>>> Mondelez : Trian Fund disclose 6.2% active stake from 6.26% - 13D filing

Mondelez Int'l: Trian Fund Mgmt discloses 6.2% active stake in amended 13D filing out last night after the close; down from 6.26% reported on 11/18; Peltz will not re-run for Board
  • On March 31, 2014, Mr. Peltz advised the Issuer that due to other board commitments, including his recent appointment to the board of Mondel?z International (MDLZ), he has decided not to stand for re-election as a director of the Issuer at the Issuer's 2014 Annual General Meeting of Shareholders. (INSID)

>>> US Gapping down

Gapping down

In reaction to disappointing earnings/guidance: ARTX -19.6%, YOD -12.4%, CUI -9.1%, (light volume), ROSG -8.6%, KGJI -3%, (light volume), XON -1.1%.

Other news: USU -12.9% (still checking; may be attributed to Japan's Hokkaido Electric Power considering Government bailout), MDCO -9.2% (provides update on Angiomax patent litigation), BIOF -7.4% (modestly pulling back), MDR -4.1% (provides an operational update; files for mixed securities shelf offering; announces public offering of 10 mln tangible equity units, each with a stated value of $25), KNDI -4% (unfavorable commentary on Mad Money), CSIQ -3.1% (receives CAD50.5 mln in financing from Manulife ), DEO -1.3% (still checking), GSK -1.2% (planning to expand in Africa, according to reports out), UN -1% (still checking), QCRH -0.9% (announces redemption of $15 mln of small business lending fund preferred stock), ICLD -0.8% (filed to delay from 10-K), CAT-0.8% (exec to testify before U.S. Senate subcommittee regarding co's business structure), KIN -0.7% (announces launch of $50 mln public offering of common stock),' GALT -0.7% (First cohort results in Galectin Therapeutics' Phase 1 trial reveal biomarker evidence of therapeutic effect on fibrosis and inflammation in NASH with advanced fibrosis), MHR -0.7% (files for 4.3 mln share common stock offering by selling shareholders), GM -0.3% (General Motors recalls older model vehicles to fix power steering; expects to take a charge of up to ~$750 mln in the first quarter, primarily for the cost of recall-related repairs).

Analyst comments: INVN -5.8% (downgraded to Perform at Oppenheimer), CLI -2.1% (downgraded to Hold from Buy at KeyBanc), MX -1.7% (downgraded to Neutral at Chardan Capital Markets), BGC -0.8% (downgraded to Neutral from Buy at DA Davidson), POT -0.6% (downgraded to Hold from Buy at Cantor Fitzgerald)

>>> US Gapping up

Gapping up

In reaction to strong earnings/guidance: VRNT +5.3%, LJPC +2.6%, EGAS +1.4% (thinly traded), BGCP +0.9% (light volume).

M&A news: SWS +9.6% (SWS Group to be acquired by Hilltop; SWS hareholders will receive per share consideration of 0.2496 shares of Hilltop common stock and $1.94 of cash, equating to $7.88 per share based on Hilltop's closing price on March 31, 2014).

Financial related names showing strength: IRE +3.8%, ING +1.9%, NBG +1.8%, DB +1.7%, BBVA +1.7%, SAN +1.3%, LYG +0.9% (upgraded to Buy from Add at Numis), HSBC +0.3%.

Select metals/mining stocks trading higher: BHP+1.8% (noted recent speculation about the Group's portfolio; says 'We believe that a portfolio focused on our major iron ore, copper, coal and petroleum assets would retain the benefits of diversification, generate stronger growth in free cash flow and a superior return on investment'), KGC +1.4% (releases Tasiast expansion feasibility study), AA +1% (expands Brazil Rolling Mill to capture growing demand for specialty packaging in Latin America), RIO +0.7%, ABX +0.7%, GLD +0.2%.

Casino/gaming names showing strength boosted by Macau data: MPEL +9.2%, WYNN +2.6%, MGM +2.5%, LVS +1%.

