5:57 pm AmeriGas Partners misses by $0.36, misses on revs (APU) : Reports Q2 (Mar) earnings of $2.17 per share, $0.36 worse than the Capital IQ Consensus Estimate of $2.53; revenues fell 26.3% year/year to $1.1 bln vs the $1.25 bln consensus.

Outlook: "Given our solid performance this quarter and our expectations for relatively normal weather and business conditions for the remainder of the year, we continue to expect to deliver adjusted EBITDA of $635 million to $665 million for the fiscal year ending September 30, 2015."

5:48 pm UGI Corp beats by $0.05, misses on revs; raises FY15 EPS guidance above consensus (UGI) : Reports Q2 (Mar) earnings of $1.23 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $1.18; revenues fell 22.4% year/year to $2.46 bln vs the $3.14 bln consensus.

• "Results for the second fiscal quarter reflect slightly lower adjusted net income versus the prior year's record level, which was driven by the extreme natural gas price volatility experienced in the winter of 2014."

Co issues upside guidance for FY15, sees EPS of $2.00-2.10, excluding non-recurring items, (raised from $1.88-1.98) vs. $1.91 Capital IQ Consensus Estimate.

5:40 pm American Tower prices offering of senior unsecured notes due 2020 and 2025 (AMT) : Co announced the pricing of its registered public offering of senior unsecured notes due 2020 and 2025, in aggregate principal amounts of $750.0 million and $750.0 million, respectively. The 2020 notes will have an interest rate of 2.800% per annum and are being issued at a price equal to 99.745% of their face value. The 2025 notes will have an interest rate of 4.000% per annum and are being issued at a price equal to 99.228% of their face value.

5:28 pm Hill International misses by $0.04, reports revs in-line; reaffirms FY15 revs guidance (HIL) : Reports Q1 (Mar) earnings of $0.02 per share, $0.04 worse than the Capital IQ Consensus Estimate of $0.06; Consulting fee revenue rose 11.1% year/year to $152.45 mln vs the $153.4 mln consensus.

• The company's total backlog at March 31, 2015 was $1.039 billion compared to $1.080 billion at December 31, 2014. Twelve-month backlog at March 31, 2015 was $445 million compared to $470 million at December 31, 2014.
  

Co reaffirms guidance for FY15, sees FY15 Consulting fee revs of $650-675 mln vs. $652.12 mln Capital IQ Consensus Estimate.

5:15 pm KapStone Paper and Packaging misses by $0.10, misses on revs (KS) : Reports Q1 (Mar) earnings of $0.30 per share, excluding non-recurring items, $0.10 worse than the Capital IQ Consensus Estimate of $0.40; revenues fell 0.5% year/year to $546 mln vs the $570.52 mln consensus.

5:11 pm DaVita reports EPS in-line, beats on revs (DVA) : Reports Q1 (Mar) earnings of $0.86 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.86; revenues rose 8.1% year/year to $3.29 bln vs the $3.24 bln consensus.

Co raises its operating income guidance:

• Co updates its consolidated operating income for 2015 to now be in the range of $1.800-1.925 billion. Co's previous consolidated operating income guidance for 2015 was in the range of $1.750-1.900 billion.

In a separate news release, the co announced the next step in an agreement in principle for a settlement in an Atlanta-based case, which previously was announced on April 15. The lawsuit was brought by private attorneys regarding allegations of medication wastage from 2003 to 2010.

"We should be held to high standards of accountability," said Javier Rodriguez, CEO of DaVita Kidney Care. "Our 67,000 teammates across 11 countries look forward to putting this behind us. We can now renew our focus on collaborating with regulators to avoid situations like this going forward."

"Although we believe strongly in the merits of our case, we decided it was in our stakeholders' best interests to resolve it," said Chief Legal Officer for DaVita HealthCare Partners Kim Rivera. "The potential mandatory penalties for being found in the wrong in even a small percentage of instances were simply too large. Our current compliance program is already much more comprehensive than what we had five to 10 years ago," said Chief Compliance Officer for DaVita HealthCare Partners Jeanine Jiganti. "We will use this experience to take our effectiveness to a whole new level going forward."

5:10 pm Mid-Con Energy Partners misses by $0.15, misses on revs (MCEP) : Reports Q1 (Mar) loss of $0.14 per share, $0.15 worse than the Capital IQ Consensus Estimate of $0.01; revenues fell 3.0% year/year to $19.2 mln vs the $21.6 mln consensus.

• Production averaged 4,578 Boe/d, an increase of 14.1% sequentially and 74.6% year-over-year.
  
  
• Distributable Cash Flow, a non-GAAP measure, was $3.2 million, down 76.3% sequentially and 68.3% year-over-year.
  
  
• Declared a cash distribution for the quarter ended March 31, 2015, of $0.125 per unit, or $0.50 per unit annualized. The distribution will be paid May 14, 2015, to unitholders of record at the close of business on May 7, 2015.

5:09 pm Magna and Chongqing Xingqiaorui have agreed to form a strategic joint venture in China (MGA) : Under the terms of the agreement, Cosma International, Magna's body and chassis operating unit, will hold a 53% stake in the JV, while Xingqiaorui will hold the remaining 47%. The transaction is expected to close in late 2015 or early 2016, subject to regulatory approvals.

5:08 pm Sturm Ruger beats by $0.13, beats on revs (RGR) : Reports Q1 (Mar) earnings of $0.81 per share, $0.13 better than the Capital IQ Consensus Estimate of $0.68; revenues fell 19.4% year/year to $137 mln vs the $117.47 mln consensus. Demand for the Company's firearms in the first quarter of 2015 increased from the fourth quarter of 2014 due to the successful annual sales promotions in effect during the first quarter of 2015, coupled with a reduction in the aggressive price discounting by many of our competitors that was prevalent in the latter half of 2014.

5:08 pm Align Tech has entered into a stock repurchase plan under which it will repurchase up to $30 mln of its common stock (ALGN) : This stock repurchase plan is in addition to, and will become effective upon, the completion of the company's $70 million accelerated stock repurchase plan announced on April 28, 2015. This stock repurchase plan together with the accelerated stock repurchase plan was authorized as part of the Company's three-year $300 million stock repurchase program announced April 23, 2014.

5:06 pm Murphy USA beats by $0.01 (MUSA) : Reports Q1 (Mar) earnings of $0.50 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.49; revenues fell 28.6% year/year to $3 bln which may not be comparable to the $3.94 bln Capital IQ consensus. Average retail fuel prices for the first quarter 2015 (including taxes) were $2.10 per gallon versus $3.23 per gallon in the same period of 2014.

5:06 pm Coeur d'Alene Mines beats by $0.02, beats on revs (CDE) : Reports Q1 (Mar) loss of $0.24 per share, $0.02 better than the Capital IQ Consensus Estimate of ($0.26); revenues fell 4.1% year/year to $153 mln vs the $148.1 mln consensus.

• Coeur is maintaining its 2015 production guidance of 14.8 - 16.0 million silver ounces and 294,000 - 323,000 gold ounces and is also maintaining its guidance for all-in sustaining costs per silver equivalent ounce of $17.50 - $18.50 and costs applicable to sales
  
• Coeur is raising its guidance for capital expenditures to $95 - $105 million compared to prior guidance of $85 - $95 million as well as its guidance for exploration expenses to $13 - $16 million from $10 - $12 million for 2015. Prior guidance did not include development capital and exploration expenses related to the acquisition of Paramount Gold and Silver Corp.
  

5:04 pm Pacific Drilling beats by $0.06, reports revs in-line (PACD) : Reports Q1 (Mar) GAAP earnings of $0.24 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.18; revenues rose 25.6% year/year to $283.4 mln vs the $281.7 mln consensus.

• "We continue to experience a very weak market, but are pleased to have the highest-quality contract portfolio in the industry. The market for offshore rigs continues to develop as we anticipated, with clients increasingly focused on the capabilities and efficiencies of the rigs in their contracted fleets. In this regard, clients are more and more discerning about both the quality of the asset and the drilling service delivered, and we believe our high-specification fleet and focus on the client relationship will provide a competitive advantage."
• "We expect industry-wide contracting activity in the remainder of 2015 to be limited, but provided oil prices continue to rebound, exploration drilling picks up, and industry rationalization of supply does not falter, we should begin to see market improvement."
  

5:03 pm Sun Hydraulics misses by $0.02, misses on revs; guides Q2 below consensus (SNHY) :

• Reports Q1 (Mar) earnings of $0.39 per share, $0.02 worse than the Capital IQ Consensus Estimate of $0.41; revenues fell 4.2% year/year to $54.4 mln vs the $55.32 mln consensus. 
  
• Co issues downside guidance for Q2, sees EPS of $0.34-0.36 vs. $0.48 Capital IQ Consensus Estimate; sees Q2 revs of $54 mln vs. $60.98 mln Capital IQ Consensus Estimate. 
  
• "Strengthening of the U.S. Dollar challenged our first quarter results, reducing sales by $1.5M over last year and shrinking gross profit from 42% to 39%... While we're encouraged that the U.S. PMI continues to operate in positive territory, our second quarter forecast reflects a softening in demand..."
  

5:03 pm EarthLink beats by $0.08, beats on revs (ELNK) : Reports Q1 (Mar) GAAP loss of $0.10 per share, $0.08 better than the Capital IQ Consensus of ($0.18); revenues fell 5.0% year/year to $282.4 mln vs the $271.24 mln consensus.

• Business Services revenue decreased 3.3% from the first quarter of 2014, an improvement versus the 4.2% year-over-year decline reported in the fourth quarter of 2014.
• Business Services and total company revenue during the first quarter of 2015 were aided by seasonal pricing actions implemented during the quarter and a $2.1 million favorable settlement.
  

5:02 pm Peabody Energy announces that Glenn Kellow has been elected to the role of President and CEO (BTU) : Kellow joined Peabody as President and Chief Operating Officer in September 2013, and was named CEO-Elect and added to the board of directors in January 2015. He succeeds Gregory H. Boyce, who remains as Executive Chairman.

5:01 pm GrafTech Intl confirms it entered into an investment agreement with Brookfield Asset Management (BAM) for $150 mln preferred equity investment (GTI) : Co confirmed it has entered into an investment agreement with an affiliate of Brookfield Asset Management (BAM) under which Brookfield will acquire $150 million of 7% convertible preferred shares of GrafTech in a private offering. The investment agreement follows the letter of intent announced by GrafTech on April 29, 2015. As previously announced, the GrafTech Board unanimously approved a separate letter of intent for a possible tender offer by Brookfield to acquire outstanding shares of GrafTech common stock. GrafTech and Brookfield continue to negotiate terms for a definitive agreement regarding a potential tender offer.

5:01 pm Marketaxess announces April, 2015 volume metrics; reports total monthly trading volume of $79.3 bln (MKTX) : Co reported total monthly trading volume for April 2015 of $79.3 billion, consisting of $45.8 billion in U.S. high-grade volume, $26.8 billion in other credit volume, and $6.7 billion in liquid products volume.

5:00 pm Helix Energy announces delivery of Q5000 and drawdown of $250 mln credit facility (HLX) : The co announced that on April 30th its wholly owned subsidiary, Helix Q5000 Holdings S.A.R.L., took delivery of the Q5000 semisubmersible well intervention vessel from Sembcorp Marine's Jurong Shipyard. In conjunction with delivery of the vessel, Helix Q5000 Holdings S.A.R.L. used proceeds of the previously announced $250 million Q5000 credit facility to make the final shipyard payment. The remaining cash balance of the facility, approximately $148 million, will be used for general corporate and working capital needs.

4:54 pm Enterprise Products prices its $2.5 bln senior secured notes offering (EPD) : Co has priced a public offering of $2.5 billion of senior unsecured notes comprised of $750 million due May 7, 2018, $875 million due February 15, 2026, and $875 million due May 15, 2046 .

• It expects to use the net proceeds of this offering for the repayment of debt, including the repayment of amounts outstanding under our commercial paper program  and the repayment of amounts outstanding on the maturity of EPO's $400 million principal amount of Senior Notes X due June 2015, and for general company purposes
  
• The $750 million due May 7, 2018 will be issued at 99.881% of par, with a coupon of 1.65%
• The $875 million due February 15, 2026 will be issued at 99.635 % of par, with a coupon of 3.70% and
  
• The 875 million due May 15, 2046 will be issued at 99.635 of par with a coupon of 4.90%

4:52 pm Bank Mutual increases quarterly dividend 25% to $0.05 from $0.04 per share (BKMU) :  

4:51 pm Rosetta Resources misses by $0.06, misses on revs (ROSE) : Reports Q1 (Mar) loss of $0.13 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus Estimate of ($0.07); revenues fell 19.3% year/year to $173.14 mln vs the $196.99 mln consensus.

• Production for the quarter averaged 66 thousand barrels of oil equivalent per day ("MBoe/d"), an increase of 21 percent from the same period in 2014 and toward the high end of the 64 - 67 MBoe/d first quarter 2015 guidance range. 
• The decline in production volumes from the 73 MBoe/d in the fourth quarter 2014 is attributable to the Company's election to manage completion activity to preserve future value given the current commodity price down cycle.
• Oil production in the first quarter averaged 18 thousand barrels per day, an increase of 14 percent from 2014. Natural gas liquids daily production also increased by 20 percent compared to the prior year first quarter.
  

4:47 pm Haverty Furniture beats by $0.01, rev in-line with preannouncement; updates Q2 metrics; reaffirms margin guidance (HVT) : Reports Q1 (Mar) earnings of $0.27 per share, $0.01 better than the Capital IQ Consensus of $0.26; revenues rose 5.3% year/year to $191.3 mln vs the $194.46 mln consensus. 

• Preannoucned rev $191.3 mln vs. $194.5 mln consensus on April 7.
• Comparable store sales increased 3.8% over the same period last year. 
• Total written sales for the second quarter to date of 2015 are up ~3.4% over the same period last year and written comparable store sales are up ~ 1.5%. Total delivered sales for the second quarter to date of 2015 are up ~4.6% over the same period last year and comparable store sales are up 3.0%. 
• Previous guidance on gross profit margins for the full year 2015 is unchanged at 53.3%.
  

4:46 pm NovaGold Resources pays remaining $15.8 mln principal balance of its 5.5% convertible notes on May 1, 2015 (NG) : Interest in the amount of $0.4 million was also paid on May 1, 2015. With $135.5 million in cash and term deposits after payment of the convertible notes principal and interest on May 1, 2015, the co believes it has sufficient capital to complete the permitting of the Donlin Gold project, conduct planned studies on its 50%-owned Galore Creek project and have ample financial resources to continue with existing activities for many years should gold prices remain at current levels.

4:42 pm Notable after hours earnings movers: ATEN +17.8%, NLS +14.2%, CHUY +8.4%, ACRX -31.4%, QLYS -27.6%, ONDK -9.6% (:SCANX) : Companies trading higher after hours following earnings/guidance:

ATEN +17.8%, NLS +14.2%, CHUY +8.4%, AEGR +4.8%, DENN +3.2%, TCPI +3.7%, ININ +3.7%, CTT +3.1%, ECOM +2.8%, THC +1.8%, XPO +1.7%

Companies trading lower after hours following earnings/guidance:

ACRX -31.4%, QLYS -27.6%, ONDK -9.6%, INVN -6.4%, CAR -3.1%, MIC -2.3%, PTCT -2.2%, APC -0.8%, ADEP -0.7%, FCE.A -0.4%, EOG -0.4%

4:39 pm Pinnacle Foods announces a secondary offering of 5 mln shares of common stock by entities affiliated with Blackstone (BX) (PF) : The co. announced that certain of its stockholders, which are entities affiliated with Blackstone, intend to offer for sale in an underwritten secondary offering 5,000,000 shares of the Company's common stock. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by the Company

4:36 pm Capnia reports Q1 results (CAPN) : The co reported a net loss of $11.7 mln, or ($1.67) per share vs. a loss of $0.8 mln, or ($1.56) per share in Q1 of 2014. The company reported revenues of $22,000 vs. zero prevenue in the year earlier period

• Cash, cash equivalents, and marketable securities at March 31, 2015 totaled $9.5 million. This compared to $8.0 million at December 31, 2014.
• In the first quarter, an agreement between Capnia and Clinvest was executed, in which Clinvest will conduct an investigator-initiated trial to evaluate the safety and efficacy of nasal CO₂ for the treatment of episodic cluster headache in 25 subjects. The Company expects to initiate this study in the second quarter of 2015. 

4:36 pm Freightcar America misses by $0.48, misses big on revs, cites a series of production line changeovers and inefficiencies primarily at its Shoals facility; Stock halted, set to resume trading at 17:00ET (RAIL) : Reports Q1 (Mar) loss of $0.17 per share, $0.48 worse than the Capital IQ Consensus Estimate of $0.31; revenues rose 65.5% year/year to $92.8 mln vs the $190.93 mln consensus.

• "Our [Q1] results were adversely affected by a series of production line changeovers and inefficiencies, primarily at our Shoals facility, as well as weather disruptions."
• "These factors negatively impacted our revenues and profitability. We are aggressively addressing the production inefficiencies, while continuing the production line expansion at the Shoals facility."
• "For the full year, we continue to anticipate deliveries in the 9,000 to 10,000 railcar range."

4:35 pm Emerald Oil misses by $0.04 (EOX) : Reports Q1 (Mar) loss of $0.07 per share, $0.04 worse than the Capital IQ Consensus Estimate of ($0.03). 

• First quarter production of 424,318 BOE increased 88% as compared to 225,905 BOE in the first quarter of 2014. Daily production averaged 4,715 BOEPD, 14% above the midpoint and 10% above the high end of Emerald's first quarter 2015 guidance range.
  

4:35 pm Interactive Intelligence beats by $0.07, beats on revs (ININ) :

• Reports Q1 (Mar) loss of $0.04 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of ($0.11); revenues rose 12.7% year/year to $89.5 mln vs the $88.01 mln consensus. 
  
• "We hit our marks in the first quarter and expect to continue doing so for the year. In addition to steady growth in revenues from our cloud solutions, we saw improved efficiencies in our cloud delivery operations, increased sales to new customers, growth in the number of large transactions, healthy expansion sales, and an up-tick in orders for our on-premises technology. The launch in March of our new PureCloud Collaborate? offering was enthusiastically received. We are proceeding with additional rollouts that extend this new PureCloud" multitenant platform as capabilities for unified communications and customer engagement are set for release in the next ninety days. Based on the large and growing pipeline of opportunities globally, we are reaffirming our guidance for contracted annual recurring revenue growth of 40 percent for 2015..."
  

4:34 pm Douglas Dynamics beats by $0.11, beats on revs; reaffirms FY15 EPS guidance, revs guidance (PLOW) : Reports Q1 (Mar) earnings of $0.01 per share, $0.11 better than the Capital IQ Consensus Estimate of ($0.10); revenues rose 48.1% year/year to $53.9 mln vs the $44.67 mln consensus.

• Guidance: Co reaffirms guidance for FY15, sees EPS of $0.80-$1.45 vs. $1.25 Capital IQ Consensus Estimate; sees FY15 revs of $320-$380 mln vs. $343.70 mln Capital IQ Consensus Estimate.
  
  
• Commentary: "The recent acquisition of Henderson provided a significant boost to our results. I'm pleased to report that Henderson performed in line with our expectations and has a very healthy backlog of business. We have been working closely with the team to identify opportunities to incorporate our proprietary Douglas Dynamics Management System, or DDMS, into specific operational initiatives. The integration of the business is progressing well, and while we are early in the process, the initial results are positive and Henderson is on track to achieve its 13th straight year of consecutive revenue growth."

4:34 pm Concho Resources misses by $0.17, misses on revs (CXO) : Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.17 worse than the Capital IQ Consensus Estimate of $0.23; revenues fell 37.4% year/year to $413.52 mln vs the $502.22 mln consensus. 

• Co expects Q2 production to average between 138-142 MBoepd. 
• FY15 Production Growth expected to be 18-22% (Prior 16-20%). 
• Sees FY15 CapEx in the range of $1.8-2.0 bln (Prior $2.0 bln)
  

4:33 pm Emerald Oil misses by $0.04, misses on revs (EOX) : Reports Q1 (Mar) loss of $0.07 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of ($0.03); revenues fell 19.1% year/year to $14.8 mln vs the $18.96 mln consensus.

• First quarter production of 424,318 BOE increased 88% as compared to 225,905 BOE in Q1 of 2014. Daily production averaged 4,715 BOEPD, 14% above the midpoint and 10% above the high end of Emerald's Q1 2015 guidance range.

Hedging update:

• Recently initiated 2015 crude oil floors at $55.00 for 4,000 Bbl/d and 2016 crude oil floors at $60.00 for 3,000 Bbl/d while retaining all upside to future crude oil price increases
  

Update to Revolving Credit Facility and Hedging Activity

• Emerald's lending syndicate approved an amendment to the Co's senior secured credit facility. The amendment includes a new senior secured debt to EBITDA covenant of 2.5x, and an expanded total debt to EBITDA covenant of 5.0x through June 30, 2016, and 5.5x for the remainder of 2016. Additionally, as part of the semi-annual borrowing base redetermination, the banks approved a $200 million borrowing base. 
  

4:33 pm Post Properties reports FFO in-line, revs in-line (PPS) : Reports Q1 (Mar) funds from operations of $0.70 per share, in-line with the Capital IQ Consensus of $0.70; revenues fell 0.1% year/year to $93.4 mln vs the $92.73 mln consensus. 

• Total revenues at the Company's 50 same store communities, containing 18,780 apartment units, increased 2.4% and total operating expenses increased 4.3% during the first quarter of 2015, compared to the first quarter of 2014, producing a 1.2% increase in same store net operating income ("NOI").
  

4:31 pm Herbalife announces amendment to extend credit facility (HLF) : Co announced the closing of the third amendment of its existing syndicated credit agreement, dated as of March 9, 2011, with Bank of America Merrill Lynch as Administrative Agent.

• As of March 31, 2015, the company had $500 million drawn on its revolving credit facility and a $325 million balance on its term loan. The amendment restates the existing credit agreement to, among other things, extend the maturity of $425 million of the revolving credit facility from March 9, 2016 until March 9, 2017. No changes were made to the maturity date of the company's term loan, which will mature on March 9, 2016. 
• Among other conditions, the company will make principal payments of approximately $51 million on the revolving credit facility and $20 million on the term loan upon closing of the amendment, and stepdown the balance of the revolving credit facility to $425 million with an additional payment in September 2015.
  

4:31 pm Cognex announces a reinstatement of its quarterly dividend to $0.07/share (CGNX) :  

4:28 pm Endurance Specialty beats by $0.55 (ENH) : Reports Q1 (Mar) operating income from operations of $2.03 per share, $0.55 better than the Capital IQ Consensus Estimate of $1.48; gross premiums written rose 12.4%, while net premium written fell 4.2%.

4:27 pm Verisk Analytics announces a proposed $675 mln offering of common stock (VRSK) : Company intends to use the net proceeds of the offering, together with the net proceeds of an offering of debt in the form of notes and borrowings under its revolving credit facility and cash on hand, to finance the acquisition of Wood Mackenzie Limited.

4:26 pm XPO Logistics beats by $0.13, misses on revs; Updates Outlook, announces Acquire Bridge Transport (XPO) : Reports Q1 (Mar) loss of $0.13 per share, $0.13 better than the Capital IQ Consensus Estimate of ($0.26); revenues rose 148.9% year/year to $703 mln vs the $798.2 mln consensus. 

