7:02 pm Celanese announces intermediate chemistry price increases (CE) : This increase will be incremental to any previous increases that were announced but not implemented and will be effective immediately, or as contracts allow.

• Product: Vinyl Acetate Monomer; Asia outside China: $60 USD/MT

6:58 pm Southside Banc declares 5% stock dividend (SBSI) : Co declared a 5% common stock dividend payable to common stock shareholders of record April 27, 2015. The stock dividend is scheduled for payment on May 14, 2015.

6:42 pm Otter Tail Power: Chuck MacFarlane elected CEO and President (OTTR) : Shareholders elected Chuck MacFarlane to the board of directors for a three-year term. He replaces Jim McInytre, who retired both as a member of the board of directors and as CEO. MacFarlane has been Otter Tail Corporation's president and chief operating officer since April 2014. At a meeting of the board of directors that followed the annual meeting of shareholders, MacFarlane was elected chief executive officer and president of Otter Tail Corporation, succeeding McIntyre.

6:39 pm Charter Comm prices $1.9 bln senior unsecured notes (CHTR) : Co announced that its subsidiaries, CCO Holdings, LLC and CCO Holdings Capital Corp., has priced $1.9 billion in aggregate principal amount of senior unsecured notes due 2023 and 2025. The 2023 Notes will bear an interest rate of 5.125% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $1,150 million. The 2025 Notes will bear an interest rate of 5.375% per annum and will be issued at a price of 100.0% of the aggregate principal amount of $750 million.

6:38 pm McEwen Mining: Chief Owner Rob McEwen states co has not had any regular contact with cartel members (MUX) : Rob McEwen, Chief Owner, McEwen Mining, said, "Responding to numerous media reports, I want to make it perfectly clear, that neither I nor any member of McEwen Mining's management team in Canada or in Mexico have had any regular contact with, or have any relationship with, cartel members. On Thursday April 9, 2015 at 11:40 am EST I was interviewed on television by Andrew Bell of Business News Network about the recent gold theft from our El Gallo mine. During the interview, I was asked: 'Is it a dangerous part of Mexico (at our mine site)?' I answered: 'It hasn't been. I mean the cartels are active down there. Generally we have a good relationship with them.'  My answer was related to gaining access to properties we wish to explore. It is our policy to contact all property owners or impacted community members in an area to seek their permission and ascertain the appropriate timing to enter their properties to conduct mineral exploration. We respect their wishes as any good neighbor and responsible miner would."

6:34 pm Terra Nitrogen announces completion of planned turnaround of an ammonia and UAN plant representing ~ one-half of the production capacity at its Verdigris, Oklahoma, nitrogen complex (TNH) : The turnaround of the ammonia plant took approximately nine weeks, and the turnaround of the UAN plant took approximately eleven weeks. The turnaround work included upgrade projects to improve the production capacity and efficiency of the units.

6:33 pm Quantum and Dot Hill Systems (HILL) announce a new, global go-to-market partnership (QTM) : Co and Dot Hill Systems (HILL) announced a new, global go-to-market partnership whereby Quantum will integrate Dot Hill's full line of enterprise-class disk storage systems into its tiered storage offerings. By adding all of Dot Hill's storage arrays to its scale-out storage and data protection portfolio, Quantum will further expand its range of solutions designed for managing data across its entire lifecycle in demanding environments. At the same time, Dot Hill will extend its market footprint by leveraging Quantum's channel, sales and marketing resources, and global service and support.

6:31 pm Vanda Pharma announces February 29, 2016 trial date for two pending cases against Roxane Laboratories regarding Roxane's submission of an ANDA for Fanapt (VNDA) : Co announced a February 29, 2016 trial date for two pending cases against Roxane Laboratories Inc. regarding Roxane's submission of an Abbreviated New Drug Application ("ANDA") to obtain approval to make and sell generic Fanapt (iloperidone oral tablets). The two cases, C.A. No. 14-757 (D. Del.) and C.A. No. 13-1973 (D. Del.), have been consolidated by agreement of the parties and are scheduled to be tried together in a four-day bench trial beginning on February 29, 2016. In C.A. No. 14-757-GMS, Vanda is asserting U.S. Patent No. 8,586,610 ('610 patent), covering methods of treating schizophrenia by administering Fanapt to certain patients, while in C.A. No. 13-1973-GMS, Vanda is asserting the U.S. composition of matter patent for Fanapt, U.S. Patent No. RE39,198 (the RE'198 patent). Both patents are listed in the U.S. Food and Drug Administration publication Approved Drug Products With Therapeutic Equivalence Evaluations, commonly known as the Orange Book. The '610 patent expires November 2027 and the RE'198 patent expires November 2016.

6:24 pm Triangle Petroleum beats by $0.01, beats on revs (TPLM) : Reports Q4 (Jan) earnings of $0.06 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.05; revenues rose 83.6% year/year to $156.99 mln vs the $154.27 mln consensus.

• Increased Q4 2015 volumes to 1,357 Mboe (+103% y/y) from 667 Mboe in Q4 2014. Q4 2015 average daily volumes were 14,747 Boepd as compared to 7,249 Boepd in Q4 2014

5:16 pm Zillow to host conference call on April 14, 2015 to discuss Trulia integration progress and 2015 pro forma outlook (Z) : Co announced it will host a conference call Tuesday, April 14 at 6 a.m. Pacific Time/9 a.m. Eastern Time to discuss an operational progress report related to the company's acquisition of Trulia, which closed on February 17, 2015. As part of the call, the company plans to discuss its preliminary full-year pro forma outlook for 2015.

• "In less than two months since we completed the Trulia acquisition, we are making great strides in integrating our operations and cultures, which sets the stage for future growth as one company with multiple brands," said Spencer Rascoff, CEO of Zillow Group. "We're committed to ensuring our employees, partners and shareholders are frequently updated on our integration progress and expectations as we look ahead."
  

5:14 pm Avon Products postpones its investor day to Fall 2015 (AVP) : Co announced that it has decided to postpone to Fall 2015 its Investor Day that the Company was originally scheduled to host on May 13, 2015. The decision to postpone the meeting follows the recent appointment of James S. Scully as the Company's Chief Financial Officer, to allow the Company adequate time to prepare for a more robust discussion at the meeting. Further details, including webcast information, will be announced closer to the event. Avon will provide an update on its turnaround progress when it reports first-quarter 2015 financial results on April 30, 2015.

5:12 pm Zimmer Hldgs announces extension of outside date for the pending Biomet merger (ZMH) : Co announced today that the "outside date" for completing the proposed merger pursuant to the Agreement and Plan of Merger, dated April 24, 2014, among Zimmer, Owl Merger Sub, Inc. and LVB Acquisition, Inc., the parent company of Biomet, has been extended from April 24, 2015 to July 23, 2015. The terms of the Merger Agreement allowed either party to extend the outside date for an additional 90 calendar days if necessary regulatory clearances under the applicable antitrust laws of certain jurisdictions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, have not been obtained. The transaction remains subject to clearance by the U.S. Federal Trade Commission (the "FTC"), as well as other customary closing conditions. Zimmer continues to work closely with the FTC and expects to receive clearance for the proposed transaction from the FTC by the end of April or shortly thereafter.

5:11 pm IBM to acquire Phytel, a provider of integrated population health management software; IBM also announces acquisition of Explorys, a healthcare intelligence cloud company (IBM) : Co announced plans to acquire Phytel, a leading provider of integrated population health management software. The acquisition once completed will bolster the company's efforts to apply advanced analytics and cognitive computing to help primary care providers, large hospital systems and physician networks improve healthcare quality and effect healthier patient outcomes. Phytel will become part of IBM's new Watson Health unit, launched today.

Co also announced plans to acquire Explorys, a healthcare intelligence cloud company that has built one of the largest clinical data sets in the world, representing more than 50 million lives. Explorys provides secure cloud-based solutions for clinical integration, at-risk population management, cost of care measurement, and pay-for-performance.

5:06 pm IBM and Apple (AAPL) expand partnership in field of medical research; IBM also announced partnership with Medtronic (MDT) (IBM) : Co announced its Health Cloud and Watson cognitive computing capabilities will support health data entered by customers in iOS apps using Apple's (AAPL) ResearchKit and HealthKit frameworks. "The move, which complements IBM's new Watson Health business unit, will arm medical researchers with a secure, open data storage solution, as well as access to IBM's most sophisticated data analytics capabilities."

Co also announced it and Medtronic (MDT) will work together to combine powerful analytics and cognitive computing with diabetes medical devices and health data to develop a new generation of personalized diabetes management solutions. People using Medtronic diabetes solutions could benefit from new solutions developed in collaboration with IBM's newly-formed Watson Health unit.

5:05 pm General Motors increases quarterly dividend 20% to $0.36 from $0.30 per share (GM) :  

5:04 pm Bank of the Ozarks beats by $0.05 (OZRK) : Reports Q1 (Mar) GAAP earnings of $0.47 per share, $0.05 better than the Capital IQ Consensus Estimate of $0.42.

• The Company's returns on average assets, average common stockholders' equity and average tangible common stockholders' equity for the first quarter of 2015 were 2.13%, 15.41% and 17.65%, respectively, compared to 2.12%, 15.96% and 16.45%, respectively, for the first quarter of 2014.
  
• Non-purchased loans and leases were $4.31 billion at March 31, 2015, a 55.2% increase from $2.78 billion at March 31, 2014 and an 8.3% increase from $3.98 billion at December 31, 2014. Including purchased loans, total loans and leases were $6.35 billion at March 31, 2015, a 77.9% increase from $3.57 billion at March 31, 2014 and a 23.9% increase from $5.13 billion at December 31, 2014.
  
• The unfunded balance of closed loans increased to $3.41 billion at March 31, 2015, compared to $1.42 billion at March 31, 2014 and $2.96 billion at December 31, 2014.
  
• Book value per common share was $13.59 at March 31, 2015, a 52.7% increase from $8.90 at March 31, 2014 and a 19.5% increase from $11.37 at December 31, 2014.
  

4:49 pm Teekay Offshore announces pricing of public offering of 5 mln of 8.5%Series B Cumulative Redeemable Preferred Units at $25 per unit (TOO) :  

4:31 pm MiMedx Group announces 1Q15 metrics regarding the expansion of its health plan coverage (MDXG) : Coverage highlights included: 53 million covered individuals added from 27 new plans during the quarter, 10 Blue Cross/Blue Shield plans encompassing 20 states added during the quarter and  Commercial covered individuals grew to approximately 150 million during the quarter. 

4:30 pm Unwired Planet announces Boris Teksler will join the company as CEO, effective June 1, 2015 (UPIP) : Teksler is currently senior executive vice president and president of the Technology Business Group at Technicolor (TCLRY). Prior to that, Teksler was head of Apple (AAPL) Patent Licensing & Strategy.

4:29 pm SAGE Therapeutics announces a proposed $100 mln public offering of common stock (SAGE) :  

4:21 pm MiMedx Group guides Q1 rev in-line; reaffirms FY15 guidance (MDXG) : Co issues in-line guidance for Q1 (Mar), sees Q1 (Mar) revs of $40.8 mln vs. $41.07 mln Capital IQ Consensus.

•  "During Q1, our sales team continued to grow our footprint by adding over 300 new customers; however, there were some very difficult weather challenges for a large part of the country... In addition, the January 1, 2015 pricing changes, reimbursement changes, and new product introductions with EpiFix caused certain slowing of orders in a similar manner as occurred during the first quarter of 2014. As with last year, we believe those factors will be relegated to the first quarter and should not impact orders in the other quarters of 2015. Had it not bee for these factors, we would have nicely exceeded our first quarter guidance range."

Co reaffirms guidance for FY15 (Dec), sees FY15 (Dec) revs of $175-190 mln vs. $186.23 mln Capital IQ Consensus Estimate.

• The Company plans to issue its second quarter of 2015 revenue guidance when it releases its first quarter of 2015 financial results on April 28, 2015.

4:18 pm Paragon Offshore releases latest fleet status report (PGN) : Paragon Offshore release

4:17 pm Pebblebrook Hotel Trust announces completion of a new 7-year, $100 mln term loan (PEB) : The term loan matures in April 2022. The interest rate on the unsecured term loan is based on a pricing grid with a range of 170 to 255 basis points over LIBOR, determined by the Company's leverage ratio. The term loan also includes an accordion option that allows the Company to request additional lender commitments up to a total of $200 million

4:16 pm Arctic Cat names Greg Williamson as first-ever chief marketing officer (ACAT) : The roles of chief marketing officer and vice president of North America sales have been created at a time when Arctic Cat is positioning itself for future growth and an increased focus on customer engagement to drive sales.

4:16 pm PCM disclosed entrance into a fourth amendment to its third amended and restated loan and security agreement (PCMI) : The Fourth Amendment provides for, among other things: an increase in the Maximum Credit, as defined in the Fourth Amendment, from $200,000,000 to $250,000,000, a Maturity Date of September 30, 2018, an accordion feature of $25 million at the option of the Borrowers and satisfaction of certain conditions and interest at LIBOR plus a margin, ranging from 1.50% to 1.75%.

4:16 pm Norfolk Southern sees Q1 EPS of approx $1.00, Capital IQ consensus $1.29; reduction in earnings is primarily due to lower than expected revenues (NSC) :

• Co sees Q1 EPS of $1.00 per share, Capital IQ consensus $1.29. The reduction in earnings is primarily due to lower than expected revenues, although certain expense items also affected the comparison. 
• Revenue decreases reflect reductions in fuel surcharge revenue in each of NS' three commodity groups, continued reductions in coal volumes, and a lower average revenue per unit related to the mix of business. Lower overall expenses were aided by declining fuel expense but hurt by weather and service recovery costs.
• First quarter revenues are expected to be approximately $2.6 billion (Capital IQ consensus $2.68 bln), a 5% decrease compared with the same period last year. Coal shipments continue to experience downward pressure, weighted by a significant decline in export coal volume. 
• First quarter expenses will be approximately $2.0 billion, a decrease of 3% versus 2014. This improvement was led by significantly reduced fuel expenses.
• Following the weather related challenges of the first quarter, volumes are expected to rebound in the second quarter, with the exception of coal, which will continue to be pressured given current market dynamics. 
• In the current energy environment, revenues for the year are expected to be less than revenues for 2014, and the Company continues to focus on improving core pricing as service levels improve. The Company's continuing actions to restore service levels should result in gradual improvement during the second quarter and a return to normalized levels during the third and fourth quarters of the year. 
  

4:16 pm MYR Group announces it has signed an asset purchase agreement to acquire the business of E.S. Boulos Co from a subsidiary of Eversource Energy (ES) (MYRG) : The transaction closed on April 13, 2015 and was valued at ~$11.4 mln. Over the last five years, ESB's annual revenues ranged from $51-86 mln and EBITDA margins ranged from 2.4-5.7%. The acquisition of ESB will further enhance MYR Group's Transmission & Distribution footprint in the northeast region while also establishing a Commercial & Industrial presence in the region.

4:09 pm Lydall announces Robert K. Julian, Executive Vice President and Chief Financial Officer, has resigned his position (LDL) : Julian plans to continue as CFO through May 1, 2015 to facilitate an orderly transition of his responsibilities. Co intends to initiate a search process for the CFO position.

