(BFW) *FIAT HASN’T HAD ANY NOTICES OF EXERCISE OF CASH EXIT RIGHTS

BN 08/05 12:40 *FIAT HASN'T HAD ANY NOTICES OF EXERCISE OF CASH EXIT RIGHTS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GROUNDLESS
BN 08/05 12:40 *FIAT SAYS RUMORS ARE GR
BN 08/05 12:39 *FIAT: RUMORS SAID IT GOT NOTICES TO EXERCISE CASH EXIT RIGHTS
BN 08/05 12:39 *FIAT AWARE OF SOME MKT RUMORS
*FIAT HASN’T HAD ANY NOTICES OF EXERCISE OF CASH EXIT RIGHTS
2014-08-05 12:41:18.403 GMT

--BRIAN LYSAGHT

-0- Aug/05/2014 12:41 GMT

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: FIVN -27%, SALE -23.9%, END -12.8%, LF -6.8%, MSI -6.4%, ECOM -5.3%, CTIC -4.8%, BLMN -4.1%, IHG -3.9%, MDR -3.6%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, WAIR -2.7%, ACT -2.6%, CNQR -2.3%, REGN -2.2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ALLT -1.8%, PXD -1.5%, TGT -1.3%, ENH -1.2%,HCLP -1%.

M&A news: TEF -0.7% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit), VIV -0.2% (TEF launches acquisition offer for Vivendi's (VIV) GVT unit).

Select EUrelated names showing weakness: ALU -3.5%, DB -2.6%, UBS -1.6%, ARMH -1.1%, BCS -0.9%.

Other news: DRAM -3.1% (pulling back from yesterday's move), STAY -2.2% (announced launch of secondary offering by selling shareholder), PNRA -2% (announced CFO departure; Bill Moreton, Executive Vice Chairman and former CEO, to serve as interim CFO), ESI -1.4% (announced that CEO Kevin M. Modany intends to resign, effective February 4, 2015; John Dean named Executive Chairman; Eugene Feichtner promoted to President and COO), BHP -1.1% (potentially related to weaker than expected Aus Trade Balance), BERY -1% (announced 14,728,218 share secondary public offering by certain funds affiliated with Apollo Global Management).

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: NLS +12.8%, GTAT +10.4%, AKRX +7%, COH +6.2%, CHGG +6.1%, ODP +5.7%, EPAM +4.4%, CAR +4.2%, JMBA +4.2%, CRZO +4%, TSRA +3.8%, ANV +3.7%, ANSS +3.2%, MWA +3.1%, ELNK +3.1%, ARQL +3.1%, REGI +2.6%, KFRC +2.4%, ARCO +2.3%, AIG +2.1%, WLK +2.1%, MRO +2%, MGM +1.8%, VSI +1.4%, THC +1.3%,CVS +1.3%, KWK +1.1%, BCRX +1%, .

M&A news: MNI +12.7% (announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), GCI +6.4% (MNI announces agreement to sell its 25.6% stake in Cars.com to Gannett (GCI)), AHC +6.2% (A.H. Belo to sell its units in Classified Ventures to Gannett (GCI) for a price that values CV at $2.5 bln; remains Cars.com reseller).

Select solar stocks trading higher: YGE +2.8%, TSL +2.8%, CSIQ +2%, FSLR +1.7%, HSOL +1.1%, SUNE +0.7%, JKS +0.3%.

Other news: BAXS +25% (announces 2 new patents for VEO direct lateral and AxiaLIF minimally invasive interbody fusion systems), USU +8% (disclosed an amendment to its agreement with the Department of Energy that provides for additional funds of ~$5.7 mln), ZNGA +1.8% (still checking), P +1.7% (may launch Talk Radio for cars, according to reports out yesterday afternoon), GRPN+1.3% (still checking), TASR +1.2% (reports orders for hundreds of AXON Cameras for July), .

Analyst comments: HIMX +4.5% (upgraded to Buy from Neutral at BofA/Merrill), SERV +3.5% (initiated with a Overweight at Piper Jaffray), ADHD +2.3% (initiated with a Overweight at Piper Jaffray), FMS +1.8% (upgraded to Buy from Neutral at UBS), THC +1.3% (upgraded to Neutral from Negative at Susquehanna)

>>> US Early premarket gappers

Early premarket gappers
Gapping up: NLS +12.8%, GTAT +12.2%, GTAT +12.2%, USU +8%, AKRX +7.8%, HIMX +6.9%, CHGG +6.1%, GCI +5.2%, COH +5.2%, EPAM +4.4%, CAR +4.2%, JMBA +4.2%, TSRA +3.8%, ANV +3.7%, ARQL +3.1%, ODP +2.7%, REGI +2.6%, ARCO +2.6%, ZNGA +2.5%, MWA +2.3%, CVS +2.3%, WLK +2.1%, MRO +2%, AIG +1.8%, MGM +1.8%, P +1.7%, HCLP +1.4%,BLMN +1.4%, VSI +1.4%, GSK +1.2%, KWK +1.1%, MSI +1%, BCRX +1%

Gapping down: FIVN -28.5%, SALE -21.2%, LF -6.8%, CTIC -4.8%, ALU -4.1%, IHG -4%, MDR -3.6%, ECOM -3.5%, ROSE -3.3%, GTXI -3.3%, SYKE -3.1%, OESX -3%, ESI -2.7%, WAIR -2.7%, CNQR -2.3%, STAY -2.2%, PNRA -2%, DRC -2%, AREX -1.9%, CNK -1.9%, RHP -1.9%, ARMH -1.8%, ALLT -1.8%, PXD -1.5%, BHP -1.2%, ENH -1.2%, BERY -1%

(CRL) EURONEXT: BES WILL BE REMOVED FROM PSI 20 AT PRICE EU0.00

BN 08/05 10:44 *EURONEXT SAYS WILL CONFIRM BES PSI ACTIONS AUG. 6
BN 08/05 10:43 *EURONEXT: BES WILL BE REMOVED FROM PSI 20 AT PRICE EU0.00
EURONEXT: BES WILL BE REMOVED FROM PSI 20 AT PRICE EU0.00
2014-08-05 10:46:04.372 GMT

(The following press release from Euronext was received by e-mail. It was
not confirmed by the sender.)




