitled "Antibacterial Compounds" and will provide a period of exclusivity for the use in the United States of the small molecule antibiotic SMT19969 in the treatment of CDI through until at least 1 December 2029. Patent protection has previously been granted for SMT19969 in the treatment of CDI in a number of other countries, including Japan.

7:03 am Emergent BioSolutions announces US FDA approval for IXINITY, for perioperative management in adults and children with Hemophilia B (EBS) : The approval of IXINITY is based on a global clinical trial in which IXINITY showed a mean incremental recovery of 0.98 IU/dL and a mean terminal half-life of 24 hours.

• Study results showed that IXINITY achieved similar pharmacokinetic behavior as nonacog alfa, another licensed recombinant coagulation factor IX product. 
• In the studies, a total of 508 bleeding episodes were treated with IXINITY, of which 286 bleeds were recorded for subjects treated with the routine treatment regimen and 222 in the on-demand regimen. A majority of the bleeds, 84%, were resolved by one or two infusions of IXINITY.
  

7:03 am Shire plc appoints Jeff Poulton as CFO, effective immediately; Poulton has served as Interim CFO since December 2014 (SHPG) :  

7:03 am ERBA Diagnostics provides an update on the anticipated timing of the filing of its annual report on Form 10-K; now expects to do on or about May 15, 2015 (ERB) :  

7:02 am OncoGenex Pharma has filed an amendment with the FDA, as well as initiated filing with regulatory agencies in other countries, to amend the statistical design and analysis plan of its Phase 3 ENSPIRIT trial (OGXI) : OncoGenex recently regained the rights to the investigational compound from Teva Pharmaceuticals Ltd. and is currently in the process of assuming sponsorship for all clinical development related to custirsen. The protocol amendment is designed to reduce the number of required patients enrolled in the trial and include an earlier, more rigorous second interim futility analysis. The protocol will now also include additional analyses, specifically an evaluation of overall survival (:OS) by patient histology, as well as the effect of custirsen's efficacy among patients with poor prognostic risk factors. These changes do not affect the criteria for enrollment or conduct of the study, which continues to accrue patients. Enrollment is expected to be completed in the second half of 2016. Under the revised protocol, the following changes include

• A reduced sample size: Changes to trial sample size were based on revising the hypothesized hazard ratio to 0.75 instead of 0.80, resulting in a sample size of 700 patients instead of 1,100. This change maintains a power of 90% while assessing for a more clinically meaningful difference.
• Revised timing of second survival futility analysis: The second analysis will now take place when 40% of events occur, instead of the original 50%. As previously reported, OncoGenex expects this to occur in mid-2015. An Independent Data Monitoring Committee recommended the ENSPIRIT trial continue based on the outcome of the first interim futility analysis in August 2014. Trial results will remain blinded to the Independent Data Monitoring Committee and OncoGenex, as the sponsor, unless futility is observed.
• Additional analyses: An evaluation of OS by patient histology, and the effect of custirsen's efficacy among patients with varying risk factors and disease parameters, will now be conducted. 

7:02 am WuXi PharmaTech announces receipt of proposal to acquire all outstanding shares for $46/ADS share in cash (WX) : Co announced that its board of directors has received a preliminary non-binding proposal letter from a consortium led by Dr. Ge Li, founder, chairman and chief executive officer of the Company, and Ally Bridge Group Capital Partners that proposes a transaction involving the acquisition of all outstanding shares of the Company for $46.00 in cash per American Depositary Share or $5.75 in cash per ordinary share.

• According to the proposal letter, the Consortium will form an acquisition company for the purpose of implementing the Transaction, and the Transaction is intended to be financed with a combination of debt and equity capital. The proposal letter also states that the Chairman and ABG have agreed to work together exclusively in pursuing the Transaction. 
• The Company's Board of Directors will form a special committee comprising independent directors of the Company to consider the proposed transaction.
  

7:02 am Marsh McLennan beats by $0.05, misses on revs (MMC) : Reports Q1 (Mar) earnings of $0.91 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.86; revenues fell 1.5% year/year to $3.21 bln vs the $3.35 bln consensus.

7:01 am Navios Maritime Midstream beats by $0.02, reports revs in-line (NAP) : Reports Q1 (Mar) earnings of $0.33 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 6.4% year/year to $16.7 mln vs the $16.79 mln consensus.

7:01 am Main Street Capital announces the expansion of total commitments under its five-year credit facility from $572.5 mln to $597.5 mln and an increase in the accordion feature of the Credit Facility from $650 mln to $750 mln (MAIN) :

7:00 am ICF International announces the award of a EUR 7 mln task order by the European Commission's Directorate-General for Communication (ICFI) : ICF will organise and manage events for the Europe Direct network, part of DG COMM's public information and communication services. The contract, which was awarded to Brussels-based ICF Mostra, has a value of 7 million and a term of four years.

7:00 am Atlas Air Worldwide beats by $0.54, beats on revs; expects significant growth in 2015 EPS (AAWW) : Reports Q1 (Mar) earnings of $1.03 per share, $0.54 better than the Capital IQ Consensus Estimate of $0.49; revenues rose 10.3% year/year to $444.85 mln vs the $398.75 mln consensus. 

• Co anticipates significant growth in adjusted fully diluted earnings per share in 2015. 
• "We are seeing good airfreight demand in the second quarter of 2015. On a sequential basis, we expect earnings per share in the second quarter of 2015 to be slightly better than our first-quarter 2015 adjusted earnings. We also anticipate sequential increases in our third- and fourth-quarter earnings per share. Visibility into second-half airfreight market demand and yields remains limited at this point, so we will update our expectations about the second half as the year progresses."
  

6:59 am Progessive Waste beats by $0.01, misses on revs, reaffirms 2015 outlook (BIN) : Reports Q1 (Mar) earnings of $0.25 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.24; revenues fell 2.0% year/year to $460.21 mln vs the $473.19 mln consensus.

• Adjusted EBITDA was $106.9 million, or (5.3)% lower, in the first quarter of 2015 versus $112.9 million in the same quarter a year ago.
  

