19:00 After Hours Summary: COSI up 1.8% on earnings/guidance; WCI up 18.9% (announces completion of amendment to revolving credit facility and term loan)
Companies moving in after hours trading in reaction to earnings: Trading Up: COSI +1.8%; KMP +1.2%… Trading Down: N/A… Companies trading in after hours on news: Trading Up: WCI +18.9% (announces completion of amendment to revolving credit facility and term loan); HMSY +2.5% (will replace MOGN in the S&P SmallCap 600); BEXP +1.8% (announces 3 Bakken discoveries and acreage growth); SD +1.5% (increases cap budget to $1.25 bln, raises production guidance to 95 Bcfe); CC +1.3% (names John Harlow EVP and COO); SALM +1.1% (discontinue printed version of CCM Magazine to focus on expanding Christian music websites)… Trading Down: ARO -3.1% (SEC has issued a formal order of investigation); LCC -2.2% (Chief says fuel costs could wipe out US airline profits - FT); MGA -1.8% (Cosma International and Shin Young Metal announce Hyundai Russia award); DRYS -1.4% (authorizes to increase shares to 1 bln and defer stock split); SPR -1.1% (assessing impact of 787 schedule shift).
18:33 SWC Stillwater Mining names Greg Struble EVP and COO (8.73 -0.35)
Co announced the appointment of Greg Struble as Executive Vice President and Chief Operating Officer with responsibility for the Co’s operations. Struble comes to Stillwater from Barrick Gold Corporation where he was Underground Project Manager of their Cortez Hills Joint Venture Project.
18:17 RNR RenaissanceRe expects to record Q4 charges (58.76 +0.56)
Co announced it expects to record two charges impacting its results for the fourth quarter of 2007, comprised of: A charge which would result in a full reduction of the Co’s carried value in ChannelRe, which was $126.7 mln at September 30, 2007; and a $55.0 mln charge to increase IBNR reserves for sub-prime-related exposures in the casualty clash reinsurance book of business.
18:04 FCEL FuelCell Energy receives $4 mln loan from the state of Connecticut (8.65 -0.11)
Co announced that it has received a $4 mln loan from the state of Connecticut. The loan is part of the co’s $10 mln project to expand FuelCell Energy’s Torrington, Connecticut manufacturing facility, expand its workforce and extend its facility lease through 2015.
17:50 BEXP Brigham Exploration announces 3 Bakken discoveries and acreage growth (7.25 -0.25)
Co announced its first three operated Mountrail County, North Dakota Bakken wells as discoveries, acreage growth in Mountrail County and extensional areas to approximately 67,500 net acres, a high working interest Red River discovery in Sheridan County, Montana, and a new Southern Louisiana joint venture.
17:44 HMSY HMS Holdings will replace MOGN in the S&P SmallCap 600 (34.83 +1.2 
HMSY will replace MOGN in the S&P SmallCap 600 after the close of trading on Tuesday, January 22. MOGN is being acquired by S&P Global 1200 constituent Eisai Co. in a deal expected to close on or about that date, pending final approvals.
17:39 VMSI Ventana Medical responds to extension of Roche’s unsolicited tender offer; discussions with Roche continue under confidentiality agreement (86.07 +0.15)
Co today responded to Roche’s fifth extension of its unsolicited tender offer to acquire all outstanding shares of Ventana for $75.00 in cash per common share.”Our Board of Directors continues to recommend that stockholders not tender any of their shares to Roche at this inadequate price. Our discussions with Roche under the confidentiality agreement are progressing, and we remain committed to providing superior value to our investors.”
17:33 MKTIN Market Internals
The Dow was down 1.92% at 12606, the Nasdaq was down 0.95% to close at 2394, and the S&P was down 0.56% to close at 1373. Leading sectors included: Healthcare Facilities +7.2%, Leisure Products +6.4, Specialty Stores +4.9%, Home Furnishing +4.0%, Food Retail +3.9%. Lagging sectors included: Fertilizer & Agriculture -8.6%, Coal & Consumable Fuels -7.2%, Semiconductors -7.0%, Diversified Metals & Minerals -6.4%, Construction & Engineering -6.4%. Today’s movement came from higher than avg volume (NYSE 2106, vs. 1542 avg, Nasdaq 3505, vs. 2267 avg), with advancers outpacing decliners (NYSE 1603/1573, Nasdaq 1650/1382) with new lows outpacing new highs (NYSE 36/387; Nasdaq 54/350).