-0- Aug/05/2014 10:46 GMT

(BFW) Vivendi Supervisory Board to Meet End of August, Liberum Says

Vivendi Supervisory Board to Meet End of August, Liberum Says
2014-08-05 10:44:38.924 GMT


By Blanche Gatt
Aug. 5 (Bloomberg) -- Vivendi’s Supervisory Board meeting
will be at end August, ahead of expiry of Telefonica bid for GVT
on Sept. 3, Liberum says in emailed comments, citing
conversation with co.
* Liberum (buy) says this will also allow any other bids to be
presented, considered
* Offer of purchase of 8.1% stake in Telecom Italia was
offered in lieu of part of the cash component of the bid
for GVT, meaning Vivendi could choose to take the stake
instead of the cash
* Doesn’t see why Vivendi would do this, so likely that
co. will take the cash, if the Telefonica bid is
accepted
* NOTE today: VIVENDI STREET WRAP: Telefonica GVT Bid Positive
for Shares
* Vivendi 1H earnings on Aug. 28


For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

To contact the reporter on this story:
Blanche Gatt in London at +44-20-7392-0351 or
bgatt@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

>>> Gannett (GCI) - To Create Two Industry-Leading Companies With Scale Through

To Create Two Industry-Leading Companies With Scale Through Spin-Off Of Publishing Business To Gannett Shareholders; to acquire remaining 73% stake in Cars.com for $1.8B 

Announced its plan to create two publicly traded companies with scale: one exclusively focused on its Broadcasting and Digital businesses, and the other on its Publishing business. The planned separation of the Publishing business will be implemented through a tax-free distribution of Gannett's Publishing assets to shareholders. The transaction will create two focused companies with increased opportunities to grow organically across all businesses as well as pursue strategic acquisitions. 

Gannett believes the separation will result in material benefits to both companies, including: 
- Creation of a stronger growth profile and a more competitive position for each company with enhanced management focus and resources more directly aligned with strategic priorities to drive innovation and value creation 
- Optimization of capital structures based on the profitability, cash flow, and growth opportunities of each independent company 
- Realization of more targeted investment opportunities for shareholders with trading valuations that more accurately reflect the distinctive characteristics of each business 
- Opportunity to pursue value-enhancing acquisitions in each company with fewer regulatory obstacles 
- Gannett expects the Publishing business will be virtually debt-free after the separation, with all of Gannett's existing debt retained by the Broadcasting and Digital company. Gannett anticipates the initial combined dividend of the two independent companies will not be less than Gannett's current $0.20 per share quarterly cash dividend. 

Following the separation, Gannett's Broadcasting and Digital company, which has yet to be named, will remain headquartered in McLean, Virginia, and will trade on the NYSE. Gracia Martore will serve as Chief Executive Officer of the Broadcasting and Digital company at that time. Following the separation, the Publishing company, which will retain the Gannett name, is expected to be listed for trading on the NYSE and will remain headquartered in McLean, Virginia. Robert J. Dickey, currently president of Gannett's U.S. Community Publishing division, will become Chief Executive Officer of the Publishing company upon completion of the separation. 

Cars.com 
Gannett has also signed a definitive agreement to acquire full ownership of Cars.com, one of the leading digital companies in the automotive space. Under the agreement, Gannett will acquire the 73% interest it does not already own in Classified Ventures LLC, which owns Cars.com, for $1.8 billion in cash. The transaction is expected to contribute approximately $155 million in annual incremental 2014 pro forma EBITDA to Gannett, which includes the impact of the new affiliate agreements. The transaction price implies a multiple of 11.7x pro forma 2014 estimated incremental EBITDA. Based on the more favorable economics associated with the new affiliate agreements, as well as anticipated cost efficiencies, the company expects a pro forma 2015 estimated incremental EBITDA multiple of 9.2x. The company will maintain a strong balance sheet, with anticipated pro forma net leverage initially at approximately 2.8x, which will be reduced over time. Gannett will finance the acquisition through cash on hand, the issuance of approximately $650-675 million in new senior notes and borrowings under the company's revolving credit agreement.The acquisition of the remaining interest in Cars.com, which is subject to regulatory approval and other customary closing conditions, is expected to be completed in the fourth quarter of this year. 

Tribune Publishing Company Announces Five-Year Affiliate Agreement with Cars.com 
Announced that it expects to enter into a five-year agreement with Classified Ventures, LLC (CV) to extend its affiliate agreement with Cars.com. The agreement is contingent upon the closing of the sale of CV to Gannett Co., Inc. (NYSE: GCI) by the equity partners, which is expected to close by the end of 2014, subject to customary regulatory reviews. Upon the close of the sale, Tribune Publishing will enter into a five-year affiliate agreement with CV that will allow it to continue to sell Cars.com products and services exclusively in the eight key markets in which Tribune Publishing operates, including: Los Angeles; Chicago; Central- and South Florida; Baltimore; Hartford, Ct.; Allentown, Pa. and Newport News, Va.