Precidian ETFs Trust Toyota Motor Corporation ADRhedged (ARCA: TMH)

最新ニュース Precidian ETFs Trust Toyota Motor Corporation ADRhedged (ARCA:TMH)

Consumer Cyclical

The Series, under normal circumstances, invests at least 95% of its net assets in American Depositary Receipts (ADRs) of the Toyota Motor Corporation (the Company).

Toyota Motor Corporation

Toyota Motor Corporation ADRhedged

Team Health Holdings

Team Health Holdings, Inc.

Precidian ETFs Trust Toyota Motor Corporation ADRhedged

Taylor Morrison Home Corporation Common Stock

Taylor Morrison Home Corp

TSIM SHA PPTYS UNSP/ADR by Tsim Sha Properties Ltd.

Tsim Sha Tsui Properties Ltd

Toyota Motor Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TM#NYSE">TM</a>) Toyota Fudosan Co., Ltd. on Tuesday announced plans to initiate a <a href="https://www.benzinga.com/topic/mobility">tender offer</a> for shares of Toyota Industries Corporation.
The company plans to take Toyota Industries private, with Toyota Fudosan investing around 180 billion Japanese yen ($1.26 billion).
The company said <a href="https://global.toyota/en/newsroom/corporate/42882940.html">this</a> move is part of a broader effort to accelerate the group&#8217;s transformation into a comprehensive &#8220;mobility company.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/25/05/45664131/general-motors-ceo-backs-trumps-auto-tariffs-as-a-tool-to-level-the-playing-fieldtheyve-taken-the-time-to-understand-our-industry" rel="noreferrer noopener">General Motors CEO Backs Trump&#8217;s Auto Tariffs As A Tool To &#8216;Level The Playing Field&#8217;—&#8217;They&#8217;ve Taken The Time To Understand Our Industry&#8217;</a>
Also, Akio Toyoda, chairman of Toyota Motor Corporation, intends to contribute 1 billion yen (around $7.0 million), and Toyota Motor plans to invest approximately 700 billion yen ($4.9 billion) in non-voting preferred shares.
These investments are intended to be funded by reinvesting a portion of the proceeds from the sale of Toyota Industries shares, which were held by Toyota Fudosan, Akio Toyoda, and Toyota Motor since Toyota Industries&#8217; initial listing.
The streamlining of the ownership structure, particularly around Toyota Industries, will allow the company to operate more agilely and focus on innovation in logistics and goods movement.
Toyota Industries is focusing on the development of autonomous technologies for logistics equipment such as forklifts, logistics management software, and environmentally friendly powertrains, and it will work on utilization of data related to the movement of goods, the company said.
The streamlining will be achieved by taking Toyota Industries private through a new holding company structure, funded by key Toyota entities and leadership, while also unwinding most of the existing cross-shareholdings involving Toyota Industries. Toyota Motor will retain a significant, but non-voting, stake.
As part of this strategic restructuring, Toyota Motor Corporation, AISIN Corporation, DENSO CORPORATION, and Toyota Tsusho Corporation will sell their existing shares in Toyota Industries.
Concurrently, these four companies will repurchase their own shares that are currently held by Toyota Industries; this will be accomplished through tender offers for their respective treasury shares.
This series of transactions is designed to dissolve the complex cross-shareholding relationships that exist between Toyota Industries and these four entities.
However, an exception will be made for Toyota Motor Corporation, which will retain an investment in Toyota Industries by holding non-voting preferred shares in the newly established holding company.
This move is part of an ongoing review of capital relationships within Toyota Group (since FY2023) to ensure continued growth and competitiveness. The aim is to find the optimum formation for Toyota Group as a mobility company.
Investors can gain exposure to the stock via&nbsp;Precidian ETFs Trust Toyota Motor Corporation ADRhedged (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMH#NYSE">TMH</a>) and Avantis International Large Cap Value ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVIV#NYSE">AVIV</a>).
Price Action: TM shares are trading higher by 0.06% to $189.25&nbsp;premarket at last check Tuesday.
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Photo by ChameleonsEye via Shutterstock

Asia

News

AVIV

Toyota Restructures Complex Shareholding Pattern In Mobility Push

Legal

Dept. Of Justice Says TeamHealth To Pay $60M To settle Medicare, Medicaid False Claims Act Allegations; Enters Into 5 Year Corp. Integrity Agreement Covering Company's Hospital Medicine Division

TeamHealth Stockholders Approve Acquisition By Blackstone Affiliated Funds; Stockholders Will Receive $43.50/Share Cash

Jefferies downgrades Team Health Holdings (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) from Buy to Hold and lowers the price target from $47.00 to $43.50.

Downgrades

Analyst Ratings

Jefferies Downgrades Team Health Holdings to Hold, Lowers Target to $43.50

Analyst Color

Team Health Holdings Rebounding Off LOD, Down ~1.3%, Baird Analyst Clarifying That CID Issues Relating To Certain Professional Services In CO And TX Does Not Create Any Meaningful Risk To The Deal

It&rsquo;s critical to know whether a stock you plan on buying has an ex-dividend status, because in case it does, the dividend would be paid out to the seller. The person who owns the stock on the ex-dividend date will be awarded the payment, which means that you&rsquo;ll have to wait for the next dividend cycle to receive your first dividend payout from the company.

	On the other hand, share prices typically decline just after the ex-dividend date is declared, and usually by an amount equal to the expected dividend. So, this may give you the opportunity to identify a good entry point. If you&rsquo;re planning on selling shares on or after the ex-dividend date, you&#39;ll receive the dividend payout from the company.

