McEwen Mining

Published : June 23rd, 2015

9:34 am McEwen Mining announces that production at the El Gallo Mine has exceeded guidance for the second quarter

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9:34 am McEwen Mining announces that production at the El Gallo Mine has exceeded guidance for the second quarter

3:30 pm Earnings Calendar (:SUMRX) : Today after the close no companies are scheduled to report earnings.Tomorrow before the open look for the following companies to report:

  • MON, LEN

3:25 pm Treasury Market Summary (BONDX) : Treasuries Drop (but Recover) on Strong New Home Sales

  • U.S. government notes and bonds edged lower today after a renewed global appetite for risk and stronger U.S. data left the Tplex without much buying interest. The losses were broadly shared across the curve
  • Yield Check:
    • 2-yr: +2 bps to 0.69%
    • 5-yr: +2 bps to 1.69%
    • 10-yr: +3 bps to 2.40%
    • 30-yr: +3 bps to 3.20%
  • News:
    • Greece has submitted a proposal to its official creditors (the IMF, European Commission, and ECB) that appears to make enough concessions to obtain more financing
      • The proposal raises VAT on many goods and services
      • It raises pension contributions
      • It increases business taxes
    • Durable Goods Orders fell 1.8% in May after declining a downwardly revised 1.5% (from -1.0%) in April. The Briefing.com consensus expected -0.5% 
      • The entire decline could be attributed to a big fall in aircraft orders
    • Excluding transportation, Durable Goods Orders increased 0.5% in May after a 0.3% decline in April (revised from -0.2%). The consensus expected +0.6%
    • Fed governor Jerome Powell (FOMC voter and monetary policy moderate) said that conditions for a rate hike may be in place by September
      • He also said that the strong dollar is a drag on the U.S. economy and that he was not concerned about equity valuations
    • The FHFA Housing Price Index climbed 0.3% in April, the same gain as was seen in March
    • New Home Sales rose 2.2% in May to 546,000 from an upwardly revised 534,000 (from 517,000) in April. The Briefing.com consensus called for 525,000 sales 
      • This was the highest number of new homes sold since February 2008
      • Nearly the entire increase in sales came from an 87.5% increase in sales in the Northeast
    • The $26 billion 2-year Treasury note auction was met with solid demand and stopped through by less than 1 basis point
      • High yield: 0.692%
      • Bid-to-cover: 3.28
      • Indirect bid: 38.5%
      • Direct bid: 10.15%
  • Commodities:
    • WTI crude: +1.28% to $61.15/bbl.
    • Gold: -0.67% to $1,176.20/troy oz.
    • Copper: +1.77% to $2.6125/lb.
  • Currencies:
    • EUR/USD: -1.55% to $1.1171
    • USD/JPY: _0.45% to 123.95
  • Data out Wednesday:
    • MBA Mortgage Index for the week ending 6/20 (07:00 ET)
    • Q1 GDP -- Third Estimate and Q1 GDP Deflator -- Third Estimate (08:30 ET)
    • Crude Inventories for the week ending 6/20 (10:30 ET)
  • New Issuance:
    • $35 billion 5-year note auction (13:00 ET) 

3:02 pm Quidel receives US FDA 510(k) clearance to market its instrumented molecular system, Solana, for the detection of -hemolytic, group A streptococcus (QDEL) :  

2:43 pm Major averages edge to new afternoon bounce highs -- Dow +31, S&P +1.9, Nasdaq Comp +3.3 (:TECHX) :  

2:31 pm Alnylam Pharma announces positive data from its ongoing Phase 1 clinical trial of ALN-AT3 (ALNY) :

  • Study results from 12 hemophilia A and B subjects demonstrated that subcutaneous administration of ALN-AT3 achieved potent and dose-dependent knockdown of AT of up to 86%. AT knockdown was highly durable, with effects lasting over two months after the last dose, supporting further evaluation of a once-monthly subcutaneous dose regimen.
  • In addition, AT knockdown was associated with statistically significant increases in thrombin generation with a mean increase of up to 350% and marked improvements in whole blood clotting; these results demonstrate a re-balancing of hemostasis in severe hemophilia subjects. 
  • In an exploratory post-hoc analysis, a reduced frequency of bleeding was observed at higher AT knockdown levels including a maximum bleed-free interval of 114 days. Importantly, ALN-AT3 was found to be generally well tolerated, including no clinically significant increases in D-dimer, a biomarker of pathologic clot formation. 
  • Based on these data, the company expects to accelerate the advancement of ALN-AT3 with pivotal studies planned to begin in mid-2016.

2:27 pm Currency Market Summary (BONDX) : Dollar Extends Gains After New Home Sales Beat

  • The US Dollar Index gained 1.18% today to 95.45 after traders who had bought euros in anticipation of a post-Greek accord rally were disappointed and unwound their positions. During the U.S. session, New Home Sales for May sailed past estimates and this added to the dollar's gains
  • EUR/USD: -1.63% to $1.1163
    • The Greek sovereign 10-year note yield fell 54 basis points to 10.36% as hope for a deal between Greece and its official creditors mounted
    • The eurozone's Markit Composite PMI beat expectations, rising to 54.1 in June from 53.6 in May
      • Both Germany and France beat expectations in the service and manufacturing sectors, demonstrating some resilience in the face of uncertainty surrounding Greece
  • GBP/USD: -0.73% to $1.5714
    • In the U.K., CBI Industrial Trends Orders fell to -7 in June from -5 in May, falling short of expectations for a positive reading
  • USD/JPY: +0.38% to 123.87
    • Japan's Manufacturing PMI missed expectations and fell to 49.9 in June from 50.9 in April
  • USD/CHF: +1.41% to 0.9342
  • USD/CAD: +0.24% to 1.2344
  • AUD/USD: -0.03% to $0.7724
  • NZD/USD: -0.39% to 0.6843

2:19 pm GlycoMimetics to receive $20 million payment from Pfizer (PFE) following initiation of Phase 3 trial with Rivipansel (GLYC) : Co announced that Pfizer (PFE) has dosed the first patient in the RESET (Rivipansel: Evaluating Safety, Efficacy and Time to Discharge) study -- a Phase 3 clinical trial assessing the efficacy and safety of rivipansel for the treatment of vaso-occlusive crisis in patients hospitalized with sickle cell disease who are six years of age or older.

  • The start of this trial triggered the second of two milestone payments from Pfizer to GlycoMimetics totaling $35 million for Phase 3 initiation. GlycoMimetics received a $15 million milestone payment from Pfizer in May 2014. 
  • Rivipansel has previously received both Orphan Drug and Fast Track status for the treatment of VOC from the FDA, and Orphan Product status in the European Union.
See 14:01 for related PFE comment

2:01 pm Pfizer enrolls the first patient in its RESET Phase 3 trial of Rivipansel, to treat vaso-occlusive crisis in individuals with sickle cell disease (PFE) :  

1:57 pm Winthrop Realty Trust issues a redemption notice for all of its ~$72.6 mln in 7.75% Senior Notes due 2022 (FUR) :  

1:51 pm Swift Energy initiates a new first-lien term loan, with an expected principal balance of $640 mln and five year maturity (SFY) : It is expected that proceeds of the Proposed Term Loan will be used to repay all outstanding borrowings under the Company's existing revolving credit facility ($263 million outstanding at May 31, 2015) and for general corporate purposes, including capital expenditures.

1:13 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume). 

Large Cap Gainers

  • T (36.14 +3.14%): Upgraded to Buy from Neutral at UBS; also upgraded to Overweight from Equal Weight at Barclays.
  • CTXS (72.54 +2.1%): Continued strength from yesterday's speculation the company may be an LBO target following Elliott Management's disclosed stake earlier this month.
  • PRGO (187.5 +1.42%): Initiated with an Outperform at BMO Capital; $246 tgt.
Large Cap Losers
  • NVDA (21.15 -2.87%): Continued weakness from yesterday's reports that U.S. International Trade Commission will recommend Samsung (SSNLF) and Qualcomm (QCOM) will be cleared in the patent infringement case against Nvidia.
  • PM (81.26 -1.06%): Utilities and rate sensitive names underperforming (PPL, AEP, DUK, NI, XEL also lower).
  • WDC (89.43 -2.37%): Downgraded to Neutral from Overweight at JP Morgan; tgt lowered to $92 from $105.
Mid Cap Gainers
  • MOMO (17.26 +10.01%): Announced receipt of a 'going private' offer from group including Co-Founder, Chairman and CEO for $18.90/share.
  • RDUS (65.72 +4.23%): Extending recent strength following a favorable mention on Monday's Mad Monday.
  • FIVE (41.28 +3.51%): Initiated with a Outperform at RBC Capital Mkts; tgt $48.
Mid Cap Losers
  • CHH (54.13 -4.09%): Downgraded to Sell from Neutral at UBS.
  • BBRY (8.85 -3.86%): Missed Q1 consensus EPS estimates by $0.01, missed on revs (-32% y/y); reaffirmed guidance; PT lowered to $8.50 at MKM Partners.
  • GRPN (5.3 -2.57%): Initiated with a Hold at Topeka Capital Markets.

1:05 pm Auction up (BONDX) : Auction Results

  • The $26 bln 2-year note auction was met with good demand. The auction stopped through less than 1 bp
  • Results:
    • High yield: 0.692%
    • Bid-to-cover: 3.28
    • Indirect bid: 52.61%
    • Direct bid: 10.15%
  • Prior 12-auction average results:
    • High yield: 0.564%
    • Bid-to-cover: 3.41
    • Indirect bid: 38.5%
    • Direct bid: 15.4%

1:02 pm Lakes Entertainment announces that shareholders voted to approve the merger with Sartini Group (LACO) : On June 18, 2015 the State of Maryland granted licensing approvals related to the operation of Lakes' Rocky Gap Casino Resort to Golden Gaming associated with the proposed Merger. The State of Nevada is expected to complete its review of Lakes for licensing related to the proposed Merger during July. These licensing approvals are required to be completed prior to the closing of the Merger.

12:56 pm Midday Market Summary: Little Changed at Midday (:WRAPX) : The stock market holds a slim midday loss with the S&P 500 (-0.1%) trading just ahead of the Nasdaq Composite (-0.2%).

Equity indices held modest gains at the start of the session amid strength in Europe where hopes remain high that Greece will be able to secure a debt deal with its creditors. In addition, better than expected PMI readings also contributed to the overseas strength.

However, the upbeat open has been followed by a retreat into the red with six sectors showing midday losses. Notably, the top-weighted technology sector is lower by 0.2% while high-beta chipmakers display larger losses, evidenced by a 0.8% decline in the PHLX Semiconductor Index.

Elsewhere among cyclical sectors, industrials (-0.2%) and materials (-0.3%) underperform while consumer discretionary (+0.2%), energy (+0.1%), and financials (+0.2%) outperform.

The discretionary sector has been boosted by homebuilders after the New Home Sales report for May beat estimates (546K; Briefing.com consensus 525K). The iShares Dow Jones US Home Construction ETF (ITB 27.69, +0.04) trades higher by 0.1%.

Meanwhile, the financial sector has likely benefitted from increased rate hike expectations after Federal Reserve Governor Jerome Powell said that two rate hikes could take place before the end of the year if the economy doesn't suffer an unexpected slump. Treasuries retreated immediately following the remarks, but they have reclaimed the bulk of their losses with the 10-yr yield remaining higher by a basis point at 2.39% after hitting a session high near 2.42%. Furthermore, the Dollar Index (95.38, +1.05) hit a new session high shortly after Mr. Powell's comments crossed the wires.

Economic data included Durable Orders, FHFA Housing Price Index, and New Home Sales:

  • Durable goods orders declined 1.8% in May after declining a downwardly revised 1.5% (from -1.0%) in April while the Briefing.com consensus expected a decline of 0.5% 
    • As expected, the entire decline can be traced to another big pullback in aircraft orders as Boeing (BA 144.11, -1.59) reported a big drop in sales in May, which translated into a 28.9% decline in defense and nondefense aircraft orders 
    • Motor vehicle orders were flat after increasing 0.4% in April 
    • Excluding transportation, durable goods orders increased 0.5% in May after a 0.3% decline in April (revised from -0.2%) while the consensus expected an increase of 0.6% 
  • The FHFA Housing Price Index for April rose 0.3%, which followed an unrevised increase of 0.3% in March 
  • New home sales hit their highest level since February 2008, increasing 2.2% in May to 546,000 from an upwardly revised 534,000 (from 517,000) in April while the Briefing.com consensus expected a reading of 525,000 
    • Regionally, there was a big disparity in demand trends with nearly the entire increase coming from an 87.5% spike in sales in the Northeast. Sales in the Midwest (-5.7%) and South (-4.3%) declined on a month-to-month basis. Sales in the West increased 13.1% to 138,000, but remain below January levels

12:34 pm Brocade hovering slightly under its session/May high (BRCD) : The stock probed its three month high from May at 12.74 in early trade (session high 12.74) and paused. The next levels of interest above are at 12.85 (multi-year close high from Feb) and 12.98 (Feb/multi-year intraday high).

12:33 pm FedEx slides to new session low, probe support zone (FDX) : Gradual slide in midday leaves FDX back at support at its 50 day sma and last week's low at 174.75/174.51 (session low 174.66).

12:10 pm Relative sector weakness (:TECHX) : Sectors that have underperformed the S&P during the recent slip include: Semi SMH, Networking IGN, Transports IYT, Rail, Material XLB, Silver SLV.

12:09 pm Darden Restaurants announces a consent solicitation for its 6.00% Senior Notes due 2035 and 6.80% Senior Notes due 2037 (DRI) : Co is undertaking the Solicitation to provide it with the flexibility to enter into certain sale and leaseback transactions as part of its recently announced real estate strategy.

