>>>> What to look at today - 12th of May 2015

Dow-0,47% S&P-0,51% Nasdaq-0,20% Russell+0,07%
US Market closed lower, even PBoC cut rate was not able to push market higher, concerns about Greece and 10y moved in the US...volume were below recent average @ 680mil shares...VIX was down 15% on Friday and up 7.3% yest. Energy sector wasx the only sector to loose more than 1%...US After Hours CHRS +29.5%, CALL +17.4%, WYY +15.4%, RARE -19.7%, LPSN -17.1%, RAX -12.9% following earnings/guidance...Pall Corp. (PLL US) +23%, Said to be near sale with final bids due within the week; May value company at $13B or more (vs $10.6B current market cap) Asian equities are mixed as investors digest rising pressure in global bond markets. The yield on the US 10-year has now topped 2.27% - the highest level of the year. Shanghai Composite is leading in the region with another 1% rise in the wake of the weekend PBoC rate cut. Japan's Nikkei225 is underperforming despite weaker JPY, as recent trouble at Toshiba and Sharp weigh on sentiment.

Nikkei -0.19% Hang Seng -0.32% Shanghai +0.91%

Eur$ 1.1175 GBP 1.5574 EURCHF 1.0429 JPY 120.25 RUB 50.90 WTI $59.18 (-0.10%)

S&P +0.07% EuroStoxx -0.05% Dax -0.18% SMI+0.06%


Macro :
- Varoufakis Says Liquidity in Greece Is ‘Terribly Urgent’ Issue
- Greece Fends Off ECB Reckoning With Signs of Eurogroup Progress
- Picasso Painting Sells for $179.4 Million; Sets Auction Record