	Here is the list of stocks going ex-dividend on Thursday.
<ul>
<li>
		Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) - $0.4100 dividend, 6.4720 percent yield. On Monday, TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) agreed be purchased by Blackstone at $43.50 per share in cash.</li>
<li>
		Waste Connections Inc (USA) (NYSE: <a class="ticker" href="/stock/wcn#NYSE">WCN</a>) - $0.1800 dividend, 0.9562 percent yield. On Tuesday, Goldman Sachs initiated coverage on Waste Connections with a Buy rating and a $90.00 price target.</li>
<li>
		Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) - $0.1700 dividend, 1.2418 percent yield. General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) confirmed on Monday that it has entered into an agreement in which its oil and gas business will combine with Baker Hughes to create a world-leading oilfield technology provider.</li>
<li>
		Papa John&#39;s Int&#39;l, Inc. (NASDAQ: <a class="ticker" href="/stock/pzza#NASDAQ">PZZA</a>) - $0.2000 dividend, 1.0647 percent yield. Papa John&#39;s posted strong Q3 results on Tuesday.</li>
<li>
		Texas Instruments Incorporated (NASDAQ: <a class="ticker" href="/stock/txn#NASDAQ">TXN</a>) - $0.5000 dividend, 2.7890 percent yield. Texas Instruments shares have surged 21.85 percent over the past 52 weeks, while the S&amp;P 500 index has gained 0.36 percent in the same period.</li>
<li>
		Metlife Inc (NYSE: <a class="ticker" href="/stock/met#NYSE">MET</a>) - $0.4000 dividend, 3.4565 percent yield. Metlife is expected to release quarterly earnings after the closing bell.</li>
<li>
		Eaton Corporation, PLC (NYSE: <a class="ticker" href="/stock/etn#NYSE">ETN</a>) - $0.5700 dividend, 3.5979 percent yield. On Tuesday, Eaton posted Q3 earnings of $1.15 per share on revenue of $5.0 billion.</li>
<li>
		California Water Service Group (NYSE: <a class="ticker" href="/stock/cwt#NYSE">CWT</a>) - $0.1725 dividend, 2.1277 percent yield. California Water shares have climbed 21.85 percent over the past 52 weeks, while the S&amp;P 500 index has gained 0.36 percent in the same period.</li>
<li>
		Apple Inc. (NASDAQ: <a class="ticker" href="/stock/aapl#NASDAQ">AAPL</a>) - $0.5700 dividend, 1.9281 percent yield. Goldman Sachs maintained a Buy rating on Apple with a price target of $124.</li>
<li>
		NutriSystem Inc. (NASDAQ: <a class="ticker" href="/stock/ntri#NASDAQ">NTRI</a>) - $0.1750 dividend, 2.2047 percent yield. NutriSystem shares have jumped 28.08 percent over the past 52 weeks, while the S&amp;P 500 index has gained 0.36 percent in the same period.</li>
</ul>

Dividends

Markets

Trading Ideas

AAPL

NTRI

PZZA

10 Notable Stocks Trading Ex-Dividend Thursday, November 3

&nbsp;
<ul>
<li>
		Analysts at Barclays downgraded SVB Financial Group (NASDAQ: <a class="ticker" href="/stock/sivb#NASDAQ">SIVB</a>) from Overweight to Equal-Weight. SVB Financial shares fell 0.33 percent to close at $122.27 on Monday.</li>
<li>
		BTIG Research downgraded Level 3 Communications, Inc. (NYSE: <a class="ticker" href="/stock/lvlt#NYSE">LVLT</a>) from Buy to Neutral. Level 3 Communications shares rose 3.89 percent to close at $56.15 on Monday.</li>
<li>
		Wells Fargo downgraded TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) from Outperform to Market Perform. Team Health shares fell 0.23 percent to $42.70 in pre-market trading.</li>
<li>
		Wedbush downgraded Sangamo Biosciences, Inc. (NASDAQ: <a class="ticker" href="/stock/sgmo#NASDAQ">SGMO</a>) from Outperform to Neutral. Sangamo BioSciences shares fell 2.82 percent to $3.45 in pre-market trading.</li>
<li>
		Guggenheim downgraded Mastercard Inc (NYSE: <a class="ticker" href="/stock/ma#NYSE">MA</a>) from Buy to Neutral. Mastercard shares fell 0.67 percent to $106.30 in pre-market trading.</li>
<li>
		Analysts at Raymond James downgraded Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) from Strong Buy to Outperform. Baker Hughes shares fell 0.22 percent to $55.28 in pre-market trading.</li>
<li>
		Morgan Stanley downgraded Juniper Networks, Inc. (NYSE: <a class="ticker" href="/stock/jnpr#NYSE">JNPR</a>) from Equal-Weight to Underweight. Juniper shares fell 2.89 percent to $25.58 in pre-market trading.</li>
<li>
		Pacific Crest downgraded NXP Semiconductors NV (NASDAQ: <a class="ticker" href="/stock/nxpi#NASDAQ">NXPI</a>) from Overweight to Sector Weight. NXP Semiconductors shares gained 0.22 percent to close at $100.00 on Monday.</li>
<li>
		Analysts at William Blair downgraded Vertex Pharmaceuticals Incorporated (NASDAQ: <a class="ticker" href="/stock/vrtx#NASDAQ">VRTX</a>) from Outperform to Market Perform. Vertex Pharmaceuticals shares fell 0.21 percent to $75.70 in pre-market trading.</li>
<li>
		Analysts at Monness Crespi Hardt downgraded Godaddy Inc (NYSE: <a class="ticker" href="/stock/gddy#NYSE">GDDY</a>) from Buy to Neutral. GoDaddy shares fell 1.49 percent to close at $35.79 on Monday.</li>
</ul>

GDDY

JNPR

LVLT

NXPI

SGMO

SIVB

VRTX

Benzinga's Top Downgrades

Wells Fargo downgrades Team Health Holdings, Inc. Team Health Holdings, Inc. (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) from Outperform to Market Perform.

