Hungama and Vringo (AMEX: VRNG) Launch Video Ringtone Service in India, Trading +30%

Northern, WI 4/2/12 (StreetBeat) -- Vringo, Inc. (Amex: VRNG), a provider of software platforms for mobile social and video applications, today announced that, through its content and services collaboration with Hungama Digital Media Entertainment, it has launched its video ringtone service with Tata DOCOMO, the fastest growing telecom service provider in India's history.

Tata DOCOMO was the first operator to launch Vringo's video ringtone service for its strong GSM subscriber base in India across 18 Circles. Under the new agreement with Tata DOCOMO, Vringo's video ringtone service will be made available to its GSM subscribers in India for 1 rupee per day, or approximately $0.80 per month. Vringo's video ringtone software is designed to allow users to create, download and share high-quality mobile video content that is specific to various regions of the world.

"We are pleased to be working with Tata DOCOMO as we bring our exciting video ringtone software to the mobile market in India," said Andrew Perlman, Vringo's CEO. "We are strengthening our relationships around the region due to the sizable market opportunities of the fast-growing mobile user base in South Asia."

Hungama, which distributes the Vringo service in India, made the introductions between Vringo and Tata DOCOMO. Hungama is the largest source of digitally available Bollywood and South-Asian entertainment content in the world. Vringo is adding premium content from Hungama to its video ringtone content library and is sharing revenues from the content with Hungama, which has strong relationships with all the Indian cellular operators.

"We are excited to bring Vringo's innovative video ringtone technology to all the service providers in India. The Indian mobile industry is at an inflection point and services such as these will become popular as all the Indian mobile service providers will offer better infrastructure and data speeds to their subscribers in the next 12 to 18 months," said Neeraj Roy, MD and CEO, Hungama. "This new partnership will leverage our powerful content and bring it directly to the millions of fans of Bollywood content throughout the region."

Mr. Gurinder Singh Sandhu, Head Marketing, Tata Teleservices Limited said, "Vringo is a key innovator in the mobile social and video arena, so we couldn't be more excited to work together on an innovative mobile video ringtone service that leverages our powerful mobile network in India. We believe the Vringo service, with the customized Indian content by Hungama will have mass appeal throughout India, especially amongst our growing network of high-speed 3G subscribers."

Tata Teleservices Limited is one of India's leading private telecom service providers, having a pan-India presence across all of India's 22 telecom Circles. The company offers integrated telecom solutions to its customers under the unified brand name Tata DOCOMO and operates its wireless networks on GSM, CDMA and 3G technology platforms. Tata Teleservices Limited, along with Tata Teleservices (Maharashtra) Limited, operates in more than 450,000 towns and villages across the country, serving over 85 million subscribers. After its collaboration with Japan's NTT DOCOMO in November 2008, Tata Teleservices launched 2G GSM services under the Tata DOCOMO brand name in all the 18 telecom Circles where it received spectrum from the Government of India, in June 2009. Since then, the company has established a strong brand connect for Tata DOCOMO in India and has been at the forefront of redefining the telecom experience in India, launching innovative products and services that have impacted Indian consumer lifestyles. TTL is the clear market leader in the enterprise space as well, and has market leadership in many product lines, such as mobile broadband with the photon family of wireless access devices. TTL's bouquet of telephony services includes mobile services, wireless desktop phones, public booth telephony and wireline services.

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NASA Successfully Launches Kratos' (Nasdaq: KTOS) Oriole Rocket

Shawshank, Va 4/2/12 (StreetBeat) -- Kratos Defense & Security Solutions, Inc. (Nasdaq:KTOS), a leading National Security Solutions provider, announced today the successful launch by NASA of an Oriole rocket system produced by its Rocket Support Services (RSS) business unit located in Glen Burnie, Maryland. This was the first Oriole rocket launched by NASA and was one of five rockets launched from theNASA Wallops Flight Facility in Wallops Island, VA, over a six minute period as part of a study of the upper level jet stream. The rockets carried payloads which released chemical tracers that created milky, white clouds at the edge of space that were visible throughout the U.S. Mid-Atlantic region.

As noted by NASA, the mission, dubbed the Anomalous Transport Rocket Experiment (ATREX), was performed to gather information needed to better understand the process responsible for the high-altitude jet stream located 60 to 65 miles above the Earth's surface. NASA has initially purchased six Oriole rocket systems from Kratos to support the program.

Dave Carter, President of Kratos' Defense Engineering Solutions division, stated, "We are very pleased with the successful inaugural Oriole launch by NASA and look forward to a long and fruitful relationship providing Oriole rocket systems to support the NASA Sounding Rocket Program. The Oriole rocket system is very versatile and was developed to support technology research and missile defense target programs, in addition to scientific research."

