6:54 am RPC misses by $0.01, beats on revs (RES) :

• Reports Q4 (Dec) loss of $0.18 per share, $0.01 worse than the Capital IQ Consensus of ($0.17); revenues fell 57.6% year/year to $268.1 mln vs the $255.96 mln Capital IQ Consensus.
• Co said, "Industry indicators continued to decline during the quarter. The average U.S. domestic rig count during the fourth quarter was 753, a decrease of 60.7 percent compared to the same period in 2014, and a decrease of 12.8 percent compared to the third quarter of 2015."
• "In addition to lower commodity prices, the prospect of reduced access to the capital markets creates uncertainty for our customers' 2016 budgets and operational plans."

6:51 am SunEdison and Greenlight Capital announce two mutually agreed upon corporate governance initiatives, new independent director appointed effective immediately (SUNE) :

• Under the arrangement, SunEdison's Board of Directors appointed Claire Gogel as an independent director, effective immediately. Ms. Gogel is a private investor and a former Partner at Greenlight Capital, with 20 years of experience in portfolio and hedge fund management. She will also be joining the Nominating and Corporate Governance Committee and the Finance and Investment Committee of SunEdison's Board of Directors.
• Under the same arrangement, following the closing of its pending acquisition of Vivint Solar (VSLR), SunEdison will amend its bylaws to provide that, for a period of two years, the Company will not be permitted to make equity issuances without a supermajority vote of the Board (which is not obtained if two or more directors vote against such issuances), except in limited circumstances. This bylaw amendment will not affect any of the Company's contractual commitments existing at the time it is adopted. Until the bylaw amendment is effective, the Company will consult with Greenlight Capital regarding issuances of equity securities, with certain exceptions.

6:49 am Booz Allen Hamilton beats by $0.01, reports revs in-line; narrows FY16 guidance with rev at high end of range (BAH) :

• Reports Q3 (Dec) earnings of $0.41 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.40; revenues rose 0.2% year/year to $1.31 bln vs the $1.32 bln Capital IQ Consensus. 
  • Revenue results reflected the impact on cost reimbursable contracts from higher indirect spending and the release of certain provisions for the potential recovery of allowable expenses, offset by a modest decline in billable expenses and direct labor. Increased indirect spending focused primarily on bid and proposal, marketing, recruiting and administrative activities. Adjusted Operating Income of $106.2 million was relatively flat compared to the prior year period.
• Co issues in-line guidance for FY16, narrows EPS to $1.61-1.67, excluding non-recurring items, from $1.60-1.70 vs. $1.66 Capital IQ Consensus; raises FY16 revs to +0-2% (from -2 to +2%) to ~$5.27-5.38 bln vs. $5.35 bln Capital IQ Consensus.

6:49 am Kosmos Energy provides operational/financial update in advance of Q4 earnings, realizes 110% reserve replacement ratio, proved net reserves were 76.4 mln boes; FY total capex were ~$780 mln, below previous guidance (KOS) :

• Gross production volumes from the Jubilee field averaged ~106k bopd during Q4, and 102,500 bopd for the full year 2015.
• There were three liftings net to Kosmos during the fourth quarter, resulting in sales of 2.8 mln barrels.
• Gas exports continued to increase during the fourth quarter averaging ~92 million cubic feet per day and exiting the quarter at more than 110 million cubic feet per day.
• Co's proved net reserves at the end of 2015 were 76.4 mln barrels of oil equivalent, resulting in a 110% reserve replacement ratio on a net proved basis.
• Reserves increased primarily due to continued positive reservoir performance, more than offsetting the impact of lower oil prices.
• Total capex in Q4 were ~$265 mln.
• For the full year ended December 31, 2015, total capex were ~$780 million, below previous guidance of $800 mln.
• As of the year-ended 2015, Kosmos' commodity derivative asset position had a mark-to-market value of ~$235 mln.
• Q4 results are expected to include a mark-to-market gain of ~$80 mln related to the Company's oil derivative contracts.

