>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: ZOES +4.5%, DMND +3.7%, CMGE +2.2%, UTIW +1.3%, ALOG +0.5%

M&A news: JASO +14.4% (receives non-binding 'going private' proposal for $9.69/share from Chairman and CEO), INO +2.4% (hearing reports of takeover rumors), LBTYA +1% (reports AMC that co is in discussions with Vodafone (VOD) regarding a potential transaction)

Other news: PTN +60% (positive FDA panel vote for Sprout Pharma's (private company) filbanserin for the treatment of hypoactive sexual desire disorder in premenopausal women ), PACD +9.7% (still checking, may be OPEC related), ARO +5% (CEO disclosed purchase of 250K shares, worth total of $481.1K; 6/3-6/4 transaction dates), CETV +4.5% (still checking), LTBR +4.1% (announces South Korea granted patent for metallic nuclear fuel design), RTRX +3% (received fast track designation for RE-024 for the treatment of pantothenate kinase-associated neurodegeneration), ISIS +3% (license agreement with Bayer HealthCare (BAYRY) for ISIS-FXIRx has cleared the HSR period, resulting in immediate payment to Isis of $100 mln), OPXA +2.9% (disclosed that NASDAQ granted extension request; co now has until November 30, 2015 to regain compliance with the minimum bid requirement), ANTH +2.6% (announces additional data on patient-reported outcomes from Phase 2b PEARL-SC Blisibimod study; Treatment with blisibimod was associated with statistically significant and clinically meaningful improvements in patient-reported fatigue (, MANH +2.6% (to replace LTM in the S&P MidCap 400), FEYE +1.9% (after US Office of Personnel Mgmt security breach), HZNP +1.4% (announces initiation of a Phase 3 trial of Actimmune, to treat of patients with Friedreich's Ataxia), PANW +1.3% (after US Office of Personnel Mgmt security breach)

Analyst comments: AES +1.5% (upgraded to Overweight from Neutral at JP Morgan), GRPN +0.8% (reinstated with a Buy at Deutsche Bank)

>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: VNCE -10.3%, ZUMZ -8.9%, ESL -7.8%, CMTL -4.3%, YGE -3.8%, LITB -3.7%, COO -2.6%, PAY -2.2%, VISN -1.4%, .

M&A news: VOD -1% (confirms it is discussing possible exchange of assets with Liberty Global (LBTYA), says not in discussions concerning a combination), .

Select EU related names showing weakness with Dax down ~1.5% overnight: NBG -3%, LUX -2.4%, NOK -2.2%, ALU -1.8%, CNHI -1.8%, SHPG -1.7%, ING -1.6%, PHG -1.6%, NVS -1.3%, ABB -1.3%, DEO -1.2%, DB -1.1%, HSBC -0.9%, CS -0.8%

Select metals/mining stocks trading lower: HMY -2.2%, GFI -1.2%, GFI -1.2%, AU -1.2%, GOLD -1.2%

Other news: CPF -6.1% (announces intentions to offer 3,000,000 shares of common stock), ENDP -1.4% (upsizes and prices offering of 24,024,025 ordinary shares at a price of $83.25 per share), BCLI -0.8% ( filed for a $100 mln mixed securities shelf offering ), QIWI -0.8% (filed for offering of ~6.42 mln ADSs representing one class B share for selling shareholders)

Analyst comments: PSG -1.2% (downgraded to Neutral from Outperform at Wedbush
)

>>> Officials deny rift between Merkel and Schaeuble over Greece

Officials deny rift between Merkel and Schaeuble over Greece - RTRS


BERLIN, June 5 (Reuters) - The German government went to unusual lengths on Friday to deny a newspaper report of a rift between Chancellor Angela Merkel and Finance Minister Wolfgang Schaeuble over Germany's tough stance towards Greece.

The mass-circulation Bild said Schaeuble had been upset by a surprise meeting in Berlin on Monday night between Merkel and Greece's international creditor institutions.

But spokesmen for both politicians were adamant that there was no disagreement.

"The chancellor and the finance minister work together tremendously and with a great amount of mutual trust," said Merkel's spokesman Steffen Seibert when asked about the report. "That's especially the case when it comes to the Greek issue."

Schaeuble's spokesman Martin Jaeger added: "I can't see any differences, either in substance or process, between my minister and the chancellor."

Bild said Schaeuble, 72, had not been informed in advance about Merkel's meeting with the heads of the International Monetary Fund (IMF), European Central Bank (ECB) and European Commission: Christine Lagarde, Mario Draghi and Jean-Claude Juncker. (Full Story)

"That was a solo number by the lady," Bild quoted a top Finance Ministry official as saying. "Merkel is letting them take her to the cleaners."

