>>> US Gapping Up

Gapping up In reaction to strong earnings/guidance: EDAP+23.7%, BBY +9.3%, WSM +7.5%, CRMT +7%, ATTO +5.9%, GFI +5.4%, MBLY +4.3%, MIK+3.4%, GLOG +3.2%, DLTR +3.1%, KLAC +0.5%, (also declares special cash dividend, announces planned redemption of Senior Notes due 2018, outlook for Q2)

Select metals/mining stocks trading higher: HMY+2.4%, AUY +1.8%, AUY +1.8%, KGC +1.5%, ABX+1.5%, AEM +1.3%, GDX +1.1%

Other news: CZR +15.6% (co disclosed that in a previously proposal it considered restructuring Caesars Entertainment Operating Company as a REIT), EYES +10.2% (cont strength post IPO),NAVB +5.7% (announced that the European Commission has granted marketing authorization for Lymphoseek 250 micrograms kit for radiopharmaceutical preparation), MAS +4.7% (still checking), CLD +4.5% (announced termination of $100 mln public offering of mandatory convertible preferred stock), HGG +3.4% (in symp with BBY earnings), RDCM +3.1% (received a $4.3 mln purchase order from an existing Tier-1 customer in the APAC region), DG +2.6% (in symp with DLTR earnings), SPEX +2.5% (SPEX litigation against CSCO continues on patents acquired from Rockstar Consortium), YGE +1.8% (still checking), GRPN+1.7% (Director disclosed purchase of 30000 shares, worth total of $232.6K ), ATVI +1.1% (announced that an agreement has been reached to settle the consolidated derivative and class action shareholder case; multiple insurance companies to pay ATVI $275 mln), PPS +1.1% (announced a new $200 mln stock and note repurchase program)

Analyst comments: TRUE +2.4% (upgraded to Outperform at RBC Capital Mkts), JBLU +1.9% (upgraded to Neutral from Underperform at Credit Suisse), YUM +0.8% (upgraded to Buy from Neutral at Janney), SYT +0.7% (upgraded to Buy at Kepler)

(BFW) Buy Europe Equities Calls as It’s ‘Time for Action’ by ECB: BNP

Buy Europe Equities Calls as It’s ‘Time for Action’ by ECB: BNP
2014-11-20 13:02:30.729 GMT


By Joanna Ossinger
Nov. 20 (Bloomberg) -- Buy SX5E Dec. 3225/3375 call spread
for 0.64% indicatively as EU500b QE should result in 10% upside
for euro zone equities, BNP Paribas strategists Ankit Gheedia,
Martial Godet write in note.
* Buy SX7E 142.5/152.5 Dec. call spread for 1.7% premium as
policy announcement on TLTRO should be favorable for SX7E
* Strategy most profitable for 10%-12% rally, which is
“potential cap” in absence of BOJ-style easing “which
seems premature at this stage”
* Strategy most profitable for 10%-12% rally, which is
“potential cap” in absence of BOJ-style easing “which
seems premature at this stage”</li></ul>
* Buy CAC Dec. 4375/4600 call spread for 0.76% premium
* NOTE: Earlier, How Do You Solve a Problem Like Mario’s?
Ideas to Skirt Full QE
* NOTE: Nov. 5, Bet on ECB Taking Unconventional Measures
After BOJ Move: BNP

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

To contact the reporter on this story:
Joanna Ossinger in New York at +1-212-617-7789 or
jossinger@bloomberg.net
To contact the editor responsible for this story:
Joanna Ossinger at +1-212-617-7789 or
jossinger@bloomberg.net

>>> Goldman Lists 2015 Top Trades; Position for Sizable EUR Downside

Top Trade #1: EUR/$ downside via a one-year EUR/$ put spread.
Top Trade #2: 10-year US Treasuries above 3% but not below 2% in
mid-2015, through cap and floor spreads at zero cost.
Top Trade #3: Long a Dec-2015 Eurostoxx 50 ‘bull’ call spread.
Top Trade #4: Long US High Yield credit risk via 5-year CDX HY junior
mezzanine tranches.
Top Trade #5: Long an equity basket of EM crude oil importers
(Taiwan, Turkey and India).
Top Trade #6: Short CHF/SEK.
Top Trade #7: Bearish Copper relative to Nickel, on supply divergence.
Top Trade #8: Long US Dollar against a basket of ZAR and HUF.

>>> Malone Says Charter Will Try to Buy Time Warner Cable if Comcast Deal Falls

Malone Says Charter Will Try to Buy Time Warner Cable if Comcast Deal Falls Through
Liberty Media Corp. Chairman Says Would Act if Regulators Kill Current Plan

Liberty Media Corp. Chairman John Malone said Wednesday the cable operator he backs, Charter Communications Inc., would try to acquire Time Warner Cable Inc. outright if Comcast Corp. ’s pending deal with TWC falls through.

Earlier this year, Charter agreed to a complex deal with Comcast that would allow it to purchase subscribers from Comcast after the TWC deal closes. That transaction would effectively make Charter the second largest cable operator, servicing about eight million TV and Internet customers.