6:47 am Kosmos Energy announced today that its Guembeul-1 exploration well has made a significant gas discovery, entered into MOU with national oil companies of Senegal and Mauritania (KOS) :

• Well encountered 101 meters of net gas pay in two excellent quality reservoirs, including 56 meters in the Lower Cenomanian and 45 meters in the underlying Albian, with no water encountered. Guembeul-1 has demonstrated reservoir continuity as well as static pressure communication with the Tortue-1 well in the Lower Cenomanian, suggesting a single, large gas accumulation
• The well has significantly de-risked adjacent prospectivity, including proving the existence of excellent quality reservoirs in the Albian
• The Pmean gross resource estimate for the Greater Tortue Complex has increased to 17 Tcf from 14 Tcf
• The MOU enables Kosmos and the two governments to work together toward early development of this field

CEO Andrew Inglis states, "The Guembeul-1 well continues our 100% success rate in the outboard Cretaceous petroleum system offshore Senegal and Mauritania, which we believe is a strategically important new oil and gas province and we are focused on unlocking the basin's full potential."

6:34 am Textron misses by $0.01, misses on revs; guides FY16 EPS below consensus, revs in-line (TXT) :

• Reports Q4 (Dec) earnings of $0.81 per share, excluding $0.01 discontinued ops, $0.01 worse than the Capital IQ Consensus of $0.82; revenues fell 4.2% year/year to $3.92 bln vs the $4.23 bln Capital IQ Consensus.
  • Textron segment profit in the quarter was $378 million, down $20 million from the fourth quarter of 2014.
  • Fourth quarter manufacturing cash flow before pension contributions was $534 million compared to $449 million during last year's fourth quarter.
• Co issues guidance for FY16, sees EPS of $2.60-2.80 vs. $2.88 Capital IQ Consensus; sees FY16 revs +6% to ~$14.3 bln vs. $14.33 bln Capital IQ Consensus. The co is estimating cash flow from continuing operations of the manufacturing group before pension contributions will be between $600 and $700 million with planned pension contributions of about $60 million.  
• "While overall revenues were down in the quarter, we were encouraged by continued strong demand at Industrial, the ramp-up of our new Latitude business jet and the positive customer reception to our new Longitude and Hemisphere jets announced during November's National Business Aviation Association Exhibition."

6:33 am Marketaxess beats by $0.02, reports revs in-line; announces 30% dividend increase (MKTX) :

• Reports Q4 (Dec) earnings of $0.65 per share, $0.02 better than the Capital IQ Consensus of $0.63; revenues rose 9.1% year/year to $76.6 mln vs the $76.22 mln Capital IQ Consensus.
• Record total trading volume of $250.4 billion, up 18.5%; Record estimated U.S. high grade market share of 17.6%, up from 16.1%
• "Fourth quarter and full year earnings results show continued strong growth, driven by an acceleration of market share gains across core products."
• 30% dividend increase: The Company's board of directors declared a 30% increase in the quarterly cash dividend to $0.26 per share of common stock outstanding, to be paid on February 25, 2016 to stockholders of record as of the close of business on February 11, 2016.
• Expense/spending guidance: The Company expects total expenses for 2016 to be in the range of $168.0 million to $176.0 million and its capital spending for 2016 to be in the range of $18.0 million to $22.0 million. The Company also anticipates that the overall effective tax rate for 2016 will be between 34% and 36%.

6:31 am Axsome Therapeutics receives a patent which provides coverage for AXS-02, one of Axsome's late-stage product candidates (AXSM) : The patented claims cover the use of zoledronic acid (the active moiety in AXS-02) for the treatment of bone marrow lesions of the knee. AXS-02 is in development for the pain of knee osteoarthritis associated with BMLs. The term of the issued patent extends into 2033

