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Friday, 27 Feb 2015
21:30
Source: RANsquawk
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Friday, 27 Feb 2015
21:05

- On the other hand, 2016 BRENT forecast remains unchanged at USD 100/bbl.

Source: RTRS
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Friday, 27 Feb 2015
21:00

US equities all closed in minor negative territory amid several mixed economic data releases, with a strong University of Michigan Sentiment (95.4 vs. Exp. 94.0) and Q4 GDP (2.2% vs. Exp. 2.0%) growth revised down less-than-expected, while US Pending Home Sales came in slightly lower-than-expected (1.7% vs. Exp. 2.0%) but still contributed a rise to its highest level in 18 months. Today’s notable downbeat data came in the form of US Chicago PMI (45.8 vs. Exp. 58.0), which printed below the lower bound of estimates to post its lowest figure since July 2009. Despite the mixed data releases and subsequent selling pressure in stocks, US indices still posted some of their best monthly gain in years, with both the DJIA and the S&P 500 enjoying their best month since October 2011 and the NASDAQ-100 posting its biggest monthly gain since January 2012. In stock specific stories, Monster Beverage (+13.13%) was the session’s best performer after announcing a deal with Coca-Cola (+1.98%) as well as positive earnings, while Bank of America Merrill Lynch (-1.50%) tumbled after being downgraded by UBS and announcing the departure of two of their board members and their CEO. 

US Treasuries posted the first weekly gain in February to sign the month off in positive territory as mixed data reinforced investors’ expectation that the Fed will keep rates lower for longer, with the 10y yield holding below the 2% mark. The move was further exacerbated by weakness seen in equities and month-end position squaring, with analysts at IFR noting several large block buyers in the belly of the curve heading towards the CBOT pit close. 

In the commodities market, Brent and WTI crude futures both rallied heading towards the NYMEX pit close amid touted month-end buying, with crude prices posting their first positive monthly close since June. Oil prices had come under some selling pressure following the Baker Hughes rig count, which showed a relatively small drop in active rigs in the US, however the release still posted its 12th consecutive fall, which led the total rig count to tumble to its lowest level since June 2011.

Finally, the DJIA finished down 0.45% at 18,132.38, the S&P 500 finished down 0.30% at 2,104.49 and the NASDAQ-100 finished down 0.48% at 4,440.67.

Source: RANsquawk
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Friday, 27 Feb 2015
20:55
Analysis details: 21:00

- As a guide, EMC own a 33% stake in VMWARE.

Reaction details: 21:00

- In an immediate reaction, EMC shares fell 0.59% from USD 29.02 ro USD 28.85.

Source: RTRS
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Friday, 27 Feb 2015
20:54
Reaction details: 20:56

- In an immediate reaction, ROVI shares rose 10.5% from USD 23.95 to USD 26.45.

Source: RTRS
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Friday, 27 Feb 2015
20:53

TIME: 2054GMT/1504EST

NEWS: Sources indicate that Rovi (ROVI) is looking to hire a financial adviser as a result of pressure from activist investors and PE interest

REACTION: In an immediate reaction, ROVI shares rose 10.5% from USD 23.95 to USD 26.45

 

TIME: 1804GMT/1304EST

NEWS: Sprint's (S) CEO buys 5.08mln shares for USD 4.92-4.94/shr

REACTION: In an immediate reaction, S shares rose 3.1% from USD 4.98 to USD 5.14

 

TIME: 1745GMT/1245EST

NEWS: RANsquawk sources note reports that Stryker (SYK) may bid for Smith & Nephew (SNN) - Unconfirmed

REACTION: In an immediate reaction, SNN shares rose 1.9% from USD 36.74 to USD 37.50

 

TIME: 1701GMT/1201EST

NEWS: Clayton Williams (CWEI) downgraded from buy to neutral at Roth Capital

REACTION: In an immediate reaction, CWEI shares fell by 1.3% from USD 51.29 to USD 50.63

 

TIME: 1505GMT/1005EST

NEWS: RANsquawk sources note negative reports for Kythera Biopharmaceuticals (KYTH) - Unconfirmed

REACTION: In an immediate reaction, KYTH shares tumbled 1.9% from USD 42.42 to USD 41.64

 

TIME: 1451GMT/0951EST

NEWS: Yum Brands (YUM) is to apply a by-law amendment this spring concerning proxy access

REACTION: Over the following 5 minutes, YUM shares rose 1.0% from USD 79.79 to USD 80.59

 

TIME: 1449GMT/0949EST

NEWS: Kyle Bass is said to have filed a second patent challenge against Acorda (ACOR)

REACTION: In an immediate reaction, ACOR shares fell 2.1% from USD 34.88 to USD 33.45

 

TIME: 1436GMT/0936EST

NEWS: BMO Capital out positive for ZIOPHARM Oncology (ZIOP) saying management confirmed they are discussing with large pharmaceuticals over optimization of value in Car-T

REACTION: In an immediate reaction, ZIOP shares rose 5.9% from USD 11.29 to USD 11.95

 

