SODA $5 move fr yesterday's low

WASHINGTON (MarketWatch) — Private-sector employers added the most jobs in more than a year in December, with gains across a variety of business sizes and sectors, according to data released Wednesday.

Private employers added 238,000 jobs last month, the most since November 2012, Automatic Data Processing Inc. reported. Trends also show improvement: Private employers added an average of 224,000 jobs per month in the fourth quarter, slightly up from an average of 211,000 during the year-earlier period.

“It appears that businesses are growing more confident and increasing their hiring,” said Mark Zandi, chief economist of Moody’s Analytics, which prepares the report using ADP’s data.

Stock futures slipped despite the strong report.

Notably, ADP’s private-employment showed that goods producers added 69,000 jobs in December, the most since 2006, supported by the housing market’s recovery.

“This sharp gain comes despite unfavorable weather conditions over the month,” Neil Dutta, head of U.S. economics at Renaissance Macro Research, said.

Meanwhile, service providers added 170,000 spots, up slightly from the year-earlier period.

Looking at private employers by size, small businesses added 108,000 jobs in December, while large businesses added 71,000 and medium businesses added 59,000.

The improving data on private-sector jobs has been echoed by a variety of other recent labor-market reports. Recent gauges of services and manufacturing firms show hiring is picking up, and businesses are increasing investment in durable goods, reflecting their confidence in the economy. Indeed, even workers are feeling secure enough to leave their jobs, with a recent report showing that quitting is on the rise .

Still, there’s room for improvement. Despite steadily adding jobs for more than three years, the U.S. economy has almost 1.3 million fewer nonfarm positions, which include private and government spots, than when the recession began at the end of 2007.

Economists use ADP’s data to get a feeling for the U.S. Labor Department’s nonfarm employment report, which will be released Friday. Economists expect the government’s report to reflect that unusually bad weather conditions dampened hiring in December, with nonfarm employment rising by 190,000 jobs, compared with an increase of 203,000 jobs in November.

Economists had forecast that ADP’s report would show private-sector employers added 215,000 jobs last month, matching a prior estimate for November. On Wednesday ADP revised November’s gain to 229,000.

More news from MarketWatch:

Stock futures slip despite upbeat ADP data

SODA ~ a few $49.94 hitting premkt high....

PCYC +$20 yesterday....among many that went nutzo

FRX +$9.83....another crazy mover this a.m.

TWTR hit low of 58.73 premkt....

really great to see you around!

take it easy today and I hope you feel better.....you do seem spunky!

yes, but yucky feeling......I will do better....

TWTR ~ 60 min

another downgrade today...

58.57?

Pre Market Movers

Top Gaining Stocks

Price %Change
PATH Nupathe Inc. 4.25 31.58%
MU Micron Technology... 23.80 9.53%
IRBT irobot Corporatio... 39.16 8.30%
MFRI Mfri Inc. 15.70 7.83%
FRX Forest Laboratori... 63.00 7.22%
RWC Relm Wireless Cor... 3.50 6.71%
CMGE China Mobile Game... 27.78 6.15%
BLRX Biolinerx Ltd. 3.07 5.86%
NXPI Nxp Semiconductor... 45.12 5.00%
STZ Constellation Bra... 73.25 4.75%
PSTI Pluristem Therape... 4.28 4.14%
PLUG Plug Power Inc. 4.00 3.90%
RAD Rite Aid 5.51 3.77%
IAG Iamgold Corp. 3.63 3.71%
QIHU Qihoo 360 Technol... 84.25 3.50%
AIXG Aixtron SE 15.50 3.47%
IMMU Immunomedics Inc.... 4.98 2.68%
MTW Manitowoc Co. 23.48 2.35%
PHMD Photomedex Inc. 14.15 2.31%
RBS Royal Bank of Sco... 11.72 2.27%

Top Losing Stocks

Price %Change

TCS Tcs 40.42 -11.73%
SEED Origin Agritech L... 2.16 -11.11%
SPRT support.com Inc. ... 3.20 -7.78%
OLED Universal Display... 32.40 -5.01%
GYRO Gyrodyne Company ... 7.47 -4.48%
VRS Verso Paper Corp.... 4.20 -4.11%
OXBT Oxygen Biotherape... 5.35 -3.60%
LAND Gladstone Land Co... 15.45 -3.56%
NUGT Direxion Daily Go... 29.81 -2.87%
BLDP Ballard Power Sys... 2.40 -2.83%
NBIX Neurocrine Biosci... 18.00 -2.78%
JKS Jinkosolar Holdin... 35.49 -2.71%
TWTR Twitter Inc 59.92 -2.51%
CETV Central European ... 3.29 -2.37%
AMBA Ambarella Inc. 34.88 -2.05%
TS Tenaris S.a. Ads ... 41.33 -1.60%
SLV ishares Silver Tr... 18.84 -1.49%
MM Millennial Media ... 7.35 -1.47%
GRPN Groupon Inc. 11.71 -1.43%
PGR Progressive Corp.... 25.66 -1.42%

Read more at http://thestockmarketwatch.com/markets/pre-market/#zXOROQh3fbZdM2te.99

Frontrunning:


Here comes JPM's next multibillion legal reserve: Federal Probe Targets Banks Over Bonds (WSJ)
Mulally Bows Out of Microsoft CEO Race, Staying at Ford (BBG)
United States sending more troops and tanks to South Korea (Reuters)
Eurozone unemployment sticks at record high (FT)
China-Japan 'Voldemort' attacks up ante in propaganda war (Reuters)
Alternative Lenders Peddle Pricey Commercial Loans (WSJ)
John McAfee: glad Intel dropping name from security software (Reuters)
Jobless Benefits Bill Stays Alive Amid Talks on Offsets (BBG)
Chicago Colder Than South Pole as Frigid Air Clamps Down (BBG)
Former Miss Venezuela shot dead in attempted robbery (Reuters)
Bedroom-Invading Smartphones Jumble Body’s Sleep Rhythms (BBG)
Netflix Loses Its Cloud Guru to a VC Firm (BBG)
Goldman Sachs promotes investment bankers in U.S., Asia (Reuters)
Swiss Anxiety Stoked by Immigration as Zurich Transformed (BBG)


Overnight Media Digest

WSJ

* Federal investigators are probing whether a number of Wall Street banks cheated clients in the years following the financial crisis by deliberately mispricing a type of mortgage bond that was central to the economic turmoil.

* Three years after IBM began trying to turn its "Jeopardy"-winning computer into a big business, revenue from Watson is far from the company's ambitious targets.

* JPMorgan will pay roughly $2.6 billion as part of several criminal and civil settlements that resolve allegations the largest U.S. bank failed to provide adequate warnings about Madoff's decades-long Ponzi scheme.

* Investors are bailing out of emerging markets from Turkey and Brazil to Thailand and Indonesia, extending a selloff that began last year, amid concerns about faltering economies and political unrest.

* Goldman Sachs names George Lee as the chief information officer for investment banking, as part of an effort to shake up its technology banking team and raise its profile among startups. Viewed as Wall Street's most tech-savvy firm, Goldman has often preferred to develop its own programs rather than bring in outside vendors.

* Citigroup Inc is considering selling its $1 billion stake in a private-equity fund to comply with new federal rules, said a person familiar with the matter.

* Amazon doesn't rush into filling higher-level jobs. Indeed, the e-commerce giant has a gantlet of people, dubbed "bar raisers," who must sign off on would-be hires.

* Ford CEO Alan Mulally said he won't leave the auto maker to take the top job at Microsoft, ending months of speculation about his future.

* As Apple sells more iPhones and iPads, it also sells more apps. The volume of those sales became clear for the first time when Apple said it sold more than $10 billion worth through its App Store last year.

* Apple asked a federal judge late Tuesday to remove the lawyer she appointed to monitor the company's e-book pricing reform, escalating an already contentious feud between the company and the lawyer.



FT

JPMorgan Chase & Co agreed on Tuesday to pay $2.6 billion to settle a criminal prosecution and private litigation over failures to report suspicious activity involving Bernard Madoff's Ponzi scheme.

Apple Inc said on Tuesday that its customers spent $10 billion on purchases in its applications store in 2013, roughly as much as it sold in the previous four years combined, cementing the company's lead over Google Inc in a key battleground of mobile computing.

AP Moller Maersk has agreed to sell most of its stake in Denmark's largest retailer, Dansk Supermarked, as the shipping-to-oil conglomerate continues to prune its sprawling portfolio.

The entire financial services industry should comply with tighter rules over the appointment of senior bankers, the Financial Conduct Authority (FCA) watchdog said on Tuesday as it admitted to shortcomings in its screening senior staff at the Co-operative Bank.

Centrica Plc finance director Nick Luff will quit this year to join information group Reed Elsevier, adding to a string of recent departures from Britain's biggest household energy supplier.

Yields on government debt for the euro zone's crisis-hit countries tumbled on Tuesday after Ireland made a storming return to the international bond market with bumper demand for the country's first debt sale since exiting its international bailout programme last month.



NYT

* As part of a deferred-prosecution agreement, JPMorgan Chase & Co will pay $1.7 billion to the Justice Department for not maintaining proper anti-money laundering controls and failing to file a "suspicious activity report" on Bernard Madoff's account.

