TheChek News Flow

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Potash Stocks Advance Pre-Mkt; IPI Rises 5.1%, POT Up 1.2% 2013-11-15 14:20:11.826 GMT

By Aoyon Ashraf and Arie Shapira Nov. 15 (Bloomberg) -- Potash-exposed fertilizers rise pre- mkt led by Intrepid Potash +5.1%, Potash Corp. +1.2%, Mosaic +9%, Agrium +0.3%; Uralkali owners said to see sale accord as early as next week. * Alta Corp’s John Chu said stake sale may mean Uralkali CEO will be returned to Russia, talks likely to begin on BPC reunion * POT will likely get boost from these events, if they happen * Mkt may not return to where it was before BPC breakup; POT may not trade in high $30-mid $40 range * Uralkali Jumps Most in 2 Months as Owners Said to Be Near Deal * NOTE: Yday, potash-exposed fertilizer stocks underperformed; Belarus said it plans 2014 potash exports of 7mt at $300/t: Interfax * K+S pushing ahead w/ development of Legacy in Canada * NOTE: Nov. 13, Susquehanna said potash demand may rebound next year; corn price seems to be at seasonal low post-WASDE

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--Editor: Joanna Ossinger

To contact the reporters on this story: Aoyon Ashraf in Toronto at +1-416-203-5713 or aashraf7@bloomberg.net; Arie Shapira in New York at +1-212-617-1488 or ashapira3@bloomberg.net

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

Gapping down

In reaction to disappointing earnings/guidance: GSE -21.6%, PATH -8.1%, APP -7.9%, SANW -7.1%, BONA -6.7%, STRM -4.9% (also announces intent to acquire two companies; sees Q3 revs of $6.7 mln vs $8.48 mln two analyst estimate; provides FY14 guidance), TROV -4.5% (light volume), JWN -1.5%, AMAT -0.3%.

M&A news: TRLA -2.5% (following comments from CEO on CNBC that company is not for sale ), MW -1.3% (Jos. A. Bank terminates acquisition proposal as Men's Wearhouse fails to engage in discussions).

Other news: FU -4.8% (continued weakness; denies the misleading and inaccurate allegations made in a recent report published by Alfred Little), TMUS -2.9% (prices 66.15 mln shares of common stock at $25.00 per share ), ADES -2.4% ( commences public offering of common stock, size not disclosed), IPG -1.6% (WPP is not preparing bid $25/share to takeover IPG, denying previous reports, according to reports ), NFLX -1.5% (following reports that Comcast to sell movies for download and streaming), ANF -1% (following cautious comments on MadMoney), BIDU -0.5% (Baidu.com sued for alleged online video piracy, according to reports), HSOL -0.5% (announces at-the-market equity ofering of up to an aggregate of $70 mln of its ADSs, each representing five ordinary shares of par value $0.0001 per share).

Analyst comments: GOGO -2.1% (downgraded to Underweight from Equal-Weight at Morgan Stanley ), BBRY -1.2% (downgraded to Underperform from Neutral at Macquarie), K -0.8% (downgraded to Underweight from Equal Weight at Barclays), PRU -0.5% (downgraded to Hold from Buy at Deutsche Bank), SLGN -0.4% (Silgan Holdings downgraded to Underperform from Neutral at BofA/Merrill).

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Snapchat May Have Spurned Offers From Google, Tencent: ValleyWag 2013-11-15 13:35:27.797 GMT

By Beth Mellor Nov. 15 (Bloomberg) -- Snapchat has turned down multi- billion offers from Google, Tencent and Facebook, ValleyWag says, citing person familiar with matter. * Tencent was first to offer Snapchat a termsheet at valuation between $3b-$4b before walking away from deal after Snapchat CEO said he wanted a higher valuation, person said * Facebook offered Snapchat $3.5b plus earnouts, which was matched by Google; both offers were rejected by Snapchat, ValleyWag reports, citing person familiar * NOTE: Nov. 13, Dow Jones reported Snapchat spurned offer from Facebook that valued Snapchat at $3b or more

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--Editor: Joanna Ossinger

To contact the reporter on this story: Beth Mellor in New York at +1-212-617-3078 or bmellor@bloomberg.net

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

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BN 11/15 13:31 *BILLIONAIRE PROKHOROV SAID TO LEAD BIDDERS FOR URALKALI STAKE BN 11/15 13:31 *URALKALI OWNERS SAID TO SEE SALE ACCORD AS SOON AS NEXT WEEK

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*URALKALI OWNERS SAID TO SEE SALE ACCORD AS SOON AS NEXT WEEK 2013-11-15 13:32:55.358 GMT

