>>> Sage Group confirms North American payments business is up for sale; to reta

Sage Group confirms North American payments business is up for sale; to retain UK & Ireland and South Africa payments businesses
04 MAY 2017
Sage Group [LON:SGE], a UK-based software company, has confirmed that it has put its North American payments business up for sale. Sage also said it will retain ownership of its payments businesses in South Africa and the UK and Ireland. The relevant extract from Sage Group’s 1HY17 results announcement of Wednesday, 3 May follows:
Update on our payments and banking strategy
The golden triangle remains integral to our strategy. Earlier in the year we announced a review of our payments and banking capabilities, which has now made significant progress. Today we reconfirm our commitment as a key participant in the global payments and banking services ecosystem, increasing our focus on deeply embedding payments and banking services within our accounting, payroll and people products, to help customers move and manage their money in many more geographies than we do today.
Execution of this strategy involves:
‒ Leveraging existing payments capability where it is complementary to our core business model and growth aspirations, like in South Africa where payments capabilities are deeply integrated within our software, and in the UK & Ireland, which is growing strongly through e-commerce;
‒ Evolving and adding to our existing strong and stable partnerships in this area with leading payment and technology companies such as PayPal, Verifone, Elavon, Mastercard, American Express, and major banks in key geographies;
‒ Exiting those areas where the fit with our core business is not as strong.
We can therefore confirm that our North American payments business is now held for sale but we plan to retain the payments businesses in UK & Ireland and South Africa.

Fwd:>>> AB Inbev - Interesting Chart configuration - Update +3.7% on numbers



From: LAURENT CHEKROUN (MAKOR SECURITIES LO) At: 05/03/17 09:31:52
To: LAURENT CHEKROUN (MAKOR SECURITIES LO)
Subject: Fwd:>>> AB Inbev - Interesting Chart configuration - Update
Stock is holding the 200d MA - Outperforming mkt - numbers tomorrow

From: LAURENT CHEKROUN (MAKOR SECURITIES LO) At: 05/02/17 14:21:14
Subject: Fwd:>>> AB Inbev - Interesting Chart configuration
* Stock is trading today above its 200d MA - first time since Nov 2016
* Stock has underperfomed SX5E by 3.9% YTD / by 16.80% on 52w., Underperformed SX3E by another 3%
* Beverage continue to Underperform the broader market but communications from integration & Synergies from SAB Deal could help the performance
* 2017 Highs have been tested and broken today (103.12 - we traded up to 103.20)
* Stock opened with a gap today ( 101.82/102.80) if they close above the 200d MA (102.30) could see an acceleration to check higher levels
* 106.87 (3.8% higher) is the first level we should check on the upside - with an extension the 108 levels
* Support is the 50d MA (100.84) and the bottom of the range where we trade 100.34.
* Stock is trading Ex Div today and Reporting on Thu. 4th of May.

I will buy the stock to play a bounce from here.

See a quick chart below :

