TheChek News Flow

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SocGen, Credit Agricole to End Newedge Partnership: Figaro 2013-11-05 18:37:56.85 GMT

By Fabio Benedetti-Valentini Nov. 5 (Bloomberg) -- Societe Generale will become 100% owner of Newedge derivatives brokerage while Credit Agricole will increase its holding in asset-manager Amundi to 80% from about 75%, Le Figaro reported on its website today, without saying where it got the information. * Societe Generale to increase its holding in Newedge by swapping part of its stake in Amundi: Figaro * Credit Agricole and Societe Generale keep strategic partnership in asset management: Figaro * Societe Generale and Credit Agricole to announce assets swap on Nov. 7: Figaro * Societe Generale’s spokeswoman declined to comment when called by Bloomberg; Credit Agricole didn’t immediately return call seeking comment * EARLIER: Credit Agricole, SocGen Plan to End Joint Ventures, JDD Says

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

To contact the reporter on this story: Fabio Benedetti-Valentini in Paris at +33-1-5365-5095 or fabiobv@bloomberg.net

To contact the editors responsible for this story: Frank Connelly at +33-1-5365-5063 or fconnelly@bloomberg.net; Edward Evans at +44-20-3525-3190 or eevans3@bloomberg.net

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Swiss Private Banks Need to Double Assets to Survive, KPMG Says 2013-11-05 18:20:23.958 GMT

By Giles Broom and Louisa Fahy Nov. 5 (Bloomberg) -- About two-thirds of 39 banks surveyed expect survival to depend on two-fold increase in client assets, KPMG study shows. * Banks need to grow beyond a minimum 10 billion Swiss francs of managed assets to cope with more complex requirements from clients and regulators, KPMG says in e-mail * Most private bankers can expect pay to stagnate or decline as >40% of respondents forecast employee compensation to drop at least 15% by 2022: KPMG Full Story:NSN MVSXKO6K50ZV<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: Louisa Fahy in Washington at +1-202-624-1942 or lnesbitt@bloomberg.net

To contact the editor responsible for this story: Louisa Fahy at +1-202-624-1942 or lnesbitt@bloomberg.net

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Croda Willing to Consider Larger Acquisitions, CTO Layden Says 2013-11-05 17:26:08.757 GMT

By Andrew Noel and Jim Silver Nov. 5 (Bloomberg) -- Croda is poised to make technology acquisitions, is willing to spend GBP5m-GBP100m, vs previous max. of GBP50m, CTO Keith Layden says in capital markets day presentation. * Croda sees performance technology division with growth similar to consumer division, Layden says * Sipo venture to expand into consumer goods: Layden

Link to Company News:CRDA LN <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: Andrew Noel in London at +44-20-7673-2304 or anoel@bloomberg.net

To contact the editor responsible for this story: Jim Silver at +1-212-617-7342 or jsilver@bloomberg.net

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Orange Not Going Down Bouygues’s Discount Path as Shares Slump 2013-11-05 16:35:02.65 GMT

By Marie Mawad and Jim Silver Nov. 5 (Bloomberg) -- Orange, whose shares slumped today after Bouygues Telecom introduced a no-frills broadband Internet and phone offer in France, says it has no plans to change its pricing structure. * “We’re maintaining our high-end strategy because we’ve seen consumers are willing to pay more for faster speeds and new services,” Delphine Ernotte, head of France for Orange, says in phone interview * NOTE: Orange shares fell as much as 5.4% today after Bouygues Telecom introduced a 15.99-euro monthly rate for stripped-down broadband and telephone service packages * Orange will continue to compete for customers who want cheaper options with its Sosh brand, Ernotte says

Full story: NSN MVSTHC6K50Y7 <GO>

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Andrea Snyder

To contact the reporter on this story: Jim Silver in New York at +1-212-617-7342 or jsilver@bloomberg.net

To contact the editor responsible for this story: Andrea Snyder at +1-202-624-1831 or asnyder5@bloomberg.net

