>>> EuroHedge Awards 2013 -23/01/2014

**** NOMINATION ****

EUROPEAN EQUITY – over $500m
Adelphi Europe
Antares European
BlackRock European
Dabroes
Horseman European Select
MW European TOPS
Pelham Long/Short
TT Mid-Cap Europe Long Short


EUROPEAN EQUITY – under $500m
AlphaGen Tucana
LAE Fund
Lucerne Capital
Madrague Equity Long/Short
Martin Currie European
Pegasus
RWC Samsara
Sphera

GLOBAL EQUITY – over $500m
Egerton
Hengistbury
Lansdowne Developed Markets
MW Eureka
Oceanic
The Children’s Investment Fund

GLOBAL EQUITY – under $500m
Farringdon Alpha One
Horseman Global
Jabcap Global Balanced
Kinsale Compass
Parus

SPECIALIST EQUITY
AlphaGen Octanis
Cazenove UK Dynamic
Ennismore European Smaller Companies
Lansdowne Global Financials
Nordic Alpha
Rhenman Healthcare Equity Long/Short
Tosca Mid-Cap


EMERGING MARKET EQUITY
36ONE Offshore
Adelphi Emerging Europe
Carrhae Capital
Laurium Offshore
PCP Emerging Markets Active
Visio IV South Africa Long/Short


EQUITY MARKET NEUTRAL & QUANTITATIVE STRATEGIES
Abaco Financials
BlackRock Eos
CZ Equilibria
GSA Capital International
GSA QFF
LMR Fund
MW Market Neutral TOPS
Sector Healthcare


CONVERTIBLES & VOLATILITY
Boussard & Gavaudan Fund
Brennus
GLG Global Convertible Bond
Jabcap Global Convertible
Polygon Convertible Opportunity


EVENT DRIVEN & DISTRESSED
Alcentra Global Special Situations
Cheyne European Event-Driven
GLG European Distressed
King Street Europe
Polygon European Equity Opportunity
Tosca Opportunity
York European Opportunities


FIXED INCOME
Asgard Fixed Income
BlackRock Fixed Income Global Alpha
Brummer & Partners Nektar
Capula Global Relative Value
Danske Invest Hedge Fixed Income Strategies
Midgard Fixed Income
Pelagus Capital
Sanctum Fixed Income


CREDIT
Capeview Recovery
Cheyne Corporate Loan
Cheyne Total Return Credit
Gladwyne
Napier Park Global Credit Opportunities
WB Opportunities

SPECIALIST CREDIT
Alcentra Structured Credit Opportunity
Chenavari Toro Capital IA
Chenavari Regulatory Capital
Cheyne High Income Regulatory Capital
Cheyne Real Estate Credit Holdings
Coriolis Catpricorn
Securis I

EMERGING MARKETS
BlackRiver EMEA Investors
BlueCrest Emerging Markets
Finisterre Sovereign Debt
GIB Emerging Markets Opportunities
Pharo Trading
VR Global Offshore


MACRO
ABD Investment Tactical Discretionary Macro
BTG Pactual Global Emerging Markets and Macro
CDAM Global Opportunities
Macrosynergy Trading
North MaxQ Macro
Pharo Macro
Stone Milliner Macro


MANAGED FUTURES, COMMODITY & CURRENCY
Alder Global 20
Amplitude Dynamic Trading
Brummer & Partners Lynx
Cumulus Energy
Man AHL Evolution
PGR Capital Systematic Strategies
Quantica Managed Futures
Winton Futures


MIXED ARBITRAGE & MULTI-STRATEGY
AlphaGen Perseus
Brummer & Partners Carve
Cheyne Multi-Strategy
Chenavari Multi-Strategy
CQS Directional Opportunities
GLG Market Neutral
Jabcap Multi-Strategy
Portland Hill Overseas


EMERGING MANAGER & SMALLER FUND
Alken Capital One
AlphaGen UK Small Cap Best Ideas
Helium Special Situations
IMC Quantitative Indicator
Inflection Point Investments
Ironshield Special Situations
OneWall Global
Ovington
Tosca Focus


UCITS FUND
Catella Nordic Corporate Bond
CF Odey Absolute Return
Cheyne Convertibles Absolute Return
MLIS Och-Ziff Multi-Strategy
MS Algebris Global Financials
Odey Odyssey
Old Mutual Global Equity Absolute Return
XAIA Credit Basis


