Trading for the Masses

16:32 KFS Kingsway announces additional C$70 mln credit facility (12.14 +0.20)

Co announced that it has entered into a 365 day C$70 mln credit facility agreement with a syndicate of banks. This credit facility is supplemental to the existing US$175 mln credit facility that matures in June, 2009.
16:18 CKP Checkpoint Systems reaffirms 2007 EPS guidance; guides 2008 EPS above consensus; co announces Robert van der Merwe was elected President and Chief Executive Officer (22.73 -0.60)

Co announced today that the Company’s Board of Directors has elected Robert (Rob) van der Merwe to the position of President and Chief Executive Officer of the Company, effective immediately. Mr. van der Merwe, age 55, succeeds George Off, age 60, who will continue to serve as the Chairman of the Company’s Board of Directors. The hiring of Mr. van der Merwe as CEO fulfills the Chief Executive Officer succession plan developed by Checkpoint’s Board of Directors. Co reaffirms prior 2007 EPS guidance of $1.33-1.38 vs $1.38 consensus. Co issues upside guidance; co guides 2008 EPS of $1.65-1.75 vs $1.62 First Call consensus; co guides double-digit revs growth for 2008.
16:07 THRX Theravance receives notice of possible telavancin review by FDA advisory committee (21.34 -0.36)

Co announced that it has received notice from the U.S. Food and Drug Administration (FDA) that the agency’s Anti-Infective Drugs Advisory Committee may soon meet to review the NDA for telavancin. Further details will be provided by THRX upon receipt of additional information from FDA.
16:05 CHRD Chordiant Sftwr announces “largest agreement in the co’s history”; reiterates guidance for full fiscal year 2008 (8.12 -0.15)

Co announces that it has entered into a Global Framework Agreement with a leading telecommunications company for a record EUR $26.1 mln at the exchange rate when signed. Under the terms of the agreement, Chordiant has agreed to provide perpetual enterprise licenses and support for the Decision Management and Marketing Director product suites for up to 18 group companies or subsidiaries in Europe, Asia, Africa and Australian/New Zealand. Revenue is expected to be recognized when the individual Subsidiaries enter into license agreements with Chordiant, the associated amounts become due and payable, and the software is delivered to each individual Subsidiary, or at predetermined dates as specified in the agreement. In addition, the co also issues downside guidance for Q1 (Dec), sees EPS of $0.03-($0.04), excluding non-recurring items, vs. $0.12 First Call consensus; sees Q1 (Dec) revs of $27.5-29.0 mln vs. $32.04 mln consensus. Co reaffirms guidance for FY08 (Sep), sees EPS of $0.60-0.76, excluding non-recurring items, vs. $0.74 consensus; sees FY08 (Sep) revs of $140-150 mln vs. $147.08 mln consensus.
16:04 LUB Luby’s reports Q1 (10.01 +0.01)

Reports Q1 (Nov) earnings of $0.17 per share, includes items, may not be comparable to the First Call dual-analyst est of $0.08; revenues fell 0.4% year/year to $73.4 mln vs the $74.2 mln dual-analyst est.
16:03 CBK Christopher & Banks beats by $0.01, reports revs in-line; guides Q4 EPS below consensus (12.92 )

Reports Q3 (Nov) earnings of $0.29 per share, $0.01 better than the First Call consensus of $0.28; revenues rose 14.9% year/year to $160 mln vs the $160.7 mln consensus. Co issues downside guidance for Q4, sees EPS of $0.02-0.05 vs. $0.07 consensus. In addition, the Company announced that, based on sales to date and its projections for the balance of the month, fiscal December same-store sales are anticipated to decline 1 to 2%. The Company announced that, at the beginning of fiscal 2009, it will begin reporting consolidated sales and same-store sales on a quarterly basis. The Company’s last monthly sales release will be on March 6, 2008, for the fiscal month of February 2008. Sales for future quarters will be reported on dates on which the Company reports quarterly earnings.
16:01 CBK sees Q4 $0.02-0.05 vs $0.07 First Call consensus
16:01 SYNX Synergx reports EPS of ($0.05) vs ($0.10) in yr ago period; reports revs up 44% yr/yr to $6.40 mln with no estimates (1.82 )
16:01 CBK prelim $0.29 vs $0.28 First Call consensus; revs $160.0 mln vs $160.67 mln First Call consensus
16:00 FELE Franklin Electric receives phase II enhanced vapor recovery certification (38.57 -0.82)
16:00 ENDP Endo Pharm to develop and commercialize Alexza’s AZ-003 Staccato inhaled fentanyl product (26.86 +0.05)

Co announces that it has entered into a license and development agreement with Alexza Pharmaceuticals (ALXA) for the exclusive clinical development and commercialization rights in North America for Alexza’s AZ-003. Currently in Phase I clinical development, AZ-003 is a hand-held drug device system that uses Alexza’s proprietary Staccato? system inhalation technology to deliver fentanyl for the treatment of breakthrough pain in cancer and non-cancer patients. Under the terms of the agreement, Endo will pay Alexza an upfront fee of $10 mln, with additional payments of approx $40 mln upon achievement of predetermined regulatory milestones. Endo will also pay undisclosed royalties to Alexza on net sales of AZ-003. Effective immediately, Endo will assume responsibility for, and funding of, all remaining clinical trial development and regulatory filings. Alexza will manufacture the product for Endo and will be responsible for completing development of the device.