6:58 am Viacom beats by $0.09, misses on revs (VIAB) : Reports Q2 (Mar) earnings of $1.16 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $1.07; revenues fell 3.0% year/year to $3.08 bln vs the $3.25 bln consensus, driven by increases in Media Networks that were more than offset by declines in Filmed Entertainment revenues and the impact of foreign exchange. Excluding an unfavorable 2% impact of foreign exchange, revenues declined 1%.

• Media Networks revenues increased 3% to $2.45 billion, due to higher advertising revenues and affiliate fees. 
• Filmed Entertainment revenues decreased 21% to $659 million, driven by declines in television license fees and home entertainment revenues that were impacted by the number and mix of available titles. 
• Domestic advertising revenues declined 5%, reflecting lower ratings. 
• The Company's previously announced strategic realignment resulted in a $784 million charge, and is expected to provide ongoing annual net savings of approximately $350 million.
  

6:58 am L-3 Communications misses by $0.14, misses on revs; reaffirms FY15 EPS guidance, lowers FY15 revs below consensus (LLL) : Reports Q1 (Mar) earnings of $1.43 per share, $0.14 worse than the Capital IQ Consensus Estimate of $1.57; revenues fell 8.3% year/year to $2.71 bln vs the $2.79 bln consensus.

• Co issues guidance for FY15, sees EPS of $7.35-7.65 vs. $7.64 Capital IQ Consensus Estimate; sees FY15 revs of $11.45-11.65 bln vs. $11.79 bln Capital IQ Consensus Estimate, prior guidance $11.75-11.95 bln.
  

6:56 am Teledyne Tech announces the acquisition of remaining stake in Optech Incorporated, bringing its ownership interest to 100%: financial terms not disclosed (TDY) :  

6:50 am TASER beats by $0.07, beats on revs (TASR) : Reports Q1 (Mar) earnings of $0.13 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.06; revenues rose 23.8% year/year to $44.8 mln vs the $39.97 mln consensus. 

• The increase was primarily driven by increased TASER X26P and TASER X2 Smart Weapon sales which increased $7.2 million and $4.8 million, respectively, in Q1, YoY.
• International sales were $9.0 million in the quarter, a decrease of $1.6 million compared to the prior year first quarter. 
• TASER Weapons segment revenues grew $5.9 million year-over-year, or 18.1%, to $38.3 million in the first quarter of 2015. 
• The increase in Smart Weapon sales of $12.0 million was partially offset by a decrease of $4.5 million in the legacy TASER X26 CEW sales as it has been retired from production as of December 31, 2014. 
• AXON segment revenues increased by $2.7 million, or 73.1%, to $6.4 million in the first quarter of 2015 in comparison to the prior year first quarter.
  

6:46 am West Marine beats by $0.03, beats on revs; reaffirms FY15 EPS guidance (WMAR) : Reports Q1 (Mar) loss of $0.42 per share, $0.03 better than the Capital IQ Consensus Estimate of ($0.45); revenues rose 12.2% year/year to $127.1 mln vs the $116.84 mln consensus.

• Co reaffirms guidance for FY15, sees EPS of $0.14-0.27 vs. $0.26 Capital IQ Consensus Estimate.
  
• Reaffirms FY15 EBITDA of $26-31 mln
  

6:46 am NiSource beats by $0.04; Columbia Pipeline (CPGXF) separation on track for July 1, 2015 (NI) : Reports Q1 (Mar) earnings of $0.85 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.81; revenues fell 7.3% year/year to $2.13 bln vs the $2.33 bln consensus. 

• During the first quarter, NiSource continued to make progress on its planned separation of Columbia Pipeline Group (CPG) into a stand-alone, publicly traded company, which is expected to become effective on July 1, 2015. CPG is expected to begin trading the next day on the New York Stock Exchange under the ticker symbol "CPGX."
  

6:45 am PBF Logistics beats by $0.04, beats on revs; increases quarterly distribution 6% to $0.35/unit from $0.33/unit; announces potential acquisition of Delaware City Products Pipeline and Truck Rack (PBFX) : Reports Q1 (Mar) earnings of $0.51 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.47.

• During the first quarter, the Partnership generated earnings before interest, income taxes, depreciation, and amortization of $20.1 million and distributable cash flow of $19.2 million.
  
• As of March 31, 2015, the Partnership had $20.2 million in cash and cash equivalents and access to an additional $49.9 million under its existing revolving credit facility.
  
• "We are very excited to announce the potential acquisition of the Delaware City Products Pipeline and Truck Rack. The annualized expected increase to EBITDA is approximately $14.3 million and represents almost a 20 percent increase to our existing base"

6:44 am Applied Industrial misses by $0.07, misses on revs; guides FY15 EPS below consensus; announces new buyback (AIT) : Reports Q3 (Mar) earnings of $0.70 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.77; revenues rose 10.0% year/year to $680 mln vs the $700.99 mln consensus.

• Co issues downside guidance for FY15, sees EPS of $2.80-2.95 vs. $2.98 Capital IQ Consensus Estimate, on a sales increase of 11.5% to 13%.  
  
• On April 28, the Board of Directors approved a new authorization to repurchase up to 1.5 million shares, in open market and negotiated transactions, replacing the existing authorization.
  

6:42 am Pacira Pharma beats by $0.06, misses on revs (PCRX) : Reports Q1 (Mar) earnings of $0.27 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 59.1% year/year to $58.31 mln vs the $61.36 mln consensus.

6:42 am Ingredion beats by $0.08, misses on revs; guides FY15 EPS in-line (INGR) : Reports Q1 (Mar) earnings of $1.30 per share, $0.08 better than the Capital IQ Consensus Estimate of $1.22; revenues fell 2.0% year/year to $1.33 bln vs the $1.36 bln consensus. Net sales were down in the first quarter as a result of currency devaluations and the pass through of lower net corn costs, partially offset by volume growth, both organic and acquisition related.

• Co issues in-line guidance for FY15, sees EPS of $5.50-6.00 vs. $5.59 Capital IQ Consensus Estimate; expects cash generated by operations and capital expenditures are expected to be approximately $650-$700 million and $300 million, respectively. 
  

