5:40 pm Worthington to supply composite hydrogen cylinders (WOR) :

• Co announces that its Alternative Fuels business has signed a multi-year contract with Teijin Engineering to supply Type 3, composite hydrogen cylinders to a major Japanese automotive OEM, to be used on a new hydrogen fuel cell vehicle. This exclusive agreement with Teijin Engineering of Osaka, Japan, will be to supply cylinders for automobiles in the Japanese market in early 2016 and later in the U.S.

5:39 pm Entergy Louisiana will redeem $32 mln principal amount of its outstanding First Mortgage Bonds, 6% Series due March 15, 2040 (ETR) :  

5:33 pm ITC Holdings announces review of strategic alternatives (ITC) : Co announces that the Company's Board of Directors has commenced a review of the Company's strategic alternatives. This review may result in the Company's possible sale or pursuit of other initiatives to maximize value for shareholders.

5:30 pm Thermo Fisher prices offering of $450 mln aggregate principal amount of 2.150% senior notes due 2018 (TMO) :

• Co priced an offering of $450 million aggregate principal amount of 2.150% senior notes due 2018 at an issue price of 99.997% of the principal amount and $350 million aggregate principal amount of 3.650% senior notes due 2025 at an issue price of 99.858% of the principal amount.

5:27 pm Blueknight Energy announces it is extending the binding open season for its Oklahoma Condensate Pipeline until Dec. 18 (BKEP) :  

5:23 pm Empresas ICA enters into the 30-day grace period with respect to the ~$31 mln interest payment on its 8.875% senior notes due 2024 (ICA) :  

5:20 pm Thompson Creek Metals announces November daily mill throughput at Mount Milligan Mine averaged 52,457 tonnes (TC) :

• Co announces that from November 1 -- 28, 2015, daily mill throughput at Mount Milligan Mine averaged 52,457 tonnes, with a high on November 25 of 61,579 tonnes. This represents a significant improvement compared to the average daily mill throughput of 44,077 tonnes during the third quarter of 2015.
• During the period November 24 -- 28, average daily mill throughput was 59,066 tonnes

5:16 pm Renewable Energy announces support for increased US biomass-based diesel volumes announced today by the EPA (REGI) :

• Under the final Renewable Volume Obligation (:RVO) rule issued by EPA, the minimum standard for biomass-based diesel will grow over the next two years from 1.73 bln gallons in 2015 to 1.90 bln gallons in 2016 and 2.00 bln gallons in 2017.
• The 2015, 2016 and 2017 volumes represent increases from the EPA's proposed rule. The agency also retroactively finalized the volume for 2014 at 1.63 bln gallons. Additionally, the minimum standard for the advanced biofuel category under the final RVO is 2.88 bln ethanol-equivalent RINS for 2015 and 3.61 bln ethanol-equivalent RINS for 2016.

5:14 pm Avalon Rare Metals is continuing to work towards completing a Preliminary Economic Analysis on the East Kemptville Project; timeline has proven to be unrealistic (AVL) :

• Co is continuing to work towards completing a Preliminary Economic Analysis on the East Kemptville Project. While the Company had originally targeted having a PEA completed by the end of November, that timeline has proven to be unrealistic. The Company now plans to have a PEA completed in early calendar 2016 which will allow for the 2015 drilling data to be compiled and integrated into an updated resource estimate.   It will also allow more time for completion of ongoing metallurgical testwork and finalization of the transfer of surface tenure at the site to Avalon.
  

5:13 pm Rambus: LG Electronics to license RMBS cryptography research's Cryptomanager security platform (RMBS) :

• Co announces that LG Electronics licensed the CryptoManager security platform for its next-gen mobile devices.

4:58 pm VSE Corp announces it received $59 mln in new awards (VSEC) :

• Co reports that several awards received from October 1, 2015 to date totaling ~$59 mln.

4:34 pm Market Internals (:MKTIN) :

S&P500 down to 2080 (-0.46%). Dow down to 17720 (-0.44%). Nasdaq down to 5109 (-0.37%). Action came on higherthan average volume (NYSE 1332 mln vs. avg. of 935; NASDAQ 2236 mln vs.avg. of 1903), with decliners outpacing advancers (NYSE 1382/1766,NASDAQ 1346/1531) and new highs outpacing new lows (NYSE 98/63,NASDAQ 132/50).

Relative Strength:

Gold Miners -GDX +2.08%, Oil Services -OIH +1.449%, Teucrium Corn ETV-CORN +1.29%, Semiconductor ET-SMH +1.11%, China Large-Cap -FXI +1.097%, Sweden -EWD +1.07%, S&P Metals & Mining -XME +1%, Thailand Capped In-THD +0.93%, Bank Plc iPath ETNs li-INP +0.84%, Global X Colombia -GXG +0.81%

Relative Weakness:

United States Diesel Heating Oi-UHN -5.55%, Coffee Sub-JO -4.03%, Rare Earth Strat-REMX -3.64%, Brazilian Real Strat-BZF -2.98%, Cotton Sub-BAL -2.3%, S&P Retail -XRT -2.24%, S&P Retail -XRT -2.24%, Global X FTSE Greece 20 -GREK -1.91%, Latin America 40 -ILF -1.865%, Indonesia -IDX -1.65%

4:33 pm Watts Water Tech. completes the acquisition of an 80% interest in Apex Valves Limited for $22 mln ; with a commitment to purchase the remaining 20% within three years of closing (WTS) :  

4:32 pm Kinder Morgan and Brookfield Infrastructure Partners (BIP) jointly acquire remaining 53% equity interest in Natural Gas Pipeline Company of America LLC for ~$242 mln; expected to be immediately accretive to KMI's cash available to pay dividends (KMI) :

Kinder Morgan (KMI) and Brookfield Infrastructure Partners (BIP) announced a definitive agreement whereby they will jointly acquire, from Myria Holdings, Inc., the 53% equity interest in Natural Gas Pipeline Company of America LLC not already owned by them for a total purchase price of ~$242 mln.

• KMI will pay ~$136 mln and increase its ownership interest from 20% to 50%, and Brookfield Infrastructure will pay ~$106 mln and increase its ownership from ~27% to 50%.
• The transaction is expected to close later this year.
• KMI will continue to operate NGPL, and expects that the transaction will be immediately accretive to KMI's cash available to pay dividends.

4:31 pm Allscripts Healthcare announces $150 mln share repurchase program (MDRX) :

• Allscripts Healthcare Solutions announced today that its Board of Directors approved a share repurchase program under which Allscripts may purchase up to $150 million of its common stock through Dec 31, 2018.
• Based on the Nov 30, 2015, closing price, ~9.8 million shares, or 5.2 percent of the co's outstanding shares as of Oct 30, 2015, could be repurchased.

4:31 pm Chemours announces the next steps in its transformation plan; includes a 5% global workforce reduction and the planned closure of its Reactive Metals Solutions business (CC) :

Co announced three actions its has deemed as integral to the company's transformation plan. It announced a global workforce reduction of approximately 400 positions, approximately 5 percent of its total employee and contractor base. The action is part of ongoing efforts to streamline and simplify the structure of the organization worldwide and to reduce costs. As a result of these actions, the company will incur a charge of approximately $45 million in the fourth quarter of 2015. The headcount reduction, expected to be completed during 2016, will affect business lines and functions and is estimated to save the company approximately $50 million annually.

• The company also completed the strategic review of its Reactive Metals Solutions (:RMS) business and decided to stop production at its Niagara Falls, N.Y. site by the end of December 2016. In the fourth quarter of 2015, the company will incur cash charges of approximately $17 million for employee-related charges, contract termination, and removal costs. Additional restructuring and other charges related to decommissioning and site redevelopment are expected to be in the range of $10 million to $15 million and will be incurred during the next two to three years.
• As part of its portfolio optimization work, Chemours also announced its continued commitment to the company's Belle, W.Va. manufacturing location, which is the site of its methylamines business.

4:29 pm AmSurg announces public offering of 5.5 mln shares of common stock (AMSG) : Co intends to use the net proceeds from the offering to repay outstanding indebtedness under its revolving credit facility borrowed to fund its recent acquisitions, to fund a portion of the ~$500 mln of acquisition opportunities in its pipeline that are under letter of intent and targeted to close between now and the end of 1Q16 and for other general corporate purposes.

4:26 pm Acorn Intl to hold conference call for investors to provide business update Tuesday December 1 2015 at 8:30am ET (ATV) :  

4:23 pm Harvard Apparatus Regenerative Tech announces it has regained compliance with the Nasdaq minimum price bid rule (HART) :  

4:20 pm UnitedHealth reaffirms FY15 and FY16 adj. EPS guidance; sees FY16 sales just below consensus (UNH) :

• Co reaffirms guidance for FY15 (Dec), sees EPS of $6.00 vs. $6.08 Capital IQ Consensus Estimate.
• Co issues guidance for FY16 (Dec), reaffirms EPS of $7.10-7.30 vs. $7.20 Capital IQ Consensus Estimate; sees FY16 (Dec) revs of $180-181 bln vs. $182.28 bln Capital IQ Consensus Estimate.

4:19 pm Ares Management forms an equity partnership with a subsidiary of Toyota's (TM) Toyota Tsusho Corp. subsidiary, to contruct a greenfield 700-MW natural gas-fired facility in New Carlisle, Indiana (ARES) :  

4:18 pm Thor Industries beats by $0.14, beats on revs (THO) :

• Reports Q1 (Oct) earnings of $0.97 per share, $0.14 better than the Capital IQ Consensus of $0.83; revenues rose 11.7% year/year to $1.03 bln vs the $1.01 bln Capital IQ Consensus. Gross profit margins increased to 14.8% in the first quarter compared to 12.8% in the prior-year period.

4:17 pm Boston Scientific receives FDA approval and CE Mark for its the AngioJet ZelanteDVT thrombectomy catheter to treat deep vein thrombosis (BSX) :  

4:16 pm Mattress Firm (halted) acquires Sleepy's, the nations second largest mattress retailer, an accretive deal; guides Q3 above consensus; reaffirms FY16 guidance (MFRM) :

• Co will acquire all of the outstanding equity interests in HMK Mattress Holdings LLC, the holding company of Sleepy's and related entities. The aggregate purchase price is $780 million, subject to working capital and other customary adjustments.
  • Sleepy's is the nation's second largest specialty mattress retailer, with over 1,050 stores in 17 states in the Northeast, New England, the Mid-Atlantic and Illinois.
  • Estimated to achieve low single-digit EPS accretion in year one, growing to double-digit Adjusted EPS accretion by the third year post-closing, excluding one-time costs.
  • Will operate ~3,500 stores; pro forma sales of over $3.6 billion over the last twelve months
  • Adam Blank, the current chief operating officer and general counsel of Sleepy's, will join the Mattress Firm executive management team and will contribute up to $10 million of the equity value he holds in Sleepy's in exchange for shares of Mattress Firm common stock.
  • The Company expects to generate annual synergies of ~$40 million by the third year post-closing.
• Sees Q3 adj. EPS $0.80-0.82 vs $0.77 Capital IQ Consensus Estimate; revs +51% to $699.5 mln vs $647.46 mln Capital IQ Consensus; comps +3.8%.
• Reaffirms FY16 $2.33-2.42 vs $2.37 Capital IQ Consensus Estimate; sees revs $2530-2550 mln vs $2.53 bln Capital IQ ConsensuS.
• Co will report on Dec 7.

4:16 pm Numerex Corp. appoints Sridhar Ramachandran as its Chief Technology Officer; will assume full time responsibilities on January 4, 2016 (NMRX) :

Co names Sridhar 'Sri' Ramachandran as its new Chief Technology Officer. Sri will assume this position immediately on a part-time basis and then begin full time on January 4, 2016. Sri will be responsible for driving the company's technology strategy with a focus on product development and engineering execution. Sri is a technology veteran with several decades of experience in the communication and IoT markets, bringing to Numerex deep industry experience in IP and mobile communications.

4:16 pm Molina Healthcare acquires certain assets of Better Health Network's Medicaid business in Illinois; terms not disclosed (MOH) : As a part of the transaction, Molina Healthcare of Illinois will receive the right to transition Better Health's Medicaid members in Cook County and assume certain assets related to the operation of the Medicaid business. Transaction expected to close in 2Q16.

4:15 pm Sunshine Heart announces the departure of CEO David Rosa (SSH) : Co announces that its Chief Executive Officer, David Rosa is leaving the company, effective November 30, 2015. John Erb, Chairman of the Board of Directors of Sunshine Heart, has been named Interim Chief Executive Officer and President and will continue to serve as Chairman of the Board.

• In connection with the appointment of Mr. Erb as Interim Chief Executive Officer and President, the Board of Directors also appointed current board member, Gregory Waller, to replace Mr. Erb on the Compensation Committee and current board member, Paul Buckman, to serve as lead independent director and replace Mr. Erb on the Audit Committee.
• The Board of Directors has commenced the search for a permanent successor to Mr. Rosa.
  

4:15 pm Infoblox beats by $0.07, beats on revs; guides Q2 EPS above consensus, revs above consensus; guides FY16 revs above consensus; announces $100 mln share repurchase (BLOX) :

• Reports Q1 (Oct) earnings of $0.13 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus of $0.06; revenues rose 40.9% year/year to $94 mln vs the $87.62 mln Capital IQ Consensus.
• Co issues upside guidance for Q2, sees EPS of $0.12-0.14, excluding non-recurring items, vs. $0.07 Capital IQ Consensus Estimate; sees Q2 revs of $93-95 mln vs. $91.26 mln Capital IQ Consensus Estimate. Co sees Q2 Non-GAAP operating margin in the range of 12% to 14% and FY16 Non-GAAP operating margin in the range of 10% to 12%
• Co issues upside guidance for FY16, sees FY16 revs of $370-380 mln vs. $368.71 mln Capital IQ Consensus Estimate.
• Co also also announced that its board of directors has authorized a $100 million share repurchase program, with $50 million of that program expected to be executed as an accelerated share repurchase in the short term.
  

4:14 pm Karyopharm Therapeutics announces it will present clinical data for Selinexor, used to treat hematologic malignancies, at the ASH annual meeting on December 7th, 2015 (KPTI) :  

4:13 pm LifeLock announces a $100 mln share repurchase program (LOCK) : The repurchase program has no expiration date but is intended to be completed by year end 2016.

4:12 pm Ironwood Pharma and Astellas Pharma (ALPMY) announce that the Japanese Phase III clinical trial of linaclotide in adults with IBS met its primary endpoint (IRWD) : Co announced today that the Phase III clinical trial of linaclotide conducted in Japan in adults with irritable bowel syndrome with constipation (IBS-C) met its primary endpoints. Astellas expects to submit a new drug application to the Ministry of Health, Labor and Welfare in Japan in 2016. Top-line data from the Phase III trial in Japan indicate linaclotide-treated patients showed statistically significant improvement compared to placebo-treated patients for both of the two co-primary endpoints.

