Down trend break up not validated, and don'ty think he will be today...
P&G is reviewing a regional ad account, which is currently split between Starcom MediaVest Group's MediaVest and Dentsu Aegis's Carat - Adweek
- P&G, the biggest ad spending in the US, is looking to cut costs.
--> Dentsu was +13% on numbers today
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Austria’s Bawag Said to Eye Deutsche Bank’s Postbank, Welt Says 2015-05-15 13:09:03.11 GMT
By Alexander Weber (Bloomberg) -- Austria’s Bawag PSK Bank expressed interest in buying Postbank from Deutsche Bank, Die Welt reports, citing people familiar with the matter. * Cos. have similar business model, which could lead to significant synergies: Welt * Deutsche said to favor Bawag as buyer over bigger competitors like Santander: Welt * Bawag has total assets of ~EU35b, Postbank has ~EU155b * Bawag declines to comment on Postbank to Die Welt * NOTE: Goldman, Lazard, Morgan Stanley Picked to Sell Bawag Stake: CFO * NOTE: Bawag IPO ‘Not a Likely Alternative,’ Board Member Says * NOTE: Deutsche Bank plans to sell Postbank stake by end-2016
For Related News and Information: First Word scrolling panel: FIRST<GO> First Word newswire: NH BFW<GO>
To contact the reporter on this story: Alexander Weber in Vienna at +43-1-513-2660-13 or aweber45@bloomberg.net To contact the editor responsible for this story: Mariajose Vera at +49-89-244478-803 or mvera1@bloomberg.net
Gapping down In reaction to disappointing earnings/guidance: LOCO -14%, ZBB -13%, KING -8.6%, CRTN -7.3%, GMCR -5.7%, WLDN -5.1%, ANET -4.5%, MARA -4.4%, EXP -4.2%, WB -3.9%, GV -3.6%, DAR -3.5%, DDS -3.5%, CLDN -3.4%, HGG -3.2%, SYMC -2.5%, SEE -2.2%, EVK -1.8%, VCEL -1.8%, PRTY -1.1%, HTZ -0.9%
Select metals/mining stocks trading lower with underlying commodity down ~1%: AU -4.7%, HMY -1.2%, GDX -1.2%, GG -0.9%, ABX -0.8%, GOLD -0.7%
Select oil/gas related names showing early weakness: RIG -1.2%, RDS.A -0.9%, SDRL -0.9%, TOT -0.8%, BP -0.8%
Other news: PAYC -7.1% ( files for offering of common stock for selling shareholders), GMCR -5.6% (following conference call - Keurig Kold investor presentation ), SYT -3.7% (cont vol surrounding M&A spec), NBG -3.4% (cont uncertainty in Greece), UGI -2.3% (announced plans to build an LNG plant in Wyoming County, PA, expecting a total capital investment of ~$60 million), LMRK -2% (announces an upsizing of its public offering to 3 mln units from 2.5 mln, with a price of $16.75/share), IPWR -1.1% (plans to offer shares of its common stock in an underwritten public offering), HCP -1.1% (priced its offering of $750 mln of 4.00% senior unsecured notes due 2025)
Analyst comments: CLVS -2% (downgraded to Neutral from Overweight at Piper Jaffray), DE -1.9% (downgraded to Underweight from Neutral at JP Morgan), MMYT -1.1% (target lowered at Oppenheimer)
Gapping up In reaction to strong earnings/guidance: SANW +13.3%, QKLS +9.7%, EMAN +8.7%, UPLD +8.2%, ISNS +5.2%, ONTX +5.1%, SINA +1.4%, GLOB +1.3%, ENSV +0.6%, AMGN +0.5%, HOLI +0.5%
M&A news: BAGR +13% (Diversified Restaurant Holdings to acquire eighteen Buffalo Wild Wings restaurants (BWLD) for $54 mln), SZMK +5.1% (acquires mobile advertising demand side platform, StrikeAd; co also reported earnings)
Other news: DRWI +12.2% (announced it has signed a supply agreement for DragonWave microwave radio systems and related services with a leading Indian telecommunications company), TCON +10.6% ( announces that TRC105 has received FDA fast track designation), PTX +8.4% (announces FDA approval for TREXIMET, to treat pediatric patients with acute migraines), UPLD +8.2% (announced $60 mln credit facility for acquisitions; co also reported earnings), ESI +5.5% (discloses confirmation of SEC complaint against it and various of its officers, issues further response), BDSI +4.9% (BioDelivery Sciences and Endo Pharma (ENDP) present pivotal data from two Phase 3 trials demonstrating safety and efficacy of Buprenorphine HCl Buccal Film; Statistically significant percentage of patients on BEMA buprenorphine experienced pain reductions of greater than 30% vs placebo ), YOKU +4.6% (cont strength), NRZ +4.1% (increased quarterly dividend to $0.45/share from $0.38/share), FRO +3.9% (still checking), AMCC +2.7% (Kingdom Ridge Capital discloses 9.85% active stake in 13D filing; Christopher Zepf to join Board), NFLX +2.5% (WSJ details news that Netflix is in discusses to bring content to China), GLUU +1.9% (rebounding following yday's decline), SSE +1.5% (announced entrance into $100 mln in junior lien financing under its term loan facility with BlueMeridian Capital), SHPG +1.5% (cont strength), MOS +1.4% (announces authorization for a new $1.5 billion share repurchase program, and increases its quarterly dividend to $0.275 from $0.25/share ), EBAY +1.1% (eBay names Board of Directors for eBay and PayPal following separation), HMHC +1% (prices 10,575,300 shares of its common stock at $23.00 per share; shares offered by selling shareholders), OIBR +1% (issues response to reports it has retained Credit Suisse to sell its call centers, which employ 11% of its entire workforce), RMD +1% (agreed to sell mute snoring and sleep technology online)
