7:56 am S&P futures vs fair value: -21.60. Nasdaq futures vs fair value: -53.40. (:WRAPX) :

U.S. equity futures trade near their pre-market lows after sliding alongside markets in Europe. At this juncture, the S&P 500 futures trade 22 points below fair value after hitting their lows within the past 90 minutes.

The retreat in European equities and U.S. futures has lured some money into the Treasury market, sending the 10-yr yield lower by three basis points to 2.17%.

Things will be very quiet on the economic front today with data limited to the 10:00 ET release of the FHFA Housing Price Index for July.

In U.S. corporate news of note:

• General Mills (GIS 57.78, +0.99): +1.7% in reaction to above-consensus earnings on light revenue.
• Red Hat (RHT 72.80, +0.08): +0.1% after beating estimates and boosting its guidance.
• Darden Restaurants (DRI 71.00, +0.73): +1.0% after beating bottom-line estimates and raising its fiscal-year 2016 earnings guidance above analyst estimates.

Reviewing overnight developments:

• Asian markets ended mostly higher. China's Shanghai Composite +0.9%, Hong Kong's Hang Seng +0.2%, and Japan's Nikkei was closed for a Bridge Holiday ahead of tomorrow's Autumn Equinox
  • In economic data:
    • Australia's Q2 House Price Index +4.7% quarter-over-quarter (expected +2.5%; prior +1.6%)
  • In news:
    • Australia's better than expected house price index had little impact on the Australian dollar as the Aussie ticked up briefly before sliding to a one-week low against the dollar (0.7085)

• Major European indices trade lower across the board. UK's FTSE -2.2%, Germany's DAX -2.8%, and France's CAC -3.0%. Elsewhere, Italy's MIB -2.8% and Spain's IBEX -2.7%
  • Economic data was limited:
    • UK's August Public Sector Net Borrowing GBP11.31 billion (expected GBP8.65 billion; prior -GBP70 million) while September CBI Industrial Trends Orders -7 (expected 0; prior -1)
    • Swiss August Trade Surplus narrowed to CHF2.87 billion from CHF3.58 billion (expected surplus of CHF2.97 billion)
  • Among news of note:
    • European equities have faced heavy selling with Volkswagen enduring its second consecutive plunge. The stock trades lower by 19.3% today, extending this week's loss to 34.4%

7:43 am On the Wires (:WIRES) :

• Park City's (PCYG) Repositrak has signed an agreement with one of the largest research-based bio-pharmaceutical manufacturers in the world to pilot ReposiTrak's Track & Trace solution. ReposiTrak will provide the manufacturer with visibility to product movement through the supply chain and guard against the entry of counterfeit drugs, which are responsible for 100,000 deaths annually worldwide.
  
• CoverHound announced that the company raised $33.3 million in a Series C financing round led by ACE Group (ACE)
• IMAX Corporation (IMAX) announced an agreement with Better Life Commercial Chain Share Co for two new IMAX theatres in China's Hunan province to be operated by its joint venture, Hunan Shengshi Entertainment Culture Investment Co
  • Co also announced that it and SMI Holding Group Limited have expanded the parties' revenue sharing arrangement with the addition of five new IMAX theatres in China
• Xtant Medical Holdings (BONE) announced that it has received notification that the US PTO has issued a Patent entitled "Process for Demineralization of Bone Matrix with Preservation of Natural Growth Factors." The patent covers demineralized bone matrices derived from cortical bone, which include Bacterin's branded product lines OsteoSTX, OsteoWrap, and OrbitalWrap HD
• NeuroMetrix (NURO) reported that Quell was featured on ABC's Good Morning America on September 17 in a segment titled "Erase Your Pain". In the segment, Quell user and Physical Therapist Valerie Gregory shared how the device has eased her osteoarthritis pain.
• Nordic American Tankers Limited (NAT) announced that it has entered into an agreement to acquire two 2010 built ships for delivery to NAT in September and October 2015. The first of these vessels was taken over today and has been renamed Nordic Light. The delivery of its sister ship is expected to take place during October. Thereafter, the Company will have a fleet of 26 Suezmax vessels including two newbuildings to be delivered in August 2016 and in early 2017. Co will seek to increase its dividend and earnings capacity through further expansion when the time is right to do so.
• The U.S. Air Force has awarded Accenture (ACN) Federal Services a 30-month, $73 million contract to complete work on the Air Force's financial management system.

