>>> Hewlett-Packardon Separation Conference Call --> HPQ +5.25% pre open

Hewlett-Packardon Separation Conference Call- Capital return to be weighted toward share repruchases

  • Co says capital return will be weighted toward share repurchasing and high dividends; says sum of dividend payments will be equal to what HPQ pays today... transaction will be tax free.
  • expect 2015 charge linked to prior announced headcount reduction.
  • expect one-time GAAP only charges related to separation, including upcoming Q4.
  • Continue to have material non-public information that will not be finished until Q4 and keep the co from doing repurchases at the moment.
  • Says at next opportunity it will announce a repurchase plan that will make up for the current shortfall.
  • Expect revenue flat y/y; expect 2 point currency headwind to as reported revenue.
  • Says hardware environment remains tough on pricing.
  • Expect margins to increase y/y

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance
: EZCH -6.4%, .

M&A news: HRB -6.1% (announced that the regulatory approval process regarding its purchase and assumption agreement with BofI Federal (BOFI) will not be complete this calendar year).

Select oil/gas related names showing early weakness: TOT -0.9%, STO -0.8%, RDS.A -0.4%.

Other news: SNSS -62.7% (announces results from pivotal Phase 3 VALOR trial of Vosaroxin and Cytarabine; trial does not reach primary endpoint), ADHD -43.3% (announces topline results from Phase III study of MDX in adult ADHD), EMITF -5.7% (announces that InSightec received HCSC positive coverage decision for its ExAblate procedure for pain palliation of bone cancer metastases),RSH -5.1% (agrees to restructure a portion of its existing debt, providing additional near-term liquidity), MU -1.2% (still checking).

Analyst comments: TKMR -7.2% (downgraded to Mkt Perform from Outperform at Leerink Partners), FTNT -2.3% (downgraded to Equal-Weight from Overweight at Morgan Stanley), QLIK -2.1% (downgraded to Equal-Weight from Overweight at Morgan Stanley), PTCT -1.5% (downgraded to Mkt Perform from Outperform at Cowen), CL -1.3% (downgraded to Equal Weight from Overweight at Barclays), MBLY -0.8% (downgraded to Mkt Perform from Outperform at Raymond James), DECK -0.8% (downgraded to Neutral from Overweight at Piper Jaffray), BWLD -0.6% (downgraded to Neutral from Outperform at Wedbush), MCD -0.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley).

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance
: SMIT +4.6%, PEG +1.4%, .

M&A news: CFN +25.6% (to be acquired by Becton Dickinson (BDX) for $58 per share), BDX +9.8% (acquiring CFN), CONN +7.8% (to explore strategic alternatives), HPQ +6.3% (will separate into two public companies).

Select Brazil related names showing strength following elections over the weekend: ITUB +8.6%, BBD +8%, CIG +5.8%, GFA +5.7%, HL +4.1%, ABEV +2.1%, SAN +1.8%

Select Casino stocks trading higher: MGM +2.8%, LVS +2.4%, WYNN +1.8%

Select Ebola related names showing strength: NLNK +3.9%, LAKE +3.4%, SIGA +0.7%, INO +0.3%

Other news: QTWW +33.9% (Linde to build and operate its first retail hydrogen fueling station in the U.S; QTWW to supply the dispensing system), PBR +18.2% (exec fuel price increase request; also Brazil elections may be having an impact), IGLD +10.5% (Golden Lines intends to initiate a private placement for institutional and qualified investors of its Series D Debentures that will be exchanged for Series C Debentures), MZOR +7.4% (reports sale of five Renaissance Systems during Q3), PSTI +6.4% (still checking), MHR +5.2% (will obtain two new credit facilities and refinance its existing revolving credit facility, also favorable mention on Friday's Mad Money), TASR +2.9% (Dallas Police Department orders 2,250 TASER X26P smart weapons), EXXI +2.8% (Hayman Capital discloses 5.08% passive stake in 13G filing), CDE +2.4% (discovers high-grade mineralization at Kensington; drilling activity in Jualin Veins 4 and 5 has encountered several multi-ounce gold intercepts), BBRY +2.2% (still checking), KNDI +2% (still checking), LINTA +1.3% (Interactive announces reattribution of digital commerce businesses and dividend on Liberty Interactive Tracking Stock),BHP +0.9% (presents cost reductions and capital efficient growth plans at WAIO), ZMH +0.9% (CFN peer)

Analyst comments: ISRG +3.8% (upgraded to Buy from Neutral at Goldman), SKYW +3.2% (upgraded to Outperform from Mkt Perform at Raymond James), SPLK +2.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley), DATA +2.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley), GPRO +2.5% (target raised to $105 from $60 at JMP Securities), LGCY +1.3% (upgraded to at ), BKW +1.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley), COP +0.8% (upgraded to Neutral from Sell at UBS)

( B.Riley&Co.) RadioShack financial agreement, likely bankruptcy filing after Xm

RadioShack announced it had stuck an agreement with Standard General and others to replace its existing ABL facility and receive $120 mln in cash to collateralize letters of credit; maintain Sell
B. Riley & Co. notes, RSH stuck an agreement with Standard General and others to replace its existing ABL facility and receive $120 mln in cash to collateralize letters of credit. Although this frees up some borrowing availability and should help liquidity optics for holiday inventory build, there didn't seem to be any assurances that vendors were supportive. Furthermore, Salus Capital does not seem to have budged on covenants, which means widespread store closings are still not permitted. Given the magnitude of ongoing losses, the significant potential dilution, and some of the language in co's release, firm thinks the announced agreement simply pushes a likely bankruptcy filing out until after the holidays.