• In light of XPO's previously announced agreement to acquire Norbert Dentressangle SA, and its agreement to acquire Bridge Terminal Transport Services, Inc., the company has raised its 2015 targets to an annual revenue run rate of at least $9.5 billion and an annual EBITDA run rate of at least $625 million by December 31. 

Agrees to Acquire Bridge Terminal Transport 

• On May 4, 2015, XPO entered into a definitive agreement to acquire Bridge Terminal Transport Services, Inc. , a drayage provider in the United States. The transaction is expected to close in the second quarter of 2015. The transaction is expected to be immediately accretive to earnings before the benefits of cross-selling and other synergies. XPO intends to rebrand and integrate BTT with XPO Logistics. The purchase price is $100 million, excluding any working capital adjustments, with no assumption of debt. BTT had revenue of $232.0 million for the trailing 12 months ended March 31, 2015. The purchase price represents a consideration of 8.1 times EBITDA of $12.4 million for the same 12-month period.
  

4:26 pm CHC Group announces appointment of Lee Eckert as successor CFO, effective July 16, 2015 (HELI) : The co. announced that Lee Eckert will be succeeding Joan Hooper as Chief Financial Officer effective July 16, 2015. Mr. Eckert was most recently CFO of the $13 billion in sales U.S. division of National Grid Plc. Ms. Hooper will continue in her present role until the announcement of CHC's fiscal-2015 fourth quarter results in July

4:23 pm IMS Health Holdings announces a proposed secondary offering of 45.8 mln shares of common stock by several existing shareholders; co intends to repurchase $300 mln of shares offered for sale (IMS) : Co announced the launch of a secondary public offering of 45.8 million shares of its common stock by existing shareholders affiliated with TPG Global,  Canada Pension Plan Investment Board and Leonard Green & Partners, of which IMS Health intends to repurchase a number of shares having an aggregate value of $300 million

4:22 pm NIC Inc misses by $0.01, reports revs in-line (EGOV) : Reports Q1 (Mar) earnings of $0.14 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.15; revenues rose 7.6% year/year to $70.4 mln vs the $70.7 mln consensus.

4:20 pm Avis Budget beats by $0.03, misses on revs; guides FY15 EPS in-line, reaffirms FY15 revs guidance (CAR) : Reports Q1 (Mar) earnings of $0.17 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.14; revenues fell 0.6% year/year to $1.85 bln vs the $1.91 bln consensus. Co issues mixed guidance for FY15, sees EPS of $3.15-3.75, excluding non-recurring items, vs. $3.51 Capital IQ Consensus Estimate; sees FY15 revs of approx $8.8 bln vs. $8.8 bln Capital IQ Consensus Estimate. 

2015 Outlook

• Rental days are expected to increase 5% to 7%, and pricing is expected to increase 1% to 2% in constant currency in 2015. 
• Movements in currency exchange rates are negatively impacting revenue growth by approximately six points, and the Company's forecast now includes Maggiore's results from the date of acquisition. 
• Per-unit fleet costs in its Americas segment will be approximately $310 to $320 per month in 2015, compared to $310 in 2014. Total Company per-unit fleet costs are expected to be $290 to $300 per month in 2015, compared to $305 in 2014, with the decrease principally attributable to movements in currency exchange rates.
  

4:19 pm Dun & Bradstreet beats by $0.09, misses on revs (DNB) : Reports Q1 (Mar) earnings of $1.33 per share, $0.09 better than the Capital IQ Consensus Estimate of $1.24; revenues fell 1.5% year/year to $376 mln vs the $382.47 mln consensus. 

• Co reaffirmed its underlying financial guidance, before taking into account the acquisition of Dun & Bradstreet Credibility Corp., for the full year 2015: 
• As Adjusted revenue growth 2% to 5%, before the effect of foreign exchange; 
• As Adjusted operating income of (2%) to 2%; As Adjusted diluted EPS of (3%) to 1%; 
• Free cash flow of $255 million to $285 million 

4:18 pm STAG Industrial misses by $0.01, beats on revs (STAG) : Reports Q1 (Mar) funds from operations of $0.35 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.36; revenues rose 28.5% year/year to $51 mln vs the $49.52 mln consensus.

• Inclusive of contracts executed but not yet closed, the Company has closed or committed to close a total of $257 million of acquisitions year-to-date. This represents over 50% of the Company's targeted acquisitions volume.
• The Company targets 25% annual growth in its portfolio which equates to $450 million for 2015.
  

4:18 pm Sunstone Hotel beats by $0.04, beats on revs; guides Q2 FFO in-line; raises low end FY15 FFO guidance (SHO) : Reports Q1 (Mar) adjusted funds from operations of $0.22 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.18; revenues rose 14.9% year/year to $284.39 mln vs the $269.62 mln consensus.

• Adjusted Comparable Hotel RevPAR increased 7.0% to $150.12 mln
• Adjusted Comparable Hotel EBITDA Margins increased 220 basis points to 26.2%
  

Co issues in-line guidance for Q2, sees adjusted FFO of $0.40-0.42 vs. $0.41 Capital IQ Consensus Estimate. Sees Q2 Comparable Hotel RevPAR Growth of 6.0-7.5%

Co issues in-line guidance for FY15, sees adjusted FFO of $1.26-1.32 (low end raised from $1.22-1.32) vs. $1.27 Capital IQ Consensus Estimate. Reaffirms guidance for FY15 Comparable Hotel RevPAR Growth of 5.0-7.0%.

4:18 pm Imprivata reports EPS in-line, beats on revs; guides Q2 EPS below consensus, revs in-line; guides FY15 EPS below consensus, revs above consensus (IMPR) : Reports Q1 (Mar) loss of $0.28 per share, in-line with the Capital IQ Consensus Estimate of ($0.28); revenues rose 32.0% year/year to $25.6 mln vs the $24.54 mln consensus.

• Guidance: Co issues mixed guidance for Q2, sees EPS of ($0.22)-($0.20) vs. ($0.13) Capital IQ Consensus Estimate; sees Q2 revs of $28.5-$29.5 mln vs. $29.30 mln Capital IQ Consensus Estimate.
  
  Co issues mixed guidance for FY15, sees EPS of ($0.59)-($0.52) vs. ($0.44) Capital IQ Consensus Estimate; sees FY15 revs of $123.5-$126.0 mln vs. $121.79 mln Capital IQ Consensus Estimate.
  

4:17 pm EOG Resources beats by $0.03, misses on revs; reaffirms cap-ex (EOG) : Reports Q1 (Mar) adj. earnings of $0.03 per share, $0.03 better than the Capital IQ Consensus of ($0.00); revenues fell 43.2% year/year to $2.32 bln vs the $2.55 bln consensus. 

• Remains on Track to achieve 40 percent year-over-year capital expenditure decrease 
• Directs 85 percent of capital to high-return eagle ford, delaware basin and bakken plays 
• Reduces well costs below 2015 plan levels 
• If prices continue to improve, EOG will begin to increase well completions in the third quarter. This will produce a "U" shaped production profile in 2015. Second and third quarter production will be the low point for the year. Fourth quarter growth will build momentum heading into 2016. If oil prices recover and stabilize at the $65 level, EOG is prepared to resume strong double-digit oil growth in 2016 with balanced capital spending and discretionary cash flow.
  

4:17 pm Fabrinet beats by $0.01, beats on revs; guides Q4 EPS in-line, revs above consensus (FN) : Reports Q3 (Mar) adj earnings of $0.36 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.35; revenues rose 12.9% year/year to $189.4 mln vs the $184.85 mln consensus.

• Co issues guidance for Q4, sees adj EPS of $0.37-0.39 vs. $0.37 Capital IQ Consensus Estimate; sees Q4 revs of $195-199 mln vs. $188.47 mln Capital IQ Consensus Estimate.
  

4:16 pm Auris Medical announces proposed public offering of 6 mln common shares (EARS) :

• Leerink Partners LLC is acting as sole book-running manager, JMP Securities LLC and Needham & Company, LLC are acting as lead managers and LifeSci Capital LLC is acting as co-manager in the proposed offering.
  

4:16 pm MKS Instruments announces an increased in its quarterly cash dividend to $0.17/share from $0.165/share (MKSI) :  

4:16 pm Forest City Enterprises announces an offering of 32.5 mln shares of common stock, to finance the acquisition of a 49% equity interest owned by Health Care REIT (HCN) (FCE.A) : Co plans to offer 32.5 million newly issued shares of Class A common stock in an underwritten public offering.

• Co intends to use up to $400 million of the net proceeds to finance its previously announced acquisition of the 49 percent equity interest of Health Care REIT, Inc. (HCN) in seven life-science office buildings and two parking facilities at University Park at MIT in Cambridge, Massachusetts. 
• It further intends to use remaining net proceeds to pay off or otherwise reduce debt and for general corporate purposes.

4:15 pm Allied World Assurance increases annual dividend to $1.04 from $0.90/share (AWH) :  

4:15 pm Chatham Lodging announces appointment of Dennis Craven to COO; Jeremy Wegner joins company as CFO (CLDT) : Prior to joining Chatham, Wegner served as Vice President of mergers and acquisitions for Starwood Hotels & Resorts Worldwide where he was responsible for identifying and executing merger, acquisition, and divestiture opportunities. Craven was previously the CFO of CLDT.

4:15 pm Stone Energy misses by $0.05, misses on revs (SGY) : Reports Q1 (Mar) loss of $0.23 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of ($0.18); revenues fell 31.4% year/year to $153.5 mln vs the $167.43 mln consensus. 

• Net daily production during the first quarter of 2015 averaged 46 thousand barrels of oil equivalent (MBoe) per day (278 million cubic feet of gas equivalent (MMcfe) per day), compared with net daily production of 42 MBoe (255 MMcfe) per day in the fourth quarter of 2014, and net daily production of 45 MBoe (269 MMcfe) per day in the first quarter of 2014. 
• Co sees Q2 production of MBoe Per Day of 41-43; FY15 of 39-43
  

4:14 pm Parkway Prop beats by $0.01, beats on revs; guides FY15 FFO in-line (PKY) : Reports Q1 (Mar) funds from operations of $0.34 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.33; revenues rose 15.0% year/year to $119.68 mln vs the $117.95 mln consensus.

• Co issues in-line guidance for FY15, sees FFO of $1.34-1.40 vs. $1.39 Capital IQ Consensus Estimate.

4:14 pm ChannelAdvisor names David Spitz CEO and Scot Wingo Executive Chairman effective today (ECOM) :  

4:14 pm Luminex beats by $0.10, beats on revs; guides Q2 & FY15 revs in-line (LMNX) : Reports Q1 (Mar) earnings of $0.23 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.13; revenues rose 2.1% year/year to $57.74 mln vs the $56.3 mln consensus.

• Co issues in-line guidance for Q2, sees Q2 revs of $56-58 mln vs. $56.04 mln Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, sees FY15 revs of $230-236 mln vs. $231.59 mln Capital IQ Consensus Estimate.
  

4:14 pm PTC Therapeutics beats by $0.02, beats on revs (PTCT) : Reports Q1 (Mar) loss of $1.15 per share, $0.02 better than the Capital IQ Consensus Estimate of ($1.17); revenues fell 18.5% year/year to $7.5 mln vs the $2.97 mln consensus. including $5.1 million in Translarna product sales revenue and $2.4 million in grants and collaborations revenue.

• "We are off to a strong start this year. In our first full quarter since the commercial launch, we have seen strong support for access to Translarna, the first treatment for nonsense mutation Duchene Muscular Dystrophy. We now have 82 patients on commercial therapy, nearly double the number on treatment since our last earnings call,"
  

4:14 pm Advanced Energy beats by $0.14, reports revs in-line; guides Q2 EPS below consensus, revs below consensus (AEIS) : Reports Q1 (Mar) earnings of $0.57 per share, excluding non-recurring items, $0.14 better than the Capital IQ Consensus Estimate of $0.43; revenues rose 0.1% year/year to $141.11 mln vs the $142.03 mln consensus. Co issues downside guidance for Q2, sees EPS of $0.38-0.41, excluding non-recurring items, vs. $0.41 Capital IQ Consensus Estimate; sees Q2 revs of $126-136 mln vs. $145.37 mln Capital IQ Consensus Estimate.

4:14 pm Forest City Enterprises provides update on REIT conversion and financial targets (FCE.A) : "Since January 13, 2015, when we announced the board's approval of our plan to convert to REIT status, we have made meaningful progress. Our teams are focused on the key tasks that are part of this process, and we remain on track to elect REIT status for our taxable year beginning January 1, 2016."

• "We are targeting net proceeds from the sale of various non-core assets in the range of $600 million to $650 million over time."
• "We plan to reinstate a quarterly dividend shortly following REIT conversion. In connection with REIT conversion, we expect to distribute our cumulative earnings and profits (E&P) to shareholders. At the end of 2014, our estimated E&P was between $30 million and $60 million. The exact amount of any distribution will depend on a number of factors, notably the completion of anticipated asset sales. We currently estimate the distribution to be in range of $150 million to $350 million in aggregate, and our current intention is to pay the E&P distribution 80 percent in stock and 20 percent in cash. 
  

4:12 pm Hemisphere Media announces secondary public offering of 3,195,583 shares of its Class A common stock being sold by certain stockholders (HMTV) :  

4:12 pm Benefitfocus announced the signing of a reseller agreement with SAP (SAP) (BNFT) : SAP (SAP) will resell BENEFITFOCUS Marketplace as the SAP U.S. Benefits Management application by Benefitfocus.

4:12 pm Integrated Device beats by $0.03, reports revs in-line; announces increased share repurchase program (IDTI) : Reports Q4 (Mar) earnings of $0.29 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.26; revenues rose 33.6% year/year to $158.4 mln vs the $157.9 mln consensus.

• "Additionally, our board recently increased our share repurchase authorization to $300 million. This replaces the prior authorization, which had a remaining balance of $27 million at the end of fiscal Q4."

4:11 pm ChannelAdvisor beats by $0.11, beats on revs; guides Q2 revs below consensus; guides FY15 revs in-line (ECOM) : Reports Q1 (Mar) loss of $0.24 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of ($0.35); revenues rose 17.1% year/year to $22.6 mln vs the $21.61 mln consensus. Co issues downside guidance for Q2, sees Q2 revs of $21.4-21.8 mln vs. $23.13 mln Capital IQ Consensus Estimate. Co issues in-line guidance for FY15, sees FY15 revs of $94-97 mln vs. $95.93 mln Capital IQ Consensus Estimate.

4:11 pm Bridgeline Digital announces 1-for-5 reverse stock split effective as of close of business on May 7, 2015 (BLIN) :  

4:11 pm Intevac beats by $0.03, beats on revs (IVAC) : Reports Q1 (Mar) loss of $0.12 per share, $0.03 better than the Capital IQ Consensus Estimate of ($0.15); revenues rose 17.1% year/year to $19.9 mln vs the $18.56 mln consensus. Order backlog totaled $39.2 million on April 4, 2015, compared to $48.4 million on January 3, 2015 and $51.9 million on March 29, 2014.

4:11 pm Denny's beats by $0.01, beats on revs (DENN) : Reports Q1 (Mar) earnings of $0.10 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.09; revenues rose 7.4% year/year to $120.2 mln vs the $116.49 mln consensus. 

• Domestic system-wide same-store sales growth of 7.2%, comprised of a 7.6% increase at company restaurants and 7.1% increase at domestic franchised restaurants. 
• Co raises Fy15 domestic franchise same-store sales guidance to +2.5-3.5% from prior guidance of +1.5-3.0%. 
• Co raises FY15 adjusted EBITDA guidance ot $85-87 mln from $84-86 mln.
  

4:11 pm Nautilus beats by $0.10, beats on revs (NLS) : Reports Q1 (Mar) earnings of $0.34 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.24; revenues rose 33.8% year/year to $96.2 mln vs the $83.54 mln consensus.

• Gross margin for the Direct business improved 150 basis points to 65.2% for the first quarter of 2015, compared to 63.7% in the first quarter of last year, reflecting inventory write-downs for discontinued product in the prior year.
  

4:11 pm Health Care REIT: Forest City Enterprises (FCE.A) announces its agreement to purchase HCN's 49% equity interest in seven life-science office properties and two parking facilities (HCN) : Forest City Enterprises (FCEA & FCEB) will redeem HCN's interest for $573.5 million, including HCN's pro rata share of property-level debt of $174 million. The purchase price represents a projected 5% cap rate based on forward 12 months net operating income. The project has an unlevered IRR of approximately 15%

4:10 pm Ingram Micro misses by $0.01, reports revs in-line; guides Q2 EPS in-line, revs a bit below (IM) : Reports Q1 (Mar) earnings of $0.43 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus Estimate of $0.44; revenues rose 2.5% year/year to $10.64 bln vs the $10.54 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.50-0.58, excluding non-recurring items, vs. $0.56 Capital IQ Consensus Estimate. Co sees Q2 YoY revenue growth being relatively flat YoY vs consensus of +4%.

• "We experienced healthy demand across our geographic regions. Asia Pacific and Latin America were clear standouts, as strong revenues were complemented by solid increases in profitability. As anticipated, our sales mix in Europe improved over the 2014 fourth quarter, with lower contribution from consumer markets leading to modest year-over-year improvement in the profitability of our European core business. In mobility, we had good growth across all regions, while cloud and supply chain solutions continued to grow at robust rates."
• "We continue to generate significant revenue momentum as we expand our capabilities globally, including in our higher margin cloud and supply chain solutions, which is an important element of leveraging our customer, vendor and global infrastructure basis to achieve our longer-term financial targets."
  

4:10 pm InvenSense reports EPS in-line, beats on revs (INVN) : Reports Q4 (Mar) earnings of $0.12 per share, excluding non-recurring items, in-line with the Capital IQ Consensus Estimate of $0.12; revenues rose 68.3% year/year to $99.3 mln vs the $97.11 mln consensus.

4:10 pm Closing Market Summary: Stocks Creep Higher on Light Volume (:WRAPX) : The stock market kicked off the new trading week on an upbeat, albeit quiet, note. The Dow and S&P 500 gained 0.3% apiece while the Nasdaq Composite (+0.2%) slipped behind the broader market during afternoon action.

"Quiet" was the general theme on Monday as most global equity markets also posted gains while Japan's Nikkei and UK's FTSE were closed for holidays.

Seven of ten sectors finished in the green with financials (+1.0%) and utilities (+0.7%) ending in the lead. The countercyclical utilities sector lost the lead during the final hour while financials crept higher throughout the day, also overtaking the health care sector (+0.6%) during afternoon action.

Still, the health care space ended ahead of the broader market despite an intraday pullback in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 345.19, +1.19) was up more than 2.0% at the start, but narrowed its advance to 0.4% by the close. Furthermore, the ETF was pressured back below its 50-day moving average (349.00) after spiking above that level at the start.

Turning to the cyclical side, only the financial sector (+1.0%) could finish the day ahead of the S&P 500 while the other five growth-sensitive groups underperformed. The top-weighted technology sector (unch) spent the day behind the broader market with large cap names trading in mixed fashion. To that point, Google (GOOGL 552.84, +1.68) and IBM (IBM 173.97, +0.30) posted respective gains of 0.3% and 0.2% while Apple (AAPL 128.70, -0.25) and Microsoft (MSFT 48.24, -0.41) registered losses. Similarly, chipmakers lagged with the PHLX Semiconductor Index shedding 0.2%. The semiconductor index underperformed even as ON Semiconductor (ON 12.50, +0.69) spiked 5.8% following better than expected results.

On the downside, the energy sector (-0.2%) was an early leader, but the group surrendered its early gain during the opening hour and remained in negative territory until the close. Crude oil weighed, but the energy component managed to trim its loss to 0.3% by the close. WTI crude settled at $58.92/bbl, likely seeing some pressure from the second consecutive advance in the Dollar Index (95.43, +0.14).

Treasuries climbed during morning action, but reversed to lows following today's economic data with the 10-yr rising three basis points to 2.14%.

Today's participation was on the light side with fewer than 680 million shares changing hands at the NYSE floor.

Economic data was limited to the Factory Orders report for March, which increased 2.1% after declining a negatively revised 0.1% (from +0.2%) in February while the Briefing.com consensus expected an increase of 2.1%

• The March gain was the first month-over-month increase since July 2014 with the bulk of the gain resulting from a 41.9% increase in March aircraft orders 
• Durable goods orders were revised up to 4.4% from 4.0% reported in the advance estimate 
• Excluding transportation, durable goods orders were revised up to +0.4% from -0.2% 

Tomorrow, the Trade Balance for March (Briefing.com consensus -$40.00 billion) will be released at 8:30 ET while the April ISM Services report (consensus 56.4) will cross the wires at 10:00 ET.

• Nasdaq Composite +5.9% YTD 
• S&P 500 +2.7% YTD 
• Russell 2000 +2.3% YTD 
• Dow Jones Industrial Average +1.4% YTD

4:09 pm Tenet Healthcare beats by $0.15, beats on revs; guides Q2 EPS in-line; reaffirms FY15 EPS guidance (THC) : Reports Q1 (Mar) earnings of $0.46 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus Estimate of $0.31; revenues rose 11.3% year/year to $4.79 bln vs the $4.67 bln consensus. Co issues in-line guidance for Q2, sees EPS of $0.15-0.64 vs. $0.35 Capital IQ Consensus Estimate. Co reaffirms guidance for FY15, sees EPS of $1.32-2.40 vs. $2.00 Capital IQ Consensus Estimate. The company confirmed its existing Outlook for 2015, including revenue of $17.4 billion to $17.7 billion, adjusted EBITDA of $2.05 billion to $2.15 billion and earnings per share of $1.32 to $2.40 per share.The outlook for the second quarter includes $35 million of electronic health record incentives. The company's outlook for 2015 excludes the anticipated impact of the proposed joint venture with United Surgical Partners International, the acquisition of Aspen Healthcare, the joint venture with Baylor Scott & White, and other potential acquisition and development initiatives. The company intends to update its outlook for these items as part of its quarterly earnings releases following the finalization of each of these transactions.

4:08 pm Team Health Holdings announces the acquisition of the operations of Princeton Emergency Physicians, in Princeton, NJ; financial details not disclosed (TMH) :  

4:08 pm Anadarko Petroleum misses by $0.12, misses on revs (APC) : Reports Q1 (Mar) loss of $0.72 per share, ex-$5.73 in items (GAAP -$6.45), $0.12 worse than the Capital IQ Consensus Estimate of ($0.60); revenues fell 60.3% year/year to $2.32 bln vs the $2.58 bln consensus. 

• Delivered record sales volumes, highlighted by year-over-year growth of more than 130,000 barrels of oil equivalent (BOE) per day on a divestiture-adjusted basis(3)
• Reduced operating expense per BOE by 17 percent over the first quarter of 2014
  

4:08 pm Qualys beats by $0.04, misses on revs; guides Q2 below consensus; guides FY15 EPS in-line, revs below consensus (QLYS) : Reports Q1 (Mar) earnings of $0.15 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.11; revenues rose 23.5% year/year to $37.49 mln vs the $37.96 mln consensus.

• Co issues downside guidance for Q2, sees EPS of $0.09-0.11 vs. $0.13 Capital IQ Consensus Estimate; sees Q2 revs of $39.5-40 mln vs. $40.72 mln Capital IQ Consensus Estimate. 
• Co issues mixed guidance for FY15, sees EPS of $0.50-0.55 vs. $0.53 Capital IQ Consensus Estimate; sees FY15 revs of $165-166.5 vs. $168.39 mln Capital IQ Consensus Estimate. 
• "While our growth rate for our other products remains unchanged, we project a lower growth rate for our Vulnerability Management business than we did at the beginning of 2015. As a result, we are adjusting Qualys' full year revenue guidance to reflect a mid-point revenue growth rate of 24% instead of 26%. Importantly, our full year earnings guidance remains unchanged, reflecting our expectations that we will be able to effectively manage costs and leverage the strength of our platform."
  