7:41 am CarMax beats on the bottom line, misses on revs (KMX) :

• Reports Q2 (Aug) earnings of $0.79 per share, ex-$0.03 benefit from a change in the timing of recognized reconditioning overhead costs, $0.03 better than the Capital IQ Consensus of $0.76; revenues rose 7.9% year/year to $3.88 bln vs the $3.96 bln consensus. 
• Total used vehicle unit sales grew 9.2% and comparable store used unit sales increased 4.6% vs. ests closer to +5%.
• Comparable store used unit sales were driven by improved conversion, which benefited from the strong execution of our store teams.
• Wholesale vehicle unit sales grew 8.7% versus the second quarter of fiscal 2015.

7:33 am Overnight Treasury Summary (BONDX) :

Treasuries Rebound

• The U.S. Treasury market is recovering some of Monday's losses this morning as U.S. equity index futures indicate a lower open for stocks. Over the next three days, the Treasury will auction off $90 bln of 2, 5, and 7-year notes. CRT Capital was citing Asian real-money buying in the 3 and 5-year maturities overnight. As for the sell-off in global equities since the FOMC decision last Thursday, the fact remains that good news failed to move the market higher. Volatility in stocks could keep long rates low for a little while longer although the poor performance of the Treasury complex since the beginning of the correction in stocks should give bulls pause
  
• Yield Check:
  
  • 2-yr: -1 bp to 0.70%
    
  • 5-yr: -3 bps to 1.46%
    
  • 10-yr: -3 bps to 2.17%
    
  • 30-yr: -3 bps to 2.99%

• International News:
  
  • The Asian Development Bank downgraded its 2015 growth forecast for China to 6.8% from its March estimate of 7.2%
    
    • The ADB revised down its projection for India to 7.4% from 7.8% in March
      
    • The forecast for Southeast Asia was lowered to 4.4% from 4.9%, as that region is the one most affected by China's slowdown
      
      • The bank's chief economist, Shang-Jin Wei, said that the big headwinds for growth in developing Asia were "currency pressures and worries about capital outflows"
        
  • In the U.K., public-sector net borrowing (excluding that of banks) jumped to a higher-than-expected GBP 12.1 bln in August compared to GBP 10.7 bln in August 2014
    
    • The change was attributed to lower income tax revenue
      
  • The Confederation of British Industry reported that the monthly total order book balance from its industrial trends survey fell to -7 in September from -1 in August
    
    • A strong pound was cited as the cause of weakness in the manufacturing sector
      
  • Switzerland's trade surplus narrowed more than expected to CHF 2.87 bln in August from CHF 3.58 bln in July

• Data Out Today:
  
  • July FHFA Housing Price Index (09:00 ET)
    
• Treasury Auction:
  
  • $26 bln 2-year note auction (results at 13:00 ET)
    
• Fed Speaker:
  
  • Atlanta Fed President Lockhart (FOMC voter)(19:00 ET)

7:31 am Ashland to separate into two independent, publicly traded companies (ASH) :

The co announced that its board ofdirectors has approved proceeding with a plan to separate Ashland into twoindependent, publicly traded companies

• The new Ashland will be a global leader in providing specialty chemicalsolutions to customers in a wide range of consumer and industrial markets. Thesemarkets are currently served by Ashland's Chemicals Group, comprising AshlandSpecialty Ingredients and Ashland Performance Materials. Togetherthese businesses generated approximately $3.6 billion in sales for the 12 monthsended June 30, 2015.
• Valvoline will focus on building the world's leading engine and automotivemaintenance business by providing hands-on expertise to customers in each of itsprimary market channels. The brand generated sales of $2 billion for Ashland inthe 12-month period ended June 30, 2015 

Ashland will begin the process to separate its specialty chemicals and Valvolinebusinesses while it finalizes the transaction structure and obtains customaryregulatory and other approvals. The company intends for the separation, which issubject to final board approval prior to completion, to be tax free for Ashlandshareholders. Immediately following the separation, Ashland shareholders willown shares of both the new Ashland and Valvoline.Each company expects to target mid- to high-BB credit ratings and intends to payregular dividends consistent with providing attractive total returns toshareholders.

