>>> After Hours : KING +21%, CYBR +17.0%, CBS +3.3%, MX -40.

After Hours Summary: KING +21%, CYBR +17.0%, CBS +3.3%, MX -40.1%, ZNGA -11.7%, GRPN -1.2% following earnings/guidance

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings: KING +21%, CYBR +17%, ELLI +14%, SANW +13.9%, RCKY +11.7%, MTSN +11.7%, JCOM +9.2%, CYTK +6.3%, COLM +5.5%, NEWR +5.3%, WWWW +3.5%, CBS +3.3%, WAGE +3.3%, ALNY +3.1%, BCOR +1.7%, BIOD +1.3%, RBCN +1.1%, LOGM +1.1%, EMKR +1%, IRWD +0.9%, SVM +0.8%, RGC +0.6%, EGN +0.4%, BYD +0.3%, DVA +0.3%

Companies trading higher in after hours in reaction to news: VRML +9.7% (co received ISO 13485:2003 from the British Standards Institution; ISO 13485:2003 certification is the internationally recognized quality standard for medical devices and diagnostics), LOCK +1.5% (announced that Schwark Satyavolu has joined in the new position of Executive Vice President, product and technology, and Ty Shay will become Chief Marketing Officer on March 9), HRL +1.3% (seeing reports that co is close to deal to purchase Applegate Farms for $600 mln to $1 bln), WIN +0.7% (co has named Kenny Gunderman, President and CEO of the company's planned REIT spinoff)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: MX -40.1%, KN -12.5%, ZNGA -11.7%, MGI -5.2%, SFLY -4.8%, CPB -4.2%, SCOK -3.6%, IMI -3.2%, HOLI -3.1%, SYMX -3%, KRFT -2.4%, CGNX -1.6%, SSNC -1.6%, MOBL -1.4%, AIG -1.3%, GRPN -1.2%, DLR -0.9%, TNGO -0.5%, MERC -0.4%, PRO -0.3%, SSTK -0.2%

Companies trading lower in after hours in reaction to news: MX -40.1% (co completed the restatement of its financial filings), PRAN -32.9% (FDA has issued a partial clinical hold letter for PBT2), KRFT -2.4% (announced George Zoghbi as new Chief Operating Officer), NBR -1.7% (co rescheduled its 4Q and FY14 earnings release for March 2, 2015 to allow additional time for completion and review of its financial statements) 

>>> US Close : lDow+0,62% S&P +0,93% Nasdaq+1,18% Russell+1,20%

Closing Market Summary: Cyclical Sectors Lead S&P to 2015 High

The stock market finished the Thursday session on a broadly higher note. The S&P 500 (+1.0%) settled just six points below its record high that was registered in late December while the Nasdaq Composite (+1.2%) outperformed.

Equity indices began the day with modest gains and continued their advance in undisturbed fashion throughout the day. However, participation was limited once again with 786 million shares changing hands at the NYSE floor (50-day average 836 million).

Stocks received an opening boost after it was confirmed that leaders from France, Germany, Russia, and Ukraine struck a ceasefire agreement following a marathon negotiation. The agreement is aimed at restoring the previous Minsk accord from last September, which was violated shortly after its implementation. Despite the uninspiring precedent, hopes for a longer lasting agreement this time around contributed to a global equity rally. Italy's MIB (+2.1%) led the way in Europe while Germany's DAX advanced 1.6%.

As for Greece, Bloomberg reported that Germany is ready to soften its negotiating stance while Eurogroup chief Jeroen Dijsselbloem and Greek Prime Minister Alexis Tsipras agreed to begin a "technical assessment" of the common ground between Greece and the current program in preparations for the next Eurogroup meeting on Monday.

Eight of ten sectors ended the day in positive territory with materials (+1.8%), technology (+1.6%), and energy (+1.3%) spending the day in the lead. Other cyclical sectors posted slimmer gains, but most ended ahead of the broader market while industrials (+0.9%) finished just behind the S&P 500.

