5:48 pm This week's biggest % gainers/losers (:SCANX) : The following are this week's top 20 percentage gainers and top 20 percentage losers, categorized by sectors (over $300 mln market cap and 100K average daily volume).

This week's top 20 % gainers

• Healthcare:DYAX (27.05 +63.54%),ASPX (100.55 +41.8%),CTRX (59.26 +22.64%),EGRX (48.47 +22.15%),HZNP (25.97 +19.07%),ADXS (15.65 +19.01%),ATRA (43.18 +17.98%),BCRX (9.76 +17.59%),CBM (40.61 +16.26%),CNCE (15.57 +15.93%),LBIO (12.94 +15.54%),RCPT (169.31 +14.84%)
• Consumer Discretionary:MOV (31.53 +27.91%),JCP (9.13 +19.66%),SQBG (12.01 +16.38%)
• Energy:CAK (0.65 +24.76%),PBR (6.76 +18.6%),PBR.A (6.8 +17.65%),FMSA (7.76 +15.48%),MDR (4.18 +15.15%)

This week's top 20 % losers

• Healthcare:CTSO (7.71 -46.08%),BDSI (10.03 -27.79%),OVAS (35.06 -19.35%),CLDN (17.73 -15.93%),ZIOP (9.96 -12.98%),RPTP (10.48 -12.45%),PRQR (20.51 -11.97%),DRNA (21.29 -11.22%),KITE (53.95 -9.75%),FPRX (20.4 -9.45%)
• Materials:AGI (5.68 -10.55%)
• Industrials:UTIW (9.65 -22.86%),ALGT (161.9 -15.87%),DRYS (0.75 -9.63%)
• Consumer Discretionary:WWE (13.73 -16.89%)
• Information Technology:CARB (12.25 -14.34%),TRUE (15.71 -11.64%)
• Energy:RIGP (11.8 -13.87%)
• Telecommunication Services:PTNR (2.56 -12.63%),TKC (11.47 -10.95%)

5:02 pm Jamba announces termination of stockholder rights agreement (JMBA) : Co announced the Board of Directors of the Company approved, and the Company entered into, an amendment to the Company's stockholders rights agreement that accelerates the expiration date of the preferred stock purchase rights granted thereunder from 5:00 p.m., New York time, on October 8, 2018, to 5:00 p.m., New York time, on April 2, 2015, effectively terminating the rights agreement as of that date.

• The Board of Directors made its decision to accelerate the expiration date of the rights agreement after receiving feedback from investors and after considering its current corporate governance practices. However, the Board of Directors reserved the right to adopt a new shareholder rights agreement in the future, consistent with its fiduciary responsibilities.
  

5:02 pm Group 1 Auto acquires Audi dealership in North Miami Beach, Florida; expected to generate $160 mln in estimated annual revenues (GPI) :  

5:01 pm Eagle Rock Energy announces redetermination of borrowing base; decreased from $320 mln to $270 mln (EROC) : Co announced that effective April 1, 2015, the borrowing base under its senior secured credit facility has been decreased from $320 million to $270 million as part of the Partnership's regularly scheduled semi-annual redetermination by its commercial lenders. The Partnership's borrowing base is redetermined semi-annually effective April 1 and October 1. The Partnership is comfortably in compliance with the financial covenants under its senior secured credit facility. As of April 1, 2015, the Partnership's total liquidity was approximately $180 million, comprised of approximately $108 million of availability under its senior secured credit facility and approximately 3.1 million Regency units valued at close of market on April 1, 2015 at $72 million.

4:59 pm American Assets Trust announces issuance of $100 mln of 4.50% senior guaranteed notes, series C, due 2025 (AAT) : Co intends to use the proceeds from the private placement of the Series C Notes to refinance existing secured indebtedness and for other general corporate purposes.

4:51 pm Tofutti Brands, Inc. announces notification of NYSE MKT listing deficiency (TOF) : Co announced the receipt of a notice indicating that the Company does not meet certain of the NYSE MKT LLC's continued listing standards as set forth in Part 10 of the NYSE MKT Company Guide. On April 1, 2015, Tofutti received a letter from the NYSE MKT notifying Tofutti that it is not in compliance with Section 1003(a)(ii) of the Company Guide because it reported stockholders' equity of $2.6 million as of December 27, 2014 and had net losses in three out of its four most recent fiscal years ended December 27, 2014. As a result, Tofutti has become subject to the procedures and requirements of Section 1009 of the Company Guide. The Company intends to submit a Plan in the prescribed form to the Exchange prior by the due date that management anticipates will address the concerns of the Exchange and regain compliance with the Exchange's continued listing standards.

4:32 pm Core Molding Technologies announces that its board voted to approve the accelerated termination of the company's stockholder rights plan effective April 1, 2015 (CMT) : The stockholder rights plan was originally scheduled to expire on July 18, 2017. Stockholders do not have to take any action as a result of this accelerated termination.

4:30 pm Supernus Pharma announces issuance of sixth U.S. patent protecting Trokendi XR (SUPN) : Co announced the issuance on March 31, 2015 of a sixth patent (number 8,992,989) by the United States Patent and Trademark Office (:USPTO) covering Trokendi XR, its novel once-daily extended-release topiramate product. The patent provides protection for the product with expiration that is no earlier than 2027. Supernus has several additional patent applications for extended-release topiramate and extended-release oxcarbazepine pending in other geographic regions.

4:30 pm Resonant provides update on the relationship with and first design project for its first customer; co has received notice that the development agreement with its first customer has been terminated (RESN) : In February, Resonant management discussed the transition of its relationship with its first customer from development to commercialization. This week, Resonant received notice that the development agreement with its first customer has been terminated, and that Resonant must pursue commercialization of its designs with this customer by working directly with the filter manufacturer. Resonant intends to collaborate with the filter manufacturer to continue to submit improved product designs for consideration by this customer for insertion into its product modules.

4:20 pm Sunstone Hotel announces it has entered into a new senior unsecured credit facility (SHO) : Under the Facility, the Company's total available capacity increases from $150 million to $400 million. Facility pricing ranges from 155 to 230 basis points over LIBOR, depending on the Company's leverage, and represents a decline in pricing of approximately 30 to 60 basis points. The Facility term is four years, expiring in April 2019, with an option to extend for an additional one year subject to satisfaction of certain customary conditions. The Facility also includes an accordion option which allows the Company to request additional lender commitments for up to a total capacity of $800 million. The Company currently has no outstanding balance on the $400 million revolving credit facility.

4:17 pm Horizon Technology Finance announces it has closed a $7 mln venture loan to ScoreBig, Inc., an online marketplace focused exclusively on helping consumers save on live event tickets (HRZN) :  

4:16 pm General Cable has completed the sale of its interests in joint ventures including Dominion Wire and Cables and Keystone Electric Wire and Cable for cash consideration of $21 mln (BGC) : In separate transactions, the Company's ownership interests were purchased by its respective joint venture partner. Proceeds from the sales were used to reduce outstanding borrowings.

4:14 pm Ensign Group announces that it acquired Coral Desert Rehabilitation and Care, a 60-bed all-private/Medicare skilled nursing facility in St. George, Utah; terms not disclosed (ENSG) : The acquisition of the operation and the commencement of a new long-term lease were effective as of April 1, 2015. Coral Desert Rehabilitation and Care had an occupancy rate of approximately 68% at acquisition and is expected to be mildly accretive to earnings in 2015. Ensign also announced today that it acquired the underlying real estate of Panorama Gardens Nursing and Rehabilitation Center, a 149-bed skilled nursing facility in Panorama City, California, which has been operated by an Ensign subsidiary since September 2000 under a lease.

4:13 pm Closing Market Summary: S&P 500 Ekes Out Slim Weekly Gain (:WRAPX) : The major averages eked out modest gains on Thursday after spending the day inside narrow ranges. The S&P 500 gained 0.4% while the Nasdaq Composite (+0.1%) underperformed. The market ended the abbreviated week on a mixed note with the S&P 500 adding 0.3% while the Nasdaq shed 0.1% for the week.

Today's session was very quiet with the S&P 500 bouncing between its 100- (2,060) and 50-day moving averages (2,073). The index settled in the top half of its trading range, but it is worth noting that many participants chose to forego the session, evidenced by light trading volume. To that point, fewer than 700 million shares changed hands at the NYSE floor.

Still, nine of ten sectors registered gains with telecom services (+0.9%) spending the day ahead of its peers. Meanwhile, the remaining three countercyclical groups posted slimmer gains. Notably, the health care sector (+0.2%) registered a modest gain despite intraday weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 339.70, -0.38) shed 0.1%.

The relative weakness in biotechnology kept the Nasdaq Composite behind the S&P 500 while high-beta chipmakers also lagged. Micron (MU 26.72, -0.41) lost 1.5% after reporting a bottom-line beat and issuing below-consensus revenue guidance while the broader PHLX Semiconductor Index slipped 0.3%.

Conversely, chipmakers also pressured the technology sector (-0.1%), which was the only group ending in the red. The modest loss was not entirely due to weakness among microchip names as several large cap components like Google (GOOGL 541.31, -8.18), Microsoft (MSFT 40.29, -0.43), and Qualcomm (QCOM 67.97, -1.46) dropped between 1.1% and 2.1%.

Elsewhere among cyclical groups, the energy sector (+0.2%) settled just above its flat line while crude oil endured a volatile session before ending lower by 1.8% at $49.10/bbl. On a related note, leaders from six countries and Iran agreed on a general framework for a deal that will require Iran to reduce its uranium stockpiles in exchange for the removal of sanctions that are currently in place. The deadline for the final agreement has been pushed back to June 30.

Also of note, the consumer discretionary sector (+0.9%) finished ahead of other cyclical groups thanks to broad strength. Homebuilders rallied with the iShares Dow Jones US Home Construction ETF (ITB 28.61, +0.48) climbing 1.7% while media names like CBS (CBS 61.16, +1.54), Comcast (CMCSA 57.94, +0.88), and Time Warner (TWX 85.00, +2.20) also posted solid gains.

Treasuries spent the day in a steady slide from their early morning highs, sending the 10-yr yield higher by five basis points to 1.91%.

Economic data included ISM Index, Construction Spending, ADP Employment, and MBA Mortgage Index:

• The ADP National Employment Report revealed that employment in the nonfarm private business sector rose by 189K in March while the Briefing.com consensus expected an increase of 225K 
  • The February reading was revised up to 214,000 from 212,000 
• The ISM Manufacturing Index declined to 51.5 in March from 52.9 in February while the Briefing.com consensus expected a decrease to 52.5 
  • Nearly all of the regional manufacturing surveys pointed toward a sharp deceleration in the national manufacturing index so the drop in the ISM Index shouldn't have been much of a surprise 
  • Production levels actually improved, albeit by a very small margin, as the related index increased to 53.8 in March from 53.7 in February 
• Construction spending declined 0.1% in February after declining a downwardly revised 1.7% (from -1.1%) in January while the Briefing.com consensus expected a decline of 0.3% 
  • The unseasonably harsh winter weather conditions, which were blamed for a significant downturn in new housing starts, had little to no effect on overall construction levels 
    • Total private construction increased 0.2% in February after declining 1.1% in January 
• The weekly MBA Mortgage Index rose 4.6% to follow last week's 9.5% spike

Tomorrow, the Nonfarm Payrolls report for March (Briefing.com consensus 250K) will be released at 8:30 ET even though the stock market will be closed.

