*MCKESSON OFFERS EU23/SHR FOR CELESIO (closed @23.655 yest)

*MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND *MCKESSON: OFFER PRICE OF €23 PER CELESIO SHR IN CASH *MCKESSON: CELESIO OFFER PRICE REPRESENTS 39% PREMIUM (vs 06/10/2013) *MCKESSON: TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS *MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE '14 *MCKESSON: OFFER AT EU120,798.32/CELESIO BOND FOR BONDS DUE '18

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BFW 12/05 07:20 *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE ’14 BN 12/05 07:19 *MCKESSON: TENDER OFFERS FOR CELESIO TO END JAN. 9 BN 12/05 07:19 *MCKESSON: OFFER AT EU120,798.32/CELESIO BOND FOR BONDS DUE '18 BN 12/05 07:18 *MCKESSON: CELESIO BONDS AT EU53,117.78 EACH FOR BOND DUE '14 BN 12/05 07:17 *MCKESSON: TENDER OFFERS FOR CELESIO BONDS AT EU53,117.78/BOND BFW 12/05 07:16 *MCKESSON OFFERS EU23/SHR FOR CELESIO BN 12/05 07:16 *MCKESSON SAYS CELESIO HOLDERS CAN TENDER SHRS UNTIL JAN. 9 BN 12/05 07:16 *MCKESSON: TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS BN 12/05 07:16 *MCKESSON ACCEPTANCE PERIOD WILL END ON JAN. 9 BN 12/05 07:15 *MCKESSON: CELESIO OFFER PRICE REPRESENTS 39% PREMIUM BN 12/05 07:15 *MCKESSON TENDER OFFERS FOR CELESIO’S OUTSTANDING CONV BONDS BN 12/05 07:15 *MCKESSON PARALLEL TENDER OFFERS FOR CELESIO’S CONV 2014 BONDS BN 12/05 07:15 *MCKESSON: OFFER PRICE OF €23 PER CELESIO SHR IN CASH BN 12/05 07:15 *MCKESSON OFFER PRICE OF €23 PER CELESIO SHR IN CASH. BN 12/05 07:15 *MCKESSON UNVEILS CELESIO OFFER AT €23 PER CELESIO SHR IN CASH. BN 12/05 07:15 *MCKESSON UNVEILS PUBLIC TAKEOVER OFFER FOR CELESIO BN 12/05 07:15 *MCKESSON LAUNCHES PUBLIC TAKEOVER OFFER FOR CELESIO

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McKesson Launches Public Takeover Offer for Celesio 2013-12-05 07:15:00.203 GMT

McKesson Launches Public Takeover Offer for Celesio

* Shareholders of Celesio AG (“Celesio”) can tender their shares from today until January 9, 2014. * Offer price of €23 per Celesio share in cash. * The offer price represents a premium of 39 percent to the volume weighted average share price of Celesio during the three-month period ended October 7, 2013, which was the last undisturbed trading day before news articles were published suggesting a transaction between McKesson Corporation (“McKesson”) and Celesio. * Parallel tender offers for Celesio’s convertible bonds due 2014 and convertible bonds due 2018 were simultaneously launched by McKesson.

Business Wire

SAN FRANCISCO & FRANKFURT, Germany -- December 5, 2013

McKesson Corporation (NYSE:MCK), a leading North American healthcare services and information technology company, announced today that McKesson has launched the voluntary public takeover offer for the outstanding shares of Celesio (“Takeover Offer”) and tender offers for the outstanding convertible bonds of Celesio (“Tender Offers”) through its indirect wholly-owned subsidiary Dragonfly GmbH & Co. KGaA, in connection with the announcement on October 24, 2013 of McKesson’s agreement to acquire Celesio.

The publication of the offer document for the Takeover Offer has been approved by the Bundesanstalt für Finanzdienstleistungsaufsicht and is now available on www.GlobalHealthcareLeader.com in German and in an English translation. Celesio shareholders can now accept the Takeover Offer and tender their shares in Celesio at the offer price of €23 per share. The acceptance period will end on January 9, 2014 at 24:00 (CET) / 18:00 (EST).

