>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: HOG +6.4%, BMI +5.9%, KSU +5%, EDU +4%, CE +3.9%, TTS +3.8%, GIG+2.7%, UNH +2.2%, SAVE +1.9%, ( raises Q1 operating margin guidance to ~21.5%, up from previous guidance of 19.0 to 20.5% driven by better-than-expected revs), JNJ +1%

M&A news: BUD +2.4% (confirms it has accepted the binding offer from Asahi Group (ASGLY) to acquire certain of SABMiller plc's (SBMRY) European premium brands)

Select EU related names showing strength with DAX up ~2%: STM +3%, UN +2.7%, CS +2.3%, SAP +2.3%, PUK +2%,HSBC +1.8%, DB +1.6%, SAN +1.5%

Select metals/mining stocks trading higher: AG +6.9%, HL +4.5%, CLF +4.3%, BBL +4%, SLW +4%, BHP +4%, SLV+3.9%, AUY +3.6%, GDX +2.3%, NEM +2.2%, MT +1.9%, ABX +1.9%, FCX +1.6%

Other news: HRTX +17.7% (announces that the FDA has indicated that there are no substantive deficiencies in the NDA for SUSTOL), RPRX +14% (continued strenght/momentum), SGYP +9.6% (FDA has determined that its NDA for plecanatide is sufficiently complete to permit a substantive review), PAAS +4.4% (Pan Am Silver and MacMillan Minerals announce arrangement with Maverix Metals to form a new metal royalty and streaming company), CNHI +3.8% (still checking), GFI+3.2% (reports Q1 operational update), MRNS +3.2% (demonstrates 'robust' efficacy in benzodiazepine-resistant model of status epilepticus), RIO +2.1% (reports Q1 production), IMMU +1.7% ( announces labetuzumab govitecan continues to produce 'encouraging' survival results in a multicenter, open-label Phase 2 study ), DEO +1.7% (in sympathy with Remy Cointrea (better than expected earnings in EU)), WHR +1.6% (authorizes $1 bln share repurchase program; raises quarterly dividend by 11% to $0.90 per share), DVAX +1.4% (presents encouraging data from clinical trial of immuno-oncology product candidate SD-101 and preesents Pivotal Phase 3 data showing HEPLISAV-B provided significantly higher protection against Hepatitis B than Engerix-B ), HALO +1.3% (announces pre-clinical data for the discovery & early development of 2 potential drug candidates ), ARIA +0.9% (presents preclinical data supporting upcoming clinical testing in Non-Small Cell Lung Cancer patients with EGFR and HER2 Exon 20 mutations)

Analyst comments: DVN +1.8% (upgraded to Overweight from Equal-Weight at Morgan Stanley), ESV +1.4% (upgraded to Hold from Sell at DNB Markets)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: ILMN -18.3%, RMBS -13.8%, NFLX -8.7%, LECO -5.3%, EAT -4.5%, IBM-4.1%, CMA -3%, PM -2.8%, BRO -1.4%, GS -1.1%


Other news: CPST -22.3% (to offer common stock and warrants), SUNE -6.5% (Greenlight Capital/David Einhorn disclosed reduced stake in SUNE), AMDA -4% (modestly pulling back following yday's strength), SCMP -2% (announces top-line data from a Phase 2a study of cobiprostone; did not meet its primary endpoints and co intends to discontinue development for PPI-refractory NERD/sGERD), RAI -0.8% (in sympathy with PM)

Analyst comments: EBAY -2.8% (downgraded to Underweight from Equal-Weight at Morgan Stanley), ADTN -1.7% (downgraded to Sell from Neutral at Goldman), AMAT -1.2% (downgraded to Negative from Neutral at Susquehanna), AMT -0.9% (downgraded to Hold from Buy at Evercore ISI)

