11:52 am CA Tech announces a settlement and update on its AppDynamics litigation (CA) : CA Tech stated: "CA Technologies is pleased with the settlement of these cases, which includes substantial licensing payments from AppDynamics to CA. As we said at the outset, CA will take all steps necessary to protect its intellectual property investments as well as the best interests of all its stakeholders, including our employees, customers and shareholders."

11:51 am European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

• UK's FTSE:+0.8%
• Germany's DAX:+1.7%
• France's CAC:+0.9%
• Spain's IBEX:+0.2%
• Portugal's PSI:+0.7%
• Italy's MIB Index:+1.3%
• Irish Ovrl Index:+0.0%
• Greece ASE General Index: -0.1%

11:48 am Gold Resource announces that is has been successful in its defense regarding securities class action and shareholder derivative lawsuits (GORO) : Co announced that The U.S. District Court for the District of Colorado dismissed the securities class action lawsuit against the Company with prejudice on July 15, 2014.The plaintiffs, Nitesh Banker, Scott Cantor, Robert D. Rhodes and their attorneys, appealed the District Court's ruling to the Tenth Circuit Court of Appeals and on January 16, 2015, the Court of Appeals issued a ruling upholding the District Court's dismissal with prejudice.

• The deadlines for plaintiffs to file for rehearing or further appeal the Tenth Circuit's decision expired in mid-April. With respect to the shareholders' derivative lawsuit, the parties agreed to stay the proceedings pending the outcome of the motion to dismiss and appeal in the securities class action lawsuit. 
• In light of the Tenth Circuit's ruling to uphold dismissal with prejudice, the parties in the shareholder derivative case agreed to voluntarily dismiss the proceedings, which was granted by the District Court on February 25, 2015. Both lawsuits are now closed in favor of Gold Resource Corporation.
  

11:43 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (81) outpacing new lows (29) (:SCANX) : Stocks that traded to 52 week highs: ABG, ADPT, AFSI, AMOT, ATRA, BLMT, BSX, BX, CHFC, CHKE, CHKP, CHL, CKSW, COTY, DST, EGRX, EIGI, ELY, ERI, ESCA, ESLT, EVM, FAC, HAS, HCKT, HF, HOFT, HRC, INCY, INS, INTL, IPCM, ISCA, JBSS, JTPY, KMI, KNL, LAD, LEA, LVNTA, LYTS, MTG, MTRN, MTU, MYCC, NAP, NECB, NFLX, NHTB, NLS, NRZ, OEC, ORBK, PETS, PFO, QTM, RDN, SBBX, SCI, SEDG, SEIC, SHAK, SIAL, SLAB, SMED, SOCB, STON, STRZA, TASR, TMH, TMK, TRK, TSRO, TTHI, TUMI, UA, UWN, VIMC, VLRS, VWR, WBC

Stocks that traded to 52 week lows: ACTG, AMPE, ARTW, BPTH, CHEK, CVSL, DSS, FNJN, FNRG, FREE, FTEK, ICON, KORS, LXP, MNI, PERF, PFL, PFMT, RELL, RGSE, RLJE, RLOC, SJT, SPDC, UCTT, VRS, VTNR, WPG, ZEUS

ETFs that traded to 52 week highs: none

ETFs that traded to 52 week lows: EGPT

11:33 am Scientific Games announces an exchange offer for its 6.625% and 10% senior subordinated notes due 2021 and 2022 (SGMS) :

• Co has commenced an offer to exchange up to $350.0 million in aggregate principal amount of 6.625% Senior Subordinated Notes due 2021 for an equal aggregate principal amount of its outstanding 6.625% Senior Subordinated Notes due 2021, and related guarantees, which were issued in a private placement. 
• Co also commenced an offer of exchange for up to $2.2 bln of 10.000% Senior Unsecured Notes due 2022 for an equal aggregate principal amount of its outstanding 10.000% Senior Unsecured Notes due 2022, and related guarantees, which were issued in a private placement. 
• The sole purpose of the Exchange Offer is to fulfill the Company's obligations with respect to the registration of the Old Private Notes. Pursuant to registration rights agreements entered into by the Company in connection with the sale of the Old Private Notes
  

11:23 am CTPartners Executive Search announces that their quarterly Client Satisfaction Survey results showed an overall client satisfaction rate of 91.47%, up 5.25% from 86.22% for the same quarter in 2014 (CTP) : From January 1, 2015 to March 31, 2015 CTPartners closed 373 searches with 37% of them closing in less than 101 days.

11:03 am Cisco Systems extends to new session high of 28.57 (CSCO) : Its high from last week and its five week high from later March are at 28.63/28.69. 

11:02 am Con-way announces it purchased 635 new, twin-screw tractors; as an implementation of the co's replacement cycle for maintaining its fleet (CNW) : The tractors will each be equipped with an Automated Manual Transmission. This purchase of 575 new Kenworth T680s and 60 new Freightliner Cascadias, which are being delivered into the fleet in a phased deployment starting this month through November, represents an increase from 23 percent to 48 percent in the number of trucks outfitted with AMTs

11:00 am Staples announces agreement to acquire Accolade Promotion Group; financial terms not disclosed (SPLS) : APG designs and delivers promotional merchandise for a number of well-known brands

10:54 am Currency Commentary: Range Bound (:SUMRX) :

• The Dollar Index has been testing the 98 level for resistance but has failed to break above the level. The dollar had a strong morning but its failure to break above key levels, coupled with dovish commentary from NY Fed President William Dudley have led to the dollar rolling over. There is no economic data of note today. 
• The euro is trying to work its way off the 1.0720 level. The single currency has been under early selling pressure as markets are tentative ahead of key Eurogroup meetings at the end of the week. April 24 has come in as a key date for the euro as Greek Finance Minister Varoufakis has said that is the date when he would like to finalize a deal with European Union members. But there has been plenty of skepticism around any deal being reached in time. This will be a overhang for the euro all week.
• The pound made a run towards the 1.50 level, hitting 1.4984 before running out of steam. Cable has no fallen back and is testing sessions lows at the 1.49 area. 1.50 looks like it will remain a cap in place until markets get further clarity from the May 7 elections.
• The yen has been sliding lower this morning, sliding from 118.50 back to the 119.30 area. A weak Tankan survey has helped provide some selling pressure. But the overall move in the yen continues to see a consolidating pattern in the 118-120 area (BONDX, FOREX).
  

10:32 am Microsoft notches new session high of 42.33 (MSFT) : The push to a new high leaves it back near it 50 sma/ema and last week's recovery high between 42.37 and 42.48.

10:27 am Furmanite: Mustang Capital issues open letter to stockholders urging them to elect its slate of four independent candidates to the Board of Directors (FRM) :  

10:06 am U.S. Oil Fund ETF sets new session high of 20.10, last week's peak and its three month high from Feb are at 20.22/20.29 (USO) :  

10:04 am Minor new highs for S&P +17 and Nasdaq Comp +40 -- Dow +215 has not yet confirmed the new high (:TECHX) : Relative sector strength in recent trade has been noted in Oil Service OIH, Energy XLE, Crude Oil USO, Steel SLX, Casino, Technology XLK, Telecom IYZ.

10:03 am Permian Basin Royalty Tr. declared April cash distribution to holders of its units of beneficial interest of $0.023781 per unit, up from $0.021577 per unit (PBT) :  

10:01 am Nymox Pharma Announces long term clinical trial results from the Company's NX-1207 Phase 2 prostate cancer study (NYMX) : The new results demonstrate statistically significant better outcomes at up to 2.8 years for NX-1207 treated patients compared to controls. Trial participants included 146 patients with low grade localized prostate cancer at 44 U.S. investigational sites.

9:51 am IBM extends firmer start toward last week's high (IBM) : The stock has extended solid opening gains to 164.75 leaving is slightly under last week's peak at 164.96.  Note that its March peak and the top its five month range from late Oct are at 165.36/165.59.  Note that IBM is reporting earnings after the close today. 

9:39 am Strong opening for market averages -- Dow +172. S&P +13, Nasdaq Comp +21 (:TECHX) : Early relative strength has been noted in: Utility XLU, Semi SMH, Trucking, Casino, Industrial XLI, Paper, Rail, Staples XLP, Transports IYT, Steel SLX, Broker IAI, Software IGV.

9:38 am Opening Market Summary: Dow Jones Paces Opening Advance (:WRAPX) : The major averages have climbed out of the gate with the Dow Jones Industrial Average (+1.1%) showing relative strength in the early going. For its part, the S&P 500 (+0.7%) follows a little behind with all ten sectors holding early gains while the benchmark index has overtaken its 50-day moving average (2,085).

The top-weighted technology sector (+0.9%) is among the early leaders while most other cyclical groups hold slimmer gains. The industrial sector (+0.9%) trades in-line with technology while consumer discretionary (+0.7%) and financials (+0.6%) trade a bit behind.

Elsewhere, Treasuries have returned into the red after making a brief appearance in the green. The 10-yr yield is higher by a basis point at 1.87%.

9:35 am Chipotle Mexican Grill gaps up and extends above last week's highs (CMG) : The next area of note above is at its March peak/near three month trading range high at 692.43 (session high 688.55).

9:32 am Nobilis Health has entered into an agreement to acquire Victory Healthcare Houston Hospital (HLTH) : Nobilis will acquire a controlling stake in the hospital for cash consideration of $1.5 million dollars and the assumption of capital leases totaling approximately $2.4 million dollars. In addition, Nobilis will extend credit to the hospital and assume certain payment obligations to the hospital from Victory Healthcare.

9:32 am Thinly traded pink sheet DIADEXUS announced the appointment of Lori Rafield, Ph.D. as chief executive officer of the Company on a permanent basis, effective immediately (DDXS) :  

9:31 am Ameresco announces that its Ameresco Canada subsidiary agreed to a new 20-year solar-energy partnership with London District Catholic School Board and Structural Tech Corporation (AMRC) : Ameresco will install 1.025 megawatts in rooftop photovoltaic panels at 13 schools in an effort to enhance the board's and the community's commitment to use green energy technology. The installation of these panels is expected to begin in the summer of 2015, and to be completed by early 2016. An annual lease payment will be made to LDCSB for 20 years, providing a revenue stream to the board.

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

• Dana Holding Corporation (DAN) announced that it will develop a new series of Spicer axles for rough terrain cranes and an axle specially designed for forklift trucks and other medium-sized material-handling equipment. Dana is developing and testing a series of three heavy-duty steer Spicer drive axles for rough terrain cranes with lift capacities from 30 to 90 tonnes (33 to 100 tons), as well as a Spicer 37R FLT rigid planetary axle specially designed for forklift trucks and container handlers with lift capacities from 10 to 16 tonnes (11 to 18 tons).
• Buffalo Wild Wings (BWLD) announced the launch of the B-Dubs Fast Break Lunch program. Available weekdays between 11 a.m. and 2 p.m, the Fast Break menu features a "Pick 2" option and "Hand Spun Wings" option that offers an array of food choices
• Turkcell (TKC) announced that it has tested enriched VoLTE in its 4G testing area in Istanbul. In a separate test, Turkcell achieved 450 Mbps LTE-A data speeds on a single device with carrier aggregation technology. As Turkcell continues to constantly carry its technology forward in the run up to the 4G roll out, Turkish Government has announced the exact date for the spectrum auction. Accordingly, Turkey's Information and Communication Technologies Agency is due to hold the auction on May 26th, 2015, with operators required to have launched 4G services by the end of 2015
• inContact (SAAS) announces that an international health services company selected inContact to support its 200-agent workforce for both inbound and outbound customer service across multiple contact center locations.
• RLHC (RLH) announced the company has signed franchise license agreements on hotels located in Sacramento and Spokane. Both properties are expected to convert by June.
• Rexahn Pharmaceuticals (RNN) today presents preclinical data on RX-3117 at the 2015 American Association for Cancer Research (:AACR) Annual Meeting in Philadelphia. The present study demonstrates a correlation between the expression and enzymatic activity of UCK2 (the enzyme responsible for activating/phosphorylating RX-3117) and the ability of RX-3117 to inhibit the growth of various human cancer cells.
• WisdomTree Investments (WETF) announced the appointment of Alisa Maute as Head of U.S. Sales. Maute joined WisdomTree in June of 2008, spending five years as a Regional Director in the Company's National Full Service broker/dealer channel and the past two years as a Regional Director covering the Registered Investment Advisor channel in the Midwest.
• Element Payment Services, a Vantiv company (VNTV), announced its TransForm P2PE Encompass solution has received the PCI Security Standards Council's (SSC.V) P2PE solution validation
• Kraft Foods Group (KRFT), maker of Kraft Macaroni & Cheese announced that starting in January 2016, Original Kraft Macaroni & Cheese in the U.S. will no longer be made with artificial preservatives or synthetic colors.

9:26 am Interpublic makes strategic investment in Samba TV; terms not disclosed (IPG) : The holding company's IPG Media Lab initiated the relationship with Samba TV and has overseen the integration of its data and tools with IPG Mediabrands' existing platforms to help drive business and client-focused products. Terms of the minority investment by IPG in the venture-backed Samba TV were not disclosed.

9:25 am Northwest Bancshares reports Q1 (Mar) EPS of $0.18 vs $0.17 Capital IQ Consensus Estimate (NWBI) :  

9:25 am Xueda Education announces its Board has received a preliminary non-binding proposal letter from Insight Investment Co., Ltd. indicating its interest to acquire all of the Company's outstanding shares, at $3.38 per ADS (XUE) : The Proposal Letter did not state any information pertaining to Insight Investment's current ownership of the Company's ordinary shares or ADSs. The Company is not aware through public filings or other documents that Insight Investment may beneficially own 5% or more of the Company's ordinary shares. In addition, no members of the Board are affiliates of Insight Investment.The Proposal Letter is brief and did not include any financing plan for the proposed transaction.

• The Company cautions its shareholders and others considering trading its securities that the Board has just received the Proposal Letter and has not had an opportunity to carefully review and evaluate the Proposal yet, nor has the Board made any decision with respect to the Company's response to the Proposal.
  

9:20 am Cellular Biomedicine has engaged Huntsworth Health to build a global KOL advocacy campaign for CBMG's ReJoinTM human adipose-derived mesenchymal progenitor cell clinical trials for the treatment of Knee Osteoarthritis (CBMG) : "We look forward to broadening our communications and building support as we expect to release full year Phase IIb clinical data on ReJoinTM in the fourth quarter of 2015."

9:16 am Synopsys has signed a definitive agreement to acquire Codenomicon; terms not dsiclosed (SNPS) : The co notes that Codenomicon Oy is a respected name in the global software security world with a focus on software embedded in chips and devices

9:16 am Ball Corp announces plans to build a beverage can plant in Monterrey, Mexico (BLL) : The location will start up in the first half of 2016 and produce multiple can sizes. The majority of the capacity is contracted under a long-term agreement.

