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Raymond James Finl
06 февраля 2013, 16:35

Frontrunning: February 6

Tunisian opposition politician shot dead, protests erupt (Reuters) China says extremely concerned after latest North Korea threats (Reuters) Postal Service to cut Saturday mail to trim costs (AP) Debt Rise Colors Budget Talks (WSJ) Obama proposes short-term budget fix, Republicans swiftly object (Reuters) S&P Analyst Joked of Bringing Down the House Before Crash (BBG) Dell’s Bigger Challenge Ahead in Turnaround After Buyout (BBG) Some of the Mark Carney Gloss Is Coming Off (WSJ) Japan Official Says BOJ Tools Sufficient as Shake-Up Looms (BBG) S&P Lawsuit Undermined by SEC Rules That Impede Competition (BBG) Heavy Clashes Erupt in Syrian Capital (WSJ) Carmakers Use Aluminum Over Steel in Boost for Rio (BBG) Beijing vows to raise minimum wages (FT) China Port Operators Step Up Overseas Investment (WSJ)   Overnight Media Digest WSJ * A slowly improving U.S. economy and recently enacted tax increases will help bring down the federal deficit for the next few years, the Congressional Budget Office said Tuesday, but it will take another $2 trillion in belt-tightening over the next decade to begin to move the federal debt closer to historic levels. * The U.S. government wants Standard & Poor's Ratings Services to pay more than $5 billion - roughly what its parent company has earned in the past seven years - for giving its seal of approval to bundles of subprime mortgages that eventually crumbled, costing investors billions and helping sink the economy. * Nasdaq OMX Group's missteps during last year's debut of Facebook Inc shares cost Wall Street an estimated $500 million. In the end, U.S. securities regulators may end up fining the exchange group 1 percent of that. * Pinterest is in talks to raise a new round of financing that would value the online scrapbooking site at $2 billion to $2.5 billion. * Regulators leading the world-wide probe into rate-rigging allegations are expected to announce Wednesday a settlement of around 400 million pounds ($626.72 million) with Royal Bank of Scotland, according to people close to the investigation. * John Malone's international cable business Liberty Global Inc has agreed to acquire U.K. cable-television and Internet provider Virgin Media Inc for $16 billion, in a deal that may create a stronger rival to market leader British Sky Broadcasting Group Plc. * Walt Disney Co's net income weakened in the latest quarter, even as revenue grew, reflecting slimmer profits at the movie studio, where home-video titles were less lucrative than those released in the final months of 2011. * Chipotle Mexican Grill Inc and Panera Bread Co have posted solid results even as traditional fast-food chains like McDonald's Corp and Yum Brands Inc are struggling with waning consumer confidence.   FT John Malone's Liberty Global Inc struck a deal to buy British cable group Virgin Media for $23.3 billion in a cash and stock deal, a move that would put the U.S. billionaire up against old rival Rupert Murdoch. Michael Dell struck a deal to take Dell Inc private for $24.4 billion in the biggest leveraged buyout since the financial crisis, partnering with the Silver Lake private equity firm and Microsoft Corp to try to turn around the struggling computer company without Wall Street scrutiny. Business secretary Vince Cable is expected to revive a radical plan to return state-owned Royal Bank of Scotland to private sector hands by distributing free shares to the public. BP Plc is facing demands of more than $34 billion in damages from states and local government in the United States over its 2010 Deepwater Horizon disaster. The claims could significantly increase its potential bill for the Gulf of Mexico spill. Swiss bank UBS said it was cutting bonus payments to its staff in a move to appease regulators and investors and recoup a large part of its $1.5 billion Libor fine. Boeing said it sought permission from U.S. aviation authorities to start test flights of its 787 Dreamliner jet as part of its effort to identify the cause of battery failures that forced the plane to be grounded. European aerospace and defence company EADS plans to bring an American on its board for the first time as the company plans to boost its credentials in the lucrative US market. The Airbus parent has nominated Ralph Crosby, a former executive at Northrop Grumman, to join its board. Jim O'Neill, chairman of Goldman Sachs' asset-management division and the man who coined the acronym 'BRIC', will retire from the bank later this year.   