4:07 pm Summit Hotel beats by $0.03, beats on revs; guides Q2 FFO in-line; raises FY15 FFO in-line (INN) : Reports Q1 (Mar) funds from operations of $0.27 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.24; revenues rose 20.2% year/year to $107.6 mln vs the $105.18 mln consensus.

• Co issues in-line guidance for Q2, sees FFO of $0.32-0.34 vs. $0.32 Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY15, raises FFO to $1.10-1.16 from $1.06-1.12 vs. $1.10 Capital IQ Consensus Estimate. 
• Pro forma revenue per available room in the first quarter of 2015 grew to $98.30, an increase of 11.9 percent over the same period of 2014. Pro forma hotel EBITDA in the first quarter of 2015 grew to $38.4 million, an increase of 18.9 percent over the same period in 2014. Same-store RevPAR in the first quarter of 2015 grew to $95.52, an increase of 13.3 percent over the same period in 2014.

4:07 pm Carmike Cinemas beats by $0.04, beats on revs (CKEC) : Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus Estimate of $0.08; revenues rose 16.0% year/year to $184.3 mln vs the $180.84 mln consensus.

• "With a strong balance sheet including over $90 million in cash, an untapped credit facility and outstanding debt levels that remain well within our target leverage range, we have the financial flexibility and capacity to fund our expansion plans. The year is off to a great start, and we remain optimistic that the favorable operating environment will continue as the year unfolds."
  

4:07 pm STAG Industrial increases common stock dividend to $0.1150 from $0.1125/share (STAG) :  

4:07 pm MagnaChip Semi announces the resignation of President and COO Tae Young Hwang, effective as of April 30, 2015 (MX) : The co. announced that Tae Young Hwang has resigned as the Company's Chief Operating Officer and President and from all other officer and director positions with the co. and its subsidiaries. Mr. Hwang's resignation was effective as of April 30, 2015. The co. also announced that Young-Joon Kim, the co.'s Interim Chief Executive Officer and General Manager, Display Solutions Division, will assume Mr. Hwang's duties as the co.'s principal operating officer. In addition, the co. announced that Seung-Hoon Lee, the Company's Senior Vice President of Manufacturing Operations, will oversee the co.'s semiconductor manufacturing services operations on a day-to-day basis and will report to Mr. Kim. Mr. Lee, who has 28 years of manufacturing operations experience in the semiconductor industry, is the current head of the co.'s fabrication facility in Gumi, South Korea, and previously served as the head of the co.'s fabrication facility in Cheongju, South Korea

4:07 pm AcelRx reports Q1 earnings, provides Zalviso regulatory update; notes its request for a Type B meeting with the FDA was denied (shares halted) (ACRX) : Co reports Q1 EPS of $-0.23 vs $-0.25 Capital IQ Consensus Estimate; revs 90.5% y/y to $0.181 mln vs $0.1 mln Captial IQ Consensus Estimate.

• As of March 31, 2015, AcelRx had cash, cash equivalents and investments of $64.4 million, compared to $75.4 million at December 31, 2014. The net decrease in cash, cash equivalents and investments was $11.0 million in the first quarter of 2015. 
• On April 21, 2015, AcelRx submitted a request to the Division of Anesthesia, Analgesia, and Addiction Products (DAAAP or the Division) of the Food and Drug Administration (FDA) for a Type B meeting. This past Friday the Division notified the Company that the request for a meeting was denied and restated the Division's view that a clinical study is required. "We are consulting with our regulatory, legal and clinical advisors to determine our next steps. We will be considering all options to determine a pathway forward for Zalviso including the possibility of dispute resolution through one of the FDA prescribed pathways as well as conducting additional clinical or Human Factors studies."

4:06 pm MTS Systems misses by $0.03, misses on revs; guides FY15 EPS below consensus, revs below consensus (MTSC) :

• Reports Q2 (Mar) earnings of $0.77 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.80; revenues rose 4.9% year/year to $144 mln vs the $149.6 mln consensus. 
  
• Co issues downside guidance for FY15, sees EPS of $3.00-3.20 vs. $3.84 Capital IQ Consensus Estimate; sees FY15 revs of $565-580 mln vs. $619.27 mln Capital IQ Consensus Estimate. 
  
• "While our end-markets remain strong, given the significant headwinds from the stronger U.S. dollar, particularly against the euro and the yen, and the continued higher mix of custom orders which, while decreasing on a sequential quarter basis, remains higher than expected this year, we are adjusting our fiscal year 2015 guidance for revenue down to a range of $565 million to $580 million and earnings per share to a range of $3.00 to $3.20. The negative impact from the stronger dollar directly accounts for approximately 70 percent of the reduction in revenue and 40 percent of the reduction in earnings per share. The remaining decrease is driven by the continued higher mix of custom orders and pricing pressures from the stronger dollar, offset in part by our productivity and efficiency initiatives combined with a strong cost focus across the business..."
  

4:06 pm On Deck Capital beats by $0.02, beats on revs; guides Q2 revs in-line; guides FY15 revs in-line (ONDK) : Reports Q1 (Mar) adjusted loss of $0.05 per share, $0.02 better than the Capital IQ Consensus Estimate of ($0.07); revenues rose 97.6% year/year to $56.5 mln vs the $54.82 mln consensus.

• Origination volume increased to a record $416 million for the quarter, reflecting growth of 83% over the prior year period.
  
  
• Guidance: Co issues in-line guidance for Q2, sees Q2 revs of $58-$60 mln vs. $59.51 mln Capital IQ Consensus Estimate. Sees Adjusted EBITDA of ($4.0)-($3.0) mln.
  
  Co issues in-line guidance for FY15, sees FY15 revs of $257-$261 mln vs. $256.00 mln Capital IQ Consensus Estimate. Sees Adjusted EBITDA of ($8.0)-($6.0) mln.
  

4:06 pm Texas Roadhouse beats by $0.02, misses on revs; comparable restaurant sales +8.9% at company restaurants and +8.0% at franchise restaurants (TXRH) : Reports Q1 (Mar) earnings of $0.46 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.44; revenues rose 15.9% year/year to $460.23 mln vs the $465.56 mln consensus.

• Comparable restaurant sales increased 8.9% at company restaurants and 8.0% at franchise restaurants
  
• Three company-owned restaurants were opened, including one Bubba's 33 restaurant
  
• Restaurant margin, as a percentage of restaurant sales, decreased 20 basis points to 19.0%. The impact of higher average unit volume was more than offset by commodity inflation of approximately 5.2%, mostly driven by beef.
  
• Comparable restaurant sales at company restaurants for the first four weeks of Q2 increased approximately 8.4% compared to the prior year period.
  

4:06 pm Adept Tech misses by $0.03, beats on revs; guides Q4 revs in-line (ADEP) : Reports Q3 (Mar) loss of $0.10 per share, $0.03 worse than the Capital IQ Consensus Estimate of ($0.07); revenues fell 6.6% year/year to $14.1 mln vs the $13.58 mln consensus. Gross margin was 41%, compared with 46% in the third quarter of fiscal 2014.

• Co issues in-line guidance for Q4, sees Q4 revs of $13.5-15.0 mln vs. $14.48 mln Capital IQ Consensus Estimate.
  

4:06 pm Itron announces that COO John Holleran will be departing Itron effective the end of 2015; co is conducting a search for candidates to fill the position (ITRI) :  

4:06 pm Trinity Industries increases quarterly dividend to $0.11 from $0.10/share (TRN) :  

4:05 pm A10 Networks beats by $0.05, beats on revs (ATEN) : Reports Q1 (Mar) loss of $0.15 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of ($0.20); revenues fell 3.7% year/year to $44 mln vs the $43.2 mln consensus.

4:05 pm Lattice Semi reports Q1 (Mar) results, beats on revs (LSCC) : Reports Q1 (Mar) earnings of $0.03 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.03; revenues fell 8.3% year/year to $88.6 mln vs the $83.7 mln consensus. 

• Net loss for the first quarter on a GAAP basis was $53.3 million ($0.46 per basic and diluted share), with first quarter net income on a non-GAAP basis of $3.9 million ($0.03 per basic and diluted share). GAAP results for the first quarter of 2015 reflect $4.9 million in restructuring costs, $18.2 million in acquisition related charges, a $24.7 million tax provision, $2.9 million in amortization of acquired intangibles and $3.4 million in stock based compensation expense.

Revenue for the second quarter of 2015 is expected to be approximately $120 million plus or minus 3% on a non-GAAP basis, with revenue for the full year 2015 expected to be approximately $485 million plus or minus 3% on a non-GAAP basis.

• Gross margin percentage for both the second quarter and full year 2015 is expected to be approximately 56.5% plus or minus 2% on a non-GAAP basis.
  

4:04 pm Chuy's beats by $0.03, reports revs in-line; raises FY15 EPS guidance (CHUY) : Reports Q1 (Mar) earnings of $0.19 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.16; revenues rose 19.3% year/year to $66.8 mln vs the $66.95 mln consensus. Q1 Comparable restaurant sales increased 1.9% as compared to the same period in 2014, the 19th consecutive quarter of comparable restaurant sales growth.

• Co issues in-line guidance for FY15, raises EPS to $0.76-0.79 from $0.74-0.77 vs. $0.76 Capital IQ Consensus Estimate.  Co reaffirms FY15 guidance for Comparable restaurant sales growth of approximately 2.50% for the remainder of the year.

4:04 pm Sykes Enterprises beats by $0.08, beats on revs; guides Q2 EPS below consensus, revs below consensus; guides FY15 EPS below consensus, revs below consensus (SYKE) : Reports Q1 (Mar) earnings of $0.43 per share, excluding non-recurring items, $0.08 better than the Capital IQ Consensus Estimate of $0.35; revenues fell 0.2% year/year to $323.7 mln vs the $317.5 mln consensus.

• Co issues downside guidance for Q2, sees EPS of $0.24-0.27, excluding non-recurring items, vs. $0.33 Capital IQ Consensus Estimate; sees Q2 revs of $300-305 mln vs. $315.28 mln Capital IQ Consensus Estimate. 
• Co issues downside guidance for FY15, sees EPS of $1.54-1,.62, excluding non-recurring items, vs. $1.64 Capital IQ Consensus Estimate; sees FY15 revs of $1.270-1.285 bln vs. $1.32 bln Capital IQ Consensus Estimate.
  
• "Company is fine tuning its 2015 diluted earnings per share and revenues outlook due to on-going foreign exchange volatility and somewhat lower demand forecasted from a handful of existing clients within the communications vertical."
  

4:04 pm Matson beats by $0.02, misses on revs (MATX) : Reports Q1 (Mar) earnings of $0.57 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.55; revenues rose 1.5% year/year to $398.2 mln vs the $429.53 mln consensus. 

• The Company expects to close the pending transaction with Horizon Lines, Inc. by the end of the second quarter. However, the closing remains dependent upon a number of conditions, including the closing of Pasha's acquisition of Horizon's Hawaii business. The Company's 2015 outlook continues to exclude any future effects of the pending transaction. Assuming the pending transaction closes by the end of the second quarter, the Company expects to update its outlook for the effects of the acquisition during its second quarter 2015 earnings conference call, currently scheduled for early August 2015.
  
• The Company believes that the Hawaii economy is in a multi-year recovery and is anticipating modest market growth in the trade in 2015. However, containership capacity is projected to increase in the second quarter of 2015 as a competitor has announced plans to launch an additional new vessel into the trade in May. As a result, the Company expects its 2015 Hawaii container volume to approximate the 2014 level.
  

4:04 pm Bravio Brio beats by $0.03, beats on revs; guides FY15 EPS in-line, revs in-line (BBRG) : Reports Q1 (Mar) earnings of $0.16 per share, $0.03 better than the Capital IQ Consensus of $0.13; revenues rose 5.5% year/year to $108.2 mln vs the $104.96 mln consensus; comps -1.2%.

Co issues in-line guidance for FY15, sees EPS of $0.63-0.69 vs. $0.65 Capital IQ Consensus Estimate; sees FY15 revs of $421-429 mln vs. $426.87 mln Capital IQ Consensus Estimate. Total comparable restaurant sales of minus 2.5% to 0.0%.

4:03 pm Ignite Restaurant beats by $0.06, reports revs in-line (IRG) :

• Reports Q1 (Mar) loss of $0.04 per share, excluding non-recurring items, $0.06 better than the Capital IQ Consensus Estimate of ($0.10); revenues fell 0.7% year/year to $122.2 mln vs the $123.26 mln consensus. 
  
• Comparable restaurant sales increased 5.4% at Brick House Tavern + Tap, and decreased 3.8% at Joe's Crab Shack.
  

4:02 pm ClubCorp announces secondary offering of 11 mln shares of common stock by a selling shareholder (MYCC) : ClubCorp is not selling any shares of common stock in the offering and will not receive any of the proceeds from the sale.

4:02 pm CytoDyn submits Phase 3 protocol to FDA After agreement on protocol synopsis (CYDY) : Additionally, CytoDyn may apply for a breakthrough designation for PRO 140, as the first self-injectable antibody for HIV therapy.

• The FDA is in agreement with CytoDyn's proposed regulatory path for the first approval for PRO 140 and the Company plans to request a meeting with the FDA to discuss potential additional indications for HIV therapy following the submission of the "top-line report" of the recently completed Phase 2b treatment substitution study.
  

4:02 pm Agree Realty increases quarterly dividend to $0.465 from $0.45/share (ADC) :  

4:02 pm Affimed Therapeutics announces proposed public offering of common stock, with intention to raise $35 mln (AFMD) : Co noted that it may sell up to $5.25 million of additional common shares to the underwriters.

4:01 pm Argo Group beats by $0.18 (AGII) : Reports Q1 (Mar) earnings of $1.02 per share, $0.18 better than the Capital IQ Consensus Estimate of $0.84. Gross written premiums were up 2.9% to $476.7 million from $463.1 million in the first quarter of 2014. Book value per share increased to $59.48, up 2.2% from $58.22 at Dec. 31, 2014.

4:01 pm Cousins Prop and Northwood Ravin to begin development of Carolina Square in Chapel Hill, NC (CUZ) : The co. and Northwood Ravin announce today the execution of a 50/50 joint venture to develop Carolina Square, a $120 million mixed-use project located adjacent to the University of North Carolina in Chapel Hill. The development is currently anticipated to include 246 apartment units in addition to approximately 158,000 square feet of office space and 42,000 square feet of retail space. The co will oversee commercial leasing for the project

4:01 pm Acadia Healthcare announces a proposed offering of 4.5 mln shares of common stock (ACHC) : Co intends to use the proceeds from the offering to repay outstanding debt on the revolving line of credit under its existing amended and restated senior credit agreement, to fund its acquisition activity and for general corporate purposes

4:01 pm Itron misses by $0.05, beats on revs (ITRI) : Reports Q1 (Mar) earnings of $0.20 per share, excluding non-recurring items, $0.05 worse than the Capital IQ Consensus Estimate of $0.25; revenues fell 5.6% year/year to $448.24 mln vs the $441.64 mln consensus.

3:41 pm Treasury Market Summary (BONDX) : Treasuries Mixed as Curve Steepens

• 10- and 30-years took significant losses  and made fresh multi-week lows today while 2- and 5-year notes were unchanged 
• Yield check:
• 2-yr: unch at 0.60%
• 5-yr: unch at 1.50%
• 10-yr: +3 bps to 2.14%
• 30-yr: +5 bps to 2.88%

• News:
• China's HSBC Manufacturing PMI fell to a lower-than-expected 48.9 in April. The preliminary number was 49.2 and the Purchasing Managers' Index was at 49.6 in March
• U.S. Factory Order growth in March was 2.1%, in-line with the Briefing.com consensus and much better than the fall of 0.1% in February 
• Almost the entire gain could be attributed to a bump in aircraft orders, which increased 41.9% in March
• This was the first m/m increase since July of 2014
• Chicago Fed President Evans (known dove and FOMC voter) said that he probably would not support a rate hike until early 2016
• He said the risks of an early hike outweigh the risks of a late one and that Fed policy should arguably be more accommodative
• The 30-year bond yield hit its 200-day moving average (2.87%) for the first time since March of 2014

• Commodities:
• WTI Crude: -0.36% to $58.94/bbl
• Gold: +1.16% to $1,188.10/troy oz.
• Copper: -0.53% to $2.914/lb.

• Currencies:
• EUR/USD: -0.49% to $1.1145
• USD/JPY: -0.03% to Y120.14

• Data Out Tuesday: 
• March Trade Balance (08:30 ET)
• April ISM Services (10:00 ET)
• Fed Speaker: 
• Minneapolis Fed President Kocherlakota (non-FOMC voter) (20:00 ET)

3:41 pm Hawaiian Electric announces Glass Lewis proxy advisory firm to recommend a vote for proposed merger of Hawaiian Electric Industries with NextEra Energy (NEE) (HE) :  

3:41 pm MGM Resorts: Lands and Buildings shareholder group releases statement after MGM's Q1 earnings call: 'We were gratified to hear the first credible signal (...) that a REIT structure could play a pivotal role in monetizing's MGM's undervalued real estate' (MGM) :  

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

• INVN, AEIS, APC, BKH, FN, IDTI, LMNX, MDU, MTSC, LSCC, ADEP, APU, ININ, IVAC, MUSA, UGI, ECOM, EGOV, ENH, FBP, PPS, AGII, DNB, KS, MERU, OTTR, PKY, QLYS, ATEN, ITRI, CGNX, DVA, SYKE, RAIL, SHO, VNO, XEC, CAR, CDE, DENN, ELNK, EOG, FNF, MIC, XPO, HVT, NLS, ONDK, PACD, ROSE, RWT, SNHY, STAG, THC, TXRH, BBRG, IMPR, MATX, NUVA, SGY, CXO, KAI, RGR, STLY, AEGR, IM, PTCT, BALT, CHUY, CKEC, INN, MCEP, PQ, EOX, PLOW, HIL, IRG, TCPI

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

• ABMD, TDG, CVLT, ENR, KLIC, MDC, KEM, KMT, DIS, EMR, HCA, HRC, HW, MNK, TECH, SMG, EL, GLT, ICE, MMP, OZM, SBH, TW, VLP, VMC, VSH, HRS, ALLT, AMAG, CYNO, HCP, SALE, AFSI, LPX, USAK, VPG, WEC, ZTS, K, NNN, SCOR, NGLS, TRW, TGH, CRTO, H, MDCO, SABR, UAM, ANIP, BBW, BLMN, DISCA, DTV, NBL, SGNT, CIE, EIGI, CLDT, DW, GLDD, GPX, HEP, ODP, SPAR, CSG, STWD, ACTA, EXH, EXLP, GCAP, NSM, NTi, SRE, WNR, WNRL, GVA, ISIS, NWN, SSE, BBEP, OXFD, PRIM, GTN, MSO, BPI, SNSS

3:06 pm DuPont: Trian shareholder group announces that proxy advisory firm, Egan-Jones has recommended that stockholders vote for its GOLD proxy card at the co's upcoming annual meeting (DD) :  

2:31 pm Arthur J. Gallagher acquires compensation consulting services firm, Burns-Fazzi, Brock & Associates; financial terms not disclosed (AJG) :  

2:30 pm Currency Market Summary (BONDX) : Dollar Extends Winning Streak to Two

• The U.S. Dollar Index rallied 0.10% to 95.40 today. The April employment report will be released on Friday
• The euro currency accounted for most of the dollar's rally, with EUR/USD declining 0.51% to $1.1144
  
• The pound sterling fell 0.12% to 1.5120. The U.K. will hold its national election on May 7th and there is considerable uncertainty surrounding the outcome
• USD/JPY fell 0.05% to Y120.10
• AUD/USD fell 0.07% to $0.7845
• The Reserve Bank of Australia will meet Tuesday, and is widely expected to cut rates
• NZD/USD fell 0.08% to $0.7534
• USD/CAD fell 0.37% to 1.2114
• USD/CHF rallied 0.15% to 0.9341
  

2:23 pm Keurig Green Mtn announces statement regarding former CTO Kevin Sullivan: 'Sullivan remains with the company and has no plans to leave (...) he will now focus exclusively on critical technology initiatives' (GMCR) : Co stated:

• "Kevin Sullivan, formerly Keurig's Chief Technology Officer, remains with the company and has no plans to leave. Over the past 15 months, Kevin and Brian Kelley, Keurig's President and CEO, have been working closely together to shift Kevin's responsibilities at his request. 
• Kevin will now focus exclusively on critical technology initiatives for the company. In April 2015, following a comprehensive search to find the best candidate to serve as Keurig's Chief Technology Officer, Mark Choe assumed the position, joining Keurig from Whirlpool Corporation (WHR).
  
• There has been no shake-up in our R&D division."

2:20 pm MCG Capital responds to unsolicited proposal from HC2 Holdings (HCHC); will review the terms of the proposal (MCGC) : MCG's Board of Directors, in consultation with its financial and legal advisers, will review the terms of the proposal submitted by HC2 Holdings. On April 28, 2015, MCG executed a merger agreement with PennantPark Floating Rate Capital Ltd. (PFLT) which provides for the acquisition of MCG by PFLT in a stock and cash transaction. MCG's Board of Directors has not changed its recommendation in support of the merger with PFLT. MCG will have no further comment on HC2 Holdings' proposal until the Board has completed its review.

2:17 pm A. Schulman announces a proposed offering of $375 mln of senior notes due 2023 (SHLM) : Company intends to use the net proceeds from the Notes offering to finance a portion of the cash consideration to be paid in its proposed acquisition of HGGC Citadel Plastics Holdings, to refinance certain existing debt and for general corporate purposes

2:03 pm Medtronic announced the commercial launch of its DIVERGENCE Stand Alone Interbody Cage, for use in anterior cervical interbody fusion procedures (MDT) :  

1:50 pm First Financial Northwest announces the adoption of a 10b5-1 stock repurchase plan, for stock repurchases to take place between June 22 and October 28, 2015 (FFNW) :  

1:35 pm Genetic Technologies announces that the second of two Nasdaq deficiencies has been successfully remediated (GENE) : As at 31 March 2015, the net assets position of the Company stood at $21 million (approximately USD 16 million), which satisfies the Nasdaq stockholders' equity requirement for continued listing.

1:08 pm Additional slippage off early highs -- Dow +42, S&P +5.2, Nasdaq Comp +9.9 (:TECHX) : Underperforming sectors in recent trade include, Silver SLV, Restaurant, REITs IYR, Housing XHB.

1:01 pm Raytheon confirms $559 mln award from the Missile Defense Agency -- see 17:46 post on 4/30 for original mention of contract win (RTN) :  

12:57 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume). 

Large Cap Gainers

• CTSH (63.78 +7.85%): Beat Q1 consensus EPS estimates by $0.01, beat on revs; guided Q2; slightly raised FY15 guidance.
• JD (34.28 +2.22%): Upgraded to Buy from Neutral at Citigroup.
• HSIC (141.81 +2.14%): Beat Q1 consensus EPS estimates by $0.01, missed on revs; reaffirmed FY15 EPS guidance.

Large Cap Losers

• WLK (74.88 -3.64%): Reported Q1 (Mar) earnings of $1.10 per share, $0.10 worse than the Capital IQ Consensus Estimate of $1.20; revenues rose 7.3% year/year to $1.1 bln vs the $1.13 bln consensus.
• WBK (27.71 -4.42%): Reported Q1 EPS of AUD1.21 vs AUD1.22 Capital IQ consensus; downgraded to Neutral from Buy at Goldman.
• PXD (167.4 -2.42%): Under pressure following cautious mention from Greenlight's David Einhorn.

