9:01 am NextEra Energy subsidiary sells its ownership interest in its Forney and Lamar generating assets to an affiliate of Energy Future Holdings for ~$1.59 bln

The S&P 500 futures trade eight points above fair value.

Markets in the Asia-Pacific region ended Tuesday mostly higher. It was anything but quiet on the news front. The Asian regional indices kicked the night off on a high note and set the tone with closed out the session with all of the major stock indexes in positive territory. The notable laggard in the group was the Shanghai, which managed to only post a 0.3% gain on the day, with gains capped following a weaker than expected Manufacturing PMI, which came in at 49.6 (vs 49.8e). The data represented the worst PMI level since 2012, and the 4th straight contraction reading. The Nikkei posted gains of better than 1% which saw buyers stepping in following the release of Q3 Cap-ex spending, which blew away expectations at +11.2% (vs +2.2%e). Additionally, the release of the Japan's Nov PMI came in just shy of the preliminary reading, but with the figure coming in at 52.6, investors may have felt confident that business activity is heading in the right direction. There were a couple of central bank releases last night, but both the Reserve Bank of Australia and Reserve Bank of India left their respective key interest rates unchanged, as expected.

In economic data:

• China's November Manufacturing PMI 49.6 (expected 49.8; previous 49.8) and Non-Manufacturing PMI 53.6 (prior 53.1). Also of note, November Caixin Manufacturing PMI 48.6 (consensus 48.3; last 48.3)
• Japan's November Manufacturing PMI 52.6 (expected 52.8; last 52.8)
• South Korea's November CPI -0.1% month-over-month (expected -0.2%; previous 0.0%); +1.0% year-over-year (consensus 0.9%; prior 0.9%). Separately, November trade surplus expanded to KRW10.40 billion from KRW6.70 billion (expected surplus of KRW6.72 billion)
• India's November Nikkei Markit Manufacturing PMI 50.3 (expected 51.0; prior 50.7)
• Australia's October Building Approvals +3.9% month-over-month (expected -2.3%; last 2.3%) and Q3 Current Account deficit narrowed to AUD18.10 billion from AUD20.50 billion (expected deficit of AUD16.50 billion)
• New Zealand's Q3 Terms of Trade Index -3.7% quarter-over-quarter (expected -2.8%; last 1.5%)

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• Japan's Nikkei increased 1.3%. The index had a steady bid all session with buying picking up at the tail end of trading to close at the highs of the day. Utilities outpaced the broader market today, with the sector gaining 3.8%, followed by IT (+2.1%) and Materials (+2.1%). The worst performing sector in the Nikkei was Telecom (-0.3%) and was the only one to close underwater for the session. Shares of Takeda Pharmaceutical rose by 1.7% after the company announced yesterday that it had partnered up with Teva Pharma to boost generics growth in Japan.
• Hong Kong's Hang Seng advanced by 1.8% and finished close to session highs. Property and Energy stocks paved the way to gains last night. Among best performing names in that group were China Res Land (+7.8%), Henderson Land (+2.7%), CNOOC (+2.9%), SinoPec (+2.7%), and PetroChina (+2.5%). Gaming stocks were also on move higher after Macau gaming revs were in-line with expectations, helping to temper some fears within the industry. Among the movers were Galaxy Entertainment (+4.4%) and Sands China (+3.8%).
• China's Shanghai Composite moved 0.3% higher after a range bound struggle that saw buyers step up in the last half hour to push the index into positive territory. Financials continued to weigh on the average with Bank of China finishing down 2.2%, Ind & Comm Bank of China closing 1.5% lower and Ag Bank of China posting a 1.0% loss. In similar fashion with the Hang Seng, the property stocks were robust, with Poly RE Group closing at the upper limit of +10% on the day.

Major European indices trade in mixed fashion with UK's FTSE (+0.6%) showing relative strength. The Bank of England released the results of its stress test, which revealed that all seven major banks passed. That being said, Standard Chartered did not meet Tier-1 capital requirements while Royal Bank of Scotland has had to take steps to strengthen its capital.

Economic data was plentiful:

• Eurozone November Manufacturing PMI 52.8, as expected (previous 52.8), and October Unemployment Rate 10.7% (expected 10.8%; previous 10.8%)
• Germany's November Manufacturing PMI 52.9 (expected 52.6; previous 52.6). Separately, November Unemployment Change -13,000 (expected -5,000; previous -7,000) and November Unemployment Rate 6.3% (expected 6.4%; previous 6.4%)
• France's November Manufacturing PMI 50.6 (consensus 50.8; previous 50.8)
• Italy's November Manufacturing PMI 54.9 (expected 54.4; last 54.1)
• Swiss Q3 GDP 0.0% quarter-over-quarter (expected 0.2%; previous 0.2%); +0.8% year-over-year (consensus 0.9%; last 0.9%). Separately, October Retail Sales -0.8% year-over-year (consensus 0.4%; last 0.2%)
• Italy's October Monthly Unemployment Rate 11.5% (expected 11.7%; previous 11.6%) and Q3 GDP +0.2% quarter-over-quarter, as expected

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• UK's FTSE is higher by 0.6% with financials in the lead following the aforementioned stress test results. Barclays, Royal Bank of Scotland, Lloyds Banking, and HSBC have gained between 1.8% and 3.7%. On the downside, consumer names lag with Sainsbury, WM Morrison, and Unilever showing losses between 0.3% and 0.8%.
• Germany's DAX is lower by 0.2% with Linde diving 14.0% after issuing a profit warning. Other chemical names like K+S and BASF are both down near 1.0% while utilities outperform. RWE has surged 7.9% and E.On trades up 0.6%.
• In France, the CAC hovers just below its flat line. Air Liquide is the weakest performer, falling 3.9%, while financials and exporters have shown strength. BNP Paribas, Societe Generale, Peugeot, and Renault are up between 0.5% and 1.0%.

8:55 am Unilever NV sells Motions, Just for Me, Consort, and Groom & Clean brands, and also the TCB brand in Africa, to Strength of Nature, for an undisclosed amount (UN) :  

8:48 am Gapping down (SCANX) : Gapping down
In reaction to disappointing earnings/guidance: KANG -1.1%


Other news: BBEP -20% ( suspends distribution on its common units), CTSO -17.3% (discloses that the FDA notified it that additional data were necessary to be eligible for EAP designation status consideration), HART -5.2% (still checking), NRX -4% (filed ~10.245 mln share common stock offering by selling shareholders), BIDU -1.9% (still checking), SSH -1.8% (announces the departure of CEO David Rosa)

Analyst comments: REXX -8.8% (downgraded to Sell from Hold at Stifel), JOY -5.4% (downgraded to Underperform from Neutral at BofA/Merrill), CMI -3.4% (downgraded to Underperform from Buy at BofA/Merrill), GFI -1.2% (downgraded to Sector Perform at RBC Capital Mkts), CBOE -1.1% (downgraded to Mkt Perform from Outperform at Raymond James ), ERIC -1% (downgraded to Underperform from Neutral at Credit Suisse)

8:46 am Gapping up (SCANX) : Gapping up
In reaction to strong earnings/guidance: BLOX +21.3%, MFRM +7.6%, THO +4.9%, BMO +1.5%, SCVL +1.4%

M&A news: QIHU +3.8% (WSJ report suggesting takeover deal could be completed this month)

Select EU financial related names showing strength after BOE Stress Test: BCS +3.8%, RBS +2.7%, LYG +2.5%, HSBC +1.7%, DB +1.2%

Select metals/mining stocks trading higher: TC +5.6%, SLW +1.6%, BHP +1.5%, GOLD +1.5%, BBL +1.3%, FCX +1.1%, VALE +0.9%

Select Bio/pharma names showing strength: AEZS +16.9%, CANF +5.4%,KBIO +4.5%, NVO +1.8%, SNY +0.9%

