>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: EA +16.9%, ARRS +13.1%, ENPH +9.1% (light volume), OXGN +7.2% (light volume), STXS +6.7%, JIVE +6.5%, GALE +5.7%, MDLZ +5.1%, (also co is merging its coffee business with D.E Master Blenders, to be called Jacobs Douwe Egberts; announces new restructuring program), ZAGG +5% (light volume), TTGT +4.9%, (light volume),PEGA +4.6%, VSI +4.5%, FSLR +4.4%, WPX +3.9% (also plans to sell certain working interests for $355 million), PRCP +3.7%, NOA +3.5%, (light volume), ATVI +3.3%, EXAM +3%, (light volume), TRIP +2.9%, (signs exclusive offer to acquire lafourchette; terms not disclosed), IAG +2.8%, (light volume), PXD +2.6%, RDN +2.5%, (filed for a mixed securities shelf offering for an undisclosed amount), CHK +2.3%, PZZA +2.1% (light volume), DEG +2.1%, SI +2.1%, TRMR +2%, (light volume), CHK +1.9%, DVN +1.2%, DIS +1%, MRO +0.9%, NYMT +0.9%, PBPB +0.7%, CTSH +0.7%, ETP +0.4%, TRNX +0.3% (light volume), AGU +0.2%.

A few battery related names showing strength: QTWW +20.1% (partners with Ryder to offer new technology for compressed natural gas truck fleets), PLUG +2.9%, CPST +2.8%, TSLA +0.6% (Barron's profiles positive options trade on Tesla).

Select metals/mining stocks trading higher: HMY +2.5%, AUY +2.2%, SLV +1.1%, .

Select oil/gas related names showing strength: FST +4.4% (upgraded to Equal Weight from Underweight at Morgan Stanley), ECA +3.2% (Freeport-McMoRan announces agreement to sell Eagle Ford interests for $3.1 bln to a subsidiary of Encana), TOT +1.5%, STO +1.3% (starts latest Gulf of Mexico drilling campaign; Says 70% oil recovery is achievable in its Johan Sverdrup field in the Norwegian continental shelf ), SDRL +1% (Seadrill Ltd announces disclosure regarding Sevan Drilling ASA ), HFC +0.2% (upgraded to Outperform from Neutral at Credit Suisse) .

Other news: TNET +18.1% (light volume, not seeing catalyst, recent IPO), CZR +7.8% (announces comprehensive financing plan designed to position Caesars Entertainment operating co for stock listing and significant deleveraging; CEOC launches first lien incremental term loan and refinancing of all 2015 maturities), EXEL +7.4% (Exelixis presents final Phase 1b data for Cobimetinib in combination with Vemurafenib), MNGA +7.1% (Magnegas Signs New California Distributor), MNKD +5.4% (checking for catalyst-confirmed to report earnings next week on May 12), VECO +2.9% (appoints Shubham Maheshwari as Chief Financial Officer), PCRX +2.9% (still checking), PHG +2.6% (still checking), ELX +2.6% (insider buy disclosure), RYAAY +1.9% (still checking), SFNC+1.7% (announces agreement to acquire Community First Bancshares for ~$243.4 mln; transaction is expected to be immediately accretive ), HCA +1.6% (HCA lead bidder for Healthscope, according to reports out ), HLF +1.1% (entered into an agreement with Bank of America Merrill Lynch to repurchase $266 million of Herbalife's common shares), YHOO +0.7% (Alibaba files for US IPO),MMLP +0.5% (prices public offering of 3.6 mln common units at $41.51 per unit ), PCLN +0.3% (following TRIP results).

Analyst comments: HLT +2.2% (upgraded to Overweight from Equal Weight at Morgan Stanley), JCP +1.4% (upgraded to Neutral from Sell at UBS; tgt raised to $9 from $4 ), AEIS +0.2% (upgraded to Strong Buy from Outperform at Raymond James),

>>> US Gapping Up

Gapping up

In reaction to strong earnings/guidance: EA +16.9%, ARRS +13.1%, ENPH +9.1% (light volume), OXGN +7.2% (light volume), STXS +6.7%, JIVE +6.5%, GALE +5.7%, MDLZ +5.1%, (also co is merging its coffee business with D.E Master Blenders, to be called Jacobs Douwe Egberts; announces new restructuring program), ZAGG +5% (light volume), TTGT +4.9%, (light volume), PEGA +4.6%, VSI +4.5%, FSLR +4.4%, WPX +3.9% (also plans to sell certain working interests for $355 million), PRCP +3.7%, NOA +3.5%, (light volume), ATVI +3.3%, EXAM +3%, (light volume), TRIP +2.9%, (signs exclusive offer to acquire lafourchette; terms not disclosed), IAG +2.8%, (light volume), PXD +2.6%, RDN +2.5%, (filed for a mixed securities shelf offering for an undisclosed amount), CHK +2.3%, PZZA +2.1% (light volume), DEG +2.1%, SI +2.1%, TRMR +2%, (light volume), CHK +1.9%, DVN +1.2%, DIS +1%, MRO +0.9%, NYMT +0.9%, PBPB +0.7%, CTSH +0.7%, ETP +0.4%, TRNX +0.3% (light volume), AGU +0.2%.

A few battery related names showing strength: QTWW +20.1% (partners with Ryder to offer new technology for compressed natural gas truck fleets), PLUG +2.9%, CPST +2.8%, TSLA +0.6% (Barron's profiles positive options trade on Tesla).

Select metals/mining stocks trading higher: HMY +2.5%, AUY +2.2%, SLV +1.1%, .

Select oil/gas related names showing strength: FST +4.4% (upgraded to Equal Weight from Underweight at Morgan Stanley), ECA +3.2% (Freeport-McMoRan announces agreement to sell Eagle Ford interests for $3.1 bln to a subsidiary of Encana), TOT +1.5%, STO +1.3% (starts latest Gulf of Mexico drilling campaign; Says 70% oil recovery is achievable in its Johan Sverdrup field in the Norwegian continental shelf ), SDRL +1% (Seadrill Ltd announces disclosure regarding Sevan Drilling ASA ), HFC +0.2% (upgraded to Outperform from Neutral at Credit Suisse) .

Other news: TNET +18.1% (light volume, not seeing catalyst, recent IPO), CZR +7.8% (announces comprehensive financing plan designed to position Caesars Entertainment operating co for stock listing and significant deleveraging; CEOC launches first lien incremental term loan and refinancing of all 2015 maturities), EXEL +7.4% (Exelixis presents final Phase 1b data for Cobimetinib in combination with Vemurafenib), MNGA +7.1% (Magnegas Signs New California Distributor), MNKD +5.4% (checking for catalyst-confirmed to report earnings next week on May 12), VECO +2.9% (appoints Shubham Maheshwari as Chief Financial Officer), PCRX +2.9% (still checking), PHG +2.6% (still checking), ELX +2.6% (insider buy disclosure), RYAAY +1.9% (still checking), SFNC +1.7% (announces agreement to acquire Community First Bancshares for ~$243.4 mln; transaction is expected to be immediately accretive ), HCA +1.6% (HCA lead bidder for Healthscope, according to reports out ), HLF +1.1% (entered into an agreement with Bank of America Merrill Lynch to repurchase $266 million of Herbalife's common shares), YHOO +0.7% (Alibaba files for US IPO), MMLP +0.5% (prices public offering of 3.6 mln common units at $41.51 per unit ), PCLN +0.3% (following TRIP results).

Analyst comments: HLT +2.2% (upgraded to Overweight from Equal Weight at Morgan Stanley), JCP +1.4% (upgraded to Neutral from Sell at UBS; tgt raised to $9 from $4 ), AEIS +0.2% (upgraded to Strong Buy from Outperform at Raymond James), 

WSJ : Mondelez Combines Coffee Business With D.E. Master Ble

Mondelez Combines Coffee Business With D.E. Master Blenders

Mondelez International Inc. on Wednesday said it has agreed to combine its coffee portfolio with D.E. Master Blenders 1753 B.V. to create a new coffee company.

The new company will be called Jacobs Douwe Egberts and will be based in the Netherlands. It is expected to have annual revenue of more than $7 billion, the companies said.

Mondelez will receive about $5 billion in cash and own a 49% equity interest in the new company.

Mondelez also reported its first-quarter results Wednesday, posting a 70% decline in net profit, reflecting a jump in interest and other expenses in the period.

>>> US Early premarket gappers

Early premarket gappers

Gapping up: EA +15.5%, ARRS +10.8%, ENPH +9.1%, CPST +9%, VSI +8.9%, QTWW +8.6%, CZR +7.8%, OXGN +7.2%, STXS +6.7%, JIVE +6.5%, GALE +5.7%, ZAGG +5%, TTGT +4.9%, PEGA +4.6%, WPX +3.9%, FSLR +3.6%, NOA +3.5%, ATVI +3.3%, PRCP +3.1%, EXAM +3%, VECO +2.9%, IAG +2.8%, PXD +2.6%, AUY +2.2%, PZZA +2.1%, TRMR +2%, PBPB +2%,SFNC +1.7%, SI +1.7%, HCA +1.6%, PLUG +1.6%, MRO +1.5%, JCP +1.4%, TRIP +1.4%, SLV +1.1%, RDN +1.1%, DIS +1%, NYMT +0.9%

Gapping down: DTLK -19.1%, RLOC -18.9%, AVNW -17.4%, AEGR -16.1%, ZU -15.4%, WFM -13.7%, OCLR -12.8%, EXTR -11.1%, EXTR -10.9%, GNC -10.7%, CODE -10.6%, FEYE -9.8%, TRMB -9.4%, FNGN -7%, GRPN -6.5%, CNVR -6.4%, INFY -5%, SBRA -4.8%, TFM -4.4%, GWPH -4.4%, GWPH -4.4%, VE -3.6%, FCEL -3.3%, BLDP -2.6%, ESRT -2.5%, AOL -2.1%, SSNI-2.1%, AMTD -1.5%, ETFC -1.5%, BHP -1.4%, HSBC -1.1%, AZN -1%, BBL -1%, FNSR -0.9%, PFE -0.8%, RIG -0.8%

(BN) *MEDA CEO DECLINES TO COMMENT ON WILLINGNESS TO SELL COMPANY

+------------------------------------------------------------------------------+

BN 05/07 09:20 *MEDA CFO: WE WILL BE LOOKING FOR TAX SYNERGIES WITH M&A BN 05/07 09:18 *MEDA CEO LOOKING FOR COMPLEMENTARY ASSETS TO CURRENT BUSINESS BN 05/07 09:12 *MEDA CEO: ACQUISITION STRATEGY IS NOT DEFENSE STRATEGY BN 05/07 09:06 *MEDA CEO DECLINES TO COMMENT ON MYLAN PROPOSAL BN 05/07 09:02 *MEDA CEO: "WE HAVE A TARGET LIST" FOR ACQUISITIONS BN 05/07 09:02 *MEDA CFO: WE ARE BUILDING UP SIZEABLE FIREPOWER FOR M&A BN 05/07 08:56 *MEDA CEO: EITHER YOU EAT OR BE EATEN; WE PREFER TO EAT BN 05/07 08:52 *MEDA CEO DIERKS SPEAKS IN CONFERENCE CALL BN 05/07 08:52 *MEDA CEO SEES NO REASON COMPANY WON'T DOUBLE IN SIZE IN 2 YRS BN 05/07 08:51 *MEDA PLANS TRANSFORMATIONAL, STRATEGIC, "MAJOR" ACQUISITIONS BN 05/07 08:50 *MEDA PLANS TRANSFORMATON, STRATEGIC, "MAJOR" ACQUISITIONS

+------------------------------------------------------------------------------+

*MEDA CEO DECLINES TO COMMENT ON WILLINGNESS TO SELL COMPANY 2014-05-07 09:17:57.364 GMT

--MAKIKO KITAMURA

-0- May/07/2014 09:17 GMT

(BFW) Alstom Will Probably Reward Shareholders Via Share Buyback: CFO

+------------------------------------------------------------------------------+

BFW 05/07 08:19 *ALSTOM TO PROBABLY REWARD SHAREHOLDERS VIA SHARE BUYBACK: CFO BN 05/07 08:16 *ALSTOM TO USE PART OF SALE PROCEEDS TO PAY DOWN DEBT BN 05/07 08:16 *ALSTOM CFO SAYS SHARE BUYBACK REDUCES TAX ISSUES BN 05/07 08:16 *ALSTOM TO PROBABLY REWARD SHAREHOLDERS VIA SHARE BUYBACK: CFO

+------------------------------------------------------------------------------+

Alstom Will Probably Reward Shareholders Via Share Buyback: CFO 2014-05-07 08:24:42.121 GMT

By Francois de Beaupuy May 7 (Bloomberg) -- Chief Financial Officer Nicolas Tissot says in Paris that a buyback would reduce tax issues. * Part of sale proceeds will be used to repay debt, CFO says.

Link to Company News:{ALO FP <Equity> CN <GO>} Link to Company News:{EN FP <Equity> CN <GO>} Link to Company News:{GE US <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: David Whitehouse at +33-1-5365-5059 or dwhitehouse1@bloomberg.net

>>> What to look at today - 07/05/2014

US Market closed lower, Small caps lower with Russell belwo its 200d MA, Financial Underperform too -1,4% with discretaionary...volumes were below average at 690 mil shares... VIX @ 13,80 +3,9%...After Hours: EA +15.2%, ARRS +11.1%, OXGN +7.2%, DTLK -19.1%, RLOC -19%, ZU -16.2% following earnings/guidance... Nikkei225 is leading regional indices to the downside, falling 2.3% in the morning session in a catch-up sell-off after two days of holidays. Three consecutive sessions of JPY strength is also driving the sellers, sending the Index to its 3-week low around 14,100. Apr 7-8th BOJ meeting minutes saw general agreement that consumer spending is resilient although some fluctuations exist due to sale tax hike, with domestic economy mostly in line
with projections....Nikkei -2,93%...HS-1,14%...Shanghai-0,78%...

Eur$ 1,3918% S&P Fut -0,11% European Fut -0,20%


Keep an eye on :
- ABI BB : AB InBev First-Quarter Sales Growth Tops Forecasts on Brazil (1)
- ALO FP : Alstom FY Net EU556m, Missing Ests; Puts Transport Sale on Hold, Order Backlog, Margin Fell; Transport Outperformed
- ALO FP : France’s SNCF, RATP Want Alstom to Have Critical Mass: Echos
- AIR FP : Airbus Order of >EU500m Might Be Blocked, Handelsblatt Reports
- AZN LN : Buy Astra, Deal Possible if Pfizer Leaves R&D Untouched: UBS
- BA/ LN : BAE Systems Says Outlook Remains Unchanged
- BAF GY : Balda Ready for Acquisitions in Medical Unit: Boersen-Zeitung
- BLT LN : BHP Sees Strong Iron Ore Demand Growth Over 10 Yrs, Hovers Says
- BNR GY : Brenntag 1Q Oper. Ebitda Misses Est.; Optimistic on Rest of Yr
- BNP FP : BNP to Close Slightly More Than 40 French Branches: Figaro
- BOSS GY : Hugo Boss 1Q Adj. Ebitda Misses Ests., Confirms Forecast
- BPE IM : Popolare Emilia Romagna Plans to Raise Up to EU750m
- CAVALI : Permira Fund May Purchase 60% Stake of Cavalli Group: Repubblica
- CARLB DC : Carlsberg 1Q Ebit Misses Estimates; Outlook Cut on Russia
- CBK GY : Commerzbank 1Q Net Misses, RWAs Increase to EU218b
- CGG FP : CGG 1Q Net Loss $39m vs Est. -$5.4m; Backlog at April 1 $1.2b
- CNP FP : CNP Assurances 1Q Net Income EU256m vs EU230m
- ACA FP : Credit Agricole 1Q Net In Line as Loan Loss Provisions Drop
- CRH LN : CRH Sees 1H Ebitda Higher, 2H Ebitda Somewhat Ahead of Last Year
- DELB BB : Delhaize 1Q Net EU80m; Est. EU87.2m; Reiterates 2014 Capex Goal
- DLG GY : Dialog Semi Sees 2Q Sales in Line With Ests. as 1Q Rev. Beats
- DRW3 GY : Draegerwerk 1Q Ebit, Sales Miss; Keeps Forecast
- ELE SM : Endesa 1Q Net EU448 Mln; Analyst Est. EU508.2 Mln
- ELG GY : Elmos Semiconductor Q1 Sales Rise 14.4%, Confirms 2014 Outlook
- EXP LN : Experian Full Year Rev., Pretax In Line; Interim Div. 26c
- FOE NO : Fred Olsen Energy 1Q Ebit $39m vs Est. $51m; Net Attrib. $23m
- F IM : Fiat 1Q Profit Misses Estimate
- GFS LN : G4S Says 1Q Financial Performance in Line With Forecasts
- GFJ GY : Gagfah 1Q Recurring FFO Almost Doubles; Raises 2014 FFO Outlook
- GMM GY : Grammer 1Q Revenue, Ebit Rise; Ebit Margin Unchanged
- HEI GY : HeidelbergCement Sales, OIBD Beat; Confirms 2014 Outlook
- HEN3 GY : Henkel 1Q Organic Sales Growth Beats Estimates, Confirms Outlook
- HNR1 GY : Hannover Re 1Q Profit Beats Estimates; Combined Ratio Rises
- IMT LN : Imperial Tobacco 1H Reported Adj. EPS Misses Ests.
- INGA NA : ING 1Q Net Loss Beats; NN Unit to Get EU850m Capital Injection
- ISAT LN : Inmarsat 1Q Adj. Revenue Falls, Says Global Xpress on Track
- KU@ GY : Kuka 1Q Ebit EU27.1m vs EU28.4m, Confirms 2014 Forecast
- LR FP : Legrand 1Q Sales Below Estimates, Confirms 2014 Targets
- LUN DC : Lundbeck 1Q Net, Rev. Misses; Keeps 2014 Forecast, Lundin Petroleum 1Q Net Income $4.4m vs Est. $1.56m
- MEDAA SS : Meda 1Q Ebitda Beats Est.; Keeps Outlook
- NEX FP : Nexans Rejects Amber Bid to Split Chairman-CEO Roles: Reuters
- NHH SM : NH Hoteles 1Q Net Loss EU38.6m Vs EU41.5m Y/y
- NRE1V FH : Nokian Renkaat 1Q Profit Misses Ests.; Keeps Outlook Unchanged
- PSG SM : Prosegur 1Q Net EU39 Mln Vs Analyst Estimate o
- QIA GY : Qiagen 1Q Adj. EPS, Rev. Meets Estimates
- REC BB : Recticel 1Q Combined Sales Rise 4.9%, Sees FY Up About 2%
- RR/ LN : Rolls-Royce to Sell Energy Ops to Siemens for GBP785m Cash
- SCH NO : Schibsted 1Q Sales Rise; Sees Online Classified Growth Potential
- SIE GY : Siemens 2Q Income From Continuing Ops Rises, Confirms Forecast
- GLE FP : Societe Generale 1Q Net Income Misses on Russia Writedown, Sees ‘Moderate’ Positive Earnings Impact From Newedge
- SGO FP : Wendel Group to Sell ~EU1 Billion Stake in Saint-Gobain
- STB NO : Storebrand 1Q Profit Pre Amortisation, Writedowns Rise to NK728m
- SCMN VX: Swisscom 1Q Sales Beat, Reiterates Financial Targets
- SREN VX : Swiss Re 1Q Net Beats, Says on Track to Reach 2011-2015 Targets
- VER AV : Verbund 1Q Profit Nearly Halves as Electricity Prices Drop
- VIE FP : Veolia CEO Says Doesn’t See Consolidation in Water Sector

>>> Brokers Upgrades & downgrades

>>> Up
*ACERINOX RAISED TO NEUTRAL VS UNDERPERFORM AT BOFAML
*BALFOUR BEATTY RAISED TO NEUTRAL VS SELL AT UBS
*BOLIDEN RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*BOLIDEN RAISED TO BUY AT SEB
*DUERR RAISED TO OVERWEIGHT VS NEUTRAL AT HSBC
*KORIAN RAISED TO OUTPERFORM VS NEUTRAL AT EXANE
*OUTOKUMPU RAISED TO BUY VS UNDERPERFORM AT BOFAML
*PUBLIC POWER CORP RAISED TO BUY VS NEUTRAL AT GOLDMAN
*RUSAL RAISED TO BUY VS NEUTRAL AT BOFAML
*SOLVAY RAISED TO HOLD VS SELL AT BERENBERG

>>> Down
*ABERTIS CUT TO MARKET PERFORM VS OUTPERFORM AT RAYMOND JAMES
*BALFOUR BEATTY CUT TO HOLD VS BUY AT JEFFERIES
*CARACAL ENERGY CUT TO SELL VS HOLD AT SOCGEN
*INTU PROPERTIES CUT TO UNDERWEIGHT VS NEUTRAL AT JPMORGAN
*LUNDIN PETROLEUM CUT TO HOLD VS BUY AT SOCGEN
*MAUREL ET PROM CUT TO SELL VS HOLD AT SOCGEN
*SCA CUT TO HOLD VS BUY AT SOCGEN
*TATE & LYLE CUT TO UNDERPERFORM VS NEUTRAL AT EXANE
*TDC CUT TO NEUTRAL VS OVERWEIGHT AT JPMORGAN

>>> PT Change


>>> Initiation
*BRIT PLC RATED NEW OVERWEIGHT AT JPMORGAN; PT 256P

>>> Call