Mid Cap Gainers

• ON (12.57 +6.44%): Beat Q1 consensus EPS estimates by $0.03, beat on revs; guided Q2 revs in-line.
• ICPT (267.21 +4.79%): Positive mention in Barron's, saying the name could be a takeover target.
• AEO (16.65 +4.36%): Initiated with a Outperform at RBC Capital Mkts; tgt $20.

Mid Cap Losers

• KOS (9.2 -4.96%): Reported Q1 (Mar) loss of $0.21 per share, $0.11 worse than the Capital IQ Consensus Estimate of ($0.10); revenues fell 44.1% year/year to $132.6 mln vs the $169.54 mln consensus.
• HYH (46.21 -5.4%): Missed Q1 consensus EPS estimates by $0.11, beat on revs; reaffirmed FY15 EPS guidance.
• DCI (36.02 -4.46%): Sees FY15 revs of $2.3-2.4 bln (lowered from $2.4-2.5 bln) vs $2.47 bln Capital IQ Consensus Estimate, adjusted EPS of $1.51-1.61 (lowered from $1.65-1.85) vs $1.75 Capital IQ Consensus Estimate.

12:55 pm Midday Market Summary: Countercyclical Sectors Lead (:WRAPX) : The major averages sport modest midday gains with the S&P 500 trading higher by 0.3%. The benchmark index notched its high during the opening hour and has drifted within a few points of that mark since then.

Eight of ten sectors trade in the green at this time with the utilities sector (+1.3%) holding the lead. Similar to utilities, the countercyclical health care space (+0.8%) trades ahead of the broader market while the other two defensively-oriented groups-consumer staples (+0.3%) and telecom services (+0.3%)-have spent the first half a bit behind the broader market.

As for health care, the influential group has been lifted by biotechnology with iShares Nasdaq Biotechnology ETF (IBB 346.47, +2.47) looking to reclaim its 50-day moving average (349.06) after sliding below that level last Tuesday.

Conversely, the outperformance in the biotech space has helped the Nasdaq (+0.4%) trade a bit ahead of the broader market even as technology sector (+0.1%) components remain mixed. Chipmakers have struggled since the start with the PHLX Semiconductor Index trading lower by 0.3% while large cap names haven't fared that much better with Apple (AAPL 128.47, -0.48) turning negative during the past 30 minutes.

Elsewhere among cyclical sectors, financials (+0.7%) outperform while the energy sector (-0.4%) sits at the bottom of the leaderboard despite starting in the lead. The growth-sensitive group has followed in the footsteps of crude oil, which is now down 0.4% at $58.92/bbl.

On the fixed income side, Treasuries climbed through the morning, but they have reversed to new lows with the 10-yr yield higher by two basis points at 2.13%.

Economic data was limited to the Factory Orders report for March, which increased 2.1% after declining a negatively revised 0.1% (from +0.2%) in February while the Briefing.com consensus expected an increase of 2.1%

• The March gain was the first month-over-month increase since July 2014 with the bulk of the gain resulting from a 41.9% increase in March aircraft orders 
• Durable goods orders were revised up to 4.4% from 4.0% reported in the advance estimate 
• Excluding transportation, durable goods orders were revised up to +0.4% from -0.2%

12:46 pm Major averages hovering near their morning pullback lows -- Dow +61, S&P +7.6, Nasdaq Comp +19 (:TECHX) :  

12:33 pm Jabil Circuit announces it will be a supplier of solutions based on Intel Reference Designs; including the Intel IoT Retail Gateway (JBL) :  

12:32 pm TD Ameritrade's Investor Movement Index: New two-year low marks fifth month of decline in seven months (AMTD) : The April 2015 Investor Movement Index for the four weeks ending March 27, 2015, reveals:

• Reading: 4.63 (compared to 4.75 in March) 
• Trend direction: Negative 
• Trend length: 1 month 
• Score relative to historic ranges: Middle 

The IMX dipped to a new two-year low of 4.63 in April as TD Ameritrade clients lowered their exposure to U.S. equity markets. This marks the fifth time in the past seven months that the IMX has declined, a period in which the major indexes have been somewhat range-bound and the S&P 500 has seemed to encounter resistance at the 2100 point level.

12:25 pm Market Internals (:MKTIN) : The Nasdaq is up 25 points (+0.50%) to 5030, the S&P 500 is up 9 (+0.43%) to 2117, and the Dow is up 74 (+0.41%) to 18098. Action has come on lower than average volume (NYSE 261 mln vs. avg. of 285; NASDAQ 686 mln vs. avg. of 773), with advancers outpacing decliners (NYSE 1973/1127, NASDAQ 1762/952) and new highs outpacing new lows (NYSE 45/13, NASDAQ 52/28).

Relative Strength: Silver-SLV +2.7%, Indonesia-IDX +2.3%, Philippines-EPHE +2.2%, Silver Miners-SIL +2.0%, Jr. Gold Miners-GDXJ +2.0%, Platinum-PPLT +1.9%, Rare Earth Metals-REMX +1.8%, India-INP +1.7%, Hong Kong-EWH +1.1%, All Ctry. Asia Ex-Japan-AAXJ +0.6%. 

Relative Weakness: Sugar-SGG -3.7%, Greece 20-GREK -3.6%, Vietnam-VNM -3.5%, Coffee-JO -1.4%, Oil&Gas E&P-XOP -1.5%, S. Africa-EZA -1.1%, Emrg. Md. E. & Africa-GAF -1.0%, US Gasoline-UGA -1.0%, US Oil-USO -1.0%, Egypt-EGPT -0.8%.

12:18 pm Macerich confirms the addition of two new independent directors and a plan to terminate its stockholder rights plan and declassify its Board (MAC) : Under the plan announced, the Board has added two new independent director nominees to stand for election at the 2015 Annual Meeting of Stockholders. In connection with the addition of the new nominees, Dana Anderson and Dr. William P. Sexton have agreed to step down from the Board following the Annual Meeting.

• Macerich has committed to declassify its Board of Directors no later than immediately after the 2016 Annual Meeting. The Board of Directors also intends to promptly terminate its limited duration stockholder rights plan. Macerich stockholders do not have to take any action with respect to these changes. 
• In connection with today's announcement, the Company also announced an agreement with the stockholder group under which it will withdraw its notice of nomination for the 2015 Annual Meeting and associated litigation in the Circuit Court for Baltimore City, Maryland against the Company.
  

12:18 pm Pioneer Natural Resources follow-up: Stock sinks 3% on cautious comments on PXD and other frackers by David Einhorn at Ira Sohn conference (PXD) :

• As mentioned, Greenlight Capital's David Einhorn made cautious comments on the oil fracking sector at the Ira Sohn conference.
• Einhorn specifically called out Pioneer (PXD) cautiously. 
• PXD is scheduled to report earnings tomorrow after the close.
• Other related stocks moving lower in sympathy include CXO, EOG, WLL, CLR.
  

12:13 pm Relative sector weakness in Energy XLE and Oil Service OIH in recent action (:TECHX) :  

12:11 pm First Financial elected Randy Roewe to the position of Executive Vice President and Chief Risk Officer (FFIN) :  

12:06 pm 30-yr yield -TYX- extends to 2.867, probing its March/four month high and its 200 day sma at 2.87 (:TECHX) :  

12:00 pm Enterprises Finl increases quarterly dividend 14% to $0.06 from $0.0525 per share; authorizes repurchase of up to 2 mln shares of common stock (EFSC) :  

11:58 am European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

• UK's FTSE:Closed
• Germany's DAX:+1.4%
• France's CAC:+0.7%
• Spain's IBEX:+0.4%
• Portugal's PSI:+1.8%
• Italy's MIB Index:+0.7%
• Irish Ovrl Index:Closed
• Greece ASE General Index: +0.4%

11:47 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (84) outpacing new lows (40) (:SCANX) : Stocks that traded to 52 week highs: AAWW, AB, AFSI, AMBA, AMCX, APOG, ATTU, AVOL, AVY, AYR, BAMM, BCO, BFAM, BK, BLKB, BSFT, BX, CCO, CLRO, CMT, CORI, CRUS, CTSH, CYNI, CYOU, DDC, DLPH, DRA, EBF, EBS, EFX, ENFC, ETE, FCAP, FFA, FSBW, FTNT, GSH, HNP, IFV, IGTE, IMH, INNL, IPWR, JBLU, JNPR, LLNW, LMAT, LUX, LYV, MCGC, MELI, MLM, NAP, NTES, NTRI, PBHC, PFLT, PGC, RELY, RLGY, RTIX, SAR, SBFG, SBSA, SEDG, SEIC, SFBS, SHAK, SJM, SKYW, SQNM, SUM, TASR, TDS, TRQ, VAC, VIAS, VKTX, VMC, VNQI, VNTV, WVVI, YUM

Stocks that traded to 52 week lows: ACTA, ARCI, ASND, BSM, BWEN, CBLI, CCD, CDTX, CHMG, DCI, DCTH, DDD, DSS, DV, EMES, FBRC, FTD, GYRO, IKAN, IPHS, IRT, ISH, KERX, LADR, LMIA, LPTN, PNX, PRGN, QUIK, RSO, SCON, SGI, SIF, TAX, TRIV, TSU, UNXL, VTNR, WPCS, ZU

ETFs that traded to 52 week highs: HAO, TAO

ETFs that traded to 52 week lows: DBA, VXX, VXZ

11:17 am Currency Commentary: DXY Testing Support; Jobs on Tap (:SUMRX) :

• The Dollar Index is testing 95 for support as we kick off another week of trade. At the end of the week the markets will get the April jobs numbers. This will be closely watched report, especially after the March numbers fell far short of expectations.  The DXY is in the midst of testing key support levels ahead of the news. The ADP jobs report released Wednesday morning will help set the tone ahead of the jobs numbers. It will also be a busy week for Fed speakers with Rosengren, Tarullo, Evans and Williams all expected to speak tonight. 
• The euro is bumping into resistance at the 100 sma (1.1280). PMI data was mixed to light but is not having much of an impact on trade at the moment. There are some hopes that a new Greek negotiating team will be able to improve the discussions that will lead to a solution for the two sides. 
• The pound is seeing some profit taking following its recent rally. The U.K. is closed today for a banking holiday so the trade does remain light. The move comes ahead of the May 7 elections which is help adding pressure. The outcome from the elections remains uncertain which should keep pressure on cable. 
• The yen is testing the 120 level for support. Yen spent most of last week trying to push through 119 with little success. THat has led to some small selling in the yen. But the overall pattern of tight consolidation remains the dominant theme for yen. the 20-, 50-, and 100-sma are all converging and have a range of 119.30-119.89. Japanese markets were also closed for holiday today (BONDX, FOREX). 
  

11:01 am Agilent to acquire Cartagenia, a provider of software and services for clinical genetics and molecular pathology labs; terms not disclosed (A) :  

10:59 am Dow +74 slips back as much as 40 points off high -- S&P +8.5, Nasdaq Comp +21 (:TECHX) :  

10:31 am New session high for Nasdaq Comp +38 -- Dow +102 and S&P +11.9 are hovering just under their highs (:TECHX) : Sectors outperforming the S&P in recent action include: biotech IBB, Pharma PPH, Health XLV, Medical Supplies, Utility XLU, Coal KOL, Silver SLV, Gold GLD.

10:31 am Bank of America notches new session high of 16.31, hovering near its 200 sma at 16.33 (BAC) : Last week noted a short term range break and test of its 50 sma/ema (15.81).  The sustained breach of the averages has been extended back near its 200 day sma in recent action. 

10:22 am Tata Motors reported M&HCV, passenger cars and exports drive growth in April 2015 (TTM) : Tata Motors noted it saw strong growth in certain key segments, as passenger cars (excluding UV's), M&HCV and Exports grew by 58%, 21% and 18%, respectively, year-on-year; with the total commercial and passenger vehicles sales (including exports) in April 2015 of 36,205 vehicles, a growth of 7% over 33,962 vehicles sold in April 2014. The company's domestic sales of Tata commercial and passenger vehicles for April 2015 were 32,419 nos., a growth of 5% over 30,740 vehicles, sold in April 2014.

10:18 am PartnerRe: EXOR states it remains fully committed to $6.4 bln 'superior' all-cash offer for PartnerRe (PRE) : EXOR notes:

• "The decision by the PartnerRe Board continues to ignore the superior nature of EXOR's fully financed, all-cash proposal of $130 per share, which offers a significant premium to PartnerRe's shareholders. In contrast, AXIS' revised transaction still undervalues PartnerRe and is clearly not in the best interests of PartnerRe, its shareholders, employees and policyholders."
• "The purported value of the proposed $11.50 extraordinary dividend is misleading. Since PartnerRe shareholders would own approximately 52 percent of a combined PartnerRe/AXIS, the incremental value to the PartnerRe shareholders is less than half of the proposed dividend."
• They continue, "Notwithstanding the PartnerRe Board's continued support for a still inferior transaction with AXIS, PartnerRe shareholders will ultimately decide which transaction is superior. EXOR is therefore determined to pursue its transaction on the proposed terms and is fully committed to achieving its rapid completion."

10:14 am AVT Corp files for court protection under Chapter 11; expects to continue 'Business as Usual' while reorganizing and developing future growth strategies (AVTC) : AVT management states that the company's core vending and automated retailing business remains strong, and that the filing is related to past attempts at diversification into unrelated businesses. AVT management believes that the filing will allow the company to not only continue operations, but to emerge on an even stronger footing, with a solid foundation for future success.

10:10 am Broad based push slightly extended -- Dow +98, S&P +11.5, Nasdaq Comp +34 (:TECHX) : Small-/mid-caps are pacing the way higher today on a percentage basis but the large cap/blue chip S&P 100 has neared its all time high from last week at 932.65 (session high 932.15).  The all time intraday peak for the S&P 500 is at 2125.92, this morning's high is at 2120.95. 

10:04 am 3D Systems partners with Carolina Wholesale Group to make it the national distribution partner of 3D Systems' consumer 3D printing products (DDD) :

10:01 am Medtronic receives FDA clearance for ZEVO Anterior Cervical Plate System (MDT) : Co announced it has received 510(k) clearance from the FDA to market the ZEVO Anterior Cervical Plate System. This system is now commercially available for the treatment of cervical degenerative disc disease, trauma, tumors, deformity, pseudoarthrosis, and/or failed previous fusions.

9:56 am iShares NASD Biotech runs to new session highs (IBB) : The IBB has displayed relative strength in recent action -- ICPT, CLVS, OTIC, SGEN, BMRN, NBIX, VRTX, BIIB, AMGN, JUNO, GILD, CELG, MYGN, ABMD. 

9:47 am Westlake Chemical 2% lower after missing Q1 estimates (WLK) : Reports Q1 (Mar) earnings of $1.10 per share, $0.10 worse than the Capital IQ Consensus Estimate of $1.20; revenues rose 7.3% year/year to $1.1 bln vs the $1.13 bln consensus.

• Income from operations for the first quarter of 2015 benefited from improved vinyls integrated product margins, mainly as a result of the cost-advantaged ethane feedstock currently utilized at the Calvert City, Kentucky ethylene plant following the completion of a feedstock conversion and ethylene expansion project, improved production rates at the Geismar, Louisiana chlor-alkali plant and the contribution from Vinnolit as compared to the first quarter of 2014. However, this benefit was more than offset by lower olefins integrated product margins as a result of lower sales prices in the first quarter of 2015 as compared to the prior-year period.
  

9:45 am Relative sector strength (:TECHX) : Early relative strength has been noted in: Silver SLV, Gold Miners GDX, Mining XME, Transports IYT, Home Const ITB, Casino, Coal KOL, Gold GLD, Industrial XLI, REITs IYR.

9:41 am Opening Market Summary: Stocks Rally Out of the Gate (:WRAPX) : The major averages have climbed out of the gate amid strength in all ten sectors. The S&P 500 trades higher by 0.4% with the energy space (+0.6%) driving the early strength.

That being said, other influential sectors like industrials (+0.5%), health care (+0.5%), financials (+0.4%), and consumer discretionary (+0.4%) have also shown opening strength.

Elsewhere, the Dollar Index (95.33, +0.03) has returned to its flat line after showing early strength.

Treasuries remain on their highs with the 10-yr yield down two basis points at 2.10%.

The Factory Orders report for March (Briefing.com consensus 2.1%) will be released at 10:00 ET.

9:39 am Firmer start for the major averages with the S&P +8 nearing its all time close high at 2117 -- Dow +66, Nasdaq Comp +23 (:TECHX) :  

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

• Baxter International (BAX) and Merrimack Pharmaceuticals (MACK) jointly announced that Baxter has submitted a marketing authorization application (MAA) to the European Medicines Agency for approval of MM-398, also known as ''nal-IRI,'' an investigational treatment for patients with metastatic adenocarcinoma of the pancreas who have been previously treated with gemcitabine-based therapy
• First Foundation Inc. (FFWM) announced that David S. DePillo has been appointed President of First Foundation Bank, a subsidiary of the company
• American Express (AXP) and Plenti, announced a new cobrand Credit Card for Plenti members
• Ikanos Communications (IKAN) announced that D-Link has chosen the Ikanos Fusiv Vx500 family of chipsets to power its next generation of high-performance LTE routers and gateways
• Diebold, Incorporated (DBD) announced that Elias R. Da Silva has joined the company as Vice President, Brazil, overseeing Diebold's sales and services operations throughout the country
• Brookfield Asset Management (BAM) announced that its integrated facilities and project management services business in Canada, Australia and New Zealand will be rebranded as Brookfield Global Integrated Solutions.
• RLHC (RLH) announced the company will add a new location in Bakersfield, California, after signing a franchise license agreement with the owner of a hotel there
• Aquinox Pharmaceuticals, Inc. (AQXP) announced that it has reached its target enrollment in the Phase 2 KINSHIP trial of AQX-1125 for the treatment of atopic dermatitis. The KINSHIP trial's primary endpoint is change from baseline in Total Lesion Symptom Score after 12 weeks of treatment. Secondary endpoints include safety, pharmacokinetics and additional efficacy endpoints, including the analyses of biopsies. Top line data from the KINSHIP trial is anticipated by the first quarter of 2016.
• Top Image Systems (TISA) announced the appointment of Mr. Carsten Nelk to the position of Top Image Systems' Chief Technology Officer, effective May 1, 2015. Most recently Carsten was responsible for innovation in Financial Process Automation at ReadSoft AB
  
• TrueCar (TRUE) expects demand for compact utility vehicles to continue expanding among U.S. auto buyers this year, so much so that the segment will be the market's biggest for the first time.
  

9:21 am Hill International: DC Capital Partners sends letter to Hill International; proposes purchasing Hill in a cash purchase transaction valued at not less than $5.50 per share on a fully diluted basis (HIL) : Highlights from the letter include:

• "Thank you for taking the time to meet with my partner, Doug Lake, and myself, to discuss strategic alternatives with our firm, DC Capital Partners, LLC ("DC Capital"), that we believe would enhance the shareholder value of Hill International, Inc...As a shareholder of Hill, we have been impressed with the Company's recovery from the Libya liquidity predicament. However, we remain concerned with the Company's disproportionate exposure to the Middle East region...We would propose purchasing Hill in a cash purchase transaction valued at not less than $5.50 per share on a fully diluted basis. This price represents a premium of 40.7% over the stock's closing price on May 1st, 2015. Since we have only had access to public information to date this proposal is subject to confirmatory due diligence. We have held in depth discussions with our investment bank and would expect to have a fully executed, underwritten financing commitment prior to execution of the definitive merger agreement. The definitive merger agreement would not include a financing or due diligence condition."
  

9:16 am New Source Energy has commenced a public offering of $40 mln of Series A Cumulative Convertible Preferred Units (NSLP) : The co intends to use all of the net proceeds from the offering to repay a portion of the indebtedness outstanding under its revolving credit facility.

9:11 am S&P futures vs fair value: +5.00. Nasdaq futures vs fair value: +8.20. (:WRAPX) : The stock market is on track for a modestly higher open as futures on the S&P 500 trade five points above fair value. Index futures have spent the night in a slow advance and they currently hover near their highs.

The overnight session was very quiet with trading volumes a bit below average as Japan's Nikkei and UK's FTSE were both closed for holidays. Meanwhile, most of the remaining Asian markets posted gains while European indices trade in the green at this juncture.

Domestically, investors have received a decent batch of quarterly reports, but most were from companies with a limited market impact. That being said, Comcast (CMCSA 59.70, +1.29) beat earnings and revenue estimates while Tyson Foods (TSN 40.67, +0.18) beat bottom-line expectations, but missed revenue estimates and guided lower.

Today's economic data will be limited to the 10:00 ET release of the Factory Orders report for March (Briefing.com consensus 2.1%).

Treasuries hold modest gains with the 10-yr yield lower by two basis points at 2.10%.

9:10 am Sally Beauty comments on reports of unusual activity involving payment cards at US locations: 'working with law enforcement and have launched a comprehensive investigation to gather facts.' (SBH) : Co is currently investigating reports of unusual activity involving payment cards used at some U.S. Sally Beauty stores. Co stated: "Since learning of these reports, we have been working with law enforcement and our credit card processor and have launched a comprehensive investigation with the help of a leading third-party forensics expert to aggressively gather facts while working to ensure our customers are protected. Until this investigation is completed, it is difficult to determine with certainty the scope or nature of any potential incident."

9:10 am Lake Share Gold reports expansion of 144 and new underground exploration program at the Bell Creek Complex (LSG) :

• Co announced an expanded exploration program at the 144 Gap Zone, the launch of a new program to explore the 144 Trend to the southwest towards the 144 North and 144 South areas, as well as the addition of a new underground exploration program at the Bell Creek Complex.
• CEO said: "Success drives growth and that is what we are seeing at both the 144 Gap Zone and Bell Creek. Over the last few years, our business has been focused on stabilizing our operations and achieving our key performance targets, generating cash, reducing debt and building overall financial strength."
• "We have achieved success in all of these areas. We are now in a position to pursue growth, both in terms of building out mine life and pursuing opportunities to grow production. We have already been successful in establishing a substantial zone of gold mineralization at the 144 Gap, and in significantly increasing reserves at Bell Creek."
• The new work at 144 is expected to add $7.0 mln to the co's exploration expenditures in 2015, while the additional drilling and development at Bell Creek will involve ~$6.0 mln of new expenditures.
  

9:08 am Canadian Pacific confirms that Mark Erceg has been appointed EVP and CFO effective May 18, 2015 (CP) : Erceg joins from Masonite International (DOOR) where he had been Executive Vice-President and Chief Financial Officer since 2010. Effective May 18, Mr. Erceg will take over day-to-day CFO duties with outgoing CFO, Mr. Bart Demosky, supporting a smooth and seamless transition until his own departure on May 31.

9:07 am Masonite International misses by $0.15, misses on revs; revises conference call timing (DOOR) : Reports Q1 (Mar) loss of $0.10 per share, $0.15 worse than the Capital IQ Consensus Estimate of $0.05; revenues rose 2.8% year/year to $434.5 mln vs the $453.58 mln consensus.

• "Despite significant foreign exchange headwinds we had a very strong quarter with Adjusted EBITDA nearly doubling versus a year ago," said Fred Lynch, President and CEO. "A modest improvement in the U.S. housing market, our on-going disciplined cost control and our focus on strategic growth initiatives are all helping us realize a more appropriate value for our high quality products and services."
  