Eric DeMarco, Kratos' President and Chief Executive Officer, said, "The NASA Sounding Rocket Program has a long and enviable history supporting upper atmospheric and other suborbital scientific research. Kratos is proud to provide the Oriole to augment NASA's family of suborbital rocket systems."

About Kratos Defense & Security Solutions

Kratos Defense & Security Solutions, Inc. is a specialized National Security technology business providing mission critical products, services and solutions for United States National Security priorities. Kratos' core capabilities are sophisticated engineering, manufacturing and system integration offerings for National Security platforms and programs. Kratos' areas of expertise include Command, Control, Communications, Computing, Combat Systems, Intelligence, Surveillance and Reconnaissance (C5ISR), satellite communication systems, unmanned systems, cyber warfare, cyber security, information assurance, critical infrastructure security and weapons systems sustainment. Kratos has primarily an engineering and technical oriented work force of approximately 4,000, many of whom hold an active National Security clearance, including Secret, Top Secret and higher. The vast majority of Kratos' work is performed on a military base, in a secure facility or at a critical infrastructure location. Kratos' primary end customers are United States Federal Government agencies, including the Department of Defense, classified agencies, intelligence agencies and Homeland Security related agencies. News and information are available athttp://www.globenewswire.com/newsroom/ctr?d=250805&l=6&a=www.KratosDefense.com&u=http%3A%2F%2Fwww.kratosdefense.com%2Fwww.KratosDefense.com.

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Swisher Hygiene (Nasdaq: SWSH) shares drop 13 percent

Shawshank, VA 3/28/12 (StreetBeat) -- Shares of Swisher Hygiene (Nasdaq: SWSH) fell 41 cents, or 13.45 percent, to $2.64 in early trading on Wednesday after the company announced it would have to delay its annual report and possibly restate earnings for the first three quarters of 2011.

By 9:54 a.m., volume had hit 571,451 shares compared with an average daily volume of 479,397 shares over the past three months.

The stock briefly touched $2.63, which would be a new 52-week low compared to the previous low of $2.83 set on March 1. The 52-week high of $11.43 was set on April 19.

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Vermillion’s (Nasdaq: VRML) annual revenue up

Orlando, Fl 3/27/12 (StreetBeat) -- Vermillion Inc. (Nasdaq: VRML) reported a $3.1 million net loss on $868,000 revenue during the fourth quarter ended Dec. 31, versus $4 million on $345,000 revenue during the same three months the year before.

For fiscal 2011, the Austin-based molecular diagnostics company posted a $17.8 million net loss on $1.9 million revenue compared to a $19 million net loss on $1.2 million revenue during the previous fiscal year.

Shares were trading for about $1.78 Tuesday morning.

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Total’s (NYSE: TOT) North Sea Gas Leak Could Turn Into Lengthy Problem

Tallahassee, Fl 3/27/12 (StreetBeat) -- The gas leak from French oil company Total’s (NYSE: TOT) Elgin oil field in the U.K. North Sea could turn into a lengthy problem for the company, not unlike the challenge BP faced shutting down its leaking well in the Gulf of Mexico two years ago.

The company has already said it could take “a couple of weeks” under the best-case scenario to halt the gas leak, which has prompted the evacuation of several offshore facilities and shut down around 130,000 barrels equivalent of oil and gas production. However, some of the fixes the company is discussing could take far longer.

The scale of the leak from the Total’s offshore field is nowhere near the severity of theDeepwater Horizon disaster, which killed 11 men and spilled tens of thousands of barrels of oil a day into the Gulf. No casualties have been reported arising from the gas leak on the Elgin platform and a six mile-long sheen of gas condensate has been reported on surface of the sea around the facility.

The gas is leaking from the Elgin platform itself, not bubbling up from the sea bed as some reports suggested, but the full evacuation of the facility will make fixing it challenging.

David Hainsworth, health, safety and environment manager for Total Exploration and Production in the U.K., told BBC News that one possibility is to pump heavy mud into the leaking well to rapidly stop the flow of gas.

But one of the options under consideration, drilling a new ‘relief well’ to intercept the original leaking borehole and pump it full of cement, could take much longer.

One precedent is BP’s Deepwater Horizon oil disaster two years ago. That drilling rig exploded on April 22 2010, triggering the largest offshore oil spill in U.S. history from the Macondo well. It was almost five months later that Macondo was permanently shut down, by drilling the relief well took around three months to complete.

