(BN) *GM SELLS ENTIRE 7% STAKE IN PSA PEUGEOT CITROEN

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

BN 12/12 16:58 *GM SAYS ALLIANCE WITH PSA CONTINUES BN 12/12 16:57 *GM SELLING STAKE VIA PVT PLACEMENT TO INSTITUTIONAL INVESTORS BFW 12/12 16:57 *GM SELLS ENTIRE 7% STAKE IN PSA PEUGEOT CITROEN BN 12/12 16:56 *GM REPORTS SALE OF PSA EQUITY STAKE

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

*GM SELLS ENTIRE 7% STAKE IN PSA PEUGEOT CITROEN 2013-12-12 16:56:57.460 GMT

--MOLLY KISSLER

-0- Dec/12/2013 16:56 GMT

>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: NDSN +1.7%, MW +1.5%.

M&A news: UNS +29.7% (to be acquired by Fortis Utility Group for $60.25/share in cash).

Other news: GNVC +14.9% (discloses it expects an IND will be filed for CGF166 in January 2014), VASC +9.5% (receives shonin approvals to launch GuideLiner Catheter and SuperCross FT Microcatheter in Japan), PRTA +7.7% (Roche and Prothena enter into worldwide collaboration to co-develop and co-promote antibodies for treatment of Parkinson's Disease), ERJ +4.7% (American Airlines signs agreements with Bombardier and Embraer S.A. (ERJ) to purchase 90 new 76-seat regional jets), TCS +4.5% (still checking), FB +3.9% ( FB to replace WMB in the S&P 100; FB to replace TER in the S&P 500), LOGI +3.7% (still checking), ADS +2.6% ( S&P MidCap 400 constituents ADS and MHK to replace ANF and JDSU in the S&P 500; S&P SmallCap 600 constituents ODFL and BC to replace ACI and RGS in the S&P MidCap 400), FRO +2.5% (still checking), MHK +2.4% ( S&P MidCap 400 constituents ADS and MHK to replace ANF and JDSU in the S&P 500), KS +2.3% (announced two-for-one stock split), XLS +1.8% (announced plan to spin off a new publicly traded military and government services company; to supply composite components for Boeing (BA) 787 Dreamliner), GERN +1.3% (favorable mention on Mad Money), BSX +1.1% ( FDA Advisory Panel Votes favorably on the Boston Scientific WATCHMAN Left Atrial Appendage Closure Device ), CLNE +1.1% (customers ordered 70% more natural gas vehicles through the third quarter of 2013 as compared to the same period in 2012), NOK +0.9% (favorable mention on Mad Money), ANSS +0.8% (receives formal notice from the Joint Committee on Taxation that finalizes FY 2009 and 2010 tax return refund claims; co's Q4 EPS will be favorably impacted by ~ $11 mln, or $0.11 - $0.12 per share (), VLRS +0.8% ( reports Nov booked passenger rose 19% YoY ), TSPT +0.6% (announces that ISS proxy advisory services recommends 'AGAINST' all proposals).

Analyst comments: LUV +0.9% ( upgraded to Buy from Neutral at BofA/Merrill; tgt raised to $23), JCI +0.6% (upgraded to Overweight from Equal Weight at Barclays), IRBT +0.5% (iRobot upgraded to Neutral from Underweight at JPMorgan), XOM +0.4% (upgraded to Buy from Neutral at ISI Group), INTC +0.2% (upgraded to Neutral from Reduce at Nomura)

>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: SIGM -17.8%, (downgraded to Hold from Buy at Needham), ATHN -12.9%, CWTR -10.7%, SUNE -10.1%, (announces intention to refinance its capital structure), LULU -9%, VRA -7.7%, SGU -7.4%, CIEN -7.2%, ASYS -3.6%, AET -0.5%.

Select metals/mining stocks trading lower: GFI -3.6%, AG -3.5%, VGZ -2.9% (agrees to convert its interest in Awak Mas Gold Project into royalty), AU -2.9%, SLW -2.3% GG -1.9%, AUY -1.8%, GOLD -1.8%, KGC -1.7%, ABX -1.6%, BBL -0.5%, .