>>> Europe Pre-Market Indications

CS
Adidas +2% Q1 revs €5.67bn vs cons €5.40bn, EBIT margin 30 bps ahead
Air France +2-3% Operating loss €143m vs cons €142m
Airbus +2% CS REITERATE OUTPERFORM - IDEAS ENGINE
Alstom +1-2% FY revs inline, EBIT 1% beat, 5.8% margin (est 5.7)
AB Inbev +2-3% Organic EBITDA 5.8% vs cons 3.3%, Brazil strong
Arkema +1% EBITDA 355m vs CS at 340m cons 341m, Volumes +4 pricing +1%
BMW M/P Confirms prelim Q1 earnings released on 20 April
Carlsberg +2% Q1 rev DK 13.7bln est DK 13.4bln, keeps outlook
EDP +1% EBITDA €1,011m, Reuters cons €991m
Esure M/P Gross written premiums +24%, motor good..home subdued
Freenet +1% Revs 838mln cons 815.8mln, guidance slightly better
G4S +2% Q1 organic +8.9%, Q4 was +8%, guidance inline
Gemalto +1-2% Secure smart chip to be integrated in the Samsung Galaxy S8
Glencore M/P Production numbers,miss in Coal and Copper,weather related
Gjensidige +2% Q1 Net of NOK 1.1bn vs 944m cons, 11% beat at the PBT level
GN Store -2% Q1 Revenues 4% ahead, EBITA inline, guidance confirmed
HSBC +2% 12% adjusted PBT beat, better revs and lower provisions
Imagine Tech +3-5% Puts MIPS and Ensigma up for sale
IMI +2% Organic growth 4% in Q1 cons around flat to -1%
Infineon M/P Q2 revs EU 1.77bln est EU 1.78bln
Inmarsat +1-2% Revenues and EBITDA beat
Ladbrokes -1% Confident to deliver FY inline, online competative
Lanmcashire -3% 1Q Written Premiums 9% light, 1Q pretax profit 2% light
Leonardo +1-2% 1Q revs EU2.48B, EST. EU2.41B, confirms guidance
Miners M/P Copper -0.25%, Brent +0.65%, Iron Ore -1.00%, China UNCH
Morrison +1-2% Expectation and guidance for 2017/18 unchanged
Next -3-5% Sales miss, lowers top end of profit guidance
Nokia +0.5% Plans to sell its undersea cabel divisions
Randgold M/P Q1 Gold production 322,470 ounces (CSe325k), EBITDA ahead
Repsol +2% Adj net EU630M; EST. EU533M
Rolls Royce M/P Trading inline and outlook unchanged, gearing fell to 27%
RSA +2% Solvency better and TNAV better
Royal Dutch +2-3% EPS beat, big FCF generation
Siemens UNCH Orders 6% ahead of expectations, pension funny in there
Snam M/P Q1 EBIT 353mn, bbg consensus 345mn, Confirms FY targets
Soc Gen -1-2% Numbers beat but 75% of it is the Corporate center
Statoil +2-3% Adj net $1.11b, v cons $736.5m, another $1b efficiency
Swiss Re +1% Q1 Net Income inline, better P&C, marginal Life Re miss
Telecom It +1-2% 1Q Ebitda EU1.99b vs est. EU1.98b
Telenor +1% Numbers inline and raise EBITDA margin outlook
Veolia UNCH 4% beat at EBIT level but Net a 2% miss
Yoox +2% 1Q sales +15.5% Y/Y, Management maintained current guidance

CARNEGIE Indications
* STATOIL +5% 24% Ebit beat, solid production and maintains CapEx
* FRED OLSEN +5% 10% Ebitda beat, upbeat outlook and due a bounce.
* SERNEKE +5% We upgrade to Buy from Hold
* ELTEL +5% We upgrade to Buy from Hold & -17% yday.
* TELIA +2% Reducing Turkcell stake a clear +ve in our view
* GN +1% only up small despite solid figs due to recent strength
* CARLSBERG +1% in lines figs, strong EEurope growth, but priced in?
* FINGERPRINT -10% Ebit miss of 36% despite only warning end March
* EDGEWARE -3% likley down on Sales miss, but we would buy on weakness
* TELENOR -3% Ebitda 2% light and poor margin growth
* GJENSIDIGE -2% COR 2% miss