  • The proposed amendments would amend the Sale and Leaseback Basket by replacing it with a fixed maximum amount of $700 million and removing the variable basket component of 10% of Consolidated Capitalization of the Company. 
  • The proposed amendments mean that the "basket" for Sale and Leaseback Transactions would be increased to an Attributable Value of $700 million, which represents an increase of ~$220 million. 
  • Co has $150 mln in 6.00% Senior Notes due 2035 and $300 mln in 6.80% Senior Notes due 2037

12:05 pm Dow +1 and S&P -1.6 slip slightly under morning lows -- Nasdaq Comp -7 (:TECHX) :  

11:59 am New Supply (BONDX) : Treasury Auction Preview

  • $26 bln 2-year note auction (results at 13:00 ET)
  • Of the past 10 auctions, 8 have stopped through and 2 have tailed
    • Prior auction results:
      • High yield: 0.648%
      • Bid-to-cover: 3.40
      • Indirect bid: 42.2%
      • Direct bid: 17.2%
    • Prior 12-auction average results:
      • High yield: 0.564%
      • Bid-to-cover: 3.41
      • Indirect bid: 38.5%
      • Direct bid: 15.4%

11:54 am Net Element provides business update following the recent rapital infusion, says share price doesn't fairly represent its potential (NETE) : The Company's primary goal in the second half of 2015 is to integrate PayOnline's value-added technologies with its US offerings and to execute on its objective to become a premier payments-as-a-service company with a centralized, omni-channel, global platform. In its US payments business (2014 revenues of $21 million), the co states its already seen results from the launch of certain US marketing initiatives announced in May, with over $2 million in sales partner financings and recent renewals of key sales partnerships. Growth of its Russia mobile payments continues with a target of 100% annual growth of Russian mobile subscribers. Net Element says it crossed the threshold of 1 million recurring subscribers in January while ending May with over 1.3 million subscribers. In addition, over $25 million in debt has been eliminated in the past 2 years and with the addition of May's $10.5 million in growth capital, the company is able to continue its strategic plans of business expansion and improved profitability.

  • Commenting on its share price, the co stated that "It is our belief that the current share price does not fairly represent the potential of our business and as this potential is realized through the achievement of coming milestones, it is our hope that the share price will reflect this and that we will regain compliance with NASDAQ listing requirements."
  • The co had separately disclosed that it received a notice of non compliance from NASDAQ that for the last 30 consecutive business days, the bid price for its common stock had closed below the minimum $1.00 per share requirement for continued inclusion on The NASDAQ Capital Market. In accordance with Nasdaq Listing Rules, the Company has been provided an initial period of 180 calendar days, or until December 16, 2015, to regain compliance with the Rule.

11:52 am European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

  • UK's FTSE:+0.1%
  • Germany's DAX:+0.7%
  • France's CAC:+1.2%
  • Spain's IBEX:+0.3%
  • Portugal's PSI:+3.1%
  • Italy's MIB Index:+0.4%
  • Irish Ovrl Index:+0.9%
  • Greece ASE General Index: +6.1%

11:33 am Dow +6 set new session low but held at flat line, S&P -0.8, Nasdaq Comp -4.9 and A/D Line did not confirm the Dow low (:TECHX) :  

11:31 am Twitter runs to new session high of 35.83 in recent trade (TWTR) : Stock popped higher intraday after comments from co. president (11:22) with it climbing as high as 35.83. Of short term technical interest are yesterday's peak (36.00) and its 20 day ema (36.14), which capped the upside early and mid-month, followed by last week's recovery high at 36.28.

11:00 am Booz Allen Hamilton selected as a prime contractor for the $7.9 bln Network-Centric Solutions-2 Network Operations and Infrastructure Solutions Indefinite Delivery/Indefinite Quantity contract by the U.S. Air Force (BAH) :  

10:52 am Currency Commentary: DXY Rally Fades, Moving Averages Provide Resistance (:SUMRX) :

  • The Dollar Index was able to rally to 95.63 its best level since June 12 before seeing the move faded. The fade came right when the index was testing its 20 sma (95.43) and its 50 sma (95.65). The push higher came following comments from Fed Governor Powell, generally considered a dove by market participants, who said that he saw the potential for a rate hike as early as September. This is in line with market expectations and further established the September meeting as a target for a potential rate hike. Economic data this morning would have given some pause though as Durable Orders, and the Markit preliminary look at June Manufacturing missed expectations. Housing data continued to impress though with New Home Sales outpacing expectations while FHFA Housing Prices saw another 0.3% increase on a month over month basis. 
  • The euro is down 1.3% today as the single currency failed to hold the 1.14 level. The market euphoria surrounding a Greek deal has pulled back a little after the IMF's Christine LaGarde said that the Greek plan submitted yesterday still needs work. It is difficult to say if this was the primary reason for the pullback though as activity in the euro has not necessarily trended the sentiment surrounding a Greek bailout deal. Manufacturing and Services data from the region was encouraging with France providing a notable beat against expectations. 
  • The pound has pulled back from its recent rally as it slips back to the 1.57 area. The move in the dollar helped lead to some profit taking in cable following its strong run over the past couple of weeks. 
  • The yen has tumbled back to the lower end of 123 as the dollar strengthens. The Manufacturing PMI for Japan slipped back below the 50 level, signalling some small contraction in the region. This caught investors by surprise as expectations were for a number above the key 50 line. This has helped aid some of the selling pressure in yen (BONDX, FOREX).

10:45 am Major averages slide to new session lows -- Dow +13, S&P -1.3, Nasdaq Comp -14 (:TECHX) :  

10:31 am CVS Health names Norman de Greve as new Chief Marketing Officer effective July 15 (CVS) : Norman de Greve is currently President of the Boston and Detroit offices of DigitasLBi.

10:24 am Relative sector weakness (:TECHX) : Sectors that have underperformed in recent trade have been led by Semi SMH, Technology XLK, Utility XLU, Staples XLP, Software IGV, Industrial XLI.

10:23 am Facebook (+1.6%) hits new all time high (FB) :

  • Piper Jaffray yesterday put a $120 tgt on the stock.
  • FB market cap ($241.5 bln) now exceeds WMT's ($234 bln).

10:21 am Stock indices slip off highs, Nasdaq Comp -4.4 sets a new session low -- Dow +29, S&P +1.3 (:TECHX) :  

10:19 am AT&T extends aggressive gap higher start above its Oct/Nov 2014 peaks at 36.15 in recent trade -- session high 36.20 (T) : The stock has pushed to its highest level since July 2014 on the recent run to a new session high.

10:14 am Dow +59 and S&P +4.5 able to notch new session highs, Nasdaq Comp +4.7 lags but has push off its morning low (:TECHX) :  

10:11 am Citrix Systems sets a new morning high at 72.79. (CTXS) : Its early month high is at 72.87 with the 52-wk high from Sep 2014 at 72.89

10:05 am Homebuilders (ITB +0.7%) lifting after May New Home Sales exceed estimates, hit 7+ year high -- ITB at two month high as recent housing data has been strong (ITB) :

  • Homebuilders have generally reported strong results from the Spring selling season.
  • ITB nearing resistance at the $28 level.
  • CHCI +3.7%, BZH +1.9%, LGIH +1.7%, PHM +1.4%, SPF +1.2%, MDC +1.2%, TPH +1.1%, UCP +0.9%, RYL +0.9%, DHI +0.9%, TOL +0.8%, MHO +0.6%, ITB +0.6%, MTH +0.6%, LEN +0.1%, WLH -1.6%, HOV -0.2%, TMHC -0.1%

10:02 am Outperforming Dow +51 and S&P +3.4 hover slightly under their morning highs, Nasdaq Comp -1.3 slips to new low (:TECHX) :  

9:54 am Dow +46 notches new session high (:TECHX) : Helping to underpin the Dow are: UNH +1.2%, VZ +1%, AXP +0.8%, MCD +0.7%, JPM +0.6%, GS +0.6%, MMM +0.6%, IBM +0.6%. Top performing UNH (121.86, +1.61) is hovering modestly below this week/last week and its April highs between 122.20 and 122.32 (session high 121.93). Its all time intraday high from March comes into play at 123.76.

9:41 am Opening Market Summary: Health Care and Financials Pace Opening Advance (:WRAPX) : Equity indices have climbed out of the gate with the S&P 500 (+0.1%) holding a slim opening gain.

Six of ten sectors trade in the green with heavily-weighted financials (+0.4%) and health care (+0.2%) among the early leaders. Similarly, consumer discretionary (+0.2%) and industrials (+0.2%) have contributed to the opening advance while technology (-0.1%), consumer staples (-0.3%), and utilities (-0.5%) weigh.

Elsewhere, Treasuries continue hovering near their worst levels of the morning with the 10-yr yield up four basis points at 2.42%.

The New Home Sales report for May will be released at 10:00 ET (Briefing.com consensus 525K).

9:40 am Relative sector performance (:TECHX) : Sectors outperforming in early dealings include: Reg Bank KRE, Bank KBE, Copper JJC, Home Const ITB, Airline JETS, Rail, Auto, Telecom IYZ, Transports IYT. Early laggards include: silver SLV, Casino, Crude Oil USO, Utility XLU, Gold GLD, REITs IYR.

9:37 am Mildly firmer tone in early trade for major averages as they vacillate below yesterday's highs -- Dow +30, S&P +3, Nasdaq Comp +4 (:TECHX) :  

9:35 am iShares DJ Transports ETF firmer bias in early trade eyeing June high (IYT) : The IYT pushed to a new high for the week in opening action reaching as high as 153.15. Note that its June peak and 50 day ema are at 153.50/153.48 with its 50 sma at 153.83.

9:34 am McEwen Mining announces that production at the El Gallo Mine has exceeded guidance for the second quarter (MUX) : With approximately 15,600 gold equivalent ounces produced so far in Q2, this marks the third consecutive quarter of record production at the El Gallo Mine. Production in Q1 this year totaled 15,391 gold equivalent ounces with year-to-date production of approximately 31,000 gold equivalent ounces.Total production during the second quarter will be approximately 26,530 ounces of gold and 797,000 ounces of silver. Full year production guidance remains unchanged at 96,500 ounces of gold and 3.12 million ounces of silver.

9:30 am CNH Industrial to offer new notes through its Industrial Capital subsidiary; no terms disclosed (CNHI) : CNH Industrial Capital LLC intends to use the net proceeds from the issuance of the notes for working capital and other general corporate purposes, including, among other things, the purchase of receivables or other assets. The net proceeds may also be applied to repay CNH Industrial Capital LLC's indebtedness as it becomes due.

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

  • Tyler Technologies (TYL) has signed a contract with the city of Bend, Oregon, for Tyler's Munis enterprise resource planning solution. The agreement includes software licenses, related professional services, maintenance and support.
  • Rackspace (RAX) announced that YETI, the cooler and drinkware retailer, is leveraging Rackspace Managed Cloud to power its ecommerce site
  • Carpathia, a QTS (QTS) company, announced that the Defense Information Systems Agency has granted a Department of Defense Provisional Authorization allowing Carpathia to host DoD mission data up to Impact Level 2 in a cloud environment
  • Marathon Patent Group (MARA) announced that the Company received notice from the USPTO, that it is closing the ex-parte reexamination on its '375 patent, requested for claims 1 and 7 along with any other relevant claims. The Office action closes prosecution in the ex-parte reexamination of the '375 patent
  • Paratek Pharmaceuticals (PRTK) announced the dosing of the first patient in its Phase 3 clinical trial of its lead drug candidate, omadacycline, for the treatment of Acute Bacterial Skin and Skin Structure Infections. This global Phase 3 study will assess the efficacy and safety of omadacycline compared with linezolid in ABSSSI
  • Semiconductor Manufacturing (SMI), Huawei, and Qualcomm (QCOM) Global Trading Pte held a signing ceremony at the Great Hall of the People, to announce the formation of SMIC Advanced Technology Research & Development Corporation, an equity joint venture company. The joint venture company will focus on R&D towards next generation CMOS logic technology and build China's most advanced integrated circuit development R&D platform.
  • Cyan (CYNI) announced it has been selected to provide the Z-Series Packet-Optical Transport Platforms for Australia and New Zealand-based telecommunications provider Kordia

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

  • Apigee (APIC) announced that UK-based Waitrose has selected the Apigee Edge API management software as key enabling technology for its digital transformation
  • Arcadia Biosciences (RKDA) announced that the US Food and Drug Administration (:FDA) has approved Arcadia's application to amend relevant regulations to permit the use of seed meal from the company's high gamma-linolenic acid safflower seed in animal feed
  • Rubicon Project (RUBI) announced that it is partnering with Moat, an independent SaaS analytics firm, in order to improve viewability across video advertising campaigns. With the partnership, Rubicon Project's Buyer Cloud will provide advertisers with analytics, viewability, and performance insights.
  • Fiserv (FISV) announced that PBC Credit Union, has expanded its long-term relationship with Fiserv, upgrading its DataSafe account processing platform and adding integrated digital solutions to enhance member services
  • Global Eagle Entertainment (ENT) announced that it will equip Dubai-based airline flydubai's current and future fleet of Next-Generation Boeing 737-800 aircraft with GEE's broadband AIRCONNECT satellite connectivity system
  • Hertz Global Holdings (HTZ) announced that its Hertz Equipment Rental Corporation subsidiary has named Bruce Dressel as Chief Operating Officer
  • DTE Energy (DTE) announced it will issue a Request for Proposal to develop a solar generating facility for DTE Energy. DTE is seeking proposals for a solar installation with 5 to 50 megawatts of capacity. The RFP will be issued Wednesday, June 24. 
  • Baptist Health System and Tenet Healthcare (THC) have signed a definitive agreement to create a joint venture that will operate a healthcare network serving Birmingham and central Alabama. The new network will include all Baptist Health System hospitals, Tenet's Brookwood Medical Center and each organization's related businesses. Under the joint venture arrangement, Tenet will be the majority partner and will manage the network's operations.

9:25 am Ocwen Fincl prices $225 mln in fixed rate asset-backed term notes to be issued by Ocwen Freddie Advance Funding (OCN) : The issuance and sale of the Term Notes, which will carry a weighted average fixed interest rate of 2.225%, is subject to customary closing conditions and is expected to close on June 26, 2015.