• Nasdaq Composite +3.2% YTD 
• Russell 2000 +4.1% YTD 
• S&P 500 +0.4% YTD 
• Dow Jones Industrial Average -0.3% YTD 

Week in Review: Technical Levels in Focus

The major averages rallied throughout the Monday session with the Dow Jones Industrial Average (+1.5%) ending in the lead while the S&P 500 (+1.2%) and Nasdaq (1.2%) followed not far behind. The key indices began the week on an upbeat note, aided by overnight news indicating China has loosened its lending requirements for purchases of second homes. In addition, Friday's dovish remarks from Fed Chair Janet Yellen, who said the Fed will move cautiously when raising rates, provided another measure of support. All ten sectors ended the day with solid gains while the S&P 500 surged above its 50-day moving average (2,070). Overall, cyclical sectors had the best showing, but countercyclical groups held their own. Health care and telecom services ended at the bottom of the leaderboard, but both groups still gained close to 1.0% apiece.

The stock market extended its March decline on Tuesday, but was able to end the first quarter in the green. The S&P 500 (-0.9%) lost 1.7% for the month, but added 0.4% during the first quarter. The tech-heavy Nasdaq (-0.9%) outperformed, losing 1.3% in March to narrow its Q1 gain to 3.5%. For its part, the Dow Jones Industrial Average (-1.1%) lost 2.0% in March and shed 0.3% in Q1. Equity indices started the day amid broad pressure while the Dollar Index (98.31, +0.33) added to yesterday's gain. The S&P 500 tried climbing off its opening low, but daylong weakness among heavily-weighted sectors like health care (-1.5%), industrials (-1.0%), and energy (-0.9%) prevented the index from turning positive. On the flip side, the consumer discretionary sector (-0.5%) held a modest gain into the afternoon, but slipped into the red during the final hour. Still, the discretionary sector ended ahead of its peers with homebuilders contributing to the relative strength after DR Horton (DHI) was upgraded to 'Positive' from 'Neutral' at Susquehanna. Shares of DHI gained 1.7% while the iShares Dow Jones US Home Construction ETF (ITB) surrendered its gain ahead of the close. As for the broader market, the S&P 500 slipped back below its 50-day moving average (2,071).

The major averages kicked off April with a retreat that sent the S&P 500 lower by 0.4%. The benchmark index settled in-line with the Dow Jones Industrial Average and the Nasdaq Composite, with the latter catching up during the final hour. Equity indices spent the entire day in the red and could not rally following upbeat economic data from overseas. Strangely, S&P 500 futures tumbled nearly 20 points overnight after China reported its first expansionary Manufacturing PMI (50.1; expected 49.7) in three months. Similar to China, most Manufacturing PMI readings from Europe also surpassed estimates with the region-wide reading rising to 52.2 (expected 51.9). Interestingly, S&P 500 futures rallied off their overnight lows, but could not climb above the spot where the overnight selling commenced. Once the cash session began, the S&P 500 quickly returned into the neighborhood of its overnight low and settled on its 100-day moving average (2,060).

4:10 pm Entellus Medical sees Q1 rev above estimates; promotes Robert White CEO (ENTL) :

• Effective today, Robert White, President and Chief Operating Officer of the Company has been promoted to President and Chief Executive Officer and appointed to its Board of Directors. In a planned move, Brian Farley, the Company's current Chairman and Chief Executive Officer, has transitioned to Executive Chairman of the Board and part-time employment with the Company.
• Co sees Q1 rev $13.4-13.5 mln vs $12.99 mln Capital IQ Consensus.

4:08 pm Mid-Con Energy Partners announces $220 mln borrowing base (MCEP) : Co announces a redetermination of its borrowing base to $220 million, a reduction of $20 million, or approximately 9% from previously established commitments. The new borrowing base, which is part of MCEP's $250 million senior secured revolving credit facility, became effective April 2, 2015, with Royal Bank of Canada acting as Administrative Agent. Participant lenders include Bank of Nova Scotia, BOKF NA, Comerica Bank, Wells Fargo Bank N.A., Frost Bank and MUFG Union Bank.

4:06 pm Nortek announces it intends to refinance all of its outstanding 10% senior unsecured notes due 2018 with an incremental $265 mln senior secured term loan (NTK) : Co announced its plans to refinance all of its outstanding 10% Senior Unsecured Notes due 2018 with an incremental $265 million senior secured term loan.

4:06 pm Transdigm Group announced it has appointed the Terrance Paradie as CFO (TDG) : Paradie was most recently Executive Vice President and Chief Financial Officer for Cliffs Natural Resources (CLF). Co also noted that it appointed its CFO Greg Rufus to Senior Executive Vice President to facilitate his intention to retire in 4Q16.

4:06 pm Albany Molecular announces that it has decided to close its Holywell, U.K. facility following a consultation process with employee representatives (AMRI) : AMRI will transition activities at the Holywell site to other facilities within the AMRI network and plans to cease operations at the site by the end of 2015. Closure of the site is expected to affect approximately 62 positions.

4:05 pm Interval Leisure Group announces pricing its $350 mln private offering of senior notes due 2023 at 5.625% (IILG) : Co announces the pricing of its wholly-owned subsidiary Interval Acquisition Corp.'s offering of $350 mln in aggregate principal amount of its 5.625% senior notes due 2023 in a private offering. This is an increase in the offering size of $50 mln principal amount of the senior notes from the previously announced offering size. Co estimates the net proceeds from the offering to be ~$343 mln and intends to repay indebtedness outstanding under its senior secured revolving credit facility.

4:02 pm TripAdvisor announces Chief Financial Officer Julie M.B. Bradley is resigning; will continue to serve as CFO for an interim period and will help with the recruitment and transition process (TRIP) :  

4:01 pm Patterson-UTI announces it had average of 142 drilling rigs operating in the US and four rigs in Canada during March, 2015 (PTEN) : Co also announced that for the three months ended March 31, 2015, the Company had an average of 165 drilling rigs operating in the United States and eight rigs in Canada.

4:01 pm BIND Therapeutics announces extension of global collaboration with Pfizer (PFE) to develop and commercialize multiple accurins (BIND) :

• Co announced an extension of the terms of its global collaboration with Pfizer (PFE) to create Accurins that optimize the therapeutic potential of two molecularly targeted oncology drugs in Pfizer's pipeline. 
• The collaboration was originally established in April 2013 and the timeline for Pfizer to exercise its option to acquire the exclusive license for the first program continues to be September 2015.  Both companies agreed to an extension of the timeline for the second program through March 2016.
• BIND received an upfront payment of $4.0 mln in 2013, a $1.0 mln preclinical development milestone in December 2014, and has the potential to receive payments up to $88.5 mln upon the achievement of additional specified development and regulatory events. BIND may also receive additional payments up to $110 mln for specified commercial events
  

3:36 pm Duke Realty announces pricing on its recent $500 mln debt tender offer (DRE) : Company stated the terms and pricing of the debt tender offer on its website: See Pricing

3:35 pm Earnings Preview for the week of April 6 - 10 (:SUMRX) : Of the companies reporting earnings for the week of April 6 - 10 some of the bigger names include:

• Monday:
  • After Hours - SHLM
    
• Tuesday:
  • Pre Market - GBX, SCHN, ISCA
  • After Hours - PLAY, TISI
• Wednesday:
  • Pre Market - RAD, FDO, RPM, MSM, GPN, OMN
  • After Hours - AA, BBBY, PIR, DDC, APOG, MG, RECN, WDFC
• Thursday:
  • Pre Market - WBA, STZ, SYRG
  • After Hours - PSMT, RT, ANGO

3:10 pm SolarCity announces plans to open a new 18K sq. ft facility in Albuquerque, NM; marking the company's first operations center in the state and following its NM service launch in early March (SCTY) :  

2:58 pm Mattel announces appointment of Interim CEO Christopher Sinclair to CEO, effective immediately; Sinclair will also continue as Mattel's Chairman (MAT) :  

2:52 pm Sprint clarifies that it has made no investment in the music streaming platform Tidal; acknowledges discussions to determine how best to make the service available to customers (S) :  

2:34 pm 3D Systems announces a multilayer partnership with UNYQ, a provider of personalized prosthetic fashion, to actively invest in 3D printing technology related to the prosthetics and orthotics industries (DDD) :  

2:28 pm Net Element announced that it entered into a strategic partnership with TAS Group to develop and promote Europay, MasterCard, and Visa solutions and systems in the US and various global markets (NETE) :  

2:20 pm Major averages edge to fresh afternoon high -- Dow +89, S&P +9.9, Nasdaq Comp +13 (:TECHX) :  

2:14 pm Quantum Fuel announces receipt of an order from UPS (UPS) for 319 fuel systems for UPS' heavy duty CNG vehicle program (QTWW) : The issuance of purchase orders will be coordinated through two OEMs and their installation partners. The delivery dates of the award are scheduled to begin in mid- 2015

1:06 pm NuStar Energy announces the start of its Second Binding Open Season of its South Texas Crude Oil Pipeline System by its affiliate, NuStar Logistics, L.P (NS) : With the first expansion of the South Texas Crude Oil Pipeline System nearing completion, Highway 99 in McMullen County, Texas has emerged as a desired new crude oil pipeline transportation origin. Current construction has resulted in an additional 10,000 barrels per day available for a firm volume commitment, after a 10 percent set-aside for walk-up shippers. Deliveries into the proposed Highway 99 origin would need to be under the 45 API gravity common grade.

1:00 pm United Tech division Pratt & Whitney announced it has signed nearly 200 long-term agreements, involving projected spending of more than $18 bln with key global product suppliers (UTX) : Related to its PurePower Engine Platform the company announced that is has developed and applied a suite of innovative materials technologies designed for its PurePower Geared Turbofan engine family. Currently the co's PurePower engine family has completed more than 16,000 hours and 31,000 cycles of full engine testing, including 3,500 hours of flight time

12:58 pm Midday Market Summary: S&P Trapped Between Technical Levels (:WRAPX) : The major averages hold slim gains at midday with the S&P 500 (+0.3%) trading a step ahead of the Nasdaq Composite (+0.1%). Equity indices have spent the first half inside narrow ranges with many participants likely getting a head start on their extended weekend.

The S&P 500 began the day on its 100-day moving average (2,060) and spiked off that level; however, the opening rally stalled during the first hour, just beneath the 50-day moving average (2,073). Since then, the benchmark index has returned into the middle of its trading range.

Nine of ten sectors sport midday gains, but two of the four top-weighted groups-health care (+0.1%) and technology (-0.1%)-have struggled to keep pace with the broader market. The technology sector has been pressured by large cap components like Google (GOOGL 542.79, -6.76), Microsoft (MSFT 40.18, -0.54), and Oracle (ORCL 42.57, -0.22) while biotechnology has contributed to relative weakness in health care. The iShares Nasdaq Biotechnology ETF (IBB 339.56, -0.52) is lower by 0.2%. Furthermore, the combined softness in biotechnology and technology helps explain the underperformance of the Nasdaq.