4:09 pm Closing Market Summary: S&P 500 Logs First Decline in Four Sessions (:WRAPX) : The major averages began the new trading week on a lower note. The S&P 500 surrendered 0.5% after spending the day in a steady retreat from its opening high while the Nasdaq Composite shed 0.2% after showing relative strength throughout the day.

All in all, the Monday session was very quiet with the S&P 500 spending the day inside a 15-point range. Investors did not receive any noteworthy data or earnings, but that will change as the week wears on.

Today, however, the S&P 500 appeared to be on track for its fourth consecutive advance, but the index hit resistance during the opening hour and retreated into the afternoon. A handful of heavily-weighted sectors displayed early strength, but the financial sector (+0.3%) was the only group left in the green when the session ended.

Elsewhere, the top-weighted technology sector (-0.3%) ended ahead of the broader market, but could not avoid turning negative. Large cap names like Apple (AAPL 126.85, -0.25), Google (GOOGL 548.64, +0.10), and Microsoft (MSFT 41.76, +0.04) held up well while chipmakers struggled with the PHLX Semiconductor Index losing 0.6%.

Still, the relative strength in the technology sector helped the Nasdaq spend the day ahead of the S&P 500. The index also drew support from biotechnology with the iShares Nasdaq Biotechnology ETF (IBB 358.32, +0.88) adding 0.2%. The biotech ETF registered its sixth consecutive gain after being up more than 1.0% in the early going. Conversely, the health care sector (-0.6%) ended among the laggards despite showing relative strength early.

Similar to health care, two other countercyclical sectors-consumer staples (-0.5%) and utilities (-1.0%)-underperformed while telecom services shed 0.2%.

Moving back to the cyclical side, the energy sector contributed to the early strength, but reversed to end lower by 0.8% even as crude oil settled higher by 0.5% at $51.91/bbl after testing the $53.00/bbl level.

Also of note, industrials (-1.1%) settled behind the remaining nine sectors as General Electric (GE 27.63, -0.88) weighed. The largest sector component fell 3.1% after spiking 10.8% on Friday.

Treasuries registered modest gains after climbing off their overnight lows. The 10-yr note ended on its high with the benchmark yield down two basis points at 1.93%.

Today's participation matched recent averages with more than 650 million shares changing hands at the NYSE floor.

Economic data was limited to the Treasury Budget statement for March, which showed a deficit of $53.00 billion (Briefing.com consensus -$44.00 billion). The Treasury data are not seasonally adjusted, so the March deficit cannot be compared to the $36.90 billion deficit recorded in February.

Tomorrow, the March Retail Sales report (Briefing.com consensus 1.0%) and March PPI (consensus 0.2%) will be released at 8:30 ET while February Business Inventories (consensus 0.3%) will be reported at 10:00 ET.

• Nasdaq Composite +5.3% YTD 
• Russell 2000 +5.1% YTD 
• S&P 500 +1.6% YTD 
• Dow Jones Industrial Average +0.9% YTD

4:09 pm Performance Sports beats by $0.03, beats on revs; Hockey revenues are a slap shot (up 9% to a record $53.9 mln) (PSG) : Reports Q3 (Feb) earnings of $0.13 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 121.4% year/year to $137.7 mln vs the $134.91 mln consensus.

• The increase in revenue was primarily due to the addition of revenues generated by EASTON and solid growth in ice hockey equipment, partially offset by an unfavorable impact from foreign exchange.
• Excluding the results of EASTON, as well as the impact from foreign exchange, revenues grew organically by 16%.
• "We reported another record quarter due to the continued strong performance of EASTON and 16% organic sales growth," said Kevin Davis, president and CEO of Performance Sports Group. "EASTON continued to experience solid demand for its MAKO family of products, including the revolutionary TORQ bat. Our hockey business had its fifth consecutive quarter of double-digit growth, up 16% on a constant currency basis and driven by the successful launch of our VAPOR 1X stick, underscoring our well-defined strategy to grow our stick business -- the largest hockey category. With this launch, our stick category grew 26% in constant currency year-to-date and 92% in Q3.

4:09 pm GW Pharma confirmed AAN released new Epidiolex data; more detailed poster presentation scheduled at AAN Annual Meeting on April 22 (GWPH) : Data in the AAN release are from physician-led FDA authorized Epidiolex "expanded access" programs for children and young adults with treatment-resistant epilepsy that have exhausted available treatment options. The data provide treatment effect information on a total of 137 patients who have at least 12 weeks of Epidiolex exposure. Safety data is provided on 213 patients, representing these 137 patients plus additional patients still in their first 12 weeks of treatment. Additional data will be presented in a poster at the AAN Annual Meeting on April 22 at 6.15pm EDT, at which time GW will make an additional disclosure.

4:07 pm Graham announces Q4 net orders amounted to $47.5 mln, a majority of which came from the U.S. Navy (GHM) : Co announced today that it was awarded $136.5 million of orders during the year that ended March 31, 2015. Fourth quarter net orders amounted to $47.5 million, a majority of which came from the U.S. Navy. The naval order is for the engineering design and manufacture of steam surface condensers and ejector systems. Revenue for the new naval order is expected to be recognized over several years, from fiscal 2018 through fiscal 2022.

4:05 pm Best Buy announces retirement of Board Chairman, Hatim Tyabji, names Hubert Joly as Chairman & CEO effective June 9, 2015 (BBY) : Best Buy President and CEO, Hubert Joly, will succeed Tyabji and take on the additional role of Board chairman. Russell Fradin, President and CEO of SunGard and a Best Buy Board member since April 2013, will serve as Lead Independent Director.

• Fradin assumes the role of Lead Independent Director upon Joly's appointment as Board chairman on June 9, 2015. 
• The company also announced the retirement of directors Sanjay Khosla and Allen Lenzmeier, effective June 9, 2015.
  

4:05 pm Shutterstock announces the appointment of Laurie Harrison as General Counsel and Aditi Javeri Gokhale as Chief Marketing Officer (SSTK) : Prior to joining the company, Harrison was Vice President and Senior Counsel, Corporate Affairs for ACE Group. Aditi is joining the company from Nutrisystem where she was the Senior Vice President & General Manager, Digital.

4:05 pm Invesco announces AUM falls 1.4% m/m (IVZ) : Co announces preliminary month-end AUM of $798.3 bln, a decrease of 1.4% month over month. The decrease was driven by outflows in money market AUM, negative foreign exchange, and unfavorable market returns. FX decreased AUM by $5.3 bln during the month. Net long-term flows were positive. Preliminary average total AUM for the quarter through March 31 were $795.4 bln, and preliminary average active AUM for the quarter through March 31 were $652.8 bln.

4:02 pm Horizon Pharma announces proposed public offering of 12 mln ordinary shares (HZNP) : Co announced that it is offering to sell 12,000,000 of its ordinary shares in an underwritten public offering. Horizon Pharma plc also expects to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the ordinary shares in the public offering. Citigroup, Jefferies LLC, Cowen and Company, LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for this offering.

4:02 pm WCI Communities announces proposed secondary offering of 3.25 mln shares of common stock by selling stockholders (WCIC) : Cp announced that entities affiliated with Monarch Alternative Capital LP  and Stonehill Institutional Partners, L.P. intend to offer 3,250,000 shares of the Company's common stock in a registered public offering. The Company will not sell any shares in this offering or receive any portion of the proceeds from this offering.

4:02 pm Applied Optoelectronics (halted, will esume at 16:30) lowers Q1 sales guidance; sees Q2 sales above consensus (AAOI) : Co lowers Q1 rev to $30.0-30.3 mln from $35-36.5 mln vs $35.56 mln Capital IQ Consensus.

Co guides for Q2 rev over $42 mln vs. $37.6 mln consensus.

"Our first quarter revenue was impacted by continued supply constraints for an externally sourced optical sub-assembly for a 40 Gbps data center transceiver," said Dr. Thompson Lin, Applied Optoelectronics, Inc. (AOI) founder and CEO. "While our supplier did increase production for this sub-assembly in the quarter, they remained behind schedule and delivered only slightly more than 50% of the quantity they committed to earlier in the quarter. "As we said in February, in order to help alleviate supply shortages we have been preparing to ramp internal production of this component. We made good progress on this front in March and are on schedule to begin internal production of this supply constrained component in the second quarter. Demand for 40 Gbps data center transceivers remains very strong, and even though below expectations, Q1 revenue grew 22% compared to the same period last year. Moreover, we exited the quarter with a book to bill of 2.4, giving us a book-to-bill ratio for the past two quarters of over 2.0."

4:01 pm Acorn Energy announces receipt of Nasdaq notice of stockholders' equity deficiency; Company to transfer listing to Nasdaq capital market (ACFN) :

• Co has until July 13, 2015 to come into compliance with this requirement
  

4:00 pm American Caresource Holdings announces the death of Chairman and CEO Richard Turner (ANCI) : Co announced Turner died unexpectedly on April 12, 2015 after a brief illness. The Board of Directors appointed John Pappajohn, a director of the Company, as Chairman of the Board and acting Chief Executive Officer.

3:50 pm Earnings Calendar (:SUMRX) : Today after the close look for the following companies to report:

• PBY, LAYN, TPLM, OZRK

Tomorrow before the open look for the following companies to report:

• JPM, WFC, JNJ, SJR, FAST

3:27 pm Market View: Fresh session lows for SPY & DIA here with SPX now 2093.15 -8.91 (:TECHX) :  

3:20 pm Market View: Biotechnology- XBI, IBB, & Banks- KRE, KBE, XLF the top-performing sector ETFs moving through the final hour of trading here with SPX @ 2096.01 -6.05 (:TECHX) :  

3:10 pm Mylan Labs announces Settlement of patent litigation with Pfizer (PFE) related to Viagra; details not disclosed (MYL) : Mylan Inc. and Mylan Pharmaceuticals have entered into a settlement and license agreement with Pfizer Inc (PFE), Pfizer Limited and Pfizer Ireland Pharmaceuticals to settle patent litigation relating to Mylan's Abbreviated New Drug Application filed with the U.S. Food and Drug Administration for Sildenafil Citrate Tablets 25 mg, 50 mg, and 100 mg.

• Under the terms of the agreement, Mylan will be able to launch its ANDA products pursuant to a royalty-bearing license as early as December 11, 2017, or sooner under certain conditions, subject to FDA approval. 
  

2:31 pm Kroger announces ratification of a new labor agreement with UFCW Local 227 in Louisville, KY (KR) :  

1:50 pm Market View: SPY, DIA, & QQQ all trade at/near Lod approaching the start of afternoon trading here with SPX now seen @ 2096.44 -5.62 (:TECHX) :  

1:35 pm Summit Hotel announces the closing of a new $125 mln unsecured seven-year term loan facility (INN) : Proceeds from the Term Loan have been used to repay outstanding borrowings under the Company's senior unsecured revolving credit facility. At the Company's election, borrowings under the Term Loan bear interest at a floating rate plus a spread over either the Eurodollar Rate or the Base Rate. The Term Loan has an accordion option which provides the Company with the ability to increase the Term Loan capacity to $200 mln

1:11 pm SPX 500 slips to session lows here in midday trading; SPX now 2098.46 -3.60 (SPY) :  

1:08 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

• NFLX (481.41 +5.90%): Upgraded to Buy from Neutral at UBS, target raised to $565 from $370 at UBS; mentioned positively at MKM Partners; co scheduled to report Q1 results after the close on April 15
• PBR (8.2 +5.81%): Bloomberg reporting that co may divest assets to fund expenditures and debt payments
• HST (20.32 +1.96%): Upgraded to Buy from Hold at Evercore ISI

Large Cap Losers

• SYMC (24.37 -4.73%): Reversal in cyber security companies following gains seen in anticipation of a 60 Minutes report on the industry
• BHP (44.1 -3.75%): Downgraded to Neutral from Buy at Citigroup; placed on CreditWatch with negative implications by S&P
• GE (27.71 -2.82%): Mentioned cautiously in Barron's article; pullback following strong gains seen Friday on news that co plans to sell its GE Capital Real Estate assets for ~$26.5 bln

Mid Cap Gainers

• CLVS (88.23 +13.99%): Upgraded to Buy from Neutral at Goldman
• JBLU (20.09 +5.49%): Reproted March traffic increased 9.2% from the prior year; technical strength
• CCJ (15.68 +3.09%): Upgraded to Buy from Neutral at BofA/Merrill

Mid Cap Losers

• SINA (35.36 -5.73%): Weakness attributed to reports that China is considering a shutdown of co's news service if censorship does not improve
• TCK (13.25 -3.64%): Downgraded to Neutral from Buy at UBS; co reached an agreement with Gibson Energy for the construction of a 500,000 barrel dedicated storage tank at the Gibson terminal in Hardisty, Alberta
• FET (21.49 -3.37%): Downgraded to Undperform from Hold at Jefferies

1:01 pm Coca-Cola: Wintergreen Advisers cites changes in Coca-Cola proxy, but says big issues remain; says ' Coca-Cola strategy lacks boldness and urgency of Heinz and Kraft (KRFT) restructurings' (KO) :

• David Winters, CEO of Wintergreen Advisers, said: "While there has been progress in some areas at Coca-Cola, the board continues to give Muhtar Kent and his team excessive rewards, and we question whether many Coca-Cola directors are able to vigorously act for all shareholders given their overlapping business interests."
  
• Wintergreen believes the Coca-Cola 2015 Proxy Statement:
• Contains a misleading characterization of CEO Muhtar Kent's pay. Coca-Cola's proxy statement says Muhtar Kent 'respectfully declined' his annual incentive award, suggesting he took a meaningful pay cut. In fact, the board increased his stock and option awards, making his total pay about even with 2014.
• Shows missed performance targets that were apparently overlooked when awarding pay for top managers. Coca-Cola managers failed to meet two out of three of their annual performance targets, and met only the very bottom end of the third. 

12:53 pm Midday Market Summary: Nasdaq Leads (:WRAPX) : The major averages are mixed at midday after retreating from their early highs. The Nasdaq (+0.3%) has shown relative strength since the start while the S&P 500 hovers just below its flat line.

Equity indices have begun the trading week on an unassuming note, hitting their session highs during the opening hour. Since then, the S&P 500 has slowly dripped back to its flat line while the Nasdaq has been supported by large cap tech names like Apple (AAPL 127.37, +0.27), Google (GOOGL 551.68, +3.14), and Microsoft (MSFT 41.96, +0.24). The three heavyweights are up between 0.2% and 0.6% while the broader technology sector trades higher by 0.3%.

Furthermore, the Nasdaq has received another measure of support from biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 359.97, +2.53) has narrowed its gain to 0.7% after being up more than 1.0%, but the ETF remains on track to register its sixth consecutive advance. For its part, the health care sector (-0.1%) represented an area of early strength, but the heavily-weighted group has slipped behind the broader market.

Elsewhere among influential groups, the financial sector (+0.6%) outperforms with several major components set to report their earnings this week while energy (-0.4%) and industrials (-0.5%) lag.