• Earnings conference call will now be held on Tuesday, May 5th at 10:00am ET.
  

9:03 am CytRx announces an interim analysis from its two ongoing phase 1b aldoxorubicin combination studies; combinations appear to be well tolerated, and even at the lowest dose level of aldoxorubicin, impressive tumor responses have been observed so far in patients with bone cancer (CYTR) : Co announces an interim analysis from its two ongoing phase 1b aldoxorubicin combination studies pairing aldoxorubicin with either gemcitabine or ifosfamide. Both studies combine standard doses of gemcitabine or ifosfamide with escalating doses of aldoxorubicin. The combinations appear to be well tolerated, and even at the lowest dose level of aldoxorubicin (170 mg/m2), impressive tumor responses have been observed so far in patients with bone cancer (osteosarcoma) and a variety of soft tissue sarcomas. As such, aldoxorubicin has the potential when used in combination with other cancer agents to become an important new weapon against chemotherapy resistant cancers.

9:03 am Radiant Logistics has filed a new $100 mln universal shelf registration statement, which will replace its existing $75 mln universal shelf registration that will expire on May 11, 2015. (RLGT) : At the present time, Radiant has no specific plans to issue securities under the registration statement. If and when the registration statement is declared effective by the SEC, Radiant will be able to offer and sell, from time to time, up to $100 million of securities such as senior, subordinated or convertible debt securities, warrants, units, common and preferred stock, or any combination thereof.

9:03 am MEI Pharma's mitochondrial inhibitor ME-344 shows enhanced anti-tumor activity in combination with Tyrosine-Kinase inhibitor in pre-clinical studies (MEIP) :

• Co announced new pre-clinical data showing mitochondria-specific effects of the Company's investigational drug candidate ME-344 in cancer cells, including significantly enhanced anti-tumor activity when combined with a tyrosine-kinase inhibitor (:TKI).
• In addition, a recently published study found ME-344 to be a potent inhibitor of mitochondrial oxidative phosphorylation (:OXPHOS) complex I, a direct molecular target.
  

9:02 am FirstService subsidiary Colliers International acquires CASE Commercial Real Estate Partners; financial details not disclosed (FSRV) :

• Co announced today that its subsidiary, Colliers International has acquired CASE Commercial Real Estate Partners, a independent commercial real estate advisory firm in Texas.
• CASE will immediately rebrand to Colliers International and its key professionals including Tom Sutherland, John Conger, Jim Eagle and John Bowles, as well as their team, will join the firm. Terms of the transaction were not disclosed.

9:02 am Sorrento Therapeutics reports positive results from recently analyzed pharmacokinetic (:PK) data from its TRIBECA registrational trial (SRNE) : Data analysis suggests that Cynviloq meets the bioequivalence (:BE) criteria for both total and unbound paclitaxel. The ongoing safety assessment from treated patients continues to reveal no unexpected adverse events and the safety data is consistent with the toxicity profile reported in the literature with albumin-bound paclitaxel.

9:02 am ISIS Pharm licenses ISIS-FXI Rx to Bayer (BAYRY) to develop and commercialize for the prevention of Thrombosis; eligible to receive up to $155 mln in near-term payments (shares halted) (ISIS) : Under terms of the agreement, Isis is eligible to receive up to $155 mlnin near-term payments, including an immediate $100 mln up-front payment and a $55 ln payment upon advancement of the program following a Phase 2 study in patients with compromised kidney function. Isis is also eligible to receive milestone payments as the drug advances toward the market. In addition, Isis is eligible to receive tiered royalties in the low to high twenty percent range on gross margins of ISIS-FXIRx. After completion of ongoing activities at Isis, Bayer will assume all global clinical development as well as worldwide regulatory and commercialization responsibilities for ISIS-FXIRx.

As part of the clinical development program, Bayer plans to evaluate the therapeutic profile of ISIS-FXIRx in patients for whom currently available anticoagulants may not be used, such as in patients with a high risk of bleeding due to multiple co-morbidities.

9:01 am Delta Air Lines reports April PRASM decreased 3.5% as stable domestic unit revenues were offset by foreign exchange pressure and lower surcharges in international markets (DAL) : Consolidated passenger unit revenue (:PRASM) for the month of April decreased 3.5 percent year over year, as stable domestic unit revenues were offset by foreign exchange pressure and lower surcharges in international markets.

• RPM Total System +1.8% m/m; 
• ASM Total Systems +3.7% m/m; 
• Load Factor Total System +2.5%
  

9:00 am Masonite International announces that its EVP and CFO, Mark Erceg, will leave effective May 18, 2015 to become EVP and CFO of Canadian Pacific Railway (CP) (DOOR) :

• Co announced that its Executive Vice President and Chief Financial Officer, Mark Erceg, will leave the company effective May 18, 2015 to become the Executive Vice President and Chief Financial Officer of Canadian Pacific Railway (CP). 
• The company has undertaken a process to replace Erceg.
  

8:59 am On the Wires (:WIRES) :

• FMC Corporation (FMC) announced that Jaime Gomez-Arnau has been elected a vice president of FMC Corporation by the Board of Directors. Gomez-Arnau was most recently president and CEO of Cheminova
• MDU Resources Group, Inc. (MDU) and Calumet Specialty Products Partners, L.P. (CLMT) announced that the Dickinson, North Dakota-based Dakota Prairie refinery, the first greenfield fuels refinery built in the U.S. in nearly 40 years, has commenced operations. The facility has begun producing diesel fuel and is expected to begin sales of diesel as the plant ramps up during May.
• The Enterprise Wireless Alliance (EWA) and pdvWireless (PDVW) announce that they have filed proposed rules at the Federal Communications Commission (:FCC) related to their joint Petition for Rulemaking to realign the Part 90 land mobile radio 900 MHz band. The realignment would create an allocation to address the broadband needs of critical infrastructure and private enterprise entities, including priority access.
• DynaEnergetics, a business of Dynamic Materials Corporation (BOOM) announced it has entered a distribution agreement with W.T. Bell International. Under the agreement, DynaEnergetics becomes the exclusive global distributor of W.T. Bell's product portfolio, which includes a spectrum of cutting tools for both offshore and land-based operations. The products will be sold across DynaEnergetics' global sales and distribution network
• A. Schulman, Inc. (SHLM) announced plans to move its EMEA shared service center to Poznan, Poland from Londerzeel, Belgium. Plans call for this phased relocation to be completed by May 2016. The Company anticipates the cost of this actio
• NXT-ID, Inc. (NXTD) announced a new relationship with Wallaby Financial, a subsidiary of Bankrate, (RATE). Under the terms of the agreement, NXT-ID's Wocket Smart Wallet will become the preferred wallet solution to Wallaby Card Beta List members.
• Verisk Insurance Solutions, a Verisk Analytics (VRSK) business, announces the addition of Montana, Oklahoma, and Wyoming to its FireLine wildfire risk management service
• Biocept, Inc. (BIOC) announced the launch of its c-MET amplification detection test utilizing a blood-based "liquid biopsy." This diagnostic assay has the potential to help physicians identify which patients may be receptive to certain gastric and non-small-cell lung cancer (:NSCLC) treatments.
• Chesapeake Energy (CHK) announced that Frank Patterson will join the company as Executive Vice President -- Exploration, Land and Subsurface Technology. Patterson replaces John Kapchinske, who recently retired from the company.
• Flex Pharma (FLKS) announced that its proprietary formulation has earned certification from NSF International's Certified for Sport program.
  Iteris (ITI), as part of the Daniel Consultants team, was selected by the District of Columbia Department of Transportation, to upgrade and implement an Adaptive Traffic Signal Control system on three major arterials in the Washington, D.C. area. Iteris' contract value for this work is approximately $714,000 and is expected to commence immediately.
  
• HealthInnovations, an Optum business and UnitedHealth Group (UNH) company, has received a 2015 U.S. Patent for an air conduction hearing test kit used by primary care physicians and other health professionals. The hearing test kit is an affordable and easy-to-use resource to test for hearing loss
  
• MobileIron (MOBL) announced a partnership with Tangoe (TNGO) to offer customers one-stop-shopping for globally available mobility managed services with flexible integration points to enterprise mobility management capabilities.
  
• Castlight Health (CSLT) announced that Jonathan Rende has joined its executive leadership team as chief research and development officer. Most recently, Rende was the executive vice president of products and marketing at Keynote, a global leader in cloud-based testing, monitoring, and analytics for mobile and web applications.
  
• Intuit (INTU) announced it is investing in a new $100 million fund that will let small businesses use their QuickBooks Online data to access low-rate loan offers. The fund will include investment from Intuit and third parties.
  
• Engaged Capital issued a response to Rovi's (ROVI) announcement of new compensation arrangements for its independent directors; continues to urge shareholders to vote on the WHITE proxy card to elect David Lockwood, Raghavendra Rau, and Glenn W. Welling
  

8:57 am Ophthalix has signed a non-binding term sheet to acquire Israel-based Improved Vision Systems; terms not disclosed (OPLI) : I.V.S. develops breakthrough medical device technologies to improve sight, diagnose and offer therapy for a variety of ocular diseases including glaucoma, age related macular degeneration (AMD), diabetic retinopathy and oculo-motor pathologies. OphthaliX announced it is committed to continuing its development program for its drug candidate CF101, a neuro-protective and anti-inflammatory drug, for the treatment of glaucoma. Patients are currently enrolled for the second segment of the Phase II study and are treated orally with CF101.

8:55 am S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +9.20. (:WRAPX) : The S&P 500 futures trade six points above fair value.

Markets in the Asia-Pacific region finished Monday mostly higher, bolstered by Wall Street's strong showing on Friday and a downwardly revised HSBC manufacturing PMI reading out of China that stirred the pot of monetary policy stimulus speculation.

• In economic data: 
  • China's Final April HSBC Manufacturing PMI 48.9 (expected 49.4; prior 49.2) 
  • India's April HSBC Manufacturing PMI 51.3 (expected 52.5; prior 52.1) 
  • South Korea's April HSBC Manufacturing PMI 48.8 (expected 49.0; prior 49.2) and March Current Account KRW10.39 bln (prior KRW6.44 bln) 
  • Australia's March Building Approvals +2.8% month-over-month (expected -2.0%; prior -1.6%); March Private House Approvals +1.1% (prior +0.2%); ANZ Job Advertisements +2.3% month-over-month (prior -1.3%); and April M1 Inflation Gauge +0.3% month-over-month (prior +0.4%) 
  • Singapore's Q1 Unemployment Rate dropped to 1.8% from 1.9% (expected 2.0%) 

------

• Japan's Nikkei closed for Greenery Day 
• Hong Kong's Hang Seng ended Monday flat. Individual standouts included New World Development Co (+5.2%), Wharf Holdings Ltd (+4.8%), and Sun Hung Kai Properties (+4.1%). Leading decliners included Hang Lung Properties (-3.6%), China Resources Land (-2.8%), and Cathay Pacific Airways (-2.0%). Out of the 50 index members, 34 ended higher, 14 finished lower, and 2 were unchanged. 
• China's Shanghai Composite increased 0.9%, rebounding from an early 1.2% decline that followed the report of the final HSBC Manufacturing PMI reading for April being revised down to 48.9 from 49.2. A number below 50 denotes contraction. The turn in the market was catalyzed by the expectation of more monetary policy stimulus being provided. The industrial sector (+2.2%) helped pace gains for the Chinese market.

Major European indices trade higher across the board with Germany's DAX (+1.5%) in the lead. Elsewhere, according to AFP, Greek Finance Minister Yanis Varoufakis has been sidelined from discussions with European creditors. Meanwhile Prime Minister Alexis Tsipras' spokesperson said that "everything" is going to be decided this week.

• Participants received several data points: 
  • Eurozone Final April Manufacturing PMI 52.0 (consensus 51.9; prior 51.9) while May Sentix Investor Confidence fell to 19.6 from 20.0 (expected 19.8) 
  • Germany's Final April Manufacturing PMI 52.1 (expected 51.9; previous 51.9) 
  • France's Final April Manufacturing PMI 48.0 (consensus 48.4; prior 48.4) 
  • Italy's Final April Manufacturing PMI 53.8 (expected 53.5; prior 53.3) 
  • Spain's Final April Manufacturing PMI 54.2 (consensus 54.3; last 54.7) 
  • Swiss April SVME PMI 47.9 (consensus 47.0; prior 47.9) 

------

• France's CAC trades higher by 1.2% with growth-sensitive names in the lead. ArcelorMittal, Alstom, Solvay, and Lafarge are up between 2.0% and 2.4%. Utilities trade in mixed fashion with Veolia Environnement up 3.7% and Electricite de France down 0.9%. 
• Germany's DAX has gained 1.5% with all but two names in the green. Basic materials outperform with K+S, HeidelbergCement, and ThyssenKrupp showing gains between 2.9% and 4.5%. Volkswagen lags, trading lower by 0.3%. 
• UK's FTSE is closed for Early May Bank Holiday.

8:46 am Silver Bull updates Its NI43-101 resource to 4.670 bln pounds of zinc, including 2.426 bln pounds at an average grade of 11% zinc for the Sierra Mojada Project, Mexico (SVBL) :

• A "Measured and Indicated" Global resource of 58.7 million tonnes grading at 3.6% zinc and 50 g/t silver for 4.670 billion pounds of zinc and 90.8 million ounces of silver.
• An open pittable high grade "Zinc Zone" within the Global resource of 10.03 million tonnes at an average grade of 11% Zinc at a 6% cutoff for 2.426 billion pounds of zinc.
• An open pittable high grade "Silver zone" within the Global resource of 19 million tonnes at an average grade of 102.5 g/t at a 50g/t cutoff for 62.6 million ounces of silver.
• An additional underground "Measured and Indicated" resource outside of the open pit resource of 1.9 million tonnes at an average grade of 9.4% Zinc at a 6% cutoff for 388.5 million pounds of zinc.
  

8:41 am MCG Capital: HC2 Holdings (HCHC) has sent a letter to MCG Capital proposing to acquire it in a cash and stock transaction valued at $5.00/share (MCGC) : The consideration that HC2 is offering consists of (a) at the option of the MCG stockholders, either (i) .434 of a share of HC2 common stock (valued at $4.774 using the May 1 closing price of HC2's common stock), or (ii) .191 of a share of a newly created class of HC2 cumulative perpetual preferred stock (which fractional amount has an initial liquidation preference of $4.774), with the proposed terms described in the proposal, and (b) $0.226 in cash, on the terms and conditions described in the proposal. HC2 has delivered what it believes to be a Superior Offer (as defined in the agreement for the transaction with PennantPark Floating Rate Capital (PFLT)) to the PennantPark Transaction. Highlights from the letter include:

• "..we believe that the MCG board of directors can and must, consistent with its fiduciary duties and its obligations under Section 6.4 of the PennantPark Agreement, make a determination that our proposed transaction is a "Superior Proposal." Thereafter, again consistent with the PennantPark Agreement, we are seeking prompt negotiations to complete a successful transaction with HC2...We want to emphasize to you the seriousness of this proposal and our commitment to completing a transaction with you. We are prepared to engage immediately: our advisors stand ready to commence work, our due diligence will be brief and limited, and our proposed transaction agreement will be substantially similar to the PennantPark Agreement... We would appreciate your response by May 6, 2015."
  

8:39 am Health Net beats by $0.05, misses on revs; raises FY15 EPS guidance (HNT) : Reports Q1 (Mar) earnings (combined Western Region and Government Contracts) of $0.74 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.69; revenues rose 25.9% year/year to $3.89 bln vs the $4.09 bln consensus.

• Co issues in-line guidance for FY15, raises EPS (combined Western Region and Government Contracts) to $3.25-3.35 from $3.15-3.25, excluding non-recurring items, vs. $3.26 Capital IQ Consensus Estimate. 
  
• Total enrollment in the Western Region at March 31, 2015 was 3.2 million members, an increase of approximately 20 percent from enrollment at March 31, 2014. 
• The Western Region commercial MCR was 82.1 percent in the first quarter of 2015 compared with 80.9 percent in the first quarter of 2014 and 84.6 percent in the fourth quarter of 2014
  

8:38 am Auris Medical provides update on the clinical development of its AM-111 product candidate (EARS) : The co is currently preparing two pivotal clinical trials with AM-111 in the treatment of idiopathic sudden sensorineural hearing loss (:ISSNHL), which the Company estimates to be the most frequent type of ASNHL. The Company expects to start enrollment in the HEALOS trial in the third quarter of 2015 and in the ASSENT trial in the first quarter of 2016. In addition, Auris Medical is preparing a Phase 2 trial with AM-111 in the treatment of surgery-induced hearing loss called REACH. The Company expects to start enrollment in REACH in the third quarter of 2016.

• In addition, the Company plans to conduct ASSENT in the U.S. in order to test AM-111 in a second ISSNHL trial with a similar number of patients as for HEALOS. The principal enrollment criteria will be identical to HEALOS, and patients will also be randomized to receive a single dose of either AM-111 0.4 mg/mL, AM-111 0.8 mg/mL or placebo by intratympanic injection. Unlike HEALOS, patients in ASSENT may receive a course of oral corticosteroid as background therapy. The Company plans to discuss certain aspects of the study protocol with the FDA.
  

8:38 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: DCI -2%, KOS -1.9%, MGM -1.9%, BWP -1.7%, HYH -1.7%, WBK -1.3%, SYY -1.3%, ARCC -1.2%, NMM -0.8%, D -0.6%, HSIC -0.5%

M&A news: SYT -6.8% (pulling back following M&A speculation on Friday)


Other news: NBG -4.8% (little progress in Greece negotiations over the wkend), EMES -4.5% (CFO departs for personal reasons), VALE -2.1% (modest pull back following last week's advances), ARP -1.8% (files for $600 mln mixed securities shelf offering), CNHI -1.6% (small pull back following recent strength last week), ADPT -1.6% (proposed common stock offering of 2.1 mln shares), STM -1% (cont weakness)

Analyst comments: ANF -2.1% (initiated with a Underperform at RBC Capital Mkts), SCTY -1.2% (downgraded to Neutral from Outperform at Robert W. Baird), BUD -0.5% (downgraded to Underperform from Outperform at Credit Agricole)

8:34 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: ARRY +13.9%, SCOK +6.9%, BSFT +4.9%, ON +4.8%, CTSH +4.4%, PETS +3.3%, DO +2.5%, RLGY +2.5%, CMCSA +1.7%, BRK.B +1.1%, EXAS +1%, CVC +0.5%

M&A news: CYNI +24.9% (entered into a definitive agreement to be acquired by Ciena (CIEN) for approximately $4.75 per share of Cyan common stock),FRM +19.1% (has received a written non-binding indication of interest from a strategic acquiror for a transaction in which all Furmanite stockholders would receive cash for their shares, at a substantial premium to current market prices),NYT +4.4% (Michael Bloomberg may bid $5 bln for NYT, according to Fox Business)

Other news: IMNP +4.9% (Immune Pharma and STC Biologics announce strategic partnership to accelerate development of NanomAbs),BLRX +4.7% (successful completion dose escalation stage in its ongoing Phase 2 study of BL-8040),NETE +3.4% (entered into a Securities Purchase Agreement to offer and sell 5,500 shares of newly-issued Series A Convertible Preferred Stock having an aggregate offering price of $5.5 mln; also announced 2 other financings),ARRS +2.8% (Arris and Tivo announce partnership on an integration of TiVo software and cloud-based services with ARRIS set-top boxes),ALU +2.6% (in symp with NOK, which was upgraded today),TIVO +2.1% (Arris and Tivo announce partnership on an integration of TiVo software and cloud-based services with ARRIS set-top boxes),CTIC +1.7% ( Baxalta Incorporated discloses 8.7% passive stake in 13G filing),MDR +1.1% (received a large contract amendment from Al-Khafji Joint Operations for a platform in the Hout field),TSLA +0.9% (Edison International (EIX) teams up with Tesla for battery storage projects),WYNN +0.7% (Macau Gaming Inspection and Coordination Bureau reports April gross gaming rev -39% YoY)

Analyst comments: CBYL +9% (initiated with a Outperform at Wedbush; tgt $21),QTM +3.4% (upgraded to Outperform from Market Perform at Northland Capital),WLL +3% (upgraded to Overweight from Equal-Weight at Morgan Stanley),NOK +2.5% (upgraded to Buy at Kepler),JD +2% (target raised to $44 at Oppenheimer),WETF +1.5% (upgraded to Outperform from Mkt Perform at Keefe Bruyette),TWTR +1.4% (upgraded to Hold from Sell at Stifel),LNKD +1.4% (upgraded to Buy from Hold at Argus),WFM +1.1% (target raised to $65 at Oppenheimer),AMZN +0.8% (target raised to $525 at Oppenheimer)

8:33 am McDonald's announces initial steps of turnaround plan, confirms restructuring (MCD) : Co announced the initial steps of the Company's turnaround plan including a restructuring of McDonald's worldwide business and financial updates. The enhancements to McDonald's operating approach will be accompanied by plans to further optimize the Company's restaurant ownership mix, deliver G&A savings and accelerate cash returned to shareholders.

• Specifically, the Company expects to: Refranchise 3,500 restaurants by the end of 2018, accelerating the pace of refranchising and increasing the global franchised percentage from the current 81% to about 90%. This marks a significant step forward from our prior plan to refranchise at least 1,500 restaurants by 2016; 
• Deliver ~$300 million in net annual G&A savings, most of which will be realized by the end of 2017, in connection with the Company's organizational restructure, refranchising strategy, and more stringent discipline around spending throughout the organization; and 
• Return $8 to $9 billion to shareholders in 2015 and to reach the top end of its 3-year $18 to $20 billion cash return to shareholders target by the end of 2016.
  

8:33 am Campus Crest Communities has entered into an agreement with the Clinton Group in connection with the Company's 2015 Annual Meeting of Shareholders (CCG) : Under the terms of the agreement, Campus Crest has appointed Raymond C. Mikulich and Randall H. Brown, previously nominated by Clinton, to the Company's Board of Directors and has also appointed Curtis B. McWilliams to the Board. With the appointment of Messrs. McWilliams, Mikulich and Brown, the Campus Crest Board of Directors will expand to 8 directors, all of whom are independent.

• Additionally, as part of the settlement agreement with Clinton, the Board announced that it has changed the composition of the existing three person Transaction Committee which has been overseeing the ongoing strategic alternatives process. The Transaction Committee will be comprised of Curtis McWilliams, Raymond Mikulich and Richard Kahlbaugh and will be chaired by Mr. McWilliams. Further, as part of the agreement, Campus Evolution Villages, LLC has been invited to sign a non-disclosure agreement and participate in the Board's strategic alternatives process.
• The Company expects to provide an update on its first quarter 2015 conference call, which it expects to hold on May 29, 2015. 
  
• The Company also announced that the Board has finalized the retention of Alvarez & Marsal North America, LLC to support its ongoing efforts to improve financial and operational controls and efficiency, support the strategic alternatives process and deliver enhanced shareholder value. As part of Alvarez & Marsal's mandate, the Board has appointed David Coles as interim Chief Executive Officer and John Makuch as interim Chief Financial Officer.
  

8:32 am Patterson Companies announces acquisition of Animal Health International for ~$1.1 bln in cash - expects $20 -30 million of synergies; also has retained BofA Merrill Lynch to explore the potential sale of the medical business (PDCO) : The acquisition will more than double the size of Patterson's veterinary business. Concurrently, Patterson Companies also announced the potential sale of its medical rehabilitation business.

