8:54AM Ness Tech says awarded multi-year offshore contract by InfoVista (
NSTC) 14.60 : Co announces that it has been awarded a multi-year offshore development contract by InfoVista. Under the terms of the contract, NSTC will establish an R&D center for InfoVista at NSTC's offshore facility in Bangalore, India.
8:51AM On The Wires (
WIRES) : Think Partnership (THK) released the results of its online shopping statistics for the 2006 holiday season. In 2006, there was a surge in online holiday shopping that lasted beyond Cyber Monday (the Monday following the Thanksgiving holiday). Shopping actually increased in volume through Dec 18... Reliance Steel & Aluminum (RS) announce that it has reached an agreement to acquire the net assets and business of the Encore Group of metals service center cos. Terms were not disclosed.
8:46AM Competitive Technologies says interest in Nano Group's slate of directors do not appear to be aligned with those of shareholders (
CTT) 2.47 : Co announces that it has mailed the following letter to all shareholders. " The interests of the Nano Group's slate of Directors do not appear to be aligned with those of our shareholders. The slate they present is hardly a "blue ribbon" panel. Furthermore, Mr. Nano currently owns only 22 shares of CTT, and four of the other five proposed director nominees do not own any shares. -- Mr. Nano is a former President and CEO of CTT who was terminated by CTT and is currently in litigation with CTT. Among other things, CTT believes that Mr. Nano misappropriated for his own benefit confidential CTT documents and CTT monies."
8:35AM On The Wires (
WIRES) : The Multiple Myeloma Research Consortium and Keryx Biopharmaceuticals (KERX) announce the initiation of a multi-center Phase I clinical program to explore the convenient all-oral combination of KRX-0401, Revlimid and dexamethasone for the treatment of relapsed or refractory multiple myeloma... First Data (FDC) announces it has renewed its agreement to provide signature debit processing for cardholders of First Federal... Jupitermedia (JUPM) announces the acquisition of JustTechJobs.com, an online tech job site. Terms of the transaction were not disclosed.
8:31AM United Online and Covad announce broadband service agreement (
UNTD) 13.62 : UNTD and Covad Communications (DVW) announce an agreement through which UNTD will expand its NetZero DSL broadband Internet service offering using DVW's network. UNTD recently launched NetZero Digital Subscriber Line broadband Internet service to provide its customers with an opportunity to upgrade to broadband.
8:31AM LeCroy announces agreement with TOYO Corporation to distribute and support LeCroy products in Japan (
LCRY) 11.26 : Co announced that an agreement has been reached with TOYO Corporation, a distributor of test equipment in Japan, for exclusive distribution of LeCroy's full product line of protocol analyzers, protocol exercisers, error injectors, and associated accessories in Japan.
8:31AM S&P futures vs fair value: -2.3. Nasdaq futures vs fair value: -6.8. :
8:10AM S&P futures vs fair value: -2.3. Nasdaq futures vs fair value: -6.8. :
8:09AM On The Wires (
WIRES) : Myers Industries (MYE) announces that it has reached a definitive agreement to acquire ITML Horticultural Products. ITML, a private co, designs, manufactures, and markets plastic containers and related products for professional floriculture / horticulture grower markets across North America. Terms of the transaction were not disclosed at this time... BioSante Pharmaceuticals (BPA) announces that it has initiated a Phase III safety and efficacy trial of LibiGel in the treatment of female sexual dysfunction... CRM Holdings (CRMH) announces top-level mgmt changes. Effective Dec 28, 2006, Daniel Hickey will transition from Co-CEO to CEO, while remaining as Chairman of the Board.
8:08AM LSB Bancshares' earnings expected to decline in fourth quarter and year (
LXBK) 16.50 : Co announces Q4 and full year earnings will decline from the year-ago levels due to the write-down of certain credits at the Bank and at Peoples Finance Company of Lexington, the Bank's finance subsidiary. Earnings will also be affected by a nonrecurring gain resulting from an easement granted to the Department of Transportation and by a one-time charge related to the freezing of the co's defined benefit plan. During Q4, deterioration in the quality of a number of credits led to write-downs of $1.9 mln at the Bank and at Peoples Finance. These write-downs and an additional $1.05 mln to account for the possibility of future losses will result in the co's Q4 provision for loan losses being approx $2.9 mln. This provision would result in a year-end allowance for loan losses of approx 1.26% of gross loans. Co says while EPS will decline, the Bank expects the quarter will be profitable.
