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Feb 3, 2015

SEC Litigation Release: SEC v. Phillip Cory Roberts - February 3, 2015.

SEC Seal

The information bellow  has recently been updated and is now available.

02/03/2015 05:17 PM EST

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 23186 / February 3, 2015

Securities and Exchange Commission v. Phillip Cory Roberts, Civil Action No. 14-mc-80304-VC

The Securities and Exchange Commission announced today that on January 7, 2015, the United States District Court for the Northern District of California entered an order requiring Phillip Cory Roberts ("Roberts") to testify pursuant to an investigative subpoena.
On November 10, 2014, the Commission filed an application to enforce its investigative subpoena. According to its application, on September 23, 2014, the Commission issued a Formal Order Directing Private Investigation entitled In the Matter of BayPeak LLC. Roberts failed to comply with a validly issued and served subpoena for his testimony relating to this investigation. In enforcing the subpoena, the court required Roberts to appear for testimony at the Commission's San Francisco Regional Office within fourteen days of the date of its order.
BayPeak LLC is a California company wholly-owned and operated by Roberts. As disclosed in the application, the Commission is investigating, among other things, whether Roberts, BayPeak LLC, and possibly others violated the federal securities laws in connection with a series of reverse mergers and financing transactions involving shell companies and operating companies with operations primarily in China.
The Commission is continuing to conduct its fact-finding inquiry and has not concluded that anyone has violated the securities laws.
The ruling represents the second time in recent months that the SEC has obtained favorable decisions in subpoena enforcement actions. A similar order was obtained in SEC v. Stilwell, 2014 WL 4631915 (S.D.N.Y. 2014).

WP Wonk P.M. Edition - February 3, 2015.

The Washington Post
WonkPM
The latest from Wonkblog  •  Tue., Feb. 3, 2015

Parents are more willing to lie in front of boys than girls
Women lie. Men lie, possibly more. Maybe we can blame our parents. A new paper released this week by the National Bureau of Economic Research seeks to understand the origin of dishonesty, gendered or otherwise -- and how we can learn to curb it. The dark side of human impulse, researchers found, may start with …  Read full article »

Young adults are driving vaccine skepticism in the U.S.
Who are the vaccine skeptics? On the heels of the Disneyland vaccine outbreak, that's what everyone wants to know. As with just about every other major issue facing the country, the temptation is to divide it along familiar left/right political divides. It may seem natural that Republicans, who tend to be skeptical of mandates and government intrusions, would …  Read full article »
It’s only getting worse to die in America
In 1997, the prestigious Institute of Medicine issued a wake-up call: Americans need much better deaths. Care provided at the end of life was failing patients and families, and a complete overhaul was in order. It's been almost 20 years since that landmark report, but new research suggests that dying has only gotten worse since then. Reports …  Read full article »
Asian food: The fastest growing food in the world
In a matter of only 15 years, Asian cuisine has gone from being a niche food obsession to one of the most popular around the world. Global sales at Asian fast food restaurants have grown by nearly 500 percent since 1999, the fastest growth seen in any fast food category around the world, according to data from …  Read full article »
What a measles outbreak looks like when no one is vaccinated
This post comes via Know More, Wonkblog's social media site. The graphic below, by Bonnie Berkowitz and Lazaro Gamio of The Washington Post, illustrates how measles spreads in an area without a vaccination program. The differently shaded squares represent four generations of infection, from Patient Zero (the darkest red square at the top left) to …  Read full article »
Dying on your own terms: A physician’s advice for a better death
In a new book, “The Conversation”, physician Angelo E. Volandes argues that the the U.S. healthcare system is failing patients in their final acts: Americans are botching death. The problem is that hospitals and doctors are pre-programmed to “do everything” for dying patients - that is, attempt every last measure to prolong life, even if …  Read full article »
A surprisingly accurate map of the U.S. made with 600,000 bridges — and nothing else
  In his 2016 budget, President Obama proposed a one-time tax on foreign earnings in order to fund a $478 billion program to upgrade the nation's roads, bridges, railroads and more. As policymakers debate the merits of the proposal in coming months, it helps to visualize what exactly we're talking about when we talk about the …  Read full article »
The United States is becoming a terrible place for air travel
If you’re searching for a cheap airfare, you’re looking in the wrong country. Really. Go anywhere but the United States. Go to Bangkok, where airfares for North American travelers are down 7 percent over the last year (according to Kayak). Or Milan, where airfares are down 13 percent. Or New Delhi, where airfares are down …  Read full article »
The Washington Post is the #1 print and online media source for opinions leaders inside the beltway. Read more at washingtonpost.com/opinionleaders
Obama’s proposal to help workers who lose out on trade deals probably won’t win Democratic votes
If President Obama's budget is a message to the world about what he’d like to see happen over the next year, Republicans aren’t his only audience — he’s talking to Democrats, too. And if there’s one thing he disagrees with congressional Democrats on most right now, it’s trade. Specifically, Obama wants the power — known …  Read full article »
There’s only one thing that can save Russia’s economy, and it’s not Vladimir Putin
Russia might not be a riddle wrapped in a mystery inside an enigma anymore, but there's still one unanswerable question about it: whether its banks or its currency is more doomed. The latest news is that, after jacking up interest rates from 10.5 to 17 percent to try to prop up the ruble, Russia's central …  Read full article »

