>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: JMEI -9.7%, RENN -7.3%, PLKI -6.1%, WUBA -4.1%, MOMO -3.8%, SMTC -3.2%, LB -2.7%, YOKU -0.8%, KIRK -0.7%, EHIC -0.5%

Select financial related names showing weakness: NBG -5.7%, ING -1.7%, C -1.1%, BAC -1%, JPM -0.9%, HSBC -0.9%


Other news: SVM -8.9% (co to voluntarily withdraw its common shares from listing on the New York Stock Exchange), PSTR -4.9% (co received a notice of non-compliance from Nasdaq, for not maintaining $10 mln in equity; co intends to be delisted and trade OTC), BITA -3.4% (Chinese mkt down over 3% last night), INFY -2.8% (India mkts down over 1% overnight), TTM-2.8% (India mkts down over 1% overnight), TM -2% (traded lower in Japan after dg yestday), WD -1.7% (announced that it has originated 28 loans worth ~$465 mln, secured by a portfolio of properties acquired by New Senior Investment Group), GPRO -1.7% (weak with overall mkt), TWTR -1.3% (cont weakness), TSLA -1.3% (weak with overall mkt), NFLX -1.3% (weak with overall mkt), PYPL -1% (cont vol in pre-mkt)

Analyst comments: MU -2.3% (downgraded to Neutral at Robert W. Baird), DIS -2% (downgraded to Mkt Perform from Outperform at Bernstein), TFM -1.8% (downgraded to Underperform from Neutral at BofA/Merrill), UNP -1% (downgraded to Neutral from Outperform at Macquarie)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: KEYS +9%, NTAP +7.3%, GFI +6.9%, PERY +6.5%, MSG +2.8%, JKS +2.2%, UNFI +1.9%, KGJI +1.3%, IMMU +1.1%

M&A news: VRX +0.5% (to acquire Sprout Pharmaceuticals for ~$1 bln, confirming WSJ reports the two were near a deal)

Select metals/mining stocks trading higher: AU +7.4%, SBGL +7.3%, DRD +5%, SAND +3.4%, GOLD +2.7%, AUY +2.6%, ABX +2.2%, MUX +1.6%, GG +1.5%, RIO +1.5%, MT +1.4%, AEM +1.4%, GDX +1.3%, NEM +1.2%, SLV +1%

Other news: CLTX +43.9% (Celsus Therapeutics and Volution Immuno Pharmaceuticals announce $75 mln private placement), OHGI +27% (signs cooperation agreement with YTO Express to commence a trial of the Aishuo VoIP platform in Jiangsu province; also reported earnings), AGTC +9.6% (co's previously announced collaboration with Biogen (BIIB) is now effective; Biogen's equity investment in AGTC has closed), MILL +5% (discloses agreement in principle with the staff of the Enforcement Division of the SEC to settle the civil action under which it will pay $5 mln over ~three years), PANL +4.8% (extended its Contract of Affreightment with a major aluminum producer through 2026; sees potential revenue of up to $350 mln over the ten year term), LLY +3% (announces positive top-line results for Jardiance, reporting that the EMPA-REG outcome trial met its primary endpoint), PLUS +2.7% (to replace Sovran Self Storage (SSS) in the S&P SmallCap 600), RCAP +1.6% (closes its $37.5 mln preferred stock issuance, and announces corporate governance initiatives), GDP +0.9% (announced that CFO Jan Schott has resigned to join another company)

Analyst comments: LL +6.6% (upgraded to Buy from Hold at Cantor Fitzgerald), LF +5.3% (initiated with an Outperform at Oppenheimer
)

>>> US Early premarket gappers

Early premarket gappers
Gapping up: CLTX +32.5%, AGTC +21.5%, NTAP +12.1%, SAND +9.8%, KEYS +9%, SBGL +7.6%, GFI +6.9%, AU +6.4%, LL +5.1%, DRD +5%, PANL +4.8%, VRX +3.6%, PLUS +2.7%, UNFI +2.7%, GOLD +2.6%, ABX +2.3%, AUY +2.2%, BTU +2.1%, NEM +2.1%, GG +1.7%, RCAP +1.6%, MUX +1.6%, MT +1.6%, JKS +1.5%, AEM +1.4%, RIO +1.4%, GDX +1.3%,KGJI +1.3%, IMMU +1.1%, SLV +1%, MMLP +0.6%, DATE +0.6%, EURN +0.5%

Gapping down: TRGT -34.8%, ANFI -16.6%, SVM -15%, JMEI -10.3%, RENN -7.6%, PLKI -7.3%, NBG -6.8%, PSTR -4.9%, WUBA -4.4%, MOMO -3.6%, OHGI -3.5%, LB -3.3%, SMTC -3.2%, INFY -2.8%, TTM -2.8%, PBR -2.5%, TM -2%, GDP -1.9%, WD -1.7%, SUNE -1.7%, PYPL -1.6%, VLO -1.6%, ING -1.6%, TWTR -1.5%, DIS -1.4%, STO -1.3%, NFLX -1.2%, BAC-1.2%, TSLA -1.1%, EHIC -0.5%

>>> Petrobras Brasileiro issues a clarification to media reports, says there are

Petrobras Brasileiro issues a clarification to media reports, says there are no ongoing negotiations regarding the eventual payment of a fine for the winding up of civil and criminal investigations in the U​S regarding the violation of the anti-corruption legislation

The co further stated that nor has there been any decision by the U.S. authorities regarding the merit of such an investigation or the eventual amounts involved.

