is trading.....maybe!!
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hi stuffie!
Girls just wanna have FUN!!!
frontrunning:
Omnicom, Publicis call off proposed $35 billion merger (Reuters)
Apple in talks for $3.2bn Beats deal (FT)
Alibaba IPO Grew Out of ’80s Chaos and Guy From Goldman (BBG)
Nigeria's president at WEF pledges to free kidnapped girls (Reuters)
JPMorgan Joins Wells Fargo in Rolling Out Jumbo Offerings (BBG)
It's 1999 all over again: Young Bankers Fed Up With 90-Hour Weeks Move to Startups (BBG)
ECB stimulus talk knocks euro, peripheral yields (Reuters)
Deutsche Bank Currency Crown Lost to Citigroup on Volatility (BBG)
London Taxis Plan 10,000-Car Protest Against Uber App Use (BBG)
Pfizer Holders Could Face Tax Hit in a Deal for AstraZeneca (WSJ)
Pfizer Fights Backlash From U.K, U.S. on AstraZeneca Bid (BBG)
Profound: Worst Wall St. Offenders Should Face Criminal Charges, Expert Says (WSJ)
China blames Vietnam for sea collisions, but calls for talks (Reuters)
Overnight Media Digest
WSJ
* Advertising giants Omnicom Group and Publicis Groupe have called off their $35 billion merger amid a variety of hurdles. "There was no finish line in sight and that created uncertainty," said Omnicom's CEO. (http://r.reuters.com/jus29v)
* As more young children get their pudgy hands on their parents' mobile devices, tech and toy industry entrepreneurs are feverishly cranking out apps and gadgets aimed at these digital-savvy youngsters. A side effect of this kiddo-market miniboom is a surge in product-testing sessions relying on tot testers. (http://r.reuters.com/kus29v)
* The European Central Bank sent an unusually strong signal Thursday that it would likely cut interest rates or take other stimulus measures at its June meeting to combat too-low inflation that threatens Europe's fitful recovery. (http://r.reuters.com/sus29v)
* Pfizer could cut its tax bill by hundreds of millions of dollars if it buys AstraZeneca, but thousands of Pfizer shareholders could face a tax hit if the deal goes through. The blow stems from a little-known provision of U.S. tax rules that is triggered when a U.S. company buys a firm overseas and relocates there to reduce its taxes. (http://r.reuters.com/qus29v)
* The U.S. economy is speeding ahead this quarter - perhaps growing faster than 4 percent - as the recovery gets back on track after a winter when growth slowed to a crawl, according to The Wall Street Journal's latest survey of economists. (http://r.reuters.com/tus29v)
* Mobile messaging app developer Snapchat has agreed to settle Federal Trade Commission charges that it deceived consumers about the disappearing nature of the messages sent through its service. (http://r.reuters.com/mus29v)
* RadioShack Corp is scrapping its plan to close as many as a quarter of its U.S. stores after it failed to reach an agreement with its lenders, dealing a blow to Chief Executive Joe Magnacca's overhaul of the consumer-electronics chain. (http://r.reuters.com/vus29v)
FT
The proposed $35 billion merger between U.S. advertising company Omnicom Group Inc and French rival Publicis Groupe SA has been called off.
Apple is in talks to acquire headphones maker Beats Electronics for about $3.2 billion in what will the largest acquisition for Apple.
Andrew Goodsell, the head of Saga and the AA, is expected to benefit an estimated 80 million pound windfall from the services provider's upcoming initial public offering to the over 50s and the roadside recovery group.
Wellcome Trust, Britain's biggest medical research foundation, said it had "major concerns" about U.S. drug major Pfizer's 63 billion pound offer for AstraZeneca.
Messaging startup Snapchat has settled charges with U.S. regulators which accused it of deceiving consumers by promising that photos sent on its service disappeared forever after a certain period of time.
NYT
* Omnicom Group Inc and Publicis Groupe called off their $35 billion merger on Thursday, bringing a premature end to a deal that would have created the largest advertising company in the world. A mix of clashing personalities, disagreements about how the companies would be integrated and complications over legal and tax issues derailed the deal nine months after it was announced. (http://r.reuters.com/hes29v)
* Pfizer Inc's attempt to escape the United States corporate tax rate by acquiring a British drug maker has set off a flurry of activity within other big companies across the country. Pfizer has offered to buy AstraZeneca PLC for $106 billion. If the deal is successful, Pfizer would become an English company, reducing its tax bill by at least $1 billion a year.(http://r.reuters.com/jes29v)
* Apple Inc is in discussions to buy Beats Electronics, the company behind the popular "Beats by Dr. Dre" headphones, for $3.2 billion. The deal would also include the new Beats Music streaming service, which was introduced in January as a competitor to Spotify and Pandora. (http://r.reuters.com/mes29v)
* Snapchat, the popular mobile messaging service, agreed to settle charges by the Federal Trade Commission that messages sent through the company's app did not disappear as easily as promised. Under the terms of the settlement, Snapchat will be prohibited from misrepresenting how it maintains the privacy and confidentiality of user information. The company will also be required to start a wide-ranging privacy program and will be independently monitored for 20 years. (http://r.reuters.com/pes29v)
* Daniel Tarullo, the Federal Reserve governor who oversees regulation, said he wants to banish the practice of banks being allowed to use their own tests to assess the riskiness of their assets and activities. This suggestion represents another big shift away from a regulatory regime that left the financial system vulnerable to collapse in the 2008 crisis. (http://r.reuters.com/qes29v)
* Barclays PLC announced its plans to shrink its investment banking business by slashing half of its capital and more than a quarter of its work force, or 7,000 jobs. Instead, Barclays will focus on four core areas - retail and corporate banking, credit cards, banking in Africa and, to a lesser extent, investment banking. (http://r.reuters.com/ses29v)
* Amazon has begun discouraging customers from buying books by Malcolm Gladwell, Stephen Colbert, J. D. Salinger and other popular writers. A Hachette spokeswoman said that the publisher was striving to keep Amazon supplied but that the Internet giant was delaying shipments "for reasons of their own." (http://r.reuters.com/tes29v)
* The Federal Election Commission on Thursday voted to allow political committees to accept Bitcoin donations and outlined the ways that the virtual currency can be used by federally regulated campaigns. (http://r.reuters.com/ves29v)
* The Kellogg Company, maker of some of the country's most familiar breakfast cereals, said on Thursday that it had agreed to drop the terms "all natural" and "nothing artificial" from some products in its Kashi line as part of a settlement agreement ending a class-action lawsuit. The settlement, which includes a $5 million payment, comes at a time when food companies are facing a number of lawsuits over ingredients and labeling. (http://r.reuters.com/xes29v)
* A federal bankruptcy judge ordered LightSquared and its chief creditor, Charles Ergen, to discuss a settlement after she refused to approve the wireless provider's plan to exit its two-year bankruptcy. LightSquared premised its plan to exit Chapter 11 bankruptcy on subordinating the $1 billion it owes to Ergen, the chairman of Dish Network, to the claims of other creditors. (http://r.reuters.com/cus29v)
* William Lewis, who has served as acting chief executive of News Corp's Dow Jones division since January, has been named its permanent chief, the company announced on Thursday. (http://r.reuters.com/fus29v)
* RadioShack Corp said on Thursday that it could not come to an agreement with its lenders that would allow it to close 1,100 of its stores. The company's credit agreement allowed it to close only 200 stores a year and up to 600 over the life of the agreement. RadioShack had been negotiating with its lender for approval to close nearly twice that total number. (http://r.reuters.com/gus29v)
* CBS Corp reported on Thursday that its first-quarter earnings rose 6 percent as higher licensing fees from the company's Showtime network helped it overcome an advertising downturn caused by less sports programming. CBS has been reducing its reliance on the volatile advertising market by seeking higher fees from cable, satellite and Internet video providers. (http://r.reuters.com/hus29v)
Canada
THE GLOBE AND MAIL
* The Conservative government is vowing to fill a Quebec vacancy on the Supreme Court of Canada within weeks. However, confusion remains over how the process will unfold after Prime Minister Stephen Harper's first choice for the bench was rejected. (http://r.reuters.com/nut29v)
* Some trustees at the Toronto District School Board are calling for greater transparency in the wake of revelations that their chairman, Chris Bolton, was investigated for routing donations to his own charity. TDSB staff investigated donations intended for a Toronto elementary school that Bolton directed to his own charity before he was elected a trustee in 2003. (http://r.reuters.com/put29v)
Reports in the business section:
* Magna International Inc is putting the brakes on building new plants in Canada as it takes advantage of better opportunities abroad where vehicle production is growing. "I doubt we'll add any more plants in Canada," Magna Chief Executive Don Walker said at the company's annual meeting in Toronto. (http://r.reuters.com/qut29v)
NATIONAL POST
* U.S. investigators have uncovered a multi-million-dollar synthetic drug ring allegedly operated by a single Canadian family. For five years, father-son team Daniel and Kevin Louie, along with family matriarch Francine, funneled "tens of millions of dollars" in chemical supplies to the U.S. synthetic drug industry, according to a statement by the U.S. Department of the Treasury. (http://r.reuters.com/jyt29v)
* A 36-year-old Suncor employee was killed by a black bear at one of Canada's major oilsands sites. Lorna Weafer, an instrument technician, was doing electrical work at a job site near Fort McMurray, Alberta, when the bear attacked her. Suncor said the employees were working in a busy industrial area and were not carrying bear spray. (http://r.reuters.com/vut29v)
FINANCIAL POST
* Valeant Pharmaceuticals International Inc is slowly ramping up steps to engage the board of Botox-maker Allergan Inc in takeover talks, insisting it is "highly confident" that its efforts will result in a merger between the two companies. (http://r.reuters.com/cyt29v)
* A Unilever PLC plant in Bramalea, Ontario, which makes dry mixes for soups, sauces and other foods, will close and its production capability will be shipped to the United States, the company announced on Thursday. Most production is expected to finish by the end of next year, with the final plant closure expected in March 2016. (http://r.reuters.com/dyt29v)
China
CHINA SECURITIES JOURNAL
- The Securities Association of China said in its 2014-2020 work report that it aims to accelerate the development of private securities institutions and regulate the development of private equity markets.
- Chinese film production company Huayi Brothers Media Corp said it plans to release 32 new films this year and next, aiming for more than 10 billion yuan ($1.61 billion) in box office revenue.
SHANGHAI SECURITIES NEWS
- Chinese taxi operator Dazhong Transportation Group said it is in talks with U.S. electric car maker Tesla Motor Inc on possible cooperation in car leasing business.
- The Shanghai government is reviewing the current list of prohibited investments in the free-trade zone and aims to reduce the number of businesses currently banned from setting up in the zone. The government has already drawn up a framework for financial reform and has started introducing number of new financial rules.
CHINA BUSINESS NEWS
- The government of China's southwestern city of Chongqing unveiled plans to give private capital access to two-thirds of the city's state-owned enterprises over the next three to five years.
CHINA DAILY
- A major construction project for the TransAsian Railway Network that will help link China's Yunnan province to Myanmar will commence work in China in June, said a senior rail expert at the Chinese Academy of Engineers. Three rail lines that link China to Southeast Asian nations are included in the central government's medium and long-term railway network plan and preliminary work has already begun.
SHANGHAI DAILY
- The volume and value of land sales in Shanghai rose notably in the first four months of this year after commodity housing plots more than doubled, according to an industry report. Land parcels of 3.6 million square metres, including those designated for affordable housing purposes, were sold n the city, up 24.6 percent year on year.
- Some 68 types of antibiotics have been detected in China's surface water, a consequence of the country's chronic overuse of drugs, according to a report by Beijing's Tsinghua University.
Britain
The Telegraph
PUBLICIS AND OMNICOM CALL OFF $35BN MERGER
Omnicom's $35 billion merger with Publicis that would have created the world's largest advertising company has been called off, according to reports. (http://link.reuters.com/sur29v)
APPLE IN TALKS TO BUY DR DRE'S BEATS HEADPHONES FIRM FOR $3.2 BLN
Apple is in talks with headphone maker Beats Electronics over a $3.2 billion takeover that would rank as the iPhone giant's largest ever, according to reports. (http://link.reuters.com/tur29v)
The Guardian
LORD SAINSBURY CALLS FOR GOVERNMENT TO STOP PFIZER BUYING ASTRAZENECA
Former science minister Lord Sainsbury has launched a blistering attack on Pfizer's 63 billion pound takeover move on AstraZeneca, calling on the government to block its attempt to "dismember" a strategically important British company. (http://link.reuters.com/vur29v)
INDEPENDENT BOOKSELLERS BOLSTERED IN FIGHT AGAINST AMAZON
Independent booksellers are being sent reinforcements in the battle against Amazon with a website that will support the dwindling band of high street traders, backed by the world's largest publisher. (http://link.reuters.com/wur29v)
The Times
STANDARD CHARTERED LEFT BLOODIED BUT UNBOWED IN TOP PAY REVOLT
Investors staged this year's biggest rebellion yet against excessive boardroom rewards by casting a substantial vote against pay proposals at Standard Chartered on Thursday. (http://link.reuters.com/xur29v)
US PLAN TO CLOSE PFIZER TAX LOOPHOLE COULD SCUPPER BID FOR ASTRAZENECA
Leading Democrats in America are threatening legislation that could scupper Pfizer's 63 billion pound takeover of AstraZeneca by preventing the U.S. company from shifting its tax domicile to Britain. (http://link.reuters.com/byr29v)
Sky News
BARCLAYS: 20,000 JOB CUTS IN 'BREAK FROM PAST'
Barclays has confirmed around 20,000 job cuts under a new strategy that distances it from the 'casino banking' championed by former boss, Bob Diamond. (http://link.reuters.com/dyr29v)
SCOTSMAN OWNER CLOSES IN ON 140 MLN STG SHARE SALE
The regional newspaper publisher which owns The Scotsman and The Yorkshire Post is closing in on a financial restructuring that could involve raising as much as 140 million pound of new equity. (http://link.reuters.com/cyr29v)
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Wholesale trade inventories for March at 10:00--consensus up 0.5%
ANALYST RESEARCH
Upgrades
Bonanza Creek (BCEI) assumed with a Buy from Hold at Brean Capital
Covanta (CVA) upgraded to Overweight from Equalweight at Barclays
DISH (DISH) upgraded to Market Perform from Underperform at Raymond James
Fly Leasing (FLY) upgraded to Outperform from Market Perform at Wells Fargo
Intersil (ISIL) upgraded to Neutral from Sell at Citigroup
Lionbridge (LIOX) upgraded to Buy from Neutral at B. Riley
Louisiana-Pacific (LPX) upgraded to Buy from Neutral at Longbow
Northern Trust (NTRS) upgraded to Equal Weight from Underweight at Evercore
Occidental Petroleum (OXY) upgraded to Buy from Neutral at Citigroup
Paylocity (PCTY) upgraded to Buy from Neutral at BofA/Merrill
Suburban Propane (SPH) upgraded to Neutral from Underperform at Credit Suisse
Tower Group (TWGP) upgraded to Market Perform from Underperform at Keefe Bruyette
Triangle Capital (TCAP) upgraded to Buy from Neutral at Janney Capital
Twitter (TWTR) upgraded to Neutral from Underperform at BofA/Merrill
Valley National (VLY) upgraded to Market Perform from Underperform at Raymond James
Vitamin Shoppe (VSI) upgraded to Overweight from Equalweight at Barclays
WPX Energy (WPX) upgraded to Buy from Hold at Deutsche Bank
Downgrades
Ameren (AEE) downgraded to Equal Weight from Overweight at Morgan Stanley
Apple (AAPL) downgraded to Buy from Strong Buy at ISI Group
Comstock Resources (CRK) downgraded to Market Perform from Outperform at FBR Capital
Diamondback Energy (FANG) downgraded to Neutral from Buy at Roth Capital
Liquidity Services (LQDT) downgraded to Sector Perform from Outperform at RBC Capital
Molycorp (MCP) downgraded to Underweight from Neutral at JPMorgan
Niska Gas (NKA) downgraded to Sell from Neutral at Goldman
ON Semiconductor (ONNN) downgraded to Sell from Neutral at Citigroup
PROS (PRO) downgraded to Sector Perform from Outperform at Pacific Crest
RenaissanceRe (RNR) downgraded to Neutral from Buy at UBS
Rocket Fuel (FUEL) downgraded to Market Perform from Outperform at BMO Capital
Rocket Fuel (FUEL) downgraded to Neutral from Buy at Goldman
Roundy's (RNDY) downgraded to Neutral from Buy at BofA/Merrill
Southwest Gas (SWX) downgraded to Hold from Buy at Brean Capital
Tenaris (TS) downgraded to Equal Weight from Overweight at Morgan Stanley
Teradata (TDC) downgraded to Hold from Buy at Stifel
Wisconsin Energy (WEC) downgraded to Sell from Neutral at UBS
Initiations
Avago (AVGO) reinstated with an Overweight at Barclays
Callon Petroleum (CPE) assumed with a Buy at Brean Capital
Laredo Petroleum (LPI) assumed with a Buy at Brean Capital
New Oriental Education (EDU) initiated with an Overweight at JPMorgan
COMPANY NEWS
Omnicom (OMC) and Publicis (PUBGY) agree to terminate proposed merger of equals; Omnicom said challenges outweigh benefits of Publicis merger
News Corp. (NWSA) reported profit and revenue that was better than expected and named William Lewis CEO of Dow Jones, removing his interim title
Radioshack (RSH) scaled back its store closure plans
Gap (GPS), which reported Q1 revenue that beat expectations, said April SSS grew 9%
Symantec (SYMC) reported profit that beat estimates on sales that slightly missed expectations and said it is continuing to look for a permanent CEO
Polypore (PPO) reported earnings that just missed expectations and announced a long-term lithium separator supply agreement with Panasonic (PCRFY)