NEW FUND OF THE YEAR – EQUITY STRATEGIES
AlphaGen Volantis Catalyst
Covalis Capital
Macquarie European Alpha
Sabre Global Opportunities
Silvaris


NEW FUND OF THE YEAR – MACRO, FIXED INCOME & RELATIVE VALUE
ABD Investment Tactical Discretionary Macro
Andurand Commodities
Brummer & Partners Carve
Cheyne Multi-Strategy
Eyck European Tactical Distressed Opportunities


LONG TERM PERFORMANCE - EQUITY STRATEGIES (5 years)
AlphaGen Volantis
GSA Capital International
MW Eureka
OCCO Eastern European
Pelham Long/Short
Polar Capital European Forager
The Children’s Investment Fund


LONG TERM PERFORMANCE – MACRO, FIXED INCOME & RELATIVE VALUE (5 years)
BlackRock Fixed Income Global Alpha
BTG Pactual Global Emerging Markets and Macro
Capula Global Relative Value
CQS Directional Opportunities
Danske Invest Hedge Fixed Income Strategies
GLG Market Neutral
Securis I
VR Global Offshore


MANAGEMENT FIRM OF THE YEAR
Chenavari
Cheyne Capital
Henderson AlphaGen
Jabre Capital
Lansdowne Partners
Marshall Wace

(BFW) Actavis Seen Merging With Teva, Mylan or Novartis: Cowen

+------------------------------------------------------------------------------+

Actavis Seen Merging With Teva, Mylan or Novartis: Cowen 2014-01-10 14:57:50.988 GMT

By Catherine Larkin Jan. 10 (Bloomberg) -- Actavis ultimately will combine with Teva, Mylan or Novartis as generic-drug industry faces significant consolidation of suppliers, Cowen analyst Ken Cacciatore says in note. * Says ACT will continue to consolidate complementary businesses and create value in the interim “to better dictate terms upon their own exit” * Sees Meda, Salix, Galderma as acquisition candidates for ACT * Upgrades ACT to outperform from market perform, PT raised to $215 from $130 (vs Bloomberg avg $186) * NOTE: Earlier, Valeant Seen With ‘Most Urgency’ in Specialty Pharma M&A: Susquehanna * NOTE: From Jan. 8, Morgan Stanley Says Specialty Pharma Consolidation Will Continue

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

To contact the reporter on this story: Catherine Larkin in Chicago at +1-312-443-5968 or clarkin4@bloomberg.net

To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net

Summary re NFP so far - we believe market looks to buy the dip USD and Equities

Summary re NFP so far - we believe market looks to buy the dip USD and Equities with picture so muddied

US NFP 74k VERY WEAK
Expected at 197k vs 203k prev

Unemploymentr Rate MUCH BETTER @ 6.7% vs 7.0% expected

Most not working due to weather at 273,000 most since 1970's -

INTOUCHFX VIEW: We feel market looks to sell the rally.. such a confusing picture ... EURUSD looks a good sell at 1.3650.. market was in mood to buy USD ahead of it.. think they discount the headline .. write it off to weather.. and try get the dollars in cheap here

We think you buy the dip in equities and this backed up here... Market was looking to buy ahead of the data.. it's not great but the picture is so confusing we believe market will go back to what they know and how they felt before.. Will be sensitive to any comments from the Fed however, and we believe in particular that comments on extending forward guidance / lowering unemployment threshold could be crucial


Goldies saying its a very strange report.. with Hatzius looking at weaker side to earnings He feels weather accounts for 50k or so, but still a large gap to account for Upward revisions but not huge so hard to know what accounts for such a large affect


UBS on NFP Breakdown: Based on the weaker weather-related
payrolls data plus some household-survey data on not at work
because of weather, we would estimate the weather drag on Dec
payrolls to be about 45k. So still some underlying softening in
payrolls, but the temporary drag from weather was also
noticeable. That weather drag is of course likely to be
exacerbated by the cold patch in January.
Note: *More than a quarter million Americans were not at work
because of inclement weather, the most for any December since
1997*
USTs: Seems to be behind some of the give back in TYh here.