9:15 am Quad/Graphics announces it will continue to be the primary printer for Hearst Magazines' through 2020, under a new agreement valued at more than $500 million (QUAD) :  

9:09 am S&P futures vs fair value: +12.50. Nasdaq futures vs fair value: +21.10. (:WRAPX) : The stock market is on track for a higher open with S&P 500 futures trading 13 points above fair value. Index futures have spent the entire night in positive territory, hitting their highs after the People's Bank of China cut its reserve requirement ratio to 18.5% from 19.5% in hopes of keeping liquidity flowing through the system.

Similar to U.S. futures, markets across Europe have rebounded from Friday's weakness with Germany's DAX (+1.6%) pacing the advance.

Domestically, the week has started on a quiet note with just a few quarterly reports, but the reporting pace will increase as week goes on. Morgan Stanley (MS 37.55, +0.80) and Halliburton (HAL 47.25, +0.36) are both on course to open higher after reporting bottom-line beats this morning.

Treasuries are little changed with the 10-yr yield at 1.87%.

9:04 am Syneron Medical announces that the PicoWay picosecond laser received FDA clearance for the treatment of pigmented lesions (ELOS) : The PicoWay picosecond laser previously received FDA clearance for the removal of tattoos in November 2014 and was launched in the U.S. late in the fourth quarter 2014. The launch of PicoWay in Canada will begin during the second quarter 2015, building on the launch of the product in the U.S. and other international markets during the fourth quarter 2014. The Company sells its products in Canada through its direct North American sales organization.

9:02 am Pharmacyclics announces that Ibrutinib data presented at the American Association for Cancer Research Annual Meeting suggest it may be an effective therapeutic option for pancreatic ductal adenocarcinoma (PCYC) : Early, pre-clinical data show ibrutinib was associated with potent anti-fibrotic activity and longer survival in the treated mice. PDAC is a type of pancreatic cancer that is typically characterized by a fibro-inflammatory reaction, which makes PDAC a difficult disease to treat with current therapies. The mice treated with ibrutinib also experienced longer survival, particularly when the therapy was used in combination with gemcitabine These data were also published in the April 15th edition of Cancer Research.

9:01 am Novogen, its subsidiary, CanTx, Inc, and Yale University disclose pre-clinical data on experimental anti-cancer drug, Cantrixil, justifying the optimism in the ability of this drug candidate to significantly improve the survival outlook for patients with ovarian cancer (NVGN) : Researchers at the Yale Medical School have established clinically relevant in vitro and in vivo models of chemo-resistant ovarian cancer, providing a tool that drug developers increasingly are accessing to screen prospective drugs against. In this highly aggressive model, intra-peritoneal Cantrixil treatment effectively prevented tumor recurrence by 95%. In vitro studies have been reported previously. TRXE-002 initially was identified as having potent activity against epithelial ovarian cancer (EOC) stem cells, inducing cell death (apoptosis) in a library of patient-derived EOC stem cells

• In the model of primary disease, Cantrixil administered intraperitoneally as a monotherapy inhibited tumor growth in a dose-dependent manner, significantly reducing terminal tumor burden by >90% (dosage 100 mg/kg; p
• More importantly, Cantrixil performed equally well in the far more stringent model of recurrent disease. In this model, following an initial 12-day treatment period with paclitaxel, tumors failed to recur (

9:01 am McCormick announces reorganization in EMEA; reaffirms FY15 adj. EPS (MKC) : Co announced additional reorganization plans in the Europe, Middle East and Africa (:EMEA) region to enhance organization efficiency and streamline processes. The EMEA region has contributed significantly to the company's cost reduction and productivity improvement goals. During 2015, additional projects have been identified to further enhance organization efficiency and streamline processes in this region to support its competitiveness and long-term growth. These initiatives center on actions intended to reduce fixed costs and improve processes across selling, general and administrative activities, as well as continue to drive simplification across the business and supply chain.

Co reaffirms FY15 adj. EPS $3.44-3.51 vs. $3.49 Consensus; adj. operating income +6-7%.

The company expects to record ~$25 million of charges related to these actions, with ~$24 million of cash expenses and ~$1 million of non-cash fixed asset impairment expenses.

9:01 am Bank of Hawaii beats by $0.07 (BOH) : Reports Q1 (Mar) earnings of $0.97 per share, $0.07 better than the Capital IQ Consensus Estimate of $0.90. 

• Loan and lease balances increased to $7.2 billion at March 31, 2015, up 4.1% from December 31, 2014 and 15.6 percent compared with March 31, 2014. 
• Deposit growth remained strong during the quarter, increasing 2.7% from December 31, 2014 and 7.8% from March 31, 2014.
  

9:01 am Bazaarvoice names Sara Spivey as Chief Marketing Officer (BV) : Co announces that Sara Spivey has joined the company as Chief Marketing Officer. Spivey is responsible for overall leadership of Bazaarvoice's global marketing programs, including demand generation, solutions marketing, brand strategy, and communications. Her position is effective immediately.

9:01 am MGM Resorts: Land and Buildings sends letter to shareholders; says its four director nominees have the experience and fresh perspectives needed to exert effective board stewardship and evaluate strategic options including a REIT (MGM) : Letter says "We believe the net asset value of MGM is at least $33 per share, indicating an ~50% further upside to intrinsic value above and beyond the 13% rise in the stock since our announcement of Board nominations and proposal to enhance shareholder value on March 17, 20152. We have utilized our extensive experience in evaluating real estate, lodging and gaming companies to arrive at what we believe is the intrinsic value of the company and there is broad agreement within the investment community based on our conversations that MGM is meaningfully undervalued.... Whether it is the proposal Land and Buildings has outlined, or a variation thereof, we believe it is important for the Land and Buildings nominees to be in the boardroom of MGM to ensure that all value creating ideas are evaluated."

9:01 am Harris announces $74 mln in orders from an international customer to deliver Falcon tactical radios (HRS) :  

9:00 am St. Jude Medical Announces intent to acquire Spinal Modulation, Inc. (STJ) : St. Jude Medical will make a payment of approx $175 mln upon closing with additional payments due upon FDA approval of the Axium system and achievement of certain revenue targets. Excluding acquisition-related expenses, STJ estimates that this acquisition will be approx $0.05 dilutive to adjusted consolidated EPS for the remainder of 2015. St. Jude Medical will provide an update to its adjusted 2015 EPS guidance on its Q1 earnings call scheduled for April 22.

9:00 am Seattle Genetics: FDA accepts supplemental BLA and grants priority review for Adcetris (SGEN) : Co announces that the FDA has accepted for filing a supplemental Biologics License Application (:BLA) for ADCETRIS (brentuximab vedotin) in the AETHERA setting for the post-transplant consolidation treatment of Hodgkin lymphoma (HL) patients at high risk of relapse or progression. The FDA granted Priority Review for the application and the PDUFA target action date is August 18, 2015. The submission of the supplemental BLA is based on positive results from a phase 3 clinical trial called AETHERA that was designed to determine if 16 cycles of ADCETRIS as consolidation therapy immediately following an autologous stem cell transplant (:ASCT) could extend progression-free survival (PFS) in HL patients at high risk of relapse or progression.

8:53 am Partner Comms announces that the Ministry of Communications approved the network sharing agreement, that the Company has entered into with HOT Mobile (PTNR) : As of this date, the NSA is the first and only network sharing agreement in Israel to receive the approval of the Commissioner and the MOC.

8:52 am S&P futures vs fair value: +12.20. Nasdaq futures vs fair value: +22.70. (:WRAPX) : The S&P 500 futures trade 12 points above fair value.

Asian-Pacific markets were mostly lower on Monday, following in the footsteps of Wall Street's weak outing on Friday and the news after Friday's close that Chinese securities regulators were implementing steps to curb speculative trading activity. Monday's headlines were dominated, however, by the news that the People's Bank of China cut the reserve requirement ratio for all banks by a larger-than-expected 100 basis points to 18.50%.

• In economic data: 
  • Japan's Tertiary Industry Activity Index +0.3% month-over-month (expected -0.6%; prior 0.7%) while April Reuters Tankan Index fell to 12 from 16 
  • South Korea's March PPI -0.1% month-over-month (prior 0.1%); -3.7% year-over-year (consensus -1.4%; last -3.6%) 
  • New Zealand's Q1 CPI -0.3% month-over-month (consensus -0.2%; prior -0.2%); +0.1% year-over-year (expected 0.2%; last 0.8%) 

------

• Japan's Nikkei declined 0.1%, dragged down by a weak showing from the financial sector (-0.9%). Sumco Corp (-3.0%), Mitsubishi Estate Co (-2.8%), Takashimaya Co (-2.7%), TOTO Ltd (-2.6%), and Tokyu Fudosan Holdings (-2.6%) topped the list of individual decliners. Okuma Corp (+5.1%) paced the winners. Out of the 225 index members, 63 ended higher, 158 finished lower, and 4 were unchanged. 
• Hong Kong's Hang Seng declined 2.0%, feeling the pinch of Friday's decision by Chinese regulators to curb speculative trading activity and the weakness on Wall Street. Losses were led by the energy (-3.9%), basic materials (-3.0%), consumer cyclical (-2.4%), and financial (-2.2%) sectors. Kunlun Energy Co (-7.1%), PetroChina (-6.1%), and Lenovo Group (4.4%) led declining issues. China Unicom Hong Kong (+2.3%) was the only issue to gain more than 1.0%. Out of the 50 index members, 5 ended higher, 42 finished lower, and 3 were unchanged. 
• China's Shanghai Composite declined 1.6% in a roller-coaster session which featured the news that the People's Bank of China slashed its reserve requirement ratio by a larger-than-expected 100 basis points to 18.50%. That news followed on the heels of Friday's announcement that Chinese securities regulators were taking steps to clamp down on speculative trading activity. The technology (-4.6%), financial (-4.3%), and consumer non-cyclical (-2.6%) sectors were notable pockets of weakness in the mainland market on Monday. 

Major European indices trade mostly higher with Germany's DAX (+1.5%) trading well ahead of its peers. European investors are maintaining their focus on Greece with the Eurogroup meeting scheduled to take place in Riga on Friday.

• Economic data was limited: 
  • Germany's March PPI +0.1% month-over-month (expected 0.2%; prior 0.1%); -1.7% year-over-year (consensus -1.6%; last -2.1%) 
  • Spain's Trade Deficit narrowed to EUR2.04 billion from EUR2.60 billion (expected deficit of EUR2.00 billion) 

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• France's CAC trades higher by 0.4% with consumer names in the lead. Hotel operators Accor and Essilor International lead with gains close to 1.5% apiece. Industrials and utilities lag with Electricite de France down 1.1% and Veolia Environnement off 0.6%. 
• UK's FTSE trades up 0.5% amid strength in mining names. Anglo American, Antofagasta, BHP Billiton, and Rio Tinto are up between 1.2% and 2.7%. Select consumer names underperform with EasyJet, G4S, and Persimmon down between 0.3% and 1.2%. 
• Germany's DAX has spiked 1.5% with all but two names trading in the green. Growth-sensitive BASF, ThyssenKrupp, and Deutsche Bank are up between 1.3% and 2.8% while Volkswagen lags, down 1.4%. 
• Spain's IBEX is lower by 0.4% with several banks under pressure. Bankinter, BBVA, and Santander are down between 0.5% and 1.2%.

8:50 am Whiting Petroleum to submit to a vote of stockholders at its 2016 annual meeting an amendment to its by-laws to implement proxy access and an amendment to its certificate of incorporation to implement declassification of its Board (WLL) : The amendments to the by-laws and certificate of incorporation will become effective if approved by stockholders at the 2016 annual meeting. The amendment to the by-laws would specify an eligibility threshold of holding 3% or more of outstanding common stock for at least 3 years. It would also provide that an individual stockholder or group of up to 25 stockholders who meets the eligibility threshold, and who complies with specified procedural and disclosure requirements, could include in Whiting's proxy materials stockholder-nominated director candidates. The number of stockholder-nominated director candidates may not exceed 25% percent of the directors then serving.

• The amendment to the certificate of incorporation to declassify the board of directors would provide that directors would be elected to one-year terms as their existing three-year terms expire, beginning with the class of directors to be elected at Whiting's 2017 annual meeting.
  

8:46 am SAGE Therapeutics announces that its first patient was treated under the Phase 3 expanded access protocol to evaluate SAGE-547 (SAGE) : announced completion of treatment for the first patient enrolled in its now initiated open-label expanded access protocol, designated Study 302. Study 302 is designed to offer SAGE-547 to patients affected by super-refractory status epilepticus (:SRSE) and to evaluate the safety of SAGE-547 in patients with SRSE.

• SAGE plans to begin enrollment of the planned STATUS Trial by mid-year, following submission and review by the FDA of the final clinical trial protocol and updated chemistry, manufacturing and controls information. 
• In addition, the Phase 1/2 clinical trial of SAGE-547 in patients with SRSE has completed enrollment, and SAGE plans to report final clinical data at the Antiepileptic Drug and Device Trials XIII Conference, taking place May 13-15.
  

8:46 am Ampio Pharma announces that the multiple injection STRIDE study AP008 did not reach its primary endpoint against the saline control even though there was a statistically significant reduction in pain compared to baseline for patients receiving Ampion (AMPE) : Co announces that the multiple injection STRIDE study AP008 did not reach its primary endpoint against the saline control even though there was a statistically significant reduction in pain compared to baseline for patients receiving Ampion. This pain reduction with Ampion was consistent across all sites and with our previously reported studies. Ampion is safe and well tolerated.

• Based on current projections, Co  has sufficient funds to continue operations through 2016, complete additional trials if necessary, manufacture Ampion for the BLA filing and complete the activities necessary to bring our product to market approval. The company's previously issued financial guidance for 2015 remains unchanged.
  

8:45 am Mentor Graphics announces that the United States Court of Appeals for the Federal Circuit has denied a motion by Synopsys (SNPS) for a stay, pending appeal, of the injunction issued by an Oregon federal district court (MENT) : The injunction, issued March 12, prohibits Synopsys, Inc. from making, using, selling, offering to sell, licensing or leasing in the United States any emulators or software that incorporate Mentor Graphics' patented emulation technology covered by U.S. Patent No. 6,240,376. The injunction also prohibits Synopsys from importing into the United States any emulators that incorporate Mentor's patented technology, and from selling or leasing infringing emulators outside of the United States for use by persons inside the United States. The court concluded that Eve-USA Inc./Synopsys "have not established they are entitled to a stay of the injunction".

