After Hours

8:07 NLS Nautilus Grp announced that it has signed its new line of credit agreement with Bank of America (4.20 +0.19)

Co announced that it has signed its new line of credit agreement with Bank of America, N.A. The facility is an underwritten 5-year, $100 mln asset-based loan with an accordion feature to increase the line of credit to $125 mln. The loan is expected to be syndicated by Bank of America.
17:55 WCG WellCare Group announces in an 8-K that WC NY will continue to provide Medicare coordinated care plans in New York (53.86 +0.46)

Co announces in an 8-K, on January 15, 2008, the Centers for Medicare & Medicaid Services (”CMS”) notified the Registrant of its approval of Service Area Expansion Application and Contract Renewal (”CMS Coordinated Care Notice”) of the agreement with WellCare of New York, Inc., a wholly-owned subsidiary of the Registrant (”WC NY”). Under the CMS Coordinated Care Notice, WC NY will continue to provide Medicare coordinated care plans in New York. In addition, WC NY was approved to expand into 4 additional counties. The renewal is for a period of one year ending on December 31, 2008.
17:50 CTAS Cintas Names J. Phillip Holloman President & COO (31.63 +0.21)

Co announced the promotion of J. Phillip Holloman to President and Chief Operating Officer of Cintas. Holloman joined CTAS in 1996 and has served in various positions including Vice President – Engineering/Construction from 1996 to 2000, Vice President – Distribution/Production Planning from 2000 to 2003, Executive Champion of Six Sigma Initiatives from 2003 to 2005 and most recently, Sr. Vice President – Global Supply Chain Management from 2005 until his recent promotion to President and COO.
17:28 SGLP SemGroup Energy announces filing of registration statement for an underwritten public offering of 6,000,000 of its common units (27.35 -0.17)

Co announced that it has filed with the Securities and Exchange Commission a registration statement for an underwritten public offering of 6,000,000 of its common units representing limited partner interests. The net proceeds from this offering will be used to partially fund the previously announced acquisition of 46 U.S. liquid asphalt cement and residual fuel oil terminalling and storage facilities with an aggregate shell capacity of ~6.6 mln barrels from SemMaterials, L.P., which is a subsidiary of privately owned SemGroup, L.P.
17:23 ZZ Sealy: ValueAct Capital reports a 5% stake in ZZ in a 13D (9.48 +0.03)
17:18 FBR Friedman Billings announces First NLC Files for Chapter 11 (3.15 -0.06)

Co announced that, as expected, First NLC Financial Services, LLC (”FNLC”), FBR Group’s mortgage origination subsidiary, has filed a voluntary petition for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code in order to effectuate an orderly liquidation of FNLC’s assets. FNLC’s intent to file for Chapter 11 was announced on January 11, 2008.
17:12 GMXR GMX Resources: Jana Partners reports a 5.8% stake in GMXR in a SC 13G (27.80 -0.20)
17:08 MBLX Metabolix files a $100 mln mixed securities shelf offering in an S-3 (17.53 -0.46)
16:58 MKTIN Market Internals -Update-

The Dow was down 0.49% at 12099, the Nasdaq was down 0.29% to close at 2340, and the S&P was down 0.60% to close at 1325. Leading sectors included: Fertilizer and Agricultural Chem +6.3%, Paper Packaging +4.4%, Oil and Gas Refining +4.3%, Steel +3.4%, Semiconductor +3.3. Lagging sectors included: Wireless Services -18.3%, Autoparts and Equip -5.2%, Electric Equip Manu -4.8%, Thrifts and Mortgages -4.1%, Multi-line Insurance -3.7%. Today’s movement came from higher than avg volume (NYSE 2455, vs. 1551 avg, Nasdaq 2987, vs. 2249 avg), with decliners outpacing advancers (NYSE 1227/2137, Nasdaq 1107/1936) with new lows outpacing new highs (NYSE 13/634; Nasdaq 35/559).
16:45 PNM PNM Resources and Shell Energy North America announce sale-purchase agreement of certain PNM merchant contracts (19.53 -0.08)

Co has agreed to sell certain wholesale power, natural gas and transmission contracts to Shell Energy North America (US), L.P., for $5.8 mln, based on an assumed closing on March 31, 2008.
16:31 JOUT Johnson Outdoors announced it is exploring strategic alternatives for its Escape brand products (20.94 +0.15)

Co announced it is exploring strategic alternatives for its Escape brand products and stepping-up support behind paddle sport segment growth initiatives. As a result, the co has incurred $1.3 mln in impairment charges related to inventory and fixed assets during the 2008 first fiscal quarter. Future impairment charges are estimated to be around $0.2 mln and results of the Escape brand products will be reported as discontinued operations.
16:31 DHOM Dominion Homes announces going-private transaction for $0.65 per share (0.41 -0.06) -Update-