6:40 am Quanta Services misses by $0.09, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY15 EPS below consensus, revs below consensus (PWR) : Reports Q1 (Mar) earnings of $0.31 per share, $0.09 worse than the Capital IQ Consensus Estimate of $0.40; revenues rose 7.1% year/year to $1.89 bln vs the $1.86 bln consensus.

• Co issues downside guidance for Q2, sees EPS of $0.42-0.48 vs. $0.53 Capital IQ Consensus Estimate; sees Q2 revs of $1.95-2.05 vs. $2.04 bln Capital IQ Consensus Estimate. 
• Co revises its FY15 guidance lower, sees EPS of $1.94-2.14 vs prior guidance of $2.04-2.29 and the $2.23 Capital IQ Consensus Estimate; sees FY15 revs of $8.1-8.5 vs. $8.45 bln Capital IQ Consensus Estimate.
  
• "The overall outlook for Quanta's business is positive. However, regulatory, permitting and other challenges may impact project timing. Therefore, Quanta's financial outlook for revenues, margins and earnings reflects management's efforts to properly align these uncertainties with the backlog the company is executing on and the opportunities expected to materialize during 2015."
• "As the timing of the close of the transaction with Crown Castle is uncertain, our financial outlook includes the contribution of our fiber optic licensing operations for the entire year. For the twelve month period ending December 31, 2015, Quanta's fiber optic licensing operations are estimated to generate approximately $105 million to $110 million in revenue and contribute $0.12 to $0.13 in diluted earnings per share."

6:39 am PBF Energy beats by $0.12, beats on revs (PBF) : Reports Q1 (Mar) earnings of $0.87 per share, $0.12 better than the Capital IQ Consensus Estimate of $0.75; revenues fell 36.9% year/year to $3 bln vs the $2.81 bln consensus.

• Increases backlog of MLP-qualifying EBITDA to approximately $200 million
  

6:37 am Beazer Homes beats by $0.05, beats on revs; expects $20 mln improvement in EBITDA for FY15 (BZH) : Reports Q2 (Mar) loss of $0.08 per share, $0.05 better than the Capital IQ Consensus Estimate of ($0.13); revenues rose 10.9% year/year to $299.4 mln vs the $292 mln consensus. 

• New home orders grew 22.2% for the quarter with an average active community count that was 14.3% higher than a year ago. 
• Absorption rates were especially strong at 3.5 sales per community per month for the quarter, while the average selling price ("ASP") from closings increased 12.3% to $305.8 thousand, the highest ASP for any quarter in the Company's history. 
• Backlog at March 31, 2015 consisted of 2,533 homes with a value of $814.1 million, up 27.8% versus last year.
  
• Co expects to achieve a $20 million improvement in Adjusted EBITDA for fiscal 2015 versus last year,

6:36 am Starz beats by $0.17 (:GAAP), beats on revs (STRZA) : Reports Q1 (Mar) GAAP earnings of $0.79 per share, $0.17 better than the Capital IQ Consensus of $0.62; revenues rose 7.3% year/year to $450.7 mln vs the $435.77 mln consensus.

6:35 am Allegion beats by $0.04, reports revs in-line; reaffirms FY15 EPS guidance (ALLE) : Reports Q1 (Mar) earnings of $0.51 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.47; revenues fell 1.7% year/year to $458.7 mln vs the $454.94 mln consensus.

• Co reaffirms guidance for FY15, sees EPS of $2.65-2.75, excluding non-recurring items, vs. $2.76 Capital IQ Consensus Estimate.
  

6:34 am Catamaran beats by $0.02, beats on revs (previously announced it was being acquired by UNH) (CTRX) : Reports Q1 (Mar) earnings of $0.59 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.57; revenues rose 21.7% year/year to $5.98 bln vs the $5.73 bln consensus.

6:34 am Host Hotels beats by $0.02, reports revs in-line; reaffirms FY15 FFO guidance, guides FY15 revs (HST) : Reports Q1 (Mar) funds from operations of $0.35 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 0.6% year/year to $1.32 bln vs the $1.32 bln consensus.

• Comparable RevPAR on a constant dollar basis improved 3.8% for the quarter, driven by rate growth of 4.8%, partially offset by a decrease in occupancy of 0.7 percentage points.

Co issues guidance for FY15, sees FFO of $1.52-1.55 vs. $1.54 Capital IQ Consensus Estimate; sees FY15 revs of +1.3-2.5% to ~$5.42-5.49 bln vs. $5.5 bln Capital IQ Consensus; comp RevPAR constant $ +4.5-5.5%.

6:34 am Bunge beats by $0.44, misses on revs (BG) : Reports Q1 (Mar) operational earnings of $1.58 per share, $0.44 better than the Capital IQ Consensus Estimate of $1.14; revenues fell 19.7% year/year to $10.81 bln vs the $13.16 bln consensus. 

• "In Food & Ingredients, we expect 2015 results to be considerably higher year-over-year, driven by our operational excellence initiatives. However, the strong U.S. dollar and slowing economies in certain markets could cause the amount of increase to be less than we earlier expected....In Sugar & Bioenergy, our sugarcane crop is developing well and product prices are at levels that give us confidence that we will finish the year profitable and free cash flow positive. Due to the seasonality of the Brazilian sugarcane harvest, we expect results in this segment to be weighted toward the second half of the year."
  

6:33 am Gentherm beats by $0.02, misses on revs; guides FY15 revs in-line (THRM) : Reports Q1 (Mar) earnings of $0.55 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.53; revenues rose 6.7% year/year to $206.9 mln vs the $214.43 mln consensus.

• Co issues in-line guidance for FY15, sees FY15 revs +10-15%, which equates to roughly $892.1-932.7 mln vs. $908.92 mln Capital IQ Consensus Estimate.
  

6:30 am Ball Corp misses by $0.10, beats on revs (BLL) : Reports Q1 (Mar) earnings of $0.69 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.79; revenues fell 4.2% year/year to $1.92 bln vs the $1.9 bln consensus.

• "First quarter results were largely impacted by expected headwinds totaling 16 cents per diluted share from foreign currency translation, higher metal premiums in Europe, and start-up costs related to growth capital investments. We continue to invest in our future with ongoing capital projects in North America, Europe and Southeast Asia that will fully ramp up in the second half of 2015 and the first half of 2016."
  