But Jaeger said Schaeuble had been aware of the meeting.

Bild's headline speculated: "Will the chancellor lose her most important minister?"

"For Schaeuble it's quite clear," the paper wrote. "The euro won't fail because of a 'Grexit' (Greek exit) but rather a softening of its rules. Wolfgang Schaeuble has nothing more to lose."

Schaeuble, one of Germany's most popular leaders, has high standing among conservative deputies already leery of rescue efforts for Greece, and has taken a firm stance against demands from Athens for more cash to avert a default.

He has clashed openly with Greek Finance Minister Yanis Varoufakis over his demands for debt relief. Jaeger said Varoufakis had asked for a meeting with Schaeuble in Berlin on Monday, but that Schaeuble would be away, and was instead trying to find time to meet Varoufakis on Tuesday. (Full Story)

Greece delayed repayment of an IMF loan on Friday, and a deputy minister said the government might call a snap election if its creditors did not soften their terms.

(FAZ) Are Merkel and Schäuble to each other at a distance?

Are Merkel and Schäuble to each other at a distance?
If the German Chancellor, and their most important ministers crosswise due to the debt dispute with Athens? A newspaper report suggests that. But maybe it's also very different.

Wolfgang Schäuble is more than just a number of ministers in the Cabinet Chancellor Angela Merkel. Formally he leads "only" the Ministry of Finance, in fact, he is with the direction in question before the euro policy and beyond. In the current debt dispute with Athens is striking that Schäuble - unlike his boss - and quite frankly undiplomatic the Greek left-wing government and particularly the Minister of Finance Giannis Varoufakis reads the riot act. It also includes a leakage of the damp country from the monetary union from expressly not (any longer).

This could of course be tactics. Schäuble as a kind of "Bad Cop" in this conflict, which consciously seeks the confrontation and the "Grexit" card plays out while Merkel shows more willingness to reach an agreement. In the Greek Government, it behaves quite similar: While Treasury Varoufakis examined the open confrontation and keeps his colleagues from the other euro countries sometimes talks about what the whole bailout policy suffers basically from his perspective, his chief Alexis Tsipras is to moderate.

"The 'Picture' report is nonsense"
But maybe it's also very different. Maybe it just crunches actually between the German chancellor and her key ministers. The "Bild" newspaper claims to have learned that Merkel had their Finance Ministers tips crisis meeting on Monday evening told at the chancellery in Berlin previously nothing. She consulted with French President Francois Hollande, European Commission chief Jean-Claude Juncker, ECB President Mario Draghi and IMF chief Christine Lagarde on the debt dispute. As a result of a coordinated between the various creditors compromise proposal has come out - with some concessions about what the budget consolidation terms (although here the more again slid down into recession Greek economic calculation seems to have been taken).

Schäuble again had just happened out of the meeting in advance and not from the Chancellor, but because he told them Lagarde, reports the "Bild" newspaper. And cites a consultant remained anonymous Schaeuble as saying (about Merkel): "That was a solo number from the lady." In addition, the officer had sent in Schäuble's Ministry directs it past ". Merkel can be drawn straight across the table"

It is not clear whether there are indeed large differences in content between Merkel and Schäuble and if so, what they look like. In the report, two examples are given in which represented both publicly same position: The International Monetary Fund must remain necessarily involved as strict supervisor. And a further haircut is taboo. This has not changed even after what is known about the new compromise paper of the creditor, nothing changed.

Supposedly going concerns about a serious rift between Merkel and Schäuble within the Union to the extent that some even fear Schäuble could withdraw. "Wolfgang Schäuble makes no false compromises, he will not compromise his credibility", the CSU politician Hans Michelbach of the "Bild" said. And added: "And without Schäuble does not agree the Group." That's a bold statement: That the discontent among the Unions deputies rather large and the enthusiasm, perhaps to adopt another rescue package for Hellas, is likely to be rather small, clear.

But whether they really own the Chancellor terminate in doubt allegiance? This is against the background that Merkel last year celebrated its 60th anniversary and alone could already compete on grounds of age for the next general election for a further term. Schäuble, however, is 73 years old in September - he is not only the longest-serving Minister Merkel, but now also the longest serving MP in the history of the Federal Republic.

"The 'Picture' report is nonsense," Reuters quoted a reaction in Berlin and appeals to government circles. Because Greece threatens no rift, thus said another government official. Possibly both follow Merkel as Schäuble, just yet merely continue a certain roles in the ongoing debt dispute with Athens.