MORNING COFFEE

Healthcare Bill Passes.  The Senate voted 60-40 along party lines to advance healthcare legislation in a procedural vote at 1:30AM Monday morning.  The Senate bill, is likely to form the core of any final bill, and leaves existing employer-based health-insurance benefits largely intact. Last-minute additions toughened restrictions on insurers, including barring them from denying coverage to children with pre-existing conditions. Insurers say the bill will increase costs, but note modest improvements.

Yelp says no to Google.  Yelp reportedly said no to an all-but-signed deal to be acquired by Google (GOOG) for about $550M plus earnouts over the weekend. 

Saab still has life.  GM said it received inquiries from "several parties" after announcing that it would be closing down Saab after negotiations with Spyker fell through of Friday. One of the inquiries was again from Spyker, which submitted a revised bid.

Sanofi-Aventis Buys Chattem.  Sanofi-Aventis (SNY) will acquire consumer healthcare firm Chattem (CHTT) for $1.9B, or $93.50/share in cash - a 34% premium to Friday's close. The transaction creates the world's No. 5 consumer healthcare company by revenues.  Chattem has over two dozen products, including Aspercreme, Icy Hot joint, Pamprin , Gold Bond and Unisom.

Earnings

ConAgra (CAG) Est. 0.47

Jabil Circuit (JBL) Est. 0.29     

Walgreen (WAG) Est. 0.48

·        Futures: Dow +0.3% to 10301. S&P +0.4% to 1102. Nasdaq +0.4%.

     Crude +0.7% to $74.95. Gold +0.3% to $1,114.70.   

     30-year Tsy -0.48% to 117-22. 10-year -0.21%. 5-year -0.11%.

     Euro flat vs. dollar. Yen flat. Pound -0.1%.

·         Asia: Nikkei +0.4% to 10183. Hang Seng -1.1% to 20948. Shanghai+0.3% to 3123. BSE -0.7% to 16601.

·         Europe at midday: FTSE +1% to 5249. CAC +0.7% to 3823. DAX +0.7%to 5870.