Notably, the energy sector started in the lead, but the group has slumped to the bottom of the leaderboard amid a pullback in crude oil. Currently, the energy component is higher by 0.8% at $52.02/bbl after testing the unchanged level during the past hour.

Also of note, the industrial sector has retreated due to a 3.0% decline in General Electric (GE 27.65, -0.86) as the stock retraces a portion of its 10.8% surge from Friday. Meanwhile, transport names outperform with the Dow Jones Transportation Average trading higher by 0.2%.

Treasuries have reclaimed their overnight losses and they currently hold slim gains with the 10-yr yield down one basis point at 1.94%.

Investors did not receive any economic data this morning, but the Treasury Budget for March (Briefing.com consensus -$44.00 billion) will be released at 14:00 ET.

12:52 pm Qualcomm responds to statements made by JANA Partners; 'we are committed to the ongoing return of capital to stockholders while retaining the financial flexibility' (QCOM) :

• Co is firmly committed to maintaining an active dialogue with all stockholders and to acting in their best interests. 
• "Our business continues to generate strong operating cash flows, and we are committed to the ongoing return of capital to stockholders while retaining the financial flexibility to execute on our business plans. We recently significantly increased our stock repurchase authorization to $15 billion, one of the largest capital return programs in the sector. We plan to repurchase $10 billion of common stock within one year in addition to our current capital return commitments. Since inception, we have exceeded our minimum capital return target of 75% of free cash flow. Our Board of Directors and management periodically review our corporate structure. Prior reviews have concluded that the synergies provided by our business model create more value for stockholders than could be created through alternative corporate structures. We will continue to evaluate opportunities to enhance stockholder value and are committed to pursuing the right course of action for all of our stockholders."
  

12:03 pm Energy- XLE, Utilities- XLU & Industrials- XLI pace the weakest SPX 500 sectors into midday trading here with SPX now @ 2103.72 +1.66 (SPY) :  

12:02 pm GoPro announces HEROCast HD micro transmitter, will be available as independent unit (GPRO) :  

11:59 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:+0.3%
• Spain's IBEX:+1.0%
• Portugal's PSI:+0.1%
• Italy's MIB Index:+0.6%
• Irish Ovrl Index:+0.4%
• Greece ASE General Index: CLOSED (Easter Monday)

11:46 am Targa Resources Partners announces an exchange offer for $350 mln of its 6 5/8% Senior Notes due 2020 (NGLS) : Co announced today the commencement of an offer to exchange any and all of the outstanding unsecured 6 5/8% Senior Notes due 2020 issued which have an aggregate principal amount outstanding of $355.1 million for an equal amount of new unsecured 6 5/8% Senior Notes due 2020.

• The new TRP Notes will have substantially the same economic terms as the outstanding APL Notes for which they are being offered in exchange, including interest rate, interest payment dates, optional redemption terms and maturity. 
• In connection with the exchange offer, Targa is soliciting consents to amend the APL Notes and the indenture governing the APL Notes. The proposed amendments would delete in their entirety substantially all the restrictive covenants in the indenture governing the APL Notes and eliminate certain events of default.
  

11:45 am Essex Rental: Casey Capital shareholder group respondes to the company's evaluation of strategic alternatives for Essex Crane Rental Corp (ESSX) : Group's letter stated: "We believe the updates provided in the press release published April 10, 2015 by Essex Rental Corp. regarding Essex Crane Rental Corp continues to demonstrate that the current Board of Directors is unable to and has no interest in maximizing stockholder value.

• The press release announces that the Company has chosen not to pursue strategic alternatives for the entire company, electing instead to do so only for its subsidiary Essex Crane Rental Corp. This is despite the fact that the Company's two operating subsidiaries are likely worth significantly more together to certain buyers. 
• We believe certain members of the Board, specifically the special purpose acquisition company  founders Laurence Levy and Ed Levy, recognize this reality but prefer not to maximize stockholder value. 
• Instead, their priority is to maintain their positions on the Board so that they can continue to extract unreasonable compensation and fees from Essex. 
• We believe we have submitted the slate of nominees that can maximize ESSX stockholder value."
  

11:39 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (193) outpacing new lows (23) (:SCANX) : Stocks that traded to 52 week highs: A, AAIT, AAXJ, AB, ABC, ACGL, ACHC, ACWI, ADS, ADXS, AEO, AEPI, AERI, AGO, AIG, ALV, AMCX, AMOT, ANAC, AOD, APB, APOG, ARAY, ASMB, ATRA, AWH, AXTA, AZO, BAMM, BCV, BHV, BLDR, BONA, BTX, BX, BXMT, CAF, CBAN, CBF, CBM, CBPO, CDW, CDXS, CEB, CERN, CGNX, CHXF, CI, CLVS, CNR, COL, CRI, CRRC, CSGP, CSU, CUDA, CW, CYN, CYT, DCO, DDS, DFP, DHIL, DL, DNKN, DPLO, DTSI, DXCM, DXJS, EEMA, EGRX, EIG, EIGI, ELLI, ENDP, EPAM, ETM, EURN, EVHC, EWBC, FCHI, FDP, FONE, GIII, GIMO, GMED, GNE, GPN, GRX, GSH, HCA, HIFR, HILL, HMHC, HMN, HOFT, HRC, HRS, HTLF, HW, ICLN, IMAX, INAP, INCY, INTL, IPCM, IPKW, IPWR, IR, ISCA, ISRG, IVC, JBLU, JD, JEQ, JFC, KRNT, KTWO, LBY, LCI, LMAT, LUX, MACK, MASI, MCO, MDGN, MFLX, MNTA, MRGE, MTD, MTG, MYCC, NAP, NAT, NHTC, NOAH, NOW, NRZ, NVRO, OMCL, ORBK, PARR, PETS, PFE, PFNX, PKI, PLAY, PLT, PNQI, PRFZ, PRTO, PSCH, PZE, QLIK, RDY, REPH, RGA, SABR, SGC, SHOO, SHW, SIGM, SNPS, SQNM, STCK, STK, STON, STRZA, STZ, SVU, TANH, TDY, TGT, THQ, THRM, TLMR, TRK, TXMD, TXT, TYL, UA, ULTI, UTHR, VICR, VIPS, VRX, VTWG, VTWO, VUSE, WD, WETF, WWAV, XLS

Stocks that traded to 52 week lows: APOL, ARTW, CIDM, CLTX, CRVP, EAC, EQS, ICLD, IRG, ISDR, IVAC, LC, MVG, NSPH, PRKR, RGSE, SCHN, STRI, SVLC, TICC, TKC, VRS, ZEUS

ETFs that traded to 52 week highs: CUT, FXI, GXC, HAO, IHI, ITA, IWM, PIN, TAN, TAO, UWM

ETFs that traded to 52 week lows: VXX, VXZ

11:37 am Market View: Financials & Banks- FAS, XLF trade to session highs before tomorrow's scheduled quarterly earnings results for both JPM & WFC (:TECHX) :  

11:16 am Currency Commentary: DXY Eyeing 100 (:SUMRX) :

• The Dollar Index pressed to 99.99, just shy of the 100 psych level. The DXY has been strong the past few sessions but it did see a roll over from that key level as it slipped back to 99.40. 100.39, set back on March 13, will set up as a key level moving forward. It is a slow start to the week on the news front but that will pick up as we have earnings season kicking off into full gear and some notable economic data (Tue- Retail Sales; Wed- Empire, IP, Fed Beige Book; Thu- Housing Starts and Fri- CPI) on tap this week. 
• The euro remains offered as it falls back into the 1.05 area. 1.0460 will set up as a key level of support for the single currency. The ECB will be meeting on Wednesday and there is some thought that a recent uptick in economic data could lead Mario Draghi to strike a slightly more hawkish tone at his press conference. That may lead to some thoughts that the current QE program could wind up sooner than expected. 
• The pound is attempting to settle at the 1.4640 level. The country will prepare itself for the latest round of inflation data tomorrow morning. These figures are projected to decline further so the market reaction will be closely monitored. 
• The yen is straddling the 120 level. Yen saw a brief spike higher on headlines that a key economic adviser to PM Abe made comments about the yen being cheap. This will soften any expectations that the BoJ plans to take more action in its stimulus program (BONDX, FOREX).
  

11:02 am Wi-LAN subsidiary Variable Lighting announces entrance into a license agreement with Apex Chance Limited; considerations not disclosed (WILN) : Under the terms of the agreement, Apex Chance has licensed patented technologies that relate to the control of LED lighting used in certain residential applications. WiLAN secured the rights to license the patents through a partnership agreement that was announced in November 2014

11:02 am Market View: Biotechnology ETFs BBH +1.3% & IBB +1.0% continue higher into mid-morning trading with SPX now @ 2104.61 +2.55 (:TECHX) :  

11:01 am Hortonworks to acquire SequenceIQ, an open source provider of rapid deployment tools; transaction is expected to close in Q2 (HDP) :  

11:01 am Alnylam Pharma announce publishing of pre-clinical study results of ALN-AT3 (ALNY) : Co announced today the publication in Nature Medicine of pre-clinical results with ALN-AT3, an investigational RNAi therapeutic targeting antithrombin (AT) for the treatment of hemophilia and rare bleeding disorders. Among the many findings reported, subcutaneous administration of ALN-AT3 led to potent, dose-dependent, and durable knockdown of AT in wild-type mice, hemophilia A mice, and non-human primates (NHPs).

• In addition, ALN-AT3 treatment improved hemostasis in hemophilia mice and normalized thrombin generation in a non-human primate "inhibitor" model of hemophilia A. Furthermore, long-term ALN-AT3 administration -- even at highly exaggerated doses -- was shown to be well tolerated in hemophilia mice, supporting a wide therapeutic index in the disease setting. 
• These results demonstrate that ALN-AT3 can normalize thrombin generation in the absence of functional levels of factor VIII and/or in the presence of anti-factor VIII antibodies in a large animal model, providing key pre-clinical proof of concept for the program. 
• In addition, the new paper documents the results of tolerability studies that suggest a wide therapeutic index for ALN-AT3 in the hemophilia setting. Specifically, highly exaggerated doses of ALN-AT3 resulting in essentially complete ablation of AT were evaluated in wild-type and hemophilia mice. 
• The company intends to provide additional results from the ongoing Phase 1 study in mid-2015 and then again in late 2015.
  

11:00 am Sharps Compliance entered into a new $9.0 mln credit facility (SMED) : The new facility will be available for, (i) working capital and other general corporate purposes (up to $4 million) and (ii) funding for acquisitions (up to $5 million). The agreement replaces the Company's existing credit facility.

10:47 am Market View: Some rel. sector weakness in energy services here as XLE, XOP, & OIH sector ETFs tick to new session lows (:TECHX) :  

10:28 am Furmanite announces comments on Glass Lewis and Institutional Shareholder Services proxy firm reports (FRM) : Co stated: "The Furmanite Board of Directors and management team have taken -- and will continue to take -- appropriate steps to further drive high performance and profitable growth across our global organization.

• Dissident shareholder, Mustang Capital Management has presented no credible plan or ideas to create additional value for you. They have made no concrete statements of their intentions if they gain control of the Furmanite board. We strongly believe Mustang's proposed disruption of the Board's oversight and management's execution of our strategy would be value destructive to Furmanite shareholders. 
• Glass Lewis, a leading proxy advisory services firm, agrees with the inherent risk in electing Mustang's nominees. In its April 10, 2015 report, Glass Lewis states: "While we believe a broad review of the Company's operations and strategic direction could potentially identify areas for improvement, we are concerned that the Dissident's plan, at this stage, does not offer any specific actionable suggestions to improve the Company's performance. 
• As the Annual Meeting date is rapidly approaching, the Furmanite Board strongly urges stockholders to protect the value of their investment in Furmanite by voting on the GOLD proxy card "FOR" ALL of Furmanite's director nominees."
  

10:24 am The Eastern Company: Barington Group files definitive proxy statement to elect shareholder representatives to the Board (EML) : The Barington Group announced that it has filed a definitive proxy statement with the SEC in connection with its solicitation of proxies to elect James A. Mitarotonda and Michael A. McManus, Jr. to the Board of Directors of The Eastern Company (EML) at the Company's 2015 Annual Meeting of Shareholders. The Annual Meeting is scheduled to be held at 11:00 a.m. (local time) on Wednesday, May 20, 2015 at Eastern's headquarters in Naugatuck, Connecticut. Barington group owns over 5.2% of the company's outstanding shares.

10:02 am Utilities- XLU & Industrials- XLI the weakest SPX large-cap sectors here with SPX trading 2105.66 +3.60 (SPY) :  

10:01 am Roche Hldg announces acquisition of CAPP Medical, a genomics research company; terms not disclosed (RHHBY) : Co announced it has acquired CAPP Medical, a genomics research company founded by Stanford University oncologists and industry veterans, to advance the development of technology for cancer screening and monitoring through the detection of circulating tumor DNA (ctDNA) in blood. CAPP Medical's novel technology is designed to isolate and quantify small amounts of ctDNA through a simple blood draw, which has the potential to be used for cancer therapy selection and monitoring tumor response and resistance to therapy.

10:00 am Performance Sports trading higher by 5% today following BofA upgrade; also note co's CEO will appear on CNBC's Mad Money tonight (PSG) :  

9:54 am Recro Pharma (+16%) surges to new all time high after closing acquisition of IV/IM meloxicam from Alkermes (ALKS) (REPH) : - Transformative Acquisition Diversifies Recro Pharma's Development Risk with Second, Complementary Acute Pain Product
- Phase III-Ready, Long-Acting Injectable Meloxicam Has Demonstrated Robust Efficacy, Good Tolerability in Multiple Phase II Trials
- Transaction Includes Cash Flow Positive Manufacturing, Royalty and Formulation Business

9:44 am Market View: Early sector under-performance seen in Coal- KOL, Oil Services- OIH, & Metal Miners- XME (:TECHX) :

• SPX now @ 2105.37 +3.31

9:43 am Furmanite: Mustang Capital Management shareholder group announces that ISS recommends that shareholders vote for Mustang's white proxy card (FRM) : Shareholder group stated in its letter: "Mustang urges all Furmanite shareholders to support ISS' call for resounding change on the Board by voting the WHITE proxy card TODAY to elect all four of Mustang's experienced nominees at the Annual Meeting. 

• In its report, ISS concluded that shareholders should vote for ALL FOUR of Mustang's nominees on Mustang's WHITE proxy card and noted the following: 
• Furmanite underperformed its closest peer Team, and a wider range of other peers, in various profitability measures, and demonstrates significant volatility in its performance on these key financial metrics. 
• In its report Glass Lewis & Co has also noted the following:
• Furmanite's financial performance has suffered under the watch of the incumbent board. Most notably, the Company's total shareholder return over the one-year and three-year periods was very poor on both an absolute basis and relative to peers."

9:39 am Opening Market Summary: Nasdaq Paces Opening Advance (:WRAPX) : Equity indices have climbed off their opening lows with the Nasdaq Composite (+0.4%) holding the early lead. Meanwhile, the S&P 500 (+0.1%) hovers just above its flat line with six sectors showing opening gains.

The energy sector (+0.4%) has claimed the lead while another cyclical sector-technology (+0.3%)-follows right behind. Similarly, health care (+0.3%) and financials (+0.2%) also trade ahead of the broader market.