Keep an eye on :
- ABI BB : AB InBev Spends EU165.6m Buying Back 1.54m Shares May 4-8
- AB1 GY : Air Berlin 1Q Net Loss EU210.1m vs Loss EU209.8m Y/y
- AC FP : Airbnb Grows to a Million Rooms, and Hotel Rivals Are Quiet, for Now - NYT http://nyti.ms/1KDddUU
- ALO FP : GE ‘Willing to Explore Remedies’ With EU on Alstom Deal: Bolze
- AGFB BB : Agfa-Gevaert Sees Adj. Ebitda Margin of Close to 10% for 2015
- ATC NA : Altice 1Q Rev. EU3.26b, Down 3.3%
- ALV GY : Allianz 1Q Operating Profit in Asset Management Drops 14%
- NDA GY : Aurubis Confirms FY Forecast; Expects High Refining Charges
- CARLB DC : Carlsberg 1Q Ebit Ex-Items Beats Ests., Keeps 2015 Forecast
- CIE SM : Cie Automotive 1Q Net EU31.1m Vs EU19.4m Year Earlier
- CWC GY : Cewe 1Q Sales Rise 4%, Loss Narrows; Confirms 2015 Outlook
- CLN VX : Clariant has not held takeover talks, no offers or contact from suitors received - Basler Zeitung
- DECB BB : Deceuninck 1Q Rev. EU136.2m; Est. EU133.1m; Sees Higher FY Net
- DUE GY : Duerr 1Q Ebit EU47.4m vs EU44.2m; Confirms Forecast
- DPW GY : Deutsche Post 1Q Ebit Misses Est., Forecast Confirmed
- FGR FP : Eiffage 1Q Rev. EU3.04b; Est. EU2.91b
- EVT GY : Evotec 1Q Net Loss EU1.07m vs EU4m Loss; Raises Sales Forecast
- GLPG NA : Galapagos Increases Offering Size to 6.03m Shrs
- GSK LN : Glaxo disclosure of purchasing another 85K shares today at $16/shr, adding to its existing 31.8M share (27.2%) stake in THRX
- HEN3 GY : Henkel to Buy Colgate Australian Laundry Brands for EU220m
- IDR SM : Indra 1Q Net Loss EU20M, Compares with Est. Profit EU17.2M, 1Q Results Well Below Expectations, UBS
- IM NA : Imtech Confirms FY Ebitda Outlook, CEO to Retire at Year-End
- JEN GY : Jenoptik 1Q Rev. Rises 6.5%, Profit Up 8%, Confirms Forecast
- KBC BB : KBC Groep 1Q Net of EU510m Beats Ests. on Fees, Loan Impairment
- SDF GY : K+S 1Q Ebit I EU316.7m, Est. EU309.5m; Raises 2015 Rev. Forecast
- SKB GY : Koenig & Bauer 1Q Earnings Behind Target, Confirms 2015 Forecast
- LEO GY : Leoni Confirms FY Forecast
- MC FP : Moncler, LVMH to Bid in Milan Tender for Galleria Spaces: Sole
- MAN GY : Volkswagen to Break Up MAN, Frankfurter Allgemeine Zeitung Says
- M5Z GY : Manz 1Q Order Intake Low, Sales Didn’t Fully Meet Co. Forecast
- MDG1 GY : Medigene 1Q Rev. Falls, Losses Widen; Veregen Royalties Increase
- MLP GY : MLP 1Q Ebit EU7.0m vs EU3.4m; Sticks to Outlook
- MGN GY : Mologen 1Q Ebit Loss EU3.2m vs EU4.1m Loss; Maintains Outlook
- MONC IM : Moncler, LVMH to Bid in Milan Tender for Galleria Spaces: Sole
- PSPN SW : PSP Swiss 1Q Rental Income CHF68.2m; Confirms 2015 Forecast
- RDSB LN : US govt has provided conditional approval to its 2015 Artic drilling plans - press
- RGU LN : Regus CEO Dixon Selling 30m Shrs, Reducing Stake to 31.4%
- SAFT FP : Saft Announces contract with Vossloh to supply batteries for tram trains in UK
- SAHN SW : Schaffner 1H Net Sales CHF102.5m; Sees Ebit Margin of ~5%
- STL NO : Statoil Names Hans Jacob Hegge New EVP & CFO
- TLGO SM : Talgo 1Q Net Income Rises 67 Percent to EU8.52 Million
- TKA GY : ThyssenKrupp 2Q14/15 Adj. EBIT Beats Estimates; Forecast Raised
- TUI1 GY : TUI to Create Regional Entities in Revamp, Handelsblatt Says
- VOW3 GY : Volkswagen split-up of MAN could pave way for selling diesel motor business - Boersen-Zeitung
- YOOX IM : Yoox 1Q Sales, Ebitda Meet Ests.

>>> Europe : Brokers Upgrades & Downgrades - 12th of May 2015

>>> Up
*KONINKLIJKE AHOLD RAISED TO NEUTRAL AT MACQUARIE
*AHOLD RAISED TO HOLD, DELHAIZE RAISED TO BUY AT JEFFERIES
*GREENE KING RAISED TO OVERWEIGHT VS NEUTRAL AT JPMORGAN
*INCHCAPE RAISED TO BUY VS NEUTRAL AT UBS
*SYNGENTA RAISED TO MARKET PERFORM VS UNDERPERFORM AT BERNSTEIN
*THOMAS COOK RAISED TO OUTPERFORM VS NEUTRAL AT CREDIT SUISSE
*YOUNG & CO.'S BREWERY RAISED TO OVERWEIGHT VS NEUTRAL: JPMORGAN

>>> Down
*EUROCASH CUT TO NEUTRAL AT JPMORGAN
*HELLENIC PETROLEUM CUT TO HOLD VS BUY AT SOCGEN
*STANDARD CHARTERED CUT TO UNDERPERFORM AT MACQUARIE, PT HK$100

>>> PT change


>>> Initiation
*DASSAULT AVIATION RATED NEW BUY AT DEUTSCHE BANK
*SHAWBROOK GROUP RATED NEW BUY AT GOLDMAN, PT 380P

>>> Call

NYT - Airbnb Grows to a Million Rooms, and Hotel Rivals Are Quiet, for Now

http://nyti.ms/1KDddUU

Airbnb Grows to a Million Rooms, and Hotel Rivals Are Quiet, for Now

By any measure, Airbnb’s growth has been stunning since the company was founded in 2008. It now has more than a million rooms available in homes, apartments and even former barns — more places to sleep than hotel giants like Marriott and Hilton.