Wells Fargo Downgrades Team Health Holdings, Inc. Team Health Holdings, Inc. to Market Perform

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Monday October 31, 2016:

	GE to Acquire Baker Hughes 

	The Deal:

	GE (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) and Baker Hughes (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) announced Monday, that the companies have entered into an agreement to combine GE&#39;s oil and gas business with Baker Hughes to create a company with $32 billion of combined revenue and operations. Under the terms of the agreement, Baker Hughes shareholders will receive a special one-time cash dividend of $17.50 per share and 37.5% of the new company, while GE will own 62.5% of the company.

	The transaction is expected to close in mid 2017.

	Baker Hughes closed at $55.40 on Monday, down 6.29%.

	&nbsp;

	Century Link to Acquire Level 3 Communications for $66.50/Share in Cash, Stock

	The Deal: 
	CenturyLink (NYSE: <a class="ticker" href="/stock/ctl#NYSE">CTL</a>) and Level 3 Communications, Inc. (NYSE: <a class="ticker" href="/stock/lvlt#NYSE">LVLT</a>) announced Monday, that their Boards of Directors have unanimously approved a definitive merger agreement under which CenturyLink will acquire Level 3 for $26.50 per share in cash and 1.4286 shares of CenturyLink stock for each Level 3 share they own, or $66.50 per Level 3 share in cash and stock.

	The transaction is expected to close by the end of Q3 2017.

	Level 3 Communications closed at $56.15 on Monday, up 3.89%.

	&nbsp;

	SunCoke Energy to Acquire SunCoke Energy Partners for 1.65 SunCoke Share, Implied Val-ue $17.80

	The Deal: 
	SunCoke Energy, Inc. (NYSE: <a class="ticker" href="/stock/sxc#NYSE">SXC</a>) announced Monday, that it has submitted a proposal to the Board of Directors of the general partner of SunCoke Energy Partners, L.P. (NYSE: <a class="ticker" href="/stock/sxcp#NYSE">SXCP</a>) to acquire all of SXCP&#39;s common units not already owned by SXC, in exchange for approximately 1.65 new shares of SXC common stock for each SXCP common unit.

	The proposal has been made to the Board of Directors of SXCP&#39;s general partner, which is an indirect wholly-owned subsidiary of SXC. SXC expects that the Board of Directors of SXCP&#39;s general partner will delegate the authority to review and evaluate the proposal to its Conflicts Committee.

	SunCoke Energy Partners closed Monday at $17.30, up 2.06%.

	&nbsp;

	TeamHealth to be Acquire by Blackstone for $43.50/Share in Cash

	The Deal: 
	TeamHealth Holdings, Inc. (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) announced Monday, that it has entered into a definitive agreement to be acquired by funds affiliated with Blackstone (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) for $43.50 per share in cash. The merger agreement includes a &quot;go-shop&quot; period and is expected to close in Q1 of 2017.

	TeamHealth closed Monday at $42.85, up 16.44%.

	&nbsp;

	Cipher Pharmaceuticals Said to Consider Sale

	The Rumor: 
	Cipher Pharmaceuticals Inc (NASDAQ: <a class="ticker" href="/stock/cphr#NASDAQ">CPHR</a>) is said to have hired an investment bank to explore strategic alternatives, according to sources as reported by Reuters on Monday. The sources said a potential sale of the Canada-based company is being considered.

	Cipher declined comment on the report.

	Cipher Pharmaceuticals closed Monday at $3.70, up 6.04%.

Rumors

Movers

CPHR

SXCP

Benzinga's M&A Chatter for Monday October 31, 2016

Merger mania is at its feverish pitch. Not a single day passes without news on either some announced deal or whispers of a potential combination. Twitter Inc (NYSE: <a class="ticker" href="/stock/twtr#NYSE">TWTR</a>) has now become the butt of M&amp;A jokes, as it is perennially in the news concerning one or another company purportedly being interested in it. Given the abounding M&amp;A news, it becomes pertinent to look back at October to see how the month has progressed.
<h3>Deal Value At Record</h3>
Estimates released by <a href="http://www.dealogic.com/">Dealogic </a>show a record $251 billion worth of deals announced in October, up from the previous record of $240 billion in July 2015, according to a <a href="http://www.usnews.com/news/business/articles/2016-10-28/companies-set-monthly-record-for-mergers-acquisitions">US News article</a> referencing the Associated Press.
<h3>Some M&amp;A Deals Announced In October</h3>
<ul>
<li>AT&amp;T Inc. (NYSE: <a class="ticker" href="/stock/t#NYSE">T</a>) announces an agreement to buy media giant Time Warner Inc (NYSE: <a class="ticker" href="/stock/twx#NYSE">TWX</a>) in a $85 billion deal.</li>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/16/10/8617052/qualcomm-nxp-deal-proving-that-the-internet-of-things-ha"> QUALCOMM, Inc. (NASDAQ: <a class="ticker" href="/stock/qcom#NASDAQ">QCOM</a>) is set to buy NXP Semiconductors NV (NASDAQ: <a class="ticker" href="/stock/nxpi#NASDAQ">NXPI</a>)</a> for $38.50 billion.</li>
<li>General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) said it would combine its oil and gas business with Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) and spin it off as a separate public company, owned 62 percent by GE and 37.5 percent by Baker Hughes shareholders.</li>
<li>TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) announced a deal to be bought by funds affiliated with Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) for $6.1 billion in cash.</li>
<li>British American Tobacco PLC (ADR) (NYSE: <a class="ticker" href="/stock/bti#NYSE">BTI</a>) has offered to buy the remaining stake it already does not hold in Reynolds American, Inc. (NYSE: <a class="ticker" href="/stock/rai#NYSE">RAI</a>) for $47 billion.</li>
</ul>
<h3>Global Tech M&amp;A On A Roll </h3>
Dealogic noted that global technology M&amp;A volume at $530.5 billion in the year-to-date period is the second highest annual total, trailing only the 2015 volume of $692.4 billion. Global semiconductors-targeted M&amp;A volume hit an annual high of $127.1 billion in 2016, up 13 percent from the previous record of $112.2 billion set in 2015, Dealogic said.
<h3>Some Ditched Deals</h3>