On the downside, the industrial sector is lower by 0.4% while the remaining decliners sport slimmer losses.

Treasuries remain flat with the 10-yr yield at 1.95%.

9:34 am Market View: Indices open firmer here as SPY, QQQ, & DIA trade on session highs with SPX now @ 2104.00 +1.94 (:TECHX) :  

9:33 am Teck Resources reached agreement for the construction of a 500,000 barrel dedicated storage tank at the Gibson terminal (TCK) :

• Teck has reached agreement with Gibson Energy Inc. for the construction of a 500,000 barrel dedicated storage tank at the Gibson terminal in Hardisty, Alberta, a major hub for pipeline transportation throughout North America with connectivity to the Enbridge and Keystone export pipelines as well as area unit train loading facilities. 
• The Fort Hills oil sands project has three limited partners: Teck (20%), Total E&P Canada (TOT 39.2%) and Suncor (SU 40.8%), the developer and operator. Fort Hills has an estimated proved plus probable reserve of 3.07 billion barrels of bitumen as of December 31, 2014. The project is scheduled to produce first oil as early as Q4 2017 and achieve 90% of its planned production capacity of 180,000 bpd of bitumen within 12 months. Teck's share of production is expected to be 36,000 bpd (13 million barrels per year) of bitumen.
  

9:31 am Actavis announced today that LILETTA 52 mg is available in the U.S. for use by women to prevent pregnancy for up to three years (ACT) :  

9:30 am CGI Group announces extension of its application maintenance services contract with the Ministry of Health in Alberta for three years; contract encompasses a range of IT services and projects (GIB) :  

9:17 am On the Wires (:WIRES) :

• The Babcock & Wilcox Company (BWC) announced that its subsidiary, Babcock & Wilcox Power Generation Group, Inc. (B&W PGG), and international wear solutions supplier Magotteaux have formed a strategic alliance to enable B&W PGG to market Magotteaux's advanced coal pulverizer grinding media and Metal Matrix Composites Vertical Roller Mills (:VRM) parts to its U.S. and international customers and to investigate other strategic growth projects.
  
• Valspar Corporation (VAL) announced that it has opened a new, $45 mln advanced manufacturing center in Tianjin, China to serve customers with a wide range of innovative paints and coatings products
  
• Rexahn Pharmaceuticals (RNN) announced that it will have two poster presentations at the 2015 American Association for Cancer Research (:AACR) Annual Meeting. The conference will take place in Philadelphia, Pennsylvania, on April 18-22, 2015 at the Pennsylvania Convention Center.
  
• Halozyme Therapeutics (HALO) appoints of Harry Leonhardt, as senior vice president, general counsel and chief compliance officer. He most recently served as senior vice president of Legal and Compliance, and corporate secretary for Amylin Pharmaceuticals (AMLN)
• Land and Buildings, a shareholder of MGM Resorts International (MGM), has retained Houlihan Lokey as its financial advisor to assist in conducting an independent review of Land and Buildings' recommendations and proposals for enhancing shareholder value at MGM. Land and Buildings intends to nominate four highly qualified, independent director nominees for consideration by shareholders at the Company's upcoming 2015 Annual Meeting. Land and Buildings believes the addition of these qualified and independent nominees to the Board of MGM is critical to unlocking value at the Company and ensuring that the interests of shareholders are appropriately represented in the boardroom.
  

9:16 am Blue Earth announces multiyear services contracts with 19 customers in the New York City area (BBLU) :

• Co announced that its Blue Earth Generator (BE GEN) division has signed multiyear service contracts with 19 customers in New York City and surrounding areas.
• Many of the co's customers have at least three or four buildings and three or four diesel generators per building, bringing to ~78 Megawatts of diesel generators under multiyear contract.
• In addition, BE GEN supports an additional 40 Megawatts of diesel generators by billing the customer for time and materials.
  

9:11 am Kandi Technologies subsidiary joint venture company to explore public listing in China (KNDI) : Kandi Technologies Group announced that its subsidiary, Kandi Electric Vehicles Group Co., Ltd.  will explore public listing options in China in an effort to unlock shareholder value. The JV Company, a 50/50 joint venture company established by the Company's wholly owned subsidiary, Zhejiang Kandi Vehicles Co., Ltd., with Shanghai Maple Guorun Automobile Co., Ltd., a 99%-owned subsidiary of Geely Automobile Holdings Ltd.  held a Board of Directors meeting on April 8,2015, at which the Board authorized management to explore options for going public in China. 

9:09 am S&P futures vs fair value: -2.90. Nasdaq futures vs fair value: +1.40. (:WRAPX) : The stock market is on track for a modestly lower open as futures on the S&P 500 trade three points below fair value.

Index futures have maintained narrow ranges through what has been a quiet overnight session. In Asia, China's Shanghai Composite surged 2.2% on hopes for more stimulus after the March trade surplus came in at its lowest level in more than a year ($3.08 billion; expected $45.40 billion).

The Dollar Index (99.63, +0.29) climbed overnight and reached levels last seen in the middle of March, but recent comments from Koichi Hamada, who advises Prime Minister Shinzo Abe gave a boost the yen and pressured the greenback. Specifically, Mr. Hamada said that the current dollar/yen exchange rate of 120 is too high and that a level closer to 105 would be more appropriate.

Elsewhere, Treasuries have recovered their losses and they currently trade little changed with the 10-yr yield at 1.95%.

On the corporate front, Qualcomm (QCOM 72.70, +3.43) has jumped 5.0% in pre-market after the Wall Street Journal reported that activist investor Jana Partners has urged a breakup of the company.

Today's economic data will be limited to the 14:00 ET release of the Treasury Budget for March (Briefing.com consensus -$44.00 billion).

9:06 am Intl Flavors announces it has entered into an agreement to acquire Henry H. Ottens Manufacturing Co; terms not disclosed (IFF) : IFF announced that it has entered into an agreement to acquire Henry H. Ottens Manufacturing Co.

• The transaction, which will be funded from existing resources, is expected to add approximately $60 mln in revenue on an annualized basis and be slightly accretive to IFF's earnings per share in 2015, excluding transaction costs. 
• Financial terms of the deal have not been disclosed.
  

9:04 am Computer Prgms & Syst announces the formation of Evident, a wholly owned subsidiary of CPSI; will provide EHR solutions previously sold under the CPSI name as well as an expanded range of offerings targeted specifically at rural and community healthcare organizations (CPSI) : Co announced the formation of Evident, LLC, a wholly owned subsidiary of CPSI. Evident will provide EHR solutions previously sold under the CPSI name as well as an expanded range of offerings targeted specifically at rural and community healthcare organizations. Mr. Douglas will serve as President and Chief Executive Officer of Evident and will continue in those same positions for its parent company, CPSI.

9:04 am Quantum Fuel secures 'significant new customers' during the First Quarter of 2015 from Multiple Industry Segments (QTWW) :

• Co announced that during the first quarter of 2015 it secured a significant number of new customers and received strong order flow, indicating continued adoption of natural gas solutions in the market.
• The continued increase in new customers and expanded business opportunities has led to a developing order bank for Quantum's fully-integrated Q-CabLITE and Q-RailLITE CNG fuel storage systems and its industry leading Q-lite CNG storage tank.
• The new customer relationships cut across several transportation areas including one of the largest shipment and logistic companies in the world, a refuse company with over 50 years in hauling materials, one of the largest private grocery chains in the US, and heavy duty dealerships for Kenworth, Freightliner and Volvo.
  

9:03 am RPM Inc acquires UK's largest wood finishes manufacturer; terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed (RPM) :

• Co announced that its RPM2 Group has acquired Morrells Woodfinishes Ltd., the United Kingdom's largest manufacturer of high-performance wood finishes.
• Based outside of Manchester, Morrells has annual net sales of approximately $33 million and nearly 150 employees.
• The company will remain a stand-alone operation within RPM2's Wood Finishes Group.
  

9:03 am TrueCar estimates consumer purchases of certified pre-owned (:CPO) vehicles will expand by 11% to ~$45 bln in 2015 (TRUE) :  

8:58 am On the Wires (:WIRES) :

• Bio-Rad Laboratories (NBIO) announced the launch of the BioPlex 2200 25-OH Vitamin D kit for use on the company's BioPlex 2200 system in U.S. markets. The assay offers a fully-automated method for the quantitative measurement of total 25-hydroxyvitamin D in human serum
  
• Zayo Group Holdings (ZAYO) announced it has established a dedicated product team for its new Live Video service. The service will provide customers in the broadcast, production, video distribution, sports and live event industries with video local loops for point-to-point live video, managed video and distribution network for long haul video delivery
  
• Broadridge Financial Solutions (BR) announced the launch of a new managed service offering designed to help capital markets firms with trade expense management
  
• SolarCity (SCTY) announced a partnership with Nest Labs, creator of the Nest Learning Thermostat. The first 10,000 new customers in California who sign up with SolarCity will receive a Nest Thermostat installed at no additional cost. To qualify, customers must have a compatible air conditioning system and agree to connect their Nest Thermostat to SolarCity as part of the Works with Nest program.
  
• The Coca-Cola Company (KO) United States Soccer Federation and Major League Soccer (:MLS) announced a new, multi-year partnership agreement to help bring soccer to new heights in the United States. The deal also includes a renewal of the Company's standing partnership with the Mexican National Team's U.S. Tour.
  
• EarthLink Holdings Corp. (ELNK) announced the launch of its new managed IPsec VPN service. IPsec VPN was developed to support secure data exchange and is used to economically and securely connect multiple locations on a high-bandwidth, PCI-compliant network
  

8:54 am S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -0.30. (:WRAPX) : The S&P 500 futures trade four points below fair value.

Markets in the Asia-Pacific region finished mostly higher on Monday. Hong Kong's Hang Seng Index and China's Shanghai Composite continued their bull runs, rallying 2.7% and 2.2%, respectively in the face of weaker than expected trade data out of China. The latter reportedly left traders inclined to think further policy stimulus will be provided.

• In economic data: 
  • China's March Trade Balance $3.08 billion (expected $45.40 billion; prior $60.60 billion) as Exports -15.0% year-over-year (expected +12.0%; prior +48.3%) and Imports -12.7% year-over-year (expected -11.7%; prior -20.5%) 
  • Japan's February Core Machinery Orders -0.4% month-over-month (expected -2.8%; prior -1.7%); +5.9% year-over-year (expected +3.7%; prior +1.9%) while M2 Money Stock +3.6% year-over-year (expected +3.6%; prior +3.5%) 
  • South Korea's March Export Price Index -6.8% year-over-year (prior -8.1%) and March Import Price Index -17.1% year-over-year (prior -17.8%) 

------

• Japan's Nikkei drifted through Monday's trade and ended basically flat for the session. Gains in the communications (+0.9%) and energy (+0.3%) sectors were offset by weakness in the financial (-0.8%) and consumer non-cyclical (-0.8%) sectors. Nippon Electric Glass Co (+17.7%) and Mitsumi Electric Co (+7.2%) led all gainers while Kikkoman Corp (-3.6%) and Tokyo Gas Co (-3.5%) paced the losers. Out of the 225 index members 95 finished higher, 118 ended lower, and 12 were unchanged. 
• Hong Kong's Hang Seng surged another 2.7% and closed at its high for the session. The Hang Seng has soared a little over 3500 points, or 14.4%, over its last eight trading sessions with mainland investors helping to power the move. Monday's advance was led by the financial (+4.5%) sector. Hong Kong Exchanges and Clearing (+19.4%), Kunlun Energy Corp (+11.5%), Bank of China (+8.6%), and China Construction Bank (+7.8%) topped the list of winners. Out of the 50 index members, 30 ended higher, 15 closed lower, and 5 were unchanged. 
• China's Shanghai Composite jumped 2.2% in the wake of weaker than expected trade data for March, which fueled a trade based on the notion that further policy stimulus will be provided. The consumer non-cyclical (+2.5%) and industrial (+2.4%) sectors led the Chinese market. Over its last eight trading session, the Shanghai Composite has tacked on 374 points or 10%. 

Major European indices trade in mixed fashion with Spain's IBEX (+0.6%) showing relative strength. Elsewhere, Germany's FAZ has reported that Greece has to prepare a list of reforms by April 20 in order to receive the next installment of EU bailout funds.

• Economic data was limited: 
  • French Current Account deficit widened to EUR1.80 billion from EUR300 million (expected deficit of EUR1.20 billion) 
  • Italy's February Industrial Production +0.6% month-over-month (expected 0.5%; prior -0.7%); -0.2% year-over-year (consensus -1.3%; last -2.2%) 

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• UK's FTSE is lower by 0.5% with miners and homebuilders on the defensive. Anglo American, Antofagasta, and BHP Billiton are all down near 3.0% while Barratt Developments and Taylor Wimpey trade lower by 3.0% and 2.2%, respectively. 
• Germany's DAX has given up 0.2% with Volkswagen trading lower by 1.2%. On the upside, financials outperform with Commerzbank and Deutsche Bank showing respective gains of 0.6% and 0.4%. 
• In France, the CAC trades flat. Growth-sensitive names lag with ArcelorMittal, Valeo, and Solvay all down near 0.9%. Telecom listings outperform with Alcatel-Lucent and Orange up 3.3% and 1.1%, respectively. 
• Spain's IBEX has added 0.6% with help from financials. Santander, BBVA, and Bankinter are up between 0.4% and 1.2%.

8:51 am Silvercrest Mines announces record production in 1Q15 from its Santa Elena Mine (SVLC) : Co reported:

• Silver production of 465,391 ounces 
• Gold production record of 13,255 ounces
• AgEq(3) production record of 1,349,527 ounces
• Average mill throughput of 3,015 tonnes per day
  

8:51 am Cipher Pharma acquired INNOCUTIS Holdings, a privately held specialty dermatology company, for $45.5 mln in cash (stock is halted) (CPHR) :

• The transaction is expected to accelerate development of the North American dermatology company and add U.S. commercial infrastructure for CPHR's acquisition/in-licensing activities. Additionally, CPHR raised $100 mln Senior Notes to finance acquisition and future growth. For the 12 months ended December 31, 2014, INNOCUTIS recorded approximately US$10.1 mln in net product revenue. 
• Cipher expects the acquisition to be accretive to earnings per share within two years, consistent with management's stated objective. Consideration for the acquisition is $45.5 mln in cash to be paid on closing. The agreement also includes additional INNOCUTIS management incentive payments of up to $3.0 mln in cash over a three-year period based on the achievement of certain financial performance targets.
  

8:49 am Teekay Offshore announces public offering of Series B Preferred units (TOO) : Co announced that it plans to offer Series B Cumulative Redeemable Preferred Units representing limited partner interests, in a public offering. Teekay Offshore intends to apply to have the Series B Preferred Units listed on the New York Stock Exchange.

8:45 am Golub Capital announces middle-market originations of $161.9 mln for 2Q15 (GBDC) : Co announced that it originated $161.9 million in new middle-market investment commitments during the three months ended March 31, 2015. Approximately 63% of the new middle-market investment commitments were one stop loans, 35% were senior secured loans and 2% were equity securities.