4:11 pm Puma Biotech. reports an update on its meeting with the European Medicines Agency; plans to submit a marketing authorisation application for Eratinib to treat HER2-positive early stage breast cancer (PBYI) : The data discussed with the EMA included non-clinical data (pharmacology, toxicology and carcinogenicity) and clinical trial data including the data from the Phase III trial of neratinib in the extended adjuvant treatment of HER2-positive early stage breast cancer (ExteNET trial). Upon review of this material, the EMA assessed that there were no critical concerns that would prevent Puma from submitting a complete MAA for European centralized review in support of neratinib for the extended adjuvant treatment of HER2-positive early stage breast cancer in patients who have previously been treated with a trastuzumab-containing regimen. Conference Call and Webcast

4:11 pm HF Financial Corporation: Great Western Bancorp (GWB) will acquire HF Financial Corp in cash and stock transaction valued at $19.70 per share or $139.5 mln in the aggregate (HFFC) :

• Under the terms of the Agreement, 75% of HF Financial's common stock will be converted into Great Western common stock and the remaining 25% will be exchanged for cash. HF Financial stockholders will have the option to elect to receive either 0.6500 shares of Great Western common stock or $19.50 in cash for each HF Financial common share, subject to proration to ensure that in the aggregate 75% of HF Financial shares will be converted into stock. The exchange ratio is fixed, and the transaction is expected to qualify as a tax-free exchange with respect to shares of HF Financial common stock that are exchanged for Great Western common stock.
• The transaction is expected to generate mid-single digit earnings per share accretion in the first full year after closing, an internal rate of return of more than 20%, minimal tangible book value per common share dilution and an earnback period of less than three years. Additionally, GWB's strong pro forma capital position will also support further growth.
• The Merger has been unanimously approved by the Board of Directors of both Great Western and Home Federal and is expected to close in the second quarter of 2016, subject to certain conditions, including the approval by Home Federal's stockholders and customary regulatory approvals. As is customary for GWB, the operations of HF Financial are expected to be fully integrated into GWB shortly after the transaction close date.

4:10 pm DCT Industrial Trust announces that President Jeff Phelan has resigned from his role, effective January 2, 2016 (DCT) : Phelan has decided to focus on his own investments and developments. Phelan will continue to work for the Company as a consultant throughout 2016. 

4:09 pm Nevro confirms that the USPTO has denied instituting an inter partes review of its '102 patent (NVRO) : Co announced that the Patent Trial and Appeals Board at the U.S. Patent and Trademark Office has denied instituting an inter partes review (:IPR) of U.S. Patent No. 8,359,102. On May 14, 2015, a unit of Boston Scientific Corporation (BSX) filed two petitions challenging the validity of certain claims of the '102 patent. In its written decision, however, the PTAB determined that Boston Scientific failed to establish a reasonable likelihood of showing that even one of the challenged claims of the '102 patent was invalid, and that therefore both petitions were denied.

4:08 pm Closing Market Summary: November Ends on Lower Note (:WRAPX) :

The stock market began the trading week on a modestly lower note with the S&P 500 surrendering 0.5% after spending the day in a 13-point range. Today's session marked the end of November, a month during which the S&P 500 added 0.1% while the Nasdaq Composite (+1.1% month-to-date) outperformed.

Equities held slim gains at the start of the trading day, but the early strength faded quickly, sending the S&P 500 below its flat line where the index remained into the afternoon. The S&P 500 tried to stage a rebound during afternoon action, but that move was followed by a slip to new lows. The benchmark index settled near its worst level of the day, masking gains in five of ten sectors.

For instance, energy (+0.4%) and technology (+0.1%) outperformed from the start, but their strength could not lift the overall market. The energy sector settled in the lead even though crude oil surrendered a solid intraday gain to end lower by 0.2% at $41.63/bbl. For the month, WTI crude tumbled 10.7% while the energy sector lost 0.8%.

As for technology, the top-weighted sector received support from chipmakers, evidenced by a 1.0% spike in the PHLX Semiconductor Index, which gained 2.2% for the month.

Similar to energy and technology, materials (+0.2%), utilities (+0.2%), and telecom services (+0.4%) posted gains, but it is worth noting that together the three sectors account for no more than 9.0% of the entire market.

On the downside, the health care sector (-1.3%) was pressured by daylong weakness in biotechnology as the iShares Nasdaq Biotechnology ETF (IBB 334.37, -6.64) surrendered 2.0%.

Elsewhere, consumer discretionary (-0.8%) and industrials (-0.7%) also struggled throughout the trading day. Retailers endured heavy selling amid reports of sluggish sales growth on Black Friday with SPDR S&P Retail ETF (XRT 44.57, -0.99) falling 2.2%. Even Target (TGT 72.51, -0.93) lost 1.3% despite making upbeat comments about the start of the holiday shopping season.

Staying in the discretionary space, Staples (SPLS 12.07, -0.24) ended lower by 2.0% after the New York Post reported the company's acquisition of Office Depot (ODP 6.59, -0.16) is likely to hit a regulatory road block.

Similar to stocks, Treasuries spent the day in a very narrow range. The 10-yr note held a modest loss during overnight action, but it ticked into the green in the morning to end on its high with the benchmark yield down one basis point at 2.21%.

On a separate note, the International Monetary Fund announced that China's yuan will be added to the special drawing rights basket, meaning five currencies will be represented in the SDR starting from October 1, 2016. Following the move, the yuan will make up almost 11.0% of the SDR, which is a smaller weighting than the currency had been expected to receive.

Today's intraday participation was very light, but a late surge in activity took place just before the closing bell to push the final NYSE floor volume above the 1.1 billion share mark.

Economic data included Chicago PMI and Pending Home Sales:

• The Chicago Purchasing Managers Index for November dipped to 48.7 from 56.2 in October while the Briefing.com consensus expected a reading of 55.0
  • New orders were largely responsible for the pullback as the related index fell to 44.1, its lowest level since March, from 59.4 in October
  • Other components saw little change with Employment and Supplier Deliveries holding above 50 while Order Backlogs have remained below 50 for the tenth consecutive month, which represents ongoing contraction
• Pending home sales for October rose 0.2% while the Briefing.com consensus expected an increase of 0.7%

Tomorrow, October Construction Spending (Briefing.com consensus 0.7%) and the November ISM Index (consensus 50.4) will both be released at 10:00 ET.

• Nasdaq Composite +7.9% YTD
• S&P 500 +1.1% YTD
• Dow Jones Industrial Average -0.6% YTD
• Russell 2000 -0.4% YTD

4:06 pm Wilson Greatbatch receives FDA approval for its Algovita Spinal Cord Stimulation System to treat chronic intractable pain of the trunk and/or limbs. (GB) : Co receives approval from the FDA for its Algovita Spinal Cord Stimulation System to treat chronic intractable pain of the trunk and/or limbs. "Algovita's approval not only supports the proposed Nuvectra spin-off, but the system brings to the U.S. market a robust and user-friendly device for patients suffering from chronic pain of the trunk and/or limbs." The Algovita SCS system is the first FDA-approved product developed by Greatbatch's QiG Group subsidiary. As previously disclosed, Greatbatch is in the process of finalizing the proposed spin-off of QiG Group, LLC, which will be renamed Nuvectra Corp. The proposed Nuvectra spin-off is expected to be completed in 1Q16.

4:06 pm Intercept Pharma initiates a Phase 1 study of INT-767 in healthy volunteers (ICPT) :

• Co announces the initiation of a Phase 1 study of INT-767, a dual farnesoid X receptor and TGR5 agonist, in healthy volunteers.

4:05 pm IMAX signs an agreement for 10 additional IMAX theatres in Japan (IMAX) : IMAX and Toho Cinemas, Japan's highest-grossing exhibition company and a subsidiary of Toho Co, announce an agreement for 10 additional IMAX theatres.

• Toho Cinemas now becomes one of IMAX's largest partners in Japan.
• The exhibitor's first IMAX theatre opened in April at the Toho Cinemas Shinjuku multiplex in downtown Tokyo. Since then, the site was Japan's highest-grossing IMAX theatre for Furious 7, Dragon Ball Z: Resurrection "F", Avengers: Age of Ultron, Mad Max: Fury Road and Jurassic World, which marked IMAX's highest-grossing opening weekend ever in Japan with a record-setting $1 million.

4:05 pm Whole Foods announces a $1 bln offering of 5.2% senior notes due 2025 (WFM) : Co announced the pricing of an issuance of $1.0 billion of 5.20% senior notes due 2025. The Notes will be guaranteed on an unsecured, unsubordinated basis by certain subsidiaries of Whole Foods Market. The Company intends to use net proceeds from the offering for general corporate purposes, including stock repurchases and the repayment of indebtedness from time to time. Closing of the offering is expected to occur on December 3, 2015

4:04 pm DHI Group enters a five-year $250 mln senior secured revolving credit facility scheduled to mature in November 2020. (DHX) :

• Co announces that it has entered into a five-year $250 million senior secured revolving credit facility scheduled to mature in November 2020. The new facility replaces the Company's previous facilities, which included a $50 million term loan facility and a $200 million revolving loan facility that were scheduled to mature in October 2018.

4:04 pm Shoe Carnival misses by $0.01, beats on revs; guides FY16 EPS below consensus, revs in-line (SCVL) :

• Reports Q3 (Oct) earnings of $0.47 per share, excluding non-recurring items, $0.01 worse than the Capital IQ Consensus of $0.48; revenues rose 5.9% year/year to $269.7 mln vs the $264.25 mln Capital IQ Consensus.
  • Comparable store sales increased 6.0 percent in the third quarter of fiscal 2015.
  • The gross profit margin for the third quarter of fiscal 2015 was 30.1 percent, which was unchanged compared to the third quarter of fiscal 2014. The merchandise margin decreased 0.7 percent. Buying, distribution and occupancy expenses decreased 0.7 percent as a percentage of sales.
• Co issues guidance for FY16, sees EPS of $1.38-1.43 vs. $1.44 Capital IQ Consensus Estimate; sees FY16 revs of $980-987 mln vs. $981.82 mln Capital IQ Consensus Estimate.

4:03 pm Canadian Natl Rail amends its share repurchase agreement with an un-named third party; max number of repurchased shares increased to 5.175 mln from 4 mln (CNI) :  

4:03 pm MEDNAX announces $500 mln private offering of senior notes due 2023 (MD) : Co announces that it is proposing to issue $500 mln of senior notes due 2023 in a private offering. Co intends to use the net proceeds to repay a portion of the indebtedness outstanding under its senior unsecured revolving credit facility and to make acquisitions and for general corporate purposes.

4:02 pm Nuance Communications announces $550 mln offering of Senior Convertible Debentures due 2035 (NUAN) :

Co intends to use ~$472 mln of the net proceeds from this offering to repay all outstanding term loans under its existing senior credit facility.

• Co intends to use cash on hand and remaining net proceeds to repurchase ~$200 mln of shares of its common stock concurrently with the pricing of the Debentures in negotiated transactions with institutional investors in the offering through one of the initial purchasers, as Co's agent, subject to availability, and to repurchase or refinance other existing debt.

4:02 pm NN Inc completes the divestiture of Delta Rubber; terms not disclosed (NNBR) :  

4:01 pm Dynavax announces it will present clinical data at the ASH Annual Meeting (DVAX) : The company will hold a presentation entitled: "Regulatory T Cells Are Depleted in Low-Grade Lymphoma By the Combination of Local Low-Dose Radiation Followed By Intratumoral CpG-ODN."

4:00 pm Peak Resorts acquires Hunter Mountain for $36.8 mln (SKIS) : Co enters into an agreement to purchase Hunter Mountain, the Catskills' premier winter resort destination, for cash consideration of $35 mln plus the assumption of two capital leases estimated at $1.8 mln. Hunter Mountain generates approximately $27 mln in annual revenue. The purchase price is slightly more than 6x adjusted EBITDA.

3:26 pm Market View: DJIA now -71 pts. back on session lows here in late trading; DIA now @ 117.18 -0.72 (-0.40%) (:TECHX) :  

3:15 pm Bristol-Myers confirms that the FDA has approved Empliciti for the treatment of multiple myeloma as combination therapy with Revlimid and Dexamethasone (BMY) :  

3:09 pm American Airlines: The union representing the co's employees approved a new five-year contract, including immediate pay raises (AAL) :  

3:01 pm Consumer Portfolio Serv enters into two year $100 mln revolving credit facility (CPSS) :  

2:58 pm Sequential Brands issues a statement with respect to the recent volatility in the company's stock price; attributes it to 'short sellers' (SQBG) :

• The firm's Chairman stated: "Tengram Capital Partners, as the largest shareholder of the Company, has been closely monitoring the significant decline in the Company's stock price and associated increase in trading volume. We believe this decline in stock price and related increase in volume is being driven primarily by short sellers. The Securities and Exchange Commission only permits this activity if the short sellers have access to shares that may be borrowed to cover their positions. What you may not know is that you, as a stockholder of the Company, may be facilitating the ability of these short sellers to create these positions by permitting your shares to be borrowed. Tengram has instructed its broker that it will not permit borrowing of any of its shares by short sellers who are only interested in reducing the value of the Company's stock price for their short-term gain. We urge each of you to contact your broker today and inform them that your shares may not be made available to be borrowed by short sellers."

2:52 pm Healthcare & Pharma- XLV, Cons. Staples- XLP, & Cons. Discretionary- XLY the 3 weakest performing SPX 500 sector ETFs here into today's final hour of trading (SPY) :

• SPX now @ 2085.54 -4.57 (-0.22%)

2:34 pm Caesarstone issues a statement urging shareholders to vote for its director nominees, calling the claims made by Kibbutz Sdot-Yam false (CSTE) : The company reiterated its belief that the Kibbutz's nominees will not act in the best interest of shareholders and that, in contrast, the company's nominees offer an appropriate combination of stability and innovation.

1:30 pm Market View: Seeing a decent midday counter-trend/recovery bounce in recent trade here with SPX now @ 2087.35 -2.76 well off session lows (:TECHX) :  

1:02 pm Neenah Paper approved 10% increase in cash dividend; new quarterly dividend of $0.33/share starts Q1 2016 (NP) :  

1:01 pm Sysorex Global announces it has been engaged by a Fortune 500 biopharmaceutical R&D firm to provide critical data infrastructure migration and upgrade services in a project valued at ~$1.2 mln (SYRX) :  

1:01 pm Arthur J. Gallagher acquires Reid Manson Limited; terms not disclosed (AJG) : Reid Manson is a retail insurance broker providing commercial, rural, property, and personal lines insurance services to middle-market and individual clients throughout South and Mid-Canterbury.

