is trading.....maybe!!
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Earnings Preview for the week of March 3 - 7 Some names include
Monday:
Pre Market - CORE, NUS, MGLN, JKS, ROC, SSYS, DNDN
After Hours - URS, ASNA, MDR, VIPS, MR, MBI, SCTY
Tuesday:
Pre Market - BNS, AZO, RSH, TSL, GTIV, SPP
After Hours - ABM, ALDW, BOBE, SWHC, BV
Wednesday:
Pre Market - PETM, BF.B, CSIQ, HOV
After Hours - EVHC, SPTN, BYD
Thursday:
Pre Market - COST, KR, SPLS, CNQ, CST, JOY, PF, CIEN, PLCE, NEON
After Hours - ALJ, THO, LGP, HRB, TFM, COO, FNSR, WTI, QIHU, CKP, SPPI
Friday:
Pre Market - FL, GCO, PWE
yes, trading has been fun....
really excited about the kids new bikes.....they learned on their smaller ones...
got them new ones that fit just right.....didn't go old school and buy them a huge bike they will grow into like when I was little!
so no go home yet....I hope the fever breaks soon...
enjoy the little feet in the meantime!!!
see you this weekend!!!
outta here!
Frontrunning:
Yuan suffers biggest weekly loss as PBOC punishes speculators (Reuters)
Euro Gains as Bonds Decline With Stocks on Inflation Data (BBG)
Biggest Sovereign Fund Forced to Sell Stocks as Mandate Breached (BBG)
Because we don't already have enough fried foods.. (Reuters)
Putin: Russia to Consider Aid to Ukraine (AP)
Wall Street Hates JPMorgan Fee for $1 Trillion Junk Loans (BBG)
Yellen Sticks to Plan Amid Weather Doubts (WSJ)
U.S. Retail Chains See First Profit Decline Since Recession (BBG)
Sotheby’s Pink Diamond Buyer Defaulted on Record Purchase (BBG)
Winter Storm Threatens New Yorkers on First Commute in March (BBG)
New York Plaza Owner Arrested Amid $3.9 Billion Refund Probe (BBG)
Overnight Media Digest
WSJ
* Federal Reserve Chairwoman Janet Yellen said bad weather might explain the patch of soft economic data making headlines during the past few weeks, but she isn't quite sure.
* Insurers are rushing to gather health information from the new customers they won on public marketplaces in a high-stakes outreach effort crucial to their hopes of profiting from the health-care law.
* Sandwich chain Quiznos is preparing to file for bankruptcy-court protection within weeks as it contends with unhappy franchisees and a $570 million debt load, according to people with direct knowledge of the matter.
* Wells Fargo said it is cutting another 700 mortgage jobs, as the U.S. home refinancing market continues to cool.
* Jos. A. Bank Clothiers Inc rejected Men's Wearhouse Inc's $1.8 billion takeover as "inadequate," but in doing so left open the possibility of ultimately agreeing to a tie-up with its rival.
* Freddie Mac reported a record annual profit of $48.7 billion for 2013 on Thursday, powered by a strong rebound in U.S. home prices and a series of legal and accounting benefits that reversed earlier losses.
* SunTrust Banks Inc is the subject of an investigation into whether its actions may have resulted in unspecified losses to Fannie Mae the government-controlled mortgage-finance company, according to federal filings and people familiar with the matter.
* Venture capitalist Marc Andreessen defended the corporate-governance practices of the technology industry and said he recuses himself from boardroom discussions that could involve companies his firm is backing.
* Federal regulators plan to file a legal action against a unit of mortgage-servicing firm Walter Investment Management over alleged violations of consumer financial laws, the company said in a regulatory filing Thursday.
* Teens as young as 13 are sometimes shown Facebook ads inappropriate to their age, underscoring Facebook's challenge in policing a social network with more than a billion users and a million advertisers.
FT
British Prime Minister David Cameron announced an independent inquiry into letters of immunity sent to IRA suspects after an angry response to the freeing of an Irishman accused of 1982 bombing that killed four soldiers in London.
Spain's government has started to sell some of its shares in nationalised lender Bankia with an initial offer to investors of a 7.5 percent stake in an attempt towards reprivatisation.
Europe's largest insurer Allianz's Chief Executive warned of interference in the operating decisions of Pimco amid pressure from investors to protect the bond fund manager brand.
Insurance and pensions heavyweight Standard Life became the first major company to warn it could move partly out of Scotland if Scots split from the United Kingdom, fuelling a political row over the financial impact of independence.
Italian fashion house Versace is selling a 20 percent stake to U.S. private equity firm Blackstone through the injection of 150 million euros of fresh capital and the purchase of 60 million euros worth of shares from the Versace family.
NYT
* Accounts based on documents supplied by Edward Snowden say images - many sexually explicit - were collected from Yahoo users, even those not suspected of illegal activity.
* The instant growth in the oil-by-rail business is increasing the oil supply, but also raising alarms.
* State and federal regulators are worried that Ocwen Financial Corp is mishandling some of the mortgages it services, citing examples of shoddy paperwork and faulty technology.
* SeaWorld Entertainment Inc has come under fire after a documentary criticized its practice of holding whales in captivity. Now, the company is firing back.
* Janet Yellen, the Federal Reserve chairwoman, said on Thursday that the Fed was looking closely at a recent run of disappointing economic data as it considers how quickly to retreat from its economic stimulus campaign.
* Scrambling to contain the expanding fallout from the recall of about 1.4 million small cars because of a faulty ignition switch, General Motors Co again apologized on Thursday and said that it hoped to start repairing the cars in early April.
* A British man has been charged with hacking into computer servers belonging to the United States Federal Reserve, and then widely disclosing personal information of people who use them.
* Jos. A. Bank Clothiers Inc said on Thursday that its board had rejected Men's Wearhouse Inc's latest takeover bid, worth nearly $1.8 billion, but said that it was willing to meet to try and agree on a higher price.
Canada
THE GLOBE AND MAIL
* Long-simmering tension between Toronto Mayor Rob Ford and the city's police chief reached a new level of animosity with the mayor daring Chief Bill Blair on Thursday to "arrest me."
* With its flagship project rejected once more, Taseko Mines Ltd is refusing to throw in the towel, saying it will not give up its bid for a federal judicial review of what the company calls a flawed environmental report.
Reports in the business section:
* Bruce Power is working to secure the commitment from its two leading shareholders - TransCanada Corp and the Ontario Municipal Employees Retirement System - for a 15-year, C$15 billion ($13.5 billion) project to refurbish six Candu reactors at its Lake Huron site.
* Amid signs of a cooling Canadian economy and slower personal borrowing, the country's largest lenders are reporting stellar results, reviving memories of a recent earnings season when four of the Big Six banks reported record profits.
NATIONAL POST
* At the just-concluded Liberal national policy convention, a motion called for Australian-style gun control in Canada. This would see a huge number of guns seized from their owners in exchange for monetary compensation, and then destroyed. The motion was defeated, but that didn't stop some Tory members of parliament from warning lawful gun owners that the Liberals are out to get them.
* Quebec's Premier Pauline Marois says she doesn't believe Quebec's anglophone and allophone communities are living in a climate of insecurity despite a recent poll suggesting the contrary. The EKOS poll, conducted for CBC-Radio-Canada, suggested that 51 percent of anglophones surveyed had considered leaving Quebec in the past year.
FINANCIAL POST
* WestJet Airlines Ltd could bring in wide-body aircraft for in-house flying as soon as next year, the company disclosed to its pilots in a private presentation on Thursday.
* British Columbia's finance minister says the government is taking West Coast liquefied natural gas investment "very seriously," even as companies such as Royal Dutch Shell push back on the province's 7 percent additional income tax on proposed LNG projects on the West Coast.
China
SHANGHAI SECURITIES NEWS
- Ownership reform of state-owned enterprises (SOEs) in the southern Chinese province of Guangdong is expected to attract more than 100 billion yuan ($16.32 billion) of private capital, the region's vice governor Xu Shaohua said. The reform should be completed by 2015, he added.
- China will adopt five key measures to deal with worsening air pollution problems, including promoting natural gas supply, building new electric transmission networks and developing new energy technology, the country's energy authorities said.
CHINA SECURITIES JOURNAL
- Asset-backed securitization is estimated to hit 200 billion yuan ($32.63 billion) this year, industry experts told the official paper.
SHANGHAI DAILY
- A police official in the southwestern province of Sichuan has been arrested for taking 31 million yuan ($5.06 million) in bribes. Authorities raided his home and office, finding close to $2 million in cash alone.
SECURITIES TIMES
- Shenzhen's Qianhai free trade zone (FTZ), a testing ground for many policies to attract overseas investments, will help promote trade liberalization in Hong Kong, Macau and Guangdong, the Qianhai authority said in a document.
CHINA DAILY
- Chinese contractors earned $137 billion in revenues from operations abroad in 2013, according to the China International Contractors Association. This was up 17.6 percent from a year earlier, driven by growing demand in Europe and Latin America.
PEOPLE'S DAILY
- China needs to remember its history in order to create a bright future, the paper which acts as a Party mouthpiece said in an editorial. This comes in the wake of the country setting two new national memorial days to mark its victory in the Sino-Japanese war and the massacre of its civilians in Nanjing.
Britain
The Telegraph
GLAXO BONUSES HURT BY CHINA SCANDAL
Bonuses for GlaxoSmithKline's top executives were "lower than they otherwise might have been" last year due to a major bribery scandal in China that has dogged the company since June, the company said in its annual report.
BRITISH AMERICAN TOBACCO THREATENS LEGAL CHALLENGE TO PLAIN PACKAGING PROPOSALS
British American Tobacco has threatened to take the UK government to court over proposals to enforce plain packaging on cigarette packages.
The Guardian
STANDARD LIFE WARNS IT MAY QUIT AN INDEPENDENT SCOTLAND
Standard Life, the Edinburgh-based financial services group, became the largest and most influential Scottish firm yet to warn about the possible impact of independence and said it was setting up English subsidiary companies in case it decided to relocate.
BANK OF ENGLAND IDENTIFIES NEED TO SHELTER HOMEOWNERS FROM INTEREST SPIKE
The Bank of England's base rate would peak close to 3 percent to protect mortgage payers from a big increase in monthly interest payments, a senior Bank of England official said .
The Times
RBS TO SLIM DOWN AS LOSSES HIT 8.2 BILLION POUNDS
Shares in Royal Bank of Scotland slid more than 9 per cent today after the bank revealed a "sobering" £8.24 billion loss and its chief executive revealed a radical restructuring plan.
O2 BEATS VODAFONE TO 1 MILLION 4G CUSTOMERS
The Spanish-owned network maintained its position as Britain's second-largest mobile operator after adding 222,000 customers in the fourth quarter, bringing its total customer base to 23.9 million.
Sky News
OFGEM DEMANDS BIG SIX RETURN CUSTOMER CASH
Ofgem will on Friday intensify the pressure on the big six energy companies by demanding that they hand back hundreds of millions of pounds in surplus customer funds.