9:25 am OCI Resources: OCI Enterprises reports that it is evaluating strategic alternatives, for its stake in OCI Resources (OCIR) :  

9:22 am Carnival beats by $0.09, reports revs in-line; guides Q3 EPS below consensus; raises low end of FY15 EPS guidance (CCL) :

  • Reports Q2 (May) adj. earnings of $0.25 per share, $0.09 better than the Capital IQ Consensus of $0.16; revenues fell 1.2% year/year to $3.59 bln vs the $3.56 bln consensus. 
    • On a constant dollar basis, net revenue yields (net revenue per available lower berth day or "ALBD") increased 4.1% for 2Q 2015, which was better than the company's guidance of up 2 to 3%.
  • Co issues downside guidance for Q3, sees adj. EPS of $1.56-1.60 vs. $1.70 Capital IQ Consensus. 
    • Third quarter constant currency net revenue yields are expected to be up 3 to 4% compared to the prior year (up 2 to 3% in constant dollars). Net cruise costs excluding fuel per ALBD for the third quarter are expected to be 2 to 3% higher on a constant dollar basis compared to the prior year. Changes in fuel prices net of derivatives, and currency is expected to reduce third quarter earnings by $0.06 per share.
  • Co issues guidance for FY15, raises adj. EPS to $2.35-2.50 from $2.30-2.50 vs. $2.50 Capital IQ Consensus Estimate. 
    • The co continues to expect full year 2015 net revenue yields on a constant currency basis to be up 3 to 4%, which excludes translational and transactional currency impacts, compared to the prior year (up 2 to 3% on a constant dollar basis compared to the prior year). The company now expects full year 2015 net cruise costs excluding fuel per ALBD to be up ~3% compared to the prior year on a constant dollar basis, which is slightly higher than had been anticipated in the March guidance mainly due to increased investment in advertising. 
    • During the last thirteen weeks, fleetwide booking volumes for the next three quarters were running well ahead of last year at slightly lower prices due to transactional currency impacts. At this time, cumulative advance bookings for the next three quarters are well ahead of the prior year at slightly lower prices again due to transactional currency impacts. 

9:20 am Medtronic announces FDA approval for new TAVR system (MDT) : Co announces the FDA approval and U.S. launch of the new recapturable, self-expanding CoreValve Evolut R System. The first-and-only recapturable and repositionable device available in the U.S., the Evolut R System is approved for transcatheter aortic valve replacement (:TAVR) in severe aortic stenosis patients who are at high or extreme risk for surgery.

9:17 am S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +3.60. (:WRAPX) : The stock market is on track for a flat open as futures on the S&P 500 trade within a point of fair value after holding a modest gain throughout the night. Overseas, European indices are extending yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. In addition, a set of better than expected PMI readings from the region has contributed to the strength in European equity markets.

Domestically, pre-market action has been very quiet with just a few names moving in reaction to stock-specific developments. For instance, Green Dot (GDOT 19.32, +4.01) has surged 26.2% after signing a five-year agreement with Wal-Mart (WMT 72.90, +0.11) to provide prepaid debit card services.

On the economic front, May Durable Orders (-1.8%; Briefing.com consensus -0.5%) and core Durable Orders (+0.5%; consensus +0.6%) missed expectations while the April FHFA Housing Price Index increased 0.3%.

The day's data will be topped off with the 10:00 ET release of May New Home Sales (consensus 525K). 

Treasuries hover near their lows with the 10-yr yield up four basis points at 2.42%. Treasuries slumped to session lows after Federal Reserve Governor Jerome Powell said that two rate hikes could take place before the end of the year if the economy doesn't suffer an unexpected slump.

9:15 am Valeant Pharma and Progrenics (PGNX) submit New Drug Application to the FDA for RELISTOR Tablets for the treatment of opioid-induced constipation (:OIC) in adult patients with chronic non-cancer pain (VRX) :  

9:08 am Whitestone REIT prices its public offering of 3.75 mln common shares for total expected gross proceeds of ~$51.6 mln (WSR) :  

9:07 am LRAD announces a $672,000 follow-on order for LRAD 1000X systems, for an international mining site (LRAD) :  

9:03 am Core Labs acquires Sanchez Technologies -- terms not disclosed (CLB) : Co announces the all cash acquisition of Sanchez Technologies, based in Viarmes, France. Sanchez is a designer and manufacturer of cutting edge reservoir conditions pressure-volume-temperature ("PVT") equipment and instrumentation. Core Lab has fully adopted the Sanchez series of HPHT PVT systems in automating its worldwide reservoir fluids laboratories.

9:02 am Cott has extended the exchange offer for its $525 mln in 5.375% Senior Notes due 2022 to June, 24, 2015 (COT) :  

9:02 am Magellan Midstream: Saddlehorn Pipeline unit announces it will extend the Saddlehorn Pipeline system to Carr, CO (MMP) : Co announces that the Saddlehorn Pipeline system will extend to Carr, CO. The 50-mile pipeline extension from Platteville to Carr, which is anticipated to be constructed with 16-inch diameter pipe, will provide a connection to existing crude oil assets in that region. This extension has been designed to provide shippers with flexible options and streamlined access into the Saddlehorn Pipeline system. The Carr extension project is currently estimated to cost between $80-100 mln.The extension to Carr is anticipated to be in service by the end of 2016.

9:02 am Anheuser-Busch InBev planning investments of at least $1.5 bln in U.S. operations by 2018 (BUD) : Anheuser-Busch announced it will invest more than $1.5 billion in its U.S. brewing, agriculture, packaging and distributing operations by 2018. These investments will support growth of its brands and reinforce the beer company's commitment to the U.S. communities where it operates through local spending and jobs. The company plans to spend an estimated $850 million on brewery and packaging expansion projects, $220 million on product innovation initiatives and $720 million in sustaining and increasing efficiency of its existing footprint. Future spending plans are based on no new or increased taxes or unforeseen events that would negatively impact Anheuser-Busch's business. The expenditures are consistent with Anheuser-Busch InBev's 2015 net capital expenditures guidance.

9:02 am Lions Gate Entertainment appoints Tim Palen to Chief Brand Officer (LGF) : Co announced that Tim Palen has been promoted to Chief Brand Officer (CBO) and President of Worldwide Marketing. Palen joined the company in 2002.

9:01 am 3M to acquire Capital Safety from KKR (KKR) for ~$2.5 billion (MMM) : The co announced that it has entered into a definitive agreement to acquire Capital Safety from KKR (KKR) for a total enterprise value of $2.5 bln, including the assumption of ~$0.7 blnof debt, net of cash acquired. Capital Safety is a global provider of fall protection equipment, one of the fastest-growing safety categories within the global personal protective equipment industry. 

  • On a GAAP reported basis, 3M estimates the acquisition to be $0.04 dilutive to earnings in the first 12 months following completion of the transaction. Excluding purchase accounting adjustments and anticipated one-time expenses related to the transaction and integration, 3M estimates the acquisition to be $0.12 accretive to earnings over the same period. 
  • 3M will finance the transaction with existing cash, a portion of which will come from outside the U.S.

9:01 am S&P futures vs fair value: +0.60. Nasdaq futures vs fair value: +4.20. (:WRAPX) : The S&P 500 futures trade one point above fair value.

The FHFA Housing Price Index for April rose 0.3%, which followed an unrevised increase of 0.3% in March.

9:01 am Uranium Energy agrees to purchase up to 5 mln common units at $2/unit (UEC) :

  • Co announces that it has entered into definitive agreements with two institutional investors to purchase an aggregate of up to 5 mln units of the Company at a price of $2.00/unit for gross proceeds of up to $10 mln. 
  • Each Unit is comprised of one share of common stock of the Company and 0.50 of one share purchase warrant, with each whole Warrant being exercisable at a price of $2.35 to purchase one share of common stock of the Company for a three year period from the date of issuance. 
  • The closing of the offering is expected to take place on or about June 26, 2015.

9:00 am PhotoMedex reports strong no!no! sales during recent home shopping events, exceeding unit sales goal (PHMD) : Co announces two very successful live television home shopping sales events, one in the US at the end of May and the other in the UK at mid-June. Consumers purchased approximately 17,400 units of no!no! Hair and retail sales of nearly $3.5 million in a 24-hour period in the US. 

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

  • EXL (EXLS) announced it has named Scott McFarland as Senior Vice President and General Manager of EXL Healthcare's Platform Technology business
  • Vuzix Corporation (VUZI) announced that Eyeglass World, a US retailer of prescription eyewear, has launched the first retail collection of prescription lenses for the Vuzix M100 Smart Glasses and other smart glasses technologies in the U.S.
  • Sadara Chemical Company announced it is progressing on-budget and on-schedule in alignment with its strategy to enable cost-advantaged growth in regions such as Asia Pacific, the Middle East, Africa, and Eastern and Central Europe. Sadara is a joint venture developed by The Dow Chemical Company (DOW) and Saudi Arabian Oil Company
  • IsoRay (ISR) has retained Wilson Sonsini Goodrich & Rosati to defend the Company and certain officers named in several lawsuits filed against them, regarding a May 19 online publication of the peer-reviewed article in the journal Brachytherapy
  • 1347 Property Insurance Holdings (PIH) announced it has finalized an alliance agreement with Brotherhood Mutual Insurance Company. Under this partnership, the co will write supplemental wind and hail policies in alliance with Brotherhood Mutual's commercial multi-peril policy platform for policyholders located in Texas

8:56 am S&P futures vs fair value: +0.40. Nasdaq futures vs fair value: +4.20. (:WRAPX) : The S&P 500 futures trade within a point of fair value.

It was another good day for most markets in the Asia-Pacific region, which continued to draft off reports of encouraging developments surrounding a potential (and another) bailout deal for Greece. China's Shanghai Composite stole the trading show, swinging 7.3% between its low and high for the session and ending the day with a 2.2% gain.

  • In economic data: 
    • China's June HSBC Manufacturing PMI 49.6 (expected 49.4; prior 49.2) 
    • Japan while June Manufacturing PMI 49.9 (expected 50.6; prior 50.9) 
    • Australia's Q1 House Price Index +1.6% quarter-over-quarter (expected +2.3%; prior +2.0%) and CB Leading Index -0.3% month-over-month (expected 0.0%) 
    • Singapore's May CPI -0.4% year-over-year (expected -0.5%; prior -0.5%) 
------
  • Japan's Nikkei increased 1.9% and finished at its highs for the day, bolstered by broad-based gains. The basic materials (+2.5%), financial (+2.2%), and technology (+2.1%) sectors were the best-performing areas. Individual standouts included Mitsui Chemicals (+7.5%), Mitsubishi Chemical Holdings (+6.4%), and Tosoh Corp (+5.7%). Sumitomo Chemical (-4.9%) and Sharp Corp (-1.8%) led a small group of losers. Out of the 225 index members, 211 ended higher, 11 finished lower, and 3 were unchanged. 
  • Hong Kong's Hang Seng jumped 0.9%, helped by strength in the communications (+1.7%), energy (+1.4%), and financial (+1.0%) sectors. China Resources Power Holdings (+3.8%), China Mobile (+3.2%), and BOC Hong Kong Holdings (+3.1%) sat atop the list of winners. Link REIT (-4.3%) and China Construction Bank (-3.1%) were the only two stocks to lose more than 1.0%. Out of the 50 index members, 42 ended higher and 8 finished lower. 
  • China's Shanghai Composite declined as much as 4.8% in early action, but then soared in the second half of its trading session, rallying 7.3% to end the day with a 2.2% gain. The advance followed on the heels of the flash HSBC Manufacturing PMI report for June, which was better than expected but still in contraction territory at 49.6. The utilities (+4.5%) and industrial (+4.4%) sectors were the best-performing areas in the Chinese market on Tuesday. 
Major European indices trade higher across the board with Germany's DAX (+1.3%) in the lead as regional markets extend yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. The Eurogroup is scheduled to meet once again to discuss a potential debt deal with Greek representatives tomorrow at 17:00 GMT. In addition, a set of better than expected PMI readings from the region has contributed to the strength in equity markets.
  • Participants received several data points: 
    • Eurozone June Flash Manufacturing PMI 52.5 (expected 52.2; prior 52.2) while Flash Services PMI 54.4 (consensus 53.6; last 53.8) 
    • Germany's June Flash Manufacturing PMI 51.9 (consensus 51.3; last 51.1) while Flash Services PMI 54.2 (consensus 53.0; previous 53.0) 
    • UK's June CBI Industrial Trends Orders -7 (consensus 1; prior -5) 
    • French June Flash Manufacturing PMI 50.5 (expected 49.5; last 49.4) while Flash Services PMI 54.1 (consensus 52.6; previous 52.8). Separately, June Business Survey slipped to 100 from 103 (consensus 103) 
    • Italy's April Retail Sales +0.7% month-over-month (expected 0.1%; last -0.1%) while the year-over-year reading was flat (prior -0.2%) 
------
  • UK's FTSE is higher by 0.3% with consumer and industrial names in the lead. Diageo, Sports Direct International, Meggitt, and Babcock Group show gains between 1.0% and 3.2%. Utilities lag with National Grid and Severn Trent both down near 0.3% apiece. 
  • In France, the CAC trades higher by 1.3% with all but one component trading higher. Industrials Airbus, Peugeot, and Renault are up between 1.8% and 3.2% while financials BNP Paribas and Credit Agricole trade higher by 1.8% and 1.4%, respectively. 
  • Germany's DAX has climbed 1.3% with exporters BMW (+2.5%) and Daimler (+2.1%) among the leaders. On the downside, Deutsche Lufthansa is the lone decliner, trading lower by 0.5%.

8:47 am KKR to acquire C.H.I. Overhead Doors from San Francisco-based private equity firm FFL; terms not disclosed (KKR) : CHI manufactures overhead sectional garage door products for the residential and commercial markets, as well as rolling steel doors for commercial and industrial customers

8:43 am Darden Restaurants on Q4 Conference Call: Real Estate Transaction Notes (DRI) :

  • Co reiterated that it will separate 500 restaurants in the transaction
    • A sale leaseback will include 70 restaurants and its Orlando Restaurant Support Center property and buildings
    • Co intends to Pay down $ 1 bln in debt
      • Mgmt sees favorable outcomes in using capital to reduce debt, largely due to strengthening of its balance sheet
      • Execs see improved capital structure and improved ROIC post-transaction 
  • Co expects richer market valuation/recognition of real estate assets, once removed from the restaurant business.