Despite this growth, though, the big hotel chains, at least outwardly, have yet to take substantial action to counter the potential threat from the upstart lodging service.

One reason is the strength of the travel market over all. Spending on hotels this year is projected to be even higher than last year’s robust outlays, according to Douglas Quinby, an analyst for Phocuswright. Other reasons include the ingrained habits of travelers, particularly older ones and business travelers on expense accounts, who see no reason to change their ways.


Steve Joyce, the chief executive of Choice Hotels International, which serves many bargain-hunting travelers, said recently that his brands, which include Comfort Inn, Sleep Inn and Econolodge, had not seen any effect from Airbnb and all were expecting strong summer sales.

Kerry Ranson, chairman of the InterContinental Hotels Group Owners Association, said he did not see Airbnb as a threat or as a competitor. “It’s a short-term online rental,” he said.

But there are signs that Airbnb is making inroads with business travelers, a critical group of customers to the hotel industry. Last summer, Airbnb entered the corporate market, teaming with Concur, an expense management company, to allow Airbnb charges to appear directly on a traveler’s expense form. Airbnb now reports that just under 10 percent of its guests are traveling on business.

Mike Oshins, a hospitality management professor at Boston University, said that travelers working for themselves or small companies were the most likely professionals to use Airbnb.

“They don’t need the concierge and room service,” he said. “They just want to save money.”

Kisha Mays, the chief executive of Just Fearless, a business development company serving female entrepreneurs, often travels outside the United States and prefers Airbnb to hotels. Along with the lower price, she appreciates being able to wash a few items of clothing or eat dinner without going out to a restaurant. “I want to feel like I am at home instead of in some bleak hotel room,” she said.

Other business travelers use Airbnb to find lodging when big trade shows have filled city hotel rooms.

There is evidence that the greater room supply created by Airbnb has helped restrain prices that traditional hotels can charge in some markets.

In Austin, Tex., each 10 percent increase in Airbnb listings resulted in a 0.35 percent decrease in monthly hotel room revenue, according to a study by Boston University. Less expensive hotels and those focused on leisure travelers were most affected when Airbnb developed in their area, the study found.

And in New York, there is a similar dynamic.

Hotel room price growth in New York has lagged historical levels during the economic upturn, according to research by Sean Hennessey of New York University’s Tisch Center for Hospitality and Tourism. While some of that is because of the increase of hotel construction and number of available rooms, he said, hoteliers also cite the advent of a “shadow inventory” including Airbnb and others as a reason for the price stagnation.


They may not cite Airbnb as a direct competitor, but hotels are taking some actions as the service grows more popular. Hospitality industry representatives are asking for laws requiring Airbnb properties to adhere to the same safety standards that hotels do. Airbnb said it required hosts to follow their local laws and encouraged all hosts to take some basic steps to keep their homes safe.

Some small hotels are joining the service themselves. When the Box House Hotel in Brooklyn opened in 2011, it listed rooms on Airbnb along with booking.com and other websites. “It’s another way for people to find out about us,” said Jenneka Hernandez, the general manager. The 57-room hotel lists only its least expensive rooms on the site, “because that is what Airbnb customers are looking for,” she said.

The eight-room Drift San Jose in Baja California in Mexico books all its reservations through Airbnb, which allows the property to keep its costs down.

“We don’t need a front desk or even a credit card machine,” said Stu Waddell, the owner of the hotel.

Grace Bay Resorts on Turks and Caicos lists luxury beachfront rental homes on Airbnb to “reach a different market than those of the resort’s typical guests,” said Nikheel Advani, its chief operating officer.

Marissa Coughlin, a spokeswoman for Airbnb, said the company had no official partnerships with any hotels, but did not prohibit them from listing rooms on the site.

