(BFW) Iliad’s Niel Bought EU10M of Stock Dec 23

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BN 01/03 14:20 *ILIAD'S NIEL BOUGHT SHARES AT 146.59 EUROS APIECE BN 01/03 14:19 *ILIAD'S NIEL BOUGHT EU10M OF STOCK DEC 23 BN 01/03 14:19 *CORRECT: ILIAD'S NIEL BOUGHT STOCK DEC 23

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Iliad’s Niel Bought EU10M of Stock Dec 23 2014-01-03 14:22:43.57 GMT

By David Whitehouse Jan. 3 (Bloomberg) -- Founder Niel bought shares at 146.59 euros apiece, filing with France’s AMF markets regulator shows.

Link to Company News:{ILD FP <Equity> CN <GO>}

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To contact the editor responsible for this story: David Whitehouse at +33-1-5365-5059 or dwhitehouse1@bloomberg.net

(BFW) GE Cut to Perform at Oppenheimer; 2014-15 to Be ‘Transitional’

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GE Cut to Perform at Oppenheimer; 2014-15 to Be ‘Transitional’ 2014-01-03 13:24:24.241 GMT

By Libby Sallaberry Jan. 3 (Bloomberg) -- GE cut to perform vs outperform by Oppenheimer; analyst Christopher Glynn says 2014-2015 to be transitional period for earnings growth. * Shrs now reflect expected earnings shift to 70% industrial in 2015 * In 2015, N. America Retail Finance splitoff creates “lingering overhang” on EPS growth * GE has 13 buys, 10 holds; avg PT $29 * GE rose 34% in 2013 vs S&P 500 Industrials (S5INDU) up 38%, S&P up 30% * NOTE: Dec. 18, GE sees 4%-7% organic industrial rev. growth in 2014

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--With assistance from Clyde Eltzroth in New York. Editor: Joanna Ossinger

To contact the reporter on this story: Libby Sallaberry in New York at +1-212-617-8044 or lsallaberry@bloomberg.net

To contact the editor responsible for this story: Joanna Ossinger at +1-212-617-7789 or jossinger@bloomberg.net

FT : George Soros buys stake in Spanish construction group FCC

George Soros buys stake in Spanish construction group FCC
By Miles Johnson in Madrid
George Soros has bought a stake in Spain’s FCC, becoming the second prominent international investor after Microsoft co-founder Bill Gates to bet on the indebted construction company in less than three months.
Funds associated with Mr Soros, the hedge fund philanthropist famed for making billions through currency speculation, bought a 3.1 per cent stake in FCC from the company’s biggest shareholder and philanthropist Esther Koplowitz last week, several people familiar with the deal said.

    Ms Koplowitz, one of Spain’s wealthiest women, sold a 3.8 per cent stake in the company worth €72m through the Spanish broker Fidentis last month while retaining just over 50 per cent of its shares, FCC said in a stock market filing. The company declined to comment on the identity of the buyer.
    Normally any investment in a Spanish company worth more than 3 per cent of its available share capital must be declared, but the Soros investment in FCC was made in part through derivatives, meaning a declaration could be avoided.
    The collapse of Spain’s decade-long property boom forced some of its largest construction groups close to insolvency after years of aggressive debt-fuelled expansion. In recent months, however, as the Spanish economy has shown signs of stabilising, investors have begun to identify such companies as plays on the country’s recovery.
    Funds associated with Bill Gates took a 6 per cent stake in FCC in October worth €113.5m at the time, prompting a surge in the company’s share price as the market interpreted the move as a sign of rising confidence in the Spanish economy.
    FCC’s share price has risen 125.4 per cent in the past six months as it has taken steps to tackle its large debts by selling assets and increasingly focusing its business outside of its home market. FCC is aiming to sell €2.2bn of non-core assets as part of a drive to reduce net borrowings of €6.5bn, as of November of this year.
    The investments in FCC have coincided with a return of international capital into Spain after fears of a possible European bailout during the height of last years’ debt crisis have faded.
    As the government’s borrowing costs have fallen, Spanish shares have risen sharply, with the Ibex 35 index of the country’s leading companies up 15 per cent last year, and private equity groups buying assets in the nation.
    Juan Béjar Ochoa, vice-chairman and chief executive of FCC, said the company’s recent successful refinancing of the debt of its UK subsidiary showed that international lenders were confident of its ability to restructure its business.

    >>> US Gapping down

    Gapping down

    In reaction to disappointing earnings/guidance: RFIL -9.7%, LNDC -3.5%.