MainFirst
*SOC GEN-NI 1.08b(863.2),Net 747m(863),Legal Provs €350m............+1%
*INBEV-OR +3.7%(2.8),Ebitda 4.81b(4.86),OVG -0.5%(-0.6),Rev 12.9....-1%
*ALSTOM-FY Net 289m(248),Div 25c,Confirms 2020 targets..............+1%
*SIEMENS-Q2 Sales 20.2b(19.7),sees FY Inds Bizz margin 11%-12%......-1%
*SWISS RE-NI 656m(708.4),P&C NI 321m,L&H NI 193m,SI 2.11%...........+1%
*GJENSIDIGE-PT 1.37b(1.23),NI 1.11b(943.8),EPS 2.22(1.89)...........+2%
*BPOST-Rev €764m(709.8),Ebitda €176.9m(179),Net €96.1m(99.2)........-1%
*FREENET-Rev 838m(815.8),Ebitda 100.9m(97),NI 41.7m(51),ok/l ok.....+1%
*TIT-Rev 4.82b(4.78),Ebitda 1.99b(1.98),Co exps LSD Ebitda grth.....+1%
*EDP-NI €215m(186.4),Ebitda €1.01b(976.6),Sees NP above 2016........+1%
*YOOX-Net Rev €515m(508),Net New Orders 2.2m,Short Int 26%.........+2%
*STATOIL-NI 1.1b(736),PT 3.3b(2.56),Div 22c,Addit Cost Cuts 1b......+3%
*ARKEMA-Net 137m(133.6),Rev 2.15b(2.09),Confident for FY targets....+2%
*IFX-Rev 1.77b(1.78),Seg Pft 296m(301.5),EPS 21c(22),SI 1.18%.......-2%
*ADIDAS-Sales 5.67b(5.4),GM 49.2%(49.7),OP 632m(589.66).............+1%
*VEOLIA-Rev 6.27b(6.17),Net Inc 155m(159),Confirms tgts 17,18,19....+1%
*ANDRITZ-Rev 1.39b(1.316),Ebit 86.9m(82.95),NI 63m(58.1),o/l ok.....+2%
*RHEINMETALL-Sales 1.35b(1.26),Ebit 50m(42.4),Confirms f/cast.......+1%
*BMW-NI 2.15b(1.83),FCF Auto 1.6b,Confirms 2017 forecasts...........+0.5%
*SNAM-Rev 628m(623),Ebit 353m(344.8),NP 254m(232.4),SI 2.5%.........+1%
*FINGERPRINT CARDS-Rev 685.9m(675.4),Op Inc 70.8m(110),GM 41%(42.9).-1%
*AIR FRANCE-Net -216m(-143.5),Rev 5.709b(5.74),Bookings gd start Q2.+3%
*REPSOL-Net 630m(533),Ebitda 1.7b(1.53),Net Debt 8.3b,SI 2.1%.......+2%
*CARLSBERG-Rev 13.7b(13.4),Org Rev 4%(2.8),FY outlook unch..........+1%
*ELMOS-Rev 60.8m(60.3),Ebit 4.7m(4.4),NI 2.9b(3),FY confirmed.......U/C
*TAG IMMOB-Rental Inc 71.5m(71),NI 22.1m(22),FFO 20c(19)............U/C

(CS) Global Aeropsace & Defence : Winter is coming; structural change likely fo

Winter is coming; structural change likely for the aerospace supply chain

We analyse how airframers like Airbus and Boeing can leverage technology disruptions to reduce the margin gap with their suppliers. The profit impact will be gradual but we believe it will be instrumental in reducing the valuation gap, with suppliers ex aerostructures trading on 2019E EV/EBIT of c.12.0x, while airframers trade on c.8.0x on average. This would expand and perpetuate the significant gap reduction that we expect over 2017-20E, as airframers' earnings grow with volumes. Airbus and Boeing should see upside to their long-term profit margins, while Heico should benefit from new avenues of growth. Dassault Systemes would benefit from digitalisation, GE and Arconic (Restricted) appear well positioned on 3D printing, while in automation, Siemens seems to have the strongest position.

>>> What to look at today - 4th of May 2017

Dow +0.04% S&P -0.13% Nasdaq -0.37% Russell -0.60%
US Market closed mixed. After AAPL Earnings buyer turned to GOOG & Chipmakers. Lightly-weighted sectors like real estate (-1.3%), telecom services (-0.6%), and materials (-1.0%) populated the bottom of the day's leaderboard with the weakness in the materials group owed to the commodity market's poor performance; gold (-0.8%), silver (-1.4%), and copper (-4.2%) all settled with solid losses. However, crude oil was able to eke out a win despite the EIA reporting a smaller than expected draw for the week ended April 28 (0.9 million actual vs 2.0 million consensus). The energy sector made the most of the relatively upbeat performance, adding 0.3%. Twenty-First Century Fox (FOX 28.35, -1.50) showed the widest decline, losing 5.0%, while Dow component Walt Disney (DIS 111.62, -2.75) tumbled 2.4%. The remaining laggards--health care and utilities--closed with losses of 0.4% and 0.5%, respectively. consumer staples (+0.1%) and financials (+0.6%) spaces outperformed.  FOMC voted unanimously to leave the fed funds target range unchanged at 0.75%-1.00%, as expected, with the accompanying policy statement providing little new information. The market still expects the Fed to raise rates at its June meeting with the CME FedWatch Tool assigning an implied probability of 70.7% to said event. Treasuries settled generally lower with the 2-yr yield (1.29%) and the 10-yr yield (2.31%) adding three basis points apiece. US After Hours DATA +8%, FIT +7%, SQ +5%, AIG +1.4% following earnings/guidance, KPTI +30% on license agreement news... CAKE -8%, CAR -6%, TSLA -2.4%, FB / KHC -2% following earnings/guidance. Asia indices are mixed in the wake of modest gains on Wall St, as surprisingly less cautious than anticipated Fed statement in light of disappointing US economic data of late supported expectations for pre-charted FOMC policy course. In economic data, China Caixin Services PMI hit an 11-month low with its 4th straight sequential decline, as new order rate of growth slowed, employment growth eased to the weakest level this year, backlogs of work fell, and cost pressures eased across all sectors.