12:58 pm Midday Market Summary: Biotechnology and Discretionary Shares Weigh (:WRAPX) :

The major averages trade modestly lower at midday with the Nasdaq Composite (-0.4%) lurking behind the S&P 500 (-0.2%).

Equity indices began the final November session with slim gains, but the higher open was followed by a slide into the red. All things considered, today's affair has been very quiet with the S&P 500 maintaining a 12-point range through the early action, which puts the index on track to end the month higher by 0.3%.

The modest midday loss has masked gains in five sectors, including the energy space (+1.0%), which has held the lead since the opening bell. The sector has been underpinned by gains in the oil market as WTI crude trades higher by 0.3% at $41.85/bbl after being up more than 1.0% earlier.

Similar to energy, the technology sector (unch) was among the early leaders, but the top-weighted group has retreated from its high. Large cap components like Alphabet (GOOGL 762.63, -9.34) and Facebook (FB 103.99, -1.46) have contributed to the intraday pullback, masking a 0.5% gain in the PHLX Semiconductor Index.

The relative strength among chipmakers has not translated into gains for other high-beta groups as biotech names lag with the iShares Nasdaq Biotechnology ETF (IBB 333.39, -7.62) trading lower by 2.2%. Furthermore, biotechnology has kept the health care sector (-1.1%) under pressure since the opening bell.

Also of note, the consumer discretionary sector (-0.7%) has retreated behind retail names as the bunch reacts to reports of sluggish sales growth on Black Friday. To that point, the SPDR S&P Retail ETF (XRT 44.64, -0.92) trades down 2.0%.

Treasuries inched into the green during early morning action and they have held a modest gain since then with the 10-yr yield down one basis point at 2.21%.

Economic data included Chicago PMI and Pending Home Sales:

• The Chicago Purchasing Managers Index for November dipped to 48.7 from 56.2 in October while the Briefing.com consensus expected a reading of 55.0
  • New orders were responsible for the pullback as the related index fell to 44.1, its lowest level since March, from 59.4 in October
  • Other components saw little change with Employment and Supplier Deliveries holding above 50 while Order Backlogs have remained below 50 for the tenth consecutive month, which represents ongoing contraction
• Pending home sales for October rose 0.2% while the Briefing.com consensus expected an increase of 0.7%

12:28 pm Euronav sells its Suezmax Cap Laurent for $22.5 mln (EURN) : The capital gain on that sale of about USD 11.1 mln will be recorded in Q4. Following the sale, the availability of the revolver under the $750 mln facility was reduced by $11.5 mln. The vessel was delivered to its new owner on November 26, 2015.

12:10 pm Stein Mart authorizes 500K share repurchase (SMRT) : This authorization has no expiration date and is in addition to the 268,702 shares that remained available for repurchase as of November 24, 2015 under an existing authorization.

12:08 pm EVERTEC extends terms of acquisition of majority ownership of Processa (EVTC) : Co announces that its opearting subsidiary and the selling shareholders of Processa S.A.S agreed to extend the contractually agreed upon period for each of the parties to satisfy all conditions to closing before the purchase agreement becomes terminable for an additional 30 calendar days to December 28, 2015.

12:02 pm European Markets Closing Prices (:SUMRX) : European markets are now closed; stock markets across Europe performed as follows:

• UK's FTSE:-0.3%
• Germany's DAX:+0.8%
• France's CAC:+0.6%
• Spain's IBEX:+0.7%
• Portugal's PSI:-0.2%
• Italy's MIB Index:+0.6%
• Irish Ovrl Index:+0.5%
• Greece ASE General Index: -2.3%

11:50 am Market View: SPY, QQQ, DIA extending losses here approaching midday trading with SPX now -7.90, & DJIA now -68 pts. (:TECHX) :  

11:47 am J&J Snack Foods announces partnership with General Mills (GIS) to introduce Pillsbury Mini Pies (JJSF) :  

11:29 am Stocks/ETFs that traded to new 52 week highs/lows this session - New highs (173) outpacing new lows (71) (SCANX) : Stocks that traded to 52 week highs: AAAP, ABCB, ABTL, ACAS, ACXM, ADBE, AEGN, AFG, AFH, AHL, ALKS, ALLE, AMWD, AOS, AWR, AYI, BABY, BGS, BKCC, BOCH, BWXT, BXS, CASY, CBM, CBNJ, CBOE, CCRN, CHFC, CMN, CNCR, CORE, CPB, CRVL, CSC, CSFL, CUBE, CVI, DEA, DHIL, DPS, DSGX, EFII, EFX, EGHT, EIG, EME, EW, EXLS, EXR, EXTR, FBC, FCB, FCF, FFG, FIBK, FIVN, FIZZ, FMBI, FNBC, FPRX, FR, FRBK, FXCB, GABC, GDEN, GERN, GFF, GT, GVP, HFWA, HPY, HRL, IBCP, IBOC, IDTI, IHC, INST, INWK, IOSP, IT, JAXB, JBL, KCLI, KFY, KINS, KRNY, LANC, LAWS, LKFN, MAA, MANH, MBWM, MCBC, MDWD, MELR, METR, MGPI, MKC, MKTX, MLVF, MNST, MORE, MPWR, MRCY, MTN, NAII, NBBC, NBTB, NCTY, NHC, NSA, NTGR, NUTR, NVR, OME, OMI, ORMP, OSBC, PACEU, PBF, PE, PFBC, PLAB, POST, PPBI, PRTA, PSA, PSB, RENX, RNG, ROP, SASR, SBCF, SBNY, SFBS, SGBK, SHBI, SHOR, SKYY, SNA, SOCB, SPKE, SRI, STBA, STBZ, STL, STZ, TCBK, THFF, TLMR, TMP, TOWN, TOWR, TSN, TSS, TTC, TTS, UBSH, UDR, USLB, VGR, VNTV, VTN, WDFC, WFD, WK, WSFS, WTR, XLNX, XRS, XUE, YDKN, ZAGG 

Stocks that traded to 52 week lows: ARDM, ATV, BBL, BHP, BSPM, BTU, CAR, CCCR, CCO, CHCI, CIB, DAVE, DPW, DRAM, DTRM, DYN, ESBK, FDEU, FELP, FWM, GDEF, GDP, GLNG, GRAM, HERO, HKTV, HNP, HTBX, I, IRS, ISHG, KMF, LUK, MIL, NCQ, NRG, NVS, NWPX, OCIP, OIBR, PBA, PERF, PRGN, PRXI, PSTI, PTXP, PXS, QAT, QKLS, REE, ROSG, SMLR, SPCB, SPTN, SQBG, STV, SWN, TC, TGA, TLN, UNXL, USEG, UUUU, VALE, VALE.P, VKTX, WPZ, WRES, XBIT, YLCO, ZX                                                                                                       
ETFs that traded to 52 week highs: PSK, SKYY                                                                                                                                                                            
ETFs that traded to 52 week lows: AFK, EPOL, KOL, PPLT

11:28 am Market View: SPY, QQQ, & IWM now trade near session lows with SPX @ 2085.67 -4.44 (:TECHX) :  

11:26 am Currency Commentary: Jobs, Yellen, ECB on Deck (:SUMRX) :

• The Dollar Index continues to hold the 100 level in what is set up to be a heavy news week on the macro front.  Fed Chair Janet Yellen will be speaking on Wednesday at a Washington D.C. Economic Club event and will follow that up with a testimony on Monetary Policy on Thursday. This will help set the stage for the November jobs report due out Friday. The macro is off to a rough start for the week as the November Chicago PMI and October Pending Home Sales numbers both came in short of expectations. However these numbers have not had a major impact on trade.
• The euro remains under selling pressure ahead of the ECB interest rate meeting on Thursday. ECB President Mario Draghi has set the expectations for further QE easing high following a speech last week. Market participants will be looking at a potential increase into the bonds being purchased as well as the potential for an expansion to the asset classes that can be bought. Germany saw Retail Sales fall short of expectations this morning while CPI numbers were running in line. But the dominant story for the markets remains the ECB meeting so economic reports will be over shadowed.
• The pound slipped to a multi-month low as it broke below 1.50 for the first time since April 23. Economic data for the U.K. was solid with Net lending in line, Mortgage Approvals remaining strong and Money Supply being higher than expected.
• The yen has slipped back below 123 support. The move comes following a mixed set of data that saw Industrial Production and Housing Starts miss expectations while Retail Sales outpaced consensus. Bank of Japan Governor Haruhiko Kuroda reaffirmed his stance last night that the central bank will do whatever it takes to achieve its 2% inflation goal. This has spurred some weakness in the yen today.
• The International Monetary Fund is expected to announce today that the Chinese yuan will join its basket of currencies that form the Special Drawing Rights or SDRs. This has been expected and should help further integrate the World's second largest economy into the global economy. The percentage of the basket it makes up is still undetermined but it is believed to be in the range of 10-17%. This will mark the first change to the basket since 2000 when the German mark and French franc were exchanged for the euro (BONDX, FOREX).

11:22 am Dunkin Brands signs multi-unit store development agreement with franchise group Berliner III to develop 14 new restaurants in St. Louis and two new locations in Kansas City over the next several years (DNKN) :  

11:16 am Limelight Networks files patent infringement lawsuit against Akamai (AKAM) and XO Communications (LLNW) : Co files a lawsuit in the Eastern District of Virginia against Akamai (AKAM) and XO Communications for infringing six of their patents. The complaint indicates that the patents being infringed cover a broad range of inventions that are critical to the effective and efficient delivery of bytes by a content delivery network.

10:59 am Market View: Sector ETF under-performance here moving into mid-morning seen in Biotech.- IBB, BBH, Retailers- XRT, Transportation- IYT, & Healthcare/Pharma- XLV, IYH (:TECHX) :

• SPX now @ 2087.11 -3.00 (-0.14%)

10:32 am Market View: Indices working off 1st hour lows here with SPX now @ 2088.67 -1.44 (:TECHX) :  

10:31 am Financial Inst. agrees to acquire Courier Capital for $9 mln and additional considerations; expected to be moderately accretive to FY16 earnings (FISI) :

Co has entered into a definitive agreement to acquire Courier Capital, an SEC-registered investment advisory and wealth management firm based in western New York, with operations in Buffalo and Jamestown.

• The acquisition is structured as a merger, with $9 million (approximately 90% payable in FISI common stock) payable at closing (subject to certain adjustments), with additional contingent consideration (also payable primarily in FISI common stock) expected between $2.3 to $5.0 million and related post-closing payments based on Courier's achievement of certain growth objectives during the three year period following the closing.
• The acquisition is expected to be breakeven to moderately accretive to the earnings of Financial Institutions, Inc. in 2016.

10:17 am Blackstone and KIRKBI A/S confirm acquisition of Armacell (BX) :  

10:16 am Wyndham Worldwide and Priceline Group's (PCLN) Booking.com announce an agreement that allows WYN to use Booking.com for the distribution of properties (WYN) :  

10:07 am Market View: Energy sector ETFs out-perform this morning as Jan. NYMEX crude oil trades with a firm bid thus far (:TECHX) :

• XES +2.25%, OIH +1.35%, XOP +1.30%

10:03 am Global Eagle signs an agreement to provide Edelweiss and Pegasus Airlines with electronic flight bag solutions (ENT) :  

10:02 am Siemens AG announces FDA clearance for its Healthcare's Somatom computed tomography systems, for use in low-dose lung cancer screening (SIEGY) :  

9:53 am Cambrex (+3.4%) breaks out to all time high (CBM) :  

9:48 am NGL Energy Partners announces an offering of $300 mln in senior notes due 2020 (NGL) : Co expects to use the net proceeds of this offering to reduce borrowings under its senior secured revolving credit facility and for general partnership purposes.

9:45 am Opening Market Summary: Technology Sector Displays Opening Strength (:WRAPX) :

The major averages began the trading day just above their flat lines, but they have struggled to hold their early gains. The Nasdaq remains just above the unchanged level while the S&P 500 (-0.1%) hovers in the red.

Energy (+0.1%) and technology (+0.4%) trade ahead of their peers, but most of the remaining groups hold losses with the health care sector trading lower by 0.4% due to losses in the biotech space. To that point, the iShares Nasdaq Biotechnology ETF (IBB 338.73, -2.28) is lower by 0.6%.

On the economic front, the just released Chicago Purchasing Managers Index for November dipped to 48.7 from 56.2 in October. The November reading was shy of the Briefing.com consensus estimate, which was pegged at 55.0.

9:39 am Market View: Some notable sell pressure off the open here as the DJIA & SPX slip into the red (:TECHX) :  

9:37 am Smart & Final Stores announces US Bankruptcy court approval for the acquisition of 32 Haggen Locations in Central and Southern California for $68 mln; closure expected in 4Q15 (SFS) :  

9:36 am Early SPX 500 sector leadership seen in Energy- XLE & Utilities- XLU here (SPY) :

• SPX @ 2090.76 +0.65

9:33 am B.O.S. Better Online Solutions signs a definitive agreement for the acquisition of iDnext Ltd; transaction consummation expected in January 2016 (BOSC) : As reported by the Company on September 8, 2015, Dimex intends to acquire the business operation of iDnext and Next-Line in consideration for cash and BOS ordinary shares. The consideration will include an initial payment of NIS 1.6 million (approximately $411,000) paid in cash and NIS 1.3 million (approximately $334,000) paid by the issuance of 162,734 BOS ordinary shares (representing approximately 7% of BOS outstanding shares). Dimex shall make additional payments based on the annual operational profit of the acquired business in the calendar years 2016 and 2017.