• Under terms of the definitive agreement, Patterson Companies will acquire all of Animal Health International's stock for approximately $1.1 billion in cash. Animal Health International generated sales and EBITDA of $1.5 billion and $68 million, respectively, during the 12 months ended March 2015. 
• The purchase price reflects a 16x trailing EBITDA multiple. Patterson Companies is financing the acquisition through a combination of a $1 billion unsecured term loan and a $500 million unsecured cash flow revolving line of credit. The initial interest rate under the credit agreement is expected to be LIBOR plus 200 basis points. 
• Patterson expects $20 million to $30 million of synergies to result from the Animal Health International acquisition, to be realized over a three-year period. The Company's debt to EBITDA ratio will rise to approximately 3.5x immediately after the acquisition. 
• Patterson intends to apply the proceeds from the potential sale of its medical business to reduce the Animal Health International acquisition debt. Transaction is expected to be neutral to fiscal year 2016 adjusted earnings per share, excluding one-time transaction costs and amortization. The Company anticipates the two transactions will lead to higher adjusted earnings per share beginning in fiscal year 2017. 
• Patterson has retained BofA Merrill Lynch to explore the potential sale of the medical business. Through the last 12 months ended January 2015, sales and adjusted operating income of the medical segment were $468 million and $64 million, respectively. 
• Management has determined that this unit, while well positioned in the marketplace, is not a core part of the Company's long-term growth strategy

8:32 am Micronet Enertec announces entrance into a three-year purchase agreement with a school bus fleet company for Micronet's A317 tablet; co expects first year orders may exceed $4 mln (MICT) : Management expects increased volumes for each of the following two years.

8:32 am Del Taco will report Q1 results on the morning of Monday, May 11 (TACO) :  

8:32 am AMC Networks beats by $0.22, beats on revs (AMCX) : Reports Q1 (Mar) earnings of $1.66 per share, excluding non-recurring items, $0.22 better than the Capital IQ Consensus Estimate of $1.44; revenues rose 27.5% year/year to $668.68 mln vs the $654.02 mln consensus.

8:31 am iBio announces award of a new patent xpanding the company's iBioModulator thermostable immunomodulator protein portfolio (IBIO) : Co announces the issue of a new US patent expanding the company's iBioModulator thermostable immunomodulator protein portfolio. The fundamental composition of matter claims grant iBio important exclusivity over new, modified carrier molecules derived from the co's proprietary iBioModulator thermostable immunomodulator protein system and their use with one or more target proteins or antigens. The commercial significance of these proprietary carriers is that they enable creation of high-performance vaccine candidates for difficult disease targets.

8:31 am Cisco Systems appoints Chuck Robbins as CEO, replacing John Chambers effective July 26, 2015 (CSCO) :

• Co announced that its Board of Directors has appointed Chuck Robbins as Chief Executive Officer effective July 26, 2015.
• Robbins was also elected to the Board of Directors of Cisco, effective May 1, 2015. John Chambers will assume the role of Executive Chairman on July 26, 2015, and will continue to serve as the Chairman of Cisco's Board.
• Robbins joined Cisco in 1997 and has moved quickly through the company's ranks. He most recently served as Cisco's senior vice president of worldwide operations.
  

8:30 am On the Wires (:WIRES) :

• In Japan, three Concentrix centers have been certified to the COPC Outsource Service Provider (:OSP) Standard, Release 5.1, bringing the company's total certified centers to 10. Concentrix is a subsidiary of Synnex (SNX)
  
• Quintiles (Q) announced the expansion of its bioanalytical laboratory services with the establishment of a GLP-compliant bioanalytical liquid chromatography-mass spectrometry laboratory. The laboratory, which is located in Oss, the Netherlands, will have extensive bioanalytical testing capabilities and will provide a European facility for Quintiles customers to conduct pharmacokinetics studies.
  
• CBRE Group, Inc. (CBG) announced that it has acquired CBRE-Columbia, a commercial real estate services firm that has served as CBRE's affiliate in Columbia, SC since 1996. With the acquisition of its Columbia affiliate, CBRE has now brought together all of its operations throughout South Carolina into a single, integrated, corporate-owned platform
  
• Intersect ENT, Inc. (XENT) announced that Health Care Service Corporation, has updated its sinus surgery coverage policy. HCSC will now cover PROPEL and PROPEL mini, steroid releasing sinus implants, as "medically necessary" for patients meeting the criteria for endoscopic sinus surgery
  
• Pernix Therapeutics Holdings, Inc. (PTX) announced that the new formulation of Zohydro ER (hydrocodone bitartrate) Extended-Release Capsules, CII, with BeadTek is now available in U.S. pharmacies. On January 30, 2015, the U.S. Food and Drug Administration (:FDA) approved this updated formulation that features BeadTek, a technology encompassing an indistinguishable mix of inactive beads, active immediate-release hydrocodone beads and active extended-release hydrocodone beads.
  
• Power Integrations (POWI) announced that Raja G. Petrakian has joined the company as Vice President, Operations. In this role Dr. Petrakian will oversee the company's global supply-chain and logistics functions
• Rite Aid Corporation (RAD) announced that an enhanced version of its award-winning loyalty program, wellness+, is now available to consumers, through company's participation in Plenti. Through Plenti Rite Aid will transition its existing loyalty program, of which there are nearly 25 million active members, to wellness+ with Plenti. As part of the Plenti coalition, Rite Aid will offer consumers numerous ways to earn Plenti points and use them for savings.
  
• NuVasive (NUVA) announced the launch of its Integrated Global Alignment platform. The Company believes this new platform marks a significant advancement in the historical approach to spine surgery by integrating procedural technology and tools into one platform to help address proper alignment. 
• Zillow Group (Z) announced it added more multifamily partners to the Zillow Rental Network in the past year than ever before, increasing new partnerships 84 percent year-over-year, from Q1 2014 to Q1 2015. 
  
• Inovalon (INOV) announced that it successfully delivered nearly 100 cloud-based, SaaS EDGE server solution implementations for clients operating Qualified Health Plans under the Affordable Care Act in 48 states ahead of the April 30 deadline for EDGE submissions to the Department of Health and Human Services
  

8:28 am S&P futures vs fair value: +5.40. Nasdaq futures vs fair value: +8.40. (:WRAPX) : U.S. equity futures continue holding modest gains with S&P 500 futures trading five points above fair value. Similar to futures, the Dollar Index (95.39, +0.09) has climbed overnight and currently trades near its best level of the day.  

However, the greenback strength has not stopped crude oil from rallying. The energy component is currently higher by 0.3% at $59.32/bbl.

Elsewhere, Treasuries hold slim gains with the 10-yr yield lower by a basis point at 2.10%.

8:23 am Vringo announces entrance into agreement with an institutional investor, to issue $12.5 mln of senior secured convertible notes (VRNG) : The senior secured convertible notes will be payable in 21 monthly installments, mature 21 months from issuance and will accrue interest at 8.0% per annum from the date of issuance.

• The Notes may be repaid, at Vringo's election, in either cash or, subject to certain conditions, shares of the company's common stock at a discount to the then-current market price. The Notes are also convertible from time to time, at the election of the holders, into shares of the company's common stock at a conversion price of $1.00 per share. 
• Co expects to use the proceeds from the convertible note to enhance its monetization efforts around the world for existing and upcoming monetization efforts.
  

8:19 am Acorn Intl announces shareholder resolutions adopted at extraordinary general meeting of shareholders (ATV) : The Company announced that, immediately following the EGM, its board of directors appointed Mr. Robert W. Roche to replace Mr. Don Dongjie Yang as the executive chairman and chief executive officer of the Company, and appointed Mr. Cosimo Borrelli and Mr. David Leung as members of the audit committee to fill the vacancies left by Mr. Steve Xiaodi Sun and Mr. Liang Lu. As a result of the vote, effective as of May 4, 2015, Mr. Don Dongjie Yang, Mr. Charlie Shiqiang Ban, Mr. Steve Xiaodi Sun, and Mr. Liang Lu are no longer directors of the Company and Mr. David Leung, Mr. Cosimo Borrelli, and Mr. David Naphtali are members of the Company's board of directors, which consists of six members.

8:18 am European Markets Update: CAC +1.0%, DAX +1.3%, FTSE CLOSED (:SUMRX) : Major European indices trade higher across the board with Germany's DAX (+1.3%) in the lead. Elsewhere, according to AFP, Greek Finance Minister Yanis Varoufakis has been sidelined from discussions with European creditors. Meanwhile Prime Minister Alexis Tsipras' spokesperson said that "everything" is going to be decided this week.

• Participants received several data points: 
• Eurozone Final April Manufacturing PMI 52.0 (consensus 51.9; prior 51.9) while May Sentix Investor Confidence fell to 19.6 from 20.0 (expected 19.8) 
• Germany's Final April Manufacturing PMI 52.1 (expected 51.9; previous 51.9) 
• France's Final April Manufacturing PMI 48.0 (consensus 48.4; prior 48.4) 
• Italy's Final April Manufacturing PMI 53.8 (expected 53.5; prior 53.3) 
• Spain's Final April Manufacturing PMI 54.2 (consensus 54.3; last 54.7) 
• Swiss April SVME PMI 47.9 (consensus 47.0; prior 47.9) 

------

• France's CAC trades higher by 1.0% with growth-sensitive names in the lead. ArcelorMittal, Alstom, Solvay, and Lafarge are up between 2.0% and 2.4%. Utilities trade in mixed fashion with Veolia Environnement up 3.7% and Electricite de France down 0.9%. 
• Germany's DAX has gained 1.3% with all but two names in the green. Basic materials outperform with K+S, HeidelbergCement, and ThyssenKrupp showing gains between 2.9% and 4.5%. Volkswagen lags, trading lower by 0.3%. 
• UK's FTSE is closed for Early May Bank Holiday.
  

8:13 am Solar Power announces entry into a definitive purchase agreement and option agreement with Yes Yield Investments Limited relating to a new private placement of up to $50 mln (SOPW) : Under the terms of the Definitive Agreements, SPI agreed to issue to the Purchaser a total of approximately $25 million of SPI's common stock at a price of $2.70 per share. SPI also granted to the Purchaser options to purchase a total of approximately $25 million of SPI's common stock at a price of $2.70 per share.

8:09 am SinoCoking reports sales of $5 mln in first full quarter of Syngas production (SCOK) :

• Co produced and shipped 51 million cubic meters of syngas to its first three customers, generating sales of more than RMB 31 million, or about $5 million using current exchange rates. According to the company, the selling price for syngas delivered during the quarter averaged $0.10 per cubic meter. 
• SinoCoking's plan for the continued buildout of aboveground and underground syngas production facilities will expand total output and is expected to generate "significantly higher sales" in subsequent quarters. He noted that all of the recorded syngas sales in the first calendar quarter were generated by the first 25,000 cubic meter per hour production facility. A second aboveground facility of similar size, whose construction was completed in early April, is expected to start deliveries to customers in May and reach full capacity of 25,000 cubic meters of syngas per hour by the end of June 2015. Additionally, the company has just begun the testing phase on its first Underground Coal Gasification (:UCG) unit, which is expected to begin commercial operations with an output of 10,000 cubic meters of syngas per hour in July 2015 and scale up to a production capacity of 60,000 cubic meters per hour by December 2015.
  

8:07 am Dynatronics announces $4 mln private placement (DYNT) :

• Co announced that it has entered into definitive agreements to raise ~$4 mln in a private placement financing led by Prettybrook Partners and certain of its affiliates, a strategic private equity investor focused on the healthcare industry. 
• The financing will provide Dynatronics with additional capital to promote organic growth and pursue potential strategic acquisitions.
  

8:06 am Ocera Therapeutics announces that Rajiv Patni, M.D., Chief Development Officer, has decided to step down from his position for personal reasons, effective June 1, 2015 (OCRX) : The company's former chief development and chief medical officer, Franck Rousseau, M.D., who has been a consultant with Ocera since his departure, will lead the company's clinical development efforts on an interim basis.

8:04 am PetMed Express misses by $0.01, beats on revs; raises quarterly dividend 5.9% to $0.18/share (PETS) : Reports Q4 (Mar) earnings of $0.25 per share, $0.01 worse than the Capital IQ Consensus of $0.26; revenues rose 2.9% year/year to $50 mln vs the $49.17 mln consensus. 

• Co raises dividend $0.01 (5.9%) to $0.18/share
• "For fiscal 2016 we are focusing on improving our marketing efforts to grow sales and profitability."
  

8:04 am Kosmos Energy misses by $0.11, misses on revs (KOS) : Reports Q1 (Mar) loss of $0.21 per share, $0.11 worse than the Capital IQ Consensus Estimate of ($0.10); revenues fell 44.1% year/year to $132.6 mln vs the $169.54 mln consensus.

• Highlights for the quarter ended March 31, 2015, include:
• Sold 1.9 million barrels of oil, net to Kosmos
• Increased gas exports from Jubilee to ~75 MMcfpd by quarter end
• Completed more than 55% of the development of the TEN project
• Safely drilled the CB-1 exploration well
• Reaffirmed borrowing base under the reserve-based lending facility and included TEN

CEO says, "Kosmos is off to a good start in 2015."

8:03 am Arris and Tivo Inc. (TIVO) announce partnership on an integration of TiVo software and cloud-based services with ARRIS set-top boxes (ARRS) : Cos announced a partnership to bring the TiVo experience to ARRIS customers by integrating TiVo software and cloud-based services with ARRIS set-top boxes. The first product of this collaboration is the DCX3635 Video Gateway with TiVo.

8:03 am Sysco misses by $0.11, misses on revs (SYY) : Reports Q3 (Mar) earnings of $0.30 per share, $0.11 worse than the Capital IQ Consensus Estimate of $0.41; revenues rose 4.2% year/year to $11.75 bln vs the $11.97 bln consensus.

Update on pending U.S. Food Merger
A hearing on the Federal Trade Commission's motion for a preliminary injunction is scheduled to begin May 5 in the U.S. District Court for the District of Columbia. The Company believes the completion of its pending merger with US Foods will ultimately help it provide better service to its customers at a lower cost by becoming more efficient, innovative and competitive.

8:03 am Alaska Air reports April 2015 operational results; Air Group reports 9.8% y/y increase in traffic (ALK) :

• Air Group reported a 9.8 percent increase in traffic on a 13.2 percent increase in capacity compared to April 2014. Load factor decreased 2.5 points to 83.6 percent.
• Alaska Airlines- Mainline Alaska reported a 9.9 percent increase in traffic on a 13.7 percent increase in capacity compared to April 2014. Load factor decreased 2.9 points to 83.9 percent.
• Horizon reported an 8.8 percent increase in traffic on an 8.8 percent increase in capacity compared to April 2014.
  

8:03 am European Yields (BONDX) : Yields Follow Through Higher 

• Last week's sell-off in European sovereign debt continued on Monday as European Manufacturing PMI's came out mixed
• The April Manufacturing PMI for the eurozone was 52.0, slightly ahead of expectations and higher than the 51.9 reading from March
• Individual country Manufacturing PMI's:
• France: 48.0 versus 48.4 prior
• Germany: 52.1 versus 51.9 prior
• Italy: 53.8 versus 53.3 prior
• Spain: 54.2 versus 54.3 prior
• Yield check:
• France, 10-yr OAT: +5 bps to 0.68%
• Germany, 10-yr Bund: +3 bps to 0.40%
• Greece, 10-yr note: +5 bps to 10.45%
• Italy, 10-yr BTP: +2 bps to 1.51%
• Portugal, 10-yr note: +1 bp to 2.10%
• Spain, 10-yr Bono: -2 bps to 1.47%
• U.K., 10-yr Gilt: +1 bp to 1.86%

8:02 am Ares Capital misses by $0.03 (ARCC) : Reports Q1 (Mar) earnings of $0.37 per share, $0.03 worse than the Capital IQ Consensus Estimate of $0.40. Co reported net investment income of $121.7 million, or $0.39 per share.

• Co announced that its Board of Directors has declared a second quarter dividend of $0.38 per share, payable on June 30, 2015 to stockholders of record as of June 15, 2015.
  

8:02 am Entercom beats by $0.03, reports revs in-line (ETM) : Reports Q1 (Mar) earnings of $0.04 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.01; revenues rose 0.3% year/year to $78.4 mln vs the $77.75 mln consensus. 

• Adjusted EBITDA decreased 8% to $13.9 million.
  

8:02 am AutoNation announces April, 2015 sales of 27,155 new vehicles, an increase of 6% Y/Y (AN) : April 2015 reported retail new vehicle unit sales for AutoNation's operating segments were:

•  8,666 for Domestic, up 10% versus Y/Y, 
• 12,611 for Import, down 2% versus Y/Y,
• 5,878 for Premium Luxury, up 19% Y/Y. 
• On a same-store basis, reported retail new vehicle unit sales in April 2015 were up 4% Y/Y
  

8:01 am Dow Chemical announces streamlining actions ahead of its Dow Chlorine Products transaction; to reduce ~3% of global workforce (DOW) : The actions will further accelerate Dow's value growth and productivity targets, and will result in a reduction of approximately 1,500 -- 1,750 positions, or approximately 3 percent of the global workforce.

• In parallel, the Company is also announcing additional minor adjustments to its asset footprint to enhance competitiveness. The Company will take charges totaling approximately $330 million-$380 million in the second quarter of 2015 for asset impairments, severance and other costs related to these measures, which are expected to be completed during the next two years. 
• Once fully implemented, these actions are expected to result in approximately $300 million of annual operating cost savings. 
• In parallel, minor asset footprint adjustments will be made to select manufacturing facilities. The facilities impacted represent less than one percent of the Company's net property value and include minor consolidation and shut downs in response to changing market dynamics and to position the relevant businesses for long-term growth
  

8:01 am Medtronic announces clearance from the FDA for expanded indications of specific StealthStation electromagnetic surgical navigation system instruments (MDT) :  

8:01 am BioTime: Cell Cure Neurosciences announces preclinical efficacy data demonstrating OpRegen preserves vision (BTX) :

• Co and its subsidiary Cell Cure Neurosciences Ltd. (Cell Cure) announced that preclinical data demonstrating that Cell Cure's product candidate, OpRegen, preserved vision and retinal structure when transplanted into the leading animal model of retinal disease, will be presented at the Association for Research in Vision and Ophthalmology (:ARVO) 2015 Annual Meeting taking place May 3-7, 2015, in Denver, Colorado. OpRegen consists of animal product-free retinal pigment epithelial (RPE) cells with high purity and potency.
  

8:00 am Intersect ENT announces positive coverage decision by Health Care Service Corp. (XENT) : Co announces that Health Care Service Corp., the country's largest customer owned health insurer, has updated its sinus surgery coverage policy. HCSC will now cover PROPEL and PROPEL mini, steroid releasing sinus implants, as "medically necessary" for patients meeting the criteria for endoscopic sinus surgery.

7:59 am On the Wires (:WIRES) :

• Pacific Biosciences of California (PACB)  announced that BGI has purchased its first PacBio RS II instrument and plans to purchase additional units in order to integrate Single Molecule, Real-Time (SMRT) Sequencing into its global service business.
• CME Group (CME) announced that April 2015 volume was 252 million contracts, down 2 percent from April 2014. Of the total volume, 87 percent was traded electronically. April 2015 volume averaged 11.5 million contracts per day, down 6 percent from April 2014.

7:58 am SolarEdge Technologies announces a PV storage distribution collaboration with Tesla Motors (TSLA) (SEDG) : SolarEdge Technologies (SEDG) announced a collaboration with Tesla Motors (TSLA) to provide an inverter solution that will allow for grid and photovoltaic integration with Tesla's home battery solution, the Powerwall. The SolarEdge solution is expected to be available by the end of 2015.

7:55 am S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +9.60. (:WRAPX) : U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover six points above fair value.

Meanwhile, the Dollar Index (95.55, +0.26) trades higher by 0.3%, attempting to register its second consecutive advance.

Today's economic data will be limited to the 10:00 ET release of the Factory Orders report for March (Briefing.com consensus 2.1%).

In U.S. corporate news of note:

• Cognizant Technology (CTSH 61.60, +2.46): +4.2% in reaction to better than expected results. 
• Comcast (CMCSA 59.40, +0.99): +1.7% after beating earnings and revenue estimates. 
• ON Semiconductor (ON 12.28, +0.47): +4.0% following better than expected results. 
• Tyson Foods (TSN 40.60, +0.11): +0.3% after beating bottom-line estimates on light revenue and guiding lower. 

Reviewing overnight developments:

• Asian markets ended mixed. China's Shanghai Composite +0.9%, Hong Kong's Hang Seng settled flat, and Japan's Nikkei was closed for Greenery Day. 
  • In economic data: 
    • China's Final April HSBC Manufacturing PMI 48.9 (expected 49.4; prior 49.2) 
    • India's April HSBC Manufacturing PMI 51.3 (expected 52.5; prior 52.1) 
    • South Korea's April HSBC Manufacturing PMI 48.8 (expected 49.0; prior 49.2) and March Current Account KRW10.39 bln (prior KRW6.44 bln) 
    • Australia's March Building Approvals +2.8% month-over-month (expected -2.0%; prior -1.6%); March Private House Approvals +1.1% (prior +0.2%); ANZ Job Advertisements +2.3% month-over-month (prior -1.3%); and April M1 Inflation Gauge +0.3% month-over-month (prior +0.4%) 
    • Singapore's Q1 Unemployment Rate dropped to 1.8% from 1.9% (expected 2.0%) 
  • In news: 
    • China's HSBC Manufacturing PMI registered its largest contraction in a year with the new orders component also falling at a sharp rate.

• Major European indices trade higher across the board. Germany's DAX +1.3%, France's CAC +1.0%, and UK's FTSE is closed for Early May Bank Holiday. Elsewhere, Italy's MIB +1.0% and Spain's IBEX +0.8%. 
  • Participants received several data points: 
    • Eurozone Final April Manufacturing PMI 52.0 (consensus 51.9; prior 51.9) while May Sentix Investor Confidence fell to 19.6 from 20.0 (expected 19.8) 
    • Germany's Final April Manufacturing PMI 52.1 (expected 51.9; previous 51.9) 
    • France's Final April Manufacturing PMI 48.0 (consensus 48.4; prior 48.4) 
    • Italy's Final April Manufacturing PMI 53.8 (expected 53.5; prior 53.3) 
    • Spain's Final April Manufacturing PMI 54.2 (consensus 54.3; last 54.7) 
    • Swiss April SVME PMI 47.9 (consensus 47.0; prior 47.9) 
  • Among news of note: 
    • According to AFP, Greek Finance Minister Yanis Varoufakis has been sidelined from discussions with European creditors. Meanwhile Prime Minister Alexis Tsipras' spokesperson said that "everything" is going to be decided this week.

7:37 am Dominion Midstream reports Q1 (DM) : Reports Q1 (Mar) earnings of $0.19 per share, in-line with the Capital IQ Consensus of $0.19; revenues fell 0.5% year/year to $63.3 mln vs the $64.6 mln consensus.

7:35 am Dominion beats by $0.03; guides Q2 EPS below consensus; reaffirms FY15 EPS guidance (D) : Reports Q1 (Mar) operating earnings of $0.99 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.96.

• Co issues downside guidance for Q2, sees operating EPS of $0.65-0.75 vs. $0.79 Capital IQ Consensus Estimate. 
• Co reaffirms guidance for FY15, sees EPS of $3.50-3.85 vs. $3.69 Capital IQ Consensus Estimate. 
• Positive factors for the second-quarter of 2015 compared to the same period of the prior year include an expected return to normal weather in our electric service territory, higher revenues from growth projects, and the absence of a planned refueling outage at Millstone Power Station. Negative factors for the quarter include higher operating expense.