* The Federal Trade Commission charged Sensa Products, L'Occitane, HCG Diet Direct and LeanSpa with deceptively marketing weight-loss products, asserting they made "unfounded promises" that consumers could shed pounds by using their food additives, skin creams and other dietary supplements.

* An indictment by the Manhattan district attorney's office charged 106 people in the largest fraud ever perpetrated against the Social Security disability system. The scheme, stretching back to 1988 and involving as many as 1,000 people, many of whom are officers and firefighters already collecting pensions from the city, is suspected to have cheated the federal government out of about $400 million.

* The Senate voted to advance legislation extending expired unemployment benefits. The three-month extension of benefits passed on a vote of 60 to 37, and some of the six Republicans who voted yes said they wanted the $6.4 billion cost paid for through cuts elsewhere in the budget.

* While the federal government is spending more than $22 billion to encourage hospitals and doctors to adopt electronic health records, it has failed to put safeguards in place to prevent the technology from being used for inflating costs and overbilling, according to a new report by a federal oversight agency.

* A legal struggle over Utah's voter-approved ban on same-sex marriage has catapulted the socially conservative state to the center of the national debate over who should be allowed to wed, and whether states have the right to limit marriages to one man and one woman.

* A U.S. military helicopter crashed on the coast of eastern England on Tuesday, and all four people aboard were believed to have been killed, authorities said. The cause of the crash was unclear. The helicopter was a United States Air Force HH-60 Pave Hawk that was based at the Royal Air Force base in Lakenheath in Suffolk, also in eastern England.

* Drawing on lessons from Hurricane Sandy, New York Governor Andrew Cuomo outlined how the state would spend more than $16 billion in federal disaster aid on items like high-tech weather stations and seals for entrances to subway stations.



Canada

THE GLOBE AND MAIL

** Toronto's Pearson International Airport, Canada's largest airport, said the deep freeze gripping the eastern part of the continent forced it to temporarily halt landings for hundreds of flights.

** Parka maker Canada Goose is trying to "bully" Sears Canada Inc and other retailers through litigation, Sears said in court documents as it hit back at a trademark infringement lawsuit filed last year. Canada Goose's real motive is to curtail the sales of lower-priced winter jackets so it can keep selling its products "at a huge markup," Sears said.

Reports in the business section:

** Insurers are expected to increase homeowners' premiums by hefty amounts as the industry seeks to protect itself against the steepening costs of severe weather. Some property and casualty insurers are already charging more for home insurance following a particularly expensive year for claims from flooding, ice storms and hail.

NATIONAL POST

** Two Canadian women were under Mexican custody, suspected of lobbing Molotov cocktails at Mexico City government offices. Late Sunday night, three suspects allegedly ignited a series of gasoline bombs at a Nissan Motor dealership and a high-rise building housing the offices of Mexico's Secretariat of Communications and Transportation.

FINANCIAL POST

** The "polar vortex" weather system blasting Canada and the U.S. with extreme cold has disrupted infrastructure and threatened crops and cattle. But economists do not expect to see a lasting impact on Canada's GDP.

** The Desmarais family disposed of a major block of stock in Power Corp of Canada, for the third time in less than six years, through a marketed overnight offering. The latest deal was announced on Dec. 24 and marked the first sale since the death of Paul Desmarais, the company's founder, last October.



China

CHINA DAILY

- China's box office generated 21.77 billion yuan ($3.60 billion) of revenue last year, an increase of 27.51 percent from 2012, according to the State Administration of Press, Publication, Radio, Film and Television. Meanwhile, overseas movies made 9 billion yuan, an increase of 54.32 percent.

- Sina Weibo, a popular micro-blogging site, and Alipay, an e-payment provider, announced on Tuesday that they would integrate their systems to boost e-commerce, in a bid to rival WeChat, an increasingly popular chatting app owned by Tencent Holdings Ltd.

SECURITIES TIMES

- The marginal cost to China of accumulating foreign exchange reserves surpasses the marginal revenue and is no longer beneficial for the country, said Yi Gang, deputy governor of the People's Bank of China. New foreign exchange measures will be introduced in 2014, he said.

PEOPLE'S DAILY

- Revisions made by the Ministry of Finance to travel spending regulations have been successful, said an article in the paper that acts as the Party's mouthpiece. The introduction of stringent travel management is not only to control invoices, but to promote thrift, it said.



Britain

The Telegraph

EUROZONE LOSING 'SAFETY MARGIN' AGAINST DEFLATION TRAP AS CORE GAUGE FALLS TO RECORD LOW

Eurozone inflation has fallen to the lowest recorded under two key measures, raising the risk of a textbook deflation trap if recovery falters or there is an unexpected shock.

IMF TO REVISE UP GLOBAL GROWTH FORECASTS, SAYS CHRISTINE LAGARDE

The International Monetary Fund will revise upward its global growth forecast in about three weeks, Managing Director Christine Lagarde has revealed.

The Guardian

FCA STANDS BY DECISION TO SANCTION PAUL FLOWERS AS CO-OP BANK CHAIRMAN

The regulator who authorised Paul Flowers's appointment as chairman of the Co-operative Bank faced intense criticism from MPs on Tuesday after he insisted he stood by the decision to allow the now disgraced Methodist minister to take on the role after a 90-minute interview in 2010.

JPMORGAN CHASE TO PAY MORE THAN $2BLN IN PENALTIES FOR MADOFF TIES

JPMorgan Chase & Co has agreed to pay a record $2 billion to settle charges that it knowingly ignored evidence that convicted fraudster Bernard Madoff's massive Ponzi scheme was "too good to be true."

The Times

GATWICK CHIEF APOLOGISES FOR FLOOD FAILURE

Gatwick Airport ignored its own contingency plan when floods struck on Christmas Eve and tried to get as many passengers away as possible, even though it lacked sufficient staff or bus drivers to transfer travellers between terminals, Parliament was told on Tuesday.

HARVEY NICHOLS' NEW CHIEF SETS SIGHTS ON CHINA

A former Burberry executive at the forefront of the designer's transformation into a global powerhouse has been named as the new boss of Harvey Nichols and set out plans of how she plans to "supercharge" the luxury department store chain. Stacey Cartwright said that she wanted to introduce a Harvey Nichols own-brand clothing range, roll out more overseas stores, launch transactional websites and weigh up opening a store in mainland China.

The Independent

EASYJET NARROWS GAP WITH RYANAIR AS PASSENGER NUMBERS TAKE OFF

EasyJet flew more than 60 million passengers last year as more Britons spent Christmas overseas. In total, the airline flew 61.33 million passengers in 2013, which is 3.6 per cent more than during the previous 12 months. EasyJet's growth in 2013 helped it to narrow the gap with Europe's biggest budget carrier, Ryanair, which saw passenger numbers grow only 2.3 percent last year.

MAN GROUP DENIES IT MISLED RICHARD DESMOND OVER 'INCOMPREHENSIBLE' DEAL

Hedge fund giant Man Group has brushed off Richard Desmond's 20-million-pound High Court claim for losses on a financial product, insisting it did not even act as the counter-party in the disputed transaction.



Fly On The Wall 7:00 AM Market Snapshot

ANALYST RESEARCH

Upgrades

C.R. Bard (BCR) upgraded to Overweight from Neutral at Atlantic Equities
Comerica (CMA) upgraded to Perform from Underperform at Oppenheimer
Crown Holdings (CCK) upgraded to Overweight from Neutral at JPMorgan
Guidance Software (GUID) upgraded to Buy from Hold at Benchmark Co.
Helmerich & Payne (HP) upgraded to Outperform from Sector Perform at RBC Capital
Hershey (HSY) upgraded to Buy from Hold at Deutsche Bank
Integra LifeSciences (IART) upgraded to Neutral from Underperform at BofA/Merrill
Kraft Foods (KRFT) upgraded to Buy from Hold at Deutsche Bank
MV Oil Trust (MVO) upgraded to Market Perform from Underperform at Raymond James
Manitowoc (MTW) upgraded to Overweight from Equal Weight at Morgan Stanley
MetLife (MET) upgraded to Buy from Neutral at Citigroup
NASDAQ (NDAQ) upgraded to Buy from Neutral at Citigroup
Nabors Industries (NBR) upgraded to Outperform from Sector Perform at RBC Capital
Oceaneering (OII) upgraded to Outperform from Sector Perform at RBC Capital
PDC Energy (PDCE) upgraded to Outperform from Market Perform at Wells Fargo
Panera Bread (PNRA) upgraded to Outperform from Market Perform at Wells Fargo
Patterson-UTI Energy (PTEN) upgraded to Outperform from Sector Perform at RBC Capital
Philippine Long Distance (PHI) upgraded to Buy from Sell at Citigroup
Rite Aid (RAD) upgraded to Overweight from Neutral at JPMorgan
Rowan Companies (RDC) upgraded to Outperform from Sector Perform at RBC Capital
TCF Financial (TCB) upgraded to Outperform from Perform at Oppenheimer
Tyco (TYC) upgraded to Buy from Neutral at Citigroup
Valeant (VRX) upgraded to Overweight from Equal Weight at Morgan Stanley
WESCO (WCC) upgraded to Buy from Neutral at Citigroup

