>>> US Early premarket gappers

Early premarket gappers

Gapping up: IRM +25.3%, UNXL +24.3%, EXFO +20.1%, CJES +12.8%, RSH +5.5%, FMS +3.2%, EQIX +2.9%, VOD +1.8%, AA +1.7%, TTWO +1.5%, BIG +1.4%, WOR +1.4%, AES +1.3%, MDT +1.2%, LEN +1.2%, NBR +1.1%, LO +0.8%, WGO +0.8%

Gapping down: CIDM -18.3%, BBBY -7.5%, WIT -6.2%, MLHR -5.8%, BCS -4.9%, CACI -4.6%, FUL -3.5%, FUL -3.5%, CS -3%, DB -2.8%, KPTI -2.3%, HL -1.8%, STM -1.7%, ING -1.5%, IAG -1.3%, PM -1.2%, MRD -1%, VNCE -1%, SLW -0.9%, GOLD -0.9%, SLV -0.8%, HSBC -0.8%, GLD -0.7%, GDX -0.7%, HMY -0.7%

>>> Lennar beats by $0.10, beats on revs --> +2.82% Pre-Open

Lennar beats by $0.10, beats on revs

Reports Q2 (May) earnings of $0.61 per share, $0.10 better than the Capital IQ Consensus Estimate of $0.51; revenues rose 27.5% year/year to $1.82 bln vs the $1.68 bln consensus.
Key metrics:
  • New orders of 6,183 homes - up 8%; new orders dollar value of $2.0 billion - up 21%
  • Backlog of 6,858 homes - up 11%; backlog dollar value of $2.4 billion - up 26%
  • Gross margin on home sales of 25.5% - improved 140 basis points S,G&A expenses as a % of revenues from home sales of 10.8% - improved 10 basis points
GMs
Gross margins on home sales were $695.7 million, or 25.3%, in the six months ended May 31, 2014, compared to $492.3 million, or 23.3%, in the six months ended May 31, 2013. Gross margin percentage on home sales improved compared to the six months ended May 31, 2013, primarily due to a decrease in sales incentives offered to homebuyers as a percentage of revenue from home sales, an increase in the average sales price of homes delivered, a greater percentage of deliveries from the Company's new higher margin communities

NY Post : Barnes & Noble retail to split from Nook

Barnes & Noble hopes to survive by splitting in two.
The largest U.S. brick-and-mortar bookseller, beset by tough competition from online retailers like Amazon and discount stores like Wal-Mart, said Wednesday that it plans to split off its Nook e-reader division as it looks to boost shareholder value.
Investors applauded the news, sending shares up more than 6 percent in midday trading.
The company’s retail business, which has been outperforming its Nook unit, includes its bookstores and BN.com businesses. Nook Media, which counts software company Microsoft Corp. and educational book publisher Pearson Inc. among its investors, houses the digital and college businesses of Barnes & Noble.
CEO Michael Huseby said in an interview with The Associated Press that the separation is the best option for shareholders.
“The businesses can achieve a more favorable capital structure and also operate at a higher level,” if they are separate, he said.
Barnes & Noble spent years investing heavily in its Nook e-book reader and e-book library, but they struggled to be profitable. In December, the company said it was evaluating the future of its tablets, but it still offered a new non-tablet e-book reader during the holiday season. Huseby said the company will continue to offer its Nook glowlight e-reader but for the most part the Nook business will focus on software and its e-book library.
The company expects the separation to be complete by the end of the first quarter of the next calendar year, implying April of 2015.
The New York-based chain, which announced earlier this month that it was teaming with Samsung to develop Nook tablets, said that its board has approved the separation plans. It hopes to complete the separation by the end of 2015′s first quarter.
Barnes & Noble Inc. also reported its fiscal fourth-quarter loss narrowed to $36.7 million, or 72 cents per share, from a loss of $114.8 million, or $2.04 per share, a year earlier. Revenue for the period ended May 3 edged up to $1.32 billion from $1.28 billion.
Analysts surveyed by FactSet expected a loss of 49 cents per share on revenue of $1.19 billion.
Looking ahead, the company anticipates that fiscal 2015 sales at bookstores and college stores open at least a year will decline in the low-single digits.
Shares rose $1.26, or 6.1 percent, to $21.82 in midday trading. The stock had been up 38 percent since the beginning of the year.