• Of the new middle-market investment commitments, $132.9 million funded at close. Total investments at fair value are estimated to have increased by $22.3 million during the three months ended March 31, 2015

8:42 am On the Wires (:WIRES) :

• Semtech Corporation (SMTC) announced the addition of five new products as part of its new multi-rate UHD-SDI platform strategy. 
• ADP (ADP) announced the launch of AdvancedMD Marketplace, which offers private practices a broad array of innovative products and services that operate seamlessly with the ADP AdvancedMD practice management and EHR product suite. 
• Level 3 Communications, Inc. (LVLT) today announced it is enhancing its Vyvx broadcast network by extending Level 3's fiber directly into 29 additional professional sports venues in the U.S. 
• Altera Corporation (ALTR) today announced the company has joined the Industrial Internet Consortium, a collaborative industry organization facilitating development of a global ecosystem for the Internet of Things (IoT). 
• Sprint (S) announced the introduction of Sprint Direct 2 You. With Sprint Direct 2 You, a Sprint-trained expert will bring a Sprint mobile device to a customer's location, set it up and transfer all of their content, including contacts, pictures, videos and apps, from their old device to a new one. 
• AMD (AMD) announced certification for Avid Media Composer 8.4 to support broadcast and digital content creation customers for successful HD and 4K workflows powered by AMD FirePro professional graphics, both for Microsoft Windows and the Mac Pro workstations. 
• Textron Systems Marine & Land Systems, a Textron Inc. (TXT) business, announced today it has been awarded a $84,087,095 contract option from the U.S. Navy Naval Sea Systems Command for two next-generation Landing Craft, Air Cushion vehicles and associated technical manuals. Deliveries are expected in the fourth quarter of 2019.
  

8:37 am Zoetis Board of Directors has appointed Paul Bisaro, Executive Chairman of Actavis (ACT), to the company's Board of Directors (ZTS) : Bisaro's term will begin immediately following the company's 2015 Annual Meeting of Shareholders, which is scheduled for May 1, 2015.

8:35 am European Markets Update: FTSE -0.6%, DAX -0.1%, CAC UNCH, IBEX +0.6% (:SUMRX) : Major European indices trade in mixed fashion with Spain's IBEX (+0.6%) showing relative strength. Elsewhere, Germany's FAZ has reported that Greece has to prepare a list of reforms by April 20 in order to receive the next installment of EU bailout funds.

• Economic data was limited: 
• French Current Account deficit widened to EUR1.80 billion from EUR300 million (expected deficit of EUR1.20 billion) 
• Italy's February Industrial Production +0.6% month-over-month (expected 0.5%; prior -0.7%); -0.2% year-over-year (consensus -1.3%; last -2.2%) 

------

• UK's FTSE is lower by 0.6% with miners and homebuilders on the defensive. Anglo American, Antofagasta, and BHP Billiton are all down near 3.0% while Barratt Developments and Taylor Wimpey trade lower by 3.0% and 2.2%, respectively. 
• Germany's DAX has given up 0.1% with Volkswagen trading lower by 1.2%. On the upside, financials outperform with Commerzbank and Deutsche Bank showing respective gains of 0.6% and 0.4%. 
• In France, the CAC trades flat. Growth-sensitive names lag with ArcelorMittal, Valeo, and Solvay all down near 0.9%. Telecom listings outperform with Alcatel-Lucent and Orange up 3.3% and 1.1%, respectively. 
• Spain's IBEX has added 0.6% with help from financials. Santander, BBVA, and Bankinter are up between 0.4% and 1.2%.
  

8:35 am Aerohive Networks lowers Q1 guidance (HIVE) : Co lowers Q1 guidance: EPS to ($0.28-0.26) from ($0.24)-(0.21) vs ($0.22) Capital IQ Consensus; rev to $25-26 mln from $29-31 mln vs $30.02 mln Capital IQ Consensus.

• "While our international business performed to expectations, our North America business fell well short of expectations," stated David Flynn, President and Chief Executive Officer. "This result primarily reflects the combination of significantly lower than expected U.S. education business during the quarter, orders received late in the quarter that could not be recognized as revenue, and continued sales execution challenges that we have seen during the last few quarters."
• Co has appointed a new Senior Vice President (:SVP) of Worldwide Sales to grow the capacity and productivity of Aerohive's global salesforce and facilitate future growth.
  

8:34 am MGM Resorts files definitive proxy materials and sends letter to shareholders; says 'MGM's board has the track record and expertise to drive sustainable growth in shareholder value' (MGM) : Co announces that it has filed definitive proxy materials with the SEC in connection with its 2015 Annual Meeting of Shareholders, to be held on May 28, 2015. The Board also sent a letter to shareholders and recommends that shareholders vote FOR the election of MGM's nominees on the WHITE proxy card. Here are the key points: 1) MGM'S board has track record and expertise to drive sustainable growth in shareholder value, 2) the land & buildings proposal is seriously flawed, 3)  board change at MGM is not warranted and is not in the best interests of shareholders, and 4) please vote the white proxy card today in favor of your board.

8:33 am Great Panther Silver and Cangold Limited announce a definitive arrangement agreement pursuant to which Great Panther will acquire all of the issued and outstanding common shares of Cangold (GPL) : Co and Cangold Limited announce a definitive arrangement agreement pursuant to which GPL will acquire all of the issued and outstanding common shares of Cangold by way of a court-approved plan of arrangement. Total share consideration is valued at approximately $1.7 mln.

• The transaction will result in Great Panther adding more than 6,000 hectares of the advanced stage Guadalupe de los Reyes Gold-Silver Project to its existing portfolio of projects and two primary silver producing mines in Mexico at Guanajuato and Topia. The transaction also adds Cangold's Plomo Gold Project in Mexico, and its past-producing Argosy Gold Mine in the Red Lake Mining Division of northeastern Ontario, Canada.

8:33 am Karyopharm Therapeutics announces the issuance of a U.S. Patent for Selinexor (KPTI) : Co announced the issuance of U.S. Patent No. 8,999,996 entitled "Hydrazide Containing Nuclear Transport Modulators and Uses Thereof." This patent, which will expire in 2032 absent any patent term extensions, covers the composition-of-matter of Karyopharm's lead product candidate, selinexor (KPT-330), a first-in-class, oral SINE compound, as well as certain other compositions and related methods.

8:32 am ARCA biopharma announces the FDA has designated as a Fast Track development program the investigation of Gencaro for the prevention of atrial fibrillation/atrial flutter (ABIO) : Co announces that the FDA has designated as a Fast Track development program the investigation of Gencaro for the prevention of atrial fibrillation/atrial flutter in a genetically modified heart failure population (heart failure patients with reduced left ventricular ejection fraction, HFREF).

• Gencaro is the company's investigational, pharmacologically unique beta-blocker and mild vasodilator.
  
  
• Gencaro is currently being evaluated as a potential treatment for atrial fibrillation in a genetically-defined heart failure population in GENETIC-AF, a Phase 2B/3 adaptive design clinical trial.
  
  
• ARCA anticipates that enrollment of approximately 200 patients in the Phase 2B portion of the trial will be completed by the end of 2016.
  

8:31 am Lightbridge announces it has regained compliance with the NASDAQ continued listing requirement regarding minimum market cap (LTBR) :  

8:31 am Tutor Perini announces its subsidiary, Cherry Hill Construction, has recently been awarded a contract by the Pennsylvania Department of Transportation valued at ~$58.3 mln (TPC) : Co announced that its subsidiary, Cherry Hill Construction, has recently been awarded a contract by the Pennsylvania Department of Transportation (PennDOT) for the Interstate 83 Exit 18 (Mt. Rose Avenue) Interchange Improvements Project in York County, Pennsylvania. I-83 is a major highway in south central Pennsylvania. The contract value is approximately $58.3 million. Notice to Proceed will be issued in April 2015 and substantial completion is scheduled to be achieved in June 2018. The contract value will be included as part of the Company's reported first-quarter backlog.

8:31 am Sungy Mobile announces the receipt of a preliminary non-binding 'going-private' proposal at $4.90 per ADS (halted) (GOMO) :

• Co has received a preliminary non-binding proposal letter, dated April 13, 2015, from Mr. Yuqiang Deng, chairman and chief executive officer of Sungy Mobile, and Mr. Zhi Zhu, co-chief operating officer of the Company. According to the proposal letter, Mr. Deng and Mr. Zhu are interested in acquiring all of the Company's outstanding ordinary shares that are not currently beneficially owned by them, including ordinary shares represented by the Company's American depositary shares or "ADSs" (each representing six Class A ordinary shares of the Company), at a price of $4.90 in cash per ADS (or approximately $0.82 in cash per ordinary share).
• The proposal letter states that they intend to finance the proposed transaction with debt capital. Furthermore, the proposal letter specifies that Mr. Yuqiang Deng and Mr. Zhi Zhu's proposal constitutes on a preliminary indication of their interest, and is subject to negotiation and execution of definitive agreements relating to the proposed transaction. There can be no assurance that any definitive offer will be made by Mr. Yuqiang Deng, Mr. Zhi Zhu or any other person, that any definitive agreement will be executed relating to the proposed transaction, or that the proposed transaction or any other transaction will be approved or consummated.
  

8:30 am Versartis Initiates Phase 2/3 trial of VRS-317 in Japan (VSAR) :

• Co an endocrine-focused biopharmaceutical company that is developing a novel, long-acting form of recombinant human growth hormone (rhGH), announced the initiation of its Phase 2/3 study of VRS-317 in Japan for children with growth hormone deficiency (:GHD).
• Assuming comparable safety, pharmacokinetics and pharmacodynamics between U.S. and Japanese GHD children in the Phase 2 stage, the Phase 3 stage will use the same dose under evaluation in the global Phase 3 VELOCITY trial (3.5 mg/kg VRS-317 twice monthly).
• The Japan Phase 3 stage will be a single arm study of twice monthly VRS-317 for 12 months and will enroll pre-pubertal nave to treatment GHD children. The co will also conduct an open label Extension Study in Japan to allow Phase 2/3 patients to continue treatment with VRS-317 and allow enrollment of patients switching from current daily rhGH therapy to VRS-317.
  

8:30 am Jamba plans to further accelerate refranchising and movement to asset-light model (JMBA) : Co announces plans to further accelerate their refranchising initiative with a goal of becoming a 90% plus franchise-to-company-owned model by the end of fiscal year 2015. Co expects that with this further accelerated program, the Company's refranchising initiative will generate between $55 - $75 mln of cash proceeds in 2015 in the aggregate.

8:30 am Associated Estates announces letter sent by two newest independent members of the Company's Board of Directors; urging shareholder to vote company's slate of directors (AEC) : Co announces that Douglas Crocker II and Jon A. Fosheim, the two newest independent members of the Board of Directors, have sent a letter to shareholders in connection with the 2015 Annual Meeting. The letter provides an update on the recent discussions Messrs. Crocker and Fosheim have had with Associated Estates shareholders regarding the company's track record of value creation, substantially reconstituted Board, recently implemented governance enhancements, and long-term strategy to continue to create value for shareholders.

"Given the impressive and substantial progress being made at Associated Estates, we urge you to protect the value of your investment by voting the WHITE proxy card today to support the Associated Estates slate: Douglas Crocker II, Jon A. Fosheim, Jeffrey I. Friedman, John S. Gates, Jr., Michael E. Gibbons, James J. Sanfilippo, James A. Schoff and Richard T. Schwarz."

8:28 am Gapping down (:SCANX) : Gapping down

Select metals/mining stocks trading lower with Gold Futures down 0.4%: MT -1.5%, CLF -1.4%, ABX -1.3%, VALE -1.2%, GOLD -1%, GDX -0.9%, SLV -0.9%, SLW -0.9%

Other news: ANR -3.9% (discloses its subsidiary received an imminent danger order from the Mine Safety and Health Administration; also downgraded to Sell at UBS), SINA -3.3% (modestly pulling back following last weeks strength), XONE -2% (files for $150 mln mixed securities shelf offering), SHPG -1.2% (still checking), GE -0.9% (slight pull back after Friday's strength)

Analyst comments: ALLT -3.5% (downgraded to Hold from Buy at Needham ), BHP -2.7% (downgraded to Neutral from Buy at Citigroup), QLYS -2% (downgraded to Neutral from Outperform at Robert W. Baird), RIO -0.7% (downgraded to Neutral from Buy at Citigroup), BP -0.5% (downgraded to Neutral from Buy at BofA/Merrill)

8:25 am Gapping up (:SCANX) : Gapping up
In reaction to strong earnings/guidance: VNET +11.3%, GBSN +9.2%, (reaffirms guidance)

M&A news: QCOM +4.8% (Jana Partners wants QCOM to consider breakup, according to WSJ)

Select China related names showing strength after Shanghai was up 2%+ last night: AXN +9.5%, JMEI +3%, SFUN +2.2%, DANG +2%, KNDI +1.6%

Other news: CPST +15.4% (announces organization structure changes; will eliminate three executive positions for annual estimated savings of $2 mln),ARWR +15.2% (cleared by FDA to proceed with multiple dose Phase 2b study of ARC-520),ASTI +12.6% (announced it has begun supplying PV for the solar wings of their vehicles as SFUAS is preparing for the production runs to fill its first commercial orders of the Silent Falcon vehicle),SINO +11.3% (announces acquisition of tanker; SINO issued 1.2 million shares of its restricted common stock representing $2,220,000 of the $10.5 million purchase price),FRO +7.2% (still checking),P +6.6% (following reports that peer Spotify may be valued at $8 bln following refinancing ),QTM +5.4% (cont strength),HRG +5.3% (positive Barron's mention),NFLX +3% (files preliminary proxy statement for June 9, 2015 Annual Meeting; one of the proposals seeks to increase the number of shares of capital stock co is authorized to issue),AEZS +2.9% (announces it has plans to initiate a Phase 3 study of Macrilen following a successful meeting with FDA),SHLD +2.1% (Sears Hldg and Simon Property Group (SPG) announce a joint venture for 10 Sears Holdings properties),TSL +1.9% (announces module supply agreement to supply 116 mw modules to Japan's largest solar power project),SUNE +1.1% (positive Barrons mention),AKER +0.7% (announces six new distributors to market its rapid tests for heparin-induced thrombocytopenia in nine additional countries within Europe)

Analyst comments: CLVS +5% (upgraded to Buy from Neutral at Goldman),HABT +2% (upgraded to Outperform at Robert W. Baird),CCJ +1.7% (upgraded to Buy from Neutral at BofA/Merrill),UNH +1.5% (upgraded to Buy from Hold at Jefferies),AV +1.4% (resumed with a Overweight at JP Morgan),MRO +1.3% (upgraded to Buy from Neutral at BofA/Merrill),HSBC +1.3% (upgraded to Equal-Weight at Morgan Stanley),LPX +0.8% (upgraded to Sector Perform at RBC Capital Mkts)

8:25 am S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -0.20. (:WRAPX) : U.S. equity futures continue holding modest losses with S&P 500 futures four points below fair value.

Elsewhere, the Dollar Index (99.70, +0.36) is higher by 0.4% as it hovers just below its March high that was established on March 13. The index experienced a 4.0% pullback over the next couple weeks, but has come charging back in recent days.

