>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: PBR -2.3%

M&A news: CGG -30% (Technip (TKPPY) informs the market that it does not intend to file a tender offer for CGG)

Select mining stocks trading lower: GDX -1.8%, HMY -1.8%, IAG -1.6%, GG -1.3%, SLV -1.2%, GLD -1%, AG -0.9%.

Other news: UPIP -30.7% (issues comment on the claim construction order in their pending case against Google (GOOG)), XCO -9.4% (announced that its Board of Directors has suspended the cash dividend to provide additional funds to reinvest into the Company), LXRX -5.9% (still checking, light volume), DRL -4% (received a letter from the FDIC directing the Bank to promptly resubmit its Capital Plan), SNE -3.3% (Nikkei traded nearly 2% lower overnight)

Analyst comments: PBF -0.9% (downgraded to Underperform from Neutral at BofA/Merrill), AVNR -0.5% (downgraded to Market Perform from Outperform at Cowen), F -0.5% (downgraded to Hold from Buy at Deutsche Bank)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: XENE +5.5%, HON +0.6%

M&A news: RBC +9.7% (merson has agreed to sell its Power Transmission Solutions business unit to Regal Beloit Corporation (RBC) for $1.44 bln), TLM +5.1% (cont M&A spec), PETM +4.7% (still checking), IRM +4.3% (confirms proposal to acquire Recall Holdings for A$7.00 per share by scheme of arrangement), AA +2% (to acquire TITAL to expand global growth platform for titanium aerospace components

Select oil/gas related names showing strength: OAS +5.8%, PTR +3.5%, STO +2%, RIG +1.9%, BAS +1.7%, OXY +1.1%, RDS.A +0.7%

Other news: FRO +13.3% (cont strength), CANF +7.4% (Second part of the Glaucoma Phase II study has been approved in a European country), KGJI +6.9% (announces termination of at market issuance sales agreement), RLYP +4.8% (announces FDA acceptance of New Drug Application for Patiromer for Oral Suspension to treat hyperkalemia), ABGB +4.4% (Signs power purchase agreement and secures financing of Xina Solar One), BEBE +3.8% (Jim Wiggett has been named CEO), RMTI +2.4% (favorable commentary on Friday's Mad Money), AHC +2% (closed on the sale of its former South Plant facility), RCL +1.6% (refinanced the Brilliance of the Seas by terminating the leasing of the ship under the 25-year operating lease originally entered into in July 2002 and acquiring the ship for a purchase price of ~$275 mln), AAL +1.6% (to be added to Nas 100), JRJC +1.6%, SUNE +1.6% (announced that the National Energy Commission in Chile has awarded SunEdison a contract to supply 570 gigawatt hours of clean energy a year), NOA +1.3% (announces ~1.77 mln share purchase program in the US ), CRAY +1.3% (awarded $30 mln contract from the Department of Defense High Performance Computing Modernization Program), BCRX +1.3% (initiation of a phase 1 clinical trial of BCX4430), ALXN +1.2% (announced that its Board has authorized a new share repurchase program of up to $500 mln)

Analyst comments: CRUS +6.2% (upgraded to Overweight from Underweight at Barclays), CY +3.4% (upgraded to Outperform from Neutral at Wedbush), NOW +2.8% (upgraded to Top Pick at RBC Capital Mkts), TWTR +2.6% (initiated with a Mkt Outperform at JMP Securities), FCAU +2.5% (upgraded to Neutral from Underperform at Exane BNP Paribas), ORCL +2.3% (upgraded to Overweight from Equal-Weight at Morgan Stanley), ECPG +2% (upgraded to Overweight from Neutral at Piper Jaffray), XOM +1.1% (upgraded to Market Perform from Underperform at BMO Capital Markets)

(BFW) LendingClub PT Boosted to $31 From $19, Buy Reiterated : BTIG

LendingClub PT Boosted to $31 From $19, Buy Reiterated : BTIG
2014-12-15 13:28:40.508 GMT