9:28 am Market View: Dec. E-mini stock-index futures pulling back from pre-market highs nearing today's opening bell with ESz5 now +1.00, YMz5 now +14, & NQz5 now +11.50 (:TECHX) :  

9:28 am On The Wires (:WIRES) :

• Farmland Partners (FPI) entered into a purchase agreement to acquire a 7,400 acre farm in Louisiana for $31.8 mln in cash. Co also entered into a three-year lease agreement with the seller of the Louisiana farm. The lease agreement will have rental payments based on a percentage of gross farm proceeds and includes a minimum cash payment for the use of improvements on the farm.
• Deere & Company (DE) informed ~220 employees at John Deere Seeding and Cylinder in Moline that they will be placed on indefinite layoff, effective February 15, 2016. The layoffs reflect last week's forecast by Deere that agricultural machinery sales will decrease in fiscal year 2016. Deere said the actions are taken to align the size of the manufacturing workforce at individual factories with market demand for products made at each specific location. In the past, manufacturing employees at John Deere Seeding and Cylinder have experienced seasonal layoffs in the spring and returned to work in the fall. Today's announcement is an indefinite layoff with no specific call-back date.
• Trex Co (TREX) has added Boise Cascade in California as a major distributor for West Coast Operations
• Mentor Graphics (MENT) announced that Xiamen San'an Integrated Circuit Co has selected the Calibre nmDRC and Calibre nmLVS products as its golden signoff physical verification solution for gallium arsenide ICs used in mobile and other wireless applications.
• ACADIA Pharmaceuticals (ACAD) announced the appointment of Srdjan Stankovic, M.D., M.S.P.H., as EVP, Head of R&D.
• Intercontinental Exchange (ICE) announced the introduction of 81 new energy futures and options contracts. Commodities included in the new offerings are Crude Oil, Coal, Natural Gas Liquids, Financial Power and Physical Environmental Power
• Shell Chemical (RDS.A) announced the final investment decision to increase Alpha Olefins (:AO) production at its chemical manufacturing site in Geismar, Louisiana, making the site the largest AO producer in the world. Shell will construct a fourth AO unit, adding 425K tonnes of capacity.
• Ambac Financial Group (AMBC) announced that Ambac Assurance has further reduced its exposure to insured student loan securities. It has reduced Ambac Assurance's insured student loan exposure by an additional $560 mln, or nearly 20 percent of the Company's remaining student loan net par exposure, compared with the end of 3Q15. The firm's total student loan related exposures now stand at $2.3 bln.

9:20 am Eagle Point Credit announces an offering of unsecured notes due 2020 (ECC) : Co plans to use the net proceeds from the offering of the Series 2020 Notes to acquire investments in accordance with its investment objectives and strategies and for general corporate purposes.

9:20 am PGT Inc. acquires WinDoor, Inc. for ~$102 mln; transaction expected to be EPS accretive within 12-18 months (PGTI) :

Co acquires WinDoor for ~$102 mln.

• This acquisition will improve PGTI's EBITDA margin, and the deal is expected to be EPS accretive within 12-18 months, depending on the cost of capital for the new credit facility.
• WinDoor provides windows and doors for 5 star resorts, luxury high-rise condominiums, hotels and custom residential star homes.
• Transaction is expected to close in the middle of 1Q16.
• Deutsche Bank and Suntrust have committed to providing a long-term debt facility of $350 mln ($255 pro forma debt, net of undrawn revolver and cash liquidity) which will be used to consummate the acquisition, repay existing indebtedness and for general corporate purposes.

9:12 am S&P futures vs fair value: +5.10. Nasdaq futures vs fair value: +16.90. (:WRAPX) :

The stock market is on track for a modestly higher open as S&P 500 futures trade five points above fair value after inching to pre-market highs during the past hour.

The recent advance followed a relatively quiet overnight session that saw mixed action during Asian trade while European markets hold gains after erasing their opening declines.

This morning has been free of notable corporate news and today's economic data will be limited to the November Chicago PMI (Briefing.com consensus 55.0) and October Pending Home Sales (consensus +0.7%) with the two reports set to be released at 9:45 ET and 10:00 ET, respectively.

Treasuries have reclaimed their overnight losses and the 10-yr yield is currently unchanged at 2.22%.

9:03 am Computer Sciences completes spin-off of CSRA (CSRA), announces respective quarterly cash dividends (CSC) :

CSRA (CSRA) announced that it has completed its separation from CSC and is now an independent public company trading on the New York Stock Exchange. Additionally, CSRA completed its planned combination with SRA International

• CSC and CSRA each paid concurrent special cash dividends which in the aggregate totaled $10.50 per share. Of that $10.50 per share dividend, $2.25 was paid by CSC and $8.25 was paid by CSRA. Payment of each portion of the special dividend was made to holders of CSC common stock on the Record Date who received shares of CSRA common stock in the distribution.
• Concurrently with the consummation of the spin-off and the mergers, CSRA entered into definitive agreements providing for approximately $3.5 billion in principal amount of secured indebtedness, of which $1.56 billion was drawn after the spin-off to fund the special dividends, transaction costs and repayment of indebtedness and $1.44 billion was drawn upon consummation of the merger to pay merger consideration and transaction costs and to refinance existing SRA indebtedness.
• CSC's Board of Directors has declared a regular quarterly cash dividend of $0.14 per share on CSC common stock. The dividend will be paid on January 26, 2016 to CSC stockholders of record at the close of business on January 5, 2016.
• CSRA's Board of Directors has declared a regular quarterly cash dividend of $0.10 per share on CSRA's common stock. The first quarterly dividend will be paid on January 26, 2016 to CSRA stockholders of record at the close of business on January 5, 2016.
  Stockholders who continue to hold both CSC and CSRA shares will receive an increase in quarterly cash dividend of approximately 4 percent from the previous quarterly cash dividends paid by CSC.
• CSRA's Board of Directors authorized up to $400 million for future repurchases of outstanding shares of its common stock, from today's date through March 31, 2019.

9:02 am Pointer Telocation is awarded ~$1 mln contract to supply and install advanced solutions to manage a large fleet of vehicles in Brazil (PNTR) :  

9:01 am Werner Enterprises announced a 48-state solo van company driver pay increase; avg. increases will be ~$5K annually for each of the firm's 1,400 drivers (WERN) :  

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

• Southern Company's (SO) subsidiary Southern Power acquired a controlling interest in an 157 MW solar facility in Texas; expected to enter commercial operation in 4Q16.
• Waters (WAT) announced the opening of a new office in Kuala Lumpur, Malaysia.
• Florida Atlantic University and SK Telecom (SKM) entered into a research and education agreement to collaborate on the development of secure communications using quantum physics.
• iBio (IBIO) received notice from the European Patent Office that the opposition period for a patent granted to iBio has expired and no opposition has been filed. In addition iBio has received a notice of grant for a Chinese patent in the co's iBioModulator thermostable immunomodulator protein portfolio for patent w/ serial number CN103074316.
• Det norske oljeselskap ASA has on behalf of the partnerships in PL 203 and PL 150 awarded an agreement to Transocean (RIG) Offshore Ltd NUF for the lease of the semi-submersible drilling rig Transocean Arctic. The contract scope for drilling of four wells in the Alvheim area (estimated to 250 days (has a market value of ~$44.75 mln exclusive options.

8:57 am S&P futures vs fair value: +5.60. Nasdaq futures vs fair value: +17.60. (:WRAPX) :

The S&P 500 futures trade six points above fair value.

The Asian equity markets ended Monday on a mixed note. The session saw the Shanghai Composite drop over 3.0% before recovering to gain 0.3% for the session. There was unconfirmed speculation of government intervention occurring in the last hour of trading with the IMF's decision on inclusion of the yuan into its reserve currency basket looming later today. There was early weakness in the financial sector after local reports suggested that non-performing loans hit record levels last month. The drop in Chinese equities sent shivers across the region and had a spill over impact in Japan (the late day buying in the Shanghai occurred shortly after Japan closed). The Nikkei dropped 0.7% with better than expected macro data (Oct Retail Sales +1.1%; expected +0.3%) and comments from the BOJ's Kuroda helping set the tone for the session. The central banker's commentary reaffirmed the commitment to 2.0% inflation, but also suggested no real rush to do so.

• In economic data:
  • Japan's October Industrial Production +1.4% month-over-month (expected 1.9%; previous 1.1%), October Retail Sales +1.8% year-over-year (consensus 0.8%; last -0.2%), and October Housing Starts -2.5% year-over-year (consensus 2.9%; last 2.6%)
  • New Zealand's October Building Consents +5.1% month-over-month (consensus 3.0%; previous -5.8%) and November ANZ Business Confidence 14.6 (consensus 15.0; prior 10.5)
  • Australia's October Private Sector Credit +0.7% month-over-month (consensus 0.6%; prior 0.8%)
  • South Korea's October Industrial Production -1.4% month-over-month (consensus 0.2%; last 2.2%) and Retail Sales +3.1% month-over-month (expected 0.5%)
  • Hong Kong's October Retail Sales -3.0% year-over-year (consensus -5.3%; last -6.4%)
  • India's Q2 GDP quarterly +7.4% year-over-year (consensus 7.3%; previous 7.0%)

------

• Japan's Nikkei declined 0.7%. Japanese shares saw 2 waves of selling pressure during the day, with the first coming right after the open and the second that started in the last 2 hours of trade. The latter put the clamps on any hopes of the index taking back earlier losses, particularly after the comments from Bank of Japan Governor Kuroda, who would not commit to additional easing at this time. Semiconductors were on the move higher with Toshiba gaining 2.9% and Tokyo Electron adding 2.8% with electronic devices continuing to be one of the hot items coming out of the Black Friday weekend. Financials continued to see added pressure that started in the sector last week with the likes of Bank of Yokohama losing 3.5% and Mizuho Financial dropping 1.2% on the day.
• Hong Kong's Hang Seng fell 0.3% after a daylong tug of war. Consumer names were under some pressure following Tian Ge Interactive's (-7.6%) release of its third quarter earnings release. Investors shied away from China Mobile today, taking the stock down 0.9% after the company announced a local acquisition.
• China's Shanghai Composite rose 0.3%, with investors buying the dip when the index saw an early 3.0% decline. Brokerages remained on the list of laggards today with CITIC Securities (-3.9%) continued to be under scrutiny by regulators, while industry peer Haitong Securities hit its limit move lower (-10.0%) catching similar sentiment. Property stocks outperformed today with China Vanke (+4.8%) and Poly Real Estate (+2.1%) showing strength amid reports that some purchase restrictions may be lifted in some of the mid-tier provinces.

Major European indices trade higher across the board with UK's FTSE (+0.1%) trailing its peers. The European Central Bank will be in focus later this week with some clamoring for additional stimulus measures like a deposit rate cut, an extension of the current program, or an increase in the monthly pace of purchases.

• Participants received several data points:
  • UK's October Mortgage Approvals 69,630 (expected 70,000; previous 69,010) and Net Lending to Individuals GBP4.80 billion, as expected
  • Germany's October Retail Sales -0.4% month-over-month (expected 0.4%; previous 0.0%); +2.1% year-over-year (consensus 2.9%; prior 3.5%)
  • Spain's October Retail Sales +5.8% year-over-year (consensus 4.5%; last 4.7%)
  • Italy's November CPI -0.4% month-over-month (expected -0.2%; last 0.2%); +0.1% year-over-year (consensus 0.3%; prior 0.3%)

------

• UK's FTSE is higher by 0.1% after erasing an opening loss. Consumer names have fueled the rebound with InterContinental Hotels, Sports Direct, easyJet, and International Consolidated Airlines up between 1.9% and 3.3%. On the downside, financials Aberdeen Asset Management and Lloyds Banking hold respective losses of 4.2% and 0.8%.
• France's CAC trades up 0.5% amid strength in exporters and financials. Peugeot, Renault, and Societe Generale hold gains between 1.3% and 2.1%. On the downside, Veolia Environnement is lower by 0.9% while other decliners sport slimmer losses.
• Germany's DAX has climbed 0.9% with all but five components showing gains. Volkswagen has spiked 4.9% while BMW, Daimler, Deutsche Bank, and Siemens follow with solid gains between 1.1% and 1.9%. On the flip side, Linde is the weakest performer, down 1.6%.

8:53 am Gapping down (SCANX) : Gapping down
In reaction to disappointing earnings/guidance: SPCB -20.8%, QURE -4.4%

M&A news: CHL -1.1% (subsidiary has entered into an agreement to acquire various assets and businesses from TieTong for ~RMB 31.88 bln)

Select Brazil related names showing weakness: CBD -3.6%, VIV -1.9%, ABGB -1.7%, ITUB -1.5%

Select metals/mining stocks trading lower: VALE -5.3%, BHP -4.7%, BBL -4.3%, GOLD -2%, RIO -0.9%

Other news: CYCC -11.8% (lower premarket after Martin Shkreli was out cautious last night), AEZS -6.9% (lower premarket after Martin Shkreli was out cautious last night), TEVA -2.2% (Teva Pharma and Takeda (TKPYY) form partnership to provide generics in Japan; Expected to Start Operating in Q2 of 2016), BOX -1.8% (still checking), HSBC -0.8% (in symp with LYG downgrade)

Analyst comments: ABY -4.8% (downgraded to Underperform from Neutral at BofA/Merrill), LULU -3.8% (downgraded to Underperform at FBR Capital), SOHU -3% (downgraded to Sell from Neutral at Goldman), COTY -2.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley), CYOU -2.9% (downgraded to Sell from Neutral at Goldman), SINA -1.9% (downgraded to Neutral from Buy at Goldman), SFUN -1.9% (downgraded to Neutral from Buy at Goldman), RTN -1.2% (downgraded to Equal Weight from Overweight at Barclays), LYG -1.1% (downgraded to Underperform at Bernstein), LMT -0.9% (downgraded to Underweight from Equal Weight at Barclays)

8:52 am Gulf Resources subsidiary invests up to ~$172 mln for for deep processing of brine well resources and the comprehensive utilization of associated natural gas under brine well (GURE) :

Co's wholly owned subsidiary Shouguang City Haoyuan Chemical Company Limited enters into an agreement with the People's Government of Daying County in Sichuan Province for the exploration and development of natural gas and brine resources.

• Under the terms of this agreement, SCHC will invest ~$172 mln. SCHC will have the responsibility for exploration, drilling, production, and etc.
  • It will have to meet environmental assessment and safety regulations. 
• If this project proves successful, Co will consider many alternatives. These could include among others: selling the natural gas business, spinning it off as a separate public company in China or Hong Kong, or considering a listing on another exchange.
  • Co believes it is premature to consider these alternatives.