At the same time, traditional hotels still enjoy the loyalty of older travelers, said Glenn Haussman, editor in chief of Hotel Interactive.

“Older travelers as well as business travelers whose companies are paying for the stay generally want the predictability, the services and the comfort of a hotel,” he said.

Hotels also still offer benefits that Airbnb does not, like loyalty points, and are designed to help guests connect with others at a conference or network in the hotel lobby or bar.

“I do believe people will sample the service,” Mr. Haussman said, “but converting masses of people permanently is a very tough task.”

At least one hotel group sees Airbnb as expanding the market.

“Our belief is that lodging rental websites are stimulating demand, rather than displacing existing demand,” said Ian Carter, the Hilton hotel chain’s president of development, while noting that Hilton Worldwide served a record number of guests, 140 million, last year.

Still, many analysts and industry experts see trouble ahead for established chains if they do not treat Airbnb as a competitor. “They certainly should,” Mr. Quinby said.

>>> Volkswagen split-up of MAN could pave way for selling diesel motor business

Volkswagen split-up of MAN could pave way for selling diesel motor business 

Volkswagen (VW), the listed German vehicle maker, has decided to split its subsidiary MAN in a move that may pave the way for a partial sale, Boersen-Zeitung reported.

The German-language daily cited unidentified sources as saying that a sale of the highly profitable diesel motor business may be in the works. They said the planned separation of commercial vehicle and motor operations could be a preparation for such a divestment.

According to unconfirmed information in the report, Volkswagen is splitting up MAN, its truck and machine group, transferring its truck and bus production into a holding founded by VW, named Truck & Bus. Meanwhile, the diesel motor business and the engine maker Renk will find a new home under the roof of the VW group, according to the information in the report.

Under the umbrella of Truck & Bus, VW intends to gather together its truck making brands MAN and Scania, according to the report.


Boersen-Zeitung

>>> Clariant has not held takeover talks, no offers or contact from suitors rece

Clariant has not held takeover talks, no offers or contact from suitors received

Clariant, the Switzerland-based listed chemicals company, has not received a takeover offer, Basler Zeitung reported. Asked if he has received an offer or been contacted, Clariant Chief Executive Hariolf Kottmann told the Swiss daily he has not received an offer and has not been contacted. Kottmann said there have been no talks regarding a merger or sale of the company and there would not be in the future. Clariant has an attractive portfolio which is tempting for other companies and speculation can be considered a compliment, Kottmann told the paper.

The original article appeared in print: Page 31

Basler Zeitung

(BN) Picasso Painting Sells for $179.4 Million; Sets Auction Record

Picasso Painting Sells for $179.4 Million; Sets Auction Record
2015-05-11 23:39:13.585 GMT


By Katya Kazakina
(Bloomberg) -- Pablo Picasso’s “Les Femmes d’Alger
(Version ‘‘O’’)” sold for $179.4 million, setting a record for
any artwork sold at auction.
The price for the painting, sold Monday at Christie’s in
New York, breaks the record held by Francis Bacon’s $142.4
million triptych since November 2013. The auction house had
valued the Picasso at $140 million, the highest presale target
of any work. The sale price includes commission.
Depicting a group of courtesans, the Picasso painting is
based on Eugene Delacroix’s work of a similar title. Picasso
explored the theme through a group of 15 paintings, designating
the versions from A to O.
The auction house’s special evening sale of 20th century
art called “Looking Forward to the Past” is continuing.