Downgrades

Ambarella (AMBA) downgraded to Hold from Buy at Needham
CME Group (CME) downgraded to Neutral from Buy at Citigroup
Cardinal Health (CAH) downgraded to Neutral from Overweight at JPMorgan
Clorox (CLX) downgraded to Underweight from Neutral at JPMorgan
Container Store (TCS) downgraded to Neutral from Buy at BofA/Merrill
Cooper Tire (CTB) downgraded to Hold from Buy at BB&T
Copa Holdings (CPA) downgraded to Neutral from Buy at Goldman
Dean Foods (DF) downgraded to Hold from Buy at Deutsche Bank
Eli Lilly (LLY) downgraded to Underperform from Market Perform at BMO Capital
First Midwest (FMBI) downgraded to Perform from Outperform at Oppenheimer
Generac (GNRC) downgraded to Hold from Buy at Stifel
Honeywell (HON) downgraded to Neutral from Buy at Citigroup
Humana (HUM) downgraded to Equal Weight from Overweight at Barclays
Ingredion (INGR) downgraded to Market Perform from Outperform at BMO Capital
J.M. Smucker (SJM) downgraded to Hold from Buy at Deutsche Bank
KeyCorp (KEY) downgraded to Perform from Outperform at Oppenheimer
Magellan Health (MGLN) downgraded to Equal Weight from Overweight at Barclays
McDonald's (MCD) downgraded to Market Perform from Outperform at Wells Fargo
National Oilwell (NOV) downgraded to Sector Perform from Outperform at RBC Capital
Neurocrine (NBIX) downgraded to Equal Weight from Overweight at Morgan Stanley
Noble Corp. (NE) downgraded to Sector Perform from Outperform at RBC Capital
Steven Madden (SHOO) downgraded to Neutral from Overweight at Piper Jaffray
Tenet (THC) downgraded to Market Perform from Outperform at Raymond James
Transocean (RIG) downgraded to Sector Perform from Outperform at RBC Capital
Twitter (TWTR) downgraded to Sell from Hold at Cantor
U.S. Bancorp (USB) downgraded to Neutral from Outperform at Credit Suisse
United Technologies (UTX) downgraded to Neutral from Buy at Citigroup

Initiations

Bank of America (BAC) initiated with a Buy at Jefferies
Brinker (EAT) initiated with an Outperform at Credit Suisse
Buffalo Wild Wings (BWLD) initiated with a Buy at UBS
Burger King (BKW) initiated with a Neutral at Credit Suisse
Burger King (BKW) initiated with a Neutral at UBS
Cheesecake Factory (CAKE) initiated with a Neutral at UBS
Cheesecake Factory (CAKE) initiated with an Outperform at Credit Suisse
Chipotle (CMG) initiated with a Neutral at UBS
Chipotle (CMG) initiated with an Outperform at Credit Suisse
Citigroup (C) initiated with a Hold at Jefferies
Darden (DRI) initiated with a Neutral at UBS
Darden (DRI) initiated with an Underperform at Credit Suisse
Delta Air Lines (DAL) initiated with an Overweight at Atlantic Equities
Ignite Restaurant (IRG) initiated with a Buy at UBS
IntercontinentalExchange (ICE) assumed with a Neutral at Citigroup
JPMorgan (JPM) initiated with a Buy at Jefferies
Jack in the Box (JACK) initiated with a Neutral at UBS
Mallinckrodt (MNK) initiated with an Overweight at Piper Jaffray
McDonald's (MCD) initiated with a Buy at UBS
McDonald's (MCD) initiated with a Neutral at Credit Suisse
NeoGenomics (NEO) initiated with an Outperform at William Blair
Nimble Storage (NMBL) initiated with a Market Perform at William Blair
Noodles & Company (NDLS) coverage assumed with a Neutral at UBS
Panera Bread (PNRA) initiated with a Buy at UBS
Ruby Tuesday (RT) initiated with a Neutral at UBS
SodaStream (SODA) initiated with a Buy at KeyBanc
Sonic (SONC) initiated with a Sell at UBS
Southwest (LUV) initiated with a Neutral at Atlantic Equities
Starbucks (SBUX) initiated with a Neutral at UBS
Starbucks (SBUX) initiated with an Outperform at Credit Suisse
Texas Roadhouse (TXRH) initiated with a Neutral at UBS
United Continental (UAL) initiated with an Overweight at Atlantic Equities
Wendy's (WEN) initiated with a Sell at UBS
Yum! Brands (YUM) initiated with a Buy at UBS
Yum! Brands (YUM) initiated with a Neutral at Credit Suisse

HOT STOCKS
Hess Corp. (HES) filed for tax-free spin-off retail unit
Shares of Ford (F) were higher, Microsoft (MSFT) lower, in after hours trading after Ford CEO Mulally told the Associated Press he will stay at the carmaker through at least 2014
WellPoint (WLP) to sell online contact lens retail subsidiary 1-800 CONTACTS to Thomas H. Lee Partners
WellPoint (WLP) entered into an asset-purchase agreement for glasses.com and its virtual try-on technology with Luxottica (LUX)
Era Group (ERA) to purchase four S92 helicopters from Sikorsky (UTX) for $129M
Comcast (CMCSA) , Live Nation (LYV) extended partnership, naming agreement

EARNINGS
Companies that beat consensus earnings expectations last night and today include:
Micron (MU), Apollo Education (APOL), Container Store (TCS)

Companies that missed consensus earnings expectations include:
AZZ Inc. (AZZ), Franklin Covey (FC), Micron (MU)

Companies that matched consensus earnings expectations include:
Team (TISI)

NEWSPAPERS/WEBSITES
Federal investigators are probing whether a number of Wall Street banks (BCS, C, DB, GS, MS, JPM, RBS, UBS) cheated clients in the years following the financial crisis by deliberately mispricing a type of mortgage bond that was central to the economic turmoil, sources say, the Wall Street Journal reports
Three years after IBM (IBM) began trying to turn its "Jeopardy"-winning computer into a big business, revenue from Watson is far from the company's ambitious targets, the Wall Street Journal reports
Forest Laboratories (FRX) is nearing an agreement to acquire specialty pharmaceutical company Aptalis Holdings from private equity firm TPG Capital for about $3B, sources say, Reuters reports
Chinese tycoon Chen Guangbiao dialed back his ambitious plans to buy The New York Times Co. (NYT) about a week after making his intentions public. Chen, does not hold shares in the Times, nor does he plan to buy any of its common shares, he said, noting that the Times rebuffed a request for a meeting. The company has a market value of $2.3B. Chen thinks it’s worth $1B, Reuters reports
Delta Air Lines (DAL) and United Airlines (UAL) were forecast to experience fewer canceled flights today as weather warms and schedules begin to return to normal after winter storms erased more than 11,000 flights in four days and marooned millions of fliers, Bloomberg reports
Cisco Systems (CSCO) CEO John Chambers, speaking at the International Consumer Electronics Show, said that the Internet of Everything, connected products ranging from cars to household goods, could be a $19T opportunity, Bloomberg reports

SYNDICATE
Cedar Realty Trust (CDR) to offer 6M common shares
Rouse Properties (RSE) 7M share Secondary priced at $19.50
Rubicon (RBCN) 2.46M share Spot Secondary priced at $10.65

Twitter (TWTR) downgraded to Sell from Hold at Cantor

Kraft Foods (KRFT) upgraded to Buy from Hold at Deutsche Bank

lots of data:


MBA Purchase Applications
[Report][Bullet7:00 AM ET

ADP Employment Report <<<<<<<<<<
[Report][djStar]8:15 AM ET

EIA Petroleum Status Report
[djStar]10:30 AM ET

10-Yr Note Auction
[Bullet1:00 PM ET

FOMC Minutes <<<<<<<<<<<<<<
[Star]2:00 PM ET

Consumer Credit
[Report][Bullet3:00 PM ET

but I will take it....no question....

+.93 premkt w/volume of 5,614

now we need an upgrade by BofA, or MS or something....

$SODA initiated with a Buy at KeyBanc
Target $70

I still don't know why I didn't take the $55 gains?

was a good play, but I screwed up....

Futures -10

good morning

if you were here I would kiss you....

you bet.....hope it's not too cold where you are....

I feel everyone on this board is trapped in snow....

WUBA hit 42 closed +9.61% or +$3.57

TWTR ~ watch for 60 somethingish

GOGO +$2.40 +10%.....fun stock to play

F ~ Ford CEO Mulally Won't Leave for Microsoft -AP F  MSFT 

Gogo 26s......

SODA ~ daily....trying for new hods

DJIA +113

WUBA 42's

WUBA ~ all time highs....link back...41.85 +$4.72

thank you....now time for me to leave so I don't get all crazy again!

really moving....daily is looking nice...

news can push this one up/down quickly....

crazy mkt....come back and everything is up lots of $$$$'s

big amounts everywhere....

heck SODA is even green....for the moment...

GOGO ~ daily

double bottom at 23.30ish......

