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•
Standard Chartered Q3 update, rev growth softening, op profit mixed, wholesale margin pressure
(trading -1.3%)
•
Nomura 02 net income miss, revs in line, comm & fees better, profit below, trading vols decline
(trading -0.67%)
•
Man SE 03 revs light, net income loss worse, op profit in line, maintains FY, spec situation (VOW)
(trading +0.20%)
•
Swedish Match Q3 net income light, sales in line, snus & snuff op margin light, cautious outlook
(trading -5.5%)
•
Verbund 03 revs & EBITDA decline y/y, sees higher FY EBITDA, keeps group targets (trading
+1.1%)
•
Eramet 03 revs decline, given nickel market conditions sees H2 significantly lower in H1 (trading
+4.3%)
•
Wolfson Q3 revs in line, EPS and underlying below, sees Q4 revs at the low end of range (trading -
1.2%)
•
Vivendi agrees to buy out Canal+ from Lagardere for €1.02bn (trading +0.20%)
•
India raises key rate for 24° time in last 2 months as expected (warns inflation likely to remain
elevated)
•
Komatsu (6301 JP) cut guidance last evening (mining and weak US construction) (closed -8.06%)
•
Hitachi Construction Machinery (6305 JP) H1 net -34% y/y missing estimates (closed -5.72%)
•
China National Petroleum (CNPC) said to be near buying Petrobras assets in Peru for over $2
billion
•
India raises key rate for 74 time in last 2 months as expected (warns inflation likely to remain
elevated)
•
Komatsu (6301 JP) cut guidance last evening (mining and weak US construction) (closed -8.06%)
•
Hitachi Construction Machinery (6305 JP) H1 net -34% y/y missing estimates (closed -5.72%)
•
China National Petroleum (CNPC) said to be near buying Petrobras assets in Peru for over $2
billion
Leading European Sectors: Oil & Gas +1.62%, Utilities +0.90%, Healthcare +0.45%
Lagging European Sectors: Banks -0.35%, Retail -0.29%, Autos/Parts -0.29%
EPIQ rev growth — IDTI mixed — DENN sees lower end
GGP posted profit - PCL profit up outlook light — RVBD eps beats
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PMCS guidance missed — NCLH raises guidance — SANM rev forecast below
IVAC mixed — JLL eps/revs beat — HIG profit jumped
MAS sales topped — CR lowered top end — WPP earnings light
CHE cuts eps view — AGNC eps miss — LINE wont include Berry in forecast rest of yr
Notable Options Activity Yesterday:
PEP ($84.61 +1.5%) 5000 December $90 calls were purchased for $0.12 shortly after the open, and by
the end of the day on Monday, a total of 13,529 were on the tape, with the calls closing $0.25 - $.29.
Total call volume in the name was over 46,000, which compares to an average daily volume of just
5100.
RLGY (42.71 ooenina cust buvina nov and dec 50 calls 2500 nov 50 calls just bot for .25 2500 dec 50
calls bot earlier for .80 earnings 11.4
Secondaries (announced/priced): PCL, SLG, SHO, CLNY, ECOM, DATA, FNB, APAM, BKU, FSA IM
IPO's: Tarkett SA investor education begins, Numericable books covered (books close Nov 7), Just
Retirement Group (JRG LN) price range 200p-250p
US Key Research:
Barcap reinstates CCG (ew) & initiates OCIP/CHMI (ow's), Citi upgrades ONTX (buy)
• Stifel initiates GME (buy), Bofa & CS downgrades BBVA, Key initiates BBG (buy)
• BMO initiates LABL (op), Janney initiates CTIC (buy), Bemstein upgrades YHOO
• Wells downgrades KORS, RBC cuts UTL, DB downgrades WPP, Raja cuts ONB
FBR initiates IPG/CBS/MHFI (op's), Canaccord downgrades VOLC, GS upgrades MKTO (buy)
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Europe Key Research:
• Nomura initiate VOLVB SS (n), JPM upgrade HNR1 GY
• Barc initiate KNEBV FH (uw), initiate SCHP VX (ew), downgrade DIA SM
• Liberum upgrade BVS LN, RDW LN, ING upgrade BINCK NA
• GS upgrade ALM SM, Berenberg downgrade ITV LN, upgrade TDC DC
SocGen upgrade CGM FP, BKIA SM, CS downgrade BBVA SM
• Citi upgrade IBE SM, DBK downgrade S92 GY, MAO downgrade SPM IM
• KepChev downgrade MB IM. MS upgrade ABBN SW, Lampe downgrade SKYD GY
• Oddo downgrade ML FP, RayJ upgrade TNET BB, Pareto downgrade MHG NO
Nordea upgrade ASSAB SS, Medio upgrade SPM IM, CBK downgrade DPW GY
Reporting Pre-Open: ACT, ADM, AET, AGN, AME, APD, CMI, CNX, ECL, ETR, FIS, GT, HCP, HRS,
JCI, LLL, LYB, MWV, OXY, PEW PCAR, PFE, VLO, VRTX, WM, X, XRAY, XYL, ACI, AGCO, ALLT,
ALR, AMTD, CAS, CBR, CCMP, CGEN, CIE, CMLS, CRS, CRVL, CRY, CVLT, CYNO, DAN, DDD,
DHX, DIN, EXAS, FDP, FLWS, GK, GLT, GOV, HSII, HUN, IBTX, ICON, IIVI, JBLU, LBY, LCAV,
MDC, MSO, NCI, PAG, PROV, RTIX, SCHN, SCOR, SFI, SNH, SPAR, ST, STBA, SUI, TECH, TRW,
UBSI, UDR, UTHR, VSH, WDR
Reporting Post-Close: AFL, AMP, BIDU, BXP, CBG, EA, EIX, FISV, GILD, GNW, KIM, RRC, WU,
ACHC, ACMP, ACPW, AEGN, AFG, AJG, ANEN, ARTC, AZPN, BBOX, BGFV, BTUI, BUSE, BWLD,
BXMT, CACI, CALX, CAP, CBI, CBT, CCUR, CERS, CLD, CRL, CRUS, CSFL, CSGS, CVD, CYNI,
DAC, DLB, DLR, DWA, EEP, ENTR, EXAR, FALC, FEIC, FLEX, FSP, GPRE, HCC, HGR, HIW, IACI,
INVN, IPHI, ISSI, KFRC, KTCC, KWR, LAND, LMAT, LNKD, LOCK, LOPE, MOVE, MRCY, MWA,