NYT * Court documents offer a look at the inner workings of Standard and Poor's, which the U.S. government says inflated credit ratings with dire consequences for the entire economy. * Dell Inc, seeking to revive itself after years of decline, said on Tuesday it had agreed to go private in a deal led by its founder and the investment firm Silver Lake. * U.S. President Barack Obama on Tuesday called on Congress to quickly pass a new package of limited spending cuts and tax increases to head off substantial across-the-board reductions to domestic and military spending set to begin on March 1, but his appeal for more revenue was dismissed by Republicans. * Liberty Global Inc, the international cable company owned by American billionaire John Malone, agreed on Tuesday to buy the British cable company Virgin Media Inc for about $16 billion. * Law firm Debevoise & Plimpton's move to get out of the estate-planning business comes as the legal industry continues to emphasize more profitable practices. * Twitter confirmed on Tuesday that it was acquiring Bluefin Labs, a company that analyzes online chatter about TV shows and companies and sells its findings. * Jim O'Neill, the economist who a decade ago coined the term "BRICs" - the acronym for the emerging growth economies in Brazil, Russia, India and China - plans to retire from Goldman Sachs Group Inc later this year, the firm announced on Tuesday.   Canada THE GLOBE AND MAIL * The Canadian government is prepared to knock holes in the hefty tariff walls shielding dairy producers from foreign competition and admit more European cheese into the country in return for greater access to EU markets for Canada's beef and pork. * The Conservative government is preparing to commit long-term cash for infrastructure in its 2013 budget in an effort to squeeze more projects - including partnerships with the private sector - out of limited public funds. Reports in the business section: * Suncor Energy Inc has taken a writedown of nearly C$1.5 billion on its Voyageur project, a massive oil sands plant that is now at serious risk of cancellation. * Kathleen Taylor spent years preparing for the top job at Four Seasons Hotels Ltd, but the company said on Tuesday that she will be replaced only three years after she finally sat down in the corner office. NATIONAL POST * Prime Minister Stephen Harper would seek a constitutional amendment to give the House of Commons primacy over any future elected Senate, said Harper's point-person on reform in the Senate. FINANCIAL POST * Car loans drove Canadians to record debt in the fourth quarter of 2012 as the pace of consumer borrowing began to pick up after a brief lull, according to a survey released on Tuesday.   China CHINA SECURITIES JOURNAL -- Top Chinese steel maker Baoshan Iron & Steel Co said it had so far bought back 424 million shares in response to a regulatory call last year for listed companies to buy back their own shares to support the stock market. CHINA DAILY (www.chinadaily.com.cn) -- Chinese health authorities have launched a campaign to address abusive practices in the country's growing assisted reproductive technology industry. -- Beijing weather authorities have launched a "fireworks index" to inform residents celebrating the upcoming Spring Festival holiday whether conditions are appropriate for setting off fireworks. SHANGHAI DAILY -- Ten people who illegally detained citizens trying to take complaints to the central government have been jailed. The defendants allegedly intercepted people coming to Beijing to complain about land seizures. The practice is believed to be common in China, the report said. -- Clothing retailer H&M has been fined by the Shanghai city market watchdog for selling substandard shoes. PEOPLE'S DAILY -- China will announce the names of the 10 most polluted cities in the country every month, said Wu Xiaoqing, vice minister of environmental protection.   