>>> Goldman Sachs beats by $0.18, misses on revs

--> -0.35% pre open

Goldman Sachs beats by $0.18, misses on revs
  • Reports Q1 (Mar) earnings of $2.68 per share, $0.18 better than the Capital IQ Consensus of $2.50; revenues fell 40.3% year/year to $6.34 bln vs the $6.52 bln Capital IQ Consensus.
  • Annualized return on average common shareholders' equity (ROE) was 6.4%.
  • Investment Banking
    • Net revenues in Investment Banking were $1.46 billion for the first quarter of 2016, 23% lower than the first quarter of 2015 and 5% lower than the fourth quarter of 2015.
    • Net revenues in Financial Advisory were $771 million, 20% lower compared with a strong first quarter of 2015, reflecting a decrease in completed mergers and acquisitions transactions. Net revenues in Underwriting were $692 million, 27% lower than the first quarter of 2015.
    • Net revenues in debt underwriting were significantly higher compared with the first quarter of 2015, primarily reflecting an increase in investment-grade activity.
    • The firm's investment banking transaction backlog decreasedcompared with the end of 2015, but was higher compared with the end of the first quarter of 2015.
  • Institutional Client Services
  • Net revenues in Institutional Client Services were $3.44 billion for the first quarter of 2016, 37% lower than the first quarter of 2015 and 20% higher than the fourth quarter of 2015.
    • Net revenues in Fixed Income, Currency and Commodities ClientExecution were $1.66 billion for the first quarter of 2016, 47% lower compared with a strong first quarter of 2015.
    • Net revenues in Equities were $1.78 billion for the first quarter of 2016, 23% lower than the first quarter of 2015. The decrease in equities client execution reflected significantly lower net revenues in both cash products and derivatives.
  • Expenses
  • Operating expenses were $4.76 billion for the first quarter of 2016, 29% lower than the first quarter of 2015 and 23% lower than the fourth quarter of 2015.
    • The accrual for compensation and benefits expenses was $2.66 billion for the first quarter of 2016, 40% lower than the first quarter of 2015, reflecting a decrease in net revenues.
    • The ratio of compensation and benefits to net revenues for the first quarter of 2016 was 42.0%, unchanged compared with the first quarter of 2015.
  • Non-compensation expenses were $2.10 billion for the first quarter of 2016, 6% lower than the first quarter of 2015 and 49% lower than the fourth quarter of 2015.
    • The decrease compared with the first quarter of 2015 reflected lower other expenses, primarily due to lower net provisions for litigation and regulatory proceedings and lower expenses.
  • Book value per common share was $173.00 and tangible book value per common share was $163.54, both 1% higher compared with the end of 2015.

(BFW) *LOTTE SHOPPING SAID TO PULL OUT FROM BIG C VIETNAM BIDDING:RTRS

on 15/03 : Reuters
Casino plans to seek second-round bids for Big C Vietnam – report : UPDATE

[Subsequent to publication, the text has been changed to include an updated report by the newswire. ]

CasinoGuichard-Perrachon, a French retailer, is soon planning to seek second-round bids for its Big C chain of grocery stores in Vietnam, a newswire reported.

Bloomberg, citing unidentified individuals, wrote that Casino aims to ask for binding offers in the coming weeks, the report continued that Japan-based Aeon was among the several parties that submitted first-round bids.

It was noted that some of the bids that were submitted, values north of USD 800m.

Other reported bidders for the business include Thailand's TCC, owned by billionaire Charoen Sirivadhanabhakdi, and Central Group, and South Korea's Lotte Group.

Casino, which is divesting assets to help cut debt, agreed last month to sell its stake in Big C in Thailand for EUR 3.1bn (excluding debt) to TCC.

(RT) ISIS to target Italian, French & Spanish beach resorts – report

It looks like Russian Media are pushing for Russian to stay inm Russia for holidays and stop going to spend their cash in Europe...
Sotchy for ever....



Islamic State (IS, formerly ISIS/ISIL) is planning terrorist attacks on resorts in southern Europe, including in France, Italy and Spain, a report says, adding that suicide bombers are expected to be disguised as beach vendors.
German Federal Intelligence Service was informed by the Italian intelligence about a threat in European resorts by ISIS, Das Bild newspaper said. The information about the coming attacks was reportedly received from Africa.

The report speculates the potential attackers could mostly come from Senegal, where the Boko Haram terrorist group, which pledged loyalty to IS in 2015, is active.

According to the information, the extremists are expected to be dressed as vendors at the European resorts, selling things like sunglasses, drinks and ice cream.

The militants are going to use automatic weapons or explosive devices in their attacks, the report states. Their bombs may be buried under sunbeds at the resorts.

"It could be a new dimension of terror from ISIS… The holiday beaches are hard to protect...” the paper cited a German high-ranking official as saying.

In June 2015, a gunman allegedly linked to IS opened fire on the beach at the popular Tunisian resort area of Sousse. At least 38 people were killed and dozens injured in the attack. Sousse attracts tourists from Europe as well as neighboring countries.

In March this year, an IS-staged attack on the Bardo Museum in Tunisia’s capital, Tunis, claimed at least 22 lives. The attackers had massive bombs strapped to their bodies.