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From Briefing.com: 4:15 pm : The major averages ended on a mixed note as the S&P 500 shed 0.3% while the Nasdaq added 0.1%.

Equities spent the entire session climbing off their early lows after weakness in Europe set the stage for a lower open. European indices hovered near their worst levels of the day at the outset of the U.S. session after the European Commission lowered its 2014 GDP forecast for the region to 1.1% from 1.2%. Similar to equities, core EU bonds also sold off as Germany's 10-yr yield added four basis points to 1.74% while the French 10-yr yield rose six basis points to 2.21%.

Although stocks began the U.S. session in negative territory, the buy-the-dip trade was at work once again, fueling a day-long rebound. The tech-heavy Nasdaq was able to eke out a modest gain thanks to the outperformance of biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 207.11, +1.44) rose 0.7%, extending its year-to-date advance to 51.1%. Meanwhile, the traditional tech sector ended just below its flat line.

While most groups were able to rebound from their early lows, energy (-0.8%), financials (-0.5%), utilities (-0.8%), and telecom services (-1.9%) were not as fortunate.

The energy sector was pressured by crude oil, which slid 1.3% to $93.40 per barrel. Meanwhile, the financial space underperformed for the second consecutive day, trimming its quarter-to-date advance to 3.0%. Although the sector continues to hold a solid gain for the quarter, the remaining nine groups have all had a better showing since the start of October.

Only one other cyclical sector, consumer discretionary, ended north of its flat line. The group posted a razor-thin advance of 0.01% as quick-service restaurants masked broad losses among homebuilders. Restaurant names rallied in reaction to better-than-expected earnings from Red Robin Gourmet Burgers (RRGB 84.20, +7.44) while the iShares Dow Jones US Home Construction (ITB 22.20, -0.37) lost 1.6% as the increase in rates weighed.

Treasuries sold off during morning trade before regaining a small portion of their losses in the afternoon. The benchmark 10-yr yield rose six basis points to 2.67%, its highest since October 16.

Trading volume was just above average as 741 million shares changed hands on the floor of the New York Stock Exchange.

Today's data was limited to the October ISM Services Index, which climbed to 55.4 from 54.4 (54.0 Briefing.com consensus). The strength in the services sector is not a surprise. Recent employment reports have shown an uptick in services hiring; moreover, October marks the 46th consecutive month in which economic activity in the non-manufacturing sector has expanded.

Business activity strengthened in October, with the series index rising to 59.7 from 55.1. The new orders index showed continued expansion with a print of 56.8, yet that was the second straight month in which new orders activity decelerated. The aforementioned index was at 60.5 in August and 59.6 in September.

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET and September Leading Indicators will cross the wires at 10:00 ET.

Nasdaq +30.5% YTD
Russell 2000 +29.9% YTD
S&P 500 +23.6% YTD
DJIA +19.2% YTD

DJ30 -20.90 NASDAQ +3.27 SP500 -4.96 NASDAQ Adv/Vol/Dec 1076/1.86 bln/1475 NYSE Adv/Vol/Dec 967/741.3 mln/2054

3:30 pm :

A stronger dollar index following better-than-anticipated Oct ISM Services data put pressure on precious metals and crude oil. The ISM Services reading for Oct was 55.4, which was above the Briefing.com consensus estimate of 54.0, and ahead of the 54.4 reading for Sept
Dec gold slipped to a session low of $1305.20 per ounce in morning floor trade after trading as high as $1317.90 per ounce earlier in the session. Unable to erase much of the loss, it settled 0.5% lower at $1308.10 per ounce
Dec silver also fell into negative territory, extending losses for a fourth consecutive session. It brushed a session low of $21.60 per ounce and eventually settled with a 0.3% loss at $21.64 per ounce.
Dec crude oil fell deeper into negative territory after pulling back from a session high of $94.30 per barrel. It touched a session low of $93.07 per barrel and settled with a 1.3% loss at $93.40 per barrel
Dec natural gas, on the other hand, trended higher today. It lifted from its session low of $3.40 per MMBtu set at pit trade open and broke into positive territory by late morning action. It settled 0.6% higher at $3.47 per MMBtu.

