Spinnaker ETF Series Genter Capital Taxable Quality Intermediate ETF (ARCA: GENT)

Spinnaker ETF Series Genter Capital Taxable Quality Intermediate ETF (ARCA:GENT), Quote.Headers.trade-ideas

The Fund is actively managed and will not seek to replicate the performance of an index. Under normal market conditions, the Fund invests at least 80% of its net assets in a diversified portfolio of municipal obligations, the interest on which is exempt from regular federal income tax. While these securities will be exempt from federal income taxes, a significant portion of these securities could be subject to the alternative minimum tax.

Genter Capital Taxable Quality Intermediate ETF

News

GENT

JAZZ

Jazz Pharmaceuticals, Gentium Announce European Commercial Launch ff First Approved Life-Saving Treatment for Severe Hepatic Veno-Occlusive Disease

ACUR

ALXN

Acura Pharmaceuticals, Inc. (ACUR) Looks Good: Stock Adds 5.1% in Session - Tale of the Tape

Actelion&#39;s Opsumit Cleared in Switzerland - Analyst Blog

Spinnaker ETF Series Genter Capital Taxable Quality Intermediate ETF

G5 ENTERTAINMENT AB by G5 Entertainment AB

G5 Entertainment AB

GENTING PLANTATIONS BHD by GENTING PLANTATIONS BHD.

GENTECH HOLDINGS INC by GenTech Holdings Inc.

GenTech Holdings Inc

GENTERA SAB DE CV ORD by Gentera Sab De CV

Gentera SAB de CV

COMPARTAMOS SAB DE CV ADR by Gentera Sab De CV

Gentex Corp

Gentherm Inc

Genting Bhd

GENTING BERHAD SPONS ADR by Genting Berhad

GENTING HONG KONG LTD ORD by Genting Hong Kong Ltd.

Genting Hong Kong Ltd

GENTING MALAYSIA BHD ORD by Genting Malaysia Berhad

Genting Malaysia Bhd

GENTING MALAYSIA S/ADR by Genting Malaysia Berhad

GENTING SINGAPORE LTD by Genting Singapore Limited

Genting Singapore Ltd

GENTING SINGAPRE UNSP/ADR by Genting Singapore Limited

GENTOR RESOURCES INC by Gentor Resources, Inc.

Gentor Resources Inc

Gentium Holders Sue to Stop Jazz Pharma Purchase

Major indices received a boost in Friday's trading activity following a better than expected third quarter GDP. The surprising economic data is yet another key data that may suggests that the economy is healthy enough and could handle the Fed's recent decision to taper its bond buying program.

	In a statement, Boston Fed Chief Eric Rosengren noted “I, too, expect the economy to continue to improve, and my forecast is for real GDP to grow at a rate close to 3 percent next year. Like the Committee, my assessment has brightened in recent months. But, by the same token, I do not yet have sufficient confidence in this outlook to risk the removal of any monetary accommodation at this time.”
<ul><li>
		The Dow gained 0.26 percent, closing at 16,221.40.</li>
	<li>
		The S&amp;P 500 gained 0.49 percent, closing at 1,818.55.</li>
	<li>
		The Nasdaq gained 1.15 percent, closing at 4,104.74.</li>
	<li>
		Gold gained 0.60 percent, trading at $1,200.80 an ounce.</li>
	<li>
		Oil gained 0.09 percent, trading at $99.13 a barrel.</li>
	<li>
		Silver gained 0.88 percent, trading at $19.35 an ounce.</li>
</ul>


	<a href="http://www.benzinga.com/news/13/12/4171434/will-stocks-see-a-santa-claus-rally-next-week">Related: Will Stocks See A Santa Claus Rally Next Week?</a>

	News of Note

	Third Quarter GDP increased 4.1 percent, above the 3.6 percent consensus.

	Third Quarter Corporate Profits rose $39.2 billion, higher than the previous reading of $38.3 billion.

	December Kansas City Fed Manufacturing Survey came in at -3.0 compared to a previous reading of +7.0 in November.

	Yesterday's Federal Reserve balance sheet showed that the central bank's assets reached a record $4.01 trillion.

	The Bank of Japan has left its key interest rate at 0.1 percent and maintained its commitment to expand the monetary base by 60 to 70 trillion Yen a year.

	The S&amp;P has cut its EU long-term credit rating to AA+ from a previous AAA due to an “overall weaker creditworthiness of the EU's 28 member states.” Outlook remained at stable and doesn't affect the ratings of individual countries.

	Chinese stocks suffered its ninth consecutive session of declines, the worst run since 1994. Borrowing remains difficult despite the central bank's recent emergency cash injection yesterday of 200 billion yuan (approximately $33 billion.)