Today, the dollar has added about 0.3% against the euro, pressuring the single currency to 1.0555.

8:24 am Noble Energy announces additional Falkland Island acreage and 2015 drilling update (NBL) : Co announced that it has acquired a 75 percent interest and operatorship of the PL001 License in the North Falkland Basin from Argos Resources Limited. The PL001 License covers an area of nearly 285,000 gross acres and is located to the northwest of the PL032 License, which includes the Sea Lion oil discovery. Edison International SpA has obtained the remaining 25 percent interest in the PL001 License.

• Noble Energy and Edison will provide to Argos a 5 percent royalty override from all hydrocarbon development on the license. Company's initial operated Falkland Islands prospect, Humpback, is now expected to commence drilling by early May 2015. 
• Noble Energy has identified the Rhea prospect as its initial target on the PL001 License. 
• Rhea is anticipated to commence drilling in the third quarter of 2015 with Noble Energy's second slot on the 2015 Falkland Islands drilling campaign.

8:09 am Hanover Insurance will transfer its UK motor business to Markerstudy Group for total consideration of ~$60 million (THG) : The transaction will be executed through a 100 percent reinsurance arrangement for prior claim liabilities and in-force policies written by this division and the sale of the entities associated with this business. The transaction is not expected to have a material impact on Hanover's 2015 operating earnings

8:09 am Smart & Final Stores sees Q1 rev above estimates (SFS) : Co issues guidance in connection with proposed $100 mln offering by selling shareholders.

Co sees Q1 revs $822 mln vs $819.54 mln Capital IQ Consensus; comps +6.1%; gross margin 14.6-14.9%; adj. EBITDA $34-35 mln.

8:07 am NRG Yield Sends Letter to NRG Stockholders; requesting approval of a recapitalization of the Company's outstanding common stock (NYLD) :

• "If approved, we expect that the recapitalization will enable NYLD to continue to raise capital in the equity markets to fund its growth through the acquisition of assets while minimizing the impact on the current voting rights of existing NYLD stockholders and maintaining the current sponsorship of the Company by its parent company NRG Energy, Inc". 
• "Company and NRG have entered into an amended Right of First Offer Agreement that expands the ROFO asset list with approximately 900 megawatts of new, long-term contract natural gas assets in California, approximately 900 MWs of wind assets and up to $250 million of equity investments in residential solar and distributed generation portfolios, representing a potential new asset class for NYLD".
  

8:07 am Wynn Resorts: Wynn management announces Glass Lewis recommends Wynn Resorts stockholders vote 'FOR' ALL of Wynn Resorts' director nominees (WYNN) :

8:05 am Trinseo announced that it intends to raise $750 million equivalent in gross proceeds (TSE) : Co announced that it intends to raise $750 million equivalent in gross proceeds (in one or both of U.S. dollars and euros) through an offering of senior notes due 2022 by its subsidiaries Trinseo Materials Operating S.C.A. and Trinseo Materials Finance, Inc.

• The net proceeds from the notes offering, together with approximately $450 million of term loan borrowings expected to be available under the Issuers' new senior secured credit facility and available cash, will be used to repay all outstanding indebtedness under the Issuers' 8.750% Senior Notes due 2019.
  

8:05 am The Children's Place rejects Director nominations from Barington and Macellum (PLCE) :

• Co confirmed that it has received notice from Barington Capital Group and Macellum Advisors, which collectively own less than two percent of the Company's shares, that they have nominated three individuals in opposition to The Children's Place's three nominees -- Norman Matthews (Chairman of the Board), Kenneth Reiss (Chair of the Audit Committee) and Stanley Reynolds (member of the Audit Committee) -- standing for re-election to the Board of Directors at the Company's 2015 Annual Meeting of Stockholders, to be held on May 22, 2015.
• The Children's Place's Board of Directors has evaluated Barington and Macellum's nominees and concluded that the Company's three nominees and the other members of the Board have the right combination of expertise, experience and independence. As such, the Board recommends election of the Company's nominees and has rejected the Barington/Macellum nominees. Stockholders do not need to take any action at this time.
  

8:05 am Hospitality Props quarterly distribution increases 2.0% from $0.49 to $0.50 per share (HPT) : Co announced it has raised its regular quarterly common share distribution by $0.01, or 2.0%, to $0.50 per common share ($2.00 per share per year). This distribution will be paid to HPT's common shareholders of record as of the close of business on April 24, 2015 and distributed on or about May 21, 2015.

8:04 am Select Income REIT announces quarterly distribution increases 4.2% from $0.48 to $0.50 per share (SIR) :  

8:04 am NeoThetics announces initiation of Pivotal Phase 3 Clinical Trials for LIPO-202 (NEOT) : Co announced the initiation of two pivotal U.S. Phase 3 trials titled AbCONTOUR1 and AbCONTOUR2 of LIPO-202, the first non-invasive injectable drug candidate for reduction of central abdominal bulging due to subcutaneous fat in non-obese subjects.

8:03 am Avino Silver & Gold Q1 2015 silver equivalent production up 101% compared to Q1 2014 (ASM) : Co reports its Q1 2015 production results from its Avino property near Durango, Mexico. Silver equivalent production increased 101% to 652,620 oz; Silver production increased 56% to 363,210 oz; Gold production increased 37% to 1,750 oz; Copper production continued from startup phase in late 2014 and 872,884 Lbs were processed.

8:03 am Quotient announces technical feasibility established for MosaiQ Hepatitis B surface antigen assay (QTNT) : Co announced that results generated using the MosaiQ methodology demonstrated a high degree of sensitivity and specificity for its Hepatitis B Surface Antigen (HBsAg) assay. The feasibility study was conducted in collaboration with Intuitive Biosciences, Inc., and examined a total of 96 positive and negative samples. The HBsAg assay exceeded Quotient's target of sensitivity and specificity for this phase of development, demonstrating that the MosaiQ methodology can be applied to HBsAg detection. Findings from the study demonstrated sensitivity of 98.6% (23 detected versus 24 positive samples) and 100% specificity (72 negative samples reported as negative). In addition, the MosaiQTM methodology detected the HBsAg standard of 0.2 International Units Per Milliliter. As a result of these positive study results, Quotient now plans to complete the development and validation of the HBsAg assay, including improvement of the analytical sensitivity for inclusion on the MosaiQ disease screening consumable for donor testing. MosaiQ is currently under development and is not available for sale in the United States. Quotient plans to begin field trials for its full donor disease screening consumable (comprising CMV, Syphilis, HBV, HCV, HIV, HTLV and T. cruzi) in 2016.

8:02 am Tahoe Resources sees FY15 gold production 200-220K oz (TAHO) : Subsequent to the successful completion of the Plan of Arrangement between Tahoe and Rio Alto, the Co is providing production and cost guidance as well as reserve and resource information as set out in the following tables. Note that the Rio Alto gold figures represent only three fiscal quarters of expected production in 2015 due to the companies' merger closing on April 1, 2015. Full year gold production is expected to be 200,000 to 220,000 ounces.

8:02 am EXACT Sciences announces expanded patient access to Cologuard as a result of several insurers now covering the test (EXAS) : Co announced expanded patient access to Cologuard as a result of several insurers now covering the test. Cologuard is now covered for more than 90 million Medicare and commercial lives across the U.S. Since the start of 2015, several insurers began covering Cologuard as a noninvasive colon cancer screening test.

8:02 am Las Vegas Sands announces its majority-owned subsidiary Sands China Ltd. (SCHYY) has reached an agreement with the lenders in its existing credit facility to provide an additional US dollar equivalent $1 bln term loan (LVS) :

8:02 am DepoMed announces settlement with Actavis (ACT) on Gralise ANDA litigation, confirming exclusivity to 2024 and dismissing appeal (DEPO) :

• Co announced it has entered into a settlement agreement with Actavis, Inc. in Depomed's patent infringement litigation related to Actavis's Abbreviated New Drug Application seeking approval to market generic versions of Depomed's Gralise (gabapentin) 300 mg and 600 mg tablets.
• The settlement permits Actavis to begin selling generic versions of Gralise on January 1, 2024, or earlier under certain circumstances. The settlement dismisses Actavis's pending appeal with the United States Court of Appeals for the Federal Circuit of the August 2014 trial court decision finding all seven Depomed patents asserted in the litigation, which expire between 2016 and February 2024, to be valid and infringed.
  

8:01 am Builders Firstsource to acquire ProBuild for $1.63 billion in cash (stock is halted) (BLDR) : Co announces that it has entered into a definitive purchase agreement to acquire ProBuild Holdings for $1.63 bln in cash. The deal is expected to close in 2H15. With approximately $4.5 billion in revenue in 2014, ProBuild is one of the largest distributors of building materials to professional builders, contractors and project-oriented consumers in the US. ProBuild operates lumberyards, component facilities, millwork shops, gypsum yards and retail stores across 40 states.

8:01 am AstraZeneca and PatientsLikeMe announce five-year agreement to provide access to PatientsLikeMe's network in support of AstraZeneca's research initiatives (AZN) : AstraZeneca (AZN) and PatientsLikeMe sign a five-year agreement to provide access to PatientsLikeMe's global network in support of AstraZeneca's patient-driven research initiatives. AstraZeneca will use patient-reported data from PatientsLikeMe to shape future medicine development and help improve outcomes across its main therapeutic areas, with an initial focus on respiratory disease, lupus, diabetes and oncology.

8:01 am Staples nominated Kunal Kamlani for election to the Board of Directors at the 2015 Annual Meeting; Kamlani was nominated pursuant to an agreement with Starboard (SPLS) : He met with the Staples' Nominating and Corporate Governance committee, which recommended that the full Board nominate him for election. In connection with the agreement, Starboard has agreed to support all of Staples' director nominees at the upcoming 2015 Annual Meeting.

7:56 am Legg Mason reported preliminary assets under management of $702.7 billion as of March 31, 2015, up from $701.8 bln in March 2014 (LM) :

• This month's AUM included preliminary long-term inflows of $2.6 billion, driven by fixed income inflows of $3.9 billion
• Equity and Liquidity outflows were $1.3 billion and $6.5 billion, respectively. March AUM included a negative foreign exchange impact of $3.2 billion.
  

7:55 am S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -0.90. (:WRAPX) : U.S. equity futures trade modestly lower amid mixed action overseas. The S&P 500 futures hover four points below fair value after spending the night within a six-point range.

The new trading week has gotten off to a relatively quiet start with the dollar building on last week's strength. As a result, the Dollar Index (99.78, +0.44) hovers just below its best level from March.

Today's economic data will be limited to the 14:00 ET release of the Treasury Budget for March (Briefing.com consensus -$44.00 billion).

Treasuries hover near their lows with the 10-yr yield higher by three basis points at 1.98%.

In U.S. corporate news of note:

• Netflix (NFLX 462.50, +7.93): +1.7% in reaction to a UBS upgrade to 'Buy' from 'Neutral.' 
• Qualcomm (QCOM 72.50, +3.34): +4.8% after the Wall Street Journal reported that activist investor Jana Partners has urged a breakup of the company. 
• UnitedHealth (UNH 121.30, +2.30): +1.9% after Jefferies upgraded the stock to 'Buy' from 'Hold.' 

Reviewing overnight developments:

• Asian markets ended mostly higher. China's Shanghai Composite +2.2%, Hong Kong's Hang Seng +2.7%, and Japan's Nikkei settled flat 
  • In economic data: 
    • China's March Trade Balance $3.08 billion (expected $45.40 billion; prior $60.60 billion) as Exports -15.0% year-over-year (expected +12.0%; prior +48.3%) and Imports -12.7% year-over-year (expected -11.7%; prior -20.5%) 
    • Japan's February Core Machinery Orders -0.4% month-over-month (expected -2.8%; prior -1.7%); +5.9% year-over-year (expected +3.7%; prior +1.9%) while M2 Money Stock +3.6% year-over-year (expected +3.6%; prior +3.5%) 
    • South Korea's March Export Price Index -6.8% year-over-year (prior -8.1%) and March Import Price Index -17.1% year-over-year (prior -17.8%) 
  • In news: 
    • China's trade surplus came in at its lowest level in more than a year amid declining shipments to the US, Europe, and Japan 

• Major European indices trade mixed. UK's FTSE -0.5% while Germany's DAX and France's CAC hover near their flat lines. Elsewhere, Italy's MIB +0.5% and Spain's IBEX+ 0.6% 
  • Economic data was limited: 
    • French Current Account deficit widened to EUR1.80 billion from EUR300 million (expected deficit of EUR1.20 billion) 
    • Italy's February Industrial Production +0.6% month-over-month (expected 0.5%; prior -0.7%); -0.2% year-over-year (consensus -1.3%; last -2.2%) 
  • Among news of note: 
    • According to Germany's FAZ, Greece has to prepare a list of reforms by April 20 in order to receive the next installment of EU bailout funds

7:46 am Travelers announces it has agreed to acquire a majority interest in the property casualty business of its J. Malucelli Participaes em Seguros e Resseguros S.A. joint venture in Brazil; terms not disclosed (TRV) : Co announces it has agreed to acquire a majority interest in the property casualty business of its J. Malucelli Participaes em Seguros e Resseguros S.A. joint venture in Brazil. J. Malucelli commenced writing property casualty business in 2012. As a result of the transaction, TRV will own 95% of the property casualty business, with Paran Banco, the parent company of J. Malucelli, retaining a 5% interest. The property casualty company will operate under the TRV brand. TRV's interest in the surety business of the J. Malucelli joint venture will remain at 49.5 percent. Terms of the transaction were not disclosed.

7:42 am Empresas ICA announces agreement with institutional investor CDPQ to create an operational platform dedicated to transportation projects in Mexico (ICA) : The platform initially includes four projects which are the Acapulco Tunnel, the Mayab Tollroad, the Ro Verde -- Ciudad Valles Highway and the La Piedad Bypass. Under the terms of this agreement, ICA will own 51% of the platform and CDPQ, 49%. Upon closing, CDPQ will pay ICA Ps. ~$3.01 bln for its equity interest. Completion is targeted for the second quarter of 2015.

7:36 am Charter Comm announces offer of $1.5 bln in senior unsecured notes due 2023 and 2025 (CHTR) : Co intends to use the net proceeds from the sale of the New Notes (together with new borrowings under its revolving credit facility) to finance a tender offer for any and all of its outstanding $1.0 billion 7.25% Senior Notes due 2017  at a purchase price equal to $1,040.50 per $1,000 principal and $700 million 8.125% Senior Notes due 2020  at a purchase price equal to $1,045.50 per $1,000 principal

7:32 am Sino-Global Shipping announces acquisition of tanker; SINO issued 1.2 million shares of its restricted common stock representing $2,220,000 of the $10.5 million purchase price (SINO) : Co announced that it agreed to acquire, subject to a number of closing conditions, Rong Zhou, an 8,818 gross tonnage oil/chemical transportation tanker from the Vessel Seller; and in connection therewith, the Company issued to the Vessel Seller 1.2 million shares of its restricted common stock representing $2,220,000 of the $10.5 million purchase price for the Vessel.  