8:06AM MedImmune announces it in-licenses novel inflammatory disease tgt (
MEDI) 32.35 : Co announced that it intends to develop a monoclonal antibody targeting pathways within the CD28 receptor family for treatment of certain inflammatory diseases under a recently signed license agreement with Japan Tobacco. MedImmune's initial efforts will focus on developing the current lead antibody, which aims to inhibit a receptor believed to play a key role in controlling adaptive immune responses, called inducible-costimulator, and thereby regulate T-cell dependent activation of B cells. Under the terms of the agreement, J.T. will receive an undisclosed upfront payment, milestone payments and royalties on any future marketed products.
8:06AM Eaton announces acquisition Of Argo-Tech (
ETN) 75.43 : Co announces it will purchase AT Holdings, the parent of Argo-Tech for $695 mln. With this acquisition, ETN's aerospace operations will grow to approximately $1.5 bln in annual revenues.
8:01AM Tandy Leather Factory appoints Ron Morgan as CEO (
TLF) 7.90 : Co anounces that Wray Thompson will resign as the co's CEO effective Dec 31. Mr. Thompson will continue to serve as Chairman of the Board. At the same time, the company announces that Ron Morgan, the co's President and COO, has accepted the appointment of CEO beginning January 1, 2007.
8:01AM Computer Sciences announces $643 mln in previously unannounced Federal contracts (
CSC) 53.93 :
8:00AM Array Biopharma announces its KSP inhibitor for cancer to advance into human trials (
ARRY) 13.06 : Co announces it filed an Investigational New Drug (IND) application for ARRY-520 with the FDA and is now able to proceed with human clinical studies. ARRY-520 is a Kinesin Spindle Protein inhibitor that caused marked tumor regression in preclinical models of human solid tumors and human leukemias, often leading to durable responses. Co plans to commence the Phase 1 clinical trial at three academic medical centers in the United States in early 2007.
7:50AM Science Applications International says awarded defense threat reduction agency contract (
SAI) 17.51 : Co announces it won a contract from the Defense Threat Reduction Agency to work on the Integrated Weapons of Mass Destruction Toolset Phase II. The multiple-award cost-plus-fixed-fee contract has a 3-yr base period with an optional 5-yr total period of performance. If all options are exercised, co says it will have a total value of $53.9 mln.
7:31AM TASER announces dismissal of product liability lawsuit (
TASR) 7.50 : Co announced that the Circuit Court of Cook County, Illinois, entered an order granting TASER's summary judgment motion dismissing the in-custody death product liability lawsuit filed by the estate of Ronald Hasse, Plaintiff, against TASER International.
7:30AM Alliance Data's Epsilon to acquire Abacus (
ADS) 62.00 : Co announces that its Epsilon unit has agreed to acquire Abacus, a division of DoubleClick. Abacus is a provider of data, data management and analytical services for the retail and catalog industry, as well as other sectors. Co expects the acquisition to be a minimum of $0.05 accretive to cash EPS in 2007 and neutral to GAAP earnings. Co says accretion will accelerate thereafter due to both growth in the business and the de-leveraging of acquisition debt.
7:10AM ZOLL Medical receives marketing clearance for R Series ''Code-Ready'' defibrillator in Canada (
ZOLL) 59.20 : Co announces it has received a Medical Device License from Health Canada for the ZOLL R Series, which ZOLL believes is the first and only "Code-Ready" defibrillator that can help improve in-hospital resuscitation efforts. This license provides the necessary approval for the marketing and sale of the device in Canada.
7:05AM On The Wires (
WIRES) : Cadence Financial (CADE) announces that its stock began trading on the NASDAQ Global Select Market under the symbol "CADE." The co's stock previously traded on the American Stock Exchange under the symbol "NBY"... Clear Channel Outdoor (CCO) announces that it has reached its goal of launching four to six new digital billboard networks by the end of 2006 with the installation of eight, large format digital displays in the Twin Cities of Minneapolis and St. Paul, Minnesota.
7:03AM Quigley Corp says HSV-1/NZW rabbit keratitis model study showed that it did not remain in eye long enough to penetrate corneal epithelial cells (
QGLY) 6.00 : Co and its wholly owned subsidiary Quigley Pharma, announce that a series of studies were conducted on the advice of Campbell Laboratories, University of Pittsburgh, to assess QR-435 potential for treating Herpes Keratitis. Co says while the in-vitro studies were very successful at killing the herpes virus on direct contact, the HSV-1/NZW rabbit keratitis model study showed that the compound, in its aqueous form, did not remain in the eye long enough to penetrate the corneal epithelial cells where the virus resides in an infection.