8:43 am Verizon completes acquisition of AOL (AOL) (VZ) : AOL CEO Tim Armstrong will continue to lead AOL operations after the closing, and Bob Toohey, president of Verizon Digital Media Services, will report to Armstrong.

8:36 am Coty announces that Elio Leoni Sceti, who was planned to assume CEO role in July, has decided not to join the company (COTY) : Bart Becht will remain as Interim Chief Executive Officer of Coty. Becht will also continue in his role as Chairman of Coty. In connection with this change, Elio Leoni Sceti, who was planned to assume the role of CEO in July, has reconsidered and decided not to join Coty.

8:33 am LiveDeal looking to acquire a company that had $60 mln in rev and $5 mln in net profit last year (LIVE) : Co has identified the first target of its recently announced acquisition strategy, which has reported $60M in revenue and $5M in [net] profit based on its 2014 [unaudited] financial statements.

  • LiveDeal intends to finance the potential acquisition using traditional debt financing, as the current debt market is favorable for such an acquisition, although the Company could close this potential transaction with cash on hand without incurring the debt. 
  • "Although we are quickly making good progress with definitive acquisition and financing documents and we are highly confident that we will be able to announce a closing in the near term, we cannot guarantee the timing of that announcement or its actual occurrence."

8:33 am European Markets Update: FTSE +0.3%, CAC +1.3%, DAX +1.4% (:SUMRX) : Major European indices trade higher across the board with Germany's DAX (+1.4%) in the lead as regional markets extend yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. The Eurogroup is scheduled to meet once again to discuss a potential debt deal with Greek representatives tomorrow at 17:00 GMT. In addition, a set of better than expected PMI readings from the region has contributed to the strength in equity markets.

  • Participants received several data points: 
    • Eurozone June Flash Manufacturing PMI 52.5 (expected 52.2; prior 52.2) while Flash Services PMI 54.4 (consensus 53.6; last 53.8) 
    • Germany's June Flash Manufacturing PMI 51.9 (consensus 51.3; last 51.1) while Flash Services PMI 54.2 (consensus 53.0; previous 53.0) 
    • UK's June CBI Industrial Trends Orders -7 (consensus 1; prior -5) 
    • French June Flash Manufacturing PMI 50.5 (expected 49.5; last 49.4) while Flash Services PMI 54.1 (consensus 52.6; previous 52.8). Separately, June Business Survey slipped to 100 from 103 (consensus 103) 
    • Italy's April Retail Sales +0.7% month-over-month (expected 0.1%; last -0.1%) while the year-over-year reading was flat (prior -0.2%) 
------
  • UK's FTSE is higher by 0.3% with consumer and industrial names in the lead. Diageo, Sports Direct International, Meggitt, and Babcock Group show gains between 1.0% and 3.2%. Utilities lag with National Grid and Severn Trent both down near 0.3% apiece. 
  • In France, the CAC trades higher by 1.3% with all but one component trading higher. Industrials Airbus, Peugeot, and Renault are up between 1.8% and 3.2% while financials BNP Paribas and Credit Agricole trade higher by 1.8% and 1.4%, respectively. 
  • Germany's DAX has climbed 1.4% with exporters BMW (+2.5%) and Daimler (+2.1%) among the leaders. On the downside, Deutsche Lufthansa is the lone decliner, trading lower by 0.5%.

8:32 am Second Sight Medical Products reports positive three year results, from a multi-center clinical trial of its Argus II Retinal Prosthesis System (EYES) : Results showed that with the Argus II System, improvements in visual function and O&M were maintained out to three years. Up to 89 percent of subjects performed statistically better with the Argus II system implanted compared with native residual vision in visual function tasks at year three.

  • During the trial, the FLORA also demonstrated that up to 80 percent of the subjects received benefit from the system when considering both functional vision and patient-reported quality of life, and no subjects were affected negatively. 
  • The results of the trial support the long-term safety profile and benefit of the Argus II for individuals who are blind due to retinitis pigmentosa

8:32 am Anika Therapeutics announces it has submitted an Investigational Device Exemption with theFDA to conduct a Phase III clinical trial to support the expanded use of MONOVISC for the treatment of pain caused by osteoarthritis of the hip (ANIK) : The study will be sponsored by DePuy Synthes Mitek Sports Medicine, Anika's commercial partner and exclusive distributor of MONOVISC in the U.S.

8:31 am S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.30. (:WRAPX) : The S&P 500 futures trade three points above fair value.

May durable goods orders fell 1.8%, which was worse than the 0.5% decrease expected among economists polled by Briefing.com. This comes after the prior month's revised reading reflected an decrease of 1.5% (from -1.0%). Excluding transportation, durable orders increased 0.5% (consensus 0.6%) to follow the prior month's revised decline of 0.3% (from -0.2%).

8:31 am Daxor Corporation receives signed contract from Self Regional Healthcare for placement of blood volume analyzer (DXR) :  

8:31 am Market View: Sep. stock-index futures hold a bid above fair values following the 8:30 am ET economic data points (:TECHX) :

  • ESu5 @ 2118.00 +5.25

  • YMu5 @ 18064 +39

  • NQu5 @ 4545.50 +12.75

8:31 am Momo receives 'going private' offer from group including Co-Founder, Chairman and CEO for $18.90/share (shares halted) (MOMO) : The co announced that its board of directors has received a non-binding proposal letter, dated June 23, 2015, from Yan Tang, co-founder, chairman and chief executive officer of Momo, Matrix Partners China II Hong Kong Limited, Sequoia Capital China Investment Management L.P. and Huatai Ruilian Fund Management Co., Ltd., proposing a "going-private" transaction to acquire all of the outstanding Class A ordinary shares of Momo not already owned by the Buyer Group for $18.90 in cash per American depositary share, which represents a premium of 20.5% to the closing trading price of the Company's ADS on June 22, 2015, the last trading day prior to the date hereof.

  • The Buyer Group and their affiliates beneficially own an aggregate of approximately 47.8% of all of the Company's issued and outstanding Shares, which represent approximately 84.1% of the aggregate voting power of the Company. 
  • The Board has formed a special committee comprised of two independent, disinterested directors, Messrs. Dave Daqing Qi and Benson Bing Chung Tam. The special committee ?plans to retain legal and financial advisors to assist it in evaluating the Transaction.

8:30 am GasLog Partners prices its 7.5 mln share public offering at $23.90 per unit (GLOP) : Co prices its public offering of 7.5 mln shares at $23.90 per unit. The Partnership plans to use the net proceeds to fund the previously announced acquisition of 100% of the ownership interests in GAS-nineteen Ltd., Gas-twenty Ltd. and GAS-twenty one Ltd., the entities that own the LNG carriers the Methane Alison Victoria, the Methane Shirley Elisabeth and the Methane Heather Sally, respectively, from GasLog (GLOG), to partially prepay amounts under an existing credit facility related to the vessels being acquired and for general partnership purposes. 

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

  • Genomic Health (GHDX) announced that the Journal of Surgical Oncology published results from a multi-center study of the Oncotype DX DCIS Score, demonstrating the test has significant impact on the treatment recommendations for patients with ductal carcinoma in situ (:DCIS), also referred to as stage 0 or pre-invasive breast cancer. These study results underscore the practice-changing clinical utility of the test for many of the 50,000 women diagnosed with DCIS each year in the United States alone.
  • Turtle Beach (HEAR) announced a new partnership with Amplified Resource Group. Under this newly formed partnership, ARG -a provider of products and consulting services to the hearing healthcare industry -will add HyperSound Clear to its portfolio as soon as it becomes available.
  • Seagate Technology plc (STX) announced that its Backup Plus family of external storage offerings will now include 200GB of OneDrive cloud storage
  • Cara Therapeutics (CARA) announced that it has completed enrollment in its Phase 2 proof-of-concept trial of its lead kappa opioid agonist, CR845, for the treatment of uremic pruritus
  • Novatel Wireless (MIFI) announced AT&T (T) network approval of the MiFi Secure SA 1100
  • PlanSource announced that it has added MetLife (MET) to its distribution platform for employee benefits.
  • Huntsman (HUN) announces it has acquired Tecnoelastomeri, a manufacturer of methylene diphenyl diisocyanate (:MDI) based hot-cast elastomer systems and processing machines, based in Italy. 2014 sales revenue for Tecnoelastomeri was approximately $12 million. The purchase price was not disclosed.
  • Zayo Group (ZAYO) announced that it has upgraded its Ethernet backbone to 100 Gigabit per second capabilities. The upgrade will enable Zayo to support the growing bandwidth needs of its customers.

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

  • VolitionRx Limited (VNRX) announced that it has established partnerships with two market access consulting agencies, DecideumCogentia and MedPass International, to support market access of its NuQ cancer tests across Europe. Under the agreements, DecideumCogentia will provide strategy and counsel for the Company in gaining entry for its colorectal cancer detection test into the United Kingdom market, while MedPass will support the tests' entry into the rest of Europe
  • IGC (IGC) announces that the company applied for a provisional patent based on a novel therapy that uses extracts from the cannabis plant for the treatment of multiple seizure disorders and medical refractory epilepsy. The therapy, which is expected to also have applications in veterinarian use, is administered using a variety of delivery technologies. Co expects to establish metabolic profiling and apply to the FDA for trials.
  • Zillow Group (Z) announced that Zillow and Trulia have signed 50 new agreements with multiple listing services (MLSs) in the past six weeks
  • DigiCert announced its acquisition of the CyberTrust Enterprise SSL business from Verizon (VZ) Enterprise Solutions. Financial terms of the deal were not disclosed
  • Equifax Inc (EFX) announced that it has expanded its partnership with 700 Credit, to allow for co's access to 700 Credit's existing verification solution
  • Mondelez International (MDLZ) announced that it has renewed its strategic partnership with Facebook (FB), with a focus on creating and delivering video content and driving impulse snack purchasing online
  • Lattice Semiconductor Corporation (LSCC) announced its iCE40 LM FPGA has been integrated in the recently released ZTE Star 2 flagship smartphone to perform IR remote control, and sensor hub functions
  • Axcelis Technologies (ACLS) announced that it has received a multi system, follow on order for the Purion XE high energy implanter from a major chipmaker in the Asia Pacific Region. The systems are scheduled to ship in the third quarter.

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

  • OSI Systems (OSIS) announced that its Security division, Rapiscan Systems, received orders totaling approximately $9 million from customers in Africa to provide multiple units of its Rapiscan Eagle cargo inspection solution. 
  • NRG Renew LLC, a wholly owned subsidiary of NRG Energy (NRG) announced plans to develop a 20 megawatt solar energy facility that will generate clean, reliable solar power for delivery to Cisco's (CSCO) San Jose headquarters.

8:27 am PartnerRe: Exor reiterates stance that its offer for PartnerRe is superior by all significant measures, says the PartnerRe Board is engaged in irresponsible campaign to mislead its own shareholders (PRE) : EXOR S.p.A. announces it is entering the second week of meetings with PartnerRe (PRE) analysts and investors to ensure the maximum clarity regarding its offer for PartnerRe shareholders. EXOR says has received a positive response for its offer and for the presentation of the merits, certainty and superiority of its $137.50 per share, all-cash binding offer. EXOR continues to urge PartnerRe shareholders to vote the GOLD proxy card AGAINST all three proposals related to the AXIS (AXS) transaction and asks shareholders not to sign or return any WHITE proxy cards they receive from PartnerRe.

8:24 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance
: SONC -5.8%

M&A news: CTP -91.3% (announce negotiations with DHR International regarding an acquisition of the co expired with no definitive agreement for the sale of the co having been reached), CORR -3.4% (to acquire the Grand Isle Gathering System for $245 mln from Energy XXI (EXXI); announced 11.25 mln share offering of common stock; increased quarterly dividend to $0.60 from $0.54 per share)

Select metals/mining stocks trading lower: HMY -4.3%, GFI -1.9%, SLV -1.2%, GOLD -1%, SLW -0.8%


Other news
: VICL -48.6% (reported top-line results from the Phase 1/2 trial of its therapeutic genital herpes vaccine; neither monovalent nor bivalent vaccine met the primary endpoint), GLOP -8% (announced acquisition of three vessels from GasLog (GLOG) for $483 mln; announced a public offering of 7.5 mln common units), AXN -7.2% (filed for $50 mln mixed securities shelf offering), WSR -4.7% (to make a public offering of 3.75 mln of its common shares), TGEN -2.2%  (filed for ~3.72 mln share common stock offering), XL -1.6% (reports of a 5 mln share block trade in the stock), GRBK -1.2% (announced proposed offering of 17 mln shares of common stock), VTG -1.2% (co announced it has retained Lazard to assist in review of financing and strategic opportunities)

8:21 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance
: BBRY +8.3%, DRI +6.7%

M&A news: EXXI +3.6% (confirmed sale of its Grand Isle Gathering System to CorEnergy Infrastructure Trust (CORR) for $245 mln),SYT +0.5% (Chairman reaffirms stance regarding Monsanta (MON) takeover offer in video interview; states MON trying to buy the co on the cheap)

Select EU related names showing cont strength: ALV +2.4%, SHPG +1.9%, SNY +1.5%, UN +1.2%, ALU +1%

Other news: GDOT +30.6% (announced 5-year agreement with Walmart (WMT) and $150 mln stock buyback),PHMD +19% (announces the sale of its worldwide XTRAC and VTRAC psoriasis and vitiligo treatment businesses to MELA Sciences (MELA) for $42.5 mln in cash (MELA) shares halted) ),AMRN +15.6% (will present new in vitro eicosapentaenoic acid study data; found that EPA reduced cholesterol crystalline domain levels in cholesterol-enriched model membranes by 65%will present new in vitro eicosapentaenoic acid study data; found that EPA reduced cholesterol crystalline domain levels in cholesterol-enriched model membranes by 65%),BIND +7.5% (FDA authorizes clinical trial with AstraZeneca's (AZN) Aurora B kinase inhibitor),WAC +4.3% (Baker Street Capital disclosed 22.3% active stake in 13D filing),SGYP +4% (initiates a second Phase 3 clinical trial of Plecanatide),KEG +3.5% (named Robert Drummond President and COO)),NBG +3.1% (optimism of Greece deal in coming days),AMBA +3% (modest strength following yday's sell off),QURE +2.3% (Bristol-Myers Squibb discloses 4.9% passive stake in 13G filing; stake to rise to 9.9% upon future purchases required under agreement between the companies),MDR +2.2% (awarded a lump sum contract by LLOG Exploration Offshore, for services in the Gulf of Mexico),APPY +1.2% (to host an investor conference call to provide an update on regulatory and business matters, on Wednesday, June 24, 2015, at 4:30 p.m. ET),KRFT +1% (declares special cash dividend of $16.50 per share, conditioned upon closing of proposed merger with Heinz ),HZNP +1% (USPTO issues an additional notice of allowance with claims covering Ravicti oral liquid),RDUS +0.9% (favorable commentary on Monday's Mad Money),NSPH +0.8% (announced the presentation of new studies highlighting antibiotic resistance detection with its verigene blood culture tests),VIMC +0.8% (receives $22 mln contract for the provision of SVAC-compliant video surveillance cameras and system to Jincheng Municipal Government in Shanxi Province)

