ADP Jobs Data | Morning News

apple-forced-to-raise-app-prices-by-100-in-russia-days-after-stopping-online-salesAUGUST 05, 2015

US futures on pace for a higher opening after three days in the red as investors await jobs data, as well as ISM and PMI numbers. Overnight, most overseas market saw green as China’s service sector hit an 11-month high. Oil futures up nominally with brent crude finding some stabilizing at this level.

NEWS:

  • GE: General Electric unveils Predix Cloud for industrial data, analytics, reports ZDNet
  • BABA: BIDU: China to Embed Internet Police in Tech Firms, reports the wsj
  • BA: Boeing loses large satellite deal due to trade credit woes, reports reuters
  • TSLA: Tesla Executive Presses Auto Makers on Electrification, says GM and others only meet minimum standards, reports the wsj

ON THE ECONOMIC CALENDAR:

7AM: MBA Mortgage Applications
8:15AM: ADP Jobs Report
8:30AM: International Trade
8:30AM: Gallup US Job Creation Index
8:30AM: Treasury Refunding Quarterly Annoucement
9:45AM: PMI Services Index
10AM: ISM Non-Manufacturing Index
10:30AM: EIA Petroleum Inventories
EARNINGS THIS MORNING BEFORE THE OPENING:

  • DISH: Q2 EPS of $0.70 beats by $0.25: revenue of $3.83B beats by $40M
  • SUPN: Q2 EPS of $0.03 beats by $0.01: revenue of $35.05M beats by $0.78M: revenue +18.1% Y/Y: raises guidance, FY15 net product revenue to $135M-$140M vs. consensus $138.67M
  • CTSH: Q2 EPS of $0.79 beats by $0.06: revenue of $3.09B beats by $60M: revenue +22.6% Y/Y: in-line EPS guidance
  • PWR: Q2 EPS of $0.24 misses by $0.20: revenue of $1.87B misses by $120M: guides lowers FY15 EPS to $1.32-$1.47 from $1.58-$1.77
  • LL: Q2 EPS of -$0.75 misses by $0.81: revenue of $247.94M misses by $9.7M

RECAP OF SOME NOTABLE EARNINGS FROM LAST NIGHT:

  • Z: Q2 EPS of -$0.01 beats by $0.25: revenue of $171.27M beats by $2.58M: revenue +117.7% Y/Y: guides below estimates
  • ATVI: Q2 EPS of $0.13 beats by $0.05: revenue of $759M beats by $93.47M: raises guidance
  • LGND:Q2 EPS of $1.81 beats by $1.41: revenue of $18.42M beats by $1.41M: revenue +73.6% Y/Y: reaffirms above estimates
  • DIS: FQ3 EPS of $1.45 beats by $0.03: revenue of $13.10B misses by $130M
  • AWAY: Q2 EPS of $0.12 in-line: revenue of $125.84M beats by $1.98M: revenue +10.1% Y/Y: in-line guidance
  • FSLR: Q2 EPS of $0.93 beats by $0.57: revenue of $896.22M beats by $144.5M: revenue +64.6% Y/Y: guides above estimates
  • NBR:Q2 EPS of $0.09 beats by $0.18: revenue of $863.3M beats by $64.13M: revenue -46.7% Y/Y: expects a decrease in Q3 results as current depressed market conditions likely will prevail for an extended period
  • GLUU: Q2 EPS of $0.01 beats by $0.05: revenue of $57.48M beats by $5.98M: lowers guidance
  • ETSY: Q2 EPS of -$0.07: revenue of $61.4M: warns of revenue growth deceleration
  • ECOM:Q2 EPS of -$0.10 beats by $0.19: revenue of $24.18M beats by $2.49M: strong guidance
  • CERN: Q2 EPS of $0.52 in-line: revenue of $1.12B misses by $80M: light sales guidance
  • ZAGG: Q2 EPS of $0.12 beats by $0.04: revenue of $66.69M beats by $8.93M: revenue +33.0% Y/Y: strong screen protector demand
  • USNA: Q2 EPS of $1.92 beats by $0.32.Revenue of $233.2M (+23.9% Y/Y) beats by $20.26M
  • RATE:Q2 EPS of $0.16 in-line: revenue of $132.9M beats by $6.2M: raises revenue guidance
  • INVE :Q1 EPS of -$0.54 misses by $0.31: revenue of $14.93M misses by $4.81M: warns on FY revenue
  • OCLR: FQ4 EPS of -$0.06 beats by $0.03: revenue of $82.19M (-14.3% Y/Y) beats by $0.78M: solid guidance