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Horizon Pharma (HZNP), Hilton (HLT), Pan American Silver (PAAS), Consolidated Edison (ED), TPG Specialty Lending (TSLX), National Fuel (NFG), Canadian Natural (CNQ), BPZ Resources (BPZ), Ormat Technologies (ORA), Nelnet (NNI), Net 1 UEPS (UEPS), Rocket Fuel (FUEL), Callon Petroleum (CPE), EnerNOC (ENOC), The Advisory Board (ABCO), Ubiquiti Networks (UBNT), AcelRx (ACRX), Power Solutions (PSIX), Athersys (ATHX), Alimera Sciences (ALIM), Paylocity (PCTY), PROS (PRO), CTPartners (CTP), Echelon (ELON), Main Street (MAIN), Pixelworks (PXLW), Universal Display (OLED), Sonic Foundry (SOFO), GrubHub (GRUB), PharmAthene (PIP), XO Group (XOXO), Encore Capital (ECPG), BioAmber (BIOA), MercadoLibre (MELI), Mettler-Toledo (MTD), Nuance (NUAN), Air Lease (AL), Performant Financial (PFMT), Alexander & Baldwin (ALEX), American Public Education (APEI), Salix (SLXP), Diodes (DIOD), Monster Beverage (MNST), News Corp. (NWSA), Envestnet (ENV), Stifel Financial (SF), Tuesday Morning (TUES), Spectrum (SPPI), CBS (CBS), Symantec (SYMC)
Companies that missed consensus earnings expectations include:
UCP, Inc. (UCP), Cal Dive (DVR), BioScrip (BIOS), Silver Standard (SSRI), Post Holdings (POST), Darling (DAR), Great Plains Energy (GXP), Alaska Communications (ALSK), Full Circle Capital (FULL), Rose Rock Midstream (RRMS), Northern Oil and Gas (NOG), Denison Mines (DNN), Third Point Reinsurance (TPRE), AuRico Gold (AUQ), Ensign Group (ENSG), SemGroup (SEMG), Verastem (VSTM), Kemper (KMPR), GAIN Capital (GCAP), XenoPort (XNPT), Approach Resources (AREX), Regulus Therapeutics (RGLS), Medivation (MDVN), Points International (PCOM), Flexion (FLXN), Zogenix (ZGNX), Polypore (PPO), Ascent Capital Group (ASCMA), ChemoCentryx (CCXI), Erickson Air-Crane (EAC), Smith Micro (SMSI), Nuverra Environmental (NES), Q2 Holdings (QTWO), Jazz Pharmaceuticals (JAZZ), Tangoe (TNGO), TearLab (TEAR), Orexigen (OREX), Clovis (CLVS), ImmunoCellular (IMUC), Manitex (MNTX), Hill International (HIL), Amyris (AMRS), Air Methods (AIRM), Scientific Games (SGMS), Arabian American Development (ARSD), Five Prime (FPRX), Emeritus (ESC), Cutera (CUTR), Emergent BioSolutions (EBS), bebe stores (BEBE), Haynes (HAYN), Ring Energy (REI), FX Energy (FXEN), Gaiam (GAIA)
Companies that matched consensus earnings expectations include:
Stratasys (SSYS), Globe Specialty Metals (GSM), Entravision (EVC), Demand Media (DMD), TransAtlantic Petroleum (TAT), Adept Technology (ADEP), Ziopharm (ZIOP), Shutterstock (SSTK), Colony Financial (CLNY), Uni-Pixel (UNXL), Clean Energy (CLNE), Applied Optoelectronics (AAOI), Brooks Automation (BRKS), Boingo Wireless (WIFI), Allscripts (MDRX), Jamba (JMBA)
NEWSPAPERS/WEBSITES
Apple (AAPL) in talks to buy Beats Electronics for $3.2B, FT says
athenahealth (ATHN) CEO says Einhorn has 'misunderstanding' of company, WSJ reports
After Omnicom (OMC) deal falls apart, Publicis (PUBGY) CEO says board backs him, Reuters says
Yahoo's (YHOO) plans to buy NDN have stalled, Re/code reports
Beats' Iovine in talks to become 'special adviser' to Apple (AAPL) CEO, NY Post says
Citigroup (C) must face lawsuit over CDOs, Bloomberg says
Credit Suisse (CS) says will work with U.S. to resolve tax issue, WSJ reports
Mitsubishi UFJ (MTU) said to mull offer for BNY's (BK) trust division, Bloomberg says
Nokia's (NOK) Lumia photography lead Partinen moving to Apple (AAPL), The Verge reports
SYNDICATE
Alcentra Capital (ABDC) 6.667M share IPO priced at $15.00
Atlas Resource Partners (ARP) 13.5M share Secondary priced at $19.90
Comstock Mining (LODE) files to sell common stock
DST Systems (DST) 5.357M share Secondary priced at $84.00
Diamond Foods (DMND) files to sell 4.45M shares of common stock
PBF Logistics (PBFX) 13.75M share IPO priced at $23.00
Pattern Energy (PEGI) 18.4M share Secondary priced at $27.75
Stone Energy (SGY) 5M share Secondary priced at $41.00
Tuniu.com (TOUR) 8M share IPO priced at $9.00
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
OLED Universal Display... 28.00 12.59%
HZNP Horizon Pharma In... 14.50 9.85%
GPS Gap Inc. 42.60 8.56%
ADEP Adept Technology ... 10.80 7.36%
BMR Biomed Realty Tru... 22.07 5.25%
JNUG Direxion Daily Jr... 18.25 4.89%
NES Nuverra Environme... 16.00 4.44%
DATA Tableau Software ... 57.00 3.24%
IPG Interpublic Group... 18.00 3.15%
CG Carlyle Group L.p... 31.20 3.07%
SBGL Sibanye Gold Ltd ... 10.63 3.00%
RNDY Roundys 4.99 2.89%
DAL Delta Air Lines 38.70 2.65%
EPI Wisdomtree India ... 19.52 2.47%
FMI Foundation Medici... 24.47 2.38%
SSLT Sesa Sterlite Lim... 12.12 2.36%
CVA Covanta Holding 19.25 2.12%
VSI Vitamin Shoppe 43.55 2.09%
PLUG Plug Power Inc. 3.71 1.92%
JKS Jinkosolar Holdin... 26.02 1.88%
Top Losing Stocks
Price %Change
FUEL Smf Energy Corp 19.50 -29.88%
UBNT Ubiquiti Networks... 36.00 -12.98%
SGMS Scientific Games ... 9.47 -12.40%
TGS Transportadora de... 2.45 -8.58%
JAZZ Jazz Pharmaceutic... 122.45 -8.41%
PEG Public Service En... 36.00 -8.09%
HPT Hospitality Prope... 29.25 -4.72%
SPLV Powershares S&p 5... 33.05 -4.40%
CNHI Cnh Industrial N.... 10.95 -3.52%
TEF Telefonica S.a. A... 15.98 -3.33%
ONNN ON Semiconductor ... 8.56 -3.28%
P Pandora Media 21.50 -3.15%
ZU zulily inc 32.00 -3.03%
HDY Hyperdynamics Cor... 3.50 -2.51%
ATRS Antares Pharma In... 2.75 -2.48%
DDD 3D Systems Corp. ... 46.50 -2.47%
SSYS Stratasys Ltd. 92.00 -2.46%
MT Arcelormittal 15.96 -2.39%
GFI Gold Fields Ltd. ... 4.01 -2.20%
KGC Kinross Gold Corp... 3.91 -2.01
Read more at http://thestockmarketwatch.com/markets/pre-market/#B7fBPOPG1DmbESiL.99
data:
JOLTS
[Report][Bullet10:00 AM ET
Wholesale Trade
[Report][Bullet10:00 AM ET
Richard Fisher Speaks
12:00 PM ET
good morning
Futures -34
was really weird....down today as well...
So how's the birthday girl? Another one on the books!
Saw you went to margaritaville....lol!
I might not post much, but I read your stuff!
Booked trip to Las Vegas for July.....will see Lady Gaga the 19th...
Having lots of fun lately....really neat!
Not much trading....in a couple of bad ones that I need to hold...
'we don't give money back!'
or at least try not too!
Frontrunning:
China’s Trade Unexpectedly Rises (BBG)
'We're already not in Ukraine' - rebel east readies secession vote (Reuters)
Pro-Russian Separatists in Ukraine Reject Putin's Call to Delay Vote (WSJ)
Hedge Funds Extend Their Slide (WSJ)
Carney Looks to Untested Tools as House Prices Boom (BBG)
New Draghi Era Seen on Hold at ECB as Euro Area Recovers (BBG)
Woman With Printer Shows the Digital Ease of Bogus Cash (BBG)
Regulators See Growing Financial Risks Outside Traditional Banks (WSJ)
Toyota Hits Operating Profit High (WSJ)
U.S. Expresses Concern Over China-Vietnam Tension (WSJ)
White House threatens veto in clash over R&D tax credit (FT)
Japan must look abroad to fill labor gap: commerce chairman (Nikkei)
Barclays to Cut 7,000 Jobs at Investment Bank by 2016 (BBG)
Son Makes $58 Billion on Alibaba With Buffett-Type Return (BBG)
Thai political turmoil putting damper on economic growth (Nikkei)
Overnight Media Digest
WSJ
* Vladimir Putin softened his attacks on a presidential election and said his troops had withdrawn from the border, but the United States dismissed the changed tone as insufficient. (http://r.reuters.com/wyk29v)
* Strains between China and its neighbors burst to the surface in two parts of the South China Sea, taking the high-stakes struggle for control over the waters to new levels of friction. (http://r.reuters.com/gam29v)
* Libyan investigators pursuing former officials' wealth believe the family of Ali Dabaiba, who ran a state agency under Gadhafi, put some of its money into the high-end London real-estate firm Chesterton Humberts. (http://r.reuters.com/qam29v)
* Pizza makers are paying serious dough for the seal of approval from a non-profit group founded in Naples, Italy, to "promote and protect ... true Neapolitan pizza." The association's aims are similar to groups that safeguard everything from French sparkling wine to Italian cheese. But the goals differ in that the pizza people say that "true" pizza can come from anywhere as long as it is made according to the "traditional methods" and conforms to an exacting series of standards. (http://r.reuters.com/ryk29v)
* Fed chief Janet Yellen offered a mostly upbeat economic outlook but signaled that her broad optimism has not altered the central bank's plan to keep short-term interest rates near zero for the foreseeable future. In testimony before Congress's Joint Economic Committee on Wednesday, Yellen said the economy was on track for "solid growth" in the current quarter after a harsh winter, but she held out housing as a potentially more lasting problem. (http://r.reuters.com/nam29v)
* FedEx Corp is changing the way it charges to ship bulky packages, jolting e-commerce companies with price increases for delivering items as diverse as diapers, shoes and paper towels. Instead of charging by weight alone, all ground packages will now be priced according to size. In effect, that will mean a price increase on more than a third of its U.S. ground shipments. (http://r.reuters.com/vam29v)
* A bumpy trading environment is tripping up hedge funds. Big stumbles by some star managers drove hedge funds to back-to-back monthly declines for the first time in two years, according to researcher HFR Inc. (http://r.reuters.com/zam29v)
* Two large consumer debt-buying firms have agreed to halt lawsuits against borrowers and to pay fines under separate settlements with New York's attorney general Eric Schneiderman, who alleged that Portfolio Recovery Associates Inc and Sherman Financial Group violated New York law by seeking court judgments against consumers even when the statute of limitations on the claims had expired. (http://r.reuters.com/mam29v)
* DirecTV is working with advisers including Goldman Sachs Group Inc to evaluate a possible combination with AT&T Inc , a sign the satellite broadcaster is seriously considering a deal with the telecom giant. (http://r.reuters.com/tam29v)
FT
Pro-Russia groups in eastern Ukraine were called upon to postpone a planned referendum on independence by Russian President Vladimir Putin on Wednesday, fuelling hopes of an easing of the crisis that has threatened to tear the country apart.
Plans to cut several thousands more jobs will be unveiled by Barclays as it announces the creation of a bad bank to house much of its investment bank and continental European retail operations. The job cuts will be in addition to the 12,000 already announced earlier.
Pfizer has been told by David Cameron that the British government wants stronger assurances of the drugs giant's commitment to UK science even as he left open the option of extending government powers to intervene in the U.S. drugmaker's 63 billion pound takeover approach for AstraZeneca .
Federal Reserve Chairwoman Janet Yellen has warned in testimony to Congress that the U.S. housing market slowdown poses a fresh risk to growth in the world's largest economy.
NYT
* The Federal Department of Transportation said on Wednesday that railroads would be required to notify local emergency responders whenever oil shipments traveled through their states. The order follows a spate of accidents that have raised concerns about the safety of trains that carry increasing amounts of crude oil from the Bakken region of North Dakota across the United States. (http://r.reuters.com/wam29v)
* Janet L. Yellen, the Federal Reserve chairwoman, told Congress on Wednesday that the economy was growing at a decent rate and that the Fed intended to continue the stimulus campaign that it considered at least partly responsible. The economy, she said, is shaking off a grim winter and the labor market is slowly improving. (http://r.reuters.com/gem29v)
* Some private investors are betting that reverse mortgages, an investment product aimed at older people in need of cash, will make a resurgence as more homeowners reach retirement age in the coming years. New Jersey-based reverse mortgage start-up Reverse Mortgage Investment Trust has raised about $230 million in a private offering. Investors in the private sale of shares included hedge funds, wealthy individual investors and customers of the investment firm. (http://r.reuters.com/hem29v)
* One of Goldman Sachs Group's most notable investment vehicles, Petershill, has been less than extraordinary. So when Goldman started a second version of Petershill, which buys stakes in big-name hedge funds, it came as a surprise to people in the industry. Goldman says it is satisfied with the pace of fund-raising, but investors do not appear to be flocking to the new fund as quickly as they did to the first one. (http://r.reuters.com/jem29v)
* A Democratic member of the Federal Communications Commission called on the agency's Chairman to delay a proposal for new net neutrality rules. Jessica Rosenworcel, one of three Democrats on the five-member commission, said a delay was warranted because of a "torrent of public response" to the idea that the commission's rules might create a fast lane on the Internet for companies willing to pay for it. (http://r.reuters.com/mem29v)
* Financial Stability Oversight Council in its annual report to the Congress said weaknesses that contributed to the disastrous 2008 financial crisis persist today. The report, released on Wednesday, highlights what it called considerable progress collectively made to improve the strength and resilience of the financial sector. (http://r.reuters.com/pem29v)
* Bank of America executives and board members faced pointed questions from shareholders on Wednesday about a costly error in the way the bank calculated its financial health. The bank disclosed on April 28 that it had made a significant error in the way it calculates a crucial measure of its financial health. (http://r.reuters.com/qem29v)
* Tesla Motors Inc reported on Wednesday that it lost $49.8 million in the first quarter as the electric carmaker accelerated the development of its new crossover vehicle and made improvements to its Model S sedan. The company also said California was now in the running for a $5 billion battery factory it plans to build. Previously, the company was considering only Arizona, New Mexico, Texas and Nevada for the factory. (http://r.reuters.com/rem29v)
* Washington law firm Patton Boggs dropped out of an effort to force Chevron Corp to pay $9.5 billion in an Ecuadorean pollution judgment on Wednesday, expressing regrets for its involvement in the case and agreeing to pay the oil company $15 million in settlement payments. (http://r.reuters.com/tem29v)
* AOL Inc said that its profit dropped to $9.3 million, or 11 cents per share, from $25.9 million a year earlier. AOL's stock plummeted more than 20 percent after the company reported that, while revenue was up 8 percent in the first quarter, net income fell 64 percent because of restructuring and other charges. (http://r.reuters.com/vem29v)
* The long-promised potential of offshore wind development along American coastlines took a step toward fruition on Wednesday as the Department of Energy pledged up to $47 million each to three projects it previously supported. The grants are intended to help the projects, off the coasts of New Jersey, Oregon and Virginia, begin delivering electricity by 2017. (http://r.reuters.com/wem29v)
Canada
THE GLOBE AND MAIL
* The chairman of Canada's largest school board directed tens of thousands of dollars intended for a Toronto elementary school to his own charity, according to confidential reviews of spending during his tenure as principal. (http://r.reuters.com/hen29v)
* The Prime Minister's Office advised Justice Marc Nadon that he could resign from the Federal Court of Appeal and become a member of the Quebec bar to ensure his eligibility for the Supreme Court, according to a media report. The report cited unnamed sources who said Justice Nadon was warned by the PMO about a possible problem with appointing him to fill a vacant Quebec seat at the Supreme Court. (http://r.reuters.com/men29v)
Reports in the business section:
* The bankruptcy of fashion retailer Boutique Jacob Inc may put landlords in the difficult position of being unable to fill the insolvent chain's 92 empty stores. U.S. retailers are more reluctant to set up shop in Canada than they were in the past five years as they start to enjoy a resurgence in business on their home turf. (http://r.reuters.com/ten29v)
NATIONAL POST
* Prime Minister Stephen Harper reportedly suggested to Federal Court judge Justice Marc Nadon to go back to Quebec to practise law for a while. In March, the Supreme Court blocked Nadon from joining their ranks because he was not a practicing Quebec lawyer. (http://r.reuters.com/xen29v)
* A Somali described as a "person-of-interest" to the Federal Bureau of Investigation is being held in Manitoba after he and another man walked across the border from Minnesota and were captured by Royal Canadian Mounted Police officers. The Canada Border Services Agency is conducting its own investigation into whether he should be deported under a section of the immigration law that applies to those engaged in terrorism, espionage and subversion. (http://r.reuters.com/bun29v)
FINANCIAL POST
* The Canadian government has decided to intervene in a court case to argue that new rules for the country's wireless providers should be retroactive. Industry Minister James Moore has requested that the attorney general act as an intervener in the case at the Federal Court of Appeal. Canada's biggest wireless operators have sought legal recourse against a new wireless code introduced in June 2013 by the Canadian Radio-television and Telecommunications Commission. (http://r.reuters.com/gun29v)
* Google Canada's managing director, Chris O'Neill, is returning to the search giant's Mountain View headquarters to take over business operations for the company's Google Glass project. Prior to joining Google Canada in 2010, O'Neill led Google's retail industry vertical in the United States. (http://r.reuters.com/mun29v)
China
CHINA SECURITIES JOURNAL
- The IPO applications of another three companies have been approved by China's securities regulator, brining the total number of approved IPOs since China resumed approvals in April to six.
SHANGHAI SECURITIES NEWS
- New index futures trade based on local stock indexes, SSE50 and CSI500, are expected to be launched shortly once regulators complete the necessary approvals, sources told the paper.
SECURITIES TIMES
- The China Securities Regulatory Commission requires IPO underwriters including Everbright Securities Co Ltd and Haitong Securities Co Ltd to submit the first batch of IPO issuance plans by Wednesday, people familiar with the issue told the paper.
SHANGHAI DAILY
- China's tax officials said new tax breaks this year will help more than 2 million small and micro firms halve their tax bills. TO enjoy a 50 percent cut in business taxes, these firms will no longer need approval from tax authorities but only have to report to tax agencies, said an official from the State Administration of Taxation.
CHINA DAILY
- More crowdfunding platforms are springing up to support entrepreneurs, but analysts warn that investor protection needs improvement. China's crowdfunding market could reach $46 billion to $50 billion by 2025, and the market for all developing countries could be $96 billion by then, according to the World Bank.
PEOPLE'S DAILY
- The essence of the religious extremism in China's western province of Xinjiang is violence and ethnic hatred. The Chinese government and the Communist Party will make great efforts to tackle this challenge and reconstruct national solidarity and social stability in Xinjiang, the paper said in an editorial.