7:30 am Endeavour Silver reports that infill drilling on the Terronera property in Jalisco State, continues to define high grade, silver-gold mineralization within the Terronera vein system (EXK) : The main mineralized zone extends over 1,400 metres (m) in length, and is still open along strike to the southeast and down dip. Recent drilling highlights include 508 grams per tonne (gpt) silver and 3.25 gpt gold (735 gpt silver equivalent (AgEq)) over 8.2 metres (m) true width, or 21.4 ounces per ton (opT) AgEq over 26.9 feet (ft), including 6,600 gpt silver and 22.10 gpt gold (8,147 gpt AgEq) over 0.23 m true width, or 237.5 opT AgEq over 0.8 ft in hole TR18-5.

7:24 am On the Wires (:WIRES) :

• Corbus Pharmaceuticals Holdings (CRBP) announced that it will present additional data on the effects of Resunab in the cystic fibrosis transmembrane conductance regulator deficient mouse model at the North American Cystic Fibrosis Conference. 
• Aradigm Corporation (ARDM) announced the completion of enrollment in the ORBIT-4 Phase III pivotal clinical trial of Pulmaquin, for the treatment of patients with non-cystic fibrosis bronchiectasis who have chronic lung infections with Pseudomonas aeruginosa. The worldwide, double-blind, placebo-controlled pivotal trial enrolled 304 patients across 16 countries
• Trecora Resources (TREC) announced the start-up of the hydro de-sulfurization unit as part of the D-Train expansion at its South Hampton Resources subsidiary
• SunEdison (SUNE) announced the commissioning of 1.2 MW DC of solar carport and rooftop systems at four Coconino County, Ariz., government facilities
• CloudFlare announced it has raised $110 million in equity capital in a round led by Fidelity Management and Research Company, with strategic participation from Google (GOOG) Capital, Microsoft (MSFT), Baidu (BIDU), and Qualcomm (QCOM) Incorporated- through its venture investment group, Qualcomm Ventures.

7:13 am General Mills beats by $0.10, misses on revs; reaffirms FY16 outlook but raises FX headwind (GIS) :

• Reports Q1 (Aug) earnings of $0.79 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of $0.69; revenues fell 1.4% year/year to $4.21 bln vs the $4.25 bln consensus, FX reduced net sales growth by 5 percentage points.
  • On a constant-currency basis, net sales grew 4 percent, including 2 points of growth contributed by the Annie's business acquired in Oct 2014. Pound volume was 2 percent above year-ago levels.
  • Net price realization and mix contributed 2 points of net sales growth. Adjusted gross margin increased 290 basis points due to improved net price realization and savings from cost-reduction initiatives.
• General Mills reiterated its full-year growth targets for 2016, which current General Mills reiterated its full-year growth targets for 2016, which currently exclude any impact from the proposed Green Giant divestiture:
  • Net sales in constant currency are expected to essentially match the 2015 levels that included a 53rd week. Total segment operating profit is expected to grow at a low single-digit rate in constant currency.
  • Constant-currency adjusted diluted EPS is expected to grow at a mid single-digit rate from the base of $2.86 earned in fiscal 2015. At current exchange rates, the company estimates a 9-cent headwind from FX in 2016 (up from $0.04), which comes to EPS of $2.92-2.94 vs. $2.96 Capital IQ Consensus.

7:06 am Darden Restaurants beats by $0.10, reports revs in-line; raises FY16 EPS above consensus; Q1 comps +3.4% (DRI) :

Reports Q1 (Aug) earnings of $0.68 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of $0.58; revenues rose 5.7% year/year to $1.69 bln vs the $1.67 bln consensus. Q1 Same-restaurant sales increased 3.4% for the quarter.

• Co issues raised guidance for FY16, sees EPS of $3.15-3.30 from $3.05-3.20 vs. $3.13 Capital IQ Consensus Estimate. Co reaffirms FY16 U.S. same-restaurant sales growth at 2.0% to 2.5%.

7:05 am FactSet beats by $0.01, reports revs in-line; guides Q1; acquires Portware (FDS) :

• Reports Q4 (Aug) earnings of $1.48 per share, $0.01 better than the Capital IQ Consensus of $1.47 vs. $1.46-1.48 guidance; revenues rose 9.7% year/year to $261.8 mln vs the $261.75 mln consensus.
• Co issues guidance for Q1, sees EPS of $1.46-1.48 vs. $1.49 Capital IQ Consensus Estimate; sees Q1 revs of $265-259 mln vs. $265.92 mln Capital IQ Consensus Estimate. 
  • The lapse in the U.S. Federal R&D tax credit on December 31, 2014, reduced each end of the GAAP diluted EPS range by $0.02 compared to the recently completed fourth quarter.
  • If the U.S. Federal R&D tax credit is re-enacted by Nov 30, 2015, diluted EPS would range between $1.51 and $1.53. FactSet would also recognize an income tax benefit of $0.14 per share if the R&D tax credit could be retroactively applied to previous periods.
• Co has agreed to acquire all the issued and outstanding membership interests of Portware, LLC for cash consideration of $265 million. Portware is an award-winning, multi-asset execution management system ("EMS") that is trusted by the world's largest asset managers.