By Laura Kaster
(Bloomberg) -- LendingClub new $31 PT based on 0.8x FY16
est. loan originations of $13.7b, discounted back by 10%; $19 PT
was based on 15x FY18 est. adj. Ebitda, which was “overly
conservative,” BTIG analyst Mark Palmer writes in a note.
* $31 PT implies 26% upside from Friday’s $24.69 closing price
* Believes “significant” valuation premium warranted given
“remarkable” growth potential
* Sees LC likely using significant portion of est. $751m
balance-sheet cash to make accretive acquisitions
* LC up 1.9% premkt to $25.15 on 43k shrs
* NOTE: Dec. 11, LC Opens at $24.75/Shr, IPO Priced at $15
* NOTE: Tomorrow On Deck Capital sees pricing 10m-shr IPO at
$16-$18 via BofA, Deutsche Bank, Morgan Stanley

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

To contact the reporter on this story:
Laura Kaster in New York at +1-212-617-9604 or
lkaster2@bloomberg.net
To contact the editor responsible for this story:
Arie Shapira at +1-212-617-1488 or
ashapira3@bloomberg.net

>>> US Early premarket gappers

Early premarket gappers

Gapping up: GTXI +13.2%, FRO +12.4%, BTU +8.5%, SCSC +6.5%, TLM +5.8%, RMTI +5.4%, BAS +5.4%, CRUS +5%, OAS +4.6%, PETM +4.3%, NOW +2.8%, STO +2.6%, CY +2.6%, RIG +2%, MUX +1.8%, RCL +1.7%, JRJC +1.6%, TSLA +1.4%, XOM +1.4%, DB +1.4%, BBVA +1.4%, NOA +1.3%, AAL +1.3%, AKS +1.3%, SWKS +1.3%, NOK +1.3%, MT +1.3%, VOD +1.2%, GFI +1.2%, FCX +1.2%, RDS.A +1.1%, ARMH +1.1%, DEO +1.1%, DOW +1.1%, CELG +0.9%, CAT +0.9%, QEPM +0.5%

Gapping down: PHMD -7.3%, LXRX -5.9%, KGC -5.4%, DRL -4%, NQ -2.8%, SNE -2.3%, AZN -1.5%, IAG -1.2%, OXLC -0.8%, SLV -0.8%, GLD -0.8%, GDX -0.8%

Reuters - Green Mountain moves coffee buying to Switzerland, following rivals

Green Mountain moves coffee buying to Switzerland, following rivals


Dec 15 (Reuters) - Vermont-based coffee roaster and brewing technology maker Keurig Green Mountain will move most of its U.S. coffee buying operation to Switzerland, following rivals who have already moved to the global hub for commodities trading.

Moving purchasing from Vermont to French-speaking Lausanne, Switzerland, will establish the largest U.S. coffee retailer by value as a "global beverage player", a Green Mountain spokeswoman told Reuters.

This fall, Green Mountain formed a new corporate entity in Switzerland, called Keurig Trading GmbH. It expects to move a group of buyers currently in the United States to its new Swiss entity in Spring 2015, the spokeswoman said.

"The core of our green bean coffee procurement for our global manufacturing operations will take place in Switzerland," said the spokeswoman.

Procurement operations in Canada will not be affected.

With its favorable tax regime and convenient location for global trade, Switzerland is home to some of the world's biggest commodity merchants, including Glencore and Trafigura.

The spokeswoman would not comment on whether low taxes were a factor in the decision to move to Switzerland and would not provide "any forward-looking statements regarding impact to tax rates."

Other major coffee houses, including U.S.-based Mondelez International, Israel-based Strauss Coffee and Swiss-based Nestle have buying operations in Switzerland.

In Lausanne, in the canton of Vaud, Green Mountain will join Starbucks, which moved there more than a decade ago.

Starbucks is currently being investigated by the European Commission over a tax deal with the Netherlands related to its Swiss affiliate.

Green Mountain became the largest coffee retailer by value in the United States in 2013, leading JM Smucker Co, Starbucks and Kraft, according to data from market research firm Euromonitor.

