EU commission indicates it is unaware of any new proposals set forth by Juncker that would lower the primary surplus goals
CNBC's Cramer teases CEO appearing on 'Mad Money' tonight
Reportedly EU Commission to offer Greece a compromise deal to unlock EFSF funding, with conditions; IMF would not be party to new deal - Greek press
- Deal includes primary budget surpluses: a 2015 primary surplus of 0.75% of GDP, a 2016 surplus of 2% of GDP, 2017 surplus of 3.5% and a 2018 surplus of 3.5%
- Reform of VAT taxes, to be applied after summer (most likely by October 1), providing for a uniform rate of 18% for cash transactions and 15% for card transactions and maintaining the low rate of 6.5%.
- Increase extraordinary tax on annual incomes above 30,000 euros to pre-reduction levels, maintains the ENFIA tax
- A zero deficit in the subsidiary clause, but this will be reviewed as part of the dialogue to be launched in autumn for the sustainability of the pension system
- Reportedly there is a special chapter regarding the IMF, which has reservations about the new deal. Reportedly EU officials believe the IMF will not fund Greece, but at the same time will not make public complaints and recommend providing support from the EFSF.
CNBC: Chipmakers Intel, Altera resume deal talks
2015-05-18 13:19:04.817 GMT
http://www.cnbc.com/id/102687205
PageExcerpt:
Chipmakers Intel and Altera have resumed talks on a possible deal that could top $13 billion, CNBC has confirmed. The renewed talks were initially reported by the New York Post. Earlier discussions on a deal fell through as the companies were unable ...
2015-05-18 13:19:04.817 GMT
http://www.cnbc.com/id/102687205
PageExcerpt:
Chipmakers Intel and Altera have resumed talks on a possible deal that could top $13 billion, CNBC has confirmed. The renewed talks were initially reported by the New York Post. Earlier discussions on a deal fell through as the companies were unable ...
Gapping down
In reaction to disappointing earnings/guidance: BSPM -8.1%, CVV -2.1%, ESLT -1.7%, JASO -1.1%
Select notable EU names showing weakness: PHG -2.3%, DEG -2.3%, SAN -2%, DB -1.9%, UN -1.8%, STM -0.6%, HSBC -0.6%
Select oil/gas related names showing early weakness: SHI -2%, TOT -1.4%, RDS.A -1.1%
Other news: EBIO -71.6% (announces top-line results from its Phase 3 study of EBI-005; study did not achieve primary endpoints), BHP -5.1% (announces the commencement of trading of spin-off South 32; IPO launch generally perceived as disapointing valuation), NBG -4.3% (Greek banks trade lower today; IMF concerns Greece wont be able to make June 5 payment), OCN -4.3% (Reduced positions according to 13F filings at Highfield Cap and Alden Global), MT -2.9% (may be in symp with BHP), CLRB -2.6% (discloses a delay in filing form 10-Q), YGE -2.4% (still checking, co did file annual rpt Form 20-F), AZN -1% (reports MOVANTIKTM safety analyses of Opioid; also to invest ~$285 mln in a new high-tech facility for manufacturing of biological medicines in Sweden), BABA -1% (USA Today details news that Kering (PPRUY) has filed lawsuit against Alibaba (BABA) over counterfeit goods)
Analyst comments: YELP -1.9% (downgraded to Neutral from Overweight at Piper Jaffray), LINE -1.7% (downgraded to Sell from Neutral at Goldman), STO -1.7% (downgraded to Sell at Goldman), LYG -1.6% (downgraded to Sell at Investec), LVS -1.2% (downgraded to Neutral from Buy at Goldman), CTXS -1% (downgraded to Neutral from Buy at Goldman), GPOR -1% (downgraded to Sell from Neutral at Goldman), BP -0.9% (downgraded to Sell at Goldman), RRC -0.8% (downgraded to Neutral at Goldman), CVX -0.7% (downgraded to Sell from Neutral at Goldman), NGLS -0.6% (downgraded to Sell from Buy at Goldman), CHK -0.5% (downgraded to Neutral from Buy at Goldman)
Gapping up
In reaction to strong earnings/guidance: AMCO +37.8%, XGTI +9.6%, SLTD +9.5%, VRS +6.9%, GURE +6.9%, ITRN +5%, PBR +4.3%, ASTI +3.2%, KITE +1%, CLNT +1%
M&A news: ANN +21.9% (to be acquired by ascena retail group (ASNA) for price per share of ~$47.00), ASNA +9.8% (to acquire ANN for $47 per share), ALTR +6.5% (Intel (INTC) may resume takeover discussions with ALTR, according to NY Post), GTI +2.8% (Brookfield Asset Management (BAM) to commence tender offer for GTI common stock at $5.05/share), ENDP +0.5% (to acquire Par Pharmaceutical in a transaction valued at $8.05 bln)
Select metals/mining stocks trading higher: IGLD +3.4%, AUQ +1.6%, PAAS +1.3%, GG +1.3%, GOLD +1.2%