7:04 am AutoZone beats by $0.06, beats on revs (AZO) :

Reports Q4 (Aug) earnings of $12.75 per share, $0.06 better than the Capital IQ Consensus Estimate of $12.69; revenues rose 7.9% year/year to $3.29 bln vs the $3.25 bln consensus.

• Q4 gross margin was 52.5% (versus 52.3% for the same period last year).
  • The improvement in gross margin was attributable to higher merchandise margins, partially offset by higher supply chain costs associated with current year inventory initiatives (-24 bps), and the impact of the Interamerican Motor Corporation (IMC) acquisition finalized during September, 2014 (-24 bps).
• Co will begin implementing our new supply chain strategy now and complete it in a few years.

7:03 am Landmark Infrastructure Partners acquires 65 tenant sites located in 24 states from its sponsor Landmark Dividend LLC for total consideration of $20.3 mln; expected to be immediately accretive to distributable cash flow (LMRK) : The assets acquired by the Partnership consist of 50 wireless communication, 13 outdoor advertising and 2 renewable power generation sites;

7:01 am VolitionRx announces its first CE Mark, for the NuQ Blood Assay to detect colorectal cancer (VNRX) : Co anticipates launching its panel of CE Marked assays for clinical use in Europe during 2016.

7:01 am New Residential Investment confirms Nicola Santoro has been named CFO, increases quarterly dividend to $0.46/share from $0.45/share (NRZ) : Santoro joins New Residential from FXCM Inc., where he was the Chief Accounting Officer, overseeing the firm's global financial reporting, tax and financial planning.

7:00 am FactSet acquires multi-asset execution management system, Portware for $265 mln (FDS) :  

7:00 am Impax Labs receives FDA approval for a generic version of 10 mg, Testred C-III; First generic product approved from Hayward manufacturing facility following recent resolution of warning letter - (IPXL) :  

6:58 am Enersys announces that CEO John Craig will retire, effective March 31, 2016; David Shaffer to be named President, CEO and COO on April 1, 2016 (ENS) : Shaffer joined EnerSys in 2005 serving most recently as President and Chief Operating Officer since November 2014, prior to that he served as President of the Company's Europe, Middle East & Africa business and as President of Asia prior to that

6:52 am On the Wires (:WIRES) :

• Laboratory Corporation of America Holdings (LH) announced that Covance Drug Development will open a cGMP-compliant pharmacy at its clinical research unit in Madison, Wisconsin, allowing for on-site production of high-quality, customized pharmaceutical products for clinical trials.
• eGain (EGAN) announced that a leading global travel services company deployed eGain after a successful pilot in the cloud with eGain Try+Buy
• Akamai Technologies, Inc. (AKAM) announced that fuboTV has selected Akamai's Media Delivery Solutions to support its over-the-top soccer streaming service
• ATA Inc. (ATAI) announced that its wholly owned subsidiary ATA Online Education Technology Co has submitted an application to the National Equities Exchange and Quotations in China to list on the New Third Board, the over-the-counter stock exchange in China.

6:37 am Wave Systems is granted an extension through January 12, 2016, to achieve compliance with NASDAQ minimum bid price requirement (WAVX) :  

6:25 am Advanced Semi announces that ~36.8% of Siliconware Precision's (SPIL) shares were validly tendered in its offer, exceeding the offer cap (ASX) : As a result, the number of Common Shares and ADSs that will be accepted for payment will be subject to proration as described in the tender offer documents for the ROC Offer and the U.S. Offer. Going forward, ASE, as a major shareholder of SPIL, is looking forward to promptly explore future cooperation opportunities with SPIL, in a manner consistent with all applicable laws, in an effort to maintain and promote the competitiveness of both ASE and SPIL in the face of challenges arising from the increase in global competition and the consolidation trends in the global semiconductor industry.

