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6:56 am Endeavour Silver announces at the market sales agreement; would result in aggregate gross proceeds of up to $40 million (EXK) : ...

6:56 am Chatham Lodging reports FFO in-line, beats on revs; guides Q2 FFO below consensus; lowers FY16 guidance (CLDT) :

  • Reports Q1 (Mar) funds from operations of $0.46 per share, in-line with the Capital IQ Consensus of $0.46; revenues rose 17.0% year/year to $68.9 mln vs the $67.9 mln Capital IQ Consensus.
  • Improved hotel revenue per available room (RevPAR) 2.6 percent to $124 for Chatham's 38, wholly owned hotels, within the company's guidance range of 2-4 percent. Average daily rate (:ADR) was up 70 basis points to $159, and occupancy was up 200 basis points to 78 percent. Adjusted EBITDA -- Increased 13 percent to $27.6 million.
  • Co issues downside guidance for Q2, sees FFO of $0.69-0.71, excluding non-recurring items, vs. $0.76 Capital IQ Consensus Estimate; revPAR +2-3%
  • Co issues downside guidance for FY16, lowers FFO to $2.35-2.50 from $2.45-2.55, excluding non-recurring items, vs. $2.52 Capital IQ Consensus; lowers FY16 revs to $295.2-299.7 mln from $297.9-301.1 mln vs. $301.21 mln Capital IQ Consensus Estimate; revPAR +2-3.5% from +3-4%.

6:55 am Asian Markets Close: Nikkei CLOSED, Hang Seng -0.5%, Shanghai +0.2% (:SUMRX) :

Equity markets in the Asia-Pacific region ended Thursday on a mostly lower note. However, regional indices were restrained to narrow ranges while Japan's Nikkei was closed once again (Children's Day). Economic data released overnight was mostly disappointing, which added to the cautious sentiment stemming from political turmoil in Turkey.

  • In economic data:
    • China's April Caixin Services PMI 51.8 (consensus 52.6; last 52.2)
    • Hong Kong's April Manufacturing PMI 45.3 (last 45.5) and March Retail Sales -9.8% year-over-year (consensus -9.0%; last -20.6%)
    • Australia's March Retail Sales +0.4% month-over-month (expected 0.3%; last 0.1%) and March trade deficit narrowed to AUD2.16 billion from AUD3.04 billion (expected deficit of AUD2.90 billion). March Imports increased 1.0% year-over-year (last 0.0%) and exports grew 4.0% month-over-month (last -1.0%). Separately, March HIA New Home Sales +8.9% month-over-month (last -5.3%)

---Equity Markets---

  • Japan's Nikkei was closed.
  • Hong Kong's Hang Seng slipped 0.5% with property names leading the retreat. China Resources Land, Hang Lung Properties, and New World Development lost between 1.6% and 2.0%. Financials were mixed with HSBC falling 1.4%, Bank of China shedding 0.3%, and Bank of China Hong Kong climbing 0.9%.
  • China's Shanghai Composite added 0.2%. Nuode Investment, Dalian Daxian Enterprises, Tibet Urban Development, and Greattown Holdings gained between 4.7% and 6.2%.
  • India's Sensex gained 0.6% with more than half of its components ending in the green. Housing Development Finance, Bharat Heavy Electricals, Tata Motors, Larsen & Toubro, and ITC gained between 1.5% and 2.9%.

---FX---

  • USDJPY +0.2% to 107.25
  • USDCNY +0.2% to 6.5072
  • USDINR -0.1% to 66.547

6:55 am Radio One reports Q1 EPS of ($0.08) vs. ($0.39) in prior year period; revs $109.9 mln vs $105.8 mln in prior year - no estimates (ROIAK) :

6:55 am NRG Energy misses by $0.01, beats on revs; Reaffirms 2016 EBITDA guidance (NRG) :

  • Reports Q1 (Mar) earnings of $0.24 per share, $0.01 worse than the two analyst estimate of $0.25; revenues fell 15.7% year/year to $3.23 bln vs the $3.18 bln Capital IQ Consensus.
  • Reaffirms 2016 EBITDA guidance of $3.0-3.2 bln

6:53 am NRG Yield appoints Christopher Sotos CEO, effective May 6 (NYLD) : ....