A similar operation to shut down the Elgin leak could prove almost as technically difficult, because both reservoirs sit at the extreme end of the industry’s capability. Macondo was such a challenge to control because it was more than 5,000 meters deep, highly pressurized to 12,000 pounds per square inch and very hot at 115 degrees Celsius.

The Elgin reservoir is also more than 5,000 meters deep, is pressurized to almost 16,000 pounds per square inch and is at a temperature of 200 degrees Celsius.

To be sure, the two situations are not a direct analogue. Until the full facts of the incident are known, it’s difficult to say exactly how a solution to this problem will unfold.

One mitigating factor is that the Elgin field is in much shallower seas. Water depth is just 93 meters, compared with more than 1,500 meters for Macondo, making it considerably easier to access the well head at the sea bed.

However, as Total’s shares trade down more than 4%, there is good reason for investors to worry that a solution won’t happen quickly.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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Apollo (Nasdaq: APOL) slumps 8% as analysts trim expectations

Tallahassee, Fl 3/27/12 (StreetBeat) -- Apollo Group Inc. (Nasdaq: APOL) shares slumped as much as 8.3% at the open Tuesday after Credit Suisse cut its recommendation on the company to neutral from outperform. The move follows the release late Monday of the for-profit educator's fiscal second-quarter results. Apollo posted a profit of 51 cents a share, reversing a year-ago loss of 45 cents a share.

While earnings topped analysts estimates, Credit Suisse said it was concerned the Apollo would be able to consistently increase enrollment and cut its share price target on the company to $40 from $60. Analysts at Citi warned Apollo's second-half results were likely to come in "materially lower" than Wall Street expects. Apollo shares were last trading 7.7% lower at $39.88, making it the worst performer in the S&P 500.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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Outrage Over the TVIX (NYSE: TVIX) Trounce: Greenberg

Shawshank, VA 3/27/12 (StreetBeat) -- Forget too big to fail. The recent trouncing of VelocityShares Daily 2X VIX Short-Term ETN, better known by its symbol — the (NYSE: TVIX) — is too complicated for most people to care.

What a shame.

This levered electronically traded note (ETN) is tied to the S&P 500 VIX futures, which measure the implied volatility of S&P 500 index options.

The very nature of what it is, as a derivative of a derivative, makes it too complicated for comfort. Add in the arcane nuances of ETNs, not to be confused with exchange-traded funds , you get full glazing over of the eyes.

That’s even after the TVIX’s trounce, which has caused its share price to fall by 60 percent in recent days — the biggest disconnect from reality (or “premium discount spike,” as the pros put it) of an ETN that anybody can remember.

Surely this must have sparked concern by the Securities and Exchange Commission.

Hardly, which gets to my outrage.

First a little background: The TVIX was created by Credit Suisse to give investors a chance to make a super-turbocharged bet on the VIX. It was generally doing what it was supposed to do until Feb. 22. That’s when Credit Suisse, without explanation, issued a terse press release saying that it would temporarily stop issuing new shares in the TVIX.

One of the hallmarks of exchange-traded notes and funds, if all goes well, is that there won’t be any interruption in the creation or redemption of shares to meet market demand. When Credit Suisse turned off the share spigot, the TVIX suddenly looked more like a closed-end mutual fund, with the price of its shares rocketing to a premium of its net asset value. (Which, of course, is not what its investors were buying.)

When that happened, the share pricing got out of equilibrium — until last Thursday, when it started collapsing. As the share prices fell, losing 30 percent on the day, Credit Suisse announced post-close that the company would temporarily start issuing shares again.

Rumors about the timing of the Credit Suisse announcement (who knew what when?) started swirling — as did people wondering why the shares continue to trade — and where the SEC was in all of this?

Or as I wanted to know: Why did the SEC approve this fund (and any like them) in the first place? After all, among the disclosures in the TVIX is this doozy, bold-faced and underlined in the prospectus: “The long term expected value of your ETNs is zero. If your ETNs are a long-term investment, it is likely that you will lose all or a substantial portion of your investment.”

This is where it gets good: An SEC spokesman, in response to my questions, said that “from the Securities Act standpoint, we don’t have the authority to weigh in on the merits of any particular offering or security; we are not merit regulators, so we don’t approve or disapprove offerings.”

Besides, the spokesman added, the TVIX, like all ETNs, is a debt instrument issued as a shelf registration by a “well-known, seasoned issuer.”

A debt instrument issued as a shelf registration by a “well-known, seasoned issuer”?! Ah, so the banks are using ETNs merely as some kind of esoteric way to raise cash for general corporate purposes?

That’s what it say in its prospectuses, but as you might have guessed by now: It’s not quite that simple.