Other news: GIGA +136% (enters into a software licensing arrangement with Lockheed Martin (LMT)),SPEX +35.1% (updates on its current and prospective patent monetization and licensing initiatives),HFFC +18.6% ( Great Western Bancorp (GWB) will acquire HF Financial Corp in cash and stock transaction valued at $19.70 per share or $139.5 mln in the aggregate),TERP +18.1% (Appaloosa sends letter to TERP saying that "aligning the company's strategic focus around acquiring projects from its Sponsor" offers little apparent benefit for TERP stakeholders"),RYAM +13.4% (Rayonier Adv. Materials and Eastman Chemical Company (EMN) settle their legal dispute and enter into a new cellulose specialties purchase and sale agreement extending through 2019),CLBS +12.5% (announces publication of Phase 1 clinical study of an autologous Treg immunotherapy for type 1 diabetes study that demonstrated persistence of tregs, safety and feasibility),ARNA +11.7% (announced that the Camellia-Timi 61 study has reached its target enrollment of 12,000 patients at more than 470 sites in eight countries),SYN +8.4% (announces positive topline results from its first Phase 2a Clinical Trial of SYN-004),DHRM +7.1% (Hangzhou Liaison Interactive offers to buy 10 mln shares at $2.00),SUNE +6.3% (Appaloosa sends letter to TERP saying that "aligning the company's strategic focus around acquiring projects from its Sponsor" offers little apparent benefit for TERP stakeholders"),VJET +5.8% (to form an equity JV with Suzhou Meimai Fast Manufacturing Technology to pursue opportunities in the industrial 3D printing market in China),SGMO +4.5% (announces FDA clearance of investigational new drug application for SB-FIX),NOK +2.9% (announced the commercial availability of the OZO virtual reality camera),LOCK +2.4% ( announces a $100 mln share repurchase program ),FCAU +1.1% ( reports November 2015 U.S. Sales)

Analyst comments: QURE +5.8% (initiated with a Buy at Janney; $40 tgt),CONN +4% (upgraded to Buy at Stifel),RARE +3.4% (initiated with a Buy at Stifel),NOK +2.8% (upgraded to Outperform from Neutral at Credit Suisse),ALU +2.5% (upgraded to Outperform from Neutral at Credit Suisse),YUM +1.3% (upgraded to Outperform from Market Perform at Cowen),AMZN +1% (target raised to $850 from $700 at Barclays),MRK +0.8% (upgraded/resumed with an Overweight at Barclays),CVE +0.7% (upgraded to Neutral from Sell at Goldman)

8:35 am SMTP changes name to SharpSpring, ticker to become SHSP effective today (SMTP) :  

8:34 am Enzymotec announces Novel Food approval in Europe for its inCog product (ENZY) : The firm's inCog product received Novel Food approval in Europe for conventional food, food supplements and dietary food for special medical purposes.

8:34 am XOMA exclusively licenses the global development and commercialization rights to its XMetA program of allosteric monoclonal antibodies that up-regulate the insulin receptor to Novo Nordisk (NVO) (XOMA) : Under the terms of the agreement, XOMA retains commercialization rights for rare disease indications. Novo Nordisk has an option to add these additional rights in rare diseases to its license. XOMA will receive $5.0 million in the form of an upfront payment, and the agreement includes up to $290.0 million in additional potential development, regulatory and commercial milestones (excluding potential option payments). In addition, XOMA is eligible to receive tiered royalties on product sales.

8:33 am Capstone Turbine received orders for a C800 microturbine and a C200 microturbine to generate steam for two customers in Germany (CPST) : Capstone's German distributor secured the orders, which are expected to be commissioned in spring 2016. Each methane-fueled microturbine will be installed in a combined heat and power (:CHP) application to be used in all phases of the production process.

8:33 am Relm Wireless receives $2.2 mln in orders from a new state public safety customer in Oregon (RWC) :

• Co announced that it received orders totaling approximately $2.2 million from a new state public safety customer in Oregon
• The orders include KNG-series mobile radios and related accessories that will be deployed throughout the state
• The initial order, which totals ~$1.4 million, is anticipated to be fulfilled in Q4 2015
• The remaining orders totaling ~$0.8 million address the agency's requirements for 2016 through 2019
• Although these orders are considered firm, they do not specify the precise date for delivery in each year

8:33 am MobileIron and Good Technology settles all outstanding litigation b/t them for confidential amount (MOBL) : The settlement includes a narrow, non-material license agreement between Good and MobileIron and a mutual dismissal of claims.

8:32 am Ampio Pharma announces January 5, 2016 as the ex distribution date for the distribution of stock to Aytu BioScience shareholders (AMPE) :  

8:32 am Female Health reports Q4 EPS of $0.02 vs ($0.02) yar ago; revenues up 29% to $7.2 mln and unit sales +41% (FHCO) : Gross profit margin for the three months ended September 30, 2015 improved six percentage points to approximately 58% of net revenues, versus 52% of net revenues for the same period last year. The increase reflects the favorable impact of changes in currency exchange rates, increased volume and improved efficiency.

8:31 am Aeterna Zentaris finalizes co-marketing agreement with Armune BioScience to promote Armune's APIFINY non-PSA blood test for the detection of prostate cancer (AEZS) : Under the co-marketing agreement, the Company will promote APIFINY to designated medical professionals in its U.S. territories and will receive a commission for each test performed resulting from its targeted promotion. 

8:31 am Live Ventures announces it will sell seven of its Marquis Industries properties, via a sale-lease back transaction (LIVE) : Co announces that it intends to sell the seven properties owned and managed by its wholly owned subsidiary, Marquis Industries. The co has listed the properties for sale through Marcus & Millichap (MMI). The intent is to sell these properties in a sale-lease back transaction, in which Marquis will secure long-term leases for each of these properties from the new owners. The co is listing the properties for a total of $13 mln, in the aggregate, which it intends to apply toward extinguishing high-interest debt.

8:31 am Dakota plains plan of compliance approved by NYSE (DAKP) :

• Co announces that the NYSE MKT has accepted Dakota Plains' plan to regain compliance with the NYSE MKT's continued listing standards and granted the Company until March 14, 2017 to regain compliance with Section 1003 and Section 1003 of the NYSE MKT Company Guide. Dakota Plains will be subject to periodic review by Exchange Staff during the compliance plan period.
• Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE MKT.

8:30 am Performance Sports appoints Mark Vendetti as CFO, effective December 14, 2015 (PSG) : Vendetti is currently the CFO of Francesca's Holdings Corporation (FRAN)

8:28 am European Markets Update: FTSE +0.6%, DAX -0.1%, CAC -0.1% (:SUMRX) :

Major European indices trade in mixed fashion with UK's FTSE (+0.6%) showing relative strength. The Bank of England released the results of its stress test, which revealed that all seven major banks passed. That being said, Standard Chartered did not meet Tier-1 capital requirements while Royal Bank of Scotland has had to take steps to strengthen its capital.

Economic data was plentiful:

• Eurozone November Manufacturing PMI 52.8, as expected (previous 52.8), and October Unemployment Rate 10.7% (expected 10.8%; previous 10.8%)
• Germany's November Manufacturing PMI 52.9 (expected 52.6; previous 52.6). Separately, November Unemployment Change -13,000 (expected -5,000; previous -7,000) and November Unemployment Rate 6.3% (expected 6.4%; previous 6.4%)
• France's November Manufacturing PMI 50.6 (consensus 50.8; previous 50.8)
• Italy's November Manufacturing PMI 54.9 (expected 54.4; last 54.1)
• Swiss Q3 GDP 0.0% quarter-over-quarter (expected 0.2%; previous 0.2%); +0.8% year-over-year (consensus 0.9%; last 0.9%). Separately, October Retail Sales -0.8% year-over-year (consensus 0.4%; last 0.2%)
• Italy's October Monthly Unemployment Rate 11.5% (expected 11.7%; previous 11.6%) and Q3 GDP +0.2% quarter-over-quarter, as expected

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• UK's FTSE is higher by 0.6% with financials in the lead following the aforementioned stress test results. Barclays, Royal Bank of Scotland, Lloyds Banking, and HSBC have gained between 1.8% and 3.7%. On the downside, consumer names lag with Sainsbury, WM Morrison, and Unilever showing losses between 0.3% and 0.8%.
• Germany's DAX is lower by 0.1% with Linde diving 14.0% after issuing a profit warning. Other chemical names like K+S and BASF are both down near 1.0% while utilities outperform. RWE has surged 7.9% and E.On trades up 0.6%.
• In France, the CAC hovers just below its flat line. Air Liquide is the weakest performer, falling 3.9%, while financials and exporters have shown strength. BNP Paribas, Societe Generale, Peugeot, and Renault are up between 0.5% and 1.0%.

8:28 am On The Wires (:WIRES) :

• Hanwha Q CELLS (HQCL) announced it has finished construction and grid connection of an 8.3 MW solar power plant in Burdur, Turkey. The system is the first part of a project totaling 18.3 megawatts. The construction of the second part, comprising 10 MW, is expected to start in 2016. Moreover, the company has closed $20.15 mln project financing.
• Eisai Inc. and Arena Pharmaceuticals (ARNA) announced that the Camellia-Timi 61 study has reached its target enrollment of 12,000 patients at more than 470 sites in eight countries.
• ImmunoGen (IMGN) announced the presentation of new preclinical data with the Company's experimental therapies IMGN529 and IMGN779 to be made at the upcoming American Society of Hematology annual meeting
• Actinium Pharmaceuticals (ATNM) will present data from the Phase 1 trial for Actimab-A at the upcoming ASH meeting in Orlando.

