>>> US Gapping down

Gapping down
In reaction to disappointing earnings/guidance: CTSO -41.2%, UTIW -13.7%, CRS -6.4%, SNX -5.3%, RKT -5.1%, HOTR -2.9%, VUZI -1.4%, MON -0.8%, BGCP -0.6%

M&A news: MAC -5.1% (unanimously rejects revised, unsolicited proposal from Simon Property Group)

Other news: HKTV -16.4% (issues statement in response to report by Asia Television Limited regarding the possible involvement of Hong Kong Television Network Limited in ATV), AKAO -9.8% (following co's webcast yday), BCRX -7% (following peer DYAX study results), CTP -4.9% (filed to delay Form 10-K; Sylvain Dhenin to assume role of CEO immediately following the filing), CHRS -3.9% (prices 4,137,931 shares of its common stock at $29.00 per share), NBG -3.1% (cont uncertaintly in Greece), JPST -2.7% (Handy & Harman (HNH) extends tender offer for shares of JPST until April 17 due to continuing discussions with the company), BEL -2.4% (disclosed that Filip Boyen has resigned as Chief Operating Officer effective immediately), MYL -1.6% (prices 35,000,000 ordinary shares held by certain subsidiaries of Abbott Laboratories (ABT), at $58.35 per share), BURL -0.9% (Burlington Stores announces that affiliates of Bain Capital Partners, LLC and certain other stockholders intend to offer 12,490,154 shares of the Company's common stock in an underwritten public offering), CGI -0.8% (filed for $250 mln mixed securities shelf offering)

Analyst comments: ONNN -4.2% (downgraded to Sell from Neutral at Goldman), PIR -2.9% (downgraded to Underweight from Equal-Weight at Morgan Stanley), SBGL -2.5% (downgraded to Sell at Deutsche Bank), AAL -2.4% (downgraded to Hold from Buy at Deutsche Bank), UAL -2.3% (downgraded to Hold from Buy at Deutsche Bank), KORS -2.2% (downgraded to Neutral from Overweight at Piper Jaffray), DAL -2% (downgraded to Hold from Buy at Deutsche Bank), AMCX -1.6% (downgraded to Hold from Buy at Evercore ISI), UHS -1.5% (downgraded to Underperform from Neutral at Sterne Agee), MCC -1.5% (downgraded to Neutral at UBS), VALE -0.9% (downgraded to Underperform at Santander)

>>> US Gapping up

Gapping up
In reaction to strong earnings/guidance: IKGH +20.5%, SLTD +7.2%, FSI +3.9%, RIBT +0.5%, RGSE +0.4%

Select EU notables showing strength: CS +2.7%, BCS +2.4%, NVO +1.9%, SNY +1.8%, DB +1.7%, NVS +1.6%, GSK +1.3%, SAN +1.2%, SAP +1%

Select oil/gas related names showing strength: PBR +2%, STO +1.4%, RDS.A +1.2%, TOT +0.9%

Other news: VLTC +117.8% (Carl Icahn disclosed 52.3% active stake in 13D filing), DYAX +46.2% (announces positive results from Phase 1b Clinical Trial of DX-2930 ), INS +9.4% (signed a Stock Purchase Agreement to sell its ChemFree Corporation subsidiary to CRC Industries, Inc for ~$21.6 mln), SRPT +9.2% (appoints Edward Kaye, M.D., as Interim CEO; company on track with clinical and regulatory plans for investigational duchenne muscular dystrophy drugs), ONVO +9% (presents data on in vitro three-dimensional kidney tissue), NBIX +8% (Neurocrine Biosci and Mitsubishi Tanabe Pharma announce agreement to develop and commercialize VMAT2 inhibitor NBI-98854 for movement disorders in Japan and other select Asian markets), SHLD +6.3% (Sears Hldg and General Growth Properties (GGP) have entered into a real estate JV), CYRN +5.6% (following Mitsubishi / Siemen deal), MDCO +3.6% (announces Angiomax patent litigation settlement with Sun Pharmaceuticals), CBK +3.2% (5.2% holder Macellum delivers letter to the CBK mgmt; urges upgrade of board and exploring potential sale to maximize shareholder value), GBSN +2.8% (cont strength), CHK +2.4% (Chesapeake Energy Chairman disclosed purchase of 1 mln shares, worth total of $13.979 mln ), RUBI +2.1% (reached a definitive agreement to acquire privately held Chango Inc for ~$122 mln; Reaffirms Confidence in Q1 2015 Financial Outlook), PMFG +2.1% (announced agreement to sell its ALCO products and Boss-Hatten heat exchanger brands to Koch Heat Transfer; financial details not disclosed), RCPT +1.9% (completed enrollment in the RADIANCE Phase 3 trial of ozanimod in patients with Relapsing Multiple Sclerosis)