If you read on, the TVIX (and other ETNs) also say the cash may also be used “to hedge our obligations under the ETNs of the applicable series.”

What does that mean? Credit Suisse declined comment and Barclays Capital, another active issuer of ETNs, referred me to the prospectuses.

So I turned to David Nadig, head of research at Index Universe, who probably knows more about ETNs than most investors who buy them (he has a staff of 10 that actually reads the prospectuses.)

According to Nadig, the amount of cash raised is less about raising cash and more “to earn the fee...on the asset they collected.”

So, in effect, the banks are creating ETNs to raise cash that will generate fees. And they’re getting it done under the guise of plain vanilla shelf debt registrations with no questions asked because they are considered “well-known seasoned issuers”?

“They do skate through and live in a loophole,” Nadig says.

Nice!

And there lies my outrage: They’re gaming the system, and the SEC just turns its head because ETNs “are notes, and notes are debt instruments” and these banks are “well-known seasoned issuers.”

Why do I suddenly feel like it’s 2008 all over again — and that once again the regulators will turn a blind eye until after something bigger than the TVIX occurs?

Hard to say what bigger event may occur. It may be nothing more than the blowup of naive registered investment advisor or financial planner who used a leveraged ETNs as a way to hedge a client’s portfolio. Or perhaps something more systemic.

Whatever it is, this much is clear: The SEC will likely be the last to know — or at least to do something about it.

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Ubiquiti (Nasdaq: UBNT) Shares Rise On Upbeat Chicago Conference

Chicago, IL 3/26/12 (StreetBeat) -- Ubiquiti Networks' (Nasdaq: UBNT) new AirFiber wireless networking product, strutted out at a conference in Chicago on Friday, is getting a thumbs up from analysts.

Shares in Ubiquiti, which sells wireless networking gear to rural Internet service providers in the U.S. and abroad, were up 8% in midday trading Monday, near 33. Shares have jumped 120% since the firm's October IPO priced at $15 a share.

The AirFiber system, which uses microwave technology, links radio base stations that serve as neighborhood communications hubs to landline networks and the Internet networks. The company says the product brings "unparalleled speed" worldwide to the unregulated, license-free airwave band.

Wunderlich Securities analyst Matthew Robison on Monday increased his price target on the stock to 35 from 28. Ubiquiti unveiled the AirFiber system at Chicago conference where some 700 customers gathered.

"The highlight of the event was the introduction of AirFiber, which is arguably the biggest step in proprietary technology for the company to-date," wrote Robison in a report. "It will take a few quarters to gauge the success of AirFiber, but it looks good on paper and if the company can sell it while maintaining the current expense structure, the scalability of the business model will be proven."

Deutsche Bank analyst Brian Modoff was also upbeat in a report that came out on Sunday.

"Overall AirFiber was impressive," Modoff wrote. "The product offers 1.4 Gbps speeds over the unlicensed, 24 gigahertz spectrum band. AirFiber is priced at $2,995 a link (for two radios). Other competitors are offering half the speed for link prices of $15,000. Even with the low prices, our checks tell us that the product's margin is still above the company average. This release is another example of Ubiquiti's ability to offer advanced products at disruptive prices and one of the main reasons we remain positive on the name."

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Identive (Nasdaq: INVE) Opens the Door to Physical Access With NFC-Enabled Smartphones

Palm Beach, FL 3/26/12 (StreetBeat) -- Identive Group, Inc. (Nasdaq:INVE), a provider of products and services for the identification, security and RFID industries, today announced a revolutionary way to enable the use of mobile phones to open doors and log on to computer networks. For the first time, users can enjoy the freedom of an open standards-based solution with government level security to gain access to buildings and IT networks using NFC-enabled smartphones.

In the industry's first open standards-based solution for NFC-enabled physical access, the government-grade access authentication protocol known as PLAID is integrated with the secure processor within an NFC-enabled smartphone. When used with Identive's new line of TouchSecure(R) readers, the NFC smartphone replaces traditional secure physical access credentials.

"NFC was developed to bring simplicity to everyday mobile interactions," said David Holmes, Vice President Mobility & NFC Solutions for Identive. "By introducing an open source industry standard authentication protocol on top of NFC, we have for the first time provided a way for customers to invest in NFC technology for physical access, with confidence that the solutions will be interoperable with other standards-based offerings while providing a high level of security."

With nearly 300 million NFC-enabled smartphones forecast to be on the market by 2014, one of the most recurring requests from government and commercial organizations is the ability to integrate smartphones into existing high security physical access environments. With this groundbreaking, truly open standards-based technology from Identive, customers can use their choice of key fobs, traditional cards and mobile phones interchangeably.

