(BFW) Repsol Said to Revive Talks With Talisman Over Possible Deal

Repsol Said to Revive Talks With Talisman Over Possible Deal
2014-12-08 20:21:20.246 GMT


By Aoyon Ashraf
Dec. 8 (Bloomberg) -- Repsol SA revived talks with Talisman
Energy, people with knowledge of the matter told Bloomberg’s
Matthew Monks, Manuel Baigorri and Scott Deveau.
* Cos. discussing options that may include sale of certain
assets or whole co.
* Spokesmen for Talisman and Repsol declined to comment
* NOTE: Sept. 19, Talisman May Still Pursue Asset Sales to
Repsol: CEO Kvisle; Link
* NOTE: Aug. 28, Repsol Said to Drop Plan to Buy All of
Talisman Energy; Link
* July 23, Talisman Energy Says It’s Been Approached by
Spain’s Repsol; Link
Link to Bloomberg Story: NSN NGA5UD6KLVRQ<GO>

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Link to Company News:TLM CN <Equity> CN <GO>

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>>> ICE/ EURONEXT Announces Pricing for Placement of Residual Euronext stake; T

Announces Pricing for Placement of Residual Euronext stake; Total proceeds of €96.8 million Announced today the pricing of the placement of 4.2 million shares in Euronext N.V., representing approximately 6% of Euronexts share capital, by way of an accelerated book-building to institutional investors.The gross proceeds to ICE from the sale amount to €96.8 million.Following the sale, which is expected to close on December 11, 2014, ICE will no longer hold any of Euronexts shares or voting rights. This transaction marks the final exit from Euronext by ICE initiated in 2014.

(GS STrat) GOAL : 2015 Outlook : Long grind higher in risky assets, lower bond r

Long grind higher in risky assets, lower bond returns

>>> A broadening recovery with low inflation and easier policy
We expect the growth recovery to broaden as global growth picks up to
3.4% in 2015 from 3% in 2014. Inflation is likely to remain low, in part due
to declines in commodity prices, and as a result monetary policy should
remain easy. We think this backdrop supports a pro-risk asset allocation.

>>> Views across asset classes
* Equities: We remain overweight. We expect the long grind higher in
equities to continue, but at lower returns than in recent years as earnings
growth takes over as the key driver. We think there is potential for further
multiple expansion in Europe as a result of central bank easing.
* Government bonds: We remain underweight on both a 3- and 12-month
horizon. After another year of falling bond yields, we believe the return
potential for bonds is increasingly limited. We think term premia are too
low with the start of a Fed hiking cycle moving closer and that yields will
increase. However, in the near-term global central bank easing and low
inflation are likely to limit increases in bond yields.
* Credit: Underweight for credit on a 12-month basis, neutral on 3-month.
We expect further spread compression as investors move up the risk curve
in the low volatility environment. On a 12-month basis we see total return
potential as limited with the increase in bond yields. But, near-term credit
is likely to be supported by central bank easing, so we are neutral.
* Commodities: We stay neutral after the recent large declines in oil prices.
We expect oil prices to stabilize, but uncertainty remains high in the nearterm.
Outside of oil we expect increased dispersion in performance, mainly
driven by supply, with downside for copper and upside for nickel.

RTR - Israel tax evasion probe at UBS leads to 28 arrests

Dec 8 (Reuters) - Israel has arrested 28 people so far as part of an investigation into Israelis allegedly holding undisclosed bank accounts with Swiss bank UBS, the Tax Authority said on Monday.

"The investigation continues and more arrests are expected," the authority said in a statement, noting that the suspects had been released on bail.

"During the investigation it was revealed ... that at UBS in Switzerland thousands of accounts held by Israelis are being managed, and it is suspected that the vast majority of money held in the accounts is not reported to the tax authority," it said.

There have been no indictments yet as the investigation is ongoing.

A UBS spokesman in Zurich said the bank as well as its Israel office are not part of the investigation and would not comment further.

Israel is starting to crack down on foreign bank accounts held by its citizens after a similar move by the United States to track accounts held by Americans abroad.

Last month, Israel's Tax Authority said the allegedly undisclosed bank accounts at UBS were worth millions of euros.

>>> DRIV - Shares trading down 23%; no new information on its pending takeover

Shares trading down 23%; no new information on its pending takeover by Siris Capital 
- Earlier in a filing DRIV gave an update on its agreement with Microsoft: "Digital River, Inc. (the Company) today announced that it has granted Microsoft Corporation (Microsoft) an extension from December 1, 2014 to December 19, 2014 as the deadline by which Microsoft is required to provide prior notice to the Company of its decision as to whether to elect to extend the expiration date of the Microsoft Operations Digital Distribution Agreement between the Company and Microsoft, dated September 1, 2006, as amended to date."

>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: MYCC -13.5% (also says REIT conversion not a viable option today), MCD -2.7% (November comps -2.2%), BTU -0.6% (ticking lower; reaffirms its prior guidance regarding 2014 coal sales volumes, U.S. revenues per ton, operating costs and expenses per ton and capital spending).

M&A news: VRSK -0.9% (Verisk Analytics announced the acquisition of Maplecroft.Net Limited; The net purchase price is GBP 20.25 million; expected to be neutral to adjusted EPS in 2015).