Britain
The Telegraph
TONY HAYWARD TO BE NAMED GLENCORE XSTRATA CHAIRMAN
Former BP chief Tony Hayward is to be named as chairman of Glencore Xstrata following a year-long search to replace Sir John Bond. Hayward, who has been interim chairman since last May, is likely to step down from his role as chief executive of Genel Energy within a year or two as a result of the new appointment. (http://link.reuters.com/wak29v)
CO-OP MUST REFORM 'SOON' OR FACE BREAK-UP - LORD MYNERS
The Co-operative Group has been told that unless it undertakes radical reforms "very soon" it risks heading down a road that could end with the complete dismantlement of Britain's largest mutual into a charitable foundation that would be worth "a lot less" than members think. (http://link.reuters.com/xak29v)
The Guardian
BARCLAYS TO CUT UP TO 8,000 INVESTMENT BANKING JOBS
Barclays will announce on Thursday that it is cutting up to 8,000 investment banking roles - almost a third of the division's workforce - as it retreats from one of the most controversial parts of its business. (http://link.reuters.com/zak29v)
UK CAR SALES GROWTH MATCHES 1980S RECORD
British appetite for new cars surged ahead in April, as a rosy outlook for the UK economy triggered an upwardly revised sales forecast in 2014. New car registrations rose 8.2 percent last month, to 176,820 vehicles, marking the 26th month of rising sales. (http://link.reuters.com/cek29v)
The Times
TEMPORARY SUBSIDIES FOR HOMEBUYERS HERE TO STAY
First-time buyers will need permanent help from the state to get on to the housing ladder once interest rates start to rise, putting pressure on the government to keep subsidy schemes designed to lift Britain out of recession in place, a leading economic consultancy said. (http://link.reuters.com/dek29v)
MONEY TRANSFER 'RIP-OFF HURTS WORLD'S POOREST'
Former United Nations secretary general Kofi Annan is to call on British financial regulators to investigate a "super racket" of money transfer companies that rip off poor migrants who send cash to their families in Africa. (http://link.reuters.com/fek29v)
The Independent
PFIZER ASTRAZENECA TAKEOVER: VINCE CABLE ON COLLISION COURSE WITH TORIES OVER 63 BLN POUND BID FOR PHARMA GIANT
The potential deal between AstraZeneca and Pfizer has been championed by the Conservatives but the Business Secretary, Vince Cable, said he would not rule out intervention if the U.S. giant fails to produce "binding" promises to protect jobs and scientific research. (http://link.reuters.com/gek29v)
Sky News
BARCLAYS TO AXE 20,000 JOBS BY END OF 2016
Barclays will detail plans on Thursday to cut approximately 20,000 jobs by the end of 2016 as the bank's chief executive steps up his efforts to tackle its bloated cost base. (http://link.reuters.com/hek29v)
EX-TRADE MINISTER EYES CO-OP BANK INVESTMENT
A private equity firm which counts a former government minister among its executives is in talks to buy a stake in the Co-op's banking arm as part of its 400 million pound rescue fundraising. (http://link.reuters.com/jek29v)
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Jobless claims for week of May 3 at 8:30--consensus 330K
ANALYST RESEARCH
Upgrades
AB InBev (BUD) upgraded to Buy from Neutral at BofA/Merrill
AmREIT (AMRE) upgraded to Buy from Hold at Jefferies
Calumet Specialty Products (CLMT) upgraded to Outperform from Neutral at Credit Suisse
Fossil (FOSL) upgraded to Buy from Neutral at Citigroup
J.M. Smucker (SJM) upgraded to Neutral from Sell at Goldman
McGrath RentCorp (MGRC) upgraded to Buy from Hold at KeyBanc
Numerex (NMRX) upgraded to Buy from Hold at Canaccord
OGE Energy (OGE) upgraded to Buy from Hold at Jefferies
Planar Systems (PLNR) upgraded to Buy from Neutral at Roth Capital
SanDisk (SNDK) upgraded to Strong Buy from Outperform at Raymond James
SolarCity (SCTY) upgraded to Overweight from Neutral at JPMorgan
Sonic (SONC) upgraded to Outperform from Perform at Oppenheimer
Twitter (TWTR) upgraded to Equal Weight from Underweight at Morgan Stanley
Yelp (YELP) upgraded to Overweight from Equal Weight at Morgan Stanley
Downgrades
Diamondback Energy (FANG) assumed with a Hold from Buy at Brean Capital
Duke Energy (DUK) downgraded to Equalweight from Overweight at Barclays
Extra Space Storage (EXR) downgraded to Hold from Buy at Jefferies
FedEx (FDX) downgraded to Equalweight from Overweight at Barclays
Gulfport Energy (GPOR) downgraded to Market Perform from Outperform at Wells Fargo
HollyFrontier (HFC) downgraded to Underperform from Neutral at Macquarie
Merck (MRK) downgraded to Market Perform from Outperform at BMO Capital
Millennial Media (MM) downgraded to Perform from Outperform at Oppenheimer
Millennial Media (MM) downgraded to Underweight from Equal Weight at Morgan Stanley
ONEOK (OKE) downgraded to Market Perform from Outperform at BMO Capital
Penn National (PENN) downgraded to Underweight from Equal Weight at Morgan Stanley
Provident Financial (PROV) downgraded to Underperform at Raymond James
Public Storage (PSA) downgraded to Hold from Buy at Jefferies
SPX Corp. (SPW) downgraded to Neutral from Overweight at JPMorgan
Sanderson Farms (SAFM) downgraded to Neutral from Buy at Goldman
Western Gas Equity (WGP) downgraded to Neutral from Outperform at Credit Suisse
Initiations
Ampio (AMPE) initiated with a Buy at Citigroup
Dominion Diamond (DDC) initiated with an Equalweight at Barclays
PDC Energy (PDCE) assumed with a Buy at Brean Capital
Warren Resources (WRES) assumed with a Buy at Brean Capital
COMPANY NEWS
Barclays (BCS) increased its 2014 headcount reduction target to 14,000. The bank will reduce gross headcount in its investment bank by around 7,000 by 2016
Ford (F) announced a $1.8B share repurchase program
Tesla (TSLA) said it delivered 6,547 Model S vehicles during Q1, and said that battery cell supply will constrain production in Q2
Keurig Green Mountain (GMCR) announced the authorization of an additional $1B share repurchase program
Chesapeake (CHK) said SEC does not intend to recommend enforcement
Costco (COST) reported total company April SSS up 5%
DISH (DISH) said activated 639,000 gross new pay-TV subscribers in Q1
Amazon (AMZN) announced availability of Sunday delivery in 15 additional cities, including Austin, TX and Philadelphia, PA
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Keurig Green Mountain (GMCR), Regeneron (REGN), WhiteWave Foods (WWAV), Gray Television (GTN), EPL Oil & Gas (EPL), Mallinckrodt (MNK), Abraxas Petroleum (AXAS), Higher One (ONE), Triumph Group (TGI), Ellington Financial (EFC), Coeur Mining (CDE), LSB Industries (LXU), UGI Corporation (UGI), Relypsa (RLYP), Delek US (DK), Pharmaceuticals (AVEO), AVG Technologies (AVG), Corrections Corp. (CXW), Fox Factory (FOXF), QEP Resources (QEP), Solera (SLH), Protective Life (PL), SandRidge Energy (SD), Transocean (RIG), Textura (TXTR), Assured Guaranty (AGO), Triangle Capital (TCAP), American Water (AWK), Zillow (Z), Neenah Paper (NP), Malibu Boats (MBUU), Lannett (LCI), Tallgrass Energy (TEP), CenturyLink (CTL), Mavenir Systems (MVNR), Marin Software (MRIN), ESCO Technologies (ESE), Delcath Systems (DCTH), Millennial Media (MM), Bruker (BRKR), Numerex (NMRX), American Capital (ACAS), Navigators (NAVG), Brixmor (BRX), EnerSys (ENS), EVERTEC (EVTC), Prudential (PRU), Tesla (TSLA), 21st Century Fox (FOXA), A.V. Homes (AVHI), Franco-Nevada (FNV), OraSure (OSUR), Foundation Medicine (FMI), Unum Group (UNM)
Companies that missed consensus earnings expectations include:
Fuel Systems (FSYS), FXCM (FXCM), CaesarStone (CSTE), SunEdison (SUNE), Cogent (CCOI), AES Corp. (AES), NICE Systems (NICE), Kronos Worldwide (KRO), Tronox (TROX), Geospace (GEOS), PGT, Inc. (PGTI), Gastar Exploration (GST), Luxfer (LXFR), Atlas Financial (AFH), LHC Group (LHCG), OCI Resources (OCIR), Dynegy (DYN), AmeriGas (APU), Jones Energy (JONE), Brookdale Senior Living (BKD), Insulet (PODD), Energy Recovery (ERII), Sanchez Energy (SN), Mattersight (MATR), Global Brass & Copper (BRSS), Nektar (NKTR), Novatel Wireless (NVTL), GT Advanced (GTAT), EMCORE (EMKR), Atlas Resource Partners (ARP), Intercept (ICPT), MarkWest Energy (MWE), CF Industries (CF), Coupons.com (COUP), Gulfport Energy (GPOR), Antero Resources (AR), Quantum (QTM), Inter Parfums (IPAR), Hansen Medical (HNSN), tw telecom (TWTC), PHH Corp. (PHH), InspireMD (NSPR), Caesar's (CZR), iPass (IPAS), Annaly Capital (NLY), ICF International (ICFI), Furiex (FURX), Sucampo (SCMP), SolarCity (SCTY), XOMA (XOMA), Body Central (BODY), Andersons (ANDE), PowerSecure (POWR), McDermott (MDR), Anacor (ANAC), I.D. Systems (IDSY), Roundy's (RNDY), TransEnterix (TRXC)
Companies that matched consensus earnings expectations include:
Himax Technologies (HIMX), Student Transportation (STB), Aqua America (WTR), KCAP Financial (KCAP), Kinross Gold (KGC), PennyMac (PFSI), Immunomedics (IMMU), LivePerson (LPSN), QEP Midstream Partners (QEPM), Expeditors (EXPD), Maiden Holdings (MHLD), Information Services (III), Novavax (NVAX), Cbeyond (CBEY), Bankrate (RATE)
NEWSPAPERS/WEBSITES
DirecTV (DTV) working with Goldman (GS) on possible AT&T deal (T), WSJ says
FedEx (FDX) planning to charge by package size, WSJ reports
General Motors (GM) retains Steve Harris as adviser, Detroit News reports
AstraZeneca (AZN) shares rise on speculation of new Pfizer (PFE) offer, Reuters says
Rio Tinto (RIO) says business improvement program gaining speed, Reuters reports
Twitter (TWTR) still not cheap but could attract buyers, Barron's says
SYNDICATE
Alder Biopharmaceuticals (ALDR) 8M share IPO priced at $8.00
Atlas Resource Partners (ARP) files to sell 13.5M common units
China Commercial Credit (CCCR) 1.75M share Secondary priced at $4.00
Delek US (DK) files automatic common stock shelf for holders
Radian Group (RDN) 15.5M share Spot Secondary priced at $14.50
Stone Energy (SGY) files to sell 5M shares of common stock
Taylor Morrison (TMHC) files to sell 1.62M shares of Class A common stock
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
PME Pingtan Marine En... 4.19 25.45%
MEET Meetme Inc. 3.55 14.89%
SCTY Solarcity Corpora... 52.63 10.31%
WEN Wendys Internatio... 8.90 6.84%
MNK Mallinckrodt plc ... 79.48 6.80%
CYRN Cyren Ltd. 3.06 6.25%
JASO JA Solar Holdings... 10.40 5.58%
GIMO Gigamon 16.73 5.55%
BCS Barclays Plc Ads ... 17.41 5.45%
GMCR Keurig Green Moun... 97.07 5.27%
WBAI 500 Com Ltd. Adr ... 30.00 4.86%
GALE Galena Biopharma ... 2.70 4.65%
HIMX Himax Technologie... 8.20 4.33%
SDRL Seadrill Ltd. 36.86 3.95%
GRPN Groupon Inc. 5.54 3.94%
JNUG Direxion Daily Jr... 18.20 3.70%
SD Sandridge Energy ... 6.95 3.27%
RIG Transocean 44.72 3.21%
BT BT Group Plc Ads ... 66.13 3.20%
PANW Palo Alto Network... 61.87 3.13%
Top Losing Stocks
Price %Change
MM Millennial Media ... 3.17 -40.75%
POWR Powersecure Inter... 11.50 -38.17%
GPOR Gulfport Energy C... 60.90 -16.62%
MCP Molycorp 4.00 -12.09%
TSLA Tesla Motors Inc.... 184.79 -8.22%
NICE Nice Systems Ltd ... 39.00 -6.97%
WYNN Wynn Resorts Ltd ... 192.45 -6.09%
LVS Las Vegas Sands 73.48 -5.49%
NLY Annaly Capital Ma... 11.25 -4.98%
REGN Regeneron Pharmac... 274.00 -4.42%
JDST Direxion Daily Jr... 23.75 -3.46%
VNM Market Vectors Vi... 18.76 -3.20%
WIN Windstream Corp 8.88 -2.42%
CCCR China Commercial ... 4.30 -2.05%
CLR Continental Resou... 134.10 -2.05%
BLDP Ballard Power Sys... 2.94 -2.00%
MDR Mcdermott Interna... 7.00 -1.96%
GTAT GT Advanced Techn... 15.06 -1.95%
ANV Allied Nevada Gol... 3.04 -1.94%
UNM Unum Group 33.00 -1.84%
Read more at http://thestockmarketwatch.com/markets/pre-market/#O5ksyQh6Etwb9tyi.99
data:
Chain Store Sales
Charles Plosser Speaks
8:00 AM ET
Jobless Claims
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Daniel Tarullo Speaks
8:30 AM ET
Janet Yellen Speaks
9:30 AM ET
Bloomberg Consumer Comfort Index
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3-Month Bill Announcement
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James Bullard Speaks
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Fed Balance Sheet
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Money Supply
[Bullet4:30 PM ET
actually thought ihub was gone forever yesterday
Futures -1
good morning
was today your birthday?
you wrote about feeling another year older....
happy birthday if it is!!!
frontrunning:
Both sides bury dead as Ukraine slides towards war (Reuters)
Dollar wilts to 6 1/2-month low; shares drift (Reuters)
Draghi Grapples With Money Markets Signaling Recovery Too Early (BBG)
Foreign wristslaps: Credit Suisse Nears Record Tax Plea: Credit Suisse Settlement Expected to Exceed $1 Billion (WSJ)
OECD joins IMF in cutting global growth forecast, demanding moar QE from ECB (WSJ)
Three Bankers Bolster Blankfein as Goldman Trading Sinks (BBG)
Strong performance from eurozone services sector (FT)
OECD Cuts Forecast for 2014 Global Growth; Urges ECB Action (WSJ)
Elite Colleges Don't Buy Happiness for Graduates (WSJ)
How Russia Inc. Moves Billions Offshore -- and a Handful of Tax Havens May Hold Key to Sanctions (BBG)
Tax-Free Bonuses Disappoint as Mideast Bankers Plan Job Hunt (BBG)
More pharma phrenzy: Merck & Co sells consumer unit to Bayer for $14 billion (Reuters)
Taller Is Better as Bold London Skyscraper Bets Pay Off (BBG)
Activision places $500 million bet on its next blockbuster franchise (Reuters)
Adani’s $4.1 Billion Wealth Surge in 8 Months Fuels Attacks (BBG)
Overnight Media Digest
WSJ
* U.S. prosecutors are close to securing a guilty plea and a settlement of more than $1 billion from Credit Suisse Group over allegations the bank helped wealthy Americans evade taxes. A deal isn't guaranteed and federal prosecutors still have to agree on precisely what a guilty plea would mean for the bank's ability to operate. (http://r.reuters.com/saw98v)
* The Christmas-season cyber attack on Target Corp did more than expose customer credit-card data to potential fraud. It also turned up the heat on troubles that simmered under the six-year tenure of CEO Gregg Steinhafel, who stepped down on Monday. (http://r.reuters.com/duw98v)
* In the hard-fought world of online retail, Wal-Mart Stores Inc has finally notched a win against rival Amazon . For the first time in a decade Wal-Mart's web sales grew faster than the online retailing giant's. Wal-Mart is intent on catching up with Amazon. On Tuesday it is expected to announce the purchase of Adchemy, a search-engine marketing company that helps retailers optimize their use of search terms. (http://r.reuters.com/rew98v)
* Several big telecom deals under consideration could usher in an era of consumers getting new, flexible options to be entertained and communicate wherever and however they choose. But the path is perilous, requiring that regulators approve mergers that would create still-bigger companies in industries where Americans already have few choices. (http://r.reuters.com/paw98v)
* Florida insurance regulators are taking a hard look at a proposal to thousands of Florida teachers for free life insurance, paid for by a group of investors. (http://r.reuters.com/waw98v)
* The French government urged General Electric Co to alter the terms of its proposed $17 billion takeover of Alstom SA's energy assets, saying it would reject a deal that allowed GE to completely absorb the businesses. (http://r.reuters.com/fuw98v)
* Activist investor Daniel Loeb and auction house Sotheby's reached a settlement on Monday that concluded his seven-month campaign to shake up the company a day before shareholders were to vote on his board candidates. The pact gives Loeb three board seats and also caps his stock ownership at 15 percent. (http://r.reuters.com/vaw98v)
* Speaking at the Sohn Investment Conference, David Einhorn, founder of Greenlight Capital, sent shares of electronic health-care-records provider athenahealth Inc down 10 percent after hours after saying the stock may fall 80 percent. (http://r.reuters.com/taw98v)
* Even as it faces increased regulatory scrutiny at home, America's dirty and unwanted coal is being embraced in one of the world's cleanest energy markets: the European Union. (http://r.reuters.com/zaw98v)
* Eagle Ottawa LLC, the world's largest supplier of premium automotive leather, is on the auction block. The company, whose products are used in BMW, Chrysler and Mercedes-Benz vehicles, among others, is expected to fetch more than $650 million. (http://r.reuters.com/naw98v)
FT
AstraZeneca Chairman Leif Johansson has urged the British Prime Minister to be neutral as the drug company prepares to step up its defence against a 63 billion pound takeover bid from Pfizer.
Even as prosecutors moved closer to bringing criminal charges against two European banks, U.S. Attorney General Eric Holder said on Monday that no company was "too big to jail."
Barclays' technology banking business head, Stuart Francis, is about to leave the bank ahead of a strategic overhaul due to be announced this week, according to people familiar with the matter.
Markit is aiming to raise up to $2 billion from a U.S. listing, according to people involved in the process, as it seeks a bigger slice of the fast-changing market for complex financial markets data.