In parallel to the Takeover Offer, McKesson launched the Tender Offers for Celesio’s outstanding convertible bonds at a price corresponding to the value of the underlying shares implied by a €23 per share offer price, which equals €53,117.78 per bond for Celesio’s convertible bond due 2014 (principal amount of €50,000) and €120,798.32 per bond for Celesio’s convertible bond due 2018 (principal amount of €100,000). The acceptance period for the Tender Offers will also end on January 9, 2014 at 24:00 (CET) / 18:00 (EST). The offer document for the Tender Offers is also available on www.GlobalHealthcareLeader.com in German and in an English translation.

About McKesson Corporation

McKesson Corporation, currently ranked 14^th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com.

THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

The Takeover Offer and the Tender Offers will be subject to the full terms and conditions to be set out in the respective offer document.

Disclaimer

This press release is for information purposes only and does not constitute an invitation to make an offer to sell Celesio shares. This announcement does not constitute an offer to purchase Celesio shares and is not for the purposes of McKesson making any representations or entering into any other binding legal commitments.

The offers to purchase Celesio shares (“Takeover Offer”) and convertible bonds (“Tender Offers” and together with the Takeover Offer, the “Offers”) are solely made by the respective offer document published by Dragonfly GmbH & Co. KGaA (“Dragonfly”), an indirect wholly-owned subsidiary of McKesson Corporation (“McKesson”), on December 5, 2013 and is exclusively subject to such offer document’s terms and conditions. The terms and conditions contained in such offer document may differ from the general information described in this press release.

Investors and holders of the shares or convertible bonds of Celesio are strongly advised to read the relevant documents regarding the Takeover Offer and the Tender Offers because they contain important information. Investors and holders of the shares or convertible bonds of Celesio can obtain these documents at the website http://www.GlobalHealthcareLeader.com. The Tender Offers are not subject to the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, (“WpÜG”)) and have not been reviewed by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht (“BaFin”)).

Holders of the shares or convertible bonds of Celesio are strongly recommended to seek independent advice in order to reach an informed decision in respect of the content of the offer documents and with regard to the Takeover Offer or the Tender Offers.

The Offers are issued exclusively under the laws of the Federal Republic of Germany (“Germany”), the Takeover Offer especially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer, and certain applicable provisions of the securities laws of the United States of America (“United States”). The Offers will not be executed according to the provisions of jurisdictions (including the jurisdictions of Australia and Japan) other than those of the Germany and certain applicable provisions of securities laws of the United States. Thus, no other announcements, registrations, admissions or approvals of the Offers outside Germany have been or will be filed, arranged for or granted. The holders of the shares of or convertible bonds of Celesio cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than such provisions of Germany. Any contract that will be concluded on the basis of the Offers will be exclusively governed by the laws of Germany and will to be interpreted in accordance with such laws.

Neither McKesson nor any persons acting in concert with McKesson within the meaning of Section 2 para 5 of the WpÜG have authorized the publication, sending, distribution, or dissemination of this press release or any other document associated with the Offers by third parties outside Germany, the United States and Canada. Neither McKesson nor persons acting in concert with McKesson within the meaning of Section 2 para. 5 of the WpÜG are in any way responsible for the compliance of the publication, sending, distribution or dissemination of this press release or any other document associated with the Offers by a third party outside of Germany, the United States and Canada to any jurisdiction with legal provisions other than those of Germany, the United States and Canada.

The publication, sending, distribution or dissemination of this press release in certain jurisdictions other than Germany, the United States and Canada may be governed by laws of jurisdictions other than Germany, the United States and Canada in which the publication, sending, distribution or dissemination are subject to legal restrictions. Persons who are not resident in Germany, the United States or Canada or who are for other reasons subject to the laws of other jurisdictions should inform themselves of, and observe, the laws of such other jurisdictions.