17:16 NRP Natural Resource issues inline 08 rev guidance; increases distribution (28.50 -1.57)
Co issues in-line guidance for FY08 (Dec), sees FY08 (Dec) revs of $242-277 mln vs. $264.29 mln First Call consensus. The co also announced that the Board of Directors of its general partner has declared a fourth quarter 2007 distribution of $0.485 per unit for NRP, an increase of $0.01 in its quarterly distribution.
17:16 HRB H & R Block unit enters into new credit pact of $3 bln - Bloomberg (18.15 +0.64)
17:13 NRP sees FY08 revs of $242-277 mln vs $264.29 mln First Call consensus
17:08 LCC US Airways: Fuel costs could ‘wipe out’ US airline profits - FT (12.54 +0.03)
FT reports mounting fuel costs could wipe out the US airlines industry’s profits this year, forcing consolidation in the sector as carriers seek to cut costs, according to Doug Parker, the chief executive of US Airways. “Speaking for US Airways, fuel prices are going to be $800 mln or so higher than what they were in 2007,” Mr Parker told the Financial Times. “Everyone has that same equation. What we’re spending on oil this year, if all else stays equal, is more than enough to push them from a profit to a pretty big loss.” A weak US economy may prevent carriers from pushing through fare increases, which have helped the airlines weather oil’s climb last year, Mr Parker said. Running out of ideas for ways to cut costs or operating their fleets as fuel-efficiently as possible, the airlines may at last be ready to pursue consolidation to eliminate less-profitable routes and expand their footprints, he said. “You have a lot of people sitting around in boardrooms and looking at prospects for 2008 that don’t look very good,” Mr Parker said.
17:08 PBKS Provident Bank reports Q4 loss of $0.49 (17.31 +0.8
The co reports Q4 EPS of ($0.49), including multiple items which many not be comparable to the ($0.33) First Call consensus. The co took a $28.919 mln portfolio write down equal to $0.91/share.
17:07 SSY SunLink Health Systems to consider strategic alternatives (6.20 -0.05)
The co announces that it has retained Stephens for the purpose of advising the Board of Directors of SunLink in connection with an evaluation of the co’s strategic alternatives, including, among others, (i) the proposal by Resurgence Health Group to acquire SunLink for $7.50 per share in cash and (ii) whether it would be in the best interest of SunLink, its shareholders and other applicable constituencies to remain an independent public company and continue to pursue SunLink’s existing business plan.
17:04 SPR Spirit Aerosystems assessing impact of 787 schedule shift (27.65 +0.87)
The co announces that it will continue to work with Boeing to assess the 787 program schedule. Spirit President and CEO Jeff Turner said, “Although the additional delays in first flight and first delivery are disappointing for all of us, I continue to be pleased with Spirit’s overall performance on the program. Specifically, our structures’ design/build efforts are progressing well as we continue to work with our supply chain to meet program ramp-up requirements. Our major focus areas continue to be accommodating engineering changes and timely receipt of systems and wiring for installation.” As a result of the program’s schedule revisions, Spirit delivered two forward fuselage ground test units and one of the two flight test units that were anticipated in the 2007 guidance released in conjunction with third quarter 2007 financial results. The schedule revisions will not have a material impact on 2007 earnings. Spirit will be working with Boeing to assess the need for revised delivery schedules for 2008. After the assessment is complete, Spirit will, if necessary, provide updates to its 2008 revenue and earnings guidance. Discussions between Spirit and Boeing concerning impacts to Spirit’s cash flow are ongoing.
17:04 CAL Continental Air summarizes special charges and gains for Q4 and FY07, its release tomorrow will be pre-tax results (24.25 -1.02) -Update-
Co announces it will record a special non-cash tax charge in Q4, but has not finalized the amount given the technical nature of the issue. As a result, in its release tomorrow CAL will be presenting pre-tax results. By mid-February, CAL will finalize the computation of the special non-cash tax charge, and will report its net results in the company’s Form 10-K. Co will record a special non-cash tax charge in the fourth quarter to increase its tax valuation allowance, which acts as a reserve against the company’s deferred tax assets, in accordance with the provisions of Statement of Financial Accounting Standards No. 109, “Accounting for Income Taxes.” Co expects to record a special non-cash tax charge of between $70-140 mln to increase its valuation allowance. Co will also report gain on sales of aircraft and related charges, combining the fourth quarter gain with a $6 mln aircraft related charge in the first quarter resulted in a full year net gain of $22 mln. As for Pension plan settlement charges, CAL recognized $7 mln and $31 mln of unrecognized plan losses for the fourth quarter and full year 2007, respectively.