Fly On The Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades Allergan (AGN) upgraded to Outperform from Market Perform at JMP SecuritiesCarlyle Group (CG) upgraded to Buy from Neutral at CitigroupDell (DELL) upgraded to Neutral from Sell at CitigroupExpress (EXPR) upgraded to Overweight from Neutral at JPMorganGannett (GCI) upgraded to Buy from Neutral at CitigroupMarsh & McLennan (MMC) upgraded to Buy from Neutral at Goldman Downgrades Arch Coal (ACI) downgraded to Neutral from Overweight at JPMorganAshford Hospitality (AHT) downgraded to Neutral from Outperform at RW BairdC.H. Robinson (CHRW) downgraded to Underperform from Buy at BofA/MerrillCentene (CNC) downgraded to Neutral from Buy at CitigroupCharter (CHTR) downgraded to Market Perform from Outperform at Raymond JamesExpedia (EXPE) downgraded to Sector Perform from Outperform at RBC CapitalHologic (HOLX) downgraded to Neutral from Buy at BofA/MerrillIntercontinental Hotels (IHG) downgraded to Neutral from Outperform at RW BairdMarcus (MCS) downgraded to Neutral from Outperform at RW BairdMcClatchy (MNI) downgraded to Neutral from Buy at CitigroupMinerals Technologies (MTX) downgraded to Neutral from Overweight at JPMorganPebblebrook Hotel (PEB) downgraded to Neutral from Outperform at RW BairdSandRidge Permian Trust (PER) downgraded to Sector Perform at RBC CapitalSilgan Holdings (SLGN) downgraded to Neutral from Buy at CitigroupSirius XM (SIRI) downgraded to Neutral from Outperform at MacquarieSohu.com (SOHU) downgraded to Neutral from Outperform at MacquarieTrimble Navigation (TRMB) downgraded to Neutral from Overweight at JPMorganValidus (VR) downgraded to Neutral from Conviction Buy at GoldmanVascular Solutions (VASC) downgraded to Hold from Buy at Benchmark Co. Initiations Advanced Energy (AEIS) initiated with a Buy at CitigroupFinish Line (FINL) initiated with a Neutral at RW BairdFirst Solar (FSLR) initiated with a Buy at CitigroupFoot Locker (FL) initiated with an Outperform at RW BairdGlobal Eagle (ENT) initiated with an Overweight at Piper JaffrayMEMC Electronic (WFR) initiated with a Buy at CitigroupSunPower (SPWR) initiated with a Buy, added to Top Picks Live at CitigroupSuntech (STP) initiated with a Sell at CitigroupTesaro (TSRO) initiated with a Buy at Deutsche BankThor Industries (THO) initiated with an Outperform at BMO CapitalTrina Solar (TSL) initiated with a Neutral at CitigroupYingli Green (YGE) initiated with a Neutral at Citigroup HOT STOCKS Liberty Global (LBTYA) to acquire Virgin Media (VMED) for $23.3BSilver Wheaton (SLW) acquired some gold production from two Vale (VALE) mines for $1.9B Biogen (BIIB) to acquire full rights and control of Tysabri from Elan (ELN)Disney (DIS) said confident about FY13, ability to create long-term growthFord (F) announced 900 dealers to be certified to sell plug-in EVs by springHome Depot (HD) to hire 80,000 associates for spring seasonChipotle (CMG): Confident in continued ability to drive sales growth in 2013Sees 2013 comparable restaurant sales flat to low single digits3M Company (MMM) authorized $7.5B share repurchase programMoody's affirmed MetLife's (MET) ratings, long-term ratings' outlook to negativeFitch: Yum! Brands (YUM) ratings not immediately impacted by China weaknessEquity Residential (EQR) sees Q1 FFO 62c-66c, consensus 66cZynga (ZNGA) sees FY13 EBITDA margin 0%-10%Said no full year 2013 year guidance, cites platform transition Netflix (NFLX), Queen Latifah's Flavor Unit Entertainment announced multi-year deal EARNINGS Companies that beat consensus earnings expectations last night and today include:Elan (ELN), W.R. Grace (GRA), KKR Financial (KFN), Horace Mann (HMN), Genworth (GNW), Jive Software (JIVE), Take-Two (TTWO), Hanesbrands (HBI), Panera Bread (PNRA), Hain Celestial (HAIN), Zynga (ZNGA) Companies that missed consensus earnings expectations include:AU Optronics (AUO), C.H. Robinson (CHRW), Stanley Furniture (STLY), Chipotle (CMG), Expedia (EXPE) Companies that