Nikkei Closed Hang Seng -0.48% CSI -0.12% Shanghai -0.16%

Eur$ 1.0895 CNH 6.8965 CNY 6.8972 JPY 112.78 GBP 1.2871 CHF 0.9944 RUB 1.2870 WTI $47.64 -0.38%

S&P +0.10% EuroStoxx +0.37% FTSE +.43% Dax +0.29% SMI +0.33%

Macro :
- Bernanke Says Reasonable for Trump to Reappoint Fed Chief Yellen
- Europe Stock Hedges Are Cheap; Buy VStoxx Call Spreads: JPMorgan

Keep an eye on :
- ABI BB : AB InBev 1Q Adjusted Ebitda Misses Est.
- ADS GY : Adidas Confirms Outlook, 1Q Net From Cont. Ops EU455m
- AF FP : Air France-KLM 1Q Net Loss EU216m vs Loss EU155m
- AKZA NA : Akzo Said to Have Hired JPMorgan for Chemical Unit: Telegraaf
- ALO FP : Alstom Profit Rises After Netting 10 Billion Euros in Orders
- AKE FP : Arkema 1Q Net EU137m Vs EU98m
- BMW GY : BMW Leaves 2017 Outlook Unchanged for ‘Slight’ Profit Growth
- BNP FP : Belgium Cuts BNP Paribas Stake With $2.2 Billion Stock Sale (25% of its 10.19% stake), Pricing @ 65.10
- CARLB DC : Carlsberg Has Good Start, Organic Sales Encouraging, Exane Says
- COMB BB : Bois Sauvage to Pay EU0.1m in Settlement With FSMA Over Recticel
- CSGN VX : Credit Suisse 1Q Net Litigation Provisions CHF143m
- BPOST BB : Bpost Affirms Forecasts; 1Q Adj. Ebitda of EU176.9m Misses Ests.
- CBK GY : Commerzbank Shareholders Reject Bid for Shorter Notice Period
- DTE GY : Sprint Falls as Future Hinges on T-Mobile M&A: Street Wrap
- EDP PL : EDP 1Q Net Income EU215m, Est. EU186.4m
- FNTN GY : Freenet 1Q Revenue Beats Highest Est.
- GNFT FP : Banco Popular, Genfit Among Most-Shorted April EU M&A Targets
- GLEN LN : Glencore Said in Talks to Sell Royalties Portfolio: Reuters
- GLEN LN : Glencore 1Q Own-source Copper Production 324,100 Tons
- IFX GY : Infineon 2Q Total Segment Profit Misses Lowest Est.
- ISAT LN : Inmarsat 1Q Revenue $332.2m
- KORI FP : Korian 1Q Revenue Rises 4.6%; Co. Confirms FY Targets
- LDO IM : Leonardo Confirms Guidance, 1Q Revenue EU2.48b
- NOVOB DC : Novo Nordisk Challenged by Decline in British Pound: WSJ
- PRS SM : Prisa 1Q Adj Ebitda EU92.5M
- RIO LN : Rio Tinto Says Hasn’t Had Any Approaches From Activist Investors, CEO Says Chinese Iron Ore Mines are Key Uncertainty
- RBS LN : RBS Investors Should Vote Against Chairman Over Diversity: PIRC
- REP SM : Repsol 1Q Adj. Net EU630M; Est. EU533M
- SIE GY : Siemens 2Q Sales, Profit Rise; Confirms Outlook for FY2017
- GLE FP : Societe Generale 1Q Net EU747m; Est. EU863m
- GLE FP : SocGen Says It Settled With Libya Wealth Fund for EU963 Million
- SRG IM : Snam 1Q Revenue Beats Est.
- SREN VX : Swiss Re 1Q Net Misses Est. Amid $350m Hit From Cyclone Debbie
- TIT IM : Telecom Italia 1Q Rev. Beats Est.; Local Rev. Seen Rising in 2Q
- TELIA SS : Telia Seeks to Sell About 150m Shrs in Turkcell
- VIE FP : Veolia 1Q Current Net Income Up 4.8% to EU155M, Keeps Targets
- YNET IM : Yoox Net-a-Porter 1Q Sales Up 19% on Organic Basis