Analyst comments: CASI +6.6% (initiated with a Buy at H.C. Wainwright; tgt $2.50),LPCN +3.1% (initiated with a Buy at Canaccord Genuity; $15 tgt),DEO +2.3% (upgraded to Buy from Neutral at Nomura),T +1.6% (upgraded to Overweight from Equal Weight at Barclays; upgraded to Buy from Neutral at UBS),VOD +1.5% (upgraded to Buy from Neutral at Nomura),YELP +1.4% (initiated with a Buy at Topeka Capital Markets ),PRGO +1.2% (initiated with an Outperform at BMO Capital),CI +0.9% (target raised to $175 from $160 at Leerink Partners),JBLU +0.9% (upgraded to Equal-Weight from Underweight at Morgan Stanley),DAL +0.9% (assumed with a Overweight at Morgan Stanley),IHG +0.9% (upgraded to Outperform at Credit Suisse),SNN +0.6% (upgraded to Buy from Neutral at UBS),GG +0.6% (upgraded to Action List Buy at TD Securities; $29 tgt)

8:16 am Versar is awarded a contract from the General Services Administration, with a max contract capacity of $2.8 mln (VSR) : Co was awarded a new contract from the General Services Administration to provide onsite professional engineering and program management advice, assistance and support for civil engineering activities related to various services performed at the Air National Guard Readiness Center.

  • The firm fixed price contract is a single award with a maximum four-year period of performance consisting of a one base year and three option years. 
  • The maximum contract capacity is $2.8 million and the fully funded amount of the base year is approximately $700 thousand.

8:13 am P.A.M. Transport extends its tender offer to purchase common stock between $59-$63/share, until July 9, 2015 (PTSI) :  

8:09 am MELA Sciences confirms purchase XTRAC and VTRAC businesses from PhotoMedex (PHMD) (MELA) : To finance the transaction, the Company entered into a securities purchase agreement with institutional investors in connection with a private placement of $42.5 million aggregate principal amount of senior secured notes and convertible debentures and warrants to purchase 3.0 million shares of common stock at an exercise price of $0.75 per share. The Company sold $10.0 million principal amount of senior secured notes bearing interest at 9% per year, with a maturity date of the earlier of 30 days after the Company obtains stockholder approval of stock issuances under the debentures and the warrants or November 30, 2015. The Company also issued $32.5 million principal amount of senior secured convertible debentures that, subject to certain ownership limitations and stockholder approval conditions, will be convertible into approximately 43.3 million shares of common stock at an initial conversion price of $0.75 per share. 

  • The XTRAC and VTRAC businesses generated $30.6 million in revenues in 2014.

8:08 am Amarin will present new in vitro eicosapentaenoic acid study data; found that EPA reduced cholesterol crystalline domain levels in cholesterol-enriched model membranes by 65% (AMRN) : "The purpose of the study was to examine whether EPA, under atherosclerotic-like conditions, can reduce the formation of cholesterol crystalline domains. Our research team found that EPA reduced cholesterol crystalline domain levels in cholesterol-enriched model membranes by 65% (p

8:05 am Durect plans to conduct a new POSIDUR Phase 3 clinical trial, consisting of ~300 patients undergoing laparoscopic cholecystectomy surgery (DRRX) : Co anticipates beginning the trial in the fall of 2015 and expects that it will take approximately one year to complete enrollment.

  • The study will be a randomized, parallel-group, double-blind, placebo-controlled, multicenter trial of POSIDUR in patients undergoing laparoscopic cholecystectomy. The objective of the study will be to evaluate the safety and efficacy of POSIDUR for the management of postoperative pain. 
  • The primary efficacy endpoint will be pain intensity on movement over 0-72 hours after surgery.

8:05 am Ashland announces the expiration of its cash tender offer to purchase any and all of its outstanding $600 mln aggregate principal amount of 3.000% Senior Notes due 2016 (ASH) :  

8:04 am China Recycling Energy receives a Nasdaq notice of non-compliance with the $1 minimum bid standard (CREG) :  

8:04 am W.P. Carey announces new senior management responsibilities; Hisham Kader has been appointed Chief Financial Officer and Managing Director (WPC) :

  • Jason Fox has been named President of W. P. Carey Inc., in addition to his current role as Global Head of Investments overseeing the sourcing, negotiating and structuring of acquisitions on behalf of both W. P. Carey and its CPA series of non-traded REITs. 
  • Hisham Kader has been appointed Chief Financial Officer and Managing Director of W. P. Carey Inc. having served as its Chief Accounting Officer since 2012. 
  • Katy Rice, who served as Chief Financial Officer of W. P. Carey Inc. since 2013, has been promoted to Senior Managing Director. 

8:03 am Henry Schein will acquire 85% of Jorgen Kruuse A/S, distributor of veterinary supplies in the Nordic countries (HSIC) :

  • KRUUSE had sales in 2014 of approximately $90 million, and will extend Henry Schein's geographic presence to Denmark, Norway and Sweden. The remaining 15% of KRUUSE will be retained by the Kruuse family. Henry Schein expects the transaction to close in the third quarter of 2015, and for the acquisition to be neutral to its earnings per share from the date of closing through the end of 2015 and accretive thereafter. 
  • Additional financial details of the transaction were not disclosed.

8:03 am Synta Pharma reports a publication in Cancer Immunology Research, that describes the rationale for combining Hsp90 and immune checkpoint inhibition for cancer therapy (SNTA) : Synta is currently studying the Hsp90 inhibitor ganetespib in several randomized studies, including the GALAXY-2 trial, a global, randomized, multi-center Phase 3 study of ganetespib and docetaxel for the second-line treatment of advanced non-small cell lung adenocarcinoma.

  • The review article describes preclinical findings that suggest that proteasomal degradation of cellular client proteins associated with Hsp90 inhibition may augment antitumor immune response through increased cellular antigen expression and subsequent enhanced T-cell recruitment and tumor-cell recognition. 
  • The review article also explains that client proteins affected by Hsp90 inhibition include oncogenes that may drive expression of Programmed Death-Ligand 1 (PD-L1), a key immune checkpoint. The resulting reduction of PD-L1 expression on tumor cells may increase T-cell mediated cytotoxic activity and complement the activity of selective anti-PD-1 or anti-PD-L1 antibody therapies. 
  • This is supported by in vivo study results, where ganetespib was found to potentiate the antitumor efficacy of anti-PD-L1 antibody treatment.

8:03 am Embraer SA reports a deal with Etihad Airways, for four Phenom 100E jets, and options for three additional aircraft (ERJ) :

  • Embraer Executive Jets announced that Etihad Flight College, a wholly-owned subsidiary of Etihad Airways, the national airline of the United Arab Emirates, has signed a purchase agreement for four Phenom 100E jets, and options for three additional aircraft of the same model.
  • Based on current list prices the deal is valued at about USD 30 million, if all options are exercised, and deliveries of the aircraft to Etihad Flight College will start in Q1 of 2016.
  • The delivery of the four new Embraer Phenom 100E jets will bring to 20 the number of aircraft in the trainer fleet, which is currently composed of 16 single-engine propeller airplanes.

8:02 am Duke Energy recommends full excavation of 12 more coal ash basins in North Carolina (DUK) : Building on the momentum of coal ash excavation work already underway at several Carolinas sites, Duke Energy today recommends full excavation of an additional 12 coal ash basins in North Carolina. The material would be safely reused in lined structural fills or permanently disposed in lined landfills. Today's announcement brings to 24 the total number of Carolinas basins the company is prepared to close by removing ash from its current storage locations at each power plant.

8:02 am Intra-Cellular Therapies initiates enrollment for the second Phase 3 clinical trial of ITI-007 (ITCI) : Co announces the initiation of enrollment for the second Phase 3 clinical trial of the its lead product candidate ITI-007. Co anticipates top-line results from this trial will be available in 2016. Co plans to initiate clinical trials for ITI-007 in bipolar depression and behavioral disturbances in patients with dementia later this year. Based on the existing ITI-007 safety and efficacy data and its unique pharmacology, the Co intends to expand the development of ITI-007 in different neuropsychiatric indications.

8:01 am Integrated Silicon: Uphill raises offer for ISSI to $23 from $22 after Cypress (CY) raised its offer to $22.25 yesterday (ISSI) : Co has entered into a further amendment to the previously announced merger agreement with Uphill Investment Co. As a result of the amendment, the merger consideration was further increased to $23.00 per share in cash, from the $22.00 per share in cash pursuant to the Agreement of Merger dated as of March 12, 2015, as previously amended.

  • CY raised its offer to $22.25 from $21.25 yesterday after Uphill raised its offer to $22 on June 19.

8:01 am Corp Office Props prices offering of $300 million of 10-Year Senior Unsecured Notes (OFC) : Co announced that its operating partnership, Corporate Office Properties, L.P., has priced an offering of $300 million aggregate principal amount of 5.00% senior unsecured notes due July 1, 2025 at a price equal to 99.510% of the principal amount. The Notes will be senior unsecured obligations of the Operating Partnership and will be fully and unconditionally guaranteed by COPT. The Operating Partnership intends to use the net proceeds from the offering to repay borrowings under its unsecured revolving credit facility and for general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Incorporated, Citigroup Global Markets Inc. and Wells Fargo Securities, LLC are acting as joint book-running managers.

8:01 am PhotoMedex announces the sale of its worldwide XTRAC and VTRAC psoriasis and vitiligo treatment businesses to MELA Sciences (MELA) for $42.5 mln in cash (MELA shares halted) (PHMD) : Co announces the sale of its worldwide XTRAC and VTRAC psoriasis and vitiligo treatment businesses to MELA Sciences (MELA) for $42.5 mln in cash. In addition, the company announces it has paid off in full all outstanding debt, which totaled $40.1 mln as of June 22, 2015. The XTRAC and VTRAC businesses generated $30.6 mln in revenues in 2014.

8:00 am Roche announces further encouraging data from study of ACE910 -- Data from Phase I extension study showed that reduction in bleeding rates was maintained after a follow-up of 5.6 to 18.5 months (RHHBY) : Co yesterday announced new data from the first study of the novel humanised bispecific antibody ACE910 (RG6013) in people with severe haemophilia A at the International Society on Thrombosis and Haemostasis (:ISTH) annual meeting.

  • This is a long-term follow-up of the Phase I study presented at the annual meeting of the American Society of Hematology (ASH) in 2014, which reported data for the first 12 weeks of treatment. 
  • New data from the open-label Phase I extension study suggested that once-weekly subcutaneous administration of ACE910 had a promising prophylactic efficacy profile in people with severe haemophilia A, after a follow-up of 5.6 to 18.5 months. The tolerability profile of ACE910 was consistent with that previously observed in the Phase I study data presented last year.

7:59 am S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.80. (:WRAPX) : U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover three points above fair value after trading inside a seven-point range throughout the night.

Meanwhile, European indices are extending yesterday's gains amid continued optimism that a deal between Greece and its creditors will be secured in the near future. In addition, a set of better than expected PMI readings from the region has contributed to the strength in equity markets.

Yesterday was very quiet on the economic front, but today May Durable Orders (Briefing.com consensus -0.5%) will be reported at 8:30 ET while the FHFA Housing Price Index for April will be released at 9:00 ET. The day's data will be topped off with the 10:00 ET release of May New Home Sales (consensus 525K).  

Treasuries are little changed with the 10-yr yield at 2.38%.

In U.S. corporate news of note:

  • AT&T (T 35.58, +0.54): +1.5% in reaction to upgrades at Barclays and UBS. 
  • BlackBerry (BBRY 10.01, +0.81): +8.8% after reporting a one-cent miss and announcing a patent cross-licensing agreement with Cisco Systems (CSCO 28.94, 0.00). 
  • Darden Restaurants (DRI 73.68, +4.30): +6.2% after beating bottom-line estimates and guiding fiscal-year 2016 earnings above consensus. 
  • Green Dot (GDOT 19.76, +4.45): +29.1% after signing a five-year agreement with Wal-Mart (WMT 72.90, +0.11) to provide prepaid debit card services. 
Reviewing overnight developments:
  • Asian markets ended higher. Hong Kong's Hang Seng +0.9%, Japan's Nikkei +1.9%, and China's Shanghai Composite +2.2% 
    • In economic data: 
      • China's June HSBC Manufacturing PMI 49.6 (expected 49.4; prior 49.2) 
      • Japan while June Manufacturing PMI 49.9 (expected 50.6; prior 50.9) 
      • Australia's Q1 House Price Index +1.6% quarter-over-quarter (expected +2.3%; prior +2.0%) and CB Leading Index -0.3% month-over-month (expected 0.0%) 
      • Singapore's May CPI -0.4% year-over-year (expected -0.5%; prior -0.5%) 
    • In news: 
      • The Employment component of China's Manufacturing PMI indicated the sharpest pace of staff reductions in six years
  • Major European indices trade higher across the board. UK's FTSE +0.3%, Germany's DAX +1.3%, and France's CAC +1.3%. Elsewhere, Spain's IBEX +0.8% and Italy's MIB +0.9% 
    • Participants received several data points: 
      • Eurozone June Flash Manufacturing PMI 52.5 (expected 52.2; prior 52.2) while Flash Services PMI 54.4 (consensus 53.6; last 53.8) 
      • Germany's June Flash Manufacturing PMI 51.9 (consensus 51.3; last 51.1) while Flash Services PMI 54.2 (consensus 53.0; previous 53.0) 
      • UK's June CBI Industrial Trends Orders -7 (consensus 1; prior -5) 
      • French June Flash Manufacturing PMI 50.5 (expected 49.5; last 49.4) while Flash Services PMI 54.1 (consensus 52.6; previous 52.8). Separately, June Business Survey slipped to 100 from 103 (consensus 103) 
      • Italy's April Retail Sales +0.7% month-over-month (expected 0.1%; last -0.1%) while the year-over-year reading was flat (prior -0.2%) 
    • Among news of note: 
      • The Eurogroup is scheduled to meet once again to discuss a potential debt deal with Greek representatives on Wednesday at 17:00 GMT

7:32 am BlackBerry and Cisco (CSCO) sign long-term patent cross-licensing agreement -- BlackBerry will receive a license fee from Cisco, terms not disclosed (BBRY) : Blackberry (BBRY) and Cisco (CSCO) have entered into a long-term patent cross-licensing agreement covering their respective products and technologies.