DealBook P.M Edition - February 3, 2015: : Smucker to Buy Big Heart Pet Brands for $5.8 Billion.

TUESDAY, FEBRUARY 3, 2015
TOP STORY
Smucker's will add brands like Milk-Bone, Kibbles 'n Bits and Meow Mix to a stable that already includes Smucker's jelly, Jif peanut butter and Folgers coffee.
Smucker to Buy Big Heart Pet Brands for $5.8 BillionThe deal, Smucker's biggest in its 118-year history, seeks to capitalize on a high-growth sector and is expected to revive sales, which have been relatively flat since 2012.

DEALBOOK HIGHLIGHTS
Offices of the ratings agency Standard and Poor's in New York.
S.&.P. Announces $1.37 Billion Settlement With Prosecutors Standard & Poor's, accused of inflating its ratings of mortgage investments that spurred the 2008 financial crisis, also signed a statement that outlined its role in the crisis, but did not admit to wrongdoing.
If completed, a Staples-Office Depot merger would consummate a transaction that was first attempted 18 years ago.
Staples Is Said to Be in Talks to Buy Office DepotPressure for the combination has come from the activist hedge fund Starboard Value, which has called on both companies to merge to better compete against the likes of Walmart and Amazon.
President Obama's fiscal 2016 budget introduces a one-time 14 percent tax on approximately $2 trillion of so-called unrepatriated foreign earnings.
Standard Deduction: Obama's Budget Proposal Would Create an International Minimum Tax for Corporations President Obama's proposal to tax foreign earnings trapped overseas is best thought of as a jobs-friendly international minimum tax.
Brokerage Firms Most Worried About Hackers and Rogue Employees, Finra Report Says The Finra report recommended that all brokerage firms assess their security as well as review the safeguards put in place by their vendors, after finding that a small minority of firms are not yet doing so.
Reuters Breakingviews: Apparent Discount Mars $41 Billion Spectrum Sale A 25 percent "small business" discount claimed by Dish Network is helping the pay-TV company add to its unused stockpile and outbid rival operators that badly need capacity, contends Robert Cyran of Reuters Breakingviews.
Banco Santander Quarterly Profit Rises 69 Percent as Loan Provisions Decline The quarter marked a positive start for Ana Patricia Botín, a longtime Santander executive who was named executive chairwoman in September after her father, Emilio Botín, died of a heart attack at the age of 79.
Arcapita Gets More Than $1 Billion in Sale of Pods The Bahrain private-equity firm had acquired Pods, short for Portable On Demand Storage, in 2007 for $430 million.
Alibaba and Lending Club to Form Financing Partnership The two announced on Tuesday that they were forming a partnership to provide financing for manufacturers in the United States to buy products and supplies through the Chinese marketplace Alibaba.com.
LOOKING AHEAD
Sony Pictures Earnings on Wednesday With many of Sony Pictures' computer applications still down after November's crippling hacking attack, the company will be trying to return to normal with a Wednesday earnings call. It probably will not have final results for the quarter that ended in December 2014 because of continuing efforts to repair its networks. Still, many will be waiting to learn what impact the cyberattack had on Sony.

Perhaps just as important, it may be revealed what the next step is for Sony's beleaguered mobile unit, which recent reports said could shave an additional 1,000 jobs soon.
Twitter Earnings on Thursday Twitter, the popular short-form message service, will report fourth-quarter earnings on Thursday. Investors will pay close attention to the company's user growth numbers, which have paled in comparison to rival networks like Facebook and Instagram, and have not lived up to analysts' expectations over 2014.