Amazon and Twitter have joined hands to let consumers tweet products they like into their shopping baskets, as technology companies search for ways to fuse social media and ecommerce.
NYT
* Sotheby's and hedge fund investor Daniel Loeb ended their long-running battle and agreed to let Loeb and two of his associates join the auction house's board. The decision is seen as a big victory for the billionaire investor's hedge fund, Third Point, the company's biggest shareholder. (http://r.reuters.com/gew98v)
* Gregg Steinhafel, chief executive of Target Corp resigned on Monday, signaling the depths of the damage done to the company by last year's breach of customer information. After extensive discussions between the board and Steinhafel, Target's board said on Monday that it had determined the company needed new leadership. (http://r.reuters.com/hew98v)
* Hedge funds, private citizens and public investors have filed a lawsuit in Federal District Court in Manhattan against five banks that make up what is known as the London gold fix. The plaintiffs accuse the banks of having used their privileged positions as market makers to rig the price of gold to their benefit. (http://r.reuters.com/jew98v)
* The Chinese government has imposed new limits on foreign brands of milk powder and infant formula sold in China, according to reports on Monday by the state-run news media. The restrictions appear to be the latest attempt by the government to reduce the enormous demand for foreign-made dairy products and bolster the sale of domestic brands. (http://r.reuters.com/new98v)
* Sarah Kavanagh, a teenager in Hattiesburg, Mississippi started a petition on Change.org to get The Coca Cola Co to drop brominated vegetable oil from Powerade. The petition attracted almost 60,000 signatures and has got the company to eliminate the ingredient from all of its drinks by the end of the year. (http://r.reuters.com/qew98v)
* Pfizer Inc announced a 15 percent drop in first-quarter earnings on Monday and renewed its call to buy British rival AstraZeneca PLC. Pfizer has aggressively pursued AstraZeneca since January - raising its offer to more than $106 billion as recently as Friday - but so far AstraZeneca has rejected its advances, saying the bids are too low. (http://r.reuters.com/sew98v)
* The French government said on Monday that it would oppose General Electric's $13.5 billion offer for a large portion of Alstom, the country's largest industrial conglomerate, saying the deal should be reconfigured on a more equitable footing. (http://r.reuters.com/tew98v)
* In the latest patent trial involving Apple Inc and Samsung Electronics Co Ltd, Apple's lawyers had noted a potential discrepancy in the jurors' damages total. The lawyers said Samsung also owed damages for a patent infringed by the Galaxy S2 smartphone. The federal jury returned to court on Monday to recalculate some of the damages Samsung owed to Apple. After making the changes, the jury came to the same overall figure of $119.6 million. (http://r.reuters.com/vew98v)
* General Motors Co said on Monday that Jim Federico, a senior engineer responsible for global vehicle integration, would retire after 36 years to pursue other interests. Federico's departure brings the number of executives who have retired or resigned to four since the automaker admitted in February that it failed for years to recall cars with faulty ignition switches linked to 13 deaths. (http://r.reuters.com/wew98v)
Canada
THE GLOBE AND MAIL
* The abrupt resignation of Target Corp Chief Executive Gregg Steinhafel raises questions about the fate of the U.S. discounter's troubled Canadian operations. Industry observers suggest that the Minneapolis-based company, which suffered a massive data breach five months ago, needs to look at major changes to its Canadian stores and possibly close some of them. (http://r.reuters.com/dux98v)
* Prime Minister Stephen Harper and Justice Minister Peter MacKay breached confidentiality rules and tried to intimidate judges when they publicly criticized Supreme Court Chief Justice Beverley McLachlin, opposition parties say. MacKay defied calls from the legal community to withdraw the allegation against the Chief Justice made by the Prime Minister's Office last Thursday.(http://r.reuters.com/jyx98v)
Reports in the business section:
* Construction of the world's first kilometer-high tower is now under way in Jeddah, Saudi Arabia. However, engineers constructing the Kingdom Tower are facing some unique challenges. Wind can sway the structures, sun can cause them to curl and columns in high concrete buildings can shorten or shrink. While there have been technological improvements that enable stronger, taller towers, Richard Witt, chair of the Council on Tall Buildings and Urban Habitat's Canadian chapter suggests that the only real magic ingredient is money. (http://r.reuters.com/jux98v)
NATIONAL POST
* Scientist Wang Hongwei, who obtained a degree in pharmaceutical technology from the Montreal University and held dual Chinese-Canadian citizenship, has been declared wanted by the Federal Bureau of Investigation for conspiring to steal trade secrets, part of an alleged plot to export to China genetically modified corn seed stolen from farmers' fields in the U.S. Midwest. (http://r.reuters.com/qux98v)
* Conservative senator Don Meredith of Toronto has repaid the cost of a contentious trip to Washington, D.C., even as fresh, unrelated questions emerge about his resume. It is unclear how much he repaid from the trip to the National Prayer Breakfast, a gathering of 3,000 international politicians and diplomats, which included a hotel bill of almost $1,300. (http://r.reuters.com/nyx98v)
FINANCIAL POST
* In the latest twist on the mortgage wars being waged by Canadian banks to win customers, Royal Bank of Canada is taking a page from auto dealers by offering "employee pricing" to home buyers. The same interest rate offered to RBC employees is being given to customers seeking new mortgages across Canada. (http://r.reuters.com/myx98v)
* A recently released report on the Canadian government's protectionist policies highlights the rising differences in wholesale prices between the United States and Canada. Canadians pay more than Americans for goods, especially food, because of Ottawa's policies, the C.D. Howe report suggests. (http://r.reuters.com/wux98v)
China
CHINA SECURITIES JOURNAL
- Regulators are investigating state-owned property developers, with the real estate business arms of some enterprises to be eliminated, sources said.
SHANGHAI SECURITIES NEWS
- Shanghai's state-owned Assets Supervision and Administration Commission is expected to roll out details of ownership reform in state-owned enterprises within a month, sources said.
SECURITIES TIMES
- On Friday, the China Securities Regulatory Commission (CSRC) will start reviewing IPO applications from three companies that want to list on ChiNext, China's small-cap growth market board at the Shenzhen Stock Exchange.
CHINA DAILY
- Genetically modified food research groups in China will strengthen supervision of GM samples following an alleged case of theft at a research base in Hainan province on April 11. A notice from the Ministry of Agriculture last month said stealing the country's GM technology and seed samples could cause irreparable damage to the nation.
SHANGHAI DAILY
- Chinese Premier Li Keqiang unveiled extra aid for Africa totalling at least $12 billion on May 5, and offered to share advance technology with the continent to help with the development of high-speed rail to boost pan-African communication and development.
PEOPLE'S DAILY
- Rural residents' 2013 per capita income in China's poor regions increased by 16.6 percent and 13.4 percent on nominal and real basis respectively, exceeding the growth rates of the national average level in rural areas, according to data from the National Bureau of Statistics. More non-agricultural job opportunities and a faster pace of wages rising were credited as the main drivers of the change.
Britain
The Telegraph
PFIZER BOSS SAYS ASTRAZENECA TAKEOVER WILL CUT DRUG COSTS
Pfizer boss Ian Read has claimed that an AstraZeneca takeover would reduce the cost of medical treatment, as the U.S. pharmaceuticals giant battled to win political support for the 63 billion pound deal. (http://link.reuters.com/tuv98v)
RAPID UK GROWTH ON COURSE TO CONTINUE
Britain's rapid growth rate will become "ingrained" and more balanced, the European Commission said on Monday, as two separate reports suggested the strong rate of expansion was likely to continue. (http://link.reuters.com/suv98v)
The Guardian
PFIZER'S ASTRAZENECA BID UNDER SCRUTINY BY MPS AMID FEARS OVER INDUSTRY FUTURE
The controversial takeover of AstraZeneca by U.S. drugs group Pfizer is to be investigated by MPs, who are being urged to take evidence from their chiefs amid fears the 63 billion pound transaction could threaten the future health of the UK's science base. (http://link.reuters.com/vuv98v)
UK ENERGY TOO CHEAP, SAYS STUDY
The government must urgently establish a strategic authority to oversee the future growth of Britain's ageing energy infrastructure, a study by academics at Newcastle University argues on Tuesday. (http://link.reuters.com/xuv98v)
The Times
ROYAL MAIL A HOSTAGE TO FORTUNE ON CHIEF MOYA GREENE'S PAY
Royal Mail is on a collision course with its largest shareholder over demands for a big pay rise for its chief executive. (http://link.reuters.com/byv98v)
TESCO POUND ZONES TAKE FIGHT TO DISCOUNT STORES
Tesco is to open hundreds of "Pound Shop" zones within its biggest supermarkets to take on the discount stores. (http://link.reuters.com/cyv98v)
Sky News
MILIBAND URGES CAUTION ON PFIZER TAKEOVER BID
Ed Miliband has written to the Prime Minister to demand a full assessment of whether drugs company Pfizer's bid for UK-based AstraZeneca would be good for Britain. (http://link.reuters.com/gyv98v)
ROYAL MAIL PLOTS BOND ISSUE AS ROW RAGES ON
Royal Mail is weighing a move into the bond markets to raise hundreds of millions of pounds even as the row over the postal operator's privatisation looks set to continue. (http://link.reuters.com/hyv98v)
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Trade balance for March at 8:30--consensus deficit -$40.5B
ANALYST RESEARCH
Upgrades
Anadarko (APC) upgraded to Buy from Neutral at Citigroup
Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho
Bill Barrett (BBG) upgraded to Outperform from Market Perform at Wells Fargo
BroadSoft (BSFT) upgraded to Outperform from Market Perform at Cowen
BroadSoft (BSFT) upgraded to Outperform from Market Perform at Raymond James
CareFusion (CFN) upgraded to Neutral from Sell at Goldman
Charles Schwab (SCHW) upgraded to Outperform from Neutral at Credit Suisse
Danske Bank (DNSKY) upgraded to Outperform from Neutral at Credit Suisse
DreamWorks upgraded to Equal Weight from Underweight at Morgan Stanley
Essent Group (ESNT) upgraded to Outperform from Neutral at Macquarie
Seattle Genetics (SGEN) upgraded to Neutral from Underperform at BofA/Merrill
Trex Company (TREX) upgraded to Buy from Neutral at SunTrust
Valero (VLO) upgraded to Outperform from Perform at Oppenheimer
Downgrades
Cimarex Energy (XEC) downgraded to Hold from Buy at Societe Generale
Concho Resources (CXO) downgraded to Hold from Buy at Societe Generale
Continental Resources (CLR) downgraded to Hold from Buy at Societe Generale
DCT Industrial (DCT) downgraded to Hold from Buy at Stifel
EastGroup Properties (EGP) downgraded to Hold from Buy at Stifel
Fabrinet (FN) downgraded to Hold from Buy at Needham
First Industrial Realty (FR) downgraded to Sell from Hold at Stifel
InterContinental Hotels (IHG) downgraded to Neutral from Buy at UBS
KBR (KBR) downgraded to Neutral from Buy at UBS
Liberty Property (LPT) downgraded to Hold from Buy at Stifel
Prologis (PLD) downgraded to Sell from Hold at Stifel
Swift Energy (SFY) downgraded to Underperform from Neutral at Credit Suisse
Target (TGT) downgraded to Neutral from Buy at MKM Partners
Initiations
Boulder Brands (BDBD) initiated with a Neutral at Longbow
Cabot Oil & Gas (COG) assumed with a Hold at Brean Capital
Cerulean (CERU) initiated with an Outperform at JMP Securities
Chambers Street Properties (CSG) initiated with a Perform at Oppenheimer
Duke Realty (DRE) initiated with an Outperform at Oppenheimer
National Retail Properties (NNN) initiated with an Outperform at Oppenheimer
Phibro Animal Health (PAHC) initiated with a Buy at BofA/Merrill
Phibro Animal Health (PAHC) initiated with a Buy at Cantor
Phibro Animal Health (PAHC) initiated with a Buy at Guggenheim
Phibro Animal Health (PAHC) initiated with an Equal Weight at Morgan Stanley
Phibro Animal Health (PAHC) initiated with an Overweight at Barclays
Prologis (PLD) initiated with an Outperform at Oppenheimer
Range Resources (RRC) assumed with a Buy at Brean Capital
Synaptics (SYNA) initiated with an Outperform at Imperial Capital
TriNet (TNET) initiated with a Hold at Jefferies
TriNet (TNET) initiated with an Overweight at JPMorgan
TriNet (TNET) initiated with an Overweight at Morgan Stanley
Verastem (VSTM) initiated with a Buy at Deutsche Bank
Zoe's Kitchen (ZOES) initiated with a Buy at Stifel
Zoe's Kitchen (ZOES) initiated with a Hold at Jefferies
Zoe's Kitchen (ZOES) initiated with an Overweight at Piper Jaffray
COMPANY NEWS
Merck (MRK) announced the sale of its consumer care business to Bayer (BAYRY) for $14.2B
AstraZeneca (AZN) forecast annual revenue over $45B by 2023
Microsoft's (MSFT) Xbox head said doesn't see doing dedicated handheld gaming device
Avago Technologies (AVGO) will join the S&P 500 after the close on May 7 following the expected closing of its deal to acquire LSI Corp. (LSI)
David Einhorn, in a presentation at the Sohn Investment Conference, said he is short athenahealth (ATHN) and believes shares could fall 80%
Baxter (BAX) raised its quarterly dividend 6% to 52c per share
Trinity Industries (TRN) declared a 2-for-1 stock split, raised its quarterly dividend 33%
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Montage Technology (MONT), Cinemark (CNK), Chesapeake Utilities (CPK), Northern Tier (NTI), WellCare (WCG), Western Refining (WNR), BofI Holding (BOFI), Towers Watson (TW), Acorda Therapeutics (ACOR), PetroQuest (PQ), VIVUS (VVUS), Tenet (THC), Regal-Beloit (RBC), Allied Nevada Gold (ANV), EarthLink (ELNK), Hecla Mining (HL), Mindray Medical (MR), JBT Corporation (JBT), TeleTech (TTEC), Stone Energy (SGY), Alleghany (Y), Emerald Oil (EOX), KAR Auction (KAR), Comstock Resources (CRK), Hillenbrand (HI), Transcept Pharmaceuticals (TSPT), ZipRealty (ZIPR), Veeco (VECO), Advanced Energy (AEIS), Alexza Pharmaceuticals (ALXA), Medifast (MED), Nautilus (NLS), ChannelAdvisor (ECOM), Black Diamond (BDE), LeapFrog (LF), Anadarko (APC), Cardtronics (CATM), Integrated Device (IDTI), Scotts Miracle-Gro (SMG), AIG (AIG), Genpact (G), Argo Group (AGII), Qualys (QLYS)
Companies that missed consensus earnings expectations include:
Vantage Drilling (VTG), Goodrich Petroleum (GDP), Zebra Technologies (ZBRA), Atlas Pipeline Partners (APL), Tenet (THC), Universal American (UAM), Mid-Con Energy (MCEP), Axiall (AXLL), Hi-Crush Partners (HCLP), Rosetta Resources (ROSE), Willbros Group (WG), Albany International (AIN), Park-Ohio (PKOH), Murphy USA (MUSA), Celluar Dynamics (icel), Fluidigm (FLDM), Solazyme (SZYM), Greenlight Capital Re (GLRE), FairPoint (FRP), Carmike Cinemas (CKEC), Hanger (HGR), Skilled Healthcare (SKH), Interactive Intelligence (inin), Pike Electric (PIKE), Primerica (PRI), Redwood Trust (RWT), Texas Roadhouse (TXRH), Sykes Enterprises (SYKE), Amicus Therapeutics (FOLD), CareFusion (CFN), Peregrine (PSMI)
Companies that matched consensus earnings expectations include:
Western Refining Logistics (WNRL), Pacific Drilling (PACD), American Capital Senior Floating (ACSF), National CineMedia (NCMI), TherapeuticsMD (TXMD), Danaos (DAC), NIC Inc. (EGOV)
NEWSPAPERS/WEBSITES
French President says GE's (GE) Alstom bid 'not acceptable,' Reuters says
Credit Suisse (CS) close to $1B settlement with U.S., WSJ reports
Banks (BCS, DB, SCGLY, HSBC) sued over alleged gold price manipulation, NY Times reports
Yahoo (YHOO) could become takeover target, Re/code says
Google (GOOG) is planning to debut Google Wallet on Google Glass, TechCrunch reports
Microsoft (MSFT) may announce Surface Mini at May 20 event, The Next Web reports
Barclays' (BCS) Stuart Francis to leave for Evercore (EVR), FT reports
Tencent (TCEHY) to obtain 11% stake in digital map provider Navinfo, Xinhua reports
SYNDICATE
DST Systems (DST) files to sell $450M of common stock for holder
Enphase Energy (ENPH) files to sell 5M common shares for holders
Martin Midstream Partners (MMLP) files to sell 3.6M common units
Pattern Energy (PEGI) files to sell $400M of common stock
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
FST Forest Oil Corp. ... 2.25 25.70%
ODP Office Depot Inc.... 4.65 11.51%
DATA Tableau Software ... 63.00 8.64%
FLEX Flextronics Inter... 10.00 5.26%
VTNR Vertex Energy Inc... 8.50 5.20%
ANV Allied Nevada Gol... 3.65 5.19%
VVUS Vivus Inc. 5.44 4.82%
ALU Alcatel-lucent Ad... 4.06 4.37%
ARTX Arotech Corporati... 3.89 4.29%
ARCI Appliance Recycli... 3.00 4.13%
APC Anadarko Petroleu... 103.50 4.03%
EOG Eog Resources Inc... 103.00 3.78%
RUSL Direxion Daily Ru... 13.20 3.53%
HMY Harmony Gold Mini... 3.45 3.29%
DWCH Datawatch Corpora... 13.45 3.22%
ITMN Intermune Inc. 36.25 3.19%
HSH Hillshire Brands ... 36.41 3.14%
AVGO Avago Technologie... 66.18 3.00%
CRK Comstock Resource... 26.75 2.92%
GRUB Grubhub Inc 32.50 2.75%
Top Losing Stocks
Price %Change
ATHN athenahealth Inc.... 112.00 -11.66%
AEIS Advanced Energy I... 18.92 -11.55%
GFA Gafisa S/a Ads 3.17 -6.49%
HDY Hyperdynamics Cor... 4.22 -5.38%
CSUN China Sunergy Co.... 2.97 -3.57%
RUSS Direxion Daily Ru... 17.81 -3.52%
NUS Nu Skin Enterpris... 84.51 -3.51%
NBG National Bank of ... 3.92 -3.45%
APOL Apollo Group Inc.... 28.20 -3.42%
AIG American Internat... 51.25 -2.79%
BCS Barclays Plc Ads ... 16.80 -2.78%
TWTR Twitter Inc 37.80 -2.45%
BLDP Ballard Power Sys... 3.26 -2.40%
ZBRA Zebra Technologie... 70.50 -2.35%
NVDA Nvidia Corp 18.20 -2.31%
SFY Swift Energy Co. ... 10.70 -2.19%
YY YY Inc. 60.75 -1.95%
LOGI Logitech Internat... 13.14 -1.94%
MOS Mosaic Company 48.75 -1.93%
LGF Lions Gate Entert... 26.00 -1.59%
Read more at http://thestockmarketwatch.com/markets/pre-market/#tj0qj9DP7U01MWgA.99
data:
ICSC-Goldman Store Sales
[Report][Bullet7:45 AM ET
Gallup US ECI
[Bullet8:30 AM ET
International Trade
[Report][Star]8:30 AM ET
Redbook
[Bullet8:55 AM ET
4-Week Bill Auction
[Bullet11:30 AM ET
3-Yr Note Auction
[Bullet1:00 PM ET
Treasury STRIPS
[Bullet3:00 PM ET
Jeremy Stein Speaks
6:15 PM ET
good morning
Futures +6
Earnings Preview for the week of May 5 - 9 some of the bigger names include:
Monday:
Pre Market - PFE, SYY, TSN, OXY, RLGY, WLP, KOP, OWW, TESO, HL
After Hours - AIG, THC, APC, EOG, SMG, AXLL, CFN, VNO,
Tuesday:
Pre Market - DTV, UBS, EMR, ARW, BCE, HFC, ODP, FE, WCG, NRG, HSIC, WNR, MOS, ACM, DISCA, ZTS, AME, ARCO, HSH, TW, NUS
After Hours - ETE, ETP, DIS, ALL, LBTYA, CYH, SXL, OKE, MRO, WFM, OKS, AGU, ARRS, FTR, QUAD, LYV, DPM, PXD, FSLR, GRPN, ATVI, ZU, PEGA, BID, PBPB,
Wednesday:
Pre Market - HUM, BUD, MDLZ, ENB, DUK, CHK, BAM, HNT, DVN, HTZ, CTSH, VOYA, SE, AGN, SUSS, TLM, POM, KELYA, SUSP, PRGO, SPB, AOL,
After Hours - PRU, PAA, CTL, UGI, UNM, RIG, CZR, CAR, DK, EXPD, ATO, KND, APU, ANDE, MKL, CF, PL, GMCR, EVHC, RNDY, CLR, TGI, WGL, KGC, BKD, SFM, TSLA, TWTC, NLY, Z, SCTY,
Thursday:
Pre Market - MGA, CAJ, GLP, AES, APA, DISH, CDW, PCP, DF, CORE, VC, VRX, PCLN, HII, CVC, AEE, WIN, MPEL, ICE, HCN, SPH, WWAV, SKYW, SUNE, SNI, MNK, DNDN,
After Hours - CBS, ED, CSC, SYMC, NVDA, MNST, MTD, NUAN, KRO, SGMS, MDRX, MDVN,
Friday:
Pre Market - MT, CNQ, ALU, HLT, RL, BLMN, SATS, CQB
After Hours - VVC
TRADER RADAR FOR WEEK OF 5/5/5/9 ECONOMIC AND EARNINGS AHEAD
Monday, May 5
US Economics (Time Zone: EST)
10:00 ISM Services (Apr) - expected 54.0, prior 53.1
11:00 Fed to purchase $2.25b-$2.75b notes in 7 to 10-year range
11:30 Treasury selling $25b 3-month, $23b 6-month bills
Global Economics (Time Zone: GMT)
01:45 CNY HSBC Manufacturing PMI (final)
08:30 EUR Eurozone Sentix Investor Confidence
09:00 EUR Eurozone PPI
Earnings
Before:
Pfizer (PFE)
Sysco (SYY)
Tyson Foods (TSN)
After:
Anadarko Petroleum (APC)
EOG Resources (EOG)
Vivus (VVUS)
ChannelAdvisor (ECOM)
RetailMeNot (SALE)
Tuesday, May 6
US Economics (Time Zone: EST)
08:30 Trade Balance (Mar) - expected -$40.2B, prior -$42.3B
11:00 Fed to purchase $850m-$1.1b bonds in 22 to 30-year range
11:30 Treasury selling 4-week bills
1:00 Treasury selling $29b 3-year notes
Fedspeak
7:00pm Stein (board, hawkish) speaks in New York
Global Economics (Time Zone: GMT)
04:30 AUD RBA Rate Decision
08:00 EUR Eurozone Services PMI (final April)
08:30 GBP Services PMI (Apr)
09:00 EUR Eurozone Retail Sales (MoM)
14:00 CAD Ivey PMI (Apr)
Earnings
Before:
Emerson Electric (EMR)
Goodrich Petroleum (GDP)
HollyFrontier (HFC)
NuSkin (NUS)
DirecTV (DTV)
Mosaic (MOS)
Discovery Communications (DISCA)
After:
Allstate (ALL)
Disney (DIS)
Marathon Oil (MRO)
Electronic Arts (EA)
Whole Foods (WFM)
Frontier Communications (FTR)
Office Depot (ODP)
FireEye (FEYE)
Groupon (GRPN)
First Solar (FSLR)
Wednesday, May 7
US Economics (Time Zone: EST)
07:00 MBA Mortgage Applications
08:30 Nonfarm Productivity (1Q prelim) - expected -0.8%, prior 1.8%
08:30 Unit Labor Costs - exp 2.4%, prior -0.1%
3:00 Consumer Credit (Mar) - exp $16.1B, prior $16.489B
1:00 Treasury selling $24b 10-year notes
Fedspeak
10:00 a.m. Yellen (chair, dove) testifies to Joint Economic Committee
Global Economics (Time Zone: GMT)
JPY BoJ Apr minutes
NZD Employment Change
JPY Services PMI
01:30 AUD Retail Sales
01:45 CNY HSBC Services PMI
06:00 EUR German Factory Orders
12:30 CAD Building Permits
Earnings
Before:
Sotheby's (BID)
Molson Coors (TAP)
Chesapeake Energy (CHK)
Devon Energy (DVN)
Duke Energy (DUK)
After:
21st Century Fox (FOXA)
Avis Budget (CAR)
Green Mountain (GMCR)
Prudential Financial (PRU)
Annaly Capital (NLY)
Gulfport Energy (GPOR)
CF Industries (CF)
Tesla Motors (TSLA)
SolarCity (SCTY)
Zillow (Z)
Caesars Entertainment (CZR)
AOL (AOL)
Thursday, May 8
US Economics (Time Zone: EST)
08:30 Initial Jobless Claims - expected 325K, prior 344K
08:30 Continuing Claims - exp 2755K, prior 2771K
11:00 Fed purchasing $550m-$800m TIPS in 4 to 30-year range
1:00 Treasury selling $16b 30-year bonds
Fedspeak
9:00am Plosser (voter, hawk) speaks in New York
9:25am Evans (nonvoter, dove) speaks at Chicago banking conference
9:30am Tarullo (board, dove) speaks at Chicoag banking conference
9:30am Yellen (chair, dove) testifies to Senate Budget Committee
2:00pm Bullard (nonvoter, currently hawkish) speaks at conference in St Louis
Global Economics (Time Zone: GMT)
CNY Trade Balance (Apr)
01:30 AUD Employment Change
06:00 EUR German Industrial Production
07:15 CHF CPI
11:00 GBP BoE Rate Decision
11:45 EUR ECB Rate Decision
12:15 CAD Housing Starts and New Home Price Index
Earnings
Before:
Cablevision (CVC)
Wendy's (WEN)
CBS (CBS)
Regeneron (REGN)
Dean Foods (DF)
Apollo Global Management (APO)
IntercontinentalExchange Group (ICE)
Nastionstar Mortgage Holdings (NSM)
Priceline.com (PCLN)
After:
NVIDIA (NVDA)
Stifel Financial (SF)
Symantec (SYMC)
Nuance (NUAN)
Medivation (MDVN)
RocketFuel (FUEL)
Monster Beverage (MNST)
Friday, May 9
US Economics (Time Zone: EST)
10:00 JOLTs Job Openings - prior 4173
10:00 Wholesale Inventories - exp 0.5%, prior 0.5%
11:00 Fed purchasing $1.5b-$2b notes in 6 to 7-year range
Fedspeak
Kocherlakota (dove, voter) speaks in Minnesota
Global Economics (Time Zone: GMT)
01:30 CNY CPI & PPI
01:30 AUD RBA Statement on Monetary Policy
06:00 EUR German Trade Balance
08:30 GBP Trade Balance
08:30 GBP Manufacturing and Industrial Production
12:30 CAD Employment Change (Apr)
14:00 GBP NIESR GDP Estimate (Apr)
Earnings
Before:
Ralph Lauren (RL)
Hilton Worldwide (HLT)
frontrunning:
Fed’s Fisher Says Economy Strengthening as Payrolls Rise (BBG)
Russia Knows Europe Sanctions Ineffective With Tax Havens (BBG)
EU Cuts Euro-Area Growth Outlook as Inflation Seen Slower (BBG)
U.S. Firms With Irish Addresses Get Tax Breaks Derided as ‘Blarney’ (BBG)
Portugal exits bailout without safety net of credit line (Euronews)
Puzzled Malaysian Air Searchers Ponder What to Try Now (BBG)
Barclays, Credit Suisse Battle Banker Exodus, Legal Woes (BBG)
Germany says euro level not an issue for politicians (Reuters)
Alibaba-Sized Hole Blown in Nasdaq 100 Amid New Stock (BBG)
Obamacare to save large corporations hundreds of billions (The Hill)
Specter of SARS weighs on CDC as MERS virus lands in U.S. (BBG)
Nine badly hurt in U.S. circus 'hair hang' accident (Reuters)
Australia Promises Shared Burden Amid Doubts on Debt Levy (BBG)
Swiss Seek ‘Fair’ U.S. Treatment of Banks, Meet With DOJ (BBG)
Overnight Media Digest
WSJ
* U.S.-based companies this year have proposed or agreed to $637.95 billion worth of mergers or acquisitions - either as the buyer or the target. The rise in merger-and-acquisition activity comes as investors increasingly shun riskier, high-growth areas of the market, especially newly minted stocks. (http://r.reuters.com/ceq98v)
* As Alibaba prepares to submit its first major filings as early as this week in what could be one of the largest initial public offerings in U.S. history, Jack Ma - now executive chairman - still looms large in the company's dealings. Even though he is no longer CEO, Ma remains the face of Alibaba. (http://r.reuters.com/deq98v)
* Crackdowns and new rules on banks are creating a hot employment market in one corner of Wall Street: risk and compliance. Due to stepped-up regulatory oversight and some high-profile lapses, banks are boosting hiring of workers who evaluate risks and make sure their firms comply with laws and regulations. JP Morgan Chase & Co has been the most aggressive, with plans to add more than 13,000 people to its staff tasked with bolstering controls. (http://r.reuters.com/duq98v)
* Apple Inc won a $119 million jury verdict against Samsung Electronics Co for infringing on three of its patents. But it didn't achieve a key goal: inflicting pain on its Korean rival. The late Friday verdict also did little to derail the momentum of Google Inc's Android operating system, which has eclipsed Apple's, first with high-end iPhone alternatives from Samsung and now with low-cost smartphones from Chinese manufacturers. (http://r.reuters.com/huq98v)
* Warren Buffett is widely celebrated for his plain-spoken, straight-shooting manner, but the chairman of Berkshire Hathaway Inc showed on Saturday before thousands of shareholders that he sometimes values degrees of nuance. Shareholders and analysts peppered Buffett and Charles Munger, Berkshire's vice chairman, with questions about where Berkshire's weaknesses lie, and whether Buffett's eldest son, Howard Buffett, is the right man to be Berkshire's future non-executive chairman. (http://r.reuters.com/jeq98v)
* Symantec Corp invented commercial antivirus software to protect computers from hackers a quarter century ago. Now the company says such tactics are doomed to failure. Antivirus "is dead," says Brian Dye, Symantec's senior vice president for information security. "We don't think of antivirus as a moneymaker in any way." (http://r.reuters.com/heq98v)
* Banks are again doling out money to hedge funds and other investors to finance purchases of complex debt securities, returning to a practice that helped fuel the debt boom ahead of the financial crisis. RBC Capital Markets, Société Générale and Wells Fargo & Co are among the banks offering to let investors borrow money, also known as providing leverage, to buy collateralized loan obligations, say investors and bankers. (http://r.reuters.com/zeq98v)
FT
* Even after a year post Tumblr's acquisition by Yahoo! Inc , the biggest issue bothering Tumblr's Chief Executive David Karp is: how to generate significant revenue growth from the blogging service. But rather than slap banner ads and risk a mutiny from users, the company is working with advertisers to encourage them to create their own Tumblr pages and come up with creative material - also known as native advertising - that fans can interact with. (http://r.reuters.com/teq98v)
* HBO's popular TV series Game of Thrones has generated a lot of buzz among its coveted demographic of younger, wealthier viewers. But with no televised advertisements during the show, companies are trying to reach viewers through their smartphones, tablets and laptops with social media posts. (http://r.reuters.com/veq98v)
* John Heilemann and Mark Halperin, political journalists known for their books on the past two presidential campaigns, will join Bloomberg in the coming days to start a new site that will focus on American politics and policy. (http://r.reuters.com/xeq98v)
* Created 25 years ago to provide movie listings on phone, Moviefone is set to re-launch as a free app and a website on Monday. Moviefone makes money mostly by selling advertising, which is shared by AOL Inc and Whalerock. AOL said that Moviefone has about 10 million users. (http://r.reuters.com/cuq98v)
* Hedge fund Greenlight Capital has requested the Securities and Exchange Commission for confidential treatment of its buying strategy on Micron Technology Inc. The firm said disclosure of its buying strategy on Micron would cause "substantial" financial harm to its investors because the hedge fund intended to keep accumulating shares for at least another week. (http://r.reuters.com/guq98v)
* Portugal announced its exit from a three-year bailout program that has forced deep spending cuts and set off mass protests. Prime Minister Pedro Passos Coelho said that Portugal had built up sufficient financial reserves to end the program on schedule, without requesting any additional line of credit from its European counterparts. (http://r.reuters.com/juq98v)
* Ukraine has been pushing hard to start reverse-flow deliveries of gas from Europe via Slovakia to Ukraine, thus blunting repeated Russian threats to turn off the gas tap. An agreement signed last week between Slovak and Ukrainian pipeline operators opened the way for modest reverse-flow deliveries of gas from Europe, where prices are much lower than those demanded by Gazprom for its direct sales to Ukraine. (http://r.reuters.com/kuq98v)
NYT
* Even after a year post Tumblr's acquisition by Yahoo! Inc , the biggest issue bothering Tumblr's Chief Executive David Karp is: how to generate significant revenue growth from the blogging service. But rather than slap banner ads and risk a mutiny from users, the company is working with advertisers to encourage them to create their own Tumblr pages and come up with creative material - also known as native advertising - that fans can interact with. (http://r.reuters.com/teq98v)
* HBO's popular TV series Game of Thrones has generated a lot of buzz among its coveted demographic of younger, wealthier viewers. But with no televised advertisements during the show, companies are trying to reach viewers through their smartphones, tablets and laptops with social media posts. (http://r.reuters.com/veq98v)
* John Heilemann and Mark Halperin, political journalists known for their books on the past two presidential campaigns, will join Bloomberg in the coming days to start a new site that will focus on American politics and policy. (http://r.reuters.com/xeq98v)
* Created 25 years ago to provide movie listings on phone, Moviefone is set to re-launch as a free app and a website on Monday. Moviefone makes money mostly by selling advertising, which is shared by AOL Inc and Whalerock. AOL said that Moviefone has about 10 million users. (http://r.reuters.com/cuq98v)
* Hedge fund Greenlight Capital has requested the Securities and Exchange Commission for confidential treatment of its buying strategy on Micron Technology Inc. The firm said disclosure of its buying strategy on Micron would cause "substantial" financial harm to its investors because the hedge fund intended to keep accumulating shares for at least another week. (http://r.reuters.com/guq98v)
* Portugal announced its exit from a three-year bailout program that has forced deep spending cuts and set off mass protests. Prime Minister Pedro Passos Coelho said that Portugal had built up sufficient financial reserves to end the program on schedule, without requesting any additional line of credit from its European counterparts. (http://r.reuters.com/juq98v)
* Ukraine has been pushing hard to start reverse-flow deliveries of gas from Europe via Slovakia to Ukraine, thus blunting repeated Russian threats to turn off the gas tap. An agreement signed last week between Slovak and Ukrainian pipeline operators opened the way for modest reverse-flow deliveries of gas from Europe, where prices are much lower than those demanded by Gazprom for its direct sales to Ukraine. (http://r.reuters.com/kuq98v)
Canada
THE GLOBE AND MAIL
* The Prime Minister's Office is rejecting a call from Canada's legal community to clarify its statement about the Supreme Court. The unprecedented dispute comes as the country's top court prepares to hear challenges to laws that were passed by the Conservative government. (http://r.reuters.com/gur98v)
* National Defence has done an about-face and revoked an offer that would have allowed a soldier with post-traumatic stress disorder the right to an extended release from the military. Kristian Wolowidnyk's story made headlines across the country in November when he tried to take his own life after the army put him on the fast track for dismissal. (http://r.reuters.com/kur98v)
Reports in the business section:
* The British Columbia government and Malaysia's state-owned Petronas Gas have reached a deal designed to provide lift-off to a liquefied natural gas project. Both sides agreed on Monday to assign officials to prepare terms of reference by June 30 and then have a project development agreement in place by Nov. 30. (http://r.reuters.com/rur98v)
NATIONAL POST
* A new federal bill that will allow Internet and cellphone providers to hand over personal data without a warrant has privacy advocates concerned about how many officials will have access to that information. The officers obtaining that data can be anything from tax agents to sheriffs, reeves, justices of the peace, Canadian Security Intelligence Service agents, and even mayors. (http://r.reuters.com/per98v)
* International Relief Fund for the Afflicted and Needy, an Ontario-based Muslim relief group branded a terrorist organization by the federal government, has decided to appeal the decision. A non-profit group that works mostly in Muslim regions, IRFAN-Canada had been under scrutiny by Canada Revenue Agency auditors for a decade. (http://r.reuters.com/ter98v)
FINANCIAL POST
* While a surprisingly big surge in the U.S. employment in April reflects growing confidence in the country's recovery, the outlook for Canada's job market - and the economy as a whole - is still far from certain. Statistics Canada on Friday will likely report between 16,000 to 20,000 positions were created in April - with the jobless rate staying at 6.9 percent. (http://r.reuters.com/fur98v)
China
SHANGHAI SECURITIES NEWS
- Combined first-quarter profit of 2,534 listed companies was up 8.08 percent from the same quarter last year, data compiled by the newspaper showed. The figure was down from 10.7 percent in the first quarter of last year. Meanwhile, revenue was down 13.44 percent in the first three months of the year compared with the same period last year.