• "We continue to expect 2015 free cash flow to be in the range of $600 million, excluding cash costs for the proposed Rexam acquisition, and we have initiated multiple currency and interest rate hedges to mitigate risk related to the proposed acquisition."

6:30 am Qumu announces the appointment of Peter Goepfrich as CFO, effective May 18, 2015 (QUMU) : Goepfrich replaces James Stewart who, as previously reported, is retiring from Qumu effective September 30, 2015.  Goepfrich was most recently Vice President and Chief Financial Officer of Deluxe Corporation, Small Business Services. 

6:29 am Air Products reports EPS in-line, misses on revs; guides Q3 EPS below consensus; reaffirms FY15 EPS (APD) : Reports Q2 (Mar) earnings of $1.55 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $1.55; revenues fell 6.5% year/year to $2.41 bln vs the $2.61 bln consensus, as underlying sales growth of five percent was more than offset by unfavorable currency and lower energy pass-through.

• Volumes increased four percent, primarily in Industrial Gases--Asia and Materials Technologies, and pricing was up one percent. Sequentially, sales declined six percent on unfavorable currency and lower energy pass-through.

Co issues downside guidance for Q3, sees EPS of $1.55-1.60, excluding non-recurring items, vs. $1.65 Capital IQ Consensus Estimate.

Co issues reaffirms guidance for FY15, sees EPS of $6.35-6.55, excluding non-recurring items, vs. $6.49 Capital IQ Consensus Estimate.

6:27 am Pioneer Energy misses by $0.01, beats on revs (PES) : Reports Q1 (Mar) loss of $0.13 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.12); revenues fell 18.9% year/year to $193.81 mln vs the $183.14 mln consensus.

• First quarter of 2015 Adjusted EBITDA was $36.8 million, down 44% from $66.0 million in the prior quarter and down 42% from $63.3 million in the year-earlier quarter.
• In the second quarter of 2015, drilling rig utilization is expected to average 60% to 63%. Drilling Services Segment margin is expected to be approximately $13,000 to $13,500 per day, which includes recognition of $16.0 million of revenues from rigs earning early termination revenue but not working.Production Services Segment revenue in the second quarter is expected to be down approximately 12% to 15% compared to the first quarter due to the full impact of the reduction in pricing and activity. Production Services Segment margin is expected to be flat to slightly up as compared to the first quarter of 2015 margin of 28%.
• "We estimate that our total cash capital expenditures for 2015 will be $165 million to $180 million. The total 2015 capital expenditure budget includes partial payments for five 1,500 horsepower AC drilling rigs, nine well servicing rigs, eight wireline units, routine capital expenditures and certain drilling equipment which was ordered in 2014 but requires long lead-time orders."
  

6:27 am Huntsman beats by $0.12, misses on revs (HUN) : Reports Q1 (Mar) earnings of $0.40 per share, excluding non-recurring items, $0.12 better than the Capital IQ Consensus Estimate of $0.28; revenues fell 6.0% year/year to $2.59 bln vs the $2.81 bln consensus.

6:26 am Cabot Micro misses by $0.10, misses on revs (CCMP) : Reports Q2 (Mar) earnings of $0.55 per share, $0.10 worse than the Capital IQ Consensus of $0.65; revenues rose 5.4% year/year to $104.9 mln vs the $106.81 mln consensus.

• "Looking ahead, some of our customers and industry reports are calling for softer semiconductor industry conditions during the June quarter compared to the March quarter. Through the first month of our third fiscal quarter we have also seen some softness in demand for our CMP consumables products. However, we are confident that we can continue to successfully manage our business over a range of demand environments, and believe that we are well positioned for the future."
  

6:24 am Talmer Bancorp misses by $0.07, misses on revs (TLMR) : Reports Q1 (Mar) earnings of $0.12 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.19; revenues fell 31.6% year/year to $72.47 mln vs the $73.43 mln consensus.

6:24 am Potash misses by $0.05, reports revs in-line; guides Q2 EPS below consensus; lowers FY15 EPS (midpoint below consensus) (POT) : Reports Q1 (Mar) earnings of $0.44 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.49; revenues fell 0.9% year/year to $1.67 bln vs the $1.68 bln consensus. Potash: First-quarter sales volumes of 2.3 million tonnes were relatively flat with the same period in 2014.

• Co issues downside guidance for Q2, sees EPS of $0.45-0.55 vs. $0.57 Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, lowers EPS to $1.75-2.05 from $1.90-2.20 vs. $2.02 Capital IQ Consensus Estimate. 
• Market Outlook: With China's annual potash contracts now in place and planting underway in the Northern Hemisphere, we expect global shipments to accelerate and market fundamentals to improve in the second quarter. Although volatile currency markets and risks to crop economics have the potential to disrupt demand expectations, we believe underlying consumption needs will support 2015 global potash shipments at the upper end of our previous guidance range of 58-60 million tonnes. 
• Financial Outlook: We have maintained our annual estimate for potash gross margin of $1.5-$1.8 billion and sales volumes of 9.2-9.7 million tonnes....In phosphate, we expect market conditions to support a stronger pricing environment relative to 2014.....Given these considerations, we now forecast our combined nitrogen and phosphate gross margin will be in the range of $1.0-$1.2 billion in 2015.

6:24 am ExlService reports EPS in-line, beats on revs; reaffirms FY15 EPS guidance, guides FY15 revs above consensus (EXLS) : Reports Q1 (Mar) earnings of $0.41 per share, in-line with the Capital IQ Consensus Estimate of $0.41; revenues rose 17.8% year/year to $143.5 mln vs the $135.45 mln consensus.

• Co issues guidance for FY15, sees EPS of $1.85-1.95 vs. $1.92 Capital IQ Consensus Estimate; sees FY15 revs of $600-620 mln vs. $583.23 mln Capital IQ Consensus Estimate.
  

6:23 am Radware beats by $0.01, reports revs in-line (RDWR) : Reports Q1 (Mar) earnings of $0.22 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.21; revenues rose 12.2% year/year to $57.2 mln vs the $57.17 mln consensus. 

• Board of directors has authorized a new share repurchase plan allowing the repurchase of up to $40 million of ordinary shares.
  

