4:26 pm This week’s bigger % gainers/losers (:SCANX) : The afterward are this week’s top 20 percentage gainers and top 20 allotment losers, categorized by sectors (over $300 mln bazaar cap and 100K boilerplate circadian volume).
4:23 pm Piedmont beats by $0.01, beats on revs; reaffirms FY13 EPS advice (PNY) : Letters Q2 (Apr) antithesis of $0.74 per share, $0.01 bigger than the Basic IQ Accord Appraisal of $0.73; revenues rose 29.5% year/year to $399.41 mln vs the $327.98 mln consensus.
Co reaffirms advice for FY13, sees EPS of $1.67-1.77 vs. $1.72 Basic IQ Accord Estimate.
4:18 pm Wells Fargo business assemblage barter to access instructions for remediation (WFC) : Co appear final approval by the Federal Reserve Lath of Governors for the aggregation to complete its claims and appraisal processes and atone Wells Fargo Financial, Inc. barter beneath the acceding of a 2011 agreement. On July 20, 2011, Wells Fargo & Co. and Wells Fargo Banking accomplished an acceding with the Federal Reserve Lath accompanying to assertive mortgage loans originated by Wells Fargo Banking amidst January 1, 2004 and September 30, 2008. Wells Fargo Financial, Inc. acutely accomplished operations in 2010. The acceding does not absorb loans fabricated by Wells Fargo Home Mortgage or by Wells Fargo Bank, N.A. Notifications will be mailed to Wells Fargo Banking barter articular as potentially impacted.
4:16 pm Ellington Banking letters estimated book accumulated per allotment as of May 31, 2013 of $24.74 on a adulterated abject (EFC) : Co appear that its estimated book accumulated per accustomed allotment as of May 31, 2013 was Co appear that its estimated book accumulated per accustomed allotment as of May 31, 2013 was $25.14, or $24.74 on a adulterated basis. 5.14, or Co appear that its estimated book accumulated per accustomed allotment as of May 31, 2013 was $25.14, or $24.74 on a adulterated basis. 4.74 on a adulterated basis.
4:16 pm Stillwater Mining announces retirement of CEO Frank McAllister (SWC) : Co appear today that Frank McAllister, the Company’s Arch Controlling Officer, has appear his retirement from the Company. Terrell I. Ackerman, Vice President of Accumulated Development for the Company, has agreed to serve as the acting Arch Controlling Administrator of the Company.
4:10 pm GT Advanced Tech. files shelf allotment anniversary (GTAT) : Co appear that it has filed a accustomed shelf allotment anniversary on Form S-3 with the Antithesis and Barter Commission. The shelf allotment anniversary (i) will annals the resale of the 3,355,648 shares afresh issued in affiliation with GT’s accretion of essentially all of the business of Thermal Technology LLC and (ii) is brash to accommodate GT with adaptability to accession basic and booty advantage of business opportunities if and aback such opportunities arise, accountable to bazaar altitude and GT’s basic requirements. If and aback the shelf allotment anniversary is declared effective, it will, in accession to acceptance the aegis holders of Thermal Technology to advertise the GT shares they accustomed in the acquisition, admittance GT, from time to time, to action and advertise up to $35.4 actor (based on the closing accumulated of GT’s accustomed banal on June 6, 2013) of accustomed stock, adopted stock, debt securities, units comprised of any such securities, or any accumulated thereof in one or added approaching accessible offerings. The absolute accumulated and blazon of antithesis and the acceding of those antithesis will be bent at the time of sale, if such auction occurs. At the present time, the Aggregation has no specific use of accretion or affairs to action any of the antithesis covered by the allotment statement.
4:02 pm Pzena letters May 31, 2013 assets beneath administration rose 4.0% ages over ages to $20.7 bln (PZN) :
4:02 pm Hampden Bancorp anounced that its Lath of Admiral accustomed an eighth banal repurchase affairs for the acquirement of up to ~275.5K shares, or ~5%, of the Company’s outstanding accustomed banal (HBNK) : The Aggregation will arise its eighth banal repurchase affairs anon aloft the achievement of its seventh repurchase program, appear on August 7, 2012, which has ~155.4K shares remaining.
3:56 pm Aftermost minute run to new affair highs — Dow 201, S&P 20.5, Nasdaq Atone 45.8 (SPY) :
3:48 pm SemGroup announces appraisement of $300 mln of 7.5% arch addendum (SEMG) : Co appear the appraisement of an alms of $300 actor in accumulated arch accumulated of arch apart addendum due 2021 for auction in a clandestine adjustment to acceptable purchasers. The 7.5% Addendum will complete on June 15, 2021, and are actuality issued at par. SemGroup anticipates that cleanup of the alms will action on June 14, 2013, accountable to the achievement of accustomed closing conditions, and intends to use a allocation of the net accretion from the alms to armamentarium the accretion of Mid-America Midstream Gas Services, L.L.C., a accessory of Chesapeake Action Corporation and to accord amounts adopted beneath SemGroup’s accumulated revolving acclaim facility. If, for any reason, the Accretion does not close, the net accretion will be acclimated for accustomed accumulated purposes.
3:31 pm Antithesis Preview for the anniversary of June 10 – 14 (:SUMRX) : Of the companies advertisement antithesis for the anniversary of June 10 – 14 some of the bigger names include:
3:18 pm Nasdaq Atone 39 edges to new affair aerial — Dow 182 and S&P 17 assignment able-bodied off the afternoon lows (:TECHX) :
3:01 pm AMR announces cloister enters adjustment acknowledging acknowledgment anniversary and acceding address of votes on plan of about-face (AAMRQ) : Co appear that the U.S. Bankruptcy Cloister for the Southern District of New York entered the adjustment acknowledging the Acknowledgment Anniversary filed in affiliation with the co’s proposed Plan of Reorganization. The Cloister additionally accustomed American to activate soliciting votes on the Plan of About-face from creditors and stockholders. Address bales will be broadcast by June 20 and the voting borderline is July 29. The audition afore the Cloister to accede acceptance of the Plan is appointed for Aug. 15, 2013.
The Plan is authentic by the Official Lath of Apart Creditors. Holders of ~$1.6 billion of prepetition apart claims additionally access committed to vote to access the Plan.
The proposed Plan is to become able appropriately with the cleanup of a accord with US Airways (LCC). The proposed accord is accustomed to aerate recoveries for all of the company’s bread-and-er stakeholders and the proposed Plan provides a accretion of 3.5% of the accustomed banal (on an as-converted basis) of the accumulated co for holders of absolute AMR disinterestedness securities, with the abeyant for such holders to access added shares. Beneath the acceding of the Accord Acceding with US Airways, stockholders of US Airways will access one allotment of accustomed banal of the accumulated aggregation for anniversary allotment of US Airways accustomed banal afresh held. The accumulated cardinal of shares of accustomed banal of the accumulated co issuable to holders of US Airways disinterestedness instruments will represent 28% of the adulterated disinterestedness buying of the accumulated co. The absolute 72% of the adulterated disinterestedness buying of the accumulated co will be issued beneath the Plan to AMR’s stakeholders, AMR’s action unions, and assertive advisers of AMR.
2:55 pm NYMEX Action Closing Prices (:COMDX) :
2:53 pm Titan Intl confirms has in cooperation with One Disinterestedness Ally and Russian Direct Advance Armamentarium entered into negotiations with Cordiant about a abeyant advance in Russia (TWI) : Co hopes to auspiciously complete these discussions in the a future. It is co’s acceptance that the approaching advance of agriculture and mining will be in Russia and CIS countries.
Also, Chairman and CEO commented on the accustomed bazaar bearings as co sees it through the aboriginal bristles months of 2013. “In the accomplished brace months, millions of dollars in tires access been alone into the aftermarket from the OEM’s in the acreage and architectonics industries and additionally the mining companies, who had congenital up inventories greater than a year and are now absolution these tires. This will affect every annoy architect worldwide. The absolute accumulated of tires will access an aftermarket aftereffect for a few months afore things get aback to normal. We feel that this is a bang in the alley as we access accomplished this in the past. I ahead of all the overtime and weekend assignment to aftermath tires that go into architectonics anniversary and afresh aback they see the accumulator cost, they abatement them into the aftermarket. The affairs accumulated of all our articles is action bottomward because our absolute bulk has been dropping. The guidelines that I gave in December of 2012 will be adapted downward, but I allegation to accretion out about how abundant the mining companies will be blurred their inventories… We are still affective advanced on the accretion aisle and apprehend a cardinal of these affairs to aing afore the end of this year. Overall, I still see this year as a almanac year and one that will set the advance for Titan’s growth.”
2:33 pm Dollar Holds 81.10: 10-yr: -21/32..2.157%..USD/JPY: 97.46..EUR/USD: 1.3222 (:SUMRX) : The Dollar Abject saw a quick bead to affair lows a 81.10 afterward the bigger than accustomed nonfarm bulk report, but bound bounced off the akin as barter climbed to affair highs a 81.80. Action has pulled aback slightly, but still holds baby gains. Traders will be alert of the 81.10 breadth over the advancing canicule as the Abject tested, and held, abutment at the akin in anniversary of the accomplished two sessions with buyers arising in aegis of the 200-day affective average.
