TheChek News Flow

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PRN 01/09 07:00 ROLLS-ROYCE HOLDINGS PLC: Statement re Press Comment BFW 01/09 07:03 *ROLLS-ROYCE SAYS WÄRTSILÄ TALKS ARE NO LONGER CONTINUING BFW 01/09 07:02 *ROLLS-ROYCE CONFIRMS HAD BEEN IN PRELIM. TALKS WITH WAERTSILÄ BN 01/09 07:02 *ROLLS-ROYCE SAYS WÄRTSILÄ TALKS ARE NO LONGER CONTINUING BN 01/09 07:01 *ROLLS-ROYCE CONFIRMS HAS BEEN IN PRELIM. TALKS WITH WAERTSILÄ BN 01/09 07:00 *ROLLS-ROYCE HOLDINGS STATEMENT RE PRESS COMMENT

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Rolls-Royce Says No Longer in Talks With Waertsilae 2014-01-09 07:06:23.774 GMT

By Gaurav Panchal Jan. 9 (Bloomberg) -- Responds to press speculation, confirms that it has been in preliminary talks with Waertsilae regarding a possible offer for the company. * Says those discussions are no longer continuing * Statement:{NSN MZ4GSM3MMTC0 <GO>} * Jan. 8: Rolls-Royce Said to Explore Offer for Waertsilae’s Marine Unit {NSN MZ3KGX6K50YD <go>}

Link to Company News:{RR/ LN <Equity> CN <GO>} Link to Company News:{WRT1V FH <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

Asian Market Update: China inflation slows while Australia retail sales surprise higher; BOK on hold as expected

***Observations/Insights*** - US retailers BBBY and ZUMZ down sharply in extended session after lowering guidance. - China inflation slows drastically - CPI fall 0.5pts to a 7-month lows. Food component of the CPI falls nearly 2pts to 4.1%. China trade data will be released in tomorrow's session. - Australia economic data coming in mixed/positive; Despite the soft imports component of the most recent Australia trade figures, retail sales outperform against estimates with a 5th consecutive month of increase. - Bank of Korea leaves rates on hold for the 8th consecutive month as expected. BOK Gov Kim maintains projections for 2014 GDP at 3.8% and also targets 2015 GDP at 4.0%. BOK also reiterated inflation will rise gradually, but remain low for time being.

***Economic Data*** - (CN) CHINA DEC CONSUMER PRICE INDEX (CPI) M/M: +0.3% V -0.1% PRIOR; Y/Y: 2.5% V 2.7%E (7-month low) - (CN) CHINA DEC PRODUCER PRICE INDEX (PPI) Y/Y: -1.4% V -1.3%E (22nd month of decline) - (AU) AUSTRALIA NOV BUILDING APPROVALS M/M: -1.5% V -1.0%E (2nd consecutive decline); Y/Y: 22.2% V 21.1%E - (AU) AUSTRALIA NOV RETAIL SALES M/M: 0.7% V 0.4%E (5th consecutive increase) - (NZ) NEW ZEALAND DEC ANZ COMMODITY PRICE M/M: +1.0% V -0.3% PRIOR - (NZ) NEW ZEALAND NOV BUILDING PERMITS M/M: 11.1% V 0.3% PRIOR (largest increase in 7 months) - (KR) BANK OF KOREA (BOK) LEAVES 7-DAY REPO RATE UNCHANGED AT 2.50% (AS EXPECTED); (8TH STRAIGHT PAUSE) - (JP) JAPAN DEC TOKYO AVERAGE OFFICE VACANCIES: 7.3 V 7.5 PRIOR - (TH) THAILAND DEC CONSUMER CONFIDENCE: 73.4 V 75.0 PRIOR (lowest level in 2-yrs) - (MY) MALAYSIA NOV INDUSTRIAL PRODUCTION: 4.4% V 2.9%E; MANUFACTURING SALES VALUE Y/Y: 4.4% V 1.9% PRIOR

***Fixed Income/Commodities/Currencies*** - JGB: Japan Ministry of Finance (MOF) sells ¥299.5B in 0.1% CPI-linked 10-yr JGB auction, bid-to-cover ratio 2.87x v 3.74x prior - (CN) Daily Shibor fixings: O/N: 2.7940% v 2.8300% prior (12th consecutive decline, lowest since May 15th); 1-week: 4.0200% v 4.1260% prior (6th consecutive decline) - (CN) PBoC won't conduct open market operations (OMO) in today's session (5th consecutive session of halted operations); Zero net position this week v drained CNY29B in prior week - USD/CNY: (CN) PBoC sets yuan mid point at 6.1109 v 6.1079 prior (weakest Yuan setting since Dec 25th) - GLD: SPDR Gold Trust ETF daily holdings fall 1.5 tonnes to 793.1 tonnes (lowest since Jan 2009)