For Related News and Information:
Want to Avoid U.S. Taxes on $80 Million Warhol? Buy More Art
Art Degree Not Needed: New Sotheby’s CEO Offers Technology Savvy

To contact the reporter on this story:
Katya Kazakina in New York at +1-212-617-4837 or
kkazakina@bloomberg.net
To contact the editors responsible for this story:
Christian Baumgaertel at +1-617-210-4624 or
cbaumgaertel@bloomberg.net
Mary Romano, Josh Friedman

(BFW) Volkswagen to Break Up MAN, Frankfurter Allgemeine Zeitung Says

Volkswagen to Break Up MAN, Frankfurter Allgemeine Zeitung Says
2015-05-11 18:00:00.4 GMT


By Richard Weiss
(Bloomberg) -- VW will move MAN’s truck and bus units,
including MAN Latin America, into newly founded Holding Truck &
Bus GmbH that will also include businesses of Scania, while
diesel engines business and Renk will be moved to VW,
Frankfurter Allgemeine Zeitung says, citing people familiar with
the plan.
* Andreas Renschler informed employees on Monday: FAZ
* MAN remains a separate legal entity listed on stock
exchange, while it will have no more operating units
* NOTE: Volkswagen Creates Truck Group to Push MAN, Scania
Cooperation

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

To contact the reporter on this story:
Richard Weiss in Frankfurt at +49-69-92041-287 or
rweiss5@bloomberg.net
To contact the editor responsible for this story:
Benedikt Kammel at +49-30-70010-6230 or
bkammel@bloomberg.net

(FFM) Allianz Most Exposed to Greece Amid Roller-Coaster Bailout Talks

Allianz Most Exposed to Greece Amid Roller-Coaster Bailout Talks
2015-05-11 15:56:23.486 GMT

By Bloomberg News

Allianz, parent of bond investor Pimco, is more exposed to Greece than any
other company required to disclose debt holdings as roller-coaster bailout
talks continue in Brussels, the latest filings show.

Bloomberg functions can analyze exposure to any country's debt and related
risks by tallying and cross referencing data from public filings across the
globe.

Type "Greece" in the command line and select '1004Z GA Equity' from auto
complete to load the country's ticker. Then type "aggregated debt" and select
'AGGD' or use the { 1004Z GA Equity AGGD <GO> } shortcut.

The European Central Bank holds by far the most Greek government debt, almost
33 percent. Second and fifth on the list of funds, money managers and banks
that file publicly are Pimco entities, with holdings totaling almost 1 billion
euros. 
Greek Debt Holders
To see which bonds Pimco Advisors held, click that row. Then look at which
Pimco funds how much of each bond, click on the row again. That screen reveals
the source filing and its date; most Pimco holdings are as of December. 

To find companies with direct and indirect Greek risk, type "bond search" and
select 'SRCH'. Click 'Asset Classes' in the 'Select Universe' section, check
the 'Consolidate Duplicate Bonds' box and click 'Update'. Now choose the "Ask
a question" option on the upper right and type "Greek risk" to show bonds with
Greece as the country of risk. Click 'Results' at bottom for a list that
includes sovereign, government, agency and corporate bonds from Greece.

Fixed Income Search: 'Ask a question'
Now group them by holders: Click the 'Matrix' tab atop the table and change
amber box beneath 'Rows' to 'Issuer Name' and click 'Apply' at the bottom.
Click on an issuer to see its bonds or on the 'Holders' tab to see exposed
creditors.
SRCH Results for Greek Risk by Issuer
The data are pulled from public filings, so the list doesn't include investors
not required disclose their holdings. The percentage of total debt held by the
public filers is listed to the right of '% Out' above the table: More than 22
percent.
The table shows Allianz has the most exposure after the ECB. 

For more information:
Pimco Says 30% to 40% Chance of Greek Default Priced In: { NSN
NO6ICT6TTDS6<GO> }

Greece Courts Creditors’ Blessing With ECB Funding at Stake: { NSN
NO6S5Z6KLVRF<GO> }

The Lessons for Greece’s Economy From 70 Currency Union Breakups: { NSN
NO6IW66VDKHS<GO> }

European Debt Crisis News: { EXT4 <GO> } or { TOP CRIS <GO> }

List of Creditors Exposed to Greek Risk from SRCH
To contact the editor of this { FFM<GO> } article:
Phil Kuntz, FFM News team leader: +1-212-617-5486 or  pkuntz1@bloomberg.net

To suggest ideas for Functions for the Market or provide feedback: 
ffmeditors@bloomberg.net
-0- May/11/2015 15:56 GMT