>>> DRTX To be acquired by Actavis for $23/shr (plus CVRs for up to $5/shr), Tot

To be acquired by Actavis for $23/shr (plus CVRs for up to $5/shr), Total deal value $675M in cash 

- Actavis will commence a tender offer to acquire all of the outstanding shares of Durata common stock for $23.00 per share in cash, or approximately $675 million in the aggregate, and contingent value rights (CVRs) entitling the holder to receive additional cash payments of up to $5.00 per share if certain regulatory or commercial milestones related to Durata's lead product DALVANCETM are achieved. Actavis expects the acquisition to be accretive by the end of the first year.- If DALVANCETM is approved in Europe for ABSSSI, holders of the CVR will receive $1.00 per share. 

If DALVANCETM is approved for single dose administration by the FDA, holders of the CVR will receive $1.00 per share. If a net global DALVANCETM revenue threshold is met over a designated time period, holders of the CVR will receive $3.00 per share.

(Gizmodo) Looks Like Facebook Messenger Is Prepping Friend-to-Friend Payments


Facebook Messenger has a friend-to-friend payment feature in the works, and it's already set up in the app. It's just not turned on for the general public.

The payment feature would let you give and receive money by providing Facebook with debit card information, similar to Square Cash.

Stanford student Andrew Aude uncovered the hidden feature using Cycript, an app exploration tool for developers.

"I first found it a month ago with Jonathan Zdziarski's security research into Facebook Messenger," he told me. Aude went digging after seeing a screenshot from Zdziarski hinting at mobile payments. What he found was a full-fledged app just waiting to be made public.

Facebook recently brought ex-PayPal president David Marcus on board as the head of Messenger, so this makes sense. Aude didn't see PayPal as an option when he played around with the app, but the code he saw mentions PayPal.

The version Aude saw didn't allow for credit cards or bank accounts, and it let you add a pin code for added security. Unlike Venmo, the money-transfer app that will be Facebook's competition, the transactions were private (so no Newsfeed updates when you get that $20 for picking up a friend's concert ticket). Aude told me Facebook can turn the feature on or off on a user-to-user basis, and he suspects some Facebook employees already have access to a live version. He also found a note that indicates payments between multiple parties is coming, though right now the feature only works for a transaction between two people.

Looks Like Facebook Messenger Is Prepping Friend-to-Friend Payments
EXPAND
Facebook declined to comment when I asked them about this, so there's no official word. There's always a chance Facebook could kill the entire project before it sees the light of day, so don't get too psyched about sending people money along with a Pusheen sticker just yet.

WSJ : Nobel Prize Winners in Physiology or Medicine Discovered ‘Inner GPS’

Nobel Prize Winners in Physiology or Medicine Discovered ‘Inner GPS’
Award Given for Discoveries Relating to Brain Cell Positioning Systems

A British-American and two Norwegian scientists were awarded this year’s Nobel Prize in Physiology or Medicine for discovering brain circuits that forms an “inner GPS” system that allows us to navigate our environment.

Half the prize was awarded to American-born John O’Keefe for discovering nerve cells that get activated in different combinations to enable the creation of a spatial map that determines our sense of “place.”

The other half was shared by a Norwegian couple, May-Britt Moser and Edvard I. Moser, who discovered other nerve cells that also enable precise positioning and pathfinding.

Taken together, the discoveries “have solved a problem that has occupied philosophers and scientists for centuries—how does the brain create a map of the space surrounding us and how can we navigate our way through a complex environment,” the Nobel Assembly, the body that makes the final decision on the winners, said in a statement.

The research has paved the way for a better understanding of other cognitive processes, including memory, thinking and planning. And it may one day provide medical benefits.

For example, patients with Alzheimer’s disease often lose their way and cannot recognize where they are. Knowledge of how the brain’s inner global positioning system works could shed light on how spatial memory loss occurs.

Nobel Prize Winners, 2014
Read more about the Nobel Prize winners.

Dr. O’Keefe, who is a dual U.K.-U.S. citizen, is director of the Sainsbury Wellcome Centre in Neural Circuits and Behavior at University College London. Ms. Moser is the director of the Centre for Neural Computation in Trondheim, Norway. Mr. Moser is the director of the Kavli Institute for Systems Neuroscience in Trondheim.

By watching rats navigate labyrinths, scientists had long suspected that the animals likely had cognitive circuitry that allowed them to find their way. But it was far from clear how any such map would be represented in the brain.