7:34 am Broadsoft beats by $0.07, beats on revs; guides Q2 EPS in-line, revs in-line; guides FY15 EPS in-line, revs in-line (BSFT) : Reports Q1 (Mar) earnings of $0.24 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 26.9% year/year to $55.7 mln vs the $54.25 mln consensus.

• Co issues in-line guidance for Q2, sees EPS of $0.24-0.36 vs. $0.32 Capital IQ Consensus Estimate; sees Q2 revs of $59-64 mln vs. $61.54 mln Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, sees EPS of $1.42-1.66 vs. $1.53 Capital IQ Consensus Estimate; sees FY15 revs of $260-268 mln vs. $263.20 mln Capital IQ Consensus Estimate.
  

7:32 am Cablevision beats by $0.03, reports revs in-line (CVC) : Reports Q1 (Mar) earnings from continuing operations of $0.20 per share, $0.03 better than the Capital IQ Consensus of $0.17; revenues rose 2.5% year/year to $1.62 bln vs the $1.6 bln consensus; consolidated adjusted operating cash flow increased 4.5% to $454.0 million and consolidated operating income increased 8.0% to $223.8 million, all compared with the prior year period.

• Operating highlights for the first quarter include: Average Monthly Cable Revenue per Customer ("RPC") of $155.34, an increase of $7.12 or 4.8%, compared with the prior year period. Consolidated Free Cash Flow from Continuing Operations of $49.0 million.
  

7:32 am Tyson Foods beats by $0.03, misses on revs; guides FY15 revs below consensus (TSN) : Reports Q2 (Mar) earnings of $0.75 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.72; revenues rose 10.5% year/year to $9.98 bln vs the $10.09 bln consensus. "Our fiscal second quarter is seasonally challenging, but we came in above our projections due to strong performances by our Prepared Foods and Chicken segments."

• Co issues guidance for FY15, sees FY15 revs of approx $41 bln vs. $42.18 bln Capital IQ Consensus Estimate.
  
• "In fiscal 2015, we expect domestic protein production (chicken, beef, pork and turkey) to increase approximately 2% from fiscal 2014 levels. Grain supplies are expected to increase in fiscal 2015, which should result in lower input costs as well as decreased costs for cattle and hog producers. The following is a summary outlook for each of our segments, as well as an outlook on sales, capital expenditures, net interest expense, liquidity and share repurchases. Our accounting cycle results in a 53-week year in fiscal 2015 as compared to a 52-week year in fiscal 2014. Accordingly, the outlook is based on a 52-week year."
  

7:30 am Immune Pharma and STC Biologics announce strategic partnership to accelerate development of NanomAbs, for the targeted delivery of chemo-therapeutics (IMNP) : Immune and STC will jointly present pre-clinical proof of concept data today in a poster session entitled: "NanomAbs Novel Targeted Nanomedicine Platform for Improved Cancer Therapy" at the PEGS - The Essential Protein Engineering Summit, MA, May 4-8, 2015, in Boston. Development will initially focus on HER2-targeted paclitaxel nanoparticles using an anti-HER2 monoclonal antibody developed by STC, and H-Ferritin targeted paclitaxel nanoparticles using an anti-H Ferritin monoclonal antibody developed by Immune. Licensing and joint-development agreements between STC and Immune are expected to be finalized during the second quarter 2015

7:29 am On the Wires (:WIRES) :

• Cardiovascular Systems, Inc. (CSII), will feature two-year results from its ORBIT II trial as well as a long-term economic analysis of the company's Diamondback 360 Coronary Orbital Atherectomy System (OAS) in treating severely calcified lesions in a late-breaking podium presentation at the Society for Cardiovascular Angiography and Interventions (SCAI) 2015 Scientific Sessions in San Diego, Calif., May 6-9.
• KeepItSafe, a brand of j2 Global, Inc. (JCOM) announced the opening of its first Canadian office in Mississauga, Ontario.
• Erin Energy Corporation (ERN) announced it has commenced production from the Oyo-8 well located in OML 120 offshore Nigeria. Erin Energy is the operator of the Oyo field and has a 100% interest in the block. Production Commences for Oyo-8 Oyo-8, which was drilled in the third quarter of 2014 to a total depth of approximately 6,100 feet, was successfully completed horizontally in the Pliocene formation
• Selectica, Inc. (SLTC) announced that it will be working with Kellogg (K), as Kellogg has chosen Selectica SmartContract to automate its contract lifecycle processes enterprise-wide and ensure visibility into contract milestones.
• Ritchie Bros. (RBA) announced it sold more than CA$215 million (US$177+ million) of heavy equipment and trucks at an unreserved public auction in Edmonton, AB from April 28 -- May 1, 2015, making it the largest Canadian auction in Company history.
  
  • Co also announced the appointment of Terry Dolan as President of its US and Latin America units
• China Cord Blood Corporation (CO) announced that the Company has been informed that Golden Meditech Holdings Limited has entered into an agreement to purchase the Company's outstanding 7% senior convertible notes due 2017 held by KKR China Healthcare Investment Limited
• Teradyne, Inc. (TER) and Galaxy Semiconductor Solutions announced they have entered into an OEM agreement to provide an integrated, advanced analysis capability for Teradyne's entire line of semiconductor test equipment
• Ideal Power Inc., (IPWR) announces that it has been selected by Gexpro, along with LG Chem, and Geli, to supply equipment to Gexpro's new Battery Energy Storage Solution
  

7:27 am Realogy beats by $0.02, reports revs in-line (RLGY) : Reports Q1 (Mar) loss of $0.22 per share, $0.02 better than the Capital IQ Consensus of ($0.24); revenues rose 5.5% year/year to $1.06 bln vs the $1.07 bln consensus. 

• "With 10% home sale volume growth, the first quarter was stronger than the 5% to 9% range we anticipated. The increases we saw in homesale transaction sides and average sale price in March, along with the strength of the sales contracts opened in March and April, are indicating a healthy spring selling season for the existing homesale market."
  

7:25 am Overnight Treasury Summary (BONDX) : Global Rates Rise

• Treasuries sold off overnight as European and Japanese government bond yields pushed higher
• Yield check:
• 2-yr: unch at 0.60%
• 5-yr: +1 bp to 1.52%
• 10-yr: +1 bp to 2.13%
• 30-yr: unch at 2.83%

• International News:
• China's HSBC Manufacturing PMI fell to a lower-than-expected 48.9 in April. The preliminary number was 49.2 and the Purchasing Managers' Index was at 49.6 in March
• Germany's Manufacturing PMI rose to a better-than-expected 52.1 in April from 51.9 in March
• Manufacturing PMI's beat expectations in Switzerland and Italy too, while they disappointed in Spain and France. The Manufacturing PMI for the eurozone as a whole beat expectations in April at 52.0, versus 51.9 in March
• India's Markit Manufacturing PMI for April disappointed at 51.30 versus a prior reading of 52.10
• Voters in the U.K. will go to the polls on May 7th and the result remains highly uncertain
• Data Out Today:
• March Factory Orders (10:00 ET)
• Fed Speakers
  
• Boston Fed President Rosengren (non-FOMC voter) (09:00 ET)
• Fed Governor Tarullo (FOMC voter)(09:00 ET or later)
• Chicago Fed President Evans (FOMC voter) speaks on current economic conditions and monetary policy (12:25 ET)
• San Francisco Fed President Williams (FOMC voter) speaks in San Francisco on "Creating Jobs and Economic Opportunity through Small Business" (15:10 ET)

7:24 am Manhattan Bridge Capital reports Q1 EPS of $0.08 vs. $0.05 in prior year period; revs rose 50% YoY to $912K - no ests (LOAN) :  

7:21 am Cyan beats by $0.01, beats on revs -- being acuired by Ciena (CIEN) for $4.75/share (11% cash 89% stock) (CYNI) : Reports Q1 (Mar) loss of $0.14 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of ($0.15); revenues rose 89.5% year/year to $36 mln vs the $33.34 mln consensus.

7:17 am Trevana announces appointment of Carrie Bourdow to Chief Commercial Officer, effective immediately (TRVN) : Bourdow was most recently Vice President of marketing, reimbursement, and operations at Cubist Pharmaceuticals (CBST / MRK)

7:16 am Keryx Biopharma misses by $0.01, misses on revs; announces two new Medicare Part F formulary wins (KERX) : Reports Q1 (Mar) loss of $0.28 per share, $0.01 worse than the Capital IQ Estimate of ($0.27); revenues fell 88.2% year/year to $1.18 mln vs the $2.35 mln consensus. 

• The Company recognized U.S. product sales based on 1,218 prescriptions filled for Auryxia during the quarter, based on data received from IMS Health and specialty pharmacies that don't report data to IMS, including Davita Rx and Fresenius Rx. 
• "With the first full quarter of launch behind us, we have made great progress in securing formulary wins for Auryxia (ferric citrate), which is a critical catalyst for future success," said Greg Madison, Chief Executive Officer of Keryx. "Today, I am pleased to report that over the past two months, we have achieved two additional Medicare Part D formulary wins, with approvals now at 8 of the top 15 Part D plans, we have made significant progress since launch and are advancing towards our goal of 80% unrestricted access."
  
• On track to complete Auryxia study for iron deficiency anemia in patients with stages 3 -- 5 non-dialysis dependent chronic kidney disease (CKD

7:16 am Pinnacle confirms it is engaged in productive discussions with Gaming and Leisure Properties (GLPI) regarding a potential acquisition of Pinnacle's real estate assets (PNK) : The co notes its Board and management team are committed to maximizing value for the benefit of Pinnacle shareholders and it does not intend to make any additional comments regarding this matter until there is something definitive to report.

7:16 am WPX Energy signs agreement to sell a package of Marcellus Shale marketing contracts and release certain related firm transportation capacity to an undisclosed buyer for in excess of $200 mln cash (WPX) : The sale includes various long-term natural gas purchase and sales agreements, along with 135 million Btu per day of firm transportation capacity on Transco's Northeast Supply Link project. Upon completing the transaction, WPX will be released from various long-term natural gas purchase and sales obligations and approximately $390 million in future demand payment obligations associated with the transport position. WPX's only remaining assets in the Marcellus Shale primarily consist of its physical operations in Westmoreland County in southwestern Pennsylvania. These assets remain targeted for divestiture.

7:14 am Avista reaches partial settlement in Washington rate case, remaining elements of original filing will be addressed as the case progresses (AVA) : The co and multiple parties to the Company's electric and natural gas general rate case filings have reached agreement on certain issues, and a partial settlement agreement has been filed with the Washington Utilities and Transportation Commission for its consideration. The partial settlement agreement includes agreement among the parties on the cost of capital, net power supply costs and the spread of any resulting revenue increase among customer classes at the conclusion of the case. The agreed-upon rate of return (:ROR) on rate base is 7.29 percent, with a common equity ratio of 48.5 percent and a 9.5 percent return on equity.

• The agreement on the elements in the partial settlement results in a reduction in the Company's originally filed revenue increase requests. Avista's original electric revenue increase request is reduced from $33.2 million to $17.0 million, and its original natural gas revenue increase request is reduced from $12.0 million to $11.3 million. Both original requests were based on a proposed ROR on rate base of 7.46 percent with a common equity ratio of 48 percent and a 9.9 percent ROE. 

7:12 am MediWound misses on the bottom line (MDWD) : Reports Q1 (Mar) loss of $0.30 per share, $0.04 worse than the Capital IQ Consensus Estimate of ($0.26). Revenues for the first quarter of 2015 totaled $67,000 compared with $50,000 for the same quarter last year.

• Co initiated U.S. Phase 3 clinical trial of NexoBrid to treat severe burns.
  

7:09 am Henry Schein beats by $0.01, misses on revs; reaffirms FY15 EPS guidance (HSIC) : Reports Q1 (Mar) earnings of $1.28 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $1.27; revenues rose 1.4% year/year to $2.46 bln vs the $2.54 bln consensus. This consisted of 7.4% growth in local currencies and a 6.0% decline related to foreign currency exchange. In local currencies, internally generated sales increased 4.8% and acquisition growth was 2.6%. 

Co reaffirms guidance for FY15, sees EPS of $5.90-6.00, excluding non-recurring items, vs. $5.92 Capital IQ Consensus Estimate.

7:06 am Walt Disney revises earnings release to May 5, 2015 at ~8am EDT and conference call at 9:30am ET (previously was May 5 after the close) (DIS) :  

7:06 am Science Applications announces the award of a $425 mln controller training contract by the FAA (SAIC) :

• The Federal Aviation Administration (:FAA) awarded Science Applications International (SAIC) an indefinite delivery, indefinite quantity contract to provide all training and training program support services under the FAA Controller Training Contract.
• The single-award, firm-fixed-price and time and materials contract has a three-year period of performance, two one-year options, and the current total estimated contract value is $425 mln, with a maximum contract ceiling of $727 mln. Work will be performed mainly in Oklahoma City, Washington, D.C., and air traffic control sites nationwide.
  

7:06 am LMI Aerospace misses by $0.01, beats on revs; reaffirms FY15 revs in-line (LMIA) : Reports Q1 (Mar) loss of $0.11 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.10); revenues fell 3.4% year/year to $92.5 mln vs the $90 mln consensus.

• Co reaffirms guidance for FY15, sees FY15 revs of $370-385 mln vs. $381.03 mln Capital IQ Consensus Estimate.
  

7:05 am Adeptus Health announces a proposed common stock offering of 2.1 mln shares; ~1.35 mln shares sold by company, ~750K shares sold by selling stockholders (ADPT) : The Company intends to use the net proceeds from the offering received by it to purchase, for cash, 1,349,671 limited liability company units of Adeptus Health LLC, its direct subsidiary, from certain of the unit holders of Adeptus Health LLC, including certain of the Company's directors and executive officers.

7:04 am TerraForm Power announces acquisition of 25 MW of solar power plants from Invenergy; also announces increase in revolving credit facility commitments to $650 mln (TERP) : The plants are expected to generate annual unlevered CAFD of approximately $10 million over the next twelve months. This represents an expected unlevered cash-on-cash return of greater than 8%. TerraForm intends to fund the acquisition using existing balance sheet liquidity. 

• Co also announced it has increased total commitments to the 5-year revolving credit facility of its wholly-owned subsidiary TerraForm Power Operating, LLC by $100 mln to $650 mln in the aggregate. The $100 mln in incremental commitments was provided by JPMorgan Chase Bank, N.A. and Santander Bank, N.A. The Revolver was previously upsized to $550 mln and extended to January 2020 in January 2015. The Company's bank group now consists of ten leading financial institutions.

7:04 am xG Technology has been awarded a new patent covering enhanced techniques for mitigating interference in wireless transmissions (XGTI) : The new patent, "Hybrid ARQ system with Snapshot Feedback Mechanism for Interference Prone Wireless Networks," outlines a method for faster and more detailed analysis of data being received, which will help deliver smoother and more reliable communications in crowded and challenged RF environments.

7:03 am Asian Markets Close: Japan's Nikkei closed for holiday; Hong Kong's Hang Seng flat; China's Shanghai Composite +0.9% (:SUMRX) : Markets in the Asia-Pacific region finished Monday mostly higher, bolstered by Wall Street's strong showing on Friday and a downwardly revised HSBC manufacturing PMI reading out of China that stirred the pot of monetary policy stimulus speculation.

Economic data

• China
• Final April HSBC Manufacturing PMI 48.9 (expected 49.4); prior 49.2
• India
• April HSBC Manufacturing PMI 51.3 (expected 52.5; prior 52.1)
• South Korea
• April HSBC Manufacturing PMI 48.8 (expected 49.0; prior 49.2)
• March Current Account KRW 10.39 bln (prior KRW 6.44 bln)
• Australia
• March Building Approvals +2.8% month-over-month (expected -2.0%; prior -1.6%)
• March Private House Approvals +1.1% (prior +0.2%)
• ANZ Job Advertisements +2.3% month-over-month (prior -1.3%)
• April M1 Inflation Gauge +0.3% month-over-month (prior +0.4%)
• Singapore
• Q1 Unemployment Rate 1.8% (expected 2.0%; prior 1.9%)

Equity Markets

• Japan's Nikkei closed for Golden Week holiday
• Hong Kong's Hang Seng ended Monday flat. Individual standouts included New World Development Co (+5.2%), Wharf Holdings Ltd (+4.8%), and Sun Hung Kai Properties (+4.1%). Leading decliners included Hang Lung Properties (-3.6%), China Resources Land (-2.8%), and Cathay Pacific Airways (-2.0%). Out of the 50 index members, 34 ended higher, 14 finished lower, and 2 were unchanged.
• China's Shanghai Composite increased 0.9%, rebounding from an early 1.2% decline that followed the report of the final HSBC Manufacturing PMI reading for April being revised down to 48.9 from 49.2. A number below 50 denotes contraction. The turn in the market was catalyzed by the expectation of more monetary policy stimulus being provided. The industrial sector (+2.2%) helped pace gains for the Chinese market.
• India's Sensex increased 1.8%, rallying in the wake of Wall Street's strong showing on Friday. Gains were broad based and were led by the energy (+3.9%) and communications (+3.1%) sectors. Leading gainers included Oil & Natural Gas Corp (+8.0%), Bajaj Auto (+7.2%), and Cipla Ltd (+5.9%). Only three stocks ended the day lower: ICICI Bank (-0.6%), Tata Motors (-0.4%), and Larsen & Toubro (-0.1%)
• Australia's S&P/ASX 200 increased 0.2% and finished at their highs for the session. Overall trading action was subdued ahead of the Reserve Bank of Australia's interest rate decision on Tuesday. The metals & mining, materials, and resources sectors led the way, offsetting some weakness in the banking sector.
• Regional advancers: Taiwan (+0.3%), South Korea +0.2%, Indonesia +1.1%, Philippines +1.3%
• Regional decliners: Singapore -0.1%, Vietnam -3.1% Holiday closure: Malaysia (Wesak Day), Thailand (Special Holiday)

FX

• USD/CNY +0.1% at 6.2084 
• USD/INR -0.2% at 63.630 
• USD/JPY +0.1% at 120.22
  

7:03 am Shire plc and the Foundation Fighting Blindness announce a new agreement focused on furthering research for treatment of autosomal dominant retinitis pigmentosa (SHPG) : As part of the agreement, the Foundation Fighting Blindness and its research partners will provide Shire with expert knowledge and scientific background regarding adRP, as well as pertinent clinical information that could be useful in the development of a drug to treat adRP. The Foundation Fighting Blindness will also provide counsel as requested on the pre-clinical and/or clinical development of Shire compounds in development for the treatment of adRP. Shire is compensating the Foundation Fighting Blindness for its expertise in early-stage drug discovery and development, as well as making available it expertise and experience with the submission of investigational new drug applications.

7:02 am Furmanite has received a written non-binding indication of interest from a strategic acquiror for a transaction in which all Furmanite stockholders would receive cash for their shares, at a substantial premium to current market prices (FRM) : The Furmanite Board of Directors believes this indication of interest could lead to a binding offer to acquire the Company at a substantial premium, and is in the process of retaining a financial advisor to assist the Board with the evaluation of the proposal and any other strategic alternatives that may be presented. In connection with the indication of interest and in order to permit the Furmanite Board to fully evaluate the proposal and determine how best to maximize value to Furmanite's stockholders, the Furmanite Board is requesting that stockholders vote on the GOLD proxy card.

• If sufficient votes are received on the GOLD card, Furmanite intends to adjourn the 2015 Annual Meeting of Stockholders, prior to conducting any business, until Thursday, June 4, 2015. The Board intends to use this additional time, with the assistance of a financial advisor, to engage in discussions with the interested strategic acquiror and to evaluate any potential offer, with the possibility of entering into a definitive agreement if circumstances warrant.
  

7:02 am BioLineRx announces the successful completion dose escalation stage in its ongoing Phase 2 study of BL-8040, and the commencement of BL-8040's expansion stage (BLRX) :

• Results of the completed dose escalation stage, in which 22 patients participated, showed that all BL-8040 tested doses, up to 1.5 mg/kg, were found to be safe and well tolerated when administered in combination with Ara-C. 
• Data indicate that BL-8040 exhibits robust single-agent activity, with a dramatic decrease in the amount of AML cells in the bone marrow and significant mobilization of these cells into the peripheral blood following two days of BL-8040 monotherapy, as well as direct induction of leukemia cell death. 
• Based on the study's pharmacodynamic data, 1.5 mg/kg was chosen as the dose for use in the expansion stage of the study. 
• Top-line results from the study are anticipated in the fourth quarter of 2015
  

7:02 am PMFG Inc to be acquired by CECO Environmental (CECE) for $6.85/share, or ~$150 mln equity value (shares halted) (PMFG) : Pursuant to the merger agreement, CECO Environmental (CECE) will acquire all of the outstanding shares of PMFG common stock for cash and stock valued at $6.85 per share (approximately $150 million equity value or $130 million enterprise value), representing a 48% premium to PMFG's closing share price on May 1, 2015. PMFG's shareholders may elect to exchange each share of PMFG common stock for either $6.85 in cash or shares of CECO common stock having an equivalent value based on the volume weighted average trading price of CECO common stock for the 15-trading day period ending on the trading day immediately preceding the closing of the merger, subject to a collar.

• CECO notes that it and PMFG's products and end markets are highly complementary and when combined will represent one of the most comprehensive product portfolios in the industry with approximately $500 million in environmental, energy and fluid handling-related revenue. 
• In the aggregate, cost savings are estimated to be approximately $15 million and are expected to be realized over 24 months following the close of the transaction. 
• In support of this transaction, Bank of America Merrill Lynch, as Lead Arranger and Administrative Agent, has provided a financing commitment for a $25 million increase and amendment to CECO's existing $195 million Senior Credit Facility.
  

7:02 am Cyan has entered into a definitive agreement to be acquired by Ciena (CIEN) for approximately $4.75 per share of Cyan common stock (CYNI) : Under the terms of the agreement, Ciena will acquire all of the outstanding shares of Cyan in a cash and stock transaction currently valued at approximately $400 million and inclusive of Cyan's outstanding convertible notes on an as-converted basis. In connection with the acquisition, Ciena will assume Cyan's $50 million in outstanding principal amount of 8.0% Convertible Senior Secured Notes due 2019

7:01 am Ceva beats by $0.01, beats on revs (CEVA) : Reports Q1 (Mar) earnings of $0.08 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.07; revenues rose 0.7% year/year to $13.8 mln vs the $13.24 mln consensus.

7:01 am McDermott has received a large contract amendment from Al-Khafji Joint Operations for a platform in the Hout field (MDR) : Work on the brownfield project is expected to be executed through the second quarter of 2017 and is included in McDermott's first quarter 2015 backlog. The large contract amendment is an addition to the initial scope for KJO's Hout project awarded to McDermott in March 2012.

7:00 am Enable Midstream Partners announces acquisition of Monarch natural gas gathering assets in Texas Panhandle; acquisition is immediately accretive to Enable Midstream (ENBL) : The co announced that it completed acquisition of $80 million of strategic natural gas gathering assets in the Texas Panhandle from Monarch Natural Gas, LLC. The assets are underpinned by long-term dedication of 35,000 net acres from a producer who is a current Enable Midstream customer.