  • As part of the cross-licensing agreement, BlackBerry will receive a license fee from Cisco. 
  • Specific terms of the deal are confidential. 
  • BlackBerry and Cisco have a long history of technical cooperation and intend to further collaborate under this agreement.

7:31 am Imprimis Pharmaceuticals acquires the rights to novel proprietary sedation and anesthesia compounds (IMMY) : Co announced that it has acquired the rights to novel proprietary sedation and analgesia/anesthesia formulations that, once prescribed and dispensed for an individual patient, are administered sublingually to block pain and sedate patients undergoing ocular and other surgical procedures.The company expects that these new compounded formulations for conscious sedation may be available for prescription and dispensing sometime during the fall of this year.

7:30 am Wave Systems signs a one-year software maintenance renewal agreement, for ~$150k with a global professional services firm (WAVX) : Co has signed a one-year software maintenance renewal agreement for ~ $150,000 to use Wave's TPM management software capabilities to secure their endpoint devices.

7:30 am Primoris Services announces industrial award valued over $200 mln (PRIM) : Co announced a new award for a California power plant valued in excess of $200 mln. The new contract was secured by the Industrial division of ARB, Inc., a Primoris subsidiary and part of the West Construction Services segment. Work is scheduled to commence in the third quarter of 2015 and to be complete in the fourth quarter of 2017. The award is from a major independent power producer for a 500MW natural gas-fired simple cycle power plant north of San Diego, CA.

7:30 am BIND Therapeutics: FDA authorizes clinical trial with AstraZeneca's (AZN) Aurora B kinase inhibitor (BIND) :

  • Co announces that the FDA has authorized the use of AstraZeneca's (AZN) Accurin AZD2811 in clinical trials under an investigational new drug application. BIND is collaborating with AstraZeneca on the development of AZD2811, and the companies anticipate enrolling patients in a phase 1 clinical trial with AZD2811 in the fourth quarter of this year.
  • BIND will earn a $4 million milestone payment upon first dosing a patient in a phase 1 clinical trial with AZD2811. Preclinical data on AZD2811 were presented at the 2015 American Association of Cancer Research annual meeting in April 2015, including data demonstrating promising in vivo and in vitro tumor growth inhibition as monotherapy in models of diffuse large B-cell lymphomas and small cell lung cancer. 
  • Additional data showed that AZD2811 delivers prolonged exposure to active drug while having the potential to adapt the dosing regimen, potentially achieving an improved therapeutic index. In addition, using mass spectrometric imaging, AZD2811 was shown to accumulate in tumors and achieve prolonged tumor drug exposure.
  • IND and AstraZeneca expect to enroll the first patient in a phase 1 clinical trial with AZD2811 in the fourth quarter of 2015. 

7:11 am Darden Restaurants beats by $0.15, reports revs in-line; guides FY16 EPS above consensus (DRI) :

  • Reports Q4 (May) earnings of $1.08 per share, excluding non-recurring items, $0.15 better than the Capital IQ Consensus of $0.93; revenues rose 13.8% year/year to $1.88 bln vs the $1.86 bln consensus. 
    • Same-restaurant sales increased 3.8% for the quarter vs. ests just below +3%
    • Comps +3.4% for Olive Garden; +3.2% for Yard House; +5.2% for LongHorn Steakhouse; +3.1% for Seasons 52; +4.4% for The Capital Grille; +1.7% for Bahama Breeze; +5.2% for Eddie V's
  • Co issues upside guidance for FY16, sees EPS of $3.05-3.20, excluding non-recurring items, vs. $2.87 Capital IQ Consensus. 
    • Same-restaurant sales growth, on a 52-week basis, of 2.0% to 2.5%; guidance does not include the impact of any fiscal 2016 real estate transactions and related cash and capital structure activities (see 7:00 comment).

7:05 am BlackBerry misses by $0.01, misses on revs; reaffirms guidance (BBRY) : Reports Q1 (May) adj. loss of $0.05 per share, $0.01 worse than the Capital IQ Consensus of ($0.04); revenues fell 31.9% year/year to $658 mln vs the $680.21 mln consensus. 

  • The revenue breakdown for the quarter was ~40% for hardware, 38% for services and 21% for software and technology licensing.
  • Software and technology licensing revenue +150% YoY to $137 mln
  • BlackBerry had 2,600 enterprise customer wins in the quarter. ~45% of the licenses associated with these deals are cross-platform. 
  • Co recognized hardware revenue on ~1.1 million BlackBerry smartphones with an ASP of $240. 
The company continues to anticipate positive free cash flow. The company continues to target sustainable non-GAAP profitability some time in fiscal 2016.

7:02 am Transglobe Energy announces a quarterly update; reporting Q2 production avg. of 15K bopd, ~+9% above guidance (TGA) :

  • Co reports Production to date of approximately 15,000 Bopd during the 2nd quarter is approximately 9% ahead of guidance of 13,800 Bopd. The increase is primarily due to well performance and improved up time performance in both West Gharib and West Bakr. 
  • Co also completed the sale of 544,752 barrels of entitlement oil to a third party buyer for net proceeds of $25.8 million. 
  • Co has collected $43.5 mm year-to-date in outstanding receivables from EGPC. 
  • Block S-1 in Yemen remains shut in due to continued political and security instability. Yemen Block S-1 production was not included in the 2015 plan. 
  • Production is estimated to be in the 13,800 Bopd range for the 3rd quarter due to natural well declines and potential increased well servicing during the summer months.

7:01 am Calithera Biosciences selects CB-1158 as the clinical candidate for its immuno-oncology program targeting inhibition of arginase, a critical immunosuppressive enzyme secreted by myeloid-derived suppressor cells in tumors (CALA) : Calithera anticipates submitting an Investigational New Drug application to the FDA for its first in class oral arginase inhibitor for the treatment of cancer near the end of the first quarter of 2016.

7:01 am Westmoreland Coal says its Board has approved the purchase of the San Juan Mine in Farmington, New Mexico from BHP Billiton (BHP); enters into a new long-term coal supply agreement with Public Service of New Mexico (PNM) (WLB) : The acquisition, which is expected to close on December 31, 2015, contemplates a coal supply agreement through June 30, 2022. Westmoreland intends to operate the San Juan Mine through the termination of the coal supply agreement and is hopeful an extension of the coal supply agreement can be reached that will extend the life of the mine far past the 2022 time frame.

7:01 am Canadian Solar completes sale of its 10 MW LunarLight solar power plant to BluEarth Renewables (CSIQ) : The facility is valued at ~$53 million and uses Canadian Solar's CS6X-300/305P modules made in Canada.

7:00 am Horizon Pharma: USPTO issues an additional notice of allowance with claims covering Ravicti oral liquid (HZNP) :

  • Co announces that it has received from the United States Patent and Trademark Office a Notice of Allowance for U.S. patent application number 13/775,000, entitled "Methods of Therapeutic Monitoring of Nitrogen Scavenging Drugs" that covers Horizon's U.S. approved product Ravicti Oral Liquid.

7:00 am Darden Restaurants announces Board approval for a strategic separation, of a portion of the co's real estate assets (DRI) : Co announced today that its Board of Directors approved a strategic real estate plan to pursue a separation of a portion of the Company's real estate assets.

  • The separation would be achieved through a combination of selected sale leaseback transactions and the transfer of a portion of its remaining real estate assets to a new real estate investment trust ("REIT") that will be separated by a spin-off, split-off or similar transaction. 
  • Under the plan being pursued, Darden will transfer approximately 430 of its owned restaurant properties to the REIT, with substantially all of the REIT's initial assets being leased back to Darden. 
  • In addition, the Company has been marketing selected properties for individual sale leasebacks. To date, the company has listed 75 properties, and over 30 of these properties have been sold or are under contract. 
  • After receiving proceeds from the completion of the strategic real estate plan, the Company expects to retire approximately $1 billion of its debt over time and maintain its investment grade credit profile. 
  • The Company currently expects to complete the REIT Transaction by the end of calendar 2015 Following the election of REIT status, the REIT will be required to distribute the earnings and profits allocated to it from the Company and earnings and profits generated in the taxable year ending December 31, 2015. 
    • The dividend will be paid in a combination of cash and REIT stock, which Darden expects will consist of approximately 20% cash and 80% REIT stock.

7:00 am McDermott is awarded a lump sum contract by LLOG Exploration Offshore, for services in the Gulf of Mexico (MDR) : Co has been awarded a sizeable lump sum contract by LLOG Exploration Offshore in support of LLOG's Otis development located in the Gulf of Mexico. The lump sum contract will be included in McDermott's second quarter 2015 backlog. The contract scope includes:

  • Project management
  • Engineering, fabrication and installation of a 75,000-foot insulated rigid flowline and insulated steel catenary riser (:SCR) with associated pipeline end termination
  • Pre-commissioning

6:59 am Arrhythmia Research subsidiary Micron Products, exectutes a two year extension of its $4 mln revolving line of credit, with maturity in June, 2017 (HRT) : Concurrently, the Company also closed on a new $1.0 million equipment line of credit with a maximum one-year draw period ending June 26, 2016.

  • The Revolver provides for borrowing up to 80% of eligible accounts receivable and 50% of eligible raw materials inventory. 
  • The ELOC is for six years, maturing June 26, 2021, inclusive of the maximum one-year draw period

6:56 am Juniper Pharma subsidiary Juniper Pharma Services enters into a long-term collaboration with OxSonics Limited, for OxSonics' proprietary 'sono-sensitive particles' (JNP) : Co has entered into a long-term collaboration with OxSonics Limited to support the development, scale-up, and GMP manufacturing of OxSonics' proprietary "sono-sensitive particles."

  • The collaboration will see the contract development and manufacturing organisation (:CDMO) support the Oxford-based company develop these injectable particles, which when used in conjunction with new generation ultrasound devices, can be applied to a range of therapeutic applications including an oncological drug delivery platform called "SonoTran." SonoTran is designed to enhance the delivery of anti-cancer drugs deep into and throughout solid tumours.

6:55 am Asian Markets Close: Japan's Nikkei +1.9%; Hong Kong's Hang Seng +0.9%; China's Shanghai Composite +2.2% (:SUMRX) : It was another good day for most markets in the Asia-Pacific region, which continued to draft off reports of encouraging developments surrounding a potential (and another) bailout deal for Greece. China's Shanghai Composite stole the trading show, swinging 7.3% between its low and high for the session and ending the day with a 2.2% gain.

Economic data

  • China
    • June HSBC Manufacturing PMI 49.6 (expected 49.4; prior 49.2)
  • Japan
    • June Manufacturing PMI 49.9 (expected 50.6; prior 50.9)
  • Australia
    • Q1 House Price Index +1.6% quarter-over-quarter (expected +2.3%; prior +2.0%)
    • CB Leading Index -0.3% month-over-month (expected 0.0%)
  • Singapore
    • May CPI -0.4% year-over-year (expected -0.5%; prior -0.5%)
Equity Markets
  • Japan's Nikkei increased 1.9% and finished at its highs for the day, bolstered by broad-based gains. The basic materials (+2.5%), financial (+2.2%), and technology (+2.1%) sectors were the best-performing areas. Individual standouts included Mitsui Chemicals (+7.5%), Mitsubishi Chemical Holdings (+6.4%), and Tosoh Corp (+5.7%). Sumitomo Chemical (-4.9%) and Sharp Corp (-1.8%) led a small group of losers. Out of the 225 index members, 211 ended higher, 11 finished lower, and 3 were unchanged.
  • Hong Kong's Hang Seng jumped 0.9%, helped by strength in the communications (+1.7%), energy (+1.4%), and financial (+1.0%) sectors. China Resources Power Holdings (+3.8%), China Mobile (+3.2%), and BOC Hong Kong Holdings (+3.1%) sat atop the list of winners. Link REIT (-4.3%) and China Construction Bank (-3.1%) were the only two stocks to lose more than 1.0%. Out of the 50 index members, 42 ended higher and 8 finished lower.
  • China's Shanghai Composite declined as much as 4.8% in early action, but then soared in the second half of its trading session, rallying 7.3% to end the day with a 2.2% gain. The advance followed on the heels of the flash HSBC Manufacturing PMI report for June, which was better than expected but still in contraction territory at 49.6. The utilities (+4.5%) and industrial (+4.4%) sectors were the best-performing areas in the Chinese market on Tuesday.
  • India's Sensex increased 0.3%, aided by strength in its industrial (+1.6%), communications (+1.4%), and energy (+1.1%) sectors. Out of the 30 index members, 19 ended higher and 11 finished lower.
  • Australia's S&P/ASX 200 increased 1.3%, led by strength in the health care (+2.0%), telecom services (+1.6%), and financial (+1.6%) sectors. Kathmandu Holdings (+5.6%) was the top-performing issue while Flight Centre Ltd (-13.6%) was the biggest laggard. Out of the 200 index members, 160 ended higher, 34 finished lower, and 6 were unchanged.
  • Regional advancers: South Korea +1.3%, Taiwan +0.5%, Singapore +0.7%
  • Regional decliners: Malaysia -0.3%, Indonesia -0.4%, Thailand -0.2%, Vietnam -0.2%, Philippines -0.8%
FX
  • USD/CNY -0.04% at 6.2068
  • USD/INR +0.1% at 63.601
  • USD/JPY +0.2% at 123.68

6:32 am T2 Biosystems reported results from two investigational studies of its T2 Magnetic Resonance detector (TTOO) : In both studies, T2MR demonstrated strong correlation to a current standard of care, while doing so on a single instrument suitable for point of care testing, drug development, animal studies, and biomarker discovery.

