TheChek News Flow

Fed's Tarullo says more work needed to be done for bank compensation; need to incentivize employees to increase revenues and minimize risks

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BFW 10/20 15:49 *BMW PREFERRED SHARES OFFERED IN BOOKBUILD BY UBS: TERM SHEET

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BMW Preferred Shares Offered in Bookbuild by UBS, Terms Show 2014-10-20 15:55:13.374 GMT

By Ruth David Oct. 20 (Bloomberg) -- Bestinver Gestion selling 3.33m preferred shares in BMW in accelerated bookbuild, according to term sheet obtained by Bloomberg News. * Equivalent to 0.5% of total outstanding shrs * Offered at between EU60 and market price; pfd stock closed at EU62.93 today * UBS sole bookrunner Link to Company News:{BMW GR <Equity> CN <GO>}

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

To contact the reporter on this story: Ruth David in London at +44-20-3525-8095 or rdavid9@bloomberg.net

To contact the editor responsible for this story: James Ludden at +44-20-7673-2645 or jludden@bloomberg.net

SunEdison spikes on report David Einhorn will reccomend the stock at Robin Hood Conf: He has presented on his SUNE position the past

SCHAEUBLE SAYS GERMAN ECONOMIC OUTLOOK IS CLOUDING OVER *SCHAEUBLE: FRANCE, GERMANY DISCUSSED WAYS TO BOOST INVESTMENTS

LVMH TO DISTRIBUTE HERMES SHRS AT 2 FOR 41 LVMH SHRS HELD: RTRS

Gapping down In reaction to disappointing earnings/guidance: SHOO -10.5%, NCR -10.4%, IBM -6.3%, SAP -4.2%, PHG -3.9%, VFC -3.6%, ESLT -0.9%, (anticipates extraordinary finance expenses in Q3) CHL -0.9%, .

M&A news: CSX -3.4% (Canadian Pacific announced that exploratory conversations held with CSX (CSX) about a possible business combination have ended, no further talks are planned)

Select EU related names showing weakness: PT -21.5%, ARMH -2%, ALU -1.7%, MT -1.5%, NOK -1.4%, ASML -1.4%, AZN -1.2%, HSBC -1%

Select oil/gas related names showing early weakness: TOT -2.2%, STO -2%, PBR -1.9%, RDS.A -1.8%, BP -1.2%

Other news: IBIO -24.3% (may be related to calming Ebola news over the weekend), LAKE -9.9% (may be related to calming Ebola news over the weekend), ESI -3.6% (modestly pulling back following last weeks gains), TKMR -3.5% (easing ebola concerns over the weekend), ORCL -1.7% (in symp with SAP earnings), HPQ -1.6% (in symp with IBM), TSLA -1.2% (still checking), MSFT -1% (in symp with IBM earnings)

Analyst comments: CGG -4.6% (downgraded to Sell from Neutral at Goldman), SDRL -2.6% (downgraded to Neutral from Buy at Citigroup ), CLF -2.3% (downgraded to Sell from Neutral at Citigroup), PBCT -0.9% (downgraded to Mkt Perform from Outperform at Raymond James).

Gapping up In reaction to strong earnings/guidance: PETS +7.4%, VRX +4.8%, LII +3.5%, HAL +3.1%, CBU +2.1%, BTU +0.6%

M&A news: SHOR +18.3% (ShoreTel receives proposal by MITL for $8.10/share in cash), CNL +11.7% (enters agreement to be acquired by North American Investor Group), QEP +7.2% (announces sale of its Midstream Business to Tesoro Logistics LP (TLLP) for $2.5 bln), BBRY +5% (reports of Lenovo potentially making a bid for co),. NPSP +4.8% (Shire (SHPG) may consider another round of acquisition talks with NPSP or Cubist (CBST), according to reports), CBST +1% (sames as NPSP, also names Robert J. Perez CEO)

Other news: SCOK +54% (announced that its aboveground facility for the conversion of CO2 into clean-burning syngas had begun operations), NLNK +31.1% (announces exclusive worldwide licensing agreement for development of NLG919), APRI +17.7% (expands development pipeline with the in-licensing of U.S. rights for Fispemifene), RSH +8.8% (still checking), KNDI +4.3% (still checking), FST +4.1% (announces commencement of proxy mailing), NBG +3.6% (still checking), ETFC +3.6% (added to Conviction Buy List at Goldman), TTM +2.5% (Jaguar Land Rover may open US factory, according to reports), EXXI +2.2% (appointed Bruce Busmire to the position of CFO, replacing West Griffin who is stepping down effective October 20, 2014), TGTX +1.4% (RA Capital Management discloses 8.3% passive stake in 13G filing), SJM +1.4% (increases stock repurchases by 5 mln shares), HL +1.3% (releases production guidance), SHPG +1.3% (Interim Chief Financial Officer James Bowling to step down), RCL +1.2% (Healthcare worker aboard CCL ship tested negative for Ebola, according to reports), CCL +1.1% (Healthcare worker aboard CCL ship tested negative for Ebola, according to reports), PSEC +1% (makes $86.1 million follow-on first-lien senior secured debt investment in Onyx Payments), FDO +0.9% (Elliott issues letter to Family Dollar CEO and Board of Directors) 

Analyst comments: BK +3.5% (upgraded to Neutral from Sell at Goldman), TUBE +1.9% (upgraded to Outperform from Market Perform at BMO Capital Markets), NEM +1.8% (upgraded to Buy from Neutral at Citigroup), SWFT +1.7% (upgraded to Buy from Neutral at Citigroup), AIG +0.9% (upgraded to Buy from Hold at Deutsche Bank), MU +0.8% (upgraded to Outperform from Sector Perform at Pacific Crest)