Peak Earnings Week | Morning News

APRIL 20, 2015

US futures getting a lift at this 7AM hour after overseas market trade mixed overnight and China announced yesterday that they would cut the reserve requirement ratio for all banks. With a quiet economic calendar this week, traders are focused on earnings as several heavyweights across all sectors report n the next 5 days. Oil pares gains after the Saudi Oil Minister announced that oil production would stay near peak for April.

NEWS:

HOUSING: Residential real estate market is showing signs of slowing, reports barrons
PLD: Prologis Inc to buy KTR Capital Partner for $5.9M
GRPN: raises Q1 EPS estimates: announces $300M share repurchase program
GRPN: announces intent to sell Ticket Monster stake for $360M
GENE: announces that it expects sales growth to accelerate through 2015 and beyond
TGT: Target launched Lily Pulitzer line and customers rush to buy both online and in brick and mortar stores
PCG: gas line explodes in Fresno, CA
ADM: ALV, DG, KR, LRCX, PCAR: Barrons out positive over the weekend
BAX:Investigational Stand-Alone Recombinant Treatment for Von Willebrand Disease Meets Primary Efficacy Endpoint in Phase 3 Trial of BAX 111, reports baxter
FB: WhatsApp surpasses 800M monthly active users
FB: Oppenheimer out positive on Facebook into earnings
MTG: RDN: GNW: ESNT: NMIH: ORI: FHFA weights in on PMIERs, removing uncertainty
APD: announces contract with Saudi Aramco t to build and operate the world’s largest industrial gas complex
JNJ: short term buy: Deutsche Bank
AAPL: Wells Fargo out positive on Apple into earnings
AAPL: Pacific Crest raises EPS estimate for Q2
MRO: top pick at Citi: has upgrade from MS this morning also
RTN: to acquire Wedsense for $1.9B

ON THE ECONOMIC CALENDAR:

8:30AM: Chicago Fed National Activity Index: expectation +.15: ACTUAL -.42
8:40AM: Fed’s Dudley holds Q&A on Monetary Policy: sees inflation rising, and US economy advancing

EARNINGS:

MS: Q1 EPS (Excl. DVA) of $1.14 beats by $0.36.Revenue (Excl. DVA) of $9.78B (+10.3% Y/Y) beats by $610M: conference call 8:30AM EST
HAL: Q1 EPS of $0.49 beats by $0.12.Revenue of $7.05B (-4.1% Y/Y) beats by $60M: cautions “unprecedented decline in drilling activity… which drove pricing pressure and margin compression across all product lines.”:conference call 9AM EST
HAS: Q1 EPS of $0.21 beats by $0.13.Revenue of $713.5M (+5.0% Y/Y) beats by $53.23M:entertainment and Licensing revenue increased 74% to $60.6M conference call 8:30AM EST
MTB:Q1 EPS of $1.68 misses by $0.08.Revenue of $1.1B (+1.9% Y/Y) misses by $20M: conference call 11AM EST
STI:Q1 EPS of $0.78 beats by $0.06.Revenue of $1.99B (-2.0% Y/Y) in-line: conference call 8AM EST
RCL:FQ1 EPS of $0.20 beats by $0.06.Revenue of $1.82B (-3.7% Y/Y) misses by $40M:guides down FY15 EPS cut to $4.45 – 4.65 from $4.65 -4.85

SOME NOTABLE EARNINGS AFTER THE CLOSE:BMI, BRO, BXS, CNI, ELS, FTNT, GLF, HLX, HSTM, HXL, IBM, IEX, LRCX, PKG, RCI, RLI, RMBS, SANM, STLD, UCTT, WAL, WWD, ZION

SOME NOTABLE EARNINGS BEFORE TOMORROW’S OPENING: ATI, ACI, ABG, BHI, EAT, CP, CLS, CS, DOV, DD, FITB, GCI, GPC, HOG, ITW, KSU, KMB, LPT, LMT, MAN, MLNX, MTG, EDU, PNR, PLD, RF, SAP, SAH, SNB, SNV, TCB, AMTD, TCK, TRV, TTS, UA, UTX, VZ, WIT

ANALYSTS’ RATINGS CHANGES:

UPGRADES: