Cempra Pharmaceuticals expects top-line data release for community acquired bacterial pneumonia by the end of Q1'15. With the very recent Tetraphase acquisition rumor buzz, Cempra is certain to join the acquisition buzz fray if its data release proves positive.

September E-mini S&Ps (ESU14 +0.05%) this morning are unchanged and European stocks are down % after a composite gauge of European manufacturing and services activity slowed to its slowest pace in 6 months.