Other news: CWTR +25% (modestly rebounding), STXS +15.3% (Stereotaxis submits 510(k) application to FDA for Vdrivewith V-Loop System), CLNE +10.7% (opens two America's Natural Gas Highway stations; signs multiple fueling agreements and commences sales of Redeem at new facility ), SQNS +10.3% (Sequans Wins Two Designs for New LTE Devices in the First Bid for China Telecom's Commercial Launch), SSN +8.3% (provides weekly update), AMRN +7.7% (Amarin and Kowa Pharmaceuticals America, Inc. announce U.S. Co-Promotion agreement for Vascepa (icosapent ethyl) Capsules), DRTX +5% ( FDA Advisory Committee votes 12-0 in favor of safety and effectiveness of dalbavancin for the treatment of acute bacterial skin and skin structure infections), YNDX +2.7% (still checking), ALU +2.6% and NOK +2.1% (still checking), NGLS +2.2% (provides update on financial outlook and announces new growth projects), AGYS +2.1% (sells majority of the United Kingdom Business and enters into multi-year EMEA market distribution agreement), NVDA +1.6% ( product marketing VP sees improved 2014, according to reports; upgraded to Mkt Outperform from Mkt Perform at JMP Securities ), HCLP +1.2% (announces entry into long-term contract with U.S. Well Services ), DEG +0.9% ( announces agreement on sale of Bosnian & Herzegovinian store), GILD +0.9% (Gilead Sciences's hepatitis C drug sales may reach $5 bln this year, according to reports), CLNE +0.7% (opens two America's Natural Gas Highway stations; signs multiple fueling agreements and commences sales of Redeem at new facility), FB +0.7% (still checking for anything specific), EC +0.5% (makes oil discovery at the Well Tibirita-1A), MRVL +2.3% (will be ordered to pay $1.54 bln for patent infringement, according to reports), PSEC +0.2% (LIGHT VOLUME; invests $279 million of first-lien senior secured debt and equity).

Analyst comments: CIDM +5.5% (initiated with an Overweight at Piper Jaffray), BPI +5.1% (upgraded to Outperform from Mkt Perform at BMO Capital Mkts), RBCN +3.6% (upgraded to Overweight from Neutral at JP Morgan), INFA +1.6% ( upgraded to Overweight from Equal Weight at Barclays), DDD +1.4% (initiated with a Neutral at UBS; tgt $62), JASO +1.3% (JA Solar initiated with an Outperform at Northland Securities), SSYS +1.1% (initiated with a Buy at UBS), UAL +0.8% ( upgraded to Buy from Neutral at UBS), PFSI +0.4% ( upgraded to Buy from Hold at Jefferies)

(BFW) Hilltop to Buy SWS for $7.88/Shr in Cash and Stock

BUS 04/01 11:00 Hilltop Holdings Inc. Announces Agreement to Acquire SWS Group, Inc.
 BN 04/01 11:01 *HILLTOP DEAL REFLECTS PREMIUM ABOUT 5% BASED ON LAST CLOSE
BFW 04/01 11:01 *HILLTOP HOLDINGS IN PACT TO BUY SWS GROUP
 BN 04/01 11:00 *SWS HOLDERS TO GET CONSIDERATION VALUED AT $7.88/SHR   :HTH US
 BN 04/01 11:00 *HILLTOP HOLDINGS TO PAY 0.2496 SHRS, $1.94 CASH
 BN 04/01 11:00 *SWS HOLDERS TO GET /SHR CONSIDERATION 0.2496 SHRS, $1.94 CASH
 BN 04/01 11:00 *HILLTOP HOLDINGS REPORTS PACT TO BUY SWS GROUP,
Hilltop to Buy SWS for $7.88/Shr in Cash and Stock
2014-04-01 11:03:37.257 GMT


By Andrew Cinko
     April 1 (Bloomberg) -- Hilltop to pay 0.2496 share of HTH
for each SWS shr plus $1.94 in cash.
  * Offer is 5.3% premium to yday’s close
  * Deal expected to close before end of 2014
  * NOTE: Feb. 18, SWS Group Confirms Unsolicited $8-Shr Offer
    From Esposito Global, {NSN N17MKV6S973F <go>}
Link to Statement:{NSN N3CMK0MEQTXK <GO>}
Link to Company News:{HTH US <Equity> CN <GO>}
Link to Company News:{SWS 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:
Andrew Cinko at +1-609-279-4533 or
cinko@bloomberg.net