8:45 am Pharmacyclics: Imbruvica longer-term follow-up data demonstrate durable responses, including complete responses, in patients with chronic lymphocytic leukemia (PCYC) :

• Co announced that Imbruvica follow-up data in treatment-naive and relapsed/refractory patients with chronic lymphocytic leukemia or small lymphocytic lymphoma demonstrated that, with up to 45 months of follow-up, the 94 patients who received IMBRUVICA 420 mg experienced a 91% overall response rate (ORR.V) and 14% of all patients achieved a complete response.
• The median treatment duration was 25 months (range, 0-45 months) for all patients (30 months TN; 22 months R/R). The median duration of response (:DOR) and progression-free survival have not yet been reached.  The majority of patients entered the study with baseline cytopenias. Early and sustained improvement in hemoglobin and platelet counts were observed.

8:45 am Coty announces the appointment of Elio Leoni Sceti as CEO, effective July 1, 2015 (COTY) : Bart Becht, Coty's current interim CEO and Chairman, will remain Chairman following the transition.

8:43 am Shiloh Industries announces plans to open a new aluminum casting plant in Nantong, China in a joint venture with Suzhou Sanji Foundry Equipment (SHLO) : The new aluminum casting plant is a greenfield project with an investment of ~$30 million. Along with high pressure die casting and squeeze casting capabilities ranging from 500 to 3,000 tons, the plant capabilities will also include heating treating and precision machining operations.

8:36 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: FARO -14.8%, RCL -6.9%

Other news: ADXS -5% (files for $200 mln offering of common stock), NBG -4.2% (on going speculation on Greece default), CRIS -3.2% (files for ~17.2 mln share common stock offering by selling shareholders), YNDX -2.6% (Barron's profiles cautious view), TRCO -0.9% (announces a secondary offering of 9.24 mln shares of common stock by selling stockholder Oaktree Capital Management)

Analyst comments: BBVA -1.6% (removed from Conviction Buy list at Goldman), CMRE -1.3% (downgraded to Underperform from Neutral at BofA/Merrill), LULU -0.7% (downgraded to Underperform from Outperform at Credit Agricole), KORS -0.7% (downgraded to Neutral from Buy at Mizuho; tgt $70 from $80), CL -0.6% (downgraded to Sell from Neutral at Goldman), SYT -0.6% (downgraded to Hold at Kepler), MDVN -0.5% (downgraded to Neutral from Outperform at Credit Suisse)

8:35 am Timberline Resources announces positive drill results from its recently completed drill program at the Eureka project in Nevada (TLR) : Recent drilling tested on-strike, offset, and down-dip extensions of gold mineralization that was previously mined at the Windfall area and also confirmed a newly recognized zone of higher grade gold mineralization at depth associated with the Company's existing National Instrument 43-101 resource estimate at Lookout Mountain. Highlights include 80 feet @ 0.09 ounces of gold per ton (opt) (24.4 meters (m) @ 3.04 grams of gold per tonne (g/t)), including 20 feet @ 0.26 opt (6.1 m @ 8.79 g/t), in BHWF-40 at Windfall

8:34 am European Markets Update: CAC +0.4%, FTSE +0.6%, DAX +1.5%, IBEX -0.3% (:SUMRX) : Major European indices trade mostly higher with Germany's DAX (+1.5%) trading well ahead of its peers. European investors are maintaining their focus on Greece with the Eurogroup meeting scheduled to take place in Riga on Friday.

• Economic data was limited: 
• Germany's March PPI +0.1% month-over-month (expected 0.2%; prior 0.1%); -1.7% year-over-year (consensus -1.6%; last -2.1%) 
• Spain's Trade Deficit narrowed to EUR2.04 billion from EUR2.60 billion (expected deficit of EUR2.00 billion) 

------

• France's CAC trades higher by 0.4% with consumer names in the lead. Hotel operators Accor and Essilor International lead with gains close to 1.5% apiece. Industrials and utilities lag with Electricite de France down 1.1% and Veolia Environnement off 0.6%. 
• UK's FTSE trades up 0.6% amid strength in mining names. Anglo American, Antofagasta, BHP Billiton, and Rio Tinto are up between 1.2% and 2.7%. Select consumer names underperform with EasyJet, G4S, and Persimmon down between 0.3% and 1.2%. 
• Germany's DAX has spiked 1.5% with all but two names trading in the green. Growth-sensitive BASF, ThyssenKrupp, and Deutsche Bank are up between 1.3% and 2.8% while Volkswagen lags, down 1.4%. 
• Spain's IBEX is lower by 0.3% with several banks under pressure. Bankinter, BBVA, and Santander are down between 0.5% and 1.2%.
  

8:34 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: HAS +8.2%, SVA +6.4%, CHKP +2.4%, MS +2%, LII +1.6%, HAL +0.4%

M&A news: PLD +2.6% (signs definitive agreements to acquire $5.9 bln portfolio from KTR Capital Partners; also rpted earnings)

Select metals/mining stocks trading higher: GFI +3%, FSM +2.9%, HMY +2.6%, RIO +0.8%, BHP +0.5%

Other news: GENE +25.8% (announces additional breast health centres to begin offering BREVAGenplus),PVCT +11.1% (Provectus Pharma and Pfizer (PFE) announce receipt of Patent Allowance for Use of PV-10 for the treatment of cancer),HQCL +8.8% (announces over 1.5 GW solar module supply agreement to power NextEra Energy Resources' (NEE) continued solar investments in the U.S.),CYCC +6.9% (announces pre-clinical data from its Second-Generation CDK2/9 inhibitor),ONCY +6.4% (announces that a series of poster presentations by its research collaborators will be made at the 2015 AACR),VPCO +6.3% (files for ~6.2 mln share common stock offering by selling shareholders),ROVI +6.3% (announces it has renewed its patent license and interactive program guide product agreement with Charter Communications),NBS +4.6% (announces the expansion of manufacturing services under an existing Services Agreement between its subsidiary and Kite Pharma (KITE)),FNRG +4.5% (founder and majority shareholder Richard St-Julien voluntarily resigned as the Company's Executive Chairman of the Board, and from all other positions he held with the company; also issues business update; divested its interest in Trans Pacific Energy and its TCS business),CLDX +3.7% (announces preclinical results that further support varlilumab's expansion into combination studies with PD-1 inhibitors),URI +2.1% (Barron's profiles positive view),TASR +2.1% (announces that the Ontario Provincial Police has purchased 1000 Taser X2 smart weapons),PBR +1.7% (announced the concluded negotiations on various loan contracts),HZNP +1.6% (announces proposed private offering of senior notes and intention to enter into new term loan facility),ABBV +1.5% (extends exchange offer to acquire Pharmacyclics (PCYC) to May 1, 2015), CHRS +1.4% (obtained positive results of a repeat Phase 1 pharmacokinetic bioequivalence study for CHS-0214, its etanercept biosimilar candidate),MAT +1.4% (in sympathy with HAS earnings),ING +1.3% (still checking),COST +1.2% (announces reauthorization of $4 bln stock repurchase program; increases quarterly dividend 12.7% to $0.40 from $0.355 per share),MRK +1% (announces submission of supplemental Biologics License Application to FDA for KEYTRUDA in advanced non-small cell lung cancer),MNTA +0.9% (presents new data from studies conducted as part of the ANDA submission for once daily Glatopa)

Analyst comments: ADRO +9% (initiated with a Buy at ROTH Capital; tgt $74),SEDG +3.4% (initiated with a Buy at Goldman; initiated with a Buy at Deutsche Bank),CLLS +3.1% (initiated with a Overweight at Piper Jaffray),CUBE +2.9% (upgraded to Buy from Hold at Evercore ISI),MTG +2.7% (upgraded to Neutral from Underperform at Credit Suisse),BCRX +2.7% (upgraded to Neutral from Underperform at BofA/Merrill),SPLK +1.7% (initiated with a Buy at Citigroup),JBHT +1.7% (upgraded to Buy from Underperform at BofA/Merrill),CPLP +1.7% (upgraded to Buy from Neutral at BofA/Merrill),GIS +1.6% (upgraded to Neutral from Sell at Goldman),HSBC +1.5% (added to Conviction Buy List at Goldman),FB +1.1% (favorable commentary at Oppenheimer),UN +0.5% (upgraded to Outperform from Sector Perform at RBC Capital Mkts),JNJ +0.5% (added to Short-Term Buy List at Deutsche Bank)

8:33 am Tandem Diabetes Care has commenced shipments of t:slim Pumps featuring enhanced software (TNDM) : The updated software, based on customer and healthcare provider feedback, includes an expansion of the reverse correction function, the ability to enter a manual bolus directly in the suggested bolus window, off-pump cartridge filling, and other features to enhance convenience and flexibility.

8:33 am MGM Resorts releases investor presentation; Evercore engaged as advisor to assist in its continuous process of actively evaluating all strategic initiatives including a potential REIT conversion (MGM) :

• In its investor presentation, MGM outlines the Company's strong track record and details the reasons why it believes Land & Buildings' proxy fight is "unwarranted, ill-conceived and not in the best interests of shareholders". 
• The prentation also highlights that "Land & Buildings' nominees are tied to a proposal that has a narrow, short-term focus and makes numerous financial, structural and tax assumptions that appear unsupported or are factually incorrect, which calls into question their credibility...  As a part of its regular and ongoing Board strategic review process, MGM has and will continue to actively evaluate strategic options for the Company that drive sustainable value for shareholders."
  

8:32 am Capstone Turbine received order for a C1000 microturbine to upgrade five commercial buildings at 'Centro Administrativo La Alpujarra' in Medelln, Colombia; expected to be commissioned in October 2015 (CPST) :

8:31 am Voya Financial reports that Charles Nelson has joined the co as CEO of the co's Retirement unit, effective May 1, 2015 (VOYA) : Nelson was president of Retirement Services for Great-West through September 2014 and most recently led the legacy retirement business of Great-West in Empower Retirement, a business unit of Great-West Life & Annuity Insurance Company

8:31 am Groupon agrees to sell a 42% stake in Ticket Monster to KKR for $360 mln; adjusts guidance; announces new $300 mln share repurchase program (GRPN) :

• Groupon to sell a controlling 46 percent fully diluted stake in Ticket Monster (:TMON), its South Korean e-commerce business, for $360 million, to a partnership formed by leading global investment firm KKR and Hong Kong-based Anchor Equity Partners.
• At closing, Groupon will retain a fully diluted 41 percent stake in TMON. The gain on the sale is expected to be between $195 million and $205 million on a pre-tax basis and will be recorded at the close of the transaction. 
• TMON will be treated as a discontinued operation for purposes of financial reporting, effective in the first quarter of 2015. Accordingly, Groupon has recast its guidance for the first quarter and full year of 2015. 
• Reflecting the TMON sale, as well as changes in foreign exchange rates, Groupon now expects first quarter 2015 revenue between $720 and $770 mln from $790-840 mln vs. $822 mln consensus, adjusted EBITDA between $58 and $78 million and non-GAAP earnings per share (from continuing operations) between $0.01 and $0.03 from $0.00-0.02. 
• For the full year, Groupon continues to expect adjusted EBITDA of greater than $315 million. Groupon will report results for its 2015 first quarter on May 5, 2015. 
• The company also announced its Board of Directors has approved a new $300 million share repurchase program, subject to the closing of the TMON sale. The authorization includes the flexibility for accelerated repurchases and purchases over time in the open market in accordance with our current practice. The new plan is expected to commence with the closing of the TMON sale and will run through August of 2017

8:31 am Bristol-Myers announces positive results from a Phase II trial, evaluating the Opdivo +Yervoy regimen versus Yervoy alone in patients with previously untreated advanced melanoma (BMY) : Co announces positive results from a Phase II trial, evaluating the Opdivo (nivolumab)+Yervoy (ipilimumab) regimen versus Yervoy alone in patients with previously untreated advanced melanoma.

• Opdivo+Yervoy regimen achieves objective response rate of 61%, including a 22% complete response rate, in previously untreated, advanced melanoma patients with BRAF wild-type mutation status
  
• Opdivo+Yervoy regimen decreased risk of melanoma progression or death compared to Yervoy alone by 60%, based upon hazard ratio of 0.4; median progression-free survival for the regimen not reached with a minimum follow-up of 11 months
  
• Safety profile of the Opdivo+Yervoy regimen from this trial was consistent with previously-reported studies
  

8:31 am Rosetta Genomics announces data published in Leukemia Research; study demonstrates ability of Rosetta's microRNA platform to distinguish between poor and favorable prognosis in diffuse large B-Cell Lymphoma (ROSG) :

• The study compared microRNA expression between patients with diffuse large B-cell lymphoma (:DLBCL) who had a poor prognosis with those who had a favorable prognosis.
• In the poor prognosis group, hsa-miR-17-5p, hsa-miR-19b-3p, hsa-miR-20a-5p and hsa-miR-106a-5p were found to be up-regulated, while hsa-miR-150-5p, hsa-miR-342-3p, hsa-miR-181a-5p and hsa-miR-140-3p were found to be down-regulated, compared with the good prognosis group. 
• "Our data are in agreement with previous findings showing that miR signature is predictive of prognosis for patients with DLBCL, although with different miRs achieving statistical significance,"

8:30 am Zayo Group amends, extends and upsizes revolving credit facility; The Facility's availability has been increased from $250 million to $450 million (ZAYO) : Zayo Group Holdings (ZAYO) and international provider of Bandwidth Infrastructure services, announced that it has amended, extended and increased its existing revolving credit facility . The Facility's availability has been increased from $250 million to $450 million. The Facility's maturity was initially extended by 18 months from July 2017 to January 2019. The amendment also includes provisions allowing a further extension to April 2020, subject to certain conditions. In addition to the above modifications, various covenants and limitations have also been amended, reflecting Zayo's growth in recent years and market conditions.

8:30 am Bio-Rad Labs announces that is has granted Beckman Coulter exclusive distribution rights for access to its HIV and Hepatitis C assays (BIO) : Co announced that Bio-Rad is extending its agreement with Beckman Coulter and has named the company exclusive global distributor of Bio-Rad's Access HIV combo assay and the Access hepatitis C virus (:HCV) assay in select geographies. The 10-year exclusive distribution rights agreement is part of an extension of the manufacturing and supply agreement between the companies for immunodiagnostic testing for blood virus and infectious disease, which began nearly 20 years ago.

8:26 am S&P futures vs fair value: +11.60. Nasdaq futures vs fair value: +20.10. (:WRAPX) : U.S. equity futures continue holding pre-market gains amid upbeat action overseas. Meanwhile, the Dollar Index (97.99, +0.47) has ticked up to a fresh high for the day not long ago. The Index is now up 0.5% for the day with the greenback adding 0.8% against the euro (1.0723).  

The bulk of the early dollar strength has come versus the euro while the pound (-0.3%) and yen (-0.1%) display slimmer losses.

On a related note, U.S. Treasuries have moved to new lows in recent action, pushing the 10-yr yield up to 1.88% (+2 bps).