TIME: 1347GMT/0847EST

NEWS: Volkswagen (VOW3 GY) FY op. profit EUR 12.7bln vs. Exp. EUR 12.5bln, FY revenue EUR 202.5bln vs. Exp. EUR 200bln, but the Co. cannot promise that this year will be positive. RANsquawk analysts put particular focus on the outlook comment, after having earlier mentioned that VOW3 GY could report ahead of their scheduled March 12th release

REACTION: Over the following 11 minutes, VOW3 GY shares fell 7.2% from EUR 228.23 to EUR 211.77

 

TIME: 1243GMT/0743EST

NEWS: Piaggio (PIA IM) FY EBITDA EUR 159.3mln vs. Prev. EUR 146.8mln

REACTION: In an immediate reaction, PIA IM shares rose 1.2% from EUR 2.84 to EUR 2.88

 

TIME: 1220GMT/0720EST

NEWS: Heidelberger Druck (HDD GY) report stronger balance sheet due to re-structuring of pensions

REACTION: In an immediate reaction, HDD GY shares rose 2.0% from EUR 2.14 to EUR 2.19, before extending the move higher by a total of 7.8% to EUR 2.40 over the following 35 minutes

Source: RANsquawk
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Friday, 27 Feb 2015
20:52
  • RANsquawk sources notes takeover talk for Apache (APA) with Exxon Mobil (XOM) a touted bidder – Unconfirmed.
  • RANsquawk sources report ACS (ACS SM) may raise their stake in Hochtief (HOT GY), according to Handelsblatt – Unconfirmed.
  • ITV (ITV LN) said that takeover discussions with Dutch media group Talpa could or could not result in a deal being made.
  • RANsquawk sources note takeover talk for Netflix (NFLX), with Comcast (CMCSA) a touted bidder – Unconfirmed.
  • RANsquawk sources note reports that Stryker (SYK) may bid for Smith & Nephew (SNN) – Unconfirmed.
Source: RANsquawk
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Friday, 27 Feb 2015
20:47
Source: Hammerstone's Market Talk Forum
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Friday, 27 Feb 2015
20:37
Source: Sky News
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Friday, 27 Feb 2015
20:36

JPY shorts at   47,512 vs 49,091 shorts prior week
CAD shorts at 36,245 vs. 32,842 shorts prior week
EUR shorts at  178,000 vs. 186,000 shorts prior week
CHF shorts at  5085 vs. 6044 shorts prior week
AUD shorts at 63,154 vs. 53,831 shorts prior week
GBP shorts at 21,870 vs. 28,798 shorts prior week
 

Source: CFTC
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Friday, 27 Feb 2015
20:29
Friday, 27 Feb 2015
20:06

Says:
- Rates should not be increased at every FOMC meeting partially because downsizing the size of the Fed's balance sheet will tighten liquidity

Analysis details: 20:14

- Markets are currently pricing in a 16% chance of a rate hike in June as opposed to a 53% chance of a hike in September, according to Fed funds futures prices.

Source: RTRS
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Friday, 27 Feb 2015
20:06

- Price their USD 850mln, 2.15% 5y issuance +67bps. 

- Price their USD 550mln 5y FRN issuance at +52bps. 

Source: IFR
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Friday, 27 Feb 2015
20:03
Reaction details: 20:05

- In an immediate reaction, DISCA shares fell 0.40% from USD 32.35 to USD 32.22, trades USD 32.27 (-0.56%) last.

Source: BBG
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Friday, 27 Feb 2015
19:48
Analysis details: 19:58

- Furthermore, today's Chicago PMI release showed an unexpected contraction for the month of January and printed at its lowest level since 2009.

Source: RANsquawk
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Friday, 27 Feb 2015
19:40
Source: BBG
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Friday, 27 Feb 2015
19:40
Source: RANsquawk
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Friday, 27 Feb 2015
19:31
Source: RTRS
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Friday, 27 Feb 2015
19:27
Analysis details: 19:31

- This is largely inline with the stance of the Fed who have reiterated on many occasions that the path of rates will be determined by data.  

- As a guide, Stanley Fischer is Vice Chairman at the Federal Reserve, a voter on the FOMC and is seen as a soft dove.

Source: RTRS
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Friday, 27 Feb 2015
19:20
Source: RANsquawk
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Friday, 27 Feb 2015
19:17
Analysis details: 19:27

- Oil prices had come under some selling pressure following the Baker Hughes rig count, which showed a relatively small drop in active rigs in the US, however the release still posted a decline in rigs, its 12th consecutive fall, which has led the total rig count to tumble to its lowest level since June 2011 amid the continued global imbalance between surging supplies led by US shale drillers and weakened demand led by economic slowdowns in China, Japan, and Europe. 

Source: RANsquawk
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Friday, 27 Feb 2015
19:07
Analysis details: 19:14

- The hike of 50 bps is in line with the median market expectation.

Source: BBG
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Friday, 27 Feb 2015
19:01
Friday, 27 Feb 2015
18:59
Tags: ECB - Forex - US Session
Source: RTRS
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Friday, 27 Feb 2015
18:43
Analysis details: 18:47

- These comments are not surprising as BoJ officials continuously look to reassure the markets of their commitment and belief that QE is effective in moving back towards their monetary policy target. 

Source: BBG
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