7:01AM Bioenvision says has completed substantive work and analysis involved with finalizing the MAA to expand the Evoltra label (
BIVN) 4.38 : Co announces it has completed the substantive work and analysis involved with finalizing the Marketing Authorization Application to expand the Evoltra label and is now involved with the administrative aspects of formally submitting the filing to the European Medicines Agency for the use of Evoltra in adult A.M.L patients over 65 years and who are considered unsuitable for intensive therapy. The formal submission of the M.A.A is expected in the early part of Q1 2007. The co continues to expect a decision on this regulatory filing in calendar 2007.
7:01AM Senesco executes licensing deal with ArborGen, no terms (
SNT) 0.94 : Co and ArborGen, the co's forestry product co-development partner, announced the execution of a licensing agreement for exclusive use of the co's technology for the enhancement of forestry products. Execution of the agreement follows ArborGen's decision, announced in June 2006, to exercise its option to license Senesco's technology based on positive field trial results. No terms disclosed.
6:40AM Star Gas Prtnrs says to revise unaudited results for Q4 and fiscal year ended Sept 30, 2006 (
SGU) 3.84 : Co announces that as a result of the previously announced assessment of its accounting treatment and disclosures relating to certain derivative transactions under SFAS 133, it will be necessary to amend and restate it's financial statements for each of the fiscal years ended Sept 30, 2004 and 2005 as well as the it's qtrly reports for the periods ended June 30, 2006, March 31, 2006 and Dec 31, 2005 and selected financial data for each of the fiscal years 2001 through 2005. Mgmt estimates that the adjustments will net out to a cumulative total of $0.2 mln impact on income (loss) from continuing operations for fiscal years 2004 through 2007. Co says the restatement does not impact the economics of the hedge transactions nor does it affect it's liquidity, cash flow from operating activities in any historical or future period, or the amount of available cash to pay distributions as defined in the Partnership agreement in any historical or future period.
6:30AM SciClone Pharma says submits regulatory application for DC bead in China (
SCLN) 2.89 : Co announces that it has submitted a regulatory application to the Chinese State Food and Drug Administration for approval to market the DC Bead, a product for the treatment of liver cancer. Co also announces, with its European partner Sigma-Tau S.p.A., that full patient enrollment is complete for its phase 3 clinical trial evaluating the use of Zadaxin in combination with pegylated interferon alpha and ribavirin to treat patients infected with the hepatitis C virus. This trial is being conducted by Sigma-Tau in Europe and has enrolled a total of 553 patients.
6:24AM CHC Helicopter regrets to announce fatal accident in North Sea (
FLI) 20.94 : Co regrets to confirm that one of its Eurocopter AS365N type aircraft crashed in the East Irish Sea at approx 1835 hours, UK time today (Wednesday December 27, 2006). Six bodies have now been recovered from the area. The emergency services are presently continuing their search for the remaining person involved. The aircraft was carrying five passengers and two crew.
6:18AM S&P futures vs fair value: -2.9. Nasdaq futures vs fair value: -6.5. :
6:17AM European Markets : FTSE...6234.10...-11.10...-0.2%. DAX...6606.18...-2.68...-0.0%.
6:17AM Asian Markets : Nikkei...17224.81...+1.66...+0.0%. Hang Seng...20001.91...+276.18...+1.4%.
6:07AM Digital Music Group announces Anders Brown, COO, have resigned (
DMGI) 45.00 : Co announces that Anders Brown, COO, has resigned. Mr. Brown has expressed a desire to pursue opportunities closer to his home and family in Seattle, Washington, and will remain active in his position through March 31, 2007, in order to ensure a smooth transition of his responsibilities.
6:05AM AsiaInfo to upgrade China Telecom's business support systems (
ASIA) 6.58 : Co announces that it has recently signed contracts to upgrade the Business Support Systems of China Telecom's Henan, Shanxi, Tianjin and Heilongjiang subsidiaries.
4:56AM On The Wires (
WIRES) : AEGON (AEG) and Ranbaxy Promoter Group sign definitive agreements to jointly enter the life insurance and asset management business in India.
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