17:03 PBKS reports Q4 EPS ($0.49) vs ($0.33) First Call consensus
17:01 ANR Alpha Natural Resources: Correction (27.39 -2.13)
Yesterday afternoon (1/15) we incorrectly reported that Goodman & Company, Investment Counsel disclosed a 24.5% stake in ANR, when in fact Goodman’s stake related to American Natural Energy Corp, not ANR. Our original post has been removed.
17:00 AMGN Amgen and WYE report Enbrel significantly improved moderate to severe plaque psoriasis in children and adolescents (47.44 +0.11)
AMGN and Wyeth Pharmaceuticals, a division of Wyeth (WYE) announce data from a Phase 3 study which showed that children and adolescents with moderate to severe plaque psoriasis who received treatment with ENBREL experienced significant improvements in the signs and symptoms of their disease. There were no serious adverse events or serious infections during the 12-week placebo-controlled period and rates of adverse events were similar for ENBREL and placebo.
16:53 VMSI Ventana Medical: Roche extends tender offer for VMSI (86.07 +0.15)
Roche announces that it has extended its offer to acquire all of the outstanding common shares of VMSI to 5:00 p.m. ET on Friday, March 14, 2008. The tender offer was previously scheduled to expire at 5:00 p.m., ET, on Jan 17, 2008. All other terms and conditions of the tender offer remain unchanged. As of the close of business on Jan 16, 2008, approx 62,401 shares have been tendered pursuant to the offer.
16:52 PC market still strong in Q4 with solid growth across regions, according to IDC
Worldwide PC shipments grew by 15.5% in the fourth quarter of 2007, according to IDC’s Worldwide Quarterly PC Tracker. In EMEA the consumer and back-to-school rush that drove more than 20% growth in 3Q07 subsided, but shipments continued to expand rapidly - outpacing growth in the prior five quarters. Other mkts also performed well with growth in the United States rising to 8.8% and stronger than expected results in Japan and Latin America. On an annual basis, total shipments reached 269.0 mln units in 2007 with growth of 14.3%. HPQ took the top spot with volume of over 50.5 mln, with Dell in second with volume of 40.0 mln.
16:50 PIP PharmAthene announces that Delaware Court denies motion by SIGA Technologies seeking to dismiss PIP’s legal action in breach of contract lawsuit (3.30 +0.0
Co announces that the Delaware Chancery Court today issued a ruling denying a motion by SIGA Technologies (SIGA) to dismiss PIP’s complaint, which alleges that it has a right to an exclusive license to develop and market SIGA’s drug candidate, SIGA-246. SIGA’s request to dismiss the claim by PIP was denied in all respects by the Delaware Court. David Wright, President and CEO of PIP, stated, “… The decision by the Court to reject SIGA’s motion to dismiss our claims will now enable PharmAthene to proceed in its efforts to gain those rights to SIGA-246, to which we believe we are entitled based on agreements between PharmAthene and SIGA signed in 2006. We intend to aggressively pursue those rights.”
16:45 EFII Elec For Imaging: Blum Capital discloses 7.7% stake in amended 13D (13.10 +0.37)
The firm’s stake is up from 5.3% previously disclosed on 2/12/07.
16:44 AZPN Aspen Tech reports 2Q08 license bookings of approx $66 mln (13.24 +0.09)
Co reports license bookings of approx $66 mln during 2Q08, with license bookings defined as the total net present value of all license contracts signed in the qtr. This represents an increase of approx 10% compared to license bookings of approx $60 mln in 2Q07. Mark Fusco, CEO, said, “While the company’s finance organization is working diligently to bring the co’s financial statements up-to-date, the focus and execution of our customer facing operations remains at a high level…We continue to be optimistic about the long-term fundamental outlook for the Company based on our industry leading domain expertise, unique suite of aspenONE solutions and solid demand we continue to see in our core markets.”