7:32 am Arrowhead Research cleared by FDA to proceed with multiple dose Phase 2b study of ARC-520 (ARWR) : FDA informed the Company that it can proceed with a multiple-dose Phase 2b clinical study of ARC-520, its clinical candidate for the treatment of chronic hepatitis B infection, under an investigational new drug (IND) application previously filed with the FDA.

• "Our goal is to gain site IRB approvals and perform site initiation visits to begin recruiting and enrolling patients for this study in about a month... We are also working with various regulatory agencies outside of the United States to initiate additional Phase 2b studies."
  

7:32 am NRG Energy and NRG Yield (NYLD) establish new residential solar partnership (NRG) :

• Cos formed a partnership that will invest in and hold operating portfolios of residential solar assets developed by NRG Home Solar, a subsidiary of NRG. This partnership will hold interests in an unlevered and tax equity financed residential solar portfolio. 
• As part of the agreement, NRG will periodically monetize its residential leases through NRG Yield's upfront equity investment and still retain a residual economic interest in the portfolio, while also providing NRG Yield with additional cash available for distribution. 
• NRG Yield has committed to invest up to $150 mln of cash equity into the partnership over time.

7:31 am Furmanite announces it will mail a letter to shareholders urging them to vote the GOLD proxy card at annual meeting (FRM) : Co announces it will mail a letter to shareholders in connection with the Company's 2015 Annual Meeting of Stockholders, scheduled for April 24, 2015. The Furmanite Board of Directors unanimously recommends that shareholders vote the GOLD proxy card FOR all five of the Company's highly qualified and experienced director nominees: Sangwoo Ahn, Kathleen G. Cochran, Kevin R. Jost, Joseph E. Milliron and Ralph J. Patitucci.

7:30 am Aeterna Zentaris announces it has plans to initiate a Phase 3 study of Macrilen following a successful meeting with FDA (AEZS) : Co announced plans to conduct a new, confirmatory Phase 3 clinical study to demonstrate the efficacy of Macrilen, a novel orally-active ghrelin agonist for use in evaluating adult growth hormone deficiency, as well as a dedicated thorough QT study to evaluate the effect of Macrilen on myocardial repolarization.

• During an end-of-review meeting with the FDA on March 6, 2015, the Company and the FDA agreed on the general design of the confirmatory study as well as evaluation criteria. 
• The study population will consist of patients with a medical history documenting risk factors for AGHD and will include a spectrum of patients from those with a low risk of having AGHD to those with a high risk of having the condition. The Company will submit a proposed final protocol to the FDA for approval prior to commencing the confirmatory study.

7:29 am Celgene: Mesoblast (MBLTY) announces that it has entered into a stock purchase and license agreement with Celgene (CELG) : Mesoblast announced that the Co has entered into an Agreement with Celgene. Pursuant to this Agreement, Celgene will purchase Mesoblast stock and has a six-month right of first refusal to certain disease fields. Under the terms of the Agreement, Celgene will purchase 15.3 million ordinary shares in Mesoblast Limited for a consideration of $45 million. In addition, Celgene has a six-month right of first refusal with respect to Mesoblast's proprietary mesenchymal lineage adult stem cell product candidates

7:12 am Juniper Pharma: Former Columbia Labs (CBRX) changed its name to Juniper Pharma, now trades under JNP ticker (:JNP) :  

7:11 am Cerulean Pharma announces a manuscript publication describing preclinical data regarding CRLX101 (CERU) : Co announced the publication of a manuscript in Breast Cancer Research and Treatment, describing preclinical data that demonstrate CRLX101, Cerulean's lead proprietary investigational drug, targets breast cancer stem cells and impedes resistance to anti-angiogenic therapy in breast cancer mouse models.

• The results of the study demonstrate that CRLX101, a dual topoisomerase-1 and HIF-1a inhibitor, blocks the HIF-1a mediated increase in cancer stem cells induced by Avastin in a triple-negative breast cancer xenograft mouse model. The up-regulation of HIF-1a by Avastin is believed to be a mechanism of resistance to anti-angiogenic therapy. 
• The combined effects of CRLX101 plus Avastin on cancer stem cells and bulk tumor cells resulted in significant tumor shrinkage and delayed recurrence in this model. The manuscript posits that these data provide a compelling rationale for combining CRLX101 with angiogenic agents in patients with cancer where HIF-1a mediated increases in cancer stem cells may play a role in chemoresistance
  

7:04 am Micrel announce postponement of 2015 annual meeting from June 19, 2015 to August 4, 2015 (MCRL) : The postponement will allow the Board and the Company's management to further evaluate the Company's strategic alternatives. On January 20, 2015, the Company announced that its Board of Directors decided to undertake a comprehensive review of strategic alternatives to enhance value for shareholders.

7:03 am Northern Oil & Gas amends covenant amendments to its revolving credit facility (NOG) : Co's bank syndicate group reaffirmed and maintained the existing $550 million borrowing base under Northern's revolving credit facility during the semi-annual redetermination period.

• In addition, the bank group agreed to amend certain financial covenants. 
• The 4.0x total debt to EBITDAX covenant was removed and replaced with a secured debt to EBITDAX ratio. 
• The new covenant requires Northern to maintain a ratio of secured debt to EBITDAX of no greater than 2.5 to 1.0.
  

7:02 am Trina Solar announces module supply agreement to supply 116 mw modules to Japan's largest solar power project (TSL) :

• Co announced it signed a module supply agreement with Toyo Engineering Corporation to supply ~116 MW high efficiency modules to the largest solar power project in Japan, an ~231-megawatt facility to be built in Setouchi City, Okayama Prefecture.
  

7:02 am Rentrak announces a TV measurement agreement with Gannett Television's WUSA9 in Washington, D.C. (RENT) : Co has signed a multi-year TV measurement agreement with WUSA9, the Gannett-owned CBS-affiliate in Washington, D.C. WUSA9 will utilize Rentrak's massive and passive measurement currency, including Rentrak's single-source Advanced Automotive and Political ratings

7:02 am First Majestic Silver: Q1 Silver production fell 4% YoY; total production +8% (AG) : Q1 total production +8% to 3.91 mln oz (silver equivalent); silver production -4% to 2.78 mln oz; lead +31%

7:02 am Rovi files definitive proxy materials for annual meeting to be held on May 13, 2015; sends letter recommending stockholders vote for its seven director nominees (ROVI) : The board is in a proxy fight with Engaged Capital.

7:01 am Akers Biosciences announces six new distributors to market its rapid tests for heparin-induced thrombocytopenia in additional countries within Europe, the Middle East and Africa (AKER) : The Company has signed multi-year distribution agreements with Pathway Diagnostics, covering Great Britain; ACCUSCIENCE Ireland Ltd, covering Ireland and Northern Ireland; Tokra Medikal Tic Ltd Sti, covering Turkey; LabPro d.o.o, covering Serbia, Montenegro, Macedonia, Bosnia and Herzegovina; AVL Sofia Ltd, covering Bulgaria; and MASTERLAB SARL, covering Morocco.

7:01 am Commerce Bancshares beats by $0.03 (CBSH) : Reports Q1 (Mar) earnings of $0.61 per share, $0.03 better than the Capital IQ Consensus Estimate of $0.58.

• "Average loans grew by $142 million, or 5% annualized, this quarter compared to the previous quarter, with most of this growth occurring in business and automobile lending. Average deposits also grew by $279 million, an annualized increase of 6.0%. This quarter our net interest margin was relatively stable, exclusive of the decline in earnings on our inflation-protected securities. Fee income was up 4% over the previous year as trust fee income grew 11% while brokerage and swap fees also experienced solid growth. Our new mortgage banking initiative, which began this quarter, also generated good growth in new fees. Non-interest expense decreased $6.3 million from the previous quarter and was up 1% compared with the prior year."
  

7:01 am Fortuna Silver Mines reports Q1 production of 1.6 mln ounces of silver and 9,739 ounces of gold; on schedule to produce 6.5 mln ounces of silver and 35.3K ounces of gold in 2015 (FSM) : Co announced first quarter 2015 production figures from its two operating mines in Latin America, the San Jose Mine in Mexico and the Caylloma Mine in Peru.

• The company produced 1.6 million ounces of silver, 9,739 ounces of gold plus base metal by-products. 
• Fortuna is on schedule to produce 6.5 million ounces of silver and 35.3 thousand ounces of gold or 8.6 million Ag Eq ounces in 2015.
  

7:00 am Asian Markets Close: Japan's Nikkei flat; Hong Kong's Hang Seng +2.7%; China's Shanghai Composite +2.2% (:SUMRX) :

• Markets in the Asia-Pacific region finished mostly higher on Monday. Hong Kong's Hang Seng Index and China's Shanghai Composite continued their bull runs, rallying 2.7% and 2.2%, respectively in the face of weaker than expected trade data out of China. The latter reportedly left traders inclined to think further policy stimulus will be provided.
  

Economic data

• Japan
• February Core Machinery Orders -0.4% month-over-month (expected -2.8%; prior -1.7%); +5.9% year-over-year (expected +3.7%; prior +1.9%) 
• M2 Money Stock +3.6% year-over-year (expected +3.6%; prior +3.5%)
• China
• March Trade Balance $3.08 bln (expected $45.4 bln; prior $60.6 bln)
• Exports -15.0% year-over-year (expected +12.0%; prior +48.3%)
• Imports -12.7% year-over-year (expected -11.7%; prior -20.5%)
• South Korea
• March Export Price Index -6.8% year-over-year (prior -8.1%)
• March Import Price Index -17.1% year-over-year (prior -17.8%)

Equity Markets

• Japan's Nikkei drifted through Monday's trade and ended basically flat for the session. Gains in the communications (+0.9%) and energy (+0.3%) sectors were offset by weakness in the financial (-0.8%) and consumer non-cyclical (-0.8%) sectors. Nippon Electric Glass Co (+17.7%) and Mitsumi Electric Co (+7.2%) led all gainers while Kikkoman Corp (-3.6%) and Tokyo Gas Co (-3.5%) paced the losers. Out of the 225 index members 95 finished higher, 118 ended lower, and 12 were unchanged.
• Hong Kong's Hang Seng surged another 2.7% and closed at its high for the session. The Hang Seng has soared a little over 3500 points, or 14.4%, over its last eight trading sessions with mainland investors helping to power the move. Monday's advance was led by the financial (+4.5%) sector. Hong Kong Exchanges and Clearing (+19.4%), Kunlun Energy Corp (+11.5%), Bank of China (+8.6%), and China Construction Bank (+7.8%) topped the list of winners. Out of the 50 index members, 30 ended higher, 15 closed lower, and 5 were unchanged.
• China's Shanghai Composite jumped 2.2% in the wake of weaker than expected trade data for March, which fueled a trade based on the notion that further policy stimulus will be provided. The consumer non-cyclical (+2.5%) and industrial (+2.4%) sectors led the Chinese market. Over its last eight trading session, the Shanghai Composite has tacked on 374 points or 10%.
• India's Sensex increased 0.6% ahead of the country's Consumer Price Index report for March. Gains were paced by the industrial (+2.4%) and energy (+1.5%) sectors. Individual standouts included Bharat Heavy Electricals (+3.4%), Bharti Airtel (+3.3%), and Sun Pharmaceutical Industries (+2.8%).
• Australia's S&P/ASX 200 declined 0.1% with miners weighing on the proceeding amid continued concerns about weak iron ore prices. The metals and mining sector (-1.8%) sector was the weakest area, followed by materials (-1.4%) and resources (-1.1%).
• Regional advancers: Taiwan +0.5%, South Korea +0.5%, Singapore +0.4%, Vietnam +1.0%
• Regional decliners: Malaysia -0.1%, Indonesia -0.8%, Philippines -0.7%
• Closed for holiday: Thailand (Songkran Festival)

FX

• USD/CNY +0.1% at 6.2147
• USD/INR +0.3% at 62.483
• USD/JPY +0.4% at 120.64
  

6:59 am Laredo Petroleum announces business updates; announced Q1 preliminary production volumes of 4.27 million barrels of oil equivalent (LPI) : Co announced preliminary production volumes of 4.27 million barrels of oil equivalent ("MMBOE") for the first quarter of 2015, a Company record and an increase of approximately 47% from first-quarter 2014.

• Co also updated production guidance for full-year 2015 to a range of 15.6 MMBOE to 16.0 MMBOE, an expected increase of approximately 13% to 16% from 2014
  

6:46 am Blackstone Mortgage Trust commences offering of 17.5 mln shares of its Class A common stock (BXMT) :

• The Company intends to use the net proceeds from the offering to pay for a portion of the purchase price for its proposed acquisition of a portfolio of commercial mortgage loans from GE Capital Real Estate, and for working capital and other general corporate purposes.
  

6:45 am Perrigo: Mylan (MYL) announced it has notified Perrigo of an HSR filing with regards to its cash-and-stock proposed acquisition of the co on April 6,2015 (PRGO) :  

6:43 am Bellerophon Therapeutics discloses INOpulse for PH-COPD preliminary results from its exploratory clinical study (BLPH) : The study was conducted to assess the effect of pulsed inhaled nitric oxide using high resolution computed tomography in subjects with pulmonary hypertension associated with chronic obstructive pulmonary disease.

• The primary endpoint in the study was the change from baseline in blood volume of each lobe of patients' lungs after dosing with INOpulse using a 30 mcg/kg IBW/hr, or 30 mcg, dose as measured by HRCT. 
• Safety endpoints of the study included device deficiencies, elevated methemoglobin levels, signs of rebound pulmonary hypertension, left heart failure or pulmonary edema and any clinically significant decrease in blood oxygenation levels of arterial blood measured by pulse oximetry. 
  
• The results of this exploratory study show a statistically significant correlation between ventilation and vasodilation after treatment with INOpulse, indicating that the lobes of the lungs with better ventilation were likely to experience more vasodilation when treated with the 30 mcg dose of INOpulse as compared to LTOT and room air. 
• In addition, comparing changes in vasodilation and ventilation between the test and retest without the INOpulse dose showed no correlation (p = 0.476 and O2 = 0.02), suggesting that the increased vasodilation was caused by the INOpulse dose rather than measurement variations. 
• Evaluation of the safety parameters indicated no significant adverse events including no change in blood oxygenation levels as measured by pulse oximetry

6:31 am Alamos Gold and AuRico Gold (AUQ) to combine; AGI holders receive 1 MergeCo share and US$0.0001 in cash; holders of AUQ shares will receive 0.5046 MergeCo shares (AGI) : Alamos Gold (AGI) and AuRico Gold (AUQ) entered into a definitive agreement to combine.

• The transaction is structured as a merger of equals with a transaction equity value of approximately US$1.5 billion. 
• Under the terms of the Merger, holders of Alamos shares will receive, for each share held, 1 MergeCo share and US$0.0001 in cash, and holders of AuRico shares will receive, for each share held, 0.5046 MergeCo shares. 
• Upon completion of the Merger, former Alamos and AuRico shareholders will each own approximately 50% of MergeCo (named Alamos Gold Inc.). 
  

6:29 am On the Wires (:WIRES) :

• Ascent Solar Technologies (ASTI) announced it has begun supplying PV for the solar wings of their vehicles as SFUAS is preparing for the production runs to fill its first commercial orders of the Silent Falcon vehicle.
  