"One of the main drivers for the use of smartphones as replacements for traditional access badges is to reduce the expense and management of lost and forgotten cards; mobile phones are less likely to be misplaced or left at home, for example," stated Joe Tassone, Identive's Executive Vice President of Technology and Product Management. "Security also plays a factor in organizations' decisions to utilize smartphones in lieu of key cards, as mobile phones can be remotely and securely managed employing "over the air" (OTA) techniques for credential issuance and updates."

By leveraging an existing international standard, this new NFC solution augments Identive's commitment to vendor interoperability and a single, secure customer ecosystem for physical and logical access, as well as additional applications such as payment and cloud security.

Identive will be demonstrating its open NFC physical access solutions in booth #26087 at the International Security Conference and Exhibition - ISC West 2012, taking place March 28 - 30 in Las Vegas, Nevada.

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A123 Systems (Nasdaq:AONE) falls on news of defect and new costs

Orlando, FL 3/26/12 (StreetBeat) -- Shares of A123 Systems (Nasdaq: AONE) tumbled by double digits to an all-time low Monday after the company said it would have to replace battery modules and packs that might be defective.

The battery equipment might contain defective components called prismatic cells, which were made at its factory in Livonia, Mich.There is a chance, because of the problem, that battery equipment could fail early, but does not pose a safety issue, the company said.

A123 Systems expects to start shipping replacement packs and modules to affected customers this week. The company said the cost of replacing the equipment will be about $55 million, and will be paid for over the next several quarters.

The defects were not found in prismatic cells manufactured outside the Livonia factory, the company said.

A123 Systems makes lithium ion batteries for electric cars. The company said it is taking steps to improve its manufacturing process, including the hiring in January of Chief Operating Officer Ed Kopkowski.

Kopkowski was previously vice president of operational excellence at auto supplier Dana Holding Corp (NYSE: DAN). He has more than 25 years of management and operational experience in improving quality and reducing costs, the company said.

Shares of A123 Systems Inc. slid 18 cents to $1.52 in morning trading, giving up all of the gains from earlier this month when the company announced that it would supply Indian automaker Tata Motors with lithium ion battery packs for use in commercial vehicle hybrid electric systems.

Shares at one point fell to $1.48, surpassing a previous low reached in December.

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Tesla (Nasdaq: TSLA) Rising: Wunderlich Says Production Capacity Looks Good

Orlando, FL 3/26/12 (StreetBeat) -- Wunderlich Securities’s Theodore O’Neill this morning raised his rating on shares of electric vehicle maker Tesla Motoros (Nasdaq: TSLA) to Buy from Hold, writing that his tour of the company’sFremont, California factory on Friday relieved him of concerns the company would not be able to meet its production goals.

O’Neill, who raised his price target to $49 from $30, writes that “We were eager to get into the Fremont factory because we believed the company’s goals were ahead of its means in the area of auto production.”

Instead, we were confronted with some hundred or so of the massive dies needed to produce the model S body. Although none of them were inside the presses, it was clear that between what was on the floor and what was coming in from suppliers, it was at or ahead of schedule […] The dies were all from a world-class automotive die maker and supplier to Honda, Fuji Technica & Miyazu. The dies had clearly been used to stamp out body parts in Japan where much of the panels we saw had come from. Now they were in Fremont being staged for production there.

There is “no reason from a production standpoint why it can’t immediately ramp to 5,000 cars per quarter,” writes O’Neill.

O’Neill thinks the “Model S” Sedan can “sell itself” once built, his main concern being the ultimate market size for Tesla, as well as what he expects to be an “aggressive response” from BMW and Mercedes.

Still, O’Neill writes Tesla need only make $1 in profit per share by 2014 to justify his $49 price target.

That is less than half the $2.40 per share the Street is currently estimating.

Tesla shares today are up $1.61, or almost 5%, at $35.69.

Please contact www.thestreetbeat.com for interest in our latest investor relations platform the “CEO Interview Series” with its host Steve Kanaval. The package includes a one-on-one interview with a seasoned industry professional; published segment to our web site with embedded audio/video file; and a compressed file that can be easily e-mailed out to your current and/or potential investors. Please e-mail bflautt@gmail.com or call (662) 392-0740 for pricing and scheduling.

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Verenium (Nasdaq: VRNM) Completes $37 Million Sale of Certain Assets to DSM

Tallahassee, FL 3/26/12 (StreetBeat) -- Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today announced it has closed a transaction with DSM Food Specialties B.V., a business group of Royal DSM, in which Verenium has sold to DSM its Oilseed Processing business, licensed certain enzymes for use in the food and beverage markets, and will provide access to new gene libraries to be developed by Verenium. Verenium will receive $37 million in total consideration, including transaction and related expenses, on Monday, March 26, 2012.