>>> Asian Update

Asian Mid-session Update: AUD recovers as Fitch sees no threat to AAA rating ahead of today's budget release


***Economic Data***
- (AU) AUSTRALIA MAR HOME LOANS M/M: 1.6% V 1.0%E; 3-month high
- (AU) AUSTRALIA MAR CREDIT CARD BALANCES: A$51.5B v A$51.1B PRIOR; CREDIT CARD PURCHASES: A$25.6B v A$22.1B PRIOR
- (AU) Australia ANZ Roy Morgan Weekly Consumer Confidence Index: 110.6 v 108.7 prior
- (NZ) New Zealand REINZ Apr House Price Index: v 4,340.9 prior; House Sales Y/Y: 27.6% v 20.3% prior
- (NZ) New Zealand APR ANZ Heavy Truckometer m/m: -0.6% v -0.4% prior
- (JP) JAPAN APR OFFICIAL RESERVE ASSETS: $1.25T V $1.25T PRIOR
- (UK) UK APR BRC SALES LFL Y/Y: -2.4% V 0.6%E; first decline in 4 months

***Index Snapshot (as of 02:30 GMT)***
- Nikkei225 -0.6%, S&P/ASX +0.4%, Kospi -0.2%, Shanghai Composite +1.0%, Hang Seng -0.1%, Jun S&P500 flat at 2,097

***Commodities/Fixed Income***
- Jun gold +0.1% at $1,183/oz, Jun crude oil -0.2% at $59.16/brl, May copper +0.2% at $2.92/lb
- (CN) NDRC raises gasoline price by CNY255/ton and diesel price by CNY245/ton (3rd consecutive rise) - financial press
- (CN) PBoC won't conduct open market operations (OMO) in today's session (7th consecutive halt)
- JGB: (JP) Japan MoF sells ¥2.19T in 0.4% (0.4% prior) 10-yr notes; Avg Yield: 0.434% v 0.369% prior; bid-to-cover: 2.24x (multi-year low) v 2.75x prior

***Market Focal Points/FX***
- Asian equities are mixed as investors digest rising pressure in global bond markets. The yield on the US 10-year has now topped 2.27% - the highest level of the year. Australia's 10-yr is yielding nearly 3%, up over 10bps from yesterday, and Japan's 10-year is now well above 0.4% after a disappointing 10-year auction that saw bid-to-cover fall to 6-year lows. Shanghai Composite is leading in the region with another 1% rise in the wake of the weekend PBoC rate cut. Japan's Nikkei225 is underperforming despite weaker JPY, as recent trouble at Toshiba and Sharp weigh on sentiment.

- In FX, AUD was among the more notable movers in an otherwise subdued trading session. AUD/USD recovered the $0.79 handle after the release of better than expected home loans data that could force the RBA to consider property bubble risks if (and when) it entertains further policy easing. Australia's Treasurer Hockey will also announce the annual FY15/16 budget later today, and has already indicated the budget will top market forecast for a deficit of A$40-41B. Separately, economist with Fitch stated Australia's AAA rating is not at risk, as the country's debt ratio would stay far below those of the US, UK or France for the foreseeable future despite the decline in key commodity prices. AUD extended its gains above $0.7920 after that report. In other USD majors, EUR/USD traded in a 30pip range around $1.1160, while USD/JPY was locked in a 15pip range above ¥120.

***Equities***
US equities / ADRs:
- PLL: Said to be near sale with final bids due within the week; May value company at $13B or more (vs $10.6B current market cap) - financial press; +23.8% afterhours
- MDR: Reports Q1 -$0.06 v -$0.08e, R$550.5M v $783Me; Discloses 1,675 layoffs recently (about 12% of workforce); +2.0% afterhours
- PRGO: Mylan Chairman said to sweeten offer by adding terms - financial press; +0.1% afterhours
- MTZ: Reports Q1 $0.07 v $0.18e, R$1.00B v $1.00Be; -6.8% afterhours
- RAX: Reports Q1 $0.20 v $0.20e, R$480M v $482Me; -13.0% afterhours