6:25 am On the Wires (:WIRES) :

• Ship Finance International Limited (SFL) confirmed that it has agreed to sell the 1995 built Suezmaxtanker Front Splendour to an unrelated third party. The vessel is expected to be delivered to its new owner in the fourth quarter,2015. Net cash proceeds will be approximately $13 million
• MTN signed a multi-year agreement with Ericsson (ERIC) to implement, support and manage Ericsson's Order to Cash suite
• Microsoft Corp. (MSFT) announced that is has begun the worldwide release of Office 2016
• Noah Holdings Limited (NOAH) announced a strategic partnership with UK Trade & Investment UKTI. The partnership is designed to open up opportunities for Chinese high net worth individuals in investment, philanthropy, cultural exchanges, and education in the United Kingdom.
• Planar Systems (PLNR) announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, applicable to its proposed acquisition by Leyard Optoelectronic Co., Ltd., was terminated early by the United States Federal Trade Commission on September 17, 2015. Closing of the acquisition, subject to satisfaction of remaining specified conditions, is expected to occur in the fourth calendar quarter of 2015.
• Novo Nordisk (NVO) announced that Novo Nordisk Iran and the Food and Drug Administration of the Islamic Republic of Iran have signed a Memorandum of Understanding committing Novo Nordisk to build a local manufacturing plant for FlexPen prefilled devices in Iran. The project is expected to last five years and represents a Novo Nordisk investment of approximately 70 million euros. The production will function in compliance with Good Manufacturing Practices, which will ensure the quality and reliability of the products.
• PacWest Bancorp (PACW) and Square 1 Financial (SQBK) announced that all required regulatory approvals for the mergers of Square 1 into PacWest and Square 1 Bank into Pacific Western Bank have been received. Subject to the satisfaction of customary closing conditions, the mergers are expected to be consummated at the close of business on Tuesday, October 6, 2015.
• Applied DNA Sciences, Inc. (APDN) announced the certification of Creative Labels as a Certified Print Partner, ready to provide its customers with botanical SigNature DNA-based taggant labelling solutions

6:03 am Frontline has agreed with Ship Finance International (SFL) to terminate the long term charter for the 1995 built Suezmax tanker Front Splendour, which has surveys due this year (FRO) : Frontline will receive a compensation payment of approximately $1.3 million from Ship Finance for the termination of the current charter. Following this termination, the number of vessels on charter from Ship Finance will be reduced to 15 vessels, including 12 VLCCs and three Suezmax tankers.

5:49 am S&P futures vs fair value: -22.30. Nasdaq futures vs fair value: -52.30. :

5:49 am European Markets : FTSE...5983.39...-125.30...-2.10%.  DAX...9740.05...-208.50...-2.10%.

5:49 am Asian Markets : Nikkei...Holiday.........  Hang Seng...21796.58...+39.70...+0.20%.

5:34 am AstraZeneca announces positive data presentation for for LAMA/LABA PT003 in COPD (AZN) :

Co will present 33 abstracts from across the respiratory disease portfolio at the 2015 European Respiratory Society (ERS) meeting in Amsterdam, Netherlands, 26-30 September. Data will include results from AstraZeneca's growing inhaled portfolio of LAMA/LABA therapies, as well as findings from the company's biologics pipeline and early science programmes.

Highlights

• Serum periostin has been proposed as a surrogate biomarker for activation of the IL-13 pathway in the lung. The reduction of serum periostin by tralokinumab in subjects with severe uncontrolled asthma further supports this concept.
• IgE contributes to the signs and symptoms of asthma and IL-13 induces B cells to produce IgE. The reduction of IgE levels by tralokinumab may help explain its mechanism of action in reducing exacerbations and improving asthma control and asthma-related quality of life that were observed in a subgroup of patients in the Phase IIb trial.
• Both findings will be explored further in the ongoing STRATOS Phase III trials.

5:18 am On The Wires (:WIRES) :

• Starbucks Coffee (SBUX) announced the nationwide availability of Mobile Order & Pay on iOS and Android devices, a new feature of the popular Starbucks mobile app that allows customers to place and pay for their order in advance of their visit and pick it up at a participating Starbucks location.
• NTT (NTT) announced the immediate availability of its Enterprise Cloud solution in two new locations in Europe - Paris and Madrid. Europe's strict data protection laws mean that the location where data is hosted is as important as its security.
• Nine companies today announced the formation of an interest group to drive cost-effective utilization of duplex multimode fiber infrastructure in
  cloud and enterprise data centers. SWDM Alliance include CommScope (COMM), Corning (GLW), Dell, Finisar (FNSR), H3C, Huawei, Juniper Networks (JNPR), Lumentum (LITE), and OFS.