8:28 am On The Wires (:WIRES) :

• 8x8 (EGHT) will open a new office in Manchester as it continues to expand its UK-based operations.
• R.J. Reynolds Tobacco Company (RAI) announced that is has signed a vapor technology agreement with Nicoventures Holdings Limited
• InnerWorkings (INWK) entered an exclusive partnership to enhance the marketing supply chain of Weis Markets. 
• Silicom (SILC) announced that two of its Cyber Security customers have awarded Silicom new Design Wins for its Quick Assist Technology-optimized, Coleto Creek-based, encryption hardware accelerators and other networking solutions. Both customers have placed initial purchase orders, and total sales from the Design Wins are projected to ramp up to $2 mln per year.
• UTi Worldwide (UTIW) has introduced new multimodal hubs in Kuala Lumpur and Ho Chi Minh City to tackle the challenges of static air cargo capacity and service its Worldwide Gateways in Europe and the USA.
• Cryoport (CYRX) announced that it has been selected by QPS Hepatic Biosciences, a subsidiary of QPS Holdings, as its cryogenic logistics partner supporting QPS's cryopreserved hepatocytes businesses in the USA and the EU
• Cornerstone OnDemand (CSOD) and ADP (ADP) expand their partnership. As part of the agreement, Cornerstone's learning and performance management solution for small businesses, Cornerstone Growth Edition, is expected to be made available to ADP customers via the ADP Marketplace in early 2016.
• Semtech (SMTC) announced its LoRa wireless RF technology selected by Cesk Radiokomunikace as the RF platform for the  co's first Internet of Things-based pilot program.

8:26 am S&P futures vs fair value: +10.20. Nasdaq futures vs fair value: +23.40. (:WRAPX) :

Equity futures remain comfortably in the green while Treasuries sit just above their overnight lows as the 10-yr yield flirts with the 2.23% level.

Elsewhere, the Dollar Index (100.00, -0.17) is lower by 0.2%, but the despite today's slight pullback, the index remains just a shade below its 2015 high of 100.39 that was notched in the middle of March. As for today's move, the dollar has given up 0.3% to the euro (1.0600), but the greenback trades little changed against the yen (123.15) and the British pound (1.0565).

8:16 am ARAMARK Holdings outlines FY18 target at Investor Day (ARMK) : At its Investor Day today, Aramark will among other things discuss its goal to improve its adjusted operating income margin by 100 bps by the end of fiscal 2018 and that, based upon certain assumptions outlined in the presentation, meeting that goal would help the Company to achieve an adjusted earnings per share goal of $2.20 for fiscal 2018.

8:14 am Caesarstone: Kibbutz Sdot-Yam urges co shareholders to vote for independent nominees Yitzhak Sharir and Amnon Dick (CSTE) :  

8:14 am Nevsun Resources reports new assay results from drilling at Harena-part of the on-going 2015 regional exploration program at Bisha (NSU) :

New drilling demonstrates continuity of Harena mineralization.

• Co stated: "Our drilling at Harena continues to produce excellent results. We are very encouraged by the higher zinc grades being encountered at depth in addition to the continuous copper-rich zone. Harena remains open at depth and there is still considerable potential along strike to the north and south. Drilling in 2015 has tightened our drill spacing to 100 metre centres down to a depth of 600 metres below surface. An updated mineral resource estimate is due out in early January 2016".

8:08 am Lexicon Pharma reports positive top-line results in a second Telecast Phase 3 Clinical Trial (LXRX) :

Co announces that top-line data from its TELECAST Phase 3 study showed results of telotristat etiprate in treating carcinoid syndrome in cancer patients with metastatic neuroendocrine tumors consistent with the clinical benefit observed in its pivotal TELESTAR study. The TELECAST study was designed as a companion to TELESTAR primarily to provide additional safety exposure while further evaluating telotristat etiprate's activity in carcinoid syndrome.

Telotristat etiprate met the study's primary efficacy endpoint. In addition, despite the lower baseline bowel movement frequency than in TELESTAR, telotristat etiprate achieved statistically significant reductions in daily bowel movement frequency over the 12 weeks of the study. Telotristat etiprate was well tolerated during the double-blind treatment period.

8:06 am Rosetta Genomics reports Q3 results (ROSG) :

• Q3 EPS $0.27 v. $0.29 last year; rev +790% to $2.4 mln (no estimates).
  • Gross billings for the third quarter of 2015 were $7.5 million compared with gross billings of $644,000 in the third quarter of 2014.
  • Revenue from solid tumor testing services in the third quarter of 2015 increased 319% to $1.1 million.
• "The third quarter of 2015 was the first full quarter of PersonalizeDx being part of Rosetta Genomics and we had strong revenue growth from our two lines of business, namely solid tumor testing services and urologic cancer testing services.

8:05 am Cytori Therapeutics announces the signing of a non-exclusive, 3 year distribution agreement with Worthington Biochemical Corporation for the Celase GMP enzyme (CYTX) : Co signed a non-exclusive, 3 year distribution agreement with Worthington Biochemical Corporation for Celase GMP enzyme for research markets in the U.S. and select international countries.

8:04 am Sutor Technology receives NASDAQ non-compliance letter due to delay in filing its 10Q;also receives a letter indicating that SEC concluded investigation of the firm and does not intend to recommend an enforcement action (TOR) :

• The Company has until December 14, 2015, to submit a plan to regain compliance with respect to the above delinquent reports. The Nasdaq Listing Rules provide that the Staff can grant the Company an exception of up to 180 calendar days from the filing's due date, or March 28, 2016 to regain compliance if Nasdaq accepts the Company's plan of compliance. The Company expects to submit the delinquent reports or the plan of compliance before the deadline.

8:03 am VBL Therapeutics reports being granted a US patent for VB-111 (VBLT) : Co announces the grant of US Patent No. 9,200,056, entitled "A Fas-Chimera Adenovirus Vector" by the USPTO which covers VB-111, VBL's lead drug candidate. This composition patent provides intellectual property protection for VB-111 in the US until October 2033 before any patent term extension.

8:03 am Q2 Holdings acquires Social Money for $10.6 mln cash payable (QTWO) :

• Co announced the acquisition of Des Moines, Iowa-based Social Money
• The addition of Social Money marks Q2's second acquisition in 2015, and further fuels its development of secure banking platform solutions for community financial institutions across the country
• Q2 acquired all of the outstanding interests of Social Money in exchange for $10.6 million cash payable at closing, subject to a customary working capital adjustment

8:03 am Cepheid reaffirms Q4/2015 outlook, initiates in-line 2016 revenue outlook and discusses 2017 targets with slightly lowered margin outlook (CPHD) :

• Co reaffirms guidance for Q4 (Dec), sees EPS of ($0.19)-(0.17) vs. $0.02 Capital IQ Consensus Estimate; sees Q4 (Dec) revs of $146 -150 mln vs. $146.96 mln Capital IQ Consensus Estimate.
• Co issues in-line guidance for FY16 (Dec) revs of $618 to $635 mln vs. $620.16 mln Capital IQ Consensus Estimate.
• Finally, the Company updated its 2017 outlook to a non-GAAP gross margin range of 56% to 58% and non-GAAP operating margin in the mid- to high-teens. This compares to the prior 2017 targets of ~60% non-GAAP gross margin and low-20s non-GAAP operating margin. "While we are adjusting our 2017 outlook, we believe that we remain poised for a 'breakthrough' to profitability and are confident in our ability to transition to solid and sustainable operating margin even as we continue to target above industry growth rates," concluded Bishop.

8:03 am Voxeljet AG to form an equity JV with Suzhou Meimai Fast Manufacturing Technology to pursue opportunities in the industrial 3D printing market in China (VJET) :

Among the indirect shareholders of Meimai are MK Technology GmbH and Metang Novatech Shanghai Co., Ltd. The joint venture shall be called voxeljet China Ltd., subject to the approval by the local authorities. voxeljet China Ltd. will be controlled by voxeljet, who is holding a supermajority interest in the joint venture. Other terms of the transaction were not disclosed.

• voxeljet China Ltd. will be headquartered in the city of Suzhou, near Shanghai, and is expected to begin providing on-demand part services from a temporary facility in the second quarter of 2016. The joint venture parties are in the early planning stages for a larger facility, which is expected to be similar in size to voxeljet's existing service facilities in Germany and the United States.

8:02 am Celanese confirms it will proceed with permanently reducing capacity at its Lanaken, Belgium, acetate tow production facility by 50 percent, as previously proposed (CE) : As a result of the restructuring measures at the Lanaken facility, Celanese expects to record exit costs of ~$35-40 mln w/ the majority of cash outflows occurring over the next six months. These expenses will be excluded from the co's adjusted EPSand operating EBIT measures.