2:29 pm Valeant Pharma announces filing of basic abject shelf advertisement (VRX) : Co appear that it has filed a basic abject shelf advertisement in Canada. The basic abject shelf advertisement was filed with antithesis authoritative authorities in anniversary of the ambit of Canada. Already receipts for the final abject shelf advertisement are acquired from bigoted antithesis regulators, the final abject shelf advertisement will be authentic for a 25-month aeon during which time Valeant Pharmaceuticals International, Inc. (the “Company”) may, from time to time, action and affair accustomed shares accepting an accumulated alms accumulated of up to US$3.0 billion. The specific acceding of any alms of accustomed shares will be absolute in a shelf advertisement supplement filed in affiliation with anniversary offering. As advanced appear by the Company, the Aggregation has entered into a absolute acceding beneath which the Aggregation will access Bausch Lomb Backing Incorporated. The Aggregation confirms its apprehension that such transaction will be financed with debt and about US$1.5 – $2.0 billion of new equity.
2:28 pm CBOT Agriculture and Ethanol/ICE Amoroso Closing Prices (:COMDX) :
2:25 pm S&P 11.6 and Dow 131 blooper to new afternoon lows, Nasdaq Atone 30 (SPY) :
1:55 pm COMEX Metals Closing Prices (:COMDX) :
1:23 pm N Amer Palladium announces $130 mln debt costs from Brookfield, $20 actor absolutely subscribed clandestine adjustment of flow-through shares and addendum of acclaim adeptness (PAL) : Co announces financings to armamentarium the Company’s advancing amplification of its Lac des Iles (“LDI”) abundance in Ontario. Summary:
12:48 pm Banal indices blooper hardly beneath bound midday ranges — Dow 153, S&P 13, Nasdaq Atone 30 (SPY) :
12:30 pm Chump Portfolio Serv. announces face-lifting of $100 mln acclaim adeptness (CPSS) : Co appear that on June 5, 2013 it renewed its $100 actor revolving acclaim adeptness with Citi. Beneath the adapted terms, the adeptness will circumduct during the aboriginal two years and may amortize during year three. Loans beneath the adeptness will be anchored by auto receivables that CPS now holds or will acquirement from dealers.
12:18 pm Notable movers of assimilation (:SCANX) : The afterward are some of today’s best notable movers of interest, categorized by bazaar assets (large cap over $10 billion and mid cap amidst $2-10 billion) and ranked by % change (all stocks over 100K boilerplate circadian volume).
Large Cap Gainers
Large Cap Losers
Mid Cap Gainers
Mid Cap Losers
11:59 am European Markets Closing Prices (:SUMRX) : European markets are now closed; banal markets aloft Europe performed as follows:
11:41 am Awkward oil rallying, hits new affair high; July awkward oil now 1.6% at $96.30/barrel (:COMDX) :
11:39 am Sagent Pharma initiates a civic autonomous anamnesis of three lots of Vecuronium Bromide for Injection, 10mg bogus by Mustafa Nevzat (MN Pharmaceuticals) due to animated birthmark levels (SGNT) : The animated birthmark aftereffect has the abeyant to aftereffect in abiding neuromuscular barricade for alarmingly ill patients with renal failure. Sagent is not acquainted of any adverse accommodating contest consistent from the use of this artefact and is continuing its active appraisal of the situation.
11:38 am Stocks/ETFs that traded to new 52 anniversary highs/lows this affair – New highs (169) outpacing new lows (25) (:SCANX) : Stocks that traded to 52 anniversary highs: ABFS, ACAD, ACLS, AFL, AFOP, AIR, ALEX, ALGT, ALU, ANW, ATK, ATMI, AXP, BA, BEAV, BERY, BHE, BOBE, BWC, BWS, CA, CAKE, CALD, CBOE, CBRL, CCF, CCIX, CEC, CERN, CHTP, CIEN, CITZ, CKP, CLDX, CMRE, CNW, CONN, COO, COWN, CQB, CRTX, CRVL, CSCO, CSFL, CTGX, CTRP, DANG, DENN, DLPH, DXCM, DXYN, EA, ECPG, ECTE, EFII, EFSC, EMES, ENDP, EPAM, ESLT, EXAS, FELE, FET, FFG, FFNW, FII, FIX, FIZZ, FLEX, FLTX, FRM, FRME, FRX, GD, GEF, GNRC, GPS, GY, GZT, HARL, HELE, HEOP, HGG, HILL, HOGS, IBKR, IDT, INFN, ININ, ISSI, ITG, JMBA, JOUT, KAI, KIRK, KKD, KMG, KTOS, LPNT, LXK, LYG, MANH, MDM, MENT, METR, MFRI, MGAM, MS, MTSN, MU, MVIS, NHTB, NLNK, NUTR, NVTL, OAS, OMG, OPAY, OPLK, OSTK, OTEX, PBCP, PCO, PCP, PFPT, PNX, PPC, PRI, PRO, PRSC, PRU, PSUN, PWRD, RAD, RLD, RRGB, SAPE, SCOR, SFG, SFLY, SGMS, SMP, SMRT, SNPS, SNX, SOFO, SONS, SPA, SPB, STL, SWM, SYA, TAM, TCBK, THO, TPL, TRS, TTEC, TTS, UMPQ, USPH, VNTV, VPG, WAIR, WLDN, WSBF, XLS, ZINC, ZLC
Stocks that traded to 52 anniversary lows: ACC, AVL, CDY, CNCO, DVCR, FFN, HSKA, IRM, NBG, OINK, OSN, OXBT, PAY, PGRX, RIGL, RIOM, SID, SQM, TCL, USAP, USM, VALV, WLT, XIDE, XNPT
ETFs that traded to 52 anniversary highs: EIS, GULF
ETFs that traded to 52 anniversary lows: EPU, FXA, KOL
11:18 am Qualcomm beneath burden but appropriately far has counterbalanced a the bristles ages aing low from April at 61.52 — affair low 61.50 (QCOM) : The intraday animation aerial afterwards extensive 61.50 is at 61.90.
11:05 am Bill Commentary: DXY Pushes College Post-Jobs (:SUMRX) :
11:03 am St. Jude Medical signs disinterestedness advance and advantage to acquirement acceding with Spinal Modulation (STJ) : Co and privately-held Spinal Modulation appear that they access entered into a alternation of agreements beneath which St. Jude Medical fabricated a $40 actor disinterestedness advance in Spinal Modulation, a aggregation that has developed an avant-garde neuromodulation appraisal that provides a new affliction administration advantage for patients with chronic, awkward pain. The acceding provides St. Jude Medical with an absolute advantage to administer the Axium Neurostimulator System, developed and bogus by Spinal Modulation, in all-embracing markets breadth it is accustomed for sale. Additionally, St. Jude Medical will access the absolute advantage to access the aggregation for up to $300 actor added assertive revenue-based milestones afterward U.S. commercialization.
10:50 am Minor new highs alcove abbreviate appellation attrition zones — Dow 186, S&P 17, Nasdaq Atone 32 (SPY) : Acclaimed attrition at 1640/1642 for the S&P in The Abstruse Booty with this morning able chase through extensive as aerial at 1639.85 in contempo trade. Attrition for the Dow is at 15220/15229 (session aerial 15229) and 3455/3463 Nasdaq Atone (session aerial 3457).
10:41 am S&P 16 joins Dow 182 at new high, Nasdaq Atone 29 still aerial aloof beneath (SPY) :
10:27 am Minor new affair aerial Dow 161, S&P 15.8 and Nasdaq Atone 26.7 are aerial hardly beneath their peaks (SPY) :
10:14 am FIrst Aegis Accession shares trading lower by 56% afterward anniversary bygone afterwards the aing that aggregation appear that its advanced filed Allotment Anniversary on Form S-1 was declared able by the SEC (FSGI) : The Allotment Anniversary will accredit assertive affairs shareholders to resell up to ~60.735 mln shares of the Company’s Accustomed Stock. The affairs shareholders may resell all or a allotment of their shares from time-to-time, but the Aggregation is not currently acquainted of any affairs by its shareholders to do so. The Aggregation is not affairs any shares of its Accustomed Banal beneath the Allotment Anniversary and will not access any accretion from the resale by the affairs shareholders. All ~60.735 mln shares of accustomed banal that were registered for resale were issued during the Company’s advanced appear recapitalization which bankrupt on April 11-12, 2013.
10:13 am Awkward oil extends assets and hits a new affair aerial (:COMDX) : July awkward oil is now 1.0% at $95.72/barrel.
10:11 am Solid chase through assets for banal indices — Dow 153, S&P 16, Nasdaq Atone 27 (SPY) :
10:05 am Awkward oil moves aback into absolute territory; July awkward is now 0.2% at $94.91/barrel (:COMDX) :
10:03 am Amazon.com flirts with May highs at 271.79/271.91 for fifth time over aftermost three weeks — affair aerial 271.50 (AMZN) :
10:01 am Triumph Accession called to architectonics and anatomy assembly sections and added apparatus for Embraer (ERJ) added bearing of E-Jets; arrangement anniversary ~ $1.7 bln over lifetime (TGI) : Co appear that its subsidiary, Triumph Aerostructures-Vought Aircraft Division, has been called to architectonics and anatomy the centermost assembly breadth III, rear assembly breadth and assorted appendage breadth apparatus (rudder and elevator) for Embraer’s (ERJ)second-generation E-Jet family. The arrangement is anniversary about $1.7 billion over its lifetime. The company’s advance in the program, including basic and architectonics activities, will be about $130 actor which will be advance over the aing four years. Planned to access anniversary in 2018, the affairs is accustomed to barrage afterwards this year. Spending in FY 2014 will be about $25 million.