Co announced that it has entered into a definitive merger agreement to be acquired by a buyout group consisting of companies affiliated with Angelo Gordon & Co. and Silver Point Capital and the co’s largest shareholder, BRC Properties. Douglas G. Borror, a principal of BRC Properties, will remain in his role as Chairman of the board of directors and Chief Executive Officer of the Company. Under the terms of the merger agreement, the co’s shareholders (other than the buyout group) will receive $0.65 in cash for each common share, which represents a 38% premium over the closing stock price on January 17, 2008. A special committee of independent directors and the full board of directors of the co have approved the merger agreement and have recommended to the co’s shareholders that they adopt the merger agreement. The independent special committee carefully considered this offer with the counsel of independent legal and financial advisors and, after extensive negotiations, unanimously concluded that this transaction is in the best interests of the co’s public shareholders… The co also announced today that it has entered into certain amendments to its existing credit facility with its lenders in anticipation of the merger transaction. The lenders have agreed to increase the co’s borrowing capacity under the credit facility by approximately $3,500,000 and to forbear until the earlier of June 30, 2008 or termination of the merger agreement from exercising their rights and remedies under the credit facility. (Stock is halted)
16:30 DWCH Datawatch director amends SEC rule 10b5-1 trading plan (6.57 -0.07)

Co announced that Director and former President and Chief Executive Officer Robert W. Hagger has amended his existing stock trading plan in accordance with Rule 10b5-1 of the securities Act of 1934. In connection with the plan, Hagger commented, “Now that I have stepped down as CEO, I expect to continue to diversify my investment portfolio and to maintain a 10b5-1 trading plan as part of my estate planning.” Mr. Hagger’s amended trading plan, which became effective December 6, 2007, now provides for the sale of up to 296,901 shares of stock to be sold from the plan effective date through February 25, 2008, and sales will be subject to certain price restrictions and other contingencies that extend to December 5, 2008. The original trading plan provided for the sale of up to 126,945 shares. As of January 18, 2008, ~170,788 shares in the aggregate have been sold under the trading plan.
16:26 DHOM Dominion Homes halted (0.41 -0.06)
16:26 ABT Abbott’s HUMIRA (adalimumab) receives FDA approval for moderate to severe chronic plaque psoriasis (59.43 -0.32) -Update-

Co announced it has received U.S. Food and Drug Administration (FDA) approval to market HUMIRA (adalimumab) as a treatment for adult patients with moderate to severe chronic plaque psoriasis, an autoimmune disease characterized by skin lesions that are sometimes painful and itchy. HUMIRA has been approved for the treatment of adult patients with moderate to severe chronic plaque psoriasis who are candidates for systemic therapy or phototherapy, and when other systemic therapies are medically less appropriate. HUMIRA should only be administered to patients who will be closely monitored and have regular follow-up visits with a physician.
16:23 KHD KHD Humboldt Wedag says it knows of no fundamental reason for the recent decline in its stock price (23.60 -2.76)

Co says, “Our business continues to grow and to generate positive cash flow. The demand in the marketplace for our services is unabated, and we are continuing to bid on a growing number of new projects in Asia, Russia, the Middle East, Africa, and North America. Our balance sheet and financial resources are very strong, and we know of no fundamental reason for the recent sell-off in our shares.”
16:19 PLBC Plumas Bancorp reports Q4 EPS of $0.17 vs $0.26 yr ago (10.00 -0.38)
16:18 AMX America Movil SA in talks with Ecuador to renew license that expires in August – Bloomberg (53.28 -0.41)
16:15 EXEL Exelixis announces GSK does not option XL784 for further development (7.51 -0.50)

Co announces that GlaxoSmithKline (GSK) has decided not to exercise its option to license XL784 for further development and commercialization. Co previously announced that XL784 failed to meet its primary endpoint in a phase 2 trial in patients with diabetic nephropathy. Although the data in one subgroup were encouraging, co believes that the exciting data being generated by other compounds to which GSK has an option under its collaboration agreement with Exelixis made it unlikely that GSK would use one of its one or two remaining options to choose XL784. As a result of GSK’s decision, Exelixis has the right to develop and commercialize XL784 either independently or in collaboration with third parties, subject to payment to GSK of a 3% royalty on sales of any products incorporating the compound.
16:15 TECHX Equity markets exhibit worst weekly performance since Jul ‘02

The stock market remains in a steep downtrend as the week comes to a close. We are going into a long holiday weekend followed by an increase in Q4 earnings results as earnings season begins to pickup next week. Today we saw another trend day down even as we had positive news early on from IBM & GE Q4 earnings along with a stronger than anticipated U of Mich. Consumer Confidence number. Trading volume was heavy as Jan. equity options expired causing some sharp intraday crosscurrents/countertrend moves. We saw fresh 52Wk lows in the Nasdaq Comp, S&P 500, & the Russell 2000 while the indices finished the week displaying the worst overall performance since Jul ‘02. Strength in today’s session came from the Homebuilders (XHB +2.25%), Basic Materials (XLB +1.4%), & Semis (SMH +1.4%) For the week based on last Friday’s settlement, SPX -5.3%, RUT -4.4%, INDU -4.0%, COMPQ -4.0%.
16:13 SSTI Silicon Storage reports Q1, Q2 and Q3 (2.67 -0.07)