On the flip side, two other influential sectors-consumer discretionary (+0.6%) and financials (+0.5%)-have shown relative strength while the remaining cyclical groups sit closer to their flat lines.

Elsewhere, Treasuries sit on their lows after sliding throughout the morning. The 10-yr yield is higher by three basis points at 1.89%.

Economic data included Initial Claims, Trade Balance, and Factory Orders:

• The weekly initial claims level declined to 268,000 from an upwardly revised 288,000 (from 282,000) while the Briefing.com consensus expected a reading of 285,000 
  • That is the lowest initial claims level since the end of January 
  • According to the Department of Labor, there were no special factors that impacted the claims level. The drop in claims seems to be signal of improved labor market conditions 
• The U.S. trade deficit declined to $35.40 billion in February from an upwardly revised $42.70 billion (from $41.80 billion) in January while the Briefing.com consensus expected a deficit of $42.00 billion 
  • The February trade deficit was the lowest deficit since November 2009. The goods deficit fell by $7.40 billion to $55.20 billion and the services surplus decreased by $0.10 billion to $19.70 billion 
  • A steep decline in the petroleum-based trade deficit was the main catalyst for sharp drop. Currently, the U.S. is experiencing a significant supply glut, which lowered demand for crude imports, causing the petroleum-based deficit to shrink by $2.60 billion 
• Factory orders increased 0.2% in February after declining a downwardly revised 0.7% (from -0.2%) in January while the Briefing.com consensus expected a decline of 0.5% 
  • The unexpected increase in factory orders was a direct result of higher petroleum prices. Orders at petroleum refineries increased 11.3% in February after declining 11.2% in January. The gains in petroleum pushed up nondurable goods orders up 1.8% after declining 3.2% in January

12:56 pm Notable movers of interest (:SCANX) : The following are some of today's most notable movers of interest, categorized by market capitalization (large cap over $10 billion and mid cap between $2-10 billion) and ranked by % change (all stocks over 100K average daily volume). 

Large Cap Gainers

• KMX (74.79 +9.36%): Reported Q4 adj. EPS $0.65 (ex-$0.02 capitalized interest expense gain) vs. $0.60 Capital IQ consensus; rev +14% to $3.51 bln vs. $3.50 bln consensus.
• RAI (73.05 +3.87%): Reports out speculating Reynolds deal with Lorillard (LO) will receive FTC approval.
• CHU (16.7 +3.09%): Upgraded to Buy from Hold at Deutsche Bank.

Large Cap Losers

• SHPG (228.57 -1.82%): Under pressure after Hayman Capital, through the entity "Coalition For Affordable Drugs", filed a petition for Inter Parties Review on a patent controlled by Shire.
• DAL (42.4 -1.99%): Reported March PRASM was flat and mainline completion factor was 99.3% vs 99.8% year ago; Projected March quarter fuel price per gallon $2.90-2.95. 

Mid Cap Gainers

• GNW (7.83 +6.75%): Reports out that Genworth is looking into possible sale of its GLAIC Life unit.
• RAD (8.88 +3.58%): Reported March same store sales +4.3% vs +4.1% Retail Metrics consensus.
• DKS (58.64 +3.27%): Upgraded to Positive from Neutral at Susquehanna.

Mid Cap Losers

• NUVA (43.06 -5.57%): Downgraded to Underperform from Neutral at BofA/Merrill.
• ANET (66.66 -4.25%): Announced CFO Kelyn Brannon will leave the company for personal reasons. 

12:45 pm Duke Energy completes sale of its non-regulated Midwest generation business to Dynegy (DYN); expects to initiate a $1.5 bln accelerated share repurchase program within the next several business days (DUK) : The co announced the completion of the sale of its non-regulated Midwest Commercial Generation Business to Dynegy (DYN) for $2.8 billion in cash.

• In addition, the co announced that within the next several business days, the company expects to initiate ASR agreements with financial institutions to repurchase an aggregate of $1.5 billion of Duke Energy's common stock.

12:37 pm Amira Nature Foods announced that Amira Organic products will now be available in Costco (COST) stores in the United States (ANFI) : Costco (COST) will carry the 20lb bag of Amira Organic Sona Masoori Rice at locations in Arizona, California, Colorado, New Mexico, Nevada and Utah.

12:23 pm Delphi Automotive updates Q1, FY15 and FY17 guidance following sale of thermal business (DLPH) : Co updates Q1, FY15 guidance following sale of thermal business to MAHLE.

• Co now sees Q1 operating income $440-470 mln from $470-500 mln previously; rev $3.75-3.85 bln from $4.15-4.25 bln.
• Co now sees FY15 operating income $1.98-2.08 bln from $2.1-2.2 bln; sees rev $15.6-16.0 bln from $17.1-17.5 bln (+6%). 
• Strong NA mostly offset by weak SA and parts of EU.
• Co will use proceeds from sale of Thermal business for acquisition and share repurchases.
  

Co sees FY17 rev $19 bln with 17.5%/14% EBITDA/operating income margin.

12:06 pm Relative sector weakness (:TECHX) : Sectors that have underperformed the S&P in recent trade include: Industrial XLI, Semi SMH, Health XLV, Rail, Materials XLB, Retail XRT.

12:03 pm Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (184) outpacing new lows (46) (:SCANX) : Stocks that traded to 52 week highs: AB, ABCB, ABG, ADXS, AGO, AHL, ALG, AN, ANSS, ARAY, ASR, ATNI, ATRA, AZO, BEP, BFIN, BGCP, BHLB, BHV, BIO, BKMU, BLKB, BONA, BR, BRKL, CAG, CAJ, CAMB, CATY, CBG, CBM, CBPO, CBPX, CBZ, CCL, CEA, CEB, CFI, CHA, CHDN, CI, CMPR, CMT, CSF, CSGS, CTB, CUBI, CW, CWST, DAX, DHI, DKS, DLX, DST, EFSC, EIG, ELGX, ENTG, ESLT, ESSA, EURN, EXPE, FCBC, FCHI, FDP, FDS, FFG, FICO, FLO, FMD, FRP, FRPH, FRPT, FSRV, GCI, GFF, GIII, GILT, GNCMA, HBOS, HCKT, HDS, HIFR, HMN, HNI, HRC, HSII, HTBK, IBKR, ICLN, ICUI, IIVI, IMH, IMKTA, INAP, INS, JBT, JFC, JHP, JKHY, JLL, KAI, KFY, KMG, KMX, KRFT, KSS, KVHI, LAMR, LEA, LEN, LEN.B, LHCG, LMNS, LNCE, LNDC, LO, MAN, MASI, MCBK, MCO, MCS, MERC, MGLN, MHLD, MLI, MMS, MOH, MRKT, MSCI, NHF, NORD, NVO, OFIX, OSBC, OSIS, PBH, PFBC, PNK, PRFT, QUNR, RAD, RALY, RDI, REV, RLGT, RNST, ROL, ROLL, RTRX, SHEN, SHI, SHOO, SIGM, SMMT, SPNS, SPOK, SPR, SPTN, SRLP, SSB, STRZA, SUBK, SUNE, SXT, SYBT, SYKE, TERP, THFF, TIK, TNP, TOL, TREX, TRI, TRIL, UAM, UCFC, USAT, USCR, VG, WFD, WU, XRM, ZNH

Stocks that traded to 52 week lows: AMDA, ARCW, BOSC, DCTH, DPW, EBIO, ELTK, ETAK, EVRY, FENG, FNJN, FREE, FULL, GLRI, GRAM, GRMN, HEAR, ICON, IEC, IRG, ISDR, KCAP, KLAC, LINC, LPTN, MIND, MOMO, MVO, MXPT, NVTA, OCRX, OHRP, OPXA, PHII, RLJE, RXII, SINA, SKIS, TAOM, UACL, USEG, VALE, VALE.P, WRN, WTW, XPL

ETFs that traded to 52 week highs: FXI, GXC, HAO

ETFs that traded to 52 week lows: EGPT, FXA

12:02 pm ARC Group priced its public offering of 3 mln shares of common stock at a price to the public of $5.00 per share (ARCW) :  

12:02 pm Marketaxess announces total monthly trading volume for March 2015 of $93.6 bln, consisting of $54.4 bln in U.S. high-grade volume, $32.8 bln in other credit volume, and $6.4 bln in liquid products volume (MKTX) :  

12:01 pm Expedia announces plans to purchase Amgen's (AMGN) multi-building, waterfront campus in the City of Seattle and move its headquarters to the new space by 2018 (EXPE) : The purchase price for the property is $228.9 million and the transaction is expected to close in the second quarter of 2015.

12:00 pm Foundation Medicine stockholders approve pending Roche (RHHBY) transaction at special meeting of stockholders; closing of the Roche transaction is expected to occur on April 7, 2015. (FMI) :  

12:00 pm Stock indices extend slide off early high in midday trade -- Dow +22, S&P +4, Nasdaq Comp +0.5 (:TECHX) :  

11:56 am Northwest Biotherapeutics has entered into agreement with Woodford Investment Management LLP for financing of $40 mln (NWBO) : Woodford will purchase $40 million of the Company's common stock at $7.40 per share, for a total of 5,405,405 shares. The purchase will take place in two closings, with $11.5 million closing on or before April 8, and the remaining $28.5 million closing on or before April 30. There are no warrants, pre-emptive rights, or other rights or preferences.

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

• UK's FTSE:+0.4%
• Germany's DAX:-0.3%
• France's CAC:+0.2%
• Spain's IBEX:+0.5%
• Portugal's PSI:+0.4%
• Italy's MIB Index:-0.2%
• Irish Ovrl Index:+0.1%
• Greece ASE General Index: +0.8%

11:19 am Currency Commentary: DXY Dips Ahead of Jobs Report (:SUMRX) :

• The Dollar Index slipped back below the 98 level. Holiday volume has crept in so all moves are a little suspect. Economic data was solid this morning (Challenger, Claims, Trade and Factory Orders all better than expected) so that is not behind the move. It is likely some positioning ahead of tomorrow's job number. That would stem from a weaker than expected ADP number from yesterday. Focus will turn to the BLS report with current Nonfarm Payroll expectations sitting at250K.
• The euro has move back above the 1.08 level despite headline rumors that Greece will run out of money after its April 9 IMF payment (Greece has since denied these rumors). The ECB released its latest minutes. There were few surprises although some members thought growth forecasts may have been a little too high.
• The pound has been able to grind back above the 1.48 level in uneventful trade. 
• The yen continues to trade just below its 50 (119.50) and 100 sma (119.06). The country held an auction for 10-year notes last night. Yield was 0.37% compared to 0.40% at a prior auction and Bid to cover was a solid 1.7x compared to 1.5x at the last sale (BONDX, FOREX).

11:16 am Orrstown Financial Services announces that the Federal Reserve Bank of Philadelphia has terminated its Written Agreement with Orrstown dated March 22, 2012 (ORRF) : As a result of the termination of the Written Agreement by the Federal Reserve Bank, both the Company and the Bank have been released from all outstanding enforcement actions.