16:40 EFJI EFJ receives Nasdaq continued listing letter regarding audit committee composition (1.44 -0.05)
Co announces it is now in compliance with marketplace rule 4350(d)(2) and the matter has been closed. Co received a letter from the Listing Qualifications Department of the Nasdaq on 1/14 stating that the co failed to comply with the audit committee requirements because it entered into a contract with DRS Technical Services in June of 2006, resulting in revenue to the co in excess of 5% of the co’s 2006 consolidated revenues. Mark Newman, a director of the co, has served and continues to serve as an executive officer of the parent Company of TAMSCO. Accordingly, Newman was precluded from being considered an “independent director” as defined under Nasdaq’s Marketplace Rule 4200(15)(d). Newman had previously stepped down from the co’s audit and compensation committees on October 26, 2007, and accordingly, as of October 27, 2007, the co was back in compliance with Nasdaq’s Marketplace Rule 4350(d)(2).
16:39 WCI WCI announces completion of amendment to revolving credit facility and term loan (2.44 +0.32) -Update-
The co announces that the co has successfully amended its Senior Secured Revolving Credit Agreement and Term Loan Agreement. These amendments, which extend through June 30, 2009, modify, suspend or waive certain covenants and provide the co with greater operating and financial flexibility to allow the co to continue to manage its business during this industry downturn. The co also reduced the total commitment available under the Revolver and the outstanding amount of the Term Loan, converted a portion of the Revolver to non-revolving status, and agreed to increase the pricing on the loans.
16:36 DFR Deerfield Triarc Capital sees ABS impairment of $75.5 mln (7.41 +0.50)
“Based on the continuation of unfavorable credit market conditions, and an evaluation of our intent and ability to hold RMBS in an unrealized loss position until recovery in value, the company has determined that certain available-for-sale RMBS are other-than-temporarily impaired. The impairment charge to earnings totaled approximately $75.5 mln on approximately $3.4 bln of RMBS.”
16:34 TRK Speedway Motorsp discloses in 8-k that Motorsports Authentics, the co’s joint venture with ISCA, anticipates taking a Q4 2007 impairment charge (29.66 +0.36)
From today’s 8-k, co says “Motorsports Authentics, the co’s equally-owned merchandising joint venture with International Speedway Corporation (ISCA) has advised that it anticipates taking a Q4 2007 impairment charge associated with certain intangible assets, the amount of which has not been finalized. In conjunction with a previously issued press release and conference call, co reported that it expected to take a fourth quarter charge of approximately $25-50 mln related to the Q4 impairment charge. Similarly, the co expects that it will take a Q4 charge of approximately $25-50 mln after tax, or $0.57-1.14/share.”
16:34 DELL Dell pulls away from HPQ in US PC sales; no softness seen - DJ (20.68 -0.22)
DJ reports Dell’s leading share of U.S. personal-computer sales jumped during the last three months of 2007, even while HPQ was hitting a two-year U.S. mkt-share high, according to new data released. Dell shipped 29.6% of all computers destined for the U.S. between Sept and Dec, a substantial jump from 28% a year ago, according to IDC. H-P shipped 24.3% of all the U.S.-bound computers at the same time, or about 8% more than a quarter earlier. Yet, it could gain only two-tenths of a percentage point in mkt share, according to IDC. U.S. IDC still expects U.S. personal-computer sales to grow by 8% this year in the U.S., but with some reservations. “The big question at this point is if we start seeing consumer confidence taking a hit,” Daoud said.
16:33 PRE PartnerRe announces $74 mln write-down of ChannelRe Investment (80.55 +0.16)
Co announces that it expects to record a non-operating charge of $74 mln to write-down its total investment in ChannelRe. PartnerRe owns a 20% equity interest in ChannelRe, a privately-owned financial guaranty reinsurer which provides reinsurance services exclusively to MBIA.
16:30 BLK BlackRock appoints John Thain to Board of Directors (203.70 +1.34)
Co announces the addition of John Thain to its Board of Directors. Thain is Chairman and CEO of Merrill Lynch (MER). “I have known John for 25 years and have great respect for his operating experience and deep understanding of the global capital markets,” commented Laurence Fink, Chairman and CEO officer of BLK. “I am pleased to welcome him to our Board and look forward to working with him both as our strategic partner and as a Director of BlackRock.”