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

• China Yuchai (CYD) announced that its wholly-owned subsidiary Venture Lewis Limited has entered into a loan agreement with HL Global Enterprises Limited for the extension of a loan of S$68,000,000 to HLGE. The original amount of the Loan was S$93,000,000 which was granted to HLGE in February 2009 to refinance the zero coupon, unsecured, non-convertible bonds issued by HLGE in 2006 and which matured on July 3, 2009. The principal amount has been reduced to S$68,000,000 pursuant to partial repayments totaling S$25,000,000 made by HLGE in 2011, 2012 and 2013 from disposal of assets. The Company through another wholly-owned subsidiary, Grace Star Services Ltd., owns 48.9% of the issued ordinary shares of HLGE.
• Tutor Perini (TPC) awarded a contract by Wurzak Hotel Group and DoveHill for construction of a dual-branded Tribute Portfolio and Element by Westin Hotel in downtown Fort Lauderdale. The contract value was not disclosed. Pre-construction is currently underway and construction is expected to begin in the spring of 2016 with substantial completion expected in the fall of 2017. The contract value is expected to be included in the Company's reported first quarter backlog.
• ImmunoCellular Therapeutics (IMUC) entered into a sponsored research agreement with Eduardo Davila, PhD, Associate Professor of Microbiology and Immunology at the University of Maryland School of Medicine, and the University of Maryland, Baltimore. The agreement includes three projects, which together have the potential to improve the efficacy of dendritic cell, T-cell, and combination immunotherapies for cancer and lead to enhancements to both of ImmunoCellular's dendritic cell and Stem-to-T-cell platforms.
• Ku6 Media (KUTV) entered into a strategic cooperation agreement with 720Yun.com to enhance the Company's virtual reality strategy. Pursuant to the Agreement, 720Yun.com will provide three-dimensional panorama technology and contents to Ku6 Media in the form of video and picture, and serve as technical support for the Company's new VR products. The two companies will work together in exploring and developing potential business models relating to three-dimensional panorama contents.

6:18 am Ferrari reports prelim Q4 (Dec) revenues and net profit (RACE) :

• Reports preliminary Q4 (Dec) revenues rose 3.2% year/year to 685 mln, may not compare the 733.02 mln Capital IQ Consensus; reports Q4 net profit of 55 mln euro.
• Ferrari will separately report its Q4 and full year 2015 financial results prepared in accordance with International Financial Reporting Standards (:IFRS) as issued by the International Accounting Standards Board and IFRS as endorsed by the European Union, after those results have been approved by Ferrari's Board of Directors at a meeting which is scheduled for February 2, 2016.
• The financial information regarding Ferrari which was reported by FCA and is set forth below, is not necessarily consistent with the results that will be reported by Ferrari.

6:12 am Prosperity Bancshares beats by $0.03, misses on revs; Board authorizes share buyback for up to 5% of shares outstanding (PB) :

• Reports Q4 (Dec) earnings of $1.01 per share, $0.03 better than the Capital IQ Consensus of $0.98; net intererst income plus noninterest income fell 11.4% year/year to $183.6 mln vs the $187.39 mln Capital IQ Consensus. 
• "We saw solid organic loan growth during the fourth quarter, as linked quarter loans increased $233.6 million or 2.5% (10.1% annualized) from $9.205 billion at September 30, 2015 to $9.439 billion on December 31, 2015.
• Our asset quality also improved in the fourth quarter. Nonperforming assets totaled $43.459 million or 0.23% of quarterly average interest-earning assets at December 31, 2015, compared with $48.628 million or 0.26% of quarterly average interest-earning assets at September 30, 2015. This represented a 10.6% reduction in nonperforming assets.
• The provision for credit losses was $500 thousand for the three months ended December 31, 2015 compared with $6.350 million for the three months ended December 31, 2014 and $5.310 million for the three months ended September 30, 2015."
• Board of Directors authorized a stock repurchase program under which up to 5% or ~3.54 million shares of its outstanding common stock may be acquired over the next twelve months at the discretion of management.