10:48 am Modest drift back off highs -- Dow +58, S&P +6.4, Nasdaq Comp +5.5. (:TECHX) : Intraday relative sector weakness in Pharma PPH, Crude Oil USO, Gold GLD, Internet FDN.

10:41 am Homebuilders (ITB +1.2) nearing all time intraday high set on Tuesday (ITB) : The homebuilders (ITB +1.2%) are approaching an all time high, set intraday on Tuesday.

• Housing data has been the lone bright spot amid recent weak economic data. 
• Recent homebuidler reports also indicate the Spring Selling season is off to a solid start
  
• MHO +2.9%, BZH +2.3%, TPH +2.2%, WLH +2.2%, KBH +2.1%, SPF +1.9%, TMHC +1.9%, DHI +1.6%, MDC +1.5%, LEN +1.4%, TOL +1.3%, ITB +1.1%, MTH +1.1%, PHM +1.1%, LGIH +1.1%, XHB +1%, RYL +0.9%, HOV +0.6%
  

10:20 am Canadian Solar announces that it energized four projects totaling 40.2 MWp in the United Kingdom (CSIQ) : All four parks use Canadian Solar's 60 cell solar modules. An additional two solar projects are expected to be connected in the second quarter of 2015. Cumulatively, these six solar projects will produce approximately 50,183 megawatt-hours of electricity per year, which will displace approximately 38,140 metric tons of carbon dioxide per year, equivalent to removing over 7.276 cars from roads in the United Kingdom

10:16 am Ashland's Specialty Ingredients unit plans to invest ~$89 mln over the next three years to expand specialty chemical production at its manufacturing facility in Hopewell, Virginia (ASH) : The plant expansion is expected to begin during the summer of 2015. An estimated 17 new jobs are expected to be added to the facility's current total of 237 positions as a result of the expansion.

10:05 am New highs for major averages -- dow +112, S&P +12, Nasdaq Comp +20 (:TECHX) : Recent intraday relative sector strength in: Telecom IYZ, Discretionary XLY, Defense PPA, Casino BJK, Oil Service OIH. 

10:04 am Sirius XM Radio and Nissan (NSANY) announce that Nissan will launch NissanConnect Services powered by SiriusXM, in select 2016 model year Nissan vehicles (SIRI) : The all-new telematics program is Nissan's first in-vehicle launch of SiriusXM's connected vehicle services and will feature vehicle security, vehicle health monitoring, remote access services, and more.

10:03 am Dunkin Brands announces that beginning today, Dunkin' K-Cup pods will be available for sale online for the first time (DNKN) :  

10:02 am Eldorado Resorts announces that following approval from the Pennsylvania Gaming Control Board that it will soon commence construction on a range of design and facility enhancements at its Presque Isle Downs & Casino (ERI) : The co has developed a five part plan for Presque Isle Downs, which was the sole gaming offering in the region when it began gaming operations in February 2007. Reflecting increased competition and Eldorado's commitment to food, beverage and hospitality excellence, the Company intends to invest approximately $5.1 million in property upgrades and improvements in 2015.

9:51 am PNC announces increase in its quarterly common stock dividend to $0.51/share from $0.48/share (PNC) :  

9:51 am Major averages run to new session highs -- Dow (:TECHX) : Sectors that have outperformed the S&P in recent trade include: Casino BJK, Oil Service OIH, Housing XHB, Staples XLP.

9:48 am Net 1 UEPS Techs announces that its Cash Paymaster Services subsidiary has been named as a respondent in a Notice of Motion filed by Corruption Watch, a South African non-profit civil society organization (UEPS) : The Notice of Motion seeks an order from the High Court of South Africa for the reviewing and setting aside of the decision by the Chief Executive Officer of the South African Social Security Agency on April 25, 2014 to approve payment of ~$26.4 million to CPS. Corruption Watch claims that there was no lawful basis for the SASSA CEO's decision, that the decision was "unreasonable and irrational" and that the decision did not comply with South African legislation. The Company is currently taking legal advice regarding the Notice of Motion to determine the appropriate course of action, if required.

9:48 am iShares MSCI Emerge Mkts extends gap higher start near its four month high from Jan at 41.11 -- session high 41.08 (EEM) : The EEM has outperformed the S&P over the last two weeks with today's early run bringing its four month high into play. 

9:43 am Opening Market Summary: Little Change in the Early Going (:WRAPX) : As expected, the major averages began the day near their flat lines. The S&P 500 hovers just above its unchanged level while the Nasdaq Composite sits below its flat line.

Seven of ten sectors trade in the green, but their gains have been limited to no more than 0.2% so far. The consumer staples sector (+0.2%) leads while energy (-0.1%) sits in the red amid weakness in crude oil. The energy component trades lower by 2.3% at $48.93/bbl. Similarly, the top-weighted technology sector (-0.1%) also hovers in the red.

Treasuries remain on their lows with the 10-yr yield up one basis point at 1.87%.

9:38 am Sector Watch (:TECHX) : Groups that are on the plus side in the early going include: Retail XRT, Casino BJK, Home Const ITB, Semi SMH, Cola KOL, Defense PPA, Reg Bank KRE, REITs IYR.

9:36 am Mixed start turns slightly positive -- Dow +13, S&P +1.5, Nasdaq Comp +2.4 (:TECHX) :  

9:36 am Nektar Therapeutics announces that it has received a $100 mln payment under a license agreement with AstraZeneca (AZN) (NKTR) : The cash payment under the Nektar-AstraZeneca (AZN) agreement was triggered by the first commercial sale of MOVANTIK (naloxegol) in the U.S.

9:36 am Paratek Pharma reports FY14 results -- expects top line results of Phase 3 ABSSSI trial in 3Q16 (PRTK) : FY14 EPS ($7.82) vs. ($2.06) consensus and ($185.13) last year.

• Revenue in 2014 was $4.3 million, consisting of a $4.0 million milestone payment from Actavis Plc earned during the fourth quarter for the start of a Phase 3 clinical trial for sarecycline and recognition of $0.3 million in deferred revenue upon the termination of a collaborative research, development and commercialization agreement with a leading global animal health provider. Revenue in 2013 was $0.5 million, consisting of research and development revenue earned under various collaborations. 
• "We have ended 2014 and our first quarter as a public company well positioned to execute against our clinical development plans, and we are actively advancing our lead antibiotic candidate, omadacycline, into two Phase 3 clinical trials in acute bacterial skin and skin structure infections (:ABSSSI) and community-acquired bacterial pneumonia (:CABP). We believe we are adequately resourced through the unblinding of the top line results of our Phase 3 ABSSSI trial, which we currently expect to occur in the third quarter of 2016."
  

9:33 am Good Times Restaurants announces same store sales increase of 8.2% Y/Y (GTIM) : Co noted that its three year compound increase in same store sales of 35.4%. Co reported total sales from its three Bad Daddy's Burger Bar restaurants were $2.01 mln for the quarter. The Company also reported that it is on track to open a new Good Times restaurant in late April 2015. Finally, co mentioned that a new Bad Daddy's franchised restaurant opened during the quarter. It is located in Knoxville, Tennessee and operated under a franchise agreement with Bad Daddy's Franchise Development in which the Company owns a 48% interest

9:31 am Polo Ralph Lauren Announces Executive Leadership Changes; Robert L. Madore to be appointed CFO (RL) : Jackwyn Nemerov will continue in her role as President & Chief Operating Officer and a member of the Company's Board of Directors. 

• Christopher H. Peterson, previously Executive Vice President, Chief Administrative Officer and Chief Financial Officer, has been promoted to the newly created position of President, Global Brands. 
• Mitchell A. Kosh, previously Executive Vice President of Human Resources, has been promoted to Executive Vice President and Chief Administrative Officer.
  
• Robert L. Madore, previously Senior Vice President of Finance, has been promoted to Senior Vice President and Chief Financial Officer.
  
• Valerie Hermann will continue in her role as President of Ralph Lauren Luxury Brands.
  

9:21 am Wintrust Fin announces the signing of a definitive agreement to acquire Suburban Illinois Bancorp for ~$12.5 mln (WTFC) : Suburban Illinois Bancorp is the parent company of Suburban Bank & Trust Company, an Illinois-state chartered bank, which operates ten banking locations in Chicago and its suburbs. As of December 31, 2014, SBT had ~$470 million in assets, ~$297 million in loans and ~$411 million in deposits.

• The transaction is expected to close late in the second quarter or early in the third quarter of 2015 and is not expected to have a material effect on Wintrust's 2015 earnings per share.
  

9:16 am Tel-Instrument reports Q4 results, revenues rise 43% YoY to $6.44 mln (TIK) :

• This represents record revenues for Tel and is a 43% increase from the year ago period.
  
• Unaudited annual revenues increased to $18.2 million, a 15% increase from year ago levels.
• The co's CEO stated, "This continues the steady momentum we have achieved during this fiscal year with revenues increasing sequentially each quarter. This substantial revenue increase is expected to result in solid bottom line profitability for the quarter."
  
• "The co will provide revenue guidance on the first fiscal quarter in the early May timeframe when more information on the timing of the U.S. Army TS-4530A SET production release is expected to be available."

9:14 am S&P futures vs fair value: -1.30. Nasdaq futures vs fair value: +5.60. (:WRAPX) : The stock market is on track for flat open as futures on the S&P 500 trade within a point of fair value. Index futures have spent the night in negative territory, but they began climbing off their lows once markets in Europe opened for action.

Yesterday, the benchmark index surrendered its week-to-date gain and will enter today's session down 0.1% since last Friday. Keep in mind that the stock market will be closed tomorrow for Good Friday; however, the Nonfarm Payrolls report for March will still be released at 8:30 ET (Briefing.com consensus 250K).

As for today's data, weekly initial claims dropped to 268,000 from 288,000 while the Briefing.com consensus expected a reading of 285,000. Meanwhile, the trade deficit for February narrowed to $35.40 billion from $42.70 billion (expected deficit of $42.00 billion).

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

The Factory Orders report for February (consensus -0.5%) will be released at 10:00 ET.

9:07 am PlasmaTech Biopharma has entered into a definitive purchase agreement with Knoll Capital Management to raise $5 mln in a private placement of common stock (PTBI) : The private financing is comprised of 1,666,667 shares of common stock, at a price of $3.00 per share. PlasmaTech plans to use the proceeds of the financing to accelerate development of its proprietary Salt Diafiltration Plasma Protein technology, working capital and general corporate purposes.

9:05 am Trinity Biotech prices offering of $100 mln of 4.00% exchangeable senior notes due 2045 (TRIB) :  

9:04 am Campus Crest Communities: Clinton Group And Campus Evolution Villages shareholder groups send an open letter to other shareholders (CCG) : Groups stated: "We have assembled a very attractive portfolio of assets and have driven bottom line performance for our investors by managing day to day and dollar by dollar. We believe bringing the same management philosophy to Campus Crest will enable us to right the ship and create shareholder value. The recent dividend cut is disappointing, especially in light of the Board's ongoing process to sell the Company. However, we believe our proposal to remain independent with what we view as a better aligned Board and superior management provides a credible alternative to a change of control at a premium to NAV."