	Equities-Specific News of Note

	Analysts at Credit Suisse upgraded Carnival (NYSE: <a class="ticker" href="/stock/ccl#NYSE">CCL</a>) to Outperform from a previous Neutral rating following the company's strong earnings report which included an EPS beat of $0.04. The analysts placed a $43 price target on shares. Shares gained 2.13 percent, closing at $38.86.

	Analysts at JPMorgan admitted defeat in rating 3M (NYSE: <a class="ticker" href="/stock/mmm#NYSE">MMM</a>) with a previous Underweight rating and upgraded shares to Neutral. The analysts changed perspective came as a result of the company's recently announced dividends, share buyback and future guidance. Shares hit new 52 week highs of $138.09 before closing at $137.06, up 0.48 percent.

	<a href="http://www.benzinga.com/trading-ideas/long-ideas/13/12/4171452/stocks-that-pay-dividends-are-the-great-equalizers-for-income">Related: Stocks that Pay Dividends are The Great Equalizers for Income Disparity</a>

	Analysts at Credit Suisse named Chevron (NYSE: <a class="ticker" href="/stock/cvx#NYSE">CVX</a>) as a top energy pick for 2014. The analysts noted the company could be active in its M&amp;A and acquire a top E&amp;P (exploration and production) firm such as PDC Energy, (NASDAQ: <a class="ticker" href="/stock/pdce#NASDAQ">PDCE</a>) Diamondback Energy (NASDAQ: <a class="ticker" href="/stock/fang#NASDAQ">FANG</a>) and EOG Resources (NYSE: <a class="ticker" href="/stock/eog#NYSE">EOG</a>). Chevron lost 0.36 percent, closing at $122.78. PDC Energy gained 2.59 percent, closing at $53.40, Diamondback Energy gained 1.89 percent, closing at $50.74 and EOG Resources gained 1.84 percent, closing at $168.37.

	<a href="http://www.benzinga.com/news/13/12/4171541/brent-poised-to-end-on-a-gain">Related: Brent Poised To End On A Gain</a>

	Analysts at Cleveland Research noted a positive read of J.C. Penney's (NYSE: <a class="ticker" href="/stock/jcp#NYSE">JCP</a>) December sales trends including an improved comparable store sales trends. Shares gained 4.52 percent, closing at $8.32.

	Analysts at Citigroup downgraded Transocean (NYSE: <a class="ticker" href="/stock/rig#NYSE">RIG</a>) to Sell from Neutral with a $40 price target as part of a negative call on the entire offshore drilling services sector. The analysts noted that pricing power is beginning to erode in the sector. Shares lost 0.31 percent, closing at $47.01.

	Analysts at Goldman Sachs downgraded Domino's Pizza (NYSE: <a class="ticker" href="/stock/dpz#NYSE">DPZ</a>) to Neutral from Buy based on valuation reasons and that the Pizza chain's global growth potential is already factored into the share price. Shares gained 0.36 percent, closing at $68.93.

	Analysts at Credit Suisse reiterated an Outperform rating on Bristol-Myers Squibb (NYSE: <a class="ticker" href="/stock/bmy#NYSE">BMY</a>) following its divestiture of its diabetes JV stake. The analyst raised its price target to $60.00 from a prevous $56.00. Shares lost 0.74 percent, closing at $53.44.

	Fastenal (NASDAQ: <a class="ticker" href="/stock/fast#NASDAQ">FAST</a>) announced that it does not expect to report a positive fourth quarter. The company said it will likely miss analysts EPS expectations due to weakness in heavy manufacturing and lower than expected gross margins. The company is expected to announce results on January 17. Shares lost 4.94 percent, closing at $45.64.

	Sprint (NYSE: <a class="ticker" href="/stock/s#NYSE">S</a>) is allegedly involved with up to six banks to work out financing proposals for a potential bid of T-Mobile USA (NYSE: <a class="ticker" href="/stock/tmus#NYSE">TMUS</a>). Shares of Sprint hit new 52 week highs of $9.87 before closing at $9.85, up 6.60 percent while shares of T-Mobile USA also hit new 52 week highs of $31.13 before closing at $31.00, up 4.69 percent.

	2014 is a “must win” for PepsiCo (NYSE: <a class="ticker" href="/stock/pep#NYSE">PEP</a>) in India. In a letter to employees, the company's Indian chief told employees that the company “cannot afford to lose a day” and called for “relentless execution” as it battles Coca-Cola (NYSE: <a class="ticker" href="/stock/ko#NYSE">KO</a>) to gain market share in one of the fastest growing markets worldwide. Shares of Pepsi gained 0.32 percent, closing at $81.92 while Coca-Cola gained 0.45 percent, closing at $40.04.

	Winners of Note

	Last night, a Jazz Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) subsidiary is set to offer $57 per share for Gentium (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>). The deal gives Jazz Defitelio, which will be “highly complementary to the company's experience in and focus on orphan diseases in the area of hematology/oncology.” Analysts at Brean Capital increased its price target on Jazz to $171 following the acquisitions. Shares of Jazz hit new 52 week highs of $126.84 before closing at $123.91, up 8.01 percent. Gentium gained 2.82 percent, closing at $57.22, a slight premium above the offer price.

	Oracle (NASDAQ: <a class="ticker" href="/stock/orcl#NASDAQ">ORCL</a>) announced it will acquire Responsys (NASDAQ: <a class="ticker" href="/stock/mktg#NASDAQ">MKTG</a>) in a $1.5 billion deal which values shares at $27.00. The move is seen as a strategic initiative as Oracle is loking to compete against competitors such as Salesforce.com. (NYSE: <a class="ticker" href="/stock/crm#NYSE">CRM</a>) Shares of Responsys gained 40.34 percent, closing at $27.40 while Oracle lost 0.63 percent, closing at $36.37. News of the acquisition in the field also sent shares of Constant Contact (NASDAQ: <a class="ticker" href="/stock/ctct#NASDAQ">CTCT</a>) to new 52 week highs of $31.34 before closing the day at $30.60, up 6.84 percent.

	Ambarella (NASDAQ: <a class="ticker" href="/stock/amba#NASDAQ">AMBA</a>) announced it will be working with Google (NASDAQ: <a class="ticker" href="/stock/goog#NASDAQ">GOOG</a>) on a “new class of wearable cameras” for the Helpouts application and services. The two companies will join together at the Consumer Electronics Show to demonstrate the wearable camera. Shares of Ambarella hit new 52 week highs of $28.83 before closing the day at $27.94, up 11.45 percent.

	Ariad Pharmaceuticals (NASAQ: ARIA) said that the FDA has approved a revised USPI and a REMS for Iclusig. The move “allows immediate resumption of its marketing and commercial distribution” as the drug was suspended in October. Shares gained 16.49 percent, closing at $6.43.

	<a href="http://www.benzinga.com/general/education/13/12/4173364/fda-delays-decision-on-amarins-vascepa-drug">Related: FDA Delays Decision on Amarin's Vascepa Drug</a>

	Analysts at RBC Capital Markets initiated coverage of Nimble Storage (NASDAQ: NMBL) with an Outperform rating and $40 price target. The analysts noted the company's shares represents an extremely attractive price to performance ratio that makes the company a potential M&amp;A target. Shares hit new 52 week highs of $39.49 before closing at $37.50, up 5.78 percent.

	Decliners of Note

	CarMax (NYSE: <a class="ticker" href="/stock/kmx#NYSE">KMX</a>) reported its third quarter results this morning. The company's EPS of $0.47 came in below the consensus estimate of $0.48. Revenue of $2.94 billion came in above the consensus estimate of $2.89 billion. The company noted that it saw a tightening of the credit terms offered by its subprime providers. Shares lost 9.37 percent, closing at $48.08.

	Earnings of Note

	BlackBerry (NASDAQ: <a class="ticker" href="/stock/bbry#NASDAQ">BBRY</a>) announced its third quarter results this morning. The company's EPS of a loss of $0.67 came in higher than the consensus estimate of a loss of $0.43. Revenue of $1.2 billion missed the consensus estimate of $1.58 billion. The company announced a new strategic partnership with Foxconn to manufacture future smartphones. Shares of BlackBerry initially fell 6 percent in pre-market trading but reversed these losses as investors saw what some analysts deemed as a sign of life at the company. Shares finished the day higher by 15.52 percent, closing at $7.22.

	Walgreens (NYSE: <a class="ticker" href="/stock/wag#NYSE">WAG</a>) announced its first quarter results this morning. The company's EPS of $0.72 was in line with estimates. Revenue of $18.3 billion came in ahead of the consensus estimate of $17.98 billion. The company noted that traffic increased 0.2 percent and the average basket size was 2.2 percent higher compared to the previous year. Shares gained 3.76 percent, closing at $59.08.

	Quote of the Day

	"However, the company is financially strong, has a broad and trusted product portfolio to work with, a talented employee base and a new leadership team dedicated to implementing our new road map." - BlackBerry's CEO John Chen during the company's conference call today.

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TMUS

Market Wrap For December 20: Markets Gain On GDP Data 

Toward the end of trading Friday, the Dow traded up 0.64 percent to 16,282.95 while the NASDAQ surged 1.31 percent to 4,111.77. The S&amp;P also rose, gaining 0.76 percent to 1,823.90.

Top Headline 
BlackBerry (NASDAQ: <a class="ticker" href="/stock/bbry#NASDAQ">BBRY</a>) <a href="http://www.benzinga.com/news/earnings/13/12/4172320/update-blackberry-posts-weak-q3-results"> swung to a loss </a> in the third quarter.
 