This press release is not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction.

If you are a resident of the United States, please read the following:

The Offers are being made for the securities of a non-U.S. company and will be subject to the disclosure and procedural laws, standards and practices of jurisdictions other than the U.S., although the Offers are made in reliance on, and compliance with, Section 14(e) of the Exchange Act and Regulation 14E thereunder, as exempted thereunder by Rule 14d-1(c).

In accordance with the Offers, McKesson, Dragonfly, certain affiliated companies and their respective nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, Celesio shares or convertible bonds outside the Offers during the period in which the Offers remain open for acceptance. If such purchases or arrangements to purchase are made, they will be made outside the United States and will comply with applicable law, including the Exchange Act.

Contact:

McKesson Corporate Contacts: Investors and Financial Media: Erin Lampert, +1 415-983-8391 Erin.Lampert@McKesson.com or General and Business Media: Kris Fortner, +1 415-983-8352 Kris.Fortner@McKesson.com

-0- Dec/05/2013 07:15 GMT

(BFW) Siemens CEO Sees 2014 EPS Rising By At Least 15%, Expansion Says

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Siemens CEO Sees 2014 EPS Rising By At Least 15%, Expansion Says 2013-12-05 07:11:36.901 GMT

By Angeline Benoit Dec. 5 (Bloomberg) -- Siemens to return to growth next year, Expansion reports, citing interview with CEO Josef Kaeser.

Link to Newspaper Website:{http://www.expansion.com}

Link to Company News:{SIE GR <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: Angeline Benoit in Madrid at +34-91-700-9617 or abenoit4@bloomberg.net

To contact the editor responsible for this story: Angeline Benoit at +34-91-700-9617 or abenoit4@bloomberg.net

>>> Brokers Ups & Downs

>>> Up
*DRAX RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*VEDANTA RAISED TO SECTOR PERFORM AT RBC CAPITAL

>>> Down
*AKER SOLUTIONS CUT TO NEUTRAL VS BUY AT CITI
*ALKERMES CUT TO NEUTRAL VS BUY AT UBS
*CAT OIL CUT TO NEUTRAL VS BUY AT BOFAML
*DEUTSCHE WOHNEN CUT TO UNDERWEIGHT VS NEUTRAL AT HSBC
*ELISA CUT TO UNDERPERFORM VS NEUTRAL AT BOFAML
*SAINT-GOBAIN CUT TO NEUTRAL VS BUY AT BOFAML
*TALKTALK CUT TO HOLD FROM BUY AT JEFFERIES

>>> PT Changes


>>> Initiations
*DCC RATED NEW BUY AT UBS, PT 3,300P
*LEG IMMOBILIEN RATED NEW NEUTRAL AT HSBC, PT EU48

>>> Country Sector Stock Call

** Stocks :
*DRAX ADDED TO UBS’ MOST PREFERRED LIST
*EDF REMOVED FROM UBS’S MOST PREFERRED LIST

>>> What to look at today

US MArket closed near to the flat line after a volatile day...Selling pressure in Europe and better Eco data pushed investors to lock some profits...Volume : 756mil sh., just above average...VIX @ 14.70 +1.03%...GGP (not Facebook, as speculated) replaces Molex in SP500; GGP rises 3.5%,
Facebook falls 1.5% in extended session...Fed Beige Book: ‘Modest to Moderate’ Growth in Oct. to Mid-Nov...WSJ reported that China Mobile and Apple reached a final agreement on iPhone distribution before separate reports indicated talks are still ongoing with nothing definitive to announce....PBoC skips a Thursday money market operation for the first time in 3 weeks;
Also marks the biggest net drain of liquidity in 7 weeks (Daily Shibor fixings: O/N: 3.7030 % v 3.7235% prior (3rd consecutive decline); 1-week: 4.5580 % v 4.5770% prior (2nd consecutive decline)...Australia trade remains in deficit....Nikkei-1.5%...Shanghai -0.10%.