9:03 am IBM and China Telecom (CHA) announce a partnership to accelerate mobile enterprise adoption for Chinese organizations (IBM) : The co's notes that together, they will empower organizations, from traditional enterprises to start-ups, to benefit from native mobile solutions with greater security and flexibility. By taking advantage of mobile and cloud computing technology, businesses will gain the speed and scalability to confidently increase mobile adoption across the enterprise, resulting in improved employee productivity, customer engagement and business growth. 

9:03 am Medtronic announces acquisition of Diabeter, a Netherlands-based diabetes clinic and research center; terms not disclosed (MDT) :  

9:03 am Delta Air Lines reports March PRASM was flat and mainline completion factor was 99.3% vs 99.8% year ago; Projected March quarter fuel price per gallon $2.90-2.95 (DAL) : Consolidated passenger unit revenue (:PRASM) for the month of March was flat year over year, as domestic strength offset pressure in international markets, predominantly from currency fluctuations, which reduced system PRASM by 1.5 points. Domestic PRASM grew 2.5% for the month. Projected fuel price of $2.90 - $2.95 includes taxes, transportation, settled hedges, hedge premiums and refinery contribution and is adjusted for MTM adjustments. It also includes $0.33/gallon associated with the early settlement of hedges.

9:02 am Air Methods enters into long-term agreement with Vanderbilt LifeFlight (AIRM) :

• Co announced that it entered into a partnership with Vanderbilt University to acquire certain assets utilized in connection with the Vanderbilt LifeFlight Program, including medical equipment and three Airbus Helicopters EC-145 aircraft, as well as a 10-year agreement restructuring the program under Air Methods' Alternative Delivery Service Model.
  

9:02 am Thoratec announces it received final approval from the FDA to broaden enrollment of the HeartMate III U.S. clinical trial of up to 1,028 patients in up to 60 sites (THOR) :

• Co announced that it received final approval from the FDA to broaden enrollment of the HeartMate III U.S. clinical trial of up to 1,028 patients in up to 60 sites. 
• This was based on the FDA's evaluation of safety data from the first ten HeartMate III implants performed in recent months during a limited enrollment phase at five sites.
  

9:02 am Lakeland Industries announces an amendment to its senior revolving credit facility with AloStar Bank of Commerce (LAKE) : The amended terms include a 200 basis point reduction in interest rate with a new floor lowered to 4.25% and a term extension by one year to June 28, 2017. Maximum borrowing capacity under the amended revolving credit facility remains $15 million.

9:02 am TiVo: Virgin Media announces confirmation of agreement extension with Tivo (TIVO) : Co announces a new agreement, extending for a further three years the existing five-year partnership with Virgin Media in the UK. As part of the new agreement, Virgin Media has committed to the development of next-generation solutions from TIVO. Further details of pricing and availability will be announced in due course.

9:01 am Alliance One regains compliance with NYSE listing requirements (AOI) :

• Co announced that it received notice on April 1, 2015 from the NYSE that it has regained compliance with the NYSE's continued listing standards, after the average closing share price of its common stock for the 30 trading days ended March 31, 2015 and the closing price of its common stock on March 31, 2015 exceeded $1.00.
  

9:00 am Conatus Pharma announces pricing of 3.5 mln share public offering of common stock at $5.75/share (CNAT) : Co announced that it has priced an underwritten public offering of 3,500,000 shares of its common stock at a price to the public of $5.75 per share. Gross proceeds, before underwriting discounts and commissions and estimated offering costs, are expected to be approximately $20.1 million. Conatus has granted the underwriters a 30-day option to purchase up to 525,000 additional shares of its common stock. The offering is expected to close on or about April 8, 2015. Stifel and Roth Capital Partners are acting as book-running managers for the offering.

8:54 am S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: +4.20. (:WRAPX) : The S&P 500 futures hover two points below fair value.

Asian equity markets closed mostly higher this morning. The stand out among all the indices was the Nikkei, which was as much as 2% on the day. The catalyst was the prospects of more stimulus from the BOJ, after the Tankan Quarterly Report indicated large companies are forecasting inflation of +1.4% within 12 months and just +1.6% in the next 3 years (far below the 2% inflation target objective that the BOJ has set for FY16). In China, a similar theme helped to push stocks higher, with the Shanghai inching closer to 7 year highs again. Several analysts called for a fresh round of easing by the PBOC after a note from Fitch indicated that latest stimulus to help the property market may have a limited impact considering the glut of supply in the housing market.

• In economic data: 
  • Hong Kong's Manufacturing PMI fell to 49.6 from 50.7 
  • India's HSBC Markit Manufacturing PMI rose to 52.1 from 51.2 (expected 51.0) 
  • South Korea's Current Account surplus narrowed to KRW6.44 billion from KRW6.58 billion 
  • Australia's Trade Deficit widened to AUD1.26 billion from AUD1.00 billion (expected deficit of AUD1.30 billion) while March MI Inflation Gauge ticked up 0.4% month-over-month (prior 0.0%) 

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• Japan's Nikkei gained 1.5%. All sectors finished in positive territory with Financials and Consumer Discretionary both leading the way, up +1.8%. Notably, Mizuho traded higher by 1.8%, while Toshiba posted a 2.3% gain. 
• Hong Kong's Hang Seng ended +0.8% higher. Financials were on the move higher again with Bank of China and China Construction Bank both advancing by 1.1% 
• China's Shanghai Composite rose 0.4%. The volume was lighter than some of the most recent days, but shipbuilders saw some profit taking with the likes of China Shipbuilding Ind Co finishing 1% lower on the day. 

Major European indices trade near their flat lines amid light volume. European Central Bank member Sabine Lautenschlager voiced concerns over the QE program, saying low interest rates can lead to price bubbles among other assets.

• Economic data was limited: 
  • UK's Construction PMI fell to 57.8 from 60.1 (expected 59.5) 
  • Italy's Q4 Public Deficit came in at 2.3% (prior 3.0%) 

------

• Germany's DAX is lower by 0.1% with heavyweights Bayer, Daimler, and Deutsche Lufthansa down between 1.2% and 3.0%. Select basic materials names outperform with K+S and ThyssenKrupp higher by 2.2% and 0.7%, respectively. 
• UK's FTSE has added 0.1%. Mining names like Anglo American, Antofagasta, BHP Billiton, and Glencore down between 1.2% and 2.3% while consumer names outperform. Marks & Spencer Group has jumped 5.6% after reporting strong quarterly sales. 
• In France, the CAC trades up 0.1%. Financials and discretionary names lead with L'Oreal, Danone, and BNP Paribas holding gains between 0.2% and 0.6%.

8:47 am Gapping down (:SCANX) : Gapping down
In reaction to disappointing earnings/guidance: SEAC -7.5%, EDAP -5.8%, SIGM -2.8%

Select oil/gas related names showing early weakness: RIG -1%, CHK -0.8%, OAS -0.6%, SDRL -0.6%, BP -0.5%

Other news: CNAT -8.7% (to offer shares of its common stock in an underwritten public offering), NBG -4% (cont uncertaintly in Greece), VLTC -4% (modest pullback after yday's advance), RPTP -2.8% (priced 9.5 mln shares of its common stock at $9.00 per share), SHPG -2.5% (Hayman Capital through the entity "Coalition For Affordable Drugs" filed a petition for Inter Parties Review on a patent controlled by Shire), AXTA -1.7% (priced upsized secondary offering of 40 mln shares of common stock at $28 per share), ZIOP -1.5% (disclosed that on April 1, 2015, it filed a prospectus supplement covering the resale of 11,722,163 shares of its common stock that were originally issued to The Board of Regents of the University of Texas System)

Analyst comments: INFN -3.3% (downgraded to Neutral from Buy at Goldman), GRMN -1.8% (downgraded to Neutral from Buy at Goldman), NUVA -1% (downgraded to Underperform from Neutral at BofA/Merrill), COTY -1% (downgraded to Market Perform from Outperform at BMO Capital), SPB -0.8% (downgraded to Market Perform at BMO Capital).

8:46 am Ametek announces an increases in its share repurchase authorization by $350 mln; will be added to $20 mln existing authorization (AME) :  

8:44 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: KMX +4.5%, PERY +4.3%, LL +2.1%, URBN +1.7%, (Urban Outfitters reports thus far 2016 Q1 comparable Retail segment net sales are mid single-digit positive), MU +1.2%, PRGS +1%, ELTK +0.9%

M&A news: LO +3.1% (moving higher in recent trade following speculation that LO / RAI deal will be approved by FTC),SOPW +2.5% (announces the acquisition of 'Aerojet' solar projects),RAI +2.4% (moving higher in recent trade following speculation that LO / RAI deal will be approved by FTC)

Other news: RPPX +19.1% (announced that the New Drug Application for its enclomiphene citrate product candidate, formerly known as Androxal, has been accepted by the FDA),WBAI +17.1% (attributed to speculation of potential restart of China online lottery),KEM +10.7% (purchased IntelliData, a developer of digital solutions; terms not disclosed),TCPI +10.4% (announces that its product validation review is proceeding as expected; discloses a delay in filing its Form 10-K ),HERO +8.8% (signed a five-year contract with a subsidiary of Eni S.p.A. (E) for use of the Hercules 260 in West Africa),FXCM +6.6% (announces it has repaid an additional $54 mln outstanding under credit agreement with Leucadia (LUK); avoids contingent financing fee of $30 mln),ZN +5.8% (co has closed a venture loan to Education Elements, a services and software solution provider that helps districts and schools develop and implement personalized learning strategies),CNDO +4.6% (forms new subsidiary, DiaVax Biosciences, to develop novel immunotherapies for Cytomegalovirus; DiaVax secures rights to two clinical-stage program),RICK +4% (announced an agreement to settle in full a New York based federal wage and hour class action case),CNO +3.7% (to replace SLXP in the S&P MidCap 400),AN +3.3% (reported retail sales of 77,242 new vehicles in the first quarter of 2015, an increase of 10%),TXMD +3.1% (favorable commentary on Wednesday's Mad Money),OMER +2.9% (announces the nationwide commercial availability of Omidria ),XON +2.4% (Intrexon signs cooperative Research and Development agreement with NCI),MDVN +2.4% (announced topline results from the Phase 2 STRIVE trial comparing enzalutamide with bicalutamide),GENE +2% (ongoing vol pre-mkt; rumor of partnership with JNJ yday),RCPT +1.5% (following late surge highs on M&A speculation),WWE +1.4% (reported that WrestleMania 31 broke records for viewership, attendance, social and digital media engagement and merchandise sales),FRPT +1.3% (favorable commentary on Wednesday's Mad Money),ALK +1.3% (provides March operational results),GZT +1.2% (still checking),HLF +1.2% (Pershing Square issues statement responding to WSJ article about Herbalife in China),ALV +1% (following monthly auto sales),HCA +0.9% (favorable commentary on Wednesday's Mad Money)

Analyst comments: WPT +1.8% (upgraded to Buy from Neutral at BofA/Merrill ),TSLA +1.8% (positive Credit Suisse note),FB +0.7% (target raised to $97 from $91 at Citigroup),DKS +0.5% (upgraded to Positive from Neutral at Susquehanna)

8:43 am European Markets Update: DAX -0.1%, FTSE +0.1%, CAC +0.1% (:SUMRX) : Major European indices trade near their flat lines amid light volume. European Central Bank member Sabine Lautenschlager voiced concerns over the QE program, saying low interest rates can lead to price bubbles among other assets.