8:24 am Myers Industries announced that ISS and Glass, Lewis & Co. proxy advisors have both recommended that shareholders vote FOR six of its directors, and one GAMCO nominee (MYE) : Co stated: "Each firm recommended a different GAMCO nominee. These recommendations essentially disenfranchise shareholders because it only allows them to vote for seven of the nine nominees, a result the Company does not support. GAMCO's press release of last week regarding these voting recommendations was misleading to our shareholders because it did not explain that only one GAMCO nominee was recommended. As a result, the Company recommends that shareholders vote FOR the election of ALL of the Company's Board of Directors nominees on the WHITE proxy card at the 2015 Annual Meeting of Shareholders. The Company also recommends that shareholders do NOT vote using the blue dissident proxy card."

8:24 am Check Point Software and and FireEye (FEYE) announce new partnership to share threat intelligence (CHKP) :

• Co announced a partnership to share threat intelligence to protect customers from modern advanced attacks. As part of this cooperation, Check Point's ThreatCloud, Threat Prevention solutions and the FireEye NX platform will share the latest threat intelligence.
  

8:17 am eFuture has completed a private placement sale of 798,000 ordinary shares to its executive management for $3.2 million (or $4.0345 per share) in cash on April 13, 2015 (EFUT) : The transaction was authorized and approved by a special independent committee consisting solely of eFuture independent directors based upon the current fair market value of the Company's shares, and supported by an independent financial valuation. The net proceeds from the sale will be used for general business operation.

8:15 am Halozyme Therapeutics presents new preclinical data on pancreatic cancer Study 202 at the American Association for Cancer Research Annual Meeting (HALO) : In an oral presentation at the AACR meeting titled "Hyaluronan (HA) Depletion Increases Tumor Accessibility of T cell and Therapeutic PD-L1 Monoclonal Antibody in HAhigh Tumors," findings in an animal model of non-small-cell lung cancer included:

•  Tumors with high levels of HA -- a structural carbohydrate that accumulates in the areas surrounding cancer cells --form a natural HA-rich barrier that restricted T-cell access to tumor cells; 
• Halozyme's investigational new drug, PEGPH20, depletes HA and increases T-cells access to tumor cells in an animal models
• HA removal by PEGPH20 enhanced anti-PD-1 or anti-PD-L1 dependent tumor-cell killing in cell based assays 
• HA depletion by PEGPH20 increased the access of T cell and anti-human PD-L1antibody in HA-high xenograft tumors, suggesting that PEGPH20 may have the potential to enhance the efficacy of immune checkpoint inhibitors in human HA-high tumors 
• The new preclinical data  demonstrates increased efficacy when a range of different cancer therapeutics are administered with PEGPH20. 

Halozyme also presented findings relevant to the development of a companion diagnostic test for PEGPH20 in a poster presentation titled, "Development and Analytical Validation of a Novel Assay for Tissue Detection of Hyaluronan in the Tumor Microenvironment to Select Patients for Molecularly Targeted Pancreatic Cancer Therapies." These findings include:

• Halozyme's companion diagnostic assay and proprietary HTI-601 binding probe were sensitive, specific and met the company's acceptability criteria for the detection and measurement of HA levels in archival samples from multiple different tumors types 
• and HTI-601 may be appropriate as a companion diagnostic approach for the selection of patients with high HA levels suitable for therapy using PEGPH20. 
• The company announced on April 8 plans to proceed with a Phase 3 clinical study (Study 301) of PEGPH20 in patients with metastatic pancreatic cancer using a companion diagnostic to prospectively identify patients with high levels of HA.
  

8:09 am Knoll beats by $0.13, beats on revs (KNL) : Reports Q1 (Mar) earnings of $0.36 per share, $0.13 better than the Capital IQ Consensus Estimate of $0.23; revenues rose 16.1% year/year to $266.5 mln vs the $252.37 mln consensus. 

• "Each of our segments kicked off 2015 by delivering year-over-year growth and margin expansion."
  

8:07 am MediWound announces initiation of the DETECT U.S. Phase 3 clinical study with NexoBrid to treat patients with deep partial thickness and full thickness thermal burns (MDWD) : The DETECT study is a prospective, controlled, multicenter, multinational, assessor blinded Phase 3 study in 175 patients randomized to either NexoBrid, Standard-Of-Care (SOC.V) or Gel Vehicle (3:3:1), with 12- and 24-months follow-up. The study is expected to involve approximately 30 burn centers. The study objective is to evaluate the efficacy and safety of NexoBrid in removing burn eschar earlier and reducing surgical needs in hospitalized patients with severe burns.

8:07 am Vanda Pharma announces that it has named Tom Gibbs as Senior Vice President, Chief Commercial Officer (VNDA) : Prior to joining Vanda, Mr. Gibbs served as Vice President of Worldwide Commercial Operations at Bristol Myers Squibb (BMY)

8:06 am Royal Caribbean beats by $0.06, misses on revs; guides Q2 EPS below consensus; lowers FY15 EPS below consensus on higher USD, fuel (RCL) : Reports Q1 (Mar) earnings of $0.20 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.14; revenues fell 3.8% year/year to $1.82 bln vs the $1.85 bln consensus.

• Net Yields on a Constant-Currency basis decreased 1.0% during the quarter. Strong close-in demand for Caribbean sailings catapulted yields over the top end of guidance and more than offset weaker onboard sales from our internationally sourced guests. Given that the majority of onboard revenue sales are priced in US Dollars, the strengthening of the Dollar reduced the purchasing power of many of our internationally sourced guests, which modestly affected their onboard spend.

Co issues downside guidance for Q2, sees EPS of ~$0.70 vs. $1.09 Capital IQ Consensus.

Co issues downside guidance for FY15, lowers EPS to $4.45-4.65 from $4.65-4.85 vs. $4.74 Capital IQ Consensus. 

• The strengthening of the US Dollar and the increase in fuel prices since our January guidance is expected to negatively impact earnings by $0.36. Constant-Currency Net Yields are expected to be in the range of up 2.5% to 4.0%, a slight reduction from previous guidance mainly due to the impact of the stronger US Dollar on the purchasing power of our non-US guests. Net Cruise Costs excluding fuel are expected to be flat to down 1% on a Constant-Currency basis, better than previous guidance of 1% or better. The fundamentals of the business as well as the company's focus on the targets associated with the Double-Double program remain on track and are unchanged. 
  

8:06 am Patriot National Acquires Vikaran Solutions for $10 mln (PN) : Co announced that it has acquired Vikaran Solutions, LLC (Vikaran), a Chicago-based technology company that provides software and services to the property and casualty industry. As part of the transaction, co has also entered into a definitive agreement to purchase all outstanding stock of MPCS Pvt. LTD, Vikaran's state-of-the-art software development center in Pune, India.

• The MPCS transaction is expected to close on or about April 30, 2015. 
• The total purchase price for both entities is approximately $10 mln 

Vikaran has estimated 2015 EBITDA to be around $322,000 and this excludes any synergies related to the transaction.

8:06 am Momenta Pharma presents new data from studies conducted as part of the ANDA submission for once daily Glatopa (MNTA) : The co notes the posters presented provide examples of a selection of methods it utilized to show the equivalence of Glatopa and once daily COPAXONE 20 mg.

• Poster #P1.144 -- Comparative Gene Expression Profiling between a Generic (Glatopa) and Brand COPAXONE (glatiramer acetate injection): Microarray analysis across the entire genome was performed in murine glatiramer acetate-responsive Th2-polarized T cells, a test system highly relevant to the biology of glatiramer acetate. Multiple statistical methods consistently demonstrated assay sensitivity as well as equivalent gene expression profiles between Glatopa and Copaxone. 
• Poster #P1.145 -- Demonstration of Equivalence between a Generic (Glatopa) and Brand COPAXONE (glatiramer acetate injection: This poster summarized Momenta's overall approach of comparison, as well as multiple examples of equivalence of starting materials and basic chemistry; equivalence of structural manufacturing process signatures; equivalence of physicochemical (structural) properties; and equivalence of biological/immunological (functional) properties. 

8:05 am IMAX And Warner Bros. Pictures extend partnership with multi-picture tentpole deal through 2020 (IMAX) : Under the agreement, IMAX will be part of a number of high-profile tentpoles from Warner Bros. Pictures, including The Man from U.N.C.L.E. , In the Heart of the Sea, Batman v Superman: Dawn of Justice, the Tarzan movie, the King Arthur movie, Suicide Squad, Geostorm, Fantastic Beasts and Where to Find Them, Jungle Book: Origins, and Godzilla 2. The deal also encompasses a number of upcoming DC tentpoles, as well as future LEGO movies, including The LEGO Movie Sequel.

8:05 am Peregrine Pharma: data presented at AACR Demonstrate the co's Bavituximab induces immune activation in PD-L1 negative NSCLC tumors (PPHM) : Co announces the presentation of data from clinical translational studies of the co's phosphatidylserine (:PS)-targeting immunotherapy bavituximab. Initial data from a pilot study of clinical translational ex vivo cultures show that bavituximab, both alone and with docetaxel, elicits evidence of a tumor-specific immune response in patients with human adenocarcinoma of the lung and that bavituximab exhibits an impact on tumors with negative PD-L1 expression. These data were presented yesterday.

8:04 am Lennox Intl misses by $0.09, misses on revs; reaffirms FY15 EPS guidance; co says its Commercial business saw the timing of specific national account equipment business shift beyond Q1 into Q2-Q4 (LII) : Reports Q1 (Mar) earnings of $0.37 per share, excluding non-recurring items, $0.09 worse than the Capital IQ Consensus Estimate of $0.46; revenues fell 1.4% year/year to $685.8 mln vs the $714.8 mln consensus. Co reaffirms guidance for FY15, sees EPS of $5.20-5.60, excluding non-recurring items, vs. $5.39 Capital IQ Consensus Estimate.

• "We continued to see strong momentum in our Residential business in [Q1], and our Refrigeration business was as expected...However, our Commercial business saw the timing of specific national account equipment business shift beyond the first quarter into the second through fourth quarters of this year. While Commercial national account business was down in the first quarter, our backlog is up double digits from a year ago, and we continue to expect solid growth for 2015 overall."

8:04 am Eli Lilly announces that the investigational medicine ixekizumab was statistically superior to placebo in the treatment of patients with active psoriatic arthritis (LLY) : Co announces that the investigational medicine ixekizumab was statistically superior to placebo in the treatment of patients with active psoriatic arthritis, as demonstrated by the proportion of patients achieving an ACR 20 response. During the 24-week, Phase 3 study, titled SPIRIT-P1, patients who were nave to biologic disease-modifying antirheumatic drugs were treated with one of two different ixekizumab dosing regimens or placebo. In both dosing regimens, ixekizumab-treated patients demonstrated significant improvements versus placebo in signs and symptoms of active PsA.

• In SPIRIT-P1, the incidence of treatment-emergent adverse events was more frequent with ixekizumab compared with placebo. The most common adverse events observed were consistent with the Phase 3 studies of ixekizumab for the treatment of moderate-to-severe plaque psoriasis. The rates of serious adverse events with ixekizumab treatment were similar to placebo. Discontinuation rates due to adverse events were similar between treatment groups.
  

8:04 am Associated Estates sends letter to shareholders in relation to 'Land and Buildings' shareholder group nominees (AEC) : Letter states:

• "By voting the WHITE proxy card, you are making the clear choice to support a Board of Directors that has and will continue to act in your best interests as a shareholder. 
• Don't allow Land and Buildings into your Company's boardroom, to become a disruptive hindrance to the progress being made and advance its own self-serving agenda. 
• We believe shareholders should question how committed Jonathan Litt and his nominees are to Associated Estates, and how engaged they would be if elected to the Board. Having spread its limited resources over numerous other active campaigns, and given the fact that Land and Buildings has offered no concrete suggestions as to how Associated Estates might further enhance value for shareholders, we believe it's clear that Jonathan Litt, Scot Sellers and Charles Elson are overcommitted and unfit to serve on the Associated Estates Board. 
• We will continue to meet with shareholders and solicit their input regarding Associated Estates in the weeks and months ahead. Your Board remains committed to listening to and being responsive to the views of all Associated Estates shareholders."
  

8:03 am CB&I has been awarded a contract by NefteGazIndustriya to provide engineering and procurement services for the Afipsky Oil Refinery in Krasnodar, Russia (CBI) : CB&I's project scope includes early detail engineering and procurement services for multiple new process units, including a 2.5 million ton per annum hydrocracker unit licensed by Chevron Lummus Global, a joint venture between CB&I and Chevron, as well as hydrogen and sulfur units licensed by CB&I and other associated units.

8:03 am NorthStar Asset Management Group announces $400 mln stock repurchase program (NSAM) :  

8:03 am ChemoCentryx announces the commencement of patient enrollment in a Phase Ib clinical trial with CCX872, in patients with non-resectable pancreatic cancer (CCXI) : CCX872 is the Company's second clinical compound which is an orally administered inhibitor of the chemokine receptor known as CCR2. The primary efficacy measurement will be progression-free survival. The Company plans to report initial data from the trial by year-end

8:03 am Actavis announces FDA approval of expanded label for BOTOX (OnabotulinumtoxinA) for the treatment of Upper Limb Spasticity in adults (ACT) : Co announced that the United States Food and Drug Administration has approved an expansion of the BOTOX (onabotulinumtoxinA) label for the treatment of adults with upper limb spasticity. The expanded label now includes the addition of two thumb muscles: flexor pollicis longus, a muscle in the forearm that flexes the thumb; and adductor pollicis, a muscle in the hand that functions to adduct the thumb; increasing the maximum dose from 360 to 400 units for the treatment of upper limb spasticity. The FDA also approved an increase to the maximum BOTOX cumulative dose within three months from 360 to 400 units in adults treated for one or more indications.

8:03 am Iao Kun Group enters into memorandum of understanding for junket operator arrangements at Crown Perth Casino & Crown Melbourne Casino (IKGH) : Co enters into a non-binding memorandum of understanding whereby it will acquire all of the profit interests of Mr. Lou Kan Kuong for acting as a junket operator for the Crown Perth Casino in Perth, Australia and for the Crown Melbourne Casino in Melbourne, Australia. The Seller, who is currently an officer of IKGH, recently entered into agreements to act as a junket operator for the Casinos on behalf of IKGH. IKGH expects to close the transaction by mid-May 2015 and to begin generating initial revenues under this agreement shortly thereafter. IKGH is purchasing the interests for nominal value.

8:02 am Pfizer: Merck KGaA (MKGAY.PK) and Pfizer announce the initiation and first patient treated in the international Phase III study designed to assess the efficacy and safety of the investigational cancer immunotherapy avelumab (PFE) : Merck KGaA (MKGAY.PK) and Pfizer (PFE) announce the initiation and first patient treated in the international Phase III study designed to assess the efficacy and safety of the investigational cancer immunotherapy avelumab , compared with docetaxel, in patients with stage IIIb/IV non-small cell lung cancer who have experienced disease progression after receiving a prior platinum-containing doublet therapy.