Eur$ 1.3625 S&P fut -0.10% European fut -0.30%

>>> Keep an eye on
- BANKS : Volcker Rule Won’t Allow Portfolio Hedging for Banks, Provision won’t allow banks to enter trades designed to protect against losses held in a broad portfolio of assets, Rule seeks to prevent banks from putting their own capital at risk in pursuit of trading profits. WSJ said
- AFX GY : Carl Zeiss FY Ebit, Sales Beat Ests; Sees 2015 Ebit Margin 15%
- ALRS RM : Alrosa 3Q Net Income Attributable Falls 5.2% to RU8.2B Y/y
- APPLUS : Carlyle Picks MS, UBS to Oversee IPO of Spain’s Applus+: Reuters
- ATLN VX : Actelion to Buy Back Up to 10m Shares or 8.31% Stake in 3 Years
- AZEM LN : Merck offers 403.5P/sh AZ ELECTRONIC MATERIALS, 53.48% Premium, value the company at £1.6b
- BDT GY : Bertelsmann Said Interested in Callcredit Buy: Sky Link
- BLT LN : BHP May Give New Capex, Output Outlook on Shale: JPM
- BNP FP : RABOBANK AGREES TO SELL BGZ TO BNP PARIBAS FOR ABOUT EU1 BLN
- DSY FP : Dassault Systemes to Buy 84% of Germany’s Realtime Technology
- DBK GY :Japan SESC Recommends Penalty Against Deutsche Securities
- EDF FP : EDF, Gazprom Are Candidates for E.ON’s Italy Assets: Les Echos
- FCC SM : Koplowitz Hiring Adviser to Sell FCC Stake, Expansion Says
- GE1 GY : Generali Deutschland Holding's minority shareholders approve squeeze-out by Assicurazioni Generali
- HPL GR : Hapag-Lloyd Confirms Talks With Chile CSAV on Combination
- ILD FP : French ministers asking questions about New 4G offer
- IMT LN : Imperial Tobacco Carve-Up May Lower Execution Risk, Nomura Says
- KER FP : Kering to Invest Hundreds of Million Euros in La Redoute: Figaro
- MONCLER : Moncler Says No Decision on Dividend Policy
- NOVOB DC : Novo Aims to Raise U.S. Market Share to Global Level: Borsen
- PVA SM : Pescanova Sells 50% Stake in Australian Unit for EU29.5m
- RNO FP : Dongfeng Motor, Renault 7.76b Yuan Venture Gets NDRC Approval
- REP SM : Repsol Delegation Travels to Argentina for YPF Talks: EFE Link
- R1T GY : Dassault Systemes to Buy 84% of Germany’s Realtime Technology
- SAA1V FH : John de Mol Proposes to Buy Sanoma’s Stake in SBS for EU373m: FD
- SOI FP : *SOITEC TO GET GOVT SUPPORT OF EU21.3M
- SW1 GY : Deutsche Boerse Says SHW AG to Be Included in SDAX
- UG FP : Peugeot-GM Purchasing Accord Prompts Supplier Protest: Les Echos
- VERSACE : Versace Stake’s Highest Bidder Is Italy’s FSI Fund: FT
- VIE FP : Veolia Plans to Sell Sade Water-Network Unit, Les Echos Says
- VOD LN : VODAFONE: VERIZON RECEIVED REQUIRED APPROVAL FROM THE U.S FCC
- VOLVB SS : China Becomes Volvo Cars’ Largest Market in November, DI Says
- MF FP : Wendel in Exclusive Talks to Sell Kerneos to Astorg; NAV Gains
- ZURN VX : Zurich Insurance Cuts ROE Target to 12%-14% From 16%

>>> Asian Update

Asian Market Update: PBoC slows liquidity injections again; Australia trade remains in deficit

***Observations/Insights*** - GGP (not Facebook, as speculated) replaces Molex in SP500; GGP rises 3.5%, Facebook falls 1.5% in extended session. - US financial press reported that China Mobile and Apple reached a final agreement on iPhone distribution before separate reports indicated talks are still ongoing with nothing definitive to announce. - Australia terms of trade were in deficit for the 4th consecutive month in October; Exports to China rose 5% m/m and exports of coal were up 6.8%, while iron ore exports were revised down by about 3% for the prior month and fell again 0.8% in October. - PBoC skips a Thursday money market operation for the first time in 3 weeks; Also marks the biggest net drain of liquidity in 7 weeks.