DEBT MANAGEMENT FIRMS ARE 'FAILING PUBLIC'
Indebted people who try to get out of financial trouble by using the services of consolidation firms are seeing up to four fifths of the money they pay going on fees and charges rather than their debts, a Sky News investigation has found.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Q4 GDP, second read, at 8:30--consensus 2.5%
Chicago PMI for February at 9:45--consensus 56.4
U. of Michigan consumer confidence at 9:55--consensus 81.5
Pending home sales for January at 10:00--consensus up 2.3% for the month
ANALYST RESEARCH
Upgrades
American States Water (AWR) upgraded to Buy from Hold at Brean Capital
Crane (CR) upgraded to Buy from Neutral at Citigroup
Credit Suisse (CS) upgraded to Overweight from Equal Weight at Barclays
Eaton Vance (EV) upgraded to Buy from Neutral at Sterne Agee
Gap (GPS) upgraded to Neutral from Underweight at Atlantic Equities
Principal Financial (PFG) upgraded to Outperform from Market Perform at Keefe Bruyette
RadiSys (RSYS) upgraded to Buy from Hold at Needham
Taseko Mines (TGB) upgraded to Buy from Neutral at BofA/Merrill
TripAdvisor (TRIP) upgraded to Neutral from Negative at Susquehanna
WesBanco (WSBC) upgraded to Outperform from Market Perform at Keefe Bruyette
Westlake Chemical (WLK) upgraded to Overweight from Neutral at JPMorgan
Downgrades
Abaxis (ABAX) downgraded to Underperform from Neutral at BofA/Merrill
American Assets (AAT) downgraded to Market Perform at JMP Securities
American Public (APEI) downgraded to Market Perform from Outperform at BMO Capital
American States Water (AWR) downgraded to Neutral from Buy at Janney Capital
Catamaran (CTRX) downgraded to Neutral from Buy at ISI Group
Deckers Outdoor (DECK) downgraded to Hold from Buy at Jefferies
Eagle Rock Energy (EROC) downgraded to Market Perform from Outperform at Wells Fargo
Endologix (ELGX) downgraded to Perform from Outperform at Oppenheimer
Equity One (EQY) downgraded to Market Perform from Outperform at Raymond James
Hanesbrands (HBI) downgraded to Hold from Buy at Stifel
InterMune (ITMN) downgraded to Neutral from Outperform at Credit Suisse
Isle of Capri (ISLE) downgraded to Hold from Buy at Deutsche Bank
James Hardie NV (JHX) downgraded to Neutral from Buy at BofA/Merrill
KBR (KBR) downgraded to Hold from Buy at BB&T
MarkWest Energy (MWE) downgraded to Equal Weight from Overweight at Morgan Stanley
MarkWest Energy (MWE) downgraded to Market Perform from Outperform at Wells Fargo
Medivation (MDVN) downgraded to Hold from Buy at Jefferies
Medivation (MDVN) downgraded to Market Perform from Outperform at Cowen
Pan American Silver (PAAS) downgraded to Hold from Buy at Deutsche Bank
Performant Financial (PFMT) downgraded to Neutral from Outperform at Credit Suisse
ResMed (RMD) downgraded to Neutral from Overweight at JPMorgan
Silver Standard (SSRI) downgraded to Sell from Hold at Deutsche Bank
Solar Senior (SUNS) downgraded to Market Perform from Outperform at JMP Securities
The Fresh Market (TFM) downgraded to Outperform from Strong Buy at Raymond James
Vanguard Natural (VNR) downgraded to Market Perform from Outperform at Wells Fargo
Vantiv (VNTV) downgraded to Hold from Buy at Jefferies
Westar Energy (WR) downgraded to Equal Weight from Overweight at Barclays
YuMe (YUME) downgraded to Neutral from Buy at Citigroup
Zale (ZLC) downgraded to Neutral from Buy at Citigroup
Initiations
Magellan Health (MGLN) initiated with a Market Perform at Leerink
Virtus Investment Partners (VRTS) initiated with a Neutral at BofA/Merrill
COMPANY NEWS
Jos. A. Bank (JOSB) rejected $63.50 tender offer, agreed to meet with Men's Wearhouse (MW)
Pepsi (PEP) sent letter to Peltz, rejected proposal
Mattel (MAT) acquired MEGA Brands in transaction valued at about $460M
ParkerVision (PRKR) gained after Qualcomm (QCOM) dismissed counterclaims against the company in their patent infringement suit
Decker's Outdoors (DECK) fell 14% after the UGG manufacturer reported Q4 earnings and sales that beat estimates, but forecast a Q1 loss of 16c against analysts' expectations for a 10c profit
Nippon TV acquired Hulu service (CMCSA, DIS, FOXA) in Japan
Juniper (JNPR) entered $1.2B accelerated share repurchase agreements
Ashford Hospitality (AHT) to spin off asset management business
Aqua America (WTR) prepared to invest in strategic ventures
United Continental (UAL) forecast Q1 PRASM down 0.5%-2.5%
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Buenaventura (BVN), Aqua America (WTR), New Gold (NGD), Howard Hughes (HHC), Universal Health (UHS), OmniVision (OVTI), Mentor Graphics (MENT), Esterline (ESL), Hyperion Therapeutics (HPTX), Deckers Outdoor (DECK), SandRidge Energy (SD), Air Lease (AL), ACADIA (ACAD), Tumi (TUMI), Salesforce.com (CRM), Gap (GPS)
Companies that missed consensus earnings expectations include:
Tesco (TESO), Orient-Express (OEH), Atlas Resource Partners (ARP), Comfort Systems USA (FIX), Willbros Group (WG), Bio-Rad (BIO), Arena Pharmaceuticals (ARNA), Clovis (CLVS), Merrimack (MACK), Einstein Noah (BAGL), Monster Beverage (MNST), Sotheby's (BID)
Companies that matched consensus earnings expectations include:
Pactera (PACT), Sequenom (SQNM), Spectranetics (SPNC), Ross Stores (ROST)
NEWSPAPERS/WEBSITES
Amazon (AMZN) negotiating Prime streaming music service, Re/code reports
U.S. judge: Gmail suit against Google (GOOG) faces significant hurdle, Reuters reports
IBM (IBM),in restructuring move, begins cutting U.S. jobs, Bloomberg reports
3M (MMM) working with Goldman (GS) to sell some electronics units, Bloomberg reports
Warner Bros. (TWX) planning Minecraft movie, CNET reports
German court dismisses patent suit against Apple (AAPL), Bloomberg reports
UBS (UBS) to trade Chinese stock futures, Bloomberg reports
GM (GM) looking to start repairing ignition switches in April, NY Times reports
Musk (TSLA) says battery swapping should be available in few months, Bloomberg reports
Nissan (NSANY) aims to rev up production in U.S., Detroit News reports
SYNDICATE
Ampio (AMPE) 8.5M share Secondary priced at $7.00
Bankrate (RATE) files to sell 14M shares of common stock for holders
Colony Financial (CLNY) files to sell 12M shares of common stock
Compugen (CGEN) files automatic ordinary share shelf
DCP Midstream (DPM) 12.5M share Secondary priced at $48.90
Enzymotec (ENZY) 4.8M share Secondary priced at $28.00
Neptune Technologies (NEPT) files to sell common stock
Prospect Global Resources (PGRX) files to sell 17M shares of common stock
Sunoco Logistics (SXL) files to sell $250M in common units
United Insurance (UIHC) 4M share Secondary priced at $12.50
Varonis (VRNS) 4.8M share IPO priced at $22.00
Average:
0
Pre Market Movers
Top Gaining Stocks
Price %Change
OVTI Omnivision Techno... 18.50 14.20%
MELI Mercadolibre Inc ... 107.10 13.66%
IG Igi Laboratories ... 4.75 13.10%
YOKU Youku Tudou 34.49 11.76%
WUBA 58.com Inc 46.50 10.74%
SOHU Sohu.com Inc. 86.00 9.18%
REGI Renewable Energy ... 12.70 6.81%
TWGP Tower Group Inter... 2.98 5.86%
CARA Cara Therapeutics... 18.35 5.70%
NVAX Novavax Inc. 7.00 5.26%
CLNT Cleantech Solutio... 6.35 5.05%
QIWI Qiwi plc 51.30 4.76%
AUXL Auxilium Pharmace... 32.30 4.73%
GLUU Glu Mobile Inc. 5.27 4.36%
USU Usec Inc. 5.70 3.83%
JOSB Jos. A. Bank Clot... 62.50 3.65%
AT Atlantic Power Co... 2.60 3.59%
ESV Ensco CL A 54.43 3.46%
PEIX Pacific Ethanol I... 15.42 3.21%
PWRD Perfect World Co.... 20.87 3.16%
Top Losing Stocks
Price %Change
IMI Intermolecular In... 3.21 -16.62%
CGEN Compugen Ltd. 11.93 -15.99%
DECK Deckers Outdoor C... 73.65 -13.02%
MEIL Methes Energies I... 3.46 -11.51%
MDVN Medivation Inc. 75.00 -11.26%
ARNA Arena Pharmaceuti... 6.09 -10.04%
UIHC United Insurance ... 12.99 -8.13%
NEPT Neptune Technolog... 2.76 -7.38%
PSO Pearson Plc Ads 16.93 -7.33%
MGIC Magic Software En... 8.90 -6.20%
AMPE Ampio Pharmaceuti... 7.45 -6.17%
BIOF Biofuel Energy Co... 3.25 -6.07%
MACK Merrimack Pharmac... 4.80 -5.14%
DOV Dover Corp. 87.21 -4.96%
BONA Bona Film Group L... 6.95 -4.53%
ITMN Intermune Inc. 29.40 -4.08%
PKT Procera Networks ... 11.29 -3.83%
UAL United Continenta... 44.78 -3.72%
QCOR Questcor Pharmace... 65.01 -3.65%
BVN Compania de Minas... 12.18 -2.79%
Read more at http://thestockmarketwatch.com/markets/pre-market/#t3QskUWpSzYAxBCV.99
data:
Richard Fisher Speaks
5:00 AM ET
GDP
[Report][Star]8:30 AM ET
Chicago PMI
[Report][djStar]9:45 AM ET
Consumer Sentiment
[Report][djStar]9:55 AM ET
Pending Home Sales Index
[Report][djStar]10:00 AM ET
Jeremy Stein Speaks
10:15 AM ET
Charles Evans Speaks
1:30 PM ET
Farm Prices
[Bullet3:00 PM ET
Futures -14
good morning
thank you.....bought the kids new bikes tonight....
and plan on hitting the bike trail w/my friend I'm helping trade...
Enjoy yours as well!!!
great post bob....
and glad you got to let go of that long hold fr Jan....
hope all is well....
ibox updated, funds transferred, time for a 3 day weekend....
Week ending 2/28/14: +$4,191
enjoy yours folks...
Frontrunning:
European Bonds Surge on Slowing German Inflation, Ukraine Tumult (BBG)
Ukraine tensions hit shares (Reuters)
Debating Geithner’s Appearances in 2008 Transcripts (Hilsenrath)
Tensions in Asia Stoke Rising Nationalism in Japan (WSJ)
GM Investigated Over Ignition Recall Linked to 13 Deaths (BBG)
Smartphone wars shift from gadgetry to price (Reuters)
Some Companies Alter the Bonus Playbook (WSJ)
London’s Subterranean Luxury Manors Lure New Breed of Lenders (BBG)
Japan No Country for Old Farmers as 7-Eleven Takes Plow (BBG)
Dream of U.S. Oil Independence Slams Against Shale Costs (BBG)
EU's Highest Court Rules Spain Fuel Tax is Unlawful (WSJ)
And in other news... Arizona governor vetoes bill widely criticized as anti-gay (Reuters)
Britain’s economic recovery is rooted overseas (FT)
Porsche Founder’s Legacy Hits Nazi Past in Czech Hometown (BBG)
Rajan Says RBI Aims to Curb Inflation ‘Over Time,’ Not Abruptly (BBG)
Overnight Media Digest
WSJ
* New York's financial regulator is probing mortgage-servicing firm Ocwen Financial Corp's relationships with several businesses, saying that borrowers may be harmed because of the companies' close ties.
* The Consumer Financial Protection Bureau filed a lawsuit against ITT Educational Services Inc on Wednesday claiming the company engaged in predatory lending by pushing its students into high-cost private loans likely to default.
* The Obama administration has asked a special surveillance court for approval to retain records of millions of Americans' phone calls stored by the National Security Agency - an unintended consequence of lawsuits seeking to stop the data-surveillance program.
* Verizon Communications Inc is investigating possible security breaches at two unnamed retailers that appear similar to intrusions at other merchants late last year.
* A record $14 million whistleblower award paid by the Securities and Exchange Commission last year was for a tip about an alleged Chicago-based scheme to defraud foreign investors seeking U.S. residency, according to people familiar with the payment.
* China's central bank engineered the recent decline in the country's currency as part of its efforts to prepare the tightly tethered yuan for wider trading, according to people familiar with the central bank's thinking.
* Oil Search Ltd said it would raise $1.09 billion to fund the purchase of stakes in two large natural gas discoveries in Papua New Guinea, boosting its bets on an impoverished country soon to join the ranks of global gas producers.
* Data released Wednesday by the Federal Deposit Insurance Corp shows that the outstanding balance on loans for land acquisition, development and construction rose in the fourth quarter to $209.9 billion, compared with $206 billion in the third quarter. While that is a relatively small gain, economists note that if the overall balance is growing it means that originations of new loans are likely rising even faster. It was the third consecutive quarter of growth.
* Sales of new homes surged unexpectedly in January, easing concerns about a deeper housing-sector slowdown.
* Boeing Co filed plans this week with the Federal Communications Commission for a smartphone dubbed Boeing Black, which is designed for defense and security customers and won't be available to average consumers.
* Electric car maker Tesla Motors Inc said on Wednesday its proposed battery "Gigafactory" would cost up to $5 billion and allow it to sell as many as 500,000 vehicles a year.
FT
Spanish group Telefonica's bid to takeover E-Plus, Germany's top mobile operator, for 8.6 billion euros has been challenged by Brussels in an antitrust objection, claiming that the buyout would raise mobile tariffs by up to a third.
The Financial Conduct Authority is set to increase scrutiny of trading houses in an attempt to increase transparency in markets. In a report to be published on Thursday, the FCA will say that the rise in proportion of activity in London markets by unregulated, overseas entities poses a challenge to its market supervisions, alongside risks to market standards and integrity.
A Whitehall memo cites a U-turn by David Cameron in ensuring insurance cover to the 9,000 "newly built or high value" households, which were earlier excluded from benefiting from the Flood Re scheme.
U.S. private-equity giant Blackstone is nearing a deal to buy a 20 percent stake in Italian fashion brand Versace, according to people familiar with the talks.
Scotland's financial services industry head has warned that an independent Scotland's use of the British pound without the permission of the rest of the UK could endanger the stability of the nation's financial sector.
NYT
* The turn to bigger screens is a sharp departure from the dominant strategy of phone makers just a few years ago, when critics often mocked devices with big screens, joking that people would never buy them.
* Federal prosecutors in Manhattan are said to have issued a grand jury subpoena to Mt. Gox, while regulators in Japan weigh how to regulate Bitcoin.
* In the wake of the implosion of the Bitcoin trading platform Mt. Gox, countries like the United States and Japan are gathering data on virtual currency.
* Senators accused Credit Suisse of helping thousands of Americans hide billions of dollars in assets from United States tax authorities.
* Mythili Raman, an acting assistant attorney general overseeing some of the biggest investigations into Wall Street misdeeds, will soon depart the Justice Department.
* JPMorgan Chase and American Express said in statements on Wednesday that they oppose an Arizona bill that would let businesses there invoke religion to refuse services to gay and lesbian customers, according to Business Insider.
* The Blackstone Group is contemplating buying a roughly 20 percent stake in Versace at a valuation of about 1 billion euros, or $1.37 billion, in the latest sign that the finance industry's interest in high fashion shows few signs of abating.
* The investment profits generated by private equity, long a subject of debate in Washington, would be taxed at a higher rate under a proposal on Wednesday by the chairman of the House Ways and Means Committee.
Canada
THE GLOBE AND MAIL
* The Conservative government says it shut out opposition parties from a historic delegation to Ukraine because one leader made light of the crisis and the other "wouldn't pick a side" at the outset of the political uprising.
* The federal government has ruled that the proposed New Prosperity copper-gold mine near Williams Lake cannot proceed, striking what could be a final nail into the project that has put the province of British Columbia at loggerheads with Ottawa.
Reports in the business section:
* Royal Bank of Canada's latest quarterly results prove the lender can consistently make over C$2 billion ($1.80 billion). Now the country's most profitable bank must demonstrate it can earn even more.
* One of the world's biggest and most respected hedge funds predicts that Canada's economy has a tough decade ahead of it. Ray Dalio's Bridgewater Associates says the country's economy is just beginning a tough period of rebalancing.
NATIONAL POST
* Alberta is on track to record a C$1.4 billion surplus on day-to-day spending this year, but it will be C$8.5 billion in the hole on the capital side due to borrowing for new schools and roads.
FINANCIAL POST
* Despite posting vastly lower sales than it expected in Canada, Target Corp expects its sales in this country to double this year over last, but it has a long way to go before hitting its longer-term forecast of C$6 billion.
China
CHINA SECURITIES JOURNAL
- Tencent Holdings Ltd has developed insurance products to compete against Alibaba Group Holding Ltd, which will be marketed using Tencent's popular WeChat mobile messaging app.
SECURITIES TIMES
- The Shanghai Stock Exchange said it would push forward the development of the blue chip market in 2014, promoting the issuance procedures of preferred shares included, to provide strategic and emerging industries with better services.
CHINA DAILY
- Chinese aircraft manufacturer AVIC Xi'an Aircraft Industry Group has applied to ground some of its MA-60 regional commuter-class planes after a problem with the landing carriage kept an MA-60 trying to land in Shenyang circling the airport for two hours.
SHANGHAI DAILY
- Thirty-seven Chinese citizens filed suit in Beijing demanding apologies and reparations from Japan for forced labour during the World War II.
PEOPLE'S DAILY
- Constructive advice and sincere criticism is needed to activate institutional benefit through China's democracy, an editorial said in the mouthpiece of the Chinese Communist Party ahead of the National People's Congress in early March.
Britain
The Telegraph
ANDREW BAILEY POURS DOUBT ON SALMOND'S PLANS FOR SHARED FINANCIAL REGULATOR
Andrew Bailey has told MPs that Alex Salmond's plan for the Bank of England to continue to regulate Scottish financial institutions after independence was "not a system in place anywhere else."
RSA SET TO ANNOUNCE 800 MLN STG RIGHTS ISSUE
RSA Group is set to announce a discounted rights issue of around 800 million pounds ($1.33 billion) to bolster its capital position as the insurer suffered a 200 million pound fraud in its Irish business in the run-up to Christmas.
The Guardian
BRITAIN SHOULD KEEP OPEN POSSIBILITY OF JOINING EURO, SAYS LABOUR FRONTBENCHER
Britain should keep open the possibility of eventual membership of the European single currency, according to a Labour frontbencher Lord Liddle who says it would be "ludicrous" for the UK to cut itself off from the EU mainstream for ideological reasons.
SCOTTISH ENGINEERING FIRM WEIR ORDERS INDEPENDENCE REPORT
One of Scotland's biggest companies, engineering group Weir , has commissioned a report into the implications of Scottish independence on businesses after warning that "very serious questions" need to be answered.
The Times
CHANCELLOR ARRIVES ON CRUTCHES TO DEFEND THE EUROPEAN DREAM
Angela Merkel will set out the case for Britain to stay in the European Union in her address to both Houses of Parliament today, while warning that there are limits to the powers that can be won back from Brussels.
CO-OP TO SELL FARMS AND PHARMACIES IN SURVIVAL PLAN
Britain's struggling Co-operative Group said on Wednesday it had kick started the sale of its farms and was looking at selling part or all of its pharmacy business.
Sky News
RBS Slashes Costs As Markets Chief Bows Out
Royal Bank of Scotland will unveil plans to slash billions of pounds from its cost-base on Thursday in an overhaul aimed at facilitating its eventual return to private sector ownership.
Cameron Criticised On Flood Defence Spending
The boss of the country's biggest insurance firm, Legal & General, has told Sky News he is concerned about a lack of spending on flood defences.
Fly on the Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Jobless Claims for the week of Feb. 22 at 8:30--consensus 335K
Durable goods orders for January at 8:30--consensus -1.6%
Kansas City Fed manufacturing activity index at 11:00--consensus 2
ANALYST RESEARCH
Upgrades
Acuity Brands (AYI) upgraded to Overweight from Neutral at Piper Jaffray
Air Products (APD) upgraded to Buy from Neutral at Citigroup
Baidu (BIDU) upgraded to Buy from Hold at Stifel
CSR (CSRE) upgraded to Overweight from Equal Weight at Morgan Stanley
Care.com (CRCM) upgraded to Overweight from Neutral at JPMorgan
First Solar (FSLR) upgraded to Outperform from Neutral at RW Baird
ICF International (ICFI) upgraded to Market Perform from Underperform at Wells Fargo
Nordson (NDSN) upgraded to Buy from Hold at BB&T
PetroChina (PTR) upgraded to Buy from Neutral at Goldman
Ralph Lauren (RL) upgraded to Buy from Neutral at Goldman
Sinopec (SNP) added to Conviction Buy List at Goldman
Sony (SNE) upgraded to Buy from Neutral at Citigroup
Teekay (TK) upgraded to Outperform from Neutral at Credit Suisse
Weatherford (WFT) upgraded to Buy from Neutral at UBS
WellCare (WCG) upgraded to Outperform from Neutral at Credit Suisse
Workday (WDAY) upgraded to Outperform from Market Perform at FBR Capital
Downgrades
AGCO (AGCO) downgraded to Equal Weight from Overweight at Morgan Stanley
Baidu (BIDU) downgraded to Equal Weight from Overweight at Morgan Stanley
CNOOC (CEO) downgraded to Neutral from Buy at Goldman
Campus Crest (CCG) downgraded to Neutral from Outperform at RW Baird
Cedar Realty Trust (CDR) downgraded to Hold from Buy at Wunderlich
Clean Harbors (CLH) downgraded to Perform from Outperform at Oppenheimer
Cree (CREE) downgraded to Neutral from Overweight at Piper Jaffray
Cypress Semiconductor (CY) downgraded to Sector Perform at Pacific Crest
Deutsche Bank (DB) downgraded to Neutral from Buy at BofA/Merrill
Dyax (DYAX) downgraded to Market Perform from Outperform at Leerink
GameStop (GME) downgraded to Underperform from Neutral at Longbow
Globus Medical (GMED) downgraded to Hold from Buy at WallachBeth
ITT Educational (ESI) downgraded to Neutral from Buy at BofA/Merrill
JAKKS Pacific (JAKK) downgraded to Neutral from Buy at B. Riley
LightInTheBox (LITB) downgraded to Perform from Outperform at Oppenheimer
Nektar (NKTR) downgraded to Neutral from Buy at MKM Partners
UTi Worldwide (UTIW) downgraded to Market Perform from Outperform at Avondale
VF Corp. (VFC) downgraded to Neutral from Buy at Goldman
Initiations
Allison Transmission (ALSN) initiated with an Equal Weight at Morgan Stanley
Cummins (CMI) initiated with an Equal Weight at Morgan Stanley
EP Energy (EPE) initiated with a Buy at Citigroup
Express (EXPR) initiated with a Neutral at Wedbush
Francesca's (FRAN) initiated with an Outperform at Wedbush
KaloBios (KBIO) initiated with an Outperform at JMP Securities
Manhattan Associates (MANH) initiated with a Buy at B. Riley
Microsoft (MSFT) initiated with a Neutral at B. Riley
Navistar (NAV) initiated with an Equal Weight at Morgan Stanley
Oracle (ORCL) initiated with a Buy at B. Riley
PACCAR (PCAR) initiated with an Overweight at Morgan Stanley
PTC Inc. (PTC) initiated with a Buy at B. Riley
Ross Stores (ROST) initiated with an Outperform at Wedbush
SAP (SAP) initiated with a Neutral at B. Riley
TIBCO (TIBX) initiated with a Buy at B. Riley
TJX (TJX) initiated with a Neutral at Wedbush
The Buckle (BKE) initiated with a Neutral at Wedbush
Trevena (TRVN) initiated with a Buy at Needham
Urban Outfitters (URBN) initiated with an Outperform at Wedbush
Veeco (VECO) coverage resumed with a Neutral at Piper Jaffray
WABCO (WBC) initiated with an Equal Weight at Morgan Stanley
Wabash (WNC) initiated with an Underweight at Morgan Stanley
Zumiez (ZUMZ) initiated with a Neutral at Wedbush
COMPANY NEWS
Williams Partners (WPZ) to acquire Williams' (WMB) Canadian assets for $1.2B, sees assets immediately accretive
J.C. Penney (JCP) said the SEC was not recommending action its liquidity, cash position and debt and equity financing, as well as the company’s underwritten public offering of common stock last September
J.C. Penney (JCP) forecast FY14 SSS up mid-single digits, Q1 SSS up 3%-5%
Tesla (TSLA) announced a $1.6B convertible note offering and outlined plans for its Gigafactory
Sinovac Biotech (SVA) said its Phase III trial of its EV71 vaccine showed efficacy against hand, foot and mouth disease
IDC: Gamers spent four times as much on Google Play (GOOG) games in Q4 vs. year ago
Nordstrom (JWN) boosted dividend 10% to 33c per share
Riverbed (RVBD) board of directors member Satya Nadella stepped down to more fully devote time to his new position as Microsoft (MSFT) CEO
Bayer (BAYRY) to acquire Dihon Pharmaceutical Group in China
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
TRI Pointe Homes (TPH), Orion Marine (ORN), Assured Guaranty (AGO), Great Plains Energy (GXP), L Brands (LB), BioMarin (BMRN), Kennedy Wilson (KW), DCP Midstream (DPM), Autodesk (ADSK), Safe Bulkers (SB), Nutrisystem (NTRI), J.C. Penney (JCP)
Companies that missed consensus earnings expectations include:
Hilton (HLT), Sears (SHLD), PetroQuest (PQ), Delek US (DK), American Water (AWK), Vanguard Natural (VNR), BioScrip (BIOS), Southwest Gas (SWX), Churchill Downs (CHDN), Darling (DAR), Baidu (BIDU), Babcock & Wilcox (BWC), Halcon Resources (HK), TiVo (TIVO)
Companies that matched consensus earnings expectations include:
Republic Airways (RJET), Transocean (RIG), Aegean Marine (ANW), ICF International (ICFI), STAAR Surgical (STAA)
NEWSPAPERS/WEBSITES
Market research firm IDC predicts global smartphone growth will fall sharply this year, Reuters reports
Blackstone (BX) near deal for Versace stake, FT reports
Verizon (VZ) investigating additional retail breaches, WSJ reports
Royal Bank of Scotland (RBS) CEO Ross McEwan says the bank is not yet strong enough for any profitable U.K. sale, NY Times reports
Credit Suisse (CS): Tax evasion limited to a few employees, WSJ reports
Baidu (BIDU) CEO: More acquisitions coming, Reuters reports
FDA eases worries regarding certain diabetes medications (MRK, NVO, BMY), AP reports
J. Crew considering possible IPO this year, NY Post reports
Berkshire (BRK.A) expected to post record profit, Bloomberg reports
Solar (FSLR, SUNE, SCTY) brightens for investors, WSJ reports
SYNDICATE
Allete (ALE) 2.8M share Secondary priced at $49.75
Cesca Therapeutics (KOOL) files to sell 5.01M shares of common stock for holders
DCP Midstream (DPM) files to sell 12.5M common units representing limited partners
Lumenis (LMNS) 6.25M share IPO priced at $12.00
Neurocrine Biosciences (NBIX) 8M share Secondary priced at $17.75
Tesla (TSLA) announces $1.6B convertible notes offering
United Insurance (UIHC) files to sell $50M of common stock
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
SYMX Synthesis Energy ... 2.23 31.18%
PEIX Pacific Ethanol I... 11.80 30.68%
BIOF Biofuel Energy Co... 2.29 21.16%
JCP J.c. Penney Co. I... 7.18 20.47%
DANG E-commerce China ... 11.10 11.33%
BEAT Cardionet Inc. 10.86 10.25%
CTIC Cell Therapeutics... 3.80 8.26%
CSRE Csr Plc (cambridg... 51.11 7.69%
VE Veolia Environnem... 18.69 6.74%
WDAY Workday 106.51 6.21%
BBY Best Buy Co. Inc.... 27.40 6.12%
SHLD Sears Holdings Co... 42.75 5.82%
YINN Direxion Daily Ch... 22.90 5.14%
GERN Geron Corporation... 5.23 4.60%
XON Intrexon 27.50 4.05%
DRI Darden Restaurant... 52.00 4.00%
IQNT Inteliquent Inc 12.40 3.85%
BIDU Baidu Inc. Ads 179.50 3.82%
ARCP American Realty C... 14.90 3.76%
TSLA Tesla Motors Inc.... 262.30 3.68%
Top Losing Stocks
Price %Change
INO Inovio Pharmaceut... 3.42 -8.31%
RBS Royal Bank of Sco... 10.84 -7.59%
TSN Tyson Foods Inc. ... 37.17 -4.96%
DNKN Dunkin\' Brands G... 49.00 -4.50%
CYOU Changyou.com Limi... 27.05 -3.70%
CTRX Catamaran Corpora... 49.99 -3.51%
CIMT Cimatron Limited ... 8.40 -3.45%
EBR Eletrobras S/a Ad... 2.01 -3.37%
MU Micron Technology... 23.42 -3.30%
CNET Chinanet Online H... 2.12 -3.20%
MBT Mobile Telesystem... 16.74 -3.18%
CBRL Cracker Barrel Ol... 95.06 -2.96%
TSEM Tower Semiconduct... 6.94 -2.94%
EZCH Ezchip Semiconduc... 28.25 -2.82%
NBG National Bank of ... 4.79 -2.64%
MHG Marine Harvest As... 10.88 -2.51%
CY Cypress Semicondu... 10.00 -2.44%
MGIC Magic Software En... 9.39 -2.19%
ITMN Intermune Inc. 31.50 -2.11%
JKS Jinkosolar Holdin... 29.95 -2.09%
Read more at http://thestockmarketwatch.com/markets/pre-market/#P2ptSYjlpwruliTt.99
data:
Durable Goods Orders
[Report][Star]8:30 AM ET
Jobless Claims
[Report][Star]8:30 AM ET
Bloomberg Consumer Comfort Index
[Bullet9:45 AM ET
Janet Yellen Speaks
10:00 AM ET
EIA Natural Gas Report
[Bullet10:30 AM ET
Richard Fisher Speaks
10:30 AM ET
Kansas City Fed Manufacturing Index
[Report][Bullet11:00 AM ET
3-Month Bill Announcement
[Bullet11:00 AM ET
6-Month Bill Announcement
[Bullet11:00 AM ET
52-Week Bill Announcement
[Bullet11:00 AM ET
7-Yr Note Auction
[Bullet1:00 PM ET
Dennis Lockhart Speaks
3:15 PM ET
Fed Balance Sheet
[Bullet4:30 PM ET
Money Supply
[Bullet4:30 PM ET
futures -47
good morning
$WDAY ~ +$2,485 on e/r trade a/h
note...time on sell is when I put in the trade right after I bought...trade went through around 17:32
I have to get back to putting in my sell after I buy...!!!
because I'm messing up...see GOGO below:
$GOGO +$1,307
not bad, but held 3 days and had +$1.00 gain on 3k shares....!
nasty trading on my part!
Frontrunning:
California couple finds $10 million in buried treasure while walking dog (Reuters) ... not bitcoin?
Dimon Says Threats to JPMorgan Span Google to China Banks (BBG)
Stocks So Many Love to Hate Buoyed by Fed’s Jobs Priority (BBG)
White House Weighs Four Options for Revamping NSA Phone Surveillance (WSJ) ... to pick the fifth one
Credit Suisse Executives Weren’t Aware of U.S. Tax Dodges (BBG)
Militias Hunt Kiev Looters From Central Bank to Bling Palace (BBG)
Crisis Gauge Rises to Record High as Swaps Avoided (BBG)
Obama to Propose Highway-Repair Program (WSJ)
Ukraine Pledges to Protect Deposits as Kiev Rally Called (BBG)
Twinkies Bankruptcy Raises Specter of U.S. Pension Fund Failures (BBG)
U.S. warns banks to watch for ousted Ukraine leader moving looted funds (Reuters)
Investors Mount Attack on Norway in $20 Billion Oil, Gas Row (BBG)
Switzerland Shifting From Bankers to Bunkers in Data Push (BBG)
Obesity rates remain high, but stable in the U.S (Reuters)
Oveernight Media Digest
WSJ
* Administration lawyers have presented the White House with four options for restructuring the National Security Agency's phone-surveillance program, from ditching the controversial collection altogether to running it through the telephone companies, according to officials familiar with the discussions.
* The virtual currency bitcoin suffered the biggest setback in its five-year history after a major exchange shut down on Tuesday, stoking concern about the future of a digital form of money traded by professional investors and ordinary people, but regulated by no one.
* Bitcoin exchange Mt. Gox has received a subpoena from federal prosecutors in New York, according to a person familiar with the matter, dealing another blow to the embattled marketplace for buyers and sellers of the virtual currency.
* Two big banks, Morgan Stanley and Bank of America Corp, on Tuesday disclosed details of the continuing regulatory and legal challenges they face for their actions during the financial crisis.
* Credit Suisse Group AG went to great lengths to assist U.S. customers trying to open Swiss bank accounts and evade federal taxes, courting clients at a Swiss-themed ball in New York and golf tournaments in Florida and setting up a branch in the Zurich airport to assist Americans en route to ski vacations, a Senate report alleged Tuesday.
* Tesla Motors Inc shares hit a record high on Tuesday ahead of an expected announcement of a battery-production partnership in which the company would carve out a business making advanced batteries for itself and others. Panasonic Corp, now the primary battery supplier for Tesla's $71,000-and-up electric cars, is in talks about investing in a nearly $1 billion battery factory in the United States, according to Japanese business newspaper the Nikkei.
* When word got out that Procter & Gamble Co had allowed Amazon.com Inc to set up shop inside its warehouses, Amazon's bitter rival Target Corp reacted by retaliating against P&G, according to people familiar with the matter. Several months ago, the discount chain started to give some P&G products less-prominent placement in stores people in the industry said.
* The Pentagon has responded to concerns that defense cuts could harm the U.S. military-industrial base by proposing support that could aid two unlikely beneficiaries: General Electric Co and United Technologies Corp.
FT
UK Chancellor George Osborne is facing a push from Tory MPs to announce tax cuts in the upcoming budget in an attempt to protect the government's political position from a backlash from an interest rate hike by the Bank of England.
The European Commission has forecast a growth of 1.2 percent for the Eurozone's economy while cautioning on vulnerable members such as Italy and France.
Indian banks may be forced to stop offering retail services in the UK as regulatory compulsions proposed in a consultation paper by Bank of England's Prudential Regulation Authority would make it tough for banks to offer customer banking due to additional costs.
World's biggest chemical maker by sales, BASF is targeting investments in North America and emerging markets as it feels the heat of saturating markets in Europe hit by recession.
The chief executive of British banknote printer De La Rue Tim Cobbold has resigned to join marketing services company UBM, and will replace David Levin effective May 6.
NYT
* The apparent collapse of Bitcoin's best-known and once-dominant trading platform has provoked outrage among its users, but it has also stirred hopes that the way may now be clear for more established players to transform and rein in a largely unregulated market.
* U.S. orders tests on oil shipments as recent accidents have drawn attention to the risks of shipping large quantities of crude oil in unpressurized railcars.
* The proposal by the top Republican on the House Ways and Means Committee to overhaul and simplify the nation's tax code is already coming under scrutiny from fellow Republicans, with at least one party leader, Senator Mitch McConnell of Kentucky, saying the plan has no chance.
* Seventeen brokerage firms, including Citigroup, Goldman Sachs, JPMorgan Chase & Co and Merrill Lynch, have agreed to stop participating in money management surveys aimed at tapping into research analysts' changing views on companies before those opinions are publicly issued.
* A report by a Senate subcommittee said Swiss bank Credit Suisse helped customers hide assets from taxation by the United States, and also accused American law enforcement of dragging its feet.
* Bank of America said that it was facing new investigations related to its activities in foreign currency exchange markets as well as its handling of government-backed mortgages in the United States.
* Morgan Stanley has tentatively agreed to pay $275 million to resolve a federal securities investigation related to subprime mortgage bonds the investment firm underwrote in 2007.
* Steven Cohen, the billionaire hedge fund owner, is looking to hire a former prosecutor or securities regulator to monitor trading at his investment firm after the federal government's insider trading investigation.
* Standard & Poor's is seeking information about certain meetings between President Obama and Timothy Geithner in 2011, hoping the details will help show that a lawsuit filed by the government in 2013 against the company was done in retaliation for a ratings downgrade of American debt.
* Hedge fund Elliott Management raised its bid for Riverbed Technology on Tuesday and continued to criticize the networking equipment company for failing to begin a process to sell itself.
Canada
THE GLOBE AND MAIL
* The debate over the proposed overhaul of Canada's elections laws will be confined to Parliament Hill, as the governing Conservatives and opposition New Democrats continue to spar over the changes.
* Ottawa's auction of the 700-megahertz frequency sparked such a frenzy among wireless carriers that during some rounds, they placed bids totaling more than C$7 billion ($6.32 billion).
Reports in the business section:
* The federal government's plan to sign a free-trade agreement with South Korea has won the support of the Japanese Automobile Manufacturers Association of Canada.
* Tim Hortons Inc is planning a big expansion, some of it in smaller spaces. The company said on Tuesday that it would open 800 restaurants in North America - 500 of those in Canada - and 220 in the Middle East as it targets compound annual profit-per-share growth of 11-13 percent in the next five years.
NATIONAL POST
* Politicians have been trying to make the middle class out to be a poor huddled mass of declining fortunes, but Statistics Canada paints a different picture. The study, released on Tuesday, shows the median net worth of Canadian families jumped 44.5 percent to $243,800 in 2012, up from $168,700 in 2005. Over the past 15 years, the median net worth figure leaps 80 percent.
* Prime Minister Stephen Harper is hinting that the key Conservative campaign plank from the 2011 federal election that earned him a majority might not be pitched overboard after all. Income-splitting for couples with children under 18 was a $2.5-billion pledge during the last election - a Conservative promise that would kick in as soon as the government balanced the federal budget.
FINANCIAL POST
* Chief Executive John Chen is hoping that moving one step back will help BlackBerry Ltd take two steps winning back customers. Since taking over the embattled Waterloo, Ontario-based smartphone maker in November, Chen has made it clear the company must return to its roots if it hopes to restore its fortunes and rebound to profitability.