6:53 am Axiall beats by $0.46, misses on revs (AXLL) :

  • Reports Q1 (Mar) earnings of $0.17 per share, $0.46 better than the Capital IQ Consensus of ($0.29); revenues fell 10.9% year/year to $699.2 mln vs the $753.01 mln Capital IQ Consensus.
  • In the Chlorovinyls segment, the company expects decreased caustic soda and vinyl resin sales volumes primarily due to scheduled turnarounds in the second quarter of 2016 as compared to the first quarter of 2016. Vinyl resin and caustic soda prices, particularly export caustic soda and vinyl resin prices, have increased thus far in the second quarter. At the same time, ethylene costs have risen. The impact of these factors on second-quarter 2016 results will depend on the timing and magnitude of vinyl resin and caustic soda price changes and ethylene costs. The company does not expect any material changes in the components of its ethylene supply portfolio during the second quarter.

6:53 am Fastenal reports April net sales -0.9% to $331.55 mln; Daily sales +3.8% to $15.79 mln (FAST) :

6:51 am Teradata beats by $0.10, beats on revs; guides FY16 EPS above consensus, revs in-line (TDC) :

  • Reports Q1 (Mar) earnings of $0.47 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus of $0.37; revenues fell 6.4% year/year to $545 mln vs the $522.93 mln Capital IQ Consensus.
  • Co issues guidance for FY16, sees EPS of $2.35-2.50, excluding non-recurring items, vs. $2.35 Capital IQ Consensus Estimate; sees FY16 revs of $2.25-2.32 bln (excludes Marketing Applications business) vs. $2.29 bln Capital IQ Consensus Estimate.

6:51 am Travelport Worldwide beats by $0.09, reports revs in-line; Reaffirms 2016 guidance (TVPT) :

  • Reports Q1 (Mar) earnings of $0.41 per share, excluding non-recurring items, $0.09 better than the Capital IQ Consensus of $0.32; revenues rose 6.4% year/year to $609 mln vs the $614.26 mln Capital IQ Consensus.

Reaffirms Prior 2016 Guidance

  • Net revenue $2,350-2,400 mln (6- 8% yu/y)
  • Adjusted EBITDA $565-580 (6-8% y/y_
  • Adjusted Net Income $140-150 mln (15-23%)
  • Adjusted Income per Share -- diluted $1.12-1.20 (12-20% y/y)
  • Adjusted Free Cash Flow $145-165 mln (8-23%)

6:50 am Avon Products misses by $0.10, reports revs in-line (AVP) :

  • Reports Q1 (Mar) loss of $0.07 per share, $0.10 worse than the Capital IQ Consensus of $0.03; revenues fell 15.8% year/year to $1.31 bln vs the $1.3 bln Capital IQ Consensus.
  • Gross margin was 60.3%, down 30 basis points. Adjusted gross margin was 60.3%, down 130 basis points, driven by an approximate 420 basis points of unfavorable impact of foreign exchange, partially offset by the favorable net impact of price/mix and lower supply chain costs.

6:50 am Merck beats by $0.04, misses on revs; raises FY16 guidance, in-line (MRK) :