Pfizer Inc. (NYSE: <a class="ticker" href="/stock/pfe#NYSE">PFE</a>) called off its deal with Allergan plc Ordinary Shares (NYSE: <a class="ticker" href="/stock/agn#NYSE">AGN</a>) in April this year, citing the new rules of the Treasury called inversions, which took a shot at companies seeking to cut taxes through M&amp;A route. This scuttled a $160 billion-deal in the making.
In May this year, Halliburton Company (NYSE: <a class="ticker" href="/stock/hal#NYSE">HAL</a>) had to abandon its offer for Baker Hughes, as it was not able to scale regulatory hurdles in several continents due to <a href="http://www.investopedia.com/terms/a/antitrust.asp">anti-trust </a>concerns involved. The deal was valued at $35 billion.
<h3>What Influences The M&amp;A Wave?</h3>
Companies usually look at M&amp;A as a means of expanding market share or entering into new markets and verticals without having to make substantial investments. Usually, this happens when companies see their sales and profits sagging for want of new investment opportunity.
The low interest rate environment that prevails currently in the wake of expansionary policies pursued by the global central banks also provides an avenue for cheap financing, giving them the leeway to chase deals.
That said, anti-trust concerns is a major deterrent, as governments try to protect sovereignty, citizens, shareholders and consumers from a monopolizing environment.
Thus, companies make hay when the sun shines, creating ripples on the M&amp;A front. With two more months to go, the year 2016 might take honor of being the sweet spot in deal activity.

Education

Media

General

QCOM

TWTR

October 2016 Sets Record For M&A At $251 Billion

The healthcare facility space lost one of its 10 largest players on Monday when Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) announced a <a href="http://www.wsj.com/articles/blackstone-to-acquire-team-health-for-about-3-2-billion-1477916987">$3.2 billion buyout</a> of TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>). News of the deal sent TeamHealth shares climbing 16.3 percent in early Monday trading.
Benzinga Pro first reported that Blackstone was the leading candidate to buy TeamHealth back on <a href="http://www.benzinga.com/news/16/10/8574634/hearing-blackstone-is-the-lead-to-buy-team-health">October 18</a>.
The TeamHealth takeover now leaves the following 10 stocks as the largest companies in the space by market cap:
<ul>
<li>HCA Holdings Inc (NYSE: <a class="ticker" href="/stock/hca#NYSE">HCA</a>): $28.2 billion.</li>
<li>Fresenius Medical Care AG &amp; Co. (ADR) (NYSE: <a class="ticker" href="/stock/fms#NYSE">FMS</a>): $25.1 billion.</li>
<li>Laboratory Corp. of America Holdings (NYSE: <a class="ticker" href="/stock/lh#NYSE">LH</a>): $12.8 billion.</li>
<li>Davita Inc (NYSE: <a class="ticker" href="/stock/dva#NYSE">DVA</a>): $11.8 billion.</li>
<li>Universal Health Services, Inc. (NYSE: <a class="ticker" href="/stock/uhs#NYSE">UHS</a>): $11.5 billion.</li>
<li>Quest Diagnostics Inc (NYSE: <a class="ticker" href="/stock/dgx#NYSE">DGX</a>): $11.3 billion.</li>
<li>MEDNAX Inc (NYSE: <a class="ticker" href="/stock/md#NYSE">MD</a>): $5.7 billion.</li>
<li>HealthSouth Corp (NYSE: <a class="ticker" href="/stock/hls#NYSE">HLS</a>): $3.7 billion.</li>
<li>Acadia Healthcare Company Inc (NASDAQ: <a class="ticker" href="/stock/achc#NASDAQ">ACHC</a>): $3.1 billion.</li>
<li>Molina Healthcare, Inc. (NYSE: <a class="ticker" href="/stock/moh#NYSE">MOH</a>): $2.9 billion.</li>
</ul>
With the healthcare facilities M&amp;A frenzy showing no signs of ending anytime soon, traders continue <a href="http://seekingalpha.com/article/3802446-healthcare-intelligence-molinas-turn-spotlight">to speculate</a> on the next possible target. The smaller names within the top 10 make for the easiest potential acquisitions.
According to <a href="https://www.factset.com/websitefiles/PDFs/flashwire/flashwire_10.16">Factset</a>, there were 158 M&amp;A deals in the health services sector in the first three quarters of 2016, down from 225 deals in the first three quarters of 2015.

Health Care

Real Estate

ACHC

Laboratory Corporation Of America Holdings

The Healthcare Facility Space Just Got A Little Smaller

&nbsp;

	Toward the end of trading Monday, the Dow traded down 0.10 percent to 18,142.94 while the NASDAQ gained 0.03 percent to 5,191.66. The S&amp;P also rose, gaining 0.03 percent to 2,126.79.

	Leading and Lagging Sectors
	Monday afternoon, utilities shares gained by 1.72 percent. Meanwhile, top gainers in the sector included NRG Energy Inc (NYSE: <a class="ticker" href="/stock/nrg#NYSE">NRG</a>), and Atmos Energy Corporation (NYSE: <a class="ticker" href="/stock/ato#NYSE">ATO</a>).
	In trading on Monday, energy shares fell by 0.97 percent. Meanwhile, top losers in the sector included Contango Oil &amp; Gas Company (NYSE: <a class="ticker" href="/stock/mcf#NYSE">MCF</a>), down 12 percent, and Seacor Holdings, Inc. (NYSE: <a class="ticker" href="/stock/ckh#NYSE">CKH</a>), down 9 percent.

