(BFW) Deutsche Bank’s Von Falkenhayn Leaving, Manager Magazin Says

BFW 06/18 13:52 *DEUTSCHE BANK CB&S CO-HEAD FALKENHAYN LEAVING: MANAGER MAGAZIN
 BN 06/18 13:52 *DEUTSCHE BANK CB&S CO-HEAD FALKENHAYN LEAVING: MANAGER MAGAZIN
 BN 06/18 13:51 *DEUTSCHE BANK GERMAN INV. BANK CO-HEAD LEAVING: MANAGER MAGAZIN
Deutsche Bank’s Von Falkenhayn Leaving, Manager Magazin Says
2014-06-18 14:02:25.551 GMT


By Nicholas Comfort
     June 18 (Bloomberg) -- Armin von Falkenhayn, co-head
Corporate Banking and Securities Germany, to leave Deutsche Bank
after 25 yrs, Manager Magazin reports, without saying how it
obtained the information.
  * Von Falkenhayn joined Dirk Schmitz at top of German
    investment banking business in 2012
  * Departure tied to reshuffle of senior managers that saw
    hiring in February of JPMorgan’s Karl-Georg Altenburg
  * Deutsche Bank spokesman Frank Hartmann declined to comment
    when contacted by Bloomberg News
  * NOTE: Deutsche Bank Names Matherat First Woman on Senior
    Committee {NSN N7BPEI6S972H<Go>}

Link to Company News:{DBK GR <Equity> CN <GO>}

For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
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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:
Angela Cullen at +49-69-92041-158 or
acullen8@bloomberg.net

>>> Allergan, Inc Sun Trust reiterates Buy rating, price target $200

--> This call made Shire spike sooner today - see previous bbg

Allergan, Inc Sun Trust reiterates Buy rating, price target $200
- Firm believes an AGN bid for SHPG is imminent and more attractive than VRXs proposal
- Firm notes that NEWCO is more attractive withou roll-up risk 
- Firm notes that assuming modest synergies, their NEWCO EPS accretion is 50% in Year 1 with their 5-year EPS CAGR rising to 34% from 21% and a ROIC that approaches mid-teens by 2020

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: ADBE +7.7%, FDX +3.9%, GAME +0.4%.

M&A news: LULU +2.6% (attributed to M&A story making the rounds), ACT +1.2% (Forest Labs and Actavis shareholders approve proposals related to Actavis' planned acquisition of Forest), MOVE +1.1% (continuation higher on M&A speculation), TMUS +0.7% (may purchase spectrum assets from smaller cos, according to reports), RHT +0.4% (to acquire eNovance for ~ EUR50 mln in cash and EUR20 mln in shares of RHT common stock).

Select Battery related names showing strength following positive blog mention: PLUG +1.6%, FCEL +1.3%.

Other news: INSM +30.3% (FDA granted Arikayce Breakthrough Therapy Designation for the treatment of adult patients with nontuberculous mycobacterial lung disease), NEWL +23.5% (NewLead Holdings Ltd. announces inappropriate issuance of NewLead's Shares by Ironridge), ETRM +21.1% (FDA Advisory Committee voted 6-2 to recommend approval of VBLOC vagal blocking therapy for the treatment of obesity), BBRY +6.5% (confirms upcoming AMZN app store partnership), APD +6.1% (confirms Seifi Ghasemi has been named its new chairman, president and chief executive officer), APD +5.9% (confirms Seifi Ghasemi has been named its new chairman, president and chief executive officer, effective July 1), AUMN +2.8% (to restart Velardena mining in July 2014), CNHI+2.6% (co's JV TurkTractor announced the opening of its second manufacturing plant in Erenler, raises production capacity to 50,000 tractors per year), ENB +1.9% (Northern Gateway Project received approval from the government of Canada), RDS.B +1.9% (wrapped up its sale of Woodside Petro, positive mention on Mad Money), RAD +1.7% (ahead of earnings tomorrow, peer WAG also was upgraded today), RDS.A +1.6% (same as RDS.B), CBI +1.4% (following 7% move lower yesterday), SUNE +1.4% (co reached a definitive agreement to acquire a 50% ownership stake in Silver Ridge Power from a subsidiary of The AES Corporation), CBI +1.4% (comments on 'misleading and inaccurate report'; reaffirms FY guidance, also upgraded to Buy from Neutral at DA Davidson), FLXN+1.3% (announces 'positive' topline results from Phase 2a pharmacokinetic trial with lead compound FX006), COV +1% (ongoing M&A speculation), UPS +1% (in sympathy with FDX earnings).

