>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: VIPS +23.2%, AMBC +3.3%, YGE +3.2% (preliminary estimates of certain financial results for Q4; sees shipments ahead of guidance), GWRE +3.2%, ACRX +2.8%, (light volume), TSL +2.3%, NUVA +2.2%, MBI +1.7%, (light volume), AZO +1.4%, GEVA +0.6%, (Issued U.S. Patent for Treatment of LAL Deficiency)

Select financial related names showing strength: ING +3.3%, DB +2.7%, RBS +2.6%, BCS +1.9%, MS +1.8%, BBVA +1.8% (Moody's upgrades BBVA's ratings to Baa2; outlook positive on long-term ratings), HSBC +1.3%, BAC +1.2%.

Russia related names rebounding: LXFT +8.9%, QIWI +8.2%, YNDX +7%, MTL +4.7%, MBT +3.6%

Battery related names seeing continued momentum -- boosted by reports of TSLA expansion: FCEL +12.4%, PLUG +11.3%, BLDP +8%, TSLA +3% ( to open 30 new service centers in Europe, according to reports).

Solar names trading higher boosted by SUNE upgrade and TSL/YGE results/guidance: JKS +5.1%, CSIQ +4.9%, SUNE +3.9% (SunEdison upgraded to Overweight from Equal Weight at Morgan Stanley)... Other Clean energy related tickers trading higher (KIOR +5.6%, CPST +4.9%, MY +5.7%, CDTI +3.7%)

China internet related names are higher: DANG +6.2%, YY +3.9%, YOKU +3.2%, WUBA +1.8%, SINA +1.6%, BIDU +1.1% (positive MadMoney mention; also Jingdong rumored to seek investment from Baidu, Qihoo and Tencent for its upcoming IPO, according to Marbridge), QIHU +1%.

Other news: OXBT +33.9% (has been notified by the FDA that the agency has completed its review of the Sep 2013 nonclinical submission and has lifted the clinical hold on Oxycyte ), EPAM +8.4% (modestly rebounding), JCP +6.8% (S&P moves JCP outlook to 'Stable' from 'Negative' ), GTAT +6.4% ( delays form 10-K filing due to a tax matter; resolution expected to have no impact on guidance and financial results previously reported), FREE +4.9% (announces the sale of the M/V Free Knight), QCOM +3.2% (raises quarterly dividend by 20% to $0.42 per share from $0.35 per share; Board approves $5.0 bln increase in co's stock repurchase authorization ), ASML +2.3% (still checking), TOT +2% (planning to sell 10% stake in Azerbaijan, according to reports), LO +1.6% (trading modestly higher following yesterday's RAI takeover speculation; analysts mixed), GNC +1.4% (positive MadMoney mention), BP +0.6% (responds to Fifth Circuit Decision of Mar 3, 2014; co says it 'disagrees with the decision by the U.S. Court of Appeals for the Fifth Circuit denying the company's request for a permanent injunction preventing certain payments under the Economic and Property Damages Settlement it reached in 2012').

Analyst comments: ANF +4.2% (upgraded to Outperform from Neutral at Credit Suisse), HLT +2.9% (upgraded to Buy from Neutral at Goldman), MGA +2.2% (upgraded to Neutral from Sell at Goldman; upgraded to Neutral from Underweight at JPMorgan)

>>> US Early premarket gappers

Early premarket gappers

Gapping up: VIPS +19.8%, MY +11.4%, FCEL +10.6%, PLUG +10%, BLDP +8.7%, AVL +8.6%, EPAM +8.4%, QIWI +7.9%, GTAT +6.4%, YNDX +5.5%, JKS +5.1%, CSIQ +4.9%, YGE +4.9%, LXFT +4.1%, YY +3.9%, SUNE +3.9%, AMBC +3.3%, DANG +3.2%, GWRE +3.2%, JCP +3.1%, TSLA +3%, ACRX +2.8%, ASML +2.3%, REE +2.2%, NUVA +2.2%, WUBA +1.8%, MBI+1.7%

Gapping down: ACUR -13.2%, MDR -9.4%, IRE -8.1%, MNDL -7.6%, SNTA -6.5%, ASNA -6.2%, BLRX -5.8%, ARP -4%, MCP -3.6%, ASC -3.2%, PDLI -2.8%, ACAD -2.6%, DXPE -2.4%, MNKD -2.1%, RTI -2.1%, OPK -2.1%, COWN -1.6%, MMSI -1.5%, UVE -1.3%, MR -1.2%, DVAX -1.1%, APAM -1.1%, GLD -1%, AU -0.9%

