>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: LYG -2.9%.

M&A news: JOSB -5.7%( in talks to purchase Eddie Bauer, according to reports; also Jos. A. Bank sends letter to Men's Wearhouse).

Select financial related names showing weakness: BCS -1.7%, ING -1.6%, PUK -1.4%, MTU -1.3%, DB -1.2%, UBS -1.2%, CS -0.8%.

Other news: GALE -7% (still checking), UNTD -4.6% (announces discontinuation of dividends), INO -3.9% (files for $125 mln mixed securities shelf offering), KIOR -3.4% (KiOR comments on EPA's proposed 2014 renewable volume obligations; KIOR says RFS support is necessary to continue the advancement and commercialization of renewable fuels), CPRX -3.1% (files to sell $100 mln of common stock), FEYE -2.3% (files for $700 mln common stock offering ), SNE -2% (still checking), VOD -1.9% (still checking), IMAX -1.8% (was mentioned cautiously in NYTimes story ), ARMH -1.7% (still checking), NUAN -1.5% (light volume; Oracle Health Sciences (ORCL) Works With Nuance to Voice Enable Clinical Trials), T -1% ( launches new prices plan for families on its best-in-class network), .

Analyst comments: MDVN -2.3% (downgraded to Hold from Buy at Needham), CCJ -3.4% (downgraded to Sell from Hold at Canaccord), BBVA -2.3% (downgraded to Hold from Buy at Societe Generale ), ZNGA -2.3% (downgraded to Underperform from Neutral at BofA/Merrill), SFY -2% (downgraded to Underweight from Equal Weight at Barclays)