- The China Insurance Regulatory Commission has published draft rules that would classify insurers' assets into five categories based on risk levels.
- China's eastern province of Jiangsu is discussing whether the current business model of market making in precious metals should be banned.
SECURITIES TIMES
- Total assets of China's fund industry exceeded 6 trillion yuan ($958.57 billion) in the first quarter.
CHINA DAILY
- Anti-narcotics officers uncovered 1,491 transnational drug smuggling cases last year, an increase of 14.5 percent from the previous year, with most suspects caught in the southern provinces of Guangdong and Yunnan, the police ministry said.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Markit services PMI for April at 9:45--consensus 54.5
ISM non-manufacturing index for April at 10:00--consensus 54.2
ANALYST RESEARCH
Upgrades
ARIAD (ARIA) upgraded to Buy from Hold at Jefferies
Apollo Investment (AINV) upgraded to Overweight from Equalweight at Barclays
BB&T (BBT) upgraded to Outperform from Neutral at Credit Suisse
Bill Barrett (BBG) upgraded to Buy from Hold at Stifel
Chipotle (CMG) upgraded to Outperform from Market Perform at Raymond James
Covance (CVD) upgraded to Overweight from Neutral at Piper Jaffray
Cracker Barrel (CBRL) upgraded to Market Perform from Underperform at Raymond James
Hi-Crush Partners (HCLP) upgraded to Outperform from Sector Perform at RBC Capital
Informatica (INFA) upgraded to Neutral from Underperform at BofA/Merrill
L-3 Communications (LLL) upgraded to Overweight from Neutral at JPMorgan
Lennox (LII) upgraded to Overweight from Neutral at JPMorgan
Och-Ziff Capital (OZM) upgraded to Outperform from Market Perform at Keefe Bruyette
PerkinElmer (PKI) upgraded to Buy from Neutral at Janney Capital
Salesforce.com (CRM) upgraded to Buy from Hold at Deutsche Bank
Santander Consumer (SC) upgraded to Buy from Neutral at BofA/Merrill
Swift Energy (SFY) upgraded to Hold from Buy at Canaccord
Virtus Investment Partners (VRTS) upgraded to Outperform at Raymond James
Watts Water (WTS) upgraded to Buy from Neutral at Sterne Agee
Downgrades
ACI Worldwide (ACIW) downgraded to Underperform from Market Perform at Raymond James
GAP Airports (PAC) downgraded to Underweight from Neutral at JPMorgan
Helmerich & Payne (HP) downgraded to Sell from Neutral at Guggenheim
Host Hotels (HST) downgraded to Neutral from Buy at SunTrust
Hyatt Hotels (H) downgraded to Neutral from Buy at MKM Partners
Kodiak Oil & Gas (KOG) downgraded to Neutral from Buy at SunTrust
Nabors Industries (NBR) downgraded to Sell from Neutral at Guggenheim
OMA Airports (OMAB) downgraded to Neutral from Overweight at JPMorgan
Oaktree Capital (OAK) downgraded to Market Perform from Outperform at Keefe Bruyette
Redwood Trust (RWT) downgraded to Market Perform from Outperform at JMP Securities
Southern Company (SO) downgraded to Sell from Neutral at UBS
WESCO (WCC) downgraded to Neutral from Overweight at JPMorgan
Initiations
Adamas Pharmaceuticals (ADMS) initiated with a Buy at Needham
Adamas Pharmaceuticals (ADMS) initiated with an Outperform at Credit Suisse
Adamas Pharmaceuticals (ADMS) initiated with an Overweight at Piper Jaffray
FireEye (FEYE) initiated with a Hold at Deutsche Bank
King Digital (KING) initiated with a Buy at BofA/Merrill
King Digital (KING) initiated with a Buy at Deutsche Bank
King Digital (KING) initiated with a Neutral at Piper Jaffray
King Digital (KING) initiated with an Outperform at BMO Capital
King Digital (KING) initiated with an Outperform at Pacific Crest
King Digital (KING) initiated with an Outperform at RBC Capital
King Digital (KING) initiated with an Overweight at Barclays
King Digital (KING) initiated with an Overweight at JPMorgan
La Quinta (LQ) initiated with a Buy at Stifel
La Quinta (LQ) initiated with a Neutral at BofA/Merrill
La Quinta (LQ) initiated with a Neutral at Goldman
La Quinta (LQ) initiated with a Neutral at JPMorgan
La Quinta (LQ) initiated with an Outperform at Credit Suisse
La Quinta (LQ) initiated with an Outperform at JMP Securities
La Quinta (LQ) initiated with an Outperform at Wells Fargo
La Quinta (LQ) initiated with an Overweight at Evercore
La Quinta (LQ) initiated with an Overweight at Morgan Stanley
pSivida (PSDV) initiated with a Buy at MLV & Co.
COMPANY NEWS
Citigroup (C) disclosed that prosecutors probing Mexico subsidiary
BE Aerospace (BEAV) said exploring strategic alternatives to enhance shareholder value
PayPal (EBAY) said director of global strategy Rakesh Agrawal no longer with company
GM (GM) recalled certain 2014 SUVs for faulty fuel gauge
FedEx (FDX) announced pricing changes for FedEx Freight and FedEx Ground. FedEx Freight will increase its published fuel surcharge indices by 3 percentage points, effective June 2. FedEx Ground will apply dimensional weight pricing to all shipments, effective January 1, 2015
JPMorgan (JPM) forecast Q2 markets revenue down 20% from prior year
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Westlake Chemical (WLK), Emerge Energy (EMES), Exar (EXAR)
Companies that missed consensus earnings expectations include:
Auxilium (AUXL), Tesco (TESO), FreightCar America (RAIL), ArthroCare (ARTC), Volcano (VOLC)
Companies that matched consensus earnings expectations include:
Natural Gas Services (NGS)
NEWSPAPERS/WEBSITES
Barclays' (BCS) head of M&A expected to quit bank, FT reports
Apple (AAPL) not expected to unveil iWatch, new Apple TV at WWDC, Re/code reports
Siemens (SI) close to selling logistics and airports solutions unit, Bloomberg says
Coca-Cola (KO) removes controversial ingredient from Powerade, AP reports
Microsoft (MSFT) Asia-Pacific head sees large potential for Asia expansion, WSJ says
Court denies Loeb's efforts to remove Sotheby's (BID) poison pill, Reuters reports
Comcast (CMCSA) nearing deal to stream Electronic Arts (EA) games to TVs, Reuters says
Sony (SNE) and Samsung (SSNLF) launching in-store shops at Best Buy (BBY) stores, LA Times reports
Hertz (HTZ) spin-off could drive shares 25% higher, Barron's says
Murphy Oil (MUR) looks undervalued, Barron's reports
Twitter (TWTR) still looks over-priced, Barron's says
Harsco (HSC) could rise 20%, Barron's says
SunEdison's (SUNE) YieldCo plan could bring scrutiny over taxes, Barron's reports
Wynn Resorts (WYNN) shares could rise 25%, Barron's reports
SYNDICATE
Iridium (IRDM) to sell 7.7M shares at $6.50 to certain Baron's funds
LeMaitre (LMAT) files to sell 1.8M shares of common stock for holders
Mid-Con Energy (MCEP) files to sell 3.19M common units
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
JNUG Direxion Daily Jr... 21.00 8.14%
RTK Rentech Inc. 2.45 7.46%
CDTI Clean Diesel Tech... 3.02 5.96%
BEAV B/e Aerospace Inc... 94.15 5.83%
ECYT Endocyte Inc. 6.95 4.98%
ELLI Ellie Mae 26.70 4.71%
NUGT Direxion Daily Go... 38.95 4.48%
ANV Allied Nevada Gol... 3.50 3.86%
INVN Invensense Inc 20.38 3.82%
ARIA Ariad Pharmaceuti... 7.50 3.73%
DGP DB Gold Double Lo... 29.95 3.59%
HL Hecla Mining Co. ... 3.22 3.54%
NBG National Bank of ... 4.05 3.32%
KING King Digital Ente... 18.00 2.51%
GDXJ Market Vectors Ju... 37.51 2.43%
TZA Direxion Daily Sm... 17.50 2.34%
GWPH GW Pharmaceutical... 72.83 1.90%
ABX Barrick Gold Corp... 17.73 1.90%
MACK Merrimack Pharmac... 6.55 1.87%
MZOR Mazor Robotics Lt... 18.25 1.56%
Top Losing Stocks
Price %Change
JDST Direxion Daily Jr... 21.00 -6.75%
AUXL Auxilium Pharmace... 20.25 -5.73%
AFSI Amtrust Financial... 40.85 -5.00%
SPWR Sunpower Corporat... 32.33 -4.86%
RBS Royal Bank of Sco... 10.67 -4.82%
VRNG Vringo Inc. 3.96 -3.65%
SINA Sina Corporation ... 46.48 -3.47%
AIXG Aixtron SE 14.96 -3.05%
JPM JP Morgan Chase 54.00 -2.84%
CS Credit Suisse Gro... 30.99 -2.70%
WB Weibo Corp Adr (s... 19.53 -2.50%
GME Gamestop Corp. Cl... 39.03 -2.23%
AZN Astrazeneca Plc A... 79.25 -2.18%
ING Ing Groep N.v. Ad... 13.94 -2.18%
ECOM Channeladvisor Co... 27.00 -2.17%
TI Telecom Italia S.... 12.65 -2.17%
TNA Direxion Daily Sm... 67.50 -2.16%
TWTR Twitter Inc 38.19 -2.13%
DB Deutsche Bank AG ... 42.94 -1.96%
SAP Sap AG Adr (spons... 78.58 -1.79%
Read more at http://thestockmarketwatch.com/markets/pre-market/#7MLgdoIt49O8Jq3q.99
data:
Gallup US Consumer Spending Measure
[Bullet8:30 AM ET
PMI Services Index
[Report][Bullet9:45 AM ET
ISM Non-Mfg Index
[Report][djStar]10:00 AM ET
4-Week Bill Announcement
[Bullet11:00 AM ET
3-Month Bill Auction
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6-Month Bill Auction
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TD Ameritrade IMX
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Futures -59
good morning
now I'm ready for that!
and drink BEER!
frontrunning:
Ukraine attacks rebel city, helicopter shot down (Reuters)
Euro Unemployment Holds Near Record Amid Factory Gains (BBG)
Yellen’s Fed Resigned to Diminished Growth Expectations (BBG)
Junket Figure's Disappearance Shakes Macau's Gambling Industry (WSJ)
China tried to undermine economic report showing its ascendancy (WSJ)
Liquidity Trap Hitting AAA Bonds Has ATP CEO Sounding Alarm (BBG)
AstraZeneca Snubs Pfizer Approach That U.K. Won’t Block (BBG)
Missing Jet Recordings May Have Been 'Edited' (NBC)
RBS turns corner as first-quarter profit trebles (Reuters)
Japan household spending hits four-decade high, wages key to outlook (RTRS) while Real Incomes Drop 3.3% in March, 6th straight decline
First Million-Dollar Drug Near After Prices Double on Dozens of Treatments (BBG)
How Canada’s Flirtation with a China Oil Market Soured (BBG)
Retirement Investors Flock Back to Stocks (WSJ)
SEC probing hedge funds' bets on Herbalife (Reuters)
White House study backs data-gathering (FT)
Overnight Media Digest
WSJ
* German Chancellor Angela Merkel will be carrying a clear message from Germany's business lobby when she meets President Barack Obama at the White House to discuss the Ukraine crisis: No more sanctions on Russia. (r.reuters.com/qaj98v)
* Pfizer Inc and AstraZeneca have resumed talks about a trans-Atlantic merger of the two drug giants, after Pfizer sweetened the terms of an earlier takeover offer for its British rival. (r.reuters.com/jaj98v)
* Retirement investors are putting more money into stocks than they have since markets were slammed by the financial crisis six years ago. Meanwhile, large investors such as pension funds, banks and insurance companies are showing less appetite for risk. Demand for shares of newly public companies has weakened, and utilities, considered safe when economic growth isn't robust, are the best-performing group this year. (r.reuters.com/vej98v)
* As Apple Inc and Samsung Electronics Co squabble in court over who copied whose phone features, the companies' grip over the smartphone industry is slipping. The two companies account for nearly all smartphone hardware profits. But they are losing market share to Chinese rivals with lower-priced phones, particularly in developing nations. (r.reuters.com/hej98v)
* Mark Fields is set to take over as chief executive of Ford Motor Co on July 1, and he'll face very different set of challenges than those the current boss, Alan Mulally, has tackled over the last eight years. (r.reuters.com/xej98v)
* The New York Stock Exchange agreed to settle allegations it broke rules designed to protect investors, the second such pact in less than two years as the top U.S. securities regulator tries to ratchet up the policing of stock markets. The Big Board, along with affiliated exchanges and a broker, agreed to pay $4.5 million to settle civil charges by the Securities and Exchange Commission that they "repeatedly" broke their own rules or failed to submit rules governing certain activities to the regulator. (r.reuters.com/jej98v)
* J. Crew is developing a new store format aimed at budget-conscious shoppers underscoring the difficulty apparel retailers have had in boosting sales without help from discounts. The new format is called J. Crew Mercantile and will feature merchandise and prices closer to what shoppers would find at J. Crew Factory, the retailer's outlet stores, than what is available in its full-line stores. (r.reuters.com/rej98v)
* Exxon Mobil Corp is pushing ahead with its plans to drill in Russia's Arctic seas - its biggest opportunity to discover untapped deposits of oil and gas - even though deteriorating relations between Moscow and Washington have increased the risks. (r.reuters.com/tej98v)
FT
U.S. drugmaker Pfizer Inc is planning to sweeten its 60 billion pound ($101.37 billion) takeover bid for AstraZeneca Plc hoping to increase pressure on its UK rival to enter talks to create the world's biggest pharmaceuticals company.
The U.S. government has said business leaders who attend the St. Petersburg International Economic Forum in May are sending "an inappropriate message, given Russia's behaviour" in Ukraine.
The two big U.S. credit card companies, Visa and MasterCard, have both warned about the impact of proposed legislation in Russia - a response to U.S. sanctions - that will increase the control of the Russian authorities over its payment systems.
Rolls-Royce Chief Executive John Rishton said he was "reasonably optimistic" about the sale of the company's energy business to Siemens going through, in a deal expected to raise at least 900 million pounds.
Britain's financial watchdog, the Financial Conduct Authority, has banned a former co-worker of UBS rogue trader Kweku Adoboli from working in the financial services industry.