(BFW) *RUSSIA NOT CONSIDERING ADDING CRIMEA TO RUSSIA: PUTIN

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BN 03/04 11:05 *RUSSIA NOT CONSIDERING ADDING CRIMEA TO RUSSIA: PUTIN BN 03/04 10:47 *PUTIN SAYS NO NEED TO SEND TROOPS TO UKRAINE YET BN 03/04 10:46 *YANUKOVYCH IS UKRAINE'S LEGITIMATE PRESIDENT: PUTIN BN 03/04 10:25 *UKRAINE SECURITY COUNCIL'S PARUBIY SPEAKS IN KIEV PARLIAMENT BFW 03/04 10:25 *CRIMEA SITUATION `DIFFICULT BUT STABLE': UKRAINE'S PARUBIY

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*RUSSIA NOT CONSIDERING ADDING CRIMEA TO RUSSIA: PUTIN 2014-03-04 11:06:02.350 GMT

--LEVENT KUCUKREISOGLU

-0- Mar/04/2014 11:06 GMT

WSJ : Roche Looks to Buy as Its Cash Recovers

Roche Looks to Buy as Its Cash Recovers
Departing Chairman Humer Says Debt Pay-Down Offers Opportunities

Roche Holding AG RO.EB +1.16% will have more flexibility to pursue acquisitions in the coming year as the Swiss drug maker pays off the bulk of debt from its $47 billion buyout of Genentech.


Franz Humer plans to step down Tuesday after 13 years as Roche chairman. European Pressphoto Agency

The company—which walked away from a proposed $7 billion deal to buy gene-sequencing group Illumina Inc. ILMN +0.87% in 2012 to avoid overpaying—would continue to look at external opportunities for investment, departing Chairman Franz Humer told The Wall Street Journal.

Roche generated 16.4 billion Swiss francs ($18.6 billion) in free cash flow last year, and analysts expect it to return to a net cash position in 2015.

"I think the accumulation of cash adds to the strategic flexibility that Roche is gaining—strategic and financial flexibility," Mr. Humer said.

"Any acquisition needs to make scientific sense, it needs to make strategic sense and it needs to make financial sense. We don't need to spend that cash," he added.

A Swiss-Austrian and a lawyer by training, Mr. Humer is expected to step down Tuesday after 13 years as chairman of Roche and 10 years as its chief executive, from 1998 to 2008. Mr. Humer, 67 years old, will remain chairman of Diageo DGE.LN +1.25% PLC and a nonexecutive director at Citigroup Inc. C -2.10% Christoph Franz, chief executive of Deutsche Lufthansa AG LHA.XE -0.72% , is set become Roche's new chairman this week.

Mr. Humer revived Roche's fortunes around the turn of the millennium, selling its vitamin division after a price-fixing scandal and turning the company into a cancer and personalized-medicine specialist through the acquisitions of diagnostics group Boehringer Mannheim and biotech group Genentech.

Now the world's largest drug group by market capitalization, at 233 billion Swiss francs, Roche reported a 17% rise in earnings to 11.16 billion Swiss francs in 2013. The results got a boost from sales of cancer drugs, which are four of its five best sellers.

But in recent years, Roche has faced more competition to its leading cancer franchise. Rivals have been attracted by good success rates in regulatory approvals and the high prices they can charge for new drugs.

Analysts see Bristol-Myers Squibb Co. BMY -0.52% and Merck MRK -1.00% & Co. as ahead of Roche in developing new immunotherapy treatments, which use patients' immune systems to fight cancer.

"We probably have a bigger know-how and timing advantage in oncology compared to many of these companies that have only ventured into biologics in the last few years," Mr. Humer said. "I don't believe we are behind on immunotherapies. What combinations of drugs will work, the side effects, is it going to work in every cancer—all that needs to be defined."

Basel-based Roche is trying to lessen its reliance on cancer drugs, with Mr. Humer touting ophthalmology, asthma, multiple sclerosis, immunology and central-nervous-system diseases as some promising areas.

