AAPL earnings day | Morning News

stock market newsJULY 21, 2015

US futures mixed, skirting along the flatline at this 7AM hour following mixed markets in both Europe and Asia. Oil struggling at the $50 mark as the strength of the US dollar and the worldwide oversupply weighs on the commodity.

NEWS:

  • QCOM:Qualcomm to Conduct Strategic Review, May Consider Breakup, reports the wsj
  • EA: EA SPORTS Partners With Real Madrid C.F. as Official Videogame Partner, reports market watch
  • SHAK: files 4M share secondary offering
  • EXAS: files 7M share public offering
  • CNX: Southeastern Asset Management files disclosure of 21.1% stake in Consol Energy
  • TUBE: TubeMogul May Be The Way To Play GoPro’s Video Licensing Portal, reports benzinga
  • BA: Boeing, EVA Air finalize 777 Freighter order, reports prnewswire
  • UNFI: announces termination of a contract with Albertsons Companies

ON THE ECONOMIC CALENDAR:

  • 8:55AM: Redbook Chain Store Sales

EARNINGS:

  • INFY: FQ1 EPS of $0.21 in-line.Revenue of $2.16B beats by $40M:quarterly annualized attrition rate reported sharp fall at 14.2% vs. 23.4% in 1Q15
  • HOG:Q2 EPS of $1.44 beats by $0.05.Revenue of $1.65B (-9.8% Y/Y) misses by $20M
  • OMC: Q2 EPS of $1.26 beats by $0.04.Revenue of $3.81B (-1.6% Y/Y) beats by $50M
  • DOV:Q2 EPS of $0.97 misses by $0.02.Revenue of $1.76B (-10.2% Y/Y) misses by $10M:
  • UTX:Q2 EPS of $1.81 beats by $0.10.Revenue of $16.33B (-5.0% Y/Y) misses by $190M
  • SBNY: Q2 EPS of $1.77 beats by $0.08.Revenue of $246.05M (+19.4% Y/Y) beats by $4M
  • RF: Q2 EPS of $0.20 in-line.Revenue of $1.41B (+8.5% Y/Y) beats by $100M
  • EDU: FQ4 EPS of $0.26 beats by $0.05.Revenue of $328.8M (+14.4% Y/Y) beats by $2.04M
  • WWW: Q2 EPS of $0.27 beats by $0.07.Revenue of $630.1M beats by $11.26M: FY15 guidance of revenue: $2.82B to $2.85B (+2% to +3%), diluted EPS: $1.39 to $1.46, adjusted EPS: $1.53 to $1.60
  • BK: Q2 EPS of $0.77 beats by $0.11.Revenue of $3.85B beats by $30M
  • SNV: Q2 EPS of $0.42 beats by $0.03.Revenue of $272.48M misses by $0.99M
  • CFG: Q2 EPS of $0.40 beats by $0.04.Revenue of $1.2B misses by $10M
  • LXK: Q2 EPS of $0.97 beats by $0.15.Revenue of $891M misses by $5.12M
  • MAN: Q2 EPS of $1.33 beats by $0.05.Revenue of $4.86B (-8.6% Y/Y) beats by $90M
  • AMTD: FQ3 EPS of $0.36 in-line.Revenue of $794M (+4.1% Y/Y) misses by $2.7M
  • VZ: Q2 EPS of $1.04 beats by $0.03.Revenue of $32.22B (+2.4% Y/Y) misses by $230M
  • NVS: Q2 EPS of $1.27 beats by $0.03.Revenue of $12.69B beats by $240M: backs FY15 revenue guidance of up mid-single digit

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • IBM: Q2 EPS of $3.84 beats by $0.06.Revenue of $20.81B misses by $140M: guides FY15 EPS of $15.75-$16.50 vs. consensus of $15.88
  • SANM:FQ3 EPS of $0.53 beats by $0.04.Revenue of $1.54B beats by $20M: strong guidance
  • CNI: Q2 EPS of C$1.15 beats by C$0.10.Revenue of C$3.13B misses by C$40M
  • ELS: Q2 FFO of $0.70 beats by $0.02.Revenue of $201.5M beats by $15.2M
  • ZION: Q2 EPS of $0.41 beats by $0.03.Revenue of $424.12M misses by $108.57M

NOTABLE EARNINGS AFTER THE CLOSE:

  • AAPL: CMG: GPRO: HAWK: ILMN: ISRG: MSFT: VMW: YHOO: ACE: CMRE: FTI: HTS: MANH: NAVI: PKG: VASC: IRBT

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • GIS: upgrade: sector perform to outperform: RBC Capital: pt raised from $58 to $65

DOWNGRADES:

  • BUD: downgrade: buy to neutral: Nomura
  • HNT: downgrade: buy to neutral: Goldman
  • SUNE: downgrade: buy to neutral: Baird: $35
  • TSLA: downgrade: neutral to sell: UBS: pt cut from $220 to $210
  • VRSK: downgrade: neutral to sell: UBS: pt cut from $79 to $74
  • UNFI: downgrade: outperform to perform: Oppenheimer:
  • HAS: downgrade: outperform to market perform: BMO Capital:
  • HAS: downgrade: outperform to market perform: Wells Fargo
  • HAS: downgrade: overweight to neutral: Piper Jaffray: pt cut from $85 to $79

INITIATIONS:

  • KO: initiated: buy: Sterne Agee: $46
  • KHC: initiated: outperform: RBC Capital: $88
  • NFX: initiated: outperform: Cowen
  • JAH: initiated: buy: Sterne Agee: $61
  • MSM: initiated: overweight: KeyBanc: $85
  • PYPL: initiated: underweight: Piper Jaffray: $30
  • PYPL: initiated: outperform: RBC Capital: $46
  • VRSK: assumes: outperform: Keefe Bruyette: $90

PRICE TARGET CHANGES:

  • STJ: pt raised from $86 to $91: Needham
  • SUNE: pt raised from $39 to $42: Northland
  • IBM: pt raised from $160 to $170: RBC Capital
  • MBLY: pt raised from $55 to $72: Deutsche Bank
  • LMT: pt raised from $206 to $220: RBC Capital
  • COTY: pt raised from $23 to $30: RBC Capital
  • CELG: pt raised from $147 to $160: Piper Jaffray
  • CRK: pt cut from $5 to $3: Imperial Capital

 

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