8:02 am Federal-Mogul and China Automotive Import and Export announce the expansion of the automotive aftermarket business in China (FDML) : Federal-Mogul Holdings (FDML), and China Automotive Import and Export Co. Ltd., a nationwide state-owned 4S automotive distribution network, announced the formation of a joint venture, Federal-Mogul CAIEC Automotive Technology Services (Beijing) Co., Ltd., focused on automotive aftermarket vehicle repair business within China. Federal-Mogul Motorparts will be the preferred supplier to the joint venture, providing its portfolio of premium-branded automotive parts for distribution through a network of company- owned stores and outlets to be established by the joint venture under the brand name, Motorcare. Additional terms of the transaction were not disclosed.

8:01 am Fiat Chrysler reports November 2015 U.S. Sales of +3% Y/Y to 175,974 units; notes it was the best November in 15 years (FCAU) : Co reports US November sales of 175,974 units, up 3% YoY. It was the group's best November sales since 2000. The Jeep and Ram Truck brands each posted YoY sales gains in November. The Jeep brand's 20% increase was the largest sales gain of any FCA US brand during the month. The group extended its streak of YoY sales gains to 68-consecutive months. Jeep brand sales being up 20% was the best November sales ever. Jeep Cherokee, Jeep Compass, Jeep Patriot, and Jeep Wrangler recorded their best November sales ever. Dodge Challenger and Dodge Journey log their best November sales ever. Ram pickup truck registers its best November sales ever.

8:01 am Galmed Pharmaceuticals announces FDA Clearance of IND of Aramachol for the treatment of patients with HIV-Associated Lipodystrophy and Nonalcoholic Fatty Liver disease (GLMD) : Co announced that the U.S. Food and Drug Administration (:FDA) has cleared Galmed's Investigational New Drug (IND) application for the ARRIVE Study, a proof-of-concept clinical trial that will evaluate the safety and efficacy of Aramachol in up to 50 patients with HIV-associated lipodystrophy and nonalcoholic fatty liver disease, or NAFLD.

7:58 am On The Wires (:WIRES) :

• Acasti Pharma (ACST) announced that the Japanese, Taiwanese and Mexican patent offices have each recently granted Acasti a composition and use patent. The Patents are all valid until 2030 and relate to concentrated therapeutic phospholipid omega-3 compositions covering methods for treating or preventing diseases associated with cardiovascular diseases, metabolic syndrome, inflammation, neurodevelopmental diseases, and neurodegenerative diseases.
• Jacobs Engineering Group (JEC) was awarded a construction management services re-compete contract in support of the Cobb County Water System's 2015-2020 Capital Improvement Program in Georgia and received a 37 month contract from Asian Paints Limited to provide engineering services for a greenfield paint plant in India.
• Remark Media (MARK) entered into a contract to manage local marketing and community relations efforts for ride-sharing service Lyft in Las Vegas.

7:56 am S&P futures vs fair value: +9.70. Nasdaq futures vs fair value: +22.10. (:WRAPX) :

U.S. equity futures hold modest pre-market gains amid mixed action overseas. The S&P 500 futures hover almost ten points above fair value.

Meanwhile, Treasuries sit in the red with the 10-yr yield up almost three basis points at 2.23%.

Today will be relatively quiet on the economic front with data limited to October Construction Spending (Briefing.com consensus 0.7%) and the November ISM Index (consensus 50.4). Both reports are set to be released at 10:00 ET.

In U.S. corporate news of note:

• Infoblox (BLOX 17.67, +2.63): +17.5% after beating estimates, guiding ahead of analyst expectations, and announcing a $100 million share repurchase program
• Joy Global (JOY 14.60, -0.75): -4.9% after Bank of America/Merrill Lynch downgraded the stock to 'Underperform' from 'Neutral.'

Reviewing overnight developments:

• Asian markets ended higher. China's Shanghai Composite +0.3%, Japan's Nikkei +1.3%, and Hong Kong's Hang Seng +1.8%
  • In economic data:
    • China's November Manufacturing PMI 49.6 (expected 49.8; previous 49.8) and Non-Manufacturing PMI 53.6 (prior 53.1). Also of note, November Caixin Manufacturing PMI 48.6 (consensus 48.3; last 48.3)
    • Japan's November Manufacturing PMI 52.6 (expected 52.8; last 52.8)
    • South Korea's November CPI -0.1% month-over-month (expected -0.2%; previous 0.0%); +1.0% year-over-year (consensus 0.9%; prior 0.9%). Separately, November trade surplus expanded to KRW10.40 billion from KRW6.70 billion (expected surplus of KRW6.72 billion)
    • India's November Nikkei Markit Manufacturing PMI 50.3 (expected 51.0; prior 50.7)
    • Australia's October Building Approvals +3.9% month-over-month (expected -2.3%; last 2.3%) and Q3 Current Account deficit narrowed to AUD18.10 billion from AUD20.50 billion (expected deficit of AUD16.50 billion)
    • New Zealand's Q3 Terms of Trade Index -3.7% quarter-over-quarter (expected -2.8%; last 1.5%)
  • In news:
    • The Reserve Bank of India made no changes to its policy stance, keeping its key rate at 6.75%, as expected
    • The Reserve Bank of Australia also held its policy unchanged, leaving the key rate at 2.00%, as expected

• Major European indices trade in mixed fashion. UK's FTSE +0.6%, Germany's DAX -0.2%, and France's CAC -0.1%. Elsewhere, Italy's MIB +0.5% and Spain's IBEX +0.4%
  • Economic data was plentiful:
    • Eurozone November Manufacturing PMI 52.8, as expected (previous 52.8), and October Unemployment Rate 10.7% (expected 10.8%; previous 10.8%)
    • Germany's November Manufacturing PMI 52.9 (expected 52.6; previous 52.6). Separately, November Unemployment Change -13,000 (expected -5,000; previous -7,000) and November Unemployment Rate 6.3% (expected 6.4%; previous 6.4%)
    • France's November Manufacturing PMI 50.6 (consensus 50.8; previous 50.8)
    • Italy's November Manufacturing PMI 54.9 (expected 54.4; last 54.1)
    • Swiss Q3 GDP 0.0% quarter-over-quarter (expected 0.2%; previous 0.2%); +0.8% year-over-year (consensus 0.9%; last 0.9%). Separately, October Retail Sales -0.8% year-over-year (consensus 0.4%; last 0.2%)
    • Italy's October Monthly Unemployment Rate 11.5% (expected 11.7%; previous 11.6%) and Q3 GDP +0.2% quarter-over-quarter, as expected
  • Among news of note:
    • The Bank of England released the results of its stress test, which revealed that all seven major banks passed. That being said, Standard Chartered did not meet Tier-1 capital requirements while Royal Bank of Scotland has had to take steps to strengthen its capital.

7:46 am Agile Therapeutics receives $6 million in non-dilutive financing through the State of New Jersey's Technology Business Tax Certificate Transfer Program (AGRX) : The Program enables approved biotechnology companies to sell their unused Net Operating Loss Carryovers, and unused Research and Development Tax Credits for at least 80% of the value of the tax benefits to unaffiliated, profitable corporate taxpayers in the State of New Jersey.

7:34 am Caladrius Biosciences announces publication of Phase 1 clinical study of an autologous Treg immunotherapy for type 1 diabetes study that demonstrated persistence of tregs, safety and feasibility (CLBS) : In the Phase 1 trial, subjects received ex vivo-expanded Tregs, ranging in dose from 5 mln-2.6 bln cells. The study found that autologous Tregs can be expanded and were well tolerated in patients with recent-onset T1D. Additionally, the Tregs retained their T cell receptor diversity and demonstrated enhanced functional activity. Caladrius expects to commence patient enrollment in a Phase 2 study, in strategic collaboration with Sanford Research, as early as 1Q16.

7:32 am Xtant Medical receives FDA clearance for expanded indications of iFortex and the Xpress 2 Pedicle Screw System, to include ilium fixation as well as extended length screws (XTNT) :  

7:32 am Bellatrix Exploration announces redetermination of borrowing base, agrees to allow shareholder agreement with Orange Capital expire (BXE) :

The co announces the results of its semi-annual borrowing base redetermination under the Company's secured revolving credit facilities resulting in approximately $200 million of available liquidity based on September 30, 2015 debt balances.