8:51 am Gapping up (SCANX) : Gapping up
In reaction to strong earnings/guidance: WUBA +3%

M&A news: KANG +15% (confirms the receipt of a take-over bid from a consortium for $22 per ADS)

Other news: AVXL +26.3% (announces the publication of further data for ANAVEX 3-71 in the peer-reviewed scientific journal Neurodegenerative Disease),WGBS +25.3% (Martin Shkreli started to/intends on analyzing WGBS, RPRX, MIRN and DNAI, per the request of the people following his live stream),ORMP +16.8% (signs $50 mln in definitive licensing and investment agreements with Hefei Tianhui Incubator of Technologies, for rights to Oramed's ORMD-0801),BCLI +16% (receives second grant for $735K from Israel's Office of Chief Scientist),SNSS +13.7% (announces the European Patent Office has granted it a pataent for certain combined uses of vosaroxin and cytarabine),IMMY +8.7% (entered into a Controlled Equity Offering sales agreement with Cantor Fitzgerald to offer and sell shares of its common stock having an aggregate offering price of up to $10 mln),DNAI +6.5% (Martin Shkreli started to/intends on analyzing WGBS, RPRX, MIRN and DNAI, per the request of the people following his live stream),RPRX +6.3% (Martin Shkreli started to/intends on analyzing WGBS, RPRX, MIRN and DNAI, per the request of the people following his live stream),MBT +4.3% (cont volatility pre-mkt),HZNP +3.8% ( receives European Commission approval for RAVICTI),SUNE +2.7% (cont strength),DB +1.6% (releases a statement from Co-CEO John Cryan, related to know-your-client and client on-boarding procedures),RMTI +1.3% (announces CMS grant of permanent unique product reimbursement code for Triferic)

Analyst comments: CANF +8% ( target raised to $6 at H.C. Wainwright),FIT +4.2% (upgraded to Overweight from Equal Weight at Barclays),TACO +4.1% (added to Best Ideas List at Wedbush),GWPH +3.3% (re-initiated with a Buy at ROTH Capital),SLM +1.6% (initiated with a Overweight at JP Morgan),MSFT +1.2% (upgraded to Strong Buy from Mkt Perform at Raymond James),RIG +1.1% (upgraded to Buy from Neutral at Guggenheim),NYCB +1% (upgraded to Buy from Neutral at BofA/Merrill),GD +0.8% (upgraded to Overweight from Equal Weight at Barclays)

8:47 am Sterling Construction is selected by Denver's Regional Rail Partners as a major subcontractor for two Regional Transport District projects; Sterling's contract portion valued at $28 mln (STRL) : Co announced that its subsidiary, Ralph L. Wadsworth Construction Company, was selected by Denver's Regional Rail Partners as a major subcontractor for a joint venture between Balfour Beatty and Graham Contracting on two Regional Transport District projects. Sterling's portions of the projects are valued at $28 million.

8:47 am European Markets Update: FTSE +0.1%, CAC +0.5%, DAX +0.9% (:SUMRX) :

Major European indices trade higher across the board with UK's FTSE (+0.1%) trailing its peers. The European Central Bank will be in focus later this week with some clamoring for additional stimulus measures like a deposit rate cut, an extension of the current program, or an increase in the monthly pace of purchases.

• Participants received several data points:
  • UK's October Mortgage Approvals 69,630 (expected 70,000; previous 69,010) and Net Lending to Individuals GBP4.80 billion, as expected
  • Germany's October Retail Sales -0.4% month-over-month (expected 0.4%; previous 0.0%); +2.1% year-over-year (consensus 2.9%; prior 3.5%)
  • Spain's October Retail Sales +5.8% year-over-year (consensus 4.5%; last 4.7%)
  • Italy's November CPI -0.4% month-over-month (expected -0.2%; last 0.2%); +0.1% year-over-year (consensus 0.3%; prior 0.3%)

------

• UK's FTSE is higher by 0.1% after erasing an opening loss. Consumer names have fueled the rebound with InterContinental Hotels, Sports Direct, easyJet, and International Consolidated Airlines up between 1.9% and 3.3%. On the downside, financials Aberdeen Asset Management and Lloyds Banking hold respective losses of 4.2% and 0.8%.
• France's CAC trades up 0.5% amid strength in exporters and financials. Peugeot, Renault, and Societe Generale hold gains between 1.3% and 2.1%. On the downside, Veolia Environnement is lower by 0.9% while other decliners sport slimmer losses.
• Germany's DAX has climbed 0.9% with all but five components showing gains. Volkswagen has spiked 4.9% while BMW, Daimler, Deutsche Bank, and Siemens follow with solid gains between 1.1% and 1.9%. On the flip side, Linde is the weakest performer, down 1.6%.

8:43 am Golar LNG reports Q3 results; sees operating earnings improving; the Board may consider reducing the dividend level in the coming six quarters until the GoFLNG Hilli project commences (GLNG) :

• Co reported today a 3Q operating loss of $24.2 million as compared to $43.4 million in 2Q. In line with expectations, 3Q reported an improvement in vessel utilisation, albeit from a very low level in 2Q. Although headline charter rates remained relatively constant across the quarters, the increase in utilisation from 33% in 2Q to 43% in 3Q together with improved round trip economics resulted in an increase in time charter revenues from $16.9 million in 2Q to $24.3 million in 3Q. With the exception of the Golar Penguin, all of the carriers recorded utilisation at or above prior quarter levels.
• In order to support the company's growth prospects the Board has evaluated the Company's dividend policy. The dividend was maintained in 3Q however the Board may consider reducing the dividend level in the coming six quarters until the GoFLNG Hilli project commences. The target will be to free up additional capital to fund growth within the FLNG segment. The Board continues to see a regular dividend as a key part of the investment return for shareholders and expects that the long term cashflow generated by the FLNG contracts can provide a good basis for stable dividends when these contracts commence.
• Co expects operating earnings to improve in the coming quarters, driven by an improved shipping market and Golar Tundra commencing operations in 2Q 2016.

8:36 am Canadian Solar subsidiary closes on a combined construction and long term debt facility for ~$275 mln (CSIQ) : Southern Company subsidiary Southern Power announced the acquisition of a controlling interest in the 157-megawatt (MW) Roserock solar facility from Recurrent Energy, a subsidiary of Canadian Solar Inc., which will retain the remaining interest in the project. The project is expected to enter commercial operation in the fourth quarter of 2016.

8:35 am Petrobras Brasileiro Chairman Murilo Pinto de Oliveira Ferreira resigns (PBR) : Luiz Nelson Guedes de Carvalho, who was performing the duties of the Chairman since September 14th, will stay in this position until the next ordinary Board meeting, when this subject will be deliberated.

8:33 am China Housing & Land will hold a special meeting of stockholders on Wednesday, December 30, 2015 to vote on its previously announced 'going private' transaction (CHLN) : Co has filed with the SEC the definitive proxy statement in connection with the previously announced transaction which consists of a reverse stock split of the Company's common stock, whereby each 50,000 shares of the outstanding common stock will be converted into one whole share of Company common stock, and, in lieu of issuing fractional shares to stockholders who would hold fractional shares as a result of the Reverse Stock Split, the Company will pay cash equal to US$3.00 multiplied by the number of pre-Reverse Stock Split shares of common stock held by such stockholder underlying the corresponding fractional shares.

8:33 am Universal Insurance announces that members of the Board and management have purchased commons shares in the open market using personal funds (UVE) : In addition, Sean Downes, Chairman, President and Chief Executive Officer, and Jon Springer, Chief Operating Officer, have terminated their pre-arranged Rule 10b5-1 stock trading sale plans. Downes and Springer currently own 1.7 million and 371,000 shares of the Company's common stock, respectively.

8:31 am Express Scripts and Premera Blue Cross renew their long-standing pharmacy benefit agreement through 2019 (ESRX) :  

8:31 am Getty Realty Corp. declares a special dividend of $0.22/share; to be paid in a combination of cash and stock (GTY) :  

8:30 am Edgewater announces a review of strategic alternatives (EDGW) : Co announced that its Board of Directors has authorized the review of strategic alternatives to enhance shareholder value. Signal Hill Capital Group LLC is serving as Edgewater's financial advisor and Hinckley, Allen & Snyder LLP and Jones Day are acting as legal counsel.

8:29 am Brown & Brown acquires MBA Insurance Agency of Arizona; terms not disclosed (BRO) : MBA has annual net revenues of ~$5.5 million.

8:29 am On The Wires (:WIRES) :

• CoLucid Pharmaceuticals (CLCD) announced that over 50% of the migraine patients needed to complete the Company's SAMURAI trial, the first of two pivotal Phase 3 clinical trials, have now been randomized. CoLucid has now randomized over 50% of the anticipated 2,225 total migraine patients for SAMURAI, and expects to have the trial fully enrolled in the first half of 2016.
• St. Jude Medical (STJ) announced the European launch of the Proclaim Elite Spinal Cord Stimulation System. The approval also includes conditional magnetic resonance labeling for the Proclaim Elite SCS system, which will allow patients to safely undergo head and extremity MRI scans.
• Avolon (AVOL) acquired one Airbus A320-200 aircraft on lease to VivaAerobus
• UBIC (UBIC) announced its decision to implement a refinancing of short term borrowings. Co decided to implement a refinancing with long-term loans from The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Sumitomo Mitsui Banking Corporation as part of a loan program through the JBIC. The total amount to be borrowed will be $20,440,000, and will have a repayment date of December 24, 2020

8:27 am S&P futures vs fair value: +6.40. Nasdaq futures vs fair value: +20.40. (:WRAPX) :

Index futures remain near their best levels of the morning amid relatively quiet action overseas.

With the earnings season in the rear-view mirror, this week will be quiet on the corporate front, but investors will receive several economic data points, including the November Nonfarm Payrolls report, which will be released on Friday at 8:30 ET (Briefing.com consensus 196,000).

Today, however, economic data will be limited to November Chicago PMI (Briefing.com consensus 55.0) and October Pending Home Sales (consensus +0.7%) with the two reports set to be released at 9:45 ET and 10:00 ET, respectively.

Treasuries remain just below their flat lines with the 10-yr yield up one basis point at 2.23%.

8:25 am Ford Motor details specifics of UAW-Ford collective bargaining agreement, expects to incur a $600 mln expense this year tied to the new agreement (F) :

The company also has committed to investing $9 billion in its U.S. plants and expects to create or secure 8,500 hourly U.S. jobs in communities across Michigan, Illinois, Kentucky, Missouri, New York and Ohio. The jobs will support production of the all-new Ford Super Duty, F-150 Raptor, Lincoln Continental and several new powertrain technologies.

• The agreement covers approximately 53,000 UAW-represented employees in the U.S. It builds on the 2011 Ford-UAW labor agreement, in which Ford pledged to create 12,000 new U.S. jobs. The company exceeded that commitment by adding more than 15,000 hourly jobs between 2011 and 2015 and investing $10.2 billion in the company's U.S. plants.

8:20 am Oramed Pharmaceuticals signs $50 mln in definitive licensing and investment agreements with Hefei Tianhui Incubator of Technologies, for rights to Oramed's ORMD-0801 (ORMP) :

Co has signed definitive licensing and investment agreements valued at up to $50,000,000 with Hefei Tianhui Incubator of Technologies Co, for exclusive rights to market Oramed's oral insulin capsule, ORMD-0801, in China, Hong Kong and Macau. The license agreement payments include a $3 million payment due upon execution of the agreement, $8 million in near-term payments subject to Oramed entering into certain agreements and the balance payable upon achievement of certain milestones. In addition, if all conditions are met, HTIT will pay a 10% royalty on net sales of the related commercialized products. 

• In addition to the contemplated payments under the license agreement, pursuant to the investment agreement, Oramed will issue to Hefei Tianhui Incubator of Technologies 1,155,469 restricted shares of Oramed's common stock at a price per share of $10.39 and $12 million in total.

8:18 am Synovus announces a public offering of subordinated notes due 2025 (SNV) : Co intends to use the net proceeds from this offering for general corporate purposes, which may include, but are not limited to, potential strategic acquisitions, share repurchases and repayment of debt at or prior to its maturity.

8:08 am ERBA Diagnostics provides update: Still working on restatement, ERBA Diagnostics Mannheim GmbH will own 83% of ERB after latest cash infusion (ERB) :

• As the Company had reported a little over a week ago, the Company intends to restate its financial statements for each of the years ended December 31, 2014 and 2013 and for each of the interim periods ended March 31, 2015 and June 30, 2015. The Company is working diligently to complete its review of matters relating to such periods and, as soon as practicable thereafter, intends to file amended reports with the Securities and Exchange Commission containing restated financial statements related to such periods.
• Suresh Vazirani, Executive Chairman of the Board of Directors of the Company, and Chief Executive Officer and Managing Director of ERBA Diagnostics Mannheim GmbH, said, "ERBA Diagnostics Mannheim GmbH, which is the Company's majority stockholder, intends to continue to support the Company's recently expanded management team in their endeavor to grow and enhance stockholder value. In an effort to enable the Company's management team to do so, ERBA Diagnostics Mannheim GmbH intends to infuse $3.5 million into the Company in the coming weeks. This capital infusion will be made pursuant to the final tranche of the previously reported Stock Purchase Agreement, which was entered into in April 2011 between the Company and ERBA Diagnostics Mannheim GmbH."
• ERBA Diagnostics Mannheim GmbH owns ~36.0 million, or 81.6%, of the ~44.1 million currently-issued and outstanding shares of the Company's common stock. After giving effect to this capital infusion, ERBA Diagnostics Mannheim GmbH will own ~40.6 million, or 83.3%, of the approximately 48.7 million then-issued and outstanding shares of the Company's common stock.

8:07 am Lear acquires Arada Systems; terms not disclosed (LEA) : Arada Systems provides Vehicle-to-Vehicle and Vehicle-to-Infrastructure communications.

8:06 am Cytori Therapeutics presents data demonstrating that Cytori Cell Therapy can promote burn wound healing via topical spray delivery (CYTX) :

Co announced the publication of preclinical data demonstrating that Cytori Cell Therapy can promote burn wound healing via topical spray delivery.

• Results showed that delivery of Cytori Cell Therapy by topical spray or local injection of Cytori Cell Therapy increased wound epithelialization by about 21% over control at day 12 post-treatment (p

8:05 am Varian Medical announces the National Health Service of the UK has ordered 20 TrueBeam machines, as part of an ongoing program to replace older machines (VAR) :  

8:04 am Warren Resources appoints Frank Smith Jr. as SVP and CFO, effective November 25, 2015 (WRES) : Brian Gelman, who has served as Interim CFO since November 6, 2015, has stepped down from this role and will continue as Chief Accounting Officer and Controller. Smith has served as SVP and CFO of Dune Energy, Inc. since 2007 and as Secretary since January 2012.

8:03 am Anavex announces the publication of further data for ANAVEX 3-71 in the peer-reviewed scientific journal Neurodegenerative Disease (AVXL) :

The ANAVEX 3-71 data provides evidence for a positive, more upstream effect on reducing synaptic loss, amyloid and tau pathologies, and neuroinflammation, which is potentially beneficial for the treatment of Alzheimer's and other neurological diseases. ANAVEX 3-71 is part of the Company's pipeline including ANAVEX 2-73 targeting sigma-1 and muscarinic receptors. The results of the preclinical study demonstrate that ANAVEX 3-71:

• Protects post-synaptic dendritic spines and reverses synaptic loss in hippocampal neurons, which are important for learning and memory and their loss may cause cognitive decline in AD. Results show that ANAVEX 3-71 efficiently rescues mushroom spines via potential activation of sigma-1 receptor/M1R.
• Mitigates cognitive impairments and lessens Alzheimer's-like pathology in the 3xTg-AD animal model. Notably ANAVEX 3-71 showed exceptional efficacy in restoring cognitive decline associated with AD and with lessening BACE1, GSK3beta activity, p25CDK5, neuroinflammation, soluble and insoluble Abeta40, Abeta42, accumulation of amyloid plaques and tau pathologies.
• Reverses the cognitive decline induced by the M1R antagonist, trihexyphenidyl via activation of both sigma-1 receptor and M1R.