16:30 ARO Aeropostale: In its 8-K, discloses that the SEC has issued a formal order of investigation (23.47 +0.26)
In its 8-K, discloses that it has learned that “the SEC had issued a formal order of investigation with respect to matters arising from those events disclosed in the co’s Form 8-K, dated November 8, 2006 which resulted from the activities of our former Executive Vice President and Chief Merchandising Officer. The SEC’s investigation is a non-public, fact-finding inquiry to determine whether any violations of law have occurred.”
16:28 Gartner says 4Q worldwide PC shipments rose 13.1% to 75.9 mln - DJ
Gartner says 2007 worldwide PC shipments rose 13.4% to 271.2 mln - DJ
16:24 SGP Schering-Plough: Lawmakers have Vytorin questions - WSJ (23.49 -0.29) -Update-
WSJ reports in letters dated today and addressed to the cos and the FDA, Reps. John Dingell and Bart Stupak, Michigan Democrats, raise questions about the ad campaign for Vytorin. Vytorin is in the news this week after the results of a long-awaited study, called Enhance, suggested that the drug may be no more effective than a generic statin at slowing the progression of heart disease. In the FDA letter, the lawmakers write that they’re “concerned that the study’s results may have been available to Schering-Plough and Merck (MRK) officials, and yet the massive advertisement campaign for Vytorin was allowed to continue.” They ask for agency records related to the Vytorin ads. In the letter to the cos, the congressmen ask for records related to the ads, but also for materials related to Enhance study leader John Kastelein — and for information about the press release this Monday that revealed the Enhance findings.
16:23 COSI Cosi issues upside Q4 rev guidance (1.89 -0.04)
Co issues upside guidance for Q4 (Dec), sees Q4 (Dec) revs of $33.43 mln vs. $31.98 mln First Call consensus.
16:21 COSI preannounces Q4 revs of $33.43 mln vs $31.98 mln First Call consensus
16:18 GAM General American Investors declares spill-over dividend of $0.215; extension of repurchase program for 500K shares (31.43 -0.55)
Co declared a spill-over dividend and distribution on its common stock totaling $0.215294 per share for 2007. The Board of Directors also authorized the repurchase of an additional 500,000 outstanding shares of common stock when the shares are trading at a discount from the underlying net asset value of at least 8%.
16:16 CPST Capstone Turbine announces appointment of Edward Reich to new Chief Financial Officer (1.53 +0.01)
Co notes Chuck McBride, current Executive Vice President and Chief Financial Officer, is leaving Capstone to join Synthetic Genomics Inc. McBride will remain with the company through February 11, 2008 to effect a smooth transition.
16:15 CC Circuit City names John Harlow Executive Vice President and Chief Operating Officer (3.74 +0.14)
Co announced that John Harlow has joined the company as executive vice president and chief operating officer. Harlow was most recently a retail director with Deloitte Consulting and has been involved with Circuit City over the past year.
16:15 NSHA Nashua announces settlement with Ricoh Company; no monetary liability (10.87 +0.25)
Co announces the settlement of patent litigation brought by Ricoh Company against NSHA and two other defendants. The litigation against NSHA concerned certain toner bottles that had been manufactured by the co prior to its exiting the toner business in 2006. NSHA has no monetary liability under the settlement agreement.
16:11 VSGN Vasogen reports Q4 EPS of ($0.27) vs ($0.25) single estimate (2.27 -0.03)
16:10 SALM Salem Comms to discontinue printed version of CCM Magazine to focus on expanding Christian music websites, in 8-k (4.17 +0.0
16:10 MGA Magna: Cosma International and Shin Young Metal announce Hyundai Russia award (74.67 +3.1 -Update-
Cosma International, an operating unit of the co and a global automotive metalforming supplier, and its joint-venture partner Shin Young Metal, a Korea-based automotive supplier, today announce a major new-business award from Hyundai Motor. Cosma and Shin Young Metal will supply major stampings and welded assemblies to Hyundai’s new assembly plant in St. Petersburg, Russia, which, is expected to be operational in 2010. Cosma and Shin Young Metal will supply Hyundai from a greenfield manufacturing facility to be built in close proximity to the Hyundai assembly plant.