* Canadian shippers are bracing on Wednesday for a work stoppage at the Port Metro Vancouver by truck drivers protesting what they claim are long lineups, wait times and other "unfair" practices at the country's busiest port
China
SHANGHAI SECURITIES NEWS
- The Securities Association of China has published rules that would require Chinese brokerages strengthen their risk management.
SECURITIES TIMES
- Singaporean developer CapitaLand Ltd plans to build 100 shopping centres in China over the next 3-5 years.
- China's electronics manufacturer, TCL Corp, said it would fully embrace Internet and mobile technologies, aiming to boost the company's market value to over 100 billion yuan in five years, from around 23 billion yuan now.
PEOPLE'S DAILY
- China President Xi Jinping has called on the nation to promote and embrace the core value of socialism.
Britain
The Telegraph
BRITAIN'S GROWTH PROSPECTS UPGRADED BY EUROPEAN COMMISSION
The European Commission expects Britain to grow by 2.5 percent in 2014, compared with a forecast of 2.2 percent in November. Its forecast for 2015 was unchanged at 2.4 percent.
DIXONS AND CARPHONE MERGER COULD FACE COMPETITION INVESTIGATION
A potential merger between Dixons and Carphone Warehouse is likely to face an investigation by Britain's competition authorities, analysts have warned.
The Guardian
LONDON'S BUY-TO-LET RENTS DOUBLE THAT OF REST OF UK, SAYS LENDER
Landlords taking on new buy-to-let properties in London are charging twice as much rent as those in the rest of the country, according to data from one of Britain's biggest buy-to-let lenders, BM Solutions.
ROYAL MAIL: COALITION ACCUSED OVER 'POLITICAL' FLOTATION
The government faced fresh accusations of short-changing the taxpayer over the Royal Mail float on Tuesday after it was revealed that bankers valued the company at up to 8.6 billion pounds when approached months before the float went ahead.
The Times
TESCO UNDERCUT BY ASDA AS IT STARTS HIGH-STREET PRICE WAR
The opening salvo in a supermarket price war was fired by Tesco as it announced a multimillion pound investment in price cuts. Britain's biggest supermarket said it would spend more than 200 million pounds lowering prices.
COBHAM REPORTS "IRREGULAR" SALES OF SPY-TRACKING KIT
Cobham is under investigation by the U.S. Department of Justice over sales of its satellite tracking devices used by spies, emergency services, mining enterprises and oil and gas companies around the world.
Sky News
RBS REACHES DEAL TO AWARD £550M BONUS POT
Royal Bank of Scotland is to pay approximately 550 million pounds for 2013 after securing the agreement of the Treasury agency that is its biggest shareholder.
BOOHOO LURES EX-ASOS DIRECTOR FOR 500 MLN STG IPO
A former director of the online fashion retailer Asos is to become chairman of rival Boohoo.com as it finalises plans for a stock market flotation valuing it at 500 million pounds.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
New home sales for January at 10:00--consensus down 3.4% m/m to 400K
ANALYST RESEARCH
Upgrades
Bristow Group (BRS) upgraded to Overweight from Equal Weight at Barclays
Exterran Partners (EXLP) upgraded to Outperform from Neutral at Credit Suisse
Felcor Lodging (FCH) upgraded to Outperform from Market Perform at JMP Securities
Kroger (KR) upgraded to Overweight from Neutral at JPMorgan
LinkedIn (LNKD) upgraded to Outperform from Sector Perform at RBC Capital
Masco (MAS) upgraded to Hold from Underweight at KeyBanc
Ralph Lauren (RL) upgraded to Outperform from Market Perform at Wells Fargo
SciQuest (SQI) upgraded to Buy from Hold at Canaccord
Teradata (TDC) upgraded to Buy from Neutral at Longbow
Downgrades
DiamondRock (DRH) downgraded to Neutral from Buy at ISI Group
Dynamic Materials (BOOM) downgraded to Neutral from Overweight at JPMorgan
Fresenius Medical (FMS) downgraded to Neutral from Buy at UBS
Humana (HUM) downgraded to Sell from Neutral at Citigroup
Jazz Pharmaceuticals (JAZZ) downgraded to Hold from Buy at Cantor
Juniper (JNPR) downgraded to Neutral from Overweight at Piper Jaffray
NII Holdings (NIHD) downgraded to Neutral from Outperform at Macquarie
Phillips 66 Partners (PSXP) downgraded to Neutral from Outperform at Credit Suisse
Safeway (SWY) downgraded to Neutral from Overweight at JPMorgan
Toll Brothers (TOL) downgraded to Market Perform from Outperform at Keefe Bruyette
Valero Energy Partners (VLP) downgraded to Neutral from Outperform at Credit Suisse
Volaris (VLRS) downgraded to Hold from Buy at Deutsche Bank
Vornado (VNO) downgraded to In-Line from Outperform at Imperial Capital
Initiations
Atlas Pipeline Partners (APL) initiated with a Hold at Deutsche Bank
CHC Group (HELI) initiated with a Buy at UBS
CHC Group (HELI) initiated with a Sector Perform at RBC Capital
EP Energy (EPE) initiated with a Buy at Deutsche Bank
EP Energy (EPE) initiated with a Buy at Goldman
EP Energy (EPE) initiated with an Outperform at Credit Suisse
EP Energy (EPE) initiated with an Outperform at Wells Fargo
EP Energy (EPE) initiated with an Overweight at JPMorgan
Intevac (IVAC) initiated with a Neutral at B. Riley
Kulicke & Soffa (KLIC) initiated with a Buy at B. Riley
La Jolla Pharmaceutical (LJPC) initiated with an Outperform at Wedbush
Nutraceutical (NUTR) initiated with an Outperform at Imperial Capital
Randgold Resources (GOLD) initiated with a Buy at UBS
Rudolph Technologies (RTEC) initiated with a Buy at B. Riley
Trevena (TRVN) initiated with an Outperform at JMP Securities
Trevena (TRVN) initiated with an Overweight at Barclays
COMPANY NEWS
GE (GE) to pay Shinsei $1.7B for refunds of interest
Bank of America (BAC) disclosed forex, FHFA probes
T. Rowe Price (TROW) opposes American Financial (AFG) tender offer for National Interstate (NATL)
General Motors (GM) expanded ignition recall to nearly 1.4M vehicles in U.S.
Lowe's (LOW) board authorized repurchase of additional $5B in company stock
Anika Therapeutics (ANIK) announced that its Monovisc injection supplement to treat pain and improve joint mobility in patients suffering from osteoarthritis of the knee received FDA approval
Weatherford (WFT) said identified 6,192 positions for workforce reduction
Yandex (YNDX) announced advertising partnership with Google (GOOG)
Superior Energy (SPN) to pursue strategic alternatives for Asia Pacific-based unit
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
AB InBev (BUD), Ormat Technologies (ORA), Range Resources (RRC), Solar Capital (SLRC), HEICO (HEI), Alleghany (Y), Big 5 Sporting (BGFV), Huron (HURN), R.R. Donnelley (RRD), Questcor (QCOR), Chicago Bridge & Iron (CBI), Edison International (EIX)
Companies that missed consensus earnings expectations include:
Sturm, Ruger (RGR), Forest Oil (FST), Nordson (NDSN), Newfield Exploration (NFX), CoreLogic (CLGX), Superior Energy (SPN), EXCO Resources (XCO), Jazz Pharmaceuticals (JAZZ), Boston Beer (SAM), QEP Resources (QEP), Cerus (CERS), First Solar (FSLR), Culp (CFI)
Companies that matched consensus earnings expectations include:
Lowe's (LOW), Papa John's (PZZA), Weatherford (WFT), Dycom (DY), Demand Media (DMD)
NEWSPAPERS/WEBSITES
Carlyle Group (CG) near deal for Tyco (TYC) unit, WSJ reports
Vodafone's (VOD) European cable pursuits make AT&T (T) deal less likely, WSJ reports
Buffett (BRK.A) to modify Bank of America (BAC) investment terms, FT reports
BlackBerry (BBRY) CEO says he would accept $19B for BBM, CNBC reports
Aeropostale (ARO) working with Barclays (BCS) to explore options, Bloomberg reports
Target (TGT) retaliates against P&G (PG) after Amazon deal (AMZN), WSJ reports
Google Glass (GOOG) faces possible driving ban from some states, Bloomberg reports
Monsanto (MON) at epicenter of intensifying food debate, FT reports
Numerous Wall Street firms (JPM, GS) agree to stop analyst previews, Bloomberg reports
Royal Bank of Scotland (RBS) to pay GBP550M in staff bonuses for 2013, report FY13 loss, Sky News reports
Apple (AAPL) issues fixes for security flaw on Macintosh computers, Reuters reports
SYNDICATE
Allete (ALE) files to sell 2.5M shares of common stock
Infinity Pharmaceuticals (INFI) files to sell 1M common shares for holders
Neurocrine (NBIX) files to sell 7M shares of common stock
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
ANIK Anika Therapeutic... 48.00 39.25%
LJPC LA Jolla Pharma 9.75 28.29%
TASR Taser Internation... 22.00 15.18%
PLUG Plug Power Inc. 4.42 13.33%
EXAM Examworks Group 34.02 11.18%
CBAK China Bak Battery... 2.54 8.55%
ARO Aeropostale Inc. ... 7.45 7.35%
PRAN Prana Biotechnolo... 10.00 6.84%
ANF Abercrombie & Fit... 38.24 6.25%
STV China Digital TV ... 3.60 5.88%
FENG Phoenix New Media... 11.98 5.55%
OPTT Ocean Power Techn... 4.15 5.46%
SUNE Sunedison 17.80 4.83%
OVTI Omnivision Techno... 16.00 4.78%
VVUS Vivus Inc. 6.09 3.92%
TSLA Tesla Motors Inc.... 257.59 3.87%
DRNA Durina Inc 45.00 3.69%
SNP China Petroleum &... 85.10 3.68%
YNDX Yandex N.v. 37.50 3.59%
FEYE Fireeye Inc 82.80 3.50%
Top Losing Stocks
Price %Change
LITB Lightinthebox Hol... 8.70 -15.37%
SEAC Seachange Interna... 10.32 -14.64%
FSLR First Solar Inc. ... 50.55 -12.89%
DWA Dreamworks Animat... 31.57 -10.31%
VLRS Volaris Aviation ... 10.42 -8.52%
JAZZ Jazz Pharmaceutic... 167.25 -4.42%
TSL Trina Solar Ltd. ... 14.37 -4.07%
QCOR Questcor Pharmace... 75.50 -4.01%
BLDP Ballard Power Sys... 2.82 -3.75%
DLTR Dollar Tree Inc. ... 50.85 -3.47%
JASO JA Solar Holdings... 10.31 -3.19%
HK Halcon Resources ... 4.01 -2.43%
LIVE Livedeal Inc. 8.17 -2.39%
EDZ Direxion Daily Em... 45.92 -2.09%
BWP Boardwalk Pipelin... 12.24 -2.08%
SIG Signet Jewelers 93.51 -1.97%
ITMN Intermune Inc. 37.06 -1.96%
UNG United States Nat... 25.33 -1.82%
HMY Harmony Gold Mini... 3.28 -1.80%
NVO Novo Nordisk A/s ... 47.40 -1.72%
Read more at http://thestockmarketwatch.com/markets/pre-market/#s64LyBSYkHUvDpXq.99
data:
MBA Purchase Applications
[Report][Bullet7:00 AM ET
New Home Sales
[Report][Star]10:00 AM ET
EIA Petroleum Status Report
[djStar]10:30 AM ET
2-Yr FRN Auction
[Bullet11:30 AM ET
Eric Rosengren Speaks
12:00 PM ET
5-Yr Note Auction
[Bullet1:00 PM ET
Sandra Pianalto Speaks
7:30 PM ET
Futures +17
good morning
Frontrunning:
Turkish PM says tapes of talk with son a fabrication (Reuters) but opposition confirms authenticity, and national TV carriers cut parliament when played live
Inside the Showdown Atop Pimco, the World's Biggest Bond Firm (WSJ)
Ex-Jefferies Trader’s Customers Say Lies Common Tactic (BBG)
Bitcoin exchange Mt. Gox disappears in blow to virtual currency (Reuters)
The messenger mania is spreading: SoftBank Said to Seek Stake in Naver’s Line Messaging Unit (BBG)
Ukraine Replaces Central Bank Head (BBG)
Yup, an actual headline: Harsh weather tests optimism over U.S. economy (Reuters)
Hiring of Law Grads Improves for Some (BBG)
Easy Currency Bet Gets Harder as the Chinese Yuan Tumbles (WSJ)
In Ukraine turbulence, a lad from Lviv becomes the toast of Kiev (Reuters)
Buffett Warns of Liquidity Curse, Celebrates Property Bet (BBG)
MGM Envisions Spending Up to $10 Billion on Japanese Casino (BBG)
'Pony' botnet steals bitcoins, digital currencies (Reuters)
Overnight Media Digest
WSJ
* Activist investor Carl Icahn stepped up his attack on eBay Inc on Monday, accusing the online retailer of overlooking conflicts of interest on its board in what amounts to a broadside against a common practice in Silicon Valley.
