>>> Up
>>> Down
>>> Reiteration
>>> Initiation
Gapping up
In reaction to strong earnings/guidance: HPE +9.6%, TRXC +9.1%, AVGO +7.8%, GPL +7.3%, SWHC +5.5%, CGNT +5.3%, OEC +4.7%, CLNE +3.5%,WING +3.3%, FATE +2.7%, PLNT +2.5%, IDT +2.1%, HMTV +1.5%, ENT +0.9%, COO +0.7%, EYES +0.6%
M&A news: CKEC +15.9% (to be acquired by AMC Theatres (AMC) for $30.00 per share), CST +9.4% (to explore strategic alternatives), AMC +7.4% (Carmike Cinemas to be acquired by AMC Theatres (AMC) for $30.00 per share)
Select Brazil related names showing strength: GOL +16%, PBR +15.5%, VALE +11.4%, CIG +10%, VIV +6.8%, ABEV +3.3%
Select metals/mining stocks trading higher: FCX +5%, BBL +4.9%, BHP +4.4%, MT +3.2%, CLF +2.9%, RIO +2.5%, HMY +1.2%, AUY +0.7%, SLW+0.7%, .
Select oil/gas related names showing strength: CHK +6.6%, UPL +6.5%, BAS +5.2%, MRO +5.3%, JONE +5.2%, WLL +4.6%
Other news: SUNE +19.7% (SunEdison and TerraForm Power (TERP) enter into settlement agreement with the shareholders of Latin America Power Holding; resolves all of the disputes among the parties regarding the termination of the acquisition of Latin America Power), SDRL +15.9% (settles Total Return Swap agreement; enters new TRS agreement), CPE +11.8% (upsizes and prices 13,265,000 shares of common stock for total gross proceeds of ~$86.2 mln), RJET +9.4% (cont strength), NVO +7.2% (announces top-line results from the LEADERtrial & plans to hold a conference call on Mar 4 ), CIM +2.2% (declared special common stock dividend of $0.50/share), SNY +1.2% (presented results from Phase 1/2 study of investigational second-generation therapy for Pompe disease; Results support beginning pivotal Phase 3 clinical trial in Q2 2016)
Analyst comments: JCP +2.7% (upgraded to Buy from Hold at Evercore ISI), LNG +2.6% (initiated with a Overweight at JP Morgan)
In reaction to strong earnings/guidance: HPE +9.6%, TRXC +9.1%, AVGO +7.8%, GPL +7.3%, SWHC +5.5%, CGNT +5.3%, OEC +4.7%, CLNE +3.5%,WING +3.3%, FATE +2.7%, PLNT +2.5%, IDT +2.1%, HMTV +1.5%, ENT +0.9%, COO +0.7%, EYES +0.6%
M&A news: CKEC +15.9% (to be acquired by AMC Theatres (AMC) for $30.00 per share), CST +9.4% (to explore strategic alternatives), AMC +7.4% (Carmike Cinemas to be acquired by AMC Theatres (AMC) for $30.00 per share)
Select Brazil related names showing strength: GOL +16%, PBR +15.5%, VALE +11.4%, CIG +10%, VIV +6.8%, ABEV +3.3%
Select metals/mining stocks trading higher: FCX +5%, BBL +4.9%, BHP +4.4%, MT +3.2%, CLF +2.9%, RIO +2.5%, HMY +1.2%, AUY +0.7%, SLW+0.7%, .