4:45PM 3D Systems and Sindoh Ink agreement to distribute consumer 3D printers in South Korea (DDD) 70.01 +3.97 : DDD announced that Sindoh, the largest Korean 2D printer manufacturer, agreed to distribute its Cube and CubeX consumer 3D printers in South Korea. Sindoh is the leading Korean office solutions provider with over 500 reseller channels and decades of proven sales and service expertise. Sindoh plans to expand its website to include 3D content and open 3D printing experience showrooms, dedicated to introducing customers to 3D printing and letting them experience and explore it firsthand.

4:20PM Tesla Motors beats by $0.02; raises FY13 delivery guidance; sees non-GAAP profitability about consistent with Q3, below ests (TSLA) 176.81 +1.61 : Reports Q3 (Sep) earnings of $0.12 per share, $0.02 better than the Capital IQ Consensus Estimate of $0.10; GAAP revenues rose 760.9% year/year to $431.3 mln; Q3 non-GAAP revenues were $603 mln, up 9% QoQ; rev consensus $503 mln. One of the drivers for the anticipated drop in ZEV credit revenue to $10 million in Q3 from $51 million in the prior quarter was the shift in the mix of sales to Europe and non-ZEV states in the United States. We are now producing 550 cars per week with improved process controls which consistently result in high quality cars. Consequently, we finished the quarter with a record of slightly over 5,500 deliveries (vs. guidance for lsightly over 5000 and expectations for over 5500), including over 1,000 deliveries to European customers. Production in the quarter significantly exceeded deliveries in order to fill the pipeline of vehicles in transit to Europe and provide cars for service and marketing uses. Q1 gross margin 21% ex-ZEV credits vs. low 20% guidance.

Demand for Model S has continued to grow in North America and Europe. We began to take reservations in China during the quarter and now anticipate our first Model S deliveries there in Q1 2014. vs the $502.68 mln consensus.

Co issues downside guidance for Q4, sees profitability about consistent with Q3 -- $0.12 vs. $0.20 Capital IQ Consensus. We are continuing to expand production and plan to deliver slightly under 6,000 Model S vehicles in Q4, which increases our total expected deliveries to 21,500 vehicles worldwide for 2013 (up from 2100). ASPs are expected to be relatively flat sequentially as we continue to see a rich mix of options on incoming orders.

Model S gross margin may continue to make slight improvements over the next several quarters as we continue to drive down manufacturing costs. While we expect to achieve our target of 25% non-GAAP automotive gross margin in Q4 (assuming no contribution from ZEV credits), further progress is likely if customers continue to purchase our vehicles with a high option take rate.

Large Cap Gainers

KORS (79.76 +6.66%): Beat on EPS by $0.03, beat on revs; guided Q3 EPS in-line, revs above consensus; guided FY14 EPS in-line, revs in-line.
ECA (18.7 +4.76%): Co announced vision and strategy; co will focus its capital investment on five oil and liquids-rich resource plays in N. America.
REGN (293.78 +4.29%): Beat on EPS by $0.54, beat on revs; raised EYLEA US net sales forecast; filed for a mixed securities shelf offering for an undisclosed amount.

Large Cap Losers

DLPH (55.39 -4.5%): Beat on EPS by $0.03, reported revs in-line; guided FY13 revs below consensus.
CF (207.56 -4.63%): Beat on EPS by $0.05, missed on revs.
NSANY (17.6 -4.56%): Downgraded to Hold from Buy at Deutsche Bank; Renault-Nissan JV plans to work with Mitsubishi to develop electric cars, according to reports.

Mid Cap Gainers

ENDP (55.82 +27.91%): Beat on EPS by $0.23, beat on revs; raised FY13 guidance; co to acquire specialty pharma co Paladin Labs in a stock and cash transaction valued at ~ $1.6 bln; expected to be immediately accretive to Endo's 2014 adjusted EPS.
ORIG (20.32 +12.59%): Beat on EPS by $0.11, beat on revs.
CSOD (51.51 +11.59%): Missed on EPS by $0.01, reported revs in-line.

Mid Cap Losers

PPO (37.03 -15.65%): Missed on EPS by $0.14, missed on revs.
HTZ (20.15 -15.34%): Beat on EPS by $0.02, beat on revs; reaffirmed FY13 EPS guidance, revs guidance.
THC (43.3 -10.28%): Reported EPS in-line, beat on revs.

