>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: GLOG -17.2%, INO -0.7%

Select EU financial related names showing weakness: BCS -2.2%, CS -2.1%, RBS -1.3%


Select oil/gas related names showing early weakness: WTI -12.9%, SDRL -5%, RIG -4.4%, WLL -3.4%, MRO -3.3%,DVN -2.4%, BP -2.2%, COP -1.3%, RDS.A -1.3%, HAL -0.9%

Other news: NQ -24.6% (vague rumors the pending sale of their FL Mobile unit have stalled, co schedule to be at investor conf today), MT -21.1% (may be related to Union/strike issues in Mexico), AVXL -7.7% (presents new data on preclinical development of ANAVEX 3-71; results demonstrate significant reversal in cognitive deficit, inflammation and Alzheimer's-like Amyloid pathology), LCI -7.3% (reviewing its sales projections for fiscal 2016 amid 'unanticipated market softness'), IDRA-4.4% (files ~49.413 mln share common stock shelf offering by selling stockholders)

Analyst comments: ALV -2% (downgraded to Sell from Hold at Evercore ISI), PNC -0.9% (downgraded to Neutral from Overweight at Atlantic Equities)

>>> 3D Systems beats by $0.13, reports revs in-line with upside preannouncement

3D Systems beats by $0.13, reports revs in-line with upside preannouncement
  • Reports Q4 (Dec) earnings of $0.19 per share, excluding non-recurring items, $0.13 better than the Capital IQ Consensus of $0.06; revenues fell 2.1% year/year to $183.4 mln vs the $183 mln Capital IQ Consensus.
  • Guided rev $183 mln vs. $160 mln consensus on Feb 11.
  • "We believe that by leveraging our domain expertise, partner and customer relationships and advanced technology we are well positioned to capitalize on meaningful opportunities in key verticals," continued Johnson. "We are continuing an extensive and comprehensive review of our business and strategy and taking steps to better prioritize our resources and focus our investments."

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: DDD +11.4%, SUNW +10.7%, VICL+7.4%, HNRG +7.2%, KNDI +7%, RDNT +5.8%, CAS +4.4%, ATNM +2.6%, EARS+2.2%, ICON +0.8%, VCEL +0.5%

M&A news: TFM +23.6% (confirms it will be acquired by Apollo Global Management (APO) for $28.50/share in cash, or ~$1.36 bln; go-shop period included in deal), HOT +8.5% (receives a non-binding proposal from a consortium of companies for $76.00/share in cash), IHG +3.8% (HOT peer)


Other news: GWPH +117.1% (announces positive phase 3 study results for epidiolex; achieves primary endpoint of a significant reduction in convulsive seizures vs placebo), ZYNE +54% (in symp with GWPH, also reported earnings), CLBS +20.5% (Caladrius Biosciences subsidiary, PCT, enters into a global collaboration with Hitachi Chemical (HCHMY) that includes licensing, development and equity components), THLD +8.2% (cont strength), GBSN+2.9% (cont vol pre-mkt), SUNE +2.6% (cont strength), AINV +2.2% (to reduce fees for FY 17 to 1.5% on gross assets and Apollo Global Management (APO) informs it will purchase $50 mln of AINV common stock), CLI +0.9% (files ~1.148 mln share common stock offering by selling stockholders )

Analyst comments: TSLA +1.7% (upgraded to Outperform from Neutral at Robert W. Baird), HCA +1.2% (upgraded to Overweight from Neutral at JP Morgan)

>>> Hertz Global to sell ~203.5 mln shares of CAR Inc. stock to UCAR Technology

Hertz Global to sell ~203.5 mln shares of CAR Inc. stock to UCAR Technology for expected proceeds of ~$240 mln
Hertz announced in 2015 that it intended to monetize its investment in CAR Inc. and use the proceeds for general corporate purposes.
  • Co reached an agreement to sell 203,554,310 shares of CAR Inc. stock to UCAR Technology, Inc. on March 13, 2016, with expected proceeds of ~$240 mln.
  • This transaction, together with two other share sales in 2015, reduces its ownership in CAR Inc. to ~1.7 % of CAR Inc.'s total shares.
  • Co also extends its existing commercial agreement between the two companies to 2023.

NY Post : New York City is the capital of millionaires

New York is the globe’s millionaire mecca.

While the US minted an additional 300,000 new millionaires last year — raising the total to a record 10.4 million nationwide, according to a new Spectrem Group study — the Big Apple is rolling them out even faster.

Millionaires, multimillionaires — the city never sleeps in manufacturing high rollers.

