Telefonica expected to secure EU approval for EUR8.6B E-Plus bid, Guardian says The EU is expected to approve Telefonica's (TEF) proposed EUR8.6B bid for KPN's (KKPNY) E-Plus unit, the Telegraph reports, citing sources. To secure EU approval, Telefonica will reportedly let smaller rivals in Germany lease at least a fifth of the combined company's network capacity. Reference Link
On The Fly: Analyst Upgrade Summary Today's noteworthy upgrades include: Angie's List (ANGI) upgraded to Market Perform from Underperform at Raymond James... CGI Group (GIB) upgraded to Buy from Hold at Societe Generale... Devon Energy (DVN) upgraded to Buy from Neutral at Guggenheim... EP Energy (EPE) upgraded to Neutral from Sell at Citi... Franco-Nevada (FNV) upgraded to Buy from Hold at Canaccord... Galena (GALE) upgraded on commercial business divestment at Oppenheimer... KPN (KKPNY) upgraded to Buy from Hold at HSBC... Macy's (M) upgraded to Buy from Neutral at Northcoast... Magic Software (MGIC) upgraded to Overweight from Equal Weight at Barclays... Range Resources (RRC) upgraded on valuation, 2016 outlook at RBC Capital... Raytheon (RTN) upgraded to Buy from Hold at Argus... Trend Micro (TMICY) upgraded to Buy from Neutral at Nomura.