Analyst comments: MEET +16.6% (initiated with a Buy at Wunderlich), NMBL +4.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley), WAG +2.2% (upgraded to Overweight from Equal Weight at Barclays), CECO +2.2% (upgraded to Equal Weight from Underweight at First Analysis), DMND +1.9% (upgraded to Buy from Hold at KeyBanc Capital Mkts), IPI +1.8% (initiated with a Overweight at Piper Jaffray), ACT +1.2% (resumed with a Overweight at Morgan Stanley), CSCO +1.1% (initiated with a Overweight at Morgan Stanley), TSN +1.1% (upgraded to Outperform from Mkt Perform at BMO Capital Mkts, SDPI +0.9% (initiated with a Buy at ROTH Capital), CGEN +0.8% (initiated with a Mkt Outperform at JMP Securities), FIVE +0.8% (initiated with a Outperform at Wedbush), DTV +0.6% (upgraded to Buy from Neutral at Buckingham Research)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: LZB -9.5%, CAG -4.1%, ATU -2.6%.

Other news: ECYT -18.7% (has regained the worldwide rights to vintafolide in all indications from Merck), MUX -10.1% (still checking), NGL -5.2% (announced the commencement of an underwritten public offering of 8,000,000 common units representing limited partner interests), GDP -4.6% (announces completion of its Nunnery 12-1H-1 ), GWPH -4.1% (announces 1.7 mln ADS public offering), FBIZ -2.8% (co said it expects to join the Russell 2000 index), CONE -2.5% (CyrusOne files for 12.5 mln share common stock offering in 424B5), SFUN -2.1% (still checking), SCTY -1.9% (following yesterday's 17%+ move higher), CBPO -1.7% (announced proposed public offering of common stock: CBPO to sell 1 mln shares, selling stockholders to sell ~2.2 mln shares), VRNG-1.4% (ZTE (ZTCOF) files antitrust complaint with European Commission against Vringo), SWHC -0.9% (negative Mad Money mention).

Analyst comments: ISIL -3% (downgraded to Hold from Buy at Needham), SPWR -1.7% (downgraded to Neutral from Overweight at JP Morgan), AA -0.6% (Stifel lowers Q2 estimates on lower aluminum prices), GNC -0.5% (downgraded to Neutral from Overweight at JP Morgan).

>>> Conagra - More details

ConAgra follow-up: CAG guides below consensus; cites weakness in Consumer Foods segment, as well as weak profits for the Private Brands segment

Co issues downside guidance for Q4 (May), sees EPS of $0.55 vs. $0.62 Capital IQ Consensus Estimate.
  • The lower-than-planned comparable EPS is largely the result of a 7% quarterly volume decline for the Consumer Foods segment, as well as weak profits for the Private Brands segment.
  • "Given the challenges we faced in fiscal 2014 with regard to Consumer Foods volumes and Private Brands profitability, we are in the process of gradually strengthening several areas of our company.
    • We anticipate fiscal 2015 to be a year of stabilization and recovery that delivers mid-single-digit comparable EPS growth.
    • Comparable EPS growth in fiscal 2016 and 2017 should accelerate to a high-single-digit rate as we benefit from stronger underlying operations, generate sizeable productivity and administrative savings, and continue to realize substantial synergies from the Ralcorp transaction.
    • Administrative savings are expected to play a growing role in future EPS performance as we implement effectiveness and efficiency initiatives resulting from significant work over the past fiscal year.
    • Throughout this period of anticipated stabilization, recovery, and eventual acceleration of EPS performance, we expect to have the flexibility to invest in our business for good long-term growth.
    • We plan to continue our current $1.00 per share annual dividend payment, and remain committed to a strong dividend policy in the future."