Notably, the top-weighted technology sector was underpinned by Cisco Systems (CSCO 29.46, +2.53), which surged 9.4% after beating estimates and raising its quarterly dividend 10.5% to $0.21/share. In turn, Cisco's outperformance helped the Nasdaq spend the day ahead of the broader market.

Meanwhile, another Nasdaq component—Tesla (TSLA 202.99, -9.81)—lost 4.6% in reaction to disappointing results due to below-consensus deliveries in Q4.

High-beta chipmakers also contributed to the strength of the tech-heavy index after NVIDIA (NVDA 22.30, +1.49) reported better than expected results that sparked price target hikes at Canaccord, Needham, and Topeka, among others. The stock spiked 7.2% while the PHLX Semiconductor Index rose 1.6%.

Elsewhere, the energy sector received support from crude oil, which spent the day in positive territory. The energy component notched an intraday high near $51.39/bbl and settled near that level with a 4.7% gain for the day.

In M&A news, Expedia (EXPE 89.57, +11.35) agreed to acquire Orbitz (OWW 11.72, +2.10) for $12.00/share, which boosted other travel-related names. Priceline.com (PCLN 1091.95, +31.89) was a notable outperformer, climbing 3.0%.

Also of note, the price-weighted Dow spent the day behind the broader market due to a 6.4% decline in American Express (AXP 80.48, -5.53) after the company announced it will not renew its co-brand and merchant acceptance agreements with Costco (COST 147.76, +0.30) once the current agreement expires on March 31, 2016.

Treasuries traded lower in overnight action, but surged following today's disappointing Retail Sales report. The 10-yr note inched away from its high, but still ended in the green with the benchmark yield lower by a basis point at 1.98%.

Economic data included Initial Claims, Retail Sales, and Business Inventories:
  • The weekly initial claims level increased to 304,000 from an upwardly revised 279,000 (from 278,000) while the consensus expected an increase to 285,000 
    • The continuing claims level declined to 2.354 million from an upwardly revised 2.405 million (from 2.400 million) while the consensus expected a decline to 2.395 million
  • Retail sales declined 0.8% in January after declining an unrevised 0.9% in December while the consensus expected a decline of 0.4% 
    • Excluding autos, sales fell an even larger 0.9% in January after declining by the same amount in December while the consensus expected these sales to also decline 0.4% in January 
    • Core retail sales, which exclude motor vehicle dealers, gasoline stations, and building material and supply stores, increased by a very modest 0.2% in January, which is even less impressive when compared to the sizable 0.7% increase in aggregate earnings reported in the January employment report 
  • Business inventories increased 0.1% in December following a 0.2% increase in November while the Briefing.com consensus expected an increase of 0.2% 
    • The changes in inventories for manufacturers (-0.3%) and merchant wholesalers (0.1%) were known prior to the release. The only new information was that retailer inventories increased 0.5% in December after declining 0.3% in November 
Tomorrow, Import/Export Prices for January will be reported at 8:30 ET while the advance reading of the Michigan Sentiment Index will be released at 10:00 ET (Bconsensus 98.3).
  • Nasdaq Composite +2.6% YTD 
  • S&P 500 +1.4% YTD 
  • Dow Jones Industrial Average +0.8% YTD 
  • Russell 2000 +0.9% YTD

>>> Sanofi :Presents Data from its Phase 1b Program for Niemann-Pick Type B at t

Presents Data from its Phase 1b Program for Niemann-Pick Type B at the Lysosomal Disease Network’s WORLD Symposium 2015 Presented data from its Phase 1b clinical study at the Lysosomal Disease Networks WORLD Symposium 2015 in Orlando, Fla. detailing the investigational use of enzyme replacement therapy in the non-neurological manifestations of acid sphingomyelinase deficiency (ASMD, also known as Niemann-Pick disease type B), a lysosomal storage disease caused by genetic mutations that affect the metabolism of sphingomyelin. The Genzyme study evaluated the tolerability and safety of olipudase alfa (recombinant human acid sphingomyelinase) in five adult patients with ASMD.