• Effective November 30, 2015, the borrowing base of the Company's Credit Facility has been reduced by 10% from $600 million to $540 million. The Credit Facility is available on an extendible revolving term basis and consists of a $65 million operating facility provided by a Canadian bank and a $475 million syndicated facility provided by nine financial institutions, subject to a borrowing base test.
• Bellatrix also announces that the Company and Orange Capital LLC have mutually agreed to allow the expiration, as of November 30, 2015, of the shareholder agreement entered into on December 12, 2014. Through its two director nominees, Orange Capital continues to work collaboratively with Bellatrix management and the board of directors with the shared goal to maximize long-term value for all shareholders. Orange Capital beneficially owns approximately 32.7 million shares or 17.0% of the Company's basic shares outstanding and US$15 million or 6% of the Company's 8.5% senior unsecured notes due 2020.

7:31 am Colliers acquires Summit Realty Group; terms not disclosed (CIGI) : Summit Realty Group consists of 70 professionals in Indianapolis

7:31 am NeoThetics, Inc. tightens the guidance for timing of top-Line pivotal Phase 3 data for LIPO-202; Abcountour trials 1 and 2 data will be released mid-December (NEOT) :  

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

• Immunomedics (IMMU) announced that it will present at the 57th American Society of Hematology Annual Meeting, initial results on IMMU-114, which is in a Phase 1, first-in-man, clinical trial for patients with hematological cancers. The results will show excellent safety for the convenient subcutaneous administration, with first evidence of disease control in almost half of the patients.
• Sunesis Pharmaceuticals (SNSS) announced that the first patient has been treated in an investigator-sponsored pilot study of vosaroxin and cytarabine in adult patients age 60 years and older with previously untreated acute myeloid leukemia. The primary endpoint of the study is rate of complete remission, including complete remission with incomplete blood count recovery.
• Celator Pharmaceuticals (CPXX) announced that data for Vyxeos (formerly CPX-351), its lead product candidate, will be presented at the 57th American Society of Hematology Annual Meeting and Exposition
• Amazon (AMZN) announced that this holiday shopping weekend was the best ever for Amazon devices. Amazon Fire TV sales on Amazon this weekend up more than 6x year over year, Millions of 7" Fire tablets sold since launch-Fire tablet sales this holiday shopping weekend up more than 3x year over year.

7:26 am On The Wires (:WIRES) :

• Rentrak (RENT) signed a long-term TV measurement agreement with Waterman Broadcasting in Fort Myers, Fla. Under the agreement, WBBH-TV (NBC - GE unit) and WZVN-TV will utilize Rentrak's daily demographic and household ratings, as well as Rentrak's political Advanced Demographics, as selling currencies for the upcoming election.
• Community Health Systems (CYH) announced that subsidiaries of the cohave executed a definitive agreement to sell substantially all of the assets of The Memorial Hospital of Salem County, a 126-bed hospital in Salem, New Jersey, along with related outpatient services, to Prime Healthcare Foundation. The divestiture is expected to close by the end of 2Q16, subject to customary regulatory approvals and closing conditions. Co does not expect the divestiture to have a meaningful impact on financial operations.
• Acceleron Pharma (XLRN) will present a late breaking abstract describing results from the ACE-083 Phase 1 clinical trial in the Late Breaking Clinical Trials Session at the 8th International Conference on Cachexia, Sarcopenia, and Muscle Wasting in Paris, France, December 4-6, 2015.
• Akers Biosciences (AKER) announced an update on the progress of its 19.9%-owned Chinese joint venture company, Hainan Savy Akers Biosciences. The Savy Akers' 10K square foot production facility in Haikou National Hi-Tech Industrial Zone, Hainan province, is now fully operational. The production facility is fully staffed and regulatory approval for the manufacturing of products is expected imminently.
• Nivalis Therapeutics (NVLS) announced the first patient was dosed in the Phase 2 clinical study of its lead investigational drug, N91115, a stabilizer of the cystic fibrosis transmembrane conductance regulator protein. The study is expected to be completed in the second half of 2016.
• Trecora Resources (TREC) announced plans to construct a 4,000 barrels per day reformer unit at its South Hampton Resources subsidiary in Silsbee, Texas. The capital investment for this project is estimated at $40 mln and will be financed with existing sources of funds. Co expects to receive all environmental permits in 1Q16 and complete construction in the first half of 2017.

7:26 am RWE AG confirms plans for new subsidiary and and IPO of ~10%; renewables, grids and retail activities are being transferred into a new subsidiary and listed on the stock market (RWEOY) :

• RWE will transfer its renewables, grids and retail operations in Germany and abroad to a new subsidiary and list it on the stock market. In so doing, the company will create a platform for growth with its own access to the capital market. This will strengthen the viability of the Group as a whole.
• The new subsidiary will be listed on the stock market probably in late 2016.
• RWE intends to offer some 10% of the new company's share capital to the public in connection with a capital increase. At the same or later point in time additional stakes may be disposed. The proceeds will be used to finance further growth in markets with good future prospects. There will be no change to the asset base available to back liabilities.
• In relation to the nuclear phase out, the RWE Group will increase its financial flexibility to fund its provisions. RWE AG will remain the new company's majority shareholder over the long term and consolidate it fully. The parent company will focus on conventional power generation and energy trading.The transaction is still subject to RWE AG's Supervisory Board approval.
• The Executive Board of RWE AG has resolved on the pooling of the renewable energy, grids and retail business areas in Germany and abroad in a new subsidiary and the placement of approximately 10% of the new subsidiary by way of an initial public offering in connection with a capital increase which is expected to take place at the end of 2016. At the same or later point in time, additional stakes may be disposed. By transferring these business areas to the new subsidiary, RWE AG will create new financing and additional growth opportunities for the activities pooled in the subsidiary. The restructuring will not change the assets at RWE AG's disposal to meet its financial commitments. The whole transaction is subject to the approval of the Supervisory Board which is expected to decide in its meeting on 11 December 2015.

7:19 am Otonomy announces prelim results of Phase 2 clinical trial of OTIPRIO that demonstrate clinical feasibility of OTIPRIO for this label expansion indication. (OTIC) :

Co completed enrollment in a Phase 2 trial of OTIPRIO in patients with acute otitis externa and that preliminary results demonstrate clinical feasibility of OTIPRIO for this label expansion indication.

• The one-month, prospective, multicenter, open label Phase 2 clinical trial enrolled a total of 75 pediatric and adult patients with unilateral acute otitis externa. Patients were randomized to receive a single administration of OTIPRIO at one of three dose volumes: 0.1 mL, 0.2 mL and 0.4 mL.
• Results of this trial demonstrate the feasibility of administering OTIPRIO, a thermosensitive gel containing ciprofloxacin, into the external ear canal of awake patients by a physician in the office setting.
• In addition, preliminary results demonstrate that a single administration of OTIPRIO provided clinical cure at Day 15 in the majority of patients with a greater than 80% of clinical cure for patients treated with the 0.2 mL dose, which is the preferred dose for further development.
• The FDA has assigned a Prescription Drug User Fee Act action date of December 25, 2015 for co's NDA for OTIPRIO as a treatment of middle ear effusion in pediatric patients undergoing tympanostomy tube placement surgery.

7:07 am Myriad Genetics' Crescendo Bioscience subsidiary is issued a patent from the USPTO, covering its Vectra DA testing (MYGN) : Co announced that the United States Patent and Trademark Office has issued Patent No. 9,200,324. The patent, which is expected to expire in 2031, provides intellectual property protection for Crescendo Bioscience's Vectra DA testing.

7:03 am Sangamo BioSci announces FDA clearance of investigational new drug application for SB-FIX, first in vivo protein replacement platform program for treatment of hemophilia B; study scheduled to begin in 2016 (SGMO) :

• Sangamo remains on track to file an IND for MPS I (Hurler syndrome), the first of the Company's LSD programs employing its IVPRP approach, by the end of 2015, and an IND application for MPS II (Hunter syndrome) in the first half of 2016. The Company also expects to file three more IND applications in the second half of 2016 for hemophilia A, Gaucher disease, and one other LSD target.

7:03 am Henry Schein announces a $400 million increase to its share repurchase plan (HSIC) : The program is in addition to the $300 million repurchase program announced in December 2014, which as of today has $25 million remaining authorized for future repurchases.

7:02 am Horizon Pharma announces the USPTO issuance of an additional notice of allowance with claims covering PENNSAID 2% (HZNP) :

Co receives a Notice of Allowance from the United States Patent and Trademark Office for U.S. patent application number 14/804,720, entitled "Treatment of Pain with Topical Diclofenac" that covers Horizon's U.S. approved medicine PENNSAID 2% w/w.

• This Notice of Allowance concludes the examination of the patent application and will result in the issuance of a U.S. patent after administrative processes are completed.

7:01 am Jones Lang LaSalle acquires CIB and CIB Mgmt; expected to close by January 2016, financial terms not disclosed (JLL) : The co will significantly increase its size and scope of services in Greater Baltimore with the acquisition of CIB Management, the market's largest commercial property manager, and CIB, a provider of brokerage services. The firms have entered into an agreement for the acquisition that is expected to close by January 2016, subject to customary closing conditions.

