7:57 am S&P futures vs fair value: +5.20. Nasdaq futures vs fair value: +4.60. : U.S. equity futures trade modestly higher amid upbeat action overseas. The S&P 500 futures hover five points above fair value after climbing off their lows at the start of the European session.

Meanwhile, the greenback has continued its recent strength with the Dollar Index (99.55, +0.40) working on its fifth advance in a row. Including today's gain, the index hovers within a couple points of its March high.

Today's economic data will be limited to weekly Initial Claims (Briefing.com consensus 285K), which will be released at 8:30 ET, while the Wholesale Inventories report for February will cross at 10:00 ET (expected 0.2%).

Treasuries hold slim gains with the 10-yr yield lower by a basis point at 1.95%.

In U.S. corporate news of note:

• Apple (AAPL 126.00, -0.56): -0.4% after Raymond James downgraded the stock to 'Market Perform' from 'Outperform.' 
• General Electric (GE 27.67, +1.94): +7.5% after announcing restructuring plans, including the sale of GE Capital real estate assets. In addition, the company has authorized a new buyback program of up to $50 billion 
• Medicines Company (MDCO 25.75, -2.07): -7.4% after issuing below-consensus guidance for the first quarter. 
• Netflix (NFLX 449.55, +10.05): +2.3% after Citigroup upgraded the stock to 'Buy' from 'Neutral.'

• Asian markets ended mostly higher. China's Shanghai Composite +1.9%, Hong Kong's Hang Seng -1.2%, and Japan's Nikkei -0.2% 
  • In economic data: 
    • China's March CPI -0.5% month-over-month (expected -0.6%; prior 1.2%); +1.4% year-over-year (consensus 1.3%; last 1.4%). Separately, PPI -4.6% year-over-year (expected -4.8%; prior -4.8%) 
    • Australia's February Home Loans +1.2% month-over-month (consensus 3.0%; previous -1.7%) 
  • In news: 
    • Shanghai is expected to raise its mortgage loan allowance to CNY1 million from CNY600,000. This increase will apply to Shanghai's housing fund program.

• Major European indices trade higher across the board. UK's FTSE +0.4%, France's CAC +0.5%, and Germany's DAX +1.6%. Elsewhere, Italy's MIB +0.4% and Spain's IBEX +0.1% 
  • Participants received several data points: 
    • UK's February Industrial Production +0.1% month-over-month (consensus 0.3%; prior -0.1%) while Manufacturing Production +0.4% month-over-month, as expected 
    • France's February Industrial Production was unchanged month-over-month (expected -0.1%; prior 0.3%) 
    • Spain's February Industrial Production +0.6% year-over-year (last 0.1%) 
    • Swiss March Unemployment Rate held at 3.2%, as expected 
  • Among news of note: 
    • The euro has extended yesterday's retreat, dropping below 1.0600 against the dollar, which represents a 0.7% decline for the single currency.

7:46 am Drew Industries announces that CFO Joseph Giordano will leave to company to pursue other opportunities effective August 31, 2015 (DW) : Co has retained the services of executive search firm Korn Ferry to lead the search for Giordano's successor

7:31 am HRG Group announced the price of its add-on $100 million, 7.875% senior secured notes offering due 2019 at 104.5% of par (HRG) : The offering is expected to close on or about April 14, 2015. The Company expects to use the net proceeds from the issuance of the New Notes for working capital by it and its subsidiaries and for general corporate purposes, including further investments in HRG's existing businesses and the financing of future acquisitions and businesses.

7:17 am Imation issues letter to shareholders, urging them to vote for the company's White proxy card at its upcoming annual meeting (IMN) : Letter highlights stated:

• "The Imation Board of Directors and management team are firmly committed to further improving the Company's operating and financial results and delivering short and long-term shareholder value. 
• It is critical not to allow the considerable progress your Company has achieved over the past three years to be destroyed by nearsighted individuals with self-serving interests who offer NO SPECIFIC PLAN for Imation's future or any way to create value for shareholders other than The Clinton Group and its affiliates. 
• Clinton has provided no discussion of what this acquisition "plan" would entail -- what would be the targets, pricing, size and financing. 
• We believe clinton is seeking to take control of your company for their own benefit clinton has submitted a slate of nominees that do not know imation and is attempting to gain control of your company without paying any control premium to pursue its own, undefined, self-interested goals
  
• We believe the experience and expertise of your current Directors will be drivers of Imation's future success. As such, the Board unanimously recommends that shareholders vote the WHITE proxy card to elect ALL THREE of our Director nominees."
  