matched consensus earnings expectations include:Myriad Genetics (MYGN), Aflac (AFL), Fiserv (FISV), CME Group (CME), Thoratec (THOR) NEWSPAPERS/WEBSITES U.S. stock exchanges, banks, trading firms and mutual funds want the SEC to study the effect of pricing some small stocks in nickels and dimes, rather than in pennies, the Wall Street Journal reportsMicrosoft’s (MSFT) contribution to the Dell (DELL) buyout is a $2B gamble that the software firm can boost up one of its major customers without upsetting all the others, the Wall Street Journal reportsThe Federal Reserve said that one of its internal websites had been briefly breached by hackers, though no critical functions of the U.S. central bank were affected by the intrusion, Reuters reportsSoftbank (SFTBF) will issue $3.2B in corporate bonds, the biggest ever by a non-financial Japanese firm to retail investors, to convert part of the $17.7B in short-term loans used to purchase Sprint Nextel (S) to longer term debt, sources say, Reuters reportsWith Michael Dell’s (DELL) deal to take his company private, he now faces the larger challenge of turning a business falling behind in personal computers into a provider of high-margin cloud-computing tools and services, Bloomberg reportsAutomakers from Ford (F) to Audi (VLKAY) and Jaguar Land Rover (TTM) are using record amounts of aluminum to replace heavier steel, providing relief to producers of the metal facing excess supplies and depressed prices, Bloomberg reports SYNDICATE Boise Cascade (BCC) 11.765M share IPO priced at $21.00Celldex (CLDX) 12M share Secondary priced at $7.50MagnaChip (MX) 5M share Secondary priced at $14.50NCI Building Systems (NCS) files to sell 54.14M shares of common stock for holdersRose Rock Midstream (RRMS) files to sell 2M common units for holdersSilver Bull (SVBL) proposes public offering of unitsTICC Capital (TICC) files to sell 3M shares of common stockWNS Holdings (WNS) files to sell 12.6M ADSs for Warburg Pincus

01 октября 2012, 15:34

Frontrunning: October 1

Trade Slows Around World (WSJ) Debt limit lurks in fiscal cliff talks (FT) Welcome back to the eurozone crisis (FT, Wolfgang Munchau) Euro Leaders Face October of Unrest After September Rally (Bloomberg) Dad, you were right (FT) 25% unemployment, 25% bad loans, 5% drop in Industrial Production, and IMF finally lowers its 2013 Greek GDP forecast (WSJ) Global IPOs Slump to Second-Lowest Level Since Financial Crisis (Bloomberg) France's Hollande faces street protest over EU fiscal pact (Reuters) EU Working to Resolve Difference on Bank Plan, Rehn Says (Bloomberg) China manufacturing remains sluggish (FT) Samaras vows to fight Greek corruption (FT) ... and one of these days he just may do it Leap of Faith (Hssman) Germany told to 'come clean’ over Greece (AEP) Overnight Media Digest WSJ * Xstrata Plc's board of directors recommended Monday that its shareholders vote in favor of Glencore International Plc's revised merger proposal after making several revisions aimed at breaking a logjam over executive pay that has threatened to derail the historic tie-up. * Energy producer Dynegy Inc is set to leave bankruptcy protection on Monday as a much leaner company, but perhaps one more vulnerable to a takeover. * Nokia Oyj, looking to increase use of its mapping software, will unveil a new deal with Oracle Corp intended to give Oracle's customers access to Nokia's growing vault of map data and location services. * Global trade is stalling, dimming prospects that exports will buoy the U.S. economy in the coming months. * Accounting rule makers are on the verge of rolling back a widely assailed provision that counterintuitively adds to U.S. banks' profits when their debt looks riskier to investors and penalizes them when it looks safer. * LG Electronics Inc and Whirlpool Corp have agreed to settle patent infringement disputes related to refrigerators, concluding years of patent litigation between the two companies. * A start-up called FreedomPop, backed by a founder of Skype, is set to launch a wireless data service that promises to save customers hundreds of dollars a year, at a time when cellphone bills are chewing up a growing share of the household budget. * Private-equity firm First Reserve Corp has formed a new venture to build pipelines throughout the booming oil fields of North Dakota, an investment aimed at resolving transportation bottlenecks plaguing energy producers in the region.   