Mr. Malone, speaking at Liberty Media’s investor day, said he would pursue an outright purchase of Time Warner Cable if the Comcast deal doesn’t get approval from regulators. That deal is getting significant scrutiny in Washington. But Mr. Malone said, “We’re happy with the deal that’s been negotiated,” adding that “in many ways from our point of view it’s a better deal.”

Liberty Media bought a big stake in Charter last year and recently spun off that interest into Liberty Broadband, a new publicly traded company. Liberty and Charter had pursued an acquisition of Time Warner Cable for months last year but lost out to Comcast, which struck a deal with TWC instead.

>>> Makor / Oscar Gruss New York Bagel



From: LAURA ANREDER (OSCAR GRUSS & SON IN) At: Nov 20 2014 11:50:34
To: NICOLAS MARMUREK (MAKOR SECURITIES LLP)
Subject: Fwd:11/20/14 AM Update DLTR, KMI , DRC, PL, CPWR, CNL, BYI, POM, KLAC, GFIG, WP

Today’s Events

 

BYI/SGMS NV Gaming Control Bd/Gaming Commission Meetings (on agendas)

CNL  Proxy Filing Deadline

CPWR  Lender Meeting 10:30am et per BB on 11/17

DRC S/H Vote 8am CT

EPB/KMI  S/H Vote  EPG 11am et, KMI 10am et

FST  S/H Vote Date 9am MT

IRF/IFX GR  CFIUS expires

KMP/KMR  S/H Votes 12pm et

PL  Dai-ichi Analyst Day http://www.dai-ichi-life.co.jp/english/investor/pdf/2014_half_statement_point.pdf

“Regulatory still in progress – closing between December 2014-January 2015” slide- 25

POM/EXC  FERC Commission Meeting (on agenda) 10am et http://ferc.capitolconnection.org/ (webcast link)

TEG/WEC  IL PUC Staff and Intervenor Testimony due

 

EPS/Conference Presentations

 

DLTR  CC @ 9:00am ET - 888.551.9020 / 719.457.2637 or www.dollartreeinfo.com/investors/news/events

PERY 3Q15 9am et http://investor.pery.com/eventdetail.cfm?EventID=152635

RAI WFC Conference 1:25pm http://reynoldsamerican.com/events.cfm

Z Presents 10am et GS Conference http://investors.zillow.com/events.cfm

 

WPZ/ACMP S-4 filed  No dates

http://www.sec.gov/Archives/edgar/data/1483096/000119312514418886/d813486ds4.htm

 

ATLS/TRGP S-4 Filed  No dates

http://www.sec.gov/Archives/edgar/data/1379661/000119312514418935/d821327ds4.htm

 

APL/NGLS S-4 filed  No dates 

Pending Litigation

In October and November 2014, four public unitholders of APL filed putative class action lawsuits against APL, ATLS, APL GP, its managers, TRC, TRP, TRP GP and MLP Merger Sub. In October and November 2014, two public unitholders of ATLS filed putative class action lawsuits against ATLS, ATLS GP, its managers, TRC and GP Merger Sub. The plaintiffs allege a variety of causes of action challenging the Atlas Mergers. Targa and Atlas cannot predict the outcome of these or any other lawsuits that might be filed subsequent to the date of the filing of this proxy statement/prospectus, nor can Targa or Atlas predict the amount of time and expense that will be required to resolve these lawsuits. Targa, Atlas and the other defendants named in these lawsuits intend to defend vigorously against these and any other actions.

http://www.sec.gov/Archives/edgar/data/1379661/000119312514418935/d821327ds4.htm

 

PERY NY Post:  At least two prospective acquirers have approached the 47-year old clothing company and discussed paying $30 a share, or more — a 25-percent premium to Wednesday’s closing price, The Post has learned.

Iconix Group, a New York licensing firm whose brands include Peanuts, Sharper Image and London Fog, is one of the prospective bidders, according to sources close to the talks.

Insiders cautioned that the talks have been informal and could fall apart.

http://nypost.com/2014/11/20/fashion-buyers-seen-perry-ellis-picking/

 

TRW Shareholders approve; clears CFIUS

http://www.sec.gov/Archives/edgar/data/1267097/000110465914082195/0001104659-14-082195-index.htm

 

HESS Hess Midstream S-1/A#1 filed

http://www.sec.gov/Archives/edgar/data/1619739/000119312514419119/0001193125-14-419119-index.htm

 

POM/EXC  DC PSC Settlement Conference rescheduled from 11/19 due to scheduling conflict , parties will now meet on 11/25 With report to Commission due 12/1 ( was 11/21).

