Америка сегодня. Данные по рынку труда.

Major European indices trade near their flat lines while Italy's MIB (+1.4%) outperforms. The Bank of England kept its key rate and purchase program unchanged at their respective 0.25% and GBP435 billion, but did raise its growth outlook for 2017 to 2.0% from 1.4%. The central bank's inflation forecast was little changed, calling for CPI of 2.7%.

• In economic data:
  • Eurozone December PPI +0.7% month-over-month (expected 0.4%; last 0.3%); +1.6% year-over-year (consensus 1.3%; previous 0.1%)
  • UK's January Construction PMI 52.2 (expected 53.8; last 54.2)
  • Spain's Unemployment Change 57,300 (expected 60,200; last -86,800)
  • Swiss December Retail Sales -3.5% year-over-year (expected 0.5%; last 0.8%)

---Equity Markets---

• Germany's DAX is down 0.2%. Deutsche Bank is down 4.8% and Daimler has given up 2.9% after both reported disappointing results. Volkswagen and BMW are both down near 0.6% while technology names SAP and Infineon outperform with respective gains of 1.7% and 2.4%.
• France's CAC is higher by 0.2%. ArcelorMittal leads with a gain of 4.1% while consumer names like Pernod Ricard, Kering, L'Oreal, Carrefour, and Danone show gains between 0.2% and 1.1%. Financials trade in the red with Societe Generale, Credit Agricole, and BNP Paribas down between 0.6% and 0.9%.
• UK's FTSE has added 0.4% with miners and energy names showing relative strength. Randgold Resources, Royal Dutch Shell, Anglo American, Fresnillo, and Glencore are up between 1.6% and 3.9%.
• Italy's MIB outperforms with a gain of 1.4%. Ferrari has spiked 4.0% after beating earnings expectations. STMicroelectronics, Mediobanca, Luxottica, and Salvatore Ferragamo are up between 1.0% and 4.4%.

• Commercial Metals Company (CMC) will construct a highly automated steel fence post manufacturing facility on the site of its new micro mill in Durant, Oklahoma. The highly automated production facility will produce a full range of steel posts and shipments are expected to begin in the summer of 2018.
• WPP (WPPGY) announced that GTB, its wholly owned full-service agency dedicated to the Ford Motor Company account, has acquired Zubi Advertising Services, Inc., a full-service advertising agency that focuses on the Hispanic market in the US. Founded in 1976, Zubi employs approximately 120 people and is based in Coral Gables, Florida, with offices in Los Angeles and Detroit.
• Mitel (MITL) announced that it is providing a unified communications solution for the Beijing Rail Transit Control Center in partnership with Beijing Waneasy Technology Co. Ltd. As part of a complete communications renovation, the TCC selected Mitel for its reliability, scalability and flexible convergence capabilities.

Treasuries Tick Higher as Bank of England Revises up Growth Forecast

• U.S. Treasuries are edging higher this morning after the Bank of England kept rates and its asset purchase program unchanged. The central bank did revise its 2017 growth forecast to 2.0% from 1.4% but expects that, over time, imported price inflation will reduce real consumer spending. The Monetary Policy Committee said that higher import prices will help inflation to overshoot the BoE's 2% target. Elsewhere in the world, the 10-year JGB yield rose to 0.12%, above what has been considered to be the permissible range of the Bank of Japan's yield curve control program. A weak 10-year JGB auction help pressure the market but rising global rates will eventually force either more yen depreciation or a revision to the BoJ's -0.10 to 0.10% target. Eurozone producer prices rose at their fastest clip in nearly four years (1.6% y/y) in December but there is a strong tailwind from base effects (oil prices made their lows last February). Whether reflation can be sustained is up for debate. The U.S. Dollar Index is down 0.19% to 99.45 and the S&P 500 is set to open down 0.30% to 2,272.8. WTI crude is adding 0.32% to $54.05/bbl. and gold is up 1.15% to $1,222.2/troy oz., a two-month high
• Yield Check:
  
  • 2-yr: unch at 1.21%
  • 5-yr: -2 bps to 1.92%
  • 10-yr: -1 bp to 2.47%
  • 30-yr: unch at 3.07%

• International News:
  
  • Australia's AIG Manufacturing Index fell to 51.2 for January from 55.4 for December
    
    • Building approvals fell 1.2% m/m in December after jumping 7.5% in November. Economists had expected a sharper decline
    • Australia's trade surplus widened more than expected to AUD3.51 bln in December from AUD2.04 bln in November
  • Japan's monetary base grew by a smaller-than-expected 22.6% y/y in January (Prior: 23.1%)
    
    • An index of household confidence rose less than expected in January to 43.2 (Prior: 43.1)
    • The Ministry of Finance sold JPY2.4 tln ($21.3 bln) of 10-year JGBs at a high yield of 0.092%
  • Korea's consumer price index rose 0.9% m/m in January (2.0% y/y), beating both economists' forecasts and accelerating from December's 0.1% growth
  • Spain saw a smaller-than-expected jump in unemployment of 57.3K workers in January (Prior: -86.8K)
  • Swiss retail sales fell by 3.5% y/y in December, disappointing estimates (Prior 0.8%)
  • The Bank of England's Monetary Policy Committee voted unanimously to keep the Bank Rate at 0.25% and maintain the size of its asset purchase programs
    
    • The BoE did, however, revise its GDP growth forecast for 2017 to 2.0% from 1.4% in the quarterly inflation report. Growth forecasts for 2018 and 2019 were nudged up by a tenth of a percentage point to 1.6% and 1.7%, respectively
    • The 2017 inflation forecast was cut to 2.7% (Prior: 2.8%) and 2018's was held at 2.6%. The MPC sees 2.4% inflation in 2018
  • Separately, the U.K.'s construction purchasing managers' index fell more than expected to 52.2 for January from 54.2 in December
  • The eurozone's producer price index increased by 0.7% m/m in December (1.6% y/y) after climbing 0.3% in November. The year-on-year reading was the highest in almost four years

• Data out Thursday:
  
  • January Challenger Job Cuts: Actual -38.8%, Prior 42.4%
  • Initial Jobless Claims for the week ending 1/28 and Continuing Jobless Claims for the week ending 1/21 (08:30 ET)
  • Q4 Productivity — Preliminary and Unit Labor Costs — Preliminary (08:30 ET)
  • Natural Gas Inventories for the week ending 1/21 (10:30 ET)

Crude futures are on track to close higher for a 3rd consecutive pit trading session, currently up about $0.15 (+0.5%) around the $54.04/barrel level. This morning, Russian energy minister Novak stated Russian companies may cut oil output quicker than previously thought, adding that Russia is fully committed to the global agreement.

• These latest upbeat comments from Russia come on the heels of yesterday's Energy Ministry data, which showed that Russian oil output has declined by 100k barrels/day in Jan.
• Earlier in the week on Tuesday, oil prices were initially supported by data that showed OPEC oil producers are sticking to the agreed-upon output cuts, with OPEC compliance above 80% so far. OPEC has reduced collective output by over 1 mln barrels/day out of their expected portion of the collective output cut of 1.2 mln barrels/day.
• It is also worth noting that yesterday crude oil rallied strong into the close of pit trading, ending at its highest level of the session. The move is attributed to comments out of Washington from the National Security Advisor regarding tensions between the US & Tehran increasing after Iran tested a missile, raising the possibility of future sanctions that could potentially curb Iranian oil supply.
• Finally, it is worth mentioning that this latest 3-day rally flies in the face of yet another bearish reading from API & EIA on Tuesday evening & Wed morning, respectively. EIA data showed inventory builds well above Consensus for both crude & gasoline stocks.
• Reminder: Baker Hughes rig count data will be released tomorrow at 1 pm ET.

After closing flat following yesterday's Fed statement, U.S. equity futures are pointing to a modestly lower open this morning. The S&P 500 futures trade five points below fair value, indicating a 0.2% decline at the open.

U.S. Treasuries currently hold slim gains, trading near their overnight highs. The benchmark 10-yr yield is one basis point lower at 2.47%. 

Crude oil posts a modest gain this morning, looking for its third consecutive win. The energy component is currently up 0.3% at $54.07/bbl as the latest crude oil narrative suggests that OPEC/non-OPEC supply cuts have outweighed an uptick in U.S. production.

Today's economic data will include Initial Claims (Briefing.com consensus 250k) and fourth quarter Productivity (Briefing.com consensus 1.0%). Both reports will cross the wires at 8:30 am ET.

In U.S. corporate news:

• Facebook (FB 134.99, +1.76): +1.3% after beating top and bottom line estimates. 
• Merck (MRK 61.92, -0.18): -0.3% after missing revenue estimates and issuing disappointing guidance.
• Astrazeneca (AZN 26.77, -0.99): -3.6% after reporting below consensus revenues.
• MetLife (MET 53.42, -0.90): -1.7% after reporting worse than expected earnings and revenue.
• Allstate (ALL 78.00, +2.76): +3.7% after beating earnings per share estimates.
• Intel (INTC 36.02, -0.50): -1.4% following reports that Apple (AAPL 128.37, -0.38) is designing a new chip for its Mac laptops. Intel processors currently handle the functionality that the new chip would replace.
• Macy's (M 29.21, -0.33): +5.2% following a NY Post report that retiring CEO Terry Lundgren might be open to a possible sale.

Reviewing overnight developments:

• Equity indices in the Asia-Pacific region ended Thursday on a mixed note with Japan's Nikkei showing relative weakness. China's Shanghai Composite remained closed for Lunar New Year. Japan's Nikkei -1.2%, Hong Kong's Hang Seng -0.6%, India's Sensex +0.3%.
  • In economic data:
    • Japan's Monetary Base +22.6% year-over-year (consensus 24.2%; last 23.1%) and January Household Confidence 43.2 (expected 43.7; previous 43.1)
    • South Korea's January CPI +0.9% month-over-month (expected 0.4%; last 0.1%); +2.0% year-over-year (consensus 1.5%; previous 1.3%)
    • Australia's January AIG Manufacturing Index 51.2 (last 55.4). December Building Approvals -1.2% month-over-month (expected -2.0%; last 7.5%). December trade surplus expanded to AUD3.51 billion from AUD2.04 billion (expected surplus of AUD2.20 billion). December Imports +1.0% month-over-month (last 0.0%) and December Exports +5.0% month-over-month (last 8.0%)
  • In news:
    • Yen strength contributed to the relative weakness in equities, as the Japanese currency returned into the neighborhood of this year's high against the dollar (112.34). Furthermore, yesterday's FOMC statement was not particularly hawkish, allowing the dollar to take a step back.
    • The Australian dollar has outperformed, climbing 1.1% to 0.7672 against the greenback, on the back of strong trade data.

• Major European indices trade near their flat lines while Italy's MIB outperforms. Germany's DAX -0.2%, France's CAC +0.2%, UK's FTSE +0.4%, Italy's MIB +1.4%.
  • In economic data:
    • Eurozone December PPI +0.7% month-over-month (expected 0.4%; last 0.3%); +1.6% year-over-year (consensus 1.3%; previous 0.1%)
    • UK's January Construction PMI 52.2 (expected 53.8; last 54.2)
    • Spain's Unemployment Change 57,300 (expected 60,200; last -86,800)
    • Swiss December Retail Sales -3.5% year-over-year (expected 0.5%; last 0.8%)
  • In news:
    • The Bank of England kept its key rate and purchase program unchanged at their respective 0.25% and GBP435 billion, but did raise its growth outlook for 2017 to 2.0% from 1.4%. The central bank's inflation forecast was little changed, calling for CPI of 2.7%.

• No IPOs Opening Today.

Postponed IPOs:

• Braeburn Pharmaceuticals (BBRX): The commercial stage pharmaceutical company developing long-acting medications for disorders of central nervous system has postponed its 7.7 million share IPO. It was expected to price within a range of $18-$21 and open for trading this morning.

Upcoming IPOs:

• February 3: IC Power (ICP) — The owner, developer and operator of power facilities located in key power generation markets in Latin America, the Caribbean and Israel is expected to price its 25.9 million share IPO within a range 12-$15.

• February 3: Kimbell Royalty Partners (KRP) — The limited partnership formed to own & acquire mineral royalty interests in oil & natural gas properties in US is expected to price its 5.0 million unit IPO within a range of $19-$21.

• February 3: Ramaco Resources (METC) --The miner of metallurgical coal in West Virginia, Virginia, and southwestern Pennsylvania is expected to price its 6.0 million share IPO within a range of $12-$15.