    Other news: GYRO -5.7% (Bulldog Investors liquidates activist stake - amended 13D filing yesterday in late trade), BIOD -5.4% (modestly pulling back), JMBA -3.6% (enters into a master franchise development agreement with Foodmark to develop 80 Jamba Juice stores across the Middle East region over the next ten years; downgraded to Neutral from Outperform at Wedbush), TMUS-2.9% (AT&T confirms it will Offer T-Mobile Customers Up To $450 Per Line To Switch), GRPN -1.3% (completes acquisition of Ticket Monster for $260 mln in cash and stock), SAP -1% (still checking), VOD -0.2% ( in discussions to purchase stake in Tata Teleservices, according to reports).

    Analyst comments: S -2.2% (downgraded to Sell at Stifel on valuation/skepticism of M&A prospects), SWIR -2.1% (downgraded to Equal Weight from Overweight at boutique firm), MU -1.7% (downgraded to Sector Perform at RBC Capital Mkts; tgt $19 ), JOY -1.5% (downgraded to Sell from Neutral at Goldman), EXC -1.4% ( downgraded to Sell from Neutral at Citigroup; downgraded to Underperform from Neutral at BofA/Merrill), FE -1.2% (downgraded to Sell from Neutral at Citigroup), ED -0.9% (downgraded to Neutral from Buy at Citigroup; target to $46 from $49 at Jefferies following New York PSC settlement ), GE -0.7% (downgraded to Perform from Outperform at Oppenheimer ; awarded $572.5 mln Navy contract), ETR -0.9% (downgraded to Sell from Neutral at Citigroup).

    >>> US Gapping up

    Gapping up

    In reaction to strong earnings/guidance: FEYE +24% (also announces acquisition of Mandiant; to issue 21.5 mln shares and options to purchase shares of stock and pay $106.5 mln of net cash), JRJC +10.7%, RECN +5.3%.

    M&A news: TSU +6.2% and TI +5.8% ( Telefonica is considering joint offer to takeover TSU and breakup Telecom Italia, according to reports ).

    Select financial related names showing modest strength: BAC +1%, DB +0.7%, JPM +0.3%, C +0.3%.

    Metals/mining stocks trading higher: CDE +1.6%, NEM +1.4%, SLV +1.1%, ABX +1%, BHP +0.8%, GLD +0.7%, GG +0.7%, GDX +0.5%, .

    FEYE peers showing strength: PANW +1%, FTNT +0.9%, CHKP +0.9%.

    A few oil/gas names higher: BP +1.1% (may face new judge in Lousiana appeals court, according to reports out intraday ), RDS.A +0.9% HAL +0.4%, CHK +0.4%,

    Other news: GGS +11.8% (announces the sale of a 20,000 channel recording system ), PLUG +9.4% (continued strength), EJ +4.3% (S.A.C. Capital Advisors 5.6% passive stake in 13G filing), ORMP +3.3% (continued momentum), BLDP +2.9% (continued strength), ARIA +1.9% (still checking), DDD +1.2% (is expanding its 3DPRINTING 2.0 initiative into the consumer space), GTAT +1.1% (positive mention on MadMoney), ONVO +1% (positive mention on MadMoney), TWTR +0.7% (still checking), TSLA +0.6% (still checking), FB +0.5% (will face lawsuit for scanning of private messages, according to reports originally out yesterday), .

    Analyst comments: FNSR +2.8% (upgraded to Strong Buy from Outperform at Raymond James), SIRI +1.7% (upgraded to Overweight from Equal Weight at Evercore), PEG +1.2% ( upgraded to Buy from Neutral at Citigroup), DTE +1.1% (upgraded to Buy from Neutral at Citigroup), YHOO +0.8% (target raised to $49 at Stifel -- Alibaba)

    >>> T-Mobile US AT&T Confirms Plan to offer subsidies to T-Mobile customers to s

    T-Mobile US AT&T Confirms Plan to offer subsidies to T-Mobile customers to switch to AT&T
    - Starting today, AT&T is offering T-Mobile customers the opportunity to upgrade their mobile lifestyle with value of up to $450 per line when they switch to AT&T and trade in an eligible smartphone. Beginning Jan. 3, under the limited-time offer, T-Mobile customers who switch to AT&T can trade-in their current smartphone for a promotion card of up to $250, which can be used toward AT&T products and services. Trade-in values will vary based on make, model and age of the smartphone, but many of the latest and most popular smartphones will qualify for a value of $250. T-Mobile customers can receive an additional $200 credit per line when they transfer their wireless service to AT&T and choose an AT&T NextSM plan, buy a device at full retail price or activate a device they currently own.