9:59 am Nasdaq Atone 16 and Dow 90 set new affair highs, S&P 9.4 testing its aiguille (:TECHX) :
9:48 am Elan issues acknowledgment to Royalty Pharma announcement: Lath will appraise the offer, advises shareholders booty no action (ELN) : The Lath of Elan addendum today’s advertisement apropos the revised action by Echo Pharma Accretion Bound to access Elan’s shares beneath Rule 2.5 of the Irish Takeover Rules.
The Lath of Elan will, as before, in band with its obligations beneath Irish Takeover law, appraise the Royalty Pharma advertisement and will admonish its shareholders accordingly. In the meantime, Elan shareholders are acerb brash to booty no action in affiliation to the Royalty Pharma offer.
9:47 am S&P 400 Mid-Cap hardly weaker, Russell 2000 aback aerial a collapsed band (:TECHX) :
9:44 am SPDR Homebuilders advertisement about weakness as it block into the red (XHB) : MHK -1.2%, SPF -1.2%, TPX -0.9%, TOL -0.5%, OC -0.6%, WHR -0.7%.
9:42 am Sector about backbone (:TECHX) : Assets are ample based with the aloft averages aerial hardly beneath aboriginal peaks. Sectors that access displayed about backbone (outperforming the S&P) include: Biotech IBB (BIIB, CELG, GILD, REGN, AMGN, MYGN, SGEN, VRTX, ALXN), Restaurant, Transports IYT, Health XLV, Staples XLP, Software IGV (CA, CRM, ADSK).
9:37 am Semiconductor Hldrs ETF block aback into the red afterwards firmer alpha (SMH) : ARMH -2%, INTC -1.6%, SNDK -0.8%, ALTR -0.4%, AMD -0.1%.
9:35 am Baidu.com edges aloft 200 sma/ema, acid its May/four ages aerial at 100.68 (BIDU) :
9:30 am Grupo Aeroportuario del Pacifico May Passengar Cartage 9.3% (PAC) :
9:28 am Wal-Mart Lath approves new $15 bln allotment repurchase program, able June 6, 2013 (WMT) : This affairs replaces the antecedent $15 billion affairs appear on June 3, 2011. As of June 6, the aggregation had about $712 actor absolute on the 2011 Authorization.
9:26 am Sasol provides Arch Banking Administrator Update; A 13% weaker boilerplate rand/US dollar barter bulk abnormally impacted banknote anchored costs for the nine months concluded 31 March 2013 (SSL) : “A 13% weaker boilerplate rand/US dollar barter bulk R8,64/US$ at 31 March 2013) abnormally impacted banknote anchored costs for the nine months concluded 31 March 2013. Banknote anchored costs, excluding once-off, advance costs and the appulse of barter rates, access added aloft inflation, consistent primarily from added labour, electricity and aliment costs. We abide to accommodate the appulse of electricity bulk increases, through the utilisation of our own electricity bearing capacity. In anniversary of labour costs, we are entering into allowance negotiations over the advancing months with our represented unions….Free banknote breeze for the nine months to 31 March 2013, added by 18% compared to the above-mentioned year commensurable period, acceptance the accession to advance its able antithesis sheet. Our advantageous banknote breeding adeptness has accustomed us to auspiciously sustain our accustomed operations and armamentarium our accustomed advance aspirations, while still carrying adorable allotment to our shareholders.”
9:25 am On The Affairs (:WIRES) :
9:22 am Grupo Aeroportuario del Pacifico letters during May, absolute terminal cartage added 9.3% compared to the antecedent year (PAC) : Co appear basic terminal commuter cartage abstracts for the ages of May 2013 compared to cartage abstracts for May 2012. Absolute terminal cartage added 9.3% compared to the antecedent year. Domestic commuter cartage added 9.9%, while all-embracing commuter cartage added 8.1% compared to May 2012.
9:22 am Commodities extend losses as the dollar abject rises, hitting new HoD. Gold, argent and awkward oil aloof hit new affair lows (:COMDX) :
9:21 am IntercontinentalExchange letters almanac circadian accumulated in the ICE U.S. Dollar Abject (:USDX) futures bygone (ICE) : Co appear almanac circadian accumulated in the ICE U.S. Dollar Abject (:USDX) futures arrangement of 116,372 affairs on June 6, 2013. The abstract accumulated of USDX affairs traded was ~$9.5 billion. The antecedent circadian accumulated almanac of 88,394 affairs was accustomed on March 13, 2013. Year to date through May, ADV for the USDX is 34,707, up 27% over the aforementioned aeon aftermost year.
9:15 am S&P futures vs fair value: 11.20. Nasdaq futures vs fair value: 13.20. (:WRAPX) : The S&P 500 futures barter college by 0.7% as today’s affair sets up for a college open. The accumulated of the pre-market assets followed today’s May nonfarm payrolls report, which acicular to the accession of 175,000 jobs. However, the unemployment bulk ticked up to 7.6% from 7.5% due to an access in the action force accord rate.
The band bazaar displayed animation afterward the release, but closing affairs aloft the Treasury circuitous ran the 10-yr crop college by three abject credibility to 2.115%.
9:15 am Rite Aid guides Q1 EPS aloft consensus; lowers FY14 EPS by $0.01 to reflect refinancing; raises low end of FY14 adj. EBITDA, reaffirms FY14 rev, atone advice (RAD) : Co issues upside advice for Q1 (May), sees EPS of $0.08-0.09 vs. $0.07 Basic IQ Accord Estimate. Rite Aid estimates that Adapted EBITDA was amidst $335 actor and $345 actor for Q1, compared to Adapted EBITDA of $274.2 actor for the commensurable prior-year period. The advance in after-effects over the commensurable prior- year aeon was abundantly apprenticed by the connected anniversary of new all-encompassing introductions on pharmacy gross margin.
Co issues advice for FY14 (Feb), lowers EPS by $0.01 (to reflect refianncing transaction) to $0.04-0.19 vs. $0.15 Basic IQ Accord Estimate; reaffirms FY14 (Feb) revs of $24.9-25.3 bln vs. $25.23 bln Basic IQ Consensus; reaffirms comps. Based on the estimated after-effects of aboriginal appraisal budgetary 2014, Rite Aid has aloft the low end of its adj. EBITDA advice to $1.090 billion. The aerial end of the Adapted EBITDA advice for budgetary 2014 charcoal at $1.175 billion based on the apprehension that after-effects in the added bisected of the budgetary year will be abnormally impacted by lower pharmacy allowance consistent from beneath all-encompassing biologic introductions.
Co has commenced a debt refinancing transaction that would extend the ability of a allocation of Rite Aid’s outstanding acknowledgment and lower assimilation expense. The refinancing transaction consists of a banknote breakable action for any and all of Rite Aid’s $500.0 actor accumulated arch accumulated of 7.5% Arch Anchored Addendum due 2017 with the accretion from a new $500.0 actor added affirmation appellation loan, calm with accessible banknote and/or borrowings beneath Rite Aid’s revolving acclaim facility.
9:08 am Awkward oil extends losses, July awkward avalanche beneath $94/barrel. In accustomed trade, July awkward is -0.8% at $94.04/barrel (:COMDX) :
9:03 am European Markets Update: FTSE 0.2%, CAC 0.6%, DAX 0.7% (:SUMRX) : Aloft European indices barter a their affair highs. In bounded bread-and-er data, the German barter surplus climbed to EUR17.7 billion from EUR17.6 billion (EUR17.2 billion forecast). Meanwhile, automated assembly added 1.8% month-over-month (-0.2% expected, 1.2% prior). Additionally of note, the German Bundesbank has bargain its 2013 and 2014 GDP forecasts. This year’s GDP expectations were bargain to advance of 0.3% adjoin the above-mentioned apprehension of 0.4%. Meanwhile, the 2014 apprehension was bargain to 1.5% from 1.9%. Elsewhere, the French anniversary arrears widened to EUR66.8 from EUR31.0 billion. In addition, the barter arrears was appear at EUR4.5 billion (-EUR4.7 billion expected, -EUR4.5 billion prior). The United Kingdom’s barter arrears narrowed to -GBP8.2 billion from -GBP9.2 billion (-GBP8.8 billion expected).
9:03 am Omnicom: Ketchum, a allotment of Adapted Agency Services, a appraisal of Omnicom Accession (OMC) acquired Brandzeichen, a cast accessible relations agency; banking acceding not appear (OMC) :
9:02 am Murphy Oil letters able-bodied aftereffect adopted Australia; able-bodied encountered over 20 anxiety of net gas condensate pay (MUR) : Co appear today, through its wholly endemic subsidiary, Murphy Australia WA-408-P Oil Pty Ltd., the able-bodied after-effects of the non-operated Bassett West-1 able-bodied in the Browse basin adopted Western Australia.
The able-bodied encountered over 20 anxiety of net gas condensate pay. The affiliation accession will be d added abstruse appraisal to appraise the abeyant for bigger backlog development aloft this ample structure. The accession begin in this wellbore is non-commercial and the Aggregation expects to bulk this able-bodied in the added quarter.
9:02 am Coffer of America announces accretion of all $5 mln outstanding amphibian bulk MMCapSSM of advance basic affirmation IV (BAC) : Co appear today that it will abide a accretion apprehension to the institutional trustee for Advance Basic Affirmation IV, which will aftereffect in the accretion of all $5 actor accumulated defalcation accumulated outstanding of the affirmation adopted antithesis of Advance Basic Affirmation IV appointed as the Amphibian Bulk MMCapSSM. The accretion date for these antithesis will be July 7, 2013, and the banknote accretion accumulated to be paid on the accretion date will be $1,000 per affirmation adopted security. Accrued distributions for the abounding accustomed anniversary administration aeon of $9.1685 per affirmation adopted aegis will be paid to holders of almanac at the aing of business on June 22, 2013 in the accustomed manner. Coffer of America has accustomed all all-important approvals for these redemptions.
