>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: GWRE +5.8%, AMSWA +5.6%, JCP +5.1%, LINE +0.8% (reiterates guidance for Q4 production of 840-860 MMcfe/d).

Select metals/mining stocks trading higher: RIO +1.6%, BBL +1%, MT +0.7%, BHP +0.4%, GOLD +0.4% (upgraded to Buy from Hold at Investec) .

Other news: PLUG +51.9% (reports business update for webcast; currently in negotiations with several large customers), CYTR +11.9% (following director insider buy), SAEX +9.1% (announces $40 million of new project awards), CCXI +7.6% (announces positive top-line CCX168 Phase II Data in ANCA-Associated Renal Vasculitis), MTL +6.5% (announces reaching agreement on covenant holidays on bilateral credit lines from VTB Bank), ADEP +6.1% (receives order for Mobile Robots from Pharmacy Automation System Provider), CTIC +5.8% (Cell Therapeutics and GKV-SV reach agreement on pricing of PIXUVRI in Germany ), ARCW +4.6% (continued strength), ICLD +3.8% (after yesterday's 30%+ move), FRO +2.9% (still checking), CAMT +2.2% (modestly rebounding), VJET +1.5% (continued momentum), NBL +1.4% (Announces New Exploration Discoveries In The Deepwater Gulf Of Mexico And Eastern Mediterranean), HPQ +1.1% (following positive MadMoney mention), MYGN +1% (ticking higher, reported that Prolaris score has been demonstrated to be a stronger predictor of prostate cancer recurrence and cancer-specific death than clinical parameters such as Gleason score and PSA), TEVA +0.7% (announces that 15 new projects have entered its development pipeline from its New Therapeutic Entities program), DDD +0.6% ( announced the immediate availability of two new VisiJet class performance plastics for its ProJet 5000 large-format 3D printer), LEN +0.5% (prevails in defamation and extortion case against Marsch; Jury awards $1 billion in damages), AMZN +0.2% (light volume, ComScore data reports Cyber Monday jumps 18% to $1.735 bln in desktop sales to rank as heaviest U.S. online spending day in history) .

Analyst comments: MGNX +5.3% ( initiated with an Outperform at Wedbush), WDC +1.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley due to stabilizing PC trends, continued cloud segment strength, and benign pricing), BRCD +1.2% (upgraded to Equal-Weight from Underweight at Morgan Stanley due to improved execution, cost savings, and valuation), BBT +0.9% (upgraded to Overweight from Equal-Weight at Morgan Stanley)

>>> US Early premarket gappers

Early premarket gappers

Gapping up: SAEX +9.1%, CCXI +7.6%, MTL +6.5%, PLUG +6.3%, ADEP +6.1%, CTIC +5.8%, GWRE +5.8%, AMSWA +5.6%, JCP +5.1%, ARCW +4.6%, FRO +2.9%, RIO +1.6%, HPQ +1.1%, MYGN +1%, BBL +1%, LINE +0.8%, TEVA +0.7%, MT +0.7%, DDD +0.6%, LEN +0.5%, BHP +0.4%

Gapping down: AMBI -22.7%, OVTI -13.1%, EXPR -8%, ACMP -4.8%, CLDX -4.2%, WAVX -3.8%, GFI -3.7%, AVG -3.5%, OAS -3.1%, SFUN -2.8%, CLVS -1.6%, DFRG -1.2%, SDRL -1.1%, TOT -1%, BP -0.8%, GBDC -0.8%, GLD -0.6%, SHLD -0.4%, EBAY -0.3%

(BFW) AT&T Cut at JPMorgan; Says Biggest Fear is Large European Deal

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AT&T Cut at JPMorgan; Says Biggest Fear is Large European Deal 2013-12-04 09:00:14.933 GMT

By Roger Neill Dec. 4 (Bloomberg) -- AT&T cut to neutral vs overweight at JPMorgan, PT $38. * Says potential M&A transactions could be distracting and dilutive: JPM * "Biggest fear’’ is a large European deal results in distraction and higher leverage on U.S. business, making likelihood of a misstep in U.S. due to ramping competition even higher: JPM * Sees little to no synergies of AT&T investing in Europe, would prefer co. target smaller growth-based initiatives rather than a “large foreign adventure:” JPM * AT&T’s subscriber growth likely to continue to lag industry: JPM * Growth initiatives unlikely to offset wireless slowdown in 2014: JPM * NOTE on Dec. 3: AT&T May Wait Until Vodafone’s ‘Project Spring’ 4G Plan Blossoms {NSN MX8HNB6JIJUX<Go>} * NOTE on Dec. 3: AT&T Could Justify a Vodafone Bid of 290p/Share, JPMorgan Says {NSN MX80ZR6JTSF3 <go>} * NOTE on Nov. 28: Vodafone Shares Vulnerable If AT&T Speculation Fades: Espirito {NSN MWYRF26JTSF2 <go>} Link to Company News:{VOD LN <Equity> CN <GO>} Link to Company News:{T US <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: Roger Neill in London at +44-20-7673-2867 or rneill3@bloomberg.net

To contact the editor responsible for this story: Brian Lysaght at +44-20-7330-7908 or blysaght@bloomberg.net

>>> STAN LN, -1.5% to 1409: statement, just hit the tape.

STAN LN, -1.5% to 1409: statement, just hit the tape.

Standard Chartered Sees FY Income ’Broadly Flat’

Standard Chartered says 2H impairment to be greater than 1H. - NOTE: Standard Chartered 2012 rev rose 8.2% - Analysts see 2013 rev rising 2.4% - 2013 rev. est. $19.52b (31 ests): Bloomberg data - NOTE: Stock down 10% YTD vs SX7P up 17%

(BFW) Vivendi’s SFR May Face Start of New Downgrade Cycle, UBS Says

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Vivendi’s SFR May Face Start of New Downgrade Cycle, UBS Says 2013-12-04 07:40:19.891 GMT

By Blanche Gatt Dec. 4 (Bloomberg) -- Vivendi’s SFR faces strong competition on 4G from Iliad, which offered its 4G service yday including unlimited voice/SMS/20GB of data for same price of existing 3G product, UBS says in note. * UBS says Iliad 4G service offered at 50%/60% discount to peers * Says EU20-EU30 premium charged by SFR, peers, for 4G vs 3G is unsustainable; they’ll probably include 4G in low- cost offers * While this may limit churn to Iliad, it may cause service rev. drop to accelerate given “cannibalisation” of SFR’s own high-end offers * Scenario “could get worse” if Iliad starts its own subsidized handset offers * Reiterates neutral, PT EU16; still “cautious” on SFR * NOTE Dec. 1: French Ministry to Discuss Network Sharing by SFR-Bouygues: JDD * NOTE Nov. 26: Vivendi May Distribute SFR Shrs To Own Holders in Demerger * Nov. 27: Vivendi De-Merger to Prompt Re-Rating, Offer 50% Upside: Liberum * Nov. 27: Vivendi Jumps on De-Merger Confirmation, Bollore Appointment

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--Editor: Jurjen van de Pol

To contact the reporter on this story: Blanche Gatt in London at +44-20-7392-0351 or bgatt@bloomberg.net

To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net