6:07 am Anthem misses by $0.03, reports revs in-line; reaffirms FY16 EPS guidance (ANTM) :

Reports Q4 (Dec) earnings of $1.14 per share, $0.03 worse than the Capital IQ Consensus of $1.17; revenues rose 6.6% year/year to $20.02 bln vs the $19.89 bln Capital IQ Consensus. The co reported FY15 prelim EPS results and FY16 guidance earlier this month

• Co reaffirms guidance for FY16, sees EPS of at least $10.80 vs. $10.90 Capital IQ Consensus Estimate. 
• Further guidance for FY16 includes: Medical membership is expected to be in the range of 38,800,000 -- 39,000,000. Fully insured membership is expected to be in the range of 14,600,000 -- 14,700,000 and self-funded membership is expected to be in the range of 24,200,000 -- 24,300,000. Operating revenue is expected to be in the range of $80.0 - $81.0 billion. (FY16 total revenue numbers estimates call for $85.57 bln)
• Medical enrollment totaled approximately 38.6 million members at December 31, 2015, an increase of approximately 1.1 million members, or 2.9 percent, from 37.5 million at December 31, 2014
• "We believe our strategy will be enhanced with the pending acquisition of Cigna, which we continue to expect should close in the second half of 2016"

6:03 am EverBank Financial reports EPS in-line, beats on revs (EVER) :

• Reports Q4 (Dec) earnings of $0.30 per share, in-line with the Capital IQ Consensus of $0.30; revenues rose 11.0% year/year to $233 mln vs the $224.58 mln Capital IQ Consensus.
• Net interest margin of 2.90% for the quarter, flat compared to the prior quarter. Adjusted non-performing assets to total assets1 were 0.53% at December 31, 2015. Annualized net charge-offs to average total loans and leases held for investment were 0.07% for the quarter.
• Subsequent to quarter end, the Office of the Comptroller of the Currency announced that it had terminated EverBank's 2011 consent order, as amended in 2013 and 2015, having determined that EverBank now complies with such order.

6:02 am Fiat Chrysler beats by EUR0.41, beats on revs; guides FY15 revs in-line (FCAU) :

• Reports Q4 (Dec) earnings of 0.74 per share, 0.41 better than the Capital IQ Consensus of 0.33; revenues rose 11.3% year/year to 29.41 bln vs the 28.59 bln Capital IQ Consensus.
  • Worldwide shipments were 4.6 million units, in line with 2014. Jeep's strong global performance continued with record worldwide shipments of 1.3 million up 21%.
• Guidance: Co issues for FY15, sees FY15 revs of > 110 billion vs. 112.17 bln Capital IQ Consensus Estimate.
  
• Additional Outlook for 2016 (including Ferarri)
  • Adjusted net profit > 1.9 billion
  • Net industrial debt
  • NAFTA and EMEA continue trend of improved performance
  • LATAM returns to modest profitability with Pernambuco reaching full model production in second half of 2016
  • APAC profitability improving in second half of 2016 as Jeep manufacturing localization in China completed
  • Capital expenditures in line with 2015
• Co also announced announced that it will discuss an update to its May 2014 Business Plan during its 2015 fourth quarter and full year results conference call today

6:01 am TRI Pointe Homes announces authorization of $100 mln stock repurchase program, effective Jan 26 (TPH) :  

6:01 am Cognizant Tech acquires KBACE Technologies; terms of the transaction were not disclosed (CTSH) : KBACE Tech is a privately held global consulting/tech services co specializing in cloud strategy, implementation, and integration

6:01 am Sprague Resources increases qtrly dividend to $0.5175 from $0.5025/unit (SRLP) :  

6:00 am CombiMatrix announces 1 for 15 reverse stock split (CBMX) : The Company expects that the reverse stock split will become effective as of 5:00 p.m. PT on January 29 and expects that the reverse stock split will be effective for trading purposes upon the commencement of trading on February 1.

5:54 am Shanghai...-0.52% (FXI) :  

5:54 am S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -30.00. :

5:54 am European Markets : FTSE...5884.19...-27.30...-0.50%.  DAX...9771.36...-51.40...-0.50%.

5:54 am Asian Markets : Nikkei...17164...+455.00...+2.70%.  Hang Seng...19052...+191.70...+1.00%.