9:01 am S&P futures vs fair value: 8.50. Nasdaq futures vs fair value: 10.70. (:WRAPX) : U.S. disinterestedness futures hover a their pre-market highs with the S&P 500 futures up 0.5%.
Asian markets endured accession asperous affair as best aloft indices registered losses. Afterward the aciculate yen assemblage during the U.S. session, Japan’s Accounts Minister Taro Aso said there are no affairs for an absolute action in the adopted barter markets. In accession the Health Ministry said it will acquiesce its alimony armamentarium to alter its backing abroad from bonds. Bounded bread-and-er abstracts was bound to aloof a scattering of reports. Japan’s Arch Abject climbed to 99.3 from 97.9 (98.8 expected). South Korea revised its aboriginal appraisal GDP anniversary bottomward to 0.8% from 0.9% (0.9% expected). Additionally of note, Australia’s AIG Architectonics Abject ticked up to 35.3 from 35.2.
Major European indices barter a their affair highs. In bounded bread-and-er data, the German barter surplus climbed to EUR17.7 billion from EUR17.6 billion (EUR17.2 billion forecast). Meanwhile, automated assembly added 1.8% month-over-month (-0.2% expected, 1.2% prior). Additionally of note, the German Bundesbank has bargain its 2013 and 2014 GDP forecasts. This year’s GDP expectations were bargain to advance of 0.3% adjoin the above-mentioned apprehension of 0.4%. Meanwhile, the 2014 apprehension was bargain to 1.5% from 1.9%. Elsewhere, the French anniversary arrears widened to EUR66.8 from EUR31.0 billion. In addition, the barter arrears was appear at EUR4.5 billion (-EUR4.7 billion expected, -EUR4.5 billion prior). The United Kingdom’s barter arrears narrowed to -GBP8.2 billion from -GBP9.2 billion (-GBP8.8 billion expected).
9:01 am WSP Backing explains abortion to book Form 20-F on a appropriate basis; co adumbrated that administration access encountered abrupt delays in commutual the co’s circumscribed banking statements (WH) : Information all-important for the filing of a complete and authentic address on Form 20-F cannot be accumulated and brash aural the assigned time period. The Aggregation charcoal committed to commutual its Form 20-F at the ancient accessible time, and anticipates its achievement by August 2013 or such afterwards time to be announced.
9:01 am Biolase Names accustomed administrator Alexander Arrow President and Arch Operating Administrator (BIOL) : Co appear that medical technology controlling and accustomed Administrator Alexander Arrow has been called President and Arch Operating Officer. Arrow will address anon to Federico Pignatelli, the Chairman and Arch Controlling Officer. From 2007 through 2012, Dr. Arrow was the Arch Banking Administrator of Arstasis.
8:57 am Gold, silver, nut and awkward oil are all accepting formed (:COMDX) : All alone acutely in contempo minutes, all hitting new affair lows. In accustomed trade:
8:49 am On The Affairs (:WIRES) :
8:48 am Asian Markets Close: Nikkei -0.2%, Hang Seng -1.2%, Shanghai -1.3% (:SUMRX) : Asian markets endured accession asperous affair as best aloft indices registered losses. Afterward the aciculate yen assemblage during the U.S. session, Japan’s Accounts Minister Taro Aso said there are no affairs for an absolute action in the adopted barter markets. In accession the Health Ministry said it will acquiesce its alimony armamentarium to alter its backing abroad from bonds. Bounded bread-and-er abstracts was bound to aloof a scattering of reports. Japan’s Arch Abject climbed to 99.3 from 97.9 (98.8 expected). South Korea revised its aboriginal appraisal GDP anniversary bottomward to 0.8% from 0.9% (0.9% expected). Additionally of note, Australia’s AIG Architectonics Abject ticked up to 35.3 from 35.2. Looking at the currencies…USDCNY beneath to 6.1335; USDINR ticked up to 57.066; USDJPY is lower at 96.12; AUDUSD is lower a .9528. In Japan, the Nikkei bankrupt -0.2% afterwards actuality bottomward as abundant as 2.9% afore staging a aciculate backlash to the tune of about 500 points. The notable fasten off the lows was attributed to a ample ETF acquirement by the Coffer of Japan. Exporters Bridgestone and Isuzu both absent a 4.8% while Tokyo Electric Power Aggregation rallied 8.4%.
In Hong Kong, the Hang Seng concluded -1.2% amidst weakness in financials as Coffer of China and HSBC Backing acclimatized lower by 8.0% and 1.5%, respectively. On the upside, Belle All-embracing Backing rose 2.8%…In China, the Shanghai Composite acclimatized -1.3% as alternate names lagged. Tianjin Marine Shipping and Zhuhai Boyuan Advance both absent a 10.0%.
In India, the Sen bankrupt -0.5%. Tata Motors fell 1.6% and State Coffer of India beneath 1.2%. On the upside, Dr. Reddy’s Laboratories rose 2.5%.
In Australia, the ASX acclimatized -0.9%. Intrepid Mines and Northern Adamant concluded with agnate losses of 18.3% and 11.3%. Meanwhile, Dart Action jumped 10.0%.
In added bounded markets…Taiwan UNCH…South Korea -1.8%…Thailand 1.8%…Philippines 1.4%…Singapore -0.3%…Malaysia 0.3%…Vietnam 1.4%…Indonesia -2.7%.
8:47 am Thinly traded Waterstone Banking announces aftermost night a plan to advertise added banal and catechumen to absolutely accessible aggregation (WSBF) : Co appear that its Lath of Directors, calm with the Boards of Admiral of Lamplighter Banking and the Bank, access absolutely adopted a Plan of About-face and ReorganizationPursuant to the Plan of Conversion, the MHC will advertise its majority buying in the Aggregation in a “second-step” banal offering. Simultaneously, the Company, which is currently in the alternate captivation aggregation structure, will accommodate to a absolutely accessible banal captivation company.
As allotment of the about-face and reorganization, the Coffer will become a wholly endemic accessory of a new captivation company, which additionally will be called Waterstone Financial. Shares of accustomed banal of the Aggregation captivated by bodies added than the MHC will be adapted into shares of accustomed banal of the new captivation aggregation pursuant to an barter arrangement brash to bottle the allotment buying interests of such persons. In the banal offering, depositors of the Coffer with condoning deposits as of December 31, 2011 will access aboriginal antecedence to acquirement the shares of accustomed stock.
8:47 am AMAG Pharma announces its European bartering partner, Takeda Pharmaceutical (TKPYY), has submitted a type-II aberration to the European Medicines Agency for Rienso (ferumoxytol) (AMAG) : Co appear that its European bartering partner, Takeda Pharmaceutical (TKPYY), has submitted a type-II aberration to the European Medicines Agency for Rienso (ferumoxytol). The acquiescence requests EMA approval to aggrandize the adumbration for ferumoxytol aloft the accustomed adumbration for the appraisal of adamant absence anemia in developed patients with abiding branch ache to accommodate all developed patients with IDA who access a history of unsatisfactory articulate adamant appraisal or in whom articulate adamant cannot be used. If accustomed for this indication, we accept that Rienso could accommodate a new appraisal advantage for adamant absence anemia patients who cannot abide or do not acknowledge to articulate adamant therapy.”
8:45 am Southwest Air May RPM 4.2% (LUV) : Co appear that the Aggregation flew 9.3 bln acquirement commuter afar in May 2013, a 4.2 percent access from the 9.0 bln RPMs aureate in May 2012. Accessible bench afar added 3.4 percent to 11.4 bln from the May 2012 akin of 11.0 bln. The May 2013 bulk agency was 81.9 percent, compared to 81.3 percent in May 2012. For May 2013, commuter acquirement per ASM (:PRASM) is estimated to access decreased about two percent compared to May 2012.
8:34 am Gold and argent access both asleep its losses afterward the jobs abstracts and are affective college now (:COMDX) : Apr gold is -0.25 at $1412.50/oz, July argent is -0.5% at $22.60/oz.
8:34 am S&P futures vs fair value: 5.20. Nasdaq futures vs fair value: 5.00. (:WRAPX) : Disinterestedness futures jumped to their highs in acknowledgment to a better-than-expected banderole nonfarm payrolls number.
May nonfarm payrolls came in at 175K adjoin the 159K accustomed by the Briefing.com consensus. Nonfarm clandestine payrolls added 178K adjoin the 175K consensus. The unemployment bulk was appear at 7.6%, worse than the Briefing.com accord which accustomed the bulk to abide banausic at 7.5%.
Hourly antithesis were banausic while the Briefing.com accord accustomed an uptick of 0.2%. Boilerplate workweek was appear at 34.5, which was in-line with the Briefing.com consensus.
8:33 am Prospect All-around Assets appear its accommodation to extend its advanced appear rights alms to Monday, June 10, 2013 (PGRX) : Co appear its accommodation to extend its advanced appear rights alms to Monday, June 10, 2013. Stockholders who access not acclimatized their rights may still do so aural the addendum period. Those stockholders whose shares are captivated through a allowance account, coffer or added nominee, will allegation to accommodate advance instructions to the nominees not afterwards than Monday, June 10, 2013. The rights alms was originally appointed to expire on June 6, 2013.
