DAILY US EQUITY OPENING NEWS - EARLY EDITION: Apache (APA) has reportedly received an unsolicited takeover approach and is to reject the initial bid, according to sources

• This report contains after-market and pre-market company news, announcements, M&A flow and dividends for US equities up to 1300GMT/0800EST


• For all after-market and pre-market US Company earnings which have been reported up to 1300GMT/0800EST for all US listed companies with a market cap of over USD 1bln, please refer to theDAILY US EQUITY EARNINGS REPORT – EARLY EDITION


• All US corporate earnings which are reported between 1300GMT/0800EST and 1400GMT/0900EST open will be included in the DAILY US EQUITY EARNINGS REPORT – FINAL EDITION posted at 1400GMT/0900EST

DJIA

Boeing (BA) – Co. has received an order from Jet Airways for 75 737 MAX 8 planes valued at USD 8bln. (BBG)

Cisco (CSCO) – Co. has created a partnership with Ericsson (ERIC) in order to create next generation networks. (BBG)

DuPont (DD) – Co. has stated that Edward Breen is to become the Co.’s Chair and CEO immediately. (BBG)

General Electric (GE) – Sankaty Advisors has purchased the Co.’s Australia and New Zealand commercial lending and leasing units for AUD 1.9bln. (BBG)

S&P 500

Apache (APA) – Co. has reportedly received an unsolicited takeover approach and is to reject the initial bid, according to sources. (BBG)

Chubb (CB) – The EU has approved the purchase of the Co. by ACE (ACE). (BBG)

Endo International (ENDP) – Co. has stated that they have entered into a share buyback program for as much as USD 250mln. (BBG)

Ford (F) – UAW could receive a larger ratification bonus from the Co. than General Motors (GM) offered, according to sources. (BBG)

General Motors (GM) – According to Barron’s, Co. shares could go as high as USD 48. (Barron’s)

Plum Creek Timber (PCL) – Weyerhaeuser (WY) has purchased the Co. in an all-stock transaction valued at USD 8.4bln. (BBG)

Spectra Energy Partners (SEP) – Co. is to sell a total of USD 1bln of common units. (BBG)

NASDAQ 100

Activision Blizzard (ATVI) – According to Barron's, after the purchase of King Digital (KING), Co. shares could see additional gains. Additionally, Co.’s price target has been increased at Piper Jaffray from USD 32 to USD 42. (Barron’s/BBG)

Amgen (AMGN) – Co. is looking at a large amount of potential purchases in the M&A space worth an estimated USD 10bln, according to sources. Additionally, the FDA has accepted the Co.’s NDA for intravenous calcimimetic etelcalcetide. (FT/BBG)

Qualcomm (QCOM) – Co. was unable to gain some Chinese licensing deals from Xiaomi and Lenovo, according to sources. (WSJ)

Yahoo (YHOO) – Co. executives are to meet with McKinsey & Co. to discuss how to organize the Co.’s core business as they progress and whether that includes closure, a sale or expansion, according to sources. (Re/code)

OTHER NEWS

Advanced Energy Industries (AEIS) – Co. has begun an accelerated share buyback program. (BBG)

Apollo Global (APO) – Co. have reached a mutual decision with AR Capital where the Co, will no longer purchase a controlling interest in a new company, AR Global Investments. (BBG)

Canadian Natural (CNQ) – Co. has reached an agreement with PrairieSky Royalty to bring their royalty units together. (BBG)

FireEye (FEYE) – Co.’s price target has been decreased at Imperial Capital from USD 55 to USD 32. (BBG)

Harsco (HSC) – Co. are looking into strategic alternatives for the separation of their Metals & Minerals unit. (BBG)

HRG Group (HRG) – Anbang Insurance Group are to purchase the Co.’s Fidelity & Guaranty Life (FGL) unit in a deal valued at USD 1.6bln, according to sources. (BBG)

MercadoLibre (MELI) – Co.’s price target has been increased at Piper Jaffray from USD 120 to USD 150. (BBG)