Smucker, the maker of Folgers, remained the leader in sales volume, but Green Mountain led the industry in sales volume growth, at 33 percent.

The rising popularity of its single-serve K-Cup technology, bolstered by new licensing agreements with other brands, is helping it gain sales market share, market participants said.

Keurig Green Mountain shares have risen 80 percent so far this year and were trading at $136.28 by Friday's market close. In May, Coca Cola Co became the largest shareholder in the company, acquiring a 16 percent stake.

>>> Honeywell lowers Q4 rev guidance, reaffirms Q4 EPS; guides FY15 EPS ~in-line

Honeywell lowers Q4 rev guidance, reaffirms Q4 EPS; guides FY15 EPS ~in-line, rev below consensus

Co issues guidance for Q4 (Dec), reaffirms EPS of $1.37-1.42, excluding non-recurring items, vs. $1.43 Capital IQ Consensus; lowers Q4 (Dec) revs to $10.1-10.2 bln from $10.3-10.4 bln vs. $10.38 bln Capital IQ Consensus Estimate.

Co issues guidance for FY15 (Dec), sees EPS of $5.95-6.15, excluding non-recurring items, vs. $6.11 Capital IQ Consensus Estimate; sees FY15 (Dec) revs of $40.5-41.1 bln vs. $41.97 bln Capital IQ Consensus; organic sales up ~4%.

On track to achieving 2018 long-term targets

"We expect 2015 to be another strong year for Honeywell with across the board growth in sales, margin, EPS, and free cash flow," said Honeywell Chairman and CEO Dave Cote. "Our 2015 outlook tracks very well to the five year targets that we set for 2018 earlier this year. We sustained our 'seed planting' investments for the future, including innovating new products and technologies and expanding geographically, all of which will position the portfolio for continued growth. Similarly, we will use the gain on sale of B/E Aerospace shares in the fourth quarter to proactively fund Aerospace OEM incentives related to new platform wins. Our balanced portfolio mix of short- and long-cycle businesses, improving end markets, new product introductions, penetration in high-growth regions, and HOS Gold growth and productivity focus will all continue to drive Honeywell outperformance over the long term. While we're expecting only modest GDP growth in most regions around the world next year and will accordingly continue to be conservative in our cost and resource planning, our plan is to deliver higher organic growth, strong margin expansion, and double-digit earnings growth once again in 2015."

(BFW) *OI WILL USE PART OF PT SALE TO PAY FOR TIM: CEO

BN 12/15 11:44 *OI WILL USE PART OF PT SALE TO PAY FOR TIM: CEO
BN 12/15 11:43 *OI NOT IN RUSH TO FINISH CONSOLIDATION IN DEC./JAN.: CEO
BN 12/15 11:42 *OI CEO SAYS WITHOUT CO. THERE WON'T BE CONSOLIDATION IN BRAZIL
BN 12/15 11:42 *OI WORKING ON ALL M&A SCENARIOS POSSIBLE: CEO
BN 12/15 11:38 *OI HAS BIGGEST FIXED INFRASTRUCTURE IN BRAZIL: CEO
BN 12/15 11:38 *OI CEO SAYS NO HURRY FOR POSSIBLE CONSOLIDATION, NEEDS PLANNING
BN 12/15 11:37 *OI CEO SAYS CO. FOCUSED ON MIGRATING TO BOVESPA'S NOVO MERCADO
BN 12/15 11:37 *OI CEO SAYS CONSOLIDATION WOULD CONSIDER VALUE FOR STAKEHOLDERS
BN 12/15 11:36 *OI ABLE TO PARTICIPATE IN TELECOM INDUSTRY CONSOLIDATION: CEO
BN 12/15 11:34 *OI CEO BAYARD GONTIJO SPEAKS IN TELEPHONE INTERVIEW
BN 12/15 11:34 *OI IS EVOLVING IN ALL ASPECTS OF TURNAROUND PLAN
*OI WILL USE PART OF PT SALE TO PAY FOR TIM: CEO
2014-12-15 11:45:03.407 GMT

--BENJAMIN DOW

-0- Dec/15/2014 11:45 GMT