8:03 am Integrated Silicon received favorable jury verdict in litigation brought by GSI Technology (GSIT) (ISSI) :

• Following a four-week trial in San Jose, California, the jury rejected GSI's claims against ISSI, including trade secret misappropriation and unfair competition. Other GSI claims, including antitrust allegations, were dismissed in pre-trial rulings. "We invested a lot of time and effort to defend this case. However, after more than two years plus a several week jury trial, we are very pleased with this favorable verdict."
• ISSI was represented in this litigation by Wilson Sonsini Goodrich & Rosati, P.C. The verdict remains subject to potential post-trial motions and/or a potential appeal by GSI.

8:03 am Arena Pharm and Eisai (ESALY) announce FDA acceptance of its NDA filing for an extended release formulation of lorcaserin (ARNA) :  

8:03 am Pieris Pharmaceuticals achieves payment milestone in Sanofi (SNY) collaboration (PIRS) : Co announces the achievement of the third payment-based milestone in its R&D collaboration with Sanofi (SNY), triggering a payment of an undisclosed amount to Pieris. The milestone stems from Sanofi's decision to continue advancing the tetraspecific Anticalin-based program for infectious disease.

8:02 am Rockwell Medical announces CMS grant of permanent unique product reimbursement code for Triferic (RMTI) : Co announced that the Centers for Medicare and Medicaid Services (CMS) has granted a permanent unique product reimbursement code for Triferic. The Level II Healthcare Common Procedure Coding System (:HCPCS) product reimbursement J-code (J1443) will become effective on January 1, 2016. 

8:02 am GW Pharma announces a date and time change for Q4 and FY15 financial results; now to be released on Monday December 7th, 2015 at 4:00 p.m. ET (GWPH) :  

8:00 am RedHill Biopharma completes dosing in its Phase IIa study of RHB-104 for Multiple Sclerosis; top-line interim results are expected to be announced early in 1Q16 (RDHL) :

Co announces completion of the last dosing and scheduled follow-up patient visit ahead of top-line interim analysis in the Phase IIa proof-of-concept clinical study evaluating RHB-104 in patients treated for relapsing-remitting multiple sclerosis (RRMS). RHB-104 is a proprietary and potentially groundbreaking antibiotic combination therapy in oral capsule formulation, with potent intracellular, anti-mycobacterial and anti-inflammatory properties. Top-line interim results are expected to be announced early in 1Q16. A full analysis and the final Clinical Study Report are expected during 2Q16.

8:00 am Ironwood Pharma announces that the Phase II clinical trial of linaclotide conducted in adults with opioid-induced constipation met its primary endpoint (IRWD) :

Co announced that the Phase II clinical trial of linaclotide conducted in adults with opioid-induced constipation (:OIC) met its primary endpoint. The OIC clinical trial was conducted jointly by Ironwood and a subsidiary of Allergan plc, Ironwood's co-development and co-commercialization partner for linaclotide in the United States.

• Top-line data from the Phase II trial indicate that linaclotide-treated patients showed statistically significant improvement for the pre-specified primary endpoint: change from baseline in the 8-week Spontaneous Bowel Movement (SBM) frequency rate (SBMs/week), during the treatment period, for both doses tested, 145 mcg and 290 mcg, compared to placebo-treated patients.
• Ironwood and Allergan will make a decision regarding advancement of the OIC program following a review of results from the linaclotide colonic release Phase IIb trial in adults with IBS-C and continued analysis of the full commercial opportunity. The companies expect data from the linaclotide colonic release Phase IIb trial in the second half of 2016.

8:00 am On The Wires (:WIRES) :

• Global Blood Therapeutics (GBT) announced an upcoming investor webcast for GBT440. On Monday, December 7 at 12:30 PM ET, the firm will review GBT440 data to be presented at the 57th American Society of Hematology Annual Meeting and Exposition.
• Cleveland BioLabs (CBLI) announced the allowance of two new patent applications by the USPTO. The allowed claims of U.S. Patent Application No. 14/828,111 expand coverage of the Co's lead agent, entolimod, as well as various other flagellin-derived agents, by providing composition of matter protection, which covers use of these various flagellin-derived agents to treat, for example, apoptosis related to radiation exposure or cancer.
• BG Medicine (BGMD) announced an amendment to its license and distribution agreement for Galectin-3. BG Medicine and Abbott (ABT) have amended their License and Distribution Agreement in regard to the product fees paid to BG Medicine by Abbott for galectin-3 tests sold by Abbott to reference laboratories. BG stated: "We expect that, as a result, the majority of revenues currently generated from sales of manual test kits will, over time, likely be replaced by product fees generated from the sale of the automated tests by our automated partners when their automated tests become available."

7:55 am S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +19.10. (:WRAPX) :

U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover six points above fair value after spending the night in a 13-point range.

Meanwhile, Treasuries hold modest losses with the 10-yr yield up one basis point at 2.23%.

Today's economic data will be limited to November Chicago PMI (Briefing.com consensus 55.0) and October Pending Home Sales (consensus +0.7%) with the two reports set to be released at 9:45 ET and 10:00 ET, respectively.

In U.S. corporate news of note:

• Lockheed Martin (LMT 222.50, -3.41): -1.5% after Barclays downgraded the stock to 'Underweight' from 'Equal Weight.'
• Transocean (RIG 14.20, +0.08): +0.6% after Guggenheim upgraded the stock to 'Buy' from 'Neutral.'

Reviewing overnight developments:

• Asian markets ended mostly lower. Japan's Nikkei -0.7%, Hong Kong's Hang Seng -0.3%, and China's Shanghai Composite +0.3%
  • In economic data:
    • Japan's October Industrial Production +1.4% month-over-month (expected 1.9%; previous 1.1%), October Retail Sales +1.8% year-over-year (consensus 0.8%; last -0.2%), and October Housing Starts -2.5% year-over-year (consensus 2.9%; last 2.6%)
    • New Zealand's October Building Consents +5.1% month-over-month (consensus 3.0%; previous -5.8%) and November ANZ Business Confidence 14.6 (consensus 15.0; prior 10.5)
    • Australia's October Private Sector Credit +0.7% month-over-month (consensus 0.6%; prior 0.8%)
    • South Korea's October Industrial Production -1.4% month-over-month (consensus 0.2%; last 2.2%) and Retail Sales +3.1% month-over-month (expected 0.5%)
    • Hong Kong's October Retail Sales -3.0% year-over-year (consensus -5.3%; last -6.4%)
    • India's Q2 GDP quarterly +7.4% year-over-year (consensus 7.3%; previous 7.0%)
  • In news:
    • Bank of Japan Governor Haruhiko Kuroda spoke overnight, reiterating that the central bank expects the Japanese economy to hit the 2.0% inflation target by the second half of next year

• Major European indices trade higher across the board. UK's FTSE +0.2%, France's CAC +0.8%, and Germany's DAX +1.1%. Elsewhere, Italy's MIB +0.9% and Spain's IBEX +1.1%
  • Participants received several data points:
    • UK's October Mortgage Approvals 69,630 (expected 70,000; previous 69,010) and Net Lending to Individuals GBP4.80 billion, as expected
    • Germany's October Retail Sales -0.4% month-over-month (expected 0.4%; previous 0.0%); +2.1% year-over-year (consensus 2.9%; prior 3.5%)
    • Spain's October Retail Sales +5.8% year-over-year (consensus 4.5%; last 4.7%)
    • Italy's November CPI -0.4% month-over-month (expected -0.2%; last 0.2%); +0.1% year-over-year (consensus 0.3%; prior 0.3%)
  • Among news of note:
    • The European Central Bank will be in focus later this week with some clamoring for additional stimulus measures like a deposit rate cut, an extension of the current program, or an increase in the monthly pace of purchases

7:41 am Partner Comms acknowledges the filing of two class action lawsuits against it and its 012 Smile Telecom subsidiary (PTNR) :

The claims allege that Partner and 012 Smile required their customers to purchase a router and/or a call adaptor and/or terminal equipment as a condition for using their fixed-line telephony services, not in accordance with the provisions of their licenses.

• If the claim filed against Partner is recognized as a class action, the total amount claimed against Partner is estimated by the plaintiff to be NIS 116 million. If the claim filed against 012 Smile is recognized as a class action, the total amount claimed against 012 Smile is estimated by the plaintiff to be NIS 64 million.

7:36 am uniQure reports Q3 results; will update Hemophilia B program in early January (QURE) :

• uniQure Q3 EPS 1.08 vs (0.72) Capital IQ Consensus; rev +215% to 3.15 mln vs 3.55 mln two analyst estimate.
• Hemophilia B Program Update
  • The first cohort of five hemophilia B patients has been dosed in the Phase 1/2 study of AMT-060. In early January 2016, the Company plans to release preliminary, top-line data for the two patients who will have completed at least 12 weeks of treatment follow-up. The data readout will include safety results and FIX expression levels. No additional data from the remaining cohort patients or other measures of the trial will be reported at that time. The Company expects to report on the full results of the first cohort at a scientific conference during 1H 2016.
• Sanfilippo B:
  • uniQure is aggressively moving forward with its plans to complete the in-license of the data from the Company's collaborator, prepare the future pathway with regulatory authorities and complete close follow-up of the patients through the end of the 30-month study, expected around year-end 2016.

7:33 am Pembina Pipeline announce approval for a capital program of ~$2.1 billion in 2016 (PBA) :

Pembina's 2016 capital spending plan is expected to be allocated as follows: Conventional Pipelines $1.375 bln, Midstream $485 mln, Gas Services $115 mln, Oil Sands and Heavy Oil $115 mln, Other $35 mln.

• The majority of capital spending will be allocated to the Phase III expansion of the Company's Peace and Northern Pipeline systems ("Phase III Expansion"). In 2016, the Phase III Expansion construction will be focused on building the new 24-inch and 16-inch pipelines in the Fox Creek to Namao corridor, subject to regulatory and environmental approval. Pembina also expects to complete the Vantage pipeline expansion in early 2016 and place it into service by the third quarter of 2016.

7:32 am Hanger amends and restates consent solicitation relating to its $200 mln 7.125% Senior Notes due 2018 (HGR) :

Co announces the amendment and restatement of the terms of its previously announced consent solicitation relating to its $200 mln aggregate principal amount 7?% Senior Notes due 2018 to amend, among other things, (i) the consent fees payable pursuant to the Consent Solicitation, (ii) the proposed increased interest rate on the Notes and (iii) the expiration date of the Consent Solicitation.

• The proposed amendment and waiver to the indenture pursuant to which the Notes were issued will amend, effective as of November 15, 2015, the reporting covenant in the indenture to extend the Co's deadline to deliver to the noteholders periodic reports required to be filed or furnished with the SEC until the earliest of such time as the Co is current in its filings with the SEC, Co fails to timely pay a second consent fee if due on May 15, 2016, and September 15, 2016.
• In connection with the Co's failure to comply with the financial reporting covenant under the indenture, on November 25, 2015, Co received a notice of default from a single noteholder who holds greater than 25% in aggregate principal amount of the Notes. Pursuant to the terms of the indenture, the failure of the Co to comply with this covenant for a period of 90 days after the Notice Date will constitute an event of default under the indenture.

7:29 am On The Wires (:WIRES) :

• Incyte (INCY) will present data from its ongoing clinical development program w/ Novartis (NVS) for Jakafi at ASH December 5-8, 2015. Five year COMFORT-II data in myelofibrosis and multiple ruxolitinib combination studies in MPNs and other hematologic malignancies accepted as oral and poster presentations. 
• Bristol-Myers Squibb (BMY) will present data for elotuzumab in patients with relapsed or refractory multiple myeloma; for Opdivo (nivolumab) for an investigational use in patients with R/R classical Hodgkin lymphoma; and for Sprycel (dasatinib) in chronic myeloid leukemia at ASH.
• Kura Oncology (KURA) announced that the first patient has been dosed in an investigator-sponsored Phase 2 trial of its lead drug candidate, tipifarnib, an inhibitor of protein farnesylation, in cancer patients with urothelial carcinoma tumors characterized by HRAS mutations.
• One Horizon Group (OHGI) granted exclusive rights as the Inventor of "Method and Devices for Routing in a Satellite-Based Communication System" by the USPTO of US Patent (No: US 9,137,729 B2).

7:25 am iKang Healthcare Group confirms the receipt of a take-over bid from a consortium for $22 per ADS (KANG) : The Jiangsu Sanyou Constortium Group proposal letter states that the Jiangsu Sanyou Buyer Group intends to finance its proposed transaction with equity capital from the members of the group. The special committee of independent directors, which was formed to consider the Founder Buyer Group Proposal, will carefully consider and evaluate, with the assistance of the special committee's independent financial and legal advisors, the Jiangsu Sanyou Buyer Group Proposal, the Founder Buyer Group Proposal and the Company's strategic alternatives.

7:16 am Northwest Biotherapeutics plans to expand board and states the Co welcomes Woodford's call for independent investigation of allegations in anonymous internet report (NWBO) :

Co announces that the BOD plans to add an additional independent director and the Co welcomes Neil Woodford's call for an independent investigation of allegations in a recent anonymous internet report on NW Bio.

• Co stated, "We agree with Mr. Woodford that, at NW Bio's current stage of development, expanding our Board to include another independent director with financial expertise can be quite helpful for the Company's continued growth."
• Co also commented, "We also welcome Mr. Woodford's proposal for an independent investigation of claims made in a recent internet report."

7:15 am Ferrari enters into a EUR 2.5 billion syndicated loan facility (RACE) :

The facility comprises a bridge loan and a term loan of 2 billion in aggregate and a revolving credit facility of 500 million. Proceeds of the Bridge Loan and Term Loan will be used to refinance indebtedness owing to Fiat Chrysler Automobiles N.V. (FCAU) and other indebtedness and for other general corporate purposes.

• Proceeds of the RCF may be used from time to time for general corporate and working capital purposes of the Ferrari group. The Bridge Loan has a 12 month maturity.

7:03 am Biocept announces the allowance of a patent that covers microchannels for the capture of molecular targets, by regulatory authorities in Hong Kong and Japan (BIOC) :  

7:02 am Horizon Pharma receives European Commission approval for RAVICTI (HZNP) : The European Commission (EC) has adopted a binding decision to approve RAVICTI (glycerol phenylbutyrate) Oral Liquid for use as an adjunctive therapy for chronic management of adult and pediatric patients two months of age and older with six subtypes of Urea Cycle Disorders (UCDs). This decision follows the Positive Opinion previously adopted on Sept 24, 2015 by the Committee for Medicinal Products for Human Use of the European Medicines Agency.

