>>> Autonavi Enters agreement to be acquired by Alibaba at $5.25/shr in cash ($2

Autonavi Enters agreement to be acquired by Alibaba at $5.25/shr in cash ($21/ADS); deal valued at $1.5B
- Will receive US$5.25 in cash per ordinary share (a "Share") or US$21.00 in cash per American depositary share of the Company. The price represents a premium of 27.0% over the Company's closing price of US$16.54 per ADS on February 7, 2014, the last trading day prior to February 10, 2014, the date that the Company announced it had received a "going private" proposal from Alibaba, and a premium of 38.5% and 39.8% to the volume-weighted average price of the Company's ADSs during the 30 and 60 trading days prior to February 10, 2014, respectively. 
- The transaction expected to close in the third quarter of 2014 
- AutoNavi's board of directors (the "Board"), acting on the unanimous recommendation of an independent committee of the Board (the "Independent Committee"), which was assisted by its independent financial advisor and legal counsel, approved the merger agreement and the transaction and recommends that the Company's shareholders vote to authorize and approve the merger agreement and the transaction. 
- Alibaba beneficially owns 78,428,700 shares in AutoNavi (representing 28.2% of the total outstanding shares of the Company as of March 31, 2014) in the form of ordinary shares and series A convertible preferred shares, and has entered into a voting agreement with certain AutoNavi shareholders under which they will vote up to approximately an additional 26.2% of the total outstanding shares of the Company as of March 31, 2014) in favor of the transaction. If completed, the transaction will result in the Company becoming a wholly-owned subsidiary of Alibaba, and its ADSs will no longer be listed on Nasdaq.

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance/SSS: DWCH -30%, NQ -13.7%, AVD -10.5%, GPS -4% (also downgraded to Neutral from Buy at Janney), TTMI -3.8%, JPM -3.7%.

Select financial related names showing weakness following weakness overseas and JPM results: NBG -3.9%, GS -1.5%, C -1.5%, UBS -1.2%, ING -1.2%, LYG -1.2%.

Select solar stocks trading lower: YGE -3.6% (sees Q1 shipments below prior guidance), CSIQ -2.6%, SPWR -2.1%, TSL -2.3%, SUNE -2%, JKS -1.6%.

Other news: NTN -27.4% (announces proposed public offering of common stock, size not disclosed), CWTR -15.8% (commences voluntary Chapter 11 proceeding to facilitate orderly wind-down of operations), RGDO -14.2% ( prices public offering of 10 mln shares of its common stock at $6.00 per share), VJET -10.2% (following 13% drop yesterday), CTSH -4.8% (still checking), GLOG-3.5% (announced that it plans to offer ~4.25 mln of its common shares to the public; announces agreement to purchase an additional three LNG carriers from BG Group for ~ $468 mln), ARMH -2.8% (weakness in overseas trading), ALU -1.8% (still checking for anything specific), IRBT -1.7% (disclosed Amendment and Termination of Shareholder Rights Agreement; rights to purchase Series A-1 Junior Participating Cumulative Preferred Stock are now expired ), AJG -1.5% (prices 19 mln shares of its common stock at a price of $43.25), NOK -1.2% (still checking), TSLA -1% (following yesterday's 13 point drop; plans Chna charging network, according to reports), SCHW -0.6% (announces interim business update will be held via webcast on April 24), LNKD -0.5% (will tell subs about jobs at their own cos, according to reports).

Analyst comments: APOG -3.9% (removed from Conv Buy list at Goldman), SDRL -2.6% (downgraded to Neutral from Outperform at Credit Suisse ), ASML -1.9% (initiated with a Cautious at ISI), GLW -1% (downgraded to Neutral from Buy at UBS), SYMC -1% ( downgraded to Equal Weight from Overweight at Barclays), FSL -0.7% (initiated with a Cautious at ISI), BBBY -0.3% (downgraded to Neutral from Buy at Citigroup), ABB -0.2% ( downgraded to Neutral at Robert W. Baird; tgt lowered to $28)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: APP +6.1% (reports total net sales for March 2014 were flat year/year; comparable sales decreased 5% and wholesale net sales increased 11%; sees Q4 revs of 137.8 mln vs $136.12 mln single analyst estimate), CERE +5.3% (light volume), FAST +2.9%, WFC +1.6%.

Select metals/mining stocks trading higher: GOLD +0.7%, GDX +0.7%, AG +0.5%, GG +0.5%, GLD +0.4%, NEM +0.4%.

Other news: HRB +6.8% (reaches definitive agreement to divest its bank; expected to dilute H&R Block earnings by ~ $0.07 to $0.09 per share annually beginning in fiscal 2015), BOFI +6.1% (BofI Holding unit BofI Federal Bank agrees to provide banking products to H&R Block clients), ONCY +5.8% (ticking higher, collaborators present translational brain cancer clinical data and immunomodulatory preclinical research at UK Oncolytic Virus Conference; covered early clinical research showing that intravenously delivered REOLYSIN can cross the blood brain barrier to access tumours in the brains of humans), NEPT +4.6% (Haywood disclosed 9.9% stake in 13D; says ' Company should implement changes to the Board of Directors and management', ZNGA +2.2% (names David Lee as Chief Financial Officer and Chief Accounting Officer), INFY +1.4% (Board of Directors commences search for Mr. S.D. Shibulal's Successor), DIS +1.3% ( Maker Studios founders have failed a lawsuit to prevent DIS takeover, according to reports ), VISN +1.2% (announces strategic partnership with China Unicom), GTAT +1.2% (following positive MadMoney mention),WTT +0.8% (repurchased 4,815,110 shares of its common stock, representing ~ 20% of its total shares outstanding (prior to the repurchase), from its largest shareholder, Investcorp Technology Ventures and its affiliates, for an aggregate purchase price of ~ $9.6 mln, or $2.00 per share), GILD +0.8% ( Sovaldi demonstrates efficacy and safety among chronic Hepatitis C patients with advanced liver disease), WCG +0.7% (following late spike on blog suggesting M&A), DNDN +0.7% (immune responses enhanced and sustained when PROVENGE is given after androgen deprivation therapy in biochemically-recurrent prostate cancer), KIM +0.4% (acquires balance of KIF I Portfolio for $408 mln), ABBV +0.1% ( presents detailed Phase III results from SAPPHIRE-I and SAPPHIRE-II studies in chronic hepatitis C patients).

Analyst comments: PNW +2.5% (upgraded to Buy from Hold at Argus), SFLY +2.2% (upgraded to Buy from Neutral at Goldman; tgt raised to $52 from $47 ), IMPV +2.1% (upgraded to Buy from Neutral at Sterne Agee ), F +1% (upgraded to Buy from Hold at Deutsche Bank), AMTD +0.8% (upgraded to Overweight from Equal Weight at Barclays), CSX +0.5% (initiated with an Outperform at Macquarie), TM +0.4% (Toyota upgraded to Buy from Hold at Jefferies)