7:01 am MVC Capital reports Q1 and Q2 results (MVC) :

• Co reported Q1 earned interest income of $4.3 mln vs $3.5 mln prior year; Q2 earned interest income of $4.8 mln vs $4.0 mln prior year.
• During the first two fiscal quarters of 2015, changes in the fair values of the portfolio companies resulted in a net decrease of $12.1 mln or $0.53 per share and a net decrease of $15.9 mlnor $0.70 per share respectively.

7:01 am Adaptimmune Therapeutics and Universal Cells Inc announce a collaboration and exclusive license agreement for the development of allogeneic T-cell therapies (ADAP) :

Under the terms of the agreement, Universal Cells will grant to Adaptimmune an exclusive, sub-licensable, worldwide license to use, sell, supply, manufacture, import, and develop products and services utilizing Universal Cells' technology within the T-cell immunotherapy field.

• Universal Cells will receive an upfront license and start-up fee of $5.5 mln, and will be eligible for up to $41 mln in milestone payments for certain development and product milestones.
• Universal Cells would also receive a profit-share payment for the first product, and royalties on sales of other products utilizing its technology.

7:00 am Heat Biologics names Timothy Creech as CFO (HTBX) : Creech served as Acting CFO of Salix Pharmaceutical

7:00 am Johnson Controls sees FY16 EPS in-line, with sales above consensus; gives mid term outlook; Automotive spin on track (JCI) :

Sees FY16 (Sept, ex-Auto business) EPS +8-14% to $3.70-3.90 vs $3.86 Capital IQ Consensus Estimate; sees rev +4% to ~$38.6 bln vs $37.42 bln Capital IQ Consensu; ~10% organic sales increases in both Building Efficiency and Power Solutions.

• Co sees Building Efficiency sales +37-39%, margins 8.1-8.3%; Power Solutions sales +17% with margins ~17%.
• Johnson Controls also provided mid-term revenue and margin guidance for its Building Efficiency and Power Solutions businesses.
  • Building Efficiency revenues over the mid-term are expected to increase ~4 to 6 percent reflecting increasing demand for Variable Refrigerant Flow (:VRF) products, growth in emerging markets and an expanded HVAC product line. Building Efficiency margins are expected to reach approximately 9.5 to 10.5 percent over the period, an average annual improvement of 30 to 50 basis points. The increased profitability is due to higher volumes, cost reduction initiatives and expected margin improvements of the Hitachi residential air conditioning business, partially offset by increased investments in product development and continued salesforce hiring.
  • Over the mid-term, Power Solutions revenues are forecast to increase ~7 to 8 percent annually due to growth in China, market share gains and an improved product mix. Average annual margin expansion of 40 to 50 basis points a year, to approximately 18.5 to 19.0 percent over the period, is expected due to the higher volumes and improved product mix offset by increasing ongoing investments in advanced battery technologies and additional manufacturing capacity expansion and launch costs in China.
• Automotive business spin-off update: The spin-off of its automotive business was progressing as planned, with a targeted date of Oct. 3, 2016 for day one for the Automotive Company.

6:59 am Synthetic Biologics announces positive topline results from its first Phase 2a Clinical Trial of SYN-004; SYN-004 degraded IV Ceftriaxone in the GI tract without affecting antibiotic levels (SYN) :

Co announced positive topline results from the first Phase 2a study of SYN-004, the Company's candidate designed to protect the gut microbiome from the unintended effects of certain commonly used intravenous beta-lactam antibiotics for the prevention C. difficile infection and antibiotic-associated diarrhea.

• Topline results from the ten ileostomized participants who completed the Phase 2a open-label study demonstrated that SYN-004 successfully degraded residual IV ceftriaxone in the chyme (digestive fluid in the small intestine) without affecting the intended level of ceftriaxone in the bloodstream.
• Evaluation of the chyme from the ileostomized participants indicates that both dosage strengths of SYN-004 (75 mg and 150 mg) degrade residual IV ceftriaxone present in the chyme, supporting the mechanism of action of SYN-004. In addition, both dosage strengths of SYN-004 appear to be well tolerated by the participants in the study.
• Co stated: "The second Phase 2a clinical trial for SYN-004 is currently ongoing to evaluate the GI antibiotic-degrading effects and the safety of SYN-004 in the presence of the proton pump inhibitor (:PPI), esomeprazole, in participants with functioning ileostomies. We anticipate reporting topline results from the second Phase 2a of SYN-004 during the first half of 2016."

6:57 am On The Wires (:WIRES) :

• Veolia (VEOEY), through its subsidiary Veolia Per, has won the operation and maintenance contract for the desalination plant at the Cerro Lindo mine owned by Milpo. This three-year contract covers water intake and the production of desalinated water by reverse osmosis. This contract confirms Veolia's expertise in assisting an industry faced with significant water stress.
• Vestas (VWDRY) announced it has received a firm and unconditional order in the USA, comprising 51 V100-2.0 MW turbines combined with 30 V117-3.3 MW turbines, totalling 201 MW.
• Eni (E) signed in Mexico City with the Comisin Nacional de Hidrocarburos of Mexico, a Production Sharing Contract for the development and exploitation of the Amoca, Miztn and Tecoalli oil fields, located in the Bay of Campeche offshore Mexico.
• Sonoco (SON) announced that SVP of Global Industrial Products and Protective Solutions John Colyer is relinquishing his operations duties to focus on treating a health issue. Rodger Fuller, group VP, is assuming responsibilities for the Industrial businesses in the Americas, and Howard Coker, group VP, is assuming responsibility for Sonoco's Industrial businesses for Rest of World.

6:56 am Macau Gaming Inspection and Coordination Bureau reports November gross gaming rev -32% YoY to lowest level since 2010 (WYNN) :

• Macau Gaming Inspection and Coordination Bureau reports November gross gaming rev -32.3% YoY at 16.4 bln patacas ($2.06 bln) vs. -28.4% in October and -19.6% in Nov 2014.
• Lowest level since Sept 2010.
• Macau gross gaming rev is now -35.3% YTD at 212.5 bln patacas ($26.6 bln).
• Casino stocks with exposure to Macau: WYNN, LVS, MGM, MPEL, IKGH, GXYEF, SJMHF.

6:55 am Bank of Montreal beats by CAD0.16, misses on revs; raises dividend 2.4%; intends to buyback 15 mln shares (BMO) :

• Reports Q4 (Oct) earnings of CAD1.90 per share, excluding non-recurring items, CAD0.16 better than the Capital IQ Consensus of CAD1.74; revenues rose 8.7% year/year to CAD4.72 bln vs the CAD4.81 bln Capital IQ Consensus. Adjusted net income was CAD1,264 million, up $153 million or 14% from the prior year with good income growth across all of our operating groups.
• Board raises dividend 2.4% QoQ to $0.84/share.
• Co announced its intention, subject to regulatory approval, to purchase, for cancellation, up to 15 million of its common shares under a normal course issuer bid through the facilities of the TSX. The common shares that may be repurchased represent ~2.3% of the 'public float'.
• "For the first time, our Personal and Commercial Banking and Wealth Management businesses in the U.S. generated adjusted earnings of more than $1 billion. With the acquisition of GE Capital Transportation Finance which closed today, we continue to strengthen our large, well-established North American commercial banking customer base.

6:52 am Corning announces it will invest in a Gen 10.5 LCD glass substrate facility in Hefei (GLW) :

The firm announced that with the support of the Hefei government, Corning will locate a Gen 10.5 glass manufacturing facility adjacent to the BOE Technology Group Co. plant in the Hefei XinZhan General Pilot Zone in Anhui Province, China. Glass substrate production from the new facility is expected to support BOE's plan to begin mass production of LCD panels for large-size televisions by the third quarter of 2018.

• The total investment for the facility is $1.3 billion. Corning's investment will be composed primarily of equipment and precious metals. Corning's net outlay of $460 million, which is net of government and commercial incentives, is expected to be $290 million in cash and $170 million of currently owned precious metals. 
• As part of this investment, Corning and BOE have entered into a long-term supply agreement that commits BOE to the purchase of Gen 10.5 glass substrates from the Corning manufacturing facility in Hefei.

6:51 am Reliance Steel acquires Tubular Steel, Inc.; terms not disclosed (RS) :

Tubular Steel, Inc. is a distributor and processor of carbon, alloy and stainless steel pipe, tubing and bar products.

• For the year ended December 31, 2014, TSI's net sales were ~$200 mln.
• The transaction is expected to close in early 2016.