• Economic data was limited: 
  • UK's Construction PMI fell to 57.8 from 60.1 (expected 59.5) 
  • Italy's Q4 Public Deficit came in at 2.3% (prior 3.0%) 

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• Germany's DAX is lower by 0.1% with heavyweights Bayer, Daimler, and Deutsche Lufthansa down between 1.2% and 3.0%. Select basic materials names outperform with K+S and ThyssenKrupp higher by 2.2% and 0.7%, respectively. 
• UK's FTSE has added 0.1%. Mining names like Anglo American, Antofagasta, BHP Billiton, and Glencore down between 1.2% and 2.3% while consumer names outperform. Marks & Spencer Group has jumped 5.6% after reporting strong quarterly sales. 
• In France, the CAC trades up 0.1%. Financials and discretionary names lead with L'Oreal, Danone, and BNP Paribas holding gains between 0.2% and 0.6%.

8:37 am Vapor announces restructuring following Vaporin merger (VPCO) : Co announced its recent organizational restructuring to further maintain the Company's competitiveness and establish its branded products and retail stores in an increasingly evolving e-cigarette and vaporizer market.

• Vapor Corp. has brought on several new members to its revamped mgmt team, including President and Director Gregory Brauser, Chief Financial Officer James Martin and new Board Member Robert Swayman. 
• The Company is poised to open an additional 20 to 30 branded retail "The Vape Stores" before the end of fiscal 2015.
  

8:31 am Capstone Turbine announces that it received an order for three C1000 microturbines to upgrade luxury resorts on the island of Maui, Hawaii (CPST) : Critchfield Pacific Inc., Capstone's new Hawaiian distributor, secured the order, which is expected to be commissioned in February 2016.

8:31 am TransCanada alters Quebec scope of energy east pipeline project; part of that altered scope includes the decision not to build a marine and associated tank terminals at Cacouna, Quebec (TRP) : Co announces it is altering the scope of the Energy East pipeline project in Quebec as part of its continued commitment to stakeholder consultation, environmental stewardship and community safety. Part of that altered scope includes the decision not to build a marine and associated tank terminals at Cacouna, Quebec. Potential alternative terminal options in Quebec are being reviewed.

• Energy East represents the opportunity to establish a reliable supply of primarily Western Canadian crude oil for refineries in Quebec and New Brunswick. In addition, the project will support 14,000 direct and indirect full-time jobs across Canada during development and construction, and generate more than $7 bln in additional tax revenues in the first 20 years of operation for local, provincial and federal governments, along with blns of dollars in economic activity across the country.
  
• "This decision is the result of the recommended change in status of the Beluga whales to endangered and ongoing discussions we have had with communities and key stakeholders. We have listened and our decision reflects that. Our goal has been to strike a balance between TransCanada's commitment to minimizing environmental impacts and the imperative to build modern infrastructure to safely transport the energy Canadians need and consume every day." 

8:31 am S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: +4.30. (:WRAPX) : The S&P 500 futures trade two points below fair value.

The latest weekly initial jobless claims count totaled 268,000 while the Briefing.com consensus expected a reading of 285,000. Today's tally was below the revised prior week count of 288,000 (from 282,000). As for continuing claims, they fell to 2.325 million from 2.413 million.

Separately, the February trade deficit narrowed to $35.40 billion from $42.70 billion while the Briefing.com consensus expected the deficit to come in at $42.00 billion.

8:31 am OncoMed Pharma and Eli Lilly (LLY) announce a clinical supply agreement regarding Demcizumab and Alimta to treat lung cancer (OMED) : Cos announced that they have entered into an agreement whereby Lilly will provide clinical supply of Alimta for OncoMed's ongoing Phase 2 DENALI trial

8:31 am Market View: Front-month Jun. stock-index futures little changed following the 8:30 am ET economic data points (:TECHX) :

• ESm5 now @ 2049.50 -3.50
  
  
• YMm5 now @ 17595 -20
  
  
• NQm5 now @ 4306.25 -6.75

8:31 am Female Health announces that it expects to report unit sales for the second quarter of FY2015 totaling approximately 20.8 million units (FHCO) : The co notes this achievement represents an increase of ~184% relative to the corresponding period of the previous fiscal year and an increase of ~71% relative to the first quarter of FY2015.  It is also the largest quarterly unit sales in the Company's history.

8:23 am Furmanite announces that it will mail a letter to shareholders in connection with the Company's 2015 Annual Meeting of Stockholders; unanimously recommends that shareholders vote the GOLD proxy card FOR all five of the Company's director nominees (FRM) :  

8:16 am CenterPoint announces that on April 6, its electric transmission and distribution business, CenterPoint Energy Houston Electric plans to file an application for Distribution Cost Recovery Factorwith the Public Utility Commission of Texas and the cities in its service area (CNP) : DCRF is an interim rate adjustment that, if approved, permits an electric utility to implement new rates to account for changes in distribution invested capital since its last rate case. The application will seek to recover approximately $16.7 million in annual revenue attributable to certain capital investments the company has made in its electric distribution infrastructure since 2009. The estimated residential customer impact based on a monthly usage of 1,000 kilowatt hours is a $0.31 increase billed to the consumer's Retail Electric Provider. New rates are expected to go into effect by September 1.

8:07 am Heron Therapeutics reaches target patient enrollment in MAGIC Phase 3 study of SUSTOL -- top line results expected in May (HRTX) : Co has reached its enrollment target in MAGIC (Modified Absorption Granisetron In the Prevention of Chemotherapy induced nausea and vomiting (CIN.V)) and is in the process of closing enrollment of new patients at its clinical sites. MAGIC is Heron's Phase 3 study evaluating the efficacy of SUSTOL (granisetron injection, extended release) in the prevention of delayed-onset CINV following administration of highly emetogenic chemotherapy (HEC.V) agents.

• Topline Results Expected in May 2015 
• NDA Resubmission Expected Mid-Year 2015
  

8:04 am CB&I has been awarded a contract valued at ~$50 million for the engineering, procurement, fabrication and construction of seven storage tanks near Fort McMurray, Alberta, Canada (CBI) :  

8:04 am EarthLink announces that Louis M. Alterman will succeed Mr. Ferguson in the position of Executive Vice President, CFO (ELNK) : Alterman has served the co in a variety of financial roles since 2003. Most recently he has served as Executive Vice President, Strategy, Operations and Transformation and from August 2012 to September 2014, he served as Senior Vice President, Finance and Treasurer.

8:04 am JA Solar announced that Yong Liu Chief Technology Officer resigned (JASO) : Liu has also relinquished his position on the Board of Directors, effective March 31, 2015. The Company appointed its current head of research and development, Dr. Wei Shan, as Chief Technology Officer to replace Mr. Liu. The Company also announced the appointment of Mr. Yuhong Fan to the Board of Directors effective March 31, 2015.

8:02 am Check Point Software announces its intention to acquire Lacoon Mobile Security; terms not disclosed (CHKP) :

• Co announced its intention to acquire Lacoon Mobile Security. Lacoon is leading the industry in providing a solution to secure the entire mobile device, with the best advanced threat catch-rate for enterprise-grade mobile security platforms.
• Lacoon not only provides the most comprehensive solution for iOS and Android, but also delivers real-time mobile security and intelligence to an organization's existing security and mobility infrastructures
  

8:02 am IPC Healthcare acquired Geriatrics Associates; no financial terms disclosed (IPCM) : The patient encounters for the practice are estimated at approximately 44,000 on a combined annualized basis.

8:02 am Iao Kun Group announces March Rolling Chip Turnover at co's VIP rooms in Macau was $0.76 bln, down 57% YoY (IKGH) : Co announced March 2015 unaudited Rolling Chip Turnover at the company's VIP rooms in Macau was US$0.76 billion, down 57% year-over-year. Win rate for the month of March 2015 was 4.51%.

8:02 am Netsol announces an update on its consolidated lawsuits (NTWK) : On March 19, 2015, the District Court granted the Company's motion to dismiss the Consolidated Complaint. As is common, the Court provided the lead plaintiff an opportunity to file an amended complaint. On March 31, 2015, the lead plaintiff filed a First Amended Consolidated Complaint, which includes allegations similar to but more narrow than those in the dismissed complaint. The Company continues to believe that the claims are meritless and intends to continue to vigorously defend itself, including filing a motion to dismiss the amended complaint.

8:01 am Simon Properties announces $2 bln common stock repurchase program (SPG) :  

8:01 am Tempur Sealy Int'l: H Partners shareholder files proxy materials regarding Tempur Sealy 2015 Annual Meeting (TPX) : H Partners shareholder urges other shareholders to vote against: Mark Sarvary, CEO, P. Andrews McLane, Chairman of the Board,  Christopher A. Masto, Chairman of the Nominating and Corporate Governance Committee.

• Group stated: "Tempur Sealy's 140% stock underperformance over the last three years under CEO Mark Sarvary and the current Board is unacceptable, and we believe many other stockholders share our view. By voting against the election of Messrs. Sarvary, McLane and Masto, stockholders will send a strong message that they are dissatisfied with the Board's failure to hold CEO Sarvary accountable for Tempur Sealy's significant underperformance."
  

8:01 am Scorpio Tankers announces newbuilding vessel deliveries (STNG) :

• The Company recently took delivery of the following vessels: 
• STI Pontiac, an MR product tanker, was delivered from Hyundai Mipo Dockyard of South Korea in March 2015. Upon delivery, this vessel began a time charter for up to 120 days at approximately $18,200 per day. 
• STI Manhattan, an MR product tanker, was delivered from SPP Shipbuilding of South Korea in March 2015. Upon delivery, this vessel began a time charter for up to 120 days at approximately $19,600 per day. 
• STI Winnie, an LR2 product tanker, was delivered from Daewoo Shipbuilding and Marine Engineering in March 2015. Upon delivery, this vessel began a voyage for 55 days at approximately $33,500 per day.

8:01 am Wal-Mart's Sam's Club expands generic prescription savings for Plus members (WMT) : New savings on generic prescriptions, some of which are available free of charge or at a discounted cost of $4 or $10 at specified quantities, are now available in all Sam's Club locations with pharmacies.

8:00 am Raytheon announces it was awarded a $212 mln contract to continue improvements to the combat-proven Patriot Air and Missile Defense System (RTN) : Under the contract, issued by the U.S. Army Aviation and Missile Command, Redstone Arsenal, Ala., RTN will provide software development, systems analysis, testing and logistics support, and other country-specific system requirements.

8:00 am Alaska Air provides March operational results (ALK) : Co reports March and YTD operational results for its subsidiaries (Alaska Airlines and Horizon Air). On a combined basis, March revenue passengers rose 11.1% YoY 2.71 mln. Revenue passenger miles RPM rose 11.2% YoY to 2.9 mln. Available seat miles rose 12.4% YoY to 3.365 mln.