  • In the first study, T2MR detected the most clinically valuable platelet parameters to provide an assessment of platelet activity in just 20 minutes using low blood volumes (.04 ml of whole blood) while demonstrating 100 percent correlation to the current standard of care. 
  • In the second study, T2MR was shown to rapidly (clot time and fibrinogen data detected within three minutes and platelet function within 20 minutes) and accurately assess (100 percent correlation to the standard of care) potential bleeding disorders through a single multiplex analysis of global hemostasis utilizing low blood volumes (.035 ml of whole blood). In addition, T2MR generated robust signatures that led to the discovery of novel biomarkers

6:31 am Alexion Pharma completes acquisition of Synageva (GEVA), expects to launch Strensiq and Kanuma this year (ALXN) : Alexion now has eight product candidates in clinical trials for 11 indications, including SBC-103, an investigational enzyme replacement therapy in an ongoing Phase 1/2 trial for patients with mucopolysaccharidosis IIIB (MPS IIIB), a genetic and progressive rare metabolic disease. SBC-103 was granted Fast Track designation by the FDA in January 2015. Additionally, the combined preclinical pipeline includes more than 30 diverse programs across a range of therapeutic modalities, with at least four additional programs to enter the clinic in 2016.

6:28 am On the Wires (:WIRES) :

  • Cesca Therapeutics (KOOL) announced the issuance of a U.S. Patent entitled "Stem and Progenitor Cell Compositions Recovered from Bone Marrow or Cord Blood" which has claims to the compositions of stem cells recovered from bone marrow and cord blood and the respective device and methods to achieve those compositions.
  • Proposing a wage increase up front, Verizon (VZ) held its first negotiating session today with representatives of the Communications Workers of America and the International Brotherhood of Electrical Workers on contracts covering ~38,000 Verizon East Wireline Employees

6:04 am IHS beats by $0.05, beats on revs; raises FY15 guidance; approves new $500 mln share buy back (IHS) : Reports Q2 (May) earnings of $1.50 per share, $0.05 better than the Capital IQ Consensus Estimate of $1.45; revenues rose 4.1% year/year to $591.4 mln vs the $575.36 mln consensus.

  • Americas - Second quarter revenue for Americas increased $25 million, or 7%, to $402 million, and included 6% organic growth for the subscription-based business.
  • EMEA - Second quarter revenue for EMEA decreased $2 million, or 2%, to $137 million, and included 3% organic growth for the subscription-based business.
  • APAC - Second quarter revenue for APAC increased $1 million, or 1%, to $53 million, and included 4% organic growth for the subscription-based business. 
Share Repurchase Program update
IHS has completed its previously announced $100 million share repurchase program, and announced that its board of directors has approved a new program to repurchase up to $500 million of IHS Class A common stock.

Guidance:
Co raises guidance for FY15, sees EPS of $5.80-6.00 vs. $5.85 Capital IQ Consensus Estimate (vs $5.77-5.97 prior); sees FY15 revs of $2.3-2.34 bln vs. $2.28 bln Capital IQ Consensus Estimate (vs $2.27-2.31 bln prior).

6:01 am Paramount Gold Nevada issues a final metallurgical report on its Sleeper Gold Project in Nevada (PZG) : Co announced that a final report from its metallurgical consultants confirms the potential for substantially higher gold recoveries from Paramount's 100%-owned Sleeper Gold Project in Nevada.

  • The met test program addressed two main objectives: to optimize heap leach recoveries from oxide and mixed oxide-sulfide material from all the project's resource areas and to find a viable recovery process for higher grade sulfide material from the West Wood, Wood and Sleeper zones. 
    • In situ oxide material accounts for about 12 % of resource tonnes and about 11% of gold resource ounces. Mixed material represents approximately 16% of resource tonnage and 15% of gold resource ounces. Sulfide material totals around 72% of resource tonnes and 74% of gold resource ounces. 
    • For the oxide material, the most efficient recovery option was for 80% passing (P80) a 3/4 inch crush size with an overall average gold recovery of 80%. The 80% recovery average was obtained in 67 to 139 days of leaching using moderate lime consumption and moderate to high cyanide consumption. 
    • Gold recoveries for mixed material now average 77.5 % at the same P80 3/4 inch crush size. Time and reagent requirements for the mixed material were only slightly higher than for oxide.

6:01 am Egalet deploys its specialty sales force to support the promotion of Sprix nasal spray and Oxaydo tablets; promotion to begin by the end of Q3 (EGLT) :  

6:00 am Synergy Pharma initiates a second Phase 3 clinical trial of Plecanatide (SGYP) : Co announced today the initiation of the second of two pivotal phase 3 clinical trials evaluating the efficacy and safety of two different plecanatide treatment doses (3.0 mg and 6.0 mg), taken as a tablet once-a-day, in patients with irritable bowel syndrome with constipation.

  • The primary efficacy endpoint for both trials is the percentage of patients who are Overall Responders during the 12 week treatment period

5:48 am S&P futures vs fair value: +0.70. Nasdaq futures vs fair value: +4.40. :

5:48 am European Markets : FTSE...6833.48...+7.80...+0.10%.  DAX...11572.74...+112.20...+1.00%.

5:48 am Asian Markets : Nikkei...20809.42...+381.20...+1.90%.  Hang Seng...27333.46...+252.60...+0.90%.

5:02 am On The Wires (:WIRES) :

  • Arista Networks (ANET) introduced CloudVision, a network-wide approach for workload orchestration and workflow automation delivering a turnkey solution for cloud networking. 
  • Affimed N.V. (AFMD) announced today that it has established operations in the United States.

4:46 am Mechel Steel reports Q1 operating results; coking coal concentrate sales went down by 14% QoQ (MTL) : Co announces 1Q2015 operational results:

  • Mining division: coking coal concentrate sales went down by 14% as compared to the previous quarter due to a reduction in export sales. A large volume of coking coal concentrate was redirected to the domestic market as domestic prices were more attractive.
  • PCI sales went up by 5% due to the increased demand in Asia Pacific, primarily in China. Anthracite sales in 1Q2015 went down by 6% due to a decrease in supplies to CIS customers.
  • Steam coal sales went down by 18% quarter-on-quarter due to a weaker European demand
Commentary:
"The decrease of overall sales of flat and long rolls in 1Q2015 quarter-on-quarter by 1% and 6% accordingly was due to the closure of several Mechel Service Global subsidiaries in Western Europe. At the same time, Chelyabinsk Metallurgical Plant in 1Q2015 increased long rolls sales to state-run companies partially owned by the state..."

4:22 am On The Wires (:WIRES) :

  • Ericsson (ERIC) announced that it has signed a multi-year broadcast and media services deal with BT Sport to help launch three new television channels and an interactive red button service in the UK. 
  • MoneyGram (MGI) announced that it is expanding its worldwide network to Turkmenistan, reaching consumers in the country for the first time through an agreement with Garagum Bank. 
  • Toshiba Group (TOSBF) member and world leader in smart metering Landis+Gyr has won a major order to supply a megawatt-class battery energy storage system to Helen, a major energy utility operating in the capital of Finland. The BESS, the first in any Nordic country, will start operation in Helsinki in spring 2016.

3:51 am Vimicro receives $22 mln contract for the provision of SVAC-compliant video surveillance cameras and system to Jincheng Municipal Government in Shanxi Province (VIMC) :  

2:15 am On The Wires (:WIRES) :

  • First Solar (FSLR) announced that it has signed an agreement to supply its high performance photovoltaic modules to power the 200 megawatt AC second phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the United Arab Emirates. 
  • Oracle (ORCL) announced the release of four products that underscore its commitment to provide communications service providers with a fully virtualized, network function virtualization-ready solution portfolio. 
  • SunPower (SPWR) announced that its E-Series and X-Series Solar Panels manufactured at the company's facilities in France are Cradle to Cradle CertifiedTM Silver. 
  • Calypso Technology has entered into a global reseller agreement with SAP (SAP). 
  • Juniper Networks (JNPR) and Ruckus Wireless (RKUS) announced a new technology alliance to deliver open, wired and wireless networking solutions for enterprise, government and education customer segments.

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

  • Infinera (INFN) announced the expansion of the Cloud Xpress family of metro Cloud platforms. This release adds a new Cloud Xpress platform with 100 gigabit Ethernet client services in the same compact form factor along with enhanced functionality. 
  • Dassault Systmes (DASTY) announced the launch of the 3DVIA Make application to enable retailers to offer customer-personalized products without requiring a huge back-end inventory or a lengthy fulfillment process.

1:35 am Nippon Telegraph and Telephone acquires 86.7% stake in e-shelter in Germany (NTT) : The acquisition elevates the NTT Com's data center space in Europe to 92,000 square meters in nine cities, up from 19,500 square meters in four cities.

1:14 am On The Wires (:WIRES) :

  • LINBIT, a provider of Linux storage mirroring technology, announced a new solution for data replication in collaboration with Mellanox Technologies (MLNX). The technology integration provides mutual customers with the highest storage replication performance capabilities available, enabling customers to replicate more data in less time while accelerating and protecting both critical applications and data.
  • Freescale Semiconductor (FSL) introduced the world's smallest single chip module for the Internet of Things

1:10 am Alibaba and Ant Financial Services Group to invest RMB3 bln each to set up a JV aimed at capturing opportunities within China's local services market, with focus on the food and beverage segment (BABA) :  

1:07 am On The Wires (:WIRES) :

  • PolyMet Mining (PLM) has been notified that the preliminary final Environmental Impact Statement has been completed and is undergoing review by the Co-lead and Cooperating Agencies prior to publication of the final EIS. 
  • Sprott Asset Management LP, together with Sprott Physical Gold Trust (PHYS) and Sprott Physical Silver Trust (PSLV) announced the filing of notices of extension and variation in connection with the offers by Sprott Asset Management Gold Bid LP and Sprott Asset Management Silver Bid LP to acquire all of the outstanding units of Central GoldTrust  and Silver Bullion Trust, respectively, for units of Sprott Physical Gold Trust and units of Sprott Physical Silver Trust, in each case on a Net Asset Value to NAV exchange basis.

1:01 am GOL Linhas Areas Inteligentes S.A. reports domestic load factor increased 1.6 pp YoY to 77.0% (GOL) : Co announced The domestic load factor in May was 77.0%, up 1.6 p.p. year-over-year. For the first five months of 2015 and in the last 12 months (:LTM), the rate was 78.7%, an increase of 2.2 p.p. and 4.3 p.p, respectively.

  • Domestic demand in May increased by 4.3% year-over-year. From January to May 2015 and in the LTM, domestic demand rose 4.7%, and 5.4%, respectively, compared to the same periods in 2014. 
  • Domestic capacity rose 2.2% in May and 1.8% in 2015. In the LTM, supply dropped 0.4% compared to the same period of 2014. GOL reaffirms its zero growth guidance for 2015.
  • International demand in May grew 3.4%, leading to a load factor of 67.3% representing a decline of 0.7 p.p. versus May 2014. For the year, demand increased 14.1% and in the LTM, the expansion was 21.8% compared to the same periods in 2014. 
  • The number of passengers transported totaled 3.1 million in May, 16.5 million in the year to date and 40.1 million in the LTM. 

12:59 am CoBiz prices offering of $60 million of its unsecured fixed to floating rate subordinated notes due 2030 (COBZ) :  

12:57 am CTPartners Executive Search announce negotiations with DHR International regarding an acquisition of the co expired with no definitive agreement for the sale of the co having been reached (CTP) : Co announced that the exclusivity period for its negotiations with DHR International regarding an acquisition of the Company expired late last week with no definitive agreement for the sale of the Company as a whole having been reached.

  • The Company's business and financial condition have continued to deteriorate as consultant departures have continued through the second quarter of 2015. 
  • The Company has been informed that DHR is seeking to acquire certain of the Company's assets in a transaction with the Company's lenders, who have the right to acquire those assets pursuant to the underlying debt documents. DHR has indicated that it expects to employ many of the Company's consultants and employees. There is no assurance that any such transaction will be completed, and, if completed, the proceeds of such a transaction are not likely to be sufficient to satisfy all of the Company's obligations to its lenders and other creditors, and are not expected to result in any payment to the Company's shareholders. 
  • The Company expects that it would need additional funding to continue operating beyond June 30, 2015 but does not anticipate obtaining adequate funds from its current lenders or otherwise. Consequently, the Company intends to wind down its remaining operations in an orderly manner, but it may be required cease operations entirely or seek bankruptcy protection. 

12:54 am DBV Technologies confirms Phase 3 clinical trial in children expected to begin in Q4 2015 (DBVT) : Co announced the completion of its End-of-Phase II meeting with the FDA.

  • The outcome of this meeting on the clinical development plan for Viaskin Peanut is consistent with the previously announced positive opinion of the Paediatric Committee of the European Medicines Agency on Viaskin Peanut's Paediatric Investigation Plan. 
  • Based on these regulatory consultations, DBV Technologies plans to initiate a global Phase III trial with Viaskin Peanut for the treatment of peanut allergic children 4 to 11 years of age in the fourth quarter of 2015. 
  • Based on these consultations, additional development plans for Viaskin Peanut in younger and older patients will be discussed with the FDA in the second half of 2015.
Read the rest of the article at finance.yahoo.com

McEwen Mining

PRODUCER
CODE : MUX
ISIN : US58039P1075
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McEwen Mining is a gold development stage company based in Canada.

McEwen Mining produces gold, silver in Argentina and in Mexico, develops gold and silver in Mexico, and holds various exploration projects in Mexico.

