*BRUNELLO CUCINELLI STAKE BEING SOLD IN ACCELERATED BOOKBUILDING
Looks to raise $3B from asset sales this year - conf call comments
- To cease production at Marlim Sul offshore field in 2015.
IBM - Hearing vague chatter an activist could look to get involved - Pershing Square's Ackman again rumored as potentially interested
RTRS - FRENCH FINMIN SAYS FRANCE HAS 42 BLN EURO EXPOSURE TO GREEK DEBT, GREEK DEBT WILL NOT BE CANCELLED
Greece PM Tsipras: Negotiating with European partners to find a solution that is mutually beneficial; Govt does have some radical reform plans
- New Greece Govt guarantees stability
Telenor seen as better prepared for M&A activity after state gains approval to reduce its stake
Telenor is seen as better prepared for M&A activity after the Norwegian parliament approved a possible reduction of the state's stake in the Norwegian telco, according to Finansavisen.
The Norwegian business daily cited a Carnegie analyst who said that the government is not likely in a hurry to reduce the stake but being able to sell shares gives Telenor the possibility to use its own shares in M&A situations.
When asked where these opportunities might occur, he said that the Indian market is very much in need of consolidation and also pointed to the recent rumours regarding possible talks between Telenor and Indian Tata Teleservices.
The paper reported that Telenor's Asian director, Sigve Brekke, said late last year that the company has long-term plans in India.
Meanwhile, an ABG Sundal Collier analyst did not think a stake reduction will occur in the immediate future either selling directly or via a merger takes time to consider and prepare. He was also sceptical to Telenor participating in a larger deal in India.
Finansavisen
Facebook Abuses ‘Quasi-Monopoly’ Status on User Data: Lawmaker
2015-01-29 13:43:33.53 GMT
By Stephanie Bodoni
(Bloomberg) -- Facebook is “abusing” its almost dominant
position and processes its users’ personal data without consent
to develop new business models, says Jan Philipp Albrecht, the
lead EU lawmaker on plans for new data protection rules.
* What Facebook is doing is “pure blackmail and isn’t in line
with EU data protection rules,” says Albrecht in e-mailed
statement on Thursday, commenting on Facebook’s revamped
policy for handling users’ photos and data
* Data protection watchdogs must “speedily” urge Facebook to
find an “acceptable regulation,” Albrecht says
* Facebook’s changes would give the company the right to use
information and images for commercial purposes; changes were
delayed until Jan. 30 from the start of the year
* SEE: Facebook’s Privacy Policy Reviewed by Hamburg Data
Regulator NSN NIW6EK6JIJVN<GO>
* SEE: Facebook Follows Google as Dutch Watchdog Probes
Privacy NSN NGOS3Q6TTDSH<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:
Stephanie Bodoni in Luxembourg at +352-22-9999-5270 or
sbodoni@bloomberg.net
To contact the editor responsible for this story:
Anthony Aarons at +44-20-3525-2227 or
aaarons@bloomberg.net
2015-01-29 13:43:33.53 GMT
By Stephanie Bodoni
(Bloomberg) -- Facebook is “abusing” its almost dominant
position and processes its users’ personal data without consent
to develop new business models, says Jan Philipp Albrecht, the
lead EU lawmaker on plans for new data protection rules.