And after a year of dismissing important executives who have failed to attract newcomers to the service, Dick Costolo, the company's chief executive, is likely to stave off questions from analysts as to whether he is the right person to lead the company.
Open Internet Rules on Thursday A step toward open Internet, or net neutrality, rules will be made this week. Tom Wheeler, chairman of the Federal Communications Commission, must present his proposal to the other commissioners by Thursday. Mr. Wheeler has already suggested that he favors regulating Internet service like a public utility. But the details of how will be crucial. His proposal will be grist for further debate and lobbying. The commission is scheduled to vote on Feb. 26.
Jobs Figures Are Due on Friday The big kahuna of monthly economic data will come out Friday, when the Labor Department reports the latest figures for hiring and unemployment in January. Payrolls surged in the final quarter of 2014, with employers adding an average of 289,000 workers a month, significantly more than the 246,000 monthly rate for the entire year.

The consensus expectation on Wall Street is that payrolls jumped by 235,000 last month, but some optimists are looking for a considerably larger number if the momentum carried over into 2015. The unemployment rate is expected to fall by 0.1 percentage point to 5.5 percent, but just as significant for economists and traders will be the change in average hourly earnings.

Most workers have had very slight wage growth since the recovery began in 2009, despite the falling unemployment rate, and the Federal Reserve is keeping a close tab on whether wages are finally rising. In December, wages actually fell slightly, but economists are looking for a slight increase in average hourly earnings this time around.
For the latest updates, go to dealbook.nytimes.com »

WSJ | Biggest Gainers Closing on February 3, 2015

Biggest Gainers Closing
Biggest Gainers
4:32 pm ET 02/03/2015
NYSE
ISSUEVOLUMEPRICECHG% CHG
ITT Educational Services (ESI)1,318,044$8.751.7124.29
Paragon Offshore (PGN)3,821,7762.600.4822.64
Seventy Seven Energy (SSE)2,702,9695.140.9121.51
SM Energy (SM)7,461,64749.618.7021.27
Goodrich Petroleum (GDP)8,130,9372.970.5020.24
McDermott International (MDR)13,634,8742.770.4418.88
FMSA Holdings (FMSA)1,441,4876.180.9718.62
Emerge Energy Services (EMES)1,061,22256.018.7318.46
California Resources (CRC)16,927,5676.130.9217.66
MRC Global (MRC)4,361,90812.921.8416.61
Laredo Petroleum (LPI)10,246,00512.891.8316.55
Oasis Petroleum (OAS)22,875,67617.642.3715.52
Cellcom Israel (CEL)161,8385.770.7615.17
Civeo (CVEO)5,836,6483.270.4214.74
Petroleo Brasileiro ADS A (PBRA)24,400,6067.440.9214.11
Baytex Energy (BTE)1,929,91519.642.4214.05
Sanchez Energy (SN)7,907,41614.221.7413.94
Ecopetrol ADS (EC)2,475,65819.802.4013.79
Petroleo Brasileiro ADS (PBR)68,500,8257.290.8813.73
Cyan (CYNI)204,1373.370.4013.47
Comstock Resources (CRK)7,154,1985.740.6813.44
Pacific Drilling (PACD)2,367,5603.910.4613.33
W&T Offshore (WTI)6,364,0796.250.7313.22
Whiting Petroleum (WLL)20,858,83937.234.2012.72
Basic Energy Services (BAS)4,790,9147.000.7812.54
 
Nasdaq
ISSUEVOLUMEPRICECHG% CHG
PostRock Energy (PSTR)1,764,570$4.001.8081.83
Canadian Solar (CSIQ)14,215,91326.695.3725.19
Rex Energy (REXX)8,203,3645.000.9523.46
Office Depot (ODP)55,373,3339.281.6421.47
TeleNav (TNAV)510,9877.951.3821.00
B Communications (BCOM)3,41416.502.4217.19
BreitBurn Energy Partners (BBEP)11,997,0088.901.2115.73
Esperion Therapeutics (ESPR)1,742,04051.786.9915.61
Nanometrics (NANO)525,89118.082.3314.79
Twin Disc (TWIN)100,85018.552.2713.94
Internet Gold-Golden Lines (IGLD)8,8814.840.5913.88
SAExploration Holdings (SAEX)32,7753.610.4413.88
VimpelCom (VIP)5,051,8234.670.5513.35
Legacy Reserves (LGCY)1,763,01711.901.3612.90
LinnCo (LNCO)3,975,58712.201.3912.86
Cumulus Media (CMLS)1,066,6203.850.4111.92
Theravance (THRX)1,394,88111.951.2711.89
EV Energy Partners (EVEP)1,276,37217.181.7611.41
Staples (SPLS)39,300,93719.011.8710.91
Rosetta Resources (ROSE)5,632,65321.652.1210.86
Mitcham Industries (MIND)66,4987.030.6610.36
Ocean Rig UDW (ORIG)1,718,1079.290.8710.33
Linn Energy (LINE)7,591,75411.871.1010.21
Vanguard Natural Resources (VNR)2,115,72617.021.549.95
Applied Micro Circuits (AMCC)2,107,3745.170.459.65
 
