>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: SWHC +7%, MZOR +4.6%, (Q4 guidance)

M&A news: BIN +4% (confirms it has commenced review of strategic alternatives), FCS +3.8% (determines revised unsolicited proposal from China Resources and Hua Capital of $21.70/share in cash would reasonably be expected to result in a 'Superior Proposal')

Select metals/mining stocks trading higher: HMY +5.7%, MT +2.7%, AG +2.3%, FCX +1.8%, GG +1.5%, VALE +1.3%, SLV +1.2%, RIO +1.1%, NEM +1.1%, GDX +0.9%, ABX +0.9%

Other news: UNIS +28.5% (cont strength), GBSN +11.7% (announces updates to the 2016 product roadmap and status for previously announced products and FDA submissions), IMMU +7.8% (issued new patent for additional claims under the patent family 'Dosages of immunoconjugates of antibodies and SN-38 for improved efficacy and decreased toxicity'), EXEL +6.6% (announced 'positive' results from subgroup analyses of the meteor Phase 3 pivotal trial) CTIC +4.1% (CTI BioPharma and Baxalta submit NDA for Pacritinib), RPRX +3.8% (expects to meet with FDA to discuss 'Complete Response Letter' for enclomiphene NDA during)February 2016 GPRO +3.8% (presenting at Citi conf today), HIW +3.4% (has agreed to sell Country Club Plaza portfolio in Kansas City for $660 mln to a Taubman Centers (TCO) and The Macerich Company (MAC) joint venture), VCEL +2.8% (submits Biologics License Application to the FDA for MACI for the treatment of cartilage defects in the knee), MBLY +2.7% (GM exploring Mobileye advanced mapping with OnStar data)

Analyst comments: FSLR +4.3% (upgraded to Buy from Neutral at Goldman), JCP +1.9% (upgraded to Neutral from Sell at Citigroup), CLR +1.5% (upgraded to Buy from Neutral at BofA/Merrill), CLNE +1.4% (upgraded to Mkt Perform from Underperform at Raymond James), FMS +1.3% (upgraded to Buy from Neutral at UBS), RLYP +0.7% (initiated with a Buy at BTIG Research)

>>> Sainsbury Made Approach to Home Retail, Offer Rejected

Sainsbury Made Approach to Home Retail, Offer Rejected

Sainsbury made approach to Home Retail in form of shares and cash in November.
* Sainsbury says combination is attractive proposition
* Has until Feb. 2 to make offer to Home Retail
* No certainty that there will be a formal offer
* Home retail share rise as much as 22%

>>> US Early premarket gappers

Early premarket gappers

Gapping up: EXEL +9.3%, HMY +5.7%, SWHC +5.5%, CTIC +4.1%, RPRX +3.8%, BIN +3.4%, HIW +3.4%, FSLR +3.4%, VCEL +2.8%, BXLT +2%, FCX +1.7%, MT +1.5%, VALE +1.3%, SLV +1.1%, GDX +1.1%, ABX +1%, GG +1%

Gapping down: AKBA -4.5%, SDRL -3.7%, SYT -2.8%, ABB -2.7%, TOT -2.7%, RIG -2.7%, STO -2.6%, XLRN -2.3%, SAN -2.3%, PHG -2.3%, ASML -2.3%, LLY -2.3%, ERIC -2.2%, UN -1.9%, SAP -1.8%, BP -1.8%, DD -1.5%, BHP -1.5%, BCS -1.5%, RDS.A -1.4%, ING -1.4%, RCL -1.4%, DB -1.3%, DIS -1.2%, AZN -1%, HSBC -0.9%, COP -0.8%

>>> Eli Lilly follow-up: LLY reaffirms 2015 guidance, issues 2016 guidance below

Eli Lilly follow-up: LLY reaffirms 2015 guidance, issues 2016 guidance below expectations
  • Co reaffirms guidance for FY15 (Dec), sees EPS of $3.40-3.45 vs. $3.44 Capital IQ Consensus Estimate.
  • Co issues downside guidance for FY16 (Dec), sees EPS of $3.45-3.55 vs. $3.64 Capital IQ Consensus Estimate; sees FY16 (Dec) revs of $20.2-20.7 bln vs. $21.33 bln Capital IQ Consensus Estimate. Non-GAAP figures for 2016 exclude amortization of intangibles as well as integration costs associated with the Novartis Animal Health acquisition.
    • Excluding the unfavorable impact of foreign exchange rates, the company expects revenue growth from a number of established products including Humalog, Trajenta, Cialis, Forteo, Strattera, Erbitux, and animal health products, as well as higher revenues from new products including Cyramza, Trulicity, Jardianc, Portrazza, and Basaglar.
  • "In 2016 we expect multiple regulatory actions across therapeutic areas including diabetes, oncology and immunology," said Derica Rice, Lilly's executive vice president for global services and chief financial officer.

>>> Volkswagen faces up to $80 billion in penalties in US Justice Department law

Nothing really new just some precisions

Volkswagen faces up to $80 billion in penalties in US Justice Department lawsuit

In its 30-page complaint, the Justice Department said the charges carry fines of between $2,750 and $37,500 per car, per violation. Based on four separate violations laid out in the complaint, VW could theoretically face as much as $80 billion in penalties, which is higher than the $18 billion estimated when the scandal broke in September.