8:32 am Pandora Media appear adviser hours for Pandora during the ages of May 2013 were 1.35 bln, an access of 22% from 1.10 billion during the aforementioned aeon aftermost year (P) : Allotment of absolute U.S. radio alert for Pandora in May 2013 was 7.29%, an access from 5.80% at the aforementioned time aftermost year. Active admirers were 70.8 actor at the end of May 2013, an access of 33% from 53.3 actor during the aforementioned time aeon aftermost year.
8:32 am Sparton Corporation accessory completes accretion of assertive assets of Creonix; accretion is accustomed to be accretive to antithesis aural the aing 9-12 months (SPA) : Co announces that its wholly endemic subsidiary, Sparton Electronic Devices, LLC completed the accretion of assertive assets of Creonix, a $12 mln acquirement business, on June 6, 2013 in an all-cash transaction. “Since there will not be an accession of cogent anchored aerial in Brooksville accompanying to this transaction, we apprehend Creonix’s acquirement to enhance Circuitous System’s EBITDA. The accretion is accustomed to be accretive to antithesis aural the aing 9-12 months, already transitioning activities are completed.”
8:32 am Gold alone about $11, beneath $1400, to a new LoD afterward the jobs number; argent additionally alone to a new LoD. In energy, awkward oil confused college (:COMDX) :
8:31 am Bazaar View: Front-month Jun. E-mini abject futures jump to the best levels of the morning afterward the 8:30 a.m. ET absolution of the May Employment Report- ESm3 currently trades 1630.00 7.25 (:TECHX) :
8:10 am Scientific Amateur to accommodate burning tickets and accommodating casework to South Carolina Education Action (SGMS) : Co appear that it has active an burning admission and accommodating casework arrangement with the South Carolina Education Lottery. The new arrangement provides for d architectonics and development, manufacturing, warehousing, administration and business abetment for burning action games, as able-bodied as anniversary administration and accompanying services. The five-year contract, which begins on October 1, 2013, was awarded through a aggressive accretion action and includes an advantage for SCEL to extend the arrangement for an added two years.
8:09 am Ampio Pharma issues anniversary apropos ambiguous Gluttonous Alpha blog; states co has no affairs to do an added costs at this time (AMPE) : Co has called to acknowledge to a Gluttonous Alpha blog access acquaint by Joe Dredly of Greenwich Research. The aggregation wants to assure the actor abject that the alteration of our advertisement to the NYSE MKT is brash to advice assure the shareholders’ interests and the aggregation has no affairs to do an added costs at this time. Michael Macaluso, Ampio’s Chairman and CEO, acclaimed that Mr. Dredly’s commodity “50 Shades of Gray…” declared to be in the best assimilation of the shareholders aback it was acutely brash to accident the absolute shareholders by triggering a bottomward burden on their banal holdings. It is important to accept that the Dredly commodity is predominately a diffuse citation from a December 2011 commodity by an bearding blogger calling himself the “Banker”, additionally appear on the Gluttonous Alpha blog. Tellingly, Mr. Dredly did not acquiesce the readers to apperceive the character of the columnist of this antecedent article.
8:07 am Edison’s Southern California Edison announces affairs to retire San Onofre nuclear breeding station; co to address a allegation in Q2 of $300-425 mln as a aftereffect (EIX) : Co Southern California Edison (:SCE) has absitively to assuredly retire Units 2 and 3 of its San Onofre Nuclear Breeding Base (:SONGS).
Both SONGS units access been shut bottomward cautiously aback January 2012. Assemblage 2 was taken out of anniversary Jan 9, 2012, for a planned accustomed outage. Assemblage 3 was cautiously taken offline Jan 31, 2012, afterwards base operators detected a baby aperture in a tube central a beef architect bogus by Mitsubishi Abundant Industries (MHI). Two beef generators bogus by MHI were installed in Assemblage 2 in 2009 and two added were installed in Assemblage 3 in 2010, one of which developed the leak.
In affiliation with the decision, SCE estimates that it will almanac a allegation in the Q2 of amidst $450-650 mln afore taxes ($300-425 mln afterwards tax), in accordance with accounting requirements.
8:06 am Bona Blur Secures RMB200 Actor Acclaim Adeptness From China Minsheng Coffer (BONA) : Co annoucnes it has entered into a adept acclaim band acceding with China Minsheng Bank, which has agreed to accommodate a alternate revolving acclaim band in the accumulated of RMB200 actor (approximately US$34.2 mln) for a appellation of three years. The acclaim band will be acclimated to armamentarium the connected amplification of the co’s movie amphitheater business and the co’s blur assembly business, administration business and circadian operations.
8:06 am Silicon Labs to access Action Micro for upfront acquittal of $115 mln in cash, added ~ $55 mln in deferred and earn-out consideration; accord to be accretive on a non-GAAP abject by end of FY14 (SLAB) : Co has active a absolute acceding to access Action Micro AS. Based in Oslo, Norway, the late-stage a captivated aggregation offers the industry’s best power-efficient portfolio of 32-bit microcontrollers (MCUs) and is developing multi-protocol wireless RF solutions based on the industry-leading ARM? Cortex-M architecture. Action Micro’s energy-friendly MCU and radio solutions are brash to accredit a ample ambit of power-sensitive applications for the Internet of Things (IoT), acute energy, home automation, aegis and carriageable electronics markets.
This cardinal accretion accelerates Silicon Labs’ advance opportunities and positions the co as the foremost innovator in energy-friendly anchored solutions.
Under the agreement, the shareholders of Action Micro will access an up-front acquittal of $115 actor in cash, added ~$55 actor in deferred and earn-out consideration. The accretion is actuality adjourned from antithesis breadth banknote assets and will crave no borrowing. Action Micro is accustomed to accord ~$7 actor in acquirement in the added bisected of 2013. Advancing advance is accustomed to acquiesce the transaction to be accretive on a non-GAAP abject by the end of 2014. The boards of anniversary co access accustomed the acquisition, which awaits the achievement of accustomed closing conditions. The accord is accustomed to aing in July 2013. Added banking capacity and advice will be provided in the Silicon Labs’ added appraisal antithesis alarm planned for July 25, 2013.
8:06 am Arena Pharm appear today on the barrage of BELVIQ; BELVIQ will be accessible to patients by decree in US pharmacies alpha June 11 (ARNA) : Co appear today on the barrage of BELVIQ (pronounced BEL-VEEK) in the United States. BELVIQ will be accessible to patients by decree in US pharmacies alpha June 11. Eisai Inc. is amenable for the business and administration of BELVIQ beneath its acceding with Arena Pharmaceuticals GmbH, a wholly endemic accessory of Arena Pharmaceuticals, Inc.
BELVIQ is accustomed by the US Food and Biologic Administration for use as an accessory to a reduced-calorie diet and added concrete action for abiding weight administration in developed patients with an antecedent anatomy accumulation abject (BMI) of 30 kg/m2 or greater (obese), or 27 kg/m2 or greater (overweight) in the appearance of at atomic one weight-related comorbid action (e.g., hypertension, dyslipidemia, blazon 2 diabetes). The adumbration includes the afterward limitations of use: The affirmation and ability of coadministration of BELVIQ with added articles brash for weight accident and the aftereffect of BELVIQ on cardiovascular anguish and bloodshed access not been established.
8:05 am TeleTech secures a $700 mln, five-year acclaim adeptness with an accordion affection to access up to $1 bln (TTEC) : Co appear that it has entered into a $700 million, five-year, multi-currency revolving acclaim adeptness with an accordion affection that permits, beneath assertive conditions, an access in absolute commitments up to $1 billion. The acclaim adeptness will accommodate TeleTech with added banking adaptability beneath added favorable acceding to armamentarium alive capital, arbitrary investments and basic distributions, forth with amoebic and asleep advance initiatives, including cardinal acquisitions.
8:05 am Gafisa S.A. confirms auction of 70% pale in Alphaville to Blackstone (BX) and Patria (GFA) : Co appear it has active an acceding to advertise a majority pale in Alphaville Urbanismo S.A., the arch burghal association development aggregation in Brazil, account AUSA at an disinterestedness accumulated of R$2.01 billion, to clandestine disinterestedness firms Blackstone Real Estate Advisors L.P. (BX) and P?tria Investimentos. Gafisa additionally agreed to complete the acquirement of the outstanding 20% pale in Alphaville which it did not already own, finalizing the adjudication process.
The auction to Blackstone and Patria Investimentos will acquiesce Gafisa to absorb 30% of the aggregation and accomplish accustomed gross banknote accretion of R$1.4 billion. Blackstone and Patria Investimentos will advance the absolute Alphaville administration team, led by Marcelo Willer, which has apprenticed industry-leading advance and allotment at the brand. Afterward the transaction, Alphaville will abide an associate to Gafisa and the Aggregation will abide to comedy a cogent role in Alphaville, with assembly confined as admiral on the lath with two out of six seats.
Additionally, Gafisa entered into an acceding with Alphaville’s founding ally to complete the acquirement of the outstanding 20% pale in Alphaville for a absolute appliance of R$367 million.
8:04 am Oclaro announces retirement Of Chairman and CEO Alain Couder; names Greg Dougherty CEO and Marissa Peterson Armchair (OCLR) : Co appear that Alain Couder, the Company’s armchair and arch controlling officer, has retired and that the lath of admiral has called Greg Dougherty, Oclaro lath member, as arch controlling administrator able immediately. The co additionally appear that Marissa Peterson, Oclaro lath member, has been adopted as chair.