FT XSTRATA CLOSE TO BACKING GLENCORE OFFER Xstrata is preparing to recommend the latest merger offer from Glencore on Monday. BERLIN AND PARIS UNITE ON EADS HOLDINGS Germany and France have agreed a common position on the tie-up of EADS and BAE Systems. GRADUATES TURN AWAY FROM WALL ST More graduates are opting for careers outside investment banking as the pull of big bonuses is replaced by job insecurity in the industry. PRIVATE EQUITY MANAGERS FEAR TAX HIT Private equity fund managers are so worried about changes to the way their income is taxed in the US that some are trying to rewrite agreements with investors. NEWS CORP BOOSTS COMPLIANCE TEAMS News Corp has hired a senior official from the Securities and Exchange Commission and a former federal prosecutor to lead new compliance units. CASTLE TRUST EYES CASH-STRAPPED HOMEBUYERS The former head of the City of London watchdog is to chair a new company that offers cash-strapped homebuyers interest-free loans. GLOBAL ETF SECTOR IN LINE FOR RECORD YEAR Investors are on course to put a record amount of money into exchange-traded funds. OIL GROUPS TUSSLE FOR COLOMBIA LICENCES Some of the world's largest oil companies are jostling for licences to explore for shale gas in Colombia. MILIBAND SOUNDS WARNING NOTE ON BANKS Ed Miliband caused concern in the City of London on Sunday when he warned that a future Labour government might split Britain's biggest banks. US CANDIDATES' FUTURES UP FOR DEBATE Barack Obama is scheduled to spend Monday holed up in Nevada for intensive debate practice. PENSION INJECTIONS FIGHT TO TRIM SHORTFALLS Britain's largest employers have poured roughly 175 billion pounds ($282.59 billion) into their underfunded pension schemes over the past decade.   NYT * A tax break for wage earners for which the White House campaigned hard last winter now finds little support in Washington, as Congress struggles with deficits. * Six major American banks were hit in a wave of computer attacks last week, by a group claiming Middle Eastern ties, that caused Internet blackouts and delays in online banking. * While Greece agreed last week to cut pensions, Spain said it would raise its payouts, a stark example of why Europe's debt and deficit problems have proved so difficult to resolve. * Canadian auto workers at Chrysler Group ratified a new contract with the company, the auto union said Sunday. * Many auto executives were not that enthusiastic about battery-powered cars at their outset, and now that sales of electric vehicles made by Tesla Motors Inc and Renault have been disappointing, some car manufacturers are playing down the technology. * A few months after Governor Andrew Cuomo was poised to approve hydraulic fracturing in several struggling New York counties, his administration is reversing course and starting the regulatory process over, garnering praise from environmental groups and stirring anger among industry executives and upstate landowners. * A special media court on Sunday found the Tehran bureau chief of the Thomson Reuters news agency guilty of "spreading lies" against the Islamic system for a video script that briefly described a group of women involved in martial arts training as killers.   Canada THE GLOBE AND MAIL * A research paper written for the Center for Security and Defence Studies at Carleton University estimates the cumulative effect of the Harper government's strategic review and the overlapping deficit reduction action plan will carve up to $2.5-billion out of the nearly C$21-billion National Defence budget by 2014-2015. * The federal government has issued a tender calling for the design of low-emission Canadian Coast Guard ships that would incorporate hydrogen fuel cell technology. * The fallout from an E. coli contamination at an Alberta slaughterhouse continues to spread, with more than 1,100 products now being recalled as Premier Alison Redford urges