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BN 11/05 15:53 *CNBC'S KATE KELLY REPORTS SAC TO MANAGE INTERNAL CAPITAL BN 11/05 15:52 *SAC SENDS INTERNAL EMAIL SAYING WILL BECOME FAMILY OFFICE: CNBC

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*SAC SENDS INTERNAL EMAIL SAYING WILL BECOME FAMILY OFFICE: CNBC 2013-11-05 15:53:14.511 GMT

--ANDREW CINKO

-0- Nov/05/2013 15:53 GMT

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Rhoen Klinikum Says Local Court Suspends 90% Clause Procedure 2013-11-05 16:09:34.643 GMT

By Sheela Sharma Nov. 5 (Bloomberg) -- Rhoen Klinikum says Local Court of Schweinfurt decided on Oct. 30 to suspend procedure to register the deletion of the 90% clause. * Co. says is deciding whether to appeal * NOTE: Rhoen-Klinikum shareholders voted at June 12 AGM to abolish a 90% voting threshold for mergers and other decisions Statement

For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: James Ludden

To contact the reporter on this story: Sheela Sharma in London at +44-20-7392-0395 or ssharma145@bloomberg.net

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

The Mosaic Company CEO: There is a potential for consolidation of large potash companies in eastern Europe - conf call comments - Would be interested in purchasing North american potash assets assuming the price was right

Gapping down

In reaction to disappointing earnings/guidance: BSFT -18.5%, OWW -16.5%, PPO -13.4%, GST -10.3%, LF -10% (also downgraded to Neutral at Monness Crespi & Hardt), USU -8.5%, (light volume), MR -8.4%, MDR -8.4%, BPI -8%, (LI BDE -7.5%, (also downgraded to Neutral at DA Davidson), ANAD -7.4%, CRZO -4.7%, (announces public offering of 3.75 mln shares of common stock), THO -4.3%, HK -3.3%, ELNK -3.3%, (light volume), HW -2.9% (light volume), CF -2.1%, (light volume), APC -1.9%, (following late sell-off), GIMO -1.6%, (light volume), THC -1.6%, (light volume), IMMU -0.9%, MPEL -0.7%.

Select financial related names showing weakness: RBS -2.9%, BCS -2.9%, RBS -2.9% (downgraded to Underperform from Neutral at Exane BNP Paribas), CS -2.4%, IRE -2.4%, DB -2.3%, LYG -2.2%, SAN -2.1%, ING -1.5%, HBC -1.1%.

Select metals/mining stocks trading lower: GFI -2.9%, AU -1.4%, NEM -1.2%, CLF -1%.

Other news: IMGN -9.4% (Immunogen announces discontinuation of IMGN901 study in small-cell lung cancer; initiates Phase I testing of its EGFR-targeting ADC, IMGN289), ORAN -4.4% (still checking), EXLS -4% (discloses it received a notice of termination from The Travelers Indemnity Company; Travelers represented 9.6% of co's revs Q3 revs), FAST -3.6% (still checking), SID -3.4% (still checking), CSTM -2.7% (announces proposed secondary offering of 17.5 mln Class A ordinary shares by selling shareholders), ITMN -2.3% (announces offering of 6.5 mln shares of its common stock), EPD -2.3% ( announces commencement of a public offering of 7.5 mln common units representing limited partner interests in the partnership), PSB -2.3% (announces public offering of 1.3 mln shares of common stock), PSB -2.3% (prices public offering of 1.3 mln shares at $79.25 per share), RYAAY -1.9% (continued weakness), VNTV -1.5% (announces funds managed by Advent International have agreed to sell 15 mln shares of Vantiv's Class A common stock in secondary public offering), JCP -1.3% (still checking), EXR -1% (announces offering of 4.5 mln shares of common stock), RPRX -0.8% (receives FDA guidance for Proellex low dose oral uterine fibroid clinical program: FDA instructed co to submit a request for lifiting of the full clinical hold at the same time it submits a new protocol ).

