AAPL earnings loom | Morning News

Monday, April 27, 2015

US futures moving higher at this 7AM hour as investors await some key economic data this weak and important earnings reports.  GDP Q1 and FOMC  reports will come out on Wednesday, while AAPL reports after the close to begin another big week of earnings data.

Overseas, European markets sliding after Deutsch Bank reports weak earnings and the Greek debt crisis, once again, comes into focus.

Meanwhile overnight in Asia, Hong Kong and Shanghai markets shares soared to levels not seen in 7 years, after reports emerged suggesting that  the Chinese government could cut the number of central government owned big companies through massive mergers

NEWS:

  • AMAT: Applied Materials, Tokyo Electron abandon merger plan
  • AMAT: announces authorization to repurchase $3B shares
  • GWPH: announces US Patent Allowance for Use of Cannabidivarin (CBDV) in Treating Epilepsy, reports cnn
  • CMG: announces that their food is totally GMO free
  • CLDN: announces that its Phase 2b CUPID2 trial met neither primary nor secondary endpoints, reports reuters
  • GOOG: GOOGL: Ebay backs Google in anti-trust case, reports financial times
  • TWTR: Cantor out positive into earnings: sees 14M average monthly users
  • JKS: JinkoSolar Supplies 3 MW of PV modules to EMSULA for Honduras’ Largest Rooftop System, reports prnewswire
  • BCRX: H5N2 (avian flu) outbreak spreads, reports reuters

ON THE ECONOMIC CALENDAR:

  • 9:45AM: PMI Services Index Flash
  • 10:30AM: Dallas Fed Manufacturing Outlook
  • 1PM: $26B, 2 Year Note Auction

EARNINGS:

  • SOHU:Q1 EPS of -$0.81 beats by $0.41.Revenue of $455.33M (+24.6% Y/Y) beats by $15.99M: conference call 8:30AM EST
  • CYOU: Q1 EPS of $0.97 beats by $0.34.Revenue of $208.7M (+15.5% Y/Y) beats by $8.58M: guidance misses,Q2 EPS 56c-65c, consensus 71c: conference call 7AM EST

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

AAPL, ABX, ACC, AFG, AGNC, ALSN, AMKR, ARE, AVB, BRX, BXP, CDNS, CHDN, CHRW, CMP, CR, CUDA, DAC, GGP, GIG, HIG, HMST, HT, IPHS, JJSF, JLL, MSA, OLN, OMI, OSTK, PCL, PMCS, PRE, RCII, RE, RTEC, SIMO, SSNC, SSW, SWFT, TCS, UDR, UHS

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • PTEN: upgrade: neutral to buy: Goldman: $25
  • DIS: upgrade: neutral to buy: Guggenheim
  • NEM: upgrade: market perform to outperform: Credit Suisse: $30
  • TXN: upgrade; buy to strong buy: Raymond James: $62

DOWNGRADES:

  • DDD: downgrade: neutral to sell: UBS
  • DDD: downgrade: buy to hold: Canaccord: $27
  • DDD: downgrade: neutral to underweight: Piper: pt cut from $32 to $21
  • AMZN: downgrade: buy to hold: Arugs
  • SDRL:  downgrade: market perform to underperform: Wells Fargo: pt range $6-10
  • SSYS: downgrade: buy to hold: Canaccord: $51
  • TWTR: downgrade:buy to neutral: SunTrust
  • AXP: downgrade: buy to neutral: Nomura: $82

INITIATIONS:

  • AAPL: initiated: buy: Brean Capital: $160
  • JD: initiated: overweight: JP Morgan: $42

PRICE TARGET CHANGES:

  • DIS: pt raised from $110 to $125: Citigroup
  • AAPL: pt raised from $130 to $135: Jefferies

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