6:58 am Synthetic Biologics appoints Steven Shallcross as CFO, effective June 1, 2015 (SYN) : He replaces C. Evan Ballantyne who will be leaving the Company in May to pursue other interests. Shallcross most recently served for four years as the Chief Financial Officer and Treasurer of Vanda Pharmaceuticals

6:55 am On the Wires (:WIRES) :

• Abengoa (ABGB) announced it has been selected to construct a waste water treatment plant in the municipality of Madrid; and the drinking water treatment and supply system for the city of Yopal, both in Colombia. The projects, worth 8 million and 21 million respectively, will treat waste water from the town of Madrid in an environmentally-friendly and sustainable way
• CareDx (CDNA) announced that the Cleveland Clinic has enrolled the first patients into a multicenter observational study designed to demonstrate the clinical performance characteristics of circulating cell-free DNA in detecting clinical and sub-clinical rejection in kidney allograft recipients. The study is also designed to demonstrate the correlation of circulating cfDNA to renal function, both serum creatinine and estimated glomerular filtration rate.
• Air Lease (AL) announced a long term lease agreement with Volaris (VLRS) for one additional new Airbus A321-200 CEO aircraft with Sharklets powered by IAE V2533-A5 engines. This aircraft is from ALC's order book with Airbus and scheduled for delivery in spring 2016.
• Trimble (TRMB) and the Nemetschek Group announced that they have formed a strategic alliance to expand the deployment of Building Information Modeling across the entire Design-Build-Operate lifecycle of buildings. The alliance will emphasize collaborative approaches to design modeling and 5D construction management through data integration between a variety of the companies' products.
• FCA US (FCAU) announces that Employees of Chrysler, Jeep, Dodge, Ram and FIAT dealerships are being given the opportunity to earn a no-cost, no-debt college degree through Strayer (STRA) University's DegreesWork program.
• MAXIMUS (MMS) announced that it has launched DecisionPoint for Pharmacy Benefits Management, to help states navigate public drug benefit programs. The formal debut of this solution begins today at the National Council for Prescription Drug Programs Conference in Scottsdale, Arizona.
• Hydrogenics Corporation (HYGS) announced that the Company's 1.5 megawatt PEM electrolyzer system successfully passed factory acceptance testing at its facility in Gladbeck, Germany. The system will be delivered to E.ON's Reitbrook site in Hamburg, Germany as part of a Power-to-Gas hydrogen injection plant that will use excess renewable energy.

6:49 am Navios Maritime Partners misses by $0.06, misses on revs (NMM) : Reports Q1 (Mar) earnings of $0.13 per share, $0.06 worse than the Capital IQ Consensus of $0.19; revenues fell 1.2% year/year to $56.8 mln vs the $61.43 mln consensus. 

• "We earned $38.0 million of EBITDA and $10.9 million of net income. We recently announced a quarterly distribution of $0.4425, representing an annual distribution of $1.77 per unit. We remain committed to this annual distribution, at least through 2016, and we have maintained it even during difficult phases of the shipping cycle. We are prepared to increase our distribution when the shipping market stabilizes and the market rewards us, as our current yield of 13.4% is more than two times the yield on the Alerian MLP."
  

6:32 am Capitol Acquisition Corp. II announces it will seek stockholder approval for an extension, to consummate its merger with Lindblad Expeditions (CLAC) : Capitol currently believes that there may not be sufficient time before May 15, 2015 to allow the SEC to complete its review of the proxy statement relating to the proposed transaction

6:32 am HealthEquity announces a proposed offering of 3.6 mln shares of common stock; 3.2 mln shares by selling stockholders, ~400K shares to be sold by company (HQY) : HealthEquity intends to use the net proceeds from the shares sold by it in the offering primarily for general corporate purposes as well as any potential acquisitions

6:31 am PartnerRe's Board rejects unsolicited proposal by EXOR S.p.A. to acquire PartnerRe at a price of $130 per share; reaffirms its commitment to the merger with AXIS Capital (AXS), shareholders to receive a special dividend of $11.50 per common share in connection with closing (PRE) : The co announced that its Board of Directors has rejected the unsolicited proposal by EXOR S.p.A. to acquire PartnerRe at a price of $130 per share. The Company further reaffirmed its commitment to the planned merger with AXIS Capital Holdings Limited (AXS) and announced enhanced merger terms that allow PartnerRe to pay a one-time special dividend of $11.50 per common share to PartnerRe common shareholders prior to the closing of the amalgamation agreement between PartnerRe and AXIS Capital.

• The PartnerRe Board held extensive discussions with EXOR, who announced their unsolicited all cash proposal on April 14, 2015. The discussions with EXOR were facilitated by way of a waiver secured by PartnerRe from AXIS Capital following receipt of the EXOR proposal, allowing PartnerRe to engage with EXOR to properly and thoroughly evaluate the many aspects of its proposal.
  
• The PartnerRe Board noted that throughout the course of negotiations, EXOR maintained its $130 per share proposal, and indicated that due diligence on PartnerRe would be "confirmatory" only and that there would be no price improvement. Despite numerous attempts by the PartnerRe Board to negotiate on price, EXOR stated that $130 per share was its best and only offer.

• The PartnerRe Board, in consultation with its outside legal and financial advisors, therefore unanimously rejected the EXOR proposal and terminated all discussions and negotiations with EXOR with respect to its proposal. 

6:30 am CafePress announces Board approval for a stock repurchase program of up to 3.5 mln shares of common stock (PRSS) :  

6:29 am Internet Gold appoints Itzik Tadmor as new Principal Financial Officer, replacing CFO Ehud Yahalom who was is leaving to pursue other ventures (IGLD) : Yahalom's departure did not arise from any disagreement on any matter relating to the operations, policies or practices of the Company. Mr. Tadmor has been the Company's controller for the past three years.

6:25 am Starpharma signs extensions to the existing collaboration agreement with AstraZeneca (AZN) to commence scale up of a dendrimer enhanced oncology molecule for further development (SPHRY) : During 2014 Starpharma and AstraZeneca (AZN) conducted a series of studies in which Starpharma's DEP drug delivery technology was used to modify a development candidate from AstraZeneca's cancer pipeline. This program has been successful with key enhancements for the DEP conjugate now having been demonstrated by AstraZeneca in animal models. Based on these results AstraZeneca is now conducting further pre-clinical studies with a view to subsequent commencement of clinical trials, if results of the current work continue to be positive.

6:24 am On the Wires (:WIRES) :

• Sapiens International Corporation (SPNS) announced today that Quantum II Ltd, a new entrant in Mauritius' property and casualty (P&C) and medical products direct insurance market , has selected the Sapiens IDIT Software Suite as its centralized solution.
• Siemens (SIEGY) has been awarded an order from Pattern Energy Group (PEGI) to supply, support installation and provide long-term service for 65 wind turbines for the Amazon Wind Farm (Fowler Ridge) to be located near Fowler, Indiana. Installation of the wind turbines is scheduled to begin in July of this year. The project is expected to start generating power in the fourth quarter of 2015.The project will feature Siemens SWT-2.3-108 wind turbines, each with a power rating of 2.3 megawatts and 53-meter blades.
• MarkWest Energy Partners (MWE) announced that Randy S. Nickerson, Executive Vice President and Chief Commercial Officer, will be retiring in early 2016. Effective June 1, 2015, Greg S. Floerke, currently the Senior Vice President of Operations for the Northeast Region, will be promoted to the position of Executive Vice President and Chief Commercial Officer, reporting to the Chief Executive Officer. As a result of these executive management changes, the responsibilities of Nancy K. Buese, Executive Vice President and Chief Financial Officer, will be expanded to include Mergers and Acquisitions and Joint Venture Management.
  
• Boeing (BA) the Lufthansa Group and Swiss International Air Lines have finalized an order for three additional 777-300ER airplanes, valued at $990 million at current list prices. This order, previously attributed to an unidentified customer, follows SWISS' 2013 order for six 777-300ERs
  

6:14 am Cognizant Tech beats by $0.01, beats on revs; guides Q2; slightly raises FY15 gudiance (CTSH) : Reports Q1 (Mar) earnings of $0.71 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.70; revenues rose 23.5% year/year to $2.99 bln vs the $2.89 bln consensus.

• Co issues in-line guidance for Q2, sees EPS of at least $0.72 vs. $0.73 Capital IQ Consensus Estimate; sees Q2 revs of at least $3.01 billion vs. $3.01 bln Capital IQ Consensus Estimate. 
• Co issues in-line guidance for FY15, raises EPS to at least $2.93 from at least $2.91 vs. $2.94 Capital IQ Consensus Estimate; raises FY15 revs to at least $12.24 billion from at least $12.21 billion vs. $12.29 bln Capital IQ Consensus Estimate.
•  "Our strong revenue performance this quarter versus our guidance was driven primarily by organic growth of our core businesses and is a reflection that our strategy and offerings are resonating with our clients,"

6:14 am Acceleron Pharma announces preliminary data from it Phase 2 clinical trial of Luspatercept at the 13th International Symposium on Myelodysplastic Syndromes (XLRN) :

• The data showed that luspatercept increased hemoglobin levels and enabled many patients to become transfusion independent. Luspatercept was generally well-tolerated with the majority of adverse events being mild to moderate. 
• There were two possibly related serious adverse events of muscle pain and worsening of general condition. In the higher dose groups: 54% achieved the International Working Group hematologic improvement-erythroid threshold of efficacy. 36% of patients who received red blood cell transfusions during the 8 weeks prior to treatment in the study achieved transfusion independence for at least 8 weeks during the study. 
• At least 30% of all MDS patients are RS positive, and the proportion is likely even greater within the lower risk segment of all MDS patients. 
• In the RS positive patients in the higher dose groups treated with luspatercept, 63% achieved IWG HI-E 39% achieved transfusion independence
  

6:11 am Hawaiian Telecom. announces appointment of Dan Bessey as CFO (HCOM) : Bessey joins Hawaiian Telcom from Cesca Therapeutics (KOOL), where he served as Chief Financial Officer and managed the Finance and Accounting, Business Planning and Forecasting.

6:08 am Boardwalk Pipeline misses by $0.05, reports revs in-line (BWP) : Reports Q1 (Mar) earnings of $0.31 per share, $0.05 worse than the Capital IQ Consensus Estimate of $0.36; revenues fell 7.6% year/year to $329.7 mln vs the $331.3 mln consensus. 

• EBITDA of $204.6 million, a 7% decrease from $220.4 million in the comparable 2014 period.
  

6:05 am Comcast beats by $0.05, beats on revs (CMCSA) : Reports Q1 (Mar) earnings of $0.79 per share, excluding non-recurring items, $0.05 better than the Capital IQ Consensus Estimate of $0.74; revenues rose 2.6% year/year to $17.85 bln vs the $17.42 bln consensus. 

• Customer Relationships increased by 199,000 to 27.2 million in the first quarter of 2015, a 61% improvement compared to the first quarter of 2014 and driven by increases in double and triple product relationships. Consolidated Revenue for the first quarter of 2015 increased 2.6% to $17.9 billion. 
• Excluding $376 million of revenue generated by the NFL's Super Bowl in the first quarter of 2015 as well as $1.1 billion of revenue generated by the Sochi Olympics in the first quarter of 2014.
  

6:03 am Pattern Energy Group acquires the 150 MW Amazon Wind Farm project in Indiana for $127 mln (PEGI) : Co announced its acquisition of the 150 MW Amazon Wind Farm project in Indiana from Pattern Energy Group LP. Upon completion of the project, Pattern Energy will have an owned interest of 116 MW and it is expected that institutional tax equity investors will acquire the balance. Pattern Energy acquired the Amazon Wind Farm project for a total cash funding commitment of approximately $127 million, a portion of which will be used to pay down construction debt upon the completion of construction. The acquisition will be funded from available cash and credit facilities

6:01 am Spherix announces additional litigation action against Verizon (VZ) and Cisco (CSCO); announces update on litigation with T-Mobile (TMUS) (SPEX) : Co noted:

• On Friday, May 1, 2015, Spherix filed an action against both Verizon (VZ) and Cisco Systems (CSCO), alleging that Verizon and Cisco infringe eight Standard-Essential Patents owned by Spherix. Standard-Essential Patents cover technology that is required to implement a technology standard set by a Standard Setting Organization. 
• On Thursday, April 30, 2015, Spherix dismissed its action against T-Mobile (TMUS), brought originally on August 1, 2013 for infringement of one patent. The dispute between the parties has been resolved, and the case was dismissed without prejudice, with each side to pay their own attorney and court fees and expenses.
  

6:01 am Emerge Energy Services announces appointment of Jody Tusa as new Chief Financial Officer, effective May 4, 2015 (EMES) : Tusa most recently served as CFO of USA Compression Partners. Previous CFO Robert Lane has resigned for personal reasons

5:51 am S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: -0.10. :

5:50 am European Markets : FTSE...6985.95...+25.30...+0.40%.  DAX...11583.81...+129.30...+1.10%.

5:50 am Asian Markets : Nikkei...Holiday.........  Hang Seng...28123.82...-9.20...0.00%.

5:10 am EXACT Sciences beats by $0.01, beats on revs (EXAS) : Reports Q1 (Mar) loss of $0.40 per share, $0.01 better than the Capital IQ Consensus Estimate of ($0.41); revenues rose 1333.3% year/year to $4.3 mln vs the $4.1 mln consensus.

• Co reported that 11,000 Cologuard tests were completed and that the number of ordering physicians more than doubled, increasing from 4,100 at the end of 2014 to 8,300 in the first quarter of 2015.
  

5:08 am Mylan Labs launches Gilead Sciences' Sovaldi tablets in India (MYL) : Co announced that its subsidiary, Mylan Pharmaceuticals Private Limited, has launched Gilead Sciences' Sovaldi in India. Sovaldi is indicated for the treatment of chronic hepatitis C infection, a blood-borne infectious disease, as a component of a combination antiviral treatment regimen. It is estimated that approximately 12 million people are chronically infected with hepatitis C in India.

4:27 am Fosun International acquires remaining shares of Ironshore (FOSUF) : Company announced it has agreed to acquire all of the interests in Ironshore that the Company does not already own. The Acquisition will be effected pursuant to the Merger whereby the Merger Sub shall be merged with and into Ironshore with Ironshore continuing as the Surviving Company. The Merger Consideration will equal to ~$1,839,761,000, increased at 8% per annum from 31 December 2014 to the Closing Date. The Merger Agreement may be terminated by the Company, Ironshore or the Equityholder Representative if the Merger is not consummated on or prior to 31 March 2016.

4:07 am Parker-Hannifin unit Parker Aerospace signs long-term support agreement with Tianjin Airlines (PH) : Parker Aerospace, a business unit of Parker Hannifin Corporation, the global leader in motion and control technologies, and its Customer Support Operations have signed a long-term agreement with Tianjin Airlines to provide a comprehensive maintenance package for its fleet of Embraer 190 E-Jet aircraft. This agreement is part of an enhanced service offering provided by Parker in partnership with operators. The agreement supports the maintenance, repair, and overhaul needs for the airlines' 190 E-Jet fleet in addition to inventory management and a quick turnaround replenishment service.

3:47 am On The Wires (:WIRES) :

• Royal Philips (PHG) and Arizona-based Banner Health today announced the successful results of their at-home telehealth pilot program for patients with multiple chronic conditions. The Intensive Ambulatory Care pilot program, part of the overall telehealth program at Banner, focuses on the most complex and highest cost patients -- the top five percent of patients who account for 50% of health care spend. 
• HP (HPQ) announced a new family of all-in-one desktop and tower PCs designed to fit beautifully in the home for back to school. The new desktop lineup offers customers power and flexibility to scale for next-level productivity and entertainment.

3:13 am Arkansas Best misses by $0.04, reports revs in-line (ARCB) : Reports Q1 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus Estimate of $0.10; revenues rose 6.1% year/year to $613.3 mln vs the $619.22 mln consensus.

• Revenue of $441.2 million compared to $428.9 million in first quarter 2014, an increase of 2.9% 
• Tonnage per day decrease of 0.5% versus first quarter 2014 
• Total billed revenue per hundredweight of $28.06 compared to $27.05 the prior year, an increase of 3.7% 
• Breakeven operating income compared to an operating loss of $12.2 million and an operating ratio of 102.8% in first quarter 2014 
• ABF Freight experienced first quarter revenue growth on improved pricing despite the effects of a slight reduction in total freight tonnage.
  

2:43 am Koninklijke Ahold share buyback update (AHONY) : Co announced it has repurchased 568,891 Ahold common shares in the period from April 27, 2015 up to and including May 1, 2015. The shares were repurchased at an average price of 17.7660 per share for a total consideration of 10.11 million. These repurchases were made as part of the 500 million share buyback program announced on February 26, 2015

2:27 am Cellcom Israel announces two deferred loans for the total principal amount of NIS400 mln (CEL) : Co entering into a loan agreement with two Israeli financial institutions, or Lenders, according to which the Lenders have agreed, subject to certain customary conditions, to provide the Company two deferred loans for the total principal amount of NIS 400 million, unlinked, as follows:

• A principal amount of NIS 200 million will be provided to the Company in June 2016, and will bear an annual fixed interest of 4.6%. The loan's principal amount will be payable in four equal annual payments on June 30 of each of the years 2018 through 2021.
• A principal amount of NIS 200 million will be provided to the Company in June 2017, and will bear an annual fixed interest of 5.1%. The loan's principal amount will be payable in four equal annual payments on June 30 of each of the years 2019 through 2022

2:24 am Israel Chemical To close DECA flame retardant production line (ICL) : Co announced that its ICL Industrial Products segment is closing a production line in Israel that produces its FR-1210 flame retardant product.

Due to the move to more sustainable products ICL previously decided to increase its R&D efforts to develop state-of-the-art alternatives to FR-1210 that are recommended by the SAFR tool that it has developed and will launch at CHINAPLAS in May 2015.

2:07 am New Source Energy lowers FY15 guidance (NSLP) : Co issues downside guidance for Q1 (Mar), sees Q1 (Mar) revs of $36-40 mln vs. $42.65 mln Capital IQ Consensus Estimate. Co issues downside guidance for FY15 (Dec), sees FY15 (Dec) revs of $100-120 mln vs. $166.84 mln Capital IQ Consensus Estimate. This down from prior guidance of $120-140 mln.

• The estimated decrease in our revenue and Adjusted EBITDA for the three months ended March 31, 2015 as compared to fourth quarter of 2014 is primarily due to lower commodity prices and the substantial decline in rig counts in the areas where we provide services.
  
• In addition, management estimates that average daily production for the three months ended March 31, 2015 will be between 3,700 and 4,075 MBoe/d.
  

Common Unit Distribution
The board of directors of our general partner has not yet declared a distribution to our common unitholders with respect to the quarter ended March 31, 2015.

1:59 am ON Semiconductor beats by $0.03, beats on revs; guides Q2 revs in-line (ON) : Reports Q1 (Mar) earnings of $0.20 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.17; revenues rose 23.3% year/year to $870.8 mln vs the $860.82 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $876-916 mln vs. $896.35 mln Capital IQ Consensus Estimate.

1:48 am On The Wires (:WIRES) :

• Equifax (EFX) announced a relationship with Digital Matrix Systems to introduce a new, innovative credit score alternative for the auto insurance industry. The risk evaluation tool will enable insurers to reduce risk exposure, reduce acquisition costs and simplify the customer quote process. 
• Disney (DIS) announced Sep 4 will be dubbed 'Force Friday' (announced on StarWars.com), which will be a global event for fans of all ages to celebrate the launch of merchandise by the film, Star Wars: The Force Awakens. Toys, collectibles, books, apparel and more will hit shelves on September 4, 2015 at 12:01 a.m. with stores around the world opening their doors for all things Star Wars.

1:22 am Churchill Downs reports highest all-time wagering from all-sources on the Kentucky Derby Day (CHDN) : Co reports a record of 170,513 fans, the highest attendance in Derby history. Prior attendance record of 165,307 was set in 2012 

• Wagering from all-sources was the highest all-time on both the Kentucky Derby Day program and on the Kentucky Derby race.
• Wagering from all-sources on the Kentucky Derby Day program totaled $194.3 million, an increase of 4% over the 2014 total of $186.6 million, and an increase of 4% over the previous record set in 2012 of $187.0 million. Wagering from all-sources on the Kentucky Derby race increased 7% to $137.9 million from 2014's $129.2 million and a 4% increase over the previous record set in 2012 of $133.1 million.
• On-track wagering on the Kentucky Derby program of $23.0 million declined 2% from $23.4 million in 2014. On-track wagering on the Kentucky Derby race totaled $12.0 million, an increase of 1% over 2014's $11.9 million. 
• Churchill Downs returned $154.3 million to bettors on the Kentucky Derby Day race program. Additionally, purses earned from the Kentucky Derby Day race program approximated $10.7 million that will be paid out to horsemen during the remainder of the 2015 race meets. 

1:19 am Hudbay Minerals announces strike action at Manitoba Operations (HBM) : Co announced that 180 members of the International Association of Machinists and Aerospace Workers, Local No. 1848 began a strike at noon Saturday. A comprehensive contingency plan is in place and the company expects operations to continue and production guidance to be maintained. The striking workers represent about 12% of Hudbay's 1460 person Manitoba workforce. Hudbay sought a mutually negotiated agreement over several months and does not believe the strike action is necessary. Hudbay remains committed to the bargaining process and hopes the union leadership will engage in good faith negotiations.

1:13 am Allegiant Travel receives court order safeguarding passengers from pilot strike (ALGT) : Allegiant Air has been successful in receiving a court order blocking the Teamsters from striking and safeguarding Allegiant's passengers from travel disruptions.

• A court in Las Vegas has issued an injunction against the International Brotherhood of Teamsters Local 1224, the union representing its pilots. The injunction will prevent the Teamsters from striking and potentially disrupting travel for thousands of passengers. 
• With the threat of a strike lifted, Allegiant looks forward to directing its time and energy back to the negotiating table to work on securing a contract that will be beneficial to both its pilots and the company. 

1:08 am Qihoo 360 Tech provides statement regarding cheating in lab test (QIHU) : Qihoo 360 received comments from its industry partners with allegation of inappropriate behavior on the benchmarking processes in test labs.

"We regret that this behavior has resulted into such comments from these labs, who we recognize as reference for security benchmarking. However, we hereby offer our perspective to the alleged comments...The allegation highlights that the default configuration of the product available for the public, differs from the configuration used by the labs for testing. This configuration was explicitly declared upon submission of the tests, and was thereafter confirmed by the test labs...In the public version, 3rd party engine is off by default, in the consideration that the majority of our users, are running on lower computing power. To satisfy lab conditions, the consideration of power constraint was therefore discarded. In any case, no alleged comment indicates that the level of protection from the product, is lower than the records achieved during the testing sessions..."

1:05 am Tesla Motors: Edison International (EIX) teams up with Tesla for battery storage projects (TSLA) : Edison International (EIX) announced that it has established commercial agreements with Tesla (TSLA) as part of its launch of a new line of Tesla Energy products. Southern California Edison, the regulated utility subsidiary of Edison International, and SoCore Energy, a subsidiary of Edison Energy that provides rooftop solar systems, are implementing energy storage projects that feature Tesla Powerpacks.

• The first demonstration project is related to residential customers, targeting homeowners in SCE's service territory who have solar panels already installed with battery storage capability. The second demonstration project focuses on commercial and industrial customers who require a larger energy storage capacity. These two projects are expected to be in place and operational in 2015.
  

12:56 am Net Element Announces two financings totaling up to $24.5 mln (NETE) : Co announced it has entered into definitive agreements with a qualified institutional buyer and certain institutional accredited investors for financing transactions that will make an initial amount of $10.5 million and potential additional amounts of up to an additional $14 million available to the Company.

• Pursuant to the definitive transaction documents for the first transaction, the Company has issued, as a registered direct offering, $5.5 million of Series A 9% Convertible Preferred Stock. Net Element will receive $5.5 million in gross proceeds at closing of this transaction.