8:00 am Baxter and Laboratoire Aguettant announce global collaboration for parenteral nutrition trace elements (BAX) :

• Co and Laboratoire Aguettant SAS, Lyon, France, announced they have signed an exclusive global licensing and distribution agreement for trace elements, which are essential micronutrients used in parenteral nutrition therapy. 
• The collaboration allows Baxter to augment its PN portfolio, currently available in more than 90 countries, with essential trace elements.
  

8:00 am Cleveland Biolabs announces new US composition of matter patent for CBLB612 (CBLI) : Co announces the allowance of a US patent application, to issue as US Patent No. 9,006,183, covering composition of matter for CBLB612, an investigational drug in development for mobilization of hematopoietic stem cells (HSCs) and for the prevention of chemotherapy-induced myelosuppression. This new patent adds to the company's portfolio of 3 issued or allowed US patents covering CBLB612 and related agents.

7:59 am FXCM announces it has repaid an additional $54 mln outstanding under credit agreement with Leucadia (LUK); avoids contingent financing fee of $30 mln (FXCM) :

• The payment was funded in part with proceeds from the sale of FXCM Japan and the co has now repaid $66 million under the credit agreement.
• FXCM anticipates making an additional repayment of approximately $12 million towards the credit facility in the coming weeks.
  

7:56 am S&P futures vs fair value: -2.60. Nasdaq futures vs fair value: +2.70. (:WRAPX) : U.S. equity futures trade modestly lower amid mixed action overseas. The S&P 500 futures have spent the entire night in the red and they currently hover three points below fair value.

Equity futures have not been able to draw support from modest dollar weakness that has the Dollar Index (97.83, -0.36) trading lower by 0.4%.

The recently-released Challenger Job Cuts report pointed to a 6.4% year-over-year increase in March.

Weekly Initial Claims (Briefing.com consensus 285K) and the February Trade Balance report (consensus -$42.00 billion) will cross the wires at 8:30 ET and the day's data will be topped off with the Factory Orders report for February (consensus -0.5%).

Treasuries have built on yesterday's gains with the 10-yr yield lower by a basis point at 1.85%.

In U.S. corporate news of note:

• Carmax (KMX 70.75, +2.36): +3.5% after beating earnings estimates. 
• Micron (MU 27.00, -0.13): -0.5% after reporting a bottom-line beat and issuing below-consensus revenue guidance. 
• Procter & Gamble (PG 81.94, -0.38): -0.5% after BMO Capital downgraded the stock to 'Market Perform.' 

Reviewing overnight developments:

• Asian markets ended higher. China's Shanghai Composite +0.4%, Hong Kong's Hang Seng +0.8%, and Japan's Nikkei +1.5% 
  • In economic data: 
    • Hong Kong's Manufacturing PMI fell to 49.6 from 50.7 
    • India's HSBC Markit Manufacturing PMI rose to 52.1 from 51.2 (expected 51.0) 
    • South Korea's Current Account surplus narrowed to KRW6.44 billion from KRW6.58 billion 
    • Australia's Trade Deficit widened to AUD1.26 billion from AUD1.00 billion (expected deficit of AUD1.30 billion) while March MI Inflation Gauge ticked up 0.4% month-over-month (prior 0.0%) 
  • In news: 
    • Hong Kong's PMI fell into contraction, fueled by a decline in the employment component

• Major European indices trade near their flat lines. Germany's DAX -0.1%, UK's FTSE -0.1%, and France's CAC +0.1%. Elsewhere, Italy's MIB -0.2% and Spain's IBEX +0.2% 
  • Economic data was limited: 
    • UK's Construction PMI fell to 57.8 from 60.1 (expected 59.5) 
    • Italy's Q4 Public Deficit came in at 2.3% (prior 3.0%) 
  • Among news of note: 
    • European Central Bank member Sabine Lautenschlager voiced concerns over the QE program, saying low interest rates can lead to asset price bubbles among other assets

7:55 am Huron Consulting Group announces amendments to its senior secured credit facility (HURN) : The amended and restated credit facility: Eliminates the term loan, and increases the revolving line of credit from $247.5 million to $500 million. It Increases the maximum permitted consolidated leverage ratio throughout the term and extends the maturity date from September 25, 2018 to March 31, 2020 and  owers the interest rate spread by 25 to 50 bp on pricing tiers for consolidated leverage ratios above 1

7:48 am AerCap has amended and extended its $1.1 bln term loan facility originally put in place by ILFC in March 2011 (AER) : The margin was reduced by 75bps and the maturity of the term loan was extended by three years from March 2018 to March 2021.

7:38 am Perry Ellis reports Q4 EPS above lowered expectations, rev in-line with preannouncement; reaffirms FY16 guidance (PERY) : Reports Q4 adj. EPS $0.07 vs. $0.03 consensus -- co guided EPS $0.01-0.04 vs. $0.43 consensus on Feb 17; rev $218 mln, in-line with Feb 17 preanouncement (consensus was $242 mln).

• Co reaffirms FY16 EBITDA and rev guidance; sees EPS $1.25-1.35 vs. $1.24 consensus; reaffirms rev $925-935 mln vs. $932 mln consensus. 
• Strategy:
• Ongoing strategic review of the Company's portfolio of brands as it exits underperforming, low growth brands and businesses. 
• Driving international and licensing growth through direct investment in North America and Europe as well as strategic partnerships with licensees and other partners.
• Expanding the Direct-to-Consumer channel

7:31 am ChinaNet Online announces strategic alliance with Gridsum Technology to develop an O2O internet and mobile SEM and SEO solution (CNET) : The exclusive strategic alliance represents the collaboration between ChinaNet and Gridsum in 5 areas for serving SMEs.

• the mutual development of search engine optimizing and analytical tools and products for SMEs
• establishing an internet and mobile development O2O solution
• provision of service and the architecture of a new value added service through Baidu Branding Zone and Baidu Forum 
• a 360 search engine marketing service and extended value added service 
• potential joint funding of an internet and mobile marketing and advertising technology research centre for SMEs in China. 

In addition, the two companies will also collaborate on using ChinaNet's cost per lead and cost per sales technologies to serve Gridsum's clientele

7:31 am BB&T Corp subsidiary CRC Insurance Services announces the acquisition of strategic assets from Napco; terms not disclosed (BBT) : Napco is a leading independent wholesale broker of commercial property catastrophe insurance coverage.

7:31 am Columbia Labs to become Juniper Pharmaceuticals (CBRX) : Co announced that it will adopt Juniper Pharmaceuticals, Inc. as its new corporate brand. The name change will become effective Friday, April 10, 2015, and the Company's common stock will begin trading on the Nasdaq Stock Exchange under the new ticker symbol - "JNP" - on Monday, April 13, 2015. The Company's wholly owned subsidiary, Molecular Profiles Ltd. based in Nottingham, England, will also begin operating as Juniper Pharma Services on April 13, 2015

7:30 am Coronado Biosciences forms new subsidiary, DiaVax Biosciences, to develop novel immunotherapies for Cytomegalovirus; DiaVax secures rights to two clinical-stage program (CNDO) : The licensed immunotherapies were developed in the laboratory of Don J. Diamond, Ph.D., Chair of the Department of Experimental Therapeutics at City of Hope National Medical Center in Duarte, California. Dr. Diamond will chair the Scientific Advisory Board of DiaVax. Under the agreement with City of Hope, DiaVax secured worldwide rights to two T-cell immunotherapeutic vaccines for controlling CMV in allogeneic hematopoietic stem cell transplant (:HSCT) and solid organ transplant (:SOT) recipients.

• Known as Triplex and PepVax, the programs are expected to enter Phase II clinical studies later this year and are supported by grants from the National Cancer Institute. In connection with the licensing of Triplex and PepVax, DiaVax further entered into an option agreement with City of Hope for exclusive worldwide rights to Pentamer, a universal immunotherapeutic vaccine being developed for the prevention of CMV transmission in utero. If DiaVax exercises its option, and successfully develops and commercializes PepVax, Triplex and Pentamer, City of Hope could receive in excess of $100MM in upfront, milestone and other payments.
  

7:30 am Primoris Services announces underground awards valued at $218 mln; will be included in the first quarter backlog calculation (PRIM) : The contracts were secured by Rockford Corporation, part of the West Construction Services segment.

7:30 am Solar Power announces the acquisition of 'Aerojet' solar projects; terms not disclosed (SOPW) : Co announced that it has entered into a definitive agreement to acquire 100% of the interest in the 6.02 MW solar projects known as "Aerojet" in Rancho Cordova, California

7:30 am Sealed Air has completed the sale of its North American foam trays and absorbent pads business to NOVIPAX; terms not disclosed (SEE) : In 2014, Sealed Air's North American foam tray and absorbent pads businesses generated approximately $214 million in sales to the Company's Food Care division.

7:30 am WTI crude oil prices are getting whacked this morning; May crude just hit a new LoD at $48.38/barrel and is now -3.3% at $48.44/barrel... looking for headlines (:COMDX) :  

7:28 am CarMax beats by $0.05, rev in-line (KMX) : Reports Q4 adj. EPS $0.65 (ex-$0.02 capitalized interest expense gain) vs. $0.60 Capital IQ consensus; rev +14% to $3.51 bln vs. $3.50 bln consensus.

• Used unit sales in comparable stores increased 7.0% in the fourth quarter and 4.4% in the fiscal year. 
• Total used unit sales rose 12.4% in the fourth quarter and 10.5% in the fiscal year.
  

7:07 am Lumber Liquidators reports Q1 sales $260 mln vs. $256.8 mln consensus; notes March was significantly weaker than trends in Jan and Feb due to allegations; March comps -17.8% (LL) :

• LL reports Q1 sales $260 mln vs. $256.8 mln consensus; +5.6% YoY; Q1 comparable store sales -1.8%
• March sales were $89.4 mln, -12.8% vs. March 2014; March comparable store sales -17.8%
  
• Consistent with company's expectations, net sales in March 2015 were significantly weaker than trends in January and February, as net sales were negatively impacted by unfavorable allegations surrounding the product quality of the Company's laminates sourced from China.
  
• The company's sales mix shifted when comparing the month of March to the first two months of 2015. Total laminate net sales, which were 21.2% of net sales through February 2015, fell 480 basis points to 16.4% in the month of March 2015, primarily due to a decrease in the sales mix of laminates sourced from China.
  

7:05 am Hershey Foods elected John Bilbrey as Chairman of the Board of Directors (HSY) : Bilbrey will continue to be President and Chief Executive Officer of the global confectionery company, a role he has held since May 2011. Bilbrey succeeds Chairman James E. Nevels who held the position since February 2009 and will now assume the role of Lead Independent Director.

7:03 am Omeros announces the nationwide commercial availability of Omidria (phenylephrine and ketorolac injection) 1%/0.3% (OMER) : Omidria is the first and only product approved by the U.S. Food and Drug Administration (:FDA) for intraocular administration during cataract surgery and other intraocular lens (:IOL) replacement procedures to prevent intraoperative miosis (pupil constriction) and to reduce postoperative ocular pain, providing consistent and predictable management of these problems for ophthalmic surgeons and their patients. CMS has set the reimbursement rate for Omidria under Medicare Part B at the product's wholesale acquisition cost of $465 plus six percent per single-use vial for the second and third quarters of 2015 after which the rate will be based on average selling price plus six percent.