????

GOGO ~ $960 trade

took about an hour

ok....had it in for $24 buy this a.m. and saw it didn't fill when I got home around lunch time.

changed to $25 and although it was a bit risky, felt it could go

my changed order went through....then it paused and 74K appeared on the ask at 25....

bought another 1000 shares there at 1:02

then poof....they let it go

daily chart had Ma50 at 25.53 so to be safe, set sell at 24.48 which went thru and continued to run hod was 25.72

will see where it closes and might play it again....

I feel better and will try not to be so hard on myself...

1:49 PM
01/07/2014
Sell
GOGO
2000
Limit
$25.48
Day
Executed
@ $25.48
1:02 PM
01/07/2014
Buy
GOGO
1000
Limit
$25.00
Day
Executed
@ $25.00
9:27 AM <---- changed order, but still had my a.m. time stamp
01/07/2014
Buy
GOGO
1000
Limit
$25.00
Day
Executed

Frontrunning:

Frontrunning: January 7
Tyler Durden's pictureSubmitted by Tyler Durden on 01/07/2014 07:40 -0500

Activist Shareholder Berkshire Hathaway Bernard Madoff Boeing Capital Markets Carl Icahn China Cohen Consumer Confidence Federal Reserve Fisher Florida General Electric Goldman Sachs goldman sachs Google India Insider Trading Investment Grade Janet Yellen JPMorgan Chase LIBOR Markit Morgan Stanley Nikkei Nomination Prudential Puerto Rico RBS Recession recovery Reuters Royal Bank of Scotland SAC Sirius XM United Kingdom Wall Street Journal




inShare


Yellen’s Record-Low Senate Support Reflects Fed’s Politicization (BBG)
Euro-Zone Inflation Rate Falls in December, even further below ECB's target (WSJ)
Zambia politician charged for calling president a potato (AFP)
Blame gold: India Savings Deposit Scam Collapse Leaves Thousands Penniless (BBG)
Hedge Funds Raise Gold Wagers as Yamada Sees $1,000 (BBG)
George Osborne limits cuts options with pensions promise (FT)
Vietnam Raises Foreign Bank Ownership Caps to Aid System (BBG)
But they said buy a year ago... Goldman to JPMorgan Say Sell Emerging Markets After Slide (BBG)
SAC Trial Seen by Probe Convict as Latest Abusive Tactic (BBG)
What euro crisis watchers should look for in 2014 (Munchau)
Abe pledges to create virtuous economic cycle (Nikkei)
Berkshire Stakes Name on Realty Business Buffett Barely Noticed (BBG)


Overnight Media Digest

WSJ

* The Senate on Monday confirmed Janet Yellen to head the Federal Reserve, setting her up to take office Feb. 1 as one of the most powerful economic policy makers in the world.

* The trading boom that helped reshape global investment banks over the past decade is sputtering, raising fears that one of Wall Street's biggest profit engines is in peril.

* Ethiopia's Chinese-built mobile-telecom network faces criticism that illustrates the broader troubles sometimes facing poorer nations that borrow heavily to invest in infrastructure.

* Puerto Rico is experiencing a historic exodus of residents fleeing the island's battered economy and rampant crime. From 2000 to 2010, a net 288,000 people left for the U.S. mainland, the most since the 1950s.

* Restaurants and other customers are starting to fear the clout of the industry giant that would be created by a planned merger between the country's two biggest food distributors - Sysco Corp and US Foods Inc.

* JPMorgan Chase officials won't be penalized as part of a deal the U.S. bank is negotiating with the Justice Department over alleged failures to warn about Bernard Madoff's massive fraud.

* AT&T formally opened the door for content companies like Google and Netflix to subsidize the cost of using their services on smartphones and tablets.

* The Swiss central bank said the drop in gold prices will saddle it with a $10 billion loss for 2013, forcing it to cancel dividends for the first time.

* Natural-gas prices surged to all-time highs on the East Coast on Monday as frigid weather approached, raising the prospect of higher prices nationwide in coming weeks.

* Men's Wearhouse Inc bumped up its offer to buy Jos. A. Bank Clothiers Inc to about $1.6 billion, the latest in a months-long acquisition battle between the rival men's clothing retailers.



FT

Deutsche Bank faces fresh pressure from regulators to reform its corporate culture over the Libor scandal, after extracts from a report by Bafin, Germany's financial regulator, was leaked to German media - suggesting that the bank had not done enough to restore its reputation.

General Electric Co said it would buy three businesses from Thermo Fisher Scientific Inc for $1.06 billion, a deal that will boost the industrial conglomerate's life sciences division and take forward its ambition of moving into high-tech, high-profit-margin areas of the market.

Britain's financial regulators, Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), have launched an investigation into problems at the Co-operative Bank , kicking off what threatens to be a difficult year for the lender as it tries to rebuild its reputation following scandals.

British car sales grew by more than 10 percent last year to hit a five-year high, as abundant cheap credit and improved consumer confidence made the country's car market the most buoyant in Europe.

Benny Landa, a leading activist shareholder in Teva Pharmaceutical Industries, the world's largest generic drugmaker, has lent his support for the proposed nomination of Erez Vigodman as its new chief executive officer.

Coated paper maker Verso Paper Corp said it would buy privately held rival NewPage Holdings Inc for about $1.4 billion, including debt, as the sector that's been hit by falling demand and overcapacity continues to consolidate.



NYT

* The Senate confirmed Janet Yellen as the chairwoman of the Federal Reserve on Monday, marking the first time that a woman will lead the country's central bank in its 100-year history.

* A wave of frigid weather forced airlines to cancel flights, stranding passengers from Fort Lauderdale, Florida, to Los Angeles. Compounding the issue were new regulations requiring more rest time for pilots beginning this year.

* National health spending grew slowly for the fourth consecutive year, increasing 3.7 percent in 2012 to $2.8 trillion, the federal government said Monday. But officials disagreed over whether the Affordable Care Act or lingering effects of the recession were primarily responsible for the trend.

* On Tuesday, jury selection will begin in Federal District Court in Lower Manhattan for the insider trading case against Mathew Martoma, a former trader at SAC Capital Advisors. The trial, which is expected to last nearly a month, will shed light on the role of the hedge fund owner -- Steven Cohen.

* Glenn Hadden, head of global rates at Morgan Stanley , left on Monday after three years at the firm, according to a company memo. Hadden, one of the bank's highest-paid executives, was asked to resign, according to a person briefed on the matter. Hadden was hired to revitalize Morgan Stanley's business that trades government bonds and other instruments but the division racked up sizable losses.

* Metro-North Railroad's president, Howard Permut, is stepping down, according to several sources with knowledge of the move, after a year marred by a train collision, a worker's death and the first passenger fatalities in Metro-North's three-decade history.

* AT&T on Monday announced a program called Sponsored Data, where businesses working with AT&T can pay for the data that is used to consume their content or services so that it does not show up on a customer's phone bill. AT&T named three initial partners for the program - Aquto, an ad platform that provides marketers tools to use sponsored data, Kony Solutions, which helps businesses develop apps, and health care company UnitedHealth Group.

* Samsung Electronics introduced four new tablets aimed at professional users, including two 12.2-inch tablets - the Galaxy NotePRO and the TabPRO. These are much larger than Apple's 9.7-inch iPad, Microsoft's 10.6-inch Surface 2 and Amazon's 8.9-inch Kindle Fire.



Canada

THE GLOBE AND MAIL

* Prime Minister Stephen Harper said his cabinet will balance economic and environmental interests as it makes a final decision on whether to approve Enbridge Corp's proposed Northern Gateway $6-billion project to link the Alberta oil sands with Kitimat, British Columbia.

* Blackouts in storm-battered Newfoundland have reignited a debate over the provincial government's handling of its aging energy infrastructure and its future reliance on the Muskrat Falls hydroelectric megaproject in Labrador.

Reports in the business section:

* Edward Hadden, one of the most prominent Canadians on Wall Street, left his position at investment bank Morgan Stanley . Hadden, 43, was the global head of interest-rate trading for the firm, which he joined in 2011.

NATIONAL POST

* A breakaway militant group looking to form a semi-autonomous state in eastern Libya has hired controversial Montreal-based lobbyist Ari Ben-Menashe to help it achieve international recognition, sell the region's oil and obtain cash for military hardware and training.

* Former Toronto city councillor and businessman David Soknacki has officially registered to run for mayor this year, vowing to bring "higher standards" to the campaign and the job.

FINANCIAL POST

* Canadian oil and gas companies are gearing up to recruit actively this year after hiring in the sector fell below expectations in 2013.

Of 80 Canadian oil and gas employers surveyed by recruitment specialists Hays Canada, 23 percent saw a decrease in permanent headcount in 2013, as project cancellations and low commodity prices compelled many companies to go back to the drawing board and defer hiring plans.



China

CHINA SECURITIES JOURNAL

- China must encourage securities traders to take responsibility for their sales, even as the principle of caveat emptor is strengthened, to build protection for small investors, said Xiao Gang, chairman of the China Securities Regulatory Commission at a meeting held on Tuesday.