"This agreement is a further example of the substantial value industry-leading companies place on our unique products and capabilities," said James Levine, President and Chief Executive Officer at Verenium. "Moving forward, Verenium remains committed to realizing the growth potential from our commercial and pipeline products, and using our proprietary technology to create new and valuable products."

Following the transaction, Verenium's business remains focused on providing novel enzymes in the areas of animal health and nutrition, grain processing and oilfield services. In addition, Verenium's robust pipeline of novel product candidates provides an important basis for future growth.

Transaction Terms

Key terms of the agreement between the companies include:

• DSM has acquired Verenium's oilseed processing enzymes, including Purifine® PLC, product candidates, and the intellectual property covering these products and product candidates for use in the oilseed processing market. In addition, DSM has assumed Verenium's existing oilseed processing customers and the Company's partnership agreements with Bunge, Alfa Laval and Desmet Ballestra.
• Verenium has granted DSM exclusive licenses to its alpha-amylase and xylanase enzyme products for use in the food and beverage markets. Verenium retains certain rights to these products in markets outside of the food and beverage markets.
• Verenium and DSM have entered into a supply agreement for Verenium to manufacture the Purifine® PLC, alpha-amylase and xylanase products for DSM.
• Verenium will develop new gene libraries for use by DSM. Both companies will have full access to the libraries for the purpose of identifying new product opportunities. This transaction does not impact Verenium's existing gene libraries.
• The products acquired by DSM represented approximately $7.5 million in revenue to Verenium in 2011.

"We are pleased to have secured this capital without issuing new shares, and believe we have positioned ourselves to create value for shareholders. As a result of this transaction, we are able to retire our remaining debt and create a capital structure appropriate for our business," said Jeff Black, Chief Financial Officer at Verenium. "We are now better positioned to invest in our current commercial products and pipeline and focus on driving long term value."

Conference Call

The Company will provide additional information regarding this transaction during its conference call on Monday, March 26, 2012 at 4:30 p.m. EDT. This call may be accessed by dialing 877-755-7422 (domestic) or 678-894-3067 (international) and providing the passcode 66160583. A link to the live webcast may be accessed by visiting the "Investors" section of the Company's website athttp://www.verenium.com. A replay of the event will be available on the Company's website approximately two hours after the call and will be archived for 30 days.

UBS served as exclusive advisor to Verenium on this transaction. Stifel Nicolaus Weisel also served as a financial advisor to the Company.

About Verenium

Verenium, an industrial biotechnology company, is a global leader in developing high-performance enzymes. Verenium's tailored enzymes are environmentally friendly, making products and processes greener and more cost-effective for industries, including the global food and fuel markets.

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PCTEL Inc (Nasdaq: PCTI) shares tumble on guidance cut

Chicago, IL 3/23/12 (StreetBeat) – PCTEL Inc. (Nasdaq: PCTI), a supplier of wireless service-related products, on Friday cut its revenue guidance for the current quarter citing spending delays at some of its customers.

The company's new prediction fell significantly short of Wall Street expectations and PCTEL shares dropped 48 cents, or 6.9 percent, to $6.47 in midday trading. Its shares have traded in a 52-week range of $5.64 and $8.13.

For the quarter ending March 31, PCTEL said it now expects its revenue for the quarter to total between $16.5 and $17.2 million, down from its previous prediction of $19 to $20 million.

Analysts, on average, expect $19.3 million in revenue, according to a FactSet poll.

PCTEL said that as a result of the postponements, first-quarter orders for its scanning receiver products, which are distributed through providers of wireless test and measurement equipment, are down about 60 percent from historical rates.

The company said it expects orders to return to historical run rates after the customers that had postponed orders release their budgets. In addition, orders for scanning receiver are expected to increase this year, as the use of LTE systems in mobile devices expands, PCTEL said.

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Esterline (NYSE: ESL) Surges on BAE Takeover Speculation: Seattle Mover

Tallahassee, FL 3/23/12 (StreetBeat) -- Esterline Technologies Corp. (NYSE: ESL) rose to the highest price in six months on speculation that the defense and aerospace supplier is a takeover target for companies including BAE Systems Plc, Boeing Co. (NYSE: BA) and Lockheed Martin Corp. (NYSE: LMT)

Esterline, based in Bellevue, Washington, rose 8 percent to $73.75 at 10:42 a.m. in New York, and earlier touched $75, the highest in intraday trading since Sept. 1. Brian Keogh, a spokesman for Esterline, declined yesterday to comment.