Melissa P. Wasserstein, MD, Director of the Program for Inherited Metabolic Diseases; Medical Director of the International Center for Types A and B Niemann Pick Disease, Mount Sinai School of Medicine, presented: An open-label, multicenter, ascending-repeat-dose study of the tolerability and safety of recombinant human acid sphingomyelinase (rhASM) in patients with ASM deficiency (ASMD). In the trial, each patient received a starting dose of intravenous olipudase alfa at 0.1 mg/kg and escalated dosing every two weeks according to a predetermined schedule up to 3 mg/kg or their maximum tolerated dose. The secondary objective was to study the pharmacokinetics, pharmacodynamics, and exploratory efficacy of olipudase alfa administered every two weeks for 26 weeks. The study findings showed that the dose escalation regimen was well tolerated, with all patients reaching the maximum dose of 3 mg/kg. No serious or severe adverse events or deaths were reported. The data presented on the repeat-dose safety, pharmacodynamics, and exploratory efficacy of olipudase alfa support its continued development for the investigational use in non-neurological manifestations of ASMD. All five patients are participating in the Long-Term Study and will continue on therapy.

"Though a small number of patients, the response we have observed to date is an early indication that this ASM enzyme replacement therapy is promising for this therapeutic area, said Genzymes Acting Head of Rare Diseases, Richard Peters, M.D., Ph.D. We look forward to continuing this program and learning more as we work toward advancing a treatment option for patients that is both safe and well tolerated. Genzyme plans to begin enrolling patients in a Phase 2/3 program for Niemann-Pick Type B in 2015.

(BFW) BP Rises as Much as 3.6%; WSJ Reports XOM May Buy Co.

BP Rises as Much as 3.6%; WSJ Reports XOM May Buy Co.
2015-02-12 18:32:00.362 GMT


By Divya Balji
(Bloomberg) -- BP rises as much as 3.6%, most intraday
since Jan. 16, on 1.2x 3-mo. avg vol.; WSJ reports BP may be
target for Exxon citing Wolfe research report.
* Other potential targets listed in WSJ story include APC, BG/
LN
* NOTE: Feb. 3, Exxon Mobil M&A Targets Include HES, OXY, APC:
Wolfe Research


For Related News and Information:
First Word scrolling panel: FIRST<GO>
First Word newswire: NH BFW<GO>

To contact the reporter on this story:
Divya Balji in Toronto at +1-416-203-5714 or
dbalji1@bloomberg.net
To contact the editors responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net
Stefanie Batcho-Lino

>>> GREECE REJECTED 3M TO 6M PROG EXTENSION AT EUROGROUP

GREECE REJECTED 3M TO 6M PROG EXTENSION AT EUROGROUP -SOURCE
--EUROGROUP TO REMAIN FIRM ON GREECE FOR EU EXTENSION -SOURCES
--ALL EMU STATES AGAINST GREECE'S CALL FOR NEW DEAL -SOURCES
--EUROGROUP FLEXIBLE ON GREECE'S FISCAL MEASURES CHANGES-SOURCES
--FAILURE TO REACH AN AGREEMENT SOON 'A REAL THREAT'-SOURCES

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: ZU -24.6%, AMBR -18.4%, CAB -9.9%, ACHC -8.9%, PNRA -8.2%, TSLA -7.5%, CSOD -6.7%, BIDU -6.7%, NTAP -6.5%, CAKE -5.8%, AVP -5.6%, MPEL -5.2%, GFI -4.8%, SPRT -4.2%, K -3.2%, DIOD -2.7%, CTL -2.3%, BG -2.2%, SNI -2.2%, HIMX -2.1%, AMAT -1.9%, MATR -1.4%, LPSN -1.2%, CTLT -1.1%, SCSS -1.1%,LPNT -1.1%, PPC -0.9%, DBD -0.9%