SOME NOTABLE EARNINGS AFTER THE CLOSE TODAY:

  • ABX, AEGR, AGU, ALB, AMTG, ANDE, AREX, ARNA, ATO, ATSG, AVG, AWK, AXLL, BEE, BGC, BREW, BRKR, BWXT, CBS, CCRN, CF, CJES, CLNE, CLR, CNAT, CTL, CUTR, CXW, DCO, DNB, DPM, ETP, FANG, FLT, FMC, FRT, FTD, FUEL, GBDC, GDDY, GMCR, GPOR, HABT, HDP, HI, HIVE, HLF, HR, IAG, ICPT, IL, IRWD, ITRI, JACK, JAZZ, JONE, KND, KW, LGCY, LHCG, LNT, MCHX, MED, MELI, MG, MITT, MNTX, MRIN, MRO, MUSA, NHI, NKTR, NLY, NOG, NP, OME, OPK, PMT, PNNT, POWR, PRI, PRU, PRXL, PSIX, RAIL, REG, RGLD, RIG, RLD, RP, RST, RYN, SBY, SD, SGI, SGMO, SGY, SHOR, SLF, SQNM, SSNI, STR, SUN, SWM, SXL, TCAP, TLLP, TRNX, TRQ, TS, TSLA, TSO, TUMI, WGL, WPX, WSR, WTI, WTW, XNPT, XPO, ZU

ANALYSTS’ RATINGS CHANGES:

UPGRADES:

  • BK: upgrade: market perform to outtperform: Bernstein
  • FRAN: upgrade: underperform to neutral: Macquarie: $11
  • JEC: upgrade: market perform to outperform: Cowen: pt raised from $45 to $49
  • K: upgrade: sell to hold: Societe Generale

DOWNGRADES:

  • HLT: downgrade: buy to neutral: Goldman: pt cut from $31.50 to $28
  • INVE: downgrade: outperform to market perform: Cowen: pt cut from $18 to $3
  • DIS: downgrade: buy to hold: Jefferies: $112
  • DIS: downgrade: outperform to market perform: BMO Capital
  • INVN: downgrade: outperform to market perform: Northland Capital: pt cut from $18 to $15
  • CERN: downgrade: outperform to sector perform: RBC Capital: pt cut from $77 to $68
  • AAPL: downgrade: buy to neutral: BofA/Merrill: $130

PRICE TARGET CHANGES:

  • ATVI: pt raised from $27 to $30: Piper Jaffray
  • ATVI: pt raised from $30 to $32: Brean Capital
  • REGN: pt raised from $700 to $800: Canaccord
  • CVS: pt raised from $117 to 4132: RBC Capital
  • K: pt raid from $66 to $72: RBC Capital
  • INCY: pt raised from $107 to $119: Brean Capital
  • SCOR: pt raised from $63 to 67: Brean Capital
  • SCOR: pt raised from $58 to $62: Telsey Advisory Group
  • ALL: pt cut from $70 to $68: Compass Point
  • DO: pt cut from $28 to $20: Cowen
  • SCCO: pt cut from $30 to $26: Cowen
  • DIS: pt cut from $127 to $120: Guggenheim
  • Z: pt cut from $103 to $92: RBC Capital
  • GDOT: pt cut from $22 to $20: Compass Point

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