Reports Q1 (Mar) earnings of ($0.01) per share, in-line with the First Call dual-analyst est of ($0.01); revenues fell 11.8% year/year to $97.5 mln vs the $98.3 mln dual-analyst est . Reports Q2 (Jun) earnings of ($0.07) per share, $0.05 worse than with the First Call dual-analyst est of ($0.02); revenues fell 7.7% year/year to $99.3 mln vs the $96.7 mln dual-analyst est. Reports Q3 (Sept) earnings of ($0.16) per share, $0.16 worse than with the First Call dual-analyst est of $0.00; revenues fell 7.3% year/year to $107.5 mln vs the $107.5 mln dual-analyst est. Co says, “With the filing of its Quarterly Reports on Form 10-Q for the first three quarters of 2007, SSTI has brought itself current with its SEC reporting obligations and believes it has addressed NASDAQ Global Market listing deficiencies associated with its prior inability to file such reports.”
16:12 AKS AK Steel Earnings Preview (37.19 +1.71) -Update-

AK Steel (AKS) is set to report Q4 results Tuesday in the pre-market. Consensus calls for EPS of $0.59 and revenue of $1.68 bln, this include stock-based comp. The co does not usually provide specific financial guidance. Past Performance: AKS has beaten consensus for each of the past six qtrs, sometimes by a very wide margin. Last time, the co beat by $0.03 and revs were in-line. The stock spiked nearly $4 last qtr, but wound up closing up about $1… Recent Developments: Last week, the co announced a $30 per ton price increase for carbon steel citing increased demand and the need to recover higher costs… Overall Steel Market: Steel prices appear to have tightened considerably over the past month or so as AKS anounced a $30 per ton price increase. A weak dollar has lowered steel imports and higher raw material input costs (huge demand from China has driven up the cost of iron ore, coking coal, scrap metal) are getting passed on to customers…. What to Expect: It’s rare to see AKS report before other steelmakers NUE, STLD, X so it’s difficult to get a good sense of the steel market at this point. AKS will be an important harbinger for those earning reports over the next two weeks. Also, the conference calls are almost always very bullish… Secondary Plays: STLD, NUE, X, CMC, GNA, MT… Technical Levels of Interest: see chart (length of horizontal line correlates with strength of support or resistance level) (PVIEW)
16:11 DNA Genentech’s Herceptin approved for wider use in breast cancer – Bloomber (69.42 -0.98)
16:10 IEP Icahn Enterprises said policy is not to comment on unusual market activity or rumors, according to NYSE – Reuters (104.85 -14.50) -Update-
16:06 RICK Rick’s Cabaret: Sigma Capital discloses 5.5% stake in SC 13G (20.98 -0.52)

16:05 SLTC Selectica announces initiatives to ensure products and services meet evolving market demands (1.71 -0.13)

Co made three significant announcements aimed at reinforcing customer input in the strategic direction of the company. Co indicated that it will launch an annual business impact survey to evaluate the benefits and challenges of contract management technology in enterprise environments, stated that a new customer satisfaction survey driven by the Selectica Customer Advisory Council will be launched later this quarter and Selectica welcomed two Fortune 100 companies as new members of the seven member S-CAC team.
16:04 HET Harrah’s expects merger to close on Jan 28 (87.68 -0.32)

At the effective time of the merger, each issued and outstanding share of Harrah’s common stock shall be canceled and converted into the right to receive $90.00 in cash. As a result of the merger, Harrah’s will cease to be a publicly-traded company. Subject to customary closing conditions, Harrah’s expects to close the transaction on January 28, 2008.
16:03 FMDA Futuremedia receives notice of non-compliance from Nasdaq (1.50 +0.15)

Co announces that it received a notice of non-compliance from the staff of the Listing Qualifications Department of The Nasdaq Stock Market. The notice indicated that based upon the co’s failure to timely file the Annual Report on Form 20-F the co’s common stock is subject to delisting. The co plans to timely request a hearing before the Panel, which will stay any delisting action until the Panel renders a decision subsequent to the hearing. The co anticipates that the Panel hearing will be scheduled to occur within the next 45 days.
16:02 MCBF Monarch Community Bancorp reports 2007 EPS of $0.73 vs $0.63 yr ago (10.01 -0.37)
16:01 S&P 500 finishes the week -5.4%, while the Dow and Nasdaq each lost 4.0% this week
16:00 WMT Wal-Mart: John Menzer to retire as Vice Chairman (47.58 +0.10)

John Menzer, vice chairman of Wal-Mart has announced he will retire from the co on March 1. His current responsibilities will be assumed by other leaders in the co.
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