Analyst comments: ESPR +3.7% (initiated with a Buy at UBS), TRVN +2.9% (initiated with a Outperform at Wedbush), SPLS +2.2% (upgraded to Overweight from Sector Weight at Keybanc Capital Mkts), LYG +2.1% (upgraded to Hold from Underperform at Jefferies), PHG +1.7% (added to Conviction Buy List at Goldman), TWTR +1.4% (initiated with a Buy at Jefferies), AMT +1.4% (upgraded to Strong Buy from Outperform at Raymond James; esumed with a Overweight at JP Morgan), HPQ +1% (upgraded to Buy from Hold at Jefferies), ZU +1% (initiated with an Outperform at OPCO)

>>> US Early premarket gappers

Early premarket gappers
Gapping up: VLTC +97%, DYAX +47.1%, ONCY +20%, INS +9.4%, CYRN +7.6%, SRPT +6.6%, ESPR +6.3%, SHLD +3.3%, PMFG +2.1%, LYG +2.1%, ANF +2.1%, CHK +2%, CS +2%, BCS +1.8%, PHG +1.7%, SNY +1.6%, YNDX +1.5%, PBR +1.5%, NVS +1.4%, STO +1.4%, BUD +1.4%, SAN +1.3%, SPLS +1.3%, SAP +1.3%, NVO +1.3%, DB+1.2%, GSK +1.2%, HPQ +1.2%, TWTR +1.1%, RUBI +1%, RDS.A +0.9%, SNE +0.8%

Gapping down: HKTV -15.4%, UTIW -15.4%, CTP -4.9%, CHRS -3.2%, NBG -3.1%, BEL -2.4%, KORS -2%, DAL -2%, BHP -1.7%, UAL -1.7%, SHPG -1.5%, MYL -1.3%, BURL -1%, MAC -1%, CGI -0.8%

>>> True or Not (Fool's day today) Yanis Varoufakis: “Greece Will Adopt the Bitc

Yanis Varoufakis: “Greece Will Adopt the Bitcoin If Eurogroup Doesn’t Give Us a Deal” - See more at: http://greece.greekreporter.com/2015/04/01/yanis-varoufakis-greece-will-adopt-the-bitcoin-if-eurogroup-doesnt-give-us-a-deal/#sthash.qFEPwVdJ.dpuf

While Greece’s lenders are pushing the Greek government to accept their terms in order to allocate funds so the country will not go bankrupt, Greek Finance Minister Yanis Varoufakis seems to have another ace up his sleeve. The second top thinker in the world according to prospect magazine surprised even his closest aids at a secret meeting when he said “We ‘ve had enough, we ‘ll run on Bitcoin.”

Sources very closed to Greece’s minister of finance told Greek Reporter that today Yanis Varoufakis held a top secret meeting with high-ranking finance ministry officials to prepare them in case negotiations at the upcoming Eurogroup fail. The anonymous source noted that everybody in the room was staring at each other when Varoufakis – also a prominent blogger – said “We ‘ll go to Bitcoin, we will be ahead of all the world economies and although it may be painful in the beginning, Greece’s economy will thrive in the long term.”

The Greek Finance Minister went on to explain what is the cryptocurrency and how it will be implemented into Greeks’ day to day life by using a special mini computerized card with a chip. All citizens will carry the card as an electronic wallet. The card will be distributed for free to all Greek citizens via the local tax offices but it will also be available for purchase at the country’s entry points for 45 euros, or 0,20 Bitcoin each. The sale of the card to tourists is expected to be another form of revenue for cash-strapped Greece.

“This is the smartest move to beat corruption and tax evasion, all transactions will be recorded to the Greek Ministry of Finance new secure and dedicated Bitcoin servers and we ‘ll be able to track transanctions at any given moment,” said Varoufakis defending his decision.

Many officials objected saying that Greece doesn’t have the knowhow to start such a global movement but the Greek Finance Minister said that he does what the Ancient Greeks would do in his position – and that is: be the future!

“As Greeks we are innovators, look at our history,” exclaimed Varoufakis who added “The first computer was used in Greece, the mechanism of Antikythira, nobody knew what we were starting then.”

“The future starts in Greece and we will be the first country to use the currency of the future, a currency that doesn’t allow third parties to tell us what to do or how to live, this is the Greek thing to do,” said the Greek minister.