Greg Dougherty has served as an Oclaro lath affiliate aback 2009, and brings to the CEO role abundant leadership, operations, sales, business and accustomed administration acquaintance in the optical and laser industries, including antecedent roles as arch operating administrator of JDSU, and arch operating administrator of SDL.
8:04 am TiVo confirms it settles apparent action with Cisco (CSCO), Motorola (GOOG) and Time Warner Cable (TWC) for $490 mln; increases banal repurchase allotment to $200 mln with affairs to access admeasurement of accustomed 10b5-1 plan; TIVO expects net assets and Adapted EBITDA to anniversary from lower action absorb in the of FY14 and aloft (shares halted) (TIVO) : Co appear that it has acclimatized its awaiting apparent action with Motorola (now endemic by Google (GOOG) and Arris, Cisco (CSCO) and Time Warner Cable (TWC) and that TiVo has agreed to access into assertive apparent licensing arrange with Arris, Cisco, and Google. As allotment of the settlement, Google and Cisco will pay TiVo an upfront lump-sum acquittal of $490 mln, bringing the absolute from awards and settlements accompanying to the use of assertive TiVo bookish acreage to about $1.6 bln.
In affiliation with acknowledging the acceding of the settlement, TiVo’s lath of admiral additionally accustomed a aloft amplification of TiVo’s banal repurchase authorization. The board’s action doubles the admeasurement of the allotment from $100 mln to $200 mln and extends the banal repurchase plan for an added two years until August 29, 2015. Additionally, TiVo intends to access the admeasurement of its 10b5-1 trading plan decidedly as a result. This will acquiesce TiVo to anatomy on the about $57 mln anniversary of disinterestedness acquired through accessible bazaar purchases and from tax withholdings on agent belted allotment vesting aback the time the lath of admiral aboriginal accustomed the $100 mln banal repurchase plan. This added and continued repurchase allotment agency TiVo will access over $160 mln of bare banal repurchase authorization. As allotment of the settlement, TiVo and Motorola, Cisco, and Time Warner Cable agreed to aish all awaiting action amidst the companies.
TiVo will admit a allocation of the acquittal as accomplished amercement during the added appraisal and the over time. The aggregation intends to accommodate added capacity apropos the timing of acquirement acceptance in its added appraisal budgetary year 2014 antithesis report. Further, as a aftereffect of this settlement, TiVo expects net assets and Adapted EBITDA to anniversary from lower action absorb in the of its budgetary year catastrophe January 31, 2014 and beyond.
8:02 am S&P futures vs fair value: -0.30. Nasdaq futures vs fair value: -3.70. (:WRAPX) : U.S. disinterestedness futures barter hardly lower amidst alert beyond action. The S&P 500 futures display a accident of 0.1% with some volatility expected to beleaguer the 8:30 ET absolution of May nonfarm payrolls. The Briefing.com accord expects the anniversary to appear in at 159,000.
Looking at brief developments:
In U.S. accumulated news:
In accession to the advanced mentioned nonfarm payrolls report, May nonfarm clandestine payrolls, the unemployment rate, alternate earnings, and the boilerplate workweek will all be appear at 8:30 ET. The day’s bread-and-er anniversary will be topped off by the 15:00 ET address on April chump credit.
8:02 am Planet Acquittal abatement of restrictions on REG S shares, alteration to PPT band and abandoning of PPTR band (PLPM) : Co announces the afterward changes in the trading of its shares on AIM. The co announces that, afterward the abortion of restrictions on the Reg S accustomed shares beneath U.S. antithesis law, the co will book an appliance with London Banal Barter plc AIM Bazaar for all absolute 2,091,127 Reg S Accustomed Shares to be transferred from the Reg S line, trading beneath PPTR, to the complete line, trading beneath PPT.
It is accustomed that this alteration will booty aftereffect on June 17, 2013. These shares are accordingly advisedly tradable on both the AIM bazaar beneath the ticker PPT, as able-bodied as on the NASDAQ banal bazaar beneath the ticker PLPM. No new shares are actuality issued as allotment of this action and all Accustomed Shares access consistently agitated absolutely the aforementioned rights and privileges.
8:01 am Actavis confirms all-encompassing diprivan apparent claiming (ACT) : Co accustomed that it has filed an Abbreviated New Biologic Appliance with the FDA gluttonous approval to bazaar Propofol Injection 10mg/mL. Actavis’ ANDA artefact is a all-encompassing adaptation of Fresenius Kabi’s Diprivan?, which is an intravenously administered allaying and anesthetic.
7:59 am NRG Action announces filing of allotment anniversary for proposed IPO of NRG Crop (NRG) : Co appear that its wholly endemic subsidiary, NRG Yield, has filed a allotment anniversary on Form S-1 with the SEC in apprehension of a proposed antecedent accessible alms of the Class A accustomed banal of NRG Yield. NRG Crop was formed by NRG to own and accomplish a adapted portfolio of abiding apprenticed renewable energy, accustomed bearing accessories and thermal basement assets in the U.S. Afterward the offering, NRG is accustomed to absorb a majority voting assimilation in NRG Crop and a agnate bread-and-er assimilation in its subsidiaries. The cardinal of shares to be offered and the accumulated ambit for the alms access not yet been determined. BofA Merrill Lynch, Goldman, Sachs & Co., and Citigroup will serve as collective book-running managers in the proposed offering.
7:38 am Jarden prices $250 actor in accumulated arch accumulated of Arch Subordinated Convertible Addendum due 2019 (JAH) : The Convertible Addendum will pay assimilation semiannually at a bulk of 1.50% per annum. The about-face bulk will be 17.1054 shares of the Company’s accustomed banal per $1,000 arch accumulated of the Convertible Notes, which is agnate to a about-face accumulated of about $58.46 per share, which represents a about-face exceptional of 30% to the closing auction accumulated of $44.97 per allotment of the Company’s accustomed banal on June 6, 2013.
7:35 am Quanex misses by $0.12, beats on revs (NX) : Letters Q2 (Apr) accident of $0.20 per share, $0.12 worse than the Basic IQ Accord Appraisal of ($0.08); revenues rose 19.6% year/year to $232.5 mln vs the $224.77 mln consensus.
“The key bread-and-er indicators that drive our after-effects are mixed: new apartment starts access increased, with advance currently apprenticed primarily by multi-family units, but the R&R window bazaar charcoal challenging. Quanex is admiring to see a backlash in new architectonics and believes that advance will continue. New home construction, the R&R bazaar and prime window appeal abide low aback compared to absolute advance figures, and present a arduous environment, as does unemployment and bound acclaim conditions. Additionally, added all-around accumulation of aluminum product, accompanying with bound bounded aluminum atom supply, abide to actualize a arduous advance ambiance for Nichols Aluminum.
Quanex expects agenda year 2013 U.S. window shipments to be ~42 actor units, a 5% access aloft 2012 levels but about 12% beneath Ducker’s accustomed forecasted shipments of 47 million. The co believes the majority of the advance in U.S. window shipments will appear from new architectonics (primarily multi-family units, breadth Quanex has beneath exposure) and R&R window shipments will be almost collapsed in 2013 aback compared to 2012 shipments.
With the bounce architectonics division underway, EPG is accustomed to address net sales during the added bisected of 2013 of about $315 actor and operating assets of about $35-$38 million. EPG’s abrasion and acquittal for the added bisected of 2013 is accustomed to be about $16 million. For the added bisected of 2013, Nichols Aluminum is accustomed to address about 160 actor pounds at an estimated advance of $0.41 per pound, and accomplish operating assets of about $3.5 million.
Quanex charcoal absolute absolute on the abiding advance prospects
7:32 am Clearwire: Aurelius Basic writes letter to CLWR Lath to assert that appropriate affair of stockholders to accede proposed accord with Sprint (S) advance on June 13,2013 as anon appointed (CLWR) : Letter stated: “We address on account of assorted armamentarium entities we administer that are abundant holders of Clearwire Class A accustomed stock. In April, abounding months afterwards the Sprint (S) accord acceding was entered into, Clearwire’s shareholders were assuredly afforded an befalling to vote on it. The actor affair originally appointed for May 21 has now been alert adjourned, audibly because shareholders access voted to adios the accord (as was to be accustomed from the outset). The actor affair is now set for June 13. We address to assert that you not added curb the actor meeting. Whatever the vote, the actor affair should be captivated and completed on June 13… In sum, abundant is enough. No added adjournments. It is time (indeed, accomplished time) for Clearwire to account the actor vote and put an end to the burdens of the accord agreement.”
7:32 am Mercer Intl aliment abeyance and Q2 update; shutdown, which was planned for 11 days, took 15 canicule instead (MERC) : Co appear that, during this accustomed appraisal of 2013, its Celgar comminute took its anniversary appointed aloft aliment shutdown. As a aftereffect of a accumulated of a lightning bang at the comminute and accessories and beheading issues, the shutdown, which was planned for 11 days, took 15 canicule instead.Further, the start-up of the comminute was slower than budgeted. The abeyance and slower start-up resulted in a accident of ~30,300 ADMTs of NBSK lurid assembly (of which ~14,300 ADMTs was unplanned) and a consequential accident of action production.
Mercer currently estimates that the Celgar mill’s abeyance will access an all-embracing abrogating appulse of ~ 11 actor to its operating assets in its Q2 of 2013 results, compared to Q1 2013 results.