- China should use capital markets to increase the growth of public pension funds, said Qi Bin, director of the China Securities Regulatory Commission's research centre recently.

CHINA DAILY

- The sudden death of Li Ming, founder and chairman of Beijing Galloping Horse Media Co Ltd, may hamper its business prospects and impede the impending initial public offering, said industry analysts of the private entertainment and media firm.

CHINA BUSINESS NEWS

- The China Banking Regulatory Commission will approve 3 to 5 pilot private banks this year, as part of its plans to further liberalize the financial markets, according to the regulator in a Tuesday meeting.

SHANGHAI DAILY

- China-located foreign banks plan to expand their advisory departments, as Chinese companies continue to expand abroad, said Ernst & Young on Tuesday.

- Most elevators checked for quality in Shanghai failed to pass safety tests, said the Shanghai Municipal Bureau of Quality and Technical Supervision. A total of 616 elevators were checked in six districts, with 393 needing overall fixing, 117 needing maintenance and 106 needing renovation.

PEOPLE'S DAILY

- The landing of China's Jade Rabbit on the moon has successfully fulfilled an ancient nation's thousand-year dream, said a commentary in the paper that acts as the Party's mouthpiece. The landing highlights the country's commitment to aerospace innovation, it said.



Britain

The Telegraph

JPMORGAN SET TO BE FINED $2 BLN FOR ALLEGEDLY IGNORING BERNARD MADOFF PONZI SCHEME

Regulators and federal prosecutors in the United States are preparing to fine JPMorgan Chase & Co about $2 billion, after it allegedly ignored signs of Bernie Madoff's Ponzi scheme. The fine will take the investment bank's penalties to $22.2 billion, more than a fifth of its revenues.

BRITISH CAR MARKET RECORDS BEST YEAR FOR SALES SINCE 2007, SAYS SMMT

A combination of cheap credit and improved consumer confidence saw households buy more than 2.26 million vehicles in the past 12 months, a rise of 10.5 percent on 2012.

The Guardian

REGULATORS LAUNCH INVESTIGATIONS INTO CO-OP BANK'S 1.5 BLN STG CAPITAL SHORTFALL

Former directors of the Co-operative Bank face fines and bans from the financial services industry after two more investigations - by the Prudential Regulation Authority and the Financial Conduct Authority - into the events leading up to its 1.5 billion pounds bailout were announced.

BUSINESSES WARN LENDING CURBS WILL HIT RECOVERY

Britain's rapid recovery will be hampered in 2014 unless the government acts to encourage corporate lending, the British Chambers of Commerce warned.

The Times

ROUTE MAP WRITTEN AS YELLEN TAKES DRIVING SEAT

Janet Yellen was on Monday night confirmed by the U.S. Senate as the new head of the Federal Reserve, with the central bank's immediate strategy already mapped out for her.

SERVICES GROWTH COMPLETES HAT-TRICK FOR ECONOMY

All three key sectors of the economy powered ahead at their fastest pace since 1998 in the three months to December, fuelling speculation that growth will have surged by almost 2 percent last year. The Markit/CIPS purchasing managers' index of the manufacturing, construction and services sectors rose from 60.1 between July and September to 60.5 in the final quarter of 2013.

The Independent

GEORGE OSBORNE INSISTS BRITAIN MUST MAKE 25 BLN STG MORE WELFARE CUTS IN 2014

George Osborne was accused of targeting the poor and vulnerable and sparing the rich as he outlined 25 billion pounds of new spending cuts, with half of them coming from the welfare budget.

SOFTER EUROPEAN RING-FENCE RULES COULD HURT UK BANKS

European banking watchdogs could allow banks to evade tough rules designed to ensure that lending operations are ring fenced from "casino" investment banking. The new regulation would hit 30 of the continent's biggest banks, including the big players in Britain.



Fly On The Wall 7:00 AM Market Snapshot

ANALYST RESEARCH

Upgrades

Arthur J. Gallagher (AJG) upgraded to Overweight from Equal Weight at Barclays
Becton Dickinson (BDX) upgraded to Neutral from Underperform at BofA/Merrill
Brandywine Realty (BDN) upgraded to Outperform from Market Perform at Raymond James
Brown & Brown (BRO) upgraded to Overweight from Equal Weight at Barclays
Capital One (COF) upgraded to Conviction Buy from Buy at Goldman
Continental Resources (CLR) upgraded to Buy from Neutral at BofA/Merrill
Covance (CVD) upgraded to Buy from Hold at Jefferies
Equity Lifestyle (ELS) upgraded to Outperform from Market Perform at Wells Fargo
Johnson & Johnson (JNJ) upgraded to Outperform from Sector Perform at RBC Capital
Logitech (LOGI) upgraded to Equal Weight from Underweight at Barclays
PacWest Bancorp (PACW) upgraded to Overweight from Equal Weight at Evercore
Pall Corp. (PLL) upgraded to Buy from Neutral at BofA/Merrill
Splunk (SPLK) upgraded to Buy from Neutral at UBS
St. Jude Medical (STJ) upgraded to Sector Perform from Underperform at RBC Capital
Sun Communities (SUI) upgraded to Outperform from Market Perform at Wells Fargo
SunTrust (STI) upgraded to Outperform from Market Perform at BMO Capital
UnitedHealth (UNH) upgraded to Buy from Hold at Deutsche Bank
Varian Medical (VAR) upgraded to Neutral from Sell at Citigroup
Workday (WDAY) upgraded to Buy from Neutral at UBS
Yum! Brands (YUM) upgraded to Top Pick from Outperform at RBC Capital

Downgrades

AEGON (AEG) downgraded to Neutral from Overweight at JPMorgan
Acadia Healthcare (ACHC) downgraded to Neutral from Buy at Citigroup
Baxter (BAX) downgraded to Sector Perform from Outperform at RBC Capital
CGG SA (CGG) downgraded to Neutral from Outperform at Exane BNP Paribas
CSR (CSRE) downgraded to Underweight from Equal Weight at Barclays
CVB Financial (CVBF) downgraded to Equal Weight from Overweight at Evercore
Campus Crest (CCG) downgraded to Market Perform from Outperform at Raymond James
Charles Schwab (SCHW) downgraded to Neutral from Buy at Citigroup
Check Point (CHKP) downgraded to Neutral from Buy at UBS
Chesapeake (CHK) downgraded to Neutral from Buy at BofA/Merrill
Chubb (CB) downgraded to Equal Weight from Overweight at Barclays
Cooper Companies (COO) downgraded to Sell from Neutral at Citigroup
Cross Country Healthcare (CCRN) downgraded to Neutral from Buy at Citigroup
CubeSmart (CUBE) downgraded to Market Perform from Outperform at Wells Fargo
Energizer (ENR) downgraded to Market Perform from Outperform at Wells Fargo
Gulfport Energy (GPOR) downgraded to Sector Perform from Outperform at RBC Capital
Humana (HUM) downgraded to Sell from Hold at Deutsche Bank
Michael Kors (KORS) downgraded to Neutral from Buy at Citigroup
MoneyGram (MGI) downgraded to Neutral from Overweight at Piper Jaffray
Netflix (NFLX) downgraded to Underweight from Equal Weight at Morgan Stanley
Omega Healthcare (OHI) downgraded to Underperform from Market Perform at Wells Fargo
Post Properties (PPS) downgraded to Outperform from Strong Buy at Raymond James
RenaissanceRe (RNR) downgraded to Equal Weight from Overweight at Barclays
STMicroelectronics (STM) downgraded to Underweight from Equal Weight at Barclays
Senior Housing (SNH) downgraded to Underperform from Market Perform at Wells Fargo
Sovran Self Storage (SSS) downgraded to Market Perform from Outperform at Wells Fargo
Spectranetics (SPNC) downgraded to Neutral from Buy at Citigroup
Spirit AeroSystems (SPR) downgraded to Neutral from Buy at BofA/Merrill
TD Ameritrade (AMTD) downgraded to Neutral from Buy at Citigroup
Textron (TXT) downgraded to Neutral from Buy at BofA/Merrill
Validus (VR) downgraded to Equal Weight from Overweight at Barclays
XPO Logistics (XPO) downgraded to Hold from Buy at Stifel

Initiations

ANI Pharmaceuticals (ANIP) initiated with a Buy at Roth Capital
AcelRx (ACRX) initiated with an Outperform at RBC Capital
Actavis (ACT) initiated with an Outperform at RBC Capital
Akorn (AKRX) initiated with an Outperform at RBC Capital
Allergan (AGN) initiated with an Outperform at RBC Capital
Cheniere Energy Partners (CQH) initiated with an Outperform at Credit Suisse
Cheniere Energy Partners (CQH) initiated with an Outperform at RBC Capital
Cheniere Energy Partners (CQP) initiated with a Neutral at Goldman
Cheniere Energy Partners (CQP) initiated with an Outperform at Credit Suisse
Cheniere Energy (LNG) initiated with a Buy at Goldman
General Growth (GGP) initiated with an Outperform at Oppenheimer
Highwoods Properties (HIW) initiated with an Outperform at Oppenheimer
Impax (IPXL) initiated with a Sector Perform at RBC Capital
Liberty Property (LRY) initiated with an Outperform at Oppenheimer
Manitowoc (MTW) initiated with a Hold at Jefferies
Mylan (MYL) initiated with an Outperform at RBC Capital
Nimble Storage (NMBL) initiated with a Neutral at Goldman
Perrigo (PRGO) initiated with a Top Pick at RBC Capital
Physicians Realty Trust (DOC) initiated with an Outperform at Oppenheimer
Piedmont Office Realty (PDM) initiated with a Perform at Oppenheimer
Realty Income (O) initiated with an Outperform at Oppenheimer
Sagent Pharmaceuticals (SGNT) initiated with an Underperform at RBC Capital
Taubman Centers (TCO) initiated with a Perform at Oppenheimer
Terex (TEX) initiated with a Hold at Jefferies
Teva (TEVA) initiated with a Sector Perform at RBC Capital