6:21 am Chart Industries misses by $0.10, misses on revs; reaffirms FY15 EPS guidance, revs guidance (GTLS) : Reports Q1 (Mar) earnings of $0.19 per share, $0.10 worse than the Capital IQ Consensus Estimate of $0.29; revenues fell 7.9% year/year to $245.1 mln vs the $253.75 mln consensus. Foreign currency loss was $3.1 million for the first quarter of 2015, or $0.07 per diluted share, as the strength of the U.S. dollar had a significant negative impact on our European operations.

•  Co reaffirms guidance for FY15, sees EPS of $1.60-2.10 vs. $1.77 Capital IQ Consensus Estimate; sees FY15 revs of $1.05-1.2 bln vs. $1.11 bln Capital IQ Consensus Estimate.
  

6:19 am Cash America beats by $0.05, misses on revs; guides Q2 EPS below consensus; reaffirms FY15 EPS guidance (CSH) :

• Reports Q1 (Mar) earnings of $0.30 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.25; revenues fell 4.5% year/year to $271.8 mln vs the $281.65 mln consensus. 
  
• Co issues downside guidance for Q2, sees EPS of $0.01-0.05, excluding non-recurring items, vs. $0.08 Capital IQ Consensus Estimate. 
• Co reaffirms guidance for FY15, sees EPS of $0.80-1.10, excluding non-recurring items, vs. $0.97 Capital IQ Consensus Estimate.
  
• "Retail sales of goods within our store locations increased 7% in the first quarter of 2015 compared to the same period in 2014. Domestic pawn loan balances ended the period at $210.1 million at March 31, 2015, compared to $212.9 million during the same period in 2014, which was 1% below the prior year, but evidencing a favorable sequential trend as we started the period down 2% as of December 31, 2014."
  

6:19 am Acorda Therapeutics reports EPS in-line, revs in-line (ACOR) : Reports Q1 (Mar) earnings of $0.15 per share, in-line with the Capital IQ Consensus Estimate of $0.15; revenues rose 24.0% year/year to $99.85 mln vs the $99.65 mln consensus.

• The Company is reiterating 2015 AMPYRA net sales guidance of $405-$420 million, reiterating 2015 R&D guidance of $150-$160 million, and reiterating 2015 SG&A guidance of $180-$190 million
• The U.S. District Court in Delaware, which is adjudicating Abbreviated New Drug Application challenges to certain AMPYRA patents, has scheduled a Markman hearing for March 2016 and set a trial date for September 2016.
  
• Petitions for Inter Partes Review of two AMPYRA patents have been submitted to the United States Patent and Trademark Office (:USPTO). The Company is responding to these filings.
• At March 31, 2015 the Company had cash, cash equivalents and investments of $299.7 million. The Company expects to be cash flow positive in 2015. 

6:18 am Time Warner Cable misses by $0.23, reports revs in-line (TWC) : Reports Q1 (Mar) earnings of $1.65 per share, $0.23 worse than the Capital IQ Consensus Estimate of $1.88; revenues rose 3.4% year/year to $5.77 bln vs the $5.81 bln consensus. 

• First-quarter 2015 revenue grew 3.5% year over year with Business Services revenue up 16.9% and Residential Services revenue up 2.1%, the highest year-over-year organic growth in over 3 years. 
• First-quarter Adjusted OIBDA was $2.0 billion -- up 0.8% year over year. Operating Income of $1.1 billion decreased 0.7% year over year.
  

6:18 am CIGNA beats by $0.11, beats on revs; raises FY15 EPS in-line, reaffirms FY15 revs guidance (CI) : Reports Q1 (Mar) earnings of $1.96 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $1.85; revenues rose 11.4% year/year to $9.47 bln vs the $9.28 bln consensus.

• Co issues guidance for FY15, raises EPS to $8.15-8.50 from $8.00-8.40 vs. $8.47 Capital IQ Consensus Estimate; sees FY15 revs of +8-10% to ~$37.7-38.4 bln vs. $38.09 bln Capital IQ Consensus Estimate. 
• Revenues reflect growth in premiums and fees of 12% in Global Health Care, 8% in Global Supplemental Benefits and 7% in Group Disability and Life, primarily driven by continued growth in Cigna's targeted customer segments.
  

6:16 am Regis misses by $0.05, misses on revs (RGS) : Reports Q3 (Mar) loss of $0.07 per share, $0.05 worse than the Capital IQ Consensus Estimate of ($0.02); revenues fell 3.7% year/year to $454 mln vs the $466.8 mln consensus. 

• Same-store sales decreased 0.7%. Same-store service and product sales decreased 0.7% and 0.9%, respectively.
  

6:15 am Commscope beats by $0.06, reports revs in-line; guides Q2 EPS below consensus, revs below consensus; reaffirms FY15 EPS guidance (COMM) : Reports Q1 (Mar) earnings of $0.42 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.36; revenues fell 11.7% year/year to $825.4 mln vs the $825.66 mln consensus.

• Co issues downside guidance for Q2, sees EPS of $0.45-0.50 vs. $0.49 Capital IQ Consensus Estimate; sees Q2 revs of $850-900 vs. $924.33 mln Capital IQ Consensus Estimate. 
• Co reaffirms guidance for FY15, sees EPS of $1.95-2.05 vs. $2.00 Capital IQ Consensus Estimate.The company believes its previously announced 2015 earnings guidance remains achievable, assuming a near-term return to normal spending patterns by North American wireless carriers.
  
• CommScope has been informed that the Federal Trade Commission and the Antitrust Division of the U.S. Department of Justice have granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the agreement to acquire TE Connectivity's (TEL) Telecom, Enterprise and Wireless businesses. The company is still in the midst of the anti-trust regulatory process in numerous other jurisdictions around the world.
  

6:14 am Xcel Energy misses by $0.04, misses on revs; reaffirms FY15 EPS guidance (XEL) : Reports Q1 (Mar) earnings of $0.46 per share, which exclude an adjustment for a charge related to the Monticello life cycle management/extended power uprate project, $0.04 worse than the Capital IQ Consensus Estimate of $0.50; revenues fell 7.5% year/year to $2.96 bln vs the $3.17 bln consensus.