Oil/gas related names showing early weakness: E -2.6%, OXY -2.4%, REXX -2.4%, STO -2.2%, BP -2%, EOG -1.9%, COP -1.8%, BHI -1.7%, PBR -1.4%, RIG -1.2%, RDS.A -1%, CVX -1% (target lowered to $130 at Oppenheimer on lower oil ), SDRL -0.8%.

Other news: LQDT -12.1% (disclosed Wal-Mart provided written notice terminating Agreement, effective December 8, 2014), INFY -5.0% (Infosys founders plan to sell $1 bln of stock, according to reports), JCP -4.4% (still checking for anything specific), PSEC -2.7% (Prospect Capital has suspended at-the-market equity issuances for the indefinite future; reduced monthly cash dividends to shareholders, updates 5.1% energy industry exposure, updates credit statistics), SNN -2.2% (still checking), DGLY -2% (NYTimes discusses comments from experts questioning how useful body cameras will be on police ), TTM -1.5% (still checking), AAL -1.2% (reports November traffic results; RPMs for the month were 16.2 bln, down 0.5% versus Nov 2013, ASMs, up 0.9% versus Nov 2013. Total passenger load factor was 77.7% for the month of Nov, down 1.1 points versus Nov 2013), PFE -1.2% (announced two strategic decisions to expand the company's rare disease research and development activities through the establishment of a gene therapy platform to investigate potential treatments for patients ), ERJ -0.8% (Envoy Air and unions reach agreement to allow Envoy Air to upgrade to ERJ jets, according to reports), BABA -0.6% (Bloomberg details Alibaba's (BABA) plans to expand mobile OS in China).

Analyst comments: TASR -2.9% (downgraded to Neutral from Buy at Ladenburg Thalmann ), QIWI -2.3% (downgraded to Neutral from Buy at UBS), RHT -1.1% (downgraded to Market Perform from Outperform at Wells Fargo ), NKE -1.1% (downgraded to Market Perform at Telsey Advisory Group on valuation ahead of earnings next Thursday), YNDX -1% (downgraded to Neutral from Buy at UBS), WFC -0.8% (downgraded to Mkt Perform from Outperform at Bernstein), HSBC -0.6% (downgraded to Mkt Perform from Outperform at Keefe Bruyette)

>>> US Gapping up

Gapping up

M&A related: CBST +22.7% (Cubist to be acquired by MRK for $102/share), ACY +7.6% (following late spike higher after Lee Beaumont disclosed 9.5% stake in 13D; proposes to enter into a merger agreement for $12.50 per share in cash), IACI +0.2% (planning to sell College Humor, according to reports ).

Select metals/mining stocks trading higher: CDE +3.1% GOLD +3% (upgraded to Buy from Hold at Deutsche Bank) GLD +0.4%.

Airline names trading higher (pulled back premkt since AAL update): LUV +1.4% VA +1.3% ALK +0.4%

Other news: BLRX +19.6% (reports positive data from ongoing Phase 2a Study for AML treatment; Data show six-fold increase in mobilization of AML cells from bone marrow ), GALE +10.7% (presents GALE-401 (Anagrelide Controlled Release) clinical trial data; phase 1 results demonstrate GALE-401 reduces platelet counts with tolerable safety profile), AGIO +8.7% (Agios Pharma announces Celgene decision to extend discovery phase of global strategic collaboration to April 2016; Agios to receive a $20 mln payment), ISR +6.8% (still checking), DVAX +6.7% (Dynavax Technologies and AstraZeneca to advance TLR9 agonist for treatment of asthma into Phase 2a clinical study), NVAX +4.4% (still checking), CTIC +3.4% (announced that an analysis of kinase inhibition by pacritinib demonstrated a unique kinome profile among agents in development for myelofibrosis and suggests potential therapeutic benefit across a spectrum of blood-related cancers ), NOAH +2.8% (continued strength), IDRA +2% (biotech news / M&A sympathy), BBRY +1.9% (BlackBerry and NantHealth Launch Breakthrough NantOmics Cancer Genome Browser), CANF +1.5% (Empery Asset Management discloses 8.43% passive stake in 13G filing), CELG +1.2% (announced that results were presented from multiple post-hoc analyses of its pivotal phase III First; PDUFA date Feb 22 2015), ABBV +0.8% (presents results from Phase 2 study of investigational compound Venetoclax; study evaluated preliminary ffficacy of Venetoclax in 32 patients with relapsed/refractory acute Myelogenous Leukemia), IDXX +0.5% (favorable commentary on Friday's Mad Money), AXS +0.4% (authorized the repurchase up to $750 mln of the Company's common shares; also declared a quarterly dividend of $0.29 per common share, which represents an increase of 7.4%), SHPG +0.4% (favorable commentary on Friday's Mad Money).

Analyst comments: LHO +1% (upgraded to Overweight from Equal Weight at Morgan Stanley ), AMAT +0.8% (upgraded to Buy from Hold at Deutsche Bank), EBAY +0.7% (upgraded to Buy from Hold at Stifel), ORAN +0.6% (upgraded to Buy from Neutral at Goldman; added to Conviction Buy List ), TSM +0.5% (upgraded to Buy from Neutral at BofA/Merrill)