Early premarket gappers
Gapping up: FRO +10%, MACK +9.1%, CTIC +5.7%, ARIA +5.4%, ALU +4.4%, ACHN +4%, CIE +3.5%, HSOL +3.4%, DNDN +3.4%, AMZN +3.2%, MT +1.9%, AMRN +1.6%, JKS +1.4%, DOW +1.1%, DDD +1.1%
Gapping down: ECOL -5.9%, FREE -4.9%, ZOOM -4%, IRE -2.8%, VIV -2.1%, AEM -2%, JCP -1.9%, GDX -1.9%, SLV -1.8%, GG -1.6%, GOLD -1.5%, AUY -1.5%, GLD -1.4%, AU -1.3%, NEM -1.3%, ABX -1.2%, UL -1.2%, SCTY -0.9%, BUD -0.9%, HPQ -0.5%
Shire Plc Enters Into agreement to supply Adderall XR Authorized Generic in the US - Shire US Inc. has entered into an agreement to supply an authorized generic version of its product Adderall XR. Under the agreement, Sandoz Inc. will market an authorized generic version of Adderall XRbeginning July 1, 2016. From the December 1, 2013 effective date of the agreement through the end of the agreement's five-year term, Sandoz has agreed to exclusively sell the authorized generic version of Adderall XR supplied by Shire. - Shire will manufacture and supply Sandoz with all dosage strengths of the authorized generic product. Sandoz will distribute the product in the United States. Shire will receive a royalty from Sandoz's sales of the product.
Reminder : Stock has been dwg by UBS this morning, let me know if u want the full note
Dhanin Gears Up for $1.6 Billion Thai IPO
Telecommunications Trust's December Listing Set to be Thailand's Second-Biggest in 2013
Thailand's richest man, Dhanin Chearavanont, is gearing up to launch an initial public offering of some of his telecommunications assets in a nearly $1.6 billion deal this week, people with knowledge of the matter said Monday, in what is set to be the country's second-biggest IPO this year. Mr. Dhanin's bankers have already started talking to institutional investors interested in buying units in the IPO of True Telecommunications Growth Infrastructure Fund, the people said. True Telecommunications, which will be a trust listing, will be carved out of Mr. Dhanin's telecom firm True Corp., which is one of the country's top three telecom operators providing broadband Internet, mobile phone, and pay-TV services. True Telecommunications will officially start taking orders once Thai regulators approve the listing plan, the people said, adding that they expect True Telecommunications to get the green light this week. When it goes public, True Telecommunications' IPO will be Thailand's second-largest IPO this year after Bangkok elevated skytrain operator BTS Infrastructure Growth Fund's $2.1 billion IPO in April. True Telecommunications is planning its listing even though the Thai stock market is currently one of the worst performing in Southeast Asia, as protests against Prime Minister Yingluck Shinawatra hurt sentiment toward Thai stocks. As a trust listing, True Telecommunications will attract investors seeking yields at a time of low interest rates. The prospect of the Federal Reserve tapering its bond-buying programwill affect demand for trust assets, say analysts. Thailand's stock market is down 1% Monday, bringing it 2.6% lower for the year.
Cheniere Energy announces launching of Cheniere Energy Partners LP Holdings 30 mln share initial public offering Co announced that one of its wholly owned subsidiaries, Cheniere Energy Partners LP Holdings (CQH) has commenced an initial public offering of 30 mln common shares representing limited liability company interests in Holdings pursuant to a registration statement on Form S-1 previously filed with the SEC. The common shares have been approved for listing on the NYSE MKT and subject to official notice of issuance will trade under the symbol "CQH".
Goldman, Sachs & Co., Morgan Stanley, Credit Suisse and RBC Capital Markets will act as the joint book-running managers for the proposed offering. In addition, Barclays, Citigroup, J.P. Morgan, Societe Generale, Mitsubishi UFJ Securities, Mizuho Securities, Scotiabank / Howard Weil, HSBC, Banca IMI and SMBC Nikko will act as the co-managers in the transaction.
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BN 12/02 11:01 *EU CLEARS PURCHASE OF ROTHESAY BY BLACKSTONE, GOLDMAN SACHS BN 12/02 11:01 *EU APPROVES ACQUISITION OF INVENSYS BY SCHNEIDER ELECTRIC BN 12/02 10:59 *EU APPROVES ELIXIA DEAL
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*EU APPROVES ACQUISITION OF INVENSYS BY SCHNEIDER ELECTRIC 2013-12-02 11:04:43.345 GMT
--CHRIS MALPASS
-0- Dec/02/2013 11:04 GMT
Goldman Sachs downgrades Internet Coverage view to Neutral; $GRPN, $OPEN, $TRLA
--> Opportunistic call after Outperformance of Tech Indexes vs S&P..not far from highs in term of relative performance on the last few days...