• The decrease in ongoing earnings was largely attributable to the negative impact of weather. The extreme cold weather experienced in the first quarter of 2014 positively impacted earnings by ~$0.05 per share.

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

• "We increased our dividend 6.7 percent and raised our dividend growth target to 5 percent to 7 percent, reflecting the confidence we have in our business plan and our financial flexibility. Looking ahead, we fully expect to meet our O&M growth target of 2 percent"
  

6:13 am LPL Financial beats by $0.01, misses on revs (LPLA) : Reports Q1 (Mar) earnings of $0.64 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.63; revenues rose 2.0% year/year to $1.11 bln vs the $1.13 bln consensus.

• Co also announced an additional $200.0 million of share repurchase capacity
  

6:11 am ACI Worldwide beats by $0.03, beats on revs; guides FY15 revs in-line (ACIW) : Reports Q1 (Mar) earnings of $0.02 per share, $0.03 better than the Capital IQ Consensus of ($0.01); revenues rose 5.1% year/year to $232.8 mln vs the $229.9 mln consensus.

• Overall sales bookings, including term extensions, increased 23% compared to the prior year quarter. New sales bookings, net of term extensions (SNET), decreased 9% compared to the prior year quarter. We ended Q1 with a 12-month backlog of $889 million and a 60-month backlog of $4.1 billion.

Co issues in-line guidance for FY15, sees FY15 revs of $1.04-1.07 bln from $1.05-1.08 bln vs. $1.06 bln Capital IQ Consensus. This range continues to represent 3-6% organic growth after adjusting for foreign currency fluctuations. We continue to expect adjusted EBITDA to be in a range of $280 to $290 million. 

6:09 am On The Wires (:WIRES) :

• Attorneys from Dallas-based Simon Greenstone Panatier Bartlett, PC, a nationally recognized trial law firm, have won a $13 million jury verdict on behalf of a 73-year-old woman who contracted mesothelioma after using asbestos-containing talcum powder manufactured by New York-based Colgate-Palmolive Company (CL).
• Equinix (EQIX) announced it plans to invest over $97M to build a large-scale data center in Sydney. This new International Business Exchange data center, to be called SY4, will address the growing demand for premium data center services in Australia.
• Allot Communications (ALLT) announced that an APAC wholesale telecommunications and cloud services provider has selected Allot ServiceProtector to secure its managed network services.
• Alibaba's (BABA) Tmall Global announced the launch of a new "World Duty Free" service that allows Chinese tourists to prepay for their duty-free purchases before going on vacation.
• Provectus Biopharmaceuticals (PVCT) announced that the European Society for Medical Oncology has accepted its abstract, "Phase 1 Study of PV-10 for Chemoablation of Hepatocellular Cancer and Cancer Metastatic to the Liver," for poster presentation at the ESMO 17th World Congress on Gastrointestinal Cancer.
• Qumu (QUMU) announced that its cloud video solutions are now being powered by the IBM (IBM) Cloud.

6:08 am Crown Castle REIT announces agreement to acquire Sunesys from Quanta Services (PWR) for $1 bln in cash (CCI) : Sunesys is a fiber services provider that owns or has rights to nearly 10,000 miles of fiber in major metropolitan markets across the United States.

• Crown Castle expects the acquisition to close by the end of 2015 and to be immediately accretive to Adjusted Funds from Operations per share upon closing. The transaction is expected to contribute approximately $80 to $85 million to gross margin with approximately $20 million of general and administrative expenses in the first year of Crown Castle's ownership
  

6:08 am MEDNAX beats by $0.01, reports revs in-line; guides Q2 EPS in-line (MD) : Reports Q1 (Mar) earnings of $0.72 per share, $0.01 better than the Capital IQ Consensus of $0.71; revenues rose 12.9% year/year to $639.4 mln vs the $641.26 mln consensus.

• MEDNAX's revenue growth attributable to recent acquisitions was 11.1 percent, while overall same-unit revenue grew by 1.8 percent when compared to the prior year period. Same-unit growth attributable to patient volume was 2.2 percent for the 2015 first quarter as compared to the prior-year period. Volume growth in the Company's neonatology and other pediatric services, anesthesia and maternal-fetal medicine was partially offset by a decline in pediatric cardiology services. For the 2015 first quarter, compared to the 2014 period, same-unit neonatal intensive care unit (:NICU) patient days were up 1.5 percent.

Co issues in-line guidance for Q2, sees EPS of $0.85-0.89 vs. $0.88 Capital IQ Consensus. This outlook assumes that total same-unit revenue for the three months ended June 30, 2015 will be flat to two percent higher, compared to the prior-year period, including an ~two percent unfavorable impact from the decrease in parity revenue from the 2014 second quarter. Excluding the impact of parity revenue in both periods, a non-GAAP measure, this outlook assumes same-unit revenue growth of two percent to four percent for the three months ended June 30, 2015, compared to the prior-year period. 

6:05 am Mosaic misses by $0.05, misses on revs (MOS) : Reports Q1 (Mar) earnings of $0.70 per share, excluding non-recurring items ($0.10 benefit see below), $0.05 worse than the Capital IQ Consensus Estimate of $0.75; revenues rose 7.7% year/year to $2.14 bln vs the $2.18 bln consensus. 

• Earnings per diluted share were $0.80 in the quarter compared to $0.54 last year. Notable items positively impacted current quarter earnings per share by $0.10. 
• Total sales volumes for the Phosphates segment are expected to range from 2.3 to 2.7 million tonnes for the second quarter of 2015, compared to 2.6 million tonnes last year. Mosaic's realized DAP price, FOB plant, is estimated to range from $425 to $450 per tonne for the second quarter of 2015. The segment gross margin rate in the second quarter is estimated to be around 20 percent and the operating rate is expected to be in the 80 to 85 percent range. 
• Co reaffirms following guidance: Phosphates sales volumes in the range of 9.0 to 10.0 million tonnes. Potash sales volumes in the range of 8.5 to 9.0 million tonnes. International Distribution sales volumes in the range of 6.0 to 7.0 million tonnes.
  