7:16 am Pacira Pharma highlights new data regarding Exparel for postsurgical pain control following knee replacement surgery (PCRX) : Key findings associated with the use of EXPAREL included: shorter length of hospital stay with 50% of patients in the EXPAREL group vs. 19% in the control group were discharged =2 days after surgery, greater mobility after surgery, measured by mean distance walked and savings of $366 per patient on direct hospital costs

7:00 am RRSAT Global announces acquisition of Romanian company Eastern Space Systems (RRM) :  

7:00 am Horizon Pharma announces it has received FDA Fast Track Designation for ACTIMMUNE to treat Friedreich's Ataxia (HZNP) : Co announced plans to begin a Phase 3 study in the second quarter in collaboration with the Friedreich's Ataxia Research Alliance and a sub-set of FARA's Collaborative Clinical Research Network study centers in FA

6:59 am Asian Markets Close: Japan's Nikkei -0.2%; Hong Kong's Hang Seng +1.2%; China's Shanghai Composite +1.9% (:SUMRX) : Most markets in the Asia-Pacific region closed the week on a winning note. China's Shanghai Composite led the way with a 1.9% gain, which was fueled by renewed thoughts that further policy stimulus might be provided following some relatively soft CPI and PPI inflation data for March. Hong Kong's Hang Seng capped off a huge week with a 1.2% gain.

Economic data

• Japan
• March Bank Lending +2.6% year-over-year (prior +2.5%)
• China
• March CPI -0.5% month-over-month (expected -0.6%; prior +1.2%); +1.4% year-over-year (expected +1.3%; prior +1.4%) o March PPI -4.6% year-over-year (expected -4.8%; prior -4.8%)
• Australia
• February Home Loans +1.2% month-over-month (expected +3.0%; prior -1.7%)

• Japan's Nikkei flirted with a close above 20,000, but declined 0.2% to miss the mark. Relative weakness in the consumer non-cyclical (-0.9%), basic materials (-0.7%), financial (-0.5%), and industrial (-0.4%) sectors weighed. Top gainers included Aeon Co (+5.5%), Pioneer Corp (+5.4%) and Alps Electric Co (+4.5%). Eisai Co (-5.0%) led the decliners along with Mitsumi Electric Co (-3.8%) and Tokyo Electric Power (-3.1%). Out of the 225 index members, 53 ended higher, 165 finished lower, and 7 were unchanged. For the week the Nikkei gained 2.4%.
• Hong Kong's Hang Seng kept on running, adding another 1.2% on continued buying activity from mainland investors. For the week, the Hang Seng surged 7.9%. Friday's gains were led by the influential financial sector (+2.2%). Individual standouts included Ping An Insurance (+6.1%), Belle International Holdings (+4.6%), and Hong Kong Exchanges and Clearing (+3.9%). Out of the 50 index members, 38 ended higher, 9 finished lower, and 3 were unchanged.
• China's Shanghai Composite broke its one-day losing streak with a 1.9% gain following CPI and PPI reports for March that seemingly supported the case for more policy stimulus. Gains were broad-based with the consumer non-cyclical (+3.1%) and industrial (+2.2%) sectors leading the Chinese market. For the week the Shanghai Composite gained 4.4%.
• India's Sensex ended Friday's session flat. Gains in the consumer non-cyclical (+0.8%) and energy (+0.7%) sectors were offset by losses in the financial (-0.8%) and industrial (-0.2%) sectors. Sesa Sterlite (+4.0%) and State Bank of India (+1.7%) led the winners while Cipla Ltd (-2.5%) and Hindalco Industries (-1.4%) paced the losers. For the week the Sensex was up 2.2%.
• Australia's S&P/ASX 200 jumped 0.6% and ended near its best levels of the session. The energy (+1.7%), consumer staples (+1.6%), and information technology (+1.0%) sectors led the gains. For the week the S&P/ASX 200 gained 1.1%.
• Regional advancers: Taiwan +0.5%, South Korea +1.4%, Singapore +0.4%, Thailand +0.2%, Philippines +0.9%, Vietnam +0.6%
• Regional decliners: Malaysia -0.3%, Indonesia -0.2%

• USD/CNY +0.1% at 6.2091
• USD/INR -0.01% at 62.306
• USD/JPY -0.3% at 120.28
  

6:55 am Gas Natural announces it has secured a $5 mln bridge loan, during process to refinance long term debt obligations (EGAS) : The unsecured $5 million loan has a 180-day term with interest at 7.5% per annum. Proceeds were used to repay $2.2 million of intercompany loans between the Company and its subsidiary, Energy West Incorporated, and will also be used for general working capital needs.

6:43 am General Electric follow up: GE to sell GE Capital Real Estate assets to Blackstone, (BX, BXMT) and Wells Fargo (WFC) for ~$26.5 bln; reaffirms Industrial earnings guidance; announces new $50 bln buyback (GE) : Co will create a simpler, more valuable company by reducing the size of its financial businesses through the sale of most GE Capital assets and by focusing on continued investment and growth in its world-class industrial businesses.

• GE and its Board of Directors have determined that market conditions are favorable to pursue disposition of most GE Capital assets over the next 24 months except the financing "verticals" that relate to GE's industrial businesses.
• The GE Capital businesses that will remain with GE will account for about $90 billion in ending net investments (ENI) excluding liquidity -- about $40 billion in the U.S. -- with expected returns in excess of their cost of capital. 
• As part of the execution of this new plan, GE announced today an agreement to sell the bulk of the assets of GE Capital Real Estate to funds managed by Blackstone (BX). Wells Fargo (WFC) will acquire a portion of the performing loans at closing. The Company also has letters of intent with other buyers for an additional $4 billion of commercial real estate assets. In total, these transactions are valued at ~$26.5 billion. 
• GE to take ~$16 billion after-tax charge in 1Q'15, $12 billion non-cash 
• GE expects that by 2018 more than 90% of its earnings will be generated by its high-return industrial businesses, up from 58% in 2014. 
• In 2015, GE's industrial businesses remain on track for operating earnings per share of $1.10-$1.20, up solid double digits, in line with expectations. 
• Will work with regulators to terminate GE Capital's SIFI designation 
• GE expects to get ~$35 billion in dividends from GE Capital from this plan 
• Board authorizes new buyback program of up to $50 billion

6:32 am General Electric Industrial businesses remain on track for operating earnings per share of $1.10-$1.20 in 2015, in line with expectations; Board authorizes new buyback program of up to $50 billion (GE) :  

6:32 am General Electric announces restructuring; Announces sale of GE Capital Real Estate assets for ~$26.5 billion; High-value industrials to comprise more than 90% of GE earnings by 2018; Plans to retain financing "verticals" that relate to GE's industrial businesses (GE) :  

6:31 am Wells Fargo and Blackstone (BX) to buy GE (GE) Capital's real estate assets for $23 bln (WFC) :

• Wells Fargo has agreed to purchase performing first mortgage commercial real estate loans valued at $9.0 billion in the United States, UK and Canada. 
• Blackstone's global real estate fund, BREP VIII, has agreed to purchase the US equity assets for $3.3 billion. These assets are primarily office properties in Southern California, Seattle and Chicago. 
• Blackstone's European real estate fund, BREP Europe IV, has agreed to purchase the European equity real estate assets, for 1.9 billion. These consist of office, logistics and retail assets, largely in the UK, France and Spain. 
•  BREDS, Blackstone's real estate debt fund, has agreed to purchase performing first mortgage loans in Mexico and Australia for $4.2 billion. 
• BXMT, Blackstone's publicly traded commercial mortgage REIT, has agreed to purchase a $4.6 billion portfolio of first mortgage loans primarily in the US with Wells Fargo providing the financing. 
• The initial closings will take place in the second and third quarter of the year.
  