	Top Headline

	General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) confirmed on Monday that it has entered into an agreement in which its oil and gas business will combine with Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) to create a world-leading oilfield technology provider.

	As part of the agreement, Baker Hughes shareholders will receive a one-time cash dividend of $17.50 per share and will also own 37.5 percent of the new entity.

	The combined company will boast operations in more than 120 countries and become a leading equipment, technology and services provider in the oil and gas industry with a combined revenue base of $32 billion. Moreover, the combined entity would be better positioned for growth when the oil and gas industry rebounds.

	Equities Trading UP
	 Intersections Inc. (NASDAQ: <a class="ticker" href="/stock/intx#NASDAQ">INTX</a>) shares shot up 23 percent to $2.16 after the company disclosed that its board has received a proposal from Loeb Holding to acquire the company&#39;s Pet Health Monitoring Segment.

	Shares of TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) got a boost, shooting up 16 percent to $42.80 after the company agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.

	INC Research Holdings Inc (NASDAQ: <a class="ticker" href="/stock/incr#NASDAQ">INCR</a>) shares were also up, gaining 11 percent to $46.05 after the company reported better-than-expected quarterly earnings.

	 
	Equities Trading DOWN
	 Memorial Production Partners LP (NASDAQ: <a class="ticker" href="/stock/memp#NASDAQ">MEMP</a>) shares dropped 49 percent to $0.554 as the company announced Friday that it will suspend quarterly cash distribution. Stifel Nicolaus downgraded Memorial Production Partners from Hold to Sell.

	Shares of Zimmer Biomet Holdings Inc (NYSE: <a class="ticker" href="/stock/zbh#NYSE">ZBH</a>) were down 13 percent to $106.06. Zimmer Biomet reported Q3 adjusted earnings of $1.79 per share on sales of $1.83 billion. The company also lowered the high end of previously issued FY16 earnings outlook.

	Lumber Liquidators Holdings Inc (NYSE: <a class="ticker" href="/stock/ll#NYSE">LL</a>) was down, falling around 17 percent to $15.43 after the company posted a wider-than-expected quarterly loss.

	 
	Commodities

	 
	In commodity news, oil traded down 3.31 percent to $47.09 while gold traded down 0.23 percent to $1,273.90.
	Silver traded up 0.11 percent Monday to $17.82, while copper rose 0.52 percent to $2.21.

	Eurozone
	European shares closed lower today. The eurozone&rsquo;s STOXX 600 slipped 0.54 percent, the Spanish Ibex Index fell 0.63 percent, while Italy&rsquo;s FTSE MIB Index dropped 1.15 percent. Meanwhile the German DAX slipped 0.29 percent, and the French CAC 40 dropped 0.86 percent while U.K. shares fell 0.60 percent.

	Economics

	U.S. consumer spending rose 0.50 percent for September, versus economists&rsquo; expectations for a 0.50 percent growth. Personal income increased 0.30 percent, versus estimates of a 0.40 percent gain.

	The Chicago PMI dropped to 50.60 in October, versus a prior reading of 54.20. Economists were expecting a reading of 54.00.

	The Dallas Fed manufacturing business index rose to -1.50 in October, versus a prior reading of -3.70. Economists expected a reading of 2.00.

	Data on farm prices for October will be released at 3:00 p.m. ET.

Earnings

Eurozone

Commodities

Global

Intraday Update

INCR

INTX

MEMP

Mid-Afternoon Market Update: Lumber Liquidators Drops After Wider Loss; INC Research Shares Spike Higher

&nbsp;
<ul>
<li>
		Intersections Inc. (NASDAQ: <a class="ticker" href="/stock/intx#NASDAQ">INTX</a>) shares surged 27.6 percent to $2.25 after the company disclosed that its board has received a proposal from Loeb Holding to acquire the company&#39;s Pet Health Monitoring Segment.</li>
<li>
		TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) climbed 16.2 percent to $42.78 after the company agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.</li>
<li>
		Gaia Inc (NASDAQ: <a class="ticker" href="/stock/gaia#NASDAQ">GAIA</a>) shares surged 15.2 percent to $7.20. Gaia is expected to report Q3 results on November 3, 2016.</li>
<li>
		INC Research Holdings Inc (NASDAQ: <a class="ticker" href="/stock/incr#NASDAQ">INCR</a>) shares climbed 12 percent to $46.40 after the company reported better-than-expected quarterly earnings.</li>
<li>
		Nam Tai Property Inc (NYSE: <a class="ticker" href="/stock/ntp#NYSE">NTP</a>) shares jumped 9.9 percent to $8.25. GeoInvesting is prepping a special report which values the company at up to $25 per share over the longer-term. Nam Tai Property posted a Q3 loss of $0.04 per share.</li>
<li>
		Mercury General Corporation (NYSE: <a class="ticker" href="/stock/mcy#NYSE">MCY</a>) gained 9 percent to $54.99. Mercury General reported Q3 operating earnings of $0.67 per share and raised its quarterly dividend to $0.6225 per share.</li>
<li>
		Cna Financial Corp (NYSE: <a class="ticker" href="/stock/cna#NYSE">CNA</a>) shares surged 6.2 percent to $37.00. Cna Financial posted better-than-expected quarterly earnings.</li>
<li>
		Loews Corporation (NYSE: <a class="ticker" href="/stock/l#NYSE">L</a>) shares gained 5.9 percent to $43.42 after the company posted better-than-expected Q1 earnings.</li>
<li>
		Level 3 Communications, Inc. (NYSE: <a class="ticker" href="/stock/lvlt#NYSE">LVLT</a>) gained 4.6 percent to $56.50 after Centurylink Inc (NYSE: <a class="ticker" href="/stock/ctl#NYSE">CTL</a>) confirmed Monday it has reached an agreement in which it will acquire Level 3 Communications in a cash and stock transaction that values the company at $34 billion or $66.50 per share.</li>
<li>
		Cardinal Health Inc (NYSE: <a class="ticker" href="/stock/cah#NYSE">CAH</a>), shares gained 4.2 percent to $70.32. Cardinal Health posted upbeat quarterly results.</li>
<li>
		Fossil Group Inc (NASDAQ: <a class="ticker" href="/stock/fosl#NASDAQ">FOSL</a>) gained 3.7 percent to $27.47. Fossil Group is expected to release Q3 results on November 3, 2016.</li>
<li>
		Noodles &amp; Co (NASDAQ: <a class="ticker" href="/stock/ndls#NASDAQ">NDLS</a>) shares rose 3.3 percent to $4.70. Noodles &amp; Company is expected to announce Q3 results on November 3, 2016.</li>
<li>
		Omeros Corporation (NASDAQ: <a class="ticker" href="/stock/omer#NASDAQ">OMER</a>) shares rose 3.3 percent to $8.11 after the company disclosed that it has requested the fast track designation for OMS721 for the treatment of IgA nephropathy.</li>
<li>
		Louisiana-Pacific Corporation (NYSE: <a class="ticker" href="/stock/lpx#NYSE">LPX</a>) shares gained 3.2 percent to $18.16. Louisiana Pacific posted Q3 earnings of $0.32 per share on revenue of $596 million. The company named Brad Southern as COO.</li>
<li>
		Check Point Software Technologies Ltd. (NASDAQ: <a class="ticker" href="/stock/chkp#NASDAQ">CHKP</a>) rose 3.2 percent to $83.54 after the company reported better than expected results for the third quarter.</li>
</ul>