And in the category of the richest of the rich, New York wins hands down: The number of our households with annual gross incomes of $200,000 or more hit nearly 247,000 in 2014, according to the Census Bureau.

New York City has the largest population of super-rich on the planet — 8,655 individuals, just over 12 percent of the nationwide total, each having at least $30 million in net assets, according to a recent Wealth-X study.

Not surprisingly, financial advisers in New York reap the benefits of a marquee client list.

David Madee, an adviser at Cantella & Co., said his client, an immigrant from Poland, made his first million by age 20. Eventually, after buying a home in the Hamptons, a luxury $400,000 Mercedes-Maybach and a regular table at New York’s posh downtown Cipriani’s, he settled down.

“He would only invest in triple-A-rated municipal bonds,” Madee told The Post. “After a rough-and-tumble career, he wanted security and reliable, tax-free income.”

If the New York-super rich are typical of their counterparts nationwide, they spend a whopping $1.1 million a year each on luxury goods and services, according to Wealth-X.

But it’s really not all about self-indulgence.

Timothy Speiss, partner-in-charge of EisnerAmper’s Wealth Advisor Group in New York City, said many of his ultrawealthy clients are philanthropists, good souls doing good works.

NY Post : Carl Icahn setting up son to take his place: sources

Carl Icahn is hoping his financially successful offspring never flies the nest.

The billionaire investor is negotiating a new deal with his son, Brett Icahn, in hopes that he will stay at his father’s publicly traded company and eventually succeed him, The Post has learned.

Brett and partner David Schechter manage roughly $7 billion of stocks for Icahn Enterprises. Thanks to savvy bets, their Sargon Portfolio, which started out with $3 billion, has grown to represent nearly 20 percent of the firm’s $36 billion of assets.

The pair is in line for a huge payday come September. Under a deal struck with Icahn in 2012, each is entitled to a lump sum of more than $250 million, equal to 7.5 percent of the profits over a 4 percent “hurdle” rate of return.

Brett stood to reap $256 million as of Dec. 31, 2015, according to the firm’s regulatory filings. The same goes for Schechter, sources said.

Unlike most hedge fund managers, the two men did not collect management fees for running the portfolio.

“They had a tougher deal than any hedge fund manager I can think of, and their returns were better than any manager I can think of, so they certainly earned their stripes,” Carl Icahn told The Post.

“I’m very proud of them,” he said, adding that Schechter, who joined his firm in 2004 from Citigroup, also feels like a son to him.

Although the elder Icahn declined to comment on the negotiations, he’s discussing a deal that would put the pair in charge of Icahn Enterprises when he decides to step down, two sources said.

“They would be the two people that keep the firm going when Carl retires,” one source said.

While the 80-year-old Icahn has been one of Wall Street’s most successful activist investors, his firm lately has had little to brag about outside of Brett. Icahn Enterprises, which stopped managing outside money in 2011, fell for a second straight year, down 18 percent in 2015.

In contrast, Brett, 36, and Schechter, 40, had generated an annualized return rate of nearly 37 percent as of April 2015.

The pair make mostly passive investments, subject to father Carl’s approval, through the fund and have not been involved in running portfolio companies.

One of their biggest hits was Netflix, reportedly netting a $2 billion profit. Other notable investments include Apple, Hain Celestial Group, Mentor Graphics, Nuance, and Take-Two Interactive.

Brett and Schechter also might elect to leave and launch their own hedge fund — an idea they reportedly considered in 2014 and then abandoned, sources said.

Neither could be reached for comment.

Other Icahn protégés have successfully launched their own hedge funds, including Mark Rachesky, who started MHR Fund Management in 1996, and Keith Meister, who kicked off Corvex Management in
2011.

Meanwhile, the elder Icahn, who is close to Donald Trump, said he’s not interested in becoming Treasury secretary if Trump makes it to the Oval Office.

“It’s a little late to be working for someone,” he said. “I’d be happy to be in a kitchen cabinet,” he said, giving advice on a part-time basis.

>>> US Early premarket gappers

Early premarket gappers

Gapping up: GBSN +21.1%, SUNW +13.7%, VCEL +10.2%, HOT +7.6%, SUNE +6.3%, INO +3.5%, CSX +3.1%, CSX +3.1%, IHG +3%, EARS +2.2%, SAN +1.4%, SLV +1.4%, TSLA +1.4%, ABX +1.3%, HMY +1.2%, DB +0.9%

Gapping down: MT -20.7%, DVN -4.7%, RIG -2.6%, SDRL -2.5%, COP -2.3%, HAL -2.2%, ALV -2.2%, BP -1.5%, BCS -1.3%, RBS -1.3%, AZN -0.7%