Select oil/gas related names showing strength: CHK +6.6%, UPL +6.5%, BAS +5.2%, MRO +5.3%, JONE +5.2%, WLL +4.6%
Other news: SUNE +19.7% (SunEdison and TerraForm Power (TERP) enter into settlement agreement with the shareholders of Latin America Power Holding; resolves all of the disputes among the parties regarding the termination of the acquisition of Latin America Power), SDRL +15.9% (settles Total Return Swap agreement; enters new TRS agreement), CPE +11.8% (upsizes and prices 13,265,000 shares of common stock for total gross proceeds of ~$86.2 mln), RJET +9.4% (cont strength), NVO +7.2% (announces top-line results from the LEADERtrial & plans to hold a conference call on Mar 4 ), CIM +2.2% (declared special common stock dividend of $0.50/share), SNY +1.2% (presented results from Phase 1/2 study of investigational second-generation therapy for Pompe disease; Results support beginning pivotal Phase 3 clinical trial in Q2 2016)
Analyst comments: JCP +2.7% (upgraded to Buy from Hold at Evercore ISI), LNG +2.6% (initiated with a Overweight at JP Morgan)
Gapping down
In reaction to disappointing earnings/guidance: VTAE -34.7%, NMBL -15.2%, ERII -12.1%, HRB -11.9%, SNAK -10.9%, AMBA -8.1%, CYTX -7.3%,UNXL -6.4%, SPLS -4.3%, MENT -3.5%, SCM -1.9%, KOPN -1%, AREX -0.9%, MARA -0.5%, .
Other news: GPRO -1.7% (in sympathy with AMBA), CS -1.2% (pulling back following yday's strength), .
Analyst comments: WDAY -1.7% (initiated with a Underperform at Macquarie), CALM -1.7% (downgraded to Underweight at BB&T Capital Mkts),TSN -1.2% (downgraded to Hold at BB&T Capital Mkts), ABB -1% (downgraded to Reduce from Neutral at Nomura), MON -0.8% (downgraded to Sell from Neutral at Goldman), KR -0.5% (downgraded to Underperform from Neutral at Macquarie)
In reaction to disappointing earnings/guidance: VTAE -34.7%, NMBL -15.2%, ERII -12.1%, HRB -11.9%, SNAK -10.9%, AMBA -8.1%, CYTX -7.3%,UNXL -6.4%, SPLS -4.3%, MENT -3.5%, SCM -1.9%, KOPN -1%, AREX -0.9%, MARA -0.5%, .
Other news: GPRO -1.7% (in sympathy with AMBA), CS -1.2% (pulling back following yday's strength), .
Analyst comments: WDAY -1.7% (initiated with a Underperform at Macquarie), CALM -1.7% (downgraded to Underweight at BB&T Capital Mkts),TSN -1.2% (downgraded to Hold at BB&T Capital Mkts), ABB -1% (downgraded to Reduce from Neutral at Nomura), MON -0.8% (downgraded to Sell from Neutral at Goldman), KR -0.5% (downgraded to Underperform from Neutral at Macquarie)
RTRS - GAMESA, SIEMENS WIND ASSET TIE-UP STALLED OVER CONCERNS ON OFF-SHORE JOINT VENTURE BETWEEN GAMESA AND AREVA - SOURCES
Early premarket gappers
Gapping up: SUNE +20.4%, RJET +17.5%, PBR +11.5%, HPE +10.3%, SDRL +9.6%, AVGO +7.8%, CPE +7.5%, SOHU +7.4%, GPL +7.3%, CHK +6.6%,CLNE +6.4%, SWHC +6.3%, ABEV +5.6%, CGNT +5.3%, JONE +5.2%, OEC +4.7%, BBL +4.6%, NVO +4.4%, WLL +4.3%, BHP +4.2%, FCX +3.7%, JCP+3.3%, WING +3.3%, PLNT +3%, CLF +2.9%, MRO +2.8%, RIO +2.8%, MT +2.7%, FATE +2.7%, UNXL +2.6%, CIM +2.2%, VALE +2.2%, IDT +2.1%, AUY+2%, AUY +2%, BCS +1.6%, SLW +1.4%, SPLS +1.3%, HMY +1.2%, ENT +0.9%, COO +0.7%, TUMI +0.4%,
Gapping down: VTAE -17.2%, NMBL -15.2%, NMBL -15.2%, ERII -12.1%, SNAK -10.9%, PRGN -8.3%, CYTX -7.3%, AMBA -7%, HRB -6.1%, MENT -3.5%,EYES -2.3%, MRK -2.1%, CS -2.1%, SCM -1.9%, GPRO -1.5%, SNY -1.4%, WDAY -1.2%, RBS -1.1%, KR -1%, KOPN -1%, GSK -0.9%, MARA -0.5%
Gapping down: VTAE -17.2%, NMBL -15.2%, NMBL -15.2%, ERII -12.1%, SNAK -10.9%, PRGN -8.3%, CYTX -7.3%, AMBA -7%, HRB -6.1%, MENT -3.5%,EYES -2.3%, MRK -2.1%, CS -2.1%, SCM -1.9%, GPRO -1.5%, SNY -1.4%, WDAY -1.2%, RBS -1.1%, KR -1%, KOPN -1%, GSK -0.9%, MARA -0.5%
Buccellati rumored to be exploring a sale - sources
Buccellati, the Italian producer of high-end jewellery, is rumored to be exploring a sale, having attracted bid interest from a string of strategic players, one source close to, and two people briefed on the situation said.