NYT
* Seattle Mayor Ed Murray presented on Thursday what he described as an imperfect but workable plan to increase the city's minimum wage to $15 an hour, more than twice the federal minimum wage and one of the highest anywhere in the nation, through a series of complex and phased-in stages. (http://r.reuters.com/qej98v)
* The White House, hoping to move the national debate over privacy beyond the National Security Agency's surveillance activities to the practices of companies like Google and Facebook, released a long-anticipated report on Thursday that recommends developing government limits on how private companies make use of the torrent of information they gather from their customers online. (http://r.reuters.com/sej98v)
* Ares Management LP, a private equity and debt investing firm, is expected to have its debut on the New York Stock Exchange on Friday, becoming the seventh major private equity firm to tap the public markets. The initial public offering was priced conservatively Thursday evening, raising $345.7 million for Ares and a large shareholder, the Abu Dhabi Investment Authority. The shares priced at $19 each, below an expected range of $21 to $23, according to a person briefed on the matter. (http://r.reuters.com/zej98v)
* Merck & Co Inc, the big health care company, is close to a deal to sell its consumer unit to Bayer AG for about $14 billion, a person briefed on the matter said on Thursday. (http://r.reuters.com/buj98v)
* Three federal agencies and one billionaire hedge fund manager have placed Herbalife Ltd under the microscope, scrutinizing whether the diet-supplements company is a pyramid scheme. But Herbalife is not the only one under investigation. Some federal authorities are pursuing other inquiries that might expand the regulatory gaze from Herbalife to the traders who traffic in the company's stock. (http://r.reuters.com/cuj98v)
* The auction site eBay Inc has settled a federal antitrust case that accused it of having a secret deal with Intuit Inc not to try to hire each other's employees. (http://r.reuters.com/duj98v)
Canada
THE GLOBE AND MAIL
* Ontario's Liberal government is ramping up the province's deficit with a big-spending budget designed to either forestall an election or pay off at the polls in the event of a snap vote. (http://r.reuters.com/hak98v)
* Toronto Mayor Rob Ford, on a leave to seek professional treatment for his addiction issues, is facing a growing chorus of calls to resign from business leaders, political rivals and his council colleagues. (http://r.reuters.com/jak98v)
Reports in the business section:
* SNC-Lavalin Group Inc is selling its Alberta electricity transmission company AltaLink for C$3.2 billion to Warren Buffett's Berkshire Hathaway Inc, as it moves away from infrastructure investments and puts its resources into engineering and construction. (http://r.reuters.com/wak98v)
NATIONAL POST
* The Liberal minority government of Ontario has delivered a budget packed with new spending and tax hikes for high-income earners while allowing this year's deficit to balloon to C$12 billion, C$2 billion higher than predicted. (http://r.reuters.com/cek98v)
* Liberal Party of Canada Leader Justin Trudeau's credibility has again come under fire from a member of his own party, with new allegations that he is stacking the deck to help star candidates win local nomination battles. (http://r.reuters.com/fek98v)
FINANCIAL POST
* Canadian auto sales rose to record levels in April with Ford Motor Co narrowly outselling its rival Chrysler Canada Inc last month. Overall auto sales increased 4 percent year over year in Canada last month to 178,703 units, up 2 percent from the previous record set for April in 2008, according to figures collected by DesRosiers Automotive Consultants. (http://r.reuters.com/gek98v)
* Canadian engineering giant SNC-Lavalin Group Inc is selling its entire stake in Alberta electricity transmission company Altalink for about C$3.2 billion to Warren Buffett's Berkshire Hathaway Inc in a deal priced far beyond what the market had been expecting. (http://r.reuters.com/hek98v)
Britain
The Telegraph
PFIZER MULLS HIGHER BID FOR ASTRAZENECA
Pfizer Inc is mulling a bid in excess of 63 billion pounds ($106.44 billion) for its smaller British rival AstraZeneca Plc, according to reports. (http://link.reuters.com/ceh98v)
SCOTTISH 'YES' VOTE COULD IMPROVE UK CREDIT, SAYS MOODY'S
Britain could end up with a better credit rating if Scotland votes for independence, with a "yes" providing the catalyst for an upgrade of the remaining UK's debt, according to Moody's. (http://link.reuters.com/beh98v)
'DANGEROUS' TO IGNORE HOUSE PRICE BOOM, WARNS BOE DEPUTY
Surging house prices pose the single biggest threat to UK financial stability, the deputy governor of the Bank of England has warned. (http://link.reuters.com/deh98v)
The Guardian
ELECTORAL COMMISSION VOIDS CBI LISTING AS NO CAMPAIGNER IN SCOTLAND VOTE
The Electoral Commission has nullified the Confederation of British Industry's controversial registration as a no campaigner in the Scottish independence referendum, after ruling that the application was made by the wrong CBI official. (http://link.reuters.com/hah98v)
FAT FACE AND PIZZAEXPRESS UP FOR AUCTION AS FIRMS TEST BUYERS' APPETITES
Fat Face and PizzaExpress are the latest consumer brands to go under the hammer as private equity firms look to cash in on rising consumer confidence and buoyant financial markets. (http://link.reuters.com/feh98v)
The Times
ROLLS CONFIDENT OF RETURN TO GROWTH
Rolls-Royce insisted yesterday that it would not be knocked off course despite a surging pound and a 30 million pound charge to fix a product defect. (http://link.reuters.com/heh98v)
HENDERSON INVESTORS IN REVOLT OVER CHIEF'S PAY
This year's bout of shareholder revolts over pay appeared to escalate yesterday after Henderson Group was given a bruising in the wake of a 4.5 million pound annual payout for Andrew Formica, its chief executive. (http://link.reuters.com/jeh98v)
The Independent
POUND LEAPS AFTER SURGE IN MANUFACTURING OUTPUT
The latest stunning evidence of a UK manufacturing revival sent the pound surging to a five-year high yesterday as the City upped its bets on early interest rate rises. (http://link.reuters.com/meh98v)
HERITAGE OIL FOUNDER SELLS TO QATARI SHEIKH IN 1 BLN STG DEAL
The former prime minister of Qatar is buying Heritage Oil in a deal that values the explorer founded by the former mercenary Tony Buckingham at nearly 1 billion pounds. (http://link.reuters.com/peh98v)
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Change in nonfarm payrolls for April at 8:30--consensus 215K
Unemployment rate for April at 8:30--consensus 6.6%
New York ISM for April at 9:45--consensus 54.0
Factory orders for March at 10:00--consensus up 1.4%
ANALYST RESEARCH
Upgrades
AmTrust Financial (AFSI) upgraded to Buy from Neutral at Compass Point
Aruba Networks (ARUN) upgraded to Outperform from Perform at Oppenheimer
Avanir (AVNR) upgraded to Buy from Neutral at Mizuho
Beazer Homes (BZH) upgraded to Buy from Neutral at Compass Point
Constant Contact (CTCT) upgraded to Outperform from Neutral at RW Baird
Dynegy (DYN) upgraded to Strong Buy from Buy at ISI Group
EP Energy (EPE) upgraded to Buy from Neutral at Mizuho
Endo (ENDP) upgraded to Overweight from Equal Weight at Morgan Stanley
Evercore Partners (EVR) upgraded to Buy from Neutral at UBS
General Dynamics (GD) upgraded to Neutral from Sell at Goldman
InvenSense (INVN) upgraded to Buy from Hold at Needham
Kennametal (KMT) upgraded to Outperform from Market Perform at Wells Fargo
LinkedIn (LNKD) upgraded to Buy from Neutral at UBS
Masco (MAS) upgraded to Neutral from Sell at Goldman
Masco (MAS) upgraded to Strong Buy from Market Perform at Raymond James
Maxwell (MXWL) upgraded to Buy from Neutral at Roth Capital
Mercer (MERC) upgraded to Outperform from Market Perform at Raymond James
Mohawk (MHK) upgraded to Outperform from Market Perform at Raymond James
Novartis (NVS) upgraded to Buy from Hold at Jefferies
OpenTable (OPEN) upgraded to Buy from Neutral at BofA/Merrill
Oracle (ORCL) upgraded to Buy from Hold at Societe Generale
Piedmont Office Realty (PDM) upgraded to Hold from Sell at Stifel
Texas Instruments (TXN) upgraded to Neutral from Reduce at Nomura
United Microelectronics (UMC) upgraded to Neutral from Underperform at BofA/Merrill
Wynn Resorts (WYNN) upgraded to Buy from Neutral at Sterne Agee
Downgrades
AXIS Capital (AXS) downgraded to Underperform from Market Perform at BMO Capital
Avon Products (AVP) downgraded to Neutral from Buy at BTIG
BNP Paribas (BNPQY) downgraded to Neutral from Outperform at Credit Suisse
Broadcom (BRCM) downgraded to Neutral from Buy at Nomura
Cabot Oil & Gas (COG) downgraded to Market Perform from Outperform at Bernstein
DCT Industrial (DCT) downgraded to Neutral from Buy at ISI Group
DirecTV (DTV) downgraded to Neutral from Buy at Citigroup
Oclaro (OCLR) downgraded to Neutral from Buy at B. Riley
PSEG (PEG) downgraded to Sector Perform from Outperform at RBC Capital
Procera Networks (PKT) downgraded to Sector Perform from Outperform at Pacific Crest
United Microelectronics (UMC) downgraded to Neutral from Buy at UBS
Vocera (VCRA) downgraded to Neutral from Overweight at JPMorgan
Wisconsin Energy (WEC) downgraded to Neutral from Buy at ISI Group
Initiations
GAIN Capital (GCAP) initiated with an Outperform at Keefe Bruyette
Gastar Exploration (GST) initiated with a Buy at Wunderlich
Gran Tierra (GTE) initiated with a Neutral at Goldman
Navient (NAVI) initiated with an Equalweight at Barclays
Navient (NAVI) initiated with an Outperform at Keefe Bruyette
COMPANY NEWS
Pfizer (PFE) confirmed delivery of increased offer of $84.47 per share to AstraZeneca (AZN)
AstraZeneca (AZN) rejected proposal from Pfizer (PFE) as 'substantially' undervalued
LinkedIn (LNKD) guided to FY14 revenues that were lower than analysts' current forecasts. The company said it has no plans for a significant increase in China investment
Berry Plastics (BERY) CEO said business will improve in coming quarters
Verizon (VZ) said in a regulatory filing that it believes it would be "perverse and unjust" for the FCC to adopt rules that would "subsidize" companies like T-Mobile (TMUS) and Sprint (S) by allowing them to bid on airwaves set aside for smaller firms
InterContinental Hotels (IHG) announced a $750M special dividend
Royal Bank of Scotland (RBS) said on track to achieve capital targets
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Newell Rubbermaid (NWL), Hill-Rom (HRC), Alliant Energy (LNT), Dresser-Rand (DRC), Alon USA Energy (ALJ), Alon USA Partners (ALDW), XL Group (XL), MasTec (MTZ), Territorial Bancorp (TBNK), Black Hills (BKH), OpenTable (OPEN), Scansource (SCSC), Sequenom (SQNM), Northeast Utilities (NU), QLogic (QLGC), eHealth (EHTH), Chegg (CHGG), HCI Group (HCI), Bottomline Technologies (EPAY), Autobytel (ABTL), TeleCommunication Systems (TSYS), Mitek Systems (MITK), BioMarin (BMRN), Seattle Genetics (SGEN), Westport (WPRT), Ellie Mae (ELLI), Impax (IPXL), American Vanguard (AVD), Universal Electronics (UEIC), Audience (ADNC), Nutrisystem (NTRI), Tempur Sealy (TPX), Constant Contact (CTCT), Southwestern Energy (SWN), Akamai (AKAM), ON Semiconductor (ONNN), GigOptix (GIG), BJ's Restaurants (BJRI), PMC-Sierra (PMCS), MICROS (MCRS), InterMune (ITMN), Federated National (FNHC), Web.com (WWWW), Maxwell (MXWL), DigitalGlobe (DGI), Addus HomeCare (ADUS), SBA Communications (SBAC), Outerwall (OUTR), Outerwall (OUTR), Vertex (VRTX), Skullcandy (SKUL), Omnicell (OMCL), Western Union (WU), A10 Networks (ATEN), Wynn Resorts (WYNN), LinkedIn (LNKD), FleetCor (FLT), Affymetrix (AFFX), Expedia (EXPE)
Companies that missed consensus earnings expectations include:
Northwest Natural Gas (NWN), Exelis (XLS), Berry Plastics (BERY), Cheniere Energy (LNG), Integrys Energy (TEG), Eldorado Gold (EGO), Oil States (OIS), Frank's International (FI), Sierra Wireless (SWIR), Golden Minerals (AUMN), Southside Bancshares (SBSI), Multi-Fineline (MFLX), Bill Barrett (BBG), Manitowoc (MTW), Idenix (IDIX), Computer Programs (CPSI), LRR Energy (LRE), Medley Capital (MCC), Exelixis (EXEL), XPO Logistics (XPO), InvenSense (INVN), Insight Enterprises (NSIT), KEYW (KEYW), Entropic (ENTR), Kodiak Oil & Gas (KOG), Fluor (FLR), Actuate (BIRT), Oncothyreon (ONTY), Standard Pacific (SPF), ServiceSource (SREV), Rubicon (RBCN), RadiSys (RSYS), Procera Networks (PKT), DaVita (DVA), Bally Technologies (BYI), Cornerstone OnDemand (CSOD), DexCom (DXCM), FBL Financial (FFG), FBL Financial (FFG), Einstein Noah (BAGL)
Companies that matched consensus earnings expectations include:
Cheniere Energy Partners (CQH), Immersion (IMMR), Select Medical (SEM), Geron (GERN), SciQuest (SQI), Natural Grocers (NGVC), The Inventure Group (SNAK), First NBC Bank (NBCB), Callidus Software (CALD), Cerus (CERS)
NEWSPAPERS/WEBSITES
U.S. probing Herbalife (HLF) traders, NY Times says
DirecTV (DTV) likely open to a sale, WSJ reports (T)
Regulators against Sprint (S)-T-Mobile (TMUS) deal, sources say, NY Post reports
General Motors (GM) recalls over 50,000 Cadillac SRX SUVs, Detroit Free Press reports
Under Armour (UA) suits part of U.S. speedskating issues in Sochi, WSJ says
New York AG eyeing exchanges in high frequency probe (ICE, NDAQ), Reuters reports
SYNDICATE
Aldexa (ALDX) 1.5M share IPO priced at $8.00
Ares Capital (ARES) 11.4M share IPO priced at $19.00
Chimerix (CMRX) files $200M mixed securities shelf
EQT Midstream Partners (EQM) 10.75M share Secondary priced at $75.75
HD Supply (HDS) 30M share Secondary priced at $26.00
Immunomedics (IMMU) $30M share Spot Secondary; price range $3.35-$3.45
Investors Bancorp (ISBC) 219.581M stock offering priced at $10.00
Media General (MEG) 4.21M share Secondary priced at $15.50
Papa Murphy's (FRSH) 5.833M share IPO priced at $11.00
Tetraphase (TTPH) files $125M mixed securities shelf
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
RXII Rxi Pharmaceutica... 4.50 41.96%
NTRI Nutrisystem Inc 17.30 11.54%
IHG Intercontinental ... 37.33 8.80%
RBS Royal Bank of Sco... 11.29 8.66%
WPRT Westport Innovati... 13.75 6.34%
CTRL Control4 Corp 18.95 5.69%
CYTR Cytrx Corporation... 3.75 5.63%
AEM Agnico Eagle Mine... 31.25 5.61%
QUIK Quicklogic Corpor... 3.98 5.57%
DXCM Dexcom Inc. 34.40 5.04%
WYNN Wynn Resorts Ltd ... 215.00 4.05%
AVNR Avanir Pharmaceut... 4.83 3.87%
AKAM Akamai Technologi... 56.50 3.61%
BTX Biotime Inc. 2.60 3.17%
QLGC Qlogic Corporatio... 11.09 3.16%
NVDA Nvidia Corp 19.10 2.85%
TS Tenaris S.a. Ads ... 45.04 2.76%
BBRY Research in Motio... 8.19 2.76%
EL Estee Lauder Cos.... 74.00 2.51%
ORAN Orange 16.56 2.29%
Top Losing Stocks
Price %Change
BIRT Actuate Corporati... 4.44 -19.27%
IMMU Immunomedics Inc.... 3.46 -16.43%
INVN Invensense Inc 17.90 -13.06%
BCOR Blucora Inc. 17.75 -8.65%
KOG Kodiak Oil & Gas ... 11.50 -7.78%
CBM Cambrex Corp. 19.31 -6.62%
MTW Manitowoc Co. 30.65 -5.05%
BAP Credicorp Ltd. 142.69 -5.01%
PKT Procera Networks ... 8.99 -4.77%
RNG Ringcentral 15.58 -3.95%
TRIP Tripadvisor Inc. ... 81.17 -2.79%
EXPE Expedia Inc 72.00 -2.53%
MEG Media General Inc... 16.26 -2.34%
ISR Isoray 2.08 -1.89%
OPEN Opentable Inc. 67.00 -1.86%
VE Veolia Environnem... 18.42 -1.76%
LNKD Linkedin 158.60 -1.63%
MNST Monster Beverage ... 65.93 -1.57%
EJ E-house China Hol... 8.78 -1.35%
BLDP Ballard Power Sys... 3.69 -1.34%
Read more at http://thestockmarketwatch.com/markets/pre-market/#ObIiDolUGEWRcxBw.99
data:
Employment Situation
[Report][Star]8:30 AM ET
Factory Orders
[Report][djStar]10:00 AM ET
omg.....she's back!!!!
seeing you back is a welcome sight my friend!
Futures +5
good morning
hi!.....yes....let's hope so!!!
frontrunning:
Two-Thirds of Insurance Exchange Enrollees Paid Premiums (WSJ)
Panic: Criminal Charges Against Banks Risk Sparking Crisis (BBG)
Did the junk bubble pop: Junk Loans Pulled as Investors Say No After Fed Raises Concerns (BBG)
CME mulls price fluctuation limits for gold, silver futures (Reuters)
AT&T Has Approached DirecTV About Possible Acquisition (WSJ)
NBA sets wheels turning for Clippers sale; Oprah in wings (Reuters)
One way to fix prison overcrowding: Florida Jail Hit by Deadly Blast (WSJ)
New Boeing jets hold key to more than half of future sales (Reuters)
Sony slashes profit estimate by 70% (Guardian)
Buffett Pressures Coca-Cola Over Executive Pay (WSJ)
Two attackers among three killed in China bombing (Reuters)
Ukraine's restive east slipping from government's grasp (Reuters)
Hess, Mercuria Units Added to Brent Crude Price-Fixing Lawsuit (BBG)
Overnight Media Digest
WSJ
* AT&T has approached DirecTV about a possible acquisition of the satellite-TV firm, the latest sign of a possible shake-up in the television industry. A deal would likely be worth at least $40 billion, DirecTV's current market capitalization, a fraction of AT&T's $185 billion market capitalization. (http://r.reuters.com/qad98v)
* The Federal Reserve said Wednesday it would reduce its bond purchases to $45 billion a month and it was starting to see a growth pickup in recent weeks after a harsh winter that hit the U.S. economy. (http://r.reuters.com/ded98v)
* The Coca-Cola Co likely will revise its executive-compensation plan before it goes into effect next year, bowing to pressure from billionaire investor Warren Buffet. The potential changes come as a surprise after voting shareholders approved Coke's plan last week-and Buffett declined to vote against it. (http://r.reuters.com/fed98v)
* U.S. prosecutors are threatening to use what bank executives consider a nuclear option by filing criminal charges against two large foreign banks. Officials led by the Justice Department, though, are still trying to find a way to defuse the most catastrophic possible outcome of filing criminal charges: driving the banks out of business entirely. (http://r.reuters.com/ged98v)
* Alstom Chairman and Chief Executive Patrick Kron defied France's government by plunging ahead with plans to sell the country's industrial jewels to U.S.-based General Electric . France's economy minister portrayed the move as an act of national betrayal. (http://r.reuters.com/ped98v)
* The Federal Aviation Administration granted Boeing Co's request that the new 777 jetliner to be approved without a lengthy full recertification. (http://r.reuters.com/ked98v)
* Anheuser-Busch InBev NV's union workers Wednesday ratified a five-year contract that calls for wage increases and no plant closings, officials with the International Brotherhood of Teamsters said in a statement posted on the union's website. The contract, which union officials said would add some $2 billion in wages and benefits, is retroactive to March 1. It was the first contract Anheuser-Busch negotiated since its 2008 hostile-bid acquisition by InBev NV. (http://r.reuters.com/hed98v)
* Online-storage startup Box is delaying its plans for an initial public offering after a sudden weakening in demand for technology stocks. Box's March 24 IPO filing made it eligible to list shares as early as April, but people close to the company said the offering may not happen until June, and no timing has been set. (http://r.reuters.com/ned98v)
FT
GlaxoSmithKline's Chief Executive Andrew Witty all but ruled out a white knight bid for rival drugmaker AstraZeneca on Wednesday by reiterating scepticism on big takeover deals in the sector.
Britain's Reckitt Benckiser, which makes Durex condoms and Nurofen, has ended talks to buy Merck's consumer healthcare unit, paving the way for a rival to land the business behind Coppertone sun tan lotion.
Media baron Richard Desmond is planning to sell British broadcaster Channel 5 for 450 million pounds ($759.85 million) to U.S.-based Viacom, in a move that will see him receive more than four times his initial investment.
Rio Tinto is taking Vale and BSG Resources to court, alleging the rival mining groups were part of a conspiracy to steal its rights to an African iron ore deposit worth billions of dollars.
Microsoft's Xbox One is going to be the first foreign games console to be sold in China, after a 14-year ban on the devices was lifted in January.