HOT STOCKS

Convergys (CVG) to acquire Stream Global Services for $820M in cash
U.S. Bancorp (USB) to buy over 100 Chicago-area Charter One branches owned by Royal Bank of Scotland (RBS), Crain's reports
AT&T (T), Ericsson (ERIC) announced deal for in-vehicle technology
Excel Trust (EXL) announced Moody’s assigned it an investment grade rating of (P)Baa3 with a stable outlook
Denny's (DENN) signed development agreement to open 30 restaurants in Middle East

EARNINGS

Companies that beat consensus earnings expectations last night and today include:
IHS Inc. (IHS)

Companies that matched consensus earnings expectations include:
Synergy Resources (SYRG), Sonic (SONC)

NEWSPAPERS/WEBSITES

The trading boom that helped reshape global investment banks over the past decade is sputtering, raising fears that one of Wall Street's biggest profit engines is in peril. Executives have warned that lackluster markets could lead to year-over-year declines in fixed-income, commodities and currency trading revenue when banks begin reporting Q4 results, the Wall Street Journal reports
While 2013 was a tough one for the coal industry, it isn't going away. Coal remains the biggest source of fuel for generating electricity (BTU, ACI, ANR, CLD) in the U.S. and coal exports are growing fast. Overall, U.S. coal production is projected to remain relatively constant over the next three decades, the Wall Street Journal reports
Some Boeing (BA) machinists plan to push for a recount or even a new vote on their latest labor contract with the aircraft maker, possibly extending a long-running drama over which state will get to work on Boeing's new 777X jet, Reuters reports
Consumer advocate and Sirius (SIRI) shareholder Ralph Nader says Liberty Media (LMCA) Chairman Malone's offer to buy out the remaining stake in satellite radio company Sirius XM was "ludicrous" and called for activist investor Carl Icahn to take notice, Reuters reports
Wall Street’s biggest banks--from Goldman Sachs (GS) to JP Morgan (JPM) to Morgan Stanley (MS)--say the slump in emerging-market assets that left equities trailing advanced-nation shares by the most since 1998 last year will prove more than a fleeting sell-off, Bloomberg reports
BYD Co., the Chinese automaker backed by Berkshire Hathaway (BRK.A), says Chinese cars are poised to begin hitting U.S. showrooms at the end of next year, Bloomberg reports
SYNDICATE

Centene (CNC) files to sell 2.43M shares of common stock for holders
Kennedy Wilson (KW) files to sell 8M common shares
New York Mortgage (NYMT) files to sell 10M common shares
PBF Energy (PBF) files to sell 15M common shares for holders
Parkway Properties (PKY) files to sell 10.5M common shares
Receptos (RCPT) files to sell 2.75M shares of common stock
Rouse Properties (RSE) files to sell 7M shares of common stock
Virtusa (VRTU) files to sell 2.3M common shares

Average:
0
Your rating: None

Cheniere Energy (LNG) initiated with a Buy at Goldman

Frontrunning:

Frontrunning: January 7
Tyler Durden's pictureSubmitted by Tyler Durden on 01/07/2014 07:40 -0500

Activist Shareholder Berkshire Hathaway Bernard Madoff Boeing Capital Markets Carl Icahn China Cohen Consumer Confidence Federal Reserve Fisher Florida General Electric Goldman Sachs goldman sachs Google India Insider Trading Investment Grade Janet Yellen JPMorgan Chase LIBOR Markit Morgan Stanley Nikkei Nomination Prudential Puerto Rico RBS Recession recovery Reuters Royal Bank of Scotland SAC Sirius XM United Kingdom Wall Street Journal




inShare


Yellen’s Record-Low Senate Support Reflects Fed’s Politicization (BBG)
Euro-Zone Inflation Rate Falls in December, even further below ECB's target (WSJ)
Zambia politician charged for calling president a potato (AFP)
Blame gold: India Savings Deposit Scam Collapse Leaves Thousands Penniless (BBG)
Hedge Funds Raise Gold Wagers as Yamada Sees $1,000 (BBG)
George Osborne limits cuts options with pensions promise (FT)
Vietnam Raises Foreign Bank Ownership Caps to Aid System (BBG)
But they said buy a year ago... Goldman to JPMorgan Say Sell Emerging Markets After Slide (BBG)
SAC Trial Seen by Probe Convict as Latest Abusive Tactic (BBG)
What euro crisis watchers should look for in 2014 (Munchau)
Abe pledges to create virtuous economic cycle (Nikkei)
Berkshire Stakes Name on Realty Business Buffett Barely Noticed (BBG)


Overnight Media Digest

WSJ

* The Senate on Monday confirmed Janet Yellen to head the Federal Reserve, setting her up to take office Feb. 1 as one of the most powerful economic policy makers in the world.

* The trading boom that helped reshape global investment banks over the past decade is sputtering, raising fears that one of Wall Street's biggest profit engines is in peril.

* Ethiopia's Chinese-built mobile-telecom network faces criticism that illustrates the broader troubles sometimes facing poorer nations that borrow heavily to invest in infrastructure.

* Puerto Rico is experiencing a historic exodus of residents fleeing the island's battered economy and rampant crime. From 2000 to 2010, a net 288,000 people left for the U.S. mainland, the most since the 1950s.

* Restaurants and other customers are starting to fear the clout of the industry giant that would be created by a planned merger between the country's two biggest food distributors - Sysco Corp and US Foods Inc.

* JPMorgan Chase officials won't be penalized as part of a deal the U.S. bank is negotiating with the Justice Department over alleged failures to warn about Bernard Madoff's massive fraud.

* AT&T formally opened the door for content companies like Google and Netflix to subsidize the cost of using their services on smartphones and tablets.

* The Swiss central bank said the drop in gold prices will saddle it with a $10 billion loss for 2013, forcing it to cancel dividends for the first time.

* Natural-gas prices surged to all-time highs on the East Coast on Monday as frigid weather approached, raising the prospect of higher prices nationwide in coming weeks.

* Men's Wearhouse Inc bumped up its offer to buy Jos. A. Bank Clothiers Inc to about $1.6 billion, the latest in a months-long acquisition battle between the rival men's clothing retailers.



FT

Deutsche Bank faces fresh pressure from regulators to reform its corporate culture over the Libor scandal, after extracts from a report by Bafin, Germany's financial regulator, was leaked to German media - suggesting that the bank had not done enough to restore its reputation.

General Electric Co said it would buy three businesses from Thermo Fisher Scientific Inc for $1.06 billion, a deal that will boost the industrial conglomerate's life sciences division and take forward its ambition of moving into high-tech, high-profit-margin areas of the market.

Britain's financial regulators, Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), have launched an investigation into problems at the Co-operative Bank , kicking off what threatens to be a difficult year for the lender as it tries to rebuild its reputation following scandals.

British car sales grew by more than 10 percent last year to hit a five-year high, as abundant cheap credit and improved consumer confidence made the country's car market the most buoyant in Europe.

Benny Landa, a leading activist shareholder in Teva Pharmaceutical Industries, the world's largest generic drugmaker, has lent his support for the proposed nomination of Erez Vigodman as its new chief executive officer.

Coated paper maker Verso Paper Corp said it would buy privately held rival NewPage Holdings Inc for about $1.4 billion, including debt, as the sector that's been hit by falling demand and overcapacity continues to consolidate.



NYT

* The Senate confirmed Janet Yellen as the chairwoman of the Federal Reserve on Monday, marking the first time that a woman will lead the country's central bank in its 100-year history.

* A wave of frigid weather forced airlines to cancel flights, stranding passengers from Fort Lauderdale, Florida, to Los Angeles. Compounding the issue were new regulations requiring more rest time for pilots beginning this year.

* National health spending grew slowly for the fourth consecutive year, increasing 3.7 percent in 2012 to $2.8 trillion, the federal government said Monday. But officials disagreed over whether the Affordable Care Act or lingering effects of the recession were primarily responsible for the trend.

* On Tuesday, jury selection will begin in Federal District Court in Lower Manhattan for the insider trading case against Mathew Martoma, a former trader at SAC Capital Advisors. The trial, which is expected to last nearly a month, will shed light on the role of the hedge fund owner -- Steven Cohen.