Notable movers by sector:
- Consumer discretionary: NH Foods Ltd 2282.JP -1.8% (FY14/15 results); Uni-President China Holdings 220.HK +2.7% (Q1 result)
- Financials: Mitsui Fudosan Co 8801.JP -1.6% (FY14/15 results); Fosun International 656.HK -1.7% (to raise capital); China Galaxy Securities 6881.HK +1.7% (April result); Ping An Insurance 601318.CN +0.6% (YTD premium income)
- Technology: AAC Technologies 2018.HK +4.1% (Q1 result)
- Industrial: Suzuki Motor Corp 7269.JP +5.0% (FY14/15 results); NSK Ltd 6471.JP +2.2% (FY14/15 results); Bridgestone Corp 5108.JP -4.4% (Q1 results); CSR Ltd CSR.AU +7.1% (FY14 results); Orica Ltd ORI.AU +2.8% (H1 results)
- Telecom: Softbank Corp 9984.JP -1.1% (FY14/15 results)

>>> After Hours Summary: CHRS +29.5%, CALL +17.4%, WYY +15.4%, RARE

After Hours Summary: CHRS +29.5%, CALL +17.4%, WYY +15.4%, RARE -19.7%, LPSN -17.1%, RAX -12.9% following earnings/guidance

After Hours Gainers:

Companies trading higher in after hours in reaction to earnings: CHRS +29.5%, CALL +17.4%, WYY +15.4%, PRSC +12.4%, VRTU +9.1%, ORIG +7.8%, PLAB +6%, EVDY +5.7%, NSPH +5.1%, PRKR +4.4%, SCLN +4.3%, XON +4.2%, CPRX +3.5%, ARNA +3.1%, PFSW +3%, USAT +2.8%, OPHT +2.5%, PRTS +1.5%, JUNO +1.4%, CYTX +1.3%, TCRD +1.3%, OMER +0.9%, SCAI +0.8%, PINC +0.4%, CIM +0.4%

Companies trading higher in after hours in reaction to news: EOX +8.5% (entered into definitive agreement to acquire core Delaware Basin acreage in Lea and Eddy Counties, New Mexico for $75.2 mln; increases FY15 production and CapEx guidance), NAVB +4.6% (secured $60 Million loan with CRG; funding to support Lymphoseek commercialization and advancement of development pipeline), ARNA +3.1% (co and Roivant Sciences enter into collaboration for nelotanserin, a novel inverse agonist of the 5-HT2A receptor; co also reported earnings), HK +3.1% (Franklin Resources disclosed 13.5% passive stake in 13G filing), CDK +2.5% (Elliott Associates disclosed 7.6% active stake in 13D filing)

After Hours Losers:

Companies trading lower in after hours in reaction to earnings: RARE -19.7%, LPSN -17.1%, ATHX -13%, RAX -12.9%, CLNE -11.2%, DEPO -9.1%, UNIS -7.6%, IPXL -7.3%, MTZ -6.7%, SYN -5.8%, AKAO -5.3%, ARWR -4%, DRYS -4%, LDR -3.9%, OME -3.4%, JOBS -3.3%, OVAS -2.9%, PBYI -2.5%, ZGNX -2.2%, PVA -1.8%, OPK -1.8%, DRNA -1.6%, MDR -1.6%, MBI -1.1%, TWER -1.1%, MR -1.1%, TEP -1%, GBDC -0.9%, FXEN -0.9%

Companies trading lower in after hours in reaction to news: NOR -18.7% (announced a 22.84 mln share, secondary common stock offering, by selling stockholders affiliated with Apollo Global Management), NLNK -18.2% (co's IMPRESS Phase 3 pancreatic cancer trial with Algenpantucel-L to continue following second interim analysis), XONE -2.7% (reported a delay in filing its form 10-Q for Quarter ending March, 2015), CUBI -0.8% (priced its 2 mln share, fixed-to-floating rate non-cumulative perpetual preferred stock, series C at $25/share)