6:03 am Generac misses by $0.14, misses on revs; lowers FY15 guidance (GNRC) : Reports Q1 (Mar) earnings of $0.49 per share, $0.14 worse than the Capital IQ Consensus Estimate of $0.63; revenues fell 8.8% year/year to $311.8 mln vs the $325.07 mln consensus. 

• Net sales for 2015 are now expected to be ~flat YoY from a low to mid single digit increase vs. +3% ests, primarily the result of a power outage severity environment that is expected to remain below normal during the first half of the year, with the assumption of a return to more normalized baseline levels of outage activity during the second half. 
• Adjusted EBITDA for 2015 is also expected to be ~flat as compared to the prior year, resulting in EBITDA margins of ~23.0% for the full year. Free cash flow is expected to remain strong for the full year 2015 due to an attractive margin profile, low cost of debt, favorable tax attributes and capital-efficient operating model.
  

6:02 am New York REIT announces that it expects to file its Form 10-K with an audit report from its new independent registered public accounting firm in the first two weeks of May 2015 (NYRT) :  

6:00 am Enterprise Products and Occidental Petroleum (OXY) to jointly develop a new 150 million cubic feet per day cryogenic natural gas processing plant to accommodate the growing production of natural gas in the Delaware Basin (EPD) : The plant will be owned by Delaware Basin Gas Processing LLC, a company owned 50/50 by Enterprise and Occidental. The plant, which is supported by long-term, firm contracts, is expected to begin operations in mid-2016. Enterprise will serve as the construction manager and operator of the Delaware Basin Processing plant.

• In addition to the processing plant, Enterprise will construct, own and operate a 12-inch diameter pipeline that will transport natural gas liquids from the new facility to one of Enterprise's NGL pipelines, which will provide customers with access to Enterprise's NGL fractionation and storage complex in Mont Belvieu, Texas.
  

6:00 am Radware announces board approval for a new $40 mln share buyback program (RDWR) :  

5:54 am Orbotech announces that CFO Doron Abramovitch has decided to leave the Company in the coming months to pursue other interests (ORBK) : Abramovitch will continue to serve in his role at the Company to support an orderly transition until his successor has been appointed and is fully on board.

5:54 am S&P futures vs fair value: -7.10. Nasdaq futures vs fair value: -22.90. :

5:54 am European Markets : FTSE...6943.26...-3.00...0.00%.  DAX...11396.51...-36.20...-0.30%.

5:54 am Asian Markets : Nikkei...19520.01...-538.90...-2.70%.  Hang Seng...28133...+267.30...-0.90%.

5:52 am Orion Marine misses by $0.01, misses on revs (ORN) : Reports Q1 (Mar) net of breakeven, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.01; revenues rose 0.2% year/year to $81.5 mln vs the $87.41 mln consensus. 

• "During the first quarter, we bid on ~$320 million worth of opportunities and were successful on ~$75 million. This represents a 23% win rate and a book-to-bill ratio of 0.92 times for the quarter. Currently, we have a record $374 million worth of bids outstanding, of which we have been notified that we are the apparent low bidder on ~$37 million."
  

5:36 am Achaogen reaches settlement of its claim with the Defense Threat Reduction Agency; $7.1 mln settlement payable to Achaogen is related to the Company's 2007 contract with DTRA (AKAO) : In November 2012, DTRA terminated the contract for convenience and the settlement follows an audit by the Defense Contract Audit Agency. The net settlement of $7.1 million, together with sums previously received, constitutes complete and final settlement of the contract.

4:57 am ClickSoftware to go private; signs definitive agreement to be acquired by Francisco Partners; shareholders to receive $12.65 per share in all cash transaction (CKSW) : ClickSoftware Technologies announced that it has signed a definitive agreement to be acquired by private funds managed by Francisco Partners Management, a global technology-focused private equity firm, in an all-cash transaction valued at approximately $438 million.

• Under the terms of the agreement, Francisco Partners will acquire all of ClickSoftware's outstanding ordinary shares for $12.65 per share in cash. 
• This represents a premium of approximately 45% over the average closing price of the Company's shares on the Nasdaq Global Select Market during the previous 90 calendar days. 
• The Board of Directors of ClickSoftware unanimously approved the merger agreement and recommends that ClickSoftware's shareholders approve the agreement. 
  

4:55 am UTStarcom wins major contract to support carrier Wi-Fi system in Bangladesh (UTSI) : Co announced that it has been awarded a significant contract to support a major Carrier Wi-Fi system integration for Banglalion Communications, a WiMAX 4G operator in Bangladesh. This partnership further complements UTStarcom's efforts to expand its global footprint and will allow the Company to enter a new growth market.

• As part of the contract, UTStarcom will supply the Carrier Wi-Fi solution to Banglalion Communications within Bangladesh. It will also include the Access Controller, Access Point and EMS management system. 
• UTStarcom will also supply and integrate the Carrier Wi-Fi system equipped with a TD-LTE service and this will enable the operator to unify user and billing management
  

4:05 am Chunghwa Telecom beats by NT$0.12; misses on revs (CHT) : Reports Q1 EPS NT$1.35 vs NT$1.23 Cap IQ consensus; revs increased 2.6% YoY to NT$56.47 bln vs NT$57.24 bln

• Capital Expenditure -- Total Capex for the first quarter of 2015 decreased by 4.1% to NT$5.53 billion, and was comprised of 52.4% domestic fixed communications, 28.7% mobile communications, 16.2% Internet, 1.5% international fixed communications, and 1.2% from others.
  
  

3:36 am On The Wires (:WIRES) :

• Rovi Corporation (ROVI) announced that Grundig has renewed its licensing and product agreement with Rovi. As part of the agreement Grundig will use the latest release of Rovi Guide CE to power enhanced search and recommendations in their LED TVs manufactured in 2015 and distributed across Europe. 
• Brocade (BRCD) announced it is redefining networking for IP storage systems with the industry's first purpose-built storage connectivity portfolio for both data center and disaster recovery applications to help enterprise IT teams manage growth, mitigate risk, and reduce costs. EMC will continue to work to integrate new IP storage technology features to the EMC Connectrix family of network switches and management software.