5:38 am On The Wires (:WIRES) :

• CNOOC (CEO) announced that the Kenli 10-4 oilfield has commenced production. There are currently 6 wells on production, producing a total of ~6,540 barrels of crude oil per day. The oilfield is expected to reach its ODP designed peak production of approximately 9,600 barrels of crude oil per day in 2016. 
• Marsh (MMC) announced the launch of Cyber ECHO, a new global excess cyber risk facility that provides more reliable insurance coverage for organisations around the world.
• Nasdaq (NDAQ) and the Nigerian Stock Exchange have announced that NSE, which services the largest economy in Africa, will acquire Nasdaq's SMARTS Market Surveillance platform to power their compliance program.
• Omnicell (OMCL) announced plans to deliver a new, cloud-based capability that will be called DocsCorp Cloud. In addition, DocsCorp will publish new Add-Ins that will extend the functionality of cleanDocs and compareDocs within Office 365.
• Clinlab, a subsidiary of Rennova Health (RNVA) entered into an agreement with the Fulton County Department of Health & Wellness to provide technology for faster, more efficient processing and reporting of lab tests.
• Northwest Natural Gas Company (NWN), dba NW Natural, of Portland, Oregon and Carnot Compression LLC based in Scotts Valley, California have formed a consortium to build and test an innovative CNG refueling unit.

5:31 am Range Resources provides Q4 production (RRC) :

Co reports oil and gas production for the period was 50,311 bbls (average of 547 bopd) net to Range, which is a 5% decrease from 575 bopd in the previous quarter.

• The decrease was due to a combination of factors, principally a lack of new wells put on production during the quarter and natural decline of existing wells.
• Three additional new drilling rigs arrived in Trinidad during the quarter (four new rigs in total with drilling capabilities of 4,000, 2,000, 1,500, and 1,000 metres).
• These rigs are awaiting certification by the government.

5:02 am Novartis AG misses by $0.10, misses on revs; sees flat FY16 outlook for EPS and revs (NVS) :

• Reports Q4 (Dec) earnings of $1.12 per share, $0.10 worse than the Capital IQ Consensus of $1.22; revenues fell 12.8% year/year to $12.52 bln vs the $12.68 bln Capital IQ Consensus.
  • Net sales up 5% (cc) and core operating income up 10% (cc)
• Divididend: Dividend of CHF 2.70 per share, up 4%, proposed for 2015
• Outlook: Netsales and core operating income expected to be broadly in line with prior year

4:56 am United Micro beats by $0.13, reports revs in-line (UMC) :

• Reports Q4 (Dec) earnings of $0.25 per share, $0.13 better than the Capital IQ Consensus of $0.12; revenues fell 9.1% year/year to $33.85 bln vs the $33.71 bln Capital IQ Consensus.
• Quarter-over-Quarter Guidance:
  • Wafer Shipments: To remain flat
  • ASP in USD: ASP softness offset by favorable USD to NTD exchange rate
  • Profitability: Gross profit margin will be in high teens % range
  • 2016 CAPEX for Foundry Segment: $2.2bn
    

4:47 am Gold Fields reports in-line production for FY15 (GFI) :

Co reports FY15 attributable equivalent gold production is expected to be 2.16Moz, which is within 1% of the original guidance (provided in February 2015) of 2.17Moz.

• Unit cost are expected to be lower than the improved guidance (published in November 2015) with All-in Sustaining Costs (AISCF) estimated at $1,020/oz (guidance: $1,035/oz) and All-in Costs (AIC) at $1,035/oz (guidance: $1,055/oz). The original guidance (February 2015) for AISC and AIC was $1,055/oz and $1,075/oz, respectively.
• For Q4 2015, Group attributable equivalent gold production is expected to be 566.0koz (Q3 2015: 556.7koz), with AISC of $940/oz (Q3 2015: $948/oz) and AIC of $950/oz (Q3 2015: $961/oz)

4:46 am On The Wires (:WIRES) :