* Bernard Madoff's longtime secretary took the stand in her own defense Monday in Manhattan federal court, testifying she viewed the disgraced financier as her "big brother" and trusted him so implicitly that she never questioned any of his instructions.
* The chief executives of six major bitcoin exchanges and businesses pledged a coordinated efforts to assure customers of the security of their funds in response to mounting concern about the future of Japan-based exchange Mt. Gox.
* The website of embattled bitcoin exchange platform Mt. Gox was unavailable Tuesday and appeared to have been deleted.
* China is projecting fresh increases this year in steelmaking volume and iron-ore imports, underlining the sector's cautiously optimistic outlook on the country's economy as well as the difficulty in retrenching the industry.
* Ousted Ukrainian President Viktor Yanukovych was on the run Monday from a new government, which issued an arrest warrant for him on allegations of ordering the "mass murder" of protesters on the streets of Kiev last week.
* Under pressure from regulators, several auto makers are preparing to roll out emissions-free cars powered by hydrogen fuel cells instead of gasoline engines.
* Sina Corp is aiming to raise roughly $500 million in a second-quarter U.S. initial public offering of the Twitter-like service, according to two people with direct knowledge of the deal.
FT
The European Union is expected to lay out tough rules on car emissions in an agreement that would require carmakers to reduce emissions by about 30 percent by 2021.
Telenor chief Jon Fredrik Baksaas told telecom leaders at the Mobile World Congress that mobile network operators will need to pump in $1,700 billion by 2020 to meet the growing need of consumers.
Brussels has initiated a preliminary probe into the possible breach of state aid rules by the UK when it guaranteed a 75 million pound-loan to Drax Group, operator of Britain's biggest power station.
HSBC Chief Executive Stuart Gulliver's base salary increased by a 1.7 million pound "fixed pay allowance" with his 2014 bonus being capped to a percentage of his fixed pay in line with an EU rule.
Hans-Jörg Rudloff, regarded as the father of the eurobond market, is set to retire as the chairman of Barclay's investment bank after serving about 16 years at the bank.
NYT
* The most prominent Bitcoin exchange Mt. Gox appeared to be on the verge of collapse late Monday, raising questions about the future of a volatile marketplace.
* The steel industry is feeling stress as automakers turn to aluminum, and are responding by producing lighter, stronger steel in a bid to retain one of their most important customers Ford Motor Co.
* Tax season doesn't usually stir up emotions about the meaning of family and equal rights. But this year is different for the tens of thousands of same-sex married couples who, for the first time, will be required to file federal income tax returns that reflect their married status. Whether couples ultimately owe more in taxes or receive big refunds, for many of them, it will provide a long-awaited sense of validation.
* The Justice Department in Washington and the Serious Fraud Office in London have agreed to divide up cases against employees at the center of an investigation into the manipulation of the global interest rate benchmark used for mortgages, credit cards and corporate loans known as the London interbank offered rate, or Libor, according to people briefed on the matter.
* Sina Corp, one of China's biggest Internet portals, is preparing an initial public offering in the United States for Weibo, its Twitter-like microblogging service, according to people close to the matter.
* Alphonse Fletcher Jr., a flashy hedge fund manager, has been accused of running something akin to a Ponzi scheme, and the pension systems that say he misled them are hoping to get their money back.
* Stocks rose on Monday and the Standard & Poor's 500-stock index hit a nominal intraday high, helped by gains in health insurers' shares and optimism about mergers. ()
Canada
THE GLOBE AND MAIL
* Finance Minister Jim Flaherty said in an interview that Canada's unemployment rate is too high and his government would try and do better at getting Canadians working again as part of commitments made by the Group of 20 countries at a summit over the weekend.
* Some of Quebec's fine dining establishments will soon feature meats more commonly associated with bygone rural life after the province agreed to allow some of its most famous chefs to buy and sell hunted wild game.
Reports in the business section:
* Sun Life Financial Inc will move out of the Toronto tower that has been its head office for 30 years, a sign of what many real estate experts say is the slow migration of Canada's biggest financial district.
* U.S. President Barack Obama has signaled he will make a decision about the long-delayed Keystone XL pipeline before summer, allaying concerns that the administration would punt the controversial decision until after mid-term congressional elections in November.
NATIONAL POST
* Paul Godfrey, president and chief executive of Postmedia Network Canada Corp, is one of three new co-chairs of the Ontario Progressive Conservative party's Toronto Leader's Dinner.
* Under a directive imposed at the start of this influenza season, visitors to all British Columbia hospitals and long-term care facilities must don a mask if they have not been immunized. At least three hospitals in Ontario have implemented similar policies.
FINANCIAL POST
* BlackBerry Ltd appears poised to snatch Ford Motor Co's in-car mobile technology business from Microsoft Corp , highlighting a unit where the Canadian company is the world leader, not playing catch up.
* National Bank of Canada, the country's sixth-largest lender, said on Monday that its first-quarter profit rose 9 percent, driven by stronger wealth management and financial markets income.
China
CHINA SECURITIES JOURNAL
- The Ministry of Commerce said trade in 2014 could be moderately positive, with a possibility of abrupt fluctuation in February as well as the second quarter, driven by seasonal factors.
- The Ministry of Land and Resources said it would push forward rural land acquisition reform at the local level, aiming at narrowing down the scope of acquisition, standardizing procedures and improving living qualities of farmers.
CHINA BUSINESS NEWS
- Real estate industry analysts predicted the performance of China's housing market would diverge in 2014, with firm demand in China's first-line cities including Beijing, Shanghai and Guangzhou, steady price trends in second-tier cities, but downward risks in smaller cities.
SECURITIES TIMES
- The CSRC said it would provide supportive policies for Shenzhen's innovation in finance to accelerate the development of multi-tiered capital markets.
CHINA DAILY
-- China is optimistic that a recent visit by a senior Vietnam official will help maintain stability in the disputed South China Sea thanks to "breakthrough" agreements on handling territorial disputes, but the article warned about "external forces" that would try to sabotage the relationship.
PEOPLE'S DAILY
-- Japan's undisguised efforts to whitewash its war history are preventing it from becoming a normal country and participating in the system of international relations, said an editorial in this mouthpiece of the Chinese Communist Party.
Britain
The Telegraph
TESCO BRAND HAS 'BAGGAGE', ADMITS CHIEF EXECUTIVE PHILIP CLARKE
The Tesco boss will on Tuesday unveil a refreshed strategy for the UK and is expected to sacrifice the company's industry-leading profit margin of 5.2 percent.
BRITAIN MUST BUILD 'SPECIAL RELATIONSHIP' WITH CHINA, SAYS MICHAEL FALLON
Britain must forge an alliance with China that is as strong as its "special relationship" with the U.S. or it could miss out on the developing nation's huge consumer boom, according to the minister for business and enterprise.
NORTH SEA OIL INDUSTRY NEEDS 'URGENT' GOVERNMENT HELP AS EXPLORATION SLUMPS TO ALL-TIME LOW
North Sea oil exploration is at a "worrying" all-time low and needs urgent government action such as tax breaks to stimulate drilling, Sir Ian Wood has warned.
The Guardian
HSBC HANDS ALLOWANCES TO HUNDREDS OF BANKERS TO AVOID EU BONUS CAP
A defiant HSBC is handing its Chief Executive Stuart Gulliver allowances worth 32,000 pound a week - on top of his 1.2 million pound salary - to get around the EU's cap on bonuses, in a move that is expected to be replicated by the other high street banks.
TESCO IN TALKS OVER STRUGGLING TURKISH BUSINESS
Tesco has confirmed it is in talks with several companies over a possible restructuring of its struggling business in Turkey. Last October, Tesco said its business in eastern Turkey could be restructured, but it would not exit the country.
The Times
HUNDREDS OF SHOPS FACE AXE IN 3.4 BLN STG DIXONS MERGER
Landlords fear that hundreds of stores could close if Dixons and Carphone Warehouse merge - a deal that would create a FTSE 100 company worth more than 3.4 billion pounds.
HEATHROW WORKERS LOSE JOBS AFTER AIRPORT'S LANDING FEES DEFEAT
Heathrow revealed that it had begun a 22 million pound restructuring that will involve reducing the 1,000-strong workforce of its central organisation by a fifth.
Sky News
NAMES EMERGE FOR RBS JOB AS REVAMP LOOMS
Sir Sandie Crombie and Brendan Nelson, who sit on the taxpayer-backed lender's board as non-executive directors, are being discussed as possible successors to Sir Philip Hampton.