>>> Europe : Brokers Upgrades & Downgrades - 4th of May 2017

>>> Up
*Gas Natural Raised to Neutral at BPI, PT EU22.35
*Kraft Heinz Raised to Overweight at Consumer Edge Research
*Linde Raised to Buy at HSBC, PT EU179
*Osram Raised to Buy at Nord/LB, PT EU70
*Pernod Ricard Raised to Neutral at Macquarie, PT EU117
*Red Electrica Raised to Outperform at RBC, PT EU19.50

>>> Down
*Erste Cut to Hold at HSBC, PT EU35
*Italgas Cut to Underperform at RBC, PT EU4.25
*Kinepolis Cut to Hold at ING, PT EU49
*Korian Cut to Hold at SocGen
*National Grid Cut to Sector Perform at RBC
*Natixis Cut to Neutral at Exane, PT EU5.80
*Sistema Cut to Equal-weight at Morgan Stanley
*Symrise Cut to Neutral at MainFirst, PT EU68
*Terna Cut to Underperform at RBC, PT EU4.75
*Wolters Kluwer Cut to Hold at Deutsche Bank

>>> Initiation
*Anima New Outperform at MainFirst, PT EU7.10
*Aumann New Hold at Hauck & Aufhaeuser, PT EU65
*Azimut Holding New Neutral at MainFirst, PT EU20
*FinecoBank New Outperform at MainFirst, PT EU7.90
*Mediolanum New Neutral at MainFirst, PT EU7.70

>>> Call
>> Stock
*GAM HOLDING ADDED TO TOP PICKS LIST AT BAADER HELVEA

>>> Asian Update

Asia Mid-Session Market Update: China PMI figures continue to signal more pronounced slowdown; USD consolidates post-FOMC gains

***US Session Highlights***
- (US) APR ADP EMPLOYMENT CHANGE: +177K V +175KE (lowest since Oct); March revised lower
- (US) APR FINAL MARKIT SERVICES PMI: 53.1 V 52.5E
- (US) Puerto Rico reportedly increases offer to general obligation bondholders to as much as 90 cents on the dollar - press
- (US) APR ISM NON-MANUFACTURING COMPOSITE: 57.5 V 55.8E; new orders jump to highest since 2005
- (US) DOE CRUDE: -0.9M V -2ME; GASOLINE: +0.2M V +0.5ME; DISTILLATE: -0.6M V +0.5ME
- FOMC statement cited recent economic data weakness and wouldn't change current stance on the progression of interest rate increases. The statement also mentioned that the labor market continued to show signs of strength and consumer spending was solid, with inflation close to target. Overall, the reading remains for a further two rate hikes this year.

***US markets on close: Dow +0.2%, S&P500 +0.1%, Nasdaq +0.1%***
- Best Sector in S&P500: Financials
- Worst Sector in S&P500: Real Estate
- Biggest gainers: FSLR +11.8%; DLPH +10.9%; CTXS +7.1%
- Biggest losers: FTR -16.5%; AKAM -15.5%; APC -7.7%
- At the close: VIX 10.7 (+0.1pts); Treasuries: 2-yr 1.30% (+4bps), 10-yr 2.31% (+1bps), 30-yr 2.95% (-3bps)