* What Facebook is doing is “pure blackmail and isn’t in line
with EU data protection rules,” says Albrecht in e-mailed
statement on Thursday, commenting on Facebook’s revamped
policy for handling users’ photos and data
* Data protection watchdogs must “speedily” urge Facebook to
find an “acceptable regulation,” Albrecht says
* Facebook’s changes would give the company the right to use
information and images for commercial purposes; changes were
delayed until Jan. 30 from the start of the year
* SEE: Facebook’s Privacy Policy Reviewed by Hamburg Data
Regulator NSN NIW6EK6JIJVN<GO>
* SEE: Facebook Follows Google as Dutch Watchdog Probes
Privacy NSN NGOS3Q6TTDSH<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:
Stephanie Bodoni in Luxembourg at +352-22-9999-5270 or
sbodoni@bloomberg.net
To contact the editor responsible for this story:
Anthony Aarons at +44-20-3525-2227 or
aaarons@bloomberg.net
Gapping up
In reaction to strong earnings/guidance: MLNX +13.9%, COH +7%, NSPH +6.5%, (also announced that it has received a warning letter from the FDA resulting from inspections of its facility in Northbrook, Illinois by the FDA's Chicago District Office that occurred in March 2014), CTXS +6.4%, (also announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency), NOW +6.4%, FLEX +6%, KATE +5.1% (announces plan to focus investment on kate spade new york; guides FY14 and FY15), EXTR +4.3%, AZPN +4.2%, (light volume), DOW +4.2%, DEO +4%, CAVM +3.8%, DB +3.8%, RDY +3.4%, LVS +3.2%, ISIL +3.2%, (light volume), PENN +3.2%, SHOR +3.1%, CMPR +2.6%, POT +2.6%, CL +2.6%, HAR+2.5%, SWK +2.3%, HP +2.2%, F +2%, BEAV +1.7%, BX +1.6%, CRR +1.5%, VLO +1.4%, MEOH +1.3%, VAR +1.2%, CHKP +1.2%, HOLX +1.1%, SSLT +1.1%, GFF +1%, FLS +0.9%, MD +0.9%, MJN +0.9%, CELG +0.9%, PSX +0.9%, RCI +0.8%, JBLU +0.8%
Other news: XNCR +27.1% (eports top-line XmAb5871 Phase 1b/2a results; showing promising clinical activity in Rheumatoid Arthritis), BLDP +10.4% (wins European Union funding for 21 fuel cell buses), VVUS +6.4% (European Commission has amended the marketing authorization for SPEDRA), PSTI +5.9% (cont strength), NBG +5.8% (rebounding after recent weakness), CBRX+5.3% (Chairman Stephen G. Kasnet does not intend to stand for reelection to the Board when his current term expires at the next annual shareholder meeting), BXE +4.3% (updated 2015 net capital budget and operational outlook), ANTH +3.6% (entered into Subscription Agreements with Zenyaku Kogyo and Amgen (AMGN) with respect to a registered direct offering of ~3.2 mln shares of the Company's common stock), MCD +3% (Announced that Don Thompson will retire as President, CEO, and as a member of the Board, effective March 1; Board has elected Steve Easterbrook to replace Thompson as President and CEO), AVP +2.7% (named James S. Scully Chief Financial Officer), FXCM +2.5% (cont pre-mkt vol), SLXP +1.3% (provides update on Audit Committee review; aggregate impact of errors on net product revenue and net income over all previously reported periods affected by the restatements is a decrease of approximately $20.7 mln and $11.9 mln, respectively), MX +1.1% (updates timeline for restatement; expects to file late quarterly and annual reports during the week of February 9, 2015, but no later than February 13, 2015), AZN +1% (announces four research collaborations aimed at harnessing the power of CRISPR), RDHL +0.9% (provides update on progress with RHB-104 ongoing Phase III program)
Analyst comments: TI +3.7% (added to Focus list at Goldman), CYOU +1.9% (upgraded to Overweight from Underweight at HSBC ), AAPL +0.5% (target raised to $135 from $125 at Argus)