***Economic Data*** - (AU) AUSTRALIA OCT TRADE BALANCE (A$): -529M V -350ME (4th consecutive deficit) - (JP) Japan MoF sells ¥2.18T in 0.6% (0.6% prior) 10-yr notes; Avg yield: 0.648% v 0.605% prior; Bid to cover: 4.01x v 3.69x prior - (KR) SOUTH KOREA Q3 FINAL GDP Q/Q: 1.1% (2-year high) V 1.1% PRELIM; Y/Y: 3.3% V 3.3% PRELIM - (PH) PHILIPPINES NOV CPI M/M: 0.4% V 0.4%E; Y/Y: 3.3% V 3.5%E; CPI CORE Y/Y: 2.8% V 2.5% PRIOR - (TW) TAIWAN NOV CPI Y/Y: 0.7% V 1.0%E PRIOR; WPI Y/Y: -1.0% V -0.9%E PRIOR

***Fixed Income/Commodities/Currencies*** - (CN) PBoC won't conduct open market operations (OMO) in today's session; Drains net CNY47B this week v injected 17B prior (first net drain in three weeks, biggest drain in 7-weeks) - (CN) Daily Shibor fixings: O/N: 3.7030 % v 3.7235% prior (3rd consecutive decline); 1-week: 4.5580 % v 4.5770% prior (2nd consecutive decline) - GLD: SPDR Gold Trust ETF daily holdings fall 2.7 tonnes to 838.7 tonnes (lowest since Jan 2009)

- USD majors are rangebound in the Asian session despite the selloff in the US Treasury market on Wednesday following better than expected ADP jobs, with volatility subsiding going into the ECB/BOE policy decisions on Thursday and non-farm payrolls on Friday. EUR/USD traded some 15pips on both sides of the 1.36 handle, GBP/USD was listless around $1.6380, and USD/JPY was in a 30pip range around ¥102.20. AUD/USD sold off briefly following Australia trade data, falling below $0.9020 before a bounce back to $0.9040. AUD has been under overall pressure for the past 2 weeks, culminating with a brief test below the $0.90 figure in the US hours.

***Speakers/Political/In the Papers*** - (CN) China National Development and Reform Commission (NDRC): Looking to ease burden for smaller companies - Chinese press - (CN) Smog reported in Central and Eastern China for 3rd consecutive day - Chinese press - (CN) China Qinhuangdao coal price continues to rise to CNY590-600/t (highest level since early July)

- (JP) Japan govt expects stimulus to raise real GDP by 1ppt and create 250K jobs - financial press - (JP) Japan Coast Guard sighted 3 China vessles near disputed island territory (5th consecutive day) - Kyodo News - (JP) Moody's: Japanese corporates 2014 outlook stable; Moody's expects Japan's GDP to grow by 1%-2% in 2014, fuelled by structural reforms dubbed Abenomics. Economic optimism has led to higher corporate earnings and cash flows, which have in turn reduced financial leverage. - (JP) Japan to list nuclear power as important energy source - Japanese press - (JP) Housing industry execs said to be less pessimistic over the negative impact of rising sales tax than the last time consumption tax went up in 1997 - Nikkei

- (AU) Australia PM Abbott: South Korea and Australia have reached an agreement on free trade deal (FTA) - addressing parliament - (AU) Moody's: Australia non-financial corporate outlook stable in 2014; Expects 2014 GDP at 2.0-3.0%, 2015 GDP at 2.5-3.5%

- (PH) Philippines Central Bank: Inflation likely to rise in coming months due to the typhoon