MicroStrategy (MSTR) – Glenhill Advisors has stated that they own a 5.9% passive stake in the Co. (BBG)

Nu Skin (NUS) – According to Barron’s, Co.’s food aid unit could come under regulatory scrutiny for its pricing structure. (BBG)

Pacira Pharmaceuticals (PCRX) – Co. has stated that a surgical procedure that used EXPAREL illustrated positive results. (BBG)

Parsley Energy (PE) – Co. is still a top pick at Canaccord. (BBG)

Peabody Energy (BTU) – Co. has reached an agreement with the NY attorney general where they will look to provide fuller climate change disclosures. (BBG)

Teekay Tankers (TNK) – Apollo has stated that they have taken the option to liquidate their passive stake in the Co. (BBG)

Triumph Group (TGI) – Atlantic Investment has decreased their stake in the Co. to 7%. (BBG)

Weight Watchers (WTW) – Point72 has stated that they own a 6% passive stake in the Co. (BBG)

Weyerhaeuser (WY) – Co. is now looking at strategic alternatives for its Cellulose Fibers unit. (BBG)

BROKER MOVES

Upgrades

AMPLIFY SNACK BRANDS (BETR) UPGRADED TO OUTPERFORM FROM NEUTRAL AT CREDIT SUISSE

BANKRATE (RATE) UPGRADED TO BUY FROM NEUTRAL AT BOFA/MERRILL

BUFFALO WILD WINGS (BWLD) UPGRADED TO OVERWEIGHT FROM SECTOR WEIGHT AT KEYBANC

ENERPLUS (ERF) UPGRADED TO BUY FROM NEUTRAL AT UBS

PAPA JOHN'S (PZZA) UPGRADED TO OVERWEIGHT FROM SECTOR WEIGHT AT KEYBANC

RSP PERMIAN (RSPP) UPGRADED TO BUY FROM HOLD AT CANACCORD

SONIC AUTOMOTIVE (SAH) UPGRADED TO NEUTRAL FROM SELL AT GOLDMAN

WALTER INVESTMENT (WAC) UPGRADED TO MARKET PERFORM AT KEEFE BRUYETTE

Downgrades

ALCOA (AA) DOWNGRADED TO NEUTRAL FROM BUY AT NOMURA

AUTODESK (ADSK) DOWNGRADED TO NEUTRAL FROM BUY AT UBS

BANC OF CALIFORNIA (BANC) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES

BONANZA CREEK (BCEI) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES

CENTURY ALUMINUM (CENX) DOWNGRADED TO NEUTRAL FROM BUY AT NOMURA

CTI BIOPHARMA (CTIC) DOWNGRADED TO HOLD FROM BUY AT WALLACHBETH

DEL FRISCO'S (DFRG) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT PIPER JAFFRAY

EOG RESOURCES (EOG) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES

EVOLUTION PETROLEUM (EPM) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT NORTHLAND

FORESIGHT ENERGY (FELP) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN

FRESENIUS MEDICAL (FMS) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

HERITAGE OAKS (HEOP) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT RAYMOND JAMES

INPHI (IPHI) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT NORTHLAND

INSMED (INSM) DOWNGRADED TO NEUTRAL FROM BUY AT UBS

KEYCORP (KEY) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK

L BRANDS (LB) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN

MRC GLOBAL (MRC) DOWNGRADED TO SECTOR WEIGHT FROM OVERWEIGHT AT KEYBANC

NEWS CORP. (NWSA) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT WELLS FARGO