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part while it can be used for transactions worldwide.

Earlier in the day German Finance Minister Wolfgang Schaeuble had made statements putting down once again Greece’s negotiation efforts and this might have been the reason his Greek counterpart held this important meeting today.

“This is the way to be ahead, they want us to back up and they say we don’t have a clue on what we do, but this is the solution for Greece’s future,” said Varoufakis according to the same high-ranking finance ministry official who was present at the meeting.

Alexis Tsipras, the country’s prime minister who is younger but not as digitally advanced as Varoufakis, was reluctant in the beginning. Tsipras realized the advantages of such a move during a special session the Greek Finance minister held for the Greek Prime Minister at Maximos Mansion during the weekend. The session was also attended by other leftist government members who needed to be prepared and lead the way in using the Bitcoin when and if Greece switches.

According to a source close to the Greek Prime Minster the Finance Ministry is planning to hold free special seminars for all Greek citizens on how to use the Bitcoin. As of today a forum on the Bitcoin and its use has been set up in Greek here. It is expected that the Greek Economy will be running on Euro and Bitcoin simultaneously at least for one year until all citizens get familiar with the use of the digital currency.

The next crucial Eurogroup for Greece’s future should be held in the next two weeks.

>>> Fed's Lockhart (moderate, FOMC voter): Economic growth to pick up in Q2, ini

Fed's Lockhart (moderate, FOMC voter): Economic growth to pick up in Q2, initial rate hikes still likely in the June-September period
- Do not expect new tools such as overnight repos to become permanent features of Fed policy
- Fed will be able to maintain substantial control over short-term rates once liftoff begins
- There is still considerable underutilization in US labor markets
- Regulators still in questioning phase in understanding shadow banking, how to control it
- Measures of employment are more accurate than measures of economic growth, should be watched closely

(BFW) Roche CEO Schwan Says Mega-Merger Is ‘Totally Unthinkable:’ HZ

Roche CEO Schwan Says Mega-Merger Is ‘Totally Unthinkable:’ HZ
2015-04-01 11:45:59.600 GMT


By Simeon Bennett
(Bloomberg) -- For Handelszeitung’s story (in German): Link

Link to Company News:{ROG VX <Equity> CN <GO>}

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To contact the reporter on this story:
Simeon Bennett in Geneva at +41-22-317-9238 or
sbennett9@bloomberg.net

To contact the editor responsible for this story:
Zoe Schneeweiss at +41-44-2244146 or
zschneeweiss@bloomberg.net

(BFW) Lafarge/Holcim Offers Most Upside in Building Materials: Natixis

Lafarge/Holcim Offers Most Upside in Building Materials: Natixis
2015-04-01 06:51:28.771 GMT


By James Cone
(Bloomberg) -- Natixis initiates coverage of European
cement cos. in note today with buy ratings on Lafarge, Holcim,
CRH, neutral on Vicat, Italcementi, reduce on HeidelbergCement.
* Natixis says sector should benefit from improvement in
global economic outlook, lower energy costs, positive
earnings momentum
* U.S. growth factored in, although Europe may see some
improvement in 2H, EM set for mixed trends
* Lafarge/Holcim most appealing; says Holcim shareholders
expected to approve new terms of 0.9 of one Holcim share
for one share of Lafarge at May 8 EGM
* Sees level as “perfectly acceptable” on discounted
valuation of new entity, strong yield outlook,
“exceptional” payout, possible further cash
returns
* Sees level as “perfectly acceptable” on discounted
valuation of new entity, strong yield outlook,
“exceptional” payout, possible further cash
returns</li></ul>
* Proposed acquisition of Lafarge/Holcim assets by CRH
sends “positive message”; sees 22% accretive impact in
2016 on planned synergies
* Further sector consolidation likely; Italcementi a
candidate, merger with HeidelbergCement makes sense
* Further sector consolidation likely; Italcementi a
candidate, merger with HeidelbergCement makes sense</li></ul>
* HSBC today raised HeidelbergCement to hold, lifted 2015-17
Ebitda ests. 4%-6% following FY results
* NOTE March 27: Holcim’s No. 2 investor said to plan vote
against Lafarge merger
* NOTE March 20: Holcim, Lafarge rescue merger from brink of
collapse

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To contact the reporter on this story:
James Cone in London at +44-20-3525-2572 or
jcone@bloomberg.net
To contact the editor responsible for this story:
James Ludden at +44-20-3525-2645 or
jludden@bloomberg.net