>>> Facebook: Key takeaways from the AdAge Digital 2014 Conference - CRT Capital

Facebook: Key takeaways from the AdAge Digital 2014 Conference - CRT Capital

CRT attended the Ad Age Digital Conference last week and have a positive takeaway for FB vis a vis Instagram. Instagram now has 200mm users and they are starting to use advertising products -- they are working with large brands to make sure that the ads are native to both users and the site. CRT thinks that these products could add $2-3bn in incremental revenues over the next few years which would be very positive for FB shares.

>>> US Gapping down

Gapping down

China internet/tech related names lower following weakness overseas in tech sector: YOKU -2.6%, QIHU -1.9%, WUBA -1.5%, YY -1.4%, BIDU -0.9% (BIDU for CTRP speculation).

Other news: MNKD -19.9% (updates status of New Drug Application for AFREZZA), PFE -2.4% (novel CDK 4/6 inhibitor palbociclib plus Letrozole significantly prolonged progression-free survival in patients with advanced breast cancer ), DDD -2.4% / SSYS -2.3% (may be attributed to cautious 3D printing WSJ story), MA -1.6% (still checking), TSLA -1.5% (will receive fewer California environmental credits for Model S, according to reports out Friday afternoon), ENB -1.4% ( is currently planning on re-exporting Canadian oil, according to reports), FB -1% (still checking for anything specific), GOOG -0.9% ( files mixed securities shelf offering; plans to introduce Android TV, according to reports), AMZN -0.9% (launched Amazon Dash for grocery delivery), VZ -0.9% (Cincinnati Bell to sell wireless spectrum licenses to Verizon Wireless ), ATVI -0.7% (files for ~41.5 mln share common stock offering by selling shareholders), GTAT -0.6% (announces $58.6 mln Specialty Furnace orders this Q ), GSK -0.3% (investigating bribery in Iraq, according to reports).

Analyst comments: CNVR -3% (downgraded to Sell from Neutral at Goldman), MAT -2.3% (downgraded to Underperform from Market Perform at BMO Capital), STO -2.2% (downgraded to Sell from Neutral at Goldman), AEO -2.2% (downgraded to Underperform from Mkt Perform at Cowen )

Fwd:>>> Ctrip.com International, Ltd. Hearing rumors Baidu to fully acquire Ctrip.co

Ctrip.com (+3%) is modestly higher in the premarket on apparent speculation out of China that Baidu (BIDU) may be interested in the company

----- Original Message -----
From: LAURENT CHEKROUN ()
To: LAURENT CHEKROUN ()
At: Apr 6 2014 23:21:50

Ctrip.com International, Ltd. Hearing rumors Baidu to fully acquire Ctrip.com; Baidu said to integrate Ctrip.com and Qunar.com after acquisition - Chinese press
- Ctrip is the largest online travel agency in China. 
- Ctrip and Qunar currently receive large volume of orders through Baidu. 
- Earlier in 2014, there were rumors that Alibaba could invest in Ctrip.

>>> US Gapping up

Gapping up

M&A related: QCOR +33.5% and MNK +10.4% (Questcor to be acquired by MNK in cash/stock - $30.00 per share in cash and 0.897 Mallinckrodt shares), ZLC +5.2% (Signet Jewelers Limited and Zale Corporation Announce Expiration of HSR Act Waiting Period), CTRP +1.8% (BIDU for CTRP speculation), RHHBY +0.2% (acquires IQuum for $275 mln upfront and up to $175 mln in contingent product related milestones), VOCS halted (to be acquired by GTCR for $18.00 per share).

Other news: TFSL +6.9% (MOU lifted from TFS Financial; new 5 mln share stock repurchase program announced ), AGIO +6.5% (reports initial Phase 1 data demonstrating clinical activity of AG-221, first-in-class inhibitor of IDH2 mutations, in patients with advanced blood cancers), PPHM +3.3% (data presented Support potential of combining Peregrine's PS- Bavituximab With Irradiation in lung cancer), CRH +2.3% (still checking), VOD +2.1% (Barron's profiles positive view on Vodafone ), RIO +1.1% ( Court has upheld ruling blocking RIO expansion into Warkworth Mine, according to reports), SINA +1.1% (Weibo IPO may be valued at $3.9 bln, according to reports ), MU +1% (still checking), CCL +0.8% (still checking), NBR +0.5% (following positive MadMoney mention).

Analyst comments: AGIO +6.5% (upgraded to Overweight from Neutral at JP Morgan), ZNGA +2.4% ( added to the best ideas list.at Wedbush), P +1.4% (upgraded to Outperform from Neutral at Wedbush), YELP +0.8% (upgraded to Outperform from Perform at Oppenheimer), NFLX +0.7% (upgraded to Outperform from Perform at Oppenheimer), INTC +0.2% (upgraded to Outperform from Sector Perform at Pacific Crest),

>>> China to steer clear of large stimulus measures, there will be no shift in m


China to steer clear of large stimulus measures, there will be no shift in monetary or fiscal policy - Xinhua
- China is going to avoid going down the "familiar path" of resorting to large stimulus measures for the economy, and there is no sign of a shift in monetary and fiscal policy.
- A 'mini stimulus' theory has been widely circulated after the State Council announced a set of policies on Wednesday. However, any talk about an incoming stimulus package is misleading and those anticipating the kind of stimulus China unleashed following the 2008 global financial crisis are likely to be disappointed.

>>> Gilead defended at RBC, but MRK Hep C data might look good this week, some h

Gilead defended at RBC, but MRK Hep C data might look good this week, some headline risk 

RBC's call on GILD is the stock is very cheap after the pullback, now down to a 11-12x P/E on sellside consensus $6.50 earnings per share in 2015E. But we believe that there is a strong upward bias to estimates this year and that 2015 might come in at least as good as buyside consensus EPS of $8/shr, and they see higher as theoretically possible. This multiple is the lowest the stock has seen since 2009-10 when healthcare was completely out of favor with investors and when bears thought GILD had a HIV patent cliff and that revenues were going to zero by 2018. Competitor Merck (MRK) may have good GT1a data w/o RBV for all-oral HCV combo on Thursday, might come to market by YE15 or 2016.

>>> US Early premarket gappers

Early premarket gappers

Gapping up: TFSL +6.9%, AGIO +6.5%, CRH +2.3%, VOD +2.1%, CTRP +1.8%, RIO +1.1%, MU +1%, MT +0.9%, CCL +0.8%, NFLX +0.7%

Gapping down: MNKD -19.9%, KGJI -13.5%, GTAT -2.4%, DDD -2.4%, PTR -2%, MA -1.6%, TSLA -1.5%, ENB -1.4%, FB -1%, GOOG -0.9%, AMZN -0.9%, VZ -0.9%, PFE -0.8%, ATVI -0.7%

(BFW) Altice May Sell Portugal Cabovisao; Vodafone Likely Buyer: MUSI

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Altice May Sell Portugal Cabovisao; Vodafone Likely Buyer: MUSI 2014-04-07 11:24:51.627 GMT

By Roxana Zega April 7 (Bloomberg) -- Altice may sell Portuguese cable operator Cabovisao after it won the bidding contest for Vivendi’s French phone unit SFR, MUSI analyst Rick Mattila says in client note. * Altice is using a lot of cash for SFR acquisition, so might look to sell something that is non-core * Deal would likely be relatively small in size given Cabovisao’s limited 6% market share in Portugal * Vodafone looks like the most obvious buyer * NOTE: Vodafone Open to Cable Acquisitions in Portugal, Colao Says * NOTE: Billionaire Drahi to Buy Vivendi’s SFR in $23 Billion Deal

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

To contact the reporter on this story: Roxana Zega in Zurich at +41-44-224-4120 or rzega@bloomberg.net To contact the editors responsible for this story: Deborah L Hyde at +44-20-3216-4829 or dhyde10@bloomberg.net Patricia Lui

(BFW) Altice’s Drahi Says Numericable-SFR Will Keep Only SFR Brand

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Altice’s Drahi Says Numericable-SFR Will Keep Only SFR Brand 2014-04-07 10:05:43.523 GMT

By Marie Mawad April 7 (Bloomberg) -- The co. expects the purchase to be completed in 4Q 2014, according to a slide presentation at a press conference in Paris today where Drahi also spoke. * Numericable CEO Eric Denoyer sees “no problem” for the purchase from antitrust watchdog * NOTE: Billionaire Drahi to Buy Vivendi’s SFR in $23 Billion Deal {NSN N3NH6E6TTDS1 <go>}

Link to Company News:{VIV FP <Equity> CN <GO>} Link to Company News:{NUM FP <Equity> CN <GO>} Link to Company News:{ATC NA <Equity> CN <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: Marie Mawad in Paris at +33-1-5530-6290 or mmawad1@bloomberg.net

To contact the editor responsible for this story: Steve Rhinds at +33-1-5365-5072 or srhinds@bloomberg.net