OVASCIENCE (OVAS) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT LEERINK

QUALCOMM (QCOM) DOWNGRADED TO NEUTRAL FROM BUY AT NOMURA

REGIONS FINANCIAL (RF) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK

RONA (RONAF) DOWNGRADED TO UNDERWEIGHT FROM EQUAL WEIGHT AT BARCLAYS

SANOFI (SNY) DOWNGRADED TO MARKET PERFORM FROM OUTPERFORM AT BERNSTEIN

STRATASYS (SSYS) DOWNGRADED TO HOLD FROM BUY AT DEUTSCHE BANK

TATA MOTORS (TTM) DOWNGRADED TO SELL FROM HOLD AT DEUTSCHE BANK

TERADATA (TDC) DOWNGRADED TO SELL FROM HOLD AT SUMMIT RESEARCH

U.S. STEEL (X) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY

ZS PHARMA (ZSPH) DOWNGRADED TO EQUAL WEIGHT FROM OVERWEIGHT AT MORGAN STANLEY

ZS PHARMA (ZSPH) DOWNGRADED TO NEUTRAL FROM OUTPERFORM AT CREDIT SUISSE

ZS PHARMA (ZSPH) DOWNGRADED TO NEUTRAL FROM OVERWEIGHT AT JPMORGAN

Initiations

CPI CARD GROUP (PMTS) INITIATED WITH A BUY AT GOLDMAN

FIRST DATA (FDC) INITIATED WITH A BUY AT BOFA/MERRILL

FIRST DATA (FDC) INITIATED WITH A BUY AT CITI

FIRST DATA (FDC) INITIATED WITH A BUY AT DEUTSCHE BANK

FIRST DATA (FDC) INITIATED WITH A BUY AT EVERCORE ISI

FIRST DATA (FDC) INITIATED WITH A BUY AT GOLDMAN

FIRST DATA (FDC) INITIATED WITH A BUY AT MIZUHO

FIRST DATA (FDC) INITIATED WITH A BUY AT SUNTRUST

FIRST DATA (FDC) INITIATED WITH AN OUTPERFORM AT COWEN

FIRST DATA (FDC) INITIATED WITH AN OUTPERFORM AT WELLS FARGO

FIRST DATA (FDC) INITIATED WITH AN OVERWEIGHT AT BARCLAYS

HP ENTERPRISE (HPE) INITIATED WITH A MARKET PERFORM AT BMO CAPITAL

JARDEN (JAH) REINSTATED WITH AN OVERWEIGHT AT BARCLAYS

LENDINGTREE (TREE) INITIATED WITH A BUY AT SUNTRUST

LENDINGTREE (TREE) INITIATED WITH AN OUTPERFORM AT RBC CAPITAL

PIER 1 IMPORTS (PIR) INITIATED WITH A SELL AT UBS

RESTORATION HARDWARE (RH) INITIATED WITH A BUY AT UBS

TARGET (TGT) INITIATED WITH A BUY AT CITI

VASCULAR BIOGENICS (VBLT) INITIATED WITH AN OVERWEIGHT AT PIPER JAFFRAY

Broker Moves Compiled from: BBG, RTRS, ZeroHedge and theflyonthewall

DIVIDENDS

PAYING DIVIDEND (USD): Air Products & Chemicals Inc (USD 0.81), MasterCard Inc (USD 0.16), Masco Corp (USD 0.095), Noble Corp plc (USD 0.15)

EX-DIVIDEND (USD):  CONSOL Energy Inc (USD 0.01), Delphi Automotive PLC (USD 0.25), Entergy Corp (USD 0.85), Macerich Co/The (USD 2), Starbucks Corp (USD 0.2), TJX Cos Inc/The (USD 0.21), Wynn Resorts Ltd (USD 0.5), Exxon Mobil Corp (USD 0.73)

EXPECTED DIVIDEND DECLARATION (USD): Broadcom Corp (USD 0.14), Genuine Parts Co (USD 0.615), Viacom Inc (USD 0.4), Waste Management Inc (USD 0.385)

Fair Values

SPX -5.36 NDX -6.08 DJIA -62.50

Time 1145BST

Put/Call*

SPX 1.65 OEX 2.51 Equity 0.66

Closing Prices

SPX 2099.2 NDX 4707.231 DJIA 17910.33 VIX 14.33

09 Nov 2015 - 12:50- EquitiesResearch Sheet- Source: RANsquawk