consumers to keep buying her province's beef. Reports in the business section: * Unionized workers at Chrysler's Ontario plants voted to accept a new contract on Sunday, marking the Canadian Auto Workers' successful negotiation of fresh agreements with the three big U.S. auto makers. * British Columbia's softwood lumber industry is finally on the comeback trail, fueled by a recovery in U.S. housing starts and steady demand from China, according to analysts. NATIONAL POST * Theater and art impresario David Mirvish says he plans to tear down Toronto's Princess of Wales Theater and replace it with three condo towers. * The Toronto Transit Commission has voted to contract out a segment of its cleaning force in order to save money, angering existing transit employees. FINANCIAL POST * Federal NDP Leader Thomas Mulcair told Toronto's business community that he would support the establishment of a West-East pipeline provided that project developer Enbridge pay for the environmental costs.   European economic update: Sweden Manufacturing PMI 44.7 – lower than expected. Consensus 46.4. Previous 45.1. Norway PMI 48.9 – lower than expected. Consensus 49.5. Previous 48.7. Hungary Manufacturing PMI 52.5. Previous 49.6. Poland Manufacturing PMI 47.0. Previous48.3. Spain Manufacturing PMI 44.5 – higher than expected. Consensus 44.2. Previous 44.0. Czech Republic Manufacturing PMI 48.0. Previous 46.7. Switzerland Manufacturing PMI 43.6 – lower than expected. Consensus 47.5. Previous 46.7. Italy Manufacturing PMI 45.7 – higher than expected. Consensus 44.0. Previous 43.6. France Manufacturing PMI 42.7. Previous 42.6. Germany Manufacturing PMI 47.4 – higher than expected. Consensus 47.3. Previous 47.3 UK Manufacturing PMI 48.4 – lower than expected. Consensus 49.0. Previous 49.5. Fly on the Wall 7:00 AM Market Snapshot ANALYST RESEARCH Upgrades Allscripts (MDRX) upgraded to Buy from Hold at ISI GroupBrightcove (BCOV) upgraded to Top Pick from Outperform at RBC CapitalCallaway Golf (ELY) upgraded to Strong Buy from Market Perform at Raymond JamesColdwater Creek (CWTR) upgraded to Overweight from Neutral at Piper JaffrayDreamWorks (DWA) upgraded to Buy from Neutral at Janney CapitalFinish Line (FINL) upgraded to Neutral from Underperform at Sterne AgeeInterActiveCorp (IACI) upgraded to Buy from Hold at NeedhamMyriad Genetics (MYGN) upgraded to Overweight from Neutral at Piper JaffrayRudolph Tech (RTEC) upgraded to Outperform from Neutral at Credit Suisse Downgrades Alliant Techsystems (ATK) downgraded to Hold from Buy at JefferiesAllstate (ALL) downgraded to Market Perform from Outperform at FBR CapitalBaidu (BIDU) downgraded to Hold from Buy at JefferiesBoston Beer (SAM) downgraded to Sell from Neutral at UBSBrooks Automation (BRKS) downgraded to Underperform from Neutral at Credit SuisseCheck Point (CHKP) downgraded to Sector Perform from Outperform at RBC CapitalCitigroup (C) downgraded to Neutral from Buy at Sterne AgeeCommVault (CVLT) downgraded to Sector Perform from Outperform at RBC CapitalFifth Third (FITB) downgraded to Market Perform from Outperform at Keefe BruyetteFortinet (FTNT) downgraded to Sector Perform from Outperform at RBC CapitalForum Energy (FET) downgraded to Market Perform from Outperform at FBR CapitalGilead (GILD) upgraded to Outperform from Market Perform at BernsteinM.D.C. Holdings (MDC) downgraded to Underperform from Neutral at Credit SuisseMercury Computer (MRCY) downgraded to Hold from Buy at JefferiesMicrosoft (MSFT) downgraded to Sector Perform from Outperform at RBC CapitalMolson Coors (TAP) downgraded to Underweight from Equal Weight at Morgan StanleyPulteGroup (PHM) downgraded to Neutral from Outperform at Credit SuisseQuality Systems (QSII) downgraded to Underweight from Equal Weight at Morgan StanleyRealPage (RP) downgraded to Outperform from Top Pick at RBC CapitalSprint (S) downgraded to Market Perform from Outperform at Raymond JamesTexas Instruments (TXN) downgraded to Neutral from Positive at SusquehannaVMware (VMW) downgraded to Sector Perform from Outperform at RBC CapitalWendy's (WEN) downgraded to Neutral from Buy at Janney Capital Initiations ITT Exelis (XLS) initiated