• The Phase III study is an open-label, multicenter, 1:1 randomized clinical trial where patients with stage IIIb/IV NSCLC will receive either avelumab or docetaxel, regardless of PD-L1 status. Approximately 650 patients will participate across 290 sites in more than 30 countries in North America, South America, Asia, Africa and Europe.
  
  
• The primary endpoint of the study is overall survival in patients with programmed death-ligand 1 positive (PD-L1+) stage IIIb/IV NSCLC who have experienced disease progression after receiving a prior platinum-containing doublet therapy. Secondary endpoints will be assessed across the entire study population regardless of PD-L1 status and include OS; overall response rate; progression-free survival; and patient-reported outcomes.
  
  
• The JAVELIN clinical trial program also includes an international Phase II trial to investigate avelumab in patients with metastatic Merkel cell carcinoma; an international Phase I trial to investigate avelumab in patients with metastatic or locally advanced solid tumors, and a Phase I trial to investigate avelumab in Japanese patients with metastatic or locally advanced solid tumors with an expansion part in Asian patients with gastric cancer.
  

8:02 am Furmanite announces corporate governance enhancements and commitments ahead of annual meeting (FRM) : Co stated: "The Furmanite Board of Directors and management team have recently held discussions with shareholders representing a majority of our shares in connection with the upcoming 2015 Annual Meeting of Shareholders scheduled to be held on April 24, 2015. We have listened to shareholder feedback, and we are adopting constructive ideas that we believe will further enhance our corporate governance and support long-term value creation.

• We will promptly initiate a Board candidate evaluation process with the assistance of a leading national search firm, to seek a highly qualified and independent director with strong industry experience relevant to Furmanite's business to be added to the Board. 
• To better align with current best practices for such agreements, the Board and our named executive officers have agreed to address in the second quarter of 2015 certain components of their change in control agreements, including, but not limited to, the excise tax gross-up and single trigger provisions. 
• The Board strongly urges shareholders to vote the GOLD proxy card FOR all of the Company's director nominees."
  

8:02 am Onconova Therapeutics submits protocol for a global pivotal study of IV rigosertib in patients with higher-risk myelodysplastic syndromes for whom prior treatment with approved hypomethylating agents has failed for regulatory review (ONTX) : Parallel submissions were made to the U.S. Food and Drug Administration (:FDA) and the European Medicines Agency (EMA.TO). The new Phase 3 randomized controlled trial of IV rigosertib derives from the findings of the ONTIME trial and is based on guidance received from previous consultations with FDA and EMA. The protocol includes a subgroup of HR-MDS patients, identified from an analysis of the ONTIME trial, who demonstrated an encouraging improvement in overall survival compared to the control arm. Based on previous guidance received from both FDA and EMA, and following discussions with key opinion leaders in the U.S. and Europe, the proposed primary endpoint for the new trial is overall survival.

8:01 am Marathon Patent Group announces results of Signal IP Markman Ruling (MARA) : Co announced that on April 17, 2015, the United States District Court Central District of California issued the claim construction order in the litigation involving its wholly-owned subsidiary Signal IP and 11 defendants. A total of 36 claim terms from a total of seven patents were disputed between Signal IP and the defendants. Co believes the net effect is that the ruling has strengthened the remaining patents and claims and served to limit several previous uncertainties associated with the litigation process.

8:01 am Celldex Therapeutics announces preclinical results that further support varlilumab's expansion into combination studies with PD-1 inhibitors (CLDX) : Co announces preclinical results that further support varlilumab's expansion into combination studies with PD-1 inhibitors.

• "These latest studies demonstrate that the combination of varlilumab and anti-PD-L1 induces a potent immune-mediated effect that results in important changes in the tumor microenvironment. Most notably, we observed that the combination strategy improved the ratio of effector T cells to regulatory T cells, which was accompanied by a reduction in the expression of PD-1 on both effector and regulatory T cells. Overall these studies, along with our clinical data where varlilumab has demonstrated anti-tumor activity with minimal toxicity in advanced, refractory disease, provide strong rationale for us to broadly explore varlilumab in combination with a number of complementary investigational and approved oncology drugs, including agents that work through the PD-1 signaling blockade."
  

8:01 am RealD and Cinemark (CNK) pact to equip 20 premium large format XD auditoriums with new RealD GS Cinema System (RLD) : RealD (RLD) and Cinemark (CNK) announce that they will work together to install RealD's new PLF focused GS Cinema System in 20 Cinemark XD auditoriums across the US and Latin America. Installations will be a mix of upgrades to existing XD auditoriums and new builds and have already begun with the Cinemark 18 + XD in Los Angeles with additional installations to be completed over approximately 24 months.

8:01 am FXCM Institutional Department announces future direction; co will continue various institutional services (FXCM) : Co announced the future direction of FXCM's Institutional business. Separate from the institutional non-core assets the firm has announced plans to sell, FXCM will continue various institutional services. FXCM's Institutional department, FXCM Pro, will focus heavily on its wholesale business, which will continue catering to retail brokers, small hedge funds and emerging market banks while FXCM's Prime of Prime business, FXCM Prime, will focus on high frequency trading customers (HFTs).

8:00 am Rovi announces it has renewed its patent license and interactive program guide product agreement with Charter Communications (ROVI) : Co announces it has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). The license renewal extends Charter's IPG patent license. Under the terms of the agreement, CHTR will also be able to license ROVI's products and services, including Rovi Search, Recommendations and Conversation Services, Rovi Metadata and Rovi Analytics.

8:00 am TetraLogic Pharmaceuticals and Merck to collaborate on the evaluation of Birinapant in combination with KEYTRUDA (pembrolizumab) in solid tumors (TLOG) : TetraLogic Pharmaceuticals Corporation (TLOG) and Merck (MRK), known as MSD outside the United States and Canada, announced they have entered into an oncology clinical study collaboration. The companies will collaborate on a Phase 1 study to evaluate the safety and efficacy of birinapant, TetraLogic's SMAC-mimetic, in combination with KEYTRUDA (pembrolizumab), Merck's anti-PD-1 therapy, in patients with relapsed or refractory solid tumors. The study is expected to begin in late 2015.

8:00 am M&T Bank misses by $0.11 (MTB) : Reports Q1 (Mar) earnings of $1.65 per share, $0.11 worse than the Capital IQ Consensus Estimate of $1.76. 

"Significantly higher mortgage banking revenues in the recent quarter helped M&T record a 6% increase in net income from the first quarter of last year. Higher origination activity led to improvement in both residential and commercial mortgage banking revenues. Credit quality remained strong during the quarter with net charge-offs continuing to be well below M&T's historical norm. We also contained expense growth while making significant investments in our overall risk management infrastructure. Capital levels continued to strengthen and during the quarter we received a non-objection to our capital plan and proposed capital actions from the Federal Reserve."

7:57 am Commodities begin the week lower, while the dollar index ticks to a new HoD (WTI oil futures roll over to June contract today) (:COMDX) :

• Note: Crude oil futures rolled over to the June contract today, from the May contract
  
• June crude oil hit a low for today at $56.40/barrel, falling well below its overnight high of $58.30/barrel
• June crude is now -1.2% at $56.63/barrel
• May nat gas just hit a new LoD at $2.57/MMBtu and is now -2.5% at $2.57/MMBtu
• Metals including gold, silver and copper are all also sitting near today's low
• June gold is currently -0.4% at $1198.60/oz, May silver is -1.1% at $16.05/oz and May copper is -1.2% at $ 2.74/lb

7:54 am S&P futures vs fair value: +10.40. Nasdaq futures vs fair value: +18.40. (:WRAPX) : U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover ten points above fair value after hitting an overnight high around the start of the European session.

Last week was relatively quiet on the economic data front and this week will be no different with the first data point of note scheduled for Wednesday (March Existing Home Sales).

The Dollar Index (97.96, +0.45) retreated last week, but a modest rebound has the Index trading higher by 0.5% this morning.

Treasuries hold slim losses with the 10-yr yield higher by a basis point at 1.87%.

In U.S. corporate news of note:

• Colgate-Palmolive (CL 68.50, -0.78): -1.1% after Goldman Sachs downgraded the stock to 'Sell' from 'Neutral.' 
• Halliburton (HAL 46.80, -0.09): -0.2% after beating bottom-line estimates. The stock was downgraded to 'Underperform' at Credit Agricole following earnings. 
• Hasbro (HAS 72.00, +6.11): +9.3% following its above-consensus results. 
• Morgan Stanley (MS 37.62, +0.87): +2.4% after beating earnings and revenue estimates. 

Reviewing overnight developments:

• Asian markets ended lower. Japan's Nikkei -0.1%, China's Shanghai Composite -1.6%, and Hong Kong's Hang Seng -2.0% 
  • In economic data: 
    • Japan's Tertiary Industry Activity Index +0.3% month-over-month (expected -0.6%; prior 0.7%) while April Reuters Tankan Index fell to 12 from 16 
    • South Korea's March PPI -0.1% month-over-month (prior 0.1%); -3.7% year-over-year (consensus -1.4%; last -3.6%) 
    • New Zealand's Q1 CPI -0.3% month-over-month (consensus -0.2%; prior -0.2%); +0.1% year-over-year (expected 0.2%; last 0.8%) 
  • In news: 
    • The People's Bank of China has cut its reserve requirement ratio to 18.5% from 19.5% in an attempt to avoid a slowdown in economic growth. This was the largest cut since November 2008.

• Major European indices trade mostly higher. France's CAC +0.4%, UK's FTSE +0.7%, and Germany's DAX +1.5%. Elsewhere, Italy's MIB +0.3% and Spain's IBEX -0.4% 
  • Economic data was limited: 
    • Germany's March PPI +0.1% month-over-month (expected 0.2%; prior 0.1%); -1.7% year-over-year (consensus -1.6%; last -2.1%) 
    • Spain's Trade Deficit narrowed to EUR2.04 billion from EUR2.60 billion (expected deficit of EUR2.00 billion) 
  • Among news of note: 
    • European investors are maintaining their focus on Greece with the Eurogroup meeting scheduled to take place in Riga on Friday.

7:52 am ForceField Energy issues business update; divested its interest in Trans Pacific Energy and its TCS business (FNRG) :

• Based on the multi-billion dollar market opportunity for LED lighting products and solutions and the relative reduced sales cycle and lower cost of capital required to drive potential growth and future profitability, the Company divested its interest in Trans Pacific Energy and its TCS business. The combination of both transactions eliminated operating losses related to these business segments, reduced share dilution and enabled the Company to focus on the LED business segment.
• Grew product and services revenues 28% YoY to ~$9.1 mln including acquisitions.
• As of March 31, 2015 the Company had approximately $2.9 million in backlog, approximately $1.5 million in signed letters of intent for streetlight projects for three municipalities in Connecticut and one in Massachusetts; as well as 500 active bids for LED lighting projects amounting to approximately $70.0 million.
  

7:50 am Science Applications announces it was awarded an IS end-user support services contract by Toyota Motor North America, worth $54 mln (SAIC) : Co was a awarded a contract to provide ongoing information systems (IS.V) end-user support services. The firm-fixed-price contract has a five-year period of performance and an estimated total contract value of $54 million. SAIC will provide support services to Toyota sales and manufacturing affiliates located in California, Kentucky, and Texas.

7:46 am Ashford Hospitality Trust: Shareholder UNITE HERE to solicit proxies for the upcoming 2015 annual meeting to vote on several proposals (AHT) : UNITE HERE notes that "Ashford has taken the unusual action of suing in state court to prevent the introduction of these proposals, alleging several proposals (such as requiring shareholder approval for a poison pill) to be beyond the power of shareholders even to make a recommendation. Due to a stay in those proceedings, shareholders will have an opportunity to vote on the shareholder proposals and on the Company's proposals by returning the GOLD proxy card being circulated by UNITE HERE. (AHT has indicated it will refuse to let the shareholder proposals be presented for a vote at the meeting, but will accept votes on all of the Company items submitted on the GOLD card)."

7:46 am Golden Minerals announces updated mineral resource estimates for its Santa Maria and Los Azules mines (AUMN) :

• The US SEC Industry Guide 7 mineralized material estimate for Santa Maria totals 86,000 tonnes at silver and gold grades of 280 grams per tonne (gpt) and 1.1 gpt, respectively. 
• The SEC Industry Guide 7 mineralized material estimate for Los Azules totals 78,000 tonnes at silver and gold grades of 155 gpt and 3.0 gpt, respectively
  

7:40 am Scynexis announces the commencement of an underwritten public offering of shares of its common stock and expects to raise gross proceeds of up to $30 mln (SCYX) :  

7:39 am TG Therapeutics announces pre-clinical data on IRAK4 compounds at the American Association for Cancer Research Annual Meeting; data demonstrated that both IRAK4 inhibitors inhibited cell proliferation and induced apoptosis as single agents in various B-cell lymphoma lines (TGTX) : Co announced that data demonstrated that both IRAK4 inhibitors not only inhibited cell proliferation but also induced apoptosis as single agents in various B-cell lymphoma cell lines, potentially elucidating the mechanism of action of and clinical rationale for IRAK4 inhibition. In addition, both compounds demonstrated marked synergy when combined with the novel targeted kinase inhibitors TGR-1202, the Company's proprietary PI3K delta inhibitor, and the BTK inhibitor, ibrutinib.

7:39 am Asian Markets Summary: Japan's Nikkei -0.1%; Hong King's Hang Seng -2.0%; China's Shanghai Composite -1.6% (:SUMRX) : Asian-Pacific markets were mostly lower on Monday, following in the footsteps of Wall Street's weak outing on Friday and the news after Friday's close that Chinese securities regulators were implementing steps to curb speculative trading activity. Monday's headlines were dominated, however, by the news that the People's Bank of China cut the reserve requirement ratio for all banks by a larger-than-expected 100 basis points to 18.50%.