The Daily Mail, a London newspaper, reported yesterday on speculation that BAE Systems, Boeing and Lockheed Martin are interested in buying Esterline and that one of them is about to begin a bid of more than $95 a share.

Also yesterday, another U.K. publication, the Guardian, reported that traders suggested BAE Systems was studying an offer and that Honeywell International Inc. (HON) and United Technologies Corp. may also be interested.

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Standard Register (NYSE: SR) expands deal with health care company

Palm Beach, FL 3/23/12 (StreetBeat) -- Standard Register Co. (NYSE: SR) has expanded an agreement with a Tennessee company that supports tens of thousands of health care providers.

The deal allows Brentwood, Tenn.-based HealthTrust Purchasing Group LP members to access Standard Register Healthcare document solutions and, for the first time, SMARTworks Clinical Enterprise, a technology platform that automates patient registration and clinical workflows.

“It’s gratifying to see how our 12-year relationship with HealthTrust has grown,” said Brad Cates, president of Standard Register Healthcare.

HealthTrust is a group purchasing organization that supports about 1,400 acute care facilities, along with 10,600 surgery centers, physician practices and alternate care sites. The company has an annual purchasing volume by its members of more than $20 billion.

Dayton-based Standard Register has about 2,600 employees, including 614 in the Dayton area.

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Monster Worldwide (NYSE: MWW) at 6-Month High After Upgrade: New York Mover

Palm Beach, FL 3/23/12 (StreetBeat) -- Monster Worldwide Inc. (NYSE: MWW), the online job-recruiting company that’s open to being acquired, rose to the highest level in more than six months after Robert Baird & Co. upgraded the stock to outperform from neutral.

Monster gained 7.1 percent to $10.16 at 10:37 a.m. in New York, after jumping to $10.22 for the highest intraday price since Aug. 31.

The New York company said March 1 that it was exploring strategic options. Yesterday Chief Executive Officer Sal Iannuzzi said he would weigh selling the company as a whole or in parts. The new rating “somewhat depends” on a positive development on that front, Mark Marcon, a Robert Baird analyst, wrote in a note today.

“A less than fruitful outcome from the effort would likely lead to a significant short-term pullback reflecting a perceived lack of value,” Marcon wrote.

While the company has “significant competitive challenges” it has “strong brand recognition” and is a well- established No.1 or No.2 franchise with recruiters across the globe, he wrote.

Robert Baird had rated the shares neutral since 2006.

“We’re agnostic as to what type of acquirer it is,” Iannuzzi said yesterday in an interview. “The real issue is we know we have value, and we know we can go around and look for opportunities to get that.”

The company is open to talking to private-equity firms, technology companies and large investors, he said.

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Cost Plus (Nasdaq: CPWM) Beats Analyst Estimates on EPS

Palm Beach, FL 3/23/12 (StreetBeat) -- Cost Plus (Nasdaq: CPWM) reported earnings yesterday. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended Jan. 28 (Q4), Cost Plus met expectations on revenues and beat expectations on earnings per share.

Compared to the prior-year quarter, revenue grew, and GAAP earnings per share improved significantly.

Margins improved across the board.

Revenue details
Cost Plus booked revenue of $364.3 million. The five analysts polled by S&P Capital IQ wanted to see revenue of $361.9 million on the same basis. GAAP reported sales were 6.7% higher than the prior-year quarter's $341.6 million.



Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
Non-GAAP EPS came in at $1.56. The six earnings estimates compiled by S&P Capital IQ predicted $1.50 per share on the same basis. GAAP EPS of $1.55 for Q4 were 26% higher than the prior-year quarter's $1.23 per share.



Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 34.3%, 120 basis points better than the prior-year quarter. Operating margin was 11.7%, 210 basis points better than the prior-year quarter. Net margin was 10.0%, 170 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $207.3 million. On the bottom line, the average EPS estimate is -$0.06.

Next year's average estimate for revenue is $1.02 billion. The average EPS estimate is $1.10.

Investor sentiment
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 54 members rating the stock outperform and 58 members rating it underperform. Among 33 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 14 give Cost Plus a green thumbs-up, and 19 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cost Plus is buy, with an average price target of $14.

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Russian Ministry says investigating Mechel's (NYSE: MTL) Yakutugol

Orlando, FL 3/22/12 (StreetBeat) – Russia's Natural Resources Ministry said on Thursday it is investigating coal producer Mechel's (NYSE: MTL) Yakutugol mines for possible violations of the terms of the production licences and that the firm could lose them following further legal steps.

Mechel, Russia's leading coking coal producer, declined to make any immediate comment on Thursday.