6:50 am Rayonier Adv. Materials and Eastman Chemical Company (EMN) settle their legal dispute and enter into a new cellulose specialties purchase and sale agreement extending through 2019 (RYAM) :  

6:46 am ClubCorp announces that its ClubCorp Club Operations subsidary will commence a $400 mln offering of senior notes due 2023 (MYCC) : Operations intends to use the net proceeds from such offering for general corporate purposes, including to repay indebtedness under Operations' existing secured credit facilities and for acquisitions.

6:46 am Giga-tronics enters into a software licensing arrangement with Lockheed Martin (LMT) (GIGA) :

Co enters into a software licensing arrangement with Lockheed Martin (LMT) to develop and license threat simulation software as a commercial product that brings advanced threat environment simulation capability to its new Advanced Signal Generator Hardware Platform.

• Co expects to be shipping the Advanced Signal Generator with the new software package within 6 months.
• The Software and Hardware will be sold together as a Real-Time Threat Emulation System, for distribution to US customers only.

6:36 am Fifth Street Finance reports Q4 Net investment income per share of $0.18 vs $0.20 Capital IQ Consensus Estimate; Net asset value per share was $9.00 as of September 30, 2015 (FSC) :  

6:32 am New Senior Investment authorizes a share repurchase of up to $100 mln in common stock, to take place over the next 12 months (SNR) :  

6:32 am McCormick appoints Lawrence Kurzius as President and CEO, effective February 1, 2016 (MKC) : Alan Wilson will continue to serve as Executive Chairman of the Board. Kurzius was elected to the company's board of directors on November 24, 2015. Kurzius has been a leader for McCormick for the past 12 years and has served as a member of the Management Committee since 2007. Prior to joining McCormick, he was the CEO for Zatarain's where he worked for over 12 years until the company was purchased by McCormick

6:31 am General Steel receives a notice from the NYSE, for noncompliance with regard to failing to timely file its form 10Q for the Sept. ending quarter (GSI) : Co receives a notice from the NYSE as a result of its failure to timely file its 10-Q for the quarter ended September 30, 2015. Co expects to file the Form 10-Q as soon as possible in the coming weeks and before the deadline set by the NYSE.

6:31 am Science Applications receives a $156 mln contract, to provide full life cycle IT services to the USDA Risk Mgmt agency (SAIC) : The single-award task order has a one-year period of performance, four one-year options, and a total contract value of $156 million if all options are exercised. Work will be performed in Kansas City, Missouri.

6:11 am On The Wires (:WIRES) :

• Synaptics (SYNA) announced a new agreement with Nok Nok Labsto enable OEMs with real-world test and development environments that combineFIDO Certified Synaptics and Nok Nok Labs solutions.
• Eco-Stim Energy Solutions (ESES) announced that during thelast week of November, the Company received delivery of three pump units thatwere manufactured by QM Equipment S.A., an Argentinian-based oil and gasequipment supplier. Each pump has a 2,500 BHP Caterpillar engine and a 2,500HHP SPM quintuplex pump and Stewart & Stevenson control systems.
• ImmunoCellular Therapeutics (IMUC) announced theestablishment of an agreement with the European Organisation for Research andTreatment of Cancer for the phase 3 registrational trial of ICT-107 in patientswith newly diagnosed glioblastoma. The EORTC contributed to the trial designand will assist ImmunoCellular Therapeutics in facilitating accrual of patientsfor this trial in Europe.
• Gowan Company announced that it has entered into adefinitive agreement to acquire the entire global dinitroaniline herbicideportfolio from Dow AgroSciences LLC, a wholly owned subsidiary of The DowChemical Company (DOW). The acquisition includes global product registrations,trademarks, including Treflan, Edge, Team, Bonalan and Sonalan, intellectualproperty and labels for herbicides based on the molecules trifluralin,benfluralin and ethalfluralin. Terms were not disclosed

6:09 am Scotiabank beats by CAD0.02 (BNS) :

• Reports Q4 (Oct) earnings of CAD1.46 per share, CAD0.02 better than the Capital IQ Consensus of CAD1.44; rev +6% to CAD6.2 bln vs. CAD6.26 bln consensus.
• The net interest margin declined by 1% or 7 basis points to 4.70% driven primarily by margin compression in Mexico and Peru.
• ROE of 14.2%, compared to 11.9%
• Common Equity Tier 1 capital ratio (QoQ) 10.3% vs 10.4%
  • Tier 1 capital ratio (QoQ) 11.5% vs 11.6%
  • Total capital ratio QoQ) 13.4% vs 13.5%
  • Leverage ratio (QoQ) 4.2% vs 4.1%

6:09 am Nordic American Tanker's CEO sends a letter to shareholders, conveying thoughts about the company and its industry (NAT) :

Letter highlighted statements included:

• "As we approach the end of a good year for Nordic American, I would like to share with you some thoughts about our company and our industry. Nordic American is in excellent shape. OPEC's decision in the autumn of 2014 to raise oil production has helped our industry. Wrongly, some investors seem to consider NAT as part of the energy sector. We believe oil demand is developing in a way that will continue to boost demand for transportation.
• As things appear, fleet growth and transportation demand growth in 2016 look well balanced, setting the tone for a healthy tanker market. We expect that the fourth quarter 2015 will be good as we approach a strong winter market. As a shareholder you can expect this market strength to enable NAT to continue to pay healthy dividends. The excellent quality of our fleet is encouraging, showing our keen willingness to comply with the strict requirements of the major oil companies when it comes to safety for crew, the environment and assets.
• We took over two 2010 built suezmaxes in September and October this year and Nordic American has two newbuildings joining the fleet in 2016 and 2017

6:03 am Spherix updates on its current and prospective patent monetization and licensing initiatives (SPEX) :

Spherix says it no longer has a $5 million payment due on its "Series I" stock. The canceled payment had been previously due from the Company on or before December 31, 2015, and related to the redemption of its outstanding Series I Redeemable Convertible Preferred Stock. In addition, Spherix has further secured the cancellation of 13% of the Company's outstanding Series H Convertible Preferred Stock.

• In addition, management is focused on the significant opportunity moving forward on its remaining 200+ patents. The total addressable market of the remaining opportunity exceeds $50-plus billion and the Company will seek to recover a fair and reasonable licensing rate from the remaining total addressable market.

6:03 am Kraton Performance Polymers commences a tender offer for $350 mln of its 6.75% Senior Notes due 2019 (KRA) : The Company expects to fund the tender offer and consent solicitation with the proceeds of a debt financing together with available cash on hand.

6:01 am Canadian Oil Sands announces its 2016 budget (COSWF) :

Based on the 2016 Budget, COS expects to generate $338 million of free cash flow, and every USD $10 per barrel increase in the annual oil price raises our estimated free cash flow by about $300 million. Even under a USD $45 per barrel WTI oil price assumption, COS can fully fund all costs, including capital expenditures and the current dividend.

• The production estimate range for COS is 35 million to 40 million barrels (95 million to 110 million barrels gross to Syncrude). COS' budget assumes production of 38.6 million barrels (105 million barrels gross to Syncrude), approximately 10 per cent higher than 2015 estimated production.
• Capital expenditures are estimated at $295 million, or $7.64 per barrel based on production of 38.6 million barrels.

6:01 am Verisk Analytics announces approval for an additional $300 million share repurchase authorization (VRSK) :  

5:44 am S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +14.00. :

5:44 am European Markets : FTSE...6380...+23.90...+0.40%.  DAX...11347.12...-35.10...-0.30%.

5:44 am Asian Markets : Nikkei...20012.40...+264.90...+1.30%.  Hang Seng...22381.35...+384.90...+1.80%.