(BFW) Renault’s Ghosn Favors 2 CEOs for Renault, Nissan:Auto News Link

+------------------------------------------------------------------------------+

Renault’s Ghosn Favors 2 CEOs for Renault, Nissan:Auto News Link 2014-01-10 13:33:47.277 GMT

By Dan Hart Jan. 10 (Bloomberg) -- http://bit.ly/JMOpAB

Link to Company News:{RNO FP <Equity> CN <GO>} Link to Company News:{7201 JP <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: Dan Hart at +1-202-624-1870 or dahart@bloomberg.net

>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: CERE -19.1%, PSUN -15.5% (also downgraded at Janney), SHLD -12.4%, NRP -11.5%, (declares Q4 dividend of $0.35 per share vs $0.55 in prior quarter; reaffirms FY13 guidance; sees FY14 revs of $305-340 mln vs $362.62 mln estimate), AEGR -10.5%, PRGS -10.3%, CUDA -9.6%, ( downgraded to Neutral from Buy at BofA/Merrill), SCVL-6.7%, AA -6.5%, EOPN -6%, FNP -3.5%(also announced company name change to Kate Spade & Company; Craig Leavitt to succeed William McComb as Chief Executive Officer; George Carrara promoted to President and Chief Operating Officer), NSPH -3.4% (light volume), SNX -3.2%, TGT -2.9% (also was upgraded to Buy from Neutral at Goldman), MTH -2.6% (also announces public offering of 2.2 mln shares of common stock), PSMT -2.4%, SAP -2.3%.

Other news: YRCW -18.6% (continued weakness on Teamsters voting; Teamsters reject extending, modifying current restructuring agreement), BV -15.2% (Bazaarvoice comments of court ruling challenging co;s acquisition of PowerRevenues), WYY -6.8% (files for $25 mln mixed securities shelf offering), SNE -3.2% (still checking), BALT -2.4% (still checking), PWRD -2.4% (still checking),DRYS -2.3% (still checking), JCP -1.4% (following SHLD guidance), BHI -1.2% ( provides operational update for the Q4, repurchases $350 mln in common stock), ALU -1.1% (still checking).

Analyst comments: SPLK -2% ( downgraded to Equal Weight from Overweight at Barclays), LNG -1.7% (downgraded to Neutral from Buy at Citigroup), AMBA -1.5% ( downgraded to Hold from Buy at Deutsche Bank), AMCC -1.5% (downgraded to Neutral from Buy at Sterne Agee), PHM -1.2% (PulteGroup downgraded to Underweight from Neutral at JPMorgan ), SI -1% ( downgraded to Neutral from Buy at BofA/Merrill), JNJ -0.5% (downgraded to Equal Weight from Overweight at Barclays), LLY -0.5% (downgraded to Underweight from Equal Weight at Barclays), BLK -0.2% ( downgraded to Neutral from Buy at Goldman), LVS -0.1% (downgraded to Mkt Perform from Outperform at FBR Capital)

>>> Baker Hughes provides operational update for the Q4, provides Q4 EPS guidanc

Baker Hughes provides operational update for the Q4, provides Q4 EPS guidance below consensus; repurchases $350 mln in common stock 

Co provides the following update for the fourth quarter of 2013:

Q4 guidance
Co issues downside guidance for Q4 (Dec), sees EPS of $0.78-0.80, excluding non-recurring items, vs. $0.83 Capital IQ Consensus Estimate.

Operations update pertaining to guidance
Following the disruption to its business in Iraq during the fourth quarter, Baker Hughes resumed operations by the end of December. Due to the lost revenue related to this event, expenses associated with personnel movements and security measures, and other nonrecurring items, the pretax and after-tax profit impact from the disruption in Iraq during the fourth quarter is ~$80 mln, or $0.18 per share.

In the U.S. and the North Sea, activity declined primarily due to weather delays late in the quarter. As a result, North America and Europe/Africa/Russia Caspian operating profit margins declined sequentially.

As a result of the operational items highlighted above, adjusted earnings per share (a non-GAAP financial measure) are estimated to be between $0.60-0.62 per share for the quarter. The estimated adjusted earnings per share exclude $29 mln in after-tax severance costs, or $0.06 per share, incurred during the quarter. If not for the Iraq disruption, the estimated adjusted earnings would be between $0.78-0.80 per share.