Other news: IMUC -54% (reports Phase II study demonstrates that glioblastoma patients live longer without disease progression when treated with ICT-107; primary endpoint of overall survival not statistically significant), SPPR -15% (announces suspension of dividends on its preferred stock), SYN -11.8% (prices 11.5 mln shares of common stock at $1.00), NWBO -8.9% (weakness attributed to IMUC news), TAM -5.2% (announces pricing of secondary offering of 10 mln shares of common stock at $20 per share), IAG -4.7% (suspends dividend), CSTM -4.6% (prices secondary offering of 8,345,713 shares of common stock at $19.80 per share by selling shareholders), NRF -4.3% (announces public offering of 50 mln shares of common stock), BNNY -4.2% (still checking), GWW -3.6% (reported Nov update), HRG -3% (files for 105,163,238 share common stock offering by selling shareholders), AES -2.2% (announces secondary offering of 40 mln shares of common stock by a subsidiary of CIC and concurrent repurchase of 20 mln shares of AES common stock), RBS -2.2% (still checking), SALE -2% (announced its follow-on offering of 6,267,137 shares of its Series 1 common stock at a price to the public of $26 per share), PF -0.9% (prices secondary offering of 17 mln shares of common stock at $26.75 per share), AWAY -0.9% (prices 6,018,630 shares of common stock at $37.00 by co and selling shareholder (~518K shares)), AMID -0.8% (prices offering of 2.4 mln common units at $22.47), ANF -0.8% (S&P MidCap 400 constituents ADS and MHK to replace ANF and JDSU in the S&P 500), MFA -0.4% (MFA Mortgage increased share repurchase program by 6 mln shares of common stock; declared quarterly cash dividend of $0.20/share, down from $0.22/share), SEAS -0.3% (prices 18 mln share secondary offering by selling shareholders at $30.00 per share), CSIQ -0.3% (announces 100MW module supply agreement with Zhenfa New Energy in China), CVX -0.2% (announces $39.8 bln capital and exploratory budget for 2014), TSPT 0.6% (announces that ISS proxy advisory services recommends 'AGAINST' all proposals), .

Analyst comments: ORCL -2.2% (downgraded to Sector Perform at RBC Capital Mkts; downgraded to Equal-Weight from Overweight at Morgan Stanley), SNDK -1% (downgraded to Reduce from Neutral at Nomura). MRO -0.8% (downgraded to Neutral from Buy at Citigroup), TXN -0.5% (downgraded to Reduce from Neutral at Nomura), SNI -0.3% (downgraded to Sector Perform at RBC Capital Mkts)

(BFW) Danaher 2014 EPS View Below Est.

Danaher 2014 EPS View Below Est.
2013-12-12 11:02:11.681 GMT


By Joanna Ossinger
     Dec. 12 (Bloomberg) -- Danaher sees 2014 EPS $3.60-$3.75,
est. $3.80; view assumes core rev. growth 2%-4%.
Statement: ore rev. growth 2%-4%.

Link to Company News:{DHR US <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:
Joanna Ossinger at +1-212-617-7789 or
jossinger@bloomberg.net

>>> IATA raises 2013 and 2014 forecasts for global airline industry profitabilit

IATA raises 2013 and 2014 forecasts for global airline industry profitability
- Raises 2013 industry profits forecast by 10% to $12.9B 
- Raises 2014 industry profits forecast by 20% to $19.7B 
- Cites lower oil prices, more efficiency measures and non-fare Rev. 

**Note: In late Sept, IATA cut the 2013 industry profit forecast to $11.7B from $12.7B on weaker Asia growth, slowdown in freight shipments and rise in oil prices due to Syria.

FT : Regulators warn on insurance accounting

Regulators warn on insurance accounting

Insurers’ accounting practices are so opaque there is a danger their financial disclosures are failing to show the damage done by persistently low interest rates, top European regulators have warned.
Supervisors have raised fresh concerns about insurers’ bookkeeping across much of the continent, as a 15-year effort to reform the sector’s accounting rules remains held back by disagreements between the industry and watchdogs.

“There is a real risk that firms could build up hidden problems,” said the European Insurance and Occupational Pensions Authority on Thursday in a report on financial stability.
The warning came as industry-wide figures stressed the difficulties low interest rates are causing insurance companies. The problems are especially acute for life assurers that need to generate investment returns to meet promises made to policyholders.
EIOPA disclosed that investment returns for typical European life assurers – whose portfolios are dominated by conservative fixed income assets – have dropped more than two-fifths over the past year, to 2.8 per cent.
This means some companies in the sector are earning less from their investment portfolios than the returns – of as much as 4 per cent a year – they have guaranteed policyholders.
The problems associated with low interest rates may be slow to emerge on insurers’ books, however, EIOPA said.
In most jurisdictions insurance liabilities are valued using discount rates calculated at the time policies were written, rather than reflecting prevailing market conditions.
“The fact that the effects of low interest rates are slow to emerge in balance sheet terms does not mean the problem is not there,” EIOPA said. “The low interest yield environment is still the most prominent risk” for the sector, it added.
Leading accountants have estimated the bookkeeping shortcomings could mean insurance companies’ disclosures may underestimate their liabilities by billions of euros, but that the effect is difficult – if not impossible – to quantify.
EIOPA added that the levels of capital held by insurers under the so-called Solvency I regulatory requirements, which are being phased out, were “dropping” but nevertheless remained “very healthy”.
Even so, the authority – which is planning to conduct stress tests of European insurers next year – indicated that if calculated using the forthcoming Solvency II regulations, the companies’ financial positions may not appear to be so strong.
The International Accounting Standards Board has been trying for years to make insurers’ accounts more comprehensible to investors and in June drew up a fresh set of proposals to satisfy the industry.
Since then insurers have told the regulators they are broadly supportive of the principle that their accounts should reflect market conditions. But they remain concerned about how the plans will work in practice and worry the proposals will make their profitability appear artificially volatile.
The IASB is considering their responses to a consultation it held in recent months.
The reforms are unlikely to be introduced before 2018.