4:07 am On The Wires (:WIRES) :

• Stade de France made significant upgrades to its communications network infrastructure and signed CommScope (COMM) as the official supplier for its telecommunications and IT networks. 
• Kelly Services (KELYA) (KELYB) is expanding its KellyOCG talent supply chain to include additional online talent platforms. KellyOCG is the outsourcing and consulting group of Kelly Services. 
• SunPower (SPWR) announced that it supplied high efficiency SunPower solar panels for the 12-megawatt Roc du Doun solar power plant dedicated on Friday in Gros-Chastang, Correze, France. The plant is owned by La Compagnie du Vent, a subsidiary of ENGIE
• KKR (KKR) announced that it will back Roland Wessel, Colin Judd and Melvyn Horgan, founders and former management team of Star Energy, to launch Trans European Oil & Gas. Trans European Oil & Gas intends to build a portfolio of conventional onshore oil and gas properties in proven hydrocarbon plays in Europe, and apply its extensive experience in enhanced oil recovery techniques to optimise production.
• Italy-based service provider Tiscali announced it replaced legacy time-dimension multiplexing circuits and equipment based on older protocols with products and solutions from Oracle (ORCL) Communications, enabling it to offer high-quality, real-time communications services.
• HP (HPQ) announced three new enterprise class LaserJet printers that deliver increased protection against malicious attacks. The stronger security is part of a broader HP strategy to provide the deepest security across PCs and printers.

3:49 am Galapagos NV presents promising pre-clinical and Phase 1 results with autotaxin inhibitor GLPG1690 (GLPG) :

Co presents pre-clinical and Phase 1 results for autotaxin inhibitor GLPG1690 at the European Respiratory Society Annual Meeting in Amsterdam, Netherlands. Galapagos expects to file an exploratory Phase 2 study in idiopathic pulmonary fibrosis before year end. GLPG1690 has potential application in other pulmonary diseases such as COPD, as supported by the presentation on pre-clinical findings

• Galapagos is the first to show efficacy of an autotaxin inhibitor in pre- clinical models for COPD and IPF, pointing to novel therapeutic areas for autotaxin inhibition. The poster shows how GLPG1690 acts as a potent inhibitor of mouse and human autotaxin
• Furthermore, GLPG1690 reduces inflammation in a mouse steroid-resistant tobacco smoke model to a similar extent as a standard therapy for COPD.

Galapagos also presents the topline results with GLPG1690 in Phase 1 in healthy human volunteers:

• GLPG1690 was safe and well tolerated up to a single oral dose of 1500 mg and up to 1000 mg twice daily for 14 days, with no significant adverse effects on ECGs, vital signs or laboratory parameters.
• The compound also showed good oral bioavailability with a half-life of 5 hours and a dose-proportional increase in exposure. GLPG1690 showed concentration-dependent reduction of a relevant biomarker with a maximum of approximately 90%. At steady state, continuous reduction of this biomarker levels of >60% was observed from 0 to 24 hours

3:44 am Valeant Pharma's Bausch + Lomb unit and Nicox receive FDA acceptance of NDA for VESNEO (VRX) :

Valeant Pharmaceuticals wholly owned subsidiary, Bausch + Lomb, and Nicox S.A. announced that the FDA has accepted for review its New Drug Application for VESNEO, an intraocular pressure lowering single-agent eye drop dosed once daily, for patients with open angle glaucoma or ocular hypertension.

• If approved, VESNEO will be the first nitric oxide donating prostaglandin receptor agonist available for the above indication.
• The FDA has set an action date of July 21, 2016 to complete its review, as per the Prescription Drug User Fee Act

3:41 am On The Wires (:WIRES) :

• Cable ONE (CABO) has announced to customers that it will increase rates on residential high speed internet plans by $5.00 per month beginning with October 2015 billing statements. 
• Ingram Micro (IM) announced its participation in the Microsoft Cloud Solution Provider program in India. The program is designed to strengthen customer relationships and expand cloud sales

3:34 am Seadrill receives notification of cancellation of drilling contract from Husky Oil Operations (HUSKF) (SDRL) :

Seadrill has been notified by Husky Oil Operations of the cancellation of the drilling contract for the West Mira.