ADP (ADP) announced its ADP Mobile Solutions app surpassed 1.5 mln users. The number includes over one mln app downloads from Apple (AAPL) iTunes and over 450 thousand app downloads from Google Play (GOOG).

9:00AM Rubicon Tech follow-up: RBCN showing additional pre-mkt strength following GTAT deal with AAPL; RBCN now up 6% at 9.35 (RBCN) 8.82 :
As mentioned in the 8:31 RBCN comment:

RBCN is trading higher on light pre-mkt volume. The early strength appears to stem from to positive sentiment about sapphire technology, following a deal between competitor GT Advanced Technologies' (GTAT) and Apple (AAPL).
GTAT is trading higher by 26% following news that GTAT and AAPL entered into a Master Development and Supply Agreement and related Statement of Work, pursuant to which GTAT will supply sapphire material exclusively to Apple for consumer electronics. GTAT will be subject to certain exclusivity terms during the duration of the agreement.
RBCN develops/sells monocrystalline sapphire and other innovative crystalline products for Light-Emitting Diodes ("LEDs"), radio frequency integrated circuits ("RFICs"), blue laser diodes, optoelectronics and other optical applications. In 2012, RBCN's sales to LG Innotek and Peregrine Semiconductor (PSMI) represented approximately 38% and 29% of revenues, respectively.
RBCN has a small float of around 18 mln shares and a very high short interest at ~36% of the float sold short, so the stock could be volatile if this news generates additional upside momentum.

8:09AM Trina Solar raises guidance for solar module shipments; Co estimates its solar module shipments in Q3 of 2013 to be between 750 MW to 780 MW, compared to the Co's previous guidance of 650 MW to 680 MW (TSL) 16.76 : Co announced the following updates to its previous guidance made for the quarter ended Sept 30, 2013.

The Co estimates its solar module shipments in the third quarter of 2013 to be between 750 MW to 780 MW, compared to the Co's previous guidance of 650 MW to 680 MW.

Additionally, for Q3 of 2013, the Company estimates that its overall gross margin to be between 14.5% to 15.5%, compared to the Co's previous guidance of low double digits in percentage terms.

The Co expects its net earnings results in the third quarter of 2013 to be impacted by:

An incremental accounts receivable provision of between $9.5 million and $10.5 million
A foreign currency exchange gain of $7.5 million to $8.5 million, net of change in fair value of derivative instruments

As these selected estimated results are subject to the finalization of the Company's financial closing procedures, the Company's actual results may differ from its current estimates. The Company will confirm or revise its previous module shipment guidance of between 2.3 GW to 2.4 GW for the full year 2013 during its third quarter 2013 earnings conference call.

Micron (MU) and WPG Americas, a subsidiary of WPG Holdings, announced that WPGA will handle sales, support and logistics services for Micron's complete line of memory and advanced products in North and South America, effective Nov 1, 2013.

Freescale Semiconductor (FSL) is powering a new application from Israeli startup, OrCam, that helps people with visual impairments interact more easily with the world around them.

ARM (ARMH) and Rockchip Electronics, a Chinese fabless semiconductor company and mobile-internet SoC solution provider, announced that Rockchip has acquired a subscription license of a broad range of ARM advanced technologies.

Sierra Wireless (SWIR) announced the launch of the latest additions to the AirPrime HL Series of embedded wireless modules for machine-to-machine applications. The new AirPrime HL modules include satellite navigation support and are the smallest embedded wireless modules (22 x 23 mm) to be completely interchangeable across 2G, 3G, and 4G technologies.