BANK LEVY DAMAGING CITY, BBA WARNS OSBORNE
The UK government's bank levy undermines both its own desire for a stable tax regime and the City's status as a leading financial centre, the industry's main lobbying group has warned George Osborne.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
December Case-Shiller 20-city home price index at 9:00--consensus up 13.4% y/y
February consumer confidence at 10:00--consensus 80.1
February Richmond Fed manufacturing index at 10:00--consensus 5
ANALYST RESEARCH
Upgrades
Consolidated Edison (ED) upgraded to Overweight from Equal Weight at Barclays
Golden Star Resources (GSS) upgraded to Hold from Sell at Canaccord
Kindred Biosciences (KIN) upgraded to Outperform from Market Perform at BMO Capital
Kinross Gold (KGC) upgraded to Buy from Hold at Canaccord
Nordson (NDSN) upgraded to Outperform from Perform at Oppenheimer
Peoples Bancorp (PEBO) upgraded to Strong Buy from Outperform at Raymond James
TriQuint (TQNT) upgraded to Buy from Hold at Brean Capital
Washington REIT (WRE) upgraded to Buy from Hold at Stifel
Downgrades
Ameren (AEE) downgraded to Equal Weight from Overweight at Barclays
Basic Energy (BAS) downgraded to Underperform from Hold at Jefferies
Einstein Noah (BAGL) downgraded to Neutral from Overweight at Piper Jaffray
FirstService (FSRV) downgraded to Market Perform from Outperform at JMP Securities
Greenbrier (GBX) downgraded to Hold from Buy at Stifel
HSBC (HSBC) downgraded to Neutral from Buy at Citigroup
MarkWest Energy (MWE) downgraded to Hold from Buy at Jefferies
Pan American Silver (PAAS) downgraded to Sell from Neutral at Goldman
RF Micro Devices (RFMD) downgraded to Hold from Buy at Canaccord
RealPage (RP) downgraded to Sector Perform from Outperform at RBC Capital
Royal Gold (RGLD) downgraded to Sector Performer from Outperformer at CIBC
VIVUS (VVUS) downgraded to Neutral from Overweight at JPMorgan
VIVUS (VVUS) downgraded to Underperform from Neutral at BofA/Merrill
Initiations
Adobe (ADBE) initiated with a Positive at Susquehanna
Alaska Air (ALK) initiated with a Buy at Stifel
Allegiant Travel (ALGT) initiated with a Buy at Stifel
Avago (AVGO) initiated with an Outperform at Raymond James
Cara Therapeutics (CARA) initiated with an Overweight at Piper Jaffray
Datawatch (DWCH) initiated with an Outperform at William Blair
Delta Air Lines (DAL) initiated with a Buy at Stifel
Hawaiian Holdings (HA) initiated with a Hold at Stifel
Infoblox (BLOX) initiated with a Buy at Deutsche Bank
Intrawest Resorts (SNOW) initiated with a Buy at KeyBanc
Intrawest Resorts (SNOW) initiated with a Hold at Deutsche Bank
Intrawest Resorts (SNOW) initiated with a Neutral at Goldman
Intrawest Resorts (SNOW) initiated with an Outperform at Credit Suisse
Intrawest Resorts (SNOW) initiated with an Outperform at JMP Securities
Malibu Boats (MBUU) initiated with an Outperform at Wells Fargo
New Residential (NRZ) initiated with a Buy at Citigroup
Ocwen Financial (OCN) initiated with a Buy at Citigroup
Procera Networks (PKT) initiated with a Sell at Deutsche Bank
Southwest (LUV) initiated with a Hold at Stifel
Spirit Airlines (SAVE) initiated with a Buy at Stifel
The New Home Company (NWHM) initiated with a Buy at Citigroup
The New Home Company (NWHM) initiated with an Outperform at Credit Suisse
The New Home Company (NWHM) initiated with an Overweight at JPMorgan
Ultragenyx (RARE) initiated with an Overweight at JPMorgan
United Continental (UAL) initiated with a Buy at Stifel
COMPANY NEWS
Home Depot (HD) increased dividend by 21% to 47c
Office Depot (ODP) sees total annual run-rate cost synergies of over $600M by end of 2016
Minerals Technologies (MTX) increased offer to acquire AMCOL (ACO) to $42.50 per share
Dara BioSciences (DARA) treatment for peripheral neuropathy received FDA orphan designation
XOMA's (XOMA) gevokizumab granted FDA orphan status
Perry Ellis (PERY) Q4 results impacted by inclement weather
PayPal (EBAY) to support Samsung's (SSNLF) mobile fingerprint authentication technology
Qualcomm (QCOM) said Samsung (SSNLF) Galaxy S5 features Snapdragon chips
AT&T (T), IBM (IBM) announced network security relationship
Pactera (PACT): ISS, Glass Lewis recommend going private transaction (BX)
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Home Depot (HD), Toll Brothers (TOL), GulfMark Offshore (GLF), Chemtura (CHMT), EOG Resources (EOG), Ferro (FOE), Rosetta Resources (ROSE), StarTek (SRT), Haverty Furniture (HVT), Tenet (THC), SINA (SINA), Live Nation (LYV), Polypore (PPO), Tutor Perini (TPC), Stifel Financial (SF), Frontier Communications (FTR), VIVUS (VVUS)
Companies that missed consensus earnings expectations include:
Integra LifeSciences (IART), Office Depot (ODP), Seadrill (SDRL), PRGX Global (PRGX), Tredegar (TG), RealPage (RP), XPO Logistics (XPO), Stone Energy (SGY)
Companies that matched consensus earnings expectations include:
Hackett Group (HCKT), Retail Opportunity Investments (roic), Nautilus (NLS)
NEWSPAPERS/WEBSITES
JPMorgan (JPM) planning to cut 'several thousand' jobs in mortgage business, FT reports
Verizon (VZ) and AT&T (T) also in talks with Netflix (NFLX) to connect networks, Mashable reports
U.K. expected to make it easier for foreign banks (C, UBS, JPM) to open branches, WSJ reports
Target's (TGT) Canadian business has been disappointing, NY Times reports
Several analysts expect Target (TGT) to slash its share buybacks as it deals with costs tied to data breach, Reuters reports
Orange (ORAN), Microsoft (MSFT) in talks for Dailymotion partnership, WSJ reports
BlackBerry's (BBRY) design head the latest to leave company, WSJ reports
Senate report to reprimand Credit Suisse (CS) for helping tax dodgers, Bloomberg reports
LinkedIn (LNKD) expands in China, dealing with censorship, WSJ reports
WhatsApp (FB) won't generate significant revenue anytime soon, Re/code reports
SYNDICATE
Allison Transmission (ALSN) files to sell 25M shares of common for holders
Apollo Investment (AINV) files to sell 12M shares of common stock
Tornier (TRNX) files to sell 5.12M ordinary shares for holders
Average:
0
Your rating: None
Pre Market Movers
Top Gaining Stocks
Price %Change
DARA Dara Biosciences ... 3.70 47.41%
ZU zulily inc 48.00 12.04%
SCON Superconductor Te... 2.85 9.62%
VSI Vitamin Shoppe 45.00 7.22%
NWBO Northwest Biother... 7.37 6.35%
CARA Cara Therapeutics... 15.40 6.35%
TKMR Tekmira Pharmaceu... 23.00 6.33%
CLDN Celladon Corp 10.01 5.37%
XOMA Xoma Corporation ... 9.31 5.20%
CRH Crh Plc Ads 29.47 5.14%
TSLA Tesla Motors Inc.... 228.60 5.03%
EDE Empire District E... 24.90 4.62%
JDST Direxion Daily Ju... 17.39 4.26%
BCRX Biocryst Pharmace... 12.01 3.45%
ICN Wisdomtree Indian... 21.04 3.44%
BBRY Research in Motio... 10.16 3.36%
KNDI Kandi Technologie... 16.07 3.28%
SRPT Sarepta Therapeut... 31.00 3.18%
PDCE Pdc Energy Inc. 62.66 2.97%
NVO Novo Nordisk A/s ... 47.16 2.92%
Top Losing Stocks
Price %Change
VVUS Vivus Inc. 6.00 -11.11%
ODP Office Depot Inc.... 4.95 -7.48%
FMS Fresenius Medical... 33.67 -7.19%
SDRL Seadrill Ltd. 35.11 -6.82%
AIXG Aixtron SE 15.77 -6.41%
LIVE Livedeal Inc. 7.70 -6.21%
AVB Avalonbay Communi... 122.56 -5.15%
CREE Cree Inc. 58.00 -5.01%
ANV Allied Nevada Gol... 5.51 -5.00%
CCIH Chinacache Intern... 21.50 -4.74%
AINV Apollo Investment... 8.73 -4.59%
RFMD RF Micro Devices ... 6.75 -3.98%
JNUG Direxion Daily Ju... 36.49 -3.87%
PAAS Pan American Silv... 14.69 -3.48%
YINN Direxion Daily Ch... 22.00 -2.96%
SCTY Solarcity Corpora... 76.25 -2.93%
MGIC Magic Software En... 8.89 -2.74%
DXM Dex Media Inc. 7.30 -2.67%
TUR ishares Msci Turk... 42.80 -2.64%
HPQ Hewlett-packard C... 29.15 -2.57%
Read more at http://thestockmarketwatch.com/markets/pre-market/#uRouKSmjK6ihKx4M.99
data:
ICSC-Goldman Store Sales
[Report][Bullet7:45 AM ET
Redbook
[Bullet8:55 AM ET
FHFA House Price Index
[Report][Bullet9:00 AM ET
S&P Case-Shiller HPI
[Report][djStar]9:00 AM ET
Consumer Confidence
[Report][djStar]10:00 AM ET
Richmond Fed Manufacturing Index
[Report][Bullet10:00 AM ET
State Street Investor Confidence Index
[Bullet10:00 AM ET
Daniel Tarullo Speaks
10:10 AM ET
4-Week Bill Auction
[Bullet11:30 AM ET
2-Yr Note Auction
[Bullet1:00 PM ET
Futures -21
good morning
Frontrunning:
Ukraine Seeks $35 Billion as Yanukovych Warrant Is Issued (BBG)
Ukraine's fugitive president wanted for mass murder (Reuters)
Polar Vortex to Bring More Snow on Return to U.S. This Week (BBG)
China property prices continue to rise (FT)
Microsoft Said to Cut Windows Price 70% to Counter Rivals (BBG)
Pentagon to propose shrinking Army, scrapping some jets (Reuters)
Hedge Funds Turn Bearish on S&P 500 as VIX Advances (BBG)
Draghi’s Data Jigsaw Takes Shape as ECB Readies Showdown (BBG)
China, eyeing Japan, seeks WW2 focus for Xi during Germany visit (Reuters)
U.S. now bugging German ministers in place of Merkel (Reuters)
Emerging Stocks Decline With Copper as Natural Gas Surges (BBG)
Overnight Media Digest
WSJ
* Retail health clinics that are popping up in drugstores and other outlets shouldn't be used for children's primary-care needs, the American Academy of Pediatrics said, arguing that such facilities don't provide the continuity of care that pediatricians do.
* With tax season under way, federal authorities are stepping up efforts to stop what they call a growing problem of fraudulent filings seeking tax refunds based on stolen identities.
* Hedge fund Blue Harbor has taken a 2.5 percent stake in Tribune and is discussing with its management moves to boost the media company's shares.
* CNN says the prime-time talk show "Piers Morgan Live" is coming to an end after just three years in a key primetime slot. The program, hosted by former newspaper editor Piers Morgan, had struggled to gain traction at the 9 p.m. hour, and was routinely beaten in the ratings by cable competitors.
* The activist hedge fund fighting Darden Restaurants Inc over its plan to spin off Red Lobster is trying a new tactic: a shareholder vote that could halt the plan.
* Netflix Inc has agreed to pay Comcast Corp to ensure Netflix movies and TV shows stream smoothly to Comcast customers, a landmark agreement that could set a precedent.
* Boeing Co's machinists at its St. Louis defense plant agreed Sunday to a seven and a half year contract extension that will further move the company's unionized employees away from a defined benefit retirement plan.
FT
German Chancellor Angela Merkel is likely to urge Britain to stay at the heart of the European Union, dismissing eurosceptics, during her one-day visit to the UK.
European telecoms industry body, Etno, has criticised "over-regulation" of the sector, and blasted proposals for neutrality plans - which would bar them from giving importance to guaranteed internet access services - scheduled to be vetoed in the European Parliament this week.
The European Commission is expected to report a formal complaint against Telefonica's takeover bid of 8.6 billion euros for KPN's German mobile division, E-Plus, people familiar with the talks said.
Deutsche Bank has laid out plans to reduce its U.S. balance sheet as the U.S. Federal Reserve adopts new rules to shield the country's taxpayers from costly bailouts.
British specialist credit advisory firm Venn Partners has bought a 500 million euro portfolio of Dutch residential mortgages, marking its entry into the residential mortgage-backed securities platform since the credit crunch.
NYT
The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.
* The Federal Reserve pumped hundreds of billions of dollars to nations to bolster global banks when dollars were scarce, newly released transcripts of 2008 Fed policy committee meetings reveal.
* An actuarial board is recommending a change in the financial information given out by public pension plans, saying more precise, meaningful information about the health of all public pension funds would give citizens the facts they need to make informed decisions.
* Comcast Corp and Netflix Inc announced an agreement Sunday in which Netflix will pay Comcast for faster and more reliable access to Comcast's subscribers.
* Yahoo Inc is starting to push into two of the hottest areas of Internet advertising: stream ads and so-called native ads, with the aim of making the ads on Yahoo just as compelling and just as integrated with the news and information people seek on the company's websites and mobile applications.
* Overtaken by new technology and shifting consumer habits, telephone movie listing and ticket service Moviefone will be disconnected.
* News organizations are rushing to form alliances with new companies they hope can give them an edge in finding stories and attracting younger viewers.
* Credit Suisse on Friday became the latest big bank to admit wrongdoing to the Securities and Exchange Commission, striking a deal over its failure to comply with a cardinal rule of the financial industry.
Canada
THE GLOBE AND MAIL
* John Tory will end months of speculation on Monday by declaring his candidacy for Toronto mayor, promoting low taxes and a downtown relief subway in a bid to unseat Rob Ford.
* Canada's middle-class is mortgaging its future to stay afloat, making the Canadian dream "a myth more than a reality." That is the blunt assessment of an internal Conservative government report, an unvarnished account of the plight of middle-income families that is in contrast to the rosier economic picture in this month's budget.
Reports in the business section:
* Maple Leaf Foods Inc Chief Executive Michael McCain is asking for patience. Again. The meat company he runs - and owns one-third of - is nearing the end of a multiyear restructuring in which it is replacing production facilities and opening a new distribution system.
* After struggling through a year that Target Corp executives are probably relieved to put behind them, they now face further uncertainties, since the retailer is currently grappling with skittish consumers who are heading to stores less often.
NATIONAL POST
* Federal Liberals passed a controversial resolution calling for the de-criminalization of medically-assisted suicide during their policy convention on Sunday.
* Finance Minister Jim Flaherty said Canada's economy could post surprising growth this year as optimism remains strong around the U.S. recovery.
FINANCIAL POST
* TekSavvy Solutions Inc must hand over the names of hundreds of its customers accused of illegal file sharing, the Federal Court ruled this week, but internet policy experts say the carefully crafted decision actually lowers the odds of "copyright trolls" setting up shop in Canada.
* With the ups and downs of the Keystone XL pipeline becoming a national obsession, many of those keeping score became more pessimistic this week about the United States approving the project because of a lack of progress at the Three Amigos summit in Mexico, in addition to an unfavourable ruling by a lower court in Nebraska.
China
SHANGHAI SECURITIES NEWS
- Widespread talk that some banks have posed curbs on loans to property developers has caused fresh alarm in the sector that has long been criticised for sky-high housing and land prices.
- A sharp fall in China's short-term money market rates last week, partly propelled by milder-than-expected central bank open market operations, has sparked hopes that the long depressed domestic stock market may continue its recent rebound.
CHINA SECURITIES JOURNAL
- A commentary said unusual high investment in China's property market over the past decade has caused a saturation in the sector and such investment will for certain cool down along with the slowdown of the country's economy in recent years.