BlackBerry posted a quarterly loss of $4.4 billion, or $8.37 per share, versus a year-ago profit of $9 million, or $0.02 per share. Its adjusted loss came in at $0.67 per share.
 


Its revenue dropped to $1.2 billion from $2.7 billion. However, analysts were estimating a loss of $0.44 per share on revenue of $1.59 billion. BlackBerry also entered into a five-year strategic partnership with Foxconn to develop and manufacture phones.

Equities Trading UP 
Red Hat (NYSE: <a class="ticker" href="/stock/rht#NYSE">RHT</a>) shot up 14.58 percent to $56.25 as the company reported better-than-expected third-quarter results.
 


Shares of Jazz Pharmaceuticals Public Limited Company (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) got a boost, shooting up 7.77 percent to $123.65 after the company announced its <a href="http://www.benzinga.com/news/13/12/4170928/jazz-pharmaceuticals-to-acquire-gentium-for-57-00share"> plans to buy </a> Gentium SpA (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) for around $1 billion.
 
Textron (NYSE: <a class="ticker" href="/stock/txt#NYSE">TXT</a>) was also up, gaining 13.05 percent to $36.82 after news broke that the company was nearing a $1.4 billion deal with Beachcraft.

Equities Trading DOWN 
Shares of TIBCO Software (NASDAQ: <a class="ticker" href="/stock/tibx#NASDAQ">TIBX</a>) were down 11.83 percent to $21.58 on Q4 results. Analysts at UBS downgraded the stock from Buy to Neutral.
 
CarMax (NYSE: <a class="ticker" href="/stock/kmx#NYSE">KMX</a>) shares tumbled 10.23 percent to $47.62 after the company reported a <a href="http://www.benzinga.com/news/earnings/13/12/4172356/update-carmax-posts-downbeat-q3-profit"> weaker-than-expected </a> Q3 profit.
 


Swift Transportation (NYSE: <a class="ticker" href="/stock/swft#NYSE">SWFT</a>) was also down, falling 6.83 percent to $21.95 after the company released some poor guidance after the close on Thursday.

Commodities 
In commodity news, <a href="http://www.benzinga.com/news/13/12/4171541/brent-poised-to-end-on-a-gain"> oil traded up 0.09 percent </a> to $99.13, while gold traded up 1.15 percent to $1,202.70.
 


Silver traded up 0.77 percent Friday to $19.41, while copper rose 0.39 percent to $3.31.

Eurozone 
European shares <a href="http://www.benzinga.com/news/13/12/4171542/german-wage-growth-concerning"> were higher </a> today. The Spanish Ibex Index gained 0.23 percent, while Italy's FTSE MIB Index climbed 0.77 percent. Meanwhile, the German DAX surged 0.74 percent and the French CAC 40 jumped 0.41 percent while U.K. shares gained 0.39 percent.

Economics 
The U.S. economy expanded at an annual pace of 4.1% in the third quarter, versus a prior reading of a 3.6% growth. However, economists were expecting a growth of 3.6%.
 
The Kansas City Fed manufacturing index declined to -3.00 in December, versus a prior reading of 7.00. However, economists were expecting a reading of 6.00.

Earnings

Guidance

Eurozone

Futures

Commodities

Forex

Global

Econ #s

Economics

Intraday Update

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Tech

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TIBX

Mid-Afternoon Market Update: Textron Rises as Markets Rise Across the Board

Midway through trading Friday, the Dow traded up 0.48 percent to 16,255.95 while the NASDAQ surged 0.98 percent to 4,097.77. The S&amp;P also rose, gaining 0.57 percent to 1,819.90.

Top Headline 
BlackBerry (NASDAQ: <a class="ticker" href="/stock/bbry#NASDAQ">BBRY</a>) <a href="http://www.benzinga.com/news/earnings/13/12/4172320/update-blackberry-posts-weak-q3-results"> swung to a loss </a> in the third quarter.
 
BlackBerry posted a quarterly loss of $4.4 billion, or $8.37 per share, versus a year-ago profit of $9 million, or $0.02 per share. Its adjusted loss came in at $0.67 per share.
 


Its revenue dropped to $1.2 billion from $2.7 billion. However, analysts were estimating a loss of $0.44 per share on revenue of $1.59 billion. BlackBerry also entered into a five-year strategic partnership with Foxconn to develop and manufacture phones.
 
Equities Trading UP 
Red Hat (NYSE: <a class="ticker" href="/stock/rht#NYSE">RHT</a>) shot up 18.76 percent to $58.19 as the company reported better-than-expected third-quarter results.

Shares of Jazz Pharmaceuticals Public Limited Company (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) got a boost, shooting up 6.24 percent to $121.88 after the company announced its <a href="http://www.benzinga.com/news/13/12/4170928/jazz-pharmaceuticals-to-acquire-gentium-for-57-00share"> plans to buy </a> Gentium SpA (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) for around $1 billion.