* Glenn Hadden, head of global rates at Morgan Stanley , left on Monday after three years at the firm, according to a company memo. Hadden, one of the bank's highest-paid executives, was asked to resign, according to a person briefed on the matter. Hadden was hired to revitalize Morgan Stanley's business that trades government bonds and other instruments but the division racked up sizable losses.

* Metro-North Railroad's president, Howard Permut, is stepping down, according to several sources with knowledge of the move, after a year marred by a train collision, a worker's death and the first passenger fatalities in Metro-North's three-decade history.

* AT&T on Monday announced a program called Sponsored Data, where businesses working with AT&T can pay for the data that is used to consume their content or services so that it does not show up on a customer's phone bill. AT&T named three initial partners for the program - Aquto, an ad platform that provides marketers tools to use sponsored data, Kony Solutions, which helps businesses develop apps, and health care company UnitedHealth Group.

* Samsung Electronics introduced four new tablets aimed at professional users, including two 12.2-inch tablets - the Galaxy NotePRO and the TabPRO. These are much larger than Apple's 9.7-inch iPad, Microsoft's 10.6-inch Surface 2 and Amazon's 8.9-inch Kindle Fire.



Canada

THE GLOBE AND MAIL

* Prime Minister Stephen Harper said his cabinet will balance economic and environmental interests as it makes a final decision on whether to approve Enbridge Corp's proposed Northern Gateway $6-billion project to link the Alberta oil sands with Kitimat, British Columbia.

* Blackouts in storm-battered Newfoundland have reignited a debate over the provincial government's handling of its aging energy infrastructure and its future reliance on the Muskrat Falls hydroelectric megaproject in Labrador.

Reports in the business section:

* Edward Hadden, one of the most prominent Canadians on Wall Street, left his position at investment bank Morgan Stanley . Hadden, 43, was the global head of interest-rate trading for the firm, which he joined in 2011.

NATIONAL POST

* A breakaway militant group looking to form a semi-autonomous state in eastern Libya has hired controversial Montreal-based lobbyist Ari Ben-Menashe to help it achieve international recognition, sell the region's oil and obtain cash for military hardware and training.

* Former Toronto city councillor and businessman David Soknacki has officially registered to run for mayor this year, vowing to bring "higher standards" to the campaign and the job.

FINANCIAL POST

* Canadian oil and gas companies are gearing up to recruit actively this year after hiring in the sector fell below expectations in 2013.

Of 80 Canadian oil and gas employers surveyed by recruitment specialists Hays Canada, 23 percent saw a decrease in permanent headcount in 2013, as project cancellations and low commodity prices compelled many companies to go back to the drawing board and defer hiring plans.



China

CHINA SECURITIES JOURNAL

- China must encourage securities traders to take responsibility for their sales, even as the principle of caveat emptor is strengthened, to build protection for small investors, said Xiao Gang, chairman of the China Securities Regulatory Commission at a meeting held on Tuesday.

- China should use capital markets to increase the growth of public pension funds, said Qi Bin, director of the China Securities Regulatory Commission's research centre recently.

CHINA DAILY

- The sudden death of Li Ming, founder and chairman of Beijing Galloping Horse Media Co Ltd, may hamper its business prospects and impede the impending initial public offering, said industry analysts of the private entertainment and media firm.

CHINA BUSINESS NEWS

- The China Banking Regulatory Commission will approve 3 to 5 pilot private banks this year, as part of its plans to further liberalize the financial markets, according to the regulator in a Tuesday meeting.

SHANGHAI DAILY

- China-located foreign banks plan to expand their advisory departments, as Chinese companies continue to expand abroad, said Ernst & Young on Tuesday.

- Most elevators checked for quality in Shanghai failed to pass safety tests, said the Shanghai Municipal Bureau of Quality and Technical Supervision. A total of 616 elevators were checked in six districts, with 393 needing overall fixing, 117 needing maintenance and 106 needing renovation.

PEOPLE'S DAILY

- The landing of China's Jade Rabbit on the moon has successfully fulfilled an ancient nation's thousand-year dream, said a commentary in the paper that acts as the Party's mouthpiece. The landing highlights the country's commitment to aerospace innovation, it said.



Britain

The Telegraph

JPMORGAN SET TO BE FINED $2 BLN FOR ALLEGEDLY IGNORING BERNARD MADOFF PONZI SCHEME

Regulators and federal prosecutors in the United States are preparing to fine JPMorgan Chase & Co about $2 billion, after it allegedly ignored signs of Bernie Madoff's Ponzi scheme. The fine will take the investment bank's penalties to $22.2 billion, more than a fifth of its revenues.

BRITISH CAR MARKET RECORDS BEST YEAR FOR SALES SINCE 2007, SAYS SMMT

A combination of cheap credit and improved consumer confidence saw households buy more than 2.26 million vehicles in the past 12 months, a rise of 10.5 percent on 2012.

The Guardian

REGULATORS LAUNCH INVESTIGATIONS INTO CO-OP BANK'S 1.5 BLN STG CAPITAL SHORTFALL

Former directors of the Co-operative Bank face fines and bans from the financial services industry after two more investigations - by the Prudential Regulation Authority and the Financial Conduct Authority - into the events leading up to its 1.5 billion pounds bailout were announced.

BUSINESSES WARN LENDING CURBS WILL HIT RECOVERY

Britain's rapid recovery will be hampered in 2014 unless the government acts to encourage corporate lending, the British Chambers of Commerce warned.

The Times

ROUTE MAP WRITTEN AS YELLEN TAKES DRIVING SEAT

Janet Yellen was on Monday night confirmed by the U.S. Senate as the new head of the Federal Reserve, with the central bank's immediate strategy already mapped out for her.

SERVICES GROWTH COMPLETES HAT-TRICK FOR ECONOMY

All three key sectors of the economy powered ahead at their fastest pace since 1998 in the three months to December, fuelling speculation that growth will have surged by almost 2 percent last year. The Markit/CIPS purchasing managers' index of the manufacturing, construction and services sectors rose from 60.1 between July and September to 60.5 in the final quarter of 2013.

The Independent

GEORGE OSBORNE INSISTS BRITAIN MUST MAKE 25 BLN STG MORE WELFARE CUTS IN 2014

George Osborne was accused of targeting the poor and vulnerable and sparing the rich as he outlined 25 billion pounds of new spending cuts, with half of them coming from the welfare budget.

SOFTER EUROPEAN RING-FENCE RULES COULD HURT UK BANKS

European banking watchdogs could allow banks to evade tough rules designed to ensure that lending operations are ring fenced from "casino" investment banking. The new regulation would hit 30 of the continent's biggest banks, including the big players in Britain.



Fly On The Wall 7:00 AM Market Snapshot

ANALYST RESEARCH

Upgrades

Arthur J. Gallagher (AJG) upgraded to Overweight from Equal Weight at Barclays
Becton Dickinson (BDX) upgraded to Neutral from Underperform at BofA/Merrill
Brandywine Realty (BDN) upgraded to Outperform from Market Perform at Raymond James
Brown & Brown (BRO) upgraded to Overweight from Equal Weight at Barclays
Capital One (COF) upgraded to Conviction Buy from Buy at Goldman
Continental Resources (CLR) upgraded to Buy from Neutral at BofA/Merrill
Covance (CVD) upgraded to Buy from Hold at Jefferies
Equity Lifestyle (ELS) upgraded to Outperform from Market Perform at Wells Fargo
Johnson & Johnson (JNJ) upgraded to Outperform from Sector Perform at RBC Capital
Logitech (LOGI) upgraded to Equal Weight from Underweight at Barclays
PacWest Bancorp (PACW) upgraded to Overweight from Equal Weight at Evercore
Pall Corp. (PLL) upgraded to Buy from Neutral at BofA/Merrill
Splunk (SPLK) upgraded to Buy from Neutral at UBS
St. Jude Medical (STJ) upgraded to Sector Perform from Underperform at RBC Capital
Sun Communities (SUI) upgraded to Outperform from Market Perform at Wells Fargo
SunTrust (STI) upgraded to Outperform from Market Perform at BMO Capital
UnitedHealth (UNH) upgraded to Buy from Hold at Deutsche Bank
Varian Medical (VAR) upgraded to Neutral from Sell at Citigroup
Workday (WDAY) upgraded to Buy from Neutral at UBS
Yum! Brands (YUM) upgraded to Top Pick from Outperform at RBC Capital