Analyst comments: ADXS +5.7% (initiated with a Buy at Janney and Jefferies), MT +3% (upgraded to Buy at BofA/Merrill), INOV +2.6% (upgraded to Buy from Neutral at Goldman), DEG +2.1% (upgraded to Buy at Rabobank), UPS +1% (upgraded to Buy from Neutral at Goldman), YUM +0.9% (upgraded to Overweight from Neutral at JP Morgan)
Rumours from Betaville, a financial blog created by Ben Harrington, mentions that
Evonik actually approached DSM last week with an indicative offer of around EURO 60 a share.
My views:
1. I have met Ben Harrington before. I know he has good sources and while he may not get his stories proved right all the time, I believe he does check stuff before going to print
2. DSM is Dutch registered whcih means that a bid would have to be friendly or DSM could play the stichting card to block a bid (like what happened to Slim when he tried to get KPN)
3. In the UK abrupt share price movements , in theory , trigger a disclosure by the company. Abrupt means 10pct above lowest share price or 5pct in the course of a single day.
4. In Holland however such rule is not clear cut and I do not believe DSM will be required to disclose based on share price movement. In continental jurisdictions the bar to get a company to disclose or respond to rumours is factual . Meaning that the company is required to validate a rumour only if the rumour is considered a leak by the company themselves. Further, even in the UK, the day price movement rule of 5pct has gaps. For example the rumour of takeover approach for Dana Petroleum in 2010, moved the price on the day by 9pct and there was no company disclosure for 7 days because the company was not “actively considering” a merger.
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Sika Founders Get Personal in Takeover Battle (Correct) 2015-05-15 11:52:41.742 GMT
(Corrects to say board in first paragraph.)
By Zoe Schneeweiss and Andrew Noël (Bloomberg) -- The Burkard family, custodians of Swiss adhesives-maker Sika AG for more than 100 years, is suing three members of the board as they get personal in their fight to overcome resistance to their proposed sale of a controlling stake to Cie. de Saint-Gobain SA. Suits have been filed against Monika Ribar, Christoph Tobler and Ulrich Suter at courts local to where they live, with the family alleging they spent a “disproportionate” amount of money to fight the 2.7 billion francs ($3.1 billion) sale, the family’s spokesman Andreas Durisch said by phone. The family’s investment vehicle, Schenker-Winkler Holding, is considering additional lawsuits against other board members, Durisch said. The sudden decision by descendants of Sika founder Kasper Winkler to exit has spawned a deepening battle inside courtrooms and the media. It’s taking an increasingly acrimonious tone, with multiple actions between the family and Saint-Gobain on one side, and Sika management and high profile shareholders including Threadneedle Investments on the other. “This is about a legal question, but the board went much further and involved investment banks and started a PR campaign,” Durisch said. Sika’s management, led by Chairman Paul Haelg and Chief Executive Officer Jen Jenisch, along with minority investors left out of the deal, have taken umbrage at the transaction that would hand French glassmaker Saint-Gobain control of a competitor with just a 16 percent stake. They restricted the voting rights of the family from 52 percent to just 5 percent on key decisions. Outside of the courts, the next flash point will be an extraordinary shareholders’ meeting to be held in July, at the request of the Burkards. Urs Burkard struggled to win over the crowd at the annual meeting in April as he stood on the podium defending the family’s right to do what they want with their own stake. The Burkards did get to use their voting clout to stop the salaries of board members.