Its main assets in production are MAGISTRAL MINE in Mexico and SAN JOSE ARGENTINA in Argentina, its main asset in development is EL GALLO MEXICO in Mexico and its main exploration properties are PALMARITO, GOLD PICK AND GOLD RIDGE, TONKIN PROJECT and MAGISTRAL in Mexico and LOS AZULES ARGENTINA and LIMO in Argentina.

McEwen Mining is listed in Canada, in Germany and in United States of America. Its market capitalisation is US$ 391.0 millions as of today (€ 337.1 millions).

Its stock quote reached its highest recent level on April 08, 2011 at US$ 9.87, and its lowest recent point on March 20, 2020 at US$ 0.53.

McEwen Mining has 337 054 594 shares outstanding.

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Corporate Presentations of McEwen Mining
4/16/2010El Gallo Discovery Featured in The Northern Miner
In the News and Medias of McEwen Mining
3/7/2019McEwen Mining halts payout over "much lower revenue" this qu...
1/15/2019Canada's McEwen Mining 2018 production exceeds guidance
8/27/2018Rob McEwen and McEwen Mining acquire 18.8% of Canadian miner
5/30/2013Vicious Gold Moves Insignificant for Long-Run
7/21/2010The Mysterious 380-Tonne Gold Swap and Genius Gold Bugs
3/23/2010Bob Prechter Reveals the Most Dangerous Gold & Silver Myths
8/26/2009U.S. Dollar Versus Gold, the Flea on a Bull's Back
5/28/2009US Gold Corporation completes over-allotment of common stock
Financings of McEwen Mining
2/14/2011Announces Common Stock Offering
Nominations of McEwen Mining
7/27/2011Appoints William Faust Chief Operating Officer
3/31/2008Appoints Perry Ing as Chief Financial Officer
Financials of McEwen Mining
7/27/2017NOTICE OF Q2 2017 FINANCIAL RESULTS CONFERENCE CALL=C2=A0
5/5/2016Q1 2016 OPERATING & FINANCIAL RESULTS
5/4/2016Q1 2016 FINANCIAL RESULTS CONFERENCE CALL=C2=A0
11/5/2015Q3 2015 OPERATING & FINANCIAL RESULTS
8/6/2015REPORTS 2015 SECOND QUARTER OPERATING & FINANCIAL RESULTS
Project news of McEwen Mining
4/19/2017Reports Q1 2017 Production Results
7/25/2016REPORTS Q2 PRODUCTION RESULTS
5/2/2016(El Gallo Mexico)BUYS ATTRACTIVE EXPLORATION TARGET NEAR EL GALLO MINE=C2=A0
4/19/2016REPORTS Q1 PRODUCTION RESULTS ROYALTY ACQUISITION
8/12/2015Fresnillo denies reports 300 kg of gold stolen from Mexico m...
4/21/20157:31 am McEwen Mining announces drill results that are expec...
4/7/2015McEwen Mining says robbers stole 7,000 ozs of gold from Mexi...
2/20/2014El Gallo 1 Mine Expansion Nears Completion
5/29/2012Attention US Gold Canadian Acquisition Corporation Exchangea...
3/26/2012Canadian Acquisition Corporation Announces Redemption of All...
1/4/2012(El Gallo Mexico)Provides El Gallo Complex Construction & Exploration Update
10/25/2011(El Gallo Mexico)El Gallo Drilling Intersects Impressive Silver Mineralizatio...
8/31/2011(El Gallo Mexico)to Begin Phase 1 Development at El Gallo Project in Mexico
8/11/2011(El Gallo Mexico)oration: El Gallo Infill Drill Results & High Grade Minerali...
6/29/2011(El Gallo Mexico) Drilling Around El Gallo Continues to Build on the Open Pit...
5/31/2011(Limo)Nevada Exploration Update-New Encouraging Results at Limo & ...
4/26/2011(El Gallo Mexico)Encouraging Drill Results Continuefrom El Gallo & Surroundin...
3/30/2011(El Gallo Mexico)El Gallo Continues to Expand East & South
3/13/2011(El Gallo Mexico)El Gallo Extended in Multiple Directions
8/16/2010(El Gallo Mexico) El Gallo Drilling Expan
7/27/2010(El Gallo Mexico)Continues to Grow Regional Drilling Encounters Early Suc
6/23/2010(El Gallo Mexico)El Gallo Expanded at Depth & to the West
6/9/2010(El Gallo Mexico)El Gallo Drilling Continues to Deliver Impressive Results
5/10/2010(Palmarito)Regional Drilling in Mexico Returns 213=2E9 gpt Silver Over ...
5/3/2010(El Gallo Mexico)El Gallo: Drilling 350 Meters Away From Kn
4/6/2010(El Gallo Mexico)El Gallo Continues to Grow Rapidly More Thick Intercepts & G...
3/24/2010(El Gallo Mexico)Significant Grades & Widths Continue at US Gold's El Gallo S...
3/1/2010(El Gallo Mexico)El Gallo: Thick Intersections of Good Grade Continue
2/11/2010(El Gallo Mexico) El Gallo Best Drill Results to Date
1/28/2010(El Gallo Mexico)El Gallo Exploration Off to Excellent Start in 2010
9/9/2009Nevada Cortez Trend Drilling Intersects New Zone
7/15/2009(Limo)Boosts Resources with Limo Project Estimate (Nevada, USA)
7/7/2009(El Gallo Mexico)Continues to Expand 7.9 opt Silver Over 179 Feet
6/11/2009(El Gallo Mexico)Exploration News Release: El Gallo Drilling Continues to Ret...
3/2/2009(El Gallo Mexico)El Gallo Delivers Exceptional High-Grade Core Drill Results ...
2/12/2009(El Gallo Mexico)El Gallo Drill Results Continue to Shine; Initial Four Core ...
2/9/2009(El Gallo Mexico)El Gallo Continues to Grow, Delivering More High-Grade Silve...
1/6/2009El Gallo: Two New High-Grade Areas Discovered
12/17/2008Intersects Impressive High-Grade
12/4/2008(Gold Pick And Gold Ridge)Adds Gold Resources in Nevada
11/26/2008(Magistral)El Gallo Returns Good Results: 43=2E6 optSilver & 0=2E45 opt...
11/19/2008(Magistral)Hits Significant Intercepts in Mexico
11/5/2008(Magistral) Gold & Silver Mineralization Expands at Two Sites in Mexico
9/25/2008(Magistral)Drilling in the Magistral District Returns 23=2E7 Opt Silver...
9/17/2008(Magistral)New Discovery for US Gold in Magistral District
8/6/2008(Magistral)oration: Drill Results Continueto Shine in Mexico's Magistra...
5/20/2008(Tonkin) Tonkin Resource Estimate Increases to 1.76 Million Oz Gold
5/9/2008(Magistral)Provides Mexico & Nevada Exploration Update
2/21/2008(Magistral)Mexico Delivering Positive Results Magistral Mine Exploratio...
1/23/2008(Magistral)Mexico Regional Exploration Update: Ea =?ISO-8859-1?Q?rly=20...
Corporate news of McEwen Mining
8/10/2017TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
7/25/2016McEwen Mining Reports Q2 Production Results, Cash and Bullio...
7/14/2016Coverage Initiated on Select Gold Stocks
6/16/2016McEwen Mining Inc. Announces Change of Security Position in ...
6/15/2016Market Signals Coverage MeetMe and McEwen Mining Hit 52 week...
2/2/2016McEwen Mining Regains Compliance With NYSE Listing Standards
2/2/20167:01 am McEwen Mining has regained compliance with the NYSE'...
1/30/2016Information Purposes Only: NV Gold Reaches Agreement With Mc...
1/27/2016Evaluating Variations in Equity Market Trading - Complementa...
1/13/2016McEwen Mining Reports Record Production in 2015, Q4 Producti...
1/4/2016McEwen Mining Announces Management Appointment – Colin Suthe...
1/4/201610:15 am McEwen Mining appoints Colin Sutherland as Presiden...
1/4/2016Gold Stocks under Review -- McEwen Mining, Harmony Gold Mini...
12/29/2015Edited Transcript of MUX earnings conference call or present...
12/15/2015McEwen Mining New Financial Management Appointments
11/6/2015McEwen Mining Appoints Interim CFO
11/6/20159:55 am McEwen Mining appoints Rob McEwen as Interim Chief F...
11/5/2015McEwen posts 3Q profit
11/5/2015McEwen Mining Q3 2015 Operating & Financial Results
10/27/20156:31 am McEwen Mining reports Q3 production, showing 43,390 ...
10/21/2015McEwen Mining Announces Positive Feasibility Study for Gold ...
10/15/2015McEwen Mining (MUX) Jumps: Stock Adds 10.2% in Session
10/1/2015McEwen Mining Announces Management Change
10/1/2015McEwen Mining Announces Stock Repurchase Program
10/1/20154:49 pm McEwen Mining announces 15 mln share stock repurchas...
9/9/2015McEwen Mining Increases Production Guidance for 2015
8/27/2015Edited Transcript of MUX earnings conference call or present...
8/5/2015McEwen Mining Reports 2015 Second Quarter Operating & Financ...
7/22/2015Edited Transcript of MUX earnings conference call or present...
7/16/2015McEwen Mining Receives Insurance Proceeds
7/15/2015McEwen Mining Announces Record Quarterly Production at El Ga...
7/5/20154:32 pm McEwen Mining confirms that it has fallen below the ...
6/23/2015McEwen Mining Inc.: Production Update
6/23/20159:34 am McEwen Mining announces that production at the El Ga...
4/22/2015Global Demand Means the World's Most Important Base Metal Ma...
4/21/2015London Metal Exchange Copper Inventory Sees On-Warrant Stock...
4/21/2015McEwen Mining Announces Exploration Update for El Gallo 1, M...
4/16/2015McEwen Mining Announces Q1 2015 Production Results; Full Yea...
4/13/2015Statement by Rob McEwen- Cartel Confusion: Clarification of ...
4/10/2015Mining co. in Mexico has 'good relationship' with cartels
4/7/2015Armed Robbers Steal $8.5 Million of Gold From McEwen Mexico ...
4/7/2015McEwen Mining Reports Armed Robbery at El Gallo 1 Mine
4/7/20155:06 pm McEwen Mining reports armed robbery at El Gallo 1 mi...
3/20/2015BHP Billiton Boosts Growth on Higher Yield, Runs Risks - Ana...
3/10/2015McEwen Mining 2014 Operating & Financial Results
3/9/2015McEwen reports 4Q loss
3/9/2015McEwen Mining 2014 Operating & Financial Results
3/9/2015Announcement: Mcewen Mining Q4 & Full-Year 2014 Conference C...
3/9/2015Announcement: Mcewen Mining Q4 & Full-Year 2014 Conference C...
2/24/2015BHP Billiton 1H15 Results Weak, Down Y/Y on Headwinds - Anal...
2/13/2015Rio Posts Weak 2014 Results, Falls Y/Y on Market Headwinds -...
1/15/2015McEwen Mining Reports Record Production in 2014
1/15/2015McEwen Mining Reports Record Production in 2014
1/2/2015Rob McEwen, Chairman & Chief Owner Exercises Stock Options i...
12/22/2014Rob McEwen, Chairman & Chief Owner Exercises Stock Options i...
1/20/2012and Minera Andes Shareholders Vote to Approve Business Combi...
1/14/2012Responds to Settlement Offer Regardi
12/21/2011Rob McEwen Letter to Shareholders of US Gold and Minera Ande...
11/28/2011Announces Positive Preliminary Feasibi =?ISO-8859-1?Q?lity=2...
9/23/2011and Minera Andes Enter Into Arrangement Agreement to Form Mc...
5/18/2011Exploration Continues to Deliver Growth at El Gallo & Surrou...
7/19/2010Options Listed on Chicago Board of Options Exchange
6/7/2010Annual General Meeting of Shareholders
5/25/2010El Gallo MetallurgicalResults Demonstrate Excellent Silver R...
5/18/2010El Gallo Drilling Expands Silver Mineralization 100 Meters t...
4/26/2010El Gallo Continues to Impress
4/16/2010Announces Positive Preliminary Economi =?ISO-8859-1?Q?c=20As...
4/1/2010Announces 26% Increase in Measured and Indicated Resources a...
10/14/2009Nevada Delivers Good Drill Results
9/15/2009Added to the S&P/TSX Global Gold Index & S&P/TSX Global Mini...
8/5/2009Impressive Results Continue at El Gallo in Three Areas
6/10/2009Rob McEwen Invites Investors to US Gold's =?ISO-8859-1?Q?=20...
5/31/2009in New York City
5/26/2009Announces the Closing of Over-Allotment of Common Stock
5/19/2009Announces the Closing of Its Public Offering of Common Stock
12/3/2008Luncheon Dec 17, 2008
11/21/2008Dow Jones Article: US Gold
8/25/2008Exploration News Release
8/6/2008Outlines Nevada Exploration Program
7/7/2008Mexico Exploration Update
6/24/2008Mexico Exploration Update
5/14/20082008 US Gold AGM
3/25/2008Mexico Exploration Update
11/20/2007 Ann Carpenter has stepped down as President
10/5/2007Nevada Exploration Update
7/3/2007Completes Acquisitions of Target Companies!
7/4/2007& Lexam CEO Rob McEwen Appointed to the Order of Canada; Can...
6/12/2007Open Letter to US Gold Shareholders
6/12/2007Intriguing Grab Sample: Metal Value $2,200 Per Ton(i)
6/5/2007Announces Annual General Meeting
4/13/2007Canadian Acquisition Corporation TSX Listing Approved
4/10/2007Encouraging Results; Best Grade: 0.73 Opt Over 5 Ft.
3/13/2007 Reminds Shareholders of White Knight Resources, Nevada Paci...
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NYSE (MUX)TORONTO (MUX.T)
1.16-3.33%
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US$ 1.16
10/15 16:10 -0.040
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Year l/h YTD var.
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Volume 1 month var.
3,255,892 4.50%
24hGold TrendPower© : 24
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Explores for Copper - Gold - Silver
 
 
 
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TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.16-3.33%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 1.03-1.90%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.04+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 4.27+1.67%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 10.78+4.86%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.44+6.02%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.18+2.78%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 3.04-2.88%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 40.10+0.80%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :