(BFW) Closed Ukraine Airspace Handled 350 Daily Flights: Eurocontrol


Closed Ukraine Airspace Handled 350 Daily Flights: Eurocontrol
2014-07-18 11:57:56.785 GMT


By Jonathan Stearns
July 18 (Bloomberg) -- About 350 flights a day passed
through the eastern Ukrainian airspace now closed to commercial
airlines as a result of the country’s conflict with pro-Russian
separatists, says an official from Eurocontrol.
* Of this total, about 150 flights a day were by western and
central European carriers on Asian routes, Brian Flynn, a
senior manager at the European air-navigation agency, tells
reporters in Brussels
* Those 150 flights would have crossed eastern Ukraine at a
height of more than 32,000 feet, the level above which the
airspace was open until yesterday, says Flynn
* Ukraine on July 1 closed its eastern airspace up to 26,000
feet and on July 14 raised the ceiling to 32,000 feet before
shutting the whole zone because of yesterday’s crash of a
Malaysian Airline System Bhd. plane, he says
* Past civil conflicts including those in Kosovo and Libya
provoked partial airspace closures, according to Flynn
* “It’s not very common, but it’s not that unusual, to have
different degrees of restriction,” he says
* With Ukraine saying pro-Russian militants fired a missile
that knocked the Boeing Co. 777 aircraft traveling from
Amsterdam to Kuala Lumpur out of the sky 50 kilometers (30
miles) from the Russian border, Flynn says: “We have no
reason whatsoever to believe there was anything wrong with
the flight before it disappeared from radar”
* NOTE: Russia and Ukraine Trade Accusations on Downing of
Malaysia Jet {NSN N8WLZV6S9736 <GO>}
* NOTE: July 17: Eurocontrol Says It Rejects Flight Plans Over
Eastern Ukraine {NSN N8VGSK6TTDSA <GO>}


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(Oppenheimer) Starbucks: Still prefer SBUX over MCD

Starbucks: Still prefer SBUX over MCD
Oppenheimer continues to favor SBUX (Outperform) over MCD (Perform) into next week's results and beyond. While MCD contains limited valuation risk, the Street's sales/earnings estimates through '15 appear too optimistic which could keep the shares restrained. SBUX still has significantly more slack in its model with new internal drivers, fewer external risks and "lower-than-usual" sales/earnings expectations through '15—which gives investors a better opportunity for upside. While SBUX's 24x forward P/E is richer, firm believes comps will remain above average and the stock will continue to grow into its expanding EPS skin.
  • SBUX is set to report 7/24 after the close
  • MCD is set to report 7/22 before the open

>>> NQ Mobile -17.24% (Light volume) on news of changing Auditor



From: LAURENT CHEKROUN ()
Subject: Fwd:>>> NQ Mobile -17.24% (Light volume) on news of changing Auditor
NQ Mobile engages Marcum Bernstein & Pinchuk as its independent auditor

- Co announced that it has engaged Marcum Bernstein Pinchuk as its independent Registered Public Accountant.
- The co's Audit Committee has dismissed PricewaterhouseCoopers Zhong Tian as its Independent Auditor. Effective immediately, the co's Audit Committee has engaged MBP as its new Independent Auditor with respect to the fiscal year 2013 and subsequent periods.
- Following consultation with PwC, the co's Audit Committee confirms that there is no disagreement between the co and PwC on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.
- The co remains fully confident in all of its previously reported financials and filings as to their accuracy and does not expect any material changes.

Last Week Whitney Tilson indicates in its Q2 letter there was short on NQ

>>> PBR +4% Pre-Market on yesterday news

Petrobras Brasileiro extending yesterday afternoon's move higher -- trading 4%+ higher premarket

- Co confirmed yesterday that, in line with its Business and Management Plan which provides for divestment of assets abroad and in Brazil, is negotiating with Cemig - Companhia Energética de Minas Gerais to sell its 40% interest in Gasmig. Gasmig is the sole distributor of piped natural gas in the state of Minas Gerais and is responsible for the distribution of 4.1 million m³/day of natural gas through a network of gas pipelines of around 850 km. Petrobras will closely inform the market and its shareholders about the progress of this operation.

>>> US Early premarket gappers

Early premarket gappers

Gapping up: GTIV +10.9%, SWKS +8.3%, ERIC +7.8%, USU +7.5%, ALU +5.4%, RECN +3.6%, PBR +3.5%, NOK +3.4%, WAL +2.8%, CE +2.4%, WDC +2.3%, GOOG +1.7%, AZN +1.4%, PRAN +1.2%, RFMD +1.2%, MATW +1.1%, TOT +0.9%, GRT +0.7%, GE +0.7%

Gapping down: AMD -18.2%, KTCC -5.6%, TGP -4.2%, ZHNE -3.3%, ROG -3%, PT -2.9%, BGS -2.7%, GLUU -2.6%, AU -1.9%, STX -1.7%, IBM -1.6%, CPHD -1.5%, ABX -1.3%, SHPG -1.1%, SLB -1.1%, SLV -0.9%, RIO -0.5%, HPQ -0.4%

>>> Johnson Controls beats by $0.01, reports revs in-line; guides Q4 EPS in-line

Johnson Controls beats by $0.01, reports revs in-line; guides Q4 EPS in-line

Reports Q3 (Jun) earnings of $0.84 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus Estimate of $0.83; revenues rose 3.0% year/year to $10.81 bln vs the $10.85 bln consensus.
  • Co issues in-line guidance for Q4, sees EPS of $1.00-1.02 vs. $1.01 Capital IQ Consensus Estimate.
  • Automotive Experience revenues from continuing operations in the fiscal third quarter of 2014 were $5.7 bln, up 7 percent compared to the 2013 quarter, reflecting higher automotive production in all geographic regions.
  • Guidance: The company also reaffirmed its full fiscal year guidance for free cash flow of $1.6 bln and segment margin improvements in all three of its businesses. The updated guidance assumes that underlying earnings from the recently announced Air Distribution Technologies acquisition are not material in the fourth quarter.

>>> ECB's Weidmann (Germany): Extended period of too-low inflation could paralyz


ECB's Weidmann (Germany): Extended period of too-low inflation could paralyze the eurozone; there is a danger that low rates will be used to finance additional spending not consolidate govt spending - comments from Madrid 
- Ultra-loose monetary policy poses risks to financial stability 
- There is a danger of bubbles in asset and real estate markets due to the hunt for yield - ECB must not put off raising rates to help public finances 
- Monetary policy has done its bit towards maintaining price stability

(NY Post) $100/share enough for Fox to seal Time Warner deal

For Time Warner shareholders, the magic number is 100.
Although CEO Jeff Bewkes was quick to shoot down an acquisition by Rupert Murdoch’s 21st Century Fox, Time Warner shareholders could easily be swayed with a bid around $100 a share, said sources close to the situation.
That would be 18 percent above Fox’s initial $85-a-share proposal, a mix of non-voting shares and cash. Time Warner investors are also hoping for more cash and Fox shares with voting rights, sources said.
“They need to sweeten it a little bit,” said one source close to talks. “Make it 60 percent cash and the rest in stock and mix in some Class B [voting] shares.”
Clearly, Time Warner investors believe that both media conglomerates are just biding their time.
Time Warner’s stock rose another 3.6 percent on Thursday, to close at $86.12, after jumping 17 percent the previous day when the rejected bid was leaked.
“The clock is ticking on Time Warner’s independence,” said Michael Nathanson, a media analyst at MoffettNathanson. “It’s not the final offer, but the leak created a higher-priced Time Warner.”
Nathanson said the expectation is that Fox will be back with another bid in the $90s. Neither company would comment.
The next step in the merger dance could happen Aug. 6, when both companies are set to report quarterly earnings with investors itching to hear more.
The two media giants will spend the next three to six months explaining their positions, said Nathanson.
No doubt Time Warner will continue to claim it’s better off as a stand-alone company, while Fox will talk about how well the two fit together.
One M&A specialist said both companies have factors working in their favor.
“Time Warner is in the catbird seat. The stock has performed well. There is no angry investor base,” this person said.
At the same time, Fox’s bid was well timed with other potential suitors, such as the telecom giants, pursuing other deals, the person added.
The overall M&A environment is also hungry for this kind of deal with the debt financing market red hot.
“The animal spirits are reinvigorated,” this person said.

(BFW) SoftBank’s T-Mobile Agreement Seen Delayed Until August: Kyodo


BN 07/18 09:41 *SOFTBANK-DEUTSCHE TELEKOM TALKS WON'T END BY LATE AUGUST: KYODO
BN 07/18 09:40 *SOFTBANK'S T-MOBILE AGREEMENT SEEN DELAYED UNTIL AUGUST: KYODO

SoftBank’s T-Mobile Agreement Seen Delayed Until August: Kyodo
2014-07-18 09:45:25.236 GMT


By Kanoko Matsuyama and Takashi Amano
July 18 (Bloomberg) -- The talks with Deutsche Telekom will
not end by the original plan date of Aug. 8, Kyodo News reports
without citing its sources.
* Deutsche Telekom requested SoftBank to submit a new plan:
Kyodo
* Hiroe Kotera, a spokeswoman for SoftBank in Tokyo, declined
to comment


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