7:02 am Sunesis Pharma announces the European Patent Office has granted it a pataent for certain combined uses of vosaroxin and cytarabine (SNSS) : Co announced that the European Patent Office (:EPO) has granted European Patent No. 2 049 109 B1, claiming certain combined uses of vosaroxin and cytarabine, at doses of 10-120 mg/m2 and 5-1500 mg/m2, respectively, for the treatment of acute myelogenous leukemia and acute myeloblastic leukemia. The patent further provides for combinations of vosaroxin and cytarabine with other therapies, such as radiation, or other chemotherapeutics, including anti-cancer agents, in hematologic disorders, whether administered simultaneously or sequentially.

7:01 am Ignyta Selected as First Investigational Cancer Agent to be Included in EORTC SPECTA Precision Medicine Clinical Trial Program (RXDX) :

Co and the European Organisation for Research and Treatment of Cancer announces collaboration via EORTC's Screening Patients for Efficient Clinical Trial Access biomarker screening initiative to identify patients who harbor a gene rearrangement to NTRK1, NTRK3, ROS1 or ALK and therefore may be eligible for Ignyta's global STARTRK-2 Phase 2 clinical study.

• Under the collaboration between SPECTA and Ignyta, eligible patients testing positive for a gene rearrangement to NTRK1, NTRK3, ROS1 or ALK are to be exclusively recommended for enrollment in the STARTRK-2 clinical trial.
• The collaboration will focus initially on SPECTA's currently active programs to screen patients with colorectal cancer (SPECTAcolor) and lung cancer (SPECTAlung) and will expand to include additional tumor types in the future as additional SPECTA cohorts become activated.
• The collaboration will extend throughout the accrual phase of the STARTRK-2 study.

7:01 am American Residential Properties: 7.4% holder Land & Buildings sends a letter to the Board, stating it believes American Residential Properties has ~45% upside to NAV (ARPI) :

The group stated it believes American Residential Properties has ~45% upside to its net asset value, and that it anticipates nominating director candidates to ARPI Board if clear path to NAV realization is not outlined or achieved.

• Statement highlights included: "We believe ARPI stock has approximately 45% upside to a $24 NAV and that upside grows every day as home prices continue to rise. However, we are disappointed by both the Company's poor operational performance and its lack of a clear strategic plan. Our numerous discussions with you, your management team and members of the Board of Directors have not yielded satisfactory results to date. If a clear path to NAV realization is not outlined or achieved, we anticipate nominating a slate of director candidates for the Board of ARPI."

6:59 am Sharps Compliance is awarded a $ 7 mln, 5 year blanket purchase agreement from the US Dept of Veterans Affairs, for its Takeaway Medication Recovery System Envelopes (SMED) :  

6:58 am On The Wires (:WIRES) :

• Webhelp, the global business process management and outsourcing solutions group, announced that it has entered into an agreement with KKR (KKR) as new investor and financial partner. The Webhelp management team will now become controlling shareholders, alongside KKR, while Charterhouse Capital Partners will step back after over four years of successful collaboration with the company. Terms of the transaction were not disclosed.
• Dow Chemical (DOW) announced late last week that relative to EPA's recently filed motion to vacate the registration of Enlist Duo herbicide, it is confident in the extensive data supporting this new technology and is working quickly with EPA to provide assurances that our product's conditions of registered use will continue to protect the environment, including threatened and endangered plant species.
• Baxalta Incorporated (BXLT) announced the launch and first shipments of Adynovate, an extended circulating half-life recombinant factor VIII treatment for hemophilia A.The treatment was approved by the U.S. Food and Drug Administration in November.
• Yingli Green Energy Holding Company (YGE) announced that its wholly owned subsidiary, Yingli Green Energy Europe GmbH and R.Power Sp. z o.o., have agreed to expand their joint project development pipeline in Poland from 30 to 60 megawatts

6:57 am Evans Bancorp appoints John Connerton as Chief Financial Officer (EVBN) : Connerton joined Evans in 2002 and was most recently Senior Vice President of Finance, Treasurer and Controller. The Company has also appointed Nicholas J. Snyder Senior Vice President and Controller.

6:54 am Teva Pharma commences an offering of $3.375 billion in ADS' and $3.375 billion in Mandatory Convertible Preferred Shares (TEVA) :

Co has commenced an offering of $3.375 billion of its American Depositary Shares, each representing one Teva ordinary share, and approximately $3.375 billion of its Mandatory Convertible Preferred Shares.

• Teva intends to use the net proceeds from these offerings towards the cash portion of the purchase price for its previously announced acquisition of Allergan plc's (AGN) worldwide generic pharmaceuticals business, and to pay related fees and expenses, for the pending acquisition of Rimsa or otherwise for general corporate purposes.

6:52 am Seacor Hldgs subsidiary agrees to issue $175 mln in 3.75% convertible notes (CKH) :

Co enters into an agreement to issue $175 mln in convertible notes to investment funds managed and controlled by The Carlyle Group.

• The notes have a 7 year duration, a coupon of 3.75% and will be convertible into shares of SMH common stock at an initial conversion rate of 23.26 shares per $1,000 principal amount of notes.
• The transaction contemplates the eventual separation of SMH from Co's other business lines, potentially via a spin-off of SMH or via a spin-off of SEACOR Holdings' other business lines.
• A final decision to effect or implement the separation has not been made and, if the contemplated spin-off of SMH does not occur within two years, the holders of the notes will have a one-time right to require SMH to repurchase the notes at par plus any accrued and unpaid interest and an on-going right to exchange the notes for shares of Cocommon stock at an initial exchange rate of 12.82 shares per $1,000 principal amount of notes (equivalent to an exchange price of $78.00/share).

6:51 am Chatham Lodging closes on a new $250 million senior unsecured revolving credit facility, with maturity in 2020; rate at LIBOR +155 to 230 bps (CLDT) :  

6:47 am Scorpio Tankers announces options to construct an additional 4 MR product tankers, expiring in December, will not be exercised and Co receives commitment to a loan facility up to $36.0 mln (STNG) :

Co announces updates of its Newbuilding Program and Fleet, and a commitment for a new loan facility.

• Co's options to construct an additional four MR product tankers, expiring in December, will not be exercised.
• Co receives a commitment to borrow up to $36.0 mln.

6:46 am Tallgrass Energy Partners increases its revolving credit facility from $850 million to $1.1 billion (TEP) : The firm has increased its revolving credit facility from $850 million to $1.1 billion, and has an option to further increase the revolving credit facility by up to an additional $400 million of commitments to $1.5 billion. As of Sept. 30, 2015, TEP had $696 million drawn on its revolving credit facility.

6:31 am Carriage Services acquires Bright Funeral Home & Cremation Center for undisclosed sum (CSV) : Bright Funeral Home & Cremation Center is a funeral services provider in Wake Forest, North Carolina.

6:30 am Invuity appoints Gregory Lucier as Chairman of its Board of Directors, effective December 31, 2015 (IVTY) : Lucier, who is the chief executive officer of Nuvasive (NUVA), has served on the Invuity board since October 2014. He will take the place of Gregory B. Brown, M.D., who will resign from the Board effective December 31, 2015.

6:19 am GigaMedia Chairman Mo-Na Chien retires effective December 1 (GIGM) : The Company's Board of Directors has appointed Mr. Collin Hwang, the current Chief Executive Officer of the Company to chairman's position following the retirement of Mr. Mo-Na Chien effective December 1, 2015. The Company also announced resignation of two board members, Mr. King Wai Alfred Wong and Mr. Dirk Chi-Ching Chen, effective December 1, 2015.

6:09 am On The Wires (:WIRES) :

• Liberty Metals & Mining Holdings, LLC, a subsidiary ofBoston-based Liberty Mutual Insurance has acquired 25% of the shares in YaraDallol B.V. for $51.25 million. Yara's share of the proceeds is $35.4 million. Followingthis transaction Yara (YARIY) will hold 51.8% of the shares, LMM 25% and XLRCapital Limited 23.2% in Yara Dallol.
• Swatch SA (SWGAY) and Visa (V) together with Visa Europehave signed an agreement giving eligible Visa cardholders in the U.S.,Switzerland and Brazil the ability to tap and pay with Swatch's newpay-by-the-wrist watch, Swatch Bellamy. Slated to launch in early 2016,Swatch Bellamy can be used globally, anywhere contactless, NFC-based Visapayments are accepted.
• Lufthansa (DLAKY) and the German trade union ver.di agreedon an increase in remunerations for about 30,000 staff members from Lufthansa,Lufthansa Cargo, Lufthansa Technik and LSG Sky Chefs. As part of acomprehensive package, they also entered into a fundamentally reformedcollective labour agreement regarding the corporate pension scheme.
• GameStop (GME) announced it is extending Cyber Monday dealsall week long, allowing customers to get reduced prices on several productsthrough Sunday, December 6.
• Elbit Imaging Ltd. (EMITF) announced that it was informed byInSightec Ltd., that the Korean Ministry of Food and Drug Safety has approvedits Exablate Neuro system to treat movement, pain and behavioral disorders.
• W. R. Grace & Co. (GRA) announced that Zain Mahmood hasbeen named President, Specialty Building Materials and Global Operations of GCPApplied Technologies Inc., the public company to be formed by the plannedspin-off in early 2016 of Grace's Construction Products segment and its DarexPackaging Technologies business.
• Dana Gas announced that in relation to the arbitrationdispute between it, Crescent Petroleum and RWE SUPPLY & TRADING GmbH (RWEOY),an amicable and mutually beneficial settlement agreement has been reached withRWEST to address all claims and bring the arbitration to a close. As part ofthe settlement, RWEST Middle East has also joined the Pearl Petroleumconsortium as a full partner for 10%.
• Metso (MXCYY) received an order for a Metso NW220GPDportable crushing and screening plant to be delivered to Saburkhan Technologiesat Aktas, Saran city, Kazakhstan. This order is among the first containerizedwheel-mounted crushing plants to be transported overseas.

6:07 am Hoegh LNG Partners restates financial statements for the years ended December 31, 2014 and 2013 and quarter ended June 30, 2015; reaffirms recommendation to increase quarterly distribution (HMLP) :

The restatement adjusts the Partnership's financial statements for: certain Indonesian value added taxes and withholding taxes that were not recorded correctly; recognition of related revenue for reimbursable tax amounts; and related adjustments to the Partnership's direct financing lease and amortization of deferred debt issuance costs.

• The Partnership is indemnified by Hegh LNG Holdings Ltd. for certain non-budgeted, non-creditable Indonesian VAT and non-budgeted Indonesian WHT, including any related impact on cash flow, for the periods and as further described in the Form 20-F/A. The Partnership filed a claim for, and received payment from HLNG with respect to, such indemnification for approximately $1.2 million in the fourth quarter of 2015. The indemnification payment received from HLNG will be recorded as a contribution to equity in the fourth quarter of 2015.
• The change to the accounting for the Indonesian WHT and VAT is not expected to materially affect the Partnership's cash flows, liquidity or distributable cash flow on a prospective basis.
• As a result of the closing of the acquisition of the entity that owns the FSRU Hegh Gallant, management of the Partnership reaffirms its previously announced intention to recommend to the Board of Directors of the Partnership that it consider an increase to $0.4125 per unit in the Partnership's quarterly cash distribution effective for the distribution with respect to the quarter ending December 31, 2015.

6:02 am Lombard Medical presents efficacy and safety data from the three-year follow up of the U.S. PYTHAGORAS pre-marketing approval trial of Aorfix (EVAR) :

The data, presented by Mark F. Fillinger, M.D., principal investigator of the Aorfix PYTHAGORAS trial, Director of Vascular Surgery Training Programs, and Professor of Surgery at Geisel School of Medicine, Dartmouth, at the VEITHsymposium, showed 100% freedom from Type I & III endoleaks, 92.9% freedom from aneurysm sac expansion and 92.9% freedom from device migration in patients with 60 to 131 degree aortic neck angulations, a group typically considered difficult-to-treat and associated with poor treatment outcomes. Freedom from all-cause mortality was 78.1% in this group.

• Results for the patient group with more standard neck anatomy, including neck angulations less than 60 degrees, were equally impressive. Freedom from sac expansion was 93.0% in this group, while freedom from all-cause mortality was 86.6%. Freedom from device migration was 95.2% for this subset of patients.
• Lombard anticipates publication of the five-year outcomes in 2016 and continues to collect data on effectiveness and safety for up to five years post-implant.

6:01 am SuperCom anounces it has been awarded $8 mln in new contracts; expects full value recognition in 1H16 (SPCB) :  

5:57 am BHP Billiton updates on the Samarco incident, confirms the Brazilian government intends to commence legal proceedings seeking $5.2 bln in damages (BHP) :

Samarcohas advised that, at this stage, there are 13 fatalities and six people whoremain unaccounted for. Emergency services continue to search for the sixmissing people. Samarcocontinues to work with the Government authorities in Brazil to relocatedisplaced people from temporary accommodation to rented housing. Relocation isexpected to be completed in February 2016.

• Samarcoreports that analysis by SGS Geosol, a company specialising in environmentalgeochemistry, has confirmed that the tailings are composed of materials thatare not hazardous to human health, based on the hazard classification of thematerial under Brazilian standards.
• TheBrazilian Federal Government and certain State governments have announced that,on 30 November 2015, they intend to commence legal proceedings against Samarco,Vale and BHP Billiton for clean-up costs and damages. The announcementindicates that the legal action will demand that the companies establish a fundof BRL 20 billion in aggregate (~$5.2 billion at currentexchange rates) for environmental recovery and compensation. BHP Billiton hasnot received formal notice of the action at this stage.
  

5:49 am S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +5.50. :

5:49 am European Markets : FTSE...6352.28...-22.90...-0.40%.  DAX...11362.33...+69.90...+0.60%.

5:49 am Asian Markets : Nikkei...19747.47...-136.50...-0.70%.  Hang Seng...21996.42...-71.90...-0.30%.

5:46 am China Digital TV provides further update on its asset restructuring with Shanghai Tongda Venture Capital (STV) :

On November 30, 2015, Tongda Venture announced that it did not obtain the approval of the China Securities Regulatory Commission for the Non-public Offering within the validity period of its shareholders' approval. Tongda Venture decided to terminate its non-public offering related to the Restructuring and applied to withdraw its submitted materials from the CSRC.

• As provided for in the transaction agreements pertaining to the Restructuring, one of the conditions for the completion of the Restructuring is the CSRC's approval of Tongda Venture's non-public offering. Unless the parties mutually agree to an extension, the Restructuring will automatically terminate if it has not been completed by December 31, 2015.