--NADINE SKOCZYLAS

-0- Nov/15/2013 13:32 GMT

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BN 11/15 11:10 *EU TO PROPOSE NOV. 25 PLANS FOR DOUBLE NON-TAXATION RULES BN 11/15 11:09 *EU TO PROPOSE TIGHTENING CORPORATE TAX LEGISLATION

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EU to Propose Tightening Corporate Tax Legislation 2013-11-15 11:14:19.209 GMT

By Aoife White Nov. 15 (Bloomberg) -- EU regulators will propose on Nov. 25 an overhaul of tax rules in a bid to close off opportunities for corporate tax avoidance. * Proposals aim to tackle “double non-taxation i.e. where loopholes in national tax systems are exploited by companies to pay no tax at all,” European Commission says in e-mailed statement * “Double non-taxation deprives member states of significant revenues and creates unfair competition between businesses in the single market,” EU says. “Tackling this problem requires urgent and coordinated action at EU level” * Tax legislation changes need full support from all 28 EU member states

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To contact the reporter on this story: Aoife White in Brussels at +32-2-237-4329 or awhite62@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at +32-2-285-4318 or pchapman10@bloomberg.net

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S&P 500 Yr-End Target Raised by JPMorgan’s Lee; Lists 21 Stocks 2013-11-15 10:16:38.560 GMT

By Roger Neill Nov. 15 (Bloomberg) -- JPMorgan’s Thomas J Lee raises S&P 500 target to 1,825 vs 1,775; says U.S. in secular bull market, remaining constructive on equities is warranted. * Technology, financials are half of 50-point target increase; still comfortable tilting toward cyclicals given expectations of broadening growth in U.S., Europe, potential for P/E expansion: Lee * Lists stocks: CA, NE, RIG, IVZ, DAL, PCLN, ACT, TROW, MYL, ENDP, VVUS, HTWR, TRLA, LCC, TEN, WWWW, PZN, ALSN, SXCP, ARCC, AWAY * CRITERIA: Industry in the top quartile of QTD performance; raised net income estimates from 9/30 to 11/14; rated overweight or neutral by JPMorgan Analysts * NOTE on Nov. 13: Strategists’ S&P 500 Index Estimates for Year-End 2013 (Table)

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--Editor: Roger Neill

To contact the reporter on this story: Roger Neill in London at +44-20-7673-2867 or rneill3@bloomberg.net

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Deutsche Post Plans Higher Prices for Letters, Parcels Next Year 2013-11-15 08:35:04.523 GMT

By Richard Weiss Nov. 15 (Bloomberg) -- Deutsche Post proposes to raise some prices citing higher personnel, transportation costs. * Standard letter stamp to cost EU0.60 from Jan. 1 vs EU0.58 * NOTE: co. in Jan. raised stamp price to EU0.58 vs EU0.55 * Proposes to raise prices for various registered letter services, parcels weighing >2kg, international services * Filed proposal with Germany’s Federal Network Agency for Electricity, Gas, Telecommunications, Post and Railways * Govt agency has 14 days to respond to proposal * NOTE: Federal Network Agency changed rules to allow Deutsche Post to increase prices in line with CPI

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--Editor: Jurjen van de Pol

To contact the reporter on this story: Richard Weiss in Frankfurt at +49-69-92041-287 or rweiss5@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at +49-30-70010-6230 or bkammel@bloomberg.net

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WPP Bid for Interpublic Very Unlikely, Analysts Say 2013-11-15 08:35:39.479 GMT

By Blanche Gatt Nov. 15 (Bloomberg) -- WPP little changed in thin vol. in early trade following a Daily Mail report it may bid $25-share for Interpublic. * Interpublic closed at $17.28 in New York * Liberum says a WPP cash bid for Interpublic as mentioned in Daily Mail report is “very unlikely.” * Says Interpublic weak in digital, faster-growing mkts, which are WPP’s target growth areas * Interpublic has various decade-old “legacy issues” that constrain its scope to expand margins * WPP CEO Martin Sorrell has criticised Publicis/Omnicom merger partly because of scale: Liberum * Kepler Cheuvreux analyst Conor O’Shea says in e-mailed comment mooted bid “unlikely given Martin Sorrell’s comments on the Publicis/Omnicom deal” * NOTE: At Goldman conference in Sept., WPP’s Sorrell said unlikely to acquire Interpublic or Havas in near term, plans to spend ~ $500m-$1b annually on M&A * WPP had GBP1.94b in cash, mkt cap GBP18b vs Interpublic mkt cap $7.5b: Bloomberg data For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>

--Editor: Gaurav Panchal

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

JPM economist raises end-2013 S&P price target to 1825 from 1775