with a Buy at JefferiesYelp (YELP) initiated with an Equal Weight at BarclaysZillow (Z) initiated with an Equal Weight at Barclays HOT STOCKS Glencore (GLNCY), Xstrata (XSRAY) reach agreement on final terms of mergerOlympus (OCPNY) and Sony (SNE) to form business and capital allianceTransocean (RIG) said Brazil injunction order partially suspendedSears (SHLD) announced tax services agreement with Jackson HewittU.S. Steel (X) reached collective bargaining agreements with United SteelworkersCanadian Pacific (CP) reached tentative agreement with United SteelworkersFirst Reserve sold majority interest in Acteon to KKR (KKR)Ball (BLL) to acquire extruded aluminum packaging business in MexicoDOJ cleared SAP (SAP) acquisition of Ariba (ARBA)Caterpillar (CAT) to raise prices on most machines by 0%-3%, effective January 2013Abbott (ABT) confirmed FDA approval of HUMIRA for treatment of ulcerative colitis FDA approved heart defibrillator from Boston Scientific (BSX)/Cameron HealthSunshine Heart (SSH) announced conditional approval of IDE from the FDA Hertz (HTZ) franchised Swiss business to Emil Frey GroupSaks (SKS) opened store in Almaty, Kazakhstan Hillenbrand (HI) subsidiary acquired software solutions provider HMISInformatica (INFA) announced public takeover offer for Heiler Software AGWi-LAN (WILN) acquired a global portfolio of over 150 patents and patent applications from Alvarion (ALVR) for $19M. Cal-Maine Foods (CALM) sees FY13 feed costs near record high levels EARNINGS/GUIDANCE Companies that beat consensus earnings expectations last night and today include:Cal-Maine Foods (CALM) Companies that matched consensus earnings expectations include:Synergetics (SURG) NEWSPAPERS/WEBSITES Global trade is stalling, dimming prospects that exports will help the U.S. economy in the coming months. The World Trade Organization projected the global volume of trade in goods would expand only 2.5% this year, down from 5% last year and nearly 14% growth in 2010. A Dutch government agency, the CPB Netherlands Bureau for Economic Policy Analysis, estimates it fell outright in June and July, the Wall Street Journal reportsEuro zone manufacturing put in its worst performance in the three months to September since the depths of the recession, pointing to a new recession. Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) rose to 46.1 in September from 45.1 in August and above the preliminary reading of 46.0. But that was its 14th month below the 50 mark that divides growth from contraction. The output index rose to 45.9 from August's 44.4 but that was the seventh month of decline, Reuters reportsBanks are charging U.S. consumers the lowest interest rates on new car loans since the Fed began surveying them in 1971. That rates helped ignite a 9.5% jump in light-vehicle sales last month and maintained the fastest pace since the U.S. government’s “cash for clunkers” program three years ago, according to analysts surveyed by Bloomberg.European Aeronautic, Defence & Space Co.’s (EADSY) major shareholder Lagardere SCA called the terms of the proposed merger with BAE Stystems (BAESY)  “unsatisfactory,” Bloomberg reports BARRON’S Goldman Sachs (GS) shares could rally 25% in the next yearOpko (OPK) shares are pinned to success with new diagnostic tests Kraft's (KFT) Mondelez spin-off is probably a better buyNike (NKE) shares should continue to underperform Steelcase (SCS) shares could rise 15% or more in the next year Transocean (RIG): Brazilian judicial waters need to calm downRIM (RIMM) shows signs of life but still faces a difficult road SYNDICATE B&G Foods (BGS) files to sell 3.63M shares of common stockInfinity Pharmaceuticals (INFI) files to sell 11.42M shares of common stock for holdersNavidea (NAVB) files to sell 300K shares of common stock for holdersMattress Firm (MFRM) files to sell 4.73M shares for holdersUranium Resources (URRE) files to sell 53.11M shares of common stock for holdersVista Gold (VGZ) files to sell 8.3M shares of common stock for holders ACTIVIST/PASSIVE FILINGS Gabelli reports 5.01% stake in Nabi Biopharmaceuticals (NABI)Peltz's Trian lowers stake in Legg Mason (LM) to 9.54% after transfer of shares