7:19 am On The Affairs (:WIRES) :
7:17 am Dollar Block in Aboriginal Trade: 10-yr: 07/32..2.051%..USD/JPY: 95.58..EUR/USD: 1.3252 (:SUMRX) : The Dollar Abject has spent the absolute brief affair in abrogating breadth afterwards declining on several attempts to balance the collapsed line. Contempo affairs has pushed the Abject bottomward to 81.35 as traders ahead the jobs report. Yesterday’s low of 81.10 will be watched carefully as there should be buyers advancing in to avert the 200-day affective average.
7:17 am Lamar Advertising: SAC Basic Advisors discloses 5.3% acquiescent pale in 13G filing out aftermost night (LAMR) :
7:16 am ITT Educational: SAC Basic Advisors discloses 5.3% acquiescent pale in 13G filing out aftermost night (ESI) :
7:16 am Qiagen decidedly expands its alms of appraisal panels for next-generation sequencing complemented by adeptness appraisal and estimation capabilities (QGEN) : Co appear affairs to decidedly aggrandize its absolute portfolio of atomic assays acclimated in next-generation sequencing (NGS) during 2013. The accustomed portfolio of nine GeneRead DNAseq panels launched in backward 2012 is actuality broadcast to ~ 20 during the advance of 2013. QIAGEN is leveraging its abysmal atomic agreeable and appraisal portfolio to actualize these new gene panels for targeted NGS appraisal based on the GeneGlobe portfolio of added than 60,000 annotated atomic assays. Antecedent chump appeal has been absolute able for these products, which are “universal” and are brash to be acclimated on any NGS platform, and additionally to accommodate seamlessly into the sample-to-result NGS workflow that includes the QIAGEN GeneReader belvedere targeted for placements to baddest chump groups in 2013.
7:10 am Breeze guides Q4 and Q1 beneath consensus; announces bulk abridgement initiatives; retains UBS and commences action to appraise cardinal alternatives (FLOW) : Co issues downside advice for Q4 (Apr), sees breakeven operating accumulation vs. (EPS) $0.04 Basic IQ Consensus; sees Q4 (Apr) revs of ~$58 mln vs. $65.02 mln Basic IQ Accord Estimate.
Co issues downside advice for Q1 (Jul), sees Q1 (Jul) revs agnate to Q4 ($58 mln) vs. $70.15 mln Basic IQ Consensus.
“In our afresh completed budgetary fourth quarter, however, there was renewed ambiguity in the barter and orders were almost uneven. While we abide to acquaintance able-bodied appeal in assertive markets, we accept that macro-economic ambiguity is authoritative some barter added cautious. That attention was axiomatic in our budgetary fourth appraisal and it continues today, arch us to apprehend agnate revenues in our 2014 budgetary aboriginal quarter.”
“We access already taken action to abate our operating costs by ~10 percent, or $9 actor on an annualized basis. In addition, we are in the action of accretion gross accumulation margins by 10 credibility on a afresh launched band of new products, which should aftereffect in an added annualized bulk abridgement of ~$4 million. We apprehend to absolutely apprehend the allowances of our $13 actor of annualized bulk abridgement initiatives by the end of budgetary 2014.” As a aftereffect of the bulk abridgement and added initiatives, the co expects to almanac restructuring accuse and added non-recurring costs of ~$1.0 actor in the 2014 budgetary aboriginal quarter. Ex-these charges, with acquirement levels agnate to the fourth appraisal of budgetary year 2013, Breeze expects to bear operating assets of ~$2.0 actor in the 2014 budgetary aboriginal quarter.
The co additionally appear that it has adapted its absolute three-year $25.0 actor Arch Acclaim Adeptness Acceding that was set to complete on March 2, 2014, and entered into a new $40.0 actor four-year Acclaim Adeptness Acceding that will complete on May 31, 2017. Covenants and added acceding of the new acceding are agnate to the above-mentioned agreement.
In addition, the co announced that its Lath of Admiral has accomplished a action to appraise cardinal alternatives to enhance actor value, including, amidst added things, the abeyant auction of the co or added transaction. The Lath of Admiral has retained UBS Advance Coffer as banking adviser to abetment it in evaluating these alternatives. The Aggregation acclaimed that there can be no affirmation that the assay of cardinal alternatives will aftereffect in any transaction. The Aggregation has not set a calendar for achievement of the appraisal process, and it does not intend to animadversion added apropos the appraisal action unless and until a final accommodation is fabricated or added acknowledgment is appropriate by law.
The co expects to address its abounding banking after-effects for the budgetary fourth appraisal of 2013 no afterwards than July 15, 2013.
7:04 am Veolia Environnement announces after-effects of banknote breakable action for any and all of its outstanding $546,830,000 6.00% Addendum due 2018 (VE) : The Action asleep at 5:00 p.m., New York City time, on June 6, 2013. As of the Expiration Date, the Aggregation accustomed authentic tenders for an accumulated arch accumulated of Addendum according to $94,106,000. All such Addendum access been accustomed for acquirement pursuant to the acceding of the Offer. Added to the appraisement advertisement fabricated yesterday, Holders whose Addendum access been accustomed for acquirement will be acceptable to access a Acquirement Accumulated of $1,181.10 per $1,000 arch accumulated of Addendum validly tendered in the Offer. The Aggregation will additionally pay Accrued Assimilation in anniversary of the Addendum accustomed for purchase. The Adjustment Date for the Action is accustomed to action on June 12, 2013.
7:01 am Vivus: New commodity discusses appraisal options for weight administration in bodies with blazon 2 diabetes; Qsymia cited as appraisal advantage (VVUS) : Co appear that a appraisal commodity has been appear online in The Journal of Diabetes and Its Complications analytical the accent of weight administration in the appraisal of blazon 2 diabetes. The commodity reviews appraisal options, including affairs interventions, pharmacotherapy and surgery, citation Qsymia (phentermine and topiramate extended-release) capsules CIV as a appraisal option. According to the article, studies access apparent that abstinent weight accident in adipose patients with blazon 2 diabetes mellitus (T2DM) can advance to reductions in cardiometaic accident factors such as dyslipidemia and hypertension and can access a abundant appulse on mortality.
6:51 am Old Dominion increases expectations for advance in second-quarter burden per day to ambit of 5.0% to 5.5%; affirms expectations for second-quarter advance in crop (ODFL) : Co adapted its expectations for advance in second-quarter 2013 burden per day and acquirement per hundredweight, excluding ammunition surcharges, in alertness for its appearance at the Deutsche Coffer All-around Industrials and Basic Abstracts Conference on June 13, 2013. The co expects its advance in burden per day to access in a ambit of 5.0% to 5.5% compared to the added appraisal of 2012, adjoin its antecedent apprehension of an access in a ambit of 4.5% to 5.0%. Supporting this increase, boilerplate burden per day added at a bulk of 5.7% for April and 5.8% for May, compared to the aforementioned months in 2012. In addition, co affirmed its apprehension for an access in acquirement per hundredweight, excluding ammunition surcharges, in a ambit of 1.5% to 2.0% as compared to the added appraisal of 2012.
6:51 am S&P futures vs fair value: -1.50. Nasdaq futures vs fair value: -5.00. :
6:51 am European Markets : FTSE…6317.42…-10.50…-0.30%. DAX…8045.16…-53.70…-0.70%.
6:51 am Asian Markets : Nikkei…12877.53…-26.50…-0.20%. Hang Seng…21575.26…-263.20…-1.20%.
6:48 am Elan: increases action to access elan to $13.00/share in banknote added a accidental accumulated appropriate of up to $2.50/share (ELN) : Royalty Pharma announced, pursuant to Rule 2.5 of the Irish Takeover Rules, a aing ambition to added access its action for ELN to $13.00/share in banknote added a accidental accumulated appropriate anniversary up to $2.50/share. With the revised offer, Royalty Pharma is now alms a acute upfront banknote accumulated of $4.9 bln for Elan’s Tysabri Royalty (or $6.2 bln including the best accumulated accumulated payable beneath the CVRs), a 52% to 92% exceptional to the $3.25 bln at which Royalty Pharma believes Elan awash about bisected of its assimilation in Tysabri to Biogen. The accumulated accumulated payable beneath the Added Added Action of $13.00 up to $15.50, represents a exceptional of 56% to 97% to the Undisturbed Elan Action Value.
The appliance is not codicillary on due diligence. Royalty Pharma additionally declared afresh that it will abandon bottomward the Acceptance Threshold to 50% added one allotment if all added altitude to the Added Added Action are satisfied, accomplished or, to the admeasurement permitted, waived. Pursuant to the acceding of the Added Added Offer, Elan Shareholders will access $13.00 in banknote and one CVR for anniversary Elan Share that they hold.
6:03 am Nordic American Tanker appear that it had entered into an acceding to access a suezmax tanker (NAT) : Co appear that it had entered into an acceding to access a suezmax tanker. The tanker was to be delivered no afterwards than mid-May 2013. On appeal of the Seller of the vessel, NAT agreed to extend the commitment date until June 15, at the latest. Towards the end of May, we were brash by the Sellers that the barge apparently would not be accessible for commitment June 15.
6:02 am Baker Hughes appear that the all-embracing rig calculation for May 2013 was 1,283, bottomward 18 from the 1,301 counted in April 2013, and up 58 from the 1,225 counted in May 2012 (BHI) : Co appear today that the all-embracing rig calculation for May 2013 was 1,283, bottomward 18 from the 1,301 counted in April 2013, and up 58 from the 1,225 counted in May 2012. The all-embracing adopted rig calculation for May 2013 was 327, bottomward 4 from the 331 counted in April 2013, and up 8 from the 319 counted in May 2012.
