Hilsenrath: Fed Ushering in New Era of Uncertainty on Rates (WSJ) Is Supreme Court's chief justice ready to take down ObamaCare? (The Hill) Netanyahu arrives in U.S., signs of easing of tensions over Iran speech (Reuters) Nemtsov Murder Fuels Suspicion, Fails to Spur Russia Selloff (BBG) ECB uncomfortable with leading role in Greek funding drama (Reuters) Video shows Los Angeles police shooting homeless man dead (Reuters) Iraq Military Begins Campaign to Reclaim Tikrit (WSJ) How Billionaires in London Use Secret Luxury Homes to Hide Assets (BBG) European Banks’ Reciprocity Draws Scrutiny (WSJ) Berkshire insurance 'superstar' could fill Buffett's shoes (Reuters) RadioShack Gifts That Don't Keep On Giving (BBG) HSBC Whistleblower Says He Can Prove HSBC Knew of Tax Abuses (BBG) 1 semiconductor + 1 semiconductor = 1 conductor? NXP to buy Freescale, create $40 billion company (Reuters) Apple’s Looming Watch Spurs Frenzy of Upgrades for Android Timepieces (BBG) Overnight Media Digest WSJ * Thousands of Russians marched in Moscow in memory of opposition leader Boris Nemtsov, whose slaying has sent shock waves through society as the highest-profile assassination in Russia during the Putin era. (http://on.wsj.com/1N7hdA6) * A showdown this week between the White House and Israel's Netanyahu has far-reaching implications for ties between the two countries and the shape of power and influence in the Middle East. (http://on.wsj.com/1BvVE7H) * Telecom firms trying to connect billions more people to the Web are not sure if Facebook Inc is their friend or foe. Tensions between the phone and Internet industries will be on display at the Mobile World Congress in Barcelona. (http://on.wsj.com/1vQTb6W) * Ajit Jain, who runs Berkshire Hathaway Inc's reinsurance business, and Greg Abel, who runs the conglomerate's energy business, have emerged as favorites to succeed Warren Buffett as CEO. (http://on.wsj.com/1EEnLm5) * NXP Semiconductors and Freescale Semiconductor have agreed to merge in a deal that values Freescale at $11.8 billion and would create a combined company with a market value of more than $30 billion. (http://on.wsj.com/1N7hrqW) * A surprise rate cut by China's central bank underscores the increasingly aggressive measures the leadership is relying on to rev up activity in the world's second-largest economy. (http://on.wsj.com/1vQS7A0) * Rebekah Brooks, the former News Corp executive who resigned in 2011 amid the phone-hacking scandal at the now-defunct UK tabloid the News of the World, is close to finalizing a deal to return to the company, people familiar with the matter said. (http://on.wsj.com/1E8kvAw) FT Luxury sports car brand Aston Martin is set to revamp its image of an iconic British carmaker and focus on women and youth in its forthcoming models and designs. Andy Palmer, Aston Martin's CEO, who joined the Warwickshire-based carmaker in October, will tell the Geneva motor show that they plan to add two new product lines. NXP Semiconductors, makers of chips that are used in credit and debit cards, has bought its rival Freescale in a deal that would create a company with a total value of $40 billion. Russian billionaire Mikhail Fridman has threatened to go to court if the British government tries to block a 5 mln euro deal that will give Fridman ownership of RWE Dea, the oil and gas arm of Germany's RWE. French telecom operator Orange is eyeing a partnership with its Italian rival Telecom Italia to create further consolidation in the European telecom market. Orange CEO Stephane Richard said in an interview to French weekly Journal du Dimanche that a tie-up "would be an attractive European consolidation opportunity." NYT * Controlling China's sprawling food supply chain has proved a frustrating endeavor. Now, with a quick scan of a code with a smartphone, shoppers can look up a fruit's complete journey from the field to a bin in a Beijing supermarket. The smartphone feature, which also details soil and water tests from the farm, is intended to ensure that a fruit has not been contaminated anywhere along the way. (http://nyti.ms/1K6hV1s) * Wells Fargo & Co, one of the largest subprime car lenders, is pulling back from that roaring market, a move that is being felt throughout