Potentially, this wave of interest could push PE sponsor Clessidra to consider offers for Buccellati this year, without a formal auction, the sources said.
Gianluca Brozzetti, Buccellati's CEO, did not comment on the matter. A spokesperson for Clessidra also declined to comment.
Buccellati has seen mounting interest from strategic suitors in recent months, the two sources said. Management has already received unsolicited offers from some bidders, one of the sources said, without giving any names. Although Clessidra and the management aim to create an Italian giant in high-end jewellery, they could change their ideas and seriously consider approaches in the event that international fashion houses such as Kering or LVMH submit relevant offers, the same source continued.
In March 2013, Clessidra acquired the majority of Buccellati. According to rumours, the private equity firm paid EUR 80m for a 70% stake. At that time, Buccellati had a turnover of EUR 60m a year.
Buccellati is focusing on its rebranding efforts and is in expansion mode, the second source recalled, mentioning Switzerland-based Richemont - which has brands such as Cartier, Van Cleef & Arpels, Montblanc; Burberry, Tiffany & Co and Swarovski could potentially be interested in acquiring jewellery companies such as Buccellati.
According to the source, there is a strong PE appetite for luxury assets, with a specific element to consider. Citing a McKinsey report, the source said that jewellery industry is still primarily local, and the ten largest jewellery houses will double their market share by 2020, primarily by acquiring local players.
>>> Asset Class Flows
* Equities: small $0.2bn inflows (ends 8 straight weeks of inflows)
* Bonds: $4.8bn inflows (largest since Jul’15)
* Precious metals: strong $2.1bn inflows (biggest 4w inflows in 7 years)
* Money-markets: $0.7bn outflows
>>> Equity Flows
* Europe: $1.7bn outflows (4 straight weeks = worst 4w period since Oct’14)
* Japan: tiny inflows for second straight week ($89mn)
* EM: small $0.2bn outflows (18 straight weeks)
* US: small $0.6bn outflows (outflows in 12 of past 13 weeks)
* By sector: first inflows to healthcare/biotech in 9 weeks ($0.2bn); utilities see 8th straight week of inflows
>>> Fixed Income Flows
* Monster $5.8bn inflows to HY bond funds (largest on record in absolute terms) (largest since Jul’13 as % of AUM)
* $0.5bn inflows to EM debt funds (largest since May’15)
* 24 straight weeks of inflows to Munis ($0.5n)
* $2.4bn outflows from Govt/Tsy funds (largest in 16 weeks)
* $0.8bn outflows from IG bond funds (outflows in 6 of past 7 weeks)
* 18 straight weeks of outflows from bank loan funds ($0.1bn)
Dow+0.26% S&P+0.35% Nasdaq +0.09% Russell +0.97%
US MArket Closed Higher ahead of today employment report, Commodity sentive energy lead the move. energy (+1.3%) managed to lead the pack while industrials (+0.6%) and financials (+0.5%) followed. Meanwhile, the heavily-weighted health care (-0.4%) and technology (-0.1%) were the only two spaces to end in the red. countercyclical sectors were able to recover from some early relative weakness as utilities (+0.6%), consumer staples (+0.5%), and telecom services (+0.3%) ended on their best levels. The three sectors sport the largest year-to-date advances of 6.9%, 2.2%, and 11.2%, respectively. Volume were above average with 1.12bil shares. US After Hours CLNE +7.3%, AVGO +6.6%, HPE +6.2%, OEC +4.8%, SWHC +4.4%, VTAE -23.5%, ERII -12.1%, SNAK -10.9%, AMBA -6.8% following earnings/guidance; GPRO -1.8% (in sympathy with AMBA. Asian equity markets are mixed in a pre-NFP session that is typically less volatile, as investors this month in particular look to consider whether the case for more tightening will remain on the table with a strong number or fizzle entirely with a miss. FX side was uncharacteristically more active on comments out of Japan and China Yuan fix. USD/JPY plunged about 30pips to 113.20 after BOJ Gov Kuroda said he is not considering lowering rates further into negative territory at this time, reiterating the central bank remains open to take appropriate policy steps in the future if needed.