In reaction to strong earnings/guidance: MLNX +13.9%, COH +7%, NSPH +6.5%, (also announced that it has received a warning letter from the FDA resulting from inspections of its facility in Northbrook, Illinois by the FDA's Chicago District Office that occurred in March 2014), CTXS +6.4%, (also announced the implementation of a restructuring program designed to increase strategic focus and operational efficiency), NOW +6.4%, FLEX +6%, KATE +5.1% (announces plan to focus investment on kate spade new york; guides FY14 and FY15), EXTR +4.3%, AZPN +4.2%, (light volume), DOW +4.2%, DEO +4%, CAVM +3.8%, DB +3.8%, RDY +3.4%, LVS +3.2%, ISIL +3.2%, (light volume), PENN +3.2%, SHOR +3.1%, CMPR +2.6%, POT +2.6%, CL +2.6%, HAR+2.5%, SWK +2.3%, HP +2.2%, F +2%, BEAV +1.7%, BX +1.6%, CRR +1.5%, VLO +1.4%, MEOH +1.3%, VAR +1.2%, CHKP +1.2%, HOLX +1.1%, SSLT +1.1%, GFF +1%, FLS +0.9%, MD +0.9%, MJN +0.9%, CELG +0.9%, PSX +0.9%, RCI +0.8%, JBLU +0.8%
Other news: XNCR +27.1% (eports top-line XmAb5871 Phase 1b/2a results; showing promising clinical activity in Rheumatoid Arthritis), BLDP +10.4% (wins European Union funding for 21 fuel cell buses), VVUS +6.4% (European Commission has amended the marketing authorization for SPEDRA), PSTI +5.9% (cont strength), NBG +5.8% (rebounding after recent weakness), CBRX+5.3% (Chairman Stephen G. Kasnet does not intend to stand for reelection to the Board when his current term expires at the next annual shareholder meeting), BXE +4.3% (updated 2015 net capital budget and operational outlook), ANTH +3.6% (entered into Subscription Agreements with Zenyaku Kogyo and Amgen (AMGN) with respect to a registered direct offering of ~3.2 mln shares of the Company's common stock), MCD +3% (Announced that Don Thompson will retire as President, CEO, and as a member of the Board, effective March 1; Board has elected Steve Easterbrook to replace Thompson as President and CEO), AVP +2.7% (named James S. Scully Chief Financial Officer), FXCM +2.5% (cont pre-mkt vol), SLXP +1.3% (provides update on Audit Committee review; aggregate impact of errors on net product revenue and net income over all previously reported periods affected by the restatements is a decrease of approximately $20.7 mln and $11.9 mln, respectively), MX +1.1% (updates timeline for restatement; expects to file late quarterly and annual reports during the week of February 9, 2015, but no later than February 13, 2015), AZN +1% (announces four research collaborations aimed at harnessing the power of CRISPR), RDHL +0.9% (provides update on progress with RHB-104 ongoing Phase III program)
Analyst comments: TI +3.7% (added to Focus list at Goldman), CYOU +1.9% (upgraded to Overweight from Underweight at HSBC ), AAPL +0.5% (target raised to $135 from $125 at Argus)
Gapping down
In reaction to disappointing earnings/guidance: ATK -37.5%, CLB -15.5%, QCOM -8.3%, BABA -6%, QRVO -5.7%, VRTX -5.4%, (light volume), FTNT -5.4%, DWCH -5%, RCL -4.3%, GLOP -3.2%, EPD -2.9%, RDS.A -2.8%, TGI -2.7%, HSY -2.7%, ALXN -2.1%, QGEN -1.7%, PRXL -1.7%, RGLD -1.7%, BBD -1.6%, RTN -1.5%, ALGT -1.4%, KEX -1.3%, COLB -1.3%, FB -1.2%,ITG -1.2%, NOK -1%, TSCO -0.9%
Select metals/mining stocks trading lower: HMY -4%, DRD -3.8%, AG -3.8%, SLW -3.4%, GFI -3.2%, SVM -2.9%, GG -2.8%, HL -2.8%, AUY -2.7%, SLV -2.6%, SSRI -2.4%, GOLD -2.2%
Other news: APPY -70.6% (announces the FDA has determined that the APPY1 Test does not meet the criteria for substantial equivalence), GEVO -21.9% (intends to offer and sell common stock units; size not disclosed), HNR -20.5% (announces that its affiliates have withdrawn without prejudice a Request for Arbitration against the Government of the Bolivarian Republic of Venezuela),YHOO -5.5% (following BABA earnings), EXK -5.4% (updates NI 43-101 silver and gold reserve and resource estimates for its mines and exploration project in Mexico), MPET -4.9% (provides update on its CO2-enhanced oil recovery pilot at Poplar Dome in Montana), FRO -4.3% (announces the second amended and restated equity distribution agreement), REXR -3.1% (announces offering; 10 mln shares of common stock), TSM -3.1% (following QCOM results), PRE -3% (announced that during the January 1, 2015 treaty renewal season it expects to write and bind approximately $2.7 billion of Non-Life treaty premium), XNPT -2.7% (intends to offer $100 mln aggregate principal amount of convertible senior notes due 2022 in a private placement; disclosed that it expects to report that it had $102.1 mln of cash, cash equivalents and short-term investments as of December 31, 2014), MRTX -1.8% (intends to offer and sell shares of its common stock in an underwritten public offering; size not disclosed; disclosed that it estimates its cash, cash equivalents and marketable securities were ~$29.3 mln as of December 31, 2014)