NYSE Arca
ISSUEVOLUMEPRICECHG% CHG
Direxion Daily Natural Gas Related Bull 3x Shares (GASL)6,958,331$3.910.6118.48
Direxion Daily Russia Bull 3x Shares (RUSL)2,929,06918.642.6916.87
VelocityShares 3x Long Crude ETN (UWTI)50,756,2903.930.5315.59
Global X FTSE Greece 20 ETF (GREK)2,418,05613.281.5513.21
Market Vectors-Solar Energy ETF (KWT)2,15670.507.1411.27
ProShares Ultra Bloomberg Crude Oil (UCO)27,396,3159.350.8910.52
Direxion Daily Brazil Bull 3X Shares (BRZU)356,2927.890.618.38
Direxion Daily Latin America Bull 3X Shares (LBJ)44,40711.120.858.28
Direxion Daily Energy Bull 3x Shares (ERX)6,525,19060.524.568.15
VelocityShares 3x Long Natural Gas ETN linked to the S&P GSCI Natural Gas Index Excess Return (UGAZ)35,406,6432.950.228.06
Direxion Daily Junior Gold Miners Index Bear 3X Shares (JDST)9,163,8209.050.647.61
Direxion Daily Gold Miners Bear 3x Shares (DUST)11,583,28612.720.897.52
E-TRACS UBS Bloomberg CMCI Energy ETN (UBN)62,0629.900.687.37
Global X Copper Miners ETF (COPX)81,2256.670.436.91
Direxion Daily FTSE Europe Bull 3x Shares (EURL)126,76732.312.086.88
Direxion Daily Retail Bull 3x Shares (RETL)25,077115.097.356.82
Direxion Daily Basic Materials Bull 3X Shares (MATL)6,06362.713.846.52
ProShares Ultra Bloomberg Natural Gas (BOIL)544,53113.420.796.25
Direxion Daily 20+ Year Treasury Bear 3X Shares (TMV)590,40525.261.486.22
First Trust ISE-Revere Natural Gas Index Fund (FCG)3,246,26411.250.656.13
ProShares Ultra Bloomberg Commodity (UCD)12,93213.020.756.11
Direxion Daily FTSE China Bull 3X Shares (YINN)185,65438.192.145.94
Guggenheim Canadian Energy Income ETF (ENY)115,04711.440.645.91
iPath Goldman Sachs Crude Oil Total Return Index ETN (OIL)11,487,07211.930.665.86
E-TRACS UBS Bloomberg CMCI ETN (UCI)83,86616.530.915.83
 
Composite
ISSUEVOLUMEPRICECHG% CHG
PostRock Energy (PSTR)1,764,570$4.001.8081.83
Canadian Solar (CSIQ)14,215,91326.695.3725.19
ITT Educational Services (ESI)1,318,0448.751.7124.29
Rex Energy (REXX)8,203,3645.000.9523.46
Euro Tech Holdings (CLWT)3,1292.840.5322.94
Paragon Offshore (PGN)3,821,7762.600.4822.64
Seventy Seven Energy (SSE)2,702,9695.140.9121.51
Office Depot (ODP)55,373,3339.281.6421.47
SM Energy (SM)7,461,64749.618.7021.27
TeleNav (TNAV)510,9877.951.3821.00
Goodrich Petroleum (GDP)8,130,9372.970.5020.24
Genetic Technologies ADS (GENE)7,581,0313.090.5019.31
McDermott International (MDR)13,634,8742.770.4418.88
FMSA Holdings (FMSA)1,441,4876.180.9718.62
Direxion Daily Natural Gas Related Bull 3x Shares (GASL)6,958,3313.910.6118.48
Emerge Energy Services (EMES)1,061,22256.018.7318.46
California Resources (CRC)16,927,5676.130.9217.66
B Communications (BCOM)3,41416.502.4217.19
Direxion Daily Russia Bull 3x Shares (RUSL)2,929,06918.642.6916.87
MRC Global (MRC)4,361,90812.921.8416.61
Laredo Petroleum (LPI)10,246,00512.891.8316.55
BreitBurn Energy Partners (BBEP)11,997,0088.901.2115.73
Esperion Therapeutics (ESPR)1,742,04051.786.9915.61
VelocityShares 3x Long Crude ETN (UWTI)50,756,2903.930.5315.59
Oasis Petroleum (OAS)22,875,67617.642.3715.52
 
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Footnotes
Includes common, closed end funds, ETFs, ETNs and REITS with prior day close of $2 a share or higher, with volume of at least 2,000.
x - stock is trading ex-dividend
Source: WSJ Market Data Group