  • Reports Q1 (Mar) earnings of $0.89 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of $0.85; revenues fell 1.2% year/year to $9.31 bln vs the $9.45 bln Capital IQ Consensus.
  • Excluding the impact of FX (-4%), growth reflects higher sales in oncology, hospital acute care and diabetes. Growth in oncology was driven by higher sales of KEYTRUDA as the company continues to launch the product with new indications and in new markets. Growth in hospital acute care was driven by sales of the Cubist portfolio and sales growth of certain inline brands. Pharmaceutical sales also reflect an increase in the diabetes franchise of JANUVIA (sitagliptin) and JANUMET (sitagliptin and metformin HCl), medicines that help lower blood sugar in adults with type 2 diabetes, driven by strong growth in the United States and Europe, partially offset by lower sales in emerging markets. First-quarter pharmaceutical sales reflect a decrease in REMICADE (infliximab), a treatment for inflammatory diseases, due to the accelerating impact of biosimilar competition in the company's marketing territories in Europe. Pharmaceutical sales also reflect declines in NASONEX (mometasone furoate monohydrate), an inhaled nasal corticosteroid for the treatment of nasal allergy symptoms, and ZOSTAVAX (zoster vaccine live), a vaccine for the prevention of herpes zoster. Pharmaceutical sales were unfavorably affected in the first quarter of 2016 by the company's reduced operations in Venezuela.
  • Keytruda sales $249 mln vs. $235 mln consensus.
  • Co issues guidance for FY16, raises EPS to $3.65-3.77 from $3.60-3.75, excluding non-recurring items, vs. $3.72 Capital IQ Consensus; raises FY16 revs to $39-40.2 bln from $38.7-40.2 bln vs. $39.85 bln Capital IQ Consensus Estimate.

6:50 am Scripps Networks Interactive beats by $0.33, beats on revs (SNI) :

  • Reports Q1 (Mar) earnings of $1.37 per share, $0.33 better than the Capital IQ Consensus of $1.04; revenues rose 24.1% year/year to $816.9 mln vs the $794.21 mln Capital IQ Consensus.
  • Due to stronger than expected advertising pricing and continued positive ratings from the U.S. Networks, the company now expects full-year adjusted segment profit to increase 8%, up from the previously issued 7%. All other guidance remains unchanged.

6:49 am BioCryst Pharma misses by $0.08, misses on revs (BCRX) :

  • Reports Q1 (Mar) loss of $0.31 per share, $0.08 worse than the Capital IQ Consensus of ($0.23); revenues fell 29.4% year/year to $4.8 mln vs the $5.68 mln Capital IQ Consensus. The decrease in revenue was primarily due to lower collaborative revenue associated with BCX4430 development under the advanced development contract with the Biomedical Advanced Research and Development Authority (BARDA/HHS) awarded in March 2015.
  • Based upon development plans and our awarded government contracts, BioCryst expects its 2016 net operating cash use to be in the range of $55 to $75 million, and its 2016 operating expenses to be in the range of $78 to $98 million.
  • Cash, cash equivalents and investments totaled $78.9 million at March 31, 2016.
  • The first quarter of 2016 is expected to be the largest cash consumption quarter of the four quarters in 2016, and BioCryst expects to remain within previously issued cash use guidance.
  • "We are conducting a Phase 1 clinical pharmacology study in healthy volunteers to determine if we are able to meaningfully increase exposure and get to a twice-daily oral dosage form of avoralstat. We expect to report results from this study this summer."

6:49 am ITT Industries reports EPS in-line, beats on revs; reaffirms FY16 EPS guidance, revs guidance (ITT) :

  • Reports Q1 (Mar) earnings of $0.59 per share, excluding non-recurring items, in-line with the Capital IQ Consensus of $0.59; revenues rose 3.5% year/year to $609.1 mln vs the $591.55 mln Capital IQ Consensus.
  • Co reaffirms guidance for FY16, sees EPS of $2.42-2.68 vs. $2.51 Capital IQ Consensus Estimate; sees FY16 revs of (4)-0% to ~$2.39-2.49 bln vs. $2.45 bln Capital IQ Consensus Estimate. The company expects stronger automotive results, along with incremental benefits from Industrial Process restructuring actions, favorable corporate costs and a lower full-year tax rate, to help offset weakness in short-cycle pumps and aftermarket at Industrial Process.
  • ITT also announced that in mid-May 2016, the company intends to implement a company reorganization that would create a new holding company, ITT Inc., as its new publicly traded parent company. At the same time, the company intends to implement an internal reorganization that would separate its operating assets from its legacy liabilities and associated insurance assets. The move would also streamline the company's legal entity structure and facilitate future growth opportunities. The company's ticker symbol would remain ITT, and there would be no impact to ITT's consolidated financial position, cash flow or capital structure. For more information, please see the Form 8-K filed by the company with the Securities and Exchange Commission on May 5, 2016.