Nikkei +0.32% Hang Seng +0.69% Shanghai +0.41%
Eur$1.0947 CNH 6.5156 CNY 6.5241 JPY 113.83
S&P +0.04% EuroStoxx+0.70% Dax+0.66% SMI +0.35%
Macro :
- Lazard CEO: M&A Fundamentals Unchanged Since Record 2015: Echos
- DNB CEO Says Oil Service Vessel Cos Need to Consider Mergers: DN
- Goldman Said to Be Cutting More Than 5% of Fixed-Income Jobs
- Oil Prices May Hit $50/Bbl in May, Credit Suisse’s Stuart Says
- Former Barclays CEO Bob Diamond Said Eyeing African Assets: FT
Keep an eye on :
- AIR FP : Airbus Plans 400-Seat Jet Dubbed The A350-8000, Reuters Reports
- ANDR AV : Andritz 4Q Sales, Ebitda Beat Estimates; Plans EU1.35 Dividend
- AREVA FP : Areva to Cut Up to 450 Jobs in French Drome Region: AFP
- BNP FP : BNP Paribas Fortis to Exchange 20 CASHES for 20,885 Ageas Shares
- BRNL NA : Brunel 2015 Rev. In Line; Strong 4Q in Europe, Oil & Gas Down
- CRG IM : ECB Asks Banca Carige to Present New Funding, Business Plan
- CRG IM : Banca Carige Revises Down 2015 Net Loss to EU102
- CON GY : Conti Could Cope With EU2b-EU3b Buy, CFO Tells Boersen-Zeitung
- DBK GY : Deutsche Bank Said to Extend Deferral Period for Bonus Payments
- DB1 GY : EU’s Oettinger Advises Germany to Back Deutsche Boerse, LSE Deal
- EDP PL : EDP Targets Net Debt of Less Than EU16.5b in 2016, CEO Says
- GAM SM : Siemens Reviews Gamesa Merger on Bid Uncertainty: Expansion
- GTO NA : Gemalto FY Rev. EU3.122b vs Est. EU3.105b
- GTO NA : Gemalto CEO Opposes ’Back-Door’ Access to Smart Phones for Govt
- GLPG NA : Galapagos Sees 2016 Cash Burn EU100m-EU120m, Down Y/y
- SDF GY : ProSieben to Replace K+S in DAX; Steinhoff Enters MDAX
- MONC IM : Moncler 2015 Rev., Adj. Ebitda Beats Ests.
- PHIA NA : Blackstone, Onex Said Partnering to Bid for Philips Unit: WSJ
- PSM GY : ProSieben to Replace K+S in DAX; Steinhoff Enters MDAX (Earlier)
- SAN FP : Sanofi Developing Possible Myozyme Successor for Pompe Disease
- SAN FP -1.4% after hours in the us presented results from Phase 1/2 study of investigational second-generation therapy for Pompe disease; Results support beginning pivotal Phase 3 clinical trial in Q2 2016
- SIKA VX : Sika Receives Motion to Extend Term of Office of Special Experts
- TIT IM : Telecom Italia CEO Said to Be at Risk as Vivendi Seeks Revamp