6:30 am Blackstone Mortgage Trust announces acquisition of $4.6 billion loan portfolio from GE Capital (GE) (BXMT) : The acquisition is a part of the larger $23 billion acquisition of the majority of GE Capital's real estate business by investment vehicles managed by Blackstone and Wells Fargo. The portfolio to be acquired by BXMT consists of 82 first mortgage loans secured by a diverse set of commercial property types across its core and target markets, including the United States (68%), Canada (15%), the United Kingdom (10%), and Germany (7%).

• WBXMT expects the acquisition to result in a stabilized $0.24 - $0.28 accretion to annual Core EPS, benefiting from an attractive average portfolio credit spread of 4.21% combined with an efficient financing structure. The weighted average final maturity of the acquired portfolio is approximately three years. 
• BXMT will pay $4.4 billion for the funded loan portfolio and assume $0.2 billion of unfunded commitments. Wells Fargo has agreed, subject to customary terms and conditions, to provide a $4.0 billion acquisition financing package of which $3.8 billion will be funded at closing. 
• In addition to the Wells Fargo facility, BXMT intends to use available liquidity and/or raise additional capital to fund the acquisition
  

6:01 am RF Industries announces resignation of its COO and founder Howard Hill (RFIL) : Co announced that its Chief Operating Officer and Founder, Howard Hill, will take an indefinite medical leave of absence. In connection with his medical leave of absence, Hill resigned as the Company's Chief Operating Officer. Hill will remain a member of the Company's Board of Directors.

6:01 am Cesca Therapeutics announces an update on its clinical trials of critical limb ischemia and acute myocardial infarction (KOOL) :

• Critical Limb Ischemia: The Company determined that in order to meet the FDA's request for additional data it would process and evaluate a number of fresh donor bone marrow samples through each individual step of the SurgWerks-CLI kit and VXP cell automation system. The primary endpoint will be major amputation free survival at 12 months following enrollment and the study will be conducted across approximately 60 sites 
• Acute Myocardial Infarction: The Acute Myocardial Rapid Stem Cell Therapy study is anticipated to be a randomized active control multi-center phase two feasibility study including approximately 40 patients with a 1:1 randomization. The primary endpoint for safety will be major adverse cardiovascular events and the secondary endpoint for efficacy will be left ventricular ejection fraction changes.
  

6:00 am Malibu Boats announces the preliminary results of its dutch auction tender offer; ~8.3 mln tendered sold at $21/share (MBUU) :  

5:49 am S&P futures vs fair value: +1.80. Nasdaq futures vs fair value: +2.30. :

5:49 am European Markets : FTSE...7034.44...+19.10...+0.30%.  DAX...12291.98...+124.50...+1.00%.

5:49 am Asian Markets : Nikkei...19907.63...-30.10...-0.20%.  Hang Seng...27272.39...+328.00...+1.20%.

4:25 am Sesa Sterlite reports Q4 production results (SSLT) : Co reports Average gross production for FY2015 was 211,670 barrels of oil equivalent per day, 3% lower than the previous year. This was largely on account of planned maintenance activity at Mangala Processing Terminal at Rajasthan, higher than expected water cut at Bhagyam in Rajasthan and suspension of gas sales at Ravva for around three months. 

• Both offshore assets have performed exceptionally during the year. The Ravva block achieved over 30,000 bopd in Q4 FY2015 after three and a half years, driven by successful application of 4D seismic technology, better than expected results from the infill drilling program and the contribution from the RE-6 exploration well. Production at Cambay grew 8% year on year and 3% quarter on quarter, driven by successful well interventions and well ramp-up.
• In Q4 FY2015, average gross operated production and working interest production were 4% and 7% lower year on year at 215,553 boepd and 132,929 boepd, respectively. At Rajasthan, fourth quarter production was lower at 174,206 boepd due to higher than expected water cut at Bhagyam field. 