The Jones Group (NYSE: <a class="ticker" href="/stock/jny#NYSE">JNY</a>) was also up, gaining 4.78 percent to $14.81 after the company <a href="http://www.benzinga.com/news/13/12/4171200/the-jones-group-to-be-acquired-by-sycamore-partners-for-15-00share-in-cash"> agreed to be acquired </a> by Sycamore Partners for $15.00 per share in cash.

Equities Trading DOWN 
Shares of TIBCO Software (NASDAQ: <a class="ticker" href="/stock/tibx#NASDAQ">TIBX</a>) were down 14.17 percent to $21.01 on Q4 results. Analysts at UBS downgraded the stock from Buy to Neutral.

CarMax (NYSE: <a class="ticker" href="/stock/kmx#NYSE">KMX</a>) shares tumbled 8.45 percent to $48.57 after the company reported a <a href="http://www.benzinga.com/news/earnings/13/12/4172356/update-carmax-posts-downbeat-q3-profit"> weaker-than-expected </a> Q3 profit.
 


Fastenal Company (NASDAQ: <a class="ticker" href="/stock/fast#NASDAQ">FAST</a>) was down, falling 4.97 percent to $45.63 after the company lowered its Q4 forecast.

Commodities 
In commodity news, <a href="http://www.benzinga.com/news/13/12/4171541/brent-poised-to-end-on-a-gain"> oil traded down 0.07 percent </a> to $98.97, while gold traded up 0.85 percent to $1,203.70.
 


Silver traded up 1.27 percent Friday to $19.43, while copper rose 0.41 percent to $3.31.

Eurozone 
European shares <a href="http://www.benzinga.com/news/13/12/4171542/german-wage-growth-concerning"> were higher </a> today. The Spanish Ibex Index gained 0.23 percent, while Italy's FTSE MIB Index climbed 0.77 percent. Meanwhile, the German DAX surged 0.74 percent and the French CAC 40 jumped 0.41 percent while U.K. shares gained 0.39 percent.

Economics 
The U.S. economy expanded at an annual pace of 4.1% in the third quarter, versus a prior reading of a 3.6% growth. However, economists were expecting a growth of 3.6%.
 
The Kansas City Fed manufacturing index declined to -3.00 in December, versus a prior reading of 7.00. However, economists were expecting a reading of 6.00.

Mid-Day Market Update: Red Hat Surges On Upbeat Results; CarMax Shares Decline

Following the market opening Friday, the Dow traded up 0.34 percent to 16,234.50 while the NASDAQ surged 0.46 percent to 4,076.68. The S&amp;P also rose, gaining 0.35 percent to 1,815.97.

Top Headline 
BlackBerry (NASDAQ: <a class="ticker" href="/stock/bbry#NASDAQ">BBRY</a>) <a href="http://www.benzinga.com/news/earnings/13/12/4172320/update-blackberry-posts-weak-q3-results"> swung to a loss </a> in the third quarter.
 
BlackBerry posted a quarterly loss of $4.4 billion, or $8.37 per share, versus a year-ago profit of $9 million, or $0.02 per share. Its adjusted loss came in at $0.67 per share.
 


Its revenue dropped to $1.2 billion from $2.7 billion. However, analysts were estimating a loss of $0.44 per share on revenue of $1.59 billion. BlackBerry also entered into a five-year strategic partnership with Foxconn to develop and manufacture phones.
 
Equities Trading UP 
Red Hat (NYSE: <a class="ticker" href="/stock/rht#NYSE">RHT</a>) shot up 13.06 percent to $55.40 as the company reported better-than-expected third-quarter results.

Shares of Jazz Pharmaceuticals Public Limited Company (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) got a boost, shooting up 8.18 percent to $124.10 after the company announced its <a href="http://www.benzinga.com/news/13/12/4170928/jazz-pharmaceuticals-to-acquire-gentium-for-57-00share"> plans to buy </a> Gentium SpA (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) for around $1 billion.

The Jones Group (NYSE: <a class="ticker" href="/stock/jny#NYSE">JNY</a>) was also up, gaining 4.81 percent to $14.81 after the company <a href="http://www.benzinga.com/news/13/12/4171200/the-jones-group-to-be-acquired-by-sycamore-partners-for-15-00share-in-cash"> agreed to be acquired </a> by Sycamore Partners for $15.00 per share in cash.

Equities Trading DOWN 
Shares of TIBCO Software (NASDAQ: <a class="ticker" href="/stock/tibx#NASDAQ">TIBX</a>) were down 12.66 percent to $21.38 on Q4 results. Analysts at UBS downgraded the stock from Buy to Neutral.

CarMax (NYSE: <a class="ticker" href="/stock/kmx#NYSE">KMX</a>) shares tumbled 7.54 percent to $49.05 after the company reported a <a href="http://www.benzinga.com/news/earnings/13/12/4172356/update-carmax-posts-downbeat-q3-profit"> weaker-than-expected </a> Q3 profit.
 


