(Fortune) Uber files to sell $1.8 billion of new stock

Uber’s new fundraising goal is is even larger than previously reported.

On-demand car company Uber today filed in Delaware to authorize up to $1.8 billion of new Series E preferred stock. The document was first spotted by VCExperts, which says that Uber’s valuation could hit $40 billion if all of the authorized shares are issued.

This is the same valuation that Bloomberg reported late last month, although that story only said that Uber was seeking to raise “at least $1 billion.” Prior to this new round, the San Francisco-based company had raised around $1.5 billion, including a $1.2 billion round just this past summer led by Fidelity Investments at a $17 billion pre-money valuation.

It is unclear if Uber has finalized the Series E raise, which is separate from a large convertible debt offering that Uber currently is selling to high-net-worth clients of Goldman Sachs (apparently without having to pay normal Wall Street fees). Word is that, if the Series E raise isn’t done, it’s extremely close.

An Uber spokeswoman declined to comment.

>>> GSK : Decides against sale of their established products in North America an

Decides against sale of their established products in North America and Europe branches 
As announced at the Company's 2nd quarter results in July, GSK started a process to consider the divestment of certain North American and European brands in its Established Products Portfolio.
- Company has evaluated all bids received and has concluded, consistent with its key criteria of maximising shareholder value, not to pursue divestment of these products.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: SEAC -11.4%, ARO -10.7%, EXPR -10.6%, GIL -7.6%, VRNT -3.2%, PVH -1.4%, REX -1.1%, GES -0.8%, TD -0.7%, DG -0.6%

M&A news: UTIW -12% (responds to Bloomberg article about UTi Worldwide and DSV A/S, currently no discussions)

Select Brazil related names showing weakness: SID -2.3%, CIG -2.1%, TSU -1.7%, ERJ -1.7%, VALE -0.9%

Select metals/mining stocks trading lower: AU -1.6%, SLW -1%, IAG -0.8%, GG -0.8%, GOLD -0.6%

Select oil/gas related names showing early weakness: SDRL -2.5%, PBR -2.4%, BP -2.1%, STO -1.8%, TOT -1.7%, RIG -1.5%, RDS.A -1.4%

Other news: KIN -26.4% (has re-assessed its atopic dermatitis program and the atopic dermatitis market and has decided to discontinue its AtoKin study in favor of directing resources toward other programs in its portfolio), ADC -3.3% (Agree Realty commenced underwritten public offering of 2.1 mln newly issued shares of common stock), SGY -2.3% (provided an operational update on its Cardona deep water development project; The Cardona project initial production testing started in late November and the two wells have been tested and will be closely monitored with flow rates ramping up over a four week period), MTRN -2.1% (announced that SVP, Finance and CFO John D. Grampa plans to retire from the Company prior to the end of 2015), PRO -1.6% ( announces private offering of $125 million of convertible senior notes due 2019), CLF -1.2% (announces termination with respect to tender offers for certain of its senior notes)

Analyst comments: DISH -2.6% (downgraded to Underweight from Equal Weight at Barclays), BRFS -2.5% (downgraded to Neutral from Buy at Goldman), RIO -2.1% (downgraded to Underperform from Buy at BofA/Merrill), WMT -1.1% (downgraded to Neutral from Buy at UBS), BHP -1% (downgraded to Neutral from Buy at BofA/Merrill), CIR -0.8% (downgraded to Hold from Buy at BB&T Capital Mkts), TUP -0.7% (downgraded to Underperform from Market Perform at BMO Capital Markets).

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: TLYS +18%, PSUN +16.5%, RYAAY +7.4%, (Guidance) AVGO +7.2%, ENB +6.5%, LB +5.4%, (SSS) SHLD +2.2%, COST +0.6%, (SSS).

M&A news: HE +17% (agreed to combine in transaction valued at ~$4.3 billion), ARIA +1.7% (speculation that Asterzenca (AZN) and Shire (SHPG) are interested), KOG +1.1% (Whiting Petroleum Stockholders Approve Acquisition of Kodiak Oil & Gas), BBY +1% (to sell its Five Star Business in China)

Select China related names showing strength after Shanghai gained 4% last night: PTR +5.5%, LFC +2.7%, JRJC +2.6%, CEO +2.6%

Other news: CACH +64.5% (announces review of strategic alternatives), ARRY +23.8% (to regain worldwide rights to Binimetinib), APDN +19.5% (signs with fourth federal agency), OXF +18.8% (disclosed that on December 2, 2014, it was notified the NYSE that it regained compliance with the share price continued listing standard of the NYSE), SCOK +18.2% (begins construction of second aboveground syngas facility; plans to double output capacity), PLUG +15.1% (signs multi-year ReliOn fuel cell contract with communications company valued at $20 mln), CDXS +12.6% (announced it has developed a novel enzyme therapeutic product candidate for the potential treatment of phenylketonuria), APPY +5.3% (will provide business update on Monday, Dec 8 at 4:30 following FDA request for additional info on APPY1 direct de novo submission), CTIC +4.1% (receives $15 mln milestone payment for TRISENOX), AMBA +3% (ahead of earnings after the close), JBLU +2.8% (peer Ryanair (RYAAY) reported Nov traffic, raised profit outlook), MTOR +2.3% (still checking), DAL +2.1% (peer Ryanair (RYAAY) reported Nov traffic, raised profit outlook), UL +2% (to create stand alone business unit within Spreads division), PRA +1.8% (has authorized a special dividend of $2.65 per common share, increased its regular dividend by 3.3% to $0.31/share and adds to share repurchase authorization ), ALV +1.8% (cont strength after confirming will supply replacement airbag inflators to be used by Honda (HMC)), ISIS +1.7% (ISIS-APOCIII Rx Phase 2 study in patients with familial chylomicronemia published ), UN +1.7%, RFMD +1.6% (may be in symp with AVGO earnings), FEYE +1.3% (on going volatility surrounding Sony sec breach), EJ +1.3% (announced the details of the partial spin off of Leju Holdings (LEJU)), HDNG +1.1% (light volume; Privet Fund disclosed 7% stake; has engaged in discussions with management regarding the operations and strategic direction), VA +0.8% (peer Ryanair (RYAAY) reported Nov traffic, raised profit outlook)

Analyst comments: MBLY +4.3% (upgraded to Buy from Hold at Deutsche Bank), INFI +2.7% (upgraded to Outperform from Neutral at Credit Suisse), ORAN +2.3% (upgraded to Neutral from Underperform at Credit Suisse), CSX +1.2% (upgraded to Buy from Neutral at Citigroup), PG +1% (upgraded to Outperform from Neutral at Credit Suisse), AA +0.5% (initiated with a Outperform at Wells Fargo)

>>> ECB STAFF PROJECTIONS

ECB STAFF PROJECTIONS 

Growth
- Cuts 2014 GDP outlook from +0.9% to +0.8% 
- Cuts 2015 GDP outlook from +1.6% to +1.0%
- Cuts 2016 GDP from +1.9% to 1.5%

Inflation:
- Raises 2014 inflation forecast from 0.6% to 0.8%
- Cuts 2015 inflation from 1.1% to 1.0%
- Raises 2016 inflation from 1.4% to 1.5%