6:47 am STORE Capital beats by $0.03, beats on revs; guides FY16 FFO above consensus (STOR) :

  • Reports Q1 (Mar) funds from operations of $0.40 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus of $0.37; revenues rose 38.5% year/year to $85.2 mln vs the $83.94 mln Capital IQ Consensus.
  • Co issues upside guidance for FY16, sees FFO of $1.60-1.63, excluding non-recurring items, vs. $1.56 Capital IQ Consensus Estimate.

6:47 am New Senior Investment misses by $0.01, misses on revs (SNR) :

  • Reports Q1 (Mar) normalized funds from operations of $0.32 per share, $0.01 worse than the Capital IQ Consensus of $0.33; revenues rose 59.7% year/year to $117.94 mln vs the $119.36 mln Capital IQ Consensus.

6:47 am Teledyne Tech to sell assets of its printed circuit technology business to Firan Technology Group for $9.3 mln in cash (TDY) : For each of the last three years, Teledyne PCT has generated b/t $15.0-20.0 mln of annual revs

6:46 am Teradata announces Victor Lund to replace Mike Koehler as CEO, effective immediately (TDC) :

"On behalf of the Board and the co, I want to thank Mike for his many contributions to Teradata. During his tenure as Teradata's CEO, Mike advanced the co's leadership position in data and analytics, gaining continued recognition from leading industry analysts for technology innovations. Significantly, Mike is known for his enduring commitment to customer success," added Mr. Ringler.

  • Most recently, Lund served as chair of the Audit Committee on Teradata's Board of Directors. He was also the non-executive chairman of the board of DemandTec from Dec 2006 until Feb 2012

6:41 am AmerisourceBergen extends the term of its long-term relationship with Walgreens Boots Alliance (WBA) for an additional 3 years through 2026 (ABC) :

As a result, both the pharmaceutical distribution contract and the Walgreens Boots Alliance Development relationship have been extended to 2026.

  • The extension includes an enhanced commitment from Walgreens Boots Alliance to utilize AmerisourceBergen as its key U.S. distribution partner, and AmerisourceBergen has agreed to make certain working capital investments in the relationship and will proceed with additional capital investments in its distribution network.

6:41 am On The Wires (:WIRES) :

  • SolarCity (SCTY) introduces a new set of services for utility and grid operators. SolarCity's new services include installation, financing, and consulting services for utility-scale solar and energy storage resource development, as well as advanced controls for demand response, distributed energy resources, and aggregated grid services
  • Connecticut Municipal Electric Energy Cooperative, SolarCity (SCTY), and Brightfields Development announce the development of 13 megawatts of solar power systems and at least 1.5 megawatts of energy storage systems located in southern Connecticut
  • Aerie Pharmaceuticals (AERI) announces the completion of patient enrollment in the co's initial Phase 3 registration trial of Roclatan 0.02%/0.005%, a once-daily eye drop being tested for its ability to lower intraocular pressure in patients with glaucoma or ocular hypertension. Roclatan is a fixed dose combination of Aerie drug Rhopressa 0.02% and latanoprost

6:41 am MeetMe beats by $0.01, beats on revs (MEET) :

  • Reports Q1 (Mar) GAAP earnings of $0.04 per share, $0.01 better than the Capital IQ Consensus of $0.03; revenues rose 14.7% year/year to $13.3 mln vs the $12.8 mln Capital IQ Consensus.
  • Mobile revenue was $11.7 million, up 42% from the first quarter of 2015. Mobile revenue represented 88% of total revenue, the highest in MeetMe's history.

6:40 am Ares Commercial Real Estate misses by $0.04 (ACRE) :

  • Reports Q1...

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