2:08AM Monolithic Power files patent infringement claims (MPWR) 31.71 : Co announces it has filed a patent infringement lawsuit with the U.S. District Court for the Central District of California against Silergy Corporation, Silergy Technology, Compal Electronics, and Bizcom Electronics asserting that Silergy step-down regulators, such as, e.g., SY8206, SY8208, and SY8228 product families, and Compal Electronic and Bizcom Electronics products incorporating those step-down regulators from, e.g., Silergy SY8206 and SY8208 product families, such as notebook computers, have infringed, e.g., MPS' under bump metallization technology and other protected technologies, specifically those covered by three MPS patents

07:51 am GT Advanced Tech shares soar 23% following earnings and Apple (AAPL)
GT Advanced Tech. (GTAT $10.32 +1.94) reported a third quarter loss of $0.16 per share, while revenues fell 63.4% year/year to $40.3 million. The company issued guidance the fiscal year 2013 with EPS of ($0.50)- ($0.40) with revenues of $29-320 million. The company issued guidance for fiscal year 2014 with revenues of $600-800 million (estimates may not compare).

Apple (AAPL) Agreement:

On October 31, 2013, GTAT and Apple (AAPL) entered into a Master Development and Supply Agreement and related Statement of Work, pursuant to which GTAT will supply sapphire material exclusively to Apple for consumer electronics. GTAT has granted Apple certain intellectual property rights in connection with its sapphire growth technologies. Although the agreement does not guarantee volumes, it does require GT to maintain a minimum level of capacity. GT will be subject to certain exclusivity terms during the duration of the agreement. GT expects this arrangement to be cash positive and accretive to earnings starting in 2014. Gross margins from this new materials business are expected to be substantially lower than GT's historical equipment margins. GTAT also entered into a Prepayment Agreement with Apple pursuant to which GTAT will receive approximately $578 million in four separate installments, as payment in advance for the purchase of sapphire goods. GTAT is required to repay this amount ratably over a five year period ending in January 2020, either as a credit against Apple's purchases of sapphire goods under the MDSA or as a direct cash payment.

GTAT's obligations under the Prepayment Agreement are secured by certain of its assets. While the MDSA specifies GTAT's minimum and maximum supply commitments, there are no minimum purchase requirements under the terms of the MDSA. Finally, on October 31, 2013, GTAT entered into a lease agreement with an affiliate of Apple in order to lease a facility in Mesa, Arizona that GTAT will use for the purpose of manufacturing the sapphire goods under the MDSA. Impact on 2H13 results To service the sapphire material agreement announced today, the company has dedicated the vast majority of its ASF capacity in the second half of 2013 to expanding its own materials capacity. This shift in business model has effectively precluded the company from shipping significant levels of ASF units to other customers during the second half of 2013 and will continue to do so for the balance of the year.

Given the impact of its shift from ASF equipment sales to building ASF capacity for its own internal use as the company prepares to service the Apple agreement, GT is revising guidance for fiscal year 2013, which ends December 31, 2013, as follows: Revenue in the range of $290 million to $320 million Gross margin in the range of 30% to 32% Non-GAAP EPS in the range of a loss of $0.40 to a loss of $0.50; GTAT sees 2014 revenues in the range of $600-800 mln. On October 30, 2013, GTAT terminated its credit agreement with Bank of America and the other lenders from time to time party thereto. As of October 30, 2013, there was approximately $96 million outstanding under the term loan component of the Credit Agreement, which amount was paid in full on October 30, 2013 by the Company using its available cash.

07:49 am Broadsoft shares plunge 17% following worse than expected earnings, downside guidance
Broadsoft (BSFT $27.47 -5.67) reported third quarter earnings of $0.29 per share, excluding non-recurring items, which is worse than expected, while revenues rose 6.7% year/year to $42.9 million which is lower than expected.

The company issued downside guidance for the fourth quarter with EPS of $0.34 to $0.49 which is below expectations with revenues of $47 to $53 million which is lower than expected.

"We believe our longer-term outlook remains positive although we have some short-term concerns about the service provider spending environment in the fourth quarter. We continue to believe that we are very well-positioned to take advantage of the secular trend of enterprise communications moving to the cloud. I'm pleased by the strong cash flow we were able to generate in the quarter and by the closing of the Hipcom acquisition, which is central to our plans for the expansion of Cloud PBX services into Europe."

Advanced Energy (AEIS) reported third quarter earnings of $0.53 per share, excluding non-recurring items, which is better than expected, while revenues rose 21.6% year/year to $142.9 million which is lower than expected. The company issued guidance for the fourth quarter with EPS of $0.59-0.63, which was below expectations with revenues of $145-155 million which is line with expectations.