• In the fourth quarter of 2012 Seadrill was awarded a 5 year contract for the West Mira with Husky for operations in Canada and Greenland. The total estimated base revenue potential was approximately $1 billion. As stated in the Company's second quarter earnings report, due to the late delivery of the Unit, the Company had tentatively agreed with Husky to reduce the dayrate on the West Mira.
• The construction contract was subsequently cancelled by Seadrill due to the Shipyard's inability to deliver the Unit within the timeframe required under the contract.
• Seadrill remains in discussions with Husky to find an alternative solution to meet its drilling requirements.

3:29 am CME Group and China Securities Index signs index development and product licensing agreement (CME) :

CME Group and China Securities Index announced that they have signed an index development and product licensing agreement.

• CME Group will grant CSI a license to use certain CME Group market data for the purposes of developing, calculating and disseminating commodity indexes.
• The first product to be jointly developed will be the CSI CME Group China Commodity Consumption Index, which is based on the end-of-day settlement prices for CME Group futures contracts on Soybeans and Corn, listed on and subject to the rules of CBOT; as well as Natural Gas, West Texas Intermediate Crude Oil, and Copper, listed on and subject to the rules of NYMEX; and Gold and Silver, listed on and subject to the rules of COMEX.
• The agreement also provides for the listing, trading and clearing of derivatives products based on the commodity indexes to be developed by CSI and CME Group

3:27 am Weatherford decides not to pursue its previously announced public offerings of ordinary shares and mandatorily exchangeable subordinated notes (WFT) : Co states: "While investor interest was strong for this offering, we are unwilling to sell securities at prices that do not reflect the value we have created at Weatherford. The Company continues on its resolute course of focusing on its core businesses and the efficiency of its operations. The Company also continues to expect to deliver positive free cash flow in 2015 and years beyond, has ample liquidity, and remains focused on generating strong returns for our shareholders..."

3:24 am On The Wires (:WIRES) :

• Indiana American Water, a subsidiary of American Water (AWK), announced the company's acquisition of an investor owned water utility in north central Indiana from American Suburban Utilities. The purchase of the system increases the company's customer base by approximately 330 residents. 
• Woodside (WOPEY) has extended its relationship with Accenture (ACN) to implement predictive analytics for maintenance and process-control in production operations across its liquefied natural gas assets. Under the terms of the agreement, Woodside is using Accenture to deliver an end-to-end analytics solution for real-time actionable insights on its LNG facilities, including the Pluto LNG Plant. 
• Verso Corporation (VRS) confirmed that the New York Stock Exchange has suspended trading in Verso's common stock, effective immediately, and has commenced proceedings to delist the stock from the NYSE.
• Live Nation Australia, a Live Nation Entertainment (LYV) company, announces the renewal of its partnership with New South Wales Health
  
  

3:22 am Memorial Resource Development upsizes offering and prices 12 mln shares of its common stock at $17.60 per share (MRD) : The offering was upsized to 12,000,000 shares of common stock from the original offering size of 10,250,000 shares of common stock.

3:21 am HealthEquity prices offering of 3,000,000 shares of the company's common stock by certain stockholders; terms not immediately disclosed (HQY) :  

3:19 am Applied Materials prices $1.8 bln of senior unsecured notes (AMAT) :

Co announced the pricing of senior unsecured notes in an aggregate principal amount of $1.8 billion. The notes consist of the following tranches:

• $600 million of 2.625% senior unsecured notes due 2020
• $700 million of 3.900% senior unsecured notes due 2025
• $500 million of 5.100% senior unsecured notes due 2035

3:17 am First Midwest Banc acquires The Peoples' Bank of Arlington Heights (FMBI) :

First Midwest Bancorp announced that it has entered into a definitive agreement to acquire The Peoples' Bank of Arlington Heights.

• Peoples' Bank operates two banking offices in Arlington Heights, Illinois. The bank has approximately $95 million in deposits, of which 92% are core deposits, and $57 million in loans.

3:15 am Tempur Sealy Int'l upsizes offering by $100 mln and prices $450 million of 5.625% senior notes due 2023 (TPX) :  

3:14 am Praxair prices $300 million of 2.25% notes due 2020 and $450 million of 3.20% notes due 2026 (PX) :