Other news: COCO -30% (receives delisting notice from Nasdaq; does not intend to appeal the determination), ACHN -5.2% (prices 12,000,000 shares of common stock at $10.25 per share), IMMR -3.6% (reported that judge denined HTC's summary judgment argument that it did not infringe two IMMR patents, but invalidated three other IMMR patents in suit on procedural grounds),OESX -3.4% (announces $15 mln proposed public offering of common stock), AXP -2.6% (announces that its U.S. co-brand and merchant acceptance agreements with Costco Wholesale (COST) are set to end on March 31, 2016), TTHI -2.5% (commenced an underwritten public offering), VIPS -2.4% (following BIDU results), ATRA -0.9% (pricing of its underwritten public offering of 3,638,333 shares of its common stock at a public offering price of $18.00 per share)

Analyst comments: TSO -3% (downgraded to Neutral from Buy at BofA/Merrill), FTI -1.6% (downgraded to Underperform from Neutral at Credit Suisse), GRFS -1.6% (downgraded to Equal-Weight from Overweight at Morgan Stanley), INXN -1.3% (downgraded to Market Perform from Outperform at Wells Fargo)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: NTWK +17.3%, TRIP +15.5%, CJES +10.6%, STMP +9.7%, CS +8.8%, CSCO +7.5%, HUBS +6.9%, ANR +6.7%, FEYE +6.6%, ROIAK +6.3%, HIVE +5.6%, GNC +4.8%, NVDA +4.5%, SKX +4.3%, (after seeing notable move higher in late trade), LMNS +4.1%, RIO +3.6%, FLO +3.5%, ZEN +2.8%, (light volume), SHPG +2.7%, WFM+2.4%, AEM +2.4%, DL +2.3%, IFF +1.9%, TTGT +1.6%, TU +1.4%, WWAV +1.3%, MET +1.2%, TOT +1.2%, ACOR +1.1%, CRAY +1%, (light volume), TAL +1%, DPS +1%, CPA +0.9%, APA +0.9%

M&A news: OWW +22.9% (Expedia (EXPE) has entered into a definitive agreement to acquire Orbitz for $12.00 per share in cash for an enterprise value of ~$1.6 bln)

Select financial related names showing strength: NBG +4.8% (Greece/EU bailout talks continue), DB +3.1%, ING +3%, SAN +2.7%, BCS +2%

Select oil/gas related names showing strength: WHX +17.4%, WTI +7.9%, NADL +5.9%, SD +5.3%, WLL +3.1%, RIG +2.7%

Other news: LIVE +10.6% (still checking; expected to report earnings today), PLX +8.4% (presents additional positive Phase I/II interim clinical data on PRX-102 for Fabry Disease at the WORLD Symposium), FXCM +6.3% (announces certain key operating metrics for January 2015 for its retail and institutional foreign exchange business), VSTM +5.9% (confirms that VS-5584 has received orphan drug designation from the FDA for use in the treatment of mesothelioma), NBG +4.8% (Greece/EU bailout talks continue), YNDX +4.7% (Russia & Ukraine cease-fire), FCEL +3.8% (cont strength), CRIS +3.7% (disclosed that on February 6, 2015, it entered into a termination and transition agreement with Debiopharm International to terminate the previous License Agreement with Debiopharm), OAS +3.6% (still checking), ALU +3.5% (still checking), GREK +3% (Greece / Europe discussions continue), PBR +2.7% (confirms that an explosion took place aboard FPSO Cidade de São Mateus today, February 11th, at approximately 12:50 p.m), SNE +2% (Nikkei +1.9% overnight), CX +1.9% (disclosed that on February 11, 2015, it informed the Mexican Stock Exchange that its CEO stated to the media in Mexico that CEMEX is evaluating possible sources of funds to improve its capital structure), RAD +1.5% (favorable commentary on Wednesday's Mad Money), KBH +1.4% (prices $250.0 mln of 7.625% senior notes due 2023), TSL +1.3% (signs a framework investment agreement with PingAn Trust and Jiangsu Jiuzhou Investment), TWTR +1.2% (confirmed Niche acquisition )

Analyst comments: BLDP +7.7% (upgraded to Buy from Hold at Lake Street), ALLY +3% (upgraded to Outperform from Mkt Perform at Bernstein), URBN +1.6% (upgraded to Buy from Neutral at Goldman)