Economic data

• China
• PBOC cuts reserve requirement ratio to 18.50% from 19.50%
• Japan
• April Tankan Index 12 (prior 16)
• Tertiary Industry Activity Index +0.3% month-over-month (expected -0.6%; prior +0.7%)
• South Korea
• March PPI -0.1% month-over-month (prior +0.1%); -3.7% year-over-year (expected -1.4%; prior -3.6%)
• New Zealand
• Q1 CPI -0.3% quarter-over-quarter (expected -0.2%; prior -0.2%); +0.1% year-over-year (expected +0.2%; prior +0.8%)

Equity Markets

• Japan's Nikkei declined 0.1%, dragged down by a weak showing from the financial sector (-0.9%). Sumco Corp (-3.0%), Mitsubishi Estate Co (-2.8%), Takashimaya Co (-2.7%), TOTO Ltd (-2.6%), and Tokyu Fudosan Holdings (-2.6%) topped the list of individual decliners. Okuma Corp (+5.1%) paced the winners. Out of the 225 index members, 63 ended higher, 158 finished lower, and 4 were unchanged.
• Hong Kong's Hang Seng declined 2.0%, feeling the pinch of Friday's decision by Chinese regulators to curb speculative trading activity and the weakness on Wall Street. Losses were led by the energy (-3.9%), basic materials (-3.0%), consumer cyclical (-2.4%), and financial (-2.2%) sectors. Kunlun Energy Co (-7.1%), PetroChina (-6.1%), and Lenovo Group (4.4%) led declining issues. China Unicom Hong Kong (+2.3%) was the only issue to gain more than 1.0%. Out of the 50 index members, 5 ended higher, 42 finished lower, and 3 were unchanged.
• China's Shanghai Composite declined 1.6% in a roller-coaster session which featured the news that the People's Bank of China slashed its reserve requirement ratio by a larger-than-expected 100 basis points to 18.50%. That news followed on the heels of Friday's announcement that Chinese securities regulators were taking steps to clamp down on speculative trading activity. The technology (-4.6%), financial (-4.3%), and consumer non-cyclical (-2.6%) sectors were notable pockets of weakness in the mainland market on Monday.
• India's Sensex declined 2.0% amid a steady wave of selling that began at the start of trading. The energy (-3.5%), industrial (-2.3%), and consumer cyclical (-2.2%) sectors paced the retreat. Reliance Industries (-4.5%), Hero MotoCorp (-3.9%), Mahindra & Mahindra (-3.0%), and Cipla Ltd (-3.0%) topped the list of declining issues. Only two stocks -- Sun Pharmaceutical (+0.6%) and ICICI Bank (+0.3%) -- finished Monday with a gain.
• Australia's S&P/ASX 200 declined 0.8%. Monday's losses were led by the information technology (-1.7%), industrial (-1.4%), and consumer staples (-1.4%) sectors.
• Regional advancers: South Korea +0.2%, Malaysia +0.2%
• Regional decliners: Taiwan -0.2%, Singapore -0.6%, Thailand -0.4%, Indonesia -0.2%, Philippines -1.0%, Vietnam -0.6%

FX

• USD/CNY +0.1% at 6.2019
• USD/INR +0.6% at 62.916
• USD/JPY +0.1% at 119.07
  

7:32 am Chemical Financial announces management re-structuring; names Leonardo Amat and Robert Rathbun to COO (CHFC) :

• Amat joined Chemical Bank in 1991. He was named Vice President and Regional Manager-Commercial Loans in 1998 and subsequently was promoted to Community President of Chemical's Niles Community Bank and then Community President of Chemical's Benton Harbor Community Bank.
• Rathbun is a 28-year veteran of Chemical and has held leadership roles in a variety of positions, including corporate loan review, compliance and commercial lending.
• In 2003, he was promoted to Senior Vice President, Commercial Lending and four years later was named Community President of Chemical's Midland Community Bank and senior lender for Owosso, Clare and Midland Community Banks
  

7:32 am Union First Mkt Banc Q1 EPS $0.36 vs $0.38 Capital IQ Consensus; ROTCE 9.7% (UBSH) :  

7:31 am Neostem announces the expansion of manufacturing services under an existing Services Agreement between its subsidiary and Kite Pharma (KITE) (NBS) : Under the terms of the original agreement, PCT and its center of excellence for cell therapy process development, engineering and manufacturing, provided development and manufacturing services for Kite's lead eACT clinical development program. These services included technology transfer, process development, qualification and implementation of the manufacturing process. Under the expanded Services Agreement, Kite will receive these services through increased facilities and personnel at PCT's Mountain View, CA location that are contractually dedicated to Kite.

7:31 am IMAX and Empire Cinemas Limited announce an agreement for three IMAX theatres to be added in Essex, Hertfordshire and Birmingham, England (IMAX) : Co announced an agreement for three IMAX theatres to be added to existing multiplexes in Basildon, Essex; Hemel Hempstead, Hertfordshire and Great Park, Birmingham, England

7:30 am TASER announces that the Ontario Provincial Police has purchased 1000 Taser X2 smart weapons (TASR) :

• Co announced multiple orders of its TASER brand next generation Smart Weapons. 
• These orders were received in the first quarter and are expected to be shipped in the first half of 2015.
  

7:30 am Biogen announces new data that continue to support TECFIDERA (dimethyl fumarate) as an effective, long-term treatment for people who are living with relapsing forms of multiple sclerosis (BIIB) : Data show TECFIDERA significantly reduced relapses and disability progression in newly-diagnosed relapsing-remitting MS (RRMS) patients who had highly active disease. Additional data indicate TECFIDERA showed strong and sustained efficacy over five years in RRMS patients who were previously treated with an interferon (interferon beta-1a/b [IFN]) or glatiramer acetate (:GA). These results will be presented at the 67th American Academy of Neurology (AAN) Annual Meeting in Washington, D.C. 

• TECFIDERA provided robust efficacy in newly-diagnosed patients who have highly active MS, as seen in a post-hoc analysis of two years of integrated data from the Phase 3 DEFINE and CONFIRM studies. Patients included in the analysis were diagnosed with RRMS within one year prior to enrolling in the DEFINE or CONFIRM studies, were either treatment-nave or previously treated with corticosteroids alone,and met the criteria for highly active MS (two or more relapses within one year prior to enrolling in DEFINE or CONFIRM). Compared to placebo (n=77) at two years, TECFIDERA (n=84) significantly reduced annualized relapse rate (ARR) (56% reduction, p
• The safety profile of TECFIDERA observed in ENDORSE in the presented analysis was consistent with the favorable findings reported in the DEFINE and CONFIRM studies, reflecting a minimum of five years of observation. There was no overall increased risk for serious infections, including opportunistic infections.
  

7:30 am TECO Energy enters into fourth amendment of agreement to sell TECO Coal (TE) :

• Co announced that on April 17, 2015, it entered into a fourth amendment of its agreement with Cambrian Coal, a member of the Booth Energy group, to modify the terms of the Securities Purchase Agreement dated as of Oct. 17, 2014, related to the sale of TECO Coal.
• This fourth amendment extends the closing date to June 5, 2015. The total sales price remains $140 mln including future contingent consideration of $60 mln if certain coal benchmark prices reach certain levels over the next five years.
• The $80 mln cash base purchase price is subject to post-closing adjustments.
  

7:29 am Ciber nominates Mark Lewis as new independent director for 2015 annual meeting; Lone Star Value withdraws slate of director nominees (CBR) :  

7:27 am Horizon Pharma announces proposed private offering of senior notes and intention to enter into new term loan facility (HZNP) : The co announced that Horizon Pharma Financing Inc., its wholly-owned subsidiary, intends, subject to market and other considerations, to offer $300 million aggregate principal amount of senior notes due 2023, and that Horizon Pharma, Inc., the parent of the Issuer and a wholly-owned subsidiary of Horizon, intends to enter into a new term loan facility in an aggregate principal amount of $500 million. Horizon currently expects to use the net proceeds from the offering of notes and borrowings under the new term loan facility to fund a portion of Horizon's planned acquisition of Hyperion Therapeutics (HPTX), repay the outstanding amounts under Horizon's existing $300 million credit facility and certain outstanding debt of Hyperion, and pay any prepayment premiums, fees and expenses in connection with the foregoing.

7:25 am Orchids Paper Products announces a 1.5 mln share public offering of common stock (TIS) : Co intends to use the net proceeds from the proposed offering, together with bank financing and cash on hand, to construct and operate a fully integrated paper mill in Barnwell, South Carolina, consisting of a new facility to house a new paper machine and converting equipment to convert the parent rolls into finished product and to provide warehouse space for finished product and raw materials. The Company intends to use the remainder of the proceeds, if any, for general corporate purposes

7:20 am Morgan Stanley beats by $0.06, beats on revs (MS) : Reports Q1 (Mar) adj. earnings from continuing operations of $0.85 per share, excluding a $0.29 tax benefit, $0.06 better than the Capital IQ Consensus of $0.79; GAAP revenues rose 10.1% year/year to $9.91 bln vs the $9.19 bln consensus. 

• Institutional Securities net revenues excluding DVA were $5.3 billion. Revenues for the quarter reflect strong performance in Equity sales and trading across products and regions, improved performance in Fixed Income and Commodities sales and trading on higher levels of client activity and solid results in Investment Banking. 
• Wealth Management net revenues were $3.8 billion. The pre-tax margin was 22%.6 Fee based asset flows for the quarter were $13.3 billion, with total client assets of $2.0 trillion at quarter end. 
• Investment Management reported net revenues of $669 million with assets under management or supervision of $406 billion. 
• The annualized return on average common equity from continuing operations was 14.2% in the current quarter, or 10.1% excluding DVA and the net discrete tax benefit
  

7:16 am Tribune Media announces a secondary offering of 9.24 mln shares of common stock by selling stockholder Oaktree Capital Management (TRCO) :  

7:15 am Huntington Ingalls and Kinder Morgan (KMI) decide not to pursue joint venture on Avondale redevelopment (HII) :

• Co announced it has completed discussions with Kinder Morgan (KMI) to explore the redevelopment of HII's Avondale shipyard in Louisiana. Since April 2014, HII and Kinder Morgan have evaluated best-use opportunities for the facility, and have mutually decided not to move forward with a joint venture. 
• HII will continue to assess all alternatives for future use of the facility, to include selling the property, and will continue to work closely with the State of Louisiana and Louisiana Economic Development.
  

7:12 am Legacy Reserves cuts distribution; reaffirms FY15 capital budget (LGCY) :

• Cash distribution attributable to the first quarter of 2015 of $0.35 per unit payable on May 15, 2015 to unitholders of record on May 1, 2015 -- down from 0.61 in 4Q14. 
• "In response to the sustained steep decline in commodity prices, we have reduced our quarterly distribution to $0.35 per unit to more accurately reflect the cash flow generation of our assets at these commodity prices. This marks the first time we have ever reduced our distribution and it's a decision that was not taken lightly, but instead was made after thorough analyses of the best options available given the current price environment.
• Expected 2015 distribution coverage of greater than 1.3x 
• Reaffirmed 2015 capital budget of $30 million of which ~45% was spent in Q1 
• Updated hedge position providing greater cash flow protection from sustained lower oil prices in summer 2015 and Midland-to-Cushing differentials 
• Reaffirmed borrowing base of $700 million and current liquidity of ~$570 million
  

7:04 am Halliburton beats by $0.11, reports revs in-line (HAL) : Reports Q1 (Mar) earnings of $0.49 per share, excluding non-recurring items, $0.11 better than the Capital IQ Consensus Estimate of $0.38; revenues fell 4.1% year/year to $7.05 bln vs the $7.0 bln consensus. 

• "North America experienced an unprecedented decline in drilling activity during the first quarter, which drove pricing pressure and margin compression across all product lines. First quarter revenue declined 9% and operating income declined 54%, year-over-year, compared to a 21% reduction in the United States land rig count. Activity has dropped ~50% from the peak in late November and we expect to continue to see pricing pressure for our services until the rig count stabilizes. "Our international business has been more resilient than the domestic market, with the international rig count down 9% from the peak last July. We continue to anticipate headwinds across all of our international regions this year, as operators reduce their budgets... We continue to look beyond the cycle and invest in capital and strategic programs to maintain the health of the franchise and to emerge even stronger when the industry recovers."
  
• Co is acquiring Baker Hughes (BHI).

7:03 am Cyclacel Pharma's announces pre-clinical data from its Second-Generation CDK2/9 inhibitor, CYC065 (CYCC) : The data showed that CYC065 inhibits key cancer and leukemia survival mechanisms and causes death by apoptosis in cancer cells. CYC065 is effective against acute myeloid leukemia and in particular, AML with genetic abnormalities such as MLL rearrangements (MLL-r), which confer a poor prognosis. CYC065 was also effective against uterine cancer cells including those resistant to chemotherapy and was especially potent in uterine cancer cells in which cyclin E, the partner protein of CDK2, was amplified or overexpressed.

• In each case CYC065 showed synergy with available anti-cancer agents. The data were presented at the American Association for Cancer Research (:AACR) Annual Meeting 2015, April 18 - 22, 2015, in Philadelphia. 
• Co stated: "In addition to allocating resources for the Phase 1 study of CYC065, we have adequate resources to follow-up patients in our Phase 3 SEAMLESS study of sapacitabine until mature data can be analyzed. We estimate this to occur between the second half of 2015 and the first half of 2016."
  

Results from preclinical studies by independent investigators on the Company's drug candidates sapacitabine and seliciclib, as well as CYC065, are also being presented.

• Preclinical data show that CYC065 may reverse drug resistance associated with addiction of cancer cells to cyclin E. CYC065 may also inhibit CDK9-dependent oncogenic and leukemogenic pathways, including malignancies driven by certain oncogenes and MLL-r. CYC065's potent anti-cancer activity was confirmed in AML xenograft models in which tumor growth inhibition ranging from 90 to 97 percent was achieved at well-tolerated dose levels. 
• Combination studies revealed the potential to combine CYC065 with available and experimental leukemia therapies, including cytarabine. The potent in vitro and in vivo anti-cancer activity, opportunity for patient stratification and the ability to combine with anti-leukemic agents suggest that CYC065 may have therapeutic potential in AML.
  

7:03 am Community Bank misses by $0.01, misses on revs (CBU) : Reports Q1 (Mar) earnings of $0.54 per share, $0.01 worse than the Capital IQ Consensus Estimate of $0.55. First quarter 2015 net interest income was $59.8 million, a decrease of $0.3 million, or 0.4%, compared to the first quarter of 2014.

7:03 am Rex Energy announces 1Q15 Production & update on asset strategy; Q1 production of 196.0 MMcfe/d (REXX) : Co reports 1Q15 production of 196.0 MMcfe/d.

• Additionally, as previously announced, REXX is pursuing the monetization of its 60% ownership interest in Keystone Clearwater Solutions, the company's water service subsidiary. The sale process is on track as expected and the company is encouraged by the interest that has been expressed in Keystone Clearwater Solutions. 
• In addition, the company has engaged Evercore Group L.L.C. as a financial advisor to pursue the potential monetization or joint venture of its operated assets in the Illinois Basin.
  

7:02 am NanoViricides reports 'dramatic improvement' in clinical symptoms associated with herpes simplex virus infection in the recently completed studies in mice (NNVC) : Two of the anti-Herpes nanoviricides reduced the extent of disease (morbidity) and mortality of the HSV-1 infected animals that were treated. These nanoviricides also reduced virus production in cell culture. Importantly, topical dermal treatment with these nanoviricides led to almost complete (>85%) survival of the infected mice in this animal model whereas all untreated animals died of the disease. Further, these nanoviricides were superior to topical treatment with an acyclovir formulation employed as a positive control. 