NY Post : New York regulators may grant BNP Paribas a grace period

BNP Paribas, the French bank being investigated for money laundering for Sudanese agencies and companies, could see some leniency from New York regulators.
The state Department of Financial Services, headed by Benjamin Lawsky, is focusing on how long of a grace period to allow the bank before dropping the hammer and barring it from clearing transactions in US dollars — the lifeblood of the bank, according to people familiar with the matter.
The ability to process and move around money in the US currency, or dollar clearing, is “central” for BNP Paribas, said Erin Davis, a banking analyst at Morningstar.
“The real question is if they’re not able to transact dollar payments,” she told The Post. “That’s a very critical underlying service for most of their corporate customers.”
A phase-in period would likely allow the bank to complete transactions that are already taking place, she said.
Lawsky’s office is also weighing whether to bar dollar clearing for the whole bank or the units more closely responsible for the alleged money laundering, one person said.
Those areas include the trade finance divisions and commodities businesses in the US and abroad, the person said.
If regulators banned all of BNP from processing dollars, “they would probably go out of business,” Davis said.
Regulators and the bank are still working out settlement terms, which are expected to be announced next week, the person said.
All told, BNP could be on the hook for around $9 billion in fines, a guilty plea for money laundering for entities in blacklisted countries, and the firing of more than 12 people, the person said.
The bank is also likely to claw back salaries from those targeted, the person said.
US prosecutors have alleged that BNP used regional banks outside the US to hide assets from business it did with Sudan, Iran and Cuba, The Post exclusively reported early this month.
The French bank also was alleged to have deliberately changed documents in order to disguise about $100 billion in transfers, much of which came about in the years directly after the 9/11 attacks in New York.
Cesaltine Gregorio, a BNP spokeswoman, wasn’t immediately available for comment.

>>> BoE Financial Policy Committee (FPC) Financial Stability Report: Sets limits

BoE Financial Policy Committee (FPC) Financial Stability Report: Sets limits on size of mortages relative to incomes (as expected), effective Oct 1
- Sets flow limit of 15% on new 4.5% plus LTI mortgages. 
- Targets mortgages of 4.5X borrowers income and higher. 
- Steps will not curb house inflation on MPC central forecast. 
- To set counter cyclical capital buffers every quarter, counter cyclical buffers set at 0% for UK exposure 
- FPC does not believe household debt is a threat to stability at the current time. 
- Lenders should assess whether mortgages are affordable if bank rate rises. 
- BoE Gov Carney: Reiterates policy tools must be used in concert, biggest risk comes from housing market.


--> FTSE LOWER - Led by homebuilders

>>> Kenmare Ress. Confirmed that it has received offer & Rejected it


Kenmare Resources Confirms that it has received an approach from Iluka regarding a possible offer by it for the Company's entire issued and to be issued share capital The proposal received was based on a share for share exchange, with no cash component, with Kenmare shareholders receiving 0.036 new Iluka shares for each Kenmare share they own. The board of Kenmare has rejected Iluka's proposal, which it believes does not recognise the value inherent in Moma as a long-life, low-cost asset.

(BFW) EU Banks Other Than Barclays May See Dark Pool Lawsuits, CS Says

EU Banks Other Than Barclays May See Dark Pool Lawsuits, CS Says
2014-06-26 09:14:02.123 GMT


By Chris Malpass
     June 26 (Bloomberg) -- European banks other than Barclays
that operate dark pools may also face litiation as New York
Attorney General has been requesting information from several
sources, Credit Suisse says in note today.
  * CS notes City of Providence, RI, filed class-action lawsuit
    naming Barclays, Deutsche Bank, UBS
    * Says June 4 CS note estimated Barclays cost of
      litigation for HFT/dark pools at $163m
    * Same note estimated costs of $157m for Deutsche Bank,
      $187m for UBS
  * Says Barclays recently ranked 2nd-largest participant in
    Alternative Trading System data, UBS 3rd, Deutsche 6th
  * Says June 4 note estimated litigation costs to sector at
    $104b, sees upward risk to estimate
  * NOTE: Barclays down as much as 6.7% today, most since
    December, after NY AG says bank falsified marketing
    materials to hide how extent of HFT in its dark pool

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

To contact the reporter on this story:
Chris Malpass in Berlin at +49-30-70010-6234 or
cmalpass@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-7673-2645 or
jludden@bloomberg.net

>>> Adidas - Quick Chart - stock checking/ breaking lows

stock almost 8% on the last few days, stock was not able to hold its 50d MA, rumored last week they could be looking to M&A - (LULU Mentionned : will be -ve for me)

Nike is reporting tonight...

Support on the 71.60 levels for me another 1.8% lower...

ADS is reporting on the 8th of Aug.

Puma is trading below its 3month average, could be a level to watch too...