NYT
* With the Republican-led filibuster of a Senate proposal to raise the federal minimum wage to $10.10 on Wednesday, Democrats moved swiftly to frame the vote as an example of the gulf that exists between the two parties on matters of economic fairness and upward mobility. (http://r.reuters.com/xad98v)
* Facebook Inc announced on Wednesday that when its 1.3 billion users log in to other websites or mobile apps through their Facebook identities, they will be able to limit what they reveal to the site or app to just their email addresses and public profile information, like name and gender. (http://r.reuters.com/wad98v)
* A federal regulator confirmed on Wednesday that the country's biggest banks committed widespread errors in dealing with homeowners who faced foreclosures at the height of the mortgage crisis, but the findings are unlikely to put to rest questions from lawmakers and others about the extent of the problems. (http://r.reuters.com/zad98v)
* The Federal Reserve continued to retreat from its stimulus campaign on Wednesday, saying it was looking past the economic slowdown during an unusually cold winter because growth already was rebounding. (http://r.reuters.com/bed98v)
* The utility operator Exelon Corp agreed on Wednesday to buy Pepco Holdings Inc for $6.8 billion in a bid to strengthen its operations on the East Coast. Under the terms of the deal, Exelon will pay $27.25 a share in cash, nearly 20 percent above Pepco's closing share price on Tuesday. (http://r.reuters.com/ced98v)
* The Federal Communications Commission's chairman delivered a tough message to cable and broadband executives Wednesday, saying a lack of competition in their industry has hurt consumers. The chairman, Tom Wheeler, said that the FCC intended to address the problem by writing tough new rules to enforce so-called net neutrality, preventing big broadband and cable companies from blocking access to innovative new technologies and start-ups that might emerge as competitors. (http://r.reuters.com/jed98v)
Canada
THE GLOBE AND MAIL
** Two workers were killed and two others injured as gunfire broke out at the Western Forest Products mill in Nanaimo in British Columbia. Royal Canadian Mounted Police said a lone gunman, a 47-year-old former employee who was later arrested at the scene, entered the mill yard carrying a shotgun and started shooting in the parking lot. (http://r.reuters.com/mud98v)
** A second video of Toronto Mayor Rob Ford smoking what has been described as crack cocaine by a self-professed drug dealer was secretly filmed in his sister's basement early Saturday morning. Ford declined to respond to questions about the video, his lawyer said the mayor was going to take a break from election campaigning. (http://r.reuters.com/pud98v)
Reports in the business section:
** Peter Munk stepped down as the chairman of Barrick Gold Corp on Wednesday. He founded the company three decades ago and turned it into the world's biggest gold producer. "You can take, maybe, Munk out of Barrick. You can't take Barrick out of Munk," he said at the company's annual meeting of shareholders. (http://r.reuters.com/rud98v)
NATIONAL POST
** Rumors about Beverley McLachlin, Chief Justice of the Supreme Court of Canada, are being shared with journalists, alleging she lobbied against the appointment of Marc Nadon to the court. It is also being suggested she has told people the Harper government has caused more damage to the court as an institution than any government in Canadian history. (http://r.reuters.com/xud98v)
** Canada is stepping into the increasingly tense showdown between Kyiv and Moscow over the future of eastern Ukraine by taking over leadership of an Organization for Security and Cooperation in Europe's military observer mission in the central European country. (http://r.reuters.com/zud98v)
FINANCIAL POST
** The Canadian federal government is expected to release details soon about the shape and size of a co-operative securities regulator that so far has the support of only Ontario and British Columbia. (http://r.reuters.com/cyd98v)
** The federal government asks Canadian telecom companies for private customer information about 1.2 million times each year, documents released Tuesday by the federal privacy commissioner's office show. (http://r.reuters.com/dyd98v)
Britain
The Telegraph
RECKITT BENCKISER BOWS OUT OF RACE FOR MERCK'S CONSUMER HEALTH ARM
Reckitt Benckiser has said it is no longer in discussions about buying U.S. pharma group Merck's consumer health business, leaving Germany's Bayer as the leading contender for the $14 billion business. (http://link.reuters.com/gyc98v)
ABU DHABI AND SOROS GOT 'GOLDEN TICKET' IN ROYAL MAIL SALE
Abu Dhabi Investment Authority, billionaire investor George Soros and activist hedge fund Third Point were among the 16 investors given preferential treatment in the controversial Royal Mail privatisation. (http://link.reuters.com/zeb98v)
ARGOS TO OPEN STORES IN HOMEBASE
Argos is to open concessions in Homebase stores and will also roll out a collection of small convenience stores in London as the retailer ramps up its fight with Amazon. (http://link.reuters.com/cub98v)
The Guardian
MORRISONS CUTS PRICE OF 1,200 PRODUCTS IN BID TO WIN CUSTOMERS BACK
A supermarket price war will move a step closer on Thursday as struggling Morrisons slashes the price of more than 1,200 products in an attempt to regain customers lost to cheaper discount chains. (http://link.reuters.com/hyc98v)
GLAXOSMITHKLINE KEEPS DISTANCE FROM BID FOR RIVAL ASTRAZENECA
GlaxoSmithKline has distanced itself from a white-knight bid for rival British drugs maker AstraZeneca , which has received an unwanted 60 billion pound ($101.31 billion) takeover approach from Pfizer of the United States. (http://link.reuters.com/qyc98v)
The Times
SERCO ON BRINK AS ANDREW JENNER, FINANCE DIRECTOR, QUITS
The finance director of Serco has left his job in the wake of a disastrous profit warning as the struggling outsourcing group plots an emergency fundraising to shore up its ailing balance sheet. (http://link.reuters.com/nyc98v)
PARIS MAY TAKE STAKE IN ALSTOM TO STOP GE
France's Socialist government hinted it could take a stake in Alstom to thwart General Electric's 12.35 billion euro ($17.12 billion) bid for the French group's power division. (http://link.reuters.com/ryc98v)
CHANNEL 5 SOLD FOR 450 MLN BY DESMOND
Media baron Richard Desmond is set to complete the sale of Channel 5 to U.S. broadcaster Viacom, the owner of MTV, for up to 450 million pounds. (http://link.reuters.com/pyc98v)
PENSION TAX FEAR AFTER EU RULING
Britain's ability to limit damaging decisions made by eurozone countries was called into question as the European Union's highest court threw out a challenge to a financial transactions some fear could wipe billions from UK pension funds. (http://link.reuters.com/myc98v)
STANDARD LIFE SHRUGS OFF THE IMPACT OF PENSION CHANGES
The British government's shock changes to pensions announced in this year's budget, which mean that those retiring do not automatically have to take out an annuity, has resulted in the halving in sales of such investment products at Standard Life , one of the biggest providers. (http://link.reuters.com/kyc98v)
The Independent
SAGA CUSTOMERS SIGN UP AHEAD OF 2.2 BLN STG FLOAT
Saga has revealed that 700,000 customers have registered to take part in its stock market listing as it aims to raise around 550 million pounds. (http://link.reuters.com/tyc98v)
LADBROKES POISED TO CUT JOBS AFTER TAX HIKE
Ladbrokes has warned it will make job cuts and store closures after the British government's surprise tax hike for bookmakers. (http://link.reuters.com/vyc98v)
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled today include:
Jobless claims for week of April 26 at 8:30--consensus 320K
Personal income for March at 8:30--consensus up 0.4% for the month
ISM manufacturing index for April at 10:00--consensus 54.3
Construction spending for March at 10:00--consensus up 0.6% for the month
ANALYST RESEARCH
Upgrades
Abercrombie & Fitch (ANF) upgraded to Buy from Hold at Jefferies
Barclays (BCS) upgraded to Buy from Neutral at UBS
Cavium (CAVM) upgraded to Neutral from Reduce at Nomura
Cengage Learning (CNGO) upgraded to Outperform from In-Line at Imperial Capital
Citrix (CTXS) upgraded to Buy from Sell at Berenberg
Exelon (EXC) upgraded to Buy from Hold at Deutsche Bank
Exelon (EXC) upgraded to Market Perform from Underperform at Wells Fargo
FARO Technologies (FARO) upgraded to Outperform from Neutral at RW Baird
Flushing Financial (FFIC) upgraded to Buy from Neutral at Guggenheim
ING Groep (ING) upgraded to Neutral from Underweight at HSBC
JetBlue (JBLU) upgraded to Overweight from Neutral at JPMorgan
KeyCorp (KEY) upgraded to Market Perform from Underperform at Bernstein
National CineMedia (NCMI) upgraded to Buy from Neutral at B. Riley
Pacific Biosciences (PACB) upgraded to Neutral from Underweight at JPMorgan
Quaker Chemical (KWR) upgraded to Overweight from Equal Weight at First Analysis
Regions Financial (RF) upgraded to Market Perform from Underperform at Bernstein
Rocket Fuel (FUEL) upgraded to Equal Weight from Underweight at Evercore
Synageva (GEVA) upgraded to Buy from Neutral at Janney Capital
Synchronoss (SNCR) upgraded to Strong Buy from Outperform at Raymond James
Synovus (SNV) upgraded to Equal Weight from Underweight at Morgan Stanley
U.S. Silica (SLCA) upgraded to Buy from Hold at Jefferies
Wright Medical (WMGI) upgraded to Strong Buy from Buy at Needham
Yelp (YELP) upgraded to Outperform from Neutral at Macquarie
Yelp (YELP) upgraded to Outperform from Sector Perform at RBC Capital
Yelp (YELP) upgraded to Overweight from Neutral at Piper Jaffray
Downgrades
CEVA (CEVA) downgraded to Hold from Buy at Wunderlich
CNO Financial (CNO) downgraded to Neutral from Buy at Goldman
Clean Harbors (CLH) downgraded to Neutral from Outperform at RW Baird
Coach (COH) downgraded to Underweight from Equal Weight at Morgan Stanley
EXCO Resources (XCO) downgraded to Underperform from Sector Perform at RBC Capital
Emulex (ELX) downgraded to Neutral from Overweight at Piper Jaffray
Essilor (ESLOY) downgraded to Neutral from Buy at Citigroup
GFI Group (GFIG) downgraded to Market Perform from Outperform at Keefe Bruyette
Pepco Holdings (POM) downgraded to Market Perform from Outperform at Wells Fargo
USA Compression (USAC) downgraded to Market Perform from Outperform at Wells Fargo
Initiations
Flowers Foods (FLO) initiated with an Outperform at Imperial Capital
Navient (NAVI) initiated with an Equal Weight at Evercore
COMPANY NEWS
EQT (EQT) said it will sell Jupiter gathering system to EQT Midstream Partners (EQM) for $1.18B. EQT also signed an asset exchange agreement with Range Resources (RRC) and announced a 1M share repurchase authorization
Weight Watchers (WTW) raised its FY14 earnings outlook to $1.45-$1.70 per share from $1.30-$1.60
Yelp (YELP), which gave a FY14 revenue outlook that topped current expectations, said Q1 cumulative reviews increased 46% to 57M
Chevron (CVX) raised its quarterly dividend to $1.07 per share from $1.00
Abercrombie & Fitch (ANF) nominated four independent directors to board, announced settlement agreement with Engaged Capital, under which Engaged agreed to withdraw its notice of nomination of directors for election
Aeropostale (ARO) said it will close 125 P.S. stores, cut 100 positions
Starwood Hotels (HOT) CFO Vasant Prabhu resigned to become CFO of NBCUniversal (CMCSA)
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Vical (VICL), Pacira Pharmaceuticals (PCRX), Swift Energy (SFY), Ball Corp. (BLL), Quanta Services (PWR), ExlService (EXLS), Calpine (CPN), CytRx (CYTR), Care.com (CRCM), Proto Labs (PRLB), Endo International (ENDP), Enterprise Products (EPD), Becton Dickinson (BDX), Cigna (CI), Orbotech (ORBK), Orion Marine (ORN), Republic Airways (RJET), Fleetmatics (FLTX), United Insurance (UIHC), Atwood Oceanics (ATW), La Jolla (LJPC), C&J Energy (CJES), Charles River Labs (CRL), Tesoro Logistics (TLLP), Tetra Tech (TTEK), Chesapeake Lodging (CHSP), Blackbaud (BLKB), Curtiss-Wright (CW), Lincoln National (LNC), Con-way (CNW), Digital River (DRIV), Glu Mobile (GLUU), Synageva (GEVA), Flextronics (FLEX), Amdocs (DOX), Williams (WMB), Weight Watchers (WTW), Atmel (ATML), Fidelity National (FNF), Shutterfly (SFLY), Intersil (ISIL), Cohu (COHU), Intrepid Potash (IPI), Accuray (ARAY), Western Digital (WDC), Manning & Napier (MN), First Bancorp (fbnc), Rovi (ROVI), Equinix (EQIX), Coherent (COHR), Cavium (CAVM), NCI, Inc. (NCIT), Hologic (HOLX), International Rectifier (IRF), Yelp (YELP), Green Dot (GDOT), Kratos Defense (KTOS), Whiting Petroleum (WLL), WebMD (WBMD), Roadrunner (RRTS), QuickLogic (QUIK)
Companies that missed consensus earnings expectations include:
Textron (TXT), Beazer Homes (BZH), Integra LifeSciences (IART), ACI Worldwide (ACIW), Genesee & Wyoming (GWR), Generac (GNRC), Heritage-Crystal Clean (HCCI), Buenaventura (BVN), Crocs (CROX), Xenith Bankshares (XBKS), SJW Corp. (SJW), American Railcar (ARII), Ashland (ASH), Terex (TEX), Orient-Express (OEH), Remy International (REMY), Hyster-Yale Materials (HY), North Valley Banc (NOVB), Stanley Furniture (STLY), Chemtura (CHMT), California Water Service (CWT), Stamps.com (STMP), Amerisafe (AMSF), Energy XXI (EXXI), Alphatec (ATEC), Hornbeck Offshore (HOS), Comfort Systems USA (FIX), Cabot (CBT), Oiltanking Partners (OILT), TTM Technologies (TTMI), Oplink Communications (OPLK), ManTech (MANT), inTEST (INTT), Williams Partners (WPZ), MedAssets (MDAS), TESARO (TSRO), McGrath RentCorp (MGRC), MetLife (MET), Martin Midstream Partners (MMLP), JDSU (JDSU), OncoGenex (OGXI), Forrester (FORR), American Equity (AEL), Boyd Gaming (BYD), Silicon Graphics (SGI)
Companies that matched consensus earnings expectations include:
Iron Mountain (IRM), MEDNAX (MD), Key Energy (KEG), Kirby (KEX), MDU Resources (MDU), Pilgrim's Pride (PPC), Allegion (ALLE), Jack Henry (JKHY), Macquarie Infrastructure (MIC), United Online (UNTD), Kona Grill (KONA), Endologix (ELGX), Portfolio Recovery (PRAA), ANADIGICS (ANAD), Dyax (DYAX), Pacific Biosciences (PACB), Sensar (SCII)
NEWSPAPERS/WEBSITES
AT&T (T) approached DirecTV (DTV) about possible takeover, WSJ reports
Coca-Cola (KO) to amend executive pay after pressure from Buffett (BRK.A), WSJ says
Winters says Coca-Cola (KO) compensation plan 'excessive,' Bloomberg reports
Softbank (SFTBF) and Sprint (S) deal for T-Mobile (TMUS) not imminent, Re/code reports
Rio Tinto (RIO) sues Vale (VALE), Steinmetz over iron-ore concession, WSJ reports
Alibaba in talks with Alipay about regaining stake, NY Times reports
Merck (MRK), Sanofi (SNY) exploring sale of off-patent drug assets, Reuters says
Box's (BOX) IPO may be delayed until June or later, WSJ reports
Twitter (TWTR) still looks expensive, Barron's says
SYNDICATE
Alphatec (ATEC) files to sell 10.25M shares of common stock for holders
Apollo Commercial (ARI) files to sell 9M shares of common stock
AxoGen (AXGN) files to sell $35M shares of common stock
Burlington Stores (BURL) 12M share Secondary priced at $25.75
EQT Midstream Partners (EQM) files to sell 8.75M common units for limited partners
Forum Energy (FET) 10M share Secondary priced at $29.00
Sterling Construction (STRL) announces bought deal offering of 2.1M shares
Uranium Resources (URRE) files to sell 4.5M shares of common stock for holders
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
MACK Merrimack Pharmac... 8.00 82.23%
TMUS T-mobile US Inc. ... 31.99 9.22%
YELP Yelp 63.50 8.88%
IEP Icahn Enterprises... 109.95 8.88%
DTV Directv 83.98 8.22%
MAS Masco Corp. 21.46 6.82%
S Sprint Corporatio... 9.02 6.12%
AAWW Atlas Air Worldwi... 37.00 5.74%
IQNT Inteliquent Inc 14.39 5.50%
GTAT GT Advanced Techn... 17.34 4.39%
LYG Lloyds Banking Gr... 5.39 4.26%
ISIL Intersil Corp. 12.85 4.13%
JBLU Jetblue Airways C... 8.19 3.61%
P Pandora Media 24.25 3.54%
ARWR Arrowhead Researc... 11.30 3.49%
NMR Nomura Holdings I... 6.06 3.41%
IRDM Iridium Communica... 6.89 3.30%
CAH Cardinal Health I... 71.51 2.88%
SKBI Skystar Bio-pharm... 5.10 2.82%
GLUU Glu Mobile Inc. 4.10 2.50%
Top Losing Stocks
Price %Change
SLM Slm Corp. 9.50 -63.11%
ELX Emulex Corp. 6.30 -11.89%
JDSU Jds Uniphase Corp... 11.60 -8.45%
ARG Airgas Inc. 100.10 -5.80%
ARAY Accuray Incorpora... 8.00 -4.76%
JPNS Direxion Daily Ja... 30.10 -4.66%
QUIK Quicklogic Corpor... 4.51 -4.65%
CALL magicjack Vocalte... 16.91 -4.36%
BVN Compania de Minas... 12.46 -4.15%
SNE Sony Corp. Ads 16.91 -4.14%
ACIW Aci Worldwide Inc... 55.00 -3.76%
BGC General Cable Cor... 24.70 -3.59%
SFLY Shutterfly Inc. 39.50 -3.49%
ANSS Ansys Inc. 74.04 -2.97%
ARI Apollo Commercial... 16.52 -2.88%
VOD Vodafone Group Pl... 36.87 -2.87%
ANR Alpha Natural Res... 4.18 -2.79%
WLT Walter Energy Inc... 7.00 -2.78%
MET Metlife Inc. 51.00 -2.58%
JNUG Direxion Daily Jr... 18.95 -2.57%
Read more at http://thestockmarketwatch.com/markets/pre-market/#AmTP7lttYf9Q1Ou7.99
data:
Motor Vehicle Sales[Report][djStar]
Challenger Job-Cut Report
[Bullet7:30 AM ET
Gallup US Payroll to Population
[Bullet8:30 AM ET
Jobless Claims
[Report][Star]8:30 AM ET
Personal Income and Outlays
[Report][Star]8:30 AM ET
Janet Yellen Speaks
8:30 AM ET
PMI Manufacturing Index
[Report][djStar]9:45 AM ET
Bloomberg Consumer Comfort Index
[Bullet9:45 AM ET
ISM Mfg Index
[Report][Star]10:00 AM ET
Construction Spending
[Report][djStar]10:00 AM ET
EIA Natural Gas Report
[Bullet10:30 AM ET
3-Month Bill Announcement
[Bullet11:00 AM ET
6-Month Bill Announcement
[Bullet11:00 AM ET
Fed Balance Sheet
[Bullet4:30 PM ET
Money Supply
[Bullet4:30 PM ET
Futures -4
hi pal!.....
April was a very good month for everything except trading!
Couldn't hit anything....
Made a few hundred here and there, but nothing to post about...
ICPT was my saddest one....had it on the 21st...sold for $200 and then it popped +$40 on the 22nd....
I hope all is well with you!
good morning