Analyst comments: PBR -5.3% (downgraded to Underweight from Neutral at HSBC Securities), VIP -0.9% (downgraded to Hold from Buy at Deutsche Bank), HSBC -0.6% (downgraded to Underperform from Neutral at Exane BNP Paribas)
In reaction to disappointing earnings/guidance: ATK -37.5%, CLB -15.5%, QCOM -8.3%, BABA -6%, QRVO -5.7%, VRTX -5.4%, (light volume), FTNT -5.4%, DWCH -5%, RCL -4.3%, GLOP -3.2%, EPD -2.9%, RDS.A -2.8%, TGI -2.7%, HSY -2.7%, ALXN -2.1%, QGEN -1.7%, PRXL -1.7%, RGLD -1.7%, BBD -1.6%, RTN -1.5%, ALGT -1.4%, KEX -1.3%, COLB -1.3%, FB -1.2%,ITG -1.2%, NOK -1%, TSCO -0.9%
Select metals/mining stocks trading lower: HMY -4%, DRD -3.8%, AG -3.8%, SLW -3.4%, GFI -3.2%, SVM -2.9%, GG -2.8%, HL -2.8%, AUY -2.7%, SLV -2.6%, SSRI -2.4%, GOLD -2.2%
Other news: APPY -70.6% (announces the FDA has determined that the APPY1 Test does not meet the criteria for substantial equivalence), GEVO -21.9% (intends to offer and sell common stock units; size not disclosed), HNR -20.5% (announces that its affiliates have withdrawn without prejudice a Request for Arbitration against the Government of the Bolivarian Republic of Venezuela),YHOO -5.5% (following BABA earnings), EXK -5.4% (updates NI 43-101 silver and gold reserve and resource estimates for its mines and exploration project in Mexico), MPET -4.9% (provides update on its CO2-enhanced oil recovery pilot at Poplar Dome in Montana), FRO -4.3% (announces the second amended and restated equity distribution agreement), REXR -3.1% (announces offering; 10 mln shares of common stock), TSM -3.1% (following QCOM results), PRE -3% (announced that during the January 1, 2015 treaty renewal season it expects to write and bind approximately $2.7 billion of Non-Life treaty premium), XNPT -2.7% (intends to offer $100 mln aggregate principal amount of convertible senior notes due 2022 in a private placement; disclosed that it expects to report that it had $102.1 mln of cash, cash equivalents and short-term investments as of December 31, 2014), MRTX -1.8% (intends to offer and sell shares of its common stock in an underwritten public offering; size not disclosed; disclosed that it estimates its cash, cash equivalents and marketable securities were ~$29.3 mln as of December 31, 2014)
Analyst comments: PBR -5.3% (downgraded to Underweight from Neutral at HSBC Securities), VIP -0.9% (downgraded to Hold from Buy at Deutsche Bank), HSBC -0.6% (downgraded to Underperform from Neutral at Exane BNP Paribas)
Reports Q4 $0.12 v $0.12e, R$8.37B v $8.21Be
- Guides initial FY15 (GAAP) $ v $0.50e, Rev $ v $32.3Be
- Guides initial FY15 Net sales of Industrial Activities of approximately $28B, operating margin of Industrial Activities between 6.1-6.4%
- Guides initial FY15 Net industrial debt at the end of 2015 $2.2-2.4B v $2.7B FYE2014
- Operating margin 4.7%, +400bps y/y
- CEO: Company expects improved profitability in Commercial Vehicles and Construction Equipment, coupled with structural cost improvement measures from the Company's Efficiency Program now extended to Agricultural Equipment. These actions are expected to buffer, but not fully offset the negative impact from the continuation of challenging trading conditions in the row crop sector of the agricultural industry, and the impact of the recent significant appreciation of the US dollar against the Company's other trading currencies, allowing the Company to hold operating margin unless there are further currency deteriorations from the current rate levels outside the United States.