- The China Banking Regulatory Commission has convened a meeting on rapid expansion of the country's money market funds, warning that risk is mounting in such products amid an official clampdown on excessive liquidity in the money markets.
CHINA BUSINESS NEWS
- The southern Chinese city of Guangzhou may take the lead to let the public conduct online search on officials' salaries and other income, a step towards ordering officials to make public their assets, which has been a widespread call from the Chinese public yearning for a clean government.
SECURITIES TIMES
- China may simplify procedures to let brokerages sell assets-backed securities later this year, allowing them to just register with regulators to float such products, instead of applying for approval currently.
CHINA DAILY
- A number of security measures, including a permanent police presence, will be introduced in major hospitals after a rising spate of vicious attacks against medical workers, Sun Haibo, an official at the Ministry of Public Security, said.
SHANGHAI DAILY
- Factories have been closed and vehicles put off the road as China takes a slew of steps to curb persistent air pollution in major cities including its capital of Beijing.
PEOPLE'S DAILY
- China is amending its "Advertisement Law" and may ban any parties to send advertisements to anybody via mobile phone short messengers and emails without the permission of receivers.
Britain
The Telegraph
HSBC TO UNVEIL HIGHEST PROFITS SINCE START OF CRISIS
HSBC is expected to unveil its highest profits since the onset of the financial crisis on Monday, fuelled by a surge in mortgage lending as the UK's economic recovery gathers pace.
GOODBYE NATIONAL INSURANCE. HELLO EARNINGS TAX
National Insurance, a 100-year old charge on employers and employees, will be renamed "earnings tax", the Chancellor has signalled.
The Guardian
DAVID CAMERON TO PROMISE NORTH SEA OIL REVOLUTION
David Cameron will use his first ever cabinet meeting in Scotland to promise a revolution in North Sea oil and gas extraction worth up to 200 billion pounds over two decades - but that this will only be affordable if the union stays together.
SCANDAL OF EUROPE'S 11 MILLION EMPTY HOMES
More than 11 million homes lie empty across Europe - enough to house all of the continent's homeless twice over - according to figures collated by the Guardian from across the EU.
The Times
BANKS MUST KEEP TO RULES ON LIQUIDITY, SAYS MARK CARNEY
The Governor of the Bank of England warned last night that banks have to stop refusing to follow new international rules on capital and liquidity.
SECRET PENSION FEES THAT COST BILLIONS ARE EXPOSED
The government is to make fund managers reveal the details of costs and charges for almost all pensions in Britain.
Sky News
HSBC CHIEF EXECUTIVE GULLIVER LANDS 1.8 MLN STG BONUS
HSBC is to hand its chief executive a bonus of 1.8 million pounds as part of a 7 million pound-plus overall pay deal for 2013, Europe's largest bank will disclose on Monday.
Nokia X Android Smartphone Set For Launch
Nokia's first Android smartphone is expected to be launched at the Mobile World Congress in Barcelona on Monday.
Fly On The Wall 7:00 AM Market Snapshot
ECONOMIC REPORTS
Domestic economic reports scheduled for today include:
Chicago Fed national activity index for January at 8:30 am ET--consensus -0.2
Dallas Fed manufacturing survey for February at 10:00 am ET--consensus 3.0
ANALYST RESEARCH
Upgrades
Artisan Partners (APAM) upgraded to Buy from Neutral at Citigroup
BankUnited (BKU) upgraded to Outperform from Neutral at Credit Suisse
CIBC (CM) upgraded to Buy from Neutral at Citigroup
Canadian Pacific (CP) upgraded to Buy from Hold at BB&T
Comcast (CMCSA) upgraded to Outperform from Sector Perform at Pacific Crest
Consolidated Edison (ED) upgraded to Hold from Underperform at Jefferies
Expeditors (EXPD) upgraded to Outperform from Sector Perform at RBC Capital
Genpact (G) upgraded to Outperform from Market Perform at BMO Capital
Gerdau SA (GGB) upgraded to Buy from Neutral at BofA/Merrill
Invesco Mortgage (IVR) upgraded to Buy from Hold at Wunderlich
Kindred Healthcare (KND) upgraded to Market Perform from Underperform at Wells Fargo
Marriott (MAR) upgraded to Outperform from Market Perform at Raymond James
Molson Coors (TAP) upgraded to Hold from Sell at Societe Generale
Nordstrom (JWN) upgraded to Neutral from Underweight at Atlantic Equities
Pilgrim's Pride (PPC) upgraded to Buy from Hold at BB&T
Plexus (PLXS) upgraded to Market Perform from Underperform at Raymond James
Select Medical (SEM) upgraded to Market Perform from Underperform at Wells Fargo
Semtech (SMTC) upgraded to Neutral from Sell at B. Riley
Two Harbors (TWO) upgraded to Buy from Hold at Wunderlich
UTi Worldwide (UTIW) upgraded to Outperform from Sector Perform at RBC Capital
Verizon (VZ) upgraded to Buy from Neutral at BofA/Merrill
Downgrades
3D Systems (DDD) downgraded to Underperform from Buy at BofA/Merrill
Builders FirstSource (BLDR) downgraded to In-Line from Outperform at Imperial Capital
Commercial Metals (CMC) downgraded to Hold from Buy at KeyBanc
Container Store (TCS) downgraded to Hold from Buy at Stifel
Container Store (TCS) downgraded to Underperform from Neutral at BofA/Merrill
Extra Space Storage (EXR) downgraded to Neutral from Buy at ISI Group
Forest Labs (FRX) downgraded to Neutral from Outperform at Credit Suisse
Halliburton (HAL) downgraded to Market Perform from Outperform at Wells Fargo
Hibbett Sports (HIBB) downgraded to Sell from Hold at Stifel
Tim Participacoes (TSU) downgraded to Neutral from Buy at Citigroup
Toronto-Dominion (TD) downgraded to Neutral from Buy at Citigroup
U.S. Steel (X) downgraded to Hold from Buy at KeyBanc
Initiations
Canadian Solar (CSIQ) initiated with an Overweight at JPMorgan
Celladon (CLDN) initiated with an Overweight at Barclays
H&R Block (HRB) initiated with an Outperform at Credit Suisse
Lifetime Brands (LCUT) initiated with a Buy at Canaccord
Paragon Shipping (PRGN) initiated with a Buy at Jefferies
Zillow (Z) initiated with an Equal Weight at Morgan Stanley
COMPANY NEWS
Netflix (NFLX), Comcast (CMCSA) announced multi-year interconnection agreement
Chesapeake (CHK) to pursue strategic alternatives for Oilfield Services division
Microsoft (MSFT) added new Windows Phone hardware partners, including Lenovo (LNVGY), Foxconn and LG
Mueller Industries (MLI) hikes dividend 20%, announced 2-for-1 stock split
WellCare (WCG) CFO Tom Tran to step down
MasterCard (MA) to acquire C-SAM, terms not disclosed
Ericsson (ERIC), Facebook (FB) announced joint innovation lab for Internet.org initiative
Ericsson (ERIC), Telefonica (TEF) partner to virtualize networks
EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Autohome (ATHM)
Companies that missed consensus earnings expectations include:
TGC Industries (TGE)
NEWSPAPERS/WEBSITES
Ford (F) to dump Microsoft (MSFT) for BlackBerry (BBRY) in next-generation Sync, Bloomberg reports
HSBC (HBC) not planning to spin off U.K. retail bank, Reuters reports
Pfizer (PFE) to resume shipping thyroid drug Levoxyl, WSJ reports
Deutsche Bank (DB) outlines plans to meet new Fed rules, including reduction in assets held in U.S. unit by up to 25%, FT reports
Nokia (NOK) looks to expand Juniper (JNPR) sales partnership, smaller deals, Bloomberg reports
Las Vegas Sands (LVS)' Adelson: 'I'd spend $10B in Japan,' WSJ reports
Nokia (NOK) aims for emerging markets with Android smartphones, AP reports
UBS (UBS) wants immunity from U.S., EU in fx investigations, Bloomberg reports
GE (GE) to increase energy research $10B by 2020, Reuters reports
Apple (AAPL), Samsung (SSNLF) fail to reach settlement in patent dispute, WSJ reports
Sina (SINA) preparing to float Weibo in the U.S., FT reports
BARRON’S
Kinder Morgan (KMP, KMR, KMI, EPB) could lose appeal
AIG (AIG), Halliburton (HAL), Ingersoll-Rand (IR), Discover (DFS) could double dividends
Kaiser Aluminum (KALU) could return about 20% in next 18 months
Ralph Lauren (RL) at good entry point for long-term investors
BHP Billiton (BHP), Rio Tinto (RIO) have room to run higher
Svenska Cellulosa AB (SVCBY) could jump 20% in a year
SanDisk (SNDK) still looks cheap
Compass Minerals (CMP) could reach $100
Facebook's (FB) acquisition of WhatsApp could be age-driven
SYNDICATE
Atlas Pipeline Partners (APL) files to sell $250M of common units
IMAX (IMAX) files to sell 2.73M shares of common stock for holders
Quintiles (Q) files to sell 15M shares of common stock for holders
Rubicon Minerals (RBY) files to sell 37.15M shares of common stock
Average:
Pre Market Movers
Top Gaining Stocks
Price %Change
ATHM Autohome Inc Adr ... 38.50 8.85%
SVLC Silvercrest Mines... 2.60 8.79%
SSNI Silver Spring Net... 19.00 7.59%
GAME Shanda Games Limi... 7.25 7.09%
SBGL Sibanye Gold Ltd ... 8.50 6.78%
JNUG Direxion Daily Ju... 38.50 6.74%
SINA Sina Corporation ... 77.79 6.63%
SMLR Semler Scientific... 7.44 6.44%
AGEN Agenus Inc. 4.12 6.19%
NQ NQ Mobile 19.50 5.41%
PANW Palo Alto Network... 77.50 5.27%
PRGN Paragon Shipping ... 6.80 5.10%
BBRY Research in Motio... 9.60 5.03%
NUGT Direxion Daily Go... 53.60 5.02%
GNVC Genvec Inc. 3.65 4.89%
KNDI Kandi Technologie... 14.00 4.79%
INO Inovio Pharmaceut... 3.36 4.35%
SRPT Sarepta Therapeut... 29.10 4.23%
IDRA Idera Pharmaceuti... 6.25 4.17%
MVIS Microvision Inc. ... 2.94 3.89%
Top Losing Stocks
Price %Change
VOD Vodafone Group Pl... 41.26 -38.02%
SYN Synthetic Biologi... 2.32 -12.12%
DDD 3D Systems Corp. ... 77.32 -4.24%
SFUN Soufun Holdings 77.00 -3.74%
HSBC Hsbc Holdings Plc... 52.63 -3.13%
RL Ralph Lauren Corp... 153.49 -3.10%
RAI Reynolds American... 47.12 -3.09%
CCOI Cogent Communicat... 39.23 -2.49%
KMI Kinder Morgan 32.25 -2.36%
MHG Marine Harvest As... 11.03 -2.22%
OPK Opko Health 8.65 -2.04%
HUM Humana Inc. 101.00 -1.77%
KMP Kinder Morgan Ene... 77.11 -1.70%
SSYS Stratasys Ltd. 124.39 -1.68%
TTM Tata Motors Ltd. ... 32.30 -1.58%
CLDX Celldex Therapeut... 31.10 -1.46%
CEO Cnooc Ltd. Ads 159.00 -1.43%
KMR Kinder Morgan Man... 73.00 -1.43%
NFLX Netflix Inc. 426.55 -1.31%
BCOM B Communications ... 15.06 -1.25%
Read more at http://thestockmarketwatch.com/markets/pre-market/#qiPpj3y6cEeTy0Tq.99
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PMI Services Flash
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Dallas Fed Mfg Survey
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4-Week Bill Announcement
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Thomas Hoenig Speaks
3:50 PM ET
Futures +23
good morning
yes! stuffit mentioned that as well!
and Ava can ride her bike as well!!!
!!!!!!!!!
I'm beat!!!!!!!!!
'Gravity' dvd goes on sale Tuesday....
hi sweetie...that's the funny thing...Alex has already fallen twice off the horse, got back on.....no problem...
the bike...well...I guess it scared her for 4 years....
just glad I got her going before she learns to drive!!!!
you are so smart....!!!!
there it is....
2014: Goal #1: Let's try for $48K by June 1st, 2014. Will review/submit Goal #2 in the summer.
I can't find it....but remember posting my goals....
good morning....
working hard, still making mistakes, but fewer....
looking for that post!!
I hate when they keep going too!
very nice stuffie....
good call...
at least you kept a few!!!