4:02 am On The Wires (:WIRES) :

• Coach (COH) and InterparfumsSA announced that they have entered into an 11-year exclusive worldwide fragrance license agreement. 
• Calamos Investments (CLMS) announced the expansion of its London office capabilities, adding trading, research and portfolio management functions along with enhanced business development and relationship management.

2:49 am Alexion Pharma receives approval for important updates to the European Label for Soliris (ALXN) : Co announced that the European Commission has approved updates to the EU label for the therapeutic indication of Soliris in the treatment of paroxysmal nocturnal haemoglobinuria to now include patients without a history of transfusion. With this approval, the revised Summary of Product Characteristics now indicates that evidence of clinical benefit is demonstrated in patients with high disease activity as defined by elevated haemolysis and the presence of related clinical symptom(s), such as fatigue, haemoglobinuria, abdominal pain, shortness of breath, anaemia, major adverse vascular event (including thrombosis), dysphagia or erectile dysfunction.1 This update further reinforces that transfusions do not impact the underlying disease process in PNH and that haemolysis plays the central role in disease activity.

2:27 am Ducommun beats on top and bottom lines (DCO) : Reports Q4 net income of $0.46 per share vs $0.30 Capital IQ consensus; revs were $187.6 mln vs $185.0 mln consensus. 

• The Company's DAS segment reported net revenue for the current quarter of $78.3 million, compared to $80.8 million for the fourth quarter of 2013. The lower revenue was primarily due to a 27% decrease in military and space revenue that was partially offset by a 18% increase in commercial aerospace revenues.
  
• The Company's DLT segment reported net revenue for the fourth quarter of $109.3 million, compared to $107.2 million for the fourth quarter of 2013. The higher revenue reflected a 61% increase in commercial aerospace revenue, partially offset by lower military and space revenue.
  

2:15 am Vanda Pharma announces listing of a new Fanapt patent in the FDA Orange Book (VNDA) : Co announced that a Fanapt patent, number 8,999,638, is now listed in the U.S. Food and Drug Administration publication Approved Drug Products With Therapeutic Equivalence Evaluations, commonly known as the Orange Book. The '638 patent was issued by the United States Patent and Trademark Office on April 7, 2015 and expires in October 2030. Prior to this newly listed '638 patent, the Fanapt Orange Book listed patents were the U.S. composition of matter patent and the '610 patent, expected to expire in November 2016 and November 2027, respectively.

1:13 am Paramount Gold and Silver receives listing approval for SpinCo on the NYSE MKT (PZG) : Co announced that its wholly-owned subsidiary Paramount Gold Nevada Corp has received approval from NYSE Regulation, Inc. for listing of Paramount Gold Nevada on the NYSE MKT, subject to SpinCo being in compliance with all listing standards on the date it begins trading on the Exchange.

• Paramount intends to spin-off of Paramount Gold Nevada as a separate, publicly traded company in connection with the previously announced merger of Paramount and Coeur Mining (CDE). Paramount stockholders of record at the close of business on April 14, 2015 will be entitled to receive one share of common stock of SpinCo for every 20 shares of Paramount common stock held by such stockholder, payable or issuable upon the closing of the merger, provided that they continue to hold their Paramount shares at the time of closing of the merger. Cash will be paid in lieu of issuing fractional shares of stock. 
  

1:10 am uniQure prices 3,000,000 ordinary shares at $29.50 per ordinary share (QURE) :  

1:09 am Enterprise Products offering additional capacity on Aegis Ethane Pipeline System (EPD) : Co announced the start of a supplemental binding open commitment period to determine shipper demand for incremental capacity being added on the Aegis pipeline between Mont Belvieu, Texas and the Napoleonville, Louisiana area along the Mississippi River corridor. The initial 60-mile segment from Mont Belvieu to Beaumont, Texas began service in September of 2014. The remainder of the Aegis pipeline will be completed in two phases, which are scheduled for completion by the end of 2015. The incremental capacity associated with this open season will be achieved through the installation of additional pumps. The additional capacity is being offered in response to continued interest from potential shippers and is expected to be available in the first quarter of 2018.