Yet, Roche's research-and-development efforts have suffered a number of setbacks, including the cancellation of a diabetes drug and one designed to boost the level of so-called good cholesterol. A schizophrenia treatment also recently failed to meet its main goal in two late-stage clinical trials.

Roche's mixed R&D track record outside of oncology has led to questions over its decision to maintain three separate research hubs that often work on the same disease areas. Productivity has come into focus as many of Roche's top-selling products come from the labs of only one of the centers.

"I'm a proponent of different research sites in different parts of the world that can compete," Mr. Humer said. "You have to tap into different cultures. I feel confident this is the right approach."

Mr. Humer also said he saw "no need" for Roche to offer to buy back the stake that its crosstown rival Novartis AG NOVN.VX +1.25% holds in the company. Novartis holds 33% of Roche's roughly 160 million voting shares, having started to build the position in 2001 with the idea of a merger. Roche has about 703 million nonvoting shares.

"I'm perfectly happy with the shareholding structure," Mr. Humer said. "There's nothing proactive we could do. We are fiercely independent, we will continue to be fiercely independent."

>>> Russia President Putin: Ukraine suffered an armed coup; overthrowing of govt


Russia President Putin: Ukraine suffered an armed coup; overthrowing of govt was unconstitutional -press conference
- Yanukovych reached agremeent with opposition to give up power; he did not give the illegal order to shoot; He is the legitimate President of Ukraine >- Russian regions will give financial aid to Crimea
- No need to send troops to Ukraine at this time but Russia has the option to do so; is a choice of last resort and to be used only in extreme case; Military exercises in Western Russia had been planned a long time ago

(BFW) Marchionne: Mandatory Convertible Bond Is One of Options

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Marchionne: Mandatory Convertible Bond Is One of Options 2014-03-04 10:46:36.458 GMT

By Tommaso Ebhardt March 4 (Bloomberg) -- Marchionne, speaking at Geneva car show, says he would like listing on NYSE by Oct. 1. * New Fiat business plan to be presented May 6 in Detroit * Marchionne: Ferrari or Maserati share sale not part of new business plan * NOTE from Feb. 27: Fiat Said to Weigh Issuing $2 Billion Mandatory Convertible Bond {NSN N1NOWA6TTDSW <go>}

Link to Company News:{F IM <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: Tommaso Ebhardt in Milan at +39-02-8064-4231 or tebhardt@bloomberg.net

To contact the editor responsible for this story: Dan Liefgreen at +39-02-8064-4204 or dliefgreen@bloomberg.net

(BFW) Beiersdorf to Use Cash For Takeovers ’At Some Point’: CEO

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BN 03/04 09:43 *BEIERSDORF CEO: MAY RAISE CONSUMER UNIT GROWTH TARGET AT END-1H BN 03/04 09:42 *BEIERSDORF: PLANS OVER 4%-6% GROWTH TARGET IN 2014 CONSUM. UNIT BN 03/04 09:32 *NO OTHER COSMETICS CO. GREW FASTER THAN BEIERSDORF IN 2H: CEO BN 03/04 09:27 *BEIERSDORF CEO SAYS CO. WANTS TO GROW EVEN FASTER IN 2014 BN 03/04 09:20 *BEIERSDORF TO USE CASH FOR TAKEOVERS 'AT SOME POINT': CEO BN 03/04 09:19 *BEIERSDORF CEO 'VERY HAPPY' WITH GERMAN, EUROPEAN BUSINESS

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Beiersdorf to Use Cash For Takeovers ’At Some Point’: CEO 2014-03-04 09:45:51.837 GMT

By Gaurav Panchal March 4 (Bloomberg) -- Beiersdorf CEO ‘very happy’ with German, European business * Says co. wants to grow even faster in 2014 * Says no other cosmetics co. grew faster than Beiersdorf in 2H * Plans over 4% to 6% growth target in 2014 consumer unit, may raise unit growth target at end 1H * Earlier: DZ Bank sees good chance of market share gains {NSN N1WMSP6JTSED <go>} * Co. had EU984m cash, cash equivalents as of Dec. 31 vs EU834m yr ago: Presentation {NSN N1WMZZBE07I8 <go>}

Link to Company News:{BEI GR <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: Gaurav Panchal at +44-20-7392-0511 or gpanchal2@bloomberg.net