- AUD initially rallied on higher retail sales but met some resistance in the $0.89 handle, selling down below $0.8870 in the afternoon session. Remaining dollar majors were little changed - EUR/USD was modestly firmer above $1.3590 ahead of the ECB decision, while USD/JPY pair is unable to sustain the momentum of 3 consecutive rising sessions to breach the ¥105 handle. NZD/USD was down about 20 pips below $0.8250, while KRW was stronger following the BOK decision - USD/KRW fell below KRW1,065 - second session of losses after 3 days of gains.

***Speakers/Political/In the Papers*** - (CN) Moody's analyst: global environment is the best in years; China economy to keep pace in 2014 - Shanghai Daily - (CN) China Iron and Steel Association (CISA): China average daily crude steel output 1.96M tonnes in late Dec, -2.7% from previous 10 days - financial press - (CN) China Guangdong Province reports 1 new case of H7N9 bird flu; Hong Kong confirms 1 new case of H7N9 bird flu - press - (JP) BOJ board member Shirai: BOJ may ease more 'without hesitation' if necessary; 2% inflation target is major transition in Japan policy; Sees limited upward pressure on JGB yields so far. - (IN) Moody's: India govt debt structure mitigates macro economic imbalances

***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 -1.5%, S&P/ASX -0.2%, Kospi -0.1%, Shanghai Composite +0.4%, Hang Seng -0.1%, Mar S&P500 flat at 1,832, Feb gold +0.1% at $1,227, Feb crude oil +0.7% at $92.58 /brl

US markets: - M: Affirms FY13 EPS guidance; Guides initial FY14 $4.40-4.50 v $4.34e, SSS +2.5-3.0%; Outlines Cost Reduction Initiatives (laying off 2500 workers, 1.4% of workforce) to Support Continued Profitable Sales Growth; savings expected at $100M per year beginning in 2014; +5.3% afterhours - GPN: Reports Q2 $1.02 v $1.02e, R$634.1M v $624Me; +5.1% afterhours - AGU: Announces strategic review of Agrium Advanced Technologies; to transition to two Strategic Business units, Wholesale and Retail in Q1; +2.5% afterhours - RT: Reports Q2 -$0.43 (adj) v -$0.24e, R$276.2M v $271Me; +2.4% afterhours - GG: Reports Q4 gold production 767.7K oz, +11% y/y; Guides 2014 gold production 3.0-3.15M oz, +13-18% y/y; +0.2% afterhours

- AAPL: Apple and Samsung agree to mediation in US patent dispute on or before Fed 19th, with CEOs present - financial press cites court filing; flat afterhours

- DISH: Said to have pulled its bid for Lightsquared; flat afterhours - EXFO: Reports Q1 -$0.01 v +$0.02e, R$56M v $61Me (only 2 ests); saw lower bookings from key customers; -4.8% afterhours - BBBY: Reports Q3 $1.12 v $1.15e, R$2.87B v $2.89Be; Lowers FY13 guidance; Lowers Q4 SSS guidance to 2-4% v 3.5-5.5% prior forecast; FY13 SSS +2.5-3.1% - conf call; -8.4% afterhours - ZUMZ: Reports Dec SSS -2.4% v +1.7%e; Lowers Q4 guidance to $0.56-0.59 v $0.69e; Rev to $226-229M v $234Me (guided R$230-237M prior); -8.5% afterhours

Notable movers by sector: - Consumer discretionary: Qantas QAN.AU +1.6% (Moody's ratings action); Huayi Brothers Media 300027.CN +3.7%, Zhejiang Huace Film & TV 300133.CN +4.8%, China Television Media 600088.CN +2.6% (continued momentum on China box office results) - Industrials: Beijing Jiaxun Feihong Electrical 300213.CN +3.5% (FY13 guidance) - Energy: Offshore Oil Engineering 600583.CN +9.9% (FY13 guidance) - Financials: Agile Property Holdings 3383.HK +2.5% (FY13 guidance); Road King Infrastructure 1098.HK +1.7% (2013 contracted sales); Poly Real Estate 600048.CN +2.5% (Dec contracted sales) - Technology: Shenzhen Changfang Light Emitting Diode Lighting 300301.CN +2.3% (awarded order); Sony 6758.JP +4.0% (CEO comments); Canon -2.0% (speculation on FY13 result) - Materials: Gansu Gangtai Holding Group 600687.CN +8.1% (FY13 guidance) - Healthcare: Guilin Layn Natural Ingredients 002166.CN +2.3%, Beijing Tiantan Biological Products 1.2%, Shenzhen Neptunus Bioengineering +2.1% (1 new case of H7N9) - Utilities: TEPCO 9501.JP -1.0% (Dutch pension fund sells stake; regulator may submit report on Fukushima)