- (ES) Moody's changes Outlook on Spain govt bond rating to Stable from Negative; Affirms Baa3 rating

***Equities*** Market Snapshot (as of 04:30 GMT): - Nikkei225 -0.4%, S&P/ASX -0.8%, Kospi -0.5%, Shanghai Composite -0.1%, Hang Seng -0.3%, Dec S&P500 flat at 1,791, Feb gold -0.8% at $1,237, Jan crude oil +0.2% at $96.42/brl

US markets: - KFY: Reports Q2 $0.38 v $0.34e, R$238.0M v $234Me; +4.4% afterhours - GGP: To enter S&P500 index; effective Dec 9th close; +3.6% afterhours - NUAN: Investor Icahn raises stake to 18.72% - filing; +2.1% afterhours - VRNT: Reports Q3 $0.80 v $0.65e, R$224.3M v $224Me; +1.6% afterhours - ENB: Guides initial FY14 C$1.84-2.04 v C$1.91e; Raises quarterly dividend 11% to $0.35/shr from $0.315/shr; +0.9% afterhours - DIS: Increases annual cash dividend 15% to $0.86 from $0.75; +0.5% afterhours - GES: Reports Q3 $0.42 v $0.39e, R$613.5M v $617Me; +0.3% afterhours

- SNPS: Reports Q4 $0.56 v $0.55e, R$504.9M v $507Me; -4.1% afterhours - ARO: Reports Q3 -$0.29 (adj) v -$0.25e, R$514.6M v $516Me; -6.0% afterhours - WTSL: Reports Q3 -$0.12 (adj) v -$0.12e, R$127.7M v $134Me; -15.7% afterhours

Notable movers by sector: - Consumer discretionary: Fairfax Media Ltd FXJ.AU +5.8% (to sell Stayz); China Weaving Materials Holdings Ltd 3778.HK +50.6% (FY13 guidance); Qantas Airways Ltd QAN.AU -11.4% (H1 guidance); China Huiyuan Juice Group 1886.HK -0.7% (share issuance) - Industrials: Nufarm Ltd NUF.AU -6.5% (H1 guidance); Samsung Engineering Co Ltd 028050.KR +1.9% (awarded order); CPI Yuanda 600292.CN +2.9%, Fujian Longking 600388.CN +3.0%, Beijing SPC Environmental 002573.CN +2.4%, Kelin Environmental 002499.CN +7.6% (smog reported in China for 3rd consecutive days) - Financials: Westfield Group WDC.AU -2.0% (buys WTC retail facilities) - Healthcare: Daiichi Sankyo Co Ltd 4568.JP -2.3% (product halt) - Telecom: China Telecom 941.HK +0.8% (speculate Apple agreement)

>>> US After Hours

After Hours Summary: MFRM +12.3%, KFY +4.4%, MVNR +4.1%, WTSL -15.7%, EXA -4.3%, SNPS -4.3%, ARO -3.9% following earnings/guidance After Hours Gainers: Companies trading higher in after hours in reaction to earnings: MFRM +12.3%,KFY +4.4%, MVNR +4.1%, ENB +1.2%, NWY +1.2%, VRNT +0.8%

Companies trading higher in after hours in reaction to news: PBYI +19.0% (reported positive top line data from I-SPY 2 TRIAL; neratinib graduates from I-SPY 2 TRIAL), GGP +5.1% (to replace MOLX in the S&P 500), EQIX +1.9% (announced $500 mln share repurchase program), NUAN +1.7% (Carl Icahn increases stake in Nuance to 18.72% from $16.9%), CLMS +1.5% (announced Nick Calamos is leaving the Calamos Board of Directors; John P. Calamos, Sr., Chief Executive Officer and Global Co-Chief Investment Officer of Calamos Investments, announced his intention to form Calamos Partners), ENB +1.2% (increases dividend by 11%), SUNE +1.1% (co and Mayor Bloomberg introduce New York City's largest solar energy project)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: WTSL -15.7%, EXA -4.3%, SNPS -4.3%, ARO -3.9%, MDXG -3.9%, EMKR -3.6%, AVGO -1.7%, GES -0.4%