In 1971, Dr. O’Keefe found a key part of the answer. By connecting electrodes to the brains of rats as they moved freely in a room, he discovered that certain nerve cells got activated when the animal was in a particular location. Crucially, the cells weren’t just registering the location but they were also forming circuits that constituted an inner map of the location.

If the rat was placed in another part of the room, another set of nerve cells got activated. When the animal was moved back to the original location, the original cells were reactivated. The upshot: the memory of a place was stored as a specific combination of these nerve or “place” cells. These “place” cells, Dr. O’Keefe found, are located in a part of the brain called the hippocampus.

In 2005, while conducting similar experiments on rats, the husband-and-wife team of May-Britt Moser and Edvard I. Moser found that nerve cells in a nearby part of the brain called the entorhinal cortex got activated when the animals passed certain locations. Together, the grid cells are a type of navigation chart—a system of coordinates that allow the animals to navigate spatially.

By studying patients undergoing brain surgery, researchers have evidence that similar “place” and “grid” cells also exist in humans.

“Before the discovery of ‘place cells’ we didn’t have any sense of how the brain built maps and computed this information on a cellular level and the understanding of these ‘grid-like cells’ really gives us a navigational chart to operate on as well,” said Juleen Zierath, professor of clinical integrative physiology and chairman of the Nobel committee, in an interview.

These discoveries, though, form just a small part of the complex workings of the human brain. Scientists are now trying to learn more. The U.S. government recently embarked on a large-scale project to create the most comprehensive map of the human brain assembled so far. Europe also has a large $1-billion brain science project in the works.

Regarded as the most prestigious prize for medical and physiological research, the 8 million Swedish kronor ($1.1 million) Nobel award is given to recipients whose discoveries greatly enhance the understanding of life or the practice of medicine. The decision is made by the Nobel Assembly at Stockholm’s Karolinska Institute—a group of 50 professors whose 18-member working body evaluates nominations from scientists around the world and proposes top candidates.

(BFW) Asos Gains; Amazon May be Best Fit, Could Pay 5,000p, UBS Says


Asos Gains; Amazon May be Best Fit, Could Pay 5,000p, UBS Says
2014-10-06 11:12:49.573 GMT


By Gaurav Panchal
Oct. 6 (Bloomberg) -- Asos gains as much as 6.7%, up most
since Sept. 29; trades at 2,036p, vol. 35% of 3-mo.. daily avg.
* UBS says acquisition of Asos by Amazon would increase
strength and number of brand relationships, give access to a
fashionable, low price own-label offering
* Utilizing Amazon ad relationships, Amazon Prime customer
base, infrastructure, IT platform would have potential
to more than double current Asos margin: UBS
* Acquisition of Zappos, rollout of Amazon clothing has
hinted at Amazon’s ambition of increasing international
and clothing exposure: UBS
* Acquisition of Zappos, rollout of Amazon clothing has
hinted at Amazon’s ambition of increasing international
and clothing exposure: UBS</li></ul>
* Reiterates buy, PT raised to 4,050p vs 4,000p
* NOTE: Asos hit its 52-week high in Feb. at 7,050p
* Short Interest: 10% of shares out, about 4 days to
cover: Markit
* Short Interest: 10% of shares out, about 4 days to
cover: Markit</li></ul>


Link to Company News:{AMZN US <Equity> CN <GO>}
Link to Company News:{ASC LN <Equity> CN <GO>}

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

To contact the editor responsible for this story:
Gaurav Panchal at +44-20-7392-0511 or
gpanchal2@bloomberg.net

>>> US Early premarket gappers

Early premarket gappers

Gapping up: CFN +25.5%, PBR +14.5%, IGLD +10.4%, BDX +8.1%, PSTI +8.1%, MZOR +7.5%, HPQ +6.7%, MNOV +6%,HEB +5.4%, SMIT +4.6%, VALE +4.4%, MHR +3.9%, NOK +3.6%, PT +3.5%, MGM +2.8%, NNVC +2.5%, LVS +2.4%, AG+2.2%, BCS +2.1%, KNDI +1.9%, GPRO +1.9%, EXXI +1.8%, NXTD +1.8%, LAKE +1.7%, CDE +1.7%, BCRX +1.6%, LINTA+1.3%, ALLT +1.2%, SLV +1.1%, ZMH +0.9%, SIGA +0.7%, DIS +0.6%, BHP +0.6%

Gapping down: SNSS -58.6%, ADHD -45.4%, RSH -9.1%, EMITF -5.7%, TKMR -4.8%, MBLY -1.6%, MU -1.2%, HRB -1%,STO -0.8%, TOT -0.7%, RDS.A -0.4%

>>> Bureau Veritas : Awarded concession to operate foreign trade single window i

Awarded concession to operate foreign trade single window in DR Congo; financial terms undisclosed 

The Democratic Republic of the Congo has awarded the consortium Bureau Veritas BIVAC B.V. / Soget, the concession to set up and operate the Single Window for facilitating trade.

This paperless and secure platform will apply to all categories of goods whatever the mode of transport, both import and export, transit or transhipment. A particular innovative billing system, which monitors costs and taxes more efficiently, will be at the heart of the new Single Window.