{CCMP Index SPX Index GRT D<GO>}
We could see this OP continue on better online sales data over this thankgiving week end...but for sure we could see a reverse on that...
for the last 3 weeks CCMP Op by 2.4% the S&P...
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Cevian Capital Raises Stake in Volvo to 10.5% of Votes 2013-12-02 10:22:15.803 GMT
By Veronica Ek Dec. 2 (Bloomberg) -- Cevian Capital has bought 25m A shares in Volvo, according to a statement. * Cevian Capital now holds 68,727,400 A shares, 29,776,795 B shares in Volvo, corresponding to 10.51% of voting rights, 4.63% of share capital * Cevian held 6.7% of outstanding votes Sep. 30, according to Volvo website
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
--Editor: Niklas Magnusson
To contact the reporter on this story: Veronica Ek in Stockholm at +46-8-610-0722 or vek@bloomberg.net
To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net
*UNILEVER CEO SAYS EMERGING MARKET SLOWDOWN MAY LAST YEARS *UNILEVER CEO SAYS EMERGING MARKETS NEED STRUCTURAL REFORM
Hinkley Point deal under threat from EU ruling European Commission close to concluding that deal between Government and energy firms on Hinkley Point breaches EU state aid rules
The European Commission is close to concluding that Britain’s nuclear programme at Hinkley Point breaches EU state aid rules and may have to be revised, a move that could lead to long delays and even cause the complex deal to unravel. The EU competition police are examining a string of subsidies tied to the Government’s £16bn agreement with French groups EDF and Areva as well as China’s General Nuclear Power to build two new generation EPR reactors. These would be the first reactors to be built in Britain since 1995, providing 7pc of the UK’s electricity. Sources in Brussels say the chief concern is a £10bn loan guarantee for the construction of the plants, insurance against a meltdown, help with decommissioning costs and the inflation-linked “strike price” of £92.50 per megawatt hour for 35 years. The investigation is being conducted by officials at the competition direct-orate under Joaquin Almunia. They are expected to issue an initial verdict in January, paving the way for a broader inquiry. Any decision requires backing by the “College” of EU commissioners. The team is looking at the broader shape of the Hinkley deal and whether state support on this scale is needed for the project to go ahead. “There was no state aid for Finland’s new reactor,” said one official, pointedly.
Günther Oettinger, the EU’s energy commissioner, warned last month that “35-year feed-in tariffs may be a problem”, adding that the EU might do better to invest more in wind and gas. He earlier described the UK nuclear deal as a throw-back to the “Soviet” era. The Hinkley Point deal sets a precedent for new reactors in other countries. Le Monde said Paris is tracking the dispute closely, worried that any delay could threaten the future of France’s nuclear industry. The newspaper quoted an expert claiming Brussels has already reached a conclusion. “The outcome of the probe is known,” said the source. “What is not known are the conditions that the Commission will impose.” Any move to delay or unpick the deal could lead to a serious political showdown between London and Brussels, adding to the tense mood as Britain’s referendum on EU membership approaches. The Government is relying on the two reactors to avert a power crunch in the early 2020s. Giles Chichester, MEP, the Tory energy spokesman in Brussels, said powerful lobbies were trying block the deal but insisted that the Government is on firm legal ground. “We expect the Commission to be fair,” he said. “We have done our due diligence and are convinced that there is no public finance going into the project. It is essential that we build these two new power stations. Sadly, we have to rely on foreign expertise because of the shameful neglect of our nuclear industry over the last 30 years.” The Government can appeal any decision at the European Court but this would drag on for years and leave the project in limbo. EDF laid off jobs at the site earlier this year after complaining it was losing £1m for each day the project was delayed. Britain suffered a blow in October when the Commission killed proposals that might have permitted EU governments to subsidise the nuclear industry as a “low carbon” source of energy in much the same way they can help wind and solar power. Twelve EU states have called for a “level playing field” between nuclear and renewables. Germany and Austria strongly oppose such a move. The result is that Mr Almunia’s team has to make a judgment based on ordinary EU competition case law, whether they wish to or not. This raises the bar. The Department of Energy and Climate Change said it is working closely with Brussels to ensure that the deal does not breach state aid rules. “It would not be appropriate for the UK Government to comment on an ongoing process or on the timescales for approval,” said a spokesman. The EU’s oversight powers in the energy field are ambiguous. It is largely up to the member states to choose their own energy mix but Article 176 of the Lisbon Treaty gives the EU a number of new but vague powers, to be decided under qualified majority vote. This means Britain does not have a veto. Any use of Article 176 to stop Britain building nuclear reactors would set off a political storm. The EU is on safer ground evaluating the deal on state aid principles. The UK has always been a strong supporter of the EU’s competition directorate, seen as the spearhead of free-market reform in Europe.