peHUB First Read

* Mark MacLeod: Earn-outs (almost) never work * Dan Caplinger: Don't rush to buy Europe's "bargains" * Om Malik: Why a sudden surge of tech M&A? Because startups pay attention. * Morning Call: U.S. futures point lower, London falls early, European shares retreat, the Nikkei hits 11-week closing low and Shanghai shares slip. * FDIC "balancing act" offers new approach to bank deals * Glucose biofuel cell could revolutionize medical technology * BC Partners wins an investment period extension. The bigger question is whether it will "win" a new fund... * John Lilly, the former Mozilla boss who just moved over to Greylock Partners, believes that Firefox is on the decline.