5:31 am Citizens increases quarterly dividend to $0.24/share from $0.23/share (CIZN) :  

5:14 am On The Wires (:WIRES) :

• Worthington Industries (WOR) announced that its Alternative Fuels business has signed a multi-year contract with Teijin Engineering to supply Type 3, composite hydrogen cylinders to a major Japanese automotive OEM, to be used on a new hydrogen fuel cell vehicle.
• Appliance Recycling Centers of America (ARCI) announced the United States District Court for the Central District of California entered an order on November 24, 2015, granting the motion of Appliance Recycling Centers of America, to dismiss the lawsuit commenced against the Company and certain current and former officers of the Company
• CBOE Holdings (CBOE) announced the company's planned launch of options on the FTSE 100 Index and the FTSE China 50 Index. Options on the two FTSE Russell indexes are expected to begin trading at CBOE on December 22, 2015
• Ford Motor Company (F) will create 2,000 new jobs and invest $1.3 billion in its Kentucky Truck Plant to support the launch of the all-new 2017 Ford F-Series Super Duty truck
• DayNine Consulting, a global Workday (WDAY) services partner, announced that it has opened an office in Germany to expand its European presence and better serve its growing global customer base for Workday, a leader in enterprise cloud applications for finance and human resources. Based in Karlsruhe, the office is part of a new legal entity established by the company -- DayNine Consulting GmbH.
• Nokia (NOK) announced the commercial availability of the OZO virtual reality camera at a launch event attended by members of the media and entertainment industry. Shipping is expected to begin in Q1 2016.
• Starwood Hotels & Resorts Worldwide (HOT) announced an expanded partnership with Design Hotels AG, which consumers will see as an 11th Starwood brand.
• Hewlett Packard Enterprise (HPE) announced HPE Synergy, the first platform designed to run both traditional and cloud native applications for organizations seeking the benefits of running a hybrid infrastructure.
• Jive Software (JIVE) announced that Conecteo, a customer relationship management software vendor in France, selected the Jive-x external community solution to help drive new revenue by deepening customer and partner relationships.
• Progress (PRGS) announced the latest release of Telerik Platform, the industry-leading mobile app development platform for iOS, Android and Windows Phone applications. With Telerik Platform 2.0, Progress enables developers to create ideal mobile user experiences with high productivity in a fraction of the time.
  

5:12 am Zurich Insurance Group CEO Martin Senn steps down, effective at year-end (ZURVY) : Tom de Swaan, who has been a member of the Board of Directors since 2006and was named its Chairman in 2013, has been appointed CEO ad interim withimmediate effect. The process to appoint Martin Senn's successor is underway.

5:10 am Statoil ASA divests its interest in Trans Adriatic Pipeline for EUR 208 mln (STO) : Following the divestment of its share in the Shah Deniz gas field in Azerbaijan, Statoil has agreed to sell its 20% interest in Trans Adriatic Pipeline AG to the Italian gas infrastructure company Snam SpA for a total consideration of EUR 208 million. This amount is for both Statoil's shares in TAP and its pro-quota portion of the loans currently granted to TAP by its shareholders.

5:06 am Roche Hldg enters worldwide agreement with Upsher-Smith Laboratories for the further development of a novel, oral small molecule inhibitor of Vascular Adhesion Protein 1 (RHHBY) : Under the terms of the agreement, Roche is granted a worldwide exclusive license to develop and commercialize the compound. In a novel collaboration model, Proximagen and Roche will conduct additional Phase II studies to further define the therapeutic potential of the VAP-1 inhibitor. Based on these data, Roche will assume responsibility for late stage development and worldwide commercialization. Proximagen will receive an upfront payment, along with downstream development, regulatory and sales milestones. In addition, Proximagen will also receive tiered royalties on net sales of a potential future product containing the molecule.

5:04 am Goodrich Petroleum announces that the NYSE has accepted its plan for continued listing (GDP) : With the acceptance of the plan, the Company has 18 months from the original notification date in which to regain compliance with the market capitalization or stockholder's equity listing standard. The Company has six months from the original notification date in which to regain compliance with the $1.00 stock price listing standard.

5:03 am Allot Comms receives court approval to repurchase up to $15 mln of its ordinary shares (ALLT) :  

4:09 am Wal-Mart issues statement on its observations on Cyber Monday; mobile traffic up 70% YoY (WMT) :

Co issued a statement regarding trends co saw on Cyber Monday.

• "Mobile firmly established itself as the dominant shopping trend, for both traffic and sales. Mobile is making up more than 70 percent of traffic to Walmart.com, and now, nearly half of our orders since Thanksgiving have been placed on a mobile device -- that's double compared to last year. Our customers went from previously mostly searching and browsing on mobile, to making purchases at a much higher rate...Star Wars toys, 4K HDTVs 50-55", drones, Xbox One and PS4 video game bundles, iPad Minis and 14-ft. trampolines were among the categories that gained the biggest boost in popularity, and we bought deep in these items to serve customers looking to wrap up those gifts. 2,000 of these and other Cyber Week deals are available on Walmart.com each day through Friday, Dec. 4th."
  
  

3:53 am Solvay issues $1.6 bln of senior bonds intended to finance acquisition of Cytec (CYT) (SVYZY) :

The bonds comprise of:

• A first series of bonds with a principal amount of $800 mln, due 2020, with a coupon of 3.40%
• A second series of bonds with a principal amount of $800 mln, due 2025, with a coupon of 4.45%, payable semi-annually

3:32 am Celyad announces the infusion of the first patient of the second cohort of its Phase I clinical trial (CYAD) : The Phase I/IIa trial is designed to assess the safety and feasibility of NKG2D CAR T-Cells, with secondary endpoints including clinical activity. Data readouts from the first 12 patients treated in the Phase I portion are expected in mid-2016. Once the recommended dose is determined, the IIa phase of the trial will commence, with 12 additional patients treated at the recommended dose.

3:29 am Amaya files an early warning report related to its direct and indirect holdings in NYX Gaming Group (AYA) :

Amaya currently has beneficial ownership of 163,170 ordinary shares of NYX, a principal amount of $9 million convertible debentures of NYX bearing interest at 6% per annum subscribed for by Amaya on November 17, 2014 and convertible at any time into 2,808,454 Ordinary Shares, with the accrued interest also being payable in Ordinary Shares, and 40,000 preferred shares in NYX Digital Gaming, a subsidiary of NYX, representing 100% of the outstanding Preferred Shares.

• The terms of the Preferred Shares provide that the Preferred Shares are initially exchangeable into 8,000,000 Ordinary Shares

3:25 am Breitburn Energy suspends distribution on its common units (BBEP) :

Co announced that it has elected to suspend the distribution on its Common Units, effective immediately.

• In light of the ongoing weakness in commodity prices, and crude oil prices in particular, co has decided to suspend cash distributions on its Common Units.

3:18 am Pioneer Natural Resources prices $500 mln of 3.45% Senior Notes due 2021 and $500 mln of 4.45% Senior Notes due 2026 (PXD) :  

3:13 am Broadwind Energy CEO to step down to pursue other opportunities; Co's CFO appointed as Interim CEO (BWEN) :

Co announced the departure of President and Chief Executive Officer Peter Duprey, who is leaving to pursue other opportunities. Stephanie Kushner, Broadwind's Chief Financial Officer, will assume the role of Interim Chief Executive Officer while the Company's Board of Directors conducts a search for a permanent replacement.

• The change is effective immediately.
  

3:09 am Kinross Gold's reports its Paracatu mine returns to full production (KGC) :

Co announces its Paracatu operation in Brazil has returned to normal production levels following a partial production curtailment on November 5th, 2015 due to lack of sufficient rainfall.

• The temporary curtailment of Plant 1 and Plant 2 is expected to impact production by a minimum of 16,000 gold ounces and a maximum of 34,000 gold ounces in Q4 2015, depending on the amount of rainfall received in December.
• The impact range contemplates the possibility of another curtailment should the site receive less than one-third of the average rainfall for the month of December.
• Given December is typically the wettest month of the year, the Company forecasts this to be a low probability. As noted in the Q3 2015 results, the Company expects to be within its production guidance for the year of 2.5 - 2.6 million Au eq. oz.

3:08 am FLIR Systems acquires software and hardware technologies for advanced video surveillance co DVTEL for ~$92 mln (FLIR) :

FLIR Systems announced today that it has acquired DVTEL, a software and hardware technologies for advanced video surveillance co, for ~$92 million in cash.

• FLIR anticipates this transaction will be neutral to 2015 net earnings and accretive thereafter.
  

2:59 am Express Scripts to partner with Imprimis Pharmaceuticals (IMMY) to drive access to a low-cost alternative to Daraprim (ESRX) :

Express Scripts (ESRX) announced it will partner with Imprimis Pharmaceuticals (IMMY) to drive access to a low-cost alternative to Daraprim, a drug for the treatment of toxoplasmosis that has been recently priced out of reach for people with HIV, pregnant women and others with weakened immune systems.

• Imprimis is offering a compounded oral formulation of pyrimethamine and leucovorin (a form of folic acid) for $1 per capsule for people whose pharmacy benefit is managed by Express Scripts. While the 62-year-old Daraprim was priced $13.50 per pill earlier this year, its owner, Turing Pharmaceuticals, made the decision in September to increase the price to $750 per pill.
  

2:35 am On The Wires (:WIRES) :

• CalAtlantic Homes (CAA) announced the debut of a new model home in Shiloh Pointe, a gated community in the prestigious southeast corner of Forsyth County.
• The wind storm that hit eastern Washington and northern Idaho on November 17 was the worst storm in Avista Corp's (AVA) 126-year history. After almost 10 days of around-the-clock work, power was fully restored to about 180,000 customers -- about 48% of Avista Corp's total retail electric customers -- by early Friday, November 27.