Fastenal Company (NASDAQ: <a class="ticker" href="/stock/fast#NASDAQ">FAST</a>) was down, falling 6.21 percent to $45.03 after the company lowered its Q4 forecast.

Commodities 
In commodity news, <a href="http://www.benzinga.com/news/13/12/4171541/brent-poised-to-end-on-a-gain"> oil traded down 0.32 percent </a> to $98.72, while gold traded up 0.06 percent to $1,194.30.
 


Silver traded up 0.13 percent Friday to $19.21, while copper rose 0.29 percent to $3.31.

Eurozone 
European shares <a href="http://www.benzinga.com/news/13/12/4171542/german-wage-growth-concerning"> were higher </a> today. The Spanish Ibex Index gained 0.16 percent, while Italy's FTSE MIB Index climbed 0.61 percent. Meanwhile, the German DAX surged 0.61 percent and the French CAC 40 jumped 0.16 percent while U.K. shares gained 0.39 percent.

Economics 
The U.S. economy expanded at an annual pace of 4.1% in the third quarter, versus a prior reading of a 3.6% growth. However, economists were expecting a growth of 3.6%.
 
The Kansas City Fed manufacturing index for December will be released at 11:00 a.m. ET.

Mid-Morning Market Update: Markets Rally; BlackBerry Posts Q3 Loss

Gentium Spikes Higher

Wedbush downgrades Gentium SpA (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) from Outperform to Neutral and lowers the price target from $68.00 to $57.00.

Downgrades

Analyst Ratings

Wedbush Downgrades Gentium SpA to Neutral, Lowers PT to $57.00

ETF Outlook for Friday, December 20, 2013

	United States Oil ETF (NYSE: <a class="ticker" href="/stock/uso#NYSE">USO</a>)

	The price of oil spiked on the open Thursday and USO held on for a gain of 0.8 percent even though it closed well off the intraday high. The ETF hit a new two-month high as the energy commodities continue to outperform their peers.

	On the flip side was gold, which hit a new multi-year low. As long as USO can hold above the breakout level of $35/share it could in the early stages of beginning a new uptrend.

	iShares Mortgage REITs ETF (NYSE: <a class="ticker" href="/stock/rem#NYSE">REM</a>)

	The mortgage REIT sector has been hit hard the last few months as the dividend cuts continue to be announced. On of the largest in the sector and one of the largest holdings of REM lowered their dividend payout again last night.

	See also: <a href="http://www.benzinga.com/news/earnings/13/12/4171544/premarket-primer-friday-december-20-housing-and-jobs-data-create-a-small#ixzz2o139z8LT" style="font-size:13px;">#PreMarket Primer: Friday, December 20: Housing And Jobs Data Create A Small Wrinkle In US Outlook</a>

	Annaly Capital Management (NYSE: <a class="ticker" href="/stock/nly#NYSE" style="font-size:13px;">NLY</a>) lowered the quarterly dividend from $0.35 to $0.30, a decrease of 14 percent. The annual yield remains extremely high at 12.2 percent and the stock trades at a massive discount to book value, however the trend of lower payouts and rising interest rates are not good signs for the sector and REM.

	iShares NASDAQ Biotech ETF (NYSE: <a class="ticker" href="/stock/ibb#NYSE">IBB</a>)

	An announcement after the closing bell yesterday that Jazz Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) is offering to buy Gentium (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) for approximately $1 billion had both stocks trading higher. JAZZ is not a large position (top 15) in IBB, but the news of more mergers in the biotech sector can be viewed as a positive for all stocks in the sector.

	The trend of M&amp;A activity in biotechs as well as related sectors should continue into 2014 and today the news from last night could be enough to see IBB close higher.

	First Trust Natural Gas Index ETF (NYSE: <a class="ticker" href="/stock/fcg#NYSE">FCG</a>)

	The natural gas stocks finally began to move yesterday and may catch up to the big move that has been made in the natural gas futures. The futures are at the highest level since July 2011, but the ETF that tracks the stocks has been in a downtrend for the last two months.

	The bullish news is that FCG held important price support at $18.75 and today rallied to close at $19.10. The RSI also triggered a buy signal and if the move in the natural gas futures continues it should boost interest in stocks that make up the ETF.

Sector ETFs

Specialty ETFs

Previews

Pre-Market Outlook

Trading Ideas

ETFs

First Trust ISE-Revere Natural Gas Index Fund

iShares FTSE NAREIT Mortgage PLUS Capped Index Fund

ETF Outlook for Friday, December 20 (REM, USO, IBB, FCG)

The following are the M&amp;A deals, rumors and chatter circulating on Wall Street for Thursday December 19, 2013.