• The nanoviricides prevented the development of scabbing of the herpes virus infected lesions in the animal model.  For untreated and sham treated animals, the HSV infection progressed from initial redness at the site of infection to lesions that progressed on the skin along the nerve and internally to ultimately kill the mouse.  Topical dermal treatment with these two nanoviricide formulations significantly delayed the onset of the clinical symptoms, prevented the progression of the lesions and produced survival of almost all of the mice (>85%).
  

7:02 am Raytheon confirms it has entered into a definitive agreement with Vista Equity Partners to form a new company combining Websense, a Vista portfolio company, with Raytheon Cyber Products (RTN) : Raytheon's net cash contribution is ~$1.57 billion for an 80.3% ownership of the joint venture. Raytheon will consolidate the results of the joint venture

• As part of the transaction, Raytheon will contribute $1.9 billion (net of cash acquired) to acquire Websense, of which $600 million will be in the form of an intercompany loan to the joint venture. Raytheon will also contribute the assets of Raytheon Cyber Products and related intellectual property, which is valued at $400 million.
• The $1.9 billion in cash plus $400 million in value for Raytheon Cyber Products results in an enterprise value for the venture of $2.3 billion, with capitalization of $1.7 billion in equity and $600 million in intercompany debt to Raytheon. Vista Equity will subsequently invest approximately $335 million for a 19.7% equity stake in the new company.

7:02 am China Lodging announces a 1-year $40 mln share repurchase program (HTHT) :  

7:01 am The Medicines Co announces FDA approval of a new formulation of MINOCIN for injection (MDCO) : The FDA has also granted Qualified Infectious Disease Product  designation for the new formulation of MINOCIN for Injection under the Generating Antibiotic Incentives Now Act. The designation, the third granted to a product in the Company's infectious disease portfolio, would qualify MINOCIN for Injection for priority review and five years of marketing exclusivity upon an approval of the additional potential indications.

7:01 am Pernix Therapeutics announces that Pediatric Exclusivity has been granted by the FDA for studies conducted on Treximet (sumatriptan/naproxen sodium), effective April 16 (PTX) : Based on this decision, an additional six months of U.S. market exclusivity will attach to the patents that are listed in FDA's Orange Book for Treximet, or until February 14, 2018.

7:01 am Applied Genetic Technologies and 4D Molecular Therapeutics announce a collaboration and license agreement to discover and develop optimized AAV vectors to treat specific ophthalmic disease indications with high unmet medical need (AGTC) : As part of the agreement, 4DMT will deploy its proprietary AAV vector discovery platform, Directed Vector Evolution, to identify and optimize novel vectors. Financial details were not disclosed.

7:00 am USA Tech announces an expansion of its vending location agreement with Southern Refreshment Services (USAT) : announced an expanded agreement with Southern Refreshment Services. According to Southern Refreshment Services, it has experienced positive consumer response to USAT's cashless payment options, and is increasing its services with USAT. This includes 1,000 additional vending locations, an upgrade of 500 ePort EDGE devices to ePort G9s that are NFC-capable, as well as an additional 100+ micro-markets, cafeterias, Office Coffee Service and back office billing for catering, bulk orders, and delivery services.

7:00 am Exterran acquires compression assets from Exterran Holdings (EXH) for $102.3 mln (EXLP) : Exterran Partners has acquired assets from Exterran Holdings (EXH) for consideration valued at $102.3 million, including customer contracts serving 60 customers together with 244 compressor units used to provide compression services under those contracts.

• Those compressor units represent approximately 151,000 horsepower of compression and approximately 4% (by available horsepower) of the combined U.S. contract operations business of Exterran Holdings and Exterran Partners.
  

7:00 am Cardiovascular Systems receives FDA clearance for New Peripheral Diamondback Device (CSII) : Co announced that it has received FDA clearance for the new 4 French (4 Fr) 1.25 Solid Diamondback 360 Peripheral Orbital Atherectomy System (OAS) for the treatment of peripheral artery disease (:PAD).

6:59 am Yingli Green Energy has obtained a $48 mln financing facility for a 50 megawatt PV power plant in China (YGE) : The 10-year direct financing lease for the project's development and construction was provided by CGN International Finance Leasing, a wholly-owned subsidiary of China General Nuclear Power Group.

6:37 am Petrobras Brasileiro announced the concluded negotiations on various loan contracts (PBR) : The loan contracts include:

• R$ 4.5 billion export note with Banco do Brasil through its subsidiary BR Distribuidora for a 6-year period. 
• R$ 2 billion standby loan with Caixa Econmica Federal for a 5-year period. 
• R$ 3 billion standby loan with Bradesco for a 5-year period. Cooperation Agreement with Standard Chartered Bank for the sale and leaseback of production platforms totaling up to $3 billion and for a 10-year period.
• These transactions, along with the ones already entered into this year, will meet the company's 2015 financing requirements
  

The co noted that it will continue to assess financing opportunities aimed at anticipating some of the requirements for 2016

6:36 am Intrawest Resorts preannounces Q3 results; reaffirms FY15 guidance (SNOW) : Co is initiating a process to re-price its Term Loan under the Company's existing Credit Agreement. In conjunction with that process, the Company announced the following preliminary results for Q3:

• The Company estimates net income attributable to Intrawest Resorts Holdings, Inc. will be between $126.0 million and $129.0 million. 
• Adjusted EBITDA is estimated to be between $154.0-157.0 mln v. ests near $149 mln. 
• Total reportable segment revenue is estimated to be between $317.0 million and $323.0 million. 
• Season pass and frequency product sales have grown 17.0% through April 9, 2015, relative to the same time last year. 
• The Company reiterates Fiscal 2015 Guidance.
  

6:33 am Hasbro beats by $0.13, beats on revs (HAS) : Reports Q1 (Mar) earnings of $0.21 per share, $0.13 better than the Capital IQ Consensus Estimate of $0.08; revenues rose 5.0% year/year to $713.5 mln vs the $660.27 mln consensus. Excluding a negative $62.6 million impact from foreign exchange, revenues increased 14%.

• "2015 is off to a good start with continued momentum in our business, led by growth in all of our Franchise Brands and the underlying strength in demand across international markets, including the emerging markets."
  

6:32 am Oncolytics Biotech announces that a series of poster presentations by its research collaborators will be made at the 2015 AACR Annual Meeting (ONCY) : The first abstract/poster titled "Combination therapy of reovirus and PD-1 blockade effectively established tumor control via innate and adaptive immune responses," was authored by Melcher, et al. The authors concluded that in an immune-competent murine melanoma model the combination therapy of reovirus with PD-1 blockade confers significant survival benefit, by augmenting tumor-specific natural killer (NK.V) responses and specifically attenuating tumor-specific immunosuppression. These data also suggest that combination of PD-1 inhibition therapy with reovirus oncolytic/immunotherapy represents a readily translatable method to enhance the therapeutic efficacy.

• The second abstract/poster titled "Oncolytic virus (RT3D) administration in combination with cetuximab in head and neck squamous cell cancer (:HNSCC) models harboring active EGFR/RAS/P13K signaling," was authored by Psyrri, et al. The authors concluded that in a transgenic mouse to test the therapeutic effect of combination of cetuximab treatment and RT3D infection in a mouse model of ras-driven oral SCC, RT3D infection exhibits a strong oncolytic effect in cetuximab resistant HNSCC with activated EGFR/RAS/MAPK signaling. The findings provided evidence that RAS independent molecular mechanisms can also support the RT3D proliferation in this subset of HNSCC.
• The third abstract/poster titled "Synergistic mechanisms of oncolytic reovirus with bortezomib in overcoming therapy resistance of multiple myeloma," was authored by Morris et al. Using a number of multiple myeloma cell lines the authors concluded that not all multiple myeloma cell lines are amenable to reovrius mediated cell death and that this has important implications for the future use of reovirus as a therapeutic agent.
• The fourth abstract/poster titled "Oncolytic viral therapy with immune modulation is an effective novel treatment strategy for non-small cell lung cancer (:NSCLC)," was also authored by Morris et al.
  

6:30 am BioTime subsidiary OncoCyte Corporation announces positive clinical results of its PanC-Dx Diagnostic Test; test demonstrated a high level of sensitivity and specificity in non-invasive detection of bladder cancer (BTX) : The first clinical study was conducted by OncoCyte in collaboration with investigators in the Department of Pathology at Johns Hopkins University School of Medicine. Clinical investigation involved collection of 90 urine samples from patients undergoing urine cytology for the diagnosis of either primary or recurrent bladder cancer. Study investigators then investigated the performance the 43-marker panel derived from the first clinical study using a set of 195 urine samples obtained from a second, large ongoing clinical study at multiple urology clinics in the United States. Performance of the classifier was evaluated using several cross-validation criteria, including Receiver Operating Characteristic area under the curve analysis, yielding an AUC of 0.91. Optimal performance of the classifier was achieved using only two markers.

6:21 am Genworth Financial responds to the final Private Mortgage Insurer Eligibility Requirements (GNW) : The co noted that based on its interpretation of the final PMIERs, the company still estimates $500 to $700 million of additional capital will be required to be fully compliant by the effective date. This estimate is based on a number of factors including the company's view of market size and dynamics, planned internal restructuring within U.S. Mortgage Insurance (U.S. MI) and current affiliate asset valuation. The estimate does not reflect today's announcement of changes to GSE fees (loan level pricing adjustments and adverse market fees), the impact of which the company is still evaluating. The final PMIERs lowered the level of required capital from that contained in the draft requirements, primarily benefiting legacy books of business, and also lowering the benefit from captive reinsurance treaties. Additionally, this estimate reflects reductions in affiliate asset valuation due to changes in market value, currency fluctuations and the finalization of the PMIERs.

•  The company still intends to comply with the final PMIERs by the effective date, which is now December 31, 2015.
  

6:16 am Pandora A/S announces that it will launch an e-commerce platform in the US (PNDZY) : The launch is part of the Company's aim to offer it jewelry online globally, and with the introduction of a PANDORA owned E-store in the US, co now offers E-stores in 8 countries. The E-store will, as is the case with the European E-stores, be operated by PFSWeb

6:15 am PG&E confirmed gas line rupture over the weekend (PCG) : Co announces Workers not affiliated with PG&E apparently struck a 12-inch natural gas transmission pipeline this afternoon in Fresno; no call had been placed to 811. The gas that was released by the dig-in ignited, and there were reports of injuries.

PG&E responded quickly after the pipeline was struck. PG&E detected a slight change in pressure at 2:29 p.m., and was first notified about the incident at 2:36 p.m. Actions to shut off gas began before 3 p.m., and the flow of gas to the pipeline was shut at 3:20 p.m. Because of the remaining gas in the line, the flames were exhausted at 3:56 p.m.

6:13 am GDF Suez announces a natural gas discovery in the Illizi Basin, in Southeast Algeria (GDFZY) : The TESO-2 well was drilled to a depth of 1,307 meters in the Ordovician reservoir. A successful test produced a gas flow of 175,000 cubic meters per day.TESO-2 is the first well of the second exploration program carried out under this licence, which started in January 2015. The drilling program includes at least four additional appraisal wells. GDF SUEZ holds 20% of the Sud-Est Illizi licence alongside the operator Repsol (52.5%) and Enel Spa (27.5 %). SONATRACH will participate with a 51% stake in the development and production phases.

6:06 am Kamada Reports announces additional data from its European Phase 2/3 clinical study of inhaled Alpha-1 Antitrypsin, demonstrating efficacy in a variety of lung function measurements (KMDA) : announces additional results from its European Phase 2/3 clinical trial of the Company's inhaled alpha-1 antitrypsin to treat AAT deficiency. Kamada performed these post hoc analyses in accordance with guidance received following the Company's meeting with European Medicines Agency Rapporteurs in December 2014.

• For lung function, overall one year effect: 
• FEV1 (L) rose significantly in AAT treated patients and decreased in placebo treated patients 
• There was a trend towards better FEV1% predicted
• FEV1/SVC% rose significantly in AAT treated patients and decreased in placebo treated patients 
• For lung function change at week 50 vs. baseline: 
• There was a trend towards reduced FEV1 decline 
• There was a trend towards a reduced decline in FEV1% predicted
• FEV1/SVC% rose significantly in AAT treated patients and decreased in placebo treated patients

6:05 am On The Wires (:WIRES) :

• Teradata (TDC) announced the launch of the Software-Defined Warehouse, an enhancement to the Teradata Database. The Software-Defined Warehouse enables organizations to consolidate multiple data warehouses into one system without sacrificing security or service level performance. 
• Ericsson (ERIC) and Intel (INTC) Security are working together to make managed security solutions available for telecom operators to bundle with the existing services they provide to enterprises. 
• TowerJazz (TSEM) and Gpixel announced the world's first backside illuminated (BSI) scientific CMOS image sensor, Gpixel's GSENSE400-BSI, manufactured using TowerJazz's TS18IS process. 
• Radware (RDWR) released a new and fully-managed, cloud-based Web Application Firewall (WAF.V) service that provides unmatched protection from web-based cyber-attacks.
  

6:03 am SunTrust Banks beats by $0.06, reports revs in-line (STI) : Reports Q1 (Mar) adj earnings of $0.78 per share, $0.06 better than the Capital IQ Consensus Estimate of $0.72; revenues fell 1.9% year/year to $1.99 bln vs the $2.01 bln consensus. 

• Mortgage production-related income for the current quarter was $83 million compared to $61 million for the prior quarter and $43 million for the first quarter of 2014. 
• Co rerpoted Q1 NIM of 2.83% vs 2.96% in Q4.
  

6:02 am Ascent Solar announces a stock purchase agreement with its existing stockholder TFG Radiant Investment Group for $1 mln in common stock (ASTI) : The transaction was priced at a fixed per share price of $1.00 and the Company has issued 1,000,000 restricted shares to TFG Radiant. The shares will become unrestricted one year from the closing date. 

6:01 am Hooper Holmes acquires accountable health solutions for $7 mln; expected to be accretive to Hooper Holmes' earnings in 2015 (HH) : The co announced it has acquired the assets representing the health and wellness business of Accountable Health Solutions, Inc. Accountable Health Solutions' unaudited financial statements reflect approximately $15 million in net sales during calendar year 2014. The purchase price was $7.0 million comprising $4 million cash and approximately $3 million in unregistered common stock, subject to a working capital adjustment. The acquisition is expected to be accretive to Hooper Holmes' earnings in 2015.

6:00 am Provectus Pharma and Pfizer (PFE) announce receipt of Patent Allowance for Use of PV-10 for the treatment of cancer (PVCT) : Cos announced that they have received from the US Patent and Trademark Office a Notice of Allowance for a joint patent application The patent will protect use of PV-10 in combination with certain other types of drugs in the treatment of melanoma and cancers of the liver. The allowed claims cover use of PV-10 in combination with systemic inhibitors of immune system down-regulation, such as anti-CTLA-4, PD-1 and PD-L1 antibodies, along with enhancers of immune system up-regulation, such as IL-2 and interferon-gamma.

