Simultaneous X-ray and optical observations of S5 0716+714 after the   outburst of March 2004
  At the end of March 2004, the blazar S5 0716+714 underwent an optical outburst that prompted for quasi-simultaneous target-of-opportunity observations with the INTEGRAL and XMM-Newton satellites. In this paper, we report the results of the XMM-Newton and INTEGRAL OMC data analysis. The X-ray spectrum is well-represented by a concave broken power-law model, with the break at about 2 keV. In the framework of the synchrotron self-Compton model, the softer part of the spectrum, which is described by a power law of index $\alpha \simeq 1.8$ ($f_\nu \propto \nu^{-\alpha}$), is probably due to synchrotron emission, while the harder part of the spectrum, which has $\alpha \simeq 1$, is due to inverse Compton emission. The blazar shows the long and short-term variability typical of low-frequency peaked BL Lac (LBL): the former is manifested by a gradual decrease in the optical flux from the peak as observed by ground telescopes at the end of March 2004, while the latter is characterized by soft X-ray and optical flares on time scales from a few thousand seconds to few hours. We can follow spectral variations on sub-hour time scales and study their correlation with the flux variability. We find evidence that the peak energy of the time-resolved spectra is increasing with flux. The modeling of the spectral energy distribution compared with archival observations suggests that the long-term variability (from outburst to quiescence or viceversa) could be due to a change in the injected power, while the short-term variability (flares) could be explained with changes in the slope of the distribution of the electrons. 
L. Foschini, G. Tagliaferri, E. Pian, G. Ghisellini, A. Treves, L.   Maraschi, F. Tavecchio, G. Di Cocco, S.R. Rosen