Short Sellers

CHKP

FOSL

GAIA

NDLS

OMER

15 Biggest Mid-Day Gainers For Monday

&nbsp;

	Midway through trading Monday, the Dow traded up 0.10 percent to 18,180.19 while the NASDAQ gained 0.23 percent to 5,202.26. The S&amp;P also rose, gaining 0.29 percent to 2,132.52.

	Leading and Lagging Sectors
	On Monday, utilities shares gained by 1.67 percent. Meanwhile, top gainers in the sector included NRG Energy Inc (NYSE: <a class="ticker" href="/stock/nrg#NYSE">NRG</a>), and Atmos Energy Corporation (NYSE: <a class="ticker" href="/stock/ato#NYSE">ATO</a>).
	In trading on Monday, energy shares fell by 0.71 percent. Meanwhile, top losers in the sector included Contango Oil &amp; Gas Company (NYSE: <a class="ticker" href="/stock/mcf#NYSE">MCF</a>), down 11 percent, and Ferrellgas Partners, L.P. (NYSE: <a class="ticker" href="/stock/fgp#NYSE">FGP</a>), down 10 percent.

	Top Headline

	General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) confirmed on Monday that it has entered into an agreement in which its oil and gas business will combine with Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) to create a world-leading oilfield technology provider.

	As part of the agreement, Baker Hughes shareholders will receive a one-time cash dividend of $17.50 per share and will also own 37.5 percent of the new entity.

	The combined company will boast operations in more than 120 countries and become a leading equipment, technology and services provider in the oil and gas industry with a combined revenue base of $32 billion. Moreover, the combined entity would be better positioned for growth when the oil and gas industry rebounds.

	Equities Trading UP
	 Intersections Inc. (NASDAQ: <a class="ticker" href="/stock/intx#NASDAQ">INTX</a>) shares shot up 26 percent to $2.21 after the company disclosed that its board has received a proposal from Loeb Holding to acquire the company&#39;s Pet Health Monitoring Segment.

	Shares of TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) got a boost, shooting up 16 percent to $42.75 after the company agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.

	INC Research Holdings Inc (NASDAQ: <a class="ticker" href="/stock/incr#NASDAQ">INCR</a>) shares were also up, gaining 12 percent to $46.30 after the company reported better-than-expected quarterly earnings.

	 
	Equities Trading DOWN
	 Memorial Production Partners LP (NASDAQ: <a class="ticker" href="/stock/memp#NASDAQ">MEMP</a>) shares dropped 50 percent to $0.546 as the company announced Friday that it will suspend quarterly cash distribution. Stifel Nicolaus downgraded Memorial Production Partners from Hold to Sell.

	Shares of Zimmer Biomet Holdings Inc (NYSE: <a class="ticker" href="/stock/zbh#NYSE">ZBH</a>) were down 13 percent to $106.49. Zimmer Biomet reported Q3 adjusted earnings of $1.79 per share on sales of $1.83 billion. The company also lowered the high end of previously issued FY16 earnings outlook.

	Invacare Corporation (NYSE: <a class="ticker" href="/stock/ivc#NYSE">IVC</a>) was down, falling around 7 percent to $9.15 after the company reported a wider-than-expected quarterly loss.

	 
	Commodities

	 
	In commodity news, oil traded down 2.57 percent to $47.45 while gold traded down 0.22 percent to $1,274.00.
	Silver traded up 0.02 percent Monday to $17.80, while copper rose 0.64 percent to $2.21.

	Eurozone
	European shares were lower today. The eurozone&rsquo;s STOXX 600 slipped 0.42 percent, the Spanish Ibex Index fell 0.47 percent, while Italy&rsquo;s FTSE MIB Index dropped 1.02 percent. Meanwhile the German DAX slipped 0.18 percent, and the French CAC 40 dropped 0.66 percent while U.K. shares fell 0.37 percent.

	Economics

	U.S. consumer spending rose 0.50 percent for September, versus economists&rsquo; expectations for a 0.50 percent growth. Personal income increased 0.30 percent, versus estimates of a 0.40 percent gain.