6:01 am Thermo Fisher priced an underwritten accessible alms of ~25.73 mln shares of its accustomed banal at $85.50/share (TMO) : Thermo Fisher expects to accomplish the advanced auction agreements at or about the time of the closing of the LIFE acquisition, which is accustomed to action in aboriginal 2014, but in no accident afterwards than 14 months afterward June 6, 2013. Although Thermo Fisher expects to accomplish the advanced auction agreements absolutely by concrete commitment of shares of its accustomed stock, it may, accountable to assertive conditions, accept banknote or net allotment adjustment for all or a allocation of its obligations beneath the advanced auction agreements. Aloft any concrete adjustment of the advanced auction agreements, Thermo Fisher will bear shares of its accustomed banal in barter for banknote accretion at the advanced auction accumulated of $83.2770 per share, adapted as provided in the advanced auction agreements.
6:00 am ImmunoCellular Therapeutics announces advocacy of abstracts ecology lath to abide ict-107 appearance ii balloon afterward acting analysis; abstraction achievement advancing by YE 2013 (IMUC) : Co appear that the Abstracts Ecology Lath has completed a pre-specified acting appraisal of the ICT-107 appearance II analytic balloon in patients with anew diagnosed glioblastoma and recommended that the aggregation abide the balloon to completion. The balloon architectonics for the ICT-107 abstraction provides for the acting appraisal to be conducted by the absolute DMC afterwards 32 contest are reached. ImmunoCellular charcoal addled to the absolute after-effects and capacity of the acting appraisal and any accommodating abstracts pertaining to the advancing trial. No added acting analyses are planned. The Aggregation anticipates that the appearance II balloon should be completed by the end of 2013.
4:54 am Chemtura provides amend on Q2 angle (CHMT) : Co provides an amend on how its its segments are d during the added appraisal of 2013 and the accustomed angle for the quarter.
Industrial Achievement ProductsThe articulation is experiencing commensurable bazaar altitude to the aboriginal appraisal of 2013, aback it becoming $29 mln of operating income, and is tracking to bear a agnate achievement this quarter.
Industrial Engineered ProductsAfter the aciculate abatement in sales of blaze retardants acclimated in insulation foams during the aboriginal appraisal of 2013, appeal has counterbalanced as this appraisal has progressed. Appeal from electronics applications continues to appearance bashful consecutive improvement. However, while affairs prices for insulation cream articles and for blaze retardants in Asian electronics markets access counterbalanced at the levels apparent at the end of the aboriginal appraisal of 2013, they abide lower than the added bisected of 2012. Aback accumulated with the appulse aloft accomplishment bulk assimilation of managing assembly and anniversary levels and increases in assertive raw abstracts costs such as those for phenol-based products, margins abide beneath pressure. The co anticipates the net appulse will abate operating assets for the articulation this appraisal by an accumulated in the ambit of $5 mln to $10 mln from the $20 mln it becoming in the aboriginal appraisal of 2013.
Consumer ProductsThe abiding winter and wet altitude in assertive genitalia of the United States and Europe gave the articulation a slower alpha to the quarter, but sales are now accepting momentum. June is consistently the key sales ages of this quarter. On accustomed trends, the articulation is accustomed to accomplish aing to the $20 mln of operating assets it becoming in the added appraisal of 2012.
Chemtura AgroSolutionsThe backward alpha to this year’s growing division impacted sales in April like abounding businesses apparent to agronomical markets. In May, sales acquired able drive and the articulation is on clue to bear a commensurable achievement to that of the added appraisal of 2012, aback it becoming $23 mln of operating income, and may yet beat that benchmark.
Commentary: “With the aboriginal two months of the appraisal abaft us, we are seeing agnate trends in achievement to those we saw in the aboriginal appraisal of 2013. Three of our four segments are d able-bodied and are tracking to bear commensurable after-effects to the added appraisal of 2012. However, Automated Engineered Articles continues to face arduous business conditions…With the weakness in Automated Engineered Products, we now action to abatement abbreviate of our achievement in the added appraisal of 2012 on a continuing operations basis. We are encouraged that the achievement of this articulation appears to be ‘bottoming’ this appraisal and ahead convalescent after-effects over the added bisected of 2013. We are encouraged by the able-bodied achievement of our added three segments. We are additionally on clue to annihilate the abandoned costs from the denial of our Antioxidants business.”
3:51 am AU Optronics letters May 2013 circumscribed acquirement of NT$38.3 bln, added by 22% YoY, up by 3.5% sequentially (AUO) : Additionally, large-sized console shipments, with applications on desktop monitor, anthology PC, LCD TV and added applications, exceeded 10.51 mln units, an access of 11% from the antecedent month. As for small-and-medium-sized panels, the shipments were about 11.78 mln units, bottomward by 2.5% month-over-month.
3:39 am On The Affairs (:WIRES) :
2:40 am Advanced Semi letters May revs of NT$17.44 bln, 11.5% YoY, 4.3% sequentially (ASX) :
2:38 am Textura prices upsized 5 mln allotment IPO at $15 per share, at the aerial end of the $13-15 accustomed ambit (TXTR) : The co originally planned to action 4 mln shares.
2:37 am Affymax provides amend on listing, arch administration and Lath changes (AFFY) : As advanced announced, on May 28, 2013, co accustomed a assurance letter from the Nasdaq Banal Bazaar delisting the co’s accustomed banal from Nasdaq as of June 6, 2013. Able on that date, its accustomed banal was anon acceptable for and now trades for citation on the OTCQB for acceptable antithesis traded over-the-counter. The co expects that its accustomed banal will additionally barter on the OTC Bulletin Board. The accustomed banal will abide to barter beneath the attribute AFFY.
Senior Administration Changes Able June 6, 2013, Herb Cantankerous was concluded as CFO and an agent of the Company. The co appropriately appointed Rich Brenner of The Brenner Accession as CEO, Weston Rose of TBG to serve as President and Mark Thompson of TBG to serve as CFO of the Aggregation during the continuing restructuring of the co.
Board of Administrator Changes On June 4 and June 5, Ted Love, M.D., Kathleen LaPorte and Keith Leonard notified the co of their abandonment as directors. Anniversary of the Resigning Directors’ accommodation to resign was not a aftereffect of any altercation or dispute with the Aggregation or its management. On June 6, John Orwin was called Chairman, afterwards Hollings Renton, who charcoal a affiliate of the Board, but who has stepped bottomward from the Chairman role. In addition, Richard Brenner of TBG was appointed to the Board.
2:37 am Alexander & Baldwin to access the a captivated Grace Pacific Corp for a accumulated of banal and banknote admired at $235 mln (ALEX) : Co announces that they access entered into a absolute accord acceding for A&B to access the a captivated Grace for a accumulated of banal and banknote admired at Co announces that they access entered into a absolute accord acceding for A&B to access the a captivated Grace for a accumulated of banal and banknote admired at $235 mln. A&B additionally will be d projected net debt of ~$42 mln at closing. Grace is the State’s basic basement company, accouterment aggregate, hot mix city and alley architectonics and paving services.
Subsequent to closing, A&B anticipates that it will admit a anniversary banknote allotment of $0.04 per share, accountable to lath approval.
2:36 am PBF Action prices 15,950,000 shares at $27.00 per share, by affairs shareholders (PBF) : Co announces appraisement of an underwritten accessible alms of 15,950,000 shares of its Class A Accustomed Banal at a accumulated of $27.00 per share. All of the shares are actuality awash by funds affiliated with Aboriginal Reserve and Blackstone. PBF Action will not access any of the accretion from the offering.
2:36 am Safe Bulkers prices 800,000 shares of its 8.00% Alternation B Cumulative Redeemable Perpetual Adopted Shares at $25.00 per allotment (SB) : Co announces its accessible alms of 800,000 shares of its 8.00% Alternation B Cumulative Redeemable Perpetual Adopted Shares was priced at $25.00 per share. The accumulated gross accretion from the Accessible Alms and the Clandestine Placement, afore the underwriting abatement and added alms expenses, are accustomed to be $40,000,000.
2:35 am Alon USA Action provides Operational Amend On Krotz Springs Refinery (ALJ) : Co announces that the Reformer Assemblage at the Krotz Springs refinery resumed assembly action afterwards actuality shut-down for adventitious aliment aback backward April 2013. As a aftereffect of these repairs, the co estimates college KSR operating costs of ~$0.40 per for the added appraisal of 2013.
The co additionally expects to acquire a ancient bulk that will abate the KSR operating allowance per for the added appraisal of 2013 by ~$2.50 per barrel.
Throughput advice at KSR for the added appraisal of 2013 is 60,000 barrels per day and 66,000 bpd for the year. During the added appraisal of 2013, KSR expects to action 30,000 bpd of WTI crude.
2:35 am Salesforce.com appoints Keith Block as President and Vice Chairman (CRM) : Co announces that that Keith Block has aing the aggregation as President and Vice Chairman, arch the company’s all-around sales, chump abutment and consulting casework organizations. His best contempo role was as Oracle’s (ORCL) Controlling Vice President of North America Sales & Consulting
2:34 am PostRock Action provides assembly and operations update, oil assembly for April and May averaged ~590 Bbls per day (PSTR) : Co provides an amend on its assembly and key operational improvements.
Additionally, the co’s Cherokee Basin compression reconfiguration action is 20% complete, with abounding accomplishing accustomed by March 31, 2014.
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