>>> Michael Kors: Looking long term and overseas for EPS growth; Buy -- Maxim Gr

Michael Kors: Looking long term and overseas for EPS growth; Buy -- Maxim Group 

Maxim Group thinks long term on KORS, and believes that the consensus numbers in the out years are too low. Additionally, firm expects European wholesale and retail to drive revs and earnings. While firm doesn't expect a repeat of last quarter's 72.7% comp, it does expect significant growth in business. Maxim believes the improving European economy and the stronger Euro should benefit Michael Kors in the quarter.

>>> SAP / Tibco : options acticity

TIBX calls are seeing interest with its shares up 6.7% following SAP for TIBX M&A speculation. So far today 13.9K total calls have traded vs 600 total puts. Most notable are the TIBX Jun 23 calls (volume: 7120, open int: 50, implied vol: ~45%, prev day implied vol: 1%)  -- several transactions above 1K in size traded on the offer. Co is scheduled to present at a Gartner Enterprise Summit on June 4 and is expected to report earnings mid-June, possibly falling within June expiration.

(BFW) Jain Says ECB Tests Will Create Preconditions for Bank Mergers


Jain Says ECB Tests Will Create Preconditions for Bank Mergers
2014-05-27 16:31:31.342 GMT


By Nicholas Comfort and Stephanie Ruhle
     May 27 (Bloomberg) -- “The preconditions for consolidation
will exist once we go through the SSM, stress test, AQR
process,” Deutsche Bank co-CEO Anshu Jain says in Bloomberg
Television interview today.
  * “A lot more needs to happen though for that to really to
    become a trend”: Jain
  * Jain says “Europe is stable now” after ECB’s efforts and
    “true institutions have been built”
  * “GDP growth is still slow to come and I think that will
    really be the challenge over the next few years”: Jain
  * NOTE: ECB to Charge Biggest Banks $20 Million in Supervisory
    Fees NSN N687JR6S972V <GO>

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

To contact the reporter on this story:
Nicholas Comfort in Frankfurt at +49-69-92041-213 or
ncomfort1@bloomberg.net
To contact the editor responsible for this story:
Frank Connelly at +33-1-5365-5063 or
fconnelly@bloomberg.net

(BFW) GE’s Immelt Says GE ‘Deeply Invested in France’


GE’s Immelt Says GE ‘Deeply Invested in France’
2014-05-27 17:10:30.198 GMT


By Laura Kaster
     May 27 (Bloomberg) -- GE’s Jeffrey Immelt tells French
legislators its rail-signaling unit could be sold as part of
Alstom package; GE would increase Alstom jobs, research in
France.
  * NOTE: Earlier, Siemens Will Present Bid for Alstom on June
    16 at Latest
  * NOTE: May 24, GE Would Keep Alstom’s Nuclear Unit in France,
    Gaymard Says
  * NOTE: Earlier, Triumph Group buys GE Aviation Hydraulic

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

To contact the reporter on this story:
Laura Kaster in New York at +1-212-617-9604 or
lkaster2@bloomberg.net
To contact the editors responsible for this story:
Brad Skillman at +1-212-617-2763 or
bskillman1@bloomberg.net
Laura Kaster

(BFW) Osram Licht Adjusts Rev. Outlook for FY 2014


Osram Licht Adjusts Rev. Outlook for FY 2014
2014-05-27 16:36:49.934 GMT


By Jim Silver
     May 27 (Bloomberg) -- Sees FY rev. at last yr’s level, “at
best a modest rev. increase, on a comparable basis.”
  * Osram reiterates outlook for Ebita margin >8%, net income
    rising “sharply”
  * NOTE: Jan. 29, Osram predicted FY comp. rev. growth to
    exceed global real GDP growth, est. at ~3%

Link to Statement:NSN N68QST3PWT1C <GO>
Link to Company News:OSR GR <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:
Jim Silver at +1-212-617-7342 or
jsilver@bloomberg.net

(Challenges) Thales sued for malpractice

Thales sued for malpractice 

--> Link to Google TRanslation {http://bit.ly/1oFC00F}
--> Link to Original in French : {http://bit.ly/TQDThb}

EXCLUSIVE Convened tomorrow Tribunal de Grande Instance de Paris, the group is accused of swindle EU subsidies and fraudulent insolvency organization.

Wednesday, May 28, lawyers Thales and the European Commission are invited to the Tribunal de Grande Instance of Paris for a "hearing fixation" to stop the trial date, which should take place in early October.

Entering by the European Office of Anti-Fraud Office (OLAF), the French justice continues leaders THEC (Thales Engineering and Consulting), a former subsidiary of Thales, for "fraud" EU subsidies in the research project Dreamcar on the fuel cell. THEC would have artificially increased the number of hours of engineers assigned to the project, which would have allowed him to unduly capture 2.7 million euros of EU funds.

Investigators seized "sheets cost", which would show that improper billing. The European Commission, civil party to the proceedings and represented by Parisian lawyer Jean-Didier Belot, made no comment on the case. However, the Court of Justice confirmed on its website , the Commission's application for reimbursement of advances in Dreamcar project.

Fraudulent organization of insolvency

The second aspect of this case is even more explosive: Thales is sued for "fraudulent organization of insolvency." Between 2008 and 2009, the advocacy group has dissolved its subsidiary THEC; but the magistrates suspected of having achieved industrial "fraudulent dissolution" only to stop the prosecution. This particular company was sued in the case of Nice tramway, in which it was fined 600,000 euros for "active corruption" July 4, 2008.

Michel Josserand, the former boss of THEC, was sentenced to 18 months in prison, six months in prison, as Dominique Monleau, former Associate Deputy transport the Mayor of Nice, who was sentenced to four years in prison including two farm.

The subsidiary of Thales, the dissolution had led to the extinction of prosecution. Which had led to its parent to recover € 600,000 initially provisioned to pay the fine. Suddenly, the Paris prosecutor also continuing industry group for "concealment of the proceeds of the offense of fraudulent insolvency organization," Thales has increased its earnings through a provision that would have been used to pay the heavy fine of its subsidiary.

In fact, judges are convinced of the fraudulent nature of the dissolution because THEC was absorbed by a shell, the TDC whose corporate purpose is totally different, and whose only employees are those transferred from THEC after dissolution.

Thales Defence

Thales his side "indisputably the strongest facts alleged against him so." "We will demonstrate that the transfer of the trade THEC was planned well before the investigation into the case of Nice tramway, which was initiated in particular following a complaint by the company," launches Counsel for the industrial group.

Me Nicolas Huc-Morel deplores the procedure chosen by the Public Prosecutor of Paris, which has kept this issue in the preliminary investigation without entrust it to a judge. "The criticism choice of flooring directly enter the court does not allow us to access the folder and therefore to assert our position so far," added the lawyer.

During the hearing on Wednesday, May 28, the defender of Thales may inspect in detail complaints against the industry group. Then he had four months to prepare his defense before trial.