Jazz Pharmaceuticals to Acquire Gentium for $57.00/Share in Cash

The Deal: Jazz Pharmaceuticals (NASDAQ: <a class="ticker" href="/stock/jazz#NASDAQ">JAZZ</a>) and Gentium (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) announced Thursday that a subsidiary of Jazz Pharmaceuticals will make a cash tender offer of $57.00 per share for all outstanding Gentium ordinary shares and ADS's, in a transaction that is valued at approximately $1 billion.

The deal is expected to close in Q1 2014.

Jazz closed Thursday at $114.72, and traded at $122 after-hours. Gentium closed at $55.65, and bid at $57.15 after-hours.

Dealertrack to Acquire Dealer.com for $620M in Cash and 8.7M Dealertrack Shares

The Deal: Dealertrack Technologies (NASDSAQ: TRAK) and Dealer.com announced Thursday a definitive agreement for Dealertrack to acquire Dealer.com for approximately 8.7 million shares of Dealertrack's common stock and $620 million in cash.

The deal is expected to close in Q1 2014.

Dealertrack Technologies closed Thursday at $42.80 and traded at $45.89 after-hours. 

Report Liberty Execs Estimate $700M in Synergies with Charter-Time Warner Cable Merger

The Rumor: Reuters reported Thursday that Liberty Media (NASDAQ: <a class="ticker" href="/stock/lmca#NASDAQ">LMCA</a>) executives, including Chairman John Malone and CEO Greg Maffei, estimated that a merger between Charter Communications (NASDAQ: <a class="ticker" href="/stock/chtr#NASDAQ">CHTR</a>) and Time Warner Cable (NYSE: <a class="ticker" href="/stock/twc#NYSE">TWC</a>) could generate approximately $700 million in annual synergies, according to sources.

The matter was reportedly discussed last week at a meeting with large Time Warner Cable shareholders in Denver. Bloomberg reported last week that Charter was preparing an offer of under $135 per share for the nation's second largest cable operator.

Time Warner Cable closed Thursday at $133.74, a loss of $0.75.

Rumors

Management

CHTR

LMCA

Benzinga's M&A Chatter for Thursday December 19, 2013

Gentium Shares Resume Trade, Now Up 0.4%

Shares of Gentium Open for Trade, Not Yet Seeing Any Movement in Price, Bid at $57.15

PREVIEW: Gentium to Resume Trading at 5:15 PM ET

Jazz Pharmaceuticals Trading at $118  Following Announcement of Gentium Acquisition

Jazz Pharmaceuticals plc (Nasdaq: <a class="ticker" href="/stock/jazz#Nasdaq">JAZZ</a>) and Gentium S.p.A. (Nasdaq: <a class="ticker" href="/stock/gent#Nasdaq">GENT</a>) today announced that they have entered into a definitive agreement pursuant to which a subsidiary of Jazz Pharmaceuticals will make a cash tender offer of $57.00 per share for all outstanding Gentium ordinary shares and American Depositary Shares, in a transaction that is valued at approximately $1 billion. 
Gentium is a biopharmaceutical company focused on the development and manufacturing of therapies to treat and prevent a variety of rare diseases and conditions that currently have few or no treatment options, including orphan vascular diseases related to cancer treatments.&nbsp; In October 2013, the European Commission granted marketing authorization for Defitelio™ (defibrotide), the
 <a href="http://www.benzinga.com/pressreleases/13/12/n4170926/jazz-pharmaceuticals-and-gentium-s-p-a-announce-agreement-for-jazz-phar">See full press release</a>

Dividends

Jazz Pharmaceuticals to Acquire Gentium for $57.00/Share 

Gentium S.p.A. (Nasdaq: <a class="ticker" href="/stock/gent#Nasdaq">GENT</a>) announced today that the European Commission ("EC") has granted Orphan Drug Designation to Defibrotide for the prevention of Graft versus Host Disease ("GvHD"). The designation follows a positive opinion released by the Committee for Orphan Medicinal Products ("COMP") of the European Medicines Agency ("EMA"), on October 10, 2013.
	Orphan Drug Designation will entitle Defibrotide to ten years of market exclusivity in EU and will provide the Company with development and commercial incentive, access to a centralized review process, protocol assistance and scientific advice during product development, waiving or reduction of certain fees and eligibility for grants and research support initiatives. The EMA grants orphan medicinal product designations to advance the development of drugs intended to treat, prevent or diagnose life-threatening or very serious conditions that are rare and affect not more than 5 in 10,000 persons in EU.
	"We are pleased to receive Orphan Drug Designation for this second indication by the EMA for Defibrotide for the prevention of GvHD," said Dr. Khalid Islam, Gentium's Chairman and Chief Executive Officer. The granting of this Orphan Drug Designation is another important milestone for Defibrotide as we continue our
 <a href="http://www.benzinga.com/pressreleases/13/11/g4090883/gentium-receives-ema-orphan-drug-designation-for-defibrotide-for-the-pr">See full press release</a>