The Ministry said it carried out an audit at a range of Yakutugol's facilities between 2009-2011 and that this had shown possible violations of a range of clauses in the production licences related to production volumes and environmental codes.

The results of this investigation were currently being compiled, after which they would be sent to Yakutugol and possibly to the licensing commission, it said.

"The question of forwarding the designated material to the commission for terminating the right to use mineral resources (will be) examined," the Ministry said in a statement.

At 1433 GMT Mechel shares were off 8.3 percent in New York at $9.55.

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EcoloCap (OTCBB:ECOS) Positive Results in Chile Lead to Agreement

Orlando, FL 3/22/12 (StreetBeat) – EcoloCap Solutions Inc. (OTCBB:ECOS). EcoloCap is in a standstill period with Fuel Emulsions International, Inc. (FEI) of Miami, FL until March 31, 2012. Under the proposed agreement, FEI is committed to purchase, own and operate all or most of EcoloCap's manufactured processing equipment and additive for the production of M-Fuel and other specialty emulsion fuels.

The proposed agreement has been in negotiation for the last three months and follows the successful testing of M-Fuel production by Energy Partners Chile (EPC), which shared its positive results with FEI.

EcoloCap's M-Fuel is the result of years of research and development. It has been an uphill battle for the market to recognize that the breakthrough technology can reduce diesel fuel consumption by up to 30% and particulate emissions up to 98%. In these times of $100/barrel oil, ECOS is fast gaining recognition and attracting the attention of leading users of heavy oils. The proposal ECOS has received is a testimonial to that recognition.

The EcoloCap NPU line of equipment uses Nano Technology to produce M-Fuel an emulsification of typically 70% Diesel, Kerosene or other Heavy Fuel Oils, 28% water and 2% of an EcoloCap proprietary additive. Independent tests have indicated a reduction of particulate emissions of some 98% and NOX by 65% while producing almost the same efficiency as the original unprocessed fuel. The result is a reduction of up to 30% in the consumption of diesel fuel and depending upon fuel prices, cost savings can reach 25%.

Michael Siegel, CEO of EcoloCap Solutions Inc. states: "First and foremost, I want to thank our shareholders who have stood by us over the past many months. Your faith in ECOS will not go unrewarded. We at EcoloCap did not stand still. We have been searching far and wide for the best partners to capitalize on our game changing technology. "

About The Company: EcoloCap Solutions Inc. (OTCBB:ECOS) and its associated company K-MBT Inc., are focused on technology companies that utilize advanced nanotechnology to design, develop, manufacture and sell alternative energy products. http://www.EcoloCap.com.

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TearLab Corporation (Nasdaq: TEAR) Reports 2011 Financial Results

Orlando, FL 3/22/12 (StreetBeat) – TearLab Corporation (Nasdaq:TEAR) today reported its consolidated financial results for the quarter and the year ended December 31, 2011. All dollar amounts are expressed in U.S. currency and results are reported in accordance with United States generally accepted accounting principles.

For the three months ended December 31, 2011, TearLab's net revenues were $499,000 as compared to $798,000 for the same period in 2010. The Company's net loss for the three months ended December 31, 2011 was approximately $3.5 million, or $0.17. This included approximately $0.7 million in non-cash expense related to the revaluation of warrants arising from the June 2011 private placement financing. The loss for the three months ended December 31, 2010 was $0.9 million, or $0.06 per share.

For the year ended December 31, 2011, TearLab's net revenues were $2,124,000 as compared to $1,701,000 for the same period in 2010. The Company's net loss for the year ended December 31, 2011 was approximately $8.8 million, or $0.50 per share. For the year ended December 31, 2010, the loss was $6.7 million, or $0.47 per share. 2011 cash used in operating activities was approximately $6 million.

As of December 31, 2011, TearLab had $2.8 million in cash and cash equivalents.

"In many respects, we just crossed the starting line with the FDA's issuance of CLIA waiver at the end of January 2012. CLIA waiver was the final approval needed for our full commercialization of the TearLab(R) Osmolarity System in the U.S., and it came together with Medicare reimbursement of $46.80 per patient across all U.S. states. The fact that fourth quarter 2011 revenues grew sequentially by 50% over the previous quarter, despite the fact that we could only sell our device to labs and lab directors throughout the year, serves as an early indication that our new "3/15" and "3/24" marketing programs represent a great value proposition for our customers. Indeed, based on early sales activity in the few weeks since CLIA waiver was received, we remain confident that the adoption curve of this groundbreaking test will steepen significantly in 2012," commented Elias Vamvakas, TearLab's Chief Executive Officer.

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