Dish Pulling Its Bid for LightSquared Letter of Termination of Bid Expected to Be Disclosed as Soon as Thursday Dish Network Corp. is officially pulling its bid for LightSquared Inc., the telecommunications firm in bankruptcy that has wireless spectrum Dish has been coveting, according to people familiar with the matter. The reversal, after Dish last year put in a bid for $2.2 billion, marks the latest twist in the high-profile case, in which LightSquared has hit a number of speed bumps in its effort to emerge from bankruptcy. Dish is expected to disclose its letter of termination of the bid as soon as Thursday morning, one of the people said. Dish's plans have already met resistance from LightSquared lenders, who want to go forward with the Dish deal. On Tuesday, a lawyer for the lenders said in court he believes Dish has breached a contract by refusing to go through with the purchase of LightSquared's wireless spectrum. The lenders, who own nearly $2 billion in LightSquared bank debt, have proposed a restructuring plan based on Dish's bid. Rachel Strickland, a lawyer for Dish and its chairman, Charlie Ergen, said in court Tuesday she doesn't think Dish breached the contract. On Tuesday, the parties said in court Dish hadn't formally terminated the agreement to buy LightSquared's assets. Judge Shelley C. Chapman of U.S. Bankruptcy Court in Manhattan was to consider approving a reorganization plan for LightSquared based on the Dish bid later this week, as well as a plan to sell a smaller part of the spectrum to LightSquared creditors Mast Capital Management and U.S. Bancorp. Those proposals are competing with a separate one from LightSquared, which Judge Chapman is set to consider later this month. LightSquared has opposed the Dish bid and said that its $4 billion restructuring proposal—led by Fortress Investment Group LLC—is actually better than the Dish sale and smaller sale. Harbinger Capital Partners, started by financier Philip Falcone, is LightSquared's original backer. Spectrum refers to the limited pockets of airwaves that mobile phone and Internet companies use. Both the Dish and LightSquared plans would pay off the holders of more than $1.8 billion in LightSquared bank debt, a group that includes hedge funds and an investment entity wholly owned by Mr. Ergen. Meanwhile, as of Wednesday evening, one of the people familiar with the matter said, related litigation was expected to move ahead in court on Thursday though the situation remained fluid. That matter concerns accusations by LightSquared that the investment entity controlled by Dish's Mr. Ergen fraudulently purchased more than $1 billion in LightSquared debt. LightSquared has said the purchases violate a provision of its credit agreement prohibiting competitors from buying its debt. Mr. Ergen has said he bought the debt as an individual, and the investment vehicle isn't affiliated with Dish. A representative for Dish has called LightSquared's complaint "a desperate measure." Write to Emily Glazer at emily.glazer@wsj.com

After Hours Summary: MG +6.5%, GPN +5.1%, M +5.0%, CALX -10.9%, MATR -9.4%, BBBY -8.3%, ZUMZ -6.4% following earnings/guidance After Hours Gainers:

Companies trading higher in after hours in reaction to earnings: MG +6.5%, GPN +5.1%, M +5.0%, EHTH +2.3%, RT +0.5%

Companies trading higher in after hours in reaction to news: SQNM +10.6% (announced issuance of European patent for novel methods of detecting fetal aneuploidy), M +5.0% (co will lay off 2500 employees and close 5 stores; co also issued upside guidance for FY15), TGB +4.2% (announced 35% increase in annual copper production), AGU +2.8% (announces strategic review of Agrium Advanced Technologies: to transition to two Strategic Business units), ACT +2.8% (generic version of Micardis received FDA approval), JRN +1.3% (announced Journal Broadcast Group reached retransmission agreements with AT&T, Cable One, and Cox)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: CALX -10.9%, MATR -9.4%, BBBY -8.3%, ZUMZ -6.4%, VOXX -5.1%, EXFO -4.8%, QDEL -4.0%, ROVI -3.3%, WDFC -1.1%

Companies trading lower in after hours in reaction to news: AEZS -16.4% (announced proposed public offering of common shares and warrants), PLUG -12.8% (move attributed to cautious blog mention), EXFO -4.8% (renewed normal course issuer bid, co also reported earnings), BXMT -2.4% (announced public offering of 8.5 mln class A common stock), EGY -2.0% (provided operations update)