Contracts

Gentium Receives EMA Orphan Drug Designation for Defibrotide

Gentium S.p.A. (NSDSAQ: GENT) today announced that the medical team from the Phase 1 Trial Unit of the Translational Research Center at the National University Corporation, Hamamatsu University School of Medicine ("HUSM"), Fukushima Medical University ("FMU") has successfully completed the phase 1 clinical study to evaluate the Safety and Pharmacokinetics of Defibrotide (DF) in Healthy Adults.
	This Investigator led clinical trial was adopted as a Health and Labour Sciences Research Grant in 2012 for Practical Use of Medical Technology (categorized as a study project to support practical drug/medical device use during the reconstruction of disaster-hit areas in eastern Japan).
	The primary objective of the study was to evaluate the safety and pharmacokinetics of defibrotide in healthy Japanese adult subjects. The secondary objective was to evaluate the effect of defibrotide on the coagulation and fibrinolytic systems in vivo. Two dose levels (3 mg/kg and 6.25 mg/kg, termed Cohort 1 and Cohort 2, respectively) were evaluated, each cohort consisted of 10 subjects (8 subjects were given DF, 2 were given placebo).
	All 20 subjects completed the protocol defined treatment and there were no premature discontinuations. No serious adverse events were noted and only
 <a href="http://www.benzinga.com/pressreleases/13/11/g4071301/gentium-announces-successful-completion-of-defibrotide-phase-1-study-in">See full press release</a>

Offerings

Gentium Successfully Completes Defibrotide Phase 1 Study in Japan 

Gentium (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) reports Q3 EPS of $0.22 versus the estimated $0.18, beating by $0.04. EPS were Up 1% from the same quarter last year. Revenue came in at $15.68M versus the estimated $13.50M. Sales were Up 70% year over year.

GentiumReports Q3 EPS of $0.22 vs $0.18 Est; Revenue of $15.68M vs $13.50M Est

Gentium S.p.A. (NASDAQ: <a class="ticker" href="/stock/gent#Nasdaq">GENT</a>) announced today that the European Commission has granted a Marketing Authorization for Defitelio® (defibrotide) for the treatment of severe hepatic veno-occlusive disease ("VOD") in adults and children undergoing hematopoietic stem cell transplantation therapy. Defitelio® is the first approved treatment in the European Union for this life-threatening condition. This authorization is the formal endorsement of the positive opinion received from the European Medicine Agency's ("EMA") Committee for Human Medicinal Product ("CHMP") on July 26, 2013. The Company intends to begin commercialization of Defitelio® in the European Union in December 2013.
	"Today's authorization of Defitelio® represents an important milestone for Gentium," said Dr. Khalid Islam, Chairman and Chief Executive Officer of Gentium S.p.A. "As the first drug to be approved for the treatment of severe VOD, Defitelio® will provide physicians with a life-saving option addressing a high unmet medical need for a disease with a high mortality rate, in excess of 80%. Gentium is proud of this achievement, which we believe will provide comfort and hope for patients and their families."
	"The decision allows Gentium to market Defitelio® in the 28 Member States of the EU. We expect to
 <a href="http://www.benzinga.com/pressreleases/13/10/g4009438/gentium-receives-marketing-authorization-from-the-european-commission-f">See full press release</a>

Financing

Gentium Receives EC Marketing Authorization for Defitelio

Gentium S.p.A. (NASDAQ: <a class="ticker" href="/stock/gent#NASDAQ">GENT</a>) nnounced today that it has promoted Salvatore Calabrese to the position of Chief Operating Officer effective October 1, 2013. Mr. Calabrese will also continue to serve as the Company's Chief Financial Officer.
	"On behalf of the Company and its Board of Directors, I want to thank Salvatore Calabrese for his dedication and important contributions to the Company and I am delighted to announce his appointment as Chief Operating Officer," said Dr. Khalid Islam, Chairman and Chief Executive Officer of Gentium S.p.A.&nbsp;"Mr. Calabrese joined Gentium S.p.A. in 2005, prior to the listing of the Company in the U.S., and through all of his years, he has made a significant contribution to the success of the Company. While Mr. Calabrese will continue to his role as Chief Financial Officer of the Company, we are confident that Mr. Calabrese will be able to take on greater responsibilities as the Company's Chief Operating Officer overseeing Gentium's corporate operations."
	About Gentium
	Gentium S.p.A., located in Como, Italy, is a biopharmaceutical company focused on the development and manufacture of drugs to treat and prevent a variety of diseases and conditions, including vascular diseases
 <a href="http://www.benzinga.com/pressreleases/13/10/g3959958/salvatore-calabrese-appointed-to-chief-operating-officer-at-gentium-s-p">See full press release</a>

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