3:14 am Advanced Semi misses by NT$0.02; beats on revs (ASX) : Reports Q1 EPS NT$0.56 vs NT$0.58 Cap IQ consensus; revs increased 18% YoY to NT$64.66 bln vs NT$64.21 bln consensus

OUTLOOK
Based on our current business outlook and exchange rate assumptions, management projects overall performance for the second quarter of 2015 to be as follows:

• IC ATM production capacity will be up 2%; blended IC ATM utilization should be flat to up 2%
  
• IC ATM gross margin should stay relatively unchanged from the previous quarter
  
• EMS business should reach a level between the results of the last two quarters 
  
• EMS gross margin might be slightly lower than the normalized margin in the previous quarter due to customer supply chain issues
  

3:09 am Paratek Pharma prices 2,860,000 shares of common stock at $24.50 per share (PRTK) :  

2:37 am Methanex misses by $0.16, misses on revs (MEOH) : Reports Q1 (Mar) earnings of $0.23 per share, $0.16 worse than the Capital IQ Consensus Estimate of $0.39; revenues fell 40.4% year/year to $577 mln vs the $620.67 mln consensus.

• Sales volume -- Methanol sales volume excluding commission sales volume was lower in the first quarter of 2015 compared with the fourth quarter of 2014 by 54,000 tonnes and higher compared with the first quarter of 2014 by 7,000 tonnes. Lower methanol sales volume excluding commission sales volume in the first quarter of 2015 compared with the fourth quarter of 2014 decreased Adjusted EBITDA by $8 million. 
• Methanex's average realized price for the first quarter of 2015 was lower compared to the fourth quarter of 2014. Non-discounted posted prices moved lower early in the quarter, pressured primarily by lower oil prices which lowered the affordability for the use of methanol into certain energy applications.
  

2:08 am Echo Global Logistics prices offering of 5,000,000 shares of common stock and upsized offering of $200,000,000 of convertible senior notes (ECHO) : Co announced the pricing of 5,000,000 shares of its common stock at a price of $29.00 per share and $200,000,000 aggregate principal amount of its 2.50% convertible senior notes due 2020 in concurrent underwritten registered public offerings. The Notes offering was upsized from the previously announced $150,000,000 aggregate principal amount of Notes.

2:07 am Westlake Chemical Partners raises Q1 distribution by 2.97% from Q4 (WLKP) : Co announced a distribution of $0.2829 per unit. This distribution represents an increase of 2.87% over the distribution made for the fourth quarter of 2014 which was paid on February 24, 2015. This is the third distribution announced by the Partnership since its successful IPO closing on August 4, 2014. The distribution will be payable on May 27, 2015, to unit holders of record on May 12, 2015.

1:42 am NXP Semi beats by $0.04, reports revs in-line; guides Q2 EPS in-line, revs in-line (NXPI) : Reports Q1 (Mar) earnings of $1.35 per share, $0.04 better than the Capital IQ Consensus Estimate of $1.31; revenues rose 17.7% year/year to $1.47 bln vs the $1.48 bln consensus.

• Non-GAAP Gross margin 48.5%
  

Guidance:
Co issues in-line guidance for Q2, sees EPS of $1.33-1.43 vs. $1.41 Capital IQ Consensus Estimate; sees Q2 revs of $1.49-1.54 bln vs. $1.54 bln Capital IQ Consensus Estimate.

1:05 am Westlake Chemical Partners acquires additional interest in Westlake Chemical OpCo LP and establishes revolving credit facility (WLKP) : Westlake Chemical Partners LP (WLKP) announced that it has acquired approximately 2.7% of additional limited partner interest in Westlake Chemical OpCo LP for approximately $135 million. The transaction, which closed today, is expected to be immediately accretive to Westlake Partners' distributable cash flow. Additionally, Westlake Partners has established a $300 million revolving credit facility with a wholly owned subsidiary of Westlake Chemical (WLK) to fund acquisitions and for general corporate purposes.

• Consideration for the acquisition was funded by a draw on the MLP Revolver. This transaction increases Westlake Partners' limited partner interest in OpCo from approximately 10.6% to approximately 13.3% and represents the first purchase of additional interests in OpCo by Westlake Partners following its initial public offering in August 2014. 
• OpCo's assets are comprised of three ethylene production facilities, which primarily convert ethane into ethylene and have an aggregate annual capacity of approximately 3.4 billion pounds and a 200-mile ethylene pipeline. 
• OpCo sells approximately 95% of its ethylene production to Westlake under a long-term supply agreement, which provides for a stable $0.10 margin per pound. The MLP Revolver entered into today will support Westlake Partners' ability to pursue additional acquisitions. 
• The MLP Revolver is a three-year, $300 million revolving credit facility with LIBOR-based interest rates. 
  

1:00 am On The Wires (:WIRES) :

• MobileIron (MOBL) announced plans to support Windows 10. To help businesses understand the implications and possibilities of Windows 10, MobileIron also launched a set of resources for the enterprise. 
• Epiq Systems (EPIQ) announced that it has been appointed as the first Platinum partner for Intelligent Voice, the leading audio transcription and review platform.

12:59 am Express Scripts announces accelerated share repurchase transaction (ESRX) : Co announced that it has entered into an accelerated share repurchase agreement with Morgan Stanley. Under the terms of the ASR agreement the Company will receive an aggregate initial delivery of approximately 55.1 million shares of the Company's common stock in exchange for a prepayment of $5.5 billion.

12:58 am Freshpet prices 5,313,351 shares of common stock held by certain stockholders at $21.47 per share (FRPT) :  

12:55 am Methanex announces a 10% dividend increase and a new 5% share repurchase program (MEOH) : Co announced that its Board of Directors has approved a 10 percent increase in its quarterly dividend to shareholders, from US$0.25 per share to US$0.275 per share. The increased dividend will apply to the dividend payable on June 30, 2015 to holders of common shares of record on June 16, 2015.

• The Company is also pleased to announce today that its Board of Directors has approved a new normal course issuer bid to commence on May 6, 2015 and end no later than May 5, 2016. Under the new bid, the Company is able to purchase for cancellation over the facilities of the TSX and alternative trading systems in Canada up to 4,554,115 common shares, representing approximately 5% of the 91,082,312 shares issued and outstanding as at April 29, 2015.