Downgrades

AEGON (AEG) downgraded to Neutral from Overweight at JPMorgan
Acadia Healthcare (ACHC) downgraded to Neutral from Buy at Citigroup
Baxter (BAX) downgraded to Sector Perform from Outperform at RBC Capital
CGG SA (CGG) downgraded to Neutral from Outperform at Exane BNP Paribas
CSR (CSRE) downgraded to Underweight from Equal Weight at Barclays
CVB Financial (CVBF) downgraded to Equal Weight from Overweight at Evercore
Campus Crest (CCG) downgraded to Market Perform from Outperform at Raymond James
Charles Schwab (SCHW) downgraded to Neutral from Buy at Citigroup
Check Point (CHKP) downgraded to Neutral from Buy at UBS
Chesapeake (CHK) downgraded to Neutral from Buy at BofA/Merrill
Chubb (CB) downgraded to Equal Weight from Overweight at Barclays
Cooper Companies (COO) downgraded to Sell from Neutral at Citigroup
Cross Country Healthcare (CCRN) downgraded to Neutral from Buy at Citigroup
CubeSmart (CUBE) downgraded to Market Perform from Outperform at Wells Fargo
Energizer (ENR) downgraded to Market Perform from Outperform at Wells Fargo
Gulfport Energy (GPOR) downgraded to Sector Perform from Outperform at RBC Capital
Humana (HUM) downgraded to Sell from Hold at Deutsche Bank
Michael Kors (KORS) downgraded to Neutral from Buy at Citigroup
MoneyGram (MGI) downgraded to Neutral from Overweight at Piper Jaffray
Netflix (NFLX) downgraded to Underweight from Equal Weight at Morgan Stanley
Omega Healthcare (OHI) downgraded to Underperform from Market Perform at Wells Fargo
Post Properties (PPS) downgraded to Outperform from Strong Buy at Raymond James
RenaissanceRe (RNR) downgraded to Equal Weight from Overweight at Barclays
STMicroelectronics (STM) downgraded to Underweight from Equal Weight at Barclays
Senior Housing (SNH) downgraded to Underperform from Market Perform at Wells Fargo
Sovran Self Storage (SSS) downgraded to Market Perform from Outperform at Wells Fargo
Spectranetics (SPNC) downgraded to Neutral from Buy at Citigroup
Spirit AeroSystems (SPR) downgraded to Neutral from Buy at BofA/Merrill
TD Ameritrade (AMTD) downgraded to Neutral from Buy at Citigroup
Textron (TXT) downgraded to Neutral from Buy at BofA/Merrill
Validus (VR) downgraded to Equal Weight from Overweight at Barclays
XPO Logistics (XPO) downgraded to Hold from Buy at Stifel

Initiations

ANI Pharmaceuticals (ANIP) initiated with a Buy at Roth Capital
AcelRx (ACRX) initiated with an Outperform at RBC Capital
Actavis (ACT) initiated with an Outperform at RBC Capital
Akorn (AKRX) initiated with an Outperform at RBC Capital
Allergan (AGN) initiated with an Outperform at RBC Capital
Cheniere Energy Partners (CQH) initiated with an Outperform at Credit Suisse
Cheniere Energy Partners (CQH) initiated with an Outperform at RBC Capital
Cheniere Energy Partners (CQP) initiated with a Neutral at Goldman
Cheniere Energy Partners (CQP) initiated with an Outperform at Credit Suisse
Cheniere Energy (LNG) initiated with a Buy at Goldman
General Growth (GGP) initiated with an Outperform at Oppenheimer
Highwoods Properties (HIW) initiated with an Outperform at Oppenheimer
Impax (IPXL) initiated with a Sector Perform at RBC Capital
Liberty Property (LRY) initiated with an Outperform at Oppenheimer
Manitowoc (MTW) initiated with a Hold at Jefferies
Mylan (MYL) initiated with an Outperform at RBC Capital
Nimble Storage (NMBL) initiated with a Neutral at Goldman
Perrigo (PRGO) initiated with a Top Pick at RBC Capital
Physicians Realty Trust (DOC) initiated with an Outperform at Oppenheimer
Piedmont Office Realty (PDM) initiated with a Perform at Oppenheimer
Realty Income (O) initiated with an Outperform at Oppenheimer
Sagent Pharmaceuticals (SGNT) initiated with an Underperform at RBC Capital
Taubman Centers (TCO) initiated with a Perform at Oppenheimer
Terex (TEX) initiated with a Hold at Jefferies
Teva (TEVA) initiated with a Sector Perform at RBC Capital

HOT STOCKS

Convergys (CVG) to acquire Stream Global Services for $820M in cash
U.S. Bancorp (USB) to buy over 100 Chicago-area Charter One branches owned by Royal Bank of Scotland (RBS), Crain's reports
AT&T (T), Ericsson (ERIC) announced deal for in-vehicle technology
Excel Trust (EXL) announced Moody’s assigned it an investment grade rating of (P)Baa3 with a stable outlook
Denny's (DENN) signed development agreement to open 30 restaurants in Middle East

EARNINGS

Companies that beat consensus earnings expectations last night and today include:
IHS Inc. (IHS)

Companies that matched consensus earnings expectations include:
Synergy Resources (SYRG), Sonic (SONC)

NEWSPAPERS/WEBSITES

The trading boom that helped reshape global investment banks over the past decade is sputtering, raising fears that one of Wall Street's biggest profit engines is in peril. Executives have warned that lackluster markets could lead to year-over-year declines in fixed-income, commodities and currency trading revenue when banks begin reporting Q4 results, the Wall Street Journal reports
While 2013 was a tough one for the coal industry, it isn't going away. Coal remains the biggest source of fuel for generating electricity (BTU, ACI, ANR, CLD) in the U.S. and coal exports are growing fast. Overall, U.S. coal production is projected to remain relatively constant over the next three decades, the Wall Street Journal reports
Some Boeing (BA) machinists plan to push for a recount or even a new vote on their latest labor contract with the aircraft maker, possibly extending a long-running drama over which state will get to work on Boeing's new 777X jet, Reuters reports
Consumer advocate and Sirius (SIRI) shareholder Ralph Nader says Liberty Media (LMCA) Chairman Malone's offer to buy out the remaining stake in satellite radio company Sirius XM was "ludicrous" and called for activist investor Carl Icahn to take notice, Reuters reports
Wall Street’s biggest banks--from Goldman Sachs (GS) to JP Morgan (JPM) to Morgan Stanley (MS)--say the slump in emerging-market assets that left equities trailing advanced-nation shares by the most since 1998 last year will prove more than a fleeting sell-off, Bloomberg reports
BYD Co., the Chinese automaker backed by Berkshire Hathaway (BRK.A), says Chinese cars are poised to begin hitting U.S. showrooms at the end of next year, Bloomberg reports
SYNDICATE

Centene (CNC) files to sell 2.43M shares of common stock for holders
Kennedy Wilson (KW) files to sell 8M common shares
New York Mortgage (NYMT) files to sell 10M common shares
PBF Energy (PBF) files to sell 15M common shares for holders
Parkway Properties (PKY) files to sell 10.5M common shares
Receptos (RCPT) files to sell 2.75M shares of common stock
Rouse Properties (RSE) files to sell 7M shares of common stock
Virtusa (VRTU) files to sell 2.3M common shares

Average:
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LinkedIn Corp. downgraded by Bank of America Corp. to neutral. http://stks.co/rpfC $LNKD

Premkt movers

Top Gaining Stocks

Price %Change
NBIX Neurocrine Biosci... 15.76 61.48%
STXS Stereotaxis Inc 5.55 38.75%
EPZM Epizyme Inc. 27.00 31.71%
VRS Verso Paper Corp.... 3.60 12.15%
CIDM Cinedigm Digital ... 2.49 11.16%
FRO Frontline 4.58 10.63%
CRAY Cray Inc. 29.95 10.27%
GALE Galena Biopharma ... 5.70 9.62%
ACET Aceto Corp. 25.18 7.74%
HSOL Hanwha Solarone C... 3.52 7.65%
USAT Usa Technologies ... 2.22 6.73%
SD Sandridge Energy ... 6.21 6.70%
LNG Cheniere Energy I... 46.20 6.70%
YGE Yingli Green Ener... 6.95 6.43%
GLUU Glu Mobile Inc. 4.15 5.60%
PANW Palo Alto Network... 61.00 5.46%
PSTI Pluristem Therape... 4.14 5.08%
IRBT irobot Corporatio... 35.44 5.01%
EONC eon Communication... 3.32 4.73%
PLUG Plug Power Inc. 2.90 4.69%

Top Losing Stocks
Price %Change
CYNI Cyan Inc 3.89 -24.76%
GNI Great Northern Ir... 30.00 -15.97%
GYRO Gyrodyne Company ... 7.16 -9.37%
UNXL Uni-pixel Inc. 8.89 -6.52%
PBF Pbf Energy 28.50 -4.71%
NFLX Netflix Inc. 345.00 -4.05%
NYMT New York Mortgage... 6.76 -3.98%
KW Kennedy-wilson Ho... 21.30 -3.58%
LNKD Linkedin 198.60 -2.61%
IBN Icici Bank Ltd. A... 34.78 -2.44%
HUM Humana Inc. 98.62 -2.12%
MAT Mattel, Inc 45.63 -2.12%
BHI Baker Hughes Inc.... 52.30 -2.06%
GPOR Gulfport Energy C... 58.00 -2.04%
CHK Chesapeake Energy... 25.75 -1.72%
STM Stmicroelectronic... 7.69 -1.66%
ACHC Acadia Healthcare... 47.58 -1.65%
CTIC Cell Therapeutics... 2.44 -1.61%
OHI Omega Healthcare ... 29.91 -1.58%
VXX Barclays Bank Plc... 42.10 -1.47%

Read more at http://thestockmarketwatch.com/markets/pre-market/#XP470BKO64A2PMY7.99

$NFLX downgraded at Morgan Stanley PT lowered to $310 from $330