• Bottomline Technologies (EPAY) announced it has launched a patient privacy and data security solution called the Bottomline Healthcare Privacy and Data Security solution
  
• Intercept Pharmaceuticals (ICPT) announced today that several abstracts evaluating obeticholic acid (:OCA) in patients with primary biliary cirrhosis (:PBC) and nonalcoholic steatohepatitis will be presented at the International Liver Congress 2015, the 50th Annual Meeting of the European Association for the Study of the Liver (:EASL), being held in Vienna, Austria, from April 22-26, 2015
  
• Viad Corp (VVI) announced that it has entered into an agreement with a group of investors represented by JCP Investment Partnership, LP to appoint Joshua E. Schechter, a representative of the group, to its Board of Directors, effective immediately. Mr. Schechter is also being appointed to the Corporate Governance and Nominating Committee of the Viad Board.
  

6:29 am Statoil ASA announces new gas discovery in the Aasta Hansteen region (STO) : Operator Statoil has together with PL602 partners made a gas discovery in the Roald Rygg prospect in the Norwegian Sea. This is the second Statoil discovery in the Aasta Hansteen area this spring.

• The well 6706/12-3, drilled by the Transocean Spitsbergen rig in the Roald Rygg prospect, proved a 38-metre gas column in the Nise Formation with very good reservoir quality. Statoil estimates the volumes in Roald Rygg to be in the range of 12-44 million barrels of recoverable oil equivalent. 
• The estimated total volumes in the two discoveries correspond to about 25% of the Aasta Hansteen recoverable volumes. 
• The plan for development and operations was approved by the Norwegian Ministry of Petroleum and Energy in 2013. Production start-up is expected in 2017.
  

6:14 am Ur-Energy announces 1Q15 operational results (URG) : For a sixth straight quarter, the Company's Lost Creek Project made sales to meet its contractual commitments. This included product sales of 146,000 pounds U3O8, which were sold at an average price of $50.55 per pound. Quarterly product sales revenues totaled $7.4 million.

• During the quarter, the exploration team initiated an exploration drill program south of the production area for which results are currently being analyzed. Thus far, the program has included 91 holes, of which 34 holes encountered uranium intercepts with either strong mineralization or what the Company characterizes within its technical reports specific to the property as "ore-quality." 
• The Q2 2015 production target for Lost Creek is 210,000 pounds U3O8 dried and drummed.
  

6:03 am Basic Energy Services announces March, 2015 operating data (BAS) :

• Basic's well servicing rig count remained unchanged at 421. Well servicing rig hours for the month were 56,000 producing a rig utilization rate of 55%, compared to 55% and 75% in February 2015 and March 2014, respectively. 
• Drilling rig days for the month were 186 producing a rig utilization of 50%, compared to 63% and 81% in February 2015 and March 2014, respectively
  

6:03 am Sears Hldg and Simon Property Group (SPG) announce a joint venture for 10 Sears Holdings properties (SHLD) : Sears Holdings has contributed 10 properties located at Simon malls to the JV, including property leased to outside parties. Sears Holdings will lease back from the JV and will continue to operate existing Sears Holdings stores at the properties contributed to the JV. Simon has contributed cash to the JV, and the lease arrangements between Sears Holdings and the JV provide the JV with the ability to re-develop the contributed properties and re-leasing space at each property to third-party tenants.

• The transaction values the properties contributed to the JV at $228 million in total. In exchange for $114 million and a 50% interest in the JV, Sears Holdings has contributed 10 of its properties located at Simon malls to the JV. 
• Simon contributed cash in the amount of $114 million in exchange for its 50% interest in the JV, which was then distributed to Sears Holdings
  

6:00 am Sagent Pharma announces the launch of a 10 gram offering of vancomycin hydrochloride for injection (SGNT) :  

5:49 am S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: -1.30. :

5:49 am European Markets : FTSE...7064.43...+25.40...+0.40%.  DAX...12377.73...+3.00...+0.00%.

5:49 am Asian Markets : Nikkei...19905.46...-2.20...0.00%.  Hang Seng...28016.34...+744.00...+2.70%.

5:05 am On The Wires (:WIRES) :

• Stratasys (SSYS) introduced the industrial scale Objet1000 Plus 3D Production System which offers extra large print size and accelerated speeds for demanding manufacturing applications including aerospace, automotive, medical devices, and consumer products as well as for service bureaus and universities. 
• Platts, a division of McGraw Hill Financial (MHFI), and Shanxi Fenwei Energy Consulting Company have deepened their partnership to produce a new independent, editorially-assessed metallurgical coal price series for the Chinese domestic market.
• Mirth, a wholly owned subsidiary of Quality Systems (QSII) announced the launch of Mirth Care Enterprise, a comprehensive population health management suite that bridges the gap between population health management and individual patient care.
  

4:17 am On The Wires (:WIRES) :

• Orange (ORAN) Polska has selected Ericsson (ERIC) as its OSS transformation partner, signing a six-year deal whereby Ericsson will carry out the transformation and optimization of processes and information systems. 
• Southern California Gas Company, a regulated subsidiary of Sempra Energy (SRE), has joined with the Energy Department's National Renewable Energy Laboratory and the National Fuel Cell Research Center to launch demonstration projects to create and test a carbon-free, power-to-gas system for the first time ever in the U.S. The technology converts electricity into gaseous energy and could provide North America with a large-scale, cost-effective solution for storing excess energy produced from renewable sources. 
• UniCredit (UNCFF) has signed a three-year contract with Accenture (ACN), under which Accenture will provide a wide range of services to UniCredit's IT organization in Italy, Germany, Austria and the United Kingdom.

3:56 am Silver Standard provides Q1 2015 production results; exceeded gold production schedule at Marigold (SSRI) : Co provides its first quarter 2015 operational results, with record quarterly production at Pirquitas and another strong quarter at Marigold.

First Quarter 2015 Operating Highlights:

• Strong mine fundamentals at Pirquitas: Continued lower strip ratio and higher silver grade, along with sustained higher silver recoveries, led to strong quarterly silver production. 
• Achieved record quarterly production at Pirquitas: Record 2.7 million ounces of silver produced, 23% higher than the previous quarter, and 3.8 million pounds of zinc, on track to meet 2015 production guidance. 
• Increased material movement at Marigold: Daily material moved increased 3%, continuing the trend of more efficient mine operating performance. 
  
• Exceeded gold production schedule at Marigold: Produced 55,598 ounces of gold, on track to achieve 2015 production guidance. 
  

3:39 am Lake Share Gold reports cost performance in Q1/15 (LSG) : Co announced preliminary cash operating cost and all-in sustaining cost per ounce sold for the first quarter of 2015. Final numbers for these measures will be available on April 29, 2015 when the Company issues its full Q1/15 financial results.

• Cash operating cost per ounce sold for Q1/15 is estimated at $509 (including $27 per ounce for royalties), an 18% improvement from $623 per ounce in first quarter of 2014 and significantly better than the Company's full-year 2015 target range of $650 to $700 per ounce. 
• AISC per ounce sold in Q1/15 is estimated at $748 per ounce, an improvement of 22% from $960 in Q1/14 and well below the full-year 2015 target range of $950 to $1,000 per ounce. 
• Total production costs in Q1/15 are estimated at approximately $33.0 million compared to total production costs of $29.7 million in Q1/14 and a full-year 2015 target of $125.0 million.
  

3:33 am On The Wires (:WIRES) :

• Sprint (S) will transform forever the way customers buy or upgrade their mobile phones, tablets and other connected devices with the introduction of Sprint Direct 2 You. 
• Ericsson (ERIC) has been selected to provide the online video platform to the over-the-top and live TV subscription video-on-demand service, currently being developed by Bonnier Broadcasting, a business area within the Bonnier Group. 
• Ingersoll Rand (IR) debuted new innovations that advance the productivity, reliability and efficiency of compressed air and gas operations

3:25 am Hecla Mining reports preliminary first quarter 2015 production results of 2.9 million ounces of silver and 40,651 ounces of gold (HL) : Co announced preliminary production results for the first quarter 2015.

FIRST QUARTER 2015 HIGHLIGHTS (Comparisons to Q1 2014)

• Silver production of 2.9 million ounces, a 16% increase. 
  
• Gold production of 40,651 ounces, a 12% decrease. 
  
• Silver equivalent production of 8.7 million ounces, a 1% decrease.2 
  
• Lead production increased 3% and zinc production decreased 6%. 
  
• Cash and cash equivalents of approximately $194 million as of March 31, 2015. 
  

2:58 am On The Wires (:WIRES) :

• Microsoft (MSFT) announced their collaboration to bring innovative operational excellence to manufacturing with the help of Fujitsu devices powered by Windows 8.1 Pro, the Internet of Things services of FUJITSU Cloud A5 for Microsoft Azure, and the Fujitsu IoT/M2M (machine-to-machine) platform. 
• Grass Valley, a Belden Brand, and Cisco (CSCO) are collaborating on broadcast's new IP future with a live demonstration of Grass Valley's remote IP production workflow, leveraging SMPTE 2022-6
• Rio Tinto (RIO) will move to a ground breaking information systems and technology delivery model, partnering with Accenture (ACN) to shape and deliver the transformation. The new model will migrate core enterprise IS&T systems to an "As-a-Service" solution based in the cloud. It also incorporates consumption based pricing to ensure costs are fully flexible and in line with business demand.

2:42 am On The Wires (:WIRES) :

• Copart (CPRT) announced the opening of its second facility in the Middle East, Copart Bahrain Auctions W.L.L. This facility will open in Manama, Bahrain, on April 12, 2015, with auctions taking place every Sunday at 5 p.m. local time.
• SolarWinds (SWI) announced it will be hosting a joint channel partner event with Spire Solutions, a leader in value-added product distribution in the Middle East, in Dubai on April 12, 2015.
• Miele & Cie. KG announced a proof-of-concept study based on Microsoft (MSFT) Azure Internet of Things services that will help usher in the next generation of smart appliances and home cooking. The concept will allow home users to program their ovens to ensure their meals will come out perfectly cooked, providing an exceptional customer experience.

2:29 am Novartis reports Gilenya data at AAN to highlight Novartis leadership in innovation with new MS assessment methods to benefit patients and physicians (NVS) : Novartis announced new Gilenya analyses to be presented at the 67th American Academy of Neurology Annual Meeting in Washington, DC, USA from April 18-25, 2015, showing how Novartis is advancing methods assessing the impact of relapsing multiple sclerosis for patients and physicians.

• Data will show how adding brain shrinkage (brain volume loss) to an existing tool to assess MS disease activity will give a more precise prediction of the likelihood of future disability progression. 
• Accurate assessment of disease activity is key to guide treatment decisions in RMS. A pooled analysis from the two-year phase III FREEDOMS and FREEDOMS II trials will further confirm Gilenya's high efficacy in previously-treated patients with highly-active RMS in achieving 'no evidence of disease activity' across four key measures: relapses, MRI lesions, brain shrinkage and disability progression. 
• Achieving NEDA4 is especially critical for highly-active RMS patients, who are likely to lose more physical and cognitive functions over time despite being treated.
  

2:24 am Avid Tech enters into a definitive agreement to acquire Orad Hi-Tec Systems for EUR5.67 per share (AVID) : Avid announced that it has signed a definitive agreement to acquire Orad Hi-Tec Systems for 5.67 per share in an all-cash transaction. Orad is a provider of state-of-the-art 3D real-time graphics, video servers and related asset management solutions. 
Transaction Highlights

• Avid expects that the combined company will further Avid's position as the most comprehensive provider of content creation to distribution workflows for broadcast and media customers around the world. 
• Avid believes the addition of Orad's products to the Avid platform will further enhance the value of the platform to Avid customers. 
• Joining the larger Avid organization opens opportunities for Orad to gain operating efficiencies and to make the innovation investments most important to Orad customers. 
• Avid expects the transaction to be accretive on an Adjusted EBITDA and cash flow basis, and will be financed by a new $100 million senior subordinated credit facility. 

2:00 am Ur-Energy President and CEO Wayne Heili, to depart the company (URG) : Co announced Wayne Heili, its President and CEO, will be departing the Company. Current Board Chair and Executive Director, Jeffrey Klenda, will assume the role of acting Chief Executive Officer.

1:31 am On The Wires (:WIRES) :

• Operators at PPL's (PPL) Susquehanna nuclear power plant disconnected the Unit 2 reactor from the electrical grid late Friday (4/10) to begin a scheduled refueling and maintenance outage. 
• Avid (AVID) announced another important milestone and continued momentum of The Avid Advantage, the company's transformation of service delivery in the media industry. Co also introduced the flagship Avid VENUE | S6L live sound mixing system
• Harmonic (HLIT) announced the launch of the Spectrum X next-generation media server system that elevates the industry's most trusted server platform to new levels of flexibility, efficiency and reliability.

12:59 am PPL Corp request for transfer of Susquehanna Nuclear Plant licenses approved by Nuclear Regulatory Commission (PPL) : The U.S. Nuclear Regulatory Commission on Friday approved PPL Susquehanna's request for indirect transfer of control of the operating licenses for both units at the Susquehanna nuclear power plant. The decision is associated with PPL Corporation's proposal to spin off its competitive energy supply business and combine it with competitive generation assets owned by Riverstone Holdings LLC affiliate RJS Power Holdings LLC to form a new independent power producer called Talen Energy Corporation.

• After extensive review of PPL Susquehanna's filing, the NRC determined that the transfer will not adversely affect the technical or financial qualifications to operate the plant, or the assurance of funding for eventual decommissioning of the plant, and will not result in foreign ownership or control of the plant.
• When the spinoff transaction occurs, the name of the company holding the plant licenses will change from PPL Susquehanna LLC to Susquehanna Nuclear LLC, but the owner/operator arrangement will not change. Susquehanna Nuclear will operate the plant, which will continue to be jointly owned by Susquehanna Nuclear and Allegheny Electric Cooperative.

12:55 am Aetrium receives Nasdaq Notification Letter (ATRM) : Co announced today that it received a notification letter from the Listing Qualifications Department of The NASDAQ Stock Market. The letter stated that the Company is not in compliance with Nasdaq's Rule 5250(c)(1) for continued listing because the Company has not yet filed with the Securities and Exchange Commission its Annual Report on Form 10-K for the period ended December 31, 2014, and the Company's Quarterly Report on Form 10-Q for the period ended September 30, 2014.

12:52 am NuStar Energy and PMI announced an expansion and extension of an existing agreement to transport and store naphtha (NS) : NuStar Energy and PMI, an affiliate of Petrleos Mexicanos, announced that the companies have expanded operations in which NuStar transports and stores naphtha, a gasoline blending component, for PMI. Under the terms of the 10-year agreement, which extends a previous 10-year agreement between the two companies that went into effect in 2005, naphtha produced at Pemex's Reynosa-Burgos Complex in northern Mexico is transported via the NuStar Burgos-Valley pipeline system to NuStar's terminal in Edinburg, Texas. The agreement and related capital investment provides a more efficient, safe and economical method of delivery as it replaces truck deliveries that were moving the naphtha from Mexico to Brownsville.