For Related News and Information: Sika Founders Will Stick to Plan to Sell Stake to Saint-Gobain Sika Drops in Legal Hangover From Investor Battle Over Takeover Sika Shackles Founding Family to Hinder Saint-Gobain Offer Top Stories: TOP <GO> For industrial news in Europe:TNI MAC EUROPE <GO>
To contact the reporters on this story: Zoe Schneeweiss in Zurich at +41-44-2244146 or zschneeweiss@bloomberg.net; Andrew Noël in London at +44-20-3525-2304 or anoel@bloomberg.net To contact the editors responsible for this story: Simon Thiel at +44-20-3525-2814 or sthiel1@bloomberg.net John Bowker
Early premarket gappers
Gapping up: QKLS +19.4%, SANW +13.3%, BAGR +13%, TCON +10.6%, EMAN +8.7%, UPLD +8.2%, UPLD +8.2%, ESI +5.5%, ISNS +5.2%, SZMK +5.1%, ONTX +5.1%, SZMK +5.1%, BDSI +4.9%, FRO +4.3%, YOKU +4.2%, NRZ +4.1%, MT +3.2%, AMCC +2.7%, NFLX +2.6%, SSE +1.5%, SHPG +1.5%, MOS +1.4%, JWN +1.4%, SINA +1.4%, GLOB +1.3%, UPS +1.2%, GLUU +1.2%, CCL +1.1%, EBAY +1.1%, ALU +1.1%, VALE +1%
Gapping down: ZBB -13%, LOCO -12.3%, KING -8.1%, CRTN -7.3%, PAYC -5.7%, GMCR -5.4%, WLDN -5.1%, ANET -4.5%, MARA -4.4%, EXP -4.2%, GV -4.2%, NBG -4.1%, WB -3.9%, DAR -3.5%, DDS -3.5%, CLDN -3.4%, AU -3.2%, HGG -3.2%, SYMC -2.5%, UGI -2.3%, SEE -2.2%, EVK -1.8%, VCEL -1.8%, CS -1.6%, HMY -1.2%, ABX -1.2%, MMYT -1.1%, IPWR -1.1%, HCP -1.1%, AZN -1.1%, RIG -1.1%, PRTY -1.1%, GDX -1%, GOLD -0.9%, GG -0.9%, HTZ -0.9%
Royal DSM's board, though, met this week and rebuffed the approach from Evonik, so it's not clear what will happen next.
am hearing acquisition-hungry Evonik Industries has shifted its gaze from Swiss rival Clariant back to Royal DSM, the Netherlands-based chemicals group.
In March, the Financial Times revealed that Evonik was considering a deal that would create a speciality chemicals company with a market value of about EURO 20 billion.
{http://betaville123.blogspot.co.uk/2015/05/rare-alert-evonik-said-to-have.htm
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Julius Bär: action en forte hausse, nouvelles rumeurs de rachat 2015-05-15 09:39:37.587 GMT
Julius Bär: action en forte hausse, nouvelles rumeurs de rachat évoquées
Zurich (awp) -- L'action Julius Bär était en forte hausse vendredi matin, sans nouvelles spécifiques de la part du gestionnaire de fortune. Les intervenants évoquent diverses rumeurs de rachat, un courtier indiquant qu'elles s'étaient déjà propagées parmi les professionnels de la branche. Vers 11h10, la nominative Julius Bär s'adjugeait 3,8% à 50,75 CHF, après avoir atteint 51,20 CHF un peu plus tôt. Le volume de titres négociés jusqu'ici est élevé, 457'000, contre un volume journalier moyen de 580'000. Le marché global (SMI) progressait pour sa part de 1,4%. Un autre courtier a rappelé les propos du directeur général (CEO) de la banque italienne Intesa Sanpaolo, Carlo Messina, dans une interview accordée mercredi à l'agence Bloomberg. Ce dernier avait mentionné son intérêt pour le rachat d'une banque privée active au niveau international. Au début de la semaine, Intesa Sanpaolo avait annoncé le doublement de ses bénéfices au premier trimestre 2015. Ces spéculations de reprise de Julius Bär font suite à celles d'avril. Le repreneur pressenti était alors Credit Suisse, qui venait de changer de direction. Le CEO de Julius Bär, Boris Collardi, avait alors démenti les rumeurs dans une interview. Le gestionnaire de fortune présente mardi prochain ses résultats intermédiaires pour les quatre premiers mois de l'année. Les analystes de Morgan Stanley ont ajusté leurs prévisions et relevé vendredi l'objectif de cours pour le titre à 48 CHF, contre 44 précédemment, maintenant toutefois leur recommandation "equal weight". tp/cp/buc/fr
-0- May/15/2015 09:39 GMT