	The Chicago PMI dropped to 50.60 in October, versus a prior reading of 54.20. Economists were expecting a reading of 54.00.

	The Dallas Fed manufacturing business index rose to -1.50 in October, versus a prior reading of -3.70. Economists expected a reading of 2.00.

	Data on farm prices for October will be released at 3:00 p.m. ET.

Mid-Day Market Update: Crude Oil Down 2.5%; TeamHealth Shares Surge On Acquisition News

&nbsp;
<ul>
<li>
		TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) surged 16 percent to $42.67. The volume of TeamHealth shares traded was 5359 percent higher than normal. TeamHealth agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.</li>
<li>
		Level 3 Communications, Inc. (NYSE: <a class="ticker" href="/stock/lvlt#NYSE">LVLT</a>) shares moved up 4.5 percent to $56.47. The volume of Level 3 Communications traded was 1944 percent higher than normal. Centurylink Inc (NYSE: <a class="ticker" href="/stock/ctl#NYSE">CTL</a>) confirmed Monday it has reached an agreement in which it will acquire Level 3 Communications in a cash and stock transaction that values the company at $34 billion or $66.50 per share.</li>
<li>
		Davita Inc (NYSE: <a class="ticker" href="/stock/dva#NYSE">DVA</a>) shares gained 5.9 percent to $58.42. The volume of Davita shares traded was 313 percent higher than normal. Davita shares have dropped 29.43 percent over the past 52 weeks, while the S&amp;P 500 index has gained 1.06 percent in the same period.</li>
<li>
		Cna Financial Corp (NYSE: <a class="ticker" href="/stock/cna#NYSE">CNA</a>) shares rose 6.2 percent to $36.98. The volume of Cna Financial shares traded was 240 percent higher than normal. Cna Financial posted better-than-expected quarterly earnings.</li>
</ul>

Benzinga's Volume Movers

&nbsp;

	Following the market opening Monday, the Dow traded down 0.02 percent to 18,156.98 while the NASDAQ gained 0.09 percent to 5,194.67. The S&amp;P also rose, gaining 0.10 percent to 2,128.44.

	Leading and Lagging Sectors
	Monday morning, utilities shares gained by 0.96 percent. Meanwhile, top gainers in the sector included NRG Energy Inc (NYSE: <a class="ticker" href="/stock/nrg#NYSE">NRG</a>), and Dominion Resources, Inc. (NYSE: <a class="ticker" href="/stock/d#NYSE">D</a>).
	In trading on Monday, energy shares fell by 0.49 percent. Meanwhile, top losers in the sector included Seacor Holdings, Inc. (NYSE: <a class="ticker" href="/stock/ckh#NYSE">CKH</a>), down 9 percent, and CARBO Ceramics Inc. (NYSE: <a class="ticker" href="/stock/crr#NYSE">CRR</a>), down 7 percent.

	Top Headline

	General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) confirmed on Monday that it has entered into an agreement in which its oil and gas business will combine with Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) to create a world-leading oilfield technology provider.

	As part of the agreement, Baker Hughes shareholders will receive a one-time cash dividend of $17.50 per share and will also own 37.5 percent of the new entity.

	The combined company will boast operations in more than 120 countries and become a leading equipment, technology and services provider in the oil and gas industry with a combined revenue base of $32 billion. Moreover, the combined entity would be better positioned for growth when the oil and gas industry rebounds.

	Equities Trading UP
	 Intersections Inc. (NASDAQ: <a class="ticker" href="/stock/intx#NASDAQ">INTX</a>) shares shot up 34 percent to $2.36 after the company disclosed that its board has received a proposal from Loeb Holding to acquire the company&#39;s Pet Health Monitoring Segment.

	Shares of TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) got a boost, shooting up 16 percent to $42.62 after the company agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.

	INC Research Holdings Inc (NASDAQ: <a class="ticker" href="/stock/incr#NASDAQ">INCR</a>) shares were also up, gaining 10 percent to $45.65 after the company reported better-than-expected quarterly earnings.

	 
	Equities Trading DOWN
	 Memorial Production Partners LP (NASDAQ: <a class="ticker" href="/stock/memp#NASDAQ">MEMP</a>) shares dropped 55 percent to $0.490 as the company announced Friday that it will suspend quarterly cash distribution. Stifel Nicolaus downgraded Memorial Production Partners from Hold to Sell.

	Shares of Zimmer Biomet Holdings Inc (NYSE: <a class="ticker" href="/stock/zbh#NYSE">ZBH</a>) were down 15 percent to $104.56. Zimmer Biomet reported Q3 adjusted earnings of $1.79 per share on sales of $1.83 billion. The company also lowered the high end of previously issued FY16 earnings outlook.

	Invacare Corporation (NYSE: <a class="ticker" href="/stock/ivc#NYSE">IVC</a>) was down, falling around 12 percent to $8.65 after the company reported a wider-than-expected quarterly loss.

	 
	Commodities

	 
	In commodity news, oil traded down 1.40 percent to $48.02 while gold traded down 0.27 percent to $1,273.40.
	Silver traded up 0.02 percent Monday to $17.80, while copper rose 0.11 percent to $2.20.

	Eurozone
	European shares were lower today. The eurozone&rsquo;s STOXX 600 slipped 0.48 percent, the Spanish Ibex Index fell 0.54 percent, while Italy&rsquo;s FTSE MIB Index dropped 0.71 percent. Meanwhile the German DAX slipped 0.30 percent, and the French CAC 40 dropped 0.75 percent while U.K. shares fell 0.54 percent.

	Economics

	U.S. consumer spending rose 0.50 percent for September, versus economists&rsquo; expectations for a 0.50 percent growth. Personal income increased 0.30 percent, versus estimates of a 0.40 percent gain.

	The Chicago PMI dropped to 50.60 in October, versus a prior reading of 54.20. Economists were expecting a reading of 54.00.