Other news: PSTI +8.6% (PLX cells were selected for European Medicines Agency's Adaptive Pathways Pilot Project), PVCT +8% (announces a 60 day extension of its MOU with the Sinopharm-China State Institute of Pharmaceutical Industry and Sinopharm A-THINK Pharmaceutical Co), ITCI +4.8% (announces further analyses of the Phase 2 Clinical Trial of ITI-007), MNKD +3% (cont strength), URBN +2.3% (ANN peer), QSR +2% (announces repricing of first lien term loan facility), LVLT +1.8% (postive Barron's article), VGGL +1.7% (Exec Chairman/ CEO made an unsecured demand loan to the Company totaling $325k, bearing interest at the rate of 12% per annum), RIG +1.6% (approves dividend of $0.60 per share), AGIO +1.1% (AG-120 was granted FDA Fast Track Designation to treat Acute Myelogenous Leukemia with an IDH1 Mutation), TS +1% (restates carrying value of Usiminas investment), SGMO +1% (announces that new data from its ZFP Therapeutic programs in disease models of lysosomal storage disorders were presented last week which demonstrate proof of concept for its In Vivo protein replacement platform), CSIQ+0.9% (announced that Natixis will provide the company with up to C$53.5 Million in non-recourse, construction plus term financing)
Analyst comments: BIOD +10.6% (initiated with a Buy at ROTH Capital; tgt $5), PTBI +5.9% (initiated with a Buy at H.C. Wainwright; tgt $15), PFNX +5.5% (initiated with an Overweight at Barclays), ATEN +4.6% (upgraded to Overweight from Sector Weight at Pacific Crest), SSE +3.1% (upgraded to Buy from Hold at Jefferies), PENN +2.6% (upgraded to Buy from Neutral at Goldman), TNK +1.4% (initiated with a Overweight at JP Morgan), PDCE +1% (initiated with a Conviction Buy at Goldman), GPRO +0.7% (upgraded to Perform from Underperform at Oppenheimer
)
In reaction to strong earnings/guidance: AMCO +37.8%, XGTI +9.6%, SLTD +9.5%, VRS +6.9%, GURE +6.9%, ITRN +5%, PBR +4.3%, ASTI +3.2%, KITE +1%, CLNT +1%
M&A news: ANN +21.9% (to be acquired by ascena retail group (ASNA) for price per share of ~$47.00), ASNA +9.8% (to acquire ANN for $47 per share), ALTR +6.5% (Intel (INTC) may resume takeover discussions with ALTR, according to NY Post), GTI +2.8% (Brookfield Asset Management (BAM) to commence tender offer for GTI common stock at $5.05/share), ENDP +0.5% (to acquire Par Pharmaceutical in a transaction valued at $8.05 bln)
Select metals/mining stocks trading higher: IGLD +3.4%, AUQ +1.6%, PAAS +1.3%, GG +1.3%, GOLD +1.2%
Other news: PSTI +8.6% (PLX cells were selected for European Medicines Agency's Adaptive Pathways Pilot Project), PVCT +8% (announces a 60 day extension of its MOU with the Sinopharm-China State Institute of Pharmaceutical Industry and Sinopharm A-THINK Pharmaceutical Co), ITCI +4.8% (announces further analyses of the Phase 2 Clinical Trial of ITI-007), MNKD +3% (cont strength), URBN +2.3% (ANN peer), QSR +2% (announces repricing of first lien term loan facility), LVLT +1.8% (postive Barron's article), VGGL +1.7% (Exec Chairman/ CEO made an unsecured demand loan to the Company totaling $325k, bearing interest at the rate of 12% per annum), RIG +1.6% (approves dividend of $0.60 per share), AGIO +1.1% (AG-120 was granted FDA Fast Track Designation to treat Acute Myelogenous Leukemia with an IDH1 Mutation), TS +1% (restates carrying value of Usiminas investment), SGMO +1% (announces that new data from its ZFP Therapeutic programs in disease models of lysosomal storage disorders were presented last week which demonstrate proof of concept for its In Vivo protein replacement platform), CSIQ+0.9% (announced that Natixis will provide the company with up to C$53.5 Million in non-recourse, construction plus term financing)
Analyst comments: BIOD +10.6% (initiated with a Buy at ROTH Capital; tgt $5), PTBI +5.9% (initiated with a Buy at H.C. Wainwright; tgt $15), PFNX +5.5% (initiated with an Overweight at Barclays), ATEN +4.6% (upgraded to Overweight from Sector Weight at Pacific Crest), SSE +3.1% (upgraded to Buy from Hold at Jefferies), PENN +2.6% (upgraded to Buy from Neutral at Goldman), TNK +1.4% (initiated with a Overweight at JP Morgan), PDCE +1% (initiated with a Conviction Buy at Goldman), GPRO +0.7% (upgraded to Perform from Underperform at Oppenheimer
)
AT&T at J.P. Morgan TMT Conference
- Believes will be able to drive cost synergies in DTV merger.
- Adding mobile centric content.
- Will continue to invest in broadband to homes.
- Says has been a leader in the IoT; will be aggressively pursuing connective car market; have a strong position already here.
* Co reaffirms guidance for Q2 (Jun) and FY15:
- Sees Q2 EPS of $1.46-1.51, excluding non-recurring items, vs. $1.49 Capital IQ Consensus; sees Q2 (Jun) revs of $9.6-9.8 bln vs. $9.75 bln Capital IQ Consensus Estimate.
- Sees FY15 EPS of $6.00-6.15, excluding non-recurring items, vs. $6.09 Capital IQ Consensus; sees FY15 (Dec) revs of $39-39.6 bln vs. $39.46 bln Capital IQ Consensus.
2018 core organic growth targets: 4-6% sales CAGR to $46-51 bln; segment margin to 18.5-20% with double digit earnings growth