***US movers afterhours***
-TLRD Raises FY17 $1.60-1.90 v $1.66e (prior $1.45-1.75); to wind down partnership with Macy's; +10.0% afterhours
-DATA Reports Q1 -$0.03 v -$0.10e, R$200M v $201Me- Non-GAAP op margin -2.1% v -0.7% y/y - Customer account adds 3.3K, total 57K; +7.3% afterhours
-FIT Reports Q1 -$0.15 v -$0.18e, R$298.9M v $277Me- Guides Q2 -$0.17 to -$0.14 v -$0.11e, R$330-350M v $340Me; +7.2% afterhours
-SQ Reports Q1 +$0.05 v -$0.08e, R$462M v $451Me- Guides Q2 adj +$0.03-0.05 v -$0.07e; EBITDA$25-28M, adj Rev $223-226M v $532Me; +5.0% afterhours
-TSLA Reports Q1 -$1.33 v -$0.55e, R$2.70B v $2.56Be; -2.4% afterhours
-FB Reports Q1 $1.04 v $1.10e, R$8.03B v $7.85Be- Monthly active users (MAUs) 1.94B, +17% y/y; -2.5% afterhours
-CAR Reports Q1 -$0.94 v -$0.51e, R$1.80B v $1.85Be- Cuts FY17 $2.85-3.50 v $3.16e, Affirms Rev +2-3% y/y, implies $8.8-8.95B v $8.81Be; -6.0% afterhours
-CAKE Reports Q1 $0.72 v $0.73e, R$563.4M v $565Me; -7.6% afterhours

***Key economic data***
- (CN) CHINA APR CAIXIN PMI SERVICES: 51.5 V 52.2 PRIOR; 4th month of sequential decline and weakest level since May 2016
- (AU) AUSTRALIA MAR TRADE BALANCE (A$): +3.11B V +3.25BE (5th consecutive surplus)
- (NZ) NEW ZEALAND APR ANZ JOB ADVERTISEMENTS M/M: 2.8% V 2.0% PRIOR
- (NZ) NEW ZEALAND APR ANZ COMMODITY PRICE M/M: -0.2% v 0.4% PRIOR
- (SG) SINGAPORE APR PMI COMPOSITE: 52.6 V 52.2 PRIOR; highest since Nov 2016

***Asia Session Notable Observations, Speakers and Press***
- Asia indices are mixed in the wake of modest gains on Wall St, as surprisingly less cautious than anticipated Fed statement in light of disappointing US economic data of late supported expectations for pre-charted FOMC policy course. Australia remains among the worst performers in the region, with mining space hit by another steep decline in iron ore prices while Japan remains closed for holiday. In Hong Kong, defensive Utilities fared better, while autos, banks, and tech shares slumped. In commodities, WTI remains under slight pressure, though Copper prices are off their lows following the steep plunge in US hours.
- FX is also more rangebound after US midday volatility saw USD/JPY hit 6-weeks highs just shy of 113 level on higher post-FOMC short-term rates. AUD was dented by softer China Caixin Services/Composite PMIs before erasing its losses on comments from RBA Gov Lowe, who was discussing the risks of record high household debt to income ratio in the context of inevitably tighter policy.
- In economic data, China Caixin Services PMI hit an 11-month low with its 4th straight sequential decline, as new order rate of growth slowed, employment growth eased to the weakest level this year, backlogs of work fell, and cost pressures eased across all sectors. Aussie Trade Balance saw its 5th straight month of surplus, with export growth edging higher to 2.0% from 1.5% and imports up 5% v decline of 5% in prior month. Iron ore shipments rose to 3-month highs.

China
- (CN) China FX regulator (SAFE) vice chair Zheng Wei: China to manage companies with high FX business risk more strictly - press
- (CN) Analyst: China should consider introducing new bond products to raise funds for market-oriented debt-to-equity swaps - CSJ

Australia
- (AU) RBA Gov Lowe: Should not expect rates to always be this low, households should be prepared for an increase in interest rates in Australia at some point
- (AU) Australia Port Hedland Apr Iron Ore Exports 42.2Mt, +12% y/y

***Asian Equity Indices/Futures (00:30ET)***
- Nikkei closed, Hang Seng -0.5%, Shanghai Composite -0.1%, ASX200 -0.6%, Kospi +0.7%
- Equity Futures: S&P500 +0.1%; Nasdaq +0.1%, Dax +0.2%, FTSE100 +0.1%

***FX ranges/Commodities/Fixed Income (00:30ET)***
- EUR 1.0880-1.0900; JPY 112.60-112.90; AUD 0.7405-0.7430; NZD 0.6875-0.6895
- June Gold -0.6% at 1,241/oz; June Crude Oil -0.2% at $47.72/brl; July Copper +0.8% at $2.54/lb
- (CN) PBOC to inject combined CNY50B v CNY200B prior in 7-day, 14-day and 28-day reverse repos
- (CN) PBOC SETS YUAN MID POINT AT 6.8957 V 6.8892 PRIOR; Weakest Yuan fix since Apr 11th