	The Dallas Fed manufacturing index for October will be released at 10:30 a.m. ET.

	The Treasury is set to auction 3-and 6-month bills at 11:30 a.m. ET.

	Data on farm prices for October will be released at 3:00 p.m. ET.

Mid-Morning Market Update: Markets Mostly Higher; General Electric, Baker Hughes To Create World-Leading Oilfield Tech Provider

<h3>
	 
	Gainers</h3>
<ul>
<li>
		TeamHealth Holdings Inc (NYSE: <a class="ticker" href="/stock/tmh#NYSE">TMH</a>) rose 15.5 percent to $42.50 in pre-market trading after the company agreed be purchased by Blackstone Group LP (NYSE: <a class="ticker" href="/stock/bx#NYSE">BX</a>) at $43.50 per share in cash.</li>
<li>
		Marvell Technology Group Ltd. (NASDAQ: <a class="ticker" href="/stock/mrvl#NASDAQ">MRVL</a>) shares rose 10.3 percent to $14.45 in pre-market trading after declining 0.15 percent on Friday.</li>
<li>
		Noodles &amp; Co (NASDAQ: <a class="ticker" href="/stock/ndls#NASDAQ">NDLS</a>) rose 9.9 percent to $5.00 in the pre-market trading. Noodles &amp; Company is expected to announce Q3 results on November 3, 2016.</li>
<li>
		Level 3 Communications, Inc. (NYSE: <a class="ticker" href="/stock/lvlt#NYSE">LVLT</a>) rose 7.3 percent to $58.00 in pre-market trading after Centurylink Inc (NYSE: <a class="ticker" href="/stock/ctl#NYSE">CTL</a>) confirmed Monday it has reached an agreement in which it will acquire Level 3 Communications in a cash and stock transaction that values the company at $34 billion or $66.50 per share.</li>
<li>
		Omeros Corporation (NASDAQ: <a class="ticker" href="/stock/omer#NASDAQ">OMER</a>) shares rose 5.7 percent to $8.30 in pre-market trading after the company disclosed that it has requested the fast track designation for OMS721 for the treatment of IgA nephropathy.</li>
<li>
		Baker Hughes Incorporated (NYSE: <a class="ticker" href="/stock/bhi#NYSE">BHI</a>) shares rose 5.3 percent to $24.75 in pre-market trading after General Electric Company (NYSE: <a class="ticker" href="/stock/ge#NYSE">GE</a>) confirmed that it has entered into an agreement in which its oil and gas business will combine with Baker Hughes to create a world-leading oilfield technology provider.</li>
<li>
		Mobil&#39;nye Telesistemy PAO (ADR) (NYSE: <a class="ticker" href="/stock/mbt#NYSE">MBT</a>) rose 4.6 percent to $7.50 in pre-market trading after dropping 0.83 percent on Friday.</li>
<li>
		Check Point Software Technologies Ltd. (NASDAQ: <a class="ticker" href="/stock/chkp#NASDAQ">CHKP</a>) rose 3.1 percent to $83.50 in pre-market trading after the company reported better than expected results for the third quarter.</li>
<li>
		Fossil Group Inc (NASDAQ: <a class="ticker" href="/stock/fosl#NASDAQ">FOSL</a>) rose 2.6 percent to $27.17 in pre-market trading. Fossil Group is expected to release Q3 results on November 3, 2016.</li>
<li>
		Micron Technology, Inc. (NASDAQ: <a class="ticker" href="/stock/mu#NASDAQ">MU</a>) rose 2.6 percent to $17.65 in the pre-market trading session after dropping 1.88 percent on Friday.</li>
</ul>

	Find out what&#39;s going on in today&#39;s market and bring any questions you have to <a href="http://premarket.benzinga.com/pre-market-show/">Benzinga&#39;s PreMarket Prep</a>.
<h3>
	Losers</h3>
<ul>
<li>
		Memorial Production Partners LP (NASDAQ: <a class="ticker" href="/stock/memp#NASDAQ">MEMP</a>) shares fell 35.8 percent to $0.70 in pre-market trading as the company announced Friday that it will suspend quarterly cash distribution. Stifel Nicolaus downgraded Memorial Production Partners from Hold to Sell.</li>
<li>
		Gravity Co., LTD. (ADR) (NASDAQ: <a class="ticker" href="/stock/grvy#NASDAQ">GRVY</a>) shares fell 17.7 percent to $19.30 in pre-market trading after surging 115.38 percent on Friday.</li>
<li>
		Zimmer Biomet Holdings Inc (NYSE: <a class="ticker" href="/stock/zbh#NYSE">ZBH</a>) fell 6.2 percent to $115.00 in pre-market trading. Zimmer Biomet reported Q3 adjusted earnings of $1.79 per share on sales of $1.83 billion. The company also lowered the high end of previously issued FY16 earnings outlook.</li>
<li>
		Centurylink Inc (NYSE: <a class="ticker" href="/stock/ctl#NYSE">CTL</a>) shares fell 6.7 percent to $28.35 in pre-market trading as the company agreed to acquire Level 3 Communications.</li>
<li>
		Vipshop Holdings Ltd - ADR (NYSE: <a class="ticker" href="/stock/vips#NYSE">VIPS</a>) shares fell 3.8 percent to $13.06 in pre-market trading after slipping 0.59 percent on Friday.</li>
<li>
		Dominion Midstream Partners LP (NYSE: <a class="ticker" href="/stock/dm#NYSE">DM</a>) fell 3.1 percent to $23.15 in pre-market trading. Dominion Midstream posted Q3 earnings of $0.30 per share on revenue of $85 million and agreed to acquire Questar Pipeline from Dominion Resources for $1.725 billion. The company also announced a 12 million share offering on heels of pipeline acquisition.</li>
</ul>

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