Analyst comments: SI -1.8% (downgraded to Neutral from Buy at UBS), PSO -1.1% (downgraded to Neutral from Buy at Goldman), LINE -0.1% (downgraded to Neutral from Buy at Goldman)

Gapping up

In reaction to strong earnings/guidance: GTAT +23.5% (also announces agreement with AAPL that impacts 2H13 and 2014 Outlooks), ENDP +22.6%, FN +11.5%, (light volume), ACUR +9.8%, (also announces Distribution of Nexafed by Rite Aid Pharmacies), CSU +9.2%, ARCI +8.5%, ORIG +8%, COCO +6.5%, UVE +6.5%, AOL +5.4%, TMUS +5.2%, KERX +5% (also announces Zerenex (ferric citrate coordination complex) Meets All Primary and Key Secondary Endpoints in Phase 2 Study of Non-Dialysis Dependent Chronic Kidney Disease Patients With Elevated Serum Phosphorus and Iron Deficiency Anemia), HL +4.8%, CSOD +4.5%, CATM +3.5%, (light volume), HTZ +2.9%, CTSH +2.7%, JMBA +2%, (light volume), MRO +1.7%, RKT +1.4%, (light volume), BDX +1.4%, (light volume), CVS +1.3%, PKT +1%, REGN +0.9%, WFT +0.4%, (also names new Chief Financial Officer; appoints new Chief Operating Officer as current operating officer retires), .

Select mining stocks trading higher: BBL +1.9%, RIO +1.8%, BHP +1.5%, GOLD +1.2%.

A few solar names are trading higher: SUNE +4.9% (SunEdison upgraded to Overweight from Neutral at Piper), YGE +4.9%, RSOL +2.9%, TSL +2.3%, CSIQ +1.9%, SOL +1.6%

Other news: CYTX +45.9% ( licenses Asia-Pacific cardiovascular, renal & diabetes markets to Lorem Vascular for up to $531 mln; co to receive $31 mln upfront in equity and initial purchase commitments), ORBC +5.6% (Orbcomm and Inmarsat to form strategic alliance to collaborate on M2M opportunities ), PIP +4.4% (Theraclone Sciences' monocloncal antibody candidate PGT121 suppresses HIV in simian models of disease; Note: On August 1, 2013, Theraclone and PharmAthene announced a definitive merger agreement), LOCK +4% (following positive comments on MadMoney), ALU +3.6% (still checking), NUAN +3.2% (still checking), RBCN +3.2% (following GTAT earnings/news), P +2.5% (may be attributed to CTO comments, also JPM positive), NQ +2.2% (Bloomberg discusses that Muddy Waters may be correct on NQ payments issue, but cash accounting criticism may be incorect ), ECA +2% ( announces vision and strategy; co will focus its capital investment on five oil and liquids-rich resource plays in N. America ), LCC +1.1% (NYTimes discusses that the US is in discussions to settle suit related to AAMRQ/US Airways merger ), CBST +0.6% (Cubist Pharma modestly higher following exec interview on MadMoney), .

Analyst comments: SB +3.3% (Safe Bulkers upgraded to Buy from Neutral at Citigroup), BBRY +1.5% (upgraded to Hold from Sell at Societe Generale, upgraded to Hold from Sell at Deutsche Bank, downgraded to Sector Underperform from Sector Outperform at CIBC Wrld Mkts)

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BN 11/05 12:34 *TELEFONICA CZECH CEO CITES UNCLEAR POLITICS IN Q4 OUTLOOK BN 11/05 12:33 *TELEFONICA'S 4Q 2013 MAY NOT BE AS GOOD AS 4Q 2012, CEO SAYS BN 11/05 12:13 *TELEFONICA CZECH CEO MALVIDO COMMENTS IN CONF. CALL BN 11/05 12:12 *TELEFONICA CZECH CONFIRMS IT WILL TAKE PART IN CZECH LTE SALE

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*TELEFONICA’S 4Q 2013 MAY NOT BE AS GOOD AS 4Q 2012, CEO SAYS 2013-11-05 12:33:57.931 GMT

--GAURAV PANCHAL

-0- Nov/05/2013 12:33 GMT