 

KLAC declares $16.50 special dividend to holders of record 12/1 payable 12/9; announces redemption of sr. notes due 2018; revises 2Q15 outlook

http://ir.kla-tencor.com/releasedetail.cfm?ReleaseID=883997

 

GFIG/BGCP  files T-O/A updates background; reports discussions with GFIG special committee re tender support agreement  dated 11/15 \, including the required regulatory approvals and methods of exchanging information given the lack of

a NDA between the parties

http://www.sec.gov/Archives/edgar/data/1292426/000119312514418676/0001193125-14-418676-index.htm

 

XWES/EnerNoc  T-O and 14d-9 filed

Go-Shop Process; Current Transaction

As permitted by the terms of the Merger Agreement, the Company, with the assistance of the Special Committee’s legal and financial advisors, commenced a go-shop solicitation process to seek alternative proposals for the acquisition of all outstanding Shares. The go-shop solicitation process commenced on November 5, 2014 and will continue until 11:59 p.m., Boston, Massachusetts time, on December 29, 2014, subject to a five-day extension in the event of a pending proposal by a party which has not been withdrawn, terminated or expired.

http://www.sec.gov/Archives/edgar/data/1371781/000119312514418680/0001193125-14-418680-index.htm

http://www.sec.gov/Archives/edgar/data/1371781/000119312514418685/d818958dsc14d9.htm

 

 

Laura Anreder

Senior Managing Director

Oscar Gruss and Son Incorporated

55 East 59th Street 15th floor

New York,New York 10022

212-419-4014

 

>>> US Early premarket gappers

Early premarket gappers
Gapping up: CZR +18.1%, WSM +7.4%, CRMT +7%, KLAC +6.2%, GFI +6.1%, ATTO +5.9%, BBY +5.5%, MAS +4.7%, CLD +4.5%, GLOG +4.2%, MIK +3.9%, HGG +3.4%, JBLU +3.1%, AUY +3%, HMY +3%, AUY +3%, KGC +2.9%, YGE +2.1%, GDX +2%, GRPN +1.7%, ABX +1.7%, PBR +1.3%, AEM +1.3%, PPS +1.1%, BBD +1.1%, SDRL +0.9%, ATVI +0.7%, IRDM +0.6%,HTZ +0.5%

Gapping down: DWCH -24.9%, JMEI -14.3%, HI -12.1%, LXRX -12%, CCIH -9.8%, FGL -8.6%, RGSE -7.3%, CGG -6.6%, GPRO -6.1%, WD -5.4%, CRM -4.9%, SMTC -4.9%, IRT -3.4%, JKS -3.1%, CSIQ -2.9%, BBVA -2.8%, RIO -2.8%, ING -2.6%, EFUT -2.6%, BHP -2.3%, DB -2.3%, SNY -2.3%, RMTI -2.1%, MT -2%, SAN -1.8%, NBG -1.7%, AZN -1.7%, OKS -1.6%, CBPX -1.4%,HSBC -1.3%, SFUN -1.3%, SPWR -1.2%, ALV -1.1%, FSLR -1.1%, MBLY -1.1%, BABA -1%, GM -0.9%, LQDT -0.9%, GMCR -0.7%, LB -0.6%, SPB -0.6%

>>> Best Buy beats by $0.07, beats on revs, comps +2.2%; guides Q4 comps above c

Best Buy beats by $0.07, beats on revs, comps +2.2%; guides Q4 comps above consensus

Reports Q3 (Oct) earnings of $0.32 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of $0.25; revenues rose 0.6% year/year to $9.38 bln vs the $9.11 bln consensus.
  • Comps +2.2% vs. -1.7% consensus and guidance for low single digit decline in 2H15.
  • On the top line, while sales in the NPD-reported Consumer Electronics categories declined 0.2%4, our strength in televisions, computing, and tablets versus the industry, in addition to our growth in gaming and appliances, drove a Domestic comparable sales increase of 2.4%, excluding the 80-basis point estimated benefit associated with the classification of revenue for the new mobile carrier installment billing plans2. Domestic online comparable sales increased 22%."
  • $65 million in additional annualized Renew Blue cost reductions, bringing the cumulative total to $965 million
Co issues upside guidance for Q4, sees Q4 revs of flat YoY from $14.47 bln vs. $14.25 bln Capital IQ Consensus; near flat year-over-year revenue and comparable sales growth (previously said comps down low single digits for 2H15) -- assuming revenue declines in the NPD-reported Consumer Electronics categories are in line with Q3 FY15; (2) an improvement in the year-over-year gross profit rate (consensus +20 bps to 20.4%). The net result of these outcomes, similar to last quarter's outlook, is expected to equate to a year-over-year expansion in the Q4 non-GAAP operating income rate of ~50 basis points (similat to last quarter's guiance for 2H15).

>>> Mobileye N.V. reports EPS in-line, beats on revs (46.75)

Mobileye N.V. reports EPS in-line, beats on revs

Reports Q3 (Sep) earnings of $0.04 per share, in-line with the Capital IQ Consensus Estimate of $0.04; revenues rose 70.1% year/year to $34.7 mln vs the $31.09 mln consensus.
  • "During the quarter we successfully won programs for our EyeQ System-on-Chip in several new models with new and existing OEM customers, further validating our best-of-breed mono-camera technology, which bundles multiple applications into a single package. Mobileye remains in a position to benefit from the ongoing move toward increased regulation of ADAS as well as from the large and growing trend towards semi-autonomous and autonomous driving."