16:08 AMPX Ampex announces expiration of Hillside Standstill Agreement (3.26 -0.10)
Co announces that the Amended Standstill Agreement with Hillside has been terminated effective Jan 14, 2008. Subsequent to termination of the Amended Standstill Agreement, on Ja 15, 2008, Hillside demanded immediate payment of approx $1.3 mln of outstanding principal due on the Hillside Notes, and demanded payment of approx $1.4 mln of accrued interest due on the Hillside Notes within 10 days. Hillside also reasserted its allegation, previously disputed by Ampex, that Ampex has breached its obligations under the Hillside/Ampex-Sherborne Agreement dated Dec 1, 1994. During the remainder of 2008, additional payments of principal and interest that are scheduled to be paid to Hillside are estimated to total $6.5 mln. If the Co fails to pay the $2.7 mln of principal and interest payments that are currently due or to cure the alleged breach, Hillside would be entitled to accelerate repayment of all outstanding Hillside Notes and accrued interest, which totaled $48.7 mln at Dec 31, 2007. Any acceleration by Hillside would allow holders of the Senior Notes to accelerate the maturity of those obligations, which totaled $6.7 mln at Dec 31, 2007.
16:06 SD SandRidge Energy announces operational update and 2008 guidance; increases cap budget to $1.25 bln, raises production guidance to 95 Bcfe (31.54 -0.86)
Co announced an operational update and 2008 guidance. The company has increased its 2008 capital expenditure budget to $1.25 bln from a previously announced $1.1 bln and raised its 2008 production guidance to 95 bln cubic feet of natural gas equivalent from 92 Bcfe. The increase in capital spending will be directed to a continued expansion of leasehold on the company’s planned 1,400 square mile 3-D seismic shoot and exploratory drilling on new 3-D defined projects within the West Texas Overthrust (WTO), outside its Pinon Field development.
16:06 LULU Lululemon Athletica at ICR Xchange Conference- reaffirms Y07 guidance given after Q3 report (33.45 +1.43)
Notes tax rate coming down in 2007′ was very high and distorted earnings; expect tax rate in the low 30s… notes they have no s-t debt and a strong cash position… positive cash flow in 2007 and going forward… see sales in $255-260 mln, First Call consensus is $261 mln; comps in the high 20s; $0.40-0.42 EPS, First Call consensus is $0.43.
16:05 DRYS DryShips announces the results of the special meeting of shareholders and decision to defer stock split (52.00 -2.26)
Co announces that a special meeting of shareholders held today approved an amendment to increase the authorized shares of common stock to 1 bln shares and the authorized shares of preferred stock to 500 mln shares. Although the co previously announced its intention to effect a 3:1 stock split in the form of a share dividend following today’s special meeting, the board of directors has determined that in light of recent developments in the trading price of the co’s common stock, it is in the best interests to defer the proposed stock split until a more favorable time in order to preserve shareholder value.
16:05 GCBC Greene County Bancorp increases cash dividend by 7.1% to $0.60 a share (12.00 -0.10)
16:04 LMT Lockheed Martin: Government Of Canada awards tactical airlift contract to Lockheed Martin, worth $1.4 bln (105.86 -0.95)
The Canadian govt announces that it has awarded a contract to the co for the acquisition of the Canadian Forces new tactical lift aircraft. The purchase contract for 17 C-130J Hercules aircraft is valued at approximately $1.4 bln U.S., with an additional amount to be added in 2009 for at least 20 years of in-service support.
16:04 KMP Kinder Morgan Prtnrs reports Q4 (Dec) results, beats on revs (55.60 +0.5
Reports Q4 (Dec) net income of $0.50 per share, reports income from continuing operations of ($0.12), may not be comparable to the First Call consensus of $0.45; revenues rose 15.4% year/year to $2.45 bln vs the $2.38 bln consensus. Co increased its quarterly cash distribution per common unit to $0.92.
16:02 ORCL Oracle buys Captovation (21.91 +0.60) -Update-
Co announces it has agreed to to acquire Captovation. The acquisition is expected to strengthen Oracle’s leading Enterprise Content Management (ECM) software portfolio to provide an integrated and automated solution for overall transactional content management that will help reduce costs, streamline critical business processes and simplify regulatory compliance. Captovation’s software is expected to be a core component of Oracle Enterprise Content Management. The transaction is expected to close by February 2008. Until the deal closes, each company will continue to operate independently. Financial details of the transaction were not disclosed.
16:01 KMP prelim $0.50 vs $0.45 First Call consensus; revs $2.45 bln vs $2.38 bln First Call consensus
16:00 LPTH LightPath announces Jim Gaynor as President & CEO (2.16 -0.01)