Companies trading lower in after hours in reaction to news: FLML -5.1% (announced $15 mln line of credit), LGP -5.0% (commenced public offering of 3.1 mln common units representing limited partner interests in the Partnership), MDXG -3.9% (announced next steps after discussions with FDA - will pursue IND and BLA process for certain micronized products), SWY -2.4% (Jana Partners lowers stake to 4.1% - amended 13D filing; down from 6.2% previously reported on 9/17), FB -1.7% (not added to the S&P 500, as had been rumored), ARCP -1.7% (launched a reopening of $150 mln of its 3.00% convertible senior notes due 2018 and an offering of $225 mln of its convertible senior notes due 2020)

>>> US Close Dow-0,16% S&P-0,13% Nasdaq+0,02%

Closing Market Summary: Stocks End Little Changed Following Roller Coaster Ride The S&P 500 shed 0.1%, registering its fourth consecutive decline. Today's session proved to be a bit of a roller coaster ride for stocks as the S&P 500 opened in the red, rallied into positive territory, fell to fresh lows, and regained the bulk of its losses into the close.

For the second day in a row, the early weakness coincided with heavy selling in Europe. In addition, bonds and risk assets were pressured by a better-than-expected ADP Employment report, which indicated employment in the nonfarm private business sector rose by 215K in November (160K consensus). The report increased expectations for a strong nonfarm payrolls report on Friday, and re-invited speculation about the Fed's tapering timeline. Treasuries sold off following the data, sending the 10-yr yield higher by five basis points to 2.83%. The opening losses were followed by a swift reversal after below-consensus ISM Services (53.9 actual versus 55.0 expected) for November and a ho-hum composite home sales report for September (354K actual versus 432K consensus) and October (444K actual versus 420K expected) raised some doubts about the sustainability of the economic improvement. This calmed some of the tapering fears, and helped the major indices regain their flat lines. Contributing to the rebound, were rumors suggesting Democrats and Republicans reached a budget agreement. The budget deal rumors faded shortly thereafter while equity indices responded with a fade of their own. The S&P 500 tumbled to fresh lows, but was able to springboard off the 1,779 level and rally back to its flat line.

In large part, the late-afternoon rebound was powered by three sectors—financials (+0.2%), technology (+0.2%), and materials (+0.5%)—that outperformed throughout the session. Outside of the three, only the utilities sector (+0.2%) finished with a gain. Notably, the materials sector received all-around support from most of its components. Steelmakers and miners outperformed as the Market Vectors Steel ETF (SLX 47.99, +0.39) gained 0.8% and Market Vectors Gold Miners ETF (GDX 21.22, +0.65) jumped 3.2%. On a related note, gold futures spiked 2.0% to $1244.60 per troy ounce. The other commodity-linked sector, energy (-0.4%), ended among the laggards while crude oil added 1.2% to $97.19 per barrel. Today's trading volume was just above average as more than 756 million shares changed hands on the floor of the New York Stock Exchange.

Looking at today's remaining economic data, the October trade deficit fell to $40.6 billion from an upwardly revised $43.0 billion. In large part, the decline was due to significant gains in sales of artwork (+$0.50 billion), gem diamonds (+$0.40 billion), and jewelry (+$0.40 billion). The consensus expected the trade deficit to fall to $40.5 billion. Separately, the weekly MBA Mortgage Index tumbled 12.8% to follow last week's downtick of 0.3%. Tomorrow, November Challenger Job Cuts will be reported at 7:30 ET while weekly initial claims and the second estimate of third quarter GDP will be released at 8:30 ET. The day's data will be topped off with the 10:00 ET release of October Factory Orders.

o Nasdaq +33.7% YTD o Russell 2000 +32.0% YTD o S&P 500 +25.7% YTD o DJIA +21.3 YTD