Stock Repurchase Update
During the fourth quarter Baker Hughes repurchased ~6.3 mln shares of common stock, totaling $350 mln.

>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: STV +16.2% (ticking higher), ANF +15.9% (also upgraded to Buy from Neutral at Janney), FRAN +13%, ANGO +5.7%, INFY +3.3%, HIIQ +3.3% ( announces preliminary record 2013 premium equivalents driven by strong Q4 sales), GPS +2.2%, AEHR +2.2% (also announces new customer order of more than $1 mln for multiple ABTS Burn-in and Test Systems from a European semiconductor manufacturer), HELE +1.9% (light volume), ZLC +0.6%, (light volume), .

M&A news: SWS +15.5% (Hilltop proposes to acquire SWS Group for $7.00 Per Share in 50% cash and 50% Hilltop common stock ), OMC +2% (Publicis Groupe And Omnicom confirmed yesterday Received Unconditional Clearance From The European Commission), ORAN +1.9% (AT&T and Deutsche Telekom may bid for ORAN; AT&T may offer EUR $15/share, according to reports ).

Select metals/mining stocks trading higher: GOLD +2%, RIO +1.9%, ABX +1.2%, AUY +1%, SLV +0.8%, GDX +0.6%, GLD +0.4%, .

Select oil/gas related names showing strength: STO +2.4% (upgraded to Overweight from Neutral at JP Morgan), RDS.A +1.6% (upgraded to Outperform from Neutral at Exane BNP Paribas ), TOT +0.7%.

Other news: ICPT +28.7% (following after hours NASH and FLINT conference call; was up more than 200 points yesterday; target raised to $872 from $81 at BofA/Merrill), CNAT +14.8% (continued strength), BLDP +14.4% (announces sales agreement with M-Field For Clean Baseload Power Systems), KIN +12.2% (The Baupost Group (Seth Klarman) discloses 17.93% passive stake in 13G filing), IMMU +12% (announces initiation of Phase III clinical trial of Clivatuzumab Tetraxetan in patients with pancreatic cancer), PLUG +11.4% (continued momentum), RIGL +11.1% (earns milestone payment of $5.75 mln from AstraZeneca (AZN) for the continued development of R256 in asthma ), STEM +9.7% (Expands Phase I/II Spinal Cord Injury Trial to North America), GALT +9.7% (has sold 2.39 mln shares of common stock since October 28 at an avg price of $9.99, raising $23.9 mln in net proceeds- Announces Update on Financing Activities and Cash of $32.3 Million), SNTA +9.6% (announces initiation of three multicenter, randomized Phase II/III trials of Ganetespib in acute myeloid leukemia and high risk Myelodysplastic Syndrome), DCTH +9.4% (still checking), IMUC +8.8% (issues shareholder letter providing update on ICT-107 program in newly diagnosed glioblastoma), APO +8.1% (ticking higher, Apollo Global Management Closes Apollo Investment Fund VIII), GALE +7.4% (continued strength), JKS +4.5% (announces agreement to take over assets of Zhejiang Topoint), NBIX +3.1% (announces 12-Week safety results from initial Phase IIB study of VMAT2 Inhibitor NBI-98854; Shows "excellent safety profile"), SQNM +2.3% (announces second national coverage agreement for prenatal diagnostic testing services; downgraded to Neutral from Overweight at Piper Jaffray), MNKD +1% (announces tentative date of FDA advisory committee review of AFREZZA ), YHOO +0.7% (has acquired Aviate for $80 mln, according to reports ), NFLX +0.6% (Netflix app will stream 4K to new TV's right away, according to reports), FB +0.5% (plans to shutdown controversial ad feature this Spring, according to reports; target raised to $65 at Stifel).

Analyst comments: IRWD +4.8% (ticking higher, upgraded to Outperform from Market Perform at BMO Capital), OREX +2.1% (initiated with a Buy at WallachBeth), BBRY +1.6% (upgraded to Sector Perform from Underperform at RBC Capital ), MSFT +1.3% (upgraded to Overweight from Equal Weight at Barclays), CNW +0.5% (upgraded to Outperform from Market Perform at Wells Fargo), M +0.2% (upgraded to Buy from Neutral at Goldman)