>>> Sears Hldg beats by $0.10, beats on revs

Sears Hldg beats by $0.10, beats on revs

  • Reports Q2 (Jul) loss of $2.40 per share, excluding non-recurring items, $0.10 better than the Capital IQ Consensus Estimate of ($2.50); revenues fell 22.5% year/year to $6.21 bln vs the $5.72 bln consensus.
  • Kmart and Sears Domestic comparable store sales declined 7.3% and 14.0%, respectively, in the second quarter of 2015.
  • Kmart's gross margin rate for the second quarter improved 80 basis points over the prior year second quarter.
  • The Company's cash balances were $1.8 billion at August 1, 2015 compared with $250 million at January 31, 2015.

WSJ : Valeant Nears $1 Billion Deal for Maker of Women’s Libido Drug

Valeant Nears $1 Billion Deal for Maker of Women’s Libido Drug
Sprout recently won approval to sell Addyi, the first drug that aims to boost a woman’s libido

Valeant Pharmaceuticals International Inc. is nearing a deal to pay $1 billion for the closely held company that just won approval to sell the first drug that aims to boost a woman’s libido, according to a person familiar with the matter.

Under the terms, Valeant would pay all cash, one $500 million installment upfront and one next year, for Sprout Pharmaceuticals Inc. and its pink libido pills that will be sold under the brand name Addyi, the person said.

Canada-based Valeant would also take on all of Sprout’s 25 employees, including its leadership team, as they complete preparations to begin sales of the drug in October, according to the person.

The acquisition, which the company could announce as early as Thursday morning, could close in the third quarter, the person said.

The move would be the latest in a string of deals for Valeant, which has used multibillion-dollar acquisitions of companies like Bausch & Lomb, Medicis and most recently Salix to build up portfolios of eye, skin and stomach products. It has projected revenue this year of $10.7 billion to $11.1 billion.

Lately, Valeant and Chief Executive Michael Pearson have been trying to diversify the company’s portfolio even further, with recent deals for cancer-drug company Dendreon and Egypt’s biggest drug maker, Amoun Pharmaceutical.

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The acquisition of Sprout, of Raleigh, N.C., would take Valeant into the market for women’s health products. Because it is the first drug of its kind to win approval, Addyi, known generically as flibanserin, will avoid the kind of competition that can diminish commercial prospects.

Also, Valeant, which sells drugs around the world, has more resources than Sprout to move more quickly introducing Addyi to markets outside the U.S.

But to achieve success, Valeant would need to overcome concerns about the drug’s safety and effectiveness, as well as debate in the medical community about whether low sexual desire is a real condition.

Addyi was approved for premenopausal women by the Food and Drug Administration on Tuesday, after a lobbying campaign partly supported by Sprout that highlighted the opportunity to “even the score” with men who have access to sexual-dysfunction drugs, such as Viagra and Cialis.

The FDA said the drug has the potentially serious side effects of low blood pressure and fainting, especially when taken while drinking alcohol. As a result, the agency restricted provision of the drugs to specially certified doctors and pharmacists.

The deal will further the year’s torrid mergers and acquisitions market, especially for drug companies. The $270.9 billion in deals announced so far this year puts it on a pace to surpass last year’s record of $277.4 billion, according to Dealogic.

Midsize companies like Valeant have led the field, taking advantage of inexpensive interest rates and lower, off-shore tax rates, while trying to adapt to a rapidly changing health-care market. Since Mr. Pearson took the helm in 2008, Valeant has done more than 50 deals.

(Manager-Magazin) ABB CEO announces further job cuts

ABB CEO announces further job cuts

The Swiss industrial group ABB will degrade even more points in the current restructuring of the Group. "We now have 1,500 employees less on board than at the beginning, and we will use natural turnover", said ABB chief Ulrich Spiesshofer in an interview with the manager magazin, which is from 21 August at the trade.

The manpower of the outfitter for the power industry and the industry has shrunk since Spies Hofer change to the group's top management in September 2013. almost 150,000 to 140,000, mainly due to sales of non-core businesses.
Moreover Spiesshofer launched last autumn under the title "Next Level" strategy a Group restructuring to streamline ABB and abolish dual and multiple structures.

But that Spiesshofer could not prevent the ABB share price also since been behind the performance of large rivals such as General Electric showing stock market chart and Siemens show stock market chart remains and in June the activist investor Cevian bought up an equity stake of more than 5 percent. Cevian is known for the long term to impose profound changes in enterprises.

Counted Cevians entry as a confirmation of the strategy

Spiesshofer evaluated Cevians started yet as confirmation of its strategy: "The investor could but also why get in, because he believes that the company now gets going right We give many places gas.." The pressure on the management had not risen, but "completely unchanged".
A smashing into an energy and an industrial part, such as the chief investment officer of the financial group Nordea, Mathias Leijon, has demanded declines Spiesshofer. Instead, he wants to cross "ramp up customer-oriented cooperation, create real added value on the common platform in terms of costs and leverage synergies in research and development" in the group that.

The Group had been "worked not the best possible in the past".