BoE Leaves Rates on Hold, Revises up Growth Forecast

• European sovereign debt yields are universally lower this morning as eurozone periphery bonds see a relief rally from some very sharp losses earlier this week. While the charts still favor the upside in eurozone yields, Wednesday's move looked a bit capitulative as even French OATs joined in the chaos. The 10-year German Bund yield is back below its December ECB-meeting high of 0.47% despite a stronger-than-expected PPI report today. The Bank of England kept monetary policy on hold but revised up its growth forecast for 2017 from 1.4% to 2.0%. The other growth and inflation forecasts were adjusted only modestly and the BoE still forecasts that higher import prices will erode real consumer spending in the longer run
• Central Banks:
  
  • The Bank of England's Monetary Policy Committee voted unanimously to keep the Bank Rate at 0.25% and maintain the size of its asset purchase programs
    
    • The BoE did, however, revise its GDP growth forecast for 2017 to 2.0% from 1.4% in the quarterly inflation report. Growth forecasts for 2018 and 2019 were nudged up by a tenth of a percentage point to 1.6% and 1.7%, respectively
    • The 2017 inflation forecast was cut to 2.7% (Prior: 2.8%) and 2018's was held at 2.6%. The MPC sees 2.4% inflation in 2018
  • The Czech central bank kept monetary policy on hold and renewed its commitment to targeting the koruna around 27 to the euro
• New Issuance:
  
  • France sold EUR4.00 bln of 10-year OATs at a yield of 1.07% with a bid-to-cover of 2.09
  • France sold EUR3.00 bln of 15-year OATs at a yield of 1.48% with a bid-to-cover of 1.82
  • Spain sold EUR991 mln of 20-year ODEs at an average yield of 2.604% with a bid-to-cover of 1.54
  • Spain tapped the ODE expiring in 2030 for EUR1.096 bln an average yield of 2.147% with a bid-to-cover of 1.54
• European Economic Data:
  
  • The U.K.'s construction purchasing managers' index fell more than expected to 52.2 for January from 54.2 in December
  • The eurozone's producer price index increased by 0.7% m/m in December (1.6% y/y) after climbing 0.3% in November. The year-on-year reading was the highest in almost four years
• Yield Check:
  
  • France, 10-yr OAT: -3 bps to 1.05%
  • Germany, 10-yr Bund: -3 bps to 0.45%
  • Greece, 10-yr note: -6 bps to 7.49%
  • Italy, 10-yr BTP: -10 bps to 2.22%
  • Portugal, 10-yr PGB: -10 bps to 4.09%
  • Spain, 10-yr ODE: -5 bps to 1.63%
  • U.K., 10-yr Gilt: -5 bps to 1.40%

• Vocera Communications (VCRA) announced it has earned additional interoperability and security certification by the Department of Defense for its latest software release and wearable communication badge. The Vocera Communication System met stringent criteria of the DoD Unified Capabilities Approved Products List, which allows DoD facilities to purchase and operate UC systems over DoD network infrastructures. This certification is essential to the expansion and deployment of Vocera solutions in U.S. Army Medical Command (MEDCOM) facilities around the world.
• Johnson & Johnson (JNJ) subsidiary Janssen has initiated a collaboration with DayTwo Ltd. and the Weizmann Institute of Science in Rehovot, Israel, to pursue microbiome-based health solutions targeting metabolic disorders
• Pioneer Power Solutions (PPSI) announced that the Company has extended its contract with one of its largest customers, the second largest municipal-owned utility in North America, to supply liquid-filled transformers. The Company expects the five-year contract, which became effective January 1, 2017, to generate annual revenue of approximately $4 million. The contract extends the Company's previous five-year contract with the utility, which expired on December 31, 2016.
• CytomX Therapeutics (CTMX) announced the treatment of the first patient in the PROCLAIM (Probody Clinical Assessment In Man) CX-072 study, a Phase 1/2 clinical trial evaluating CX-072, a PD-L1-targeting Probody therapeutic, as monotherapy and in combination with Yervoy (ipilimumab) or Zelboraf(vemurafenib) in patients with all types of cancers.
• FIS (FIS) announced that it has issued a notice to redeem 100% of the outstanding aggregate principal amount of its $700 million 5.000% Senior Notes due 2022 on March 15, 2017. As previously disclosed, the proceeds received from the sale of the public sector and education business will be used to reduce the company's overall outstanding indebtedness.
• Hemisphere Media Group (HMTV) disclosed in a regulatory filing that it expects to hold a bank meeting on February 3, 2017 to discuss a possible amendment of the Company's operating subsidiaries' $225 million senior term loan. The purpose of the amendment is to, among other things, extend the maturity date of the Existing Term Loan, reduce the interest rate under the Existing Term Loan and make certain other changes thereto.

Gapping up
In reaction to strong earnings/guidance/SSS:

• ESIO +10.4%, KLIC +6.9%
• WFT +6.2%, (also Weatherford and Nabors form alliance for integrated drilling solutions to oil and gas land market in the lower 48 states of the United States)
• CACI +5.5%, HMY +5.4%, IVAC +5.3%, NOK +4.6%, BRKS +4.3%, ACLS +4.2%, ALL +3.7%, DLPH +3.7%, TSCO +3.6%, COST +3.3%, CAVM +3.1%, PH +3.1
• CDNS +3%, PM +2.7%, QGEN +2.6%, LCI +2.4%, ING +2.4%, BDX +2.1%, ZUMZ +2%, (Zumiez reports January comps of +9.4% vs -4.6% year ago and -3.4% last month; sees Q4 EPS at or slightly above high end of $0.60-0.66 prior guidance vs $0.64 consensus)
• AFG +1.5%, IDXX +1.4%, VIRT +1.4%, EXTR +1.3%, MKSI +1.3%, BSX +1.2%, FB +1.1%, MRK +1%, SIRI +1%, KMT +0.9%, RGLD +0.8%, MMC +0.7%
• CNMD +0.6%, COP +0.5%

M&A news:

• MJN +26.3% (confirms discussions with Reckitt Benckiser (RBGLY) with respect to its proposal to acquire the outstanding shares of MJN for $90 per share)
• M +3.4% (NY Post report that exec might be open to possible sale)

Select metals/mining stocks trading higher:

• MTL +4.5%, SSRI +3.9%, AG +3.4%, GFI +2.9%, SLW +2.4%, ABX +2.4%, GDX +2.4%, PAAS +2.4%, GG +2.4%, HL +2.3%, FSM +2.1%, NEM +2.1%, GOLD +2%

Other news:

• EYES +19.7% (announces that the German Institute for the Hospital Remuneration System has renewed Status 1 (full approval) for the Epiretinal Prosthesis across 15 hospitals under the NUB1 innovation program)
• ETRM +6.1% (after closing at highs — up more than 30% on the day)
• PULM +3.5% (after surging 80% higher on Wed)
• SND +1.2% (prices 5.95 mln common stock offering at $17.50/share)

Analyst comments:

• ACIA +3.7% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
• SDLP +3.5% (upgraded to Overweight from Equal-Weight at Morgan Stanley)
• MT +3.4% (added to Conviction Buy List at Goldman)
• ACHN +3.4% (initiated with a Buy at Ladenburg Thalmann)
• MPC +2.4% (upgraded to Buy from Neutral at UBS)
• X +2.3% (upgraded to Buy from Neutral at BofA/Merrill)
• TSO +1.9% (upgraded to Overweight from Neutral at JP Morgan)
• TS +1.7% (upgraded to Buy at Stifel)
• AA +1.4% (upgraded to Overweight from Neutral at JP Morgan)
• PSO +0.9% (upgraded to Neutral at Credit Suisse)

Gapping down
In reaction to disappointing earnings/guidance:

• SFLY -18.9%, (also updates strategic plan / restructuring in 2017; expects to incur 2017 restructuring charges of $15-20 million), EGOV -16.7%
• MLNX -13.7%, CRUS -10.9%, RL -9.9%, (also announces CEO departure; Jane Nielsen to Lead Execution of the Way Forward plan), SBH -7.9%
• PRXL -7.6%, NVO -7.5%, QRVO -6.9%, MTW -6.7%, LM -4.7%, DB -4.3%, XEL -4%, EW -3.9%, BBD -3.9%, KEX -3.8%, AZN -3.5%, MET -3.4%
• SPH -3.3%, AOS -3%, TGI -2%, SYMC -1.9%, (also announces its intention to offer $1.0 billion aggregate principal amount of senior unsecured notes due 2025)
• CSTM -1.8%, (also commences $625 mln offering of senior unsecured notes due 2025)
• AGNC -1.7%, (also announces a $750 mln at-the-market offering of common stock)
• IP -1.7%, VOD -1.4%, HOLX -1.2%, MDU -1.2%, EL -1.2%, CFX -1.1%, SNA -1%, NXTD -0.8%

Other news:

• VNR -67.6% (files petitions for relief under chapter 11 of the U.S. Bankruptcy Code)
• STML -34.4% (cautious comments from biotech blogger Adam Feuerstein)
• AVIR -24.4% (announces top-line data from its double-blind, placebo-controlled Phase 2a study of BTA585 in adults challenged intranasally with respiratory syncytial virus; data indicate there was not a significant reduction in the primary endpoint )
• CVEO -18.1% (Civeo commences an underwritten public offering of 20,000,000 common shares)
• CBAY -13.5% (to offer and sell shares of its common stock; size not disclosed)
• MNKD -8.6% (lower in extend trading after filing a proxy statement for an upcoming special meeting of stockholders under which it will seek approval to effect a reverse stock split )
• FBP -7.4% ( commences 20 mln common stock offering — 10 mln shares by funds affiliated with Thomas H. Lee Partners and 10 mln by Oaktree Capital )
• CORI -3.8% (to offer shares of its common stock in an underwritten public offering)
• CS -2.2% (in sympathy with DB)
• AMAG -1.9% (announces results from its definitive PK study; Makena administered subcutaneously demonstrated bioequivalence to the IM injection)
• LYG -1.2% (in sympathy with DB)

Analyst comments:

• VFC -2.2% (downgraded to Neutral from Buy at Goldman)
• JWN -1.9% (downgraded to Sell from Neutral at Goldman)
• WNC -1.5% (downgraded to Neutral from Overweight at Piper Jaffray)
• URI -0.9% (downgraded to Hold from Buy at Argus)

• The acquisition of NANIUM will strengthen Amkor's position in the fast growing market of wafer-level packaging for smartphones, tablets and other applications.
• NANIUM has developed a high-yielding, reliable WLFO technology, and has successfully ramped that technology to high volume production. NANIUM has shipped nearly one billion WLFO packages to date utilizing a state-of-the-art 300mm Wafer-Level Packaging production line.
• The transaction is expected to close in the first quarter of 2017. 

• Ultratech shareholders will receive (i) $21.75 per share in cash and (ii) 0.2675 of a share of Veeco common stock for each Ultratech common share outstanding. Based on Veeco's closing stock price on Feb 1, 2017, the transaction consideration is valued at ~$28.64 per Ultratech share. The implied total transaction value is ~$815 mln and the implied enterprise value is ~$550 mln, net of Ultratech's net cash balance as of Dec 31, 2016. Post transaction it is projected that Ultratech shareholders will own ~15% of the combined co.
• Veeco expects to realize ~$15 mln in annualized run rate synergies within 24 months after closing, to be achieved through increased efficiencies and leveraging the scale of the combined businesses. The combined co is expected to have an efficient balance sheet, benefiting from the deployment of excess cash.
• The transaction is expected to close in the second calendar quarter of 2017.
• The Boards of both Veeco (VECO) & Ultratech have unanimously approved the transaction.
• Veeco and Ultratech management will host a conference call today to discuss the transaction at 2:00 p.m. PT / 5:00 p.m. ET. This call will replace Ultratech's previously scheduled earnings call which has been canceled.

Filings:

• B.O.S Better Online Solutions (BOSC) files for offering of 284,521 ordinary shares by selling shareholder YA II PN
• Black Stone Minerals (BSM) files for $300 mln offering of Common Units Representing Limited Partner Interests and Other Classes of Units Representing Limited Partner Interests
• Capnia (CAPN) files for 10 mln share common stock offering by Aspire Capital Fund 
• Digital Power Corporation (DPW) files for 1,883,839 share common stock offering by selling stockholders 
• Johnson Controls (JCI) files for mixed securities shelf offering; size undisclosed
• Formula One Group K (FWONK) files for offering of 70,368,436 shares of Series C Liberty Formula One common stock by selling stockholders

Offerings:

• AGNC investment (AGNC) announces a $750 mln at-the-market offering of common stock 
• CymaBay Therapeutics (CBAY) announces that it intends to offer and sell shares of its common stock; size not disclosed
• First Bancorp (FBP) commences 20 mln common stock offering, 10 mln shares by funds affiliated with Thomas H. Lee Partners and 10 mln by Oaktree Capital (OAK) 

Pricings:

• Civeo (CVEO 3.60) prices 20 mln common stock offering at $3.00/share
• Corium (CORI 3.69) prices 6,666,667 share offering at $3.00/share
• Hemispherx Biopharma (HEB 0.64) announces $1 mln registered direct offering at $0.55/share
• Smart Sand (SND 17.65) prices 5.95 mln (upsized twice from initial 4 mln) common stock offering at $17.50/share, of which 1.5 mln shares are to be sold by the co and 4.45 mln shares are to be sold by the selling stockholders