5:20 am Delta Lloyd to launch a rights issue to raise up to EUR 1 bln of additional equity capital (DLLLF) : Delta Lloyd will introduce an updated dividend policy in 2016, which is expected to provide stable dividends for our shareholders, as it is supported by the underlying targeted Solvency II net capital generation of 200-250 million per year. We target 130 million dividend for 2016, subject to internal Solvency II thresholds, with the interim dividend 2016 payable in 2016 and final dividend 2016 payable in 2017.

5:19 am On The Wires (:WIRES) :

• Royal Philips (PHG) announced IntelliSpace Portal 8.0, the latest edition of its advanced data sharing, analytics and visualization platform that helps radiologists detect, diagnose and follow-up on treatment of diseases.
• NTT Communications Corporation, the global data and IP services arm of NTT (NTT), announced its participation as a Platinum Sponsor at the Capacity Asia 2015 Conference taking place in Bangkok, Thailand, 30 November to 2 December. Capacity Asia is one of the leading events for the wholesale IP service industry in the region.
• iQIYI, an independently operated subsidiary of Baidu (BIDU) announced that according to a recent report published by App Annie, iQIYI's mobile app was the 7th top app by revenue globally, gaining two spots from its 9th place ranking in July. 
• Sanofi (SNY) Pasteur announced that the first shipment of ShanIPV, a brand new injectable, inactivated polio vaccine manufactured by its affiliate Shantha Biotechnics, in Hyderabad, India, will occur in a couple of days. These first vaccine doses will be available to implement one dose of IPV in India's immunization schedule for all infants. 
• LyondellBasell (LYB) announced that it has acquired the polypropylene compounding assets of Zylog Plastalloys of India. LyondellBasell will double its automotive customer base in India and become the third largest producer of PP compounds in the country with an annual capacity of 44,000 metric tons. Terms were not disclosed.
• Toshiba (TOSBF) announced the launch of a new microcontroller, "TMPM37AFSQG", as the latest addition to its ARM (ARMH) Cortex-M3-based "TX03 series". Sample shipments will start in the middle of January 2016.
• Advanced Semiconductor Engineering (ASX) announced that 6 of its production facilities in Nantze, Kaohsiung; K4, K7, K8, K10, K11 and K12, have received the ISO 15408-EAL6 certification, becoming the first outsourced semiconductor assembly and test services company to achieve this significant recognition.
• Orange (ORAN) and ENGIE (ENGIY) announced the signing of a deal to expand rural electricity grid and optimise power supply to telecoms infrastructure in Africa
• BASF (BASFY) unit Wintershall announced the Edvard Grieg field in the Norwegian North Sea began production. Wintershall has a 15% share of the Edvard Grieg license

5:17 am Pfizer enters strategic drug discovery collaboration with Heptares Therapeutics to research and develop potential new medicines directed at up to 10 G protein-coupled receptor targets across multiple therapeutic areas (PFE) : Heptares will use its GPCR structure-guided platform to help deliver stabilised GPCRs, high-resolution crystal structures and other technologies to support the discovery of potential novel agents directed to the GPCR targets selected by Pfizer. Pfizer will be responsible for developing and commercialising any potential therapeutic agents (small molecules or biologics derived from StaR antigens) for each target and will have exclusive global rights to any potential resulting agents.

• Heptares will receive an initial payment on signing the agreement in return for delivering certain StaR proteins and structures for targets selected by Pfizer that it has already generated. Heptares is eligible to receive potential research, development, regulatory and commercial milestone payments of up to $189 million per target. In addition, Heptares is eligible to receive potential tiered royalties on the net sales of any products that are commercialised by Pfizer.
• In addition, Sosei and Pfizer Seiyaku KK have entered into an equity agreement under which Pfizer KK will purchase $33 million of newly issued Sosei common stock at a premium of 25% to the average closing price during the 20-day period prior to the closing date. The investment will represent approximately 3.02% of the enlarged Sosei share capital and is subject to review by Japanese financial authorities.

4:46 am Sibanye Gold provides updates on co's Platinum acquisitions; states significant progress made on advancing the transactions (SBGL) :

Sibanye (SBGL) provides an update on progress that has been made towards finalising the acquisitions of Anglo American Platinum (AGPPY) Rustenburg Platinum Operations and Aquarius Platinum, which were announced in September and October, respectively.

• The Aquarius transaction: Approval of the transaction by a simple majority (50 plus one) of votes cast by Aquarius shareholders. The special general meeting is expected to take place in January 2016
  • Approvals of the transaction by the South African Competition Commission and Competition Tribunal. The South African Competition Commission filing was submitted on 13 November 2015 and the approvals are expected to be obtained by the end of March 2016.
• The Rustenburg Operations transaction: the JSE Limited Category 1 circular relating to Sibanye Shareholder approval for the acquisition of the Rustenburg Operations is currently being finalized and is expected to be posted to Sibanye shareholders by mid- December 2015, with the shareholders meeting expected to take place in mid-January 2016
  

4:38 am NXP Semi CFO to retire in 2017; appoints Dan Durn as replacement (NXPI) :

NXP Semiconductors announced that effective December 7, 2015 Dan Durn will become executive vice president and Chief Financial Officer of NXP.

• Peter Kelly, NXP's current CFO, has expressed a desire to retire in 2017 and the appointment of Durn is part of the succession plan for the company.
• Kelly will continue to be a key member of the NXP Management Team. In his new role Mr. Kelly will focus on Strategy and M&A, as well as ensuring a successful integration with Freescale.
• Before joining NXP, Durn was senior vice president and CFO of Freescale Semiconductor (FSL)

4:28 am Brainstorm Cell Therapeutics receives second grant for $735K from Israel's Office of Chief Scientist (BCLI) :

Co announced that its wholly-owned subsidiary, Brainstorm Cell Therapeutics, has been awarded an additional grant of ~$735,000 from Israel's Office of the Chief Scientist.

• This grant, the second this year, brings the total awarded by OCS to Brainstorm for 2015 activities to ~$1.8 million (~NIS7 million).

4:05 am Euronav appoints Carl Steen as Chairman (EURN) :

Co announces that the Board of Directors unanimously appointed Carl Steen as member of the Board and has elected him Chairman, following the resignation of the following non-independent directors: Peter Livanos, Marc Saverys and Julian Metherell, all of which shall take effect from the close of the meeting of the Board of Directors of the Company scheduled on December 3.

• The new Chairman has experience in finance and shipping as the former head of the Shipping, Oil Services and International Division of Nordea Bank
• These changes are part of a process to further increase the independence and diversification of the board as the Company has completed its migration to an independent public company with a highly liquid share and a wide shareholder base.

4:03 am Vermilion Energy CEO announces intention to retire March 1; Co's Pres/COO to succeed him as CEO (VET) :

Co announces its Co-founder and CEC Lorenzo Donadeo announced his intention to retire as CEO effective March 1, 2016, at which time he will transition to his new role as Chair of the board of directors.

• Larry Macdonald, the Company's current Chair will transition to the newly created role of Lead Director.
• In line with the Company's succession plan, the board of directors announced Anthony Marino, Vermilion's current President and Chief Operating Officer will assume the role of President and CEO upon Donadeo's retirement.

3:59 am Ball Corp to offer ~1.5 bln of USD-denominated Senior Notes due 2020 and euro-denominated Senior Notes due 2020 and 2023 (BLL) :

• The exact terms and timing of the offering will depend upon market conditions and other factors.
• Ball intends to use the net proceeds from the offering, together with borrowings under its credit facilities and cash on hand, to fund the cash portion of the purchase price payable in connection with the consummation of Ball's acquisition of Rexam (REXMY).
  

3:55 am Teva Pharma and Takeda (TKPYY) form partnership to provide generics in Japan; Expected to Start Operating in Q2 of 2016 (TEVA) :

Teva Pharmaceutical (TEVA) and Takeda Pharmaceutical Company (TKPYY) announced that the two companies have entered into a definitive agreement to establish an unprecedented partnership in Japan.

• The strategic move will form a new business venture to meet the wide-ranging needs of patients and growing importance of generics in Japan.
• Subject to standard regulatory approvals, the business venture is expected to start operating in the second calendar quarter of 2016, and will offer patients and the healthcare system the portfolio of Teva's high-quality generic medicines and Takeda's long listed products.
• Teva will have a 51% stake in the new company and Takeda will have 49%.
• The business venture will operate as an independent company with its own Board of Directors, Chief Executive Officer, and Executive Leadership team.
• Given that the deal will not become effective until April 2016, there is no expected material financial impact for both Teva and Takeda in 2015.

3:40 am 58.com beats by $0.33, beats on revs; guides Q4 revs in-line (WUBA) :

• Reports Q3 (Sep) loss of $0.50 per share, $0.33 better than the Capital IQ Consensus of ($0.83); revenues rose 195.7% year/year to $212.9 mln vs the $201.72 mln Capital IQ Consensus.
• Co issues in-line guidance for Q4, sees Q4 revs of $240-245 mln vs. $242.12 mln Capital IQ Consensus Estimate.

3:32 am TPG Specialty Lending sends letter to TICC (TICC) BOD; TSLX ready and willing to engage with TICC toward making the TSLX proposal a reality (TSLX) :

TPG Specialty Lending (TSLX) sent a letter to the Board of Directors of TICC Capital Corp (TICC) in which TSLX urged TICC to provide an update to stockholders regarding the status of the proposed transaction with Benefit Street Partners, the associated special meeting of stockholders and whether TICC intends to change the status quo at the company should the BSP transaction not move forward. (Partial letter below)

• "We are surprised and disappointed that the members of the Special Committee continue to ignore our proposal and have failed to acknowledge or respond to our revised offer, which we publicly announced on November 2, 2015, approximately one month ago...Your silence has undoubtedly left the impression with your stockholders that you are negotiating a material transaction as evidenced by the recent movement in TICC's stock price from $6.39 per share to $6.93 per share.1 Knowing we have the only credible proposal on the table and you are not negotiating with us, we presume your silence means that the BSP transaction is dead and you wish to return to the status quo...If the TICC Special Committee does not enact such changes immediately, it will be clear that such endorsements were not genuine and were only promised to facilitate a value transfer from stockholders to the other members of the Board..."
  
  

3:15 am Siemens recieves FDA approval for Multitom Rax Robotic X-ray System (SIEGY) : Co announced that the FDA has cleared the Multitom Rax, a universal diagnostic imaging system that enables a wide range of examinations in multiple clinical areas, from emergency medicine and interventional to pain management and orthopedics, and from conventional 2D radiography to fluoroscopy examinations and angiography applications

3:13 am Blue Square-Israel divests its interest in Diners Club Israel for NIS130 mln (BSI) :

Alon Blue Square Israel announced that it reached an agreement regarding the sale of its interest in Diners Club Israel.

• Under the terms of the transaction, the Company (which holds 36.75% of the share capital of Diners) and Dor Alon Financing (a wholly owned subsidiary of Dor Alon Energy In Israel which holds 12.25% of the share capital of Diners) would sell their respective shareholdings in Diners to Credit Card for Israel for aggregate consideration of NIS130 million to be distributed pro rata between the Company and Dor Alon.
• The Company's pro-rata share in the consideration shall be NIS 97,500,000

3:05 am iKang Healthcare Group receives take-over bid from consortium for $22 per ADS (KANG) :

Jiangsu Sanyou Group Co announced that it is a member of a consortium which has submitted a preliminary non-binding proposal to acquire iKang Healthcare Group (KANG).

• The Proposal offers compelling value to iKang shareholders. Under the Proposal, the consortium will acquire all the outstanding shares and ADSs of iKang in cash for $22 per ADS or $44 per Share. It represents a highly attractive premium of approximately 36.9% to the unaffected closing price on August 28, 2015, the last trading day before iKang publicly announced receipt of the Insider Proposal, and a premium of approximately 23.6% to the Insider Proposal.
• The consortium includes Meinian Onehealth Healthcare, Shenzhen Ping An Decheng Investment Co, Taiping Guofa Capital Management Co, Huatai Ruilian Fund Management Co, Sequoia China Investment Management and Cathay Capital Private Equity SAS

2:50 am Telus to purchase up to 3.75 mln Common Shares under Normal Course Issuer Bid via private placement (TU) : The common shares purchased will be counted towards the 16 million common shares (subject to a maximum aggregate purchase price of $500 million) that TELUS is entitled to purchase for cancellation over a 12-month period

2:47 am Avalon Rare Metals to voluntarily delist from NYSE (AVL) : Avalon expects to file the Form 25 on December 7, 2015. Avalon expects the delisting will be effective approximately 10 days after the filing of the Form 25.

2:45 am Magna receives issuer bid exemption from Ontario Stock Echange permitting co to make private placement purchases (MGA) :  

2:43 am Trecora Resources temporarily shuts down its AMAK Plant in Saudi Arabia (TREC) :

Co announced a temporary shutdown of the Al Masane Al Kobra Mining Company (:AMAK) zinc and copper plant in Saudi Arabia. The contract with the existing mine operator was also terminated. The Company is the original developer and a 35% owner of AMAK, a Saudi Arabian joint stock company.

• Zinc and copper mill will undergo extensive renovations leading to improved production and precious metal recovery

2:41 am Bristol-Myers receives Complete Response Letter from FDA for Opdivo (BMY) :

Co announced that the FDA has issued a Complete Response Letter for its supplemental Biologics License Application for Opdivo as a single agent for the treatment of previously untreated patients, specifically those with BRAF V600 mutation positive unresectable or metastatic melanoma.

• As part of the Complete Response Letter, the FDA indicated the need for additional data in the BRAF mutated patient population. Bristol-Myers Squibb is working to evaluate the request outlined by the FDA and will continue to work closely with the agency to determine whether additional data, currently under review, adequately addresses these comments.
• A separate sBLA, which included data from CheckMate -067 evaluating Opdivo as a single agent and in combination with Yervoy in patients with previously untreated advanced melanoma, was accepted by the FDA for review in September and granted Priority Review with a target action date of January 23, 2016. Data for Opdivo monotherapy in both BRAF wild-type and BRAF V600 mutation positive advanced melanoma was included as part of this application.
  

2:17 am On The Wires (:WIRES) :

• Lenovo (LNVGY) and Razer revealed their first-ever gaming desktop prototype that will officially launch at CES 2016. The two companies announced that together they will co-brand and co-market special Razer Edition models of Lenovo's Y series gaming devices
• The GE (GE) Health Cloud was unveiled exclusively for the healthcare industry. The new cloud ecosystem and its applications will connect radiologists and clinicians to speed, efficiency and collaboration across care pathways and multidisciplinary teams -- both inside and outside the hospital setting.