Naz News, Gappers and FLE's

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Gapping up


In reaction to strong earnings/guidance: CAG +2.5%,

M&A news: WSH +7% (Willis Group and Towers Watson to combine in merger of equals), GLW +1.5% (acquires the pharmaceutical glass tubing business of Gerresheimer AG for EUR 196 mln), GE +0.8% (confirms Sumitomo Mitsui Banking (SMFG) has made an agreed offer to acquire GE's European Sponsor Finance business for ~$2.2 bln)

Select China related names showing strength; Shanghai +5.5% overnight: SFUN +4.6%, JMEI +4.3%, DANG +3.2%, QIHU +1.9%, BABA +1.5%

Other news: JUNO +33.3% (Juno Therapeutics and Celgene announce a collaboration on CAR-T and TCR cancer technologies; collaboration includes a $1 bln Celgene payment and acquisition of ~9.1 mln shares of Juno stock), CGIX +11.8% (awarded a multimillion dollar clinical trial in hematological cancers by a leading biotech company), NBG +11% (cont volatility in Greece), CLLS +9.7% (JUNO peer), PRAN +8.7% (announces the safety outcomes of the IMAGINE Extension study in patients with Alzheimer's disease), CYAD +7.5% (rebounding following yday decline), KITE +6.9% (following JUNO news), BLCM +6.2% (following JUNO news), ZIOP +5.7% (following JUNO news), PNR +4.9% (WSJ details news that Trian wants Pentair (PNR) to consider purchase of competitors in the space), AMCN +4.4% (Herman Man Guo (Chairman, CEO) discloses 17.16% active stake in 13D filing; as previously announced, Guo has made an offer to acquire all outstanding shares at $6 per ADS), MNGA +4.2% (reports the successful demonstration of its fuel to several utilities, and requests for additional follow-up demonstrations), AMD +3.8% (seeing reports that Microsoft (MSFT) approached the company regarding an acquisition several months ago), CMCM +3.8% (obtains increased annual fee caps from Tencent (TCEHY)), PTNR +3.7% (creates a new framework for relationship with Orange (ORAN)), SSYS +3.4% (cont volatility, large call option volume yday), FIT +3% (Blue Ridge Capital discloses 8.32% passive stake in 13G filing ), TASR +2.8% (receives an order for 300 Axon body-worn cameras and a five year subsciption to Evidence.com, from the Fresno Police Dept; order shipped in Q2), FCAU +2.7% (completes the syndication of its committed revolving credit facility; increasing its size to EUR 5 bln from EUR 4.8 bln, to be used for working capital and general purposes), BLUE +2% (following JUNO news), ABIO +2% (Growth Equity Opportunities discloses 21.3% active stake in 13D filing), FEYE +2% (cont vol), FGP +1.7% (Jamex, LLC discloses 9.5% passive stake in 13G filing), JKS +1.6% (amends it credit agreement, raising the limit to $40 mln from $20 mln), GIII +1.5% (favorable commentary on Monday's Mad Money), CYCC +1.3% (cont strength)

Analyst comments: ING +3.3% (upgraded to Buy from Neutral at BofA/Merrill), FIT +3.1% (initiated with a Outperform at RBC Capital Mkts), SRPT +1.8% (positive note from Oppenheimer), PBR +1.3% (upgraded to Hold from Reduce at HSBC)


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