• Chevron (CVX) announced that its fully-owned subsidiary Unocal East China Sea began natural gas production from the first stage of the Chuandongbei Project in southwest China. Chuandongbei is one of the largest onshore gas projects developed by an international oil company and a national oil company in China.
• Pure Minutes and Western Union (WU) announced an agreement that will unite international calling solutions with one of the world's leaders in global payment services. The arrangement connects Pure Minutes with a substantial customer base that seeks quality long-distance calling and reliable money transfer solutions.
• Clavister (CLAV) entered strategic partnership with Nokia Networks (NOK) to develop and deliver advanced virtual security solutions for telcos and mobile network operators (MNOs).
• Volvo Group (VOLVY) is introducing a brand-based organization with clearer commercial accountability for the Group's various truck brands. Four separate units will be created: Volvo Trucks, UD Trucks, Renault Trucks and Mack Trucks, each with profit and loss responsibility for their respective business.
• Enea (ENEA) announced a new milestone in the evolution of the community based Enea Linux distribution.
• Infoblox (BLOX) announced Infoblox Reporting and Analytics, a powerful solution that unlocks the hidden value of core network services data.
  

4:42 am TAL Education beats by $0.05, beats on revs; guides Q4 revs above consensus (XRS) :

• Reports Q3 (Nov) earnings of $0.19 per share, $0.05 better than the Capital IQ Consensus of $0.14; revenues rose 43.1% year/year to $142.2 mln vs the $137.15 mln Capital IQ Consensus.
• Co issues upside guidance for Q4, sees Q4 revs of $166.3-168.8 mln vs. $159.45 mln Capital IQ Consensus Estimate.
• Total student enrollments increased by 56.8% year-over-year to approximately 477,960 from approximately 304,910 in the same period of the prior year.
• Total physical network increased to 301 learning centers in 24 cities as of November 30, 2015 from 300 in 19 cities as of August 31, 2015.

4:39 am STMicroelectronics misses by $0.01, reports revs in-line; guides Q1 revs above consensus; to restructure Set Top Business (STM) :

• Reports Q4 (Dec) net of breakeven, $0.01 worse than the Capital IQ Consensus of $0.01; revenues fell 8.8% year/year to $1.67 bln vs the $1.66 bln Capital IQ Consensus.
• Co issues upside guidance for Q1, sees Q1 revs of -3% sequentially to ~$1.62 bln vs. $1.61 bln Capital IQ Consensus Estimate.
• Review of co's Set Top Business
  • As a result of this, the Company announced a global workforce review, including:
  • A global workforce re-alignment that may affect approximately 1,400 employees worldwide, of which about 430 in France through
  • Annualized savings are estimated at $170 million upon completion and restructuring costs at about $170 million.
    
    

4:31 am Endurance International to offer $350 mln of senior unsecured notes due 2024 (EIGI) :  

4:30 am Timberline Resources voluntarily delists from NYSE (TLR) :

• The voluntary delisting is part of Timberline's on-going emphasis on cost control and cash conservation.

4:29 am Timmins Gold re-fi's existing $10.2 million secured credit facility (TGD) :

Co reports that it has finalized an agreement with Sprott Resource Lending Partnership and Goldcorp (GG) to re-finance its existing $10.2 million secured credit facility.

• The new credit facility is effective as of January 26, 2016 and has a maturity date of June 30, 2016. Interest is payable monthly at the rate of 12% per annum, and the principal amount outstanding is payable on the maturity date.

4:28 am Vapor receives non-compliance notice from NASDAQ; intends to request hearing (VPCO) :

The Staff indicated that, given the potential for dilution of Vapor's shareholders that may be caused by the cashless exercise provision of Vapor's Series A warrants, the Staff believes that the grace period provided to Vapor to regain compliance with the $1.00 bid price requirement is no longer warranted.

• Vapor plans to request a hearing before the Nasdaq Listing Qualifications Panel

4:24 am Apt Inv & Mgt raises quarterly div by 33% to $0.33 per share (AIV) :