6:00 am Sky-mobi announces appointment of Xiaodong Chen as CFO, effective April 20, 2015 (MOBI) : Prior to joining Sky-mobi, Mr. Chen served as the chief financial officer of ET Solar Group Corp, a provider of smart energy solutions, responsible for the company's equity financing, merger and acquisitions financial reporting and business restructuring from 2008 to 2015.

6:00 am MiX Telematics issues further cautionary announcement (MIXT) : The co notes that shareholders are referred to the cautionary announcement released on SENS on 5 March 2015 and are advised that MiX Telematics continues to investigate strategic alternatives relating to the company. Accordingly, shareholders are advised to continue exercising caution when dealing in the company's securities until a full announcement is made.

5:54 am European Markets : FTSE...7038.50...+43.90...+0.60%.  DAX...11819.56...+130.90...+1.10%.

5:54 am Asian Markets : Nikkei...19634.49...-18.40...-0.10%.  Hang Seng...27094.93...-558.20...-2.00%.

5:53 am S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +23.50. :

5:51 am America Movil SA shareholders approve spin-off (AMX) : The co announced that its shareholders, approved with a favorable vote of 98.2% the spin-off through which AMX will contribute to a sociedad annima burstil de capital variable called Telesites, S.A.B. de C.V., certain assets (mainly comprised of the passive infrastructure used by its wireless operations in Mexico), liabilities and equity. Additionally, it has been approved to initiate the necessary and convenient processes to implement the spin-off approved.

5:33 am Genetic Technologies announces additional breast health centres to begin offering BREVAGenplus (GENE) : Co announced that a further two new breast health centres will begin to offer BREVAGenplus to their at-risk patients in a systematic fashion. This is in addition to the six breast health centres that the Company previously announced were set to adopt BREVAGenplus, of which all six have in fact provided samples during the March 2015 quarter.

• With an additional number of new breast health centres expected to follow suit later in calendar year 2015, the Company reiterates that it expects sales growth to accelerate in the second half of calendar 2015 and beyond. 
• Importantly, the Company believes that the adoption of BREVAGenplus by a total of eight new breast health centres validates the company's recently re-focused sales and marketing strategy, announced in September 2014, whereby the Company shifted its focus to these large facilities. 
• While these centres are more complex entities with longer sales cycles, they offer higher and more stable long-term revenue potential. 

5:25 am Check Point Software beats by $0.04, reports revs in-line (CHKP) : Reports Q1 (Mar) earnings of $0.95 per share, $0.04 better than the Capital IQ Consensus Estimate of $0.91; revenues rose 9.0% year/year to $373 mln vs the $369.99 mln consensus.

• Share Repurchase Program: During the first quarter of 2015, the company repurchased 3.0 million shares at a total cost of $242 million, bringing the total share repurchase program to over $4 billion.
  

4:01 am On The Wires (:WIRES) :

• Toshiba Corporation (TOSBF) announced the start of demonstration operation of H2One, an independent energy supply system based on renewable energy and use of hydrogen as a fuel for power generation. Kawasaki City and Toshiba have installed the system at the Kawasaki Marien public facility and Higashi-Ogishima-Naka Park in the Kawasaki Port area. 
• SunPower (SPWR) announced that it has begun construction on the 86-megawatt peak Prieska solar power plant in South Africa's Northern Cape province. Expected to be fully operational in 2016 
• KeepItSafe, a premium, white-glove service for online disaster recovery and data backup, and a brand of j2 Global (JCOM), announced that the company has been awarded a G-Cloud Framework Agreement from the UK Government.

3:42 am Yara ASA writes down Lifeco investment by $112 mln (YARIY) : Co announces that due to the worsening security outlook in Libya, Yara sees a high likelihood of a further deterioration in 2015 of the operating ability of the Lifeco joint venture plants. Given an already challenging feedstock and financial situation for the joint venture, Yara has therefore decided to write down the value of its Lifeco investment by $112 million, leaving a remaining book value of $18 million.

• The political and security situation in Libya has worsened rapidly, and may deteriorate further over the next year. 
• In light of this, Yara is evaluating the operation of the plants on an on-going basis in cooperation with the other partners, in order to protect the employees as well as the assets.
  

3:37 am Pluristem Therapeutics' Clinical Advisory Board prepares Phase II clinical trials in critical limb ischemia in Europe and Japan (PSTI) : Co announced that its Clinical Advisory Board for Critical Limb Ischemia concluded a key meeting in London, England. During the meeting, Clinical Advisory Board members, including Key Opinion Leaders in the treatment of CLI, outlined the Phase II study design and other critical components of advanced-stage trials for the Company's PLacental eXpanded cells in the treatment of this peripheral artery disease.

• Pluristem has applied to conduct Phase II trials for CLI in regions with recently established rapid regulatory pathways, including the Accelerated Pathway for Regenerative Therapy in Japan and the Adaptive Pathway in the European Union.
  

3:22 am On The Wires (:WIRES) :

• Global Sources' (GSOL) 2015 spring electronics show second phase opens today with more than 1,900 booths focusing on mobile electronics. Held today through April 21 at AsiaWorld-Expo in Hong Kong, products categories covered include smartphones, tablets, drones, wearables and accessories. 
• PSA Peugeot Citron (PEUGY.PK) and Dongfeng Group announced a project to jointly develop a global platform for the manufacture of B and C segment vehicles under the Peugeot, Citron, DS and Dongfeng brands and to create a joint R&D centre based in Shanghai that will be dedicated to developing products and technologies for fast- growing Asian markets. The project calls for capital expenditure of 200 million, of which 60% will be committed by PSA and 40% by DFG.

3:17 am Prologis reports FFO in-line, beats on revs; guides FY15 FFO in-line (PLD) : Reports Q1 (Mar) funds from operations of $0.49 per share, in-line with the Capital IQ Consensus Estimate of $0.49; revenues rose 6.5% year/year to $462.9 mln vs the $413.63 mln consensus. Co issues in-line guidance for FY15, sees FFO of $2.07-2.13 vs. $2.08 Capital IQ Consensus Estimate.
Additional guidance

• Year-end occupancy between 95.5 and 96.5 percent 
• GAAP same store NOI growth between 3.75 and 4.50 percent 
• Development stabilizations between $1.7 and $1.9 billion 
• Development starts between $2.3 and $2.6 billion 
• Building acquisitions between $1.0 and $1.5 billion 
• Contributions to co-investment ventures between $1.3 and $1.8 billion
  
  

3:06 am Prologis signs definitive agreements to acquire $5.9 bln portfolio from KTR Capital Partners; expected to be accretive to Core FFO by $0.14 (PLD) : Prologis, Inc. (NYSE: PLD), the global leader in industrial real estate, today announced it has signed definitive agreements to acquire the real estate assets and operating platform of KTR Capital Partners and its affiliates for a total purchase price of $5.9 billion. The properties comprise KTR's three co-investment funds and will be acquired by Prologis U.S. Logistics Venture, a 55-45 consolidated joint venture with Norges Bank Investment Management, manager of the Norwegian Government Pension Fund Global.

Transaction / Structure
The total consideration for the transaction is $5.9 billion, including the assumption of approximately $700 million of secured mortgage debt and the issuance of up to $230 million (less assumed liabilities) of common limited partnership units in Prologis to KTR.

Accretion / Cost Savings / Currency Benefits

• The transaction is expected to be accretive to forecasted annual core funds from operations (Core FFO) by ~$0.14 per share, on a stabilized basis. This represents 7% growth from the midpoint of Prologis' 2015 guidance. 
• Contemporaneously, Prologis has obtained a commitment from Morgan Stanley Senior Funding to provide a $1.0 billion bridge facility for the transaction, which provides ample capacity while maintaining significant liquidity on its credit facilities. 
• Additionally, the transaction is expected to lower general and administrative expenses as a percentage of assets under management by ~12% and increase its U.S. dollar equity exposure to 93%

2:49 am Koninklijke Ahold repurchased 1,179,305 common shares in the period from April 13-17 (AHONY) : The shares were repurchased at an average price of 18.6041 per share for a total consideration of 21.94 million. These repurchases were made as part of the 500 million share buyback program announced on February 26, 2015. The total number of shares repurchased under this program to date is 3,310,249 common shares for a total consideration of 60.64 million.

2:30 am Liberty Global's subsidiary Telenet to acquire BASE (LBTYA) : Co announced that its subsidiary Telenet Group Holding NV has entered into a definitive agreement to acquire BASE Company NV from Royal KPN (KKPNY), the third-largest mobile network operator in Belgium in an all cash transaction valuing BASE Company at 1.325 billion.

• This represents a purchase price multiple of 4.2x BASE Company's estimated 2015 OCF1, as adjusted for approximately 145 million of projected annual run-rate opex synergies2. When the enterprise value is increased to include ~240 million of projected one-off investments and integration costs, the synergy adjusted multiple increases to 5.0x3. 
• This acquisition will enable Telenet to compete more effectively in a mobile market with significant growth opportunities, while offering a full range of fixed and mobile services to the benefit of consumers and businesses in Belgium.
  

2:20 am Air Products and ACWA Holding awarded contract by Saudi Aramco to build, own and operate the world's largest industrial gas complex (APD) : Air Products announced that it has been awarded a contract by Saudi Aramco under a joint venture of Air Products and ACWA Holding to build, own and operate the world's largest industrial gas complex to supply 75,000 metric tons per day (20,000 oxygen and 55,000 nitrogen) to Saudi Aramco's refinery being built in Jazan, Saudi Arabia for 20 years.

• The industrial gas complex will be designed and built by Air Products using its proprietary technology. 
• Once built, this facility will be owned by a JV of Air Products (25%) and ACWA Holding (75%). 
  

2:02 am DelMar Pharma presents positive preclinical data on VAL-083 for treatment of non-small cell lung cancer (DMPI) : Co announced positive preclinical data on its lead product candidate VAL-083 for treatment of platinum drug-resistant non-small cell lung cancer and as a potential combination therapy option in newly diagnosed NSCLC patients.

• DelMar's study demonstrated that VAL-083's mechanism is distinct from platinum-based chemotherapy, the current standard of care for NSCLC. VAL-083 retains its high level of anti-cancer activity in p53 mutated NSCLC cell lines compared to cisplatin or oxaliplatin which provides support for the potential of VAL-083 as a viable treatment option for NSCLC patients failing platinum-based therapy. 
• In addition, the combination of VAL-083 with either cisplatin or oxaliplatin demonstrated superadditivity/synergy against NSCLC cell lines, including those resistant to tyrosine kinase inhibitors. These results support the potential benefit of a VAL-083/platinum combination therapy in newly diagnosed NSCLC patients.
  
  

1:57 am Merck presents early findings with KEYTRUDA in patients with advanced pleural mesothelioma (MRK) : Co announced the first presentation of data investigating the use of KEYTRUDA, the company's anti-PD-1 therapy, in 25 patients with advanced pleural mesothelioma, a difficult-to-treat cancer of the lining of the lungs, abdomen and other organs.

• The early findings presented showed an overall response rate (confirmed and unconfirmed) of 28% with KEYTRUDA in patients with tumors that expressed PD-L1.
• Additionally, 48% of patients had stable disease, resulting in a disease control rate of 76%
  

1:46 am Merck announces submission of supplemental Biologics License Application to FDA for KEYTRUDA in advanced non-small cell lung cancer (MRK) : Co announced that it has submitted a supplemental Biologics License Application to the FDA for KEYTRUDA, the company's anti-PD-1 therapy, for the treatment of advanced non-small cell lung cancer.

• KEYTRUDA previously received Breakthrough Therapy designation for advanced NSCLC and this initial filing seeks approval in the treatment of patients with advanced NSCLC whose disease has progressed on or after platinum-containing chemotherapy and an FDA-approved therapy for EGFR or ALK genomic tumor aberrations, if present. 
• Under PDUFA, the FDA has 60 days from submission of the sBLA to determine if the application will be accepted for review. The submission is based on data from KEYNOTE-001 in patients with greater than or equal to 50 percent of tumor cells positive for PD-L1 expression.
  
• The efficacy findings demonstrated that tumor PD-L1 expression may be a relevant biomarker for the identification of NSCLC patients with an enhanced likelihood of experiencing improved efficacy with an anti-PD-1 therapy. 
• PD-L1 is a protein that may be overexpressed in the tumor and may contribute mechanistically to an inhibited immune response.
  

1:29 am NMI Hldgs comments on new private MI eligibility standards (NMIH) : Co commented on the final Private Mortgage Insurer Eligibility Requirements released today by the Federal Housing Finance Agency. The PMIERs establish more stringent standards for determining a mortgage insurance company's eligibility to insure loans sold to or guaranteed by Fannie Mae and Freddie Mac. The PMIERs will go into effect on December 31, 2015. Insurers will have a transition period to satisfy the financial requirements of PMIERs, but not beyond July 1, 2017.

• "National MI welcomes the new PMIERs...This initiative reinforces the importance of a sound and financially sustainable private mortgage insurance industry, which is a critical component of a healthy residential mortgage market. With significant undeployed capital, National MI is well positioned to continue to grow insurance-in-force and to take on an increasing role in providing credit enhancement to the housing finance industry, reducing the government's footprint."
  

1:25 am Exco Resources appoints Harold Jameson as Chief Operating Officer (XCO) : Co announced it has appointed Harold Jameson as EXCO's Chief Operating Officer, effective April 17, 2015.

• Jameson most recently served as EXCO's Vice President of Development & Production with primary responsibilities including EXCO's horizontal shale development drilling programs in the Haynesville, Eagle Ford and Marcellus assets. Mr. Jameson has served in a Vice President role since March 2011.
  

12:36 am Ignyta presents 3 posters at AACR highlighting developments relating to entrectinib (RXDX) : Co announced announced three poster presentations at the 106th Annual Meeting of the American Association for Cancer Research (:AACR) in Philadelphia, Pennsylvania.

Each of the presentations highlights developments relating to entrectinib (formerly known as RXDX-101), Ignyta's proprietary oral pan-Trk, ROS1 and ALK tyrosine kinase inhibitor targeting solid tumor indications. The first of the poster presentations describes the similarities and differences between Trk rearrangements and overexpression as potential oncogenic drivers and provides support for further exploration of entrectinib in cancers with Trk overexpression. The second presentation highlights a newly-developed biomarker assay to enable rapid screening of patient tumor samples to assess expression of TrkA, TrkB, TrkC and ROS1. The third poster presents data generated in collaboration with The Children's Hospital of Philadelphia and the University of Pennsylvania School of Medicine, showing that entrectinib treatment resulted in significant tumor growth inhibition in a neuroblastoma xenograft model, both alone and in combination with conventional chemotherapy, providing support for the potential clinical evaluation of entrectinib in neuroblastoma patients.