***Asia equities notable movers***
- BoCom (3328.HK) -1.2%; Bocom International Holdings unit looking to raise up to HK$2.07B from IPO; May issue USD bond as early as next week - financial press
- Galaxy Entertainment (27.HK) -0.8%; Q1 results

- NAB (NAB.AU) -0.2%; H1 result
- Vocus (VOC.AU); -1.8% In talks to sell data center business
- Kathmandu (KMD.AU) +4.5%; Q3 sales

>>> After Hours Summary: DATA +8%, FIT +7%, SQ +5%, AIG +1.4% follo


After Hours Summary: DATA +8%, FIT +7%, SQ +5%, AIG +1.4% following earnings/guidance, KPTI +30% on license agreement news... CAKE -8%, CAR -6%, TSLA -2.4%, FB / KHC -2% following earnings/guidance

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings/guidance: SITO +17.3%, FIVN +12.2%, AIRG +10.9%, TLRD +9.8% (Tailored Brands and Macy's announce joint plan to wind down operations under the tuxedo rental license agreement Macy's, Inc. had established with Men's Wearhouse on June 9, 2015; Tailored Brands updates FY18 guidance), ATSG +9.5%, WTI +8.9%, TGB +8.9%, FORM +8.4%, AOSL +8% (ticking higher), DATA +7.9%, FIT +7%, PCOM +6.4%, GTE +6.1%, ARWR +5.8%, RAIL +5.6% (ticking higher), SQ +5.2%, HIVE +5.1% (ticking higher), NVDQ +4.6%, HIIQ +4.1%, BRKR +3.4% (light volume), PIP +3.3%, GPL +3.3%, OSUR +3%, VVUS +2.9%, CF +2.9%, ARRS +2.8%, WPX +2.6%, SRI +2.6%, STMP +2.2%, ALB +2.2%, HZN +2.1% (ticking higher; also announces share repurchase program for up to 1.5 million shares authorized by Board of Directors), AIG +1.4%, LNC +1.3%, IO +1.2%, PRU +1.1%

Companies trading higher in after hours in reaction to news: KPTI +29.6% (Karyopharm Therapeutics and Anivive Lifesciences sign exclusive global license agreement for verdinexor; KPTI to receive $1 mln upfront payment and eligible to receive up to $43.5 mln in future milestones, plus royalties), SCON +15.2% (10% owner Director Kopp disclosed the purchase of 200K shares), APHB +10.7% (still checking)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings/guidance/SSS:  CAKE -8.3%, CAR -6.4% (also enters into a new cooperation agreement with SRS Investment Management, terminating the stockholder rights plan it adopted earlier this year), GKOS -5.5%, MITL -5.4% (ticking lower; also discloses workforce reduction), BEAT -5.1%, ANDE -5%, SRC -4.7%, OUT -3.9%, NUS -3.8%, CTL -3.7%, EYES -3.1%, DDD -3%, LPI -2.9%, RUBI -2.8%, CBL -2.8%, TSLA -2.4%, LVLT -2.4%, FB -2.3%, PXD -2.2%, KHC -1.6%, QRVO -1.5%, MASI -1.4%, ZUMZ -1.1% (reports April comps of +7.8% vs -6% year ago and +1.1% last month; sees Q1 EPS at low end of (prior guidance based primarily on a higher than expected tax rate)

Companies trading lower in after hours in reaction to news: BPMX -27.1% (achieves the primary endpoint in its phase 2b clinical trial evaluating BPX-01; secondary endpoint results were not statistically significant; has not yet analyzed the safety data from the phase 2b study), LNTH -8.6% (commences 3 mln common stock offering by its existing stockholders), CVNA -6.2% (continued weakness), GDDY -3.8% (announces public offering of 24,000,000 shares of Class A common stock; expects to repurchase, from the selling stockholders, an aggregate of $275 million of limited liability company units of Desert Newco), PETX -3.5% (prices registered direct offering of 5 mln shares at $5.25/share), HUBS -3.3% (to offer $300 mln aggregate principal amount of Convertible Senior Notes due 2022, in a private offering), AMAG -1.5% (commences $250 mln offering of Convertible Senior Notes due 2022)m