the broader auto industry. Wells Fargo has imposed a cap for the first time on the amount of loans it will extend to subprime borrowers. (http://nyti.ms/1K6ipVh) * On the 35th floor of a two-bedroom rental overlooking the East River, Dennis Kozlowski lives with his new wife, Kimberly, in relative modesty - at least compared with his previous life as the extravagant chief of Tyco International Plc. (http://nyti.ms/1K6iEjn) * Rebekah Brooks, the former head of Rupert Murdoch's media holdings in Britain, acquitted last year on charges related to the phone hacking scandal, is likely to return to News Corp to focus on new avenues for digital and social media, people familiar with the company's plans said. (http://nyti.ms/1K6jf4s) * NXP Semiconductors NV said on Sunday it would buy a smaller peer, Freescale Semiconductor Ltd, in an $11.8 billion deal that would create a big maker of chips for industries as varied as automobiles and mobile payments. (http://nyti.ms/1K6jGvC) * AT&T Inc, the second-largest wireless carrier in the United States, says it is has found life beyond being a phone carrier. The company said that this year it is poised to become a more diversified company, with money coming in from connected cars and the "Internet of Things." AT&T also says that business solutions, or services it offers to businesses, will be its largest source of income. (http://nyti.ms/1K6k4KE) Hong Kong SOUTH CHINA MORNING POST -- At least 16 People's Liberation Army major generals have been taken away for investigation in relation to graft cases involving their former superiors, according to sources close to the military. Two independent sources close to the PLA said most of the officers were either secretaries or relatives of former military commanders or senior officers. (bit.ly/1vPY540) -- A 61-year-old man has become the first person in Hong Kong to die of H7N9 bird flu this season, after contracting the virus during a visit to the mainland. It came as three more adults died from H3N2 influenza on Sunday, taking the total deaths from flu this year to 307, higher than that from the Sars outbreak in 2003, which claimed 299 lives in Hong Kong. (bit.ly/1AWzMR5) -- The boost to Hong Kong Exchanges and Clearing's turnover from the Shanghai stock connect scheme in recent months has brokers expecting good profit growth figures when the local bourse announces its results on Thursday. Credit Suisse expects HKEx to report HK$5.08 billion ($655.15 million) net profit for last year, up 12 percent from 2013. (bit.ly/18Cwx8g) THE STANDARD -- More than 60 percent of Hongkongers feel the Legislative Council should pass the government's political reform package while 30 percent disagree, according to the pro-establishment Democratic Alliance for the Betterment and Progress of Hong Kong. It said the survey was conducted on its behalf by the Hong Kong Public Opinion Research Centre. (bit.ly/1M2xmoS) -- Hong Kong Financial Secretary John Tsang Chun-wah set up his Facebook account last month to better communicate his eighth budget to Hongkongers. Writing in his blog, Tsang said it is the first time he is using Facebook to communicate with the public and some have even mocked him for being "out" late on social media. (bit.ly/1Dsifi8) -- Several online lottery sales platforms in the mainland have been closed, reflecting Beijing's determination to clean up the industry. Alibaba said it has suspended sales of lotteries on Taobao Lottery platform in response to an order from the Ministry of Civil Affairs, while Tencent confirmed that all lottery business on its QQ and PC platform has been suspended. (bit.ly/1E7SDwu) MING PAO DAILY -- The number of public phone booths in Hong Kong fell to 1,630 from 1,920 in the year 2000, amid advances in mobile telecommunications technology and the popularity of smartphones, according to data from the city's Office of the Communications Authority. Britain The Times Abu Dhabi's sovereign wealth fund Abu Dhabi Investment Authority tabled a 1.6 bln pound takeover bid for Maybourne Hotel Group, owner of Claridge's, the Berkeley and the Connaught in London. (http://thetim.es/1Bv3b6G) Stephen Schwarzman, the boss of the world's largest buyout firms, Blackstone, took home $690 mln last year in one of the biggest paydays in Wall Street history. (http://thetim.es/1Bv3lev) The Guardian More than 300 young people have been groomed and sexually exploited by gangs of men in Oxfordshire in the past 15 years, a damning report into the failures of police and social services to stop years of sexual torture, trafficking and rape will reveal, the Guardian has learned. (http://bit.ly/1Bv3JJK) A coalition row about limiting free speech on university campuses to ban hate preachers has broken out with the Tories saying their default position is now that any extremist speaker should be banned, given the potential damage they can do. (http://bit.ly/1Bv3Q8a) The Telegraph The Liberal Democrats plan to hit the UK banking industry with an additional 1 bln pound tax bill, which the party says will help eliminate the country's deficit. The supplementary charge will be in addition to the existing bank levy, which is on track to raise 8 bln pounds in this parliamentary session, said Danny Alexander, the Liberal Democrat chief secretary to the Treasury. (http://bit.ly/1BuJuMv) German finance minister Wolfgang Schaeuble has softened his hard-line attitude towards Greece, saying its new left-wing Syriza government needs "a bit of time" but appears to be able to work towards resolving its debt crisis. (http://bit.ly/1Bv453b) Sky News Energy price comparison websites have been "duping" customers into switching to deals that are not the cheapest on the market and should pay them compensation, a group of MPs have said. Energy and Climate Change Committee said some sites had used misleading language to dupe consumers into options that only displayed commission-earning deals. (http://bit.ly/1Bv4eUm) The Rail, Maritime and Transport union is organising gatherings in London, Doncaster and Edinburgh to protest against the East Coast Main Line being handed over to Virgin and Stagecoach. (http://bit.ly/1Bv4nqF) The Independent The BBC will back a radical overhaul of the licence fee, paving the way for the end of the current system of funding the state broadcaster, the Corporation's head, Tony Hall, is expected to say today. (http://ind.pn/1Bv5S8r) Lloyds is to pay its first dividend since the financial crisis but faces a growing controversy over the huge rewards handed to its executives as a result, including £11.5m to boss Antonio Horta-Osorio. (http://ind.pn/1Bv65sn) Fly On The Wall Pre-Market Buzz ECONOMIC REPORTS Domestic economic reports scheduled for today include:Personal income for January at 8:30--consensus up 0.4%Personal spending for January at 8:30--consensus down 0.1%Markit manufacturing PMI for February at 9:45--consensus 54.3ISM manufacturing index for February at 10:00--consensus 53.0Construction spending for January at 10:00--consensus up 0.3% ANALYST RESEARCH Upgrades Alaska Air (ALK) upgraded to Buy from Hold at StifelDigital Realty (DLR) upgraded to Buy from Hold at StifelJack Henry (JKHY) upgraded to Outperform from Perform at OppenheimerOM Asset Management (OMAM) upgraded to Buy from Neutral at CitigroupTelefonica (TEF) upgraded to Outperform from Sector Perform at RBC CapitalUnited Rentals (URI) upgraded to Overweight from Equal Weight at Morgan Stanley Downgrades Ashford Hospitality (AHT) downgraded to Neutral from Outperform at Credit SuisseBank of Ireland (IRE) downgraded to Hold from Buy at Deutsche BankBlackRock (BLK) downgraded to Neutral from Buy at CitigroupCONE Midstream (CNNX) downgraded to Equal Weight from Overweight at BarclaysCloud Peak (CLD) downgraded to Hold from Buy at Brean CapitalCracker Barrel (CBRL) downgraded to Hold from Buy at Miller TabakCrane (CR) downgraded to Underperform from Neutral at BofA/MerrillDDR Corp. (DDR) downgraded to Neutral from Buy at GoldmanIBM (IBM) downgraded to Underweight from Neutral at Atlantic EquitiesInterXion (INXN) downgraded to Hold from Buy at StifelIsis Pharmaceuticals (ISIS) downgraded to Hold from Buy at Brean CapitalLumber Liquidators (LL) downgraded to Equal Weight from Overweight at Morgan StanleyMarkWest Energy (MWE) downgraded to Hold from Buy at WunderlichMichaels (MIK) downgraded to Neutral from Buy at GoldmanNavient (NAVI) downgraded to Equal Weight from Overweight at BarclaysNavient (NAVI) downgraded to Neutral from Buy at Compass PointNorthern Oil and Gas (NOG) downgraded to Neutral from Buy at SunTrustOasis Petroleum (OAS) downgraded to Neutral from Buy at GuggenheimPTC Therapeutics (PTCT) downgraded to Neutral from Overweight at JPMorganSBA Communications (SBAC) downgraded to Outperform from Top Pick at RBC CapitalSafe Bulkers (SB) downgraded to Neutral from Buy at CitigroupSpirit Airlines (SAVE) downgraded to Hold from Buy at StifelSucampo (SCMP) downgraded to Underperform from Neutral at Credit SuisseSynageva (GEVA) downgraded to Neutral from Overweight at JPMorganTCP International (TCPI) downgraded to Neutral from Overweight at Piper JaffrayWalter Investment (WAC) downgraded to Underperform from Market Perform at FBR CapitalWayfair (W) downgraded to Neutral from Buy at Citigroup Initiations Chemtura (CHMT) initiated with an Outperform at RW BairdEuronav NV (EURN) initiated with an Overweight at JPMorganLabCorp (LH) initiated with an Overweight at BarclaysQuest Diagnostics (DGX) initiated with an Equal Weight at BarclaysTerraForm (TERP) initiated with a Buy at UBS COMPANY NEWS NXP Semiconductors (NXPI), Freescale (FSL) announced $40B merger agreementBuffett said sold entire Exxon Mobil (XOM) stake in Q4, said that his likely cost for IBM (IBM) shares is around $170Mitel (MITL) agrees to acquire Mavenir Systems for $560MSamsung (SSNLF) announced the Galaxy S6 and Galaxy S6 edge phones and Samsung Pay mobile payment systemU.S. DOE to end contracts with Navient's (NAVI) Pioneer Credit, other agencies. Navient said losses Department of Education contract worth $65M in 2014BlackBerry (BBRY) unveils software and services vision, expands cross platform strategy across all smartphone and tablets running iOS (AAPL), Android (GOOG), and Windows (MSFT) operating systems EARNINGS Companies that beat consensus earnings expectations last night and today include:Intercept (ICPT), Dresser-Rand (DRC), Cleco (CNL) Companies that missed consensus earnings expectations include:Emerge Energy (EMES), Pattern Energy (PEGI), Gran Tierra (GTE), OPKO Health (OPK), Cleco (CNL) LSB Industries (LXU) reports Q4 adjusted EPS 9c vs. (42c) a year agoPattern Energy (PEGI) reports Q4 EPS (36c) vs. (17c) a year agoBerkshire Hathaway (BRK.A) reports Q4 operating EPS $2,412 vs. $2,297 in Q413Cleco (CNL) sees FY15 EPS $2.28-$2.38, consensus $2.51Vermilion Energy (VET) reports Q4 EPS 55c vs. 50c a year ago NEWSPAPERS/WEBSITES Citi (C) CEO, CFO may be pressured to leave if bank fails stress test, FT reportsAlibaba (BABA) to invest $316M in Taiwan entrepreneurs, WSJ reportsLumber Liquidators (LL) linked to health and safety violations, CBS' 60 Minutes saysSamsung (SSNLF) expects Galaxy S6 to become company's best-selling model, DigiTimes reportsWells Fargo (WFC) to place limit on subprime auto loans, NY Times reportsEMC (EMC) decides against spinning off stake in VMware (VMW), Reuters reportsGoogle (GOOG) shares could rise 5%-10% with a dividend, Barron's saysAmerican Express (AXP) shares could rally 15%, Barron's saysCampbell Soup (CPB) could drop 5%-10%, Barron's says SYNDICATE Alliance Resource Partners (ARLP) files automatic mixed securities shelfAqua America (WTR) files automatic mixed securities shelfBank of America (BAC) files mixed securities shelfCleveland BioLabs (CBLI) files to sell 2.07M shares of common stock for holdersContinental Building (CBPX) files to sell $22.5M in common stock for holderEmpire State files to sell 15.74M shares of Class A common stock for holdersEssent Group (ESNT) files automatic mixed securities shelfEssent Group (ESNT) files to sell 41.01M shares of common stock for holdersHealthcare Trust (HTA) files automatic mixed securities shelfHealthcare Trust (HTA) files to sell 2.5M shares of Class A common for holdersHess Corp. (HES) files automatic mixed securities shelfIgnyta (RXDX) files $150M mixed securities shelfKimco Realty (KIM) announces $500M 'at the market' equity offering programKimco Realty (KIM) files automatic mixed securities shelfLifePoint (LPNT) files automatic mixed securities shelfModusLink (MLNK) files $100M mixed securities shelfNationstar (NSM) files automatic mixed securities shelfOrganovo (ONVO) files $190M mixed securities shelf