7:02 am Alere announces receipt of FDA marketing clearance for its Alere i Strep A Rapid Molecular test (ALR) : Upon receipt of this clearance from the FDA, Alere submitted an application for CLIA waiver of the Alere i Strep A test

7:02 am Cliffs Natural Resources names Kelly Tompkins new CFO (CLF) :

• Co announced that it has named its current Executive Vice President of Business Development, Kelly Tompkins as the Company's new Executive Vice President & Chief Financial Officer effective April 1, 2015. Tompkins will replace Terrance Paradie, who announced his resignation to pursue an opportunity with another company. 
• Simultaneously with Tompkins's appointment as CFO, the Company's current Executive Vice President, Seaborne Iron Ore, Clifford Smith has been named Executive Vice President, Business Development. The position previously occupied by Smith has been eliminated.
  
• Prior to Smith's new appointment, he held the role of Executive Vice President, Seaborne Iron Ore.
  

7:02 am Mechel Steel announces extension until February 2016 of credit line to $30 mln (MTL) : According to the agreement, the outstanding debt will be converted into Russian rubles, pledges remain unchanged.

7:02 am Raptor Pharma priced 9.5 mln shares of its common stock at $9.00 per share (RPTP) :  

7:01 am Schneider Electric: Court orders Schneider Electric to pay Server Technology 15% royalty on future sales of infringing PDUs (SBGSY) : This order of the Court follows the May 29, 2014 jury verdict that awarded Server Technology damages totaling $10,787,634 for patent infringement by American Power Conversion Corporation for pre-trial sales of infringing products by APC.

7:01 am Roche Hldg's Ariosa's Harmony Prenatal Test shown to be superior to conventional pregnancy screening for Down syndrome (Trisomy 21) in largest clinical trial (RHHBY) : The co announced that results from the largest clinical trial to date, comparing non-invasive prenatal testing (:NIPT) using the Harmony Prenatal Test with conventional first trimester combined screening in a general pregnancy population1 have been published online in The New England Journal of Medicine. The NEXT (Non-Invasive Examination of Trisomy) Study demonstrates statistically significant superiority of the Harmony Prenatal Test over FTS for accurately assessing the risk of Trisomy 21 which causes Down syndrome. The study, comprised of more than 18,500 expectant mothers, was sponsored by Ariosa Diagnostics, Inc.. Ariosa was acquired by Roche in January 2015. 

• The study was statistically designed for both sensitivity and specificity, with all patients receiving both NIPT and FTS in a blinded fashion. Each subject was followed through pregnancy and newborn outcomes were obtained. The Harmony test's false positive rate at 0.06% was more than 90 times lower than the FTS false positive rate of 5.4%. The Harmony test correctly identified 100% of Trisomy 21 cases compared to 79% with FTS. In a sub-analysis of over 11,000 low risk only pregnancies (maternal age

7:01 am Akers Biosciences has signed an exclusive Master Distributor Agreement with ADS Inc. for the marketing and supply of Akers' rapid diagnostic assays to U.S. Government agencies and departments (AKER) : The Agreement, which has an initial term of eighteen months, spans the entirety of Akers' product catalog but will focus initially on marketing the Company's rapid test for Heparin-Induced Thrombocytopenia; the Company's rapid, light-weight test for determining blood type compatibility in remote locations; and the Company's range of rapid tests for infectious diseases including Malaria and Dengue Fever.

7:01 am Hercules Offshore signed a five-year contract with a subsidiary of Eni S.p.A. (E) for use of the Hercules 260 in West Africa (HERO) : The dayrate under the contract will range from a minimum of $75,000 per day when the price of Brent crude oil is $86 or less per barrel, to a maximum of $125,000 per day when the price of Brent crude oil is $125 or more per barrel. Contract commencement is expected in early April 2015. Costs for contract specific upgrades will be reimbursed by the operator.

7:00 am GTX provides update regarding the initiatives being taken to address the Company's continued listing on The NASDAQ Capital Market (GTXI) : On April 1, 2015, the Company was afforded an additional 180-day grace period, through September 28, 2015, to comply with the minimum $1.00 bid price requirement, by which date the Company's common stock must trade above $1.00 for at least ten consecutive business days. The Company has also provided written notice to NASDAQ of its intention to cure the minimum bid price deficiency during the additional 180-day grace period by effecting a reverse stock split, if necessary.

7:00 am Medivation announced topline results from the Phase 2 STRIVE trial comparing enzalutamide with bicalutamide (MDVN) : The study achieved its primary endpoint demonstrating a statistically significant increase in progression-free survival (PFS) for enzalutamide compared with bicalutamide. Median PFS was 19.4 months in the enzalutamide group compared with 5.7 months in the bicalutamide group.

• Serious adverse events were reported in 29.4% of enzalutamide-treated patients and 28.3% of bicalutamide-treated patients. Grade 3 or higher cardiac adverse events were reported in 5.1% of enzalutamide-treated patients versus 4.0% of bicalutamide-treated patients. One seizure was reported in the trial in the enzalutamide-treated group and none in the bicalutamide-treated group. 
• The most common side effects noted more frequently in the enzalutamide-treated versus bicalutamide-treated patients included fatigue, back pain, hot flush, fall, hypertension, dizziness, and decreased appetite
  

6:59 am AutoNation announces that it reported to automotive manufacturers, based on their respective sales transaction reporting standards, retail sales of 77,242 new vehicles in the first quarter of 2015, an increase of 10% as compared to the first quarter of 2014 (AN) : On a same-store basis, reported retail new vehicle unit sales in the first quarter of 2015 were up 8% as compared to the first quarter of 2014. Reported retail new vehicle unit sales in March 2015 were 30,107, an increase of 5% as compared to March 2014. On a same-store basis, reported retail new vehicle unit sales in March 2015 were up 3% as compared to March 2014.

6:32 am Sequential Brands has signed a definitive agreement to acquire a majority interest in the Jessica Simpson brand; terms not disclosed (SQBG) : Annual retail sales for the brand are approximately $1 Billion. Concurrently with the closing, Camuto Group's master license for the Jessica Simpson Collection will be replaced with a newly signed long-term license agreement to manufacture and distribute footwear.

• Post-closing, the Company is projecting forward 12-month royalty revenues of $88-90 million and $53.5-55 million of Adjusted EBITDA from the Company's total brand portfolio.  Further guidance related to the fiscal year 2015 will be provided upon closing of the acquisition.
  
• The acquisition is expected to close within 90 days and is expected to be immediately accretive. 

6:31 am SAGE Therapeutics announces positive end-of-Phase 2 meeting with FDA and planned initiation of SAGE-547 global Phase 3 trial (SAGE) : At a recent End-of-Phase 2 meeting with the U.S. FDA, there was general agreement on the design and key elements of a Phase 3 clinical program for SAGE-547. Co believes the results from the planned Phase 3 clinical trial, together with other clinical data obtained from the SAGE-547 development program, could form the basis of a New Drug Application submission for SAGE-547.

• Based on data from the ongoing Phase 1/2 clinical trial, the planned Phase 3 clinical trial is designed to provide 90 percent statistical power. SAGE plans to begin enrollment of the Phase 3 clinical trial mid-year 
• The planned primary endpoint of the Phase 3 clinical trial will be successful resolution of status epilepticus after weaning the patient off all third-line anti-seizure agents, and SAGE-547 or placebo, without resumption of SE within 24 hours after completion of blinded SAGE-547 or placebo administration. 
• Secondary endpoints are expected to explore the rate of recovery, regaining of consciousness, mental status and functional outcome
  

6:24 am Fortum Oyj announced the appointment of Pekka Lundmark as CEO, to take effect in September 2015 (FOJCY) : Lundmark will transfer from Konecranes Plc, where he has been President and CEO for the past ten years

6:07 am Renren announces ADR dutch auction tender offer of up to $50 mln, at a price between $2.40-2.75/share (RENN) :  

6:04 am RCS Capital announces that its wholesale broker-dealer subsidiaries raised ~$476.3 mln of total equity capital in the month of March, an increase of 45.7% from the $326.8 mln raised in February 2015 (RCAP) : Total equity raised during the first quarter of 2015 was $1.1 billion.

6:02 am U.S. Concrete has completed the acquisition of all of the issued and outstanding equity interests of Ferrara Bros. Building Materials (USCR) : This acquisition will significantly expand U.S. Concrete's footprint in the New York metropolitan market and will allow the company to more effectively serve construction projects in Manhattan.

• The co disclosed that the consideration for the purchase consisted of a cash payment of ~$45 million and the issuance of the number of shares of its common stock equal to $15 million.
  

5:53 am European Markets : FTSE...6812.05...+2.60...+0.00%.  DAX...11992.19...-9.20...-0.10%.

5:53 am Asian Markets : Nikkei...19312.79...+278.00...+1.50%.  Hang Seng...25275.64...+192.90...+0.80%.

5:52 am S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -9.30. :

5:47 am Elbit Medical Imaging announces the appointment of its Chief Financial Officer Doron Mosh, as Acting CEO (EMITF) : Mr. Moshe will replace Mr. Ron Hadassi, who will continue to serve as the Company's Chairman of the Board. This appointment is effective as of April 1, 2015.

5:11 am On The Wires (:WIRES) :

• Ahold (AHONY) announced that Jan Hommen will resume his role as Chairman of the Supervisory Board with immediate effect after temporarily stepping down as Chairman on June 14, 2014. Upon resuming his role as Chairman of the Supervisory Board, Jan Hommen will chair the upcoming 2015 Annual General Meeting of Shareholders on April 15.
• Amazon.com (AMZN) announced that Prime Now has expanded to Atlanta. The ultra-fast service, offered exclusively as a benefit to Prime members, provides one-hour delivery on tens of thousands of daily essentials through a mobile app.
• Honeywell (HON) Transportation Systems is providing its industry leading variable-geometry, diesel turbocharger technology to Volkswagen (VLKAY) for its new 1.5L TDI diesel engine designed and developed in India to meet the unique needs of the local automotive market in the newest versions of Volkswagen and SKODA.

3:55 am On The Wires (:WIRES) :

• Gra a y Montero S.A.A. (GRAM) announced that its subsidiary GMP S.A. has subscribed with PERUPETRO S.A. the public deed which contains the License Contract for Exploitation of Hydrocarbons in Blocks III and IV, located in the Talara basin, in the region of Piura for a period of 30 years. 
• TomTom (TMOAY) announced the acquisition of Location Navigation including the WhereIs map assets of Australia from Sensis. TomTom will acquire all business activities of Location Navigation including its mapping IP and customer database.

1:59 am On The Wires (:WIRES) :

• Bluerock Residential Growth REIT (BRG) announced that it has acquired through a joint venture a 288-unit Class A apartment community in Austin, Texas known as the Fox Hill Apartments. The Company made an equity investment of $10.16 million to acquire an aggregate 85.3% indirect interest in the joint venture, which acquired Fox Hill for a purchase price of $38.15 million. 
• Ciber (CBR) announced that its Board